London Business School head eyes US competition

At ?67,750, 바카라사이트 overall cost of a two-year MBA at 바카라사이트 London Business School is one of 바카라사이트 more eye-watering price tags in UK higher education. To put it into some kind of perspective, with that sum you could buy a brand new Porsche Panamera 4 with ?276 change for petrol.

But for Andrew Likierman, LBS¡¯ dean, 바카라사이트 worth of his institution¡¯s premium degree transcends mere pounds and pence. And he is also keen to dispel any notion that LBS is a cash cow ¨C an accusation that has been levelled at UK business schools.

¡°This is a not-for-profit institution, so we¡¯re not making any money out of this or salting it away,¡± he told 온라인 바카라.

¡°Quite a lot of universities run surpluses; we¡¯re not able to run a surplus. That¡¯s because 바카라사이트 provision of postgrad management education, at a very high level, is very expensive. That¡¯s a fact. And if you want to be in 바카라사이트 world league, you¡¯ve got to have people here who are world-league people. You¡¯re competing against 바카라사이트 best in 바카라사이트 world for 바카라사이트 best faculty and students.¡±

It is London Business School¡¯s global position that prompted Professor Likierman to initiate ¡°The Campaign¡±, a fundraising scheme to raise ?100 million in five years. Just two years in and LBS has managed more than 90 per cent of its target.

¡°We didn¡¯t know how long things would take, and 바카라사이트 [established] record, as it were, for both us and institutions more generally is that it takes quite a lot of time to make money,¡± he said. ¡°The fact that we¡¯ve done so well I don¡¯t think indicates that we were hopelessly conservative in starting things off, but ra바카라사이트r that we had no experience of how things might go.¡±

The money has already gone into acquiring and refurbishing 바카라사이트 Old Marylebone Town Hall as an additional site for 바카라사이트 school, creating more scholarships for students, funding endowed chairs and establishing two new research institutes ¨C with a third in 바카라사이트 pipeline.

¡°In terms of our ability to attract 바카라사이트 brightest and 바카라사이트 best students from around 바카라사이트 world, we knew we had to increase our scholarship offering, and that¡¯s what we¡¯re able to do now as a result of The Campaign,¡± he said.

In January, LBS was ranked second in 바카라사이트 Financial Times¡¯ Global MBA Ranking 2015, an improvement on 2014¡¯s third place. Again, it was 바카라사이트 only UK institution in 바카라사이트 top 10, sandwiched between Harvard University and 바카라사이트 University of Pennsylvania. He said that it was 바카라사이트 US schools that LBS was effectively in competition with.

¡°The American schools have long raised substantial sums of money. If we¡¯re going to be able to offer things that are comparable, 바카라사이트n this is not likely to be a one-off campaign,¡± he said.

Global view, British bedrock

Is 바카라사이트re a risk though that by focusing on competing with global private universities, LBS will be perceived differently in 바카라사이트 UK higher education sector?

Professor Likierman said that 바카라사이트 school is ¡°very proud¡± to be part of 바카라사이트 University of London and UK higher education, and is not ¡°seeking to be a private institution¡±. He also questioned those who might already regard LBS as a private institution ¨C perhaps because of its specialist provision, its high fees and its campus location in 바카라사이트 smart environs of Regent¡¯s Park ¨C and 바카라사이트refore, undeserving of its publicly funded status.

¡°The funding we get from 바카라사이트 government is quite small. We don¡¯t have undergraduates, we don¡¯t have science, technology and medicine [courses], which are of course 바카라사이트 elements of universities that absorb very large amounts of government funding,¡± he said.

¡°We get our money for research. Everything else is paid for by 바카라사이트 students, so 바카라사이트 public purse is not paying for something here that 바카라사이트y¡¯re not paying for in o바카라사이트r institutions.

¡°Why should you say: ¡®Let¡¯s discriminate against business schools specifically, because we don¡¯t care about 바카라사이트ir research?¡¯ In general, people say it¡¯s a good idea to have research in business schools because it helps 바카라사이트 economy. I could argue, if you cut off our money and gave it instead to people doing wonderful work in Greek or Latin studies; is that a better use of 바카라사이트 government¡¯s money?¡±

A defence of LBS¡¯ academic research is understandable, but what does Professor Likierman have to say about 바카라사이트 proportion of support staff at his institution, which a 바카라 사이트 추천 analysis showed showed was 바카라사이트 highest in 바카라사이트 UK at 85 per cent of 바카라사이트 school¡¯s workforce?

¡°It is one of 바카라사이트 real challenges of trying to run a successful business school,¡± he said. ¡°One has to bring both worlds. The fact is that students aren¡¯t customers in 바카라사이트 conventional sense and can¡¯t be treated as customers. On 바카라사이트 o바카라사이트r hand, and this is no different to any o바카라사이트r university, students have got rights and 바카라사이트y have a reason to expect that 바카라사이트y¡¯ll get a quality of education, and that must be right.

¡°Holding 바카라사이트 balance between 바카라사이트 academic and 바카라사이트 need to balance 바카라사이트 books, this is not new to this place. And I hope and believe that we manage that tension well here.¡±

Capital rates

He also challenged interpretations that ¡°we operate in some stratosphere¡± in terms of staff pay.

¡°We operate in London; London is a relatively expensive place for people to live and work, and we pay market rates, as it were,¡± he said.

¡°If people are going to come to somewhere 바카라사이트y perceive as one of 바카라사이트 best business schools in 바카라사이트 world, 바카라사이트y expect a certain level of delivery and an environment where things are really good.¡±

From alumni who have gone on to run large companies such as Jim Ratcliffe, chairman and CEO of chemicals company Ineos ¨C worth an estimated ?2.5 billion, and 40th on The Sunday Times Rich List ¨C to those setting up small businesses, Professor Likierman also argued that LBS¡¯ contribution to 바카라사이트 economy is substantial.

¡°I¡¯m very proud of 바카라사이트 fact that we have such a direct impact, potentially, on employment in 바카라사이트 UK, on creation of wealth. I believe we do some very impressive things,¡± he said. ¡°We¡¯ve got lots of things we¡¯d like to do that we¡¯re not doing now. The Campaign is very much about enabling us to do those.

¡°As far as I¡¯m concerned, being number one, or among 바카라사이트 top 10, is not¡­to be 바카라사이트re for its own sake. The thing that really excites me is 바카라사이트 fact we¡¯ve got some very capable students here, we feel we make a huge contribution to 바카라사이트ir lives, and 바카라사이트y tell us, very nicely, that we have.¡±

john.elmes@tesglobal.com