INSIDE THIS ISSUEThe Bologna effectGordon Shenton on the emerging European masters market

Chicago bluesEdward Snyder explains why students are not customers

Journal ease?Emeralds John Peters calls for a rethink of refereed journals

Kangaroo hopSantiago Iiguez on recruiting faculty and the world at large

Higher ranksAshridges Kai Peters learns to love the rankings

In contextNick Binedell on business schools and their environment

EFMD

aisbl

Rue G

achard 88 Box 3

1050 Brussels B

elgium

Phone: +32 2 629 08 10

Fax: +32 2 629 08 11

Email:

info@efm

d.org

EFMD

www.efmd.org Volume 01_Issue 02 2007

EFMD

G

lobal Focus Volum

e 01 _Issue 02 2007

$7367DUE;97EF

The Economist provides Europes business leaders, current and future, with timely insightthat helps them to succeed in todays complex global marketplace.

To advertise your courses to an audience of 3.7 million intelligent and affluent readers, please contact Philip Wrigley on +44 (0) 20 7830 7000 or philipwrigley@economist.com.

Catching the tideEU Commissioner Jn Figel welcomes EFMD involvement in education and training

International Business School Accreditation

www.efmd.org/equis

Celebrating 10 years of EQUIS excellence

105 schools, 31 countries, 1 goal Raising the standards of

international business education

European Foundation for Management Development and Graduate Management Admission Council

2007 MBA Deans and Program DirectorsSymposium

Dates 7-9 November 2007

Location Intercontinental Grand Stanford Hotel Kowloon (Tsim Sha Tsui East), Hong Kong

Theme From Adaptation to Innovation: Learning from Asia A Symposium on Graduate Management Education

AttendeesDeans, Associate Deans and Program Directors from business schools around the world

Alternative Strategies for the Internationalisation of Graduate Management Education

Social Networking and the Global Network of Learning

Technology Visions

The Corporate Voice

Sustainable Leadership

B-School Partner Models

The Indian MBA Market

HR Issues and Leadership Styles in Asia

The Chinese MBA Market

EFMD

For more information, please contact Helke Carvalho Hernandes: helke.carvalho@efmd.org or visit www.efmd.org

Global Focus Volume 01_Issue 02 2007 In focus... page 01

Volume 01_Issue 02 2007

In focus...

This issue of Global Focus deals with many of the concerns that are at the top of EFMDs current agenda: the Bologna process, the role of corporate universities, how academic research in business schools (including the future of peer-reviewed journals) relates to the real needs of business, the most effective ways to develop young faculty and the correct relationship between business schools and their local environments.

At least two of these the central role of academic research and the global responsibility of academia are new emphases contained in the Revised EQUIS Standards and Criteria, which are outlined on page 32.

In addition, two of the worlds most respected business school deans Edward Snyder of the University of Chicagos Graduate School of Business in America and Santiago Iiguez de Onzoo, Dean of Instituto de Empresa in Spain, offer their own forthright views on these topics as well as describing how they see the current state of management education (pages 18 and 34).

To highlight just a few of the articles included, Gordon Shenton, Associate Director of the EFMDs Quality Services Department, argues that the emergence of a European market for management education has stimulated business schools and universities in the region to internationalise their activities, putting them in a much better position to compete in world education markets than was the case a decade ago.

And in a piece likely to challenge many academic readers, John Peters, Chief Executive of Emerald Group Publishing, argues that citations in A-list academic journals may not be the best way to assess the real worth of research. Far better, he suggests, to look at the number of Internet downloads to assess relevance and interest generated (page 28).

And in another apparently counter-intuitive approach, Ashridge Chief Executive Kai Peters suggests that business schools have little to fear from rankings. Rather than boycott them, it is better to embrace them and play the game (page 46).

Finally, readers will find enclosed with this issue of Global Focus a special supplement on the Globally Responsible Leadership Initiative (GRLI), sponsored by the EFMD and the UN Global Compact. The supplement reflects a meeting in April this year of members of the group (composed of partnerships between individual business schools and businesses) at Leeds Metropolitan University in the UK to assess their progress so far and share experiences.

Martine Plompen Editor E: globalfocus@efmd.org

EFMD

Contents

Volume 01_Issue 02 2007

Executive Editor Matthew Wood

Advisory BoardEric Cornuel, Jim Herbolich

EditorMartine Plompen martine.plompen@efmd.org

Consultant EditorGeorge Bickerstaffe bickerstaffe@btinternet.com

Contributing EditorsJos ngel Fernandez, Jn Figel, Stefano Gatti, Patrice Houdayer, John Peters, Kai Peters, Nigel Roome, Gordon Shenton, Richard Straub

Design & Art DirectionJebens Design www.jebensdesign.co.uk

Photographs & IllustrationsJebens Design Ltd/EFMD unless otherwise stated

Editorial & AdvertisingMatthew Wood Phone: +32 2 629 0810 matthew.wood@efmd.org

EFMD aisblRue Gachard 88 Box 3 1050 Brussels, Belgiumwww.efmd.org/globalfocus

EFMD

01 In focus...

04 Talking shop EFMD at the Academy of Management

EQUIS celebrates 10 years

Optimising the marketing mix

IESE hosts Deans and Directors

08 EFMDs role in European education policies Jn Figel , European Commissioner for Education ,

Training , Culture and Youth, calls on EFMD to continue and strengthen its involvement in EU education and training initiatives

12 The Bologna effect: the emerging European masters market

Gordon Shenton and Patrice Houdayer describe how the Bologna process, along with European-specific accreditation and ranking systems, is revolutionising the European market in masters degrees

18 The quiet American? Not really. Apparently unassuming Chicago GSB

dean Edward Snyder talks to George Bickerstaffe

22 Programme for Innovation in Public Services a new post- masters qualification

EFMD has worked with schools across Europe to develop a new public service programme PIPS

24 Research with a business edge Richard Straub asks how business schools and

Corporate Universities can create more synergies

28 A better way to measure the value of management research?

Emerald s John Peters suggests an alternative to peer citation to assess which published management research is not only rigorous but also relevant to business

32 Revised EQUIS Standards and Criteria EFMD has introduced revised EQUIS Standards

and Criteria

34 Kangaroos to Ancient Greece: how IE sees the world

Santiago Iiguez de Onzoo is among Europes most thoughtful and outspoken deans and a strong supporter of EFMD. George Bickerstaffe met him in Madrid

40 The future of Corporate Universities in Europe

Jos ngel Fernandez Izard argues that Corporate Universities are the best way of attracting, developing and retaining talent

44 LINK EFMDs learning programme for management

development and organisational development professionals

46 Business school rankings: content and context

How Kai Peters came to love the rankings and learn how to play the game

50 ITP Faculty development programmes: the key for success

University and business school faculty are under increasing pressure to perform. Stefano Gatti looks at one programme designed to help

52 Lost leaders? We have a pretty god idea of what makes successful

leaders. But Nigel Roome wonders why business schools and MBA programmes dont seem to be teaching it

56 Why business schools should adapt to their environment

Nick Binedell tells George Bickerstaffe business schools in emerging economies must adapt to their local situations and play leadership roles

59 Upcoming events at EFMD EFMD organised events for 2007

46

52

12

Global Focus Volume 01_Issue 02 2007 Contents pages 02_03

PIPS is launched a new EFMD service programme page 22

EFMD at the Academy of Management MeetingEFMD will for the first time have an information stand at the 2007 Annual Meeting of the Academy of Management in Philadelphia (August 3rd-8th). If you are planning to attend the meeting please take the opportunity to pass by the EFMD stand (226) and say hello.

Howard Thomas, Dean of Warwick Business School, takes over the Chair of the GFME The Global Foundation for Management Education (GFME) is a joint initiative of the Association to Advance Collegiate Schools of Business (AACSB) and EFMD. It aims to identify and address challenges and opportunities in the practice of management education worldwide and also to advance its quality and content. Howard Thomas, Dean of Warwick Business School, was appointed as the Chair for the coming year. During the autumn the GFME will publish its second report on Global Issues and Challenges in Management Education. More information is available at www.efmd.org

EABIS 6th Annual Colloquium The Emerging Global Governance Paradigm: The Role of Business and Its Implications for Companies, Stakeholders and Society. September 20th-21st 2007, ESADE Business School, Barcelona, Spain. More information: www.esade.edu/research/eabis

Optimising the marketing mix The EFMD External Relations Meeting took place at EAE Escuela de Administracin de Empresas in Barcelona on March 25th- 27th, 2007.

The challenges of globalisation call for innovative decisions and participants explored strategic options such as online communities, branding, alumni involvement and co-operative marketing. Chairperson Nicola Hijlkema, Vice-Rector for International Relations at Estonian Business School, highlighted two major concerns:

1. Internal communication. The discussions at the conference confirmed the wide variety of responsibilities in the marketing, communications and PR departments of business schools and underlined the paramount issue of internal communication between all faculty and staff in a school.

2. Evaluation of new media. How does the widespread use of online tools affect the branding, positioning or communication of a school?

Nicola concluded by saying that EFMDs External Relations meeting offers a great forum for discussion among large schools as well as small executive centres and among participants from Western and Eastern Europe, Asia, Australia, US and elsewhere.

The 2008 EFMD External Relations Meeting will be hosted by the Estonian Business School in Tallinn on April 6th-8th, 2008.

For more information contact Delphine Hauspy delphine.hauspy@efmd.org

Talking shopNews and events in brief from the business world

International Business School Accreditation

www.efmd.org/equis

Celebrating 10 years of EQUIS excellence

97 schools, 29 countries, 1 goal Raising the standards of

international business education

EQUIS celebrates 10 years 100+ business schools, 31 countries and one goal raising the level of international business educationNew EQUIS accreditationsOn Tuesday February 27th eight schools were awarded EQUIS accreditation, which takes the number of accredited schools to 105 across 31 countries. The eight schools are: Amsterdam Business School, University of Amsterdam, Netherlands / CERAM Sophia Antipolis, France / Faculty of Business, City University of Hong Kong, China / Faculty of Business, Hong Kong Polytechnic University, China / Faculty of Business, University of Victoria, Canada / ICN Business School, France / Korea University Business School, Korea / Vienna University of Economics and Business Administration, Austria

The EFMD Annual Report 2006 is now available online at www.efmd.org/annualreport

EFMD

EFMDAnnual Report 2006

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Global Focus Volume 01_Issue 02 2007 Talking shop pages 04_05

SOUNDBITES

Of course we need to listen to the voice of business but we should listen also to other voices and not let business drown these outMichael Hay, London Business School

The most successful ever EFMD meeting for Deans and Directors General hosted by IESEOver 240 Deans from 45 countries gathered in Barcelona, Spain, for the Annual EFMD Deans and Directors meeting hosted by IESE at their stunning new campus overlooking the city. Chaired by Michael Hay from London Business School, the conference theme was Challenging the Purpose of Business Schools. Michael has kindly provided us with a synopsis of the conference:

1. I believe that when we think about the future we need to think in terms of business schools having a different sense of purpose, geared to their own specific context. Each school needs a clear purpose but one that is adapted and relevant to its situation; there must be confidence of purpose but this must be relevant purpose.

2. Globalisation is the defining feature of the world today and tomorrow; its the way we live now. This means that every school must address the issues of:

what does globalisation mean for us how should we adapt our courses,

cases and content what does it mean for our intake

of students how are we preparing our students

for careers in a globalised world

There are no simple answers but every school needs to engage with these issues, work out its own responses and posture, and deliver on them.

3. A global world is a plural world. The time for pluralism has come. For business schools this means:

there are many different models of being a business school

schools need to engender a genuinely plural outlook

there is a compelling case for schools to take a plural view of what counts for example, what counts as top-quality research

the hegemony of the US and to a lesser extent the European model of a business school will come under increasing pressure and we will see new, more plural models emerging

this will be reflected in a very different composition of, say, the Financial Times top 20 schools in ten years

4. Of course we need to listen to the voice of business but we should listen also to other voices and not let business drown these out. We need to attend to the needs of NGOs, take account of new developments in social entrepreneurship and new career aspirations of our students. We need to make sure that there is a proper share of voice for other stakeholders, not just the voice of business.

5. The job of a school, any school, is to create value. Each school needs to come up with a clear statement of how it is creating value, what is distinctive and compelling about this, the sort of value it creates and how it does so. Integral to this is clarity as to how a school is creating public value and the way in which it engages with broader social issues.

The 2008 meeting for Deans and Directors General will take place at the Copenhagen Business School, Denmark, on January 31st and February 1st 2008. The conference theme is Engagement and Innovation.More information available via www.efmd.org

Ulrich Hommel joins EFMD Quality Services

After successfully completing two pilot phases with a total of 14 accredited programmes, the EFMDs Programme Accreditation System (EPAS) has become part of the regular accreditation service to the EFMD membership since the beginning of this year. In order for EFMD to cope with the additional demands, Ulrich Hommel joined Quality Services as an Associate Director in May and will, after a transitional phase, take over responsibility for EPAS. He has been Dean of Academic Studies (2000-2002) and Rector (2003-2006) of the European Business School (EBS), Germany, and has been a member of the EPAS Programme Committee since 2006. Chris Greensted, who has been instrumental in setting up EPAS, will continue to serve as Associate Director, Quality Services, but mostly focussing on EQUIS.

EPAS represents an enormous opportunity for EFMD to shape quality improvement at the programme level. It can be instrumental in triggering change that may subsequently enable institutions with accredited programmes to achieve the EQUIS standard.

Talking shopNews and events in brief from the business world

The EFMD Advisory Services SeminarsDuring 2007 seminars have been organised at the EFMD head office in Brussels, on the following themes: Making the most of Bologna Executive education custom

programmes: how to meet your clients needs

How to design a successful research strategy for the benefit of your business school

An impressive international mix of institutions were represented among the workshop participants and workshop reports are available that capture the essence of the events.

Making the most of BolognaThe Bologna process with its harmonisation of higher education structures benefits from the 45 countries that are now involved. The interest goes far beyond Europes borders. The Bologna process provides business schools in Europe with the opportunity to strengthen their position and to explore international partnerships. Participants debated the opportunities and threats on the demand side, the supply side and at institutional level.

Positioning of programmes is of key importance in the harmonised and more transparent European HE area. However, there is a big question mark over how employers will react to the new bachelor graduates. And increased readability of degrees will lead to the need for differentiation, reputation and recognition on national and international stages.

Executive education custom programmes: How to meet your clients needsCurrently about half of executive education activities are customised. Approaches to custom programme design have evolved dramatically: from generic capacity building to achieving business impact. Michael Stanford from IMD summarised key lessons under four headings: Meeting clients needs starts

with choosing the right clients Meeting clients needs means

building the right kind of relationship with the client

It also means making the effort to understand what the clients needs are

Processes and systems are critical

At IESE, the focus is on changing behaviours and mindsets. Michael Rosenberg explained how IESE custom

programmes work with theme-modules and learning objectives.

The results of an EFMD survey of the profiles of its executive education providers helped participants to better understand the landscape.

How to design a successful research strategy for the benefit of your business school In order to excel in teaching and learning, the importance of research cannot be overestimated. This Advisory Services seminar started with Gordon Shenton elaborating on the appropriate mix between academic research, practice-oriented research and pedagogical development. Two in-depth case studies were explored London Business School and IMD both in terms of defining a research strategy and in the implementation. Participants were impressed by the research professionalism in the two schools, especially the elaborate processes in place and the ratio of support staff per faculty member.

More information on the Advisory Services seminars is available at www.efmd.org/advisoryservices

Quality improvement for the corporate learning functionThe CLIP Awarding Body recently awarded accreditation to the MLP Corporate University, MLP Finanzdienstleistungen AG, in Germany. CLIP Corporate Learning Improvement Process is a mechanism for quality benchmarking, mutual learning and sharing of good practice.

More information from www.efmd.org/clip

Quality improvement for online learningThe CEL Awarding Body recently awarded accreditation to the Online MBA programme at the University of Liverpool Management School in the UK.

So far six technology enhanced learning programmes have received CEL accreditation.

More information from www.efmd.org/celEFMD

Global Focus Volume 01_Issue 02 2007 pages 06_07

The 2007 Emerald/EFMD Outstanding DoctoralResearch Awards

International recognition and cash awardsfor the best doctoral researchEmerald Group Publishing Limited and the European Foundation for

Management Development (EFMD) celebrate excellence in management

research by sponsoring the Annual Outstanding Doctoral Research Awards

There are 10 awards, in different fields of management, open to those who

have completed and satisfied examination requirements for a Doctoral award,

or will do so, between 1 June 2005 and 1 October 2007

Award-winning entries will receive a cash prize of 1,500 (or other currency

equivalent), a certificate and an offer of publication in the sponsoring journal,

as a full paper, or as an executive summary/research note, at the discretion of

the Editor

Awards will be granted for research that demonstrates originality and

innovation, and makes an outstanding contribution to theory and its

application. The closing date for receipt of online applications is 1 October

2007. Visit the website below for more details

Professor Han G. van Dissel,

Dean at RSM Erasmus

University, commented on

Stefano Puntonis success

last year as follows:

Congratulations and pride

are in place with this

international recognition

There is no better advantage

we can offer our students as

future business leaders than

by ensuring they learn from

the best business thinkers.

Taranjeet Patel, winner of the

Management Science Award

in 2006, had the following to

say on her success:

Receiving the Outstanding

Doctoral Research Award

from Emerald and the EFMD

has indeed been a turning-

point in my career as an

academician and a

researcher ... Not only has it

led to recognition of my work

among peers and students, it

has also been a matter of

great pride to my employer,

ESC Rennes School of

Business. From my

viewpoint, the best part of

the award has been the

possibility of publishing in

Management Decision.www.emeraldinsight.com/awards

new style outstanding doc ad quarto.qxd 19/04/2007 09:36 Page 1

Catching the tide:EFMDs role in European education policies

JN FIGEl, EUROPEAN COMMISSIONER FOR EDUCATION, TRAINING, CULTURE AND YOUTH, OUTLINES EU INITIATIVES IN THE FIELD OF EDUCATION AND TRAINING AND CALLS ON THE EFMD TO CONTINUE AND STRENGTHEN ITS ENGAGEMENT IN THESE CRUCIAL ACTIVITIES

Global Focus Volume 01_Issue 02 2007 EFMDs role in European education policies by Jn Figel pages 08_09

The role of the European Union in matters of education and training is defined in the Treaty on European Union, which, since the Treaty of Maastricht in 1991, states that the community shall contribute to the development of quality education by encouraging cooperation between Member States and, if necessary, by supporting and supplementing their action, while fully respecting the responsibility of the Member States for the content of teaching and the organisation of education systems and their cultural and linguistic diversity.

Before 1991, the community role in education and training was based on a treaty article on vocational training, and indeed the Erasmus programme was launched on that legal basis since higher education also functions as training for the labour market. At present, the triple function of higher education is fully acknowledged: personal fulfilment, preparation for citizenship and training for the labour market.

Education and training thus remain very much in the hands of the Member States and within the Member States, regions often play an important role. There is a lot of diversity in European higher education. Higher-education systems vary from country to country and universities enjoy a great deal of autonomy within those national systems. There are some 4,000 institutions catering for different needs, varying from broad research-intensive universities to small specialised colleges training bachelors in specific fields such as nursing, teacher training or music.

4000...higher education institutions catering for different needs, varying from broad research-intensive universities to small specialised colleges

Figel: diversity in European higher education

Common objectives Lisbon and BolognaYet, all these systems and institutions share some common features and have some common objectives. The EU ministers of education and training acknowledged these commonalities when they agreed on a joint programme of work, called Education and Training 2010, as part of the Lisbon Strategy for Growth and Jobs. They agreed on common objectives such as fewer drop-outs and more participation in lifelong learning. They also agreed on a common approach with indicators, benchmarks, reports and analyses. This approach is called the open method of co-ordination. In the Bologna context, a similar approach is taken, called stocktaking. This measures progress made by signatory states in implementing the main Bologna objectives: the three-cycle system, quality assurance and recognition. The European Commission wholeheartedly supports the Bologna process as most of these objectives originate in commission initiatives (such as ECTS and quality assurance) and help to make European higher education stronger.

The commission has supported inter-university co-operation over the years with the help of the EU action programmes and notably Erasmus, Tempus and Erasmus Mundus. Millions of students have studied abroad with an Erasmus grant. Thousands of partnerships have been created between universities and university departments. Hundreds of networks and associations have established communities of professionals across the continents, be they rectors, deans, directors of study, professors, students or administrators.

Bologna curricular reforms are important but more is needed to modernise higher education in Europe. Governments should give institutions more autonomy. Universities should modernise the content of their curricula, create virtual campuses, reform their governance and professionalise their management of human resources, investment and administrative procedures, diversify their funding and open up to new types of learners, business and society at large.

In May 2006, the commission published a Communication (Delivering on the Modernisation Agenda for Universities

Education, Research and Innovation COM (20006)208 final, of 10 May 2006 http://ec.europa.eu/education/policies/2010/doc/comuniv2006_en.pdf ) identifying nine measures considered necessary to deliver the modernisation agenda for universities in education, research and innovation:

1. Break down the barriers around universities in Europe

2. Ensure real autonomy and accountability for universities

3. Provide incentives for structured partnerships with the business community

4. Provide the right skills and competencies for the labour market

5. Reduce the funding gap and make funding work more effectively in education and research

6. Enhance inter-disciplinarity and trans-disciplinarity

7. Activate knowledge through interaction with society

8. Reward excellence at the highest level

9. Make the European Higher Education Area and the European Research Area more visible and attractive in the world.

New initiativesA new commission initiative is the proposal for the establishment of a European Qualifications Framework (EQF) in September 2006, which will encompass all levels of education and training and promote mobility and lifelong learning. The proposed EQF is fully compatible with the Bologna Framework for Qualifications of the European Higher Education Area, adopted in Bergen in 2005. It provides a reference for teaching and learning expressed in terms of learning outcomes (knowledge, skills and competences).

The commission-supported university project Tuning Educational Structures in Europe has specified these common descriptors for more than 20 subject areas. The Tuning descriptors will inform the establishment of what are called sectoral qualifications frameworks at national and European level. I would expect EFMD to play an active role with regard to the emerging sectoral framework for business studies.

I would also expect EFMD to play an active role in helping to strengthen the dialogue between academia and the world of enterprise. This remains a weak factor in the European higher-education landscape. We need to reinforce the knowledge triangle of education, research and innovation if we want Europe to succeed in the global knowledge society. The proposed European Institute of Technology is one way of addressing this challenge.

I am aware that EFMD is at the forefront of these developments, with all its activities in the field of business training, quality labels and fostering modern entrepreneurship. I would encourage you to step up your engagement at European level, making full use of the opportunities offered by European programmes and policy dialogue.

ABOUT THE AUTHORJn Figel studied power electronics at the Technical University of Koice. After a career as a research and development scientist in this area for more than 10 years, he studied international relations at the Georgetown University in Washington and European economic integration at the UFSIA Antwerp.

His political career began in 1992 when he became member of the National Council of the Slovak Republic and from this time his career has demonstrated his dedication to the European ideal. He was the chief negotiator for the accession of the Slovak Republic to the European Union. Since 1 May 2004, Jn Figel has been a member of the European Commission and is now responsible for education, training, culture and youth.

The commission wholeheartedly supports the Bologna process as most of its objectives originate in commission initiatives and help to make European higher education stronger

Global Focus Volume 01_Issue 02 2007 EFMDs European involvement pages 10_11

Over the last few years the EU has gained new competencies and its role has expanded to several domains, including some that were traditionally exclusively a responsibility of Member States. Education is one area where the role of the EU is increasing both in co-ordination and inputs.

In this context, new opportunities arise and EFMD is playing a greater and more influential role in the EU arena. The reason is that the EU is more and more involved in initiatives and opportunities of interest to EFMD both in terms of policies and funding. Management education and development has gained a great momentum in the EU thanks to the launch of the Bologna process and the goals set by the Lisbon Agenda. In this context, EFMD is determined to capture the opportunity to promote its role as the European centre for management education.

While EFMD is a truly global organisation, its core values are rooted in the European tradition. This led to the decision in 2004 to establish an EU Affairs Unit within the EFMD Development Department. The new EU Affairs Unit aims at strengthening its efficiency and influence to the best interest of EFMD and its members.

With the aim of achieving ambitious goals in terms of efficient lobbying and higher visibility,

and also to bring more support for projects in which EFMD is involved, two new bodies have also been established: the EU Advisory Board and the EU Presidency Steering Committee.

The EU Advisory Board has been established to guide EFMD in its overall EU strategy and to help open doors at a top EU level. The Board is composed of former EU and public sector officials, including important personalities such as Viscount Etienne Davignon, Minister of State Willy de Clercq and John Palmer. The EU Advisory Board convened for the first time in March 2007.

In addition, an EU Presidency Steering Committee was set up in September 2006. Composed of Deans and Directors from future EU Presidency countries, this has been established to communicate topics of interest and concern for our membership in the area of management education and development to the up-coming EU Presidencies. The Steering Committee has a rotating membership that reflects the rotation of Member States holding the six-month EU Presidency.

Deans and Directors from the same country work closely together to address their home Member State governments in conveying the priorities of the Steering Committee. EFMD actively takes part in these negotiations together with the members of the Steering Committee. The following themes have been defined

as overarching focus areas to be followed up with the upcoming EU Presidencies (Germany, Portugal, Slovenia and France):

Quality measures and quality systems, with focus on internationally accepted quality standards.

Public funding of research in management education and management development.

Governance of university and business schools, ensuring a high degree of autonomy.

Moreover, as part of the new strategy, EFMD is actively looking for EU funding opportunities that support EFMD initiatives in line with its core mission. In this context, EFMD plans to extend its European benchmarking role. EFMD has also strengthened its links with other Brussels-based organisations operating in the field of business and management education and development.

FURTHER INFORMATIONFor more information please contact Sara Carrer, European Affairs Manager at sara.carrer@efmd.org

EFMDs European involvement

Sara Carrer: European Affairs Manager

The Bologna effect:the emerging European masters marketGORDON SHENTON AND PATRICE HOUDAYER DESCRIBE HOWTHE BOLOGNA PROCESS, ALONG WITH EUROPEAN-SPECIFICACCREDITATION AND RANKING SYSTEMS, IS REVOLUTIONISINGTHE EUROPEAN MARKET IN MASTERS DEGREES AND GIVINGIT GLOBAL COMPETITIVENESS

European business schools are in a much better position to compete in world education markets than was the case ten years ago. Beyond the qualitative improvement of many institutions individually, a number of factors of a systemic nature have contributed to this stronger competitive position.

The general background to this change has been the gradual emergence of a European market for management education that has impelled schools and universities to internationalise their activities beyond the borders of their home countries. This movement has itself occurred in a context in which a more structured world market has been steadily taking shape, reinforcing the need for European institutions to internationalise.

Three factors have accelerated this process of change.

First, rankings in the European press, notably in the Financial Times, have raised awareness within schools of their externally perceived positioning in international markets and encouraged them to improve their standing. European schools were used to the idea that, with a few exceptions such as London Business School, INSEAD and IMD, they carried little weight in American rankings and were mostly concerned about their position in their own national environment.

However, this all changed when the first serious and credible rankings began to appear in Europe itself. Not only were they able to see how they stood in comparison with American schools,

but they were confronted with their competitive standing on the European scene. Being in the top 10 (or 15 or 25) in Europe has become a popular strategic objective among business school deans as a first step towards establishing an international brand.

Second, the arrival of accreditation ten years ago, when the AACSB first began to assess schools internationally and when EQUIS was launched as an alternative, transformed the competitive environment in Europe. Business schools and university faculties of business and management have been driven to measure themselves against international standards of performance.

EQUIS in particular has turned a searchlight on a broad spectrum of quality criteria ranging across key areas such as effective governance, better qualified academic staff, improved programme quality, increased concern for the professional development and employability of students, stronger research capacity, and, of course, internationalisation.

The fact that Europe has been successful in establishing its own respected accreditation system has contributed to the global credibility of European management education. It is significant that, out of around 100 accredited schools and universities, close to one-third are from outside Europe, including leading institutions from around the world.

A third, decisive, factor in this strengthening of the international positioning of European business schools has been the impact of the Bologna reforms in higher education. Forty-five European countries have now committed

themselves to the creation of a more coherent European Higher Education Area with a target date of 2010 for completion of the structural reforms.

All the signatory countries have agreed to converge on a two-cycle system with a bachelors degree of not less than three years and a second masters level of an unspecified length, the objectives being to create readable degrees, to facilitate student mobility and to raise the competitiveness of European higher education on world markets.

Moreover, the bachelors degrees are intended to be a sufficient qualification for graduating students to enter directly into employment. This latter objective does, of course, raise very difficult problems in continental Europe where students are not used to leaving university after three years of study, where universities are used to keeping their students for five years and where employers are unaccustomed to recruiting students for managerial positions after three years of higher education.

Global Focus Volume 01_Issue 02 2007 The Bologna effect by Gordon Shenton and Patrice Houdayer pages 12_13

EQUIS in particular has turned a searchlight on a broad spectrum of quality criteria ranging across a number of key areas

1025Being in the top ten to 25 in Europe has become a popular strategic objective among business school deans as a first step towards establishing an international brand

However, at the masters level, this clarification of degree formats and the introduction of internationally readable degree titles are proving to be significant marketing advantages, not only in Europe but on international markets generally. For the business schools and universities, these reforms have generalised for the whole of Europe an officially recognised masters market that previously only existed in a few countries, notably in Britain where the two-tier undergraduate/postgraduate, bachelors/masters organisation of higher education has been the norm. In continental Europe, the most common structure was formerly a four- or five-year curriculum leading to an advanced degree but with no significant intermediate degree after three years.

In the absence of any clear distinction between undergraduate and graduate levels, it was very difficult to argue that a degree obtained after five years of study was in reality the equivalent of a masters. As a result, these advanced degrees were often downgraded in international perception to the undergraduate level. In their negotiations with their American partners, for example, the French grandes coles have struggled for decades to obtain graduate-level recognition for their five-year degrees.

This is not to say that there was no masters market in continental Europe before the Bologna reforms. Some institutions in, for example, France, Spain, Italy, the Netherlands and Scandinavia had been offering programmes carrying the masters label for many years, even though there was (at that time) no official government recognition of the degree. However, they were often private schools or spin-offs of a university business faculty operating outside the mainstream of higher education and dependent on market recognition.

It is in this context that the MBA has developed in continental Europe, independently of the public universities and outside the regulated degree systems. In this non-regulated environment, these schools have pioneered a uniquely European version of the MBA as a shorter, more focused, more corporate-oriented degree in which a concern for soft skills and personal development are paramount. However, the continental European masters market has remained small, underdeveloped in comparison with America or Britain and very uneven in its geographical spread from one country to another. Until very recently, for example, Germany was almost totally absent from the international MBA market.

Of course, a change of this magnitude is not occurring without a certain level of confusion. On the one hand, university faculties of business and management are faced with the difficult task of adjusting their educational mindset to the notion of a graduate curriculum that is other than simply the repackaging of the last one or two years of their previous five-year programmes.

A raft of thorny questions arises. How professionally oriented should these new masters programmes be? How specialised should they be? Should they be one-year or two-year programmes? Should it be a requirement to have studied at the bachelors level in the same field of study? Should admission to the masters level be automatic for a student who has completed the bachelors degree at the same university?

The risk is that in some cases change will be purely cosmetic, enough for formal compliance with the new laws but not sufficient to achieve the objectives set out in the Bologna agenda. Indeed, many universities are stuck in the middle of the change process, having made some accommodation to the new structure but without having given up many of the features of the old one. In these cases, the new degrees are even less readable than previously. One can charitably assume that these are growing pains and that the supply side of the market will eventually sort itself out. However, the essential point is that the opportunity now exists for the most innovative and progressive university-based institutions to seize market advantage in the new European arena.

In the absence of any clear distinction between undergraduate and graduate levels, it was very difficult to argue that a degree obtained after five years of study was in reality the equivalent of a masters

Global Focus Volume 01_Issue 02 2007 The Bologna effect by Gordon Shenton and Patrice Houdayer pages 14_15

On the other hand, there is uncertainty as to how the new Bologna masters will co-exist with the previous postgraduate masters programmes that predate Bologna and that were designed from a different market perspective.

The position of the MBA, in particular, in the new emerging market is not entirely clear and there has been a risk that the MBA title would simply be used to describe the new Bologna pre-experience masters. Some difficulty also exists in repositioning the specialised postgraduate programmes that previously recruited students who had graduated with a first degree. In continental Europe, this meant recruiting students who had usually completed five years of higher education, up to a level that now corresponds to a masters.

Should institutions offering these degrees recruit at a lower age after a three-year bachelors programme? Or should they talk about an advanced masters and continue to recruit older students who already hold a masters degree?

These are issues that will be resolved in time as the market adjusts to the new situation. However, in parallel to the opening up of a masters market through the implementation of the Bologna agenda, an effort has been made within the management education community to clarify the nomenclature of masters degrees, given the extreme diversity within this category.

EFMD in collaboration with the EQUAL group of national associations has sought to distinguish between the MBA as a post-experience professional qualification and the new pre-experience generalist masters programmes which should carry another name such as a Masters in Management or MSc in Management. It is also recommending that the category of specialised Masters in Finance, Marketing, and so on should be distinguished both from the MBA, which is a generalist programme, and from the generalist Masters in Management for younger students. The aim has been not so much to regulate the market as to clarify the landscape so that students and the organisations that recruit them have an understanding of some basic distinctions.

These recommendations have been largely followed within the community of EQUIS accredited schools and beyond. A proof of this has been that the Financial Times

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45Forty-five European countries have now committed themselves to the creation of a more coherent European Higher Education Area

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Shenton: new European arena

Thanks to the convergent impact of Bologna, of accreditation and of the rankings, European business schools and university faculties of business are potentially in a much stronger competitive position internationally

now publishes an annual ranking of this new category of European Masters in Management, thus helping to raise awareness of the significance of this typically European qualification.

As a result of these convergent trends, a structured market for masters programmes in business and management is taking shape in Europe around three clearly differentiated segments: the MBA, which will now benefit from official recognition as a national degree in most countries; the generalist Masters in Management; and the specialised MSc programmes. The offering on this market is now much more understandable (or readable in the Bologna terminology) to all stakeholders both in Europe and in the rest of the world. Degree formats are now better aligned with the American and British systems and the use of the word masters to designate second-cycle degrees has put an end to the confusion caused by so many disparate names.

However, this offering is a specifically European one and is not simply a replica of the American market. The MBA, which has long been established in Europe, has evolved its own distinctive European characteristics. The Masters in Management, which is beginning to gain visibility, is also a characteristically European programme, different from the MBA, different from the four-year American undergraduate degree and different from the specialist MSc degrees. It is rooted in the European practice of pre-experience business education, combining at its best the academic rigour of the university tradition, practical exposure to the world of business and a highly developed international perspective. However, the particular mix and emphasis in each country will be different. Although the Masters in Management now has a transnationally recognisable format, it is not a standardised product since it reflects the diversity of culture, values and practice of more than 40 countries.

Thanks to the convergent impact of Bologna, of accreditation and of the rankings, European business schools and university faculties of business are potentially in a much stronger competitive position internationally. The emergence of a credible offering in all segments of the masters market should make it possible to increase inter-European student mobility and to attract increasing numbers of international students to European schools. In particular, the appearance of the Masters in Management as a globally recognisable product can for the first time draw mainstream European management education programmes into the world market.

How well and how extensively these opportunities are exploited will, of course, depend on the schools and universities themselves. The market is still unstructured, with many uncertainties regarding the behaviour of students and employers. There are legitimate doubts about the capacity of many European universities to transform their curricula and to make the necessary adjustments to their governance structures that would allow more market-oriented strategies. However, the market will be made by the leaders, by the forward-looking, innovative institutions that can test new programmes, attract students from around the world, and convince employers to recruit them.

ABOUT THE AUTHORSGordon Shenton is Associate Director of the EFMDs Quality Services Department and Emeritus Professor at EM-LYON Business School

Patrice Houdayer is Dean of Academic Programmes at EM-LYON Business School.

Global Focus Volume 01_Issue 02 2007 pages 16_17

EFMD

The EABIS-EFMD Survey benefits from the vision and thought leadership that each party brings to the corporate responsibility debate at a time when its relevance in the European arena is higher than ever. Together we will continue to pioneer the development of better knowledge, understanding and practices that have concrete, immediate value for business, policy makers, stakeholders and management educators.

Viscount Etienne Davignon, Chairman EABIS and Vice-Chair, SuezTractebel

Business leaders and prominent academics will get to see the value of and results generated by this strategic partnership, not through stand- alone ventures, but EFMD and EABIS working hand-in-hand to define the knowledge and skills required by todays and tomorrows managers.

Prof. Eric Cornuel, Executive Director EFMD

2ND EFMD/EABIS SURVEYLaunched on Corporate Responsibility in management developmentEABIS and EFMD Members leadership to be profiled in largest ever online Public Directory.

On Friday 11 May 2007 the European Academy of Business in Society (EABIS) and EFMD, with the academic support of ICCSR at Nottingham University Business School, officially launched their 2nd European Survey on Corporate Responsibility in Management Research, Education and Training.

This vital initiative follows an inaugural survey run in 2003, and will generate a state of the art Public Directory for EABIS and EFMD members to highlight their success in integrating corporate responsibility into the mainstream of management education and research.

All EABIS and EFMD Members have been invited to contribute, reinforcing the strategic partnership between Europes reference networks on corporate responsibility and management development. A profile in the EABIS/EFMD Public Directory will enable Members to:

Demonstrate institutional innovation and leadership

Benchmark best practice against and learn from other schools

Connect with a global audience of potential students and applicants

Showcase programmes to executive learning decision-makers and corporate recruiters

Inform European research and policy agendas

Measure mainstreaming progress since 2003

DeadlineThe deadline for Member Survey submissions is Friday 22 June 2007

Further informationFor more information, please contact Matthew Wood, EFMD Communications Director:E: matthew.wood@efmd.orgT: +32 2629 0810

ResultsTo access the results of the 2003 EABIS/EFMD Survey, please visit www.eabis.org/directory

The quiet American?NOT REALLY. THE UNASSUMING CHICAGO GSB DEAN EDWARDSNYDER KNOWS HOW TO HAND IT OUT WHEN HE THINKSIT NECESSARY. HE TALKS TO GEORGE BICkERSTAFFE

A quiet, friendly and unassuming man, Edward Snyder is still not averse to occasionally throwing a cat into a pigeon loft. And as dean of the University of Chicagos Graduate School of Business (GSB) people tend to take notice when he does.

He certainly ruffled a few feathers in January 2007 when in the Deans Corner slot in the AACSBs online newsletter he castigated what he sees as the growing trend to describe (and treat) business school students, and especially MBA students, as customers.

The problem with this, he wrote, is that the model is corrupt and corrupting. Treating students as customers doesnt help them develop. Do we really want to tell them that they are customers and that they are always right when we are in the last, best position to influence their overall academic, ethical, and professional development? Of course we shouldnt. What other responsibilities should we abdicate?

His answer is what he calls stretch and support.

We should set high expectations of our students. When they meet them, shine the light and recognise them. When they dont, kick them in the butt, his article prescribed.

Typically self deprecating, he comments on the article now that: I dont want to overplay it and I know students pay a lot of money. But I think its [the students as customers model] a bad paradigm. I think students get more out of

Global Focus Volume 01_Issue 02 2007 The quiet American? Edward Snyder Interview by George Bickerstaffe pages 18_19

a programme the more they put into it. So I think the correct approach is to set very high expectations for the students but also to support them a mixture of pressure and pats on the back and the customer model doesnt really do that.

He argues that treating the student as customer became the dominant model in the 1980s and he suggests that people have not thought through the implications. While business schools obviously have to remain responsive to the demands placed on them, he thinks that the customer model can pull them in different directions.

Prof Snyder also believes that, in terms of preparation for graduates future careers, spending the last two years of their educational life thinking of themselves as customers does not really get them into the right frame of mind. Instead they should be thinking of the responsibilities they have and will have in the future.

Finally, says Snyder, when he came to Chicago in 2001 he faced a number of major challenges, in particular how to change the culture of the school and its representation of itself to the outside world

I had to ask people for a lot of help how do we do this together? If students are thinking of themselves as customers, maybe this is not the way to get them to help with that.

In part, he agrees, his approach does reflect some of the current concerns about management education and business in general, though he puts it fairly mildly.

I dont worry about people earning a lot of money. Thats a fine thing. Success is great, he says. But I do worry about the narrow orientation [towards high earning power] in a lot of society and I dont think that serves students well.

Prof Snyder joined the Chicago GSB (he gained his MA and PhD from

the economics department of the University of Chicago and perhaps only half-ironically refers to the GSB as the best business school in the galaxy) in 2001 after three years as dean of the Darden School at the University of Virginia and a long period at Michigan business school.

Although he says that he would not yet identify a greatest achievement at Chicago (preferring to stress the integrity and quality of the schools students and faculty and the importance of consistently delivering the Chicago experience), his achievements in his six-year stint so far are in fact impressive.

Perhaps in specific terms the most significant so far has been the delivery on time and on budget of a new US$125m building in the middle of the university campus, something that had caused some controversy before his arrival. (Though, on reflection, Prof Snyder would also list the opening of a campus in London.)

In focusing the school in one location (it was previously spread across a number of different buildings) Prof Snyder has also helped develop much more of a community spirit among students, aided by his regular coffee mornings with them.

He has also helped to increase the schools endowment from $187m in 2002 to its 2006 level of $346m. He performed a similar feat at Darden and this may well have attracted the eyes of the GSBs head-hunters.

Certainly, the powers-that-be seem pleased with their choice. Prof Snyders official profile from the GSB notes that he has strengthened the schools values with the objective of ensuring that Chicago continues to offer the most challenging academic programmes of any business school in the world. His other main strategic imperative has been to strengthen the schools relationships with business and alumni around the world for the dual purposes of (a) increasing opportunities for GSB students and alumni, and (b) increasing the schools influence

3%Snyder contends that by most criteria business schools have been a very successful industry over the last few decades, growing in real terms at around 3% a year

I dont worry about people earning a lot of money. Thats a fine thing. Success is great, but I do worry about the narrow orientation [towards high earning power] in a lot of society and I dont think that serves students well

so that it can continue to help improve business practices, increase performance, and strengthen the worlds market-oriented economies.

That reference to market economies is significant. There has been some debate in the business academia world in recent times about the importance, and in particular relevance to the real world, of some academic business research. The old charges of esoteric research in obscure journals with no relevance to business have been receiving some energetic re-polishing.

Prof Snyder comments that I really think that not all schools have to be research oriented. And not all that are research oriented should do the same type of research. However, he does really share the concerns about the relevance of research at least at Chicago. He says he is confident about what the school has to offer and points out that in his experience the faculty who students really value are those who are leaders in their research field. But he does caution that it is very difficult to know which research is relevant.

In any case, he argues that the contribution business schools have made to business is considerable. He contends that by most criteria business schools have been a very successful industry over the last few decades, growing in real terms at around 3% a year.

And more importantly, he says, they have been largely instrumental in helping create the conditions to establish a global economy that has brought (through China and India and other countries) many billions of people into economic activity.

At the very least, he says, business academia has created a common language for people to do business around the world.

Under Prof Snyder, Chicagos own global ambitions have been undertaken cautiously and on its own terms. It has steadfastly refused

to follow many other schools in establishing strategic partnerships and what he calls hyphenated degrees, preferring instead to establish its own campuses outside the US, first in Barcelona (now transferred to London) and then Singapore.

It was a strategy in place at the GSB when Prof Snyder arrived and one he has been happy to maintain (overseas business strategy is one of his own areas of academic research).

Businesses might use joint ventures as an initial strategy to enter a market but they dont use them long term, he points out. The joint venture model has problems. Im not saying we are perfect or anything but if we have problems with a curriculum or with operations, then no one is pointing a finger at anyone else. Its hard to get things right with two cooks in the kitchen. Joint ventures arent impossible to pull off or wrong in themselves theyre just not for us.

But Chicago GSB seems definitely for him.

A question about whether he has any regrets about his time there so far leaves him nonplussed. Instead of answering he ruminates about the lessons he has learned. The main one, he finally decides, is that he has learned how to ask for help.

Not that he really seems to need it.

$346mSnyder has also helped to increase the schools endowment from $187m in 2002 to its 2006 level of $346m

Global Focus Volume 01_Issue 02 2007 The quiet American? Edward Snyder Interview by George Bickerstaffe pages 20_21

Global Focus Volume 01_Issue 02 2007 PIPS is launched pages 22_23

Over the past year, EFMD has worked with four member schools Copenhagen Business School, ESADE, Solvay Business School and Warwick Business School to prepare PIPS Programme for Innovation in Public Services, a new post-masters programme.

The PIPS initiative arose from a perceived need for public service leaders to develop a more pan-European perspective on the issues they face by learning from each other and developing innovative approaches to their national challenges and initiatives.

The intention is that the programme will enable them to facilitate positive transformational change within public services, thereby improving both operational efficiency and client services.

The programme will last ten months and will consist of 250 contact hours with Internet-based support.

A number of innovative elements have been introduced:

A pre-programme workshop for organisational sponsors will ensure that there is close linkage to institutional priorities

Programme workshops will be held in three different locations around Europe

Participants will visit a number of public service organisations to witness examples of best practice

Groups will be formed to work on Strategic Learning Projects sponsored by their organisations. These projects will be pan-European in scope and will tackle major issues facing public-service organisations

A number of virtual learning tools will be used to help participants develop the skills and confidence to use these as part of their normal operating practices

The first sponsors workshop will take place in November 2007 with the main programme beginning in January.

To find out more about PIPS, please contact: Florence.Gregoire@efmd.org or see the website: www.efmd.org/pips

Distance learningand collaboration

8 weeks

12-14 weeks

20-24 weeks

SPONSORSWORKSHOP

08 / 09 NOVEMBER 2007

WORKSHOP 1(4 DAYS)

JANUARY 2008

WORKSHOP 2(4 DAYS)

APRIL 2008

WORKSHOP 3(3 DAYS)

OCTOBER 2008

ALUMNI NETWORK

PIPS Programme Overview

Programme for Innovation in Public Services a new post-masters programme

A real gap exists with regards to application-oriented research made available and adopted by corporations to address new issues. Business schools and Corporate Universities need to play a key role in creating more synergies.

A global survey conducted by the IBM Institute for Business Value has demonstrated that CEOs see innovation as the top requirement for their companies to compete in fast-changing global markets. However, competitive advantage cannot merely be achieved through innovative products and services innovation is increasingly integrated into processes and business models, which leads to the creation of new management practices, methods and tools.

As these changes move ever-more rapidly, Corporate Universities (CUs) face the challenge of equipping employees with new skills to support cultural changes as well as organisational transformations. They must adapt and re-shape the development programmes offered to their executives, managers and talent pools.

The question arises as to the role that business schools, with their research capabilities, play or should play in this development. In the fields of technology and engineering there are frequently long-standing research partnerships between universities and corporations. But this is not necessarily the case for business and management disciplines.

While managers tend to be sceptical about the impact and validity of academic research for management, there also seems to be a broad consensus that a good deal of innovation is required in todays management concepts, practices and tools. Where could this innovation come from?

RICHARD STRAUB ASKS HOW BUSINESS SCHOOLS AND CORPORATE UNIVERSITIES CAN CREATE MORE SYNERGIES

CUs face the challenge of equipping employees with new skills to support cultural changes as well as organisational transformations

Research with a business edge

Global Focus Volume 01_Issue 02 2007 Research with a business edge by Richard Straub pages 24_25

Anecdotal evidence suggests that there is little to no involvement of CUs in research in the field of management studies. Rather, they tend to learn from their own in-house experiences on the fly, try to make this learning available to a larger audience, and involve business schools along with other education providers for delivery of education and learning programmes. In this sense companies are living laboratories for innovation and research in management practices.

Company executives are not only interested in understanding and leveraging emerging practices based on todays experiences. They are keen on anticipating new global trends and positioning their companies for the future. Some business schools have embraced this important area of trend-spotting, including the analysis and impact-assessment of future scenarios for management.

However, this area is currently mainly occupied by specialised research organisations, particularly those attached to large consulting firms, which use the opportunities offered by their global scale to drive research projects that appeal to clients with access to the results. Such research projects are normally part of an overall long-term strategic framework established by these client companies, which guarantees the consistency and coherence of the research over time.

It also provides a basis for developing new consulting methods and offerings. An example is the IBM Institute for Business Value, which has developed unique research capabilities at the intersection of business and technology.

Though all this leads to the question of better synergies between business and academia in the field of management studies, the experience of the last 10 years has shown that the implementation of such linkages is a bigger challenge than anticipated.

There have been recent initiatives to improve the understanding of the link between research, education and innovation and to produce sound information on how to act on it.

The Global Innovation Index (GII), released by INSEAD in January 2007, is one example. The GII aims to show how different countries and regions respond to the challenge of innovation by analysing their ability to adopt and benefit from new technologies, increased human capacities, operational and organisational developments, and improved institutional performance.

Company executives are not only interested in understanding and leveraging emerging practices based on todays experiences. They are keen on anticipating new global trends and positioning their companies for the future

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Five out of the eight pillars underlying the GII represent aspects that enhance the capacity of a nation to generate ideas and leverage them for innovative products and services. (See http://worldbusinesslive.com/article/625442/the-worlds-top-innovators-index/)

In addition, EFMD has developed quality improvement schemes for business schools and for corporations that place significant emphasis on research and innovation and synergies between business schools and the corporate world. The EQUIS accreditation standards, for example, include the quality and relevance of the research produced by academic faculty.

At the same time, the CLIP (Corporate Learning Improvement Process) accreditation scheme for CUs and equivalent corporate learning organisations puts significant emphasis on the innovation focus and capacity of CUs and points specifically to the need for ongoing research in the field of business enterprise and management either undertaken or sponsored by CUs.

As Yves Doz describes it in a forthcoming article Building a community of learning through collaborative research, managers and academics can be co-creators of applied knowledge in the management field provided they work closely together. Prof Doz has just completed a major research project on strategic agility where he worked alongside the former head of strategy and CIO of Nokia, Mikko Kosonen, and with the participation of major corporations such as Cisco, Hewlett Packard, IBM, Intel, SAP and STMicroelectronics. The joint research will be published in a book later this year. This demonstrates that co-creation of inductive theories can become a reality.

The message to business schools and CUs is clear: research in the field of management education needs to be relevant to corporate needs but also innovative and rigorously conducted.

In parallel to the development of such tools for assessing the quality and relevance of research, several innovative business schools and companies have embarked on initiatives to link business school research to the requirements of the corporate world.

One recent example is the joint research by the Duke Center for International Business Education and Research and Booz Allen Hamilton. This project researched the issue of the globalisation of white-collar work, especially offshoring and outsourcing, including how to develop a global workforce-sourcing strategy.

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Global Focus Volume 01_Issue 02 2007 Research with a business edge by Richard Straub pages 26_27

Another example is the London Business School Management Innovation Lab, which works on selected projects in tandem with corporate partners. The typical partnership lasts between two months and two years and the underlying model operates in four phases (tackling new challenges, deconstructing management orthodoxies, searching for new principles, and experimenting, learning and adapting) while at the same time working towards a disciplined methodology and toolkit.

The Learning Network at IMD in Lausanne is yet another example of close co-operation between the academic and corporate worlds. An array of mechanisms are deployed by IMD to exchange best practice while stressing that the development of real-world material is done according to the key principles of focused research on practical challenges facing real companies and that the translation of insights into relevant output and materials involves both teaching faculty and executives.

Helsinki School of Economics (HSE) strategy is based on combining multidisciplinary scientific rigour and practical relevance in selected areas. An example is HSEs Center for Knowledge and Innovation Research (CKIR), which focuses on managing global innovation processes, facilitating the development of human-friendly technologies, all in so-called living-lab experiments in which new services are evaluated in real-life settings.

There are a variety of opportunities that just a few corporations and business schools have so far taken up. By taking advantage of their different approaches to research, business education providers and corporations can draw considerable mutual benefits from collaboration.

Joint research would provide business schools with insights into emerging trends in the corporate world and allow them to align their own research projects to the needs of companies and refine their programmes so they are best geared towards preparing future leaders.

Furthermore, educational institutions would gain an insight into the multi-disciplinary approach that corporate research is increasingly adopting.

There are a variety of opportunities that just a few corporations and business schools have so far taken up. By taking advantage of their different approaches to research, business education providers and corporations can draw considerable mutual benefits from collaboration

ABOUT THE AUTHORRichard Straub is the EFMD Director of Development and CLIP

FURTHER INFORMATIONA shorter version of this article was published in the Financial Times Special Report on Corporate Learning on the 19th March

JOHN PETERS SUGGESTS AN ALTERNATIVE TO PEER CITATION TO ASSESS WHICH PUBLISHED MANAGEMENT RESEARCH IS NOT ONLY RIGOROUS BUT ALSO RELEVANT TO BUSINESS

A better way to measure the value of management research?

Downloads have a number of advantages over peer citation. They take in a much wider reference group students, researchers and practitioners. Citation measurement is limited to people using a paper in order to write another paper

Global Focus Volume 01_Issue 02 2007 Measuring the value of management research by John Peters pages 28_29

14millionAcross Emeralds 150 or so management titles around 14 million downloads were recorded in total in 2006

Business school researchers often seem to live in a somewhat schizophrenic world, beset on one side by those who preach the need for rigour, measurement and proof and on the other by business leaders seeking relevance and real-world application.

Those of us who work in the scholarly publications business suffer some of the same challenges. As publishers we are an important part of the legitimising process. We are sometimes asked by our authors and editors to create publishing vehicles that are A-list very rigorous, often very quantitative, carrying high regard among the right kind of peers and therefore likely to be highly cited (or at least citable).

A-list publishing follows the system of academic peer review, which was adapted directly from scientific research. It sits alongside its brother-in-arms peer citation measurement as an arbiter of quality of output. These measures have helped establish management studies as management science establishing it as a proper field for scholars to operate in.

But A-list publishing carries the danger of what I call the Studio 54 effect the New York nightclub so desirable among 1970s and 1980s fashionistas that it became virtually impossible for non-celebrities to get into.

The ISI citation index (now branded as Thomson Scientific) is published by the giant Thomson Corporation and comprises a strictly limited list of journals that are carefully assessed before being included. Peer-citation is a closed system of judgement, only measuring which researchers writing in other indexed journals quote a particular article.

The A-list of scholarly business journals is dominated by scholars from elite institutions most of them based in America. The Web of Science journal citation reports (2005 data) show that the top 19 journals are all US-based (although some, such as Research Policy, have significant European representation). Number 20, Organization, is a European journal.

The most published fields in management are dominated by specialist and science-derived areas behavioural sciences, technology management and information-system management along with, to a smaller extent, strategic management, leadership and corporate governance.

More interdisciplinary and, interestingly, inter-cultural research fields such as international business are well down the list (although some international business research does get published in some of the top generalist journals). There are no business ethics journals in the top 70.

There is, I believe, a darker aspect to an obsession with peer-citation as a major arbiter of quality. The system of researchers writing for other researchers, citing each others work in a benevolent cycle of reciprocity, perpetuates the status quo. It leaves little opportunity for entry to those

from emerging economies or from second-tier institutions or indeed for those unwilling or unable to understand the (mostly) unwritten rules of scholarly publishing.

This status quo has a number of pernicious side-effects. Rather like a Victorian gentlemens club, it keeps out the wrong sort through a subtle series of systematic exclusions governed by the members.

But too much exclusivity is bad for the system that perpetuates it. Knowledge and scholarship has an ecology that thrives on and is strengthened by diversity, as is any other eco-system. And peer-citation measurement may well reward rigour but what of relevance? In the end, business scholarship does not exist in a sealed universe, serving itself. It must serve the business community and, in doing so, a wider social need.

There are solutions to the problems of exclusiveness and in-breeding. One is to broaden the measures of quality, something Emerald Publishing has done by looking at download measurements.

A nice publishing industry anecdote is that sales reps used to go into libraries around renewal time, take out the journals published by their firm and crease their spines and covers to make them look well-used. Today we and librarians measure downloads of papers and visits to journal homepages with meticulous accuracy to industry-agreed standards.

This technology enables us to track the popularity of a journal, an article, an author or a topic. It enables librarians to track value for money, dividing subscription prices by downloads to come out with average price-per-download metrics.

A download of a paper is a reliable proxy for readership and this in turn is a reliable proxy for its usefulness. Since self-evidently a journal in the field of management should ultimately be useful, in being both relevant and rigorous, this gives another dimension to an assessment of quality. Ive listed some of the research studies we have been involved with on usage measurement in the references section and would be pleased to share these with readers on request.

Downloads have a number of advantages over peer citation. They take in a much wider reference group students, researchers and practitioners. Citation measurement is limited to people using a paper in order to write

another paper. Usage is not limited to a restricted number of sample journals and carries no implications of reciprocity (you cite me and Ill cite you). Usage is a consumer-driven statistic.

Crucially, a downloaded paper is we have found much more likely to be easy for a user to understand. Another publishing industry joke is that the typical peer-reviewed journal paper is likely to be read by 1.7 people on average including the author.

Across our online collection in 2006, Emeralds 150 or so management titles (including both our high citation-index listed titles and our unlisted ones) recorded around 14 million downloads in total. Recently published papers (last 12 months) averaged more than 1,000 downloads each across pretty well every country in the world. Thats a lot of readers.

But the crucial difference will be made when the scholarly community itself, starting with the leaders of our scholarly institutions, challenges the system. A systematic exclusion of scholars from emerging economies, which perpetuates stasis in the name of quality and exclusion in the name of rigour, cannot survive. Government research funding under systems such as the UK Research Assessment Exercise can often serve to perpetuate such inequalities.

On the whole, the more prestigious the journal, the more limited the dissemination. The more prestigious the journal, the more specialised it tends to be. But management is a multi-disciplinary function. Problems are rarely function-specific.

None of us, teachers, researchers and publishers alike, should be in management scholarship simply to talk to each other. Good managers in successful organisations, whether business, public administration, social enterprise and others, can change the way people live for the better. Poverty and inequalities can be addressed most quickly by people learning how to be good managers. There is a wider purpose to address than preservation of the status quo.

We would like to work with both the elite, and the rest, to create and disseminate research output that is inclusive, international, useful, rigorous and relevant. We cant do that alone.

FURTHER INFORMATION REFERENCES AND FURTHER READING

Some citation and usage indexing issues for managers and management researchers, Paul Evans, Paul Harrison and JC Spender, presented to the August 2006 Academy of Management conference, Atlanta Georgia, USA

Analysis of the dispersal of use for journals in Emerald Management Xtra (EMX), Paul Evans and John Peters, Interlending & Document Supply, Volume 33, Number 3, 2005, pp. 155-157(3)

Big Deal usage a case study with Emerald Fulltext, Llus M Anglada, Angel Borrego, Paul Evans and John Peters, Library & Information Update November 2005

For information on the ISI Web of Science and Thomson Scientific journal citation index, see http://scientific.thomson.comInterestingly, and pleasingly, Thomson have now (Spring 2007) launched a corollary to the citation index, which measures journal usage.

ABOUT THE AUTHOR

John Peters is chief executive of Emerald Group Publishing Limited. Emerald works on a number of research and publishing initiatives with the EFMD, including the Emerald/EFMD Outstanding Doctoral Research Awards. Before joining Emerald in 1999, he worked as a management consultant and teacher in the UK, North America and Australia.

Contact jpeters@emeraldinsight.com

1000Recently published papers averaged more than 1,000 downloads each across pretty well every country in the world

Global Focus Volume 01_Issue 02 2007 pages 30_31

EFMD 2007 Annual Case Writing Competition

EFMD

Awards of 52,000 will be made for cases in each of the following categories: European CategoriesCorporate Social Responsibility Sponsored by Instituto de Empresa, SpainEntrepreneurship Sponsored by E.M. Lyon, Spain Family Business Sponsored by the Family Business NetworkFinance and Banking Sponsored by Toulouse Business School Groupe ESC Toulouse, FranceSupply Chain Management Sponsored by Supply Chain Excellence ISLI Bordeaux Business School, France

Corporate CategoryCorporate Coaching Sponsored by EFMD

Special CategoriesEmerging Chinese Global Competitors Sponsored by EFMD

Euro-Mediterranean Managerial Practices and Issues Sponsored by Euro-Med Marseille, Ecole de Management, France

Public Sector Innovations Sponsored by Cyprus International Institute of Management (CIIM), Cyprus

Case submission deadline: August 31st 2007Final judging meeting: February 2008

www.efmd.org/casecompetition

For more information, please contact Virginie Heredia-Rosa by email: virginie.heredia-rosa@efmd.org

CAll FOR ENTRIES

Revised EQUIS Standards and Criteria receive official approvalRevised EQUIS Standards and Criteria were officially approved by the EQUIS Committee at its meeting on February 22nd 2007. The new Standards and Criteria will come into effect for all EQUIS Peer Review Visits planned from August 2007 onwards.

The document replaces the material that was previously set out in two of the founding EQUIS texts: the Guidance Notes and the Guide to Self-Assessment. While the revision has not involved any substantive change within the EQUIS system, it does represent an extensive updating of the material and an attempt to provide a clearer and more user-friendly document for those involved in the EQUIS process. In addition to offering a comprehensive presentation of the standards and criteria, the document is intended to serve as a detailed guide to schools that are preparing their self-assessment report.

In drafting this revised and merged presentation of the standards and criteria, the following objectives were being pursued:

Clarify existing texts where experience has shown that there is ambiguity or imprecision in the formulation of the criteria. A particular effort has been made to clarify the terminology through the addition of explanatory notes

Eliminate repetitions

Ensure consistency between the different parts of the document

Introduce new material to broaden the scope of the assessment into areas that were not previously covered or only partially covered. Examples of this are the inclusion of a series of items relating to global responsibility and sustainable development or the strengthening of the coverage of programme quality based on the experience of EPAS

Provide an introductory statement regarding the EQUIS approach to quality and its expectations in each of the areas covered by the ten chapters.

Tighten the link between the standards and the assessment criteria. Each chapter now begins with the EQUIS standard, or standards when there are more than one, in relation to the area covered by a particular chapter. As a result, the standards have been given much more prominence

Rationalise the order of the chapters. There are now ten rather than 11 chapters with the redistribution of the material from the previous Chapter 4 relating to the personal development of students into Chapter 2 Programmes and Chapter 3 Students. The order of these two chapters has been reversed so that students come after programmes in the analysis. Similarly, the chapter on Faculty has been placed more logically

before the one on Research. Executive Education has been moved forward in the list so that Corporate Connections and Internationalisation are situated at