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Information S ECURIT Y
Leadership development Beyond business Entrepreneurship
The role of the Business School in Reintegrating morality Schools have an opportunity
building accelerated careers into capitalism to create start-up ecosystems
1 February 2019
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06 08 28 0
Research Beyond business
MBA career paths: Business Schools must
AMBA’s exclusive understand how they
Careers Research can contribute to the
investigates the wellbeing of society,
job prospects for adopting a proactive
Teaching cyber security
MBA graduates stance, writes Loïck
It's essential for Business Schools to analyse cyber risk
Roche, Director and
and prepare MBAs to protect their information
Dean at Grenoble École
20 0 de Management
Latin American Deans 32 0
A wealth of insight The building blocks of Latin America
from Deans and MBA accelerated leadership Views from top Deans across the
Directors from across development region on Business School strategy
Latin America, sheds In a fast-paced business
light on challenges and environment, MBAs must
opportunities in the learn how to accelerate
region and beyond leadership development
– their own and others’
08 0 Managing the
Why MBA workplace wellbeing
programmes should of millennials in a
teach more about transforming world
information security How do employers
It is now essential for attract and motivate
organisations to analyse today’s young people?
Millennial wellbeing
cyber risk and to get Linda Ronnie, from How do employers attract and
better at protecting their the University of Cape motivate today’s young people?
information – so MBAs Town’s Graduate School
must understand too of Business, introduces
14 0 the African philosophy
How Business Schools of ‘ubuntu’ to
drive entrepreneurship the workplace.
The challenge for Business Schools
Business Schools should
use new methods to Opinion
teach entrepreneurship 04 0
and build links Editor’s Letter
with entrepreneur 42
ecosystems, argues Guest column
Vicente Arregui Martínez The problem
de Lejarza, Executive with voluntourism:
Director, ESIC Business how ethical is
and Marketing School volunteering abroad? Developing leaders
MBAs must learn how to
accelerate leadership

Editor and Head
of Communications
David Woods-Hale

Art Editor
Sam Price

Deputy Art Editor

Ross McLaughlin

Cyber threat: one of the top global Sub-Editor

Sarah Wild

challenges of modern times? Digital Content and

Community Manager
Jack Villanueva
Have you paused to consider how many result of saturation of cyber security events and j.villanueva@
of the things in our daily lives are controlled can actually stop people responding positively
by machines? to the threat. Research and
Computers have infiltrated every aspect of Companies – and their employees – need Insight Manager
our lives, with one goal – to make things more to be tested on cyber security regularly. Of Will Dawes
comfortable. But the flip side of this new age of course, no business can ever be 100% secure;
4 enlightenment is that cyber threats lurk around remember – the attackers are always one step
every corner and that's created one of the top ahead, so organisatioins have to stay humble Communications and
global challenges of modern times. and keep their basic security measures in Insight Assistant
Kevin Lee-Simion
There is extensive coverage of security and check. But how does this impact Business k.lee-simion@
data breaches in mainstream and security Schools and MBA education?
press. Stories of cyber failure, ID theft and some In short, it is necessary for all business
very serious potential repercussions for national people to understand the basic structure of the Corporate
infrastructure, businesses and individuals are digital world, which includes the World Wide
regularly found on most media platforms. Web that is searchable through standard search Head of Commercial Relations
Jack Ingram
Some of the most interesting technologies engines, deep and dark webs. This is because
I could outline are deception technologies, such knowledge is a key tool to living life under
Senior Commercial Executive
artificial intelligence (AI)-based log analysis and digital conditions.
Emily Wall
attack pattern detection, threat intelligence Technology guides our choices, so MBAs
solutions, AI-based endpoint protection (and everyone else) need to be aware of this.
HR and Employer
solutions, and privileged account management. As Yannick Meiller writes in his cover Relations Manager
The most innovative ways of protecting a story (page 8) Business Schools have started Aarti Bhasin
business are usually reserved for organisations teaching digital transformation and the value
Head of Events
with a large security budget. Business created by information processing. However, Leah Carter
leaders would be wise to have continuity what about protecting the information they
Membership Manager
and crisis plans in place, assess their risks have created?
Tariro Masukume
and look towards the advanced innovations It's time for Business Schools to have difficult
that are being developed daily. But security discussions about data and and adequately Finance and
Commercial Director
professionals are all too aware that a breach or inform students about information security. Catherine Walker
cyber fatigue can cause a sort of inertia. It is a David Woods-Hale, Editor, AMBITION
Chief Executive Officer
Andrew Main Wilson

Executive Assistant to the CEO

Copyright 2018 by The Association of MBAs (AMBA). ISSN 2631-6382 All rights reserved. Material may not be reproduced without the permission of Amy Youngs
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accrediting just 2% of the world’s Business Schools.


MBA career paths: what

Which, if any, of the following are you
likely to do for your organisation as a
result of completing your programme

do graduates expect to be I am likely to make better

doing in the next few years?
business decisions

I am likely to make my teams

operate more efficiently 73%
AMBA’s exclusive Careers Research sheds light on the
I am likely to come up with
future job prospects for international MBA graduates. ideas and solutions which
Will Dawes reports 72%

change the way the organisation
works for the better

MBA’s latest research on able to impact directly on their organisation’s

I am likely to help the organisation
MBA careers provides fresh performance by thinking differently and being
be more efficient 71%
insights into how graduates solutions focused. Specifically, from a list of
view the next few years of several ways graduates could contribute to
I'm likely to make decisions which
their working lives developing. the organisation for which they work, more
The period in which AMBA has captured than seven in 10 said they are likely to:
consider the wider implications 66%
outside my organisation
these views – within the first two years of
each participant’s MBA graduation – is a time • improve operational efficiency I am likely to execute large-scale
when management professionals are most (73%) projects more effectively 58%
determined to make a step-change in their
6 careers; often defining, or re-defining, the
• innovate through coming up with I am likely to contribute towards a
rest of their working lives. In total, 1,591 MBA
more profitable business 58%
graduates completed an online survey to ideas and solutions that make their
explain how they expect to develop over the organisation work better (72%) I am likely to raise the profile of
next few years.
This study shines a light on this critical
issues relating to wider society 40%
• make the organisation more within my organisation
point in many graduates' careers, where their
career vision and drive is understandably most efficient (72%).
focused. As part of the survey, graduates
None of the above 2%
were able to reflect on how their learning The study also highlights how many recent
experience will influence what attributes they graduates are motivated to complete an MBA
take into their future roles within business. so they can trigger change in their careers. are likely to change sector in the next year,
The research also revisits some of the Almost half (48%) of all graduates believe they while almost a quarter (23%) do not know
traditional ways in which MBA paths have what they will do. Therefore only a minority
been assessed, by offering a fresh way of of MBAs wish to remain in the same sector
looking at MBA impact, in terms of their after they graduate. The chart on page 7
management mindset and implementation outlines the range of sectors into which
of skills, rather than potentially crude graduates see themselves moving.
measurements of MBA performance, such The most popular desired transition is into
as realised salaries. The study was designed consultancy (19%), although a wide range of
with more questions looking at values, as sectors were mentioned including banking
opposed to a focus on salaries and job roles, and financial services (8%), IT (6%), energy
in order to capture the contribution of MBAs. The study represents the (5%), healthcare (5%), consumer goods (5%),

first in a series of reports

For example, it looks at how graduates intend the not-for-profit sector (4%), marketing (4%)
to apply the skills they have developed from food and drink (3%), education (3%) and
their study and how confident they feel about looking at the views and government-related work (3%). This indicates
making an impact.
The results demonstrate that graduates
outlooks of recent MBA that graduates are not singularly motivated
to move into a small number of sectors,
largely see themselves as people who are but that they see themselves working

geography, lifestage, personal ambitions

and motivations, and other financial
opportunities which are independent of an
MBA programme, and do not relate to the
contribution of the MBA. AMBA’s study still
examined MBA salaries, but asked MBA
graduates to predict the real change in
their salaries as a resulting of their MBA.
Therefore, rather than crudely analysing
salaries, we are getting a more balanced
sense of how much financial impact recent
graduates believe their MBA will achieve.
This is not a perfect way of measuring
impact, but we believe it offers a different
and more transparent estimate of the MBA’s
contribution to the salaries of graduates.
During the survey, MBA graduates were
asked how much higher or lower a salary, as
a percentage change, they expected to be
paid in the future as a result of completing
their MBA, without factoring inflation. As
such, we were looking to measure the
Into which sector are you most likely to MBA’s real salary contribution. AMBA’s study
move within the next three years? across a broad spectrum of markets. indicates that graduates believe that their
The collection of salary data is fraught study will lead to a substantial increase in
with measurement accuracy issues, which their salary as a result of their MBA in the 7
are inherent when collecting data from near future. More than three quarters (78%)
Consultancy 19% dozens of different global currencies. Factors say that they predict that they will earn 20%
such as constant fluctuations in inflation more in the next three years and half (50%)
rates, currency conversions and multiple- expect to earn at least 50% more within the
Banking / financial services 8%
currency income streams will always offer same timeframe.
up uncertain, if not dubious, estimates. The findings suggest that graduates
IT 6% Further perceptual damage can be done believe MBAs will have a transformative
when using these estimates as a tool to impact on their salary earnings within the
assess an MBA’s performance or pertaining near future. The study also indicates that
Energy 5% to make a genuine measurement of an MBA’s even those who do not think they will be
contribution to salary growth. earning substantially more, still feel that
Healthcare 5% This is especially true when considering they will reap the benefits of an MBA and,
the economic performance of the region in crucially, that this will outweigh the financial
which the Business School is situated (i.e. the cost of completing one.
Consumer goods 5% local economy) in contributing to salaries. The benefits were seen to be borne out
Such estimates also imply that the salary in a range of ways, such as the utilisation
Charity / non-profit / NGO 4% movements over time are purely due to of improved mental resilience and
having studied for a particular MBA. There entrepreneurial attributes. These findings,
are numerous causal factors, such as age, among many others, are outlined in detailed
Marketing 4% within the main report.

Food and beverages 3% 'Only a minority of

The study represents the first in a series
MBAs wish to initially of reports looking at the views of MBA
Education 3% remain in the same sector graduates worldwide. The full report,

after they graduate’ outlining MBA career perceptions and

intentions, is available via
Government 3%


It is now essential for organisations to analyse cyber risk and to

get better at protecting their information – so MBAs must
understand how as well, writes Yannick Meiller


igital transformation is a vital aspect of all

companies’ strategies.
A few years ago, the ‘digital economy’
was viewed separately to its non-digital
counterpart – however, now our entire
economy has digital aspects.
The same applies to companies
themselves: all departments, at all levels,
are being digitally transformed. Of course,
the extent of the transformation, its intensity
and what is at stake varies depending on the
10 company, but a clear pattern has emerged:
everyone is going digital!
Digital transformation relies on the use of
information technologies which, as the name
suggests, process information. The aim of
digital transformation is to maximise the value
extracted from this information.
The more a company benefits from
information processing, the more valuable the
information becomes. However, the higher
the value of information, the higher the risk
attached to it. This includes the risk of losing
it, the risk of it being stolen and the risk of it
being corrupted by an aggressor. This is why
it’s essential that Business Schools and their
students analyse cyber risk, understand cyber
protection and teach people how to get
better at protecting their information.
successfully integrated into management car production and, in the UK, the NHS
LEARNING and business administration degree temporarily had to stop handling cases that
programmes here at ESCP Europe. were not deemed ‘critical’.
THE HARD WAY Digital transformation is also about the The global impact of this single attack
Business Schools have started teaching protection of this information, and of its was estimated at close to €2bn. The average
digital transformation and the value created value. It is dangerous to create value from cost of a cyber attack, in 2017, was estimated
by information processing. However, what data without protecting it first. Past events at $11.7m by Accenture’s 2018 Cost of
about protecting the information they have taught us this lesson the hard way. Cybercrime study. There has been a lot
have created? In 2017, the ‘Wannacry’ ransomware attack discussion about the details of these figures.
Digital transformation is about value hit thousands of organisations worldwide. However, the point is that they are high and
creation based on information processing. The virus, which demanded ransom pose a serious threat to any business.
We understand this and it has been payments, meant that Renault had to halt Because of these threats, every


‘Every organisation creating organisation creating value out of

value out of information

information should make sure they are
protecting it. Creating value out of data
should make sure they are is acknowledged as being a specialist

protecting it’ management task, but what about

protecting this information?
There is a strong temptation to leave
information protection to the ‘IT experts’.
After all, ‘cyber protection’ and ‘cyber risk’
sound so ‘cyber’, there is a misconception
it must be a technological matter.
This is a flawed opinion. ‘Information

protection’, or ‘information security’ should

be part of ‘information system protection’.
An information system is made of three
components: information technology, the
organisation and the employees. As you can
see, the technological aspect is only part
of the picture. Organisations and people
are both legitimate management issues.
Therefore, a good manager should now be
able to contribute to information protection.

‘There is a strong
temptation to leave
information protection
to the IT experts’

Let’s explore further the role of managers in
12 information protection.
First, only managers can evaluate the
value of information in a given context, so
information security should therefore be
adapted to the actual risks. What is at stake?
What if this data is accessed by competitors?
What is the impact and cost to the business
if data is stolen?
Are the consequences the same if
the institutional website of a university Third, the main threat to an organisation, their organisations, which is why Business
is inaccessible for one day and the as far as information security is concerned, Schools must know this and why they are
e-commerce website of a large online comes from the behaviour of its employees. important. While there are Business School
retailer becomes inaccessible for one day? I am not talking about intentional actions students who are fully aware of the risks of a
When a partnership involving the perpetrated against the interests of the cyber attack and know how to protect their
exchange of information is negotiated, what company. On the contrary, this is about data, they remain in the minority.
are its implications on the level of security innocent employees whose behaviour puts
and what do we have to implement in order the company at risk: from writing passwords
to protect the partner’s information? on sticky notes to accidentally giving away MANAGERS IN DENIAL
Second, the structure of the organisation confidential information – or just by not In 2018, ESCP Europe asked several questions
plays a major role in protecting information. backing up their data. about information security to a small group
The so-called ‘CEO fraud’ relies on the flaws The first thing to do to improve of executive MBA students. The size of the
of the organisation. CEO fraud will typically information protection is to raise awareness group was too small to derive any statistical
start with an email being sent from a fraudster about the risks and potential consequences generalisation, but still, it gives some
to a member of staff in a company’s finance of a cyber-attack. Managers have a major interesting indications: 7% of participants
department. The member of staff will be told role to play in this. They are the only ones believed there was no threat of attack
by the fraudster to transfer money immediately who can encourage good behaviour. targeting information. The good news is that
to a certain bank account for a specific reason. Installing antiviruses, firewall or encryption the majority of those surveyed were aware of
There is nothing high-tech here; it is simply tools helps with information security, but it the threat.
someone pretending to be the CEO and doesn’t change human behaviour. However, the 7% in denial about any
demanding money, but surprisingly, it works. Managers need to know how to protect cyber attack were managers. Even worse,

half of them declared that it would not be Should risk analysis and information security more and more business models. Big data,
worthwhile targeting them for information. be integrated in every course? Should data analytics, and machine learning are
They seemed to have forgotten that they value creation out of information and all reinforcing this. When we think of what
had access to their companies’ information protection of this value be taught together tomorrow’s business and tomorrow’s society
systems where sensitive information could or on separate courses? will be like, information privacy is central
be found. All of them also stated that they Currently, most MBA programmes lag to that.
worked on their laptops while travelling. behind, as far as information security is Interestingly, different cultures have
One might assume that this emerging concerned. Therefore, the priority is to different ideas about information privacy.
generation of managers would be more increase the exposure to information security This makes it an interesting subject when
aware of cyber-security issues, being ‘digital on MBA programmes. dealing with multicultural management in
natives’. Unfortunately, being ‘digitally- Business Schools. Europe is leading the way
native’ doesn’t necessarily equate to being INFORMATION PRIVACY with General Data Protection Regulation
‘digitally literate’. In fact, because members (GDPR) and many argue that this new legal
of this generation uses internet data as part Information security overlaps with another key framework will change how businesses
of their leisure activities, they seem less able subject: information privacy. In business-to- operate. These differences are always a
to understand the constraints and dangers consumer businesses, information privacy is source of rich discussions especially with
of data security within a company. In the a central issue of digital transformation. At an international students.
same group of executive MBA students, half individual level, everyone should protect their For now, we will continue these
of them complained that the information personal information – evaluating what has discussions and teach our students about
security measures implemented by their to be kept confidential and what should be information security. Here at ESCP Europe,
managers just slowed them down. done to guarantee its confidentiality. we have integrated a standalone course
Also, it raises societal questions. For these about ‘Protecting the Value of Digital
TOOLS TO reasons, it makes sense to teach information Information’ into our Executive MBA. More
protection and information privacy together. Business Schools and companies should
REDUCE CYBERCRIME The latter subject may even be more follow in our footsteps.
Once managers understand the attractive to students and therefore be a 13
consequences of nfailing to protect their good entry point. Yannick Meiller is Assistant Professor of
data, they should learn a couple of simple Information privacy and the way it is Information and Operations Management
methods to help stop cybercrime. They perceived by consumers is a key issue for at ESCP Europe.
should also be informed of good practices
for improving the level of awareness and the
level of contribution of their teams.

‘The main threat, as far

as information security
is concerned, comes
from the behaviour of

The goal is not to train cyber-security

experts, but to ensure managers can
understand and manage the information
protection part of their business, involving
experts when needed. To be in charge of
digital transformation, managers have to grasp
both value creation and value protection.
How to integrate these aspects in a
management curriculum raises the usual
questions related to digital transformation.
Should a standalone course be set up?


How Business
drive entrepre


Business Schools must use new methods to teach entrepreneurship
and build links with entrepreneur ecosystems, argues Vicente Arregui
Martínez de Lejarza, Executive Director of ESIC Entrepreneurs, ESIC
Business and Marketing School

have continued to adapt to the needs of and commercial relations, and globalisation
society at every stage of its development. have created a world which requires its
And, although the Business School sector people, businesses and organisations to
has not been homogenous in its principles, have capabilities and competencies to
nor in its solutions, it is agreed that there is a make effective decisions in an uncertain
need to deepen its humanistic aspects and climate. Innovation and entrepreneurship
etiquette. Business Schools offer students must receive attention as a priority now
more than just employability, developing in and in the future.
them the ability to address the challenges The rate of change, the impact of the
of modern society, globalisation, innovation most disruptive techniques and the digital
and sustainability. explosion in our economy, as well as
emerging relationship and consumption
THE RATE OF CHANGE models, mean that entrepreneurship is key
AND DISRUPTION in identifying new markets and creating
Continuing technological advances, fresh opportunities that add value and offer
particularly the internet; changes in solutions for businesses and societies alike.
he basic objective of a Business School economic structures; modifications in worker
is to train talented professionals to lead INNOVATION
businesses and organisations that will Innovation has become a decisive factor for
contribute to a better society. Teaching and the growth and survival of organisations.
research are central to what they do. In the words of the late management guru
Since Business Schools began to be Peter Drucker, innovation is the ‘specific tool
formed, at the end of the 19th century, they of entrepreneurs; the means by which they
exploit change as an opportunity’.
This growth-centred model of
16 entrepreneurship and innovation will
remain viable if we focus on our people
and their training. Today, people’s talent is
the competitive factor, debunking physical
resources, which is different from the times
of the industrial revolution.
Entrepreneurial initiative is demonstrated
in different ways: creating new organisations;
innovating at the heart of companies;
acquiring businesses; and relating to family
businesses, for example.
Whatever the case, Business Schools
have to respond to both their prospective
investors or co-investors in their companies,
which show a potential for growth, as
well as to the professionals involved,
either directly or indirectly, in joint
corporate entrepreneurship.

‘Entrepreneurship is
what will grow and
transform the economy,
and it must inevitably
be taught as a
stand alone discipline
in Business Schools’

Traditionally, entrepreneurship has been

seen as a linear, predictable process, that
‘Entrepreneurship begins with identifying an opportunity,
is a practice like law developing an idea, acquiring the resources,

and botany that can

building and implementing a business plan
and managing the new venture. Training has
be learned’ been centred around the different disciplines
needed to manage each stage of the
process: marketing, legal aspects, logistics,
human resources and finance.
While these theoretical concepts are
still valid and necessary, it is essential to
incorporate skills training that allows the
student, in their role as entrepreneur, to
navigate an uncertain and changing reality, a
reality that requires them to make decisions
with little data, a creative approach, a
high level of autonomy and the ability to
communicate and work as part of a team.
These are the skills that will arm them with
the power to live and work with change.
Developing and training people in these
skills involves a fresh model of teaching
which puts practice at the heart of any
formative programme. While supporting
theory, this new model must enable practical 17
experience and on-the-job training.
Entrepreneurship is a practice, like law and
botany, that can be learned.

Business Schools have to assure that their
students think and act like entrepreneurs,
Economies based on innovation, that are ‘Innovation and following US academic and entrepreneurial
in a solid economic position, have the ability
to engage in higher levels of joint ventures.
entrepreneurship must Jeffry Timmons’ approach. Timmons says:
‘Entrepreneurship is not just about new
Companies are looking for innovation receive preferential attention companies, capital, and job formation, nor
wherever it is generated, mobilising internal now and in the future’ innovation, nor creativity, nor breakthroughs.
talent or developing open innovation It is also about fostering an ingenious human
models. They require people who are spirit and improving humankind.’
capable of innovating, identifying or Training programmes for launching
creating new opportunities and generating One widely accepted idea is that start-ups and innovative projects require
added value. the business person/entrepreneur is specific techniques and tools, since students
not born but made. As Drucker said: often don’t have any prior experience, nor
ADOPTING THE ROLE ‘Entrepreneurship is not magic, it is a do they know the business models on
OF ENTREPRENEUR discipline that can be learned’; a Business which they are based. Because of this,
The professionals of today and tomorrow School is the place to teach it. Business Schools need to re-orientate
must be capable of taking on the role of and widen their entrepreneurship and
entrepreneur, managing and teaching the TEACHING AND innovation programmes.
skills that allow them to cope with a world LEARNING ENTREPRENEURSHIP Experimentation, testing, knowledge and
which is difficult to predict. You can learn to learn, but teaching collaboration are all terms that feature in
Entrepreneurship is what will grow entrepreneurship is different from entrepreneurial apprenticeships, and this
and transform the economy, and it must teaching other disciplines such as finance or means that error testing is normal when
inevitably be taught as a standalone marketing – and the methods need to designing and executing these activities
discipline in Business Schools. differ too. and programmes.

‘Business Schools
must be capable
of pushing their
students to check
their hypotheses
in the real market’


Checking the product or service within the

'Economies based on points for all activity that relates to this area

innovation, that are in a solid

market is fundamental to the development of study. These units allow them to be more
of the business model and that is where efficient in their formative and investigative
Business Schools can make the difference, economic position, have the work, and to reinforce their role in the
demonstrating the reality of business. They
must be capable of pushing their students
ability to engage in higher entrepreneurial ecosystem, contributing to
the development of a more entrepreneurial
to check their hypotheses in the real market, levels of joint ventures' society along with its other agents,
breaking through the barriers of the purely institutions and social groups. The campaign
academic, making sure that their projects focus is to create an entrepreneurship and
transition from the classroom out into the opportunities, allowing them to innovation culture within Schools and to
streets by talking to their clients. feel confident in a changing and attract new projects. Another challenge
Business Schools must continue to reflect unpredictable market. facing Schools that have these units is finding
on how to integrate theory and analysis Alongside the task of teaching, the ways of financing and sustaining them in the
tools, evaluation and management, with research side of a Business School allows long term, by means of contributions from
the acquisition of skills. They must learn students to deepen their entrepreneurial businesses, successful entrepreneurs.
how to teach students to take on the role studies and all the related variables, as they These centres, or entrepreneurship
of entrepreneur when developing their real, would in a scientific field of study. units, design and execute formative
professional project. programmes, and direct support services
It is not about encouraging and pushing CORPORATE STRATEGY for entrepreneurial projects, research and
your students towards creating their The inclusion of entrepreneurship in a activities that feed the entrepreneurial culture,
own businesses, but turning them into Business School’s corporate strategy will coordination with other areas, and so on.
entrepreneurs when developing their reflect its level of commitment, and will An important component of being a
professional plans or putting their work into be limited to establishing plans, assigning successful entrepreneur is having a high level
practice within their organisations. Students resources and setting indices to track. of collaboration and co-operative spirit. The
are looking for training that stimulates them Many Business Schools rely on centres or likelihood of any entrepreneurial project
and builds their abilities to identify/create units of entrepreneurship that are reference succeeding increases with the strength of


Entrepreneurship is not limited to the
world of business. Companies, public
administration and social organisations
are also immersed in the transformational
process in which innovation is especially
relevant. As such, they require capable
professionals to lead and manage them.
Creating an innovative society is a global
and collaborative project. Business Schools
have a responsibility to society, and they
require a fluid dialogue and collaboration
with the community, businesses, institutions,
social organisations, public administration
and so on. Incorporating innovation as a
priority and entrepreneurship as a work
discipline unveils a new path to transform
the people and fabric of the business and
society itself.
There is no doubt that innovation and
entrepreneurship are key tools for social
transformation, and can serve to improve
living conditions for large numbers of the
population. They are effective means and
offer an opportunity for Business School 19
students with social interests to play a part
in the search for solutions to social,
economic and environmental issues
its promotional team and the support of its that affect the world.
stakeholders, who facilitate the resources Knowledge and experience within
and activities towards which they are professional training is something that
directed, helping in the recruitment process, Business Schools must make available
exchanging ideas with experts or other to both people and organisations. The
entrepreneurs, searching for associates, collaboration between Schools and other
investors or potential partners, all of agents in the field, will result in improved
which benefit positively from the formative and investigative programmes,
entrepreneurship initiative. designs, or new service offerings.
Entrepreneur support, as well as The whole entrepreneurial
assessment and mentoring, all play an ecosystem is sure to benefit. Hunting for
important role in physically working with innovative ways of collaborating with the
colleagues, and growth. This enables entrepreneurial ecosystem is the challenge
students to network and meet other agents for the next few years.
in the entrepreneurial ecosystem. I assure you that Business Schools are
driving entrepreneurship, but in turn,
entrepreneurship and innovation have

'You can learn to learn, but

become a necessary driver for those
same Business Schools to continue to be
teaching entrepreneurship is the leaders in professional training that

different from teaching other businesses and society demand.

disciplines such as finance or Vicente Arregui Martínez de Lejarza is

marketing – and the methods Executive Director of ESIC Entrepreneurs,
ESIC Business and Marketing School.
need to differ too'

Exploring Business Schools’

We share insights from leading Business School professors who
attended AMBA’s Latin America Conference in Buenos Aires, Argentina,
about their Schools’ current strategies, challenges and opportunities.
Interviews by Jack Villanueva


Alejandra Falco, Strategic Management Ignacio Alperín, Professor of open and think laterally. If the education
Professor, Universidad del CEMA Creativity and Innovation, system can change enough, many of the
Pontificia Universidad Católica problems we face today will be gone
What challenges do teachers, instructors because people will come up line already
and professors face when using online How is business thinking changing living their creative ability throughout
technologies in their courses? around creativity? their careers.
The main challenge is to understand that Creativity is a process that involves more
teaching online is not the same thing than one person, it is never an individual In your role, are you trying to unlock
as teaching face to face. You have to think idea; it is a communal kind of work. existing creativity or teach the creativity?
about the course and your class in a different Creativity is the step prior to innovation. It’s a bit of both. When I find a master’s
way. When you teach face to face, you Creativity is putting together the correct class with 30 students, most of them are
are between the student and the materials ideas, innovation is putting together the professional people. They think they know
so you can see what’s going on in the class, correct product or service and making it everything and have already made it, and in
you can see the reactions of the students happen in real life. some respects they are right.
to what you are saying and the material Every company expects their graduate or They will be future leaders, but it’s
you are using. This does not happen in postgraduate students to be open to the sometimes difficult to tell them: ‘I am
the online environment so you can’t make idea of being creative, working in a different teaching you and I don’t know everything;
decisions on the spot. way, of accepting different manners of perhaps you should relax a bit and question
Schools need to help instructors work ethics that are not traditional. This yourself about the facts you thought
understand that [online learning] is not only involves those who come in to were correct.’
different [to classroom learning] and work for a company, it has a lot to do By unlocking that vault they will find
make sure that they don’t reproduce what with leadership as well. another Pandora’s Box of issues and
they do face to face in an online Perhaps there is an issue with expectations problems, but if they learn how to handle
environment. It needs a transformation. versus what actually happens in companies. them, they may find a way to make their work
There are too many bosses and too few more effective, their company profitable,
22 leaders. There are a lot of people who tell their life more exciting and more enjoyable;

‘The challenge we face

you what to do but very few people who they may go home and feel like having fun
inspire others to do things. In that regard, with family instead of taking their troubles
in an online environment creative leadership is also a major subject with them and feeling miserable when they’re

is to foster learner-to- and companies are slowly coming around

to the idea that they need to change their
not at work.
Part of my job is unlocking those talents,
learner interaction’ leadership style. it has to do a lot with people’s fear of being
wrong in front of other people. After that, we
Do you think Business Schools are teach processes, ideas and concepts
In terms of the online MBA and sufficiently inspiring to instil creativity that can help students unleash creativity
studying from distance, do you think the in their students? in themselves and the people with whom
experience, learning and the outcome for When we’re children, we’re extremely they work.
these students is the same as for those creative and we don’t have limits. We like Is it the Business School’s responsibility to
who learn face to face? to explore and ask about everything. In lead students towards an uncertain path?
It’s an interesting question because the Schools as it stands, the creative spirit is Many students believe the world is divided
challenge we face in an online environment squashed by a system that requires students into creative and non-creative people.
is to foster learner-to-learner interaction. to be right or wrong. We try to erase all this and explain we are
It is easy to interact between instructor Creativity is a gift and should be all creative – different types of creative but
and learner, but the challenge is the developed like any other talent. We have all all creative.
learner-to-learner interaction. been provided with the talent of creativity
There is something that happens naturally but when people get to university or Master’s Sebastián Auguste, Director Executive
in a face to face environment, so if we can level, they have been kept so far away from MBA, Universidad Torcuato Di Tella
manage this interaction adequately and their creative juices and, in many cases, it is
develop tools to allow the students to very difficult to bring them back in touch with What are your views on the current global
interact among themselves, the online option themselves and give them inner strength MBA market?
will be richer than the face-to-face option. If because creativity is a strength. The MBA is the most popular programme
we can have the same attributes in an online We are completely and constantly within the Business School: about 79% of
environment, we add much more flexibility improvising our lives. Companies, for a the applications we receive are for the MBA
for the student to choose when and how and long time, tended to squash this, but today, programme. Demand is growing in Asia,
where he or she wants to study. organisations realise that they need to be Europe and the US, and it’s increasing in


‘In Schools as it stands, the

creative spirit is squashed by a
system that requires students to
be right or wrong’


‘Especially in the
Latin American job
market, recruiters are
looking for “plug-
and-play” students’
Latin America. The full-time MBA is country with a lot of inequalities so it needs
declining and numbers are increasing to start with us.
in executive and part-time MBA
programmes. There is also strong How can Business Schools leverage an
demand for some Master’s degrees impact on society?
such as business analytics. All Business Schools have some sort of
social impact and development in their
How is the EMBA faring? value prepositions. Talking is one thing,
The EMBA is small but it’s growing in many leading by example is another. We need to
regions. Many students finish at university provoke students to think differently and to
graduate level and decide to do a speciality do differently. We need to provoke them to
such as a masters in analytics or finance, and really make a change. And it won’t be just
then they go for the MBA later when they’re about talking and showing them our mission.
older. Young people are trying to gain more It has to be in every single class we give, in
technical abilities; older people are trying to the projects that we send them on, it has to
gain more general skills. be included in all our initiatives.

How popular is the online MBA? How can Business Schools help students
The numbers show that the online MBA is have a more impactful role in the world
growing. I previously expected the number of tomorrow?
to grow, but the increase isn’t as great as I If you look at Business Schools, most of their
expected. There has been a strong increase students are from the upper portion of the
in the blended format, even in EMBA social pyramid and we need to show them
programmes. Online is coming very strongly how they can really make a difference – in
but I don’t see the online MBA replacing the every single class and in every single project.
experience of the EMBA or the part-time MBA. A lot of our students come to us because 25
You have to learn and you have to be there to they want management tools. They want
learn. It’s quite difficult to learn online. to increase profit in their corporations,
they want to better themselves in their
What’s the effect of specialist careers. And, from day one, they realise
programmes on the MBA and on we’re concerned about economic
Business Schools? development but we’re also very
Specialist programmes are going to relegate concerned about social development.
the [generalist] MBA. There is going to be a
fall in demand from young people wanting to Do you work with other Schools
do an MBA, but an increase in older people to push this idea forward?
wanting to do one. We have a partner we’ve been working
In Latin America, you have very technical with on modules and we’re putting an
and specialised degrees so there is less emphasis on that. But I think we can do
demand for special programmes. Many more. I’ve been talking a lot about that
universities are moving in this direction of [during this conference] with partners.
having more general graduate-level study, so We need stop considering ourselves as
you’ll need more specialisation later on. competitors [with other Business Schools]
and consider ourselves as ‘co-petitors’ and
Carla Adriana Arruda Vasseur, Associate cooperate more with each other.
Dean, FDC – Fundação Dom Cabra
Is it a case of starting locally or looking
Why do you think Business Schools should at the bigger picture and effecting
have a role in social development? change at the top?
We are the ones who are transforming the Begin with what’s feasible and build up.
leaders of our society. We are working with We’re starting to shape the leaders of
business managers, leaders, entrepreneurs, tomorrow. We’re starting with the students
company owners, and people who really run of today to [help them] have a deeper
the economy of the country. If we don’t have understanding of social development and
this kind of focus, we will continue to live in a a deeper understating that there are larger

problems in the world. But is there an issue especially relevant in certain contexts. That’s proactive, and have used this productivity to
with the bigger businesses themselves not what we do and this is the added value we actually do something within the context of
recognising it or not recognising it fast consider action learning has. This reflection their programme and learn something from
enough and therefore the student not having part is a very important role faculty have. that, it’s highly valued.
an outlet for what they want to do? One thing is to think about is how to How important is action learning in
A lot of the boards require their corporations evaluate a company in turbulence. Another fast-tracking understanding around the
to think about the social side. Some suppliers is to think how a company can actually use need for adaptability and evolution within
refuse to supply to organisations that don’t what it has – its resources – to transform its businesses? It’s like moving house. If you
care about these issues and clients are not strategy for much broader markets. Think don’t lay foundations in the MBA programme
buying from them. about internationalisation and the acquisition (which would be knowledge and analytical
We, as professors of business corporations, of companies in emerging markets, and then skills) it’s hard to start thinking about action
need to set the example. present this analysis to senior managers. learning in the first place.
You have to lay a solid foundation in the
Michel Hermans, Professor of Human Can students themselves better prepare first part of the programme and then build
Behaviour and Human Resources, IAE for their careers through action learning? on this with follow-up courses. That gives us,
Business School – Universidad Austral It depends on the student themselves. as faculty, the confidence that teams are able
Especially in the Latin American job to benefit from action leaning. We launch
How can Business Schools help students market, recruiters are looking for ‘plug-and- most of our projects towards the end of the
develop skills beyond the analytical tools play’ students so when they roll out of their programme because that’s when students
in the curriculum through action learning? programme they want students who need take advantage of the projects they are being
It’s not only about teaching rational decision little time to be fully functional within the offered that they themselves propose.
making. It’s about helping students anticipate context of their companies. We’ve seen many students use their action
risks and [influence] people who are If they are able to find students who are learning projects to move into new career


tracks or to find a different job in companies Business Schools have to rethink their Melani Machinea, Professor and
with whom they collaborated for their action value proposition massively. They must Business Development Director,
learning projects. consider how they are going to offer UTDT Business School
If you do a full-time MBA programme and something of vital importance to their
you are away from the job market for a full students to enable them to learn and access Tell us about the development of your
year, gaining contact with the job market the best faculties all over the world, offering specialised Master’s degree?
again – with employers and organisational a unique experience that blends the best A few years ago, we realised we didn’t have
life – is fundamental to a follow-up career. from the physical world and the digital an offering for recent graduates who wanted
world. to pursue a career in business. Either they had
Juan Pablo Manzuoli, Strategic Marketing It’s an enormous strategic and operational to do a Master’s in finance or they had to wait
Professor and Director of MBA, UCA challenge for universities. five or six years before they could do an MBA.
Business School Schools are transforming in terms At the same time, we discovered a need for
of content, so all the strategies and very specific skills, so we designed a Master’s
What do you consider to be the main management content required to lead in management which merges the two sides
disruptive trends students are facing? in the digital area is being added to of the story: business for those who come here
I have highlighted deep trends that are traditional content. They are also adding from a science background and, for those with
not often evident. For example, millennials a broader spectrum of elective courses to a business background the skill set they need
want the earth, but they don’t have special meet the specific needs of students. for the new corporate world.
powers. Loneliness is another powerful They are forming partnerships with We looked at the world. In Europe,
trend, as is self-exploration. industries, with other universities worldwide there were a lot masters in management
and with governments. programmes which were launched by Business
What’s next for the MBA? Schools, in addition to their MBAs which
We have to have a convergence between are still their flagship programme. In the US,
the needs of people and technology and we have seen the emergence of master’s in
make an improvement. Make things better. ‘Online is coming very business analytics programmes. We decided
strongly but I don’t see the
We need to adapt and be flexible in how we would have a competitive advantage if we 27
we think and in our business models. This could offer both management and analytics in
generation is teaching us how to make online MBA replacing the the same programme.
improvements in different ways not only with
the technology, but with emotions.
experience of the EMBA or The first challenge was the type of students
we wanted to sign up. We decided early on
the part-time MBA’ that we wanted recent graduates or people
Luciana Pagani, Professor of Strategy with little analytical experience who could learn
and Competitiveness, Saint Andrews about areas such as programming and coding
University through the courses that we were going to
They are also transforming their teach. When we launched, we realised that
How is the digital age transforming infrastructures in order to provide space for there were a lot of men in mid-to-higher
the MBA experience? innovation, creativity, and experimentation management, people with 10-15 years of
Changing behaviours in individuals as and they are working across platforms to experience, who said they were lacking this
learners, and technology, are providing collaborate, and to enhance their value expertise and wanted to do the degree. We
opportunities to deliver a different proposition, with the best faculty, the had to make a decision at this point and we
experience [to students], enabling people to best universities and the best companies decided to stick to our initial plan of targeting
access courses no matter where they are. as partners. younger professionals, while just offering short
courses for more mature professionals.
What challenges is the digital Do you think Business Schools rising to
age presenting to the way the challenges sufficiently quickly, given Do you think the MBA is evolving fast
Business Schools teach? the current economy? enough or do you think there is so much
The digital age is creating a new world of The challenge of the fourth industrial more that could be done?
opportunities for businesses, while also revolution is too aggressive for everyone. I think the MBA is still a flagship programme
causing a lot of pressure and setting very Universities are moving forward, but it in Business Schools, and the challenge is to
different type of challenges. Businesses need would be nicer if they could move faster. maintain and update it to make it relevant.
to change the way they lead. However, it’s not easy. Our hope is that our students from the Master’s
Technologies have to be implemented I hope the pace will increase and we in management and other programmes will
and customer experiences are transforming, will have more and more examples of come back in five or six years to do their MBAs
so at the company level, transformation is convergence to the new value proposition when they realise they need other skills related
amazing but very challenging. in the near future. to management and strategic leadership.


Business Schools must understand how they can contribute to the
wellbeing of society, adopting an active stance, writes Loïck Roche,
Director and Dean at Grenoble École de Management

n 11 December 2017, the then French
Minister of Environmental Transitions and
Solidarity, Nicolas Hulot, announced in a
speech, at the Medef Employer Federation
in Paris: ‘We [the French Government] are
going to help companies evolve in terms
of their social objectives, which can no
longer be limited to earning profits
without regard for working women and
men, and without consideration for
environmental consequences.’
His proposed French Pacte Law (action
plan for business growth and transformation)
was put forward, with the goal of helping to 29
‘reintegrate morality in capitalism’.
To ensure financial objectives better support of Virginia's Darden School of Business.
the greater good, the law will re-write two His theory suggests companies should
200-year-old articles in the French Civil Code not only consider their own interests but
(articles 1832 and 1833, see box overleaf). also the interests of all concerned parties
The articles redefine a company’s role as (employees, customers, stakeholders,
simply creating profit for shareholders. The leaders, and so on). This helps to improve
proposed modifications will integrate social the wellbeing of society. Corporate social
and environmental considerations. At the responsibility is an example that was born
time of AMBITION going to press, the law from the concrete application of
was to be voted on in autumn 2018 and its this approach.
primary actions could come into effect as
early as 2019.
But, taking this news out of the context of ‘Schools are preparing
and implementing a
the French arena, and into the wider global
economy, could this development suggest
that the era of the Chicago School and process of change to
one of its most noted economists Milton
Friedman – who coined the phrase ‘money
become Schools for
matters’ – is over? has a reason for existence.’ business for society’
This gives us, as Business School
A reason for existence leaders, the opportunity to position social
The step change outlined above looks set responsibility as the foundation for business. To implement these changes, and to
to take business thought back to 19th and The perspective that a company ensure companies accept that they must
20th century business magnate Henry Ford’s can no longer exist within a silo, but go beyond their mission (to manufacture
fundamental advice: ‘Business must be run instead must be part of the whole, builds products or deliver services) and participate
at a profit, else it will die. But when anyone on the stakeholder theory developed in a larger responsibility, Business Schools
tries to run a business solely for profit, then by R Edward Freeman, an American have a primary role to play as they
also the business must die, for it no longer philosopher and Professor at the University train future managers and leaders and

offer continuing education for working and implementing a process of change to complicated to implement because it’s a
professionals who are ready to question become ‘schools for business for society’. reversal of traditional values. For Business
their practices. It is a positive sign to see that what was Schools, it means that if we only carry out
once the perspective of a few has become our mission to offer training and support
Beyond the ‘usual goals’ a generally shared vision. While not all research we will miss our fundamental
of the Business School Business Schools are currently working in objective. And, if we miss this fundamental
The first step in taking on this new role, this way, they are all headed in the same objective, we will still be doing something
is to go beyond a Business School’s usual direction and that’s a great result. positive – but the current stakes are so
goals (for example ‘training the leaders of It might not seem like much, but there is much higher.
tomorrow’ or ‘ranking in the top 10, 20 or an important difference between saying ‘we In addition to working with students
30’) in order to ask: ‘why train the leaders want to train the leaders of tomorrow,’ and and companies, Business Schools have
of tomorrow?’, ‘what do the leaders of ‘we want to train the leaders of tomorrow to to offer a vision and solutions for major
tomorrow need to be able to do?’, and do something special’. global challenges (issues surrounding end
‘why attempt to be in the top 10, 20 or 30 It’s vital to understand that this concept of life, climate change, energy transition,
Business Schools?’ of doing ‘first, for society’ is, in fact, quite immigration crises, terrorism, epidemics,
The second step is a result of this corruption, child exploitation, human
exploration: in addition to working through rights, women’s rights, cybersecurity
these questions with students, professionals
‘This concept of doing "first, and artificial intelligence).

for society" is, in fact, quite

and employers, Business Schools have to
consider the bigger picture. The challenge for
Much like what is expected of companies, complicated to implement Business Schools

because it’s a reversal of

Business Schools have to understand how The mission is for Business Schools, and
they can contribute to the wellbeing of higher education in general, to continue
society. As a result, Schools are preparing traditional values’ working in their particular fields of expertise,
while contributing to solving the world’s
30 larger challenges. They have to go beyond
their comfort zone; in other words, move
beyond their limited focus on business,
in order to understand and explore the
complexities of the world.
It’s a change that will enable them to
provide support in overcoming the major
hurdles faced by society.
When Business Schools take the step to
work on major societal problems, they open
the door to risks and are forced to take
sides. By this, I mean that Business Schools
do not currently think (and this is a simple
fact, not provocation). Their researchers and
professors think, but the Schools themselves
do not. They ‘describe’ and often they
do so after the fact. This was illustrated
by the 2008 financial crisis – no Business
School anywhere in the world predicted
or anticipated this crisis. In other words:
Schools do not think, they do not take sides,
they do not act.
For example, what does Harvard Business
School think about problems impacting on
society? Does Harvard voice an opinion,
not on immigration, but on what we should
do in concrete terms about immigration
and immigrants? Going further, if a School’s
opinion supports immigrants, does the
School work actively to welcome them?

Existing articles Proposal to re-write the article*

Article 1832: A company is created by two A company is created by two or several

or several persons [...] with a view persons [...] with a view to sharing the
to sharing the profits or savings which profits or savings which may result, thanks
may result. [...] to the pursuit of a sustainable and
responsible activity. [...]

Article 1833: All companies must have All companies must have a lawful object
a lawful object and be created for the and be created for the shared interest of the
shared interest of the partners. partners. The company must be managed in
its best interests while considering the social
and environmental impact of its activities.

*Sénard-Cotat Report delivered to the Minister of the Economy, Bruno Le Maire, on March 9, 2018 (Jean-Dominique Sénard, President of the Michelin
Group, and Nicole Notat, ex-Head of the CFDT union organisation and current OIT delegate).

Another example that might offer better things – and to have an impact – you have
perspective is the case of US President to be where the action is. While Business
Donald Trump. The researchers and Schools have been limited to describing and
professors at Harvard voiced many negative explaining, they now also have to (and I do
opinions before and after the election of mean ‘also’, not ‘instead’), state their aims,
Trump. But in concrete terms, what has choose sides, communicate and convince.
Harvard done about it? Nothing. They have to act, which is at the heart of
being engaged and inciting change within
the world. In this way, Schools can help

‘If you want to change

federate the business world and public
institutions in order to work together on
things – and to have an important human values and the goal of

impact – you have to be companies: to perform and create profit for

all concerned parties, thereby improving our
where the action is’ shared social fabric and contributing to the
common good.

If the School had an editorial policy, if That would be going beyond its comfort Loïck Roche is Director and Dean at
it truly wanted to change the world, then zone in Cambridge, Massachussets, and Grenoble École de Management
Harvard wouldn’t simply denounce policy or entering the playground where things are (Grenoble Business School). Coming
take sides. The School would act in concrete taking place. To understand societal changes, from a corporate background, he
terms. How? For example, by setting up events and facts, it’s important for Business worked for 10 years in France and
locations in the US where people voted Schools to be ‘external’ and to maintain a internationally as a consultant in the
overwhelmingly for Trump. certain impartiality. But if you want to change field of human resources.

The building blocks of

accelerated leadership
In a fast-paced business environment, MBAs must learn
how to accelerate leadership development – their own and
others', writes Ines Wichert


very leader’s career will follow a slightly BREADTH OF LEADERSHIP EXPERIENCES

different trajectory and will be built on a There are certain roles or experiences that future leaders need
unique set of skills and experiences. While on their CVs that put them in the best position to become
there is no step-by-step blueprint for career leaders. These are: international assignments; large-scale
success, there is a set of building blocks that change-management roles; developing or setting up something
will help high-potential individuals not only from scratch (for example, a new project, team or manufacturing
increase their chances of reaching the top facility); managing people; operational roles; profit and loss
of organisations but also doing so on an responsibility, and turnaround roles.
accelerated track. Ideally, emerging leaders will gain access to a variety of
My research, based on in-depth interviews with more these leadership experiences. This breadth of experience is the
than 40 HR and business leaders, and drawing on the latest foundation for progression to senior roles. Only if a promising
career and business insights, has identified seven building employee has worked through a range of different organisational
blocks of accelerated leadership development. challenges will they be able to deal effectively with the scale and
Accelerated development has become vital at a time complexity of a leadership role.
when leaders are often ill-equipped to deal with the Breadth of experience allows an emerging leader to gain
challenges of a world increasingly characterised by myriad benefits, including an organisation-wide view, flexible
volatility, ambiguity and fast technological advances. leadership and problem-solving styles; they will know how to get
As Business School Deans, Directors and careers professionals up to speed fast in a new environment. Broad experience has
professionals, we can help our top talent by highlighting the always been important for senior leaders, but it has become even
importance of the following three career acceleraters more vital now that leaders must navigate organisations through
• the importance of gaining breadth of the choppy waters of technological disruption, increased global
leadership experience complexity and volatility.
• the power of reflection, and As career development professionals we can help our
• the benefits of support. top talent understand the importance of seeking breadth of


experience in their future careers and not

simply strive to become increasingly expert
the world. It’s also the stage where
the learner can find connections between
‘Reflection is a
in one area. Furthermore, we must help seemingly unrelated events. powerful activity
them understand this as they are embarking but doesn’t always
Step 5: A drawing conclusions stage about
sit well with our
on their leadership development journey.
Accelerated leadership development is what else could have been done.
rarely achieved through classroom training. It action-focused
happens on the job and through learning by Step 6: And finally, a future actions stage
doing. Stretch assignments, special projects about what we can do in future should the
and job rotations must therefore become an situation arise again. This stage helps us be
integral part of their career strategy. better equipped if we come across similar
situations again in future.
Reflective learning techniques taught on MBA The more we practice reflection, the more
programmes are identified in my research as effective we become at extracting maximum
one of the seven key elements of accelerated developmental value from a situation.
leadership development. Reflection is a powerful activity but doesn’t
Reflection is a structured process aimed always sit well with our action-focused
at increasing our insights and learning. It world. MBA students and graduates need
is about taking a step back to review past to be encouraged to continue their formal
events systematically. It is not the event itself learning by reflecting on the many situations
that creates development, but the learning they encounter as part of their daily working
we extract from it. lives and to develop a learning mindset. It
According to Gibbs Reflecxtive Cycle is not the experience itself but the learning
(1998), to get the fullest value, we must we extract from it that generates personal
ensure that our reflections move beyond the development.
34 surface level of what happened. It is therefore
worthwhile taking a little bit of time to go SUPPORT
through each of the six steps of the reflective Support is also identified as one of the seven
learning process. building blocks of accelerated leadership
development. As career professionals, we
Step 1: A short descriptive stage where need to ensure that students and graduates
we focus on what happened during the know how to access the support they will
situation. It is important to move on from this need along the way.
surface level of reflection to gain the Acceleration brings with it increased risks
full benefit of reflection. for both the organisation and the individual. • appraisal support
Having support in place, either through • informational support
Step 2: An examination stage where we focus mentors, coaches or managers, or through • instrumental support
on the feelings we experienced during the infrastructure such as regular review meetings, • emotional support.
situation. For more advanced reflection, we can greatly reduce the risks of burnout
benefit from examining our feelings about and derailment and help leaders transition APPRAISAL SUPPORT
the event shortly after it happened and then successfully to new challenges. Approval support, or the provision of
again later, after some time has passed, to However, we must ensure MBAs not only feedback, is particularly powerful for helping
reflect on how our feelings have changed. focus on who is available to provide support emerging leaders develop faster. Emerging
but also, what types of support they are leaders who gain feedback are more likely
Step 3: An evaluation stage that explores providing. High-potential leaders need access to have greater self-awareness. Where this
what went well in the situation and what went to four different types of support: external reference point is not available, there
less well. This stage helps us to adapt our may be a gulf between how emerging leaders
actions continually, to avoid making the same see themselves and how others see them.
mistakes again.
‘Breadth of experience INFORMATIONAL SUPPORT
Step 4: An analysis and sense-making has always been Another important type of support is access
stage. This is an important part of the important for senior to information and guidance. This can be
reflective learning process as it is here
that the learner tests, validates or adjusts
leaders, but it has become technical information linked to a new role
that a high-potential employee has taken
their own assumptions and views of even more vital now’ on or more general career advice, such as

Seven building blocks of

accelerated leadership

Potential. A willingness to try new things, the

ability to extract learning from experiences,
and a commitment to apply this learning to
new situations. This implies drive to grow as
well as the intellectual ability to learn fast from
new situations and apply this new knowledge.

Breath of experience. Only if emerging

leaders have worked through a breadth of
organisational challenges will they be ready to
take on the complexity of senior roles.
Among the most developmental challenges
are managing people, operational delivery,
change management, starting something from
scratch and working abroad.

‘Relationships Risk taking. The willingness of organisations to

nurtured at work appoint a less experienced leader to a role to

are an indirect
provide development opportunities. The risks 35
of appointing less experienced leaders must
source of career be weighed against the risk of not developing

acceleration’ a pipeline of experienced leaders.

On-the-job learning. Arguably the most

powerful format for emerging leaders to
learn; honing leadership capabilities through
an ongoing transaction between the high-
information about available roles Where support is provided through potential leader and their environment.
or advice about unwritten rules of how to informal systems such as mentors, we must
succeed in the organisation. ensure that everybody has access to the same Consolidation: Providing time for high-
level of support to provide a level playing potential employees to make sense of their
INSTRUMENTAL SUPPORT field for all our high-potential talent. learning. This can be provided by spending
Practical support can ease the added strain extra time in a stretch role before moving on
of starting a new role. In some instances, to the next challenge or occasionally taking
this support will be tailored to the individual. on a less challenging role.
In other situations, it will be programmatic Dr Ines Wichert is an Occupational
and formalised. Examples can include Psychologist and Managing Director at Reflection: A systematic review of past
support with relocation, such as finding leadership development consultancy situations to encourage insights and deepen
schools and language training or coaches TalUpp, whose revolutionary leadership learning. A form of mental processing that is
to address specific training needs development app for emerging particularly useful for complex or ill-structured
leaders enables organisations to develop situations. Useful approaches to reflections
EMOTIONAL SUPPORT deeper and more diverse leadership include journaling, conversations with mentors
Relationships nurtured at work are pipelines faster. She works with and coaches or action learning sets.
an indirect source of career acceleration organisations and individuals to develop
as they can help increase an emerging talent and build high-performance teams. Support: Four types of support are helpful to
leader’s resilience and consequently Her new book Accelerated Leadership accelerated leaders: information, feedback,
decrease the risk of derailment Development – How to Turn your Top Talent hands-on and emotional support.
through burnout. into Leaders is published by Kogan Page.

How do employers attract and motivate today’s young people?

Linda Ronnie, Associate Professor in Organisational Behaviour
and People Management at the University of Cape Town’s
Graduate School of Business, introduces the African philosophy
of ‘ubuntu’ to the workplace


(volatile, uncertain, complex, ambiguous)

environment – attract, manage and develop
millennials for their ultimate wellbeing and
that of their workforce and business? that create wellness-
In South Africa, where workplace
focused organisations are
more likely to retain
challenges are complicated by the legacy
of apartheid, and with millennials (known as
‘born frees’ because they were born after the their people’
advent of democracy in 1994) making up 40%
of a population of 56 million, forward-thinking
organisations are embracing the philosophy also in boosting motivation and retention,
of 'ubuntu'. Ubuntu is a traditional African the innovative ideal might include a salary
ot so long ago, an organisation’s success philosophy about generosity, hospitality, structure for example, which has a basic
depended firmly upon revenue maximisation, friendliness and care between people. salary suitably benchmarked and allowing for
sales and investment, a playing field familiar And while it is a philosophy particularly progression, and includes added bonuses
to the baby boomers of the post-war decades suited to South Africa, it is a good philosophy and cash incentives.
and generation Xs of the late 20th century. for all global organisations. All over the
This is no longer the case. world, organisations are confronting similar Ongoing engagement:
Increasingly, success, sustainability, growth, challenges including talent attraction and motivation and inspiration
and performance rest upon human capital, retention, motivation and engagement, and Typically, millennials seek ongoing
people’s wellbeing, and development. It is addressing burnout and stress. reassurance that they are valued, so
workers’ sense of value and engagement that communication is key, as are managers and
ultimately drive productivity and performance. First impressions: talent attraction mentors who are involved, supportive and
A business which fails to take a people- When it comes to talent attraction, what nurturing. Regular, explicit and meaningful
centric approach does so at its peril, risking appeals to millennials? An essential performance feedback should reap rewards.
38 undermining its capacity for high-quality component is reputation or a recognised As traditional performance assessment
standards, performance and competitiveness. brand. The value-driven millennial will seek systems become obsolete, growing numbers
A human-centric approach has arguably employers who look to improve their internal of prominent global organisations are turning
never been as important as it is to the new environment as well as the external one, to frequent feedback sessions aimed at
generation entering the market, who bring resonating with their own values and their employee engagement and performance
entirely new outlooks, expectations and hopes of making a meaningful contribution. improvement. This resonates with millennials
work relationships. These tech-savvy new With prestige and reputation major draws, who embrace high engagement.
generational cohorts – millennials – are keen the first thing to get right is the public face For example, Malcolm Hall, Co-founder of
to have a voice when it comes to of the business. The prevalence of online job Open Box Software, a South African software
their professional and personal wellbeing. searching means that websites and social company seeking innovative solutions,
They seek training and development, media platforms (such as LinkedIn, Facebook, wants to ensure his workers are eager to
meaningful work and a healthy work-life and Twitter) must be kept updated, offering come to work every day. To that end, the
balance and are less risk averse than their an inside view of an organisation’s culture business operates in a collegiate manner,
generational counterparts. through video and other creative and with a flat organisational structure and open
So how do organisations around the globe, engaging means. communication policies. What sets it apart
already under siege from seismic shifts in Money matters, but according to a 2016 is its appraisal system, which works through
technology, economies, politics and social Deloitte report, the millennial seeks career weekly feedback sessions. Junior sessions
spheres – operating in the so-called VUCA growth, work-life balance, purpose, travel, focus on individuals’ skills development, any
investment in and intensive use of technology technical issues that arose during the week
and professional development. Millennials and improvements going forward, while

‘Strategic alliances
want to know that their chosen organisation senior sessions focus on strategy, projects,
will support their continuous learning communication and interpersonal skills.
with educational capacity. Strategic alliances with educational According to academics, such as Maria-

institutions such as institutions, such as Business Schools, can

boost the organisation’s profile, and study
Theresa Lepeley, systems such as these,
married with human-centred management
Business Schools reimbursement also help to draw applicants. principles, lead to highly committed teams.
can boost an There is the ideal solution, which satisfies In the quest for meaningful work,

the personal wants and needs of the millennials also respond well to rotation
applicant in a win-win solution. Shown to programmes that encourage employees to
profile’ be very effective in attracting talent, but switch jobs as a learning experience; enjoying

What is a millennial?
Millennials, also known as generation
Y, make up a demographic of people
born between 1980 and the mid-
1990s. However, different studies 39
define this demographic in various
ways. For example, in 2013, PwC’s
NextGen: A global generational study,
defined millennials as people born
between 1980 and 1985. In 2015, Ernst
& Young’s Americas Retail Report
defined millennials as those born
between 1981 and 1996. Millennials
in 2018 would be in the age range
of 22 to 37.
The terms ‘generation X’ and
‘generation Z’ refer to the generations
before are after the millennial
generation, respectively. Generation
X precedes the millennial generation
and refers to those, born between
the early-to-mid 1960s to early 1980s.
Generation Z came after the millennial
generation and is defined as the
cohort born between the mid-1990s
and the mid-2000s.
The term ‘baby boomers’ reflects
the people who were born just after
the Second World war between 1946
and 1964. Ernst & Young also uses
these date ranges in its study when
defining baby boomers.

fresh experiences in different areas of the ‘Regular, explicit and In his book 2000 In Search of the African
business is one way to do this.
Semco, a Brazilian manufacturing company,
meaningful performance Business Renaissance, Lovemore Mbigi,
CEO of Woburn Business School, wrote that
offers new employees the opportunity to feedback should in an organisational setting, survival and
experience all departments before making an
employment choice and it encourages staff
reap rewards’ sustainability, compassion, solidarity, dignity
and respect were identified as five key values
members to change jobs, thereby providing underpinning ubuntu.
all employees a chance to learn new skills, a single employer and a gift on retirement, In essence, ubuntu involves strategies to
while developing sa multi-skilled workforce. millennials are more loyal to their work and build and consolidate relationships, while
to their peers than to individual companies. each player looks after their own interests
Wellbeing: managing burnout and stress In 2016, Deloitte reported that one in four and the higher interests of the team.
Millennials are keen to immerse themselves in millennials would leave their current employer This unified identity, crucial in the South
their work, meaning there is potential for them during the next year given a choice, and 44% African context, is driven by committed
to become overwhelmed by work demands. within a two-year window. This jumps again leadership and effective employee training
Signs of stress and burnout should therefore in emerging markets; in South Africa, for programmes, and is a powerful tool for
be addressed swiftly. While millennials are example, 76% would leave their organisations promoting tolerance,
keen to contribute, they nonetheless value in the next five years. unity, independence and inter-dependence
work-life balance and good managers need An oft-cited reason by millennials for in the workplace.
to factor this in. Potential threats to mental leaving an organisation is the lack of The gelling of cross-generations can
health and wellbeing must also be considered; strong leadership skills. In addition, skilled also be promoted through mentorship
if these are mismanaged, they can prove costly millennials are often headhunted and rapid programmes. This is win-win for baby
to all. career mobility brings fresh knowledge boomers, who have a proven track record
The Benefits and Trends Survey 2018, from and an enhanced skill set. This mobility, of giving back and who wish to share
UK-based consultancy Aon Employee Benefits, when paired with the retirement of baby experience gained over time, and for
found the number of employers reporting boomers, threatens to leave organisations in goal-driven members of generation X.
40 employee stress and mental health-related a precarious position. Mentorship feeds millennials, hungry for
illnesses rose 13% from 55% in 2017 to 68% One way to counter this is to support the knowledge, and also works in reverse when
in 2018, fuelled by high work demands, the ambitions of young employees through tech-savvy young people are able to mentor
impact of artificial intelligence and automation leadership training and high-quality their older colleagues, thereby sharing
and the resulting job insecurity. In South Africa, mentorship. In 2016, Deloitte found that knowledge through a satisfying collaboration.
mental health costs the economy billions there are two things millennials appreciate We live in a complex and highly-integrated
according to a 2017 Financial Mail report. in mentoring relationships: good-quality, world, but by acknowledging the needs
Veteran businessman and philanthropist effective advice (94%) and interest in their and dreams of fresh generations of skilled
James Espey, who heads up the Shaw Mind development (91%). employees and embracing the spirit of
Foundation – a social interest group working ubuntu, business organisations in the public
to reduce global suicide rates – says that Managing the generational mix and private sector can continue to improve
to address what threatens to be a stress The final challenge is dealing with a organisational culture through human-
epidemic, it is vital to destigmatise mental generational mix of baby boomers, centred management, resulting in the
health issues in the workplace and a change of generation X and millennials – particularly in wellbeing of all.
mindset around unreasonable workloads. He the South African context where generational
recommends a corporate culture that supports differences in the workplace may be Linda Ronnie is an Associate Professor
limited work hours and sends a message that exacerbated by vast differences in life and in Organisational Behaviour and People
employee wellbeing is valued. educational experiences, stemming from the Management at the University of Cape
injustices of the past. Town’s Graduate School of Business, one
Keeping the faith: retention Having said that, the success of any of three triple-crown accredited African
Employers that create wellness-focused organisation, regardless of its location on Business Schools.
organisations are more likely to retain their the planet, hinges on its teams and how Ronnie contributed a chapter entitled
people. Rather than valuing a long career with they collaborate, regardless of generational, Wellbeing Challenges of Millennials: South
gender, race or cultural differences. This Africa’s ‘Born Free’ Generation to the
brings us back to ubuntu and the spirit of book Wellbeing for Sustainability in the
‘Ubuntu is all about shared values. In 2000, Former South Global Workplace, one of the Routledge
generosity, hospitality, African Archbishop Desmond Tutu Human Centered Management series. This
important book takes a global perspective
friendliness and care
explained that those who share the generous
spirit of ubuntu are willing to support others on wellbeing in the workplace, identifying
between people’ and strengthen themselves. both universal and specific cultural issues.



The problem with 'voluntourism':

how ethical is volunteering abroad?
ne of the most the volunteering placements being offered Sallie Grayson, also quoted in the article

illuminating stories about by commercial operators are little more above, offers a useful rule of thumb for
a volunteering trip (or than expensive holidays’ and adds that judging whether your contribution will be
50 ‘positive impact’ vacation- ‘many volunteers have misplaced idealism, useful, or ethical. ‘Volunteers should ask
‘voluntourism’) involves misconceived attitudes, and unrealistic themselves, “do I have the skills to do this
a young woman who went to Tanzania to expectations of what they can offer local job? Would I be allowed to go and hug a
build a school. Early every morning, the communities’. It suggests that they would baby at an orphanage in my own country?”
volunteers would start work, occasionally be better off volunteering for legitimate And we know the answer: "Why should we
making a few disdainful remarks about the organisations back home, ‘where they be allowed to go and use economically
locals, who went on sleeping. But towards would receive proper training, support, and poor communities as our playthings?".’
the end of her trip, the woman discovered supervision – without the need to pay a tour Tourism Concern also provides a
something both ironic and heart-breaking. operator for the privilege’. number of tips for would-be volunteers.
Each day, after her team had finished Some of the impacts of voluntourism It urges them to take a close look at the
building a wall and left, the locals would are very serious indeed. You don’t have to organisation for which they’re thinking of
come and tear it down. They would then look far on the internet to stumble across volunteering (charity, NGO, profit-making
build it again – expertly, this time. stories of fake Cambodian orphanages set businesses), its record within the local
The anecdote is featured on the website up to cater for volunteers duped by scam communities, and independent evaluations
World Travel Guide and is attributed to NGOs. Parents are either persuaded that of its legitimacy. It suggests they get in
Mark Watson, executive director of Tourism their children will be better off in one of touch with previous volunteers via social
Concern. It appears in an article by travel these institutions – or bribed. In 2014, The media, to learn about their experiences.
journalist Jack Palfrey, who suggests that Telegraph reported: ‘The Cambodian city of Those who are keen to fly to a far-flung
volunteering has been popularised ‘by Siem Riep, with a population of 100,000, is destination and dig wells should question
its inclusion on the archetypal gap-year now home to roughly 35 orphanages. And their own motivations. I suspect the appeal
agenda and regarded as another tick on according to activist group Orphanages of voluntourism is more about what it
the CV’. No, 75% of children living in Cambodian does for the traveller than the community
Such is the demand for places, writes orphanages are not orphans.’ concerned. Ultimately, as with most tourism,
Palfrey, that hundreds of commercial There are, of course, perfectly legitimate the underlying goal is to feel good.
organisations have sprung up, charging non-profit volunteering organisations, such
fees that go straight into their pockets as People And Places, which dates back
while they ‘send volunteers on unsatisfying, to 2005 and matches people with genuine Mark Tungate is author of The Escape
purpose-built placements’. skills – teachers, nurses and social Industry: How Iconic and Innovative
Tourism Concern points out that ‘many of workers – to suitable projects. Co-founder Brands Built the Travel Business.

Coming up
Strategic corporate
social responsibility
Businesses are expected to be

February 2018
good for the world: to be socially
and environmentally responsible,
sustainable and ethical. With this
in mind, how is CSR impacting
the MBA agenda in terms of
teaching, learning and practice?

Preparing MBAs to succeed... and fail The future of globalisation

We strive for success, but it could be argued that we must Steef van de Velde, Dean
and Professor of Management
experience failure in order to achieve it. Several business
and Technology at Rotterdam
education experts talk about the topic of failure within the School of Management,
Business School and for the MBA student. Erasmus University Rotterdam,
shares advice for Business
Schools for enhancing their
international journeys.

Design thinking for Business

School careers services and
recruitment professionals
Design thinking begins not
with your creative solutions to an
end-user’s problem, but with the 43
quality of the questions you ask
the end-user. The answers
to these questions determine
the path you’ll take to identify
and solve the problem.

Degrees for rent: why

MBA degrees should come
with an expiry date
Business Schools must adopt
alternative business models
and embrace technology or
risk becoming a casualty of
the paradigmatic changes in
business, argues Professor Bodo
Schlegelmilch in a call for action.

To read
13 – 15 May 2019
Intercontinental Istanbul, Turkey

AMBA is delighted to confirm it will be holding its prestigious annual Global Conference in Istanbul
from 13-15 May 2019. AMBA’s Global Conference 2019 is set to attract the most distinguished figures in
management education. Some of the world’s leading Deans, MBA Directors and other business leaders
will share and discuss their views on the issues that will impact Business Schools globally.

Find out more at

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