NEWSLETTER 1-18 FROM HANKEN SCHOOL OF ECONOMICS
The Challenge of Accreditations Being a business school with triple accreditation means that we are constantly either preparing ourselves for re-accreditation or “recovering” from one. Accreditations may seem challenging at times, but they are extremely valuable. Not only do they signal our quality to the outside world, but they also align our activities with the highest global standards. EQUIS, AACSB, and AMBA accreditations do push the schools out of their comfort zones – and the beneficiaries are the students and stakeholders. Hanken’s researchers continue to publish academic articles at a staggering pace. Our researchers are also extremely well linked, with a large majority of Hanken publications resul-
ting from collaborations within international research teams. We continue to receive very favourable assessments of our research productivity from sources such as the Academy of Finland, Nordforsk and U-Multirank. Besides these independent evaluations, we are currently conducting an external evaluation of Hanken research, where an international panel will provide an assessment of our research activity, and identify top candidates for our areas of strength for the next five-year period. The evaluation will be completed in early autumn, but the material gathered for the panel has again reminded me of the high level of our research, something that makes me very proud of Hanken. T I M O KO R K E A M Ä K I D E A N O F R ES E A RC H
EQUIS ACCREDITATION RENEWED Confidence in Hanken’s operations continued, as EFMD awarded Hanken renewed EQUIS-accreditation. The European Foundation for Management Education (EFMD) has renewed Hanken’s EQUIS accreditation until 2022. As a result, Hanken maintains its position among the 1 % of business schools in the world that have been awarded the three most prestigious accreditations. Hanken has been EQUIS-accredited since 2000, and is also accredited by AACSB and AMBA. - The renewed EQUIS-accreditation is additional proof that Hanken is one of the leading business schools in Finland and internationally. International accreditations ensure high quality within all our activities, with special focus on internationalisation and corporate connections as well as ethics, social responsibility and sustainability, says Hanken’s Rector Karen Spens. - Strategic quality development with emphasis on high-quality research and study programmes that guarantee good career prospects for the students are crucial in order to stand out in the international competition, Spens continues.
HANKEN BUSINESS FORUM The annual Hanken Business Forum was arranged at Hanken on 30 January. The seminar attracted a large audience and focused on what lies behind growth and the drive to succeed. According to keynote speaker Bengt Holmström, MIT and Nobel Prize Laureate, scarcity and constraints are vital for innovation and people become innovative when in a tight spot. - Limitations that define a challenge are inspiring, but only if you still feel that the solution is within your grasp, Holmström summarised. Also speaking at Hanken Business Forum was Annu Nieminen, CEO of Upright project. The company develops a system to measure the social net impact of companies using different factors. Claudia Ohlsson, Young Global Leader 2017 and CEO of Exponential AB, concluded the event with an overview of exponential technology.
INSPIRATION AWARD TO INNOVATIVE COMPANY The Hanken Inspiration Award was presented at Hanken Business Forum and this year it went to fintech company Enfuce Financial Services. The Hanken Inspiration Award is presented to a company that has shown growth and innovative thinking and thus sets an inspirational example for other companies. The recipient of the Hanken Inspiration Award 2018, Enfuce Financial Services, was chosen among the companies that work within the incubator Hanken Business Lab. Enfuce offers cloud-based financial services to banks and other financial institutions. The company was founded in 2016, had a 3,5 million euro turnover and made a 0,5 million euro profit in its first full year. Enfuce is active today in the Nordic countries and the Middle East but has global ambitions. -We are incredibly happy about receiving this award that specifically underlines inspiration. We at Enfuce want to be pioneers in our field by creating positive change within the field of payments, says Monika Liikamaa, CEO at Enfuce.
RENEWED PRME CHAMPION Hanken has been selected for the third time in a row to the PRME Champions group. Principles for Responsible Management Education (PRME) is a United Nations-supported initiative founded in 2007 to raise the profile of sustainability in schools around the world, and to equip today’s business students with the understanding and ability to deliver change tomorrow. The PRME Champions group is dedicated to undertaking advanced tasks and game changing projects that respond to systemic challenges faced by the PRME community. Hanken was the first university in Finland to sign PRME in April 2008, and it became a member of the PRME Champions group for the first time in 2013.
HANKEN AMONG THE BEST BUSINESS SCHOOLS Hanken has been ranked 76th in Financial Times’ ranking of the best business schools in Europe and thus improves its ranking compared to the previous year. In total, 95 schools are included on the list. The ranking is based on the combined performance in the main rankings published by FT: MBA, Executive MBA, Master’s in Management and non-degree executive education programmes of which Hanken takes part in the Master’s in Managementranking. According to the ranking, the three best European business schools are London Business School, HEC Paris and IE Business School. Only one other Finnish business school and six Nordic business schools made the list of the 95 best business schools in Europe.
HANKEN RESEARCH DAY Hanken Research Day is a platform for Hanken researchers to share their research with both colleagues and students as well as with media and the general public. This was the third time that the event took place and it has already become a well-established event with a broad audience. The event demonstrated the width of research topics represented at Hanken. A few examples, but by no means an exhaustive list are, Marriage and Biology (Mats Ekman), Consumer Logistics (Paul Larson) and Is innovation always ”good”? (Karl-Erik Sveiby). The day was capped off with the installation ceremony of Professor Janne Tienari, whose installation speech dealt with Why do we need management? IN THE PICTURE: N A R R AT I V ES
I N G R I D B I ES E TA L K I N G A B O U T S TAY AT H O M E DA D S W H O C R E AT E WO R K
EXCHANGE STUDENTS RECOMMEND HANKEN Exchange students at Hanken are extremely pleased with their experience and their studies. The results from the latest exchange student survey show that 96% would recommend Hanken as a destination for an exchange student semester. The large majority of the students were satisfied with the course offer, their own learning, teaching and assessment methods. The Student Union received credit for the extensive programme they organise for the exchange students. Especially the sports activities and trips to Stockholm, Tallinn, St. Petersburg and Lapland are appreciated. The number of incoming and outgoing students have increased over the last years. During 2017 Hanken hosted 172 incoming students and 214 Hanken students studied abroad along with 51 doing their internship abroad.
INTERNATIONAL APPLICANTS DOUBLED The Hanken Master’s programme received 582 applications in January. The total number of applications increased with over 60% compared to 2017 (354). The increase shows that Hanken’s high quality programme is an attractive option also internationally. The increase in number of applicants outside EU/EEA was particularly high. Hanken received more than double the amount of applications compared to last year (156 in 2017, 397 in 2018). A total of 76 nationalities applied to Hanken this year.
LEYLAND PITT LECTURED AT CERS One of the most inspiring visitors at Hanken last autumn was distinguished Professor Leyland Pitt from the Beedie School of Business at Simon Fraser University, Vancouver, Canada. He spent a couple of weeks at Hanken’s Centre for Relationship Marketing and Service Management (CERS). During his visit he held workshops and seminars for PhD students and postdocs on personal research strategy and journal publishing. At the moment Professor Pitt is working with computerised content analysis, especially of so called big data in the form of online text, and he is looking for different approaches for doing that.
NEW BILATERAL EXCHANGE AGREEMENTS Hanken has signed a new bilateral exchange agreement. Our new partner is: University of Navarra School of Economics & Business.
PARTNER PROGRAMME The Hanken Partner Programme builds long-lasting, mutually beneficial relationships that strengthen the connection between Hanken and the corporate world.
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THIS IS HANKEN Hanken School of Economics is a leading internationally accredited Finnish university with operations in Helsinki and Vaasa, Finland. We are one of the oldest business schools in the Nordic countries, with over 100 years experience in education and research in economics and business administration. We combine tradition with a dynamic and innovative approach to research, teaching and learning.
ACADEMIC EXCELLENCE Academic excellence is at the core of everything we do. Cuttingedge research, effective research-based education and the development of global competences help our graduates manage global complexity.
FACTS & FIGURES »» Founded in Helsinki 1909 »» Operations also in Vaasa since 1980 »» Research and teaching in Swedish and English in five departments »» Students enrolled for bachelor’s and master’s degrees – 2428 »» Number of doctoral students – 121 »» Academic staff – 123
AREAS OF STRENGTH IN RESEARCH »» Economics »» Finance »» Management and Organisation »» Marketing
PROGRAM PORTFOLIO »» Bachelor of Science »» Master of Science
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