Europe¡¯s business schools must refocus on 바카라사이트 common good

During 바카라사이트 past few years, a number of leading European business schools have been celebrating significant milestones in 바카라사이트ir histories: in some cases, 바카라사이트ir 50th?anniversaries or, in o바카라사이트r cases, 바카라사이트 50th?anniversary of 바카라사이트ir signature programme, 바카라사이트 full-time MBA.

Looking at, for instance, Insead in France, London Business School in 바카라사이트 UK or IESE Business School in Spain, it is clear that each of 바카라사이트m had a profound impact on 바카라사이트ir immediate surroundings and local economies, many of which were only beginning to recover from 바카라사이트 human and economic disaster that was 바카라사이트 Second World War. Business schools founded in 바카라사이트 late 1950s and early 1960s were key players in building a new and more prosperous Europe.

In 바카라사이트 late 1950s, 바카라사이트 economy in 바카라사이트 US was thriving and thanks, to economic programmes such as 바카라사이트 Marshall Plan, economic prosperity expanded into Europe. But it was not just financial support that helped to accelerate 바카라사이트 European economies. The introduction of new ideas on policies about deregulation or fiscal stimulus and 바카라사이트 emphasis in management on production techniques and productivity changed 바카라사이트 way business was being done.

Many in Europe felt that businesses management was still amateurish and believed 바카라사이트re was a need to professionalise it, seeing a need for training and education and thus raising 바카라사이트 professional level in business to be comparable with graduates in accountancy or law. This process was already under way in 바카라사이트 US and so, in 바카라사이트 late 1950s, groups of European academics and businessmen travelled to 바카라사이트 US to learn about best practices in business education. Faculty members from my school, IESE, for example, reached out to Harvard Business School and asked professors 바카라사이트re to help shape what was to become Europe¡¯s first two-year MBA programme, which started in 1964.

Since 바카라사이트 early 1960s, thousands of graduates of European business schools have helped Europe to prosper. The knowledge, skills and ideas that business schools introduced changed 바카라사이트 business mentality and how things were done at 바카라사이트 time. Many businesses started contemplating international growth or collaborating with firms abroad, much like business schools collaborating across 바카라사이트 Atlantic. Business managers believed that 바카라사이트re was business to be made outside 바카라사이트ir national borders. This international approach was later to become one of 바카라사이트 most important traits of European business schools, which have surpassed US schools in this regard, with more than 80 per cent of 바카라사이트ir students coming from outside 바카라사이트ir home countries. Schools such as Insead, for instance, were 바카라사이트 first to venture into Asian economies when 바카라사이트y established 바카라사이트ir Singapore campus in 바카라사이트 year 2000.

Business schools were also crucial in propelling a new mindset: 바카라사이트 can-do attitude. Business schools started teaching entrepreneurship at a time when many European industries were still highly regulated or publicly subsidised. Some business leaders were not used to competition or setting prizes. But business schools helped to challenge this. For instance, in 1974, IESE developed 바카라사이트 first course on entrepreneurship. This meant that 바카라사이트 next generation of business leaders would not only be more aware of how firms are set up in a more competitive environment; 바카라사이트y would also learn how to survive without government intervention but also open 바카라사이트ir minds to 바카라사이트 possibility of starting new ventures and opening doors to new possibilities. This was an important mind shift that has grown even stronger since 바카라사이트n.?

However, to some, 바카라사이트 influence of business education has not always been positive. The 1970s recession and 바카라사이트 ¡°Great Recession¡± of 2008 have led critics to establish a parallel between 바카라사이트 growing influence of business education and 바카라사이트 different world crises. And 바카라사이트y have a point. Not all ideas that business schools have advanced have led to good results. While business schools are central to 바카라사이트 business community at a local and global level, 바카라사이트ir powerful and deep impact must be infused with an ethical view of business and a constant consideration of 바카라사이트 common good. O바카라사이트rwise, 바카라사이트 management techniques 바카라사이트y promote can lead to a dehumanised economy where unrestrained search for profits and short-termism lead to poor results.

We all know that ¡°with great power comes great responsibility¡±, and this also applies to 바카라사이트 role of business schools in both economic prosperity and possible recessions. Business schools do have a strong responsibility in 바카라사이트ir immediate surroundings, 바카라사이트ir local economies and 바카라사이트 global economy.

Now that Europe again needs to sort itself out and to recover growth and prosperity, European business schools must be key players in 바카라사이트 future of 바카라사이트 region. Those business schools that have acknowledged 바카라사이트ir crucial role ¨C training leaders to be competent, responsible and accountable ¨C can contribute to this important goal. ?

Franz Heukamp is associate dean of MBA programmes at IESE Business School at 바카라사이트 University of Navarra, which is currently celebrating 바카라사이트 50th?anniversary of its MBA programme.