Cardiff Business School: The Public Value Business School Launch Event

Cardiff Business School: The Public Value Business School Launch Event 14 October 2015

Professor Martin Kitchener Dean and Head of School, Cardiff Business School

Cardiff Business School: The Public Value Business School We are a research-led business school that delivers economic and social value, through multi-disciplinary teaching and research, that addresses the grand challenges facing organisations and management.

Structure 1. Context: School history, strengths and challenges 2. Idea: The Public Value Business School 3. Strategy: Content, implementation and evaluation

Context: School History* •

Established 1987: merger of UCC (1884) and UWIST (1867 ‘Commerce’).

Possibly the oldest UK business school?

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Self-funded growth: to large (3000 students and 300 staff), international and ‘full-service’ school - including economics and ‘critical’ tradition.

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Research strength: top 10 ranking in each of the first 4 government research assessment exercises (1992-2008).

*Summarized from Roger Mansfield Cardiff Business School, unpublished paper

Our Strengths Excellent Research and Teaching • Ranked 6/101 for UK research in REF 2014 - only Oxbridge & London above, 1 of only 2 schools ranked top 10 in all 5 research assessment exercises.

• AACSB accreditation – top 5% of world business schools (c. 25k) • Russell Group - 2nd for employability, & student satisfaction (business administration)

Large, International and Multi-disciplinary • c. 3k students, plus 140 PhDs, from 100 countries; 300 staff (40 countries) • Full-service & multidisciplinary, including economics and ‘critical’ tradition

Strong & Progressive Governance • Economic value: £45M pa to university (50% contribution rate) & £85M pa to local economy • Ranked 1/101 in UK for business school ‘environment’ • Athena Swann accredited, 50/50 by 20/20, Welsh provision, Shadow Management Board • International Advisory Board – members from private, public and third sectors

“A Jewel in the Crown”

Our Challenges Economy • REDUCED STATE SUPPORT: <10% income from government • INCREASING COMPETITION (staff, students, & grants): international & private sector (limited research) • PROMOTION SINGLE BUSINESS SCHOOL MODEL: ‘reductionist turn’

Academic World • HISTORIC TRADE SCHOOL STIGMA: ‘wastelands of vocationalism’ • RELEVANCE: discipline-led ‘silo working’ v grand challenges • ETHICS – ECONOMIC V SOCIAL VALUE: ‘amoral governance’ e.g., ENRON • UNIVERSITIES: ‘cash cows’ (contribution rate 33% in 2012, 50% in 2015)

The Public Value of Social Sciences John Brewer (2013) The public value of social sciences (teaching, research & engagement) comprises both: 1. ECONOMIC VALUE to universities and wider economies, from student fees & research income AND 2. SOCIAL VALUE - nurturing a â&#x20AC;&#x2DC;moral sentimentâ&#x20AC;&#x2122; that leads people (staff, students & society) to improve society by studying and ameliorating the grand social challenges of our time.

Cardiff Business School: The Public Value Business School Our teaching, research and engagement will deliver public value in terms of both: (a) Economic value e.g. student fees and research income, and (b) Social value (moral sentiment and social improvement) â&#x20AC;˘ Multi-disciplinary teaching and research â&#x20AC;˘ Focusing on the grand challenges of management and business â&#x20AC;˘ Effective engagement with public, private and third sectors

Public Value: Implementation The Authorising Environment

Specification of Public Value Operational Capacity

Adapted from John Bennington & Mark H. Moore 2011 Public Value: Theory and Practice p.5. Basingstoke: Macmillan

Benefits for our Stakeholders

Operational Capacity & Plan ü Teaching – Public Value approach (multi-disciplinary and challenge-led) to programme design and review processes e.g. BSc Business Administration Review (2015). ü Research – Encourage multi-disciplinary and challenge-led approaches through school funding (e.g. post-doc awards) and hiring e.g. 7 new ‘Grand Challenge’ Chairs. ü Engagement – Encourage multi-disciplinary and challenge-led engagement e.g., SSPARK & Executive Education for Public Value ü Governance – public value principles in action ECONOMIC VALUE – £45M university, £85M economy SOCIAL VALUE – Athena Swann accreditation, 50/50 by 20/20, Shadow Management Board, increasing Welsh provision, International Advisory Board.

Evaluating The Public Value Business School Higher-performing PVBS Social Value (QS Ranking/our own index)

Lower-performing PVBS

Economic Value (Revenue)

Adapted from Vivienne Jupp & Mark P. Younger “A Value Model for the Public Sector” Outlook 2004, No. 1, accessed from www.Accenture.com/outlook

Cardiff Business School: The Public Value Business School We are a research-led business school that delivers economic and social value, through multi-disciplinary teaching and research, that addresses the grand challenges facing organisations and management.