Aarhus symposium annual report 2017 by Aarhus Symposium

ANNUAL REPORT 2017

LEADERS OF TODAY CONNECTING WITH LEADERS OF TOMORROW

THE ORGANISING COMMITTEE OF AARHUS SYMPOSIUM 2017

STEERING COMMITTEE

IT GROUP

Jacob Ankjær Weinrich Rasmussen Nikolaj Birch Gjøde

Moma Vujisic (Head of Group) Edvard Philo Målsnes (Senior Organiser) Jeppe Borg Kristensen

UNIVERSITY ALLIANCES

FINANCE GROUP

Mads Meinertz Carlslund (Head of Group) Asger Louie Pedersen (Senior Organiser) Kathrine Emilie Amby

Christian Elmkjær Andersen (Head of Group) Niels Mertz Poulsen (Senior Organiser) Jørgen Duvald Andersen

BUSINESS RELATIONS GROUP

PROGRAMME GROUP

Lene Larsen (Co-Head of Group) Kasper Tuborgh (Co-Head of Group) Nikolaj Husum (Senior Organiser) Jonathan Steenmetz Simon Egested Rank Larsen

Camilla Taulbæk (Head of Group) Per Winterberg (Senior Organiser) Mai Gøtzsche Lasse Dahlstrøm Jensen Morten Hvidbak Holst Anne Sofie Bjørn-Thygesen (Support Crew)

MARKETING GROUP

ESSENTIALS GROUP

Lucia Talia Schandorff (Head of Group) Jonas Pilgaard Kaiser Cecilie Andersen (Graphic Designer) Fatemeh Bak (Graphic Designer) Ida Hauritz Frederikke Havgaard Jakobsen Martin Møller Vilhelmsen Sacha Rejnholt Ajzenman (Support Crew) Emil Elholm (Support (Crew)

Kristian Mørck Lohmann (Head of Group) Anne Sofie Andersen Mai Merrild Thomas Kring Sophie Bjørn Jensen Helene Frehr Carstensen (Support Crew) Rebekka Hansen (Support Crew)

NAME

CVR

Aarhus Symposium

33735782

ADDRESS

AUDITING PERIOD

Aarhus Symposium Studenterlauget, Building S, Floor 4 Fuglesangs Allé 4 8210, Aarhus V Denmark

January 1, 2017 - December 31, 2017

WEBSITE www.aarhus-symposium.org

EMAIL mail@aarhus-symposium.org

EDITORS Christian Elmkjær Andersen Jørgen Duvald Andersen Niels Mertz Poulsen Jacob Ankjær Weinrich Rasmussen Mai Gøtszche Per Winterberg Nikolaj Birch Gjøde

GRAPHIC DESIGN Fatemeh Bak

CONTENTS 01

LETTER FROM THE CHAIRMAN OF THE BOARD

BOARD OF DIRECTORS’ STATEMENT

INDEPENDENT AUDITORS’ REPORT

MANAGEMENT’S COMMENTARY

THE VISION OF AARHUS SYMPOSIUM

THE CONCEPTS OF AARHUS SYMPOSIUM

LEADING THROUGH CHANGE

AARHUS SYMPOSIUM FOCUS 2017

AARHUS SYMPOSIUM CHALLENGE 2017

EMBRACING THE FUTURE WITH ARLA

ORGANISATION AND GOVERNANCE

THE ORGANISING COMMITTEE

ACCOUNTING POLICIES

INCOME STATEMENT

BALANCE SHEET

EQUITY

ACCOUNTING NOTES

LETTER FROM THE CHAIRMAN OF THE BOARD

hroughout 2017, Aarhus Symposium delivered an impressive line of inspiring events with the purpose of connecting leaders of today with leaders of tomorrow. It is with great honour and delight that I present these final words on a successful Aarhus Symposium 2017.

By attracting true top leaders within business and society at large and gathering the most ambitious and talented students from all over Denmark, the Organising Committee of Aarhus Symposium has yet again raised the bar in the planning and execution of this year’s events. On the speaker side, among others were Margrethe Vestager, European Commissioner for Competition, and Bjarne Corydon, Global Director of McKinsey Center for Government, who provided insightful perspectives on this year’s theme, “Leading Through Change”. Prominent speakers from abroad such as Janina Kugel, Chief Human Resources Officer and Member of the Managing Board at Siemens, and Helle Valentin, COO of Watson Internet of Things at IBM, gave their insights on how to lead the employee of tomorrow and how developments in the Internet of Things can change the way we lead today. Since its origin in 2013, Aarhus Symposium Challenge has developed to become the main sign-up for participants. This year’s Organising Committee has, however, succeeded even further by ensuring a record-high participation in the essay competition. For the first time ever, all participating students at Aarhus Symposium and Aarhus Symposium Focus claimed their seat by sharing their thoughts in an essay on one of three specific topics in Aarhus Symposium Challenge. A milestone for the organisation, as this secures that the most dedicated and brightest students participate in the dialogues with the leaders of today. Students from all major universities in Denmark, and even students from Germany and Sweden, found their way to this year’s symposium through Aarhus Symposium Challenge. In 2017, the Organising Committee set up a new scope and structure for the event Aarhus Symposium Focus. In seeking to connect leaders of today with leaders of tomorrow through an academic discussion of Denmark’s most urgent challenges, four speakers with different backgrounds took part in Aarhus Symposium Focus 2017. Among the speakers was Dennis Novy, Associate Professor in Economics at Warwick University, who shared his insights on how Denmark can remain a strong open economy in a closing world. Christian Friis Bach, former Under-Secretary-General of UNECE, said that further investments in health and education ought to be the long-term Danish response to the current backlash against globalisation. By focusing on the theme “Globalisation in Reverse – the Danish Response”, Aarhus Symposium Focus provided students with key insights on a sub-topic of this year’s overall theme before attending Aarhus Symposium. As the next generation of Aarhus Symposium Organisers take over the helm, new ideas will be developed and old ones will be improved. As Aarhus Symposium 2017 comes to its conclusion, Aarhus Symposium 2018 is hitting the ground with a running start. We, the Board of Directors of Aarhus Symposium, are confident that the organisation will reach new heights yet again in the year to come.

On behalf of the Board of Directors of Aarhus Symposium,

Philipp Schröder, Chairman of the Board of Directors of Aarhus Symposium

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BOARD OF DIRECTORS’ STATEMENT

he Board of Directors have today considered and approved the annual report for the financial year January 1 through December 31, 2017.

The annual report is presented in accordance with Danish generally accepted accounting principles. In our opinion, the financial statements give a true and fair view of the financial position on December 31, 2017 and of the financial performance for the financial year January 1 to December 31, 2017. In our opinion, the management review contains a true and fair view of the affairs and conditions referred to herein. We recommend that the annual report be adopted at the annual general meeting. Aarhus, March 2, 2018

Philipp Schröder Jens Bjerg Sørensen

Michael Svarer Peter Engberg Jensen

Kasper Vinther Olesen

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Jens Riis Andersen

I was impressed by the professional setup and was met with very engaged students before, during, and after the session. An overall good experienceâ&#x20AC;? Steen Borgholm, CEO at ECCO

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF AARHUS SYMPOSIUM

OPINION We have audited the financial statements of Aarhus Symposium for the financial year 01.01.2017 31.12.2017, which comprise the income statement, balance sheet and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.

In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2017 and of the results of its operations for the financial year 01.01.2017 - 31.12.2017 in accordance with the Danish Financial Statements Act.

BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditor’s responsibilities for the audit of the financial statements section of this auditor’s report. We are independent of the Entity in accordance with the International Ethics Standards Board of Accountants’ Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In preparing the financial statements, Management is responsible for assessing the Entity’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exits. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

•

MANAGEMENT’S RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

•

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Entity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures in the notes, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Klaus Tvede-Jensen State-Authorised Public Accountant MNE-number: 23304

STATEMENT ON THE MANAGEMENT COMMENTARY Management is responsible for the management commentary. Our opinion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the management commentary is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the management commentary.

Aarhus, 02.03.2018

DELOITTE Statsautoriseret Revisionspartnerselskab Business Registration No 33 96 35 56

Mads Fauerskov State-Authorised Public Accountant MNE-number: 35428

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MANAGEMENT’S COMMENTARY

s another financial year comes to an end, it is time to reflect on the activities of Aarhus Symposium during the past year. It is with great satisfaction that we, the Steering Committee of Aarhus Symposium 2017, look back on the planning and execution of yet another successful Aarhus Symposium.

The Organising Committee of 2017 has had one main goal: to, above all, strive to connect leaders of today with leaders of tomorrow and thereby seek to fulfil the vision of Aarhus Symposium. In 2017, several initiatives have been put into place in order to lead the organisation towards this goal.

LEADING THROUGH CHANGE Under the theme “Leading Through Change”, the Organising Committee invited an exciting and diverse line-up of speakers to participate in Aarhus Symposium 2017. From leaders of successful global businesses and institutions to entrepreneurial startup companies, true leaders of today shared their thoughts on how to lead people and organisations through a rapidly changing world. The programme of Aarhus Symposium 2017 consisted of more international speakers than ever before, including Janina Kugel, the CHRO of Siemens, a leader with first-hand experience from leading more than 350,000 employees in an industry defined by constant technological change. Futhermore, this year, Aarhus Symposium had the honour of welcoming European Commissioner Margrethe Vestager, who shared her perspectives on how to lead positive change through balancing corporate interests with the well-being of citizens.

This year’s theme has been the epicentre of all work done by the Organising Committee of 2017. On May 2, “Leading Through Change” was revealed as the theme of this year’s symposium, and the students were given a unique chance to delve into the theme from an early stage. In conjunction with our Theme Announcement, the event Embracing the Future with Arla was held in collaboration with our Premium Partner Arla Foods. Here, CMO Hanne Søndergaard gave Arla Foods’ perspective on “Leading Through Change”, and students were given the chance to connect with one of the largest dairy companies in the world. Futhermore, Aarhus Symposium Focus successfully pinned down this

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year’s theme. By taking up the theme “Globalisation in Reverse – the Danish Response”, the discussion was concentrated on a Danish and more academic view on “Leading Through Change”. On October 31, four prominent speakers were invited to share their insights on how Denmark should face the challenges created by the current backlash against globalisation in public opinion many places in the world. In this way, “Leading Through Change” has dovetailed the ongoing activities of Aarhus Symposium throughout the entire year.

DIVERSIFYING THE GROUP OF LEADERS OF TOMORROW Aarhus Symposium 2017 marks the first time where all participants claimed a seat at the symposium by submitting an essay through our essay competition, Aarhus Symposium Challenge. This year, three challenges were put forward by Janina Kugel, CHRO, Siemens, Helle Valentin, Global COO, IBM Watson Internet of Things, and Bjarne Corydon, Global Director, McKinsey Center for Government, which in different ways addressed various current global issues. In their essays, the participating students shared their ideas on topics ranging from using AI to improve public health across the globe to how millennials are motivated in the future labour market. This year’s participants comprised the most diverse group of leaders of tomorrow ever attending Aarhus Symposium. With a record-high number of Danish students from outside Aarhus as well as the first participants from Sweden and Germany ever, the interest in Aarhus Symposium has never been higher.

PERSONAL OWNERSHIP: A BUILDING-BLOCK FOR SUCCESS As Aarhus Symposium grows ever-more ambitious year after year, constantly rethinking internal processes has been vital for us to allow for new exciting ideas to come to life. With a dedicated focus on optimising internal processes, our aim has been to create a unique feeling of ownership among Organisers as a stepping-stone to make Aarhus Symposium reach new heights. In the hope of creating a solid foundation for the organisation’s work in the year to come, various initial preparations have already been started for 2018. Thus, the theme of Aarhus Symposium 2018 has been decided upon earlier this year in collaboration with experienced alumni of the organisation. Also, new Organisers have been included in the organisation at a late stage in order to ensure as many ties as possible from this year’s Organising Committee to the next.

FINANCIAL RESULTS Aarhus Symposium 2017 generated net profits of DKK 1,735 from a total revenue of DKK 635,182. Aarhus Symposium being a non-profit organisation, this is viewed as a very satisfying result. The profits generated in 2017 are suggested to be transferred to equity as retained earnings. This will ensure further consolidation of the organisation’s financial situation without raising equity to an inappropriately high level.

the leaders of tomorrow as well as everyone who have been part in making Aarhus Symposium 2017 reality. We would like to thank the ambitious participating students from all over Denmark, Germany, and Sweden for your interest in challenging leaders of today. Also, we wish to thank Aarhus University and Aarhus BSS for invaluable support throughout the year. We would also like to thank this year’s speakers, Premium Partners, Sponsors and foundations, product partners, supporting student organisations, and other collaborating institutions. Aarhus Symposium 2017 would not have been possible without your dedication and engagement. Last but not least, we would like to express a very special thank you to the dedicated volunteer students comprising the Organising Committee of Aarhus Symposium 2017. We could not be more proud of the achievements created by this highly talented group of Organisers. It is with great excitement that we are looking forward to experiencing how next year’s Organising Committee will raise the bar yet again, and how Aarhus Symposium will develop in the years to come.

Thank you for a great Aarhus Symposium 2017!

THANK YOU On a final note, we, the Steering Committee of Aarhus Symposium 2017, wish to express our sincerest gratitude to both the leaders of today and

THE STEERING COMMITTEE OF AARHUS SYMPOSIUM 2017

Nikolaj Birch Gjøde

Jacob Ankjær Weinrich Rasmussen

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THE VISION OF AARHUS SYMPOSIUM Our vision defines the overall aim of Aarhus Symposium. It acts as a guiding star for the organisation and expresses the ambition of every organiser of Aarhus Symposium:

WE AIM AT DELIVERING THE BEST PLATFORM FOR STUDENTS TO CONNECT AND INTERACT WITH TODAYâ&#x20AC;&#x2122;S LEADERS ON CHALLENGES AND SOLUTIONS OF TODAY AND TOMORROW Hence, the core foundation of Aarhus Symposium is to bridge the gap between professional experience and academic curiosity. This is done by bringing together the brightest students and the most influential decisionmakers in business and society enabling a discussion between leaders of today and leaders of tomorrow.

To achieve the above, we strive to uphold the following values:

We always seek to inspire by focusing on current global challenges of interest to both leaders of today and tomorrow.

We always seek perfection in everything we do, acting as a truly ambitious organisation.

We always seek to challenge the way we work in order to continue to improve our platform for connecting leaders of today with leaders of tomorrow.

Putting all this together leads to:

LEADERS OF TODAY CONNECTING WITH LEADERS OF TOMORROW

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SammenhĂŚngende billede med nĂŚste side

THE CONCEPTS OF AARHUS SYMPOSIUM AARHUS SYMPOSIUM Aarhus Symposium is an event of extraordinary class with the aim of connecting students, the leaders of tomorrow, with today’s leaders and key decision-makers. To accomplish this, an annual symposium is held in the inspiring surroundings of Aarhus University. Here, speakers are invited to share their insights and experiences regarding a theme of relevance to leaders of both today and tomorrow. The participating students and speakers engage in dialogues and discussions, achieving the main purpose of the organisation: to connect leaders of today with leaders of tomorrow. As such, Aarhus Symposium constitutes a visionary learning space for students and top leaders alike.

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FOCUS

Aarhus Symposium Focus zooms in on a national perspective on the overall theme of Aarhus Symposium. At Aarhus Symposium Focus, leaders of today and leaders of tomorrow engage in a discussion about a topic reflecting some of Denmark’s most important challenges. Aarhus Symposium Focus is an inspiring event that takes place on Monday in the week of Aarhus Symposium. Speakers at Aarhus Symposium Focus allow students to gain key insights on a theme of national interest, offering the most curious students to delve deeper into the theme of Aarhus Symposium. At Aarhus Symposium Focus, speakers with different backgrounds in terms of education and work experience engage in dialogue and debate orchestrated by an experienced moderator.

AARHUS SYMPOSIUM CHALLENGE Aarhus Symposium Challenge is an essay competition with the purpose of ensuring that the seats for Aarhus Symposium and Aarhus Symposium Focus are given to the most ambitious students. This year, for the first time, all participants of Aarhus Symposium and Aarhus Symposium Focus contributed with their thoughts by submitting essays. The students with the most innovative and extraordinary essays have the unique opportunity to engage in a dialogue in Leaders’ Forum with the top leader who has proposed the challenge which the students have taken up. This is an exclusive chance to discuss global issues with true leaders of today. The student with the most outstanding essay will be rewarded with the Aarhus Symposium Award on stage at Aarhus Symposium.

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LEADING THROUGH CHANGE THE THEME OF AARHUS SYMPOSIUM 2017

hange encompasses nearly every aspect of life, keeping the world in a constant state of fluctuation. But what does it mean to undergo change? How are individuals, companies, and public institutions influenced by changing conditions? What can leaders do to accommodate change and thus reach the full potential of their organisations?

Whether desirable or not, change is a phenomenon which every leader must relate to. On one hand, leaders hold the power to facilitate change; on the other hand, they are faced with shifting trends that can alter the game rules fundamentally. Aarhus Symposium 2017 delved into the great complexity of change within four different areas represented by the tracks: New Markets?, New Society?, New Consumers?, and New Technologies?.

NAVIGATING A SMALLER WORLD Globalisation and international cooperation have moved countries closer, enabling companies to grow beyond borders. However, to enter new markets successfully, leaders must possess a delicate feeling of how and when to act. Operating in new markets poses both great opportunities along with challenges of varying extent. At Aarhus Symposium 2017, Steen Borgholm, CEO at ECCO, elaboPROFILE rated on how to handle as well as take advantage of the shifting circumstances: “Being a global company in 87 markets, globalisation is really one of the key drivers of our success at ECCO because we today have a risk-balanced market portfolio.” Although a Danish company, the European market comprises less than 40 per-cent of ECCO’s total sales. This means that risks are reduced significantly due to international trade opportunities. Concurrently with companies entering and operating in global markets, increased international control and regulation is needed to make sure that globalisation comes to benefit the individual citizen. On the day of the event, Margrethe Vestager, European Commissioner for Competition, carefully emphasised the importance of exactly this: “Competition is what drives businesses… to know and respect exactly that if I do not deliver in my business, my customers will go somewhere else.” By extension, she made the point: “It matters that you know that no one is above the law… That the business where you work, where you can see that sometimes things are difficult, also have a fair chance of making it…”

DIGITALISATION AS A THREAT AND AN INSTRUMENT The pace at which technological developments advance is unprecedented. As a result, individuals as well as organisations face faster shifting conditions than ever. By making appropriate leadership decisions as to how and when to implement new technologies, both companies and public institutions can optimise internal processes and thus increase productivity. Eventually, this will have a positive influence on consumers as well. However, as Helle Valentin, Global COO of Watson Internet of Things at IBM, emphasised at Aarhus Symposium 2017, it is important to keep privacy in mind: “With all these connected devices, there is a lot of data floating around today. I think that you as a powerful consumer can make a difference and I will ask you to be a conscious consumer going forward. Ask the companies that provide services to you to be transparent.” Thus, not only did the track New Technologies? provide insights into the countless opportunities posed by innovation, but also pieces of advice on how to be aware of change as a consumer. To be successful in any industry or society, leaders must excel at leading through change. However, as carefully emphasised at the event, this is a complex task. The speakers at Aarhus Symposium 2017 shared their personal experiences on how they are influenced by change. From these inspiring talks, it is evident that change is fundamentally embedded in leadership.

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A LOOK AT THE PROGRAMME OF AARHUS SYMPOSIUM 2017 ARLA AUDITORIUM

CARLSBERG AUDITORIUM

JYSKE BANK AUDITORIUM

Photo by Trine Søndergaard

MARGRETHE VESTAGER

JESPER KUNDE

BO NILSSON

JANINA KUGEL

STEEN BORGHOLM

OLE LUND HANSEN

HELLE VALENTIN

THEIS SØNDERGAARD

LARS ROHDE

BJARNE CORYDON

JACOB GRAM ALSING

DOMINIK BÖSL

PROFILE

NEW MARKETS?

NEW SOCIETY?

NEW CONSUMERS?

NEW TECHNOLOGIES?

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GLOBALISATION IN REVERSE - THE DANISH RESPONSE THE THEME OF AARHUS SYMPOSIUM FOCUS 2017

EXPLORING AARHUS SYMPOSIUM FOCUS

Aarhus Symposium Focus 2017 was only the second such event after the renaming of Battle of the Economists in 2016. The new scope of the Aarhus Symposium Focus concept provided a host of exciting opportunities to build upon the solid foundation created in previous years. While the academic depth and focus on national challenges of the concept remained strong, the format of the event itself was rethought in 2017. One of the biggest changes from previous years was inviting an additional speaker, now welco-

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ming four speakers to Aarhus Symposium Focus. Furthermore, the panel of speakers was deliberately chosen to cover different academic backgrounds as well as relevant practical experience to ensure a nuanced and rich discussion of this year â&#x20AC;&#x2122;s theme. Including a fourth speaker led to a new format ensuring greater interaction among the speakers, as no less than two speakers were on stage at any given time during the three sessions. These changes were part of a structured effort to ensure a rich discussion containing as broad perspectives as possible.

DENMARK AS AN OPEN ECONOMY IN A CLOSING WORLD

The theme of Aarhus Symposium 2017, Globalisation in Reverse – The Danish Response, explored Denmark’s position in a new global political environment. Several elections during the past years showed that large groups of citizens in Western countries feel left behind in a rapidly changing world. This threatens the steady increase in international cooperation and economic integration, that we have come to know during the past several decades. As a small open economy heavily reliant on international trade, Denmark must formulate a viable strategy for navigating these new conditions. The crucial question, which was asked to participants and speakers at Aarhus Symposium Focus 2017, was: What is the Danish response to these challenges?

IDENTIFYING THREATS AND THE DANISH RESPONSE TO THEM

The four speakers Edward Ashbee, Christian Friis Bach, Thomas Schulz, and Dennis Novy each shared their perspectives on the current state of globalisation as well as how Denmark could best prepare for the future. Moderating the discussion for the fifth consecutive year, Thomas Bernt Henriksen opened the event by asking the students through a poll, what phenomena connected to Globalisation in Reverse

they viewed as the biggest threat to the open Danish economy. While students were initially most concerned with EU-skepticism, the speakers argued for protectionism and inequality being the largest threats. Central to the discussion of these threats was the discrepancy between actual events and public perception of those events. As Edward Ashbee put it: “What matters is not what happens, but how people perceive what happens”. To best respond to the changing global political agenda, the speakers argued that Denmark should dare to step forward and be an example of how globalisation can benefit a country while maintaining a focus on our comparative advantages within especially education. This would also help make the Danish economy resilient to increasing inequality, as Christian Friis Bach argued that: “The most important redistribution system mechanism in any society is investments in health and education”. A final poll showed that the discussion had greatly influenced the attending students, as they now voted protectionism, inequality, and populism to be the biggest threats to the open Danish economy. Only time will tell if the true Danish response to the current backlash against globalisation was discovered at Aarhus Symposium Focus 2017, but the students and speakers certainly did a good job trying to define it.

A LOOK AT THE SPEAKERS OF AARHUS SYMPOSIUM FOCUS 2017

CHRISTIAN FRIIS BACH

FORMER EXECUTIVE SECRETARY, UNITED NATIONS ECONOMIC COMMISSION FOR EUROPE

EDWARD ASHBEE

ASSOCIATE PROFESSOR, DEPARTMENT OF BUSINESS AND POLITICS, COPENHAGEN BUSINESS SCHOOL

THOMAS SCHULZ GROUP CHIEF EXECUTIVE OFFICER, FLSMIDTH

DENNIS NOVY

ASSOCIATE PROFESSOR OF ECONOMICS, UNIVERSITY OF WARWICK

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AARHUS SYMPOSIUM CHALLENGE

re you able to identify what it takes to successfully lead the employee of tomorrow? Do you have an innovative idea on how companies can apply cutting-edge technology to make positive change? Can you define a challenge facing public institutions and explain how this should be tackled? With essays received from both Denmark and abroad, Aarhus Symposium Challenge has once again proven a successful platform for ambitious students to share their unique perspectives with leaders of today.

A LOOK AT THE SPEAKERS OF AARHUS SYMPOSIUM CHALLENGE 2017

HELLE VALENTIN

GLOBAL CHIEF OPERATING OFFICER, WATSON INTERNET OF THINGS, IBM

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BJARNE CORYDON

GLOBAL DIRECTOR, MCKINSEY CENTER FOR GOVERNMENT

JANINA KUGEL

CHIEF HUMAN RESOURCES OFFICER AND MEMBER OF THE MANAGING BOARD, SIEMENS

LEADERS OF TOMORROW CHALLENGING LEADERS OF TODAY Aarhus Symposium Challenge is an essay competition for ambitious students wishing to participate in Aarhus Symposium and Aarhus Symposium Focus. The challenges are presented by three of the speakers participating in Aarhus Symposium and relate to the theme of this year ’s symposium. With the aim of connecting leaders of today with leaders of tomorrow, the students behind the most inspiring and extraordinary essays are invited to Leaders’ Forum. An intimate and informal setting is the stage for the exclusive one-hour session which takes place on the day of Aarhus Symposium. Here, the most talented students meet with the speaker who challenged them and get the opportunity to discuss the ideas presented in their essays. The student behind the most outstanding essay contribution will be honoured on stage at Aarhus Symposium as the winner of the Aarhus Symposium Award.

THIS YEAR’S CHALLENGES This year, the students were challenged by three prominent leaders: • • •

Helle Valentin, Global Chief Operating Officer, Watson Internet of Things, IBM Bjarne Corydon, Global Director, McKinsey Center for Government Janina Kugel, Chief Human Resources Officer and Member of the Managing Board, Siemens

With this year ’s theme, Leading Through Change, as starting point, the speakers’ diverse backgrounds and experiences resulted in three very different topics within their respective areas of work. Specifically, the students were asked to share their thoughts on how companies can apply cutting-edge technology to create positive change, one challenge facing public institutions and how they are to tackle it, and what it takes to successfully lead the employee of tomorrow.

A DEFENCE DISCREPANCY The winner of the Aarhus Symposium Award 2017 was Bastian Emil Jørgensen from University of Copenhagen. In his inspiring and well-written essay, he shared his thoughts on how the Danish government should adjust their defence to better counter the threats of today. In the aftermath of introducing the Danish democracy in 1849, the country’s foreign policy and military capacities were designed to overcome German aggression. Today, 168 years later, foreign invasions are no longer an immediate threat, but instead foreign states and autonomous groups try to compromise the safety in the Danish digital systems. However, as Bastian puts it: “... thousands of young men and women join the Danish military every year through conscription, where they learn the discipline of military service”. This leads to a discrepancy, as large parts of the public institutions and the Danish defence system do not have the sufficient expertise to tackle sophisticated cyber-attacks. According to Bastian, this calls for a reformation of the Danish military conscription: “No longer shall the threats of yesterday dictate our defense capabilities of tomorrow”.

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EMBRACING THE FUTURE WITH ARLA

n May 2 at 10.05 in the morning, excited students gathered in the upper S-building at Aarhus BSS to watch as the theme of Aarhus Symposium 2017 was unveiled: “Leading Through Change”. With the purpose of delving deeper into the theme, 120 students were invited to take part in the exclusive partner event “Embracing the Future with Arla” later in the afternoon, where our Premium Partner, Arla, gave the students a unique opportunity to work on challenging real-life cases centered around the various types of change facing a global FMCG company like Arla.

Executive Vice President of Marketing and Innovation at Arla, Hanne Søndergaard, kicked off the event with a 30-minutes presentation. Here, she shared her thorough insights into how Arla manages to lead through change – an important area of focus for Arla, as change is happening faster than ever, according to Hanne Søndergaard. After the presentation, the 120 students had the opportunity to share their perspectives during a Q&A session. One hour later, the inspired students left the auditorium and entered one of four workshops hosted by Directors from different business units at Arla; Business Development, Human Resources, Finance & Risk Management, and Marketing & Innovation. The Directors presented pertinent and challenging cases representing all the business units. All these cases had one thing in common: they focused on challenges enabled by change. The students were encouraged to discuss potential solutions in groups and hereafter present these to the rest of the participants in the workshop. The event was rounded off with a mingling session, where the students and representatives from Arla had the chance to enjoy a glass of wine and some light tapas.

The two most ambitious students from each workshop, eight students in total, were invited to take part in “Cooking with Arla” on May 24 in Karolines Køkken at the Arla headquarters in Viby, Aarhus. Here, the students teamed up with the Directors and cooked a delicious meal consisting of three courses. The setting was informal, which created a relaxed atmosphere in the kitchen, and opened up for a pleasant chat about anything from recipes to exciting career opportunities at Arla.

AARHUS SYMPOSIUM

ORGANISATION AND GOVERNANCE

arhus Symposium consists of three layers of governance: the Board of Directors, the Steering Committee, and the Organising Committee, with an extensive Alumni Network supporting the entire organisation.

BOARD OF DIRECTORS The Board of Directors is the highest authority of Aarhus Symposium and is established to promote the long-run continuity and stability of Aarhus Symposium. The Board consists of highly visionary and dedicated executives who provide the organisation with strategic experience at the highest level. The members of the Board of Directors are elected for a three-year period.

STEERING COMMITTEE The Steering Committee consists of two to three students of Aarhus University. The Steering Committee is appointed for a one-year period by the Board of Directors. The Steering Committee is responsible for setting the overall directions for the Organising Committee in the planning and execution of Aarhus Symposium.

ALUMNI NETWORK Aarhus Symposium has an extensive Alumni Network consisting of former Organisers. The Alumni Network serves as a source of support on strategic matters for the Organising Committee of Aarhus Symposium. In 2017, members of the Alumni Network have, among other things, played a key role in defining the long-run strategy of the organisation.

Bringing together the ideas of current Organisers and representatives of the Alumni Network is essential in shaping a direction that will ensure the future success of Aarhus Symposium.

ORGANISING COMMITTEE Each yearâ&#x20AC;&#x2122;s Organising Committee is composed of both experienced and new Organisers, who are divided into seven different groups with different areas of expertise and responsibilities. The Organising Committee is appointed by the Steering Committee for a one-year period. Aarhus Symposium has a strong retention rate among its Organisers, which is a contributing factor to the persistent organisational culture that is a basis for the ongoing development of Aarhus Symposium. Each group is led by a Head of Group, whose main responsibilities are goal setting, problem solving, and ensuring good communication both within and between groups. Furthermore, several experienced Organisers take on the roles as Senior Organisers within the different groups. The Senior Organisersâ&#x20AC;&#x2122; main responsibility is to develop Aarhus Symposium both externally and internally by ensuring the development of professional as well as personal competencies of their fellow Organisers.

BOARD OF DIRECTORS

STEERING COMMITTEE

ORGANISING COMMITTEE

AARHUS SYMPOSIUM

ALUMNI NETWORK

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THE ORGANISING COMMITTEE

arhus Symposium is the result of the dedicated work of the Organising Committee. The Organising Committee consists of 30-35 volunteer and highly motivated students from different study areas, semesters, and with different personal strengths. The Organisers are all committed to create a symposium that gives unique experiences to their fellow students, the speakers, and the partners alike.

STEERING COMMITTEE

PROGRAMME GROUP

The Steering Committee is responsible for the overall management, development, and results of Aarhus Symposium. This includes recruiting the Organising Committee for each year, communicating with external supporting organisations and stakeholders, facilitating intergroup collaboration, and developing a strong and sustainable culture within the organisation.

The Programme Group is responsible for the development of the inspirational programme of Aarhus Symposium Focus and Aarhus Symposium. Furthermore, the Programme Group is responsible for all communications with speakers and creating the topics of Aarhus Symposium Challenge in collaboration with the participating speakers.

AARHUS SYMPOSIUM

BUSINESS RELATIONS GROUP

FINANCE GROUP

The Business Relations Group is responsible for obtaining the funding of Aarhus Symposium through corporate partnerships and funds in order to secure the execution of the world-class events.

The Finance Group manages all finances of the organisation. This includes drawing up the budget in close collaboration with each of the groups within the organisation, and producing the Annual Report.

IT GROUP

MARKETING GROUP

The IT Group is responsible for development and maintenance of all IT systems used by Aarhus Symposium. This includes managing the official website, providing general know-how about IT solutions to the other groups, and offering technical support for the organisation.

The Marketing Group is responsible for building and promoting the Aarhus Symposium brand by developing marketing strategies and leveraging online communication channels and on-campus happenings.

ESSENTIALS GROUP

UNIVERSITY ALLIANCES

The Essentials Group ties everything together and is in charge of the planning and execution of all events facilitated by Aarhus Symposium. This includes ensuring great product partnerships and delicious catering for the participants as well as creating ideal physical setups for leaders of today and tomorrow to connect.

The University Alliances Group is responsible for creating awareness and interest in Aarhus Symposium outside of Aarhus. This is done by initiating and sustaining partnerships with other student organisations and engaging with ambitious students from all Danish universities.

AARHUS SYMPOSIUM

ACCOUNTING POLICIES The annual report is presented in accordance with Danish generally accepted accounting principles. The financial statements have been presented applying the accounting policies consistent with last year.

RECOGNITION AND MEASUREMENT Assets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Organisation, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Organisation has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Organisation, and the value of the liability can be measured reliably.

Other External Expenses Other external expenses comprise expenses for distribution, sale, marketing, administration, premises etc. Financial Income and Expenses Financial income and expenses comprise interest income and expenses. These are recognised when accrued.

On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item.

Deferred income Deferred income comprises received income for recognition in subsequent financial years. Deferred income is measured at cost.

Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement.

BALANCE SHEET

Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.

INCOME STATEMENT Revenue Revenue consists of partnerships sold. Revenue is recognised in the income statement when delivery is made and risk associated with the consideration selected has passed to the buyer. Revenue is recognised net of VAT, duties, and sales discounts.

Other Income Other income comprises Foundation grants. Gifts are recognised when granted.

AARHUS SYMPOSIUM

Receivables Receivables are measured at amortised cost usually equalling nominal value less provisions for bad debts. Payables Payables are measured at amortised cost usually equalling nominal value.

INCOME STATEMENT

2017 2016 Notes DKK DKK Revenue Other income Other external expenses Operating profit Other financial income Profit for the year

Proposed distribution of profit Retained earnings Profit available for distribution

635,182 145,000 -776,697 3,485

553,175 215,000 -707,188 60,987

-1,750 1,735

-1,988 58,999

1,735 1,735

58,999 58,999

AARHUS SYMPOSIUM

BALANCE SHEET

2017 2016 Notes DKK DKK Accounts receivables Other receivables Receivables

1,500 10,586 12,086

38,853 93,845 132,698

Cash

337,397

199,752

Current assets

349,483

332,450

Assets

349,483

332,450

Retained earning Equity

299,129 299,129

297,394 297,394

Deffered income Trade payables Short-term liabilities other than provisions

25,000 25,354 50,354

35,056 35,056

Liabilities other than provisions

50,354

35,056

349,483

332,450

Equity and liabilities

AARHUS SYMPOSIUM

EQUITY

Retained earnings DKK Equity at January 1, 2017 Profit/loss for the year Equity at December 31, 2017

297,394 1,735 299,129

AARHUS SYMPOSIUM

ACCOUNTING NOTES

2017 2016 DKK DKK 1. Other external expenses Steering Committee Programme Group Marketing Group Essentials Group Business Relations Group University Alliances

AARHUS SYMPOSIUM

194,438 50,260 101,454 353,883 48,541 28,1210 776,697

188,701 58,954 70,058 297,393 65,723 26,359 707,188

PARTNERS OF AARHUS SYMPOSIUM 2017 PREMIUM PARTNERS