Volume 06 _ Issue 02 2012

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INSIDE THIS ISSUE

www.efmd.org Volume 06 | Issue 02 2012

Needed:academicTriathletesToday business schools need multi-faceted and well-rounded faculty

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New horizons for managersCapitalism 2.0

FOR DECLARATIONOF INTEREST

[email protected] will openin early May

MORE INFORMATION

www.druckerforum.org

PETER DRUCKER SOCIETY EUROPE IN CO-OPERATION WITH THE DRUCKER INSTITUTE PRESENTS

NOVEMBER

15 – 16

THVIENNAE U R O P E

CONFERENCE VENUE

«Hall of Sciences », in the heart of Vienna

«Capitalism as a socialorder and as a creed is the

expression of the belief ineconomic progress asleading toward the freedomand equality of theindividual in the free andequal society,…»

Peter F. Drucker, The End of Economic Man

KEY TOPICS

The Capitalist Order under Siege

The role of Management in the Renewal of Capitalism

More with Less – unleashing Value Creation andInnovation for the Post-Crisis world

Innovation in Management – new ways of organizingand working

Learning from alternate models – Cooperatives,Partnerships, Hybrid enterprise models etc.

Tackling the Social Challenges of the century

Speakers include

Lynda Gratton Umair Hague Roger L. Martin John Quelch A. WooldridgeHaque

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1EFMD Global Focus | Volume 06 | Issue 02 2012

Volume 06 | Issue 02 2012

In focus

We are always pleased to hear

your thoughts on Global Focus,

and ideas on what you would

like to see in future issues.

Please address comments and

ideas to Matthew Wood at EFMD:

[email protected]

Are business schools facing a debilitating, almost existential, crisis? Possibly.Are we able to devise ways to avoid it? Probably.

These two themes dominate much of this current issue of Global Focus.

We kick off (page 16) with a cogent article by Santiago Iñiguez, dean of IE BusinessSchool in Madrid, Spain. In it he argues that we need to create a new kind ofbusiness scholar, able to compete in the “Triathlon” of research, teaching andinvolvement in the world of business.

“Management education requires a special sort of scholar, professionals who cancombine many different facets, from a solid research background to the abilityto perform effectively in class and to interface with top managers,” ProfessorInigiuez writes.

This argument is picked up and developed (page 28) by two British academics,Peter McKiernan and David Wilson, professors at respectively, the universitiesof Strathclyde and Warwick.

They suggest, looking exclusively at the situation in Britain, that external pressureson business schools are forcing them to adopt very similar business and academicmodels and strategies and that this is squeezing diversity and innovation outof the management education sector.

In a report from the “coalface” of doctoral studies in management (page 44),Wolfgang Lassl confirms some of the more depressing elements of the waywe teach future business schools academics.

According to Lassl, the majority of future professors of management (or one ofits functions) may never have been significantly exposed to their object of inquiry.He writes: “A third-year PhD student in organisational studies confided to methat she has never seen an organisation from the inside… how she will teachand understand organisations successfully will remain a mystery”.

There are, however, ways out of the morass and the various authors provide them,often recommending very similar solutions, most involving the opening up ofthe academic theory of management to wider society, particularly practising

managers themselves. As Professors McKiernan and Wilson write: “The workhas to start here and now”.

Finally, Global Focus is proud and delighted to list the winners of the 2011Outstanding Doctoral Research Awards sponsored by EFMD and EmeraldPublishing (page 6) and the winners of the 2011 EFMD Case WritingCompetition sponsored by a number of academic and other bodies (page 26).

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2 www.efmd.org/gl obalfocu s

Global Focus

The EFMD Business Magazine

Executive Editor

Matthew Wood

[email protected]

Advis ory Boa rd

Eric Cornuel, Jim Herbolich

Howard Thomas, John Peters

Consultant Editor

George Bickerstaffe

bicke rsta ffe@b tinte rnet. com

Contributing Editors

Stefano Caselli, Eric Cornuel,

Fiona Dent,Patrick Harris, Viki Holton,Santiago Iñiguez, Wolfgang Lassl,

Peter McKiernan, Rebecca Nash, Julie Perrin-Ha lot, Linds ay Ryan,

Richard Straub, David Wilson

Design & Art Direction

Jeben s D esig n

www.jebe nsde sign .co.u k

Photographs & Illustrations© Jeben s D esig n Lt d / EFMD

unless otherwise stated

Editorial & Advertising

Matthew Wood

[email protected]: +32 2 629 0810

EFMD aisbl

Rue Gachard 88 – Box 31050 Brussels, Belgium

www.efmd .org /glo balfo cus

©EFMD

Volume 06 | Issue 022012

Contents

1 In Focus

4 Obituary A tribute to Jim Herbolich

8 Lessons from China John Quelch discusses his first year as dean of CEIBS with

George Bickerstaffe and Matthew Wood

12 New Horizons Capitalism 2.0 – new horizons for managers, Richard Straub in

defence of a capitalism rejuvenated

20 Needed: academic Triathletes Santiago Iñiguez argues that what business schools need today

is multi-faceted and well-rounded faculty

26 EFMD 2011 Case Writing Competition Winners

28 Pressures to conform Peter McKiernan and David Wilson argue that business schools

should stop copying each other and start rediscovering their diversity

32 Making managers fit for the futureWe have always needed leaders able to understand what the futuremay hold. It’s just that today we need them more than ever. PatrickHarris and Rebecca Nash outline how we might produce them

36 One GIANT step to collaboration and innovation? Business schools are increasingly looking to alliances to increase

their strategic reach. Julie Perrin-Halot reports on one Frenchattempt to break down the barriers between management andhard science

40 How women can navigate to become global leaders Fiona Dent and Viki Holton detail how organisations can help

more women to become business leaders

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3EFMD Global Focus | Volume 06 | Issue 02 2012Contents

28

52

44 Wolfgang Lassl considersthe relationship between

business academia andmanagers page 44

44 Castles in the sky or more reality? Wolfgang Lassl offers some thoughts on the relationship

between business academia and managers

48 The business of business schools investigatedEric Cornuel assesses the results and implicationsof the EFMD’s first research conference

52 Milan Mumbai Fusion In July SDA Bocconi, the leading Italian business school,

will open a new school in Mumbai, India. Stefano Caselliexplains how the partnership to create the school came

about and how it is likely to develop in the future

56 High Impact: Improving the impactof corporate education programmes

Employee training and development is essential.But how can companies ensure it is effective andworthwhile? Lindsay Ryan provides some guidelines

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Jim Herbolich 1949 –2012

Jim Herbolich 1949 – 2012

Many members will now be aware that Jim Herbolich passedaway in early April. Jim had been seriously ill for some time anddied peacefully in his sleep on 8 April 2012.

It is hard to put into words just how much he will be missed bothas a colleague and friend.

Jim was a pillar of EFMD, kind to everybody, attentive, andwonderful to work with. His contribution to the developmentof EFMD over the past decade has been immense and theorganisation feels a little bit like an orphan now.

Jim was involved in the world of education – his life-long passion– for nearly 40 years. He was a scholar of management, both asa teacher and as a researcher and was a faculty member of theHuman Resources Management Department of ESADE businessschool in Barcelona, Spain.

He was also a formidable practising manager and administratorhimself, with particular skills in man-management and motivation.

Jim was American-born though he spent most his life outsidethat country and was Director of Network Services at EFMD for11 years where he held overall charge of Membership, BusinessSchool Services, Corporate Services, and Research and Surveys.As such, his old-world charm, politeness and universal friendlinesspervaded the whole EFMD organisation, laying the foundationsfor the relaxed professionalism that it exhibits today.

To EFMD staff and to the many members who knew him well, Jimmeant friendship, kindness, openness, guidance and advice – andgreat company. For me he was a kindred spirit, a loyal and dearfriend who had a profound influence on my life and I will miss himgreatly. In fact everyone who had the pleasure of knowing him will

miss him greatly but his legacy will live on through the work ofEFMD in the future. I also know that Jim would not want us to besad, rather he would want us to celebrate his wonderful life andmany achievements. At the moment this is very hard on all of usbut with time I am sure we will be able to look back with a smileon our faces at a truly remarkable man.

Goodbye my friend – I will never forget you.

Eric Cornuel

Jim Herbolich

EFMDDirector, Network Services

Jim was a pillar of EFMD,kind to everybody, attentive,and wonderful to work

with – his contribution to

the development of EFMDover the past decade hasbeen immense

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5EFMD Global Focus | Volume 06 | Issue 02 2012 Jim Herbo lich 1949 –2 012

To EFMD staff and tothe many members whoknew him well, Jim meant

friendship, kindness,openness, guidance andadvice – and great company

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Winners of the 2011

Outstanding DoctoralResearch Awards

> Congratulations to the winnersof the 2011 Outstanding Doctoral

Research Awards!

We received so many high quality submissionsagain this year that a number of highlycommended awards were bestowed. You can view details of all winners at the link below:

http://www.emeraldinsight.com/research/awards/odra.htm

INTERDISCIPLINARY

ACCOUNTING RESEARCH

WINNER

Professor Paul Gillis

Peking University, China

The Big Four in China: Hegemony

and Counter-hegemony in the Development of the Accounting Profession in China

CATEGORY SPONSORED BY

ACCOUNTING, AUDITING &

ACCOUNTABILITY JOURNAL

MARKETING RESEARCH

WINNER

Dr Christian Schlereth

Goethe University Frankfurt,Germany

Optimal Pricing of Internetbased Services


EUROPEAN JOURNAL

OF MARKETING

HOSPITALITY

MANAGEMENT

WINNER

Dr Richard N.S. Robinson

The University of Queensland,

Australia “Investigating Creativity as an Alternative Explicator of the Mobility of Chefs”


INTERNATIONAL JOURNAL OF

CONTEMPORARY HOSPITALITY

MANAGEMENT

OPERATIONS

AND PRODUCTION

MANAGEMENT

WINNER

Dr Lisa Brodie

University of the West ofEngland, England

The Nature of Complex Manufacturing System Innovation: The Inventionand Adoption of New Forms of Aircraft Wing Manufacture


INTERNATIONAL JOURNAL OF

OPERATIONS & PRODUCTION

MANAGEMENT

LOGISTICS AND SUPPLY

CHAIN MANAGEMENT

WINNER

Dr Alexander Trautrims

University of Hull, UnitedKingdom

Management of In-Store Replenishment Systems: An exploratory study of European retailers


INTERNATIONAL JOURNAL

OF PHYSICAL DISTRIBUTION

& LOGISTICS MANAGEMENT

INFORMATION SCIENCE

WINNER

Dr Yuxian Liu

Tongji University, China

The diffusion of scientific ideasin time and indicators for thedescription of this process


JOURNAL OF DOCUMENTATION

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The 2012 Outstanding DoctoralResearch Awards is now open forsubmissions. Those who have completeda PhD between 1st October 2009 and1st October 2012 are eligible to apply.

Full details of submission requirements and judging criteriacan be viewed online at: http://www.emeraldinsight.com/research/awards/odra.htm

If you have any questions or you would like some posters orleaflets for your institution simply email Emma Stevensonat [email protected].

The 2012 categories are:

Educational leadership and strategy SPONSORED BY JOURNAL OF EDUCATIONAL ADMINISTRATION

Hospitality managementSPONSORED BY INTERNATIONAL JOURNAL OF CONTEMPORARY

HOSPITALITY MANAGEMENT

Human resource managementSPONSORED BY PERSONNEL REVIEW

Information scienceSPONSORED BY JOURNAL OF DOCUMENTATION

Interdisciplinary accounting researchSPONSORED BY ACCOUNTING, AUDITING & ACCOUNTABILITY JOURNAL

Knowledge managementSPONSORED BY JOURNAL OF KNOWLEDGE MANAGEMENT

Leadership and organisation developmentSPONSORED BY LEADERSHIP & ORGANIZATION DEVELOPMENT JOURNAL

Logistics and supply chain management

SPONSORED BY INTERNATIONAL JOURNAL OF PHYSICALDISTRIBUTION & LOGISTICS MANAGEMENT

Management and governanceSPONSORED BY MANAGEMENT DECISION

Marketing researchSPONSORED BY EUROPEAN JOURNAL OF MARKETING

Operations and production managementSPONSORED BY INTERNATIONAL JOURNAL OF OPERATIONS

& PRODUCTION MANAGEMENT

Healthcare ManagementSPONSORED BY JOURNAL OF HEALTHCARE ORGANIZATION

AND MANAGEMENT

>2012 Submissions

EDUCATION ANDLEADERSHIP STRATEGY

WINNER

Dr Rachel McNaeUniversity of Waikato, Facultyof Education, New Zealand

Young women and leadershipdevelopment: Co-constructingleadership learning in a New

Zeala nd second ary school


JOURNAL OF EDUCATIONAL

ADMINISTRATION

KNOWLEDGEMANAGEMENT

WINNER

Dr Nam Hai Nguyen

Griffith University, Australia The Impact of Leadership

Behaviou rs and O rganisationa lCulture on Knowledge Management

Practices in Sma ll and Med ium Enterprise s


JOURNAL OF KNOWLEDGE

MANAGEMENT

MANAGEMENT& GOVERNANCE

WINNER Dr Claudia Alvarez Autonomous Universityof Barcelona, Spain

Institutions And En trepreneur ial Activity: A Quanti tative Analysis


MANAGEMENT DECISION

HUMAN RESOURCEMANAGEMENT

WINNER

Dr David Cegarra Leiva,Universidad Politécnica deCartagena, Spain

The Role Of The Founder In SMEs In The Impl ementati on of a Work Life Bala nce (Wlb ) Culture. E ffectsOn Organizational Results and theUse of Practices by the Employees


PERSONNEL REVIEW

LEADERSHIP ANDORGANISATIONDEVELOPMENT

JOINT WINNER

Dr Dong LiuGeorgia Institute of Technology,USA

A Follower in Nee d is a Follower Indeed: Explorin g the Joint Effe cts ofTMT Support, Contextual Shocks,and Individual Regulatory Focus on

Foreign CEO Self-e fficacy a nd NewVenture Performance

JOINT WINNER

Dr Martin AmsteusLinnaeus University, Sweden

Manageri al Foresight and Firm Performance Manageme nt


LEADERSHIP & ORGANIZATION

DEVELOPMENT JOURNAL

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In February 2012 John Quelch completed his firstyear as Dean of the China Europe InternationalBusiness School (CEIBS) in Shanghai, China. It wasa busy 12 months. Dean Quelch, one of the world’s

leading marketing gurus, a long-term senior memberof the Harvard Business School faculty and former deanof London Business School, is presiding over a period ofaggressive growth at CEIBS.

This will include doubling the size of the Shanghai campus,co-developing new facilities in Accra, Ghana, for theCEIBS Africa Programme and increasing capacity use in

Beijing, where a new campus opened in 2010 andShenzhen.

Other initiatives to raise the profile of CEIBS internationallyhave included the launch of a new Finance MBA programme,a co-ordinated PhD with IESE business school in Spain (tobegin this year) and the opening of two new research centres– the Centre on China Innovation and the Centre forEntrepreneurship & Investment.

As the following interview makes clear, strengthening anddeepening the full-time faculty has been a key goal. CEIBShas hired some top names including Professor George Yip,former Dean of Rotterdam School of Management andone-time colleague of Dean Quelch at LBS, and ProfessorBruce McKern, former Stanford Sloan Master's ProgramDirector at Stanford Business School.

Some of the recruitment tactics have the hallmark touchof Quelch’s approach to marketing.

They include an advertisement last year in The Economistwith the tag line “New dean needs 30 expert faculty now!”

In fact, says Quelch, total net recruitment this year willprobably be closer to 10. “But we never said 30 in one year,”he says. “And the main aim was to create a buzz. Buildingawareness is very important – we’re not that well known.”

That is one reason why CEIBS, a major sponsor of lastyear’s Academy of Management meeting, a prestigiousbun fight for business school folk, put its slogan, "ChinaDepth, Global Breadth" on every room key card for the8,000-plus delegates.

It also had executive search firm Saxton Bampfylde call150 European faculty to uncover individuals who might beinterested in joining CEIBS.

Expect more of the same or similar in the year ahead.

John Quelch discusses his first year asdean of CEIBS with George Bickerstaffeand Matthew Wood

25Professor Quelch has authored or

co-authored more than 25 books

on marketing and related topics

His latest book:

All Bu sine ss is Local : Why Place

Matte rs Mo re t han E ver i n a

Global, Virtual World

with Katherine Jocz

Published by Portfolio Penguin

February 2012

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9EFMD Global Focus | Volume 06 | Issue 02 2012Lessons from China: John Quelch interview by George Bickerstaffe and Matthew Wood

Lessons

from ChinaThe key is faculty – you can have terrific physical facilities but ultimately they will be instruments without music – you have to have the faculty tomake the facilities sing

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You have been at CEIBS for just over a

year. What has been the biggest challenge?

The principal limitation on CEIBS is thesize of the full-time faculty. HarvardBusiness Schoo has 220 faculty and

graduates 900 students a year. Wegraduate 1,000 a year with 65 full-timefaculty. So it doesn’t take a rocketscientist to realise that our facultyis seriously stretched.

So building to 100 faculty is veryimportant for us. Otherwise weare limited in our ability to serveour customers and take advantageof the many opportunities we have.

And we have to be in the idea-

generation business and increase ourresearch output. We have to give ourcurrent faculty more time and spacein which to do research and obviouslyhiring more full-time faculty is partand parcel of achieving that.

That’s part of your being a committed

supporter of the concept that good

faculty attract good students, who

become supportive alumni and so on?

Very much so. To my mind, once you

get that wheel spinning then everythingstarts to happen. Everything is self-reinforcing and it really is a virtuouscircle.

But the key is faculty. You can haveterrific physical facilities but ultimatelythey will be instruments without music– you have to have the faculty to makethe facilities sing.

There are many beautiful businessschools in the world but some of them

have no stature whatsoever as sourcesof intellectual capital. So it’s absolutelyessential that, as a dean, you focus youreffort on faculty first.

Being in China we benefit from a keeninterest among many business schoolfaculty to come to China. So we areblessed with a large pool of visitingfaculty who come regularly to teachelective courses.

However, you cannot build an institutionon visiting faculty. It’s like saying to theCEO of a major company that, of his orher top 100 executives, half are onlygoing to show up for a couple of weeksa year and the other half will be therefull-time. It’s preposterous. So wehave made some very significantmoves over this past year to try toboost the full-time faculty.

Your first year at CEIBS saw some

quite aggressive expansion. Aren’t

you concerned about the global

downturn’s effect on resources?

Resources are always a challenge but

they are not a major problem [at CEIBS].

In China we are talking about a pent-updemand for quality managementeducation that we can’t even scratch thesurface of. Demand is very robust andthat helps our pricing.

Regarding the full-time MBAprogramme, in which students andfaculty are 50% Chinese and 50%non-Chinese, students in the West arelooking at the downturn and wanting to

ride it out by doing an MBA degree. Butthey are thinking, “why shouldn’t I doit China, that’s where the future is?"

Also, more and more Westerncompanies are moving their Asianheadquarters from places likeSingapore and Hong Kong toShanghai, which is increasing theapplicant pool of Western studentsfor CEIBS’s Global Executive MBA.

Regarding executive education, we wereup 25% in revenues in company–specificprogrammes last year and I expectto match that again this year. Weare already the biggest supplier byrevenue of executive education of anybusiness school in Asia.

In China we are talking abouta pent-up demand for qualitymanagement education that wecan’t even scratch the surface of

1kCurrently CEIBS graduate 1,000 a year with 65

full-time faculty but are looking to increase that

to a faculty of 100

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11EFMD Global Focus | Volume 06 | Issue 02 2012Lessons from China: John Quelch interview by George Bickerstaffe and Matthew Wood

What is your aim – for CEIBS to be a

global school in China or just a leading

Chinese school?

Both. Our motto is “China DepthGlobal Breadth” – something that we

came up with within a few weeks ofmy arriving at CEIBS to replace thesimilar but perhaps less pleasing tothe ear “China-rooted Global Impact”.

Normally, slogan or logo change getseveryone uptight. CEIBS accepted thenew slogan because it was closeenough to what they already had, wassmoother sounding and also worksterribly well in Chinese; it has thesame kind of resonance and rhythm.

What we argue is that no globalbusiness schools can match us onChina depth and no Chinese businessschool can match us on global breadth.

This positioning also leverages the joint-venture structure of the school,which has a balanced governance,which is 50% Chinese and 50%European; our MBA students are 50%Chinese; our faculty is 50% Chinese;our executive education is probablyaround 50% Chinese companies and

50% non-Chinese.It reminds me very much of whatI learned at WPP [an internationalmarketing services agency]. If you lookat international advertising agencies,the best performing subsidiaries arethe ones that have 50% local businessand 50% global business.

Why? International clients valuethe agency because they know localcustomers through their local clients.Local clients value the agencybecause they know best practicesworldwide through their work forinternational clients. That’s thesame kind of philosophy we have.

That links back to what you say in your

latest book – that the world isn’t flat.

The world is flatter than it was but itis definitely not flat.

I wanted to reassert the primacyof local versus global – because90% of all exchanges that take placebetween buyers and sellers everyday are distinctly local, with littleor no international aspect.

In addition, I find that in discussionsabout marketing the emphasis is alwayson brand-building, advertising and newproduct development with very sparsecoverage of place or distribution, whichalways appears as the fourth P [in the

Four Ps marketing mix model: Product,Promotion, Price and Place]. You neversee Place any higher. But if you’reworking in China or India then Placeis of paramount importance.

In China, to achieve national coverage,Coca–Cola has to reach two to threemillion individual points of distribution.How do you do that? Putting a nationaladvertising campaign on CCTV is not theproblem. The principal challenge ishow do you organise the sales force,

the boots on the ground and orderlydistribution with no stock-outs acrossthat number of distribution points?

All of our economic hopes are nowplaced on emerging economies. Almostall of these economies have fragmenteddistribution systems. So how do youachieve increased market share andincreased growth? You have to havesales and distribution capabilities;the brand building and the advertisingis comparatively easy.

You talked recently about the way

business regards business schools and

management education. What is that

like in China?

Chinese businesses are very positive

about management education. Theyknow they need management talentand leadership capacity to handle andsustain the rate of growth.

There is admiration for American highereducation and there is an assumptionthat Harvard and Stanford and the otherleading American schools have over thepast 100 years contributed greatly toAmerican economic performance.

China is a very competitive society and

credentials and qualifications areimportant.

But is China still a risk-averse

country with no great commitment

to innovation?

There is still a lot of risk aversion inChina but it is most evident amongpeople who are over 40 years old –people who as children might have beenre-located with their parents, who mighthave experienced 1989 in a way thattaught them not to step out of line.

I find younger people are much moreopen and adventurous – 500 millionpeople on the internet each day whocannot be put back in the bottle.

Many Chinese ask “Can Chinainnovate?” I have no doubt that whenthey are no longer to able to makemoney by imitating, they will turn tomaking money by innovating.

There is a certain amount of wishfulthinking about the supposed inabilityof China to innovate that, if we are notcareful, could come back to haunt us.

Many Chinese ask ‘Can China innovate?’I have no doubt that when they are no longerto able to make money by imitating, they

will turn to making money by innovating

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Capitalism 2.0 – new horizons for managersRichard Straub in defence of a capitalism rejuvenated

We are confronted with a fundamental question:are the financial meltdown and the debt crisisdirect and necessary consequences of capitalism?

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13EFMD Global Focus | Volume 06 | Issue 02 2012Capitalism 2.0 – new horizons for managers by Richard Straub

Capitalism under siege

Capitalism – and, with it, business leaders and

managers – are under siege today. Populistmovements on both the left and the right areoffering up a slew of reactionary ideas, essentiallycalling for a return to a closed world. Meanwhile,businesses have lost much of their credibility withthe public, as demonstrated by the recent EdelmanTrust Barometer. Indeed, only governmentinstitutions have suffered a bigger drop in approvalthan businesses.

However, rather than be defensive and turninward, managers must play a key role perhapsthe key role – in the transformation towards a newcapitalism.

We are now confronted with a fundamentalquestion: are the financial meltdown and thedebt crisis direct and necessary consequencesof capitalism? Or have these things occurreddue to abuses by a small minority of players– and in spite of a hugely efficient economicsystem that the vast majority of participantshave used for positive ends?

T he world has been shattered by aseries of crises since the collapseof Lehman Brothers in 2008: thenear shattering of the world financial

system followed by a severe economic downturnacross the advanced economies and the surfacingof a sovereign-debt disaster that has been buildingup during the past 30 years.

While the unethical behaviours and self-servingstrategies of key players in the financial sectorhave become quite evident because of the mess,the issue has not stopped there. Many have begunto question the underlying values of the capitalistsystem as a whole.

The idea of “maximising shareholder value” withits obsessive focus on short-term results and purefinancial measurements has been called intoquestion in many quarters. Others have focusedon what they perceive as a lack of ethical standardsand values in business and a disregard for thecommon good.

Given the immense damage that the recent criseshave inflicted on the world and its population, a

robust discussion about the future of capitalismis appropriate. However, how that discussion isframed is crucial: should capitalism be tossed asidecompletely in favour of some other economic modelor is there a way to improve the system and makecapitalism work better in a new global context?

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A remarkable performance

The positives are certainly undeniable.Since 1950, according to the GroningenGrowth and Development Centre, the

world has enjoyed a five-fold increasein GDP per capita, even as worldpopulation has soared from 2.5 billionto 7 billion today. Growth and prosperityhave not been uniform across theglobe during that span but now eventhe poorest regions are catching up– and fast.

Many believe that Africa is poisedfor strong development over the nextdecade. Many economies throughoutLatin America are already expanding

rapidly. Most of Asia has been on a pathof increasing wealth for some time. Inshort, wherever governments have beenable to ensure a degree of stability andsecurity, global corporations and localentrepreneurs have created theconditions for economic development,growth and jobs.

All the while, a steady stream ofinnovations in agriculture, medicine,chemistry, information technologyand transportation have emerged

from these businesses – not, for themost part, from governments that, atbest, have created positive conditionsfor private enterprise to operate.

This, of course, is what capitalism isall about. And there is not the slightestshadow of evidence that any otherknown or conceived economic systemwould have achieved this mind-bogglingperformance in value creation andinnovation in such a short timeframe.

Legitimacy lost

Why then is the image of businessand managers so negative? Whyare business leaders not seen as the

true heroes of the post-war period?The answer is clear: leaders –especially those in large corporationsand the financial sector – havesquandered the chance to be celebratedbecause of their arrogance,complacency and isolation from thecommunities that lie beyond their walls.

The push to “maximise shareholdervalue” started with a legitimate idea:the concept of “agency theory” as firstarticulated in the mid-1970s by Michael

Jensen and William Meckling. But sincethen the pendulum has swung too far,pushing far too many executives to puta premium on short-term results overthe long-term health of the enterprise.

Mounting pressure to “make thenumbers” expected by Wall Streethas led many corporations to engagein predatory behaviour, aggressive HRpractices with knee-jerk restructuringsand massive “downsizings” wheneverclouds appear on the horizon andobscene remuneration policies amonga self-serving cadre of managementelites.

Roger L Martin, dean of the Universityof Toronto’s Rotman School ofManagement, has demonstrated howthis shareholder-is-king mindset hasdiverted corporations from having aproper customer focus. All of theseodious trends were apparent evenbefore the financial crisis struck. CSR

programmes have not helped, either.Many of these initiatives were basedon a philosophy of business apologisingfor its success by “giving back” tosociety. Or worse, to divert attentionfrom socially harmful practices.

PHOTOGRAPHCOURTESYOFTHINKERS50

x 5The world has seen a five-foldincreasein GDP per capita, even

as world population has soared

from 2.5 billion to 7 billion today,

and although not uniformacross

the globe even the pootrest regions

are starting to catch up

There is not the slightest shadow of evidencethat any other known or conceived economicsystem would have achieved the mind-boggling performance in value creation and innovation

in such a short timeframe

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A critical turning point

The upshot is that despite theundeniable progress that capitalismhas brought over the last 70 years,

we find ourselves at a crossroads,a painful moment of truth. We needto reform capitalism as it is currentlypractised lest we see increasingcalls to dismantle the systementirely.

The stakes are enormous. In theaftermath of the recent crises, weare confronted with an avalancheof challenges – a world populationgrowing toward 9 billion by 2050;a fragile global financial system;

an unresolved sovereign debt crisis,especially in Europe, exacerbated bya system of social protection thathas become unsustainable due to thepressures of an aging population; andshortages of energy, food and watersupplies in major parts of the world.

Yet, the biggest global dream at themoment is a “good” job as Jim Clifton,

CEO of Gallup,pointed out ata recent

entrepreneurshipconference. Givena deficit of 1.5billion “good

jobs” worldwidewe can appreciatethe magnitudeof fulfilling thataspiration…

Each of these socialchallenges can beaddressed only with

an unprecedentedstream of innovations at all levels– products and services, businessmodels and the practice ofmanagement itself.

Hence, the big question: can a betterand stronger form of capitalism berealised? Can Capitalism 2.0 provideus with the means to create theeconomic foundation for a liveableworld for all? And what would itsunderlying management model

and management philosophy be?

The big levers for change

There is clear evidence thatManagement 1.0 with its pedigree in theindustrial age will not be adequate to

achieve the transformation. Hence theunderlying model for Capitalism 2.0 hasto be Management 2.0, based on theprinciples and values outlined below.

Which will be the key levers forchange as we move toward a new andmore effective form of capitalism andmanagement?

First, myriad studies show that thereis a huge pool of unused or underusedhuman capacity in today’sorganisations. Yet most companies do

not organise work in a way that canunleash this latent energy. We neednew ways of thinking. Lynda Gratton hasdemonstrated this in her research on“hotspots” and, more recently, in herbook The Shift: The Future of Work is

Already Here.

In the same vein, the late PeterDrucker challenged 21st-centurymanagers to increase knowledge-work productivity to the same extentthat their forebears increased theproductivity of manual labour.Empowerment, autonomy and trustare essential ingredients to makeknowledge work more productive– and to accelerate innovation.

Second, the entrepreneurial spiritneeds to be awakened and fosteredon a broad basis, within organisationsand in our societies at large.Individuals must take their lives andtheir destinies into their own hands.

And nation states have to createfavourable conditions such as earlyeducation, tax incentives and theelimination of administrative hurdles.

Drucker called for us to create “theentrepreneurial society” some 30years ago. Are we finally gettingthere? Sara Horowitz, the executivedirector of the Freelancers Union,notes that 30% of the Americanworkforce is now employed asindependent contractors. She calls

this a “third industrial revolution.”

Capitalism 2.0 – new horizons for managers by Richard Straub

Clockwise from left:

Roger MartinGary HamelPeter DruckerLinda Gratton

PHOTOGRAPHCOURTESYOFTHINKERS50

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Entrepreneurialism is not confinedto start-ups and new ventures. It isa key capability for all organisations,new or old, big or small. Along withentrepreneurship goes innovation. Openinnovation, design thinking and frugalinnovation are promising approachesto embed creative power at all levelsof an organisation.

Next, a shift in values needs to takehold. Specifically, our leaders need tomove from taking purely competitivestances to embracing collaboration.While competition is a major driver ofefficiency in market-based economies,the potential for collaboration and

mutual support in addressing keychallenges is a way to increase the pieas opposed to competing for eachlittle part of it.

A new sense of responsibility needs tobe instilled on a global basis. While thechallenges ahead are daunting, theyhave the potential to create meaningfor all those engaging in economic andsocial activity. Establishing meaningand purpose needs to re-emerge asone of the foremost responsibilities of

leadership. Simultaneously creatingsocial and economic value shouldbecome the new standard forbusinesses around the globe.

Finally, the state must redefine itselfin a fundamental way. In the Westernworld, government has evolved intoa Leviathan suffocating initiative andsiphoning too much financial capitalfrom productive use. Even though manypoliticians are quick to point fingers atthe bankers for the financial crisis, they

clearly deserve some of the blamethemselves for their lax oversight andthe way that they have bought offvoters with ever-increasing promisesfrom election to election.

Translating all of this into action willbe a tall order. There is, however,no choice. Achieving “betterness”in capitalism and management, asconsultant Umair Haque calls it, isthe ultimate test for human ingenuityand creativity.

Learning from alternative models

The good thing is that there are alreadymany good alternative models to learnfrom and build upon. Largely unnoticed,numerous companies from the GermanMittelstand (basically the SME sector)have survived and thrived for more than100 years. And by achieving marketleadership, they have created valueand generated jobs around the world.

When it comes to solidarity and mutualsupport, co-operatives also boast aunique track record. Today more than 1billion people are part of co-operatives,and the livelihoods of almost half of theworld’s population are supported by

such enterprises, according to theInternational Co-operative Alliance.

These organisations – includingthe Raiffeisen Banks and the Bank-Genossenschaften in Germany, Austria,Switzerland and the Netherlands –have not only made a mark with theircontributions to the community theyhave also proven an ability to withstandcrises in competitive markets betterthan many of their traditional capitalistcounterparts.

These largely unnoticed organisationsdeserve special consideration during2012, a year that the United Nations hasdesignated as the International Yearof Co-operatives. Are there not lessonsto be learned from the success of thismodel for Capitalism 2.0 andManagement 2.0?

For-profit businesses have developedalternative models, as well. Thereare, for example, more than 11,000

companies in America that are ownedentirely or in significant part by theiremployees, some 13.6 million of themin total.

WL Gore, maker of Gore-Tex fabricand many other products, is a leadingexample. The company has some9,000 employee-owners at 45 locationsworldwide and generates annual salesof $2.5 billion.

Graybar, a Fortune 500 company,also has a long history of being fullyemployee-owned. Originally establishedin 1925 as part of Western Electric, itwas purchased by the employees in1929 for $9 million. Today the $5 billioncompany is one of North America’slargest employee-owned concerns,with 250 distribution centres throughoutAmerica, Canada, Mexico and PuertoRico.

Partnerships also provide interestingclues about how to move forward.Mazars, which grew from a 50-personcompany after the second worldwar into a 13,000-employee global

organisation, is an example ofhow value can be created usingfundamentally different governanceand management models based ondemocratic and co-operative principles.

Even though hierarchy is an inherentelement at most companies, self-managed organisations offer yetanother structure to consider.

Gary Hamel, for example, has writtenabout Morning Star, a California-basedtomato processing company withrevenues of $700 million and morethan 400 employees. What makes thecompany so remarkable is that it hasno bosses, titles or promotions. Whilethe Morning Star model may not beuniversally applicable, it contains seedsthat can be widely applied, especiallywhen it comes to building a trust-basedorganisation with a truly empoweredworkforce.

Citizen Sector Organisations (CSOs),

which include nonprofits and non-governmental organisations, also havemuch to teach the capitalist world.Drucker had a significant influenceon the development of this sectorwith his book Managing the NonprofitOrganization.

Since the 1980s, the Citizen Sectorhas created jobs about three times asfast as other employers in the OECD.In Brazil, the number of CSOs has risenfrom about 36,000 to nearly 1 million

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over the past 20 years. Today, millions ofthese groups across the globe attracttalented individuals who long forchallenging and fulfilling work thatis consistent with their personalvalues and goals. New hybrid valuechains between CSOs and for-profitenterprises show that there areunconventional routes to address theimmense social issues of today’s world.

On a more fundamental level, thereis a broader challenge to the Westerncapitalist model in the form of statecapitalism as exercised in countriesas different as China and Brazil. AsThe Economist outlined in its special

report on the subject, this new modelbears little resemblance to thedisastrous spate of nationalisations inBritain and elsewhere half a centuryago. China’s infrastructure companieswin contracts the world over.

The best national champions areoutward-looking, acquiring skillsby listing on foreign exchanges andtaking over foreign companies. Andgovernments are selective in theircorporate holdings. Any meaningful

discussion of Capitalism 2.0 needsto include an assessment of thisphenomenon.

Bringing it all together

What we have here is a complexpuzzle. Though a number of pieces arealready in place, many more will have

to be added during the coming years.Creating a new version of capitalismwill require a concerted effort betweenall stakeholders and a great sense ofurgency and responsibility.

The internet and social media canhelp. These tools provide all of uswith a chance to share experiences,co-create ideas, learn collaborativelyand innovate – and all much fasterthan in the past.

But in the end, it will be people, not

technology, that make Capitalism 2.0a reality. A new generation driven bypassion, purpose and strong valuesis poised to engage for the greatergood. Yet, managers, in particularmust lead the way, moving beyond“business as usual” and “business asbystanders” toward the innovator andactivist roles described by Joseph LBower, Herman B Leonard and LynnS Pain in their 2011 Harvard BusinessReview article “Global Capitalism at

Risk: What Are You Doing About It?”It is a fitting question on which to end:

What, in fact, are you doing about it? Andwhat are you going to do tomorrow?

Capitalism 2.0 – new horizons for managers by Richard Straub

1bnToday more than 1 billion people

are part of co-operatives, and the

livelihoods of almost half of the

world’s population are supported

by such enterprises, according to the

International Co-operative Alliance

On a more fundamental level, there is a broaderchallenge to the Western capitalist model in the

form of state capitalism as exercised in countriesas different as China and Brazil

MORE INFORMATION

Capitalism 2.0 – New Horizons for Managers will be the central theme of the 4th Global PeterDrucker Forum in Vienna on 15-16 November 2012

ABOUT THE AUTHOR

Dr Richard Straub is Director of C orporate Servicesand EU Affairs at EFMD and President of the PeterDrucker Society Europe

7/21/2019 Volume 06 _ Issue 02 2012



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Santiago Iñiguez argues that what business schoolsneed today is multi-faceted and well-rounded faculty

Needed:

academicTriathletes

Today’s academics might usefullybe compared to the classical athletes,insomuch as they must show excellencein a number of fields – research, teaching

and involvement in the world of business

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21EFMD Global Focus | Volume 06 | Issue 02 2012Needed: academic Triathletes by Santiago Iñiguez

W hen the Olympic Games werefounded in Ancient Greecesometime during the eighthcentury BC, the king of sports was

the Pentathlon. As its name suggests, competitorswere required to show supreme skill in five areas:the long jump; javelin; discus throwing; the stadion (or 180-meter race); and wrestling.

Nobody is sure how the winner of the Pentathlonwas established, perhaps by winning three eventsand doing well in two others. Whatever the

method, whenever the Olympics came along,the winners of the Pentathlon were the newheroes. Aristotle, in his Rhetoric, tells us that theparticipants in this sport were the most completeathletes and were honoured with medals andcommemorative urns.

When it was decided to revive the Olympic Gamesat the end of the 19th century, other combinedsports were devised, aimed at measuring theoverall athletic ability of participants and favouringin many ways the traditional amateur spirit of theGames. Contestants were not professional athletes

nor were they usually specialists in a particularsport. Some of these multi-events have survivedto this day, notably the Triathlon, made up ofswimming, cycling, and running.

Translated to the world of business education,today’s academics might usefully be comparedto the classical athletes, insomuch as theymust show excellence in a number of fields. Theacademic race is essentially a Triathlon, made upof three main activities: research, teaching andinvolvement in the world of business – sometimesthrough consulting or by holding a management or

board post.

However, success as an academic has traditionallybeen tantamount to excellence in research, period.Universities have conventionally selected,promoted, tenured and rewarded scholarswho comply with certain requirements relatedto research activity and output.

Other facets of academic life such as teaching, thespreading of knowledge or interacting with theworld outside universities have been consideredas secondary activities for an academic career,

sometimes even as “improper”.

5 When the Olympic G ames were

founded the king of sports was

the Pentathlon. Competitors were

required to show supreme skill

in five areas:

THE LONG JUMP

JAVELIN

DISCUS THROWING

THE STADION

WRESTLING

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Nobody could reasonably deny the central valuethat research should play in scholarly careers.It is probably the core activity of the AcademicTriathlon since it tests the capacity of theindividual to assimilate existing knowledge and togenerate new ideas, concepts and models, and atthe same time respecting methodological rigor.

However, considering research as an end in itselfor the only pure academic activity entails a myopicand incomplete version of the academic vocation.

Revealingly, an article in the New York Times described how a Harvard team formed by nineprominent professors of the university andsupported by its former President, Derek Bok,was leading an effort to foster the cultureof undergraduate teaching and learning.

“The group has issued a report calling forsweeping institutional change, including continuingevaluation and assessment of teaching and

learning, and a proposal that teaching be weighedequally with contributions to research in annualsalary adjustments.” (S Rimer, ‘Harvard TaskForce Calls for New Focus on Teaching and NotJust Research’, The New York Times, May 10, 2007.

The need to complement research with teachingand practical work is particularly relevant forbusiness school academics.

Management education requires a special sortof scholar, professionals who can combine manydifferent facets, from a solid research background

to the ability to perform effectively in class andto interface with top managers.

I have often said that business schools need notonly “Gurus” – wise sages who originate newthought but also “Kangurus” – academics ableto jump from their research tasks to teachingand from there to consultancy or an interviewwith a journalist.

Kangurus of this type are not born but trainedand it normally requires a wide career span toexploit the necessary synergies between thosedifferent, apparently contradictory but actuallyintertwined activities.

One of the main missions of business schoolsis to build bridges between academia andcompanies, between the world of thinking andresearch and the practical world of business.

Academic research makes a vital contributionto our body of knowledge on management.Research methodologies bring the rigor andobjectivity required for a clear analysis of reality

and allow us to come up with solutions basedon comparative studies.

In fact, I believe that much of the blame for therecent financial crisis could be attributed tomodels and ideas from institutions that lackedthe rigor that is a feature of academic research.

The reputation of a business school is directlyrelated to the research and knowledge thatit produces. From my experience with ourstakeholders, and particularly with corporateuniversities, a key criterion in choosing a

school to provide customised programmesis its capacity for generating new knowledge.

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23EFMD Global Focus | Volume 06 | Issue 02 2012Needed: academic Triathletes by Santiago Iñiguez

The head of a corporate university told me recentlythat companies are attracted mainly by businessschools associated with new ideas and innovation.

To make business schools’ research morerelevant, I believe that it is necessary to come up

with constructive proposals that will strengthenthe ties between the academic and businessworlds.

In line with the arguments of Costas Markides,a professor at London Business School, whocalls for “ambidextrous professors”, I think thatit is a mistake to underestimate both the valueof academic research or of integrative analysis.To do so will lead to the disappearance of a highlyvaluable and essential approach that has providedrigor to the management knowledge base we

currently draw on.I also agree with Professor Markides that it is amistake to foster the separation between researchacademics and practitioners. (See his article “InSearch of Ambidextrous Professors”, Academy ofManagement Journal Vol. 50, No. 4 (2007), 762-768.)

His proposals to encourage younger scholars topublish not just in academic journals but also inprofessional publications are the way forward.

In this way we will see the transfer of researchinto teaching as well as encouraging co-operation

between businesses and consultancies to identifynew ideas and models for research.

In his book (Thought Leadership Meets Business:How Business Schools Can Become More Succesful (Cambridge: Cambridge University Press, 2008,p. 182), Peter Lorange also highlighted the needfor business schools to adopt an “interactive,two-way approach, where propositionalknowledge meets prescriptive knowledge”.This mutually beneficial virtuous cycle can beseen in executive education or MBA programmeswhere participants have considerable experience,giving teachers the opportunity to benefit from

feedback by professionals attending their classes.Despite constant criticism to the opposite,business schools are in reality proactive whenit comes to developing the mechanisms neededto change the systems that generate anddistribute knowledge.

This is shown by a concern for strengtheningthe clinical relevance of research, reflected inthe significant number of articles on the subjectpublished in recent years by the Academy ofManagement, the most influential forum ona global level for academic research intomanagement.

To return to the analogy with Ancient Greece,below are some further proposals that mightcontribute to strengthening the links betweenAcademia and the Agora (the market).

Redesign PhD management programmes sothat participants, aside from developing theskills of sound researchers, are also giventhe opportunity to practise the complementaryfacets that will allow them to teach effectivelyand also to take advantage of teaching to

disseminate the results of their own research.

What’s more, doctoral programmes should alsofacilitate contact between students and businessleaders to give them first-hand experience of thereal problems of management. This could alsobe achieved through internships.

Adapt tenure systems to take into account notonly candidates’ published academic output butalso their teaching skills. Furthermore, it wouldbe advisable to introduce procedures to evaluateto what extent teachers maintain links with the

world of business, either through membershipof boards or consulting work. Obviously, overall

I believe that much of the blame for the recent financial crisis could be attributed to modelsand ideas from institutions that lacked therigor that is a feature of academic research

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evaluation will still emphasise research output; thechallenge is to find a balance that will allow teachersto incorporate these proposals over time. Once again,the Triathlon analogy comes to mind.

The proposals mentioned above would probably requireevaluation periods of at least one year to providesufficient perspective on the results and impact in

each of the areas.Work with business leaders to identify the key issuesaffecting the business world. A growing number ofbusiness schools have already set up interdisciplinarycentres aimed at going beyond the remit of traditionalacademic departments by setting up direct links withcompanies to develop specific projects. These centresnot only encourage interdisciplinary research but alsodevelop training programmes that address specificissues relating to business management.

At the same time, it is important that business schools’boards and advisory councils understand the strengthsand weaknesses of their respective institutions. These

councils are generally made up of business peopleor alumni who can provide invaluable feedback onwhat the real world’s knowledge needs are.

Encourage ties between research-oriented teachersand practitioners. So far, this kind of co-operation hasusually been restricted to developing teaching materialfor programmes. But it can be extended to other areas.Responsibility for bringing together the two should bea key objective of department heads, who can advance

joint research initiatives.

Develop procedures to assimilate knowledge produced

outside the academic environment. Business schoolsshould act as knowledge hubs, bringing in new ideas,concepts and models generated outside their immediatesphere, for example in consultancies, corporateuniversities and other forums. New communicationand information technologies offer limitless potentialfor testing and developing ideas.

Appoint “embedded academics” within companies.This would be another step toward setting up chairsfinanced by companies in business schools. Theprofessors appointed to these chairs would workon specific projects with the sponsoring companies.

This approach is already in use among consultancies,

which send consultants into a company for long-termor highly important projects. “Embedded academics”would have one foot in academia and another in thebusiness world.

At IE business school in Madrid, Spain, we have alreadyput this approach into practice: we have a HumanResources Chair sponsored by leading Spanish fashion

retailer group Inditex and Accenture’s CompetitiveStrategy Chair. The professors who hold the chairsspend a significant amount of their time working onspecific projects with the companies involved, at thesame time pursuing relevant and up-to-the-minuteacademic research in their respective areas.

Develop ways to measure the impact of academicresearch on the real world. This would meangoing beyond the standard bibliometric indicators orarticle citation rates. We know that in management,as in the social sciences, the impact of ideas cannot

just be measured by how often they are turned into

patents or registered as inventions, the approachgenerally used in other scientific disciplines.

I would suggest two approaches:

• recognising a piece of academic work on the basisof its inclusion in management programmes taughtaround the world; for example, models or conceptssuch as the Balanced Scorecard, Blue OceanStrategies or Non-market Strategies, which arenow part of just about every MBA programme

• bringing together academics from business schools,corporate universities, development departments,

consultancies and even the publishers of managementpublications to design systems that would allow forperiodic analysis of research produced by schools andtheir use as management tools in the business world.Ideally, this would come up with a range of measuringsystems reflecting diverse cultural and businesspractices and thus the heterogeneity of the research.

Research is one of the most valuable assets ofthe academic world, and should be encouragedand increased. Sadly, at times of crisis, research,development and innovation (R+D+I) spending tendsto be the first to be axed, a policy that in the long termleads only to loss of competitiveness and innovativecapacity.

It is essential to raise awareness of the value ofacademic research for the business world, andthis is something in which business schools canplay a key role.

ABOUT THE AUTHOR

Santiago Iñiguez is the Dean of IE Business School, Madrid, Spain

This is an adapted and edited extract from Santiago Iñiguez’s bookThe Learning Curve: How Business Schools Are Reinventing Education

(London: Palgrave Macmillan 2011)

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26

www.efmd.org/globalf ocus

EFMD Case WritingCompetition 2011

WINNERS

Best of the Best

Joint Winners

African Business Cases

mothers2mothers WRITTEN BY:

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To review the winningcases and find out more

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Responsibility

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27

EFMD Global Focus | Volume 06 | Issue 02 2012

Euro-Mediterranean

Managerial Practices

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Becoming a

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7/21/2019 Volume 06 _ Issue 02 2012



Accreditation, rankings and other ‘institutional’ pressures have squeezed the creative guts fromcritical aspects of the sector and left a residueof coalescence across many parts of the field

Over the last 40 years, varietyin business schools hasdiminished considerably.Where once there stood a

rich intellectual diversity, there now sitsan intellectual conformity as a result of

deans being seemingly content to achievetriple-accredited status and to schemeactively in the various rankings games.

Like an invisible hand, accreditation,rankings and other “institutional”pressures have squeezed the creativeguts from critical aspects of the sectorand left a residue of coalescence acrossmany parts of the field. What happened?

From the late 1960s to the late 2000s,business schools appeared to be highly

successful. Whether measured crudelyby cash generation or by scholarliness,through the creation of a specific language,narrative and an eclectic approach to thestudy of management, their performancefrom a de novo start through a period ofrapid growth seemed remarkable.

However, accusations of the complicity ofbusiness schools in the recent financialcrisis led to intense criticism of themfor embracing the “wrong” financialmodel; for straying away from the

internal happenings of businessorganisations; and for embracingscientific rigour (“physics envy”) atthe expense of business relevance.

As a result, popular cries of “moral failing”were laid at their expensive doors. Ofcourse, business schools are not passiveparticipants in this decline. There isevidence of recent re-invention as somemake their teaching and research moreapplicable to wider society. Nevertheless,if more schools are to stay focused then

an honest appraisal of the underlyingpressures that caused this, hopefullytemporary, aberration is essential.

At the root of the issue is the degree ofautonomous choice that business schooldeans and university executives have overthe trajectory of their business school andhow much of that trajectory is determinedby environmental forces beyond theircontrol.

On the one hand, one can arguethat executive management shouldhave control over certain elements ofcurriculum design or major strategicissues. For example, if a strategy of highgrowth is chosen then the resultant size

will determine the amount ofspecialisation in terms of numbersof departments, research centres, ITplatforms and the expertise of faculty.Alternatively, the choice of a low-growthstrategy will lead to a school that isdifferent in capability, structure andfocus.

On the other hand, business schoolsand their senior executives face a rangeof institutional pressures that haveworked singly and interactively overrecent decades to restrict considerablyany autonomous executive choice.

Isomorphism

Isomorphic pressures act as aconstraining process that forcesone unit in a population to resembleother units that face the same set ofenvironmental conditions. Pressuresforce organisations to adopt rule-likepatterns of action and behaviour thatbecome embedded in organisational

structures and processes. The result isa set of homogeneous units behavingin more or less the same way. Thisisomorphism is a central tenet ofinstitutional theory in sociology.

In the business school field, thesepressures act over time to force schoolsto conform and, seemingly, look thesame. There are three main isomorphicpressures: coercive, normative andmimetic.

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29EFMD Global Focus | Volume 06 | Issue 02 2012Pressures to conform by Peter McKiernan and David Wilson

Pressures

Peter McKiernan and David Wilson argue that business schools should stop copying each otherand start rediscovering their diversity

7/21/2019 Volume 06 _ Issue 02 2012



Coercive and normative pressures

Coercive pressures are exerted on dependentorganisations by regulatory agencies. Thisis an influential pressure because of the powerdifferential in a relationship that creates adependency of one body on another.

For example, business school deans talk of the“power” that accrediting bodies have in specifyingtight criteria that restrict their ability to make localalterations or adjustments. Whether this power isreal or perceived, it exists across the field.

As one dean expressed it: “Professionalaccrediting bodies constrain the curricula most.But in fostering [a culture of] standardisation, welose judgement, variety, reactivity and innovation”.

There can be little doubt that the main accreditingbodies (AACSB, AMBA and EQUIS) provide arigorous quality-assurance process for thestakeholders of those schools whom they accredit.But they have attracted a fair degree of criticism,not least for the way in which their accreditationbadges create and perpetuate an elite of “haves”and the poor relation of “have nots” (the vastmajority of business schools) leading oneacademic to proclaim: “AACSB is like agroup of foxes guarding the MBA hen-houses.”

Deans pay their foxes for protection under theaccreditation badge and, ironically, pay in parallelfor the loss of their strategic degrees of freedom.

Much of the criticism has been directed at AACSB

for its general inflexibility and its lack of interest inanything that does not resemble an elite Americanbusiness school. But the others share theisomorphic guilt.

For example, EQUIS, though more flexible in itsapproach than AACSB, stresses the need forinternationalisation, close corporate connectionsand the existence of permanent teaching staff(despite network-based organisations beingarguably more efficient and effective ways oforganising knowledge workers).

AMBA’s pressures may be more restrictivestill, focusing on student intake, recruitment,curriculum content and relevance and pressingthe necessity of the teaching of ethics, creativityand innovation in a post-crisis world. Even ifunintended, such pressures weigh heavily upondeans.

As well as accrediting bodies, business schools aresubject to normative isomorphic pressures by twomain types of ranking institutions: the ranking ofschools and the ranking of research within them.

Both sets of rankings augment the audit society inwhich we operate with school rankings in Britain

led by media outlets such The Economist andFinancial Times; and the research rankings, ledusually by government authorities keen to rationlimited public research budgets.

Inevitably, most rankings produce performancetables, listing schools from top to bottom. Weshould treat these tables not as mere photographsof positions but as powerful engines.

Once the tables exist, they take on a new “lifeform” by defining the boundaries of a field, theplayers within it, the relationship between theplayers and then drive a whole set of competitivedynamics such as “game playing” by deans.

To be in the “top ten” (or whatever position ischosen) becomes a systemic part of a school’smission statement, driving strategy, policyand behaviour. Outcomes are not alwayspositive, as staff morale has been damagedseriously by religious adherence to the game.

School rankings force homogeneity in the systemthrough knowledge exchange as followers mimicthe strategy, structure and competencies of theleaders. For example, schools in Eastern Europe,India and China mimic top Western schools. Thusthe league tables become a reified part of businessschool politics and strategy.

Research rankings also reinforce conformitybetween schools. Striving to be part of anexclusive elite club (top research rankings),business schools set up similar structures,

including differential pay schemes for staff withstrong research performance, incentives for topresearch output, high transfer fees for promisingtalent, the privileging of research over teachingin the allocation of workloads and promotionalsystems and, in a world where the book hasgiven way to the peer-reviewed article, theslavish leaning on guides and lists.

In Britain, perhaps the most audited of allEuropean academes, deans emphasise theexpectation of a set of star articles from activeresearch staff during any audit period.

This privileging of the article is embeddedboth cognitively and contractually, even amongprobationary staff, causing serious stress and

job insecurity.

The publishing pressure in the system produces“more of the same” year after year, calling intoquestion whether academics simply publish toomuch. Moreover, the unintended consequencesof audit are often greater than those intended,leading to, for example, risk aversion in researchquestions, more theory replication, no big

projects and the rearing of a generation markedby research conservatism rather than boldness.

Mostrankings produce performancetables, listing

schools from top tobottom. We should treatthese tablesnot as mere photographsof positionsbut as powerfulengines

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31EFMD Global Focus | Volume 06 | Issue 02 2012Pressures to conform by Peter McKiernan and David Wilson

Mimetic pressures

Copying among schools adds more pressuretowards similarity, especially within curriculumdesign. The ability of business schools to raiserevenues has made them a necessity for mostuniversity executives, including in such traditionalsettings as Oxford and Cambridge.

As mentioned, late entrants copy models theyperceive to be successful and, invariably, add theubiquitous MBA degree to the mix. This globaloffering has been heavily standardised over thedecades such that good MBA lecturers can travelthe world teaching at several institutions withoutserious alterations to their syllabus content andtheir power-point slides.

Further, explicit and sometimes implicit supportfor free-market economics in most businessschools often permeates the curriculum to negatethe teaching of alternative modes of organising.

“Although I don’t wholly agree with HenryMintzberg’s assessment of MBAs as lop-sidedcritters with icy hearts, I do think the relativeneglect of two-thirds of the economy (non-profitsand the public sector) is a crushing criticism ofmany business schools today,” says one dean.

In addition, mimetic tendencies can be witnessedin the system of external examiners, movingbetween schools and striving to hold quality to apredefined standard (usually derived from theirown institution) and the tendency to teach, andpublish, in English.

Generally, such pressures cause the curriculumto be designed and taught in the same manner.This is reinforced by the expectations of accreditingbodies where, after the financial crisis, there werecalls to add ethics, CSR and sustainability to allcurricula (especially by AACSB). Such conformitymeans that key social issues (for example, a worldwhere obesity and famine exist in parallel) andalternative organisational forms (communes,Amish, mafia, al Qaeda) go unobserved and notdiscussed by the wealth of talent within businessschools.

“If you ask an MBA class of experienced managerswhat they consider to be important topics todiscuss in class, they will often raise topics that areeither rarely taught or not taught at all in businessschools, [ranging] from ethics to questions ofresponsibility, accountability, the political economy,war and the role of governments ...so you get thismismatch between what is taught (largely throughcase studies of successful companies) and what isreally wanted by the students,” says a deputy dean.

What to do?

There are several responses to isomorphicpressures; acquiesce, compromise, avoid,manipulate and defy.

Many business schools simply acquiesce,accepting their fate is driven by suchexternalities. Others compromise, by tinkeringwith the curriculum, by adding CSR, ethics and

sustainability. A handful avoid the pressuresby making their schools the centre of strongdisciplines such as economics, sociology,engineering, politics and medicine. Somewill build powerful alliances with practitionersand manipulate the pressures.

However, we feel that a domain shift is requiredto strip schools of these pressures as muchas possible and, hence, we argue for outrightdefiance in order to configure business schoolsbetter for the issues that society faces and thatschools do not usually engage with.

We suggest three ways forward.

First, a formidable effort is needed by theinstitutional agencies that exert the pressures(accreditation and ranking bodies) to work moreclosely with both schools and academic societiessuch as BAM, EURAM, EGOS. There is a sense inwhich the recent co-operative strategic directionof EFMD might yield early results.

Second, schools should integrate more withcognate subjects in their own universities.Many mature business school scholars emergedfrom other disciplinary backgrounds but newergenerations have been brought up “within”the field of management. A re-engagement withour roots might bear much fruit in research andteaching and keep curricula alive and pertinent.

Finally, narrow and conservative teaching andresearch foci (for example on how Apple orHewlett-Packard “got it right”) should give awayto an embracement of broader societal problemssuch as climate change and its effects, pre- andpost-conflict societies, implications of a digital

society, poverty and inequality, and non-capitalistways of organising.

For sure, this redirection will not happen overnight.But small steps will yield a major survival story forthe business schools of the next generation. Thework has to start here and now.

ABOUT THE AUTHORS

Peter McKiernan is Professor of Management, Universityof Strathclyde, Glasgow, and Past President of EURAM.

David Wilson is Professor and Head of D epartment, Sociology,University of Warwick, Coventry, and Past Chair of EGOS

The authors point out that this article refers to university-basedbusiness schools and their view is from a British standpoint.

There isa sense in which therecentco-operative

strategicdirectionof EFMDmight yieldearly results

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Makingmanagers fit

for the future

We have always needed leaders able to understand what thefuture may hold. It’s just that today we need them more thanever. Patrick Harris and Dr Rebecca Nash outline how wemight produce them

Futures activities run into difficulty when therehas been no intrinsic effort made to link anexploration of the future to an organisation’sstrategic and decision-making processes

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33EFMD Global Focus | Volume 06 | Issue 02 2012Making managers fit for the future by Patrick Harris and Dr Rebecca Nash

I

t is easy to suggest that, given the uncertainty in theworld today, having a future-focused leader at the helmis more important than ever. However, while it istempting to assert this, it is wrong to do so.

The fact is that we have always required leaders who studyand try to understand how the future might unfold. Today,the need is simply more apparent when we see significantshifts in areas such as global energy supply and security,climate change, a macro-economic shift in power anda fall in the trust afforded to institutions.

But what does it mean to have a future-facing leader? Moreimportantly, how can we equip our emerging leaders withthese critical skills before they are exposed to the cut andthrust of leading significant areas of organisations? Onesure-fire way to build success in this area is by incorporatingFutures, or Strategic Foresight, within leadership

development programmes.

A working definition of what we mean by the term “Futures”is that it is the means by which an individual or organisationmaintains a mindful brief on the medium to long-term future,identifies opportunities within uncertainty, prepares forpossible future events, and embeds its future-focusedthinking into strategic and decision-making processes.

Why Futures for leadership?

“For tomorrow belongs to the people who prepare for it today.”

African Proverb

The two primary reasons for enabling leaders with Futuresskills are the need, as Gaston Berger, the widely respectedFrench Futures pioneer, put it, to “disturb the present” and tolead while dealing appropriately with a context of uncertainty.

Disturbing – and acting in – the present

Futures activities can run into difficulty when there has beenno intrinsic effort made to link an exploration of the future toan organisation’s strategic and decision-making processes.

For solid strategic linkage, leaders must fully embrace aFutures mindset and thereafter promote the ability to actupon the ramifications and opportunities that possessing alonger-term perspective brings. This combination of Futures

study and taking action today is a powerful means of makingdecisions more robust over the long term

Leading in a context of uncertainty

Along with the aim to make better, more informed decisionssits an equally straightforward reason for developingfuture-facing leaders – dealing appropriately with uncertainty.While some events can be planned for, there are others thatpossess a higher degree of uncertainty and it is in these areaswhere leaders need to build in not finite plans but agility,preparedness and adaptability.

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Leaders, however certain their agendasmay appear today, must deal withuncertainty in the longer-term.How else will an organisationrespond appropriately to changingcircumstances?

Nearer-term responses can usually be

developed with planning tools, medium-term with strategic evaluation. Butfor incorporating a longer-termperspective, where uncertainty isthe norm, the language and toolsof Strategic Foresight becomeindispensable. For clarity, theuncertainty we refer to here isthe likelihood of a particular eventor outcome occurring within thetimeframe under consideration,or the degree with which the event

may or may not occur at all.Enabling leaders with longer timeframes and different sources

"The future is already here,

it is just unevenly distributed."

William Gibson

The above quote by the gifted sciencefiction writer William Gibson is anoft-used expression in Futures work.His meaning for our context is that ifleaders are to understand tomorrowthey should begin by looking closelyat weak signals around them today.

Scanning as the first step

Gibson’s quote is also helpful foridentifying horizon scanning as theinitial building block of future-facingleaders. Consider the future-probingexamples below.

A person driving a car not so manyyears ago would have perched a mapon his or her lap; now they might relyinstead on Global Positioning Systems.

Was the awkwardly positioned “lapmap” a weak signal of drivers needingto see both the road and navigation aidsat the same time?

Or consider that central locking isstandard on cars today but we stilltend to use keys to enter our homes.Is central locking of the home a futurestate that we can expect to see oncethe appropriate technologies andbehaviours fall into place? What triggersmight be necessary for this to happen?

The language of Futures

A capacity to scan the horizon providesinsights into emerging weak signals, aswell as a solid understanding of factorsthat will influence the future. It is thesedrivers of change that leaders, workingwith others, can build into key trendsthat have the greatest relevance fortheir organisation.

Often a future-facing programme ofwork will develop further by using keytrends to construct scenarios –descriptions of future worlds,each as plausible (or implausible)as the other – which leaders canuse to paint a picture of the futureand which decision makers can useto test future strategies.

These Futures components – insights,

drivers, trends and scenarios – canshow leaders how to steer theirorganisations into new product areas,invest in R&D or to build adaptablestrategies that can respond to the keytriggers identified.

Leaders can serve a Futures agendawell by accessing multidisciplinaryinformation, by ensuring that theorganisation maintains a mindful briefon cues and signals and by beingsensitive to alternative points of view.Importantly, by maintaining a set ofplausible Futures – each describinga coherent and logically consistentdescription of a future world – itbecomes easier for leaders to selector to create a preferred future for theorganisation.

Choosing preferred Futures can bedefining for leaders – both emergingand established.

First, the ability to use strengthened

awareness to identify and convincinglyarticulate a preferred future is not onlya hallmark of respected leadershipskills but it is also a good way to identifypotential emerging leaders.

Second, established leaders who areable to align an organisation behindgoals to help create a preferredfuture are demonstrating soundvisioning capabilities and are buildingsignificant strategic momentumas they progress – an all-important

ingredient of achieving strategic aims.

It is identifying driversof change that leaders,working with others,can build into key

trends that have the greatest relevance fortheir organisation

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35EFMD Global Focus | Volume 06 | Issue 02 2012Making managers fit for the future by Patrick Harris and Dr Rebecca Nash

Constructing a programmefor future-facing leaders

"Minds are like parachutes, they

only function when they are open."

Robert Dewar

We have discussed the importance offuture-facing leadership and the basic

recipe required in any Futures activity.But what can we say about the transferof Futures knowledge in leadershipdevelopment programmes? What tipsare available to ensure that leadersemerge capable of dealing with andresponding to uncertainty? Below is alist of principles to bear in mind whenincorporating Futures in leadershipprogrammes.

Work with individuals– recognise thatwhile the vast majority of Futures

studies are conducted with cross-sections of an organisation, it is peoplethat bring Futures to life and who willultimately make decisions afterwards.The need to establish personalattachment to Strategic Foresightshould be emphasised when developingexisting or emerging leaders.

Build a shared language – the Futuresspace is still a nascent one and can bepopulated with differing views, methodsand applications. Make sure that yourleaders have a shared understandingof the language employed.

Establish familiarity with methods – knowing and sharing a language isa first step; knowing what approachto apply, when it is best deployed andhow to apply it is just as critical.

Consider internal skills – developingFutures skills across theorganisation is important to helpleaders in their capacity to “see

more” and to respond better whenfacing situations of uncertainty.

Stimulate organisational awareness – aprogramme that develops leaders inStrategic Foresight – and one that livesafterward in the work of leaders – willtransfer organisational awareness, helpto identify key events and triggers thatindicate future shifts, improve theorganisation’s ability to respond andprovide greater propensity to adaptto new models and new sources ofcompetitive advantage when identified.

Emphasise the importance of inclusivity – leaders need to engage theorganisation in order to have thegreatest success.

Futures as a tool – ensure that leadersknow that Futures is just one tool intheir tool box. It is an important onebut is no magic bullet.

Know when to start – leaders shouldappreciate that Futures is a preparatoryactivity and is best begun before theorganisation is feeling a particularstrategic pinch

Ensure cultural fit – ensure thatfuture-focused thinking employedin the leaders and organisation hasan appropriate cultural fit

Futures is about decision making– aboveall, remember to connect Futures

thinking to strategy formation anddecision making. Futures is notthe end product but a key necessarystep to improve decisions taken inthe organisation.

These principles are a helpful reminderof the characteristics of Futures workthat leadership programme designersshould bear in mind as they work toconstruct development platforms.The principles also form a checklistthat leaders should firmly grasp ifthey hope positively to influencethe decision-making, preparedness,agility and long-term success of theirorganisation.

ABOUT THE AUTHORS

Patrick Harris is the founder of the consultancy thoughtengine and was formerly Director of Creaticity for Orange.He is an Associate of The Futures Company. His book, The Truth About Creativity, was published by PearsonPrentice Hall in 2009. http://www.thoughteng ine.co.uk/

Dr Rebecca Nash is a senior member of The Futures Company’s Trends and Futures team. She specialises inlong-term futures and scenarios methods as well as qualitative customer insight research and consultancyacross the public and private sectors. http://www.thefuturescompany.com/

Futures is not the

end product but akey necessary step toimprove decisions takenin the organisation

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OneGiant step tocollaboration

& innovation?

Business schools are increasingly looking to alliances to increase their strategic reach.Julie Perrin-Halot reports on one French attempt to break down the barriers betweenmanagement and hard science

Innovation campuses are characterised by theirunique mix of science and technology, they are builton a triptych of fundamental and applied research,higher education, and industry and economic value

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37EFMD Global Focus | Volume 06 | Issue 02 2012One GIANT step to collaboration and innovation? by Julie Perrin-Halot

In a time of shifting dynamics – economic,societal, geopolitical and more – businessschools are finding it necessary to think

more innovatively about their current andfuture business and academic models.

As a result, innovations are touching the way weteach, the way we learn, the way we work. They aretaking place in our classrooms, our researchagendas, our offices, our boardrooms and inour interactions with our communities.

They also affect the collaborative networks ofalliances and partnerships that schools aredeveloping.

For some schools, new forms of collaboration may

be primarily a response to concerns about strategicpositioning or brand leveraging. Collaborationmay primarily serve the interest of offering newopportunities or, for some, may simply be aquestion of survival.

And yet, while for most schools the economicconsiderations may remain predominant, behindthe choice to move towards new collaborativemodels is a desire to advance and differentiatethe educational experience of their studentswhile responding to the evolving needs of society.

The new alliances that schools are entering intoare taking different forms. For example, certainschools may decide to initiate mergers withinstitutions very similar to their own to leveragetheir strategic positions and build on commondenominators to create greater growth andpresence.

A recent illustration (January 2012) was theannounced merger of two triple-accreditedFrench business schools – Bordeaux Ecole deManagement and Euromed, based in Marseille.This merger is likely to produce the third-largest

school in France in budgetary terms and one thatwill dominate the southern and Mediterraneanareas of the country.

The Directors of the two schools refer to thecritically strategic nature of this choice in the faceof globalisation. A global brand must be leveraged

and growth must accelerate for they predict that inten years the French landscape will be dramaticallydifferent. While the venture is not without risk,the greater risk would be in not making a move.

Another example shows how schools may chooseto collaborate through merging with organisationspossessing different skill and knowledge sets inthe interest of broadening their scope and impact.

An example of this is the 2011 merger betweenDenmark’s Aarhus School of Business and AarhusUniversity’s Faculty of Social Sciences.

Undertaken as a part of a major reorganisationwithin Aarhus University, this merger has soughtto create a structure better capable of respondingto some of the greater challenges currently facingsociety by providing a broader interdisciplinaryapproach to business and management.

Because business leaders today must understandthe impact their companies have not only onthe economy but also on individuals, on societyand on the environment, Aarhus has broughttogether business, management and the socialsciences to provide these leaders with a more

holistic awareness and approach.

A final example – and the focus of this article –is that of Grenoble Ecole de Management and itsunique alliance called GIANT – Grenoble Innovationfor Advanced New Technologies.

Though similar to Aarhus in its stated aimsto find responses to society’s greatest challenges,it differs in that rather than combiningmanagement science and the social sciences itis mixing management and hard science. Hereis a different kind of alliance, one that reaches

beyond the traditional boundaries of businessand into a very different and innovative context.

GIANTGrenobleInnovation for

A dvancedNewTechnologies

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A handful of “innovation campuses” currently exist,the Massachusetts Institute of Technology and theCalifornia Institute of Technology, Caltech, maycome to mind.

These campuses are characterised by their uniquemix of science and technology, serving to imagineresponses for tomorrow’s world. They are builton a triptych of fundamental and applied research,

higher education, and industry and economicvalue.

However, few innovation campuses includea strong business/management dimensionin the higher education component.

GIANT is one of the rare cases where a businessschool is a founding member of a science andtechnology campus dedicated to working inthe fields of information and communicationtechnologies, renewable energy and theenvironment, healthcare and the biosciences.

The GIANT initiative, seeking to emulate anMIT-type structure and reputation, is about botha programme and a campus. The programmeis based on a declared intention by the foundingmembers to remove the traditional barriersbetween disciplines. They are looking to provokeand respond to the scientific and technologicaldisruptions that will drive the economy in thedecades to come.

To do so, they are combining fundamental researchwith higher education and integrating a strong

economic and industrial dimension through theactive participation of a business school withexpertise in the area of management of technology.

So what does a school specialised in managementeducation have to gain from such an alliance? Tobegin with, it represents an unique opportunity fora business school, especially one that has alreadyidentified itself as an authority in management oftechnology and innovation (MTI). Grenoble Ecole deManagement’s contribution to the higher educationarea of the triptych is readily self-evident and amultitude of possibilities are opening up in the

areas of research and industry.

The effects of the school’s role in the GIANTproject are multi-faceted. Many of the concretemanifestations to date primarily concern the

school’s programmes, its people and its pedagogy.

Grenoble Ecole de Management finds itself in aposition to capitalise on its existing expertise in thefield of MTI, the niche it has occupied since 1984when it was created to foster co-operation betweenscientists, engineers, managers and the corporateworld.

A series of Advanced Masters programmeshave been developed with concentrationssuch as energy marketing and management,biotechnology management, innovation, and

strategy and entrepreneurship.

Executive Education programmes linkingmanagement and R&D, management andinnovation, management and energy, nanotechand biotech management, and design andmanufacturing of high-tech services are alsobeing developed.

Furthermore, even the more generalistundergraduate and graduate curricula featureadditional course offerings related to innovationand technology. Faculty, researchers and students

at Grenoble Ecole de Management are beingoffered many new and diverse opportunities. A host

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39EFMD Global Focus | Volume 06 | Issue 02 2012One GIANT step to collaboration and innovation? by Julie Perrin-Halot

GIANTFOUNDERSINCLUDE:

RESEARCH FACILITIES

THE ALTERNATIVE ENERGY

AND ATOMIC ENERGYCOMMISSION (CEA)

THE NATIONAL CENTRE

FOR SCIENTIFIC RESEARCH

(CNRS)

LARGE-SCALE RESEARCH

INFRASTRUCTURES

THE EUROPEAN

MOLECULAR BIOLOGY

LABORATORY (EBML)

THE EUROPEAN

SYNCHROTRON

RADIATION FACILTY (ERSF)

THE LAUE-LANGEVIN

INSTITUTE (ILL)

SCHOOLS AND UNIVERSITIES

GRENOBLE ECOLE DE

MANAGEMENT (GEM)

GRENOBLE INSTITUTE OF

TECHNOLOGY (G-INP)

THE JOSEPH FOURIERUNIVERSITY (UJF)

8 A steering commit tee composed

of the eight founding members

acts as a central governance

body. This is also an inn ovative

approach considering the size

and scope of the project as there

is no legal structure binding the

members. GIANT is an example

of collegial project management

and its success thus far is due to

a clear vision of its objectives

and the means required to attain

them.

of events and forums linking local industry,researchers, faculty and students are regularlyscheduled. Innovation seminars, researchseminars and invitations to participate in nationallyfunded basic and applied research programmesconcerning energy and innovation are being madeavailable. In addition, cross-disciplinary projectsand networks are being created.

Students at the school are offered increasedpossibilities to carry out innovation-related fieldmissions within their programmes. Courses arebeing built around innovative projects mixingengineering and management students.Internships and missions for entrepreneurshipstudents are proposed in GIANT start-ups. Andnew specialisation tracks have been createdin marketing and energy, biotech strategy andmanagement, architecture, and business andsustainable development.

With its cross-disciplinary approach and focuson new technologies and innovation the GIANTproject provides a superb platform for pedagogicalinnovations, both in content and in methods.

New cutting-edge technologies for teaching andlearning will be tested with the aim of creatingmore and different interactive and distancelearning opportunities. New blended learningtechniques, greater diversification of populationsin the classroom, increased experiential learningare all part of an ambitious project to putinnovation to work to improve the quality

of the teaching and learning experiences.In addition, a new teaching and research orientedlearning centre, combining library services withnew technologies is under construction.

Finally, GIANT will be a campus – but not just anycampus. Designed to be carbon-neutral with aco-operative approach to energy management,its buildings will be low-energy with vegetal roofs;a hydroelectric power station and solar panelswill produce clean energy. A highly co-ordinatedtransportation system has been designed (trams,shuttles and electric vehicles) in order to drastically

reduce single-occupancy vehicle use and eliminatecongestion.

This is a unique urban community planninginitiative that seeks to create a harmoniousinterweaving of spaces for work, residence andleisure – a perfect example of how innovationsare not only touching the way we teach, the waywe learn and the way we work but also the waywe work together. ABOUT THE AUTHOR

Julie Perrin-Halot is AssociateDean/Director of Quality, CentreQUID (Quality and Institutional

Development), Grenoble Ecole deManagement, Grenoble, France.

The effects of the school’srole in the GIANT project are multi-faceted. Many of the concretemanifestations to date primarily concern theschool’s programmes, its people and its pedagogy

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Fiona Dent and Viki Holton detail how organisationscan help more women to become business leaders

How women

can navigateto becomeglobal leaders

We heard many stories of derailment and disenchantment– highlighting a clash between the competing demands of parenthood and organisational life. It led to frustrationand often the curtailment of a woman’s career

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41EFMD Global Focus | Volume 06 | Issue 02 2012How women can navigate to become global leaders by Fiona Dent and Viki Holton

It is clear to us from our own and others’research that organisations and seniorteams within them increasingly recognisethe importance of the role of women in

business and, indeed, see it as a key businessimperative.

There is growing media interest and there hasnever been a better time to grasp the nettleand move to action. The role of the individualin this area is admittedly vitally important. Butorganisations could and should be doing muchmore to bring about significant change.

This article draws upon the evidence collected fromour recent research at Ashridge Business School.We highlight several areas where organisationscould contribute to improving the currentlandscape for women in business, allowing them

to be leaders in the field. True, some organisationsare forging ahead but these are the exceptionrather than the rule. There is still much moreto be done to ensure true equality.

Our focus is on two main areas:

• Key career phases

• Organisational solutions

In our research we heard many stories ofderailment and disenchantment. Many of thesestories highlighted a clash between the competingdemands of parenthood and organisational life.

It led to frustration and often the curtailment ofa woman’s career.

Some of the examples illustrated organisationalstereotyping in relation to the working mother,for example:

• Once women have children they are no longerambitious

• Working mothers do not want promotion

• Working mothers are not interested in taking onoperational roles or in stretch or internationalassignments

Providing development opportunities to helpwomen into leadership roles is important atall phases of their career. In the early stagesit is about making them aware of their ownskill set and abilities and providing them withopportunities to experiment and practise ina supportive environment.

As they begin to move into higher levels it involveshelping them to gain experience that will preparethem for more senior appointments.

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Should women survive the early and the mid careerphase then the next stage – senior and director-level appointments – is the most challenging ofall. Many commentators have highlighted the lackof women at senior levels in organisations and therecent controversy over the severe lack of womenon boards has been a key media issue since theUK based Davies Report in 2011.

So, what can organisations do?

First, and most importantly, they must recognisethat this is an issue and examine the currentsituation for women in their own organisation.

For example, they could develop simple metricsto illustrate the gender pattern in differentorganisational situations, such as:

• Women at different management levels• Women in the talent pipeline who have been

identified as high potentials

• The number of women applying for promotionto more senior-level appointments

• Women attending senior-level executivedevelopment programmes

• Women leading key strategic projects

Gaining chief executive and senior-levelcommitment to these issues is vital if changeis to take place. Rhetoric from the boardroomis not enough. Action is required and, inaddition to good diversity policies and practices,senior leaders must model behaviour andshow genuine willingness to lead and bringabout change for women in their business.

At the heart of this is the recognition that for trueequality and diversity the topic must be treated inthe same way as any other business issue. Seniorleaders should ensure that the issue of diversityfeatures in any performance framework, forexample by setting key performance indicators.

In our research many people mentioned theimportance of role models. Having only one ortwo women at senior or board level is regarded bymany as tokenism and serves to illustrate the lackof commitment from the top. Quotas are one wayto deal with this situation and this approach hasbeen used in some countries and organisations.

We believe that there are better ways. Getting to

the top should always be on merit and it is onlyby providing women with appropriate experiencesat key career phases that this can happen. Moreopportunities to be involved in senior-level workand on key assignments would help women gainthis experience and develop a business reputationamong senior colleagues.

It is also important that women are involvedas decision makers in the talent-managementprocess, identification of high-flyers andsuccession planning. The three career phases areillustrated in Figure 1 together with examples ofwho can help and approaches that can be used.

There is no doubt that we have come a long wayover the past ten years, not least in the numbersof the new generation of women managers whoare entering the business world. However, theevidence from our Ashridge research emphasiseshow much more action needs to take place. Weneed more organisations that are willing to setthe example for others to follow.

Earlier campaigns and networks clearly illustratehow important this approach is. Some examples

are:

• EFMD’s generous sponsorship helped establishand build the European Women’s ManagementDevelopment network. Martine Plompen ran thesecretariat – hosted at EFMD’s headquarters – andmany of the early activities and annual conferenceswere only possible thanks to the help from EFMDand the support of a number of leading employers.

The lack of women at senior levels inorganisations and the recent controversyover the severe lack of women on

boards has been a key media issue

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43EFMD Global Focus | Volume 06 | Issue 02 2012How women can navigate to become global leaders by Fiona Dent and Viki Holton

ABOUT THE AUTHORS

Fiona Dent is Director of Executive Education and Viki Holton isResearch Fellow, both at Ashridge Business School in Britain.

RESEARCH APPROACH

& FURTHER INFORMATION

Our research invited women who had attended

programmes at Ashridge Business School tocomplete an on-line survey and asked them to

contact others who might also take part in the

research study. Over 1,400 replies were received,

including 69% from senior managers, directors or

chief executives. We also interviewed 20 women

leaders to help us appreciate what it means to be

a woman manager in the 21st century.

A book, Women in Business: Navigating

Career Success by Viki Holton and FionaElsa Dent, detailing the research findings,

was published in April. There is also an executive

summary report; for a copy

of this please contact either:

Viki Holton

[email protected]

Fiona Dent

[email protected]

Early career phase

Boss

Role models

Colleagues

Job shadowing

Mentoring

Development workshops

Mid career phase

Boss

Family

Coaching and mentoring

Professional associations

and other networks

Stretch assignments

Taking international opportunities

Senior career phase

Boss

More senior colleagues willing

to be mentors or sponsors

Reverse mentoring, where younger

women act as mentors to more senior

directors and/or board members

Strategic/senior networks

Acting as mentor for younger,

less experienced colleagues

Figure 1. Three Phases of Women’s Careers

Who

How

• Opportunity Now in Britain (which was launchedas Opportunity 2000) similarly benefitted fromcompany support and the efforts of Business inthe Community (the charity trust led by PrinceCharles).

If more organisations would step forward and leadthe way this would help encourage others. It couldbe within certain sectors or a profession or acountry – as shown recently in Denmark witha campaign that includes Danfoss and others.

Companies that have developed their own womenfor senior positions will quickly become employersof choice and will be leaders in the field of diversity.In addition, research suggests that thoseorganisations with greater diversity in theirmanagement and senior teams achieve betterbusiness results and overall performance.

As one woman we interviewed said: “The teamsthat I’ve worked on that are more balanced, morediverse in terms of gender, culture and experience,have invariably delivered better results and createda great team environment to work in with a gooddegree of challenge and support and, importantly,become places that others want to come and workin”.

69%Of the 1,400 survey

replies received, 69%

were from senior

managers, directors

or chief executives

We also interviewed

20 women business

leaders to help us

appreciate what it

means to be a woman

manager in the 21st

century

20

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The 16th century marked the endof medieval castles. The powerof gunpowder turned their wallsinto paperboard and the rise of

cities as the vibrant centres of society maderural castles irrelevant.

So, are we now seeing similar changes withregard to one of the last remainingmedieval institutions: the universities?

The internet has fundamentally changed

the ways we create and spread knowledgeand has brought down former icons ofacademia such as the EncyclopaediaBritannica. Society as well as businessneeds constant innovation and learning,but will universities and academic researchbe the places to provide them? Or willpeople, and in particular managers, lookfor different ways to acquire knowledgeand create new ideas – perhaps via theweb – thereby bypassing universities?

After 12 years in management consultingand with many open and unsolved questionsthat I wanted to explore more deeply,I decided to return to academia for aPhD in management at a North Americanuniversity.

My experiences so far have confirmed mydecision. However, the deeper insightsI have gained into how future professorsare shaped have only posed anotherquestion: does this training add toadditional knowledge needed in a

modern society and business world or isit rather intended for medieval castles?

I began to realise that the divide betweenthe world of research and the world ofpractitioners is greater than I thought – andthe reasons why can be found on both sides.

First, let us take a look at the selection ofPhD candidates.

One of the best-known entry hurdles isthe GMAT, an academic aptitude test.The internet is full of advice and training

materials on how to achieve high scores.

Wolfgang Lassl offers some thoughts on the relationship between business academia and managers

It remains a mystery to me how answering aquestion for the unit digits of n in the expressionn=5 x +7 y+3 in less than 100 seconds relates toa doctorate in management

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45EFMD Global Focus | Volume 06 | Issue 02 2012Castles in the sky or more reality? by Wolfgang Lassl

Yet, it still remains a mystery to me howanswering a question for the unit digitsof n in the expression n=5 x +7 y+3 in lessthan 100 seconds relates to a doctoratein management.

Will someone who solves this questionhave a good understanding ofmanagement issues and the governanceof organisations? Perhaps; perhaps not.Although business programmes choose

candidates not exclusively on the basis ofthis test, they yet place great emphasison it.

Most PhD candidates are young, in theirlate 20s or early 30s. Candidates with afew years professional experience seemto be a minority; candidates with morethan ten years work experience are theexception.

PhD programme administrators tend tobe cautious vis-à-vis professionals because

they fear that professionals, after havingtasted the sweetness of “real life”,may find it hard to stand the rigor andacademic solitude of a PhD. Worse, theymay be unsuccessful dropouts who, inthe absence of other choices, want to trythe quieter academic life.

As a result, the majority of future professorsof management (or one of its functions) mayrarely have been significantly exposed totheir object of inquiry.

A third-year PhD student in organisationalstudies confided to me that she has neverseen an organisation from the inside.A lack of sense in his research wassimply a logical consequence. Andhow he will teach and understandorganisations successfully willremain difficult to understand.

This is not intended to question thecapabilities of young PhD students –on the contrary. The issue here is ratherthe right balance: do we not need more

people in research that have acquired

Practitioners should be morewilling to let researchers intotheir own organisations andengage and involve them morewith their real ‘burning issues’

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We are creating intellectualmonocultures where we should have avibrant academic discussion betweendifferent and conflicting perspectives

that specific knowledgethat can only be acquired

through time and experience,in particular for a practical

science such as management? Arewe not foregoing valuable resourcesfor inspirations and new perspectives?

Furthermore: interdisciplinaryresearch, the source of manyinnovations, seems to be more often

a myth than reality. Instead, we seefragmentation and ever-increasingspecialisation in research – contrary tothe reality of practitioners' experiences,which are commonly interdisciplinaryand multifaceted. This is furtherintensified by the fact that professorsare assessed by the frequency withwhich they publish in top journals.

Since it is impossible for an individualto acquire knowledge in severaldifferent academic areas, remain

updated and publish a significantamount of papers at the same time, thecurrent system of rewarding academicsnecessarily leads to research silos.

For a PhD applicant this also impliesthat, apart from formal hurdles, in orderto be successful it is highly critical totarget very precisely the specificinterests of the faculty overseeing thePhD programme. Candidates who havea topic in mind that is different from thecurrent faculty’s research interests are

“not the norm” and face an “uphillbattle” as one admissions officerphrased it.

We are creating intellectualmonocultures where we shouldhave a vibrant academic discussionbetween different and conflictingperspectives. Only this way canthere be a stimulating environmentfor new ideas and innovation.

But, as indicated, the divide is alsodue to practitioners’ attitudes.Researchers often run into resistancefrom organisations when they ask tocarry out research within them. This isless due to business secrets thanpractitioners’ unwillingness to undergowhat many regard as an “inspection”.

Many fear being told uncomfortabletruths by someone who does not

depend on them and cannot thereforebe controlled (this distinguishes anacademic from a consultant who hasto secure his or her next project).

Yet, truly scientific advice might be veryhelpful; many organisations are stillgoverned more by wishful thinkingthan by evidence. Research on whatmakes organisations functioneffectively is greatly needed.

We instead see managers turning tounsafe sources of advice.

These include:

• consultants selling their subjectiveexperiences of a very limited numberof similar projects (mostly withcompetitors) as “expertise” and whohave seldom tried out their advice onthemselves

• the huge mass of managementliterature published every year ofthe type “the 100 most importantfactors for success” (but can anyone

really control the “100 importantfactors for success”?)

• anecdotal advice from retiredmanagers (but do they reallyunderstand why they have beensuccessful?) or from fellow topmanagers of other organisations(but who knows whether their advicereally suits one’s own organisation)

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47EFMD Global Focus | Volume 06 | Issue 02 2012Castles in the sky or more reality? by Wolfgang Lassl

Summing up, the sources ofindependent, well-founded adviceare limited and we still tend tomanage organisations on the basisof (personal) faith and beliefs insteadof knowledge and facts.

Research has tremendous value forpractice. Our behaviour and decisionsare governed by our views of theworld or, in academic language, by

our theories. To have a sound andtested theory on the managementof organisations is therefore vitaland decisive for success and failure.

“Nothing is more practical than a goodtheory”. Good management theoryprovides guidance and spells out theotherwise hidden assumptions andinterdependencies in daily managementlife. Furthermore, it helps to reflect ononeself, to adopt different perspectivesand to see the blind spots. It makes

sure that we have captured theessential questions in our decisions;it provides us with the map necessaryfor orientation.

We have to accept that both worlds havetheir own purposes and consequentlytheir own way of functioning. Academiais embedded within the context ofuniversities and as such has theobligation to address more fundamentalquestions and issues reaching beyonddaily operational life. It must think about

the “bigger picture”.

Business research is also competingwith other sciences in terms ofmethodology. It therefore needs theability and freedom to addressproblems in a more formal, lessaccessible language.

However, we also have to incorporatethe demand by practitioners to havetheir questions addressed and solvedin reality (and not just in sometimesreductionist and abstract models).Research would gain a lot in credibilityand acceptance if it provided more ofthis kind of solution.

What needs to be done to close thegap between academia and real life?

We have to bear in mind that changeswill only happen if the system behindthe individuals is changed.

So, on the side of the researchers wehave to rethink how research agendasare defined. It seems that these aremostly set by researchers themselves.It would be worthwhile to involvepractitioners more.

Practitioners shouldalso be able to

determine, togetherwith academics, whattopics are relevant forresearch from their perspective andthey should also be integrated in thereview of articles for publication.

This may also require a “cleansing”of academic language. Sometimesone is tempted to think that academiclanguage is used as a tool to increaserather than to reduce the complexity(or simplicity?) of issues.

Another systemic factor that shouldbe reviewed is the performanceindicator of academics such as thenumber of publications. Do theseindicators not lead to too muchincremental research rather thanground-breaking new insights?

On the other hand, practitioners shouldbe more willing to let researchers intotheir own organisations and engageand involve them more with their real“burning issues”. The boundariesbetween academia and practitionershave to become more transparent.

Finally, we should devote more fundsexplicitly to interdisciplinary research.A multifaceted world requires

interdisciplinary solutions as we see inthe current financial crisis. This way, wecould ensure that we will live in modernvillas instead of old castles.

ABOUT THE AUTHOR

Wolfgang Lassl has worked for 1 2 years as amanagement consultant, university lecturerand top executive coach in the fields of strategy,organisation and leadership. He has worked fororganisations in the private, public and non-profitsector. He has earned two master degrees fromhis studies in theology and philosophy in Viennaand Paris, and in international relations at theFletcher School of Law and Diplomacy, USA, as aFulbright scholar. He is currently preparing for hisPhD in management on the design of organisations.

What needs to be doneto close the gap betweenacademia and real life?

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Eric Cornuel assesses the results and implicationsof the EFMD’s first research conference

Thebusinessof businessschoolsinvestigated

The business school of the future must becharacterised by speed, agility and rapidadaptability rather than by bureaucracy,

silos and axiomatic force

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49EFMD Global Focus | Volume 06 | Issue 02 2012The business of business schools investigated by Eric Cornuel

A n increasing understanding ofour institutions and our industryconfirms how vital leadership, changeand innovation are for the business

school and management education community.

The early days of the EFMD R&D initiative identifiedcore research themes for management educationas a research field. Now the first EFMD HigherEducation Research conference, held in mid-

February 2012 at The Lorange Institute of Businessin Zurich, Switzerland, has successfully concluded.

The changing context of business andmanagement education was highlightedthroughout the conference. A wealth of papersfocused on leadership and change in businessschools, internationalisation, and on branding andreputation.

Much of the content of the conference reflectsthinking that has been circulating within EFMDfor some time, though further and more in-depth

research work is required. Nevertheless, we havealready reached an important milestone.

Business schools have traditionally followed a pathof conformity and collective rationality, to someextent driven by external pressures from quarterssuch as media rankings and government agencies.But despite these (sometimes heavy) pressuresto conform, business schools need to find anddevelop a stronger voice, to start extending theirboundaries and to escape the tempting dangersof homogeneity. We also need to acknowledgehow different dimensions of excellence may

be defined by different stakeholder groups.[Some of these issues are addressed by PeterMcKiernan and David Wilson in their article“Pressures to conform” on page 28 of thisissue of Global Focus. Professors McKiernanand Wilson presented their ideas at the EFMDresearch conference.]

Peter Lorange, who hosted the EFMD researchconference, was of course the long-standinghead of IMD in Switzerland and now runs hisown business school, The Lorange Institute ofBusiness, in Zurich. There he is trying to establish“the business schools of the future” as he foreseesit – a networked, high-tech system with few if anyfull-time faculty.

EFMD is closely observing this experiment,

with a generally friendly eye.

Certainly many of Professor Lorange’s ideasand concepts chime with our own.

He says, for example, that the business schoolof the future must be characterised by speed,agility and rapid adaptability rather than bybureaucracy, silos and axiomatic force.

This is a true and very important message forbusiness of schools of today to take on board.

Instilling the competencies, capacities and

attitudes required for the next generation ofglobal business leaders requires more thanrelying solely on the simple acquisition ofknowledge. Experiential, presentational,propositional and practical ways of learningmust be integrated into the curriculum.

The top business schools of the future musttrain their students to meet the demands ofan increasingly complex world and in doing sothey will have to use challenging and innovativeapproaches to management education. They willneed to implement substantial changes in the

ways they prepare the next generation of leaders.While some schools are already employingmultidisciplinary approaches to learning, thetopic of corporate global responsibility presents afurther opportunity for integrated learning and forco-operation between traditional business schoolsubject areas. Corporate global responsibilityrequires both the knowledge and applicationof learning to a diverse set of business topics.

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Studies in this area provide an avenue wherebybusiness schools can move beyond functionalboundaries to holistic practice.

It is vitally important for business schools (andthe EFMD, which through its EQUIS and EPASaccreditation systems is charged with enhancingthe quality of management education) to havepedagogical methods that guide and train studentsto think critically and enable them to exercisetheir judgement in resolving new situations and

problems as they appear.It is vital that business school faculty accept theimportance of this.

We know that in today’s “image economy”,branding is emerging as a key competitive weapon.Yet research presented in Zurich confirmed whatmany already believed – that it is hard to predicthow faculty members in an institution will reactto efforts to manage its reputation or brand in astrategic way.

It was no surprise that the issue of media-based

rankings of business schools also featuredprominently at the Zurich conference.

It is now widely acknowledged in discussions ofbusiness school rankings that they co-producewhat they purport to measure. It is also clear thatattempting to convert qualitative issues intoquantitative metrics in order to produce a “leaguetable” involves severe simplification while at thesame time conferring an aura of authority andpublic accountability.

One of the consequences is a trend towards

excessive conservatism towards such key issuesas curriculum design as ranking methodologiesbecome internalised within schools.

Researchers argue that rankings retain theirpopularity and wide diffusion because, despitepossible faculty objections, they in some way“discipline” individuals within business schools.

While this may have some validity, I personallyprefer to look at which elements of rankingtables are of most relevance for students.

Business school deans have many strategicchoices and there are many opportunities tofollow novel strategic directions. However,research suggests that future growth andcompetitive advantage might be better achievedthrough the reassertion of national, regionaland local cultural characteristics.

A multi-polar world influences the variety ofmodels for management and managementeducation. This echoes the wider debate oncontextualising management education.

It also raises the question, as some researchersdid in Zurich, as to whether business schools areignoring the changes in the production andcodification of knowledge.

Especially regarding research, it can be arguedthat more global platforms are needed as wellas more partnerships between interdisciplinary

research teams. New types of “hybrid” knowledgemay prove to be a major enabler for innovationif the walls hindering interdepartmental researchcollaboration can be lowered.

We also need to continue to think deeply aboutthe ethical side of business and management,and especially the role here of managementeducation. Despite the common view that schoolshave introduced courses on ethics and valuesonly recently, in response to corporate scandals,they have in fact been part of MBA programmesand other areas of management education for

many years.

But business schools can do only so much.Ethical standards must be taught earlier.Standards and respect have to be taught fromthe kindergarten. If a four-year-old does notrespect principles, there is not much a businessschool can do later. It is hard to change theembedded values of someone who is 25 or 35.

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51EFMD Global Focus | Volume 06 | Issue 02 2012The business of business schools investigated by Eric Cornuel

ABOUT THE AUTHOR

Eric Cornuel is Director General and CEO of EFMD

Nevertheless, business schools should askthemselves about their methods of preparingtheir participants to become innovators, leaders,creators and so on.

In the context of a free economy, businessschools have a crucial role to play in optimisingthe way institutions, private as well as public, aremanaged, with the objective of ensuring the bestpossible level of growth and thereby, we allhope, a dramatic improvement in peoples’ lives.

In looking to the future EFMD wholeheartedlyendorses the conclusions put forward at theZurich conference by Howard Thomas, Dean ofLee Kong Chian School of Business at SingaporeManagement University.:

• First, more research is needed into the theoryof managing; is there a body of managementknowledge and what does it contain?

• Second, management education and businessschools must embrace theoretical pluralism:liberal education traditions will become more

common

•Third, the search for dynamic managerialcapabilities will continue and will influencedevelopments in business schools.

Finally, we know that technology will becomea more dominant influence on managementeducation. The conventional case study format maydie and it is to be expected that the influence oftraditional media will decline relative to digitaland social media.

The quest for future scenarios was ongoing during

the two days of the research conference in Zurich.Yet many issues are left to be addressed:innovation, mutual learning, the development ofthe next generation of teachers and managementeducation leaders, the contribution of businessand society, and internal hurdles to change.

It is a full agenda that EFMD will relish meeting.

Business schools should ask themselvesabout their methods of preparing their

participants to become innovators,leaders, creators and so on

The first EFMD Higher Education

Research Conference took place at

The Lorange Institute of Business

in Zurich, Switzerland, from

February 14 /15 2012.

The main speakers, whose research

work and that of their colleagues

informs this article, included:

Jon Billsberry

Deakin University, Australia

Stéphanie Dameron

Paris Dauphine University, France

Jürgen Enders

CHEPS (University of Twente),

the Netherlands

Fernando Fragueiro

IAE Business School, Argentina

Ulrich Hommel

EFMD and EBS Business School,

Germany

Peter Lorange

The Lorange Institute, Switzerland

Peter McKiernan

Strathclyde Business School,

University of Strathclyde, UK

Andrew Pettigrew

Saïd Business School

University of Oxford, UK

JC Spender

ESADE and LUSEM

Spain and SwedenKen Starkey

Nottingham University

Business School, UK

Howard Thomas

Lee Kong Chian School

of Business at Singapore

Management University,

Singapore

David Wilson

University of Warwick, UK

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SDA BOCCONI LINKS MILAN AND MUMBAI

milamumbai fusion

In July SDA Bocconi, the leading Italian business school, will open a new schoolin Mumbai, India. Stefano Caselli explains how the partnership to create

the school came about and how it is likely to develop in the future

n

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53EFMD Global Focus | Volume 06 | Issue 02 2012Milan Mumbai fusion: SDA Bocconi links Milan and Mumabai By Stefano Caselli

SDA Bocconi started exploring the opportunity of launching anew venture outside Italy some years ago when an internaltask force identified several concrete overseas options.

Those options were wide as the school has excellentinternational exposure in many countries around the world. However,the choice went to India and specifically Mumbai. The rationale behindthe decision was to launch a new strategy in a well-known country. Inother words, SDA Bocconi’s entry into the Indian market is based on twostrong pillars: in-depth research and strategic analysis and an existingstrong network inside the country.

SDA Bocconi has been working outside Italy for many years, bothrecruiting candidates eligible for its MBA programme in Milan andlaunching executive programmes tailor made for corporations,financial intermediaries and public administrations.

India represents a further and relevant step to enlarge significantlyits presence in the Asiatic region, based on the strong fundamentalsof India. Expected GDP growth, a strong entrepreneurial background,impressive numbers of students demanding high-quality education,and demographic and social trends are the key drivers of India’seducational attractiveness.

For many years SDA Bocconi and Università Bocconi have been buildinga relevant presence in the Indian market through several activities,including double-degree alliances, exchange programmes with leadingschools, recruiting for all educational programmes held in Milan andopening a representative office in Mumbai.

This liaison with the Indian market is a fundamental requirement tostarting the new venture, named MISB Bocconi, but the cultural linksand strong similarities between Milan and Mumbai are even morefundamental to creating a successful venture.

Milan is a city that represents a blend of culture, business and financeand Mumbai is the same; furthermore, Milan is an incredible platformto leverage people towards Europe and Mumbai is an incredible platform

to leverage people towards India and Asia.

In addition, some characteristics of the economic system promotethese similarities between the two cities. For example, the presenceand importance of family businesses, the large number of SMEs, thelarge retail banking system and the transition from state control to anopen market.

2SDA Bocconi’s entry

into the Indian market

is based on two strong

pillars: in-depthresearch and strategic

analysis and an existing

strong network inside

the country

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• Respectful of the Indian culture because

the project is based on the creationof a mixed faculty where SDA Bocconiprofessors will work together with newlyrecruited Indian faculty staying in Mumbaiand in India. For that, a strong commitmentfrom SDA Bocconi faculty to devote aportion of their life to stay in Mumbaifor MISB is a prerequisite for an effectivepresence and a guarantee of quality.

The MISB adventure will start on July 2,launching the PGPB, a full-time programmedelivering top-class management education.The first edition will end in spring 2014.

The programme aims to build responsible,reliable and effective business leaders.It gives participants the chance to start asuccessful career or to enhance their workexperience by nurturing personal growthand fostering professional development.

It offers the experience, the internationaloutlook and the multicultural environmentessential for an international career in aglobal economy. The combination of theory

and practice encourages students to havea creative and problem-solving approach;the international exposure educates themto succeed at a local and global level as wellas to have a grasp of cultural intricacies.

In a nutshell, MISB will educate peopleto combine strong Indian roots and Indianculture with a global view.

To meet the characteristics of the Indianmarket, the PGPB is devoted to studentsexiting college and having only limited work

experience, ranging between a couple ofmonths and one to two years.

This positioning is related to the fact thatstudents leaving colleges have a strong buttheoretical knowledge – in many cases inthe economic and managerial disciplines

Within this context it is necessary to highlight

that a further relevant factor to enhancingthe decision and willingness to go throughwith the new venture has also been thepresence of energetic and gifted Indianentrepreneurs who have co-operated withSDA Bocconi to create MISB and, amongthem, a SDA Bocconi MBA alumnus willingto give something back to the alma mater.

This co-operation with Indian partners hasproduced a lot of value and provided a bridgebetween SDA Bocconi’s view of the Indianmarket and the culture and framework ofthe Indian business community and societyin general.

MISB Bocconi represents the first step inestablishing a long-term presence for SDABocconi in India. The creation together withIndian partners of a new school located inMumbai aims to provide a solid, innovativeand concrete presence respectful of theIndian culture.

• Solid because of the benefit of the wideand robust expertise of SDA Bocconi facultythat has been built through many years ofinternational teaching and research.

• Innovative for the idea of positioningthe school as a dynamic bridge betweenstudents, faculty and corporations,continuously sharing their energies,needs and experiences in the very heartof Mumbai, following the concept of an“urban campus” as SDA Bocconi hasbeen for 40 years in the heart of Milan.

• Concrete because the start-up of the

school is based on a single programme,the Post Graduate Program in Business(PGPB), to focus all the effort on oneexcellent course before progressivelybuilding a larger portfolio as the communityaround the school becomes larger.

40The principle behind

the venture in Mumbai

will follow the conceptof an “urban campus”

as SDA Bocconi has

been for 40 years in

the heart of Milan

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ABOUT THE AUTHOR

Stefano Caselli is a professor of banking and finance at SDABocconi and project leader of MISB Bocconi.

Milan Mumbai fusion: SDA Bocconi links Milan and Mumabai By Stefano Caselli

– and their ambition is to enter the world of

business as managers or to start their owncompanies. The latter is strongly supportedby MISB.

The PGPB programme draws heavily on thecurriculum, research outputs, faculty andexperience of SDA Bocconi. It is an innovativemix of lectures, international experiences andconnections with industry where the key words areintensity, connection and international exposure.

PGPB is an intensive academic programmecovering all the business management

fundamentals in over 1,000 class hours movingfrom the fundamentals of management andentrepreneurship to a wide portfolio of electivecourses in specific tracks and fields.

PGPB has a strong connection with the corporateworld supported by a compulsory internship/summer project, the Corporate Connect sessions(which are mainly group works with companies)and the on-campus Placement Event and theCareer Commencement School (CCS).

The CCS is an innovative format. In the last twomonths of the programme, courses are designedand delivered together with practitioners whointeract continuously with students and recruitthem for jobs.

For this reason, a strong network of corporateand financial institutions surrounds MISB toensure strong relationship with the businessand financial community.

Finally, PGPB offers an intensive internationalexposure through the Campus Abroadprogramme (a one-month summer programmein several different destinations in North America

and Asia) and an exchange semester in Milan tolink the MISB and SDA Bocconi communities.

In a nutshell, MISB will educate people to combine strong Indianroots and Indian culture witha global view

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Employee training and developmentis essential. But how can companies

ensure it is effective and worthwhile?

Lindsay Ryan provides some guidelines

IMPROVING THE IMPACT OFCORPORATE EDUCATION PROGRAMMES

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57EFMD Global Focus | Volume 06 | Issue 02 2012High Impact: Improving the Impact of Corporate Education Programmes by Lindsay Ryan

M

ost organisationsrealise they needto spend money onemployee training

and development but few of themoptimise their programmes andreturn on training expenditure.

Even organisations among thosehighly regarded for investing in theiremployees admit privately there ismore they could do to make theiremployee learning and developmentprogrammes more effective.

As with most things, the better theupfront planning and preparation,the greater the impact and outcomes

from a corporate education programme.

With appropriate planning, an effectivecorporate education programme canplay an integral role in helping anorganisation achieve its strategic goalsas well as

• retain existing employees

• attract new employees

• develop the skills and capabilities ofemployees as well as the organisationas a whole

• develop and facilitate successionplanning

• facilitate innovation and ideas fornew products, services, customersand processes.

Rather than being reactive in deliveringcorporate education and trainingprogrammes, a more measurableand effective outcome will beachieved by being strategic duringthe planning stage.

A strategic approachto corporate education

When approaching corporate educationand employee training from a strategic

perspective, the starting point is todetermine an organisation’s strategicdirection and goals over the forthcomingthree years.

From these goals, the organisationneeds to explore scenarios of possiblefuture requirements and issues theorganisation may have to contend withand the range of knowledge, skills andcapabilities it needs to succeed in thesedifferent scenarios.

With most advanced economiesexperiencing an ageing workforceorganisations need increasingly todevelop their future leaders andcapabilities from within. As such,organisations need to step up theirpreparation and implement successionplans for key leadership and operationalroles with an emphasis on developingthe skills and capabilities of peoplewithin the organisation.

Employee learning and developmentneeds to be treated as a strategicinvestment and all expenditure oncorporate education programmesshould align with the goals andstrategic direction of an organisation.

To ensure the most effective outcomesfrom corporate education and trainingprogrammes it is important to securethe support of the CEO, seniormanagers and line managers.Therefore, when a training proposal isdeveloped it should be presented as a

business case so that key stakeholderscan better understand and beencouraged to support the proposedprogramme.

A business case does not need to bea complex document. Instead, a concisepaper can provide a context and thereasoning for a particular programmeand its link to the organisation’sstrategic goals.

With appropriate planning an effectivecorporate education programme can playan integral role in helping an organisationachieve its strategic goals

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A business case of one or two pages canoutline

• the learning objective/s

• reasons for the programme, includingnew knowledge or skills required orcurrent skills gaps

• implications if the programme doesnot proceed

• budget, timeframe and any specialresources required

• key stakeholder involvement,including CEO, executivesand/or line manager/s

• expected outcomes, includingestimated return on traininginvestment

• how the programme will be evaluated

Line managers’ role incorporate education

A study by KnowledgeAdvisers in theUS (“Scrap learning and managerengagement”, Chief Learning Officer ,29 March 2011) found that afterparticipating in a training programmeonly 9% of people actually applied whatthey learned with positive results. Overthree-quarters of participants applied50% or less of what they learned.

The study found that participants fallinto three categories:

• Participants make no attemptto apply what they learn

• Participants attempt to apply theirlearning but with no worthwhile

results• Participants apply what they have

learned and get some positive results

KnowledgeAdvisers claims the successof any corporate education and trainingprogramme starts with the linemanager.

The line manager needs to considerthe case for training:

• Assessing the suitability of eachemployee to attend a specific

programme• Determining whether the timing

is right for each employee

• Meeting with each employee and jointly establishing an expectedlearning and performance outcomeand an action plan describing howthe outcomes can be achieved

• Assisting employees to preparefor the learning event

After a training event, the managershould meet with each employee

to review his or her action plan andprovide feedback on the employee’sperformance.

KnowledgeAdvisers emphasises theimportance of a pre-training meetingand action plan developed jointlybetween the line manager and theemployee. Without the plan, theoutcome is likely to be a low return oninvestment as there is no context for thetraining programme and no adequatemeans of determining the outcome.

9% A study by KnowledgeAdvisers in the US found

that after participating in a training programme

only 9% of people actually applied what they

learned with positive results...

50%... but over three-quarters of participants applied

50% or less of what they learned

CEOs want more tangibleinformation about the impacta programme has on theiremployees and the organisation

The success of anycorporate educationand training

programme starts

with the line manager

7/21/2019 Volume 06 _ Issue 02 2012


59EFMD Global Focus | Volume 06 | Issue 02 2012High Impact: Improving the Impact of Corporate Education Programmes by Lindsay Ryan

Evaluating corporateeducation programmes

While most corporate education andtraining programmes receive someform of evaluation, CEOs increasinglywant more than traditional informationsuch as the number of employees whoattended a programme, how manycompleted it, the overall satisfactionwith the programme and, sometimes,feedback on the venue and/or catering.

This information does not help CEOsto see the value they are gettingfrom investing in the learning anddevelopment of employees. Instead,CEOs want more tangible informationabout the impact a programme has ontheir employees and the organisation.

In 1959 Donald Kirkpatrick introducedhis four-level evaluation model:Reaction, Learning, Behaviour andResults. Most organisations woulduse at least part of the Kirkpatrickmodel to evaluate their corporateeducation programmes, especiallylevels one and two.

Dr Jack Phillips built on Kirkpatrick’smodel with the Phillips ROI (Returnon Investment) evaluation. This

incorporated evaluation planningprior to a programme followed by datacollection during a programme and dataanalysis at its end to compile a formalreport that measures a programme’simpact.

However, the ROI approach canbe time consuming and expensiverelative to the cost of a programmeand is mainly suited to bigger budget,strategic and highly visible corporateeducation programmes involving largenumbers of employees.

Success Case Method

The Success Case Method is anothermeans of evaluating corporateeducation programmes that is practicaland relatively low cost. The SuccessCase Method evaluation is based ona recognised and validated researchmethod developed by former universityprofessor Robert Brinkerhoff.

It involves all participants, or arepresentative sample of them,in a corporate education or trainingprogramme responding to aquantitative survey, usually online.

Ideally, an independent evaluator shouldfacilitate the survey so participants canrespond honestly and confidentially as

the survey asks for their name andcontact number for possible clarificationor exploration.

The quantitative survey usually revealsa standard distribution of responsesthat indicates most people gainedsome knowledge and applied someelements of a programme. However,there are usually people at the twoends of the responses: those whogained a considerable amount froma programme and are applying their

learning and those who claim theyfound the programme of no value orthey already knew all the programmecontent or they are not applying anylearning.

These two extreme clusters ofrespondents are then interviewed byan independent evaluator to explorethe factors that enabled or enhancedtheir learning experience and thebarriers that restricted their learningand the impact of the programme.

The Success Case Method broadensthe focus from an evaluation of aprogramme’s content and deliverymethod to an evaluation of howeffectively an organisation uses thelearning from it.

Often the high impact, or lack of impact,from a corporate education and trainingprogramme has little to do with theactual programme content, learningmaterials or facilitator.

A recent executive educationprogramme evaluation usingthe Success Case Method, found

• the learning and transfer ofknowledge is greater where theorganisation had provided or createdopportunities for employees to applytheir learning

• the sooner an employee is ableto apply their learning the greaterthe retention and use of their newknowledge and skills

• a key barrier to effective employeelearning is the lack of support fromtheir line manager.

The evaluation also identified the topicsand modules of least and most value tothe employees and how the employeesare applying their learning to their job.

The factors contributing to a successfulprogramme are then written into aseries of case studies for the CEO andsenior managers to provide specificexamples of how various employeesare applying their learning, how theprogramme has helped them in their

job, how it has enhanced their skills andknowledge, and how the programmehas had a positive impact on theorganisation.

Similarly, case studies are compiled thatidentify barriers to the application of thelearning in the organisation so the CEOand senior managers can take steps toalleviate those barriers in future

corporate education and trainingprogrammes.

ABOUT THE AUTHOR

Dr Lindsay Ryan is Director of Corporate Education Advisers, an Australia-based corporate learningconsultancy. He is the author of Corporate

Educat ion: A Practic al Gu ide to Effective Corpo rate Learn ing published by Griffin Press, Australia, 2010;ISBN 978-0-646- 52812-0. Dr Ryan is also VisitingFellow in Corporate Education with BirminghamCity Business School in Britain.

7/21/2019 Volume 06 _ Issue 02 2012



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