Category Archives: Business schools

Prince Charles calls for pensions industry ‘fit for 21st century’

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By Anna Tilba, Newcastle University Business School

Speaking to a conference of National Association of Pension Funds, Prince Charles voiced his concerns over whether Britain’s’ pension system is built to cope with its ageing population. He emphasised that it is pension funds’ duty to manage environmental, social and economic risks and to change the culture of ‘quarterly capitalism,’ which is unfit for purpose. Prince Charles left it up to pension funds to ‘help shape a system designed for the 21st century and not 19th century’.

Having spent over seven years researching pension fund governance and investment, I would say that yes, change is needed but it is unrealistic that this change will happen, due to issues around pension fund liabilities, complexity of pension fund investment, demographic changes and the current economic climate.
‘Quarterly capitalism’ whereby businesses pursue short term aims for short term gains at the end of each financial quarter, is the sign of our challenging economic times.

Firstly, there are issues around how trustees interpret their duty. The UK legal trust tradition, which gives pension fund trustees the power and the fiduciary duty to act in the best interests of pension fund members, means that trustees -on the most part- interpret that duty as acting in the best financial interests. My recent research into UK pension fund investment practices suggests that trustees’ interpretation of their fiduciary duty of care is a core guiding principal, which informs pension fund investment strategies and actually discourages share-owner and stewardship activities.

Increasing complexity with pension fund investment chain means that in practice, pension funds are far removed from the corporations in which they hold shares. Many delegate all to do with pension fund investments to financial intermediaries who themselves are focused on share trading, rather than responsible shared ownership. The complexity of pension fund investment and an increasing regulatory burden also means that trustees are too busy dealing with pension fund governance and compliance, rather than with monitoring investee corporations and accounting for environmental, social and governance risks.

Furthermore, pension funds are currently operating in an environment characterised by economic recession and unstable, and complex, financial markets. Sadly, pension fund finances are now suffering a double financial blow: one from falls in stock markets and another dealt by the economic recession, impacting on cash flows and pension contributions of the sponsoring companies and local authority councils.

According to the latest figures, pension fund funding deteriorated significantly between March 2011 and March 2012 – the funding ratio (assets divided by liabilities) also fell from 100 per cent to 83 per cent (The Purple Book, 2012), putting more pressure on schemes to look for short-term investment returns to improve funding.

Pension funds are also operating in a world of increased human longevity and progressing pension fund maturity. Scientific data shows that life expectancy rose both in men and women: a 65-year-old man retiring today will, on average, live to 89. As a result of increased life expectancy, pension fund liabilities have soared to £1.702.6 billion with pensions deficits rising to £677.3 billion in 2012, from £470.7 billion a year earlier (The Purple Book, 2012).

Pension fund deficits have created a need for pension funds to match assets with liabilities, the so-called Liability Driven Investment (LDI) is putting more pressure on pension funds to rely on the market, volatile as it may be, to address the funding problem. Pension funds are forced to seek more short-term investment solutions, capable of ensuring the continuous flow of investment income into the fund and secure the payment of pensions.

If we are to start tackling this pension issue, we need to account firstly for the complexity associated with current financial markets. Secondly, we need to focus more attention to the responsibilities and accountability of financial intermediaries such as investment consultants advising the trustees and the investment fund managers who manage pension fund assets on their behalf.

With these two actions, we could make some steps towards the much needed change Prince Charles has called for.

Think family

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It would seem that even the big television networks are creating programmes around the concept of ‘the family’.   From The Simpsons, Shameless, Rome, to the Tudors some very popular series have been made.  But why are they getting such great ratings?

Perhaps it’s because everyone can relate to the idea of a family.  But are families the bedrock of society that politicians believe?

One of my research themes that I work on with colleagues – James Cornford and Susan Baines – revolves around the family, and in particular how the government uses information system to ‘think’ family.

As we all know from our own personal lives: the idea of a ‘family’ – never mind the reality – can be very complicated.

Historically, under previous administration public bodies were asked to ‘Think Family’.

This has led to a number of government programmes that have encouraged services to integrate their facilities around families in order to co-ordinate support and intervention. This has led to a range of interests attempting to make sense of what to do about families.

Our research has shown that only when the government starts to grapple with the complexities of the ‘family’ will we really make progress with all sorts of families, including those who need the most support from our society. 

However, this is not a jigsaw where the problem has a boundary and is solved by integrating pieces together.

Different bits of the state see different versions of the family – and different things entirely for one department a jigsaw for another a crossword puzzle.

For instance: schools think family in terms of parenting; social services in terms of potential risk; child support agency in terms of fatherhood; and parts of the NHS in terms of genetics, the police in terms of crime and so on.

Rather like our own families it is the stories (often supported by artefacts such as family albums) and the changes that happen that potentially brings these strands together.

So when we come back to examining what the government is doing with its troubled family agenda, we might ask the questions: what interventions are being delivered, using which version of the family, to which of the family members benefit, and with what accounts?

It is clear that rather than families being the static structures we think about in terms the way a family trees represents them, they are lived projects (rather similar to real trees and their ecologies) which evolve over time. 

So in terms of family policy and practice those thinking about families need to have a more elastic idea of what families are to help those working with them and the families themselves to cultivate the best conversations they can have.

If you have a chance, you can read our recent research paper on the topic by clicking here

Dr Rob Wilson
Director of the KITE Research Centre and Senior Lecturer, Newcastle University Business School

Dr Fiona Whitehurst reflects on the importance of being ‘civic’

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Newcastle University aspires to be a world-class civic university delivering benefits to individuals, organisations and to society as a whole, so it was a delight for the Business School to host Professor John Goddard OBE, Emeritus Professor of Regional Development Studies and former Deputy Vice Chancellor of Newcastle University to speak about his recently published book The University and the City  co-authored with Paul Vallance.

John is a leading proponent of the civic university concept, arguing in a 2009 NESTA Provocation that all publicly funded universities in the UK have a civic duty to engage with wider society on the local, national and global scales, and to do so in a manner which links the social to the economic spheres.

John revealed three tensioned themes emerging from his research – passive local physical, social and economic impacts of universities (campus footprint, student purchasing power, employment generation) vis a vis their active engagement in the development of the city; economic vis a vis more holistic views of engagement with civil society and the ‘external’ civic role of the university vis a vis ‘internal’ processes within the university and state higher education policies that shape these external relations.

John’s distinguishing attributes of a ‘civic university’ are:

  1. It is actively engaged with the wider world as well as the local community of the place in which it is located.  This engagement is achieved through dialogue and collaborations with individuals, institutions and groups locally, nationally and globally.
  2. It takes a holistic approach to engagement, seeing it as institution wide activity and not confined to specific individuals or teams.
  3. It has a strong sense of place.  While it may operate on a national and international scale, it recognises the extent to which is location helps to form its unique identity as an institution.
  4. It has a sense of purpose – an understanding of not just what it is good at, but what it is good for.
  5. It is willing to invest in order to have impact beyond the academy.  This includes releasing financial resources to support certain projects or activities, or to ‘unlock’ external sources of funding.
  6. It is transparent and accountable to its stakeholders and the wider public.
  7. It uses innovative methodologies such as social media and team building in its engagement activities with the world at large.

Plenty of food for thought, especially for a Business School. What does a ‘civic’ business school look like and how well does Newcastle University Business School fit that description?

Those are questions for a later post, but as I was pondering them I came across an article in the Financial Times (15 April 2013) by Della Bradshaw on German Business Schools. She notes that while Germany is the fourth-largest economy in the world, the country has no world-renowned business schools or top-ranked MBA programmes. In the article Robert Wardrop, research fellow in sociology and finance at the Judge Business School, University of Cambridge, ascribes this to the stakeholder value model of German business, which is incompatible with the methodologies that drive most Business School rankings. The MBA rankings tend to have an emphasis on salary maximisation, the traditional US individualist justification for undertaking an MBA. So, another question, does the third of John Goddard’s tensioned themes – the external role of a civic institution vis a vis internal processes and state policies have an added dimension for Business Schools?

Do Business School rankings take sufficient regard of an institution’s ‘civic’ role? In a time of unprecedented societal challenges globally I would like to suggest they should.

Dr Fiona Whitehurst, Director of Accreditation

 

Newcastle University Business School retains its EQUIS accreditation

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Newcastle University Business School is delighted to announce that it has been re-accredited by EQUIS for a further three years. EQUIS accreditation from the European Foundation for Management Education (EFMD) is held by an elite group of only 142 schools worldwide and is held to be one of the best and most complete ways to certify the quality of a business school. The Business School was first accredited in 2010.

Business schools that are accredited by EQUIS must demonstrate not only high general quality in all dimensions of their activities, but also a high degree of internationalisation. EQUIS schools reflect academic quality combined with professional relevance; a strong interface with business; and an effective learning environment that favours the development of students’ managerial and entrepreneurial skills combined with a global perspective.

EQUIS re-accreditation involves an extensive self-assessment by the School, the visit of an international review team who spend several days interviewing many stakeholders of the School, and finally an evaluation by a highly experienced panel of the assessment and findings of the review team, to determine whether the School should be granted accreditation. More information on EQUIS is available at www.efmd.org/equis.

Professor John Wilson, Director of Newcastle University Business School, said “One of my first challenges as the new Director of the School was to host the EQUIS re-accreditation visit last December and I am delighted that we have been successful. The achievement of re-accreditation is testimony to the quality of our staff, students, alumni and partners and provides an ideal foundation for the further development of the School”.

 

Budget reaction from Professor John Wilson

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Penny for your thoughts 

As with any budget, the devil is in the detail.

And after watching today’s Budget for an ‘aspirational nation’, I feel that while the political analysis takes up the margins of our newspapers, as a region and nation we must stick together to make this work for us.

I am a business historian and have analysed many fiscal policies and Budget announcements over the last sixty years; I’ve seen the good, the bad and the ugly.

What is clear from Osborne’s budget today is the need to ‘fix’ our state through monetary activism, supply-side reform and fiscal policy.

From curing the ethics within our banks to attracting new businesses to our shores, as a nation we need to be ensuring that confidence in investment is the foundation on which we build our reformed state.  And how do we get this confidence? Through innovation stimuli, is how. Innovation acts as a bedrock for demand, job creation and, ultimately, assurance in the system that generates real wealth.

Many commentators will be discussing the implications of Osborne’s policies, but I want to talk about what we can control.  And that is our networks and knowledge economy.

As part of a civic university, the Business School needs to work with business and regional policy makers to build an industrial and business strategy that can work for us.  From cutting edge research, leadership and management training to harnessing innovation, the Business School’s doors are open to support the needs of the region to help us grow again.

In this spirit, open collaboration between higher education and businesses can lead to some of the most disruptive and ingenious work: bringing with it vital market share and wealth creation.

The importance of academia, industry and commerce working together as a triple helix for success can also be seen in Heseltine’s review ‘No stone unturned in pursuit of growth’.  And with Osborne’s nod to Heseltine’s suggestion of creating a single funding pot for skills, housing and transport, I am looking forward to further details being released.  Regions need to know how much and when to expect this to be implemented.

Moreover, with emerging business models like employee ownership and cooperatives operating in a rapidly changing business world, universities and businesses need to work together to decide how we can best do things differently.

As Osborne said today ‘Britain is open for business’, but what I would like to stress is that, yes the economic and fiscal policies outlined today will have some impact in the coming months and years, but we are the people who can add value through being ‘truly’ open for business through collaborative networks leading to innovation.

The wonder of Professor Brian Cox and female role models

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Comment by Professor Pooran Wynarczyk:

 I am sure there are few people who don’t know who Professor Brian Cox is but how many have heard of Dr Maggie Aderin-Pocock?

Since 2011 there has been a surge in the take up of science and maths A- Levels, and this has been attributed to the popularity of the physics professor and TV presenter, Brian Cox, a prime example of the effect exposure to positive role models can have. 

And as International Women’s Day approaches I have one message: we must stop focussing on the under representation of women in business, and celebrate the great role models we have to get more women into science, technology, engineering and math (STEM) subjects.

When people asked to name a female scientist, most come up with ‘Marie Curie’. This is not to  deny the fact  that she was truly a  remarkable  woman  but there are many other  women around the world whose  accomplishments  should be made more visible.

I have picked five inspirational women to highlight the great work and impact women are making to our scientific world:

1. Pamela Ann Melroy (Former NASA Astronaut)
2. Maggie Aderin-Pocock (TV Presenter, Do We Need the Moon?)
3. Dr Helen Czerski  (Physicist,    TV Presenter, Orbit: Earth’s Extraordinary Journey)
4. Professor Alice Roberts (Anatomist, Author and  TV Presenter,  Incredible Human Journey) 
5. Dr Aarathi Prasad (Former research scientist in cancer genetics who now works in science policy and journalism)

A key area of my research interest – or rather a ‘wonder’ – is the reasons behind the gender divide in the take up of STEM subjects.  And from my and many others’ research one key reason is clear: a severe lack of visible female role models. 

An issue at the heart of the debate over the gender divide in STEM subjects is the portrayal of female role models: they are largely invisible, and have been for a long time. 

We need to open our eyes and see the adverse effect negative labelling of women in scientific and technological fields, and in turn the lack of female role models, is having on the current labour market. A lack of exposure, as well as a lack of genuine representation, risks a very dangerous self-fulfilling prophecy. That is to say, if we focus too much on under-representation, we miss the opportunity to inspire the next generation through shining examples of women in science and technology.

Existing research claims that exposure to positive  role models during the critical junctures, i.e. earlier years of education, has a positive influence on self efficacy and, hence, inspiring future career choices. 
Female role models are incredibly important as they allow individuals to showcase their achievements and could encourage more girls to get involved in business – especially in areas such as science and technology which have traditionally been associated with men.
 
More often than not, the news that is hitting the headlines focuses on gender imbalance, stereotype beliefs and the under-representation of women in business. This in itself can mask advancements that are being made, which in turn discourages women from reaching high positions beyond the glass ceiling.  

If existing women scientists continue to remain largely ‘invisible’ and not seen to be enjoying a rewarding and progressive career, combined with being unrecognised for their contribution to scientific and technological advancement, they are unlikely to be able to act as role models and serve the purpose of further recruitment and retention.

Some may argue that by highlighting the under-representation and barriers to participation for women entering STEM subjects and careers, aids awareness and policy making. 

I would say that this provides little support to those employed, or planning to enter STEM   professions. On the contrary, it can have an adverse effect, and may actually discourage girls and women from pursuing education and careers in these fields.

My research has revealed the ambitious, invisible, female role models that can be engaged to promote a greater uptake of women in science, technology, engineering and mathematics.

And with International Woman’s Day in mind, I want to call out for more inspirational woman to seize the spot light like Brian Cox. 

Who would make your top five?

 

Newcastle University Business School announces David Goldman professors of innovation and enterprise

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A duo of enterprising talent has been appointed as the Business School confirms its chairs in innovation and enterprise

An innovation guru with unrivalled experience in building the world’s biggest brands, Professor Roy Sandbach is set to be the 10th David Goldman Visiting Professor of Innovation and Enterprise: continuing the tradition of the David Goldman endowment’s highly regarded contribution to enterprise and innovation in the region.

The David Goldman endowment was established at the Business School in 2001 to create a legacy in memory of David Goldman, founder of software company Sage Group Plc. Professor Roy Sandbach is to be welcomed to the Business School as the 2013-14 Goldman Visiting Professor, at his inaugural lecture on 13 March.

It is almost certain that you will use everyday products at home that were conceived and developed by Professor Roy Sandbach. For over 30 years he has led global innovation programmes at Procter and Gamble (P&G), the $80BN multinational and the biggest consumer products company in the world.

Beyond the realms of P&G, Roy brings his skills to bear across the business, science, design and education sectors throughout the UK.

Currently, he leads business engagement for the Centre for Competitive Design at Cranfield University. Roy’s lifelong commitment to science remains strong, he is: a Trustee at Newcastle’s Centre for Life; sits on the Industry Council of the Royal Society of Chemistry; and is a business ambassador for NetPark, the hi-tech science park in County Durham. He is also a non-executive director of NCFE, the national qualifications body, and a governor at Seaton Burn College.

In March he will take the David Goldman Visiting Professor reins from James Timpson OBE, chief executive of the family firm Timpson Group.

Professor Roy Sandbach said:

“I am honoured to accept the David Goldman Visiting Professorship. It offers a wonderful opportunity for me to share broadly my knowledge of strategic business innovation to support enterprise for wealth-creation and social benefit. It is a particular pleasure for me to be able to do this in my home region, among friends and at the university where I gained my Ph.D. Most of all, it will be an honour to build on the legacy of David Goldman.”

The Goldman Endowment funds: a permanent Professorship role within the Business School; the David Goldman Visiting Professor of Innovation and Enterprise; a David Goldman Doctoral Studentship, and the Annual David Goldman Lecture.

The Business School has also announced that its new, permanent David Goldman Professor of Innovation and Enterprise is Savvas Papagiannidis.

As an alumnus of the University, with over 16 consecutive years of studying at the University, Savvas has achieved two PhDs, two Masters, and founded three e-businesses.

Professor Papagiannidis’ research interests lie in the e-business discipline, where he aims to investigate how e-business technologies affect social and business environments, organisational strategies and underpinning business models, and how these are implemented in terms of functional innovations.

Professor Papagiannidis said:

“I am delighted with my new role as the permanent David Goldman Professor of Innovation and Enterprise. 

“I hope that in my new position I am able to make an impact by leading the development and delivery of the innovation and enterprise agenda of the Business School, by encouraging sustainable relationships with internal and external stakeholders.

“I am looking forward to welcoming Professor Roy Sandbach to the Business School.  As an expert in open innovation, brand building, and networking for competitive advantage, Roy’s high- calibre career is one that makes him very suited to the demands of this visiting professorship.”

David Goldman Visiting Professor 2012-13, James Timpson OBE said:

“This role is all about imparting knowledge and more importantly, inspiring enterprise.  However, it isn’t a one-way process: I have also been educated by the students and businesses I have met over the past 12 months.  It has been a great experience, and I am delighted to have been given such an esteemed role. 

“I wish Roy a very enjoyable and educational year!”

If you would like to book your free ticket to the Goldman Lecture please email: bsevents@ncl.ac.uk

 Past David Goldman Visiting Professors of Innovation and Enterprise:
2012- 2013 – James Timpson, OBE, chief executive of Timpson Group
2011-2012 – Tom Maxfield, entrepreneur and former Sales Director for Sage Group
2010-2011 – Will Dracup, founder and chairman of Nonlinear Dynamics
2008 -2010 – Dr Tony Trapp, chairman of IHC Engineering Business.
2007-2008 – Fiona Cruickshank, co-owner and director of SCM Pharma.
2006 -2007 – Paul Callaghan, chairman of Leighton Group.
2005 – 2006 – Chris Thompson, managing director of Express Group.
2004 – 2005 – Mark I’Anson, technology entrepreneur.
2003 – 2004 – Paul Collard, chief executive at Creativity, Culture and Education

Gateshead students take the chequered flag at F1 in Schools North East England Regional Finals 2013

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Newcastle University Business School hosted this year’s regional finals, which saw a team of students from Emmanuel College, Gateshead, celebrate a win.  The winning team are through to the F1 in Schools™ UK National Finals after an intense and hard-fought North East England Regional Finals. This Formula One™ inspired educational challenge has captured the imagination of students up and down the country and with a place on the grid at the F1 in Schools World Finals 2013 to be held in Austin, Texas for the UK National Champions, every team put in hundreds of hours of work in their pursuit of the prize.
 
Red Kite Racing, a team from Emmanuel College with team members: Emily Miller, Team Manager, Elliott Johnson, Design Engineer; Jack Collier, Design Engineer and Rhys Rogers, Manufacturing Engineer, proved that hard work pays off as they collected the 1st Place F1Class trophy, as well as the Best Engineered Car Award and Fastest F1 Car Award, with the team’s car racing down the track in a time of 1.166 seconds.
 
Elliott Johnson said of the team’s success, “I think we took the top award because there was a lot of teamwork, working to our strengths, many hours of hard work put into our design, our presentation and sponsorship. Now we’re looking to the National Finals and hoping to improve our design for it. It’s a once in a lifetime opportunity to be going there, so we’re really looking forward to it.”
 
Red Kite Racing were one of three teams who raced to victory at the Regional Final and will be representing their school at the F1 in Schools UK National Finals which takes place at the Big Bang Fair, ExCel, London on 15 and 16 March.
 
F1 in Schools challenges students to create their own Formula One team which is commissioned to design, construct and race the fastest miniature Formula One Car of the Future; a 21cm long scale model built from a block of balsa wood and powered by a compressed air cylinder. Each team of between three and six students creates a ‘pit’ display at the Regional Final and showcases their work in developing their race car, with a verbal and written presentation for the judges. The teams then race their model cars on a specially designed 20 metre test track, with the cars covering the distance in just over one second.
 
The competition links closely to the research of Professor Pooran Wynarczyk, of Newcastle University Business School, who studies gender within innovation, and the uptake of STEM subjects. 
 
Professor Pooran Wynarczyk, director of the Small Enterprise Research Unit at Newcastle University Business School, commented:
 
“Working with the F1 in Schools UK team to host the regional finals at the Business School is a highly valuable exercise, as it brings together research and practical learning to enhance a young person’s education.
 
“My research is all about encouraging, and increasing the uptake of, young people into the areas of Science, Technology, Engineering and Mathematics (STEM), and allowing them to realise the potential careers, and paths to such careers, that sit within these subject areas.
 
“It’s always an enjoyable and exciting atmosphere at the event for everyone, and we hope the activities of the day translate into a buzz of new ideas and enthusiasm, from the pupils, towards STEM subjects and activities.”

In addition to representing their country at the World Finals, the F1 in Schools UK Champions and runners up will receive tickets to the 2013 FORMULA 1 BRITISH GRAND PRIX at Silverstone. The National Champions will also win a Red Bull Racing F1 team factory tour and a TW STEEL Watch for each team member.
 
Andrew Denford, Founder and Chairman, F1 in Schools, said of this week’s North East England Regional Finals, “We’re experiencing significant growth in the schools entering the challenge this season and the standards are extremely high. The students had to cope with the nerves of presenting to a panel of judges and the pressures of putting their models to the test against the best of the region and all the teams put up a great fight, with only a few points separating the top contenders for a place at the National Finals”.
 
Denford adds, “The challenge not only tests the students in many key areas of educational study such as the STEM subjects, but gives them an opportunity to gain experience of many life skills which will be invaluable in their future careers.”
 
The North East England regional finals took place with the assistance of a host of sponsors and supporters. Amongst these are the IET, Denford, and City University London all of whom are continuing their support of F1 in Schools for the coming year.

Photos from the day can be found by clicking here >

 

Oral health gap research receives funding boost

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Newcastle University Business School is leading research into the long-term imbalance in the UK’s oral health after being awarded an ESRC (Economic and Social Research Centre) grant.

Newcastle University experts are to help tackle oral health inequalities in Britain.

The team will be investigating inequalities in dental care and dental provision in a bid to help narrow health gaps among social groups.

With £200,000 of funding from the ESRC a team of academics from Newcastle University, in collaboration with University College London (UCL), and the National Centre for Social Research (NCSR) hope their findings will influence national and international health policy.

Using the Adult Dental Health Survey (ADHS) from 1988, 1998 and 2009, this 18-month study will inform academics and policy makers on how inequalities change over time, while also providing a vital benchmark to monitor inequalities in the future.

The scope of the research will fall into four main areas: to measure the level of socioeconomic inequalities and to decide what aspects of oral health to measure; to investigate health behaviours, dental service provisions and the interaction between oral health behaviours and the care provided; how these social and economic influences can lead to inequalities; and finally, to investigate the trends in oral health inequality over a 21 year period. 

Newcastle University Business School’s Professor of Health Economics, John Wildman, said: “We are aware of the lack of detailed research in this area of health, and aim for this research to lead and provide a template for future investigations into oral health inequality.

“It is hoped that this research will highlight where policy makers and practitioners can combat health inequalities specifically related to wealth, education or social position. Making the UK society fairer and healthier.”

Co-investigator Jimmy Steele CBE, clinical professor from the School of Dental Sciences and the person behind the Independent review of NHS dentistry in England in 2009, said:  “This collaboration will examine one of the crucial areas as we go forward. Dental health and access to dental health care has improved hugely in the last decade but not for everyone, everywhere.

“We will be seeking to determine why there are big differences, where best practice is and how that can be implemented across the country.”
Research team:

The team of researchers come from a range of backgrounds including: economics, public health and clinical dentistry. 
Principle investigator:
Professor of Health Economics, John Wildman, Newcastle University Business School
Co investigators:
Professor Jimmy Steele, from Newcastle University’s School of Dental Sciences, and Dr Jing Shen from Newcastle University’s Institute of Health and Society.
Three academics from University College London are also on the team: Professor Stephen Morris, Dr Richard Watt, and Dr Georgios Tsakos.
Finally, Elizabeth Ann Fuller will work on the project, and she is from the National Centre for Social Research. 

About the ESRC

The Economic and Social Research Council (ESRC) is the UK’s largest organisation for funding research on economic and social issues. It supports independent high quality research which has an impact on business, the public sector and the third sector. The ESRC’s total budget for 2012/13 is £205 million. At any one time the ESRC supports over 4,000 researchers and postgraduate students in academic institutions and independent research institutes.

 

100% of placed Newcastle University Business School students are rated as effective team members by employers

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Commercial placements helped 98% of placed graduates to a first class or 2:1 degree

Students from Newcastle University Business School have been given top marks by a range of employers based worldwide, and have gone on to achieve first class or 2:1 degree classifications. A recent survey of employers working with Business School placement students revealed that 100% of students were conscientious, showed initiative, were effective team members and over 70% of employers indicated that the students exceeded their expectations.

New statistics from the Business School also reveal that a staggering 98% of recent graduates who undertook a 12-month placement between their second and third year of study received a first or a 2:1 degree classification. 

The Walt Disney Company, Nissan, Estee Lauder, and Microsoft are just some of the global giants that welcomed students from the Business School on a 12-month placement opportunity, and the recent figures are among the strongest ever received since the Business School’s placement initiative was launched.

Placement opportunities promoted by the Business School give students the right type of environment and support to apply their academic theory while gaining valuable employability skills.

The types of roles available to the students vary, depending on what the organisation requires, and the skills and interests of the students.

Business School student, Sakshi Grover, commented on her placement at international organisation IBM:

“I believe the time on my placement helped me to develop as a strong individual and I’ve seen many positive changes in myself.  The year has been a great success; the steepest learning curve I have experienced so far!”

Marketing manager at Bel Valves, Alison Ennis, commented on the Business School students that were placed with them:

“We have been extremely encouraged by the aptitude displayed by the marketing placements we have taken on recently. Within a very short period of time the students contributed significantly to the departmental goals demonstrating not only a ‘no nonsense’ approach to applying marketing theory but also an impressive level of confidence and initiative.

“In return we aim to offer the students opportunities to experience international marketing practice in all its guises from research and statistical analysis to creative design, customer liaison and event management.”

Ernst & Young’s Nigel Burgess counselled Business School student Tom Holroyde during his commercial placement and commented on his time with the company:

“Tom has shown great “people” skills and has built an excellent working relationship with his clients.  He performed his work to a high standard; remained professional at all times and was an ambassador for Ernst & Young and our values.”

Nicola Burnip, placement officer at Newcastle University Business School said:

“In the increasingly competitive higher education and labour market we want to ensure that, as a business school, we are doing all we can to prepare our students for the world of work.

“These recent statistics reveal the hugely positive impact a placement can have on a degree: a rounded experience of both theory and practice enables students to respond to academic questions with a commercial outlook. Something you cannot learn from a textbook. 

“Students get the chance to go anywhere in the world, however we ensure regional businesses benefit from the initiative, with a quarter of all placement opportunities taking place in the North East.

“The enthusiasm and positivity that a placement student can bring to a work-place can be invaluable. As students adapt to their working environments, they provide a refreshing new perspective to solving problems, displaying creativity and using their initiative.

“The majority of companies that have offered placements in the past continue to work with the Business School on an annual basis as they know that they are gaining a person who is knowledgeable, driven and, most importantly, eager to learn.”

If you think your organisation could benefit from employing a highly competent Business School student for 12 months please contact Nicola Burnip by phoning 0191 208 1632 or emailing nicola.burnip@ncl.ac.uk.