21 st century leaders. The role of business schools (and employers). 21st Century Leadership, CMI, JUne 2014

Background In May 2013, research undertaken by the Association of Business Schools (ABS) showed that business schools play an important role in driving innovation and growth in the UK. But, while they are internationally recognised and successful at what they do, they can undoubtedly make an even greater contribution to our country’s economic progress through the graduates they produce, especially in terms of supporting our small and medium enterprises. In particular, the research found that business schools need to do more to integrate practice into teaching and bring experienced practitioners from the business community into their faculties. 21st Century Leadership, CMI, JUne 2014

Context. Business and management is the largest undergraduate course taught in UK 231,480 F/T & P/T students 105,770 post graduate students Worth £3.25 billion Source HESA data 2012/13 21st Century Leadership, CMI, JUne 2014

So why change? 31% of employers: no business case 40% employers: business schools don’t understand their needs 47% employers don’t know if business schools are well connected with the local business 21st Century Leadership, CMI, JUne 2014

1. work experience: easy & mandatory Work experience to be mandatory for every student Make it easier for employers: › one-stop portals › single point of contact › remove barriers e.g. excessive form filling › keep pay levels reasonable › swift and effective support Mentoring schemes 21st Century Leadership, CMI, JUne 2014

2. People management skills. Learners need to be able to: – Communicate and persuade – Have difficult conversations about performance – Manage projects – Work in a team Management modules for non-business/ management students 21st Century Leadership, CMI, JUne 2014

3. Improved SME offer. Closer relationships with employers e.g. via LEPs or local chapters of professional bodies Accreditation with Small Business Charter Award Co-design or co-deliver with SMEs Teach entrepreneurial skills 21st Century Leadership, CMI, JUne 2014

4. Managers with ethics, integrity & global mindset. All students should study abroad Use cross-cultural communities to build cultural knowledge Teach ethics and sustainability as core for business and management degrees 21st Century Leadership, CMI, JUne 2014

5. Professional practical qualifications Integrate professional qualifications into curriculum Give employers evidence of practical skills Chartered Manager/Qualification gives global competitive advantage “75% OF EMPLOYERS SAID THAT MORE GRADUATES SHOULD SEEK PROFESSIONAL QUALIFICATIONS” 21st Century Leadership, CMI, JUne 2014