JSBE Brochure & Annual Report 2017

JSBE at a glance

JSBE AT A GLANCE

JSBE IS A FULL-SERVICE BUSINESS SCHOOL Jyväskylä University School of Business and Economics (JSBE) is one of the six faculties of the University of Jyväskylä. Education in business and economics has been offered in Jyväskylä since 1967. As a part of an internationally renowned multidisciplinary university noted for its highquality research and innovativeness in advancing learning and teaching, we are committed to continuously improving quality in both research and research-based education within the key fields of business and economics. Our disciplines include Accounting, Corporate Communication, Corporate Environmental Management, Economics, Management and Leadership, Marketing, and Strategy and Entrepreneurship.

A C C R E D I TAT I O N

EDITORS

Miia Luoma Hanna-Leena Pesonen Jenni Seppänen Kati Valpe STATISTICS

JSBE PHOTOS

Petteri Kivimäki, Nitroid GRAPHIC DESIGN & CONCEPT

Leevi Sorri

JSBE strives for enabling excellence for the future in responsible business, digital business and economy, and policy-relevant economics.

entrepreneurs to meet the needs of society.

We also provide business and entrepreneurship studies for students of the University’s other faculties. Furthermore, our Avance Executive Education is one of the leading MBA educators in Finland, and it has been awarded the international AMBA accreditation. JSBE is also a member of AACSB (Association to Advance Collegiate Schools of Business).

JSBE’s four International Master’s Degree Programmes are offered in the fields of Banking and International Finance (BIF), Corporate Environmental Management (CEM), Digital Marketing and Corporate Communication (DMCC), and International Business and Entrepreneurship (IBE). Our doctoral programmes are taught exclusively in English. Exchange students can take courses from our course programme in English, which is also open for Finnish and international degree students.

JSBE serves about 1.500 students with its 120 faculty and staff members.

We effectively combine theory and practice to promote responsible business, digital business and economy, and policy-relevant economics in cooperation with our partner organisations.

Our bachelor’s, master’s and doctoral education prepares academic experts, leaders and

Hanna-Leena Pesonen DEAN

50 400 2018 4th

JSBE celebrated its 50th anniversary

University of Jyväskylä was ranked among the top 400 in Shanghai Ranking’s (ARWU) Global Ranking of Academic Subjects 2017 in Management

AACSB invited JSBE to the final phase of the initial accreditation and named the peer-review team visiting JSBE in 2018

JSBE’s student team placed 4th in the finals of the Aspen International Business & Society Case Competition in New York 3

JSBE IS A GLOBAL BUSINESS SCHOOL IN CENTRAL FINLAND JSBE’s research groups are active in international scientific cooperation in the three focus areas of our research. JSBE has wide international networks in both research and education, and international mobility of our students, faculty, and staff is actively promoted. In student exchange, JSBE cooperates with top Nordic business schools through the Nordplus Norek network and has several triple-accredited (AACSB, AMBA and EQUIS accreditations) partners through the Erasmus programme.

For faculty and doctoral students, we provide opportunities to visit universities and research units abroad, and we invite scholars to JSBE through our visiting scholar programme. JSBE’s International Master’s Degree Programmes are the most popular ones at the university, attracting students from Finland and abroad. Almost half of the students accepted to JSBE Doctoral School in recent years have been non-Finnish.

latest knowledge in business and economics to our University, students, as well as the local community. JSBE faculty members are involved widely in different boards, committees, and steering groups across the private and public sectors.

JSBE’S IMPACTFUL RESEARCH The three focus areas of JSBE’s research are responsible business, digital business and economy, and policy-relevant economics. Our research is organised through research groups, which overlap discipline boundaries.

JSBE RESEARCH GROUPS Accounting Change / Culture and Diversity in Organizations and Management / Sustainable Business / Strategy and Entrepreneurship / Responsible Management, Learning, Digitalization & Strategy / Organizational Ethics, Leadership and HRM / Digital Marketing and Communication / Empirical Microeconomics / Jyväskylä International Macro and Finance

The cooperation networks of JSBE reach all continents, and in return we bring the

4

JSBE STAKEHOLDERS CO-OPER ATION

JSBE Research:

CH

RE

ON

SE

I AT

AR

UC

Co-operation:

ED

JSBE Research Groups, JSBE Research Committee, JSBE Doctoral School

JSBE Faculty Council

Education:

JSBE Student Associations, JSBE Education Committee, JSBE Student & International Services

JYU Research:

Research Groups in Other Faculties, JYU Research Council, JYU Research & Innovation Services, JYU Doctoral School, Open Science Centre & Library

Co-operation:

JYU Working Groups

Education:

JYU Education Council, Language Centre, Open Science Centre & Library, Other Faculties, Open University, JYU Student, International & Career Services

CENTRAL FINLAND

FINLAND

INTERNATIONAL

Research:

Research:

Research:

Research Partners in Business

Co-operation:

JAMK University of Applied Sciences, Regional Council of Central Finland, Central Finland Chamber of Commerce, Jyväskylä Strategy Club, Jyväskylä Merchants’ Guild, JSBE Faculty Members’ Positions in Board, Committees, etc.

Education:

Jyväskylä Entrepreneurship Society, Jyväskylä Business and Innovation Factory, Student Internships in Business and Other Organizations

Universities & Research Institutions, Research Partners in Business, Statistics Finland, Funding: Academy of Finland, Business Finland, Foundations, Companies, Finnish Doctoral Programmes KAVA & KATAJA

Co-operation:

Pörssi Alumni Association, Association of Business Schools Finland, Other Finnish Business Schools, JSBE Faculty Members’ Positions in Boards, Committees, etc.

Education:

National Student Application System for University Business Schools, The Finnish Association of Business School Graduates, Student Internships in Business and Other Organizations

5

Universities & Research Institutions, Funding (EU), EIASM, Doctoral Courses and Summer Schools

Co-operation:

AACSB, AMBA, JSBE Faculty Members’ Positions in Boards, Committees, etc.

Education:

Student Exchange Networks, e.g. Erasmus, Nordplus Norek, Student Internships in Business and Other Organizations

JSBE KEY FIGURES RESEARCH

2016

2017

Scientific publications

94

135

Peer-reviewed publications

80

110

JUFO 2

18

26

JUFO 3

6

11

FT50 External research funding (â‚Ź) Share of total funding

PERSONNEL Total personnel

2

3

1,073,831

1,424,654

11.54 %

19.27 %

2016

2017

113

111

87 (21)*

99 (23)*

8.0 %

6.8 %

Total personnel

98.0

92.0

Teaching and research personnel

74.8

79.0

Teaching and research personnel Percentage of international faculty Full time equivalent

of which Professors*

STUDENTS

2016

2017

Bachelor's and Master's Degree programmes

1161

1202

Doctoral programmes

153

141

7.8 %

6.2 %

Outgoing exchange students

76

75

Incoming exchange students

60

94

Percentage of international degree students (%)

6

APPLICANTS / ACCEPTED STUDENTS

2016

2017

Applicants

Accepted

Applicants

BSc and MSc degree programme, Economics

1605

40

1670

45

BSc and MSc degree programme, Business studies

1 613

90

1435

110

MDP in Banking and International Finance

97

8

54

6

MDP in Corporate Environmental Management

54

16

45

22

MDP in Digital Marketing and Corporate Communication

–

–

63

20

144

30

108

24

MDP in International Business and Entrepreneurship

Accepted

DEGREES AWARDED

2016

2017

Bachelor's degrees

126

152

Master's degrees

152

174

Doctoral degrees

8

9

EXECUTIVE MBA

2016

2017

MBA students

143

129

Accepted students*

39

41

MBA graduates

59

39

*The decision on admission into the EMBA programme is made by the EMBA Board. Admission to the EMBA programme is mainly based on suitable work experience in managerial or senior level position (minimum of 3 years). All the enquiries are carefully considered and the suitable students are accepted to the programme.

ECTS CREDITS PRODUCED*

2016

2017

For major students

31 626

42 133

For minor students

16 359

18 946

TOTAL

47 985

61 079

7

8

2017 HIGHLIGHTS; TEACHING, RESEARCH & SOCIETAL IMPACT

9

50TH ANNIVERSARY OF JSBE JSBE hosted the jubilee year University Days in October. The event was open for all and brought together University students, alumni, researchers as well as entrepreneurs and residents from across Central Finland.

A diverse audience celebrated our 50th birthday in line with the theme of the University Days. This significant year was a success. It’s is a good starting point for the future.

The theme of the University Days was “growth with cooperation”. Panel discussions and speeches dealt with entrepreneurship, digitalisation, marketing and responsible leadership.

JSBE’s University Teacher Virpi Malin was one of those awarded the University’s pedagogical development prize in 2017. In honour of the jubilee, SEFE granted JSBE €50,000 to promote highquality education and research in economic sciences. The festivities also included the inauguration of the lecture hall named after the University’s first Professor of Accounting, Pertti Kettunen. After the University Days, the festivities continued with an invitationonly event and a graduation ceremony.

CERTIFICATES & ACCREDITATIONS JSBE has a quality certificate awarded by the Association of MBAs, which ensures better prospects in the international labour market for those with completed degrees.

In 2017, the faculty continued its goaloriented work towards accreditation by the Association to Advance Collegiate Schools of Business (AACSB).

AACSB is the world’s leading organisation for the assessment of business education.

Its accreditation process considers how challenging a school’s mission is, the implementation of programmes, the qualifications of the teaching staff as well

10

as the achievement of the goals of the various degrees and programmes. The AACSB accreditation process usually takes three to seven years for a business school that fulfils the application criteria. JSBE was accepted to the process in June 2014 and the anniversary year climaxed with the approval of the JSBE application for the final stage of accreditation. The peer review team visits Jyväskylä in October 2018.

A LARGE DONATION FROM THE JYVÄSKYLÄ MERCHANT’S GUILD FOUNDATION The Foundation donated €215,000 to the University of Jyväskylä in its annual celebration in January 2017. The donation was directed to the School of Business and Economics. Furthermore, the foundation donated scholarships worth €43,000

11

12

to support and to develop the studies, the research, and the teaching of business and economics.

SUCCESS IN INTERNATIONAL RANKINGS Jyväskylä University School of Business and Economics did well in international rankings.

In Shanghai’s 2017 Academic Ranking of World Universities list, the University was among the 400 best in the field of management.

Apart from Aalto University, the University of Jyväskylä was the only Finnish university included in the list.

STUDENT TEAM SUCCEEDS IN NEW YORK JSBE students participated for the eighth time in the esteemed international Aspen Case Competition. The events of this year’s MBA contest were planned by the Yale School of Economics and were part of the case study conducted by IBM. After a 72-hour challenge, the Jyväskylä team qualified for the finals and succeeded placing fourth. The solution developed by Cornelia Smallegange, Hilla Hoskonen, Nina Tuovinen, and Otso Tolonen included more centralised locations of IBM’s pro-bono programme and cooperation with local universities.

TWO EXTERNAL MEMBERS IN JSBE FACULTY COUNCIL JSBE alumni Ph.D. (Economics) Sanna-Mari Hynninen and Ph.D. (Management), Docent Jari Syrjälä were co-opted to the JSBE Faculty Council. They were nominated by the Rector on the proposal of the JSBE Faculty Council.

The external members have an advisory role

13

and they offer the council a valuable view from the business world.

ECONOMICS Professor of Economics Jaakko Pehkonen was awarded the highest distinction of the OP Financial Group, the Gebhard Medal. The medal is awarded to OP cooperative bank employees, management representatives, and board members or other considerably distinguished persons for their life’s work in OP Financial Group. The medal has been awarded since 1928.

JSBE IS A FORERUNNER IN DIGITALISATION Digital business and economy are strategic focus areas of JSBE. The school’s new International Master’s Degree Programme in Digital Marketing and Corporate Communication (DMCC) master’s degree programme is the first of its kind in Finland.

Started in 2017, DMCC is one of the most popular master’s degree programmes at the University of Jyväskylä. The number of applicants increased by more than 50% from the previous year.

DMCC is also one of JYU’s cross-disciplinary master’s degree programmes, combining Marketing and Corporate Communication, both of which are known for their active cooperation with working life. The courses discuss the challenges faced by different organisations in an ever-digitising world.

CORPORATE COMMUNICATION Corporate Communication, which used to be called Organizational Communication &

14

15

PR, moved from JYU Faculty of Humanities to Jyv채skyl채 University School of Business and Economics at the beginning of 2017.

Those who began with Organizational Communication & PR have been able to choose whether they graduate as Masters of Arts or as Masters of Science (Economics and Business Administration).

INTERDISCIPLINARY COLLABORATION ON CHANGE MANAGEMENT COURSE The University of Jyv채skyl채, JAMK University of Applied Sciences, and the Air Force Academy held their second joint course on change management. The two-day seminar was held on the Air Force Academy premises in Tikkakoski, with over 100 students participating.

The course brought together the students of JSBE, JAMK, and Air Force Academy. This

16

THE SUMMER SEMINAR OF ECONOMISTS

time the focus was on the Air Force. Their representatives described how the Air Force had carried out an organisational change.

Lecturers from all three schools were present.

JSBE arranged the traditional summer seminar of economists for the 34th time.

The seminar’s participants were from the fields of economics, business studies and public administration as well as from the business world. In the seminar, the prize for the best financial forecast was awarded to the Ministry of Finance.

In the future, the course will alternate themes from year to year, covering change management one year and a topical management and strategy theme the next. In spring 2018, the theme is management and organisation in the digital domain.

INTERNATIONAL PLACE AT JSBE

CONFERENCES

TOOK

The European Business Ethics Network’s annual conference, held at JSBE in June, focused on forms of sustainability, especially on social sustainability and on responsibility in business organisations and their management. The conference had more than 140 participants from 25 countries.

JSBE arranged the traditional summer seminar of economists for the 34th time.

The 7th International Doctoral Consortium took place at JSBE in June 2017. This consortium brought together critical and qualitatively-oriented organizational and management scholars and PhD students worldwide. The IDC 2017 was organized in close cooperation with Jyväskylä University School of Business and Economics (JSBE), St. Mary’s University Sobey School of Business, Halifax, and the University of Eastern Finland. 

17

JSBE DOCTORAL DISSERTATIONS 2017 ”The development and management of interpersonal trust in a business network in health, exercise, and wellbeing markets” MILA HAKANEN “Essays on current account imbalances” MIKA NIEMINEN “Understanding and measuring social entrepreneurship” JOSEPH KANNAMPUZHA MERIE “Economics of wage premia and wage rigidity” MATTHIAS STRIFLER “Siinä pitää kyllä olla vähä teflonii. Tunnekokemuksia johtajana irtisanomistilanteessa” / “You do need to develop a non-stick surface. Leaders’ emotional experiences in severance situations” TIINA MARTELIUS-LOUNIALA “An eco-label for the airline industry” STEFAN BAUMEISTER “Essays on wages, promotions and performance evaluations” JUHO JOKINEN ”Sotilaita vai seikkailijoita? Varusmiespalveluksen johtajakoulutuksen merkityksiä naisille uran ja johtamisosaamisen kannalta” / ”Soldiers or daredevils? The meanings of military leadership training to women from a career and leadership competency viewpoint” HELI HÄYRYNEN “Environmental Values in Industrial Marketing Relationships” NORA HÄNNINEN

18

JYU. MAKING SCIENCE SOCIAL. University of Jyväskylä cherishes the balance of research and education and promotes open thinking – we kindle the skills, knowledge and passion to live wisely for the best of humanity. In this vibrant, human-centered environment, everyone can find their place.

The park-like campus of JYU is centrally located in the city, by the lake­ side. The compact campus area highlights the University community feeling: anywhere you go on campus, you’re likely to bump into friends.

The lively campus is also exceptionally international: we have staff and students from more than a hundred countries.

The beautiful campus is home to a lively multidisciplinary research university – an open and collaborative community whose 2,500 experts and 14,500 students seek answers to the pivotal questions of tomorrow.

19

204 M€ 3,300

FUNDING

PUBLICATIONS

6

FACULTIES

4

CENTRES OF EXCELLENCE IN RESEARCH

Jyväskylä University School of Business and Economics P.O. Box 35 FI-40014 University of Jyväskylä Jyväskylä, FINLAND Street address: Mattilanniemi 2, Building Agora Tel. +358 14 260 1211 E-mail: jsbe-info@jyu.fi JYU.FI/JSBE/EN