NEWSLETTER 2-17 FROM HANKEN SCHOOL OF ECONOMICS
A solid foundation for the future Earlier this spring the Hanken Board approved the financial statement for 2016, which shows that Hanken is doing well, both as regards operations and finances. Our graduation rate is stable on all academic levels and our faculty actively publishes in high/quality journals. The Hanken students are ambitious and study at a good pace both here at Hanken and during their semesters abroad. The continued wide support to our fundraising campaign allowed us to raise the campaign target. In addition, our quality system was approved in a national audit of university quality systems. All of this is a result of hard work and purposeful efforts throughout the organisation. Another result of our efforts and investment in research is Hanken’s placement in the global U-Multirank ranking, where Hanken for the second time in a row was ranked fifth globally as regards citation rate. This is a true demonstration of the fact that a small university can have high impact.
Hanken thus has a solid foundation for implementing our recently revised long-term strategy. Our ambition is to offer an innovative and attractive environment for research, teaching and learning, develop a programme portfolio that provides our graduates with solid academic skills and global competencies, and to establish responsibility and sustainability as an integrated part of everything we do. Many of the things we do will continue on the path that we have chosen years ago. Academic excellence and internationalisation will remain at the core of all our activities. We also see that continued collaboration with both national and international academic and corporate partners will be essential for our future success.
HANKEN RENEWS FIFTH POSITION IN RESEARCH Hanken School of Economics has renewed its fifth position in the global U-Multirank university ranking on research and research linkages. The ranking results show that Hanken thus outperforms some 1 500 universities from both the US and Europe. - Our continued success in this ranking proves that Hanken’s research is on an internationally high level, says Hanken’s Rector Karen Spens. Hanken ranks particularly well on citation rate and top cited publications, as well as on international joint publications. - When measuring according to the indicator top cited publications, Hanken is one of three European universities among the top 10. We see this as the result of our efforts to underline the importance of publications in top journals and to encourage our faculty to cooperate internationally, states Timo Korkeamäki, Dean of Research. U-Multirank compares 1 500 universities within a number of variables, such as research, teaching and learning, and international orientation. Hanken performs extremely well on variables such as international student mobility, post-doc positions, share of international faculty, share of private funding, and graduation rate.
K A R EN S P EN S R E C TO R
CSR PROJECT COURSE The new project course in CSR and humanitarian logistics brought students and companies together to solve real cases. The aim of the course was to immerse the students in questions related to CSR. By analysing and solving real-world problems provided by external organisations and then presenting the results in class, students experienced hands-on the challenges companies face today. - I think the course has been very useful; it gave us hands-on experience and we were able to conduct a real-case project in cooperation with well-known companies and NGOs, such as UNICEF. We have learnt how to network, to adapt to the dynamic nature of the project as well as time-management skills, says Elina Iamsia who participated in the course. Fazer, Helen, Miltton and Helsinki Think Company were among the companies participating in the course.
QUALITY SYSTEM APPROVED IN NATIONAL AUDIT The quality system at Hanken was audited and approved by The Finnish Education Evaluation Centre (FINEEC) in the autumn of 2016. The audit evaluates quality systems in higher education and focuses on the organisation, division of responsibility, procedures and resources on which quality management is based. - I am very pleased that the hard work we have done to improve our quality system has paid off and that we passed the audit, says Rector Karen Spens. FINEEC states that the quality culture at Hanken is characterised by a strong commitment to high-quality outputs, in accordance with the university’s ambitions to strive for excellence.
HANKEN EXCHANGE FAIR The annual Exchange Fair was held at Hanken in April. Aimed at all students, those going on exchange in the next academic year as well as future outgoing exchange students, the fair is a great opportunity to get more information on exchange studies and internships abroad, to meet incoming exchange students and to get answers to all conceivable questions regarding exchange studies.
FIFTH ITERATION OF CR+ CONFERENCE Around 80 participants from around the world converged at Hanken in April to present and share knowledge related to the conference theme “Making Corporate Responsibility Useful”. The conference is a collaboration between four PRME Champion schools; Hanken, Audencia Business School (Nantes, France), ISAE/FGV (Curitiba, Brazil) and La Trobe University Business School (Melbourne, Australia). The focus was on how the concept of Corporate Responsibility (CR) up to now has mostly been looked upon from the perspective of the ‘business case’. Too often, the impacts on society have tended to be less closely investigated, or investigated only from a ‘win-win’ perspective, focusing on obvious positive impacts without problematizing potential negative externalities. The event was composed of two plenary sessions and several parallel workshop sessions.
DROPP FIRST NON-PROFIT PARTNER
2 MEUR DONATION TO HANKEN
Hanken has initiated collaboration with its first Non-Profit Partner: the Finnish social enterprise DROPP. This new partner category has been created to enable and to highlight longterm cooperation with non-profit organisations.
Hanken’s ongoing fundraising campaign has received a donation of two million euro from the Jane and Aatos Erkko Foundation. This is the Foundation’s second donation to the campaign, bringing its contribution total to three million euro.
DROPP, founded by Amanda Sundell in 2014, offers domestic and sustainably sourced spring water for Finnish consumers and donates 100 % of its profits to support the rehabilitation of the Baltic Sea through the work of the Baltic Sea Action Group. - As Hanken has chosen to promote social responsibility in all its activities, Non-Profit Partnership seems a natural way to proceed. We are extremely pleased to welcome DROPP as our first Non-Profit Partner, says Nina Olin, Hanken’s Director of External Relations and Communication.
With this donation, the Foundation’s Board of Directors want to further strengthen Hanken’s internationally excellent research and teaching in economics. The Foundation also wants to strengthen Hanken’s financial position and its international competitiveness. This is, to date, the largest donation to the fundraising campaign, which has now raised over 10,7 million euro. The state will match the money raised with up to three euro for every donated euro. The campaign ends on 30 June, and on 13 September a banquet for all donors will take place.
ANDERS WALL SCHOLARSHIP TO EMIL RANTATULKKILA This year’s Anders Wall scholarship was awarded to Hanken student Emil Rantatulkkila. The award was presented at the concert hall Musikaliska Akademien in Stockholm on Anders Wall’s birthday, 10 March 2017. Emil has not only shown excellent study results, but also developed a social media channel, Pongfinity, that has attracted a lot of attention and has great global business potential. Through Pongfinity, he and some of his friends post table tennis-related videos on Instagram, Facebook and YouTube. The Anders Wall scholarship of 125 000 SEK (approx. 13 500 euro) is the biggest scholarship awarded to a Hanken student. The Anders Wall Foundation brings together a large group of young people interested in entrepreneurship and introduces them to the alumni network Wallumni, which arranges regular meetings for its members.
NEW BOOK ON SERVICE STRATEGY How can product companies build competitive advantage through services and product-service combinations? A newly published book by two internationally respected researchers, Hanken’s Assistant Professor Christian Kowalkowski and Wolfgang Ulaga, Arizona State University, gives the answer.
The book “Service Strategy In Action” consists of 12 independent but related chapters. This means that any company can take on board the chapters it specifically needs. The book is written for business developers, consultants and decision-makers in industry; it stems from over a decade of research and co-operation with enterprises.
NEW BILATERAL EXCHANGE AGREEMENTS Hanken has signed a new bilateral exchange agreement. Our new partner is: University of Amsterdam.
HANKEN AT A GLANCE HANKEN IN FIGURES »» Founded in Helsinki 1909 »» Operations also in Vaasa since 1980 »» Research and teaching in Swedish and English in five departments »» Number of students enrolled for bachelor’s and master’s degrees – 2534 »» Number of doctoral students – 122 »» Academic staff – 123
AREAS OF STRENGTH »» Economics »» Finance »» Management and Organisation »» Marketing
MAJORS »» Accounting »» Commercial Law »» Economics »» Entrepreneurship, Management and Organisation »» Finance
PARTNER PROGRAMME
»» Management and Organisation
The Hanken Partner Programme builds long-lasting, mutually beneficial relationships that strengthen the connection between Hanken and the corporate world.
»» Supply Chain Management and Social Responsibility
HANKEN PREMIUM PARTNERS
»» Marketing
MASTER’S DEGREE PROGRAMMES IN ECONOMICS AND BUSINESS »» Business and Management (Helsinki) »» Corporate Governance (Helsinki) »» Economics (Helsinki) »» Finance and Accounting (Helsinki) »» Intellectual Property Law (Helsinki) »» General Management (Vaasa)
HANKEN PARTNERS
EXECUTIVE EDUCATION »» Hanken Executive MBA »» Hanken & SSE Executive Education »» Hanken Executive Education Vaasa
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