IMPACT magazine - Issue 14 - Change and Transformation

The Durham MBA (Online)

Inspiring Business Leaders

Welcome IMPACT / Issue 14

Welcome to issue 14 of IMPACT magazine, the School's thought leadership publication.

As the Executive Dean of the Business School, it’s my distinct privilege to reflect on the themes of change and transformation –concepts that resonate deeply not only within the world of business but also the realm of education. In recent years, both sectors have undergone unprecedented shifts, with technological advancements, evolving societal expectations and global challenges reshaping the landscape. The role of business schools has never been more critical as we prepare the next generation of leaders to navigate an increasingly complex and fast-changing world.

Issue 14 has thought-provoking articles based on our research examining some of these big issues, and the potential impacts on individuals, businesses and society. This is perfectly illustrated by our lead articles. Professor Julie Hodges considers how engaging with the opponents of change can foster more meaningful transformations.

Professors Bernd Brandl and Barbara Bechter investigate the integration of artificial intelligence (AI) into human resource management, while Dr Wendy Ruan outlines the need to reframe sustainability reporting to balance climate concerns with economic growth.

Other articles that tap into the individual side of change. Professor Lenos Trigeorgis shares his research on why being a highly organised CEO can be a hindrance, Professor Maria Kakarika’s research finds gossiping at work can be bad for your career, and in my own article I reflect on the challenges we face in managing a busy career alongside the home.

Dr Aarron Atkinson-Toal’s commentary on AI bridges the individual and societal impact of the technology and examines the human psychology at play in the adoption of machine learning. Businesses, large and small, are the subjects of Professors Atanu Chaudhuri and Pablo Munoz’s articles. Business doesn’t come any bigger than the space industry and Professor Chaudhuri delves into the potential of the circular economy here. Professor Munoz highlights a collaborative initiative that connects researchers with small and medium-sized enterprise (SME) founders to help solve pressing societal challenges.

The last of our research-led articles from Professors Kevin Dowd and Anna Tilba look at the success or failure of digital currencies and the way forward for investor stewardship, respectively.

This issue also includes a vibrant mix of current student and alumni activity along with other School news. We have the 20th anniversary of the MBA boardroom exercise, which continues to innovate and evolve. Read how our Royal Society Entrepreneur in Residence, Dr Helen Meese is helping transform healthcare. You’ll also find details of our new Executive MSc in Supply Chain Management, our first graduands from the Senior Leader Apprenticeship programme, and the opening of Waterside –our new building with first-class facilities in the centre of Durham. Finally, we’re reviewing IMPACT magazine to ensure it continues to achieve our objectives of keeping you informed of our impactful research and celebrating the successes of our faculty, students and alumni. The IMPACT team would love to hear your feedback, and you can reach them through the contact details on page 5. I hope you enjoy reading this issue.

Professor Cathy Cassell Executive Dean

Contents Change and transformation

Issue 14 / 2024

Credits

The IMPACT Team

Katrina Savage

Senior Marketing Manager

Business Partnering

Martin Thomas

Marketing Manager

Lindsay Webber

Marketing Relations Manager

Sophie Patterson Communications Officer

Charlotte Wareing

Marketing Officer

Paula Lane

Marketing Officer

Stephen Close

Marketing Officer

Jade Gourley

Marketing Officer

Deanne Dutton

Conversion Relations Officer

Thank you

Thank you to all those who have worked on this issue including faculty, other School staff, students, alumni and business connections.

Contributors

Dr Aarron Atkinson-Toal

Professor Barbara Bechter

Professor Joanna Berry

Sumit Bhartia

Professor Bernd Brandl

Uday Bose

Sue Boyd

Professor Cathy Cassell

Professor Atanu Chaudhuri

Eason Z. Chen

Max Cowan

Eddie Cui

Arnab Das

Devyani Dande

Professor Kevin Dowd

Harry Finch

Professor Julie Hodges

Megan Holley

Matteo Lai

Professor Maria Kakarika

Stephanie Osborne

Professor Pablo Munoz

Asmi Pillai

Dr Wendy Ruan

Professor Anna Tilba

Professor Lenos Trigeorgis

Jamie Weston

Professor Karena Yan

BlueSky PR

6

Engaging opposing voices

Professor Julie Hodges asks that we listen to employees who are at odds with a proposed transformation.

20 The Imitation Game

12

Enabling circular economy in space

An exciting new path-finding project looks to the untapped potential of space debris, with Professor Atanu Chaudhuri

Can you tell the difference between the writings of Dr Aarron Atkinson-Toal and an AI?

Is your home life holding your career back?

Professor Cathy Cassell reveals the lingering inequality of juggling of work and family.

20

24

37

The MBA Boardroom Exercise’s 20th anniversary

Celebrating two decades of a unique and muchloved module with Professor Joanna Berry.

The perils of workplace gossip Dr Maria Kakarika warns us of the career-killing risks of idle talk.

Research

06 Engaging opposing voices

The crucial messages you might be missing during transformation

08 Changing human resource management and managers

Middle HR managers rage against the machine (learning)

10 Reframe the requirements of sustainability reporting

An argument for a company comfort zone

12 Enabling circular economy in space

The untapped potential of debris orbiting Earth

13 Is your home life holding your career back?

Gender inequality in balancing work and family

16 Scaling up impact of social science research

How we’re bringing commercialisation to the social sciences

18 Highly organised CEOs can hinder firms in volatile environments

The surprising impact of leaders’ personalities

20 The Imitation Game

Can you tell the difference between human and AI writing?

24 The perils of workplace gossip

Are your tea break titbits killing your career?

26 How successful has the Chinese Central Bank Digital Currency been so far? The impact and potential dangers of the e-yuan

29 The evolution of investor stewardship

And the importance of aligning its metrics, targets and outcomes

32 Positioning people at the centre of change

An interview with Professor Julie Hodges

Want

34 Global DBA candidate delivering theoretical and practical impact

Part-time professional doctorate presents at an international symposium Engagement

35 Waterside

Our new building with cutting-edge facilities in the heart of Durham

36 My MBA Strategic Consulting Project with the BFI

Developing diversity standards consulting in the film industry

37 The MBA Boardroom Exercise’s 20th anniversary

Two decades of a wellloved, unique module

40 The real-world benefits of an MSc Business Analytics project Maximising learning and business impact with graduate Eddie Cui

41 International study perspectives International Coordinator Jamie Weston presents students’ globetrotting stories

41 A lasting impact: my international study visit to Germany MBA student Arnab Das on his culturally immersive experience

42 Lyon: the turning point in our MBA journey

The impact of international study on Sumit Bhatia’s future pursuits

44 Exploring European finance: a transformative study trip to Brussels Harry Finch, MSc Finance shares his horizon-expanding journey to Belgium

46 My International Study Tour experience in Barcelona How Eason Z. Chen’s trip helped to bridge theory and practice

48 Stitching success: a scrunchie startup

From a sustainable futures module to education empowerment

50 Economics on the world stage BA student Max Cowan’s experience at the Carroll Round Conference

52 Economics is not all about working in banks... Asmi Pillai twins her two interests as part of her Durham Masters News and events

53 Recognition round-up

Our latest accreditations and ranking since last issue

56 Transforming healthcare

Dr Helen Meese appointed as Royal Society Entrepreneur in Residence

58 DBA Conference: Research with Impact in Times of Turbulence

The 2nd Annual Conference addressing contemporary challenges

59 Establishing a community co-created distributed manufacturing platform

A new ESRC-funded project for digitalisation and local communities

59 The 14th ILERA European Congress

The Business School looks forward to hosting in September 2025

60 Executive MSc in Supply Chain Management New for 2025, a blended learning programme addressing contemporary sector challenges

61 The first cohort from the Senior Leader Apprenticeship graduates We celebrate the graduation of the first group of apprentices from our SLA programme

62 Durham Delhi alumni gathering and the Alumni Global Impact Award

Recognising the achievements of our alumni chapters across the globe

Engaging opposing voices

Is resistance to organisational change always negative? Julie Hodges, Professor of Management, shares why it’s better to listen to employees disagreeing with a transformation.

Anyone attempting to engage stakeholders with a business transformation knows to expect some opposition, because change isn’t always a rational process. It’s therefore natural for people to struggle with it, especially when it’s imposed upon them. Individuals will react differently as they interpret the information they receive about a transformation in different ways. While some will see it as beneficial for the organisation and an opportunity for personal gain and development, others will perceive it as an interference with their work and a disruption to the status quo. As part of their appraisal, individuals will evaluate whether the impact of the transformation is positive (enhances their job), neutral (doesn’t impact their job), or negative (threatens to make their job worse or more difficult).

Opposition is usually perceived as a negative response and a barrier to a transformation, often manifesting itself through counterproductive behaviours. Literature about organisational change often reflects this negativity, stressing how crucial it is to overcome the problem of opposition. Opposition to change is, however, a natural occurrence and the prevalent negative view of overcoming or resisting opposition needs to be reconsidered by examining what drives people to behave in the way they do.

In other words, the reasons why people oppose a business transformation need to be uncovered, and opposition seen as having positive aspects which shouldn’t be ignored. One way that opposition can be positive is that it can keep conversations about a transformation and the ensuing changes going rather than dying from a lack of interest. This is important, as ongoing debate and discussion are essential and valuable, especially if employees are struggling with what the change means for them and how they feel about it.

Opposition can also provide additional data about how individuals feel about previous transformations, which may be expressed in comments such as “we’ve tried that before and

it failed” or “why should we trust you this time?”. It can play a crucial role in drawing attention to elements of a proposed transformation that may be flawed or inappropriate – and therefore provide an opportunity to identify weaknesses, including the purpose, approach and suggested ways of implementation.

Additionally, people may have competing commitments, so those opposing change usually have some good reason, even if their rationale for doing so isn’t obvious. Understanding why individuals object to a business transformation is therefore vital.

Opposition isn’t something to ignore because understanding a difference of opinion can often be constructive, as it exposes the positive and negative aspects of a proposed transformation. So, rather than assuming that those who raise objections to change are ‘resisters’, it may be better to consider them as people who see what needs to be protected or done differently, and are mindful of the impact that the wrong change intervention can have on the organisation and its employees. When we consider those opposing change as responsible, thinking adults, rather than seeing them as purely ‘resisters’, this demonstrates a genuine respect for their views. Listening to opposing views to understand what the issues are can provide valuable input about

what will and won’t work. Opposition therefore needs to be reframed so that it’s seen as a natural part of a people-centric change and a potential source of energy and feedback. In other words, the power of opposition can be used to build support for a business transformation, improve the chances of identifying change initiatives that will be effective, and alleviate some of the discomfort that people may be feeling about yet more change.

Although it isn’t always feasible to make people feel comfortable with change, managers can minimise discomfort by identifying the root causes of individuals’ concerns and opposition and where possible work with them to eradicate or lessen those concerns. If personal concerns are ignored and individuals’ engagement is lost, the negative impact of them withdrawing their support, either openly or covertly, can be highly damaging. So, instead of interpreting opposition as something negative, it’s more valuable to recognise and appreciate the benefits of opposition as it may well be a sign that people care enough to criticise and haven’t given in to apathy and inertia. It shows that they’re taking the transformation seriously and that it’s important to them.

If opposition is viewed as a natural and expected part of a business transformation, then it’s important to understand why individuals are reacting in that way and encourage them to discuss why they’re responding as they are. To do this firstly involves understanding how opposition might manifest itself, from apathy to aggregation, from subtle acts of non-cooperation to industrial sabotage, and from verbal protest to destructive opposition. To predict what form opposition might take requires being aware of the reasons why people may oppose a transformation at both an organisational and personal level. Some of the factors that can influence an individual’s response to a transformation include: fear of loss of control and autonomy; wanting to retain the status quo; fear of a lack of capabilities; a lack of communication about the change; and a limited capacity to absorb change.

Opposing views often have clear, important messages that are worth listening to. The people who hold these views may be the ones who most vividly see the potential losses or risks associated with a proposed transformation. Listening actively with curiosity, without judgement, and seeking to understand is very important for appreciating opposing views. Of course, the easy bit is listening to what people voice and their ideas. The hard bit is what’s done with them, which requires being willing to respond and give arguments for retaining the status quo or not.

Click or scan the QR code for more information on Professor Hodges and her research interests.

Changing human resource management and managers: Middlemanagers’ rage against the machine?

Barbara Bechter, Professor in Human Resource Management, and Bernd Brandl, Professor in Management, on HR resistance to AI and algorithmic management.

There’s no question that digitalisation and the advancement of new technologies have drastically changed the way in which we work and how work and people are managed. More specifically, the increased use of Artificial Intelligence (AI) and algorithmic and analytical management has changed Human Resource Management (HRM) in many ways.

It’s well known and understood in the literature that today, new technologies like HR analytics and AI are used in all areas of HRM, including workforce planning and recruitment and selection, HR development (i.e. training and development), rewards (i.e. compensation and benefits), talent management, and performance management (i.e. performance monitoring). Consequently, humans have become increasingly managed by ‘machines’ and not (directly) by human managers.

Resistance and rage can be particularly high from the middle and low HR management itself.

In this sense, the line manager responsible for evaluating employee performance and making decisions about promotions or dismissals has been replaced by a ‘machine’, specifically an algorithm. Of course, this change in the relationship between human employees and human/non-human managers leads to concerns among the workforce, which also explains resistance to the use and implementation of new technologies in firms. We’ve analysed the role of different factors which hinder and facilitate the effective use and implementation of ‘machined HRM’ in companies. What’s less known and often underestimated is that the use of new technologies and AI (i.e. ‘machined HRM’) has also changed dramatically the jobs of management, in particular HR Managers. The fact that employees are increasingly managed via the use of ‘machines’ makes many HR Managers obsolete. In our

recent research, we’re analysing how the structure of HR and HR roles are changing, which jobs are lost, and which are evolving.

While top management is deploying AI for better-informed strategic decision-making, middle-managers, responsible for implementing AI in the workplace, are becoming increasingly obsolete by the very same technology. Middle and lower HR managers who are responsible for HR non-strategic tasks such as performance monitoring and recruitment and selection are increasingly replaced by ‘machines’. Middle HR managers are therefore often very concerned about using AI and algorithmic management. For that reason, resistance, and ‘rage’ against ‘machined’ HRM can be expected by HR managers themselves and not necessarily the workforce.

As we’ve shown, top strategic HR management positions benefit from the information generated by AI and algorithmic management, while those responsible for implementing AI and who are managed by it do less so. Furthermore,

Humans have become increasingly managed by ‘machines’ and not (directly) by human managers.

it’s also often the top HR management that makes decisions on how AI and algorithmic management is used and what is ‘behind’ or in the ‘machines’, i.e. on how algorithms work and who benefits (or doesn’t). Such decisions about the design and use of AI and HR analytics are of strategic importance, and therefore decisionmaking is held at the highest level.

Against that background, we show that resistance on the use and implementation of new technologies in HRM isn’t often high among employees, employee representatives, or trade unions as literature sometimes argued. Still, resistance and rage can be particularly high from the middle and low HR management itself – especially HR managers at middle and lower levels who feel threatened by using AI and analytical methods in HRM.

We also argue that such change in HRM and in particular among HR managers is not new and that HRM has witnessed many changes in previous decades, not least because HRM has had to adapt to changes in technologies before. As often when new technologies replace old technology in a process of creative destruction, there can be strong resistance and rage among management and the workforce. However, as history also shows, such periods of change can be managed and overcome in different ways to facilitate transitions. Therefore, we conclude that HRM, especially at the top level, must collaborate transparently with everyone involved. This includes providing upskilling and training for middle and lower-level HR management to ensure technological changes benefit the workforce and prevent rage and unrest.

Scan or click the QR code for more information on Dr Bechter and her research interests.

Scan or click the QR code for more information on Professor Brandl and his research interests.

Reframe the requirements of sustainability reporting: creating a comfort zone for companies

The UK, along with the EU, has some of the most advanced and complex corporate and investor sustainability laws and reporting requirements in the world.

Sustainability is an important economic and cultural topic in UK, and the UK government is adapting additional policy steps to support its Net Zero 2050 targets Investigating how excellent corporate performers respond to the growing demand for sustainability reporting has been brought to considerable attention in the academic and normative communities. However, survey evidence reveals that companies show great disinterest in corporate social responsibility (CSR) and sustainability reporting. Research findings suggest that most corporate managers are not only disinterested in CSR reporting, but also not interested in reporting their good CSR behaviours.

Assistant Professor in Finance, Dr Wendy Ruan, asks if altering the conditions for CSR and sustainability reporting might let businesses thrive.

The UK has some of most advanced and complex corporate and investor sustainability laws and reporting requirements in the world.

Some researchers categorise public sustainability reporting as companies’ explicit communications with stakeholders. Therefore, they suggest the implicit way, namely, more engaged communicative practices with the public, such as face-to-face interaction, direct contacts, and partnerships with key stakeholders. No matter explicit or implicit, we ought to consider not only stakeholders and their actual demands for reporting, but also the companies and if they have innate needs for reporting. A company’s basic goals are to survive and be profitable, so they have instinctive tradeoff between cost and benefit for their actions. Companies, as micro-components of the economy and the cells of society, need a comfort zone. Like an individual, we play different roles in society. We can be husband/wife or dad/ mum in a family, and we can be employees in the workplace. It’s not always necessary for an individual to disclose to the public how well they play their roles, as long as they fulfil their own commitment within certain scopes.

Climate change, global warming, decarbonisation: these sustainability issues are sometimes too distant topics for business operators, especially young entrepreneurs. Shall we ask children to take on multiple social responsibility obligations? Instead, society needs to create an environment conducive to their growth. If businesses get exhausted through onerous disclosure obligations, they will quit. We can see many UK companies have sold their businesses to other countries – their shareholders just withdrew their money and went to enjoy life. Policymakers should make an earnest effort to create a comfort zone and let businesses stay, as they can provide jobs, promote innovation, and grow economies, and therefore ultimately improve social welfare. So, here are some recommendations for policymakers to reframe sustainability reporting requirements for businesses and let them thrive.

1

Distinguish between super-large businesses, large businesses and SMEs

Previously, the Department for Business, Energy, and Industrial Strategy (BEIS) has required UK-registered companies (public or private) with 500+ employees or £500M+ in annual revenue to complete annual sustainability and climate-related disclosure reporting. In February 2023, UK Prime Minister Rishi Sunak divided the BEIS and created a new Department for Energy Security & Net Zero. It’s not yet known how these existing sustainability reporting requirements may change under the new Department’s policies.

2 Target businesses that operate in heavy-polluting industries

For example, in China, industries such as thermal power, iron and steel, cement, aluminium electrolysis, coal, metallurgy, chemicals, petrochemicals, building materials, papermaking, brewing, pharmaceuticals, fermentation, textiles, tanneries, and mining are defined as heavy-polluting industries, and it’s mandatory for companies in these industries to disclose environmental-related information. Environmental information from other industries is disclosed on a voluntarily basis. Could the UK borrow this idea from China?

3

Distinguish between national and overseas companies

If foreign companies want to enter the domestic market, they should be expected to take more social responsibilities and mandated to disclose more information regarding sustainability.

4

Identify businesses that use or manage public money

If organisations use public money in their operation, they should be prepared to fulfil more CSR and sustainability reporting obligations. Likewise, if organisations manage public funds, such as banks and financial institutions, more disclosures should be made.

5

Utilise finance tools and incentives

Again, take China as an example. To address public concerns regarding deteriorating environmental conditions, the Chinese government has announced a set of laws, regulations and policies stipulating the responsibilities of companies to protect the environment and disclose environmental information. In 2012, the China Banking Regulatory Commission issued the Green Credit Guidelines, which aim to develop green credit methods to support environment-friendly firms and encourage banks to consider the environmental risks in their lending decisions.

Driven by the Green Credit Guidelines, the major banks in China have introduced detailed green credit implementation instructions. For example, a manager from the Industrial and Commercial Bank of China (ICBC) mentioned in an interview that the Green Credit Guidelines do affect the loan decision-making of ICBC, and that ICBC has strictly implemented a ‘one vote veto’ mechanism for green credit.

To explore the role of the Green Credit Guidelines in the relationship between corporate environmental information disclosure and bank finance, we conducted an empirical study. The results show that the higher the quality of environmental information disclosed by heavypolluting companies, the larger and less costly their bank loans are.

Last but not least, it’s advised that sustainability reporting obligations be simplified, and requirements flattened.

Click or scan the QR code for more information on Dr Ruan and her research interests.

These sustainability issues are sometimes too distant topics for business operators, especially young entrepreneurs.

Enabling circular economy in space

Atanu Chaudhuri, Professor of Operations and Technology Management and Co-Director of Durham University Space Research Centre, looks to the economic potential of space debris.

There are more than 28,000 routinely tracked objects orbiting Earth. The vast majority (~75%) are space debris that no longer serve a purpose. This debris is dominated by fragments from 560 known explosions and collisions of satellites or rocket bodies. These events have left behind an estimated 900,000 objects larger than 1cm and a staggering estimated 130 million objects larger than 1mm in commercially and scientifically valuable Earth orbits.

Currently, there are almost 14,000 ‘payloads’ in orbit, of which more than 9,900 are active – over 5,000 of which are Starlink satellites. The current practice for satellite operators is to deorbit from low Earth orbits or send the satellites to graveyard orbits (> 36,000km out) at the end of their operational life. There are roughly 330 satellites in graveyard orbits. Little is known of the polluting effects of deorbiting large numbers of ‘dead’ satellites and what can be done to recover or reuse the materials from these satellites remaining in orbit.

While space debris pose a risk for sustainable space exploration, there is limited understanding of the economic potential of extracting and using these materials for in-space manufacturing and in-orbit servicing purposes, as well as for construction purposes on the Moon and for manufacturing back on Earth. The world also faces a shortage of critical minerals for space exploration and other essential products. The current practice of abandoning or deorbiting is wasteful and potentially polluting.

Almost 14,000 ‘payloads’ in orbit 330 satellites in graveyard orbits

I, along with Professor Lenos Trigeorgis, Dr Zsófia Tóth, and Dr Beril S. Turnbull will work with Ralph ‘Dinz’ Dinsley at 3S Northumbria Ltd and other colleagues at our Space Research Centre on this exciting path-finding project. The project is funded as part of the Business School’s Smart & Scale initiative.

The objective of this project is to determine the optimal circularity-related options for the reuse of space debris, considering the value of the parts and materials, potential usage and cost of processing. Additionally, the project aims to develop and explore business models for facilitating circular economy in space.

As part of this project, I attended the Ignite Space Conference held at Leeds in June 2024 to showcase our capabilities in space research and how the SMEs can engage with the University.

Scan or click the QR code for more information on Atanu Chaudhuri and his research interests.

Professor Chaudhuri at the UK Space Agency’s Ignite Space Conference.

Is your home life holding your career back?

It’s a typical scenario: the alarm goes off in the morning, Mum gets up, washes and dresses before getting the children out of bed, preparing their breakfasts and getting them ready for school. Packed lunches are made, uniforms are laid out and school bags are ready with signed slips for class trips and updated homework diaries. Meanwhile, Dad gets up, showers and is ready for the office. Everyone is out of the house by 8am – the children to school and both parents to work.

According to the Modern Families Index, published by Working Families and Bright Horizons Family Solutions, the vast majority of two-parent households operate with both parents working full-time hours (74% of those surveyed), with mothers increasingly being positioned as equal breadwinners. It seems society has progressed! Long gone are the days when mothers were expected to stay home to raise children and take care of the home.

Gender equality cannot be achieved in the workplace until it’s achieved at home.

Professor Cathy Cassell, Executive Dean, shares her research into the unconscious biases affecting couples’ decision-making – and women’s lives.

… Or has it?

As women have gradually taken on greater responsibility for bringing income into the household and have been expected to maintain and grow a career, how much of both the physical and mental load of home life has been lifted from their shoulders to allow them to do so?

From research I’ve carried out alongside Laura Radcliffe and Leighann Spencer of the University of Liverpool Management School, it turns out: not very much. Women and mothers remain responsible for the bulk of responsibilities at home.

More concerningly, the lack of balance at home has wider implications beyond being generally unfair (and a little sexist). Not only are women working harder, they’re also seeing their careers slow down or become stunted as a result.

Our study explores the interdependent relationship between home and professional lives, focusing on how the ways in which couples make decisions about family dynamics are instrumental in perpetuating existing gendered stereotypes, holding female progression back.

We explored the day-to-day experiences of 30 heterosexual dual-earner couples in the UK, conducting interviews with each and reviewing diary entries they made over a month-long period. Through this, we identified a troubling pattern in how couples made day-to-day decisions and the resulting impact on working mothers.

Our study found that typical household duties such as the school run, arranging medical appointments for children, keeping on top of housework and mealplanning were still, in the vast majority, given over to mothers, and sometimes even grandmothers, rather than fathers.

Worryingly, we saw such situations occur even in instances where fathers had greater autonomy or flexibility in their working commitments than their partners did.

As a result, women experienced a higher overall workload and a greater level of conflict in balancing work and family responsibilities than men did.

Why does this happen? We found the answer lay in the habitual style of decisionmaking, which held three biases at its heart.

The first of these is an incorrect perception by both parents that their home responsibilities were shared equally, even when the evidence of their reality proved otherwise. This is known as reality blindness. This can occur unconsciously through habit and routine, and because many household tasks are typically taken on by mothers without being asked, fathers are left blissfully unaware of the admin of ensuring there’s a clean uniform each day, that bags are packed, that shopping lists are made so that cupboards don’t run bare, and so on.

The second is known as option blindness. Here, the habits of doing things the same old way mean that couples can fail to seek alternative options for managing situations like resolving work–family conflicts. As a result, fathers fail to step in and step up to responsibilities, and mothers continue to suffer under gendered parenting norms.

The last, and perhaps most troubling, is what we identified as gendered competency traps. This refers to the belief among couples that a mother, or women, are simply better at handling certain tasks around the home than fathers are. As a result, men step back by default, and women continue to take on more than their fair share.

Women experienced a higher overall workload and a greater level of conflict in balancing work and family responsibilities than men did.

An example of this habitual decision-making could be seen in an instance we recorded where a child fell ill. It was decided that the mother would take time off work to care for the child, despite the fact that the father had more annual leave available, greater flexibility in his work, and even disregarded the possibility of other family members, such as grandparents, lending a helping hand.

These instances, aside from the mental stress of looking after a poorly child on top of other household responsibilities, took the mother away from her work, impacting her colleagues and possibly the perception held of her reliability in the workplace.

This latter point is crucial when it comes to levelling the playing field between men and women in the workplace. It’s been well noted by research that gender equality cannot be achieved in the workplace until it’s achieved at home, as these circumstances harm women’s professional participation and, as a result, their career advancement.

To further drive this home, we explored the circumstances of families that took a far more equal approach to household responsibilities.

The contrast was stark. By having a mutual awareness and appreciation of one another’s professional commitments, and by taking conscious steps to ensure clear communications over childcare arrangements and establishing agreements such as turn-taking when it came to compromising professional commitments in favour of family needs, not only did women hold equal status in all senses at home, but their circumstances professionally also improved. It can be hard to change the habits of a lifetime – especially when at first it’s not apparent that things need to change, which is why our research paper is so important. Not only does it push to change the narrative for women at home and provide positive results for professional life too, it also helps to highlight the issue of such unconscious bias and encourages readers to consider their own family dynamics.

While the daily decision-making required to encourage equal arrangements may take more effort, taking the time to do so is key to improving gender equality and providing a real freedom of choice regarding career and family engagement, for both men and women.

Scan or click the QR code for more information on Professor Cassell and her research interests.

Scaling up impact of social science research through commercialisation

Professor Pablo Munoz, Professor in Entrepreneurship, on bringing researchers and SME founders together to help solve thorny societal challenges.

Research intensive universities are undergoing important transformations. The landscape is changing rapidly. Uncertainty around student numbers, funding and performance expectations continue to affect universities as we move from one REF to the next.

In this context, commercialisation is growing in importance, as it’s seen as a financially sustainable mechanism for transferring knowledge from universities to the private sector. While commercialisation mechanisms are wellestablished across STEM, relying mostly on IP protection, processes and practices are less clear when it comes to social science-based spin-outs. Universities and knowledge transfer teams face difficulties in fostering business venturing and

For social scientists, commercialisation is an ugly word.

creating spin-offs from social science research, despite offering a promising pathway to scale up research impact. Still today, universities struggle to leverage its uniqueness and embed business development early into the research process. For social scientists, commercialisation is an ugly word, and engagement is rare after “the paper is published”. Practitioners rarely see the practical value of papers, and investors struggle to identify and assess scalable social science knowledge, particularly during early stages of development.

To tackle these issues, at the Durham Enterprise Centre, we created the Social Science Enterprise Lab. Our work at the Lab is grounded in a decade of research into futures, problematisation and design in the social sciences. We’ve developed a model and facilitation intelligence that leverage the generative power of social science knowledge and motivation behind social venturing. This requires a move to focusing on practical problems, co-creation and research interventions, which involves a consideration of use-inspired research that advances our

We aim to develop scalable research intervention/solutions and clear pathways to bring them to the market.

fundamental understanding of human life. Such a move doesn’t see trade-offs between the pursuit of fundamental knowledge and practical applications. It rather embraces both simultaneously, treating them as complements, not as substitutes where one necessarily drives out the other.

At the core of The Social Science Enterprise Lab is a ten-month research incubation programme that brings researchers and SME founders together to co-develop research-based solutions to practical challenges. Projects in the Lab can originate from a theoretical inquiry or emerge from a societal need. In every project, we aim to create new, practical, and scalable solutions that are deeply grounded in solid theoretical backgrounds.

Over the ten months, these teams will receive training, conduct joint problematisation, engage in research activities, explore solutions through prospection, explore markets for research solutions, and engage in commercialisation activities. For the duration of the programme, participating SME founders become Entrepreneurs-in-Residence at the Business School. Through our programme, we’re able to align the pursuit of theoretical novelty with the future aspirations of practitioners, and as a result empowering teams to use their knowledge and experiences to envision the future and develop solutions that not only fill theoretical gaps but also address societal needs. At the end of the programme, we aim to develop scalable research intervention/solutions and clear pathways to bring them to the market.

The Social Science Enterprise Lab is funded by the School’s Smart & Scale Up initiative, an interdisciplinary, impact-driven research programme focused on innovation and business development of SMEs in the North East of England. We’re currently supporting four research-practice projects from across social science departments that are distinctively developing solutions to thorny challenges: to support neurodiverse young adults in their journeys to self-employment; scale up the impact of contextual safeguarding for children; facilitate access to impact measurement tools for social enterprises; and support careers in a thriving North-East creative industry. Over the next two years (2024-2026), the Lab will support a further six social science research project teams and continue to develop new methods and tools to assist transformative social science research. This includes translational social science (the equivalent to clinical trials in biomed), tools for investors, and a suite of training programmes for researchers and technology transfer officers.

The Lab is transforming social science research by expanding its impact beyond traditional research practices and outputs. Our method and toolkit give researchers a way to bring research impact and business prospection together and early into the core of the research process. It therefore breaks the barrier between publication and commercialisation, which are no longer treated as incompatible activities. We offer knowledge transfer officers a method and language to open new opportunity spaces for social science research, scale up impact, and achieve their commercialisation aims. External stakeholders interested in science-based spin-offs (incubators, investors, development agencies) can engage with social scientists early in the research process and better assess the transformative potential of their work.

In 2025, the Lab will go global and start supporting other universities interested in scaling up the impact of social science research through commercialisation.

If you’re interested in the work we are doing at the Lab or have ideas for future projects that could benefit from our support, please contact us at: durham.ac.uk/ssel. Ideas from researchers and SME founders are welcomed.

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Why highly organised CEOs can actually hinder firms’ strategic flexibility in volatile environments

Can a business leader be too conscientious? Professor Lenos Trigeorgis, Professor of Strategy and Finance, on the importance of personality traits in turbulent times.

Today’s business world is characterised by unprecedented volatility and rapid change, driven by a number of factors including technological advancements, economic fluctuations, and geopolitical uncertainties.

The rise of digital transformation has accelerated the pace at which businesses must innovate, while global supply chain disruptions and shifting trade policies add layers of complexity to market dynamics.

Additionally, social and environmental considerations are increasingly influencing business strategies, requiring companies to adapt swiftly to evolving consumer expectations and regulatory landscapes.

It’s clearly a tough time to lead a business – the constant state of challenges that organisations face means they have to remain agile, resilient, and capable of responding to challenges with speed and flexibility.

Surely, CEOs who are highly organised are the best to tackle these complex environments?

That may not be the case, according to my new research conducted with colleagues from Aarhus University, the Danish Finance Institute, and the University of South Florida. Our study actually reveals that certain personality traits of CEOs, particularly those related to conscientiousness and neuroticism, may impede a firm’s strategic flexibility in volatile situations.

Methodology

We scrutinised the impact of CEO personality traits on strategic flexibility by analysing a robust sample of over 1,500 CEOs from approximately 850 S&P 1500 firms, covering the period from 2007 to 2018.

To assess these personality traits accurately, we utilised transcripts of CEOs’ speeches during the Q&A sessions of quarterly earnings conference calls. These transcripts are seen as less polished by public relations teams and so provide a more genuine glimpse into a CEO’s personality. The volatility of the firm’s equity was measured by calculating the standard deviation of its daily stock returns over the given month, providing a clear indicator of the firm’s exposure to external volatility.

By correlating these personality assessments with the firms’ strategic responses to stock price volatility, we were able to draw significant conclusions about the impact of CEO traits on organisational flexibility.

Rigidity of the organisation

One of the pivotal findings was that CEOs who exhibit high levels of conscientiousness – characterised by their propensity for planning and organisation – often struggle to adapt to rapid external changes. This rigidity in their practices can make it difficult for firms to pivot swiftly in response to market volatility, a necessity in today’s unpredictable economic environment.

The burden of neuroticism

Our research also delves into the effects of neuroticism – defined by traits such as emotional instability, anxiety, and stress susceptibility – on a CEO’s ability to steer their organisation through turbulent times. We found that CEOs with higher levels of neuroticism hinder their firm’s adaptability, as their emotional responses to stress can obstruct swift decision-making and strategic shifts.

Traits that foster flexibility

Interestingly, we also identified personality traits that enhance a CEO’s ability to navigate volatile environments. CEOs who scored high on openness to experience and extraversion tended to manage volatility more effectively. These traits, associated with creativity, adaptability, and positive social interactions, appear to equip leaders with the necessary tools to respond dynamically to unpredictable changes.

Implications for CEO selection

The implications of our findings are substantial for firms operating in volatile sectors. While the meticulous and organised approach of conscientious CEOs can be invaluable in stable environments, it may not be the optimal choice for companies facing constant change and uncertainty. Similarly, firms should be cautious of selecting leaders who are prone to stress and anxiety if they expect needing to navigate frequent disruptions.

CEOs who exhibit high levels of conscientiousness often struggle to adapt to rapid external changes.

However, we caution against viewing conscientious and neurotic CEOs as inherently inferior. These traits can be highly beneficial in other contexts, contributing to thorough planning, risk management, and operational efficiency. The key takeaway is the importance of aligning CEO personality traits with the specific demands of the business environment.

Strategic adaptability in a volatile world

As businesses continue to grapple with the rapid pace of change brought about by technological advancements, economic fluctuations, and geopolitical shifts, the ability to remain strategically flexible becomes ever more critical. Our research underscores the nuanced role that CEO personality traits play in fostering or hindering this adaptability.

For firms seeking to thrive amid volatility, we suggest a strategic reassessment of leadership qualities. Rather than strictly adhering to traditional notions of what makes a ‘good’ CEO, organisations might benefit from a more tailored approach – one that considers the unique demands of their environment and the specific personality traits that will best enable them to navigate it.

In conclusion, while the virtues of conscientiousness and meticulous planning are undeniable in stable contexts, today’s unpredictable business world requires a different set of traits in its leaders. Openness to experience and extraversion emerge as valuable assets, equipping CEOs to steer their firms through the choppy waters of modern commerce with agility and resilience. As firms look to the future, our insights offer a compelling blueprint for leadership in an era of constant change.

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The Imitation Game

Assistant Professor in Marketing and International Business, Dr Aarron AtkinsonToal, considers machine learning and the psychology of human trust issues.

Machine intelligence became a significant area of research in the UK during the 1940s. The imitation game, popularly known as the Turing test and originally published within the academic journal Mind, is a concept in artificial intelligence proposed by Alan Turing. It tests a machine’s ability to exhibit intelligent behaviour indistinguishable from that of a human. In the game, a human judge interacts via text with both a machine and another human, without knowing which is which. If the judge cannot reliably distinguish the machine’s responses from the human’s, the machine is considered to have passed the Turing test, demonstrating a level of artificial intelligence capable of mimicking human intelligence convincingly. The imitation game remains a benchmark for assessing AI’s progress in achieving human-like cognition and communication.

The Dartmouth conferences of 1956 are considered the birth of artificial intelligence research. The imitation game, otherwise known as the Turing test, is a key cornerstone of artificial intelligence thinking and research, published in the seminal 1950 paper Computing Machinery and Intelligence by Alan Turing. The objective of the game is to test whether a machine’s ability to demonstrate intelligent behaviour is comparable to that of a human. With three players, the game involves a human judge interacting with both a machine and another human without knowing which is which. If the judge cannot identify the machine’s responses compared to that of the human’s, the machine has demonstrated an ability to mimic human intelligence convincingly and is declared the winner. The test continues to be widely influential in the development of artificial intelligence technology.

AI: Artificial Imposter

One of the paragraphs opposite has been written by me, Dr Aarron Atkinson-Toal. The other has been written in its entirety by generative AI software. I would imagine that your initial, knee-jerk reaction is to don an investigative mindset to try and identify which article belongs to what author. You may start by looking for subtle clues within text, like who sounds the most robotic, which ones lacks personality, or engage in fact-checking with the assumption that I’m probably correct whilst AI is prone to bias and mistakes. But, as a red-blooded individual, aren’t I also biased and prone to mistakes too? The interesting question here isn’t can you tell who is the author, but why do you want to know? What fuels an aversion to AIgenerated content and why are we suspicious of anything where the author remains elusive?

Human psychology of the artificial brain

The first thing to note is that humans aren’t very good at identifying written content that’s been generated by AI, according to recent studies. This presents practical concerns of impersonation, cheating and fakeness, particularly relevant in a university context. AI detection software development, whilst in its infancy, is arguably always going to be an unreliable method of identifying artificially generated content given the pace of AI innovation.

This leads to the first psychological response: mistrust. Not knowing who wrote what article leads us to mistrust the content and their claims in both until we’ve been informed of the real authors. Once informed, we’re more likely believe the content written by the human. If I were to disclose which paragraph was written by me, you’ll trust that it was created by someone who knows what they’re talking about, deemed worthy of publication within this magazine by editors and fact-checked to ensure accuracy. You can understand who I am and the process by which this article was created, and you’ll relate to it. Regarding an AI author however, you may believe that the technology is prone to errors or an unreliable source of information, and because of that dismiss its claims.

Dearest, gentle reader...

Those familiar with the recent Netflix phenomenon Bridgerton may sympathise with Queen Charlotte’s relentlessness in the pursuit of unmasking the mysterious, hidden author Lady Whistledown. How frustrating it must be not to know. The psychology of not knowing something produces rather intense, usually negative, feelings and behaviours. We can become addicted in trying to unmask the truth (like Queen Charlotte), but not knowing something can instil a sense of shame or inadequacy in ourselves. Societal expectations dictate that we should always have the answers, so not knowing something leads us to feeling out of control or anxious in our ignorance, motivating us to try harder in our pursuit of the truth, or fake knowing in an attempt to reduce this psychological burden. Have you worked out who the authors are yet? Do you have evidence to support your claim? Or have you jumped to conclusions to overcome the pain of not knowing, convincing yourself that you hold the answer?

AI: Agnostophobic Inclinations

Instilled within humans is an evolutionary fear of not understanding or knowing something. An aversion to the unknown has great significance to our survival, considering the dangerous environment this particular trait of the psyche evolved within. What was that noise in the darkness over there? A fallen branch, or an animal about to attack? Being motivated by fear to move, investigate or protect oneself from the unknown has great consequence. Unless well-versed in the intricacies of computer science, most of us don’t truly understand the workings of AI technology, other than being receptive to the continuous chorus by the industrial elite of the threats that unconstrained AI development poses to society. Not to mention the potential doomsday scenarios, once confined to science fiction, that may result. We find it rather difficult to positively and emotionally associate to a machine, never mind a potential out-of-control homicidal one, and are therefore more inclined to disassociate or detach ourselves from anything it has to say. It’s easier to connect with me, a human author, than a machine we don’t understand. I offer personable companionship and connection; a machine can only offer a metallic coldness in its imitation of life. Very soon, it will be near impossible to identify the differences between AI- and humangenerated content. Current author best practices of including a disclaimer stating that AI assisted in the creation of their work won’t fully address anxieties, as a demand to know exactly what AI has produced and where will only become louder in an attempt to differentiate between human and imitation. While machine learning continues to advance at pace, human learnings of living with such technology may require similarly considerable commitment to address the psychological burdens of an increasingly artificial world. Oh, and as for who the author is regarding those two articles, consider yourself a player in my imitation game...

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Humans aren’t very good at identifying written content that’s been generated by AI.

The perils of workplace gossip: a career killer

The social and professional downsides to dishing on colleagues, as explained by Professor Maria Kakarika, Professor of Organisational Behaviour & Leadership.

Imagine this: you’re in the break room grabbing a cup of coffee when a colleague leans in and starts sharing the latest juicy titbit about another coworker. It’s a scene that plays out in workplaces around the world, a familiar part of office culture. We’ve all experienced it, either as passive listeners or active participants.

Many people believe that gossiping in this way is harmless, a way to pass the time and bond with colleagues, assuming it has little to no impact on their career. This perception often stems from the informal and seemingly trivial nature of gossip, which can make its serious repercussions easy to overlook.

However, this seemingly innocent activity can have far-reaching consequences. In fact, in new research I conducted with Dr Shiva Taghavi, and Dr Helena González-Gómez (both from NEOMA Business School) I found that gossipers are not only frowned upon by their peers, but also face social exclusion and negative career-related impacts.

Our research explored colleagues’ responses to workplace gossip and how they perceived the gossiper afterward. Through three separate studies, we aimed to understand whether gossiping affects the gossiper’s career or social standing.

In the first study, nearly 200 participants were presented with a workplace scenario in which a colleague either engaged in gossip or refrained from it. Participants then completed a survey assessing their views on the gossiper’s morality. The results were telling. Gossipers were viewed less favourably than their non-gossiping counterparts.

The second study introduced a gender variable, with 500 participants evaluating scenarios based around gossiping at work. It turned out that women viewed gossiping more negatively than men did. The study also measured participants’ behavioural reactions towards the gossiper, further highlighting the social consequences of gossiping.

The final study surveyed over 200 participants from various organisations about real-life gossip incidents they’d witnessed at work. Participants described these incidents and shared their thoughts and subsequent behaviours towards the gossipers. The findings were consistent: gossipers were often socially excluded. This exclusion manifested in various ways, such as being removed from social media groups, receiving less information, and even being ignored.

But the most alarming discovery was the impact on career progression. Gossipers were frequently rated poorly in performance evaluations, faced reduced chances for bonuses and were less likely to be recommended for promotions. These career-damaging outcomes underscore the serious implications of engaging in idle talk over the water cooler.

While this behaviour is prevalent in all organisations, this research gives those tempted to speculate about their colleagues’ lives reason to reconsider before opening their mouths. What may be just a small comment about someone’s work, or something more personal and less work-related, certainly says something much bigger about the gossiper.

These career-damaging outcomes underscore the serious implications of engaging in idle talk.

If gossipers realised that their actions reflected more poorly on themselves than the subject of their gossip, it could reduce the frequency of this behaviour in the workplace.

While it’s challenging to completely eliminate gossip, we suggest that organisations actively educate employees about its potential negative effects. By raising awareness of the career risks associated with gossiping, companies can foster a more professional and respectful workplace culture.

For example, an organisation could implement regular training sessions focused on communication and professionalism, emphasising the importance of maintaining a positive work environment. Additionally, leaders could model appropriate behaviour and address gossip swiftly when it arises. By creating a culture of openness and trust, organisations can mitigate the adverse effects.

While gossip might seem like a harmless way to pass the time, it carries significant risks for those who take part. Our research makes it clear: gossiping at work is bad for your career. By understanding and internalising this, employees can make more informed choices about their interactions, ultimately safeguarding their professional futures.

So, the next time you find yourself tempted to share something you’ve overheard about a colleague, remember – it might just come back to haunt you.

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How successful has the Chinese Central Bank Digital Currency been so far?

Professor Kevin Dowd, Professor of Finance and Economics, on the Chinese government’s e-yuan experiment and its shocking social implications.

ACentral Bank Digital Currency (CBDC) can be defined as a digital currency offered by the central bank to retail customers, i.e. ordinary people.

In China, the central bank, the People’s Bank of China (PBOC), began experimenting with CBDCs a decade ago and its CBDC, the e-yuan, has received a lot of attention.

In this article, I take a look at how this experiment is working out. The results might surprise you.

The first point to appreciate about the e-yuan is that it’s a means to reinforce the Chinese Social Credit System, i.e. to control the Chinese population.

This system, first announced in 2014, aims to reinforce the idea that “keeping trust is glorious and breaking trust is disgraceful”, as the government likes to put it. The idea is to impose standards of behaviour by rewarding good behaviour and penalising poor behaviour, but the government decides which is which and how good or bad the behaviour might be. You get surveilled when you go out and you get points added to or subtracted from your social credit score depending on how you behave. If your social credit score falls low enough, you get penalised.

Infractions include bad driving, smoking in non-smoking zones or buying too many video games. It also includes numerous political offences, such as posting fake news, criticising the Social Credit system or circulating pictures of Winnie the Pooh.

Punishments include not being allowed to buy a train or plane ticket, having your dog taken away, having your child denied a good school or having your internet connection slowed.

The e-yuan is also highly weaponisable and can be deployed against anyone who incurs the displeasure of those in authority, for any reason whatever.

An example shows how damaging this system can be:

Liu Hu is a journalist in China, writing about censorship and government corruption. Because of his work, Liu has been arrested and fined – and blacklisted. Liu found he was named on a List of Dishonest Persons Subject to Enforcement by the Supreme People’s Court as “not qualified” to buy a plane ticket, and banned from travelling some train lines, buying property, or taking out a loan.

“There was no file, no police warrant, no official advance notification. They just cut me off from the things I was once entitled to. What’s really scary is there’s nothing you can do about it. You can report to no one. You are stuck in the middle of nowhere.”

A low credit rating also leaves the victim exposed to the danger of a downward spiral involving extra paperwork or additional fees reminiscent of the Stasi’s infamous practice of Zersetzung: the deliberate policy of creating bureaucratic obstacles to make everyday life as difficult as possible for the victim. The threat of having one’s life turned upside down usually suffices to ensure compliance.

“It’s all about building trust,” explains the Chinese government.

China’s private mobile payments industry began in 2004 with the launch of the Alipay wallet app, Alipay being a payments provider owned by the Alibaba Group. Its user base had grown to about 1.2 billion by 2023. A second private payments provider is WeChat Pay, which is part of the WeChat family owned and operated by Tencent. It was founded in 2011 and had over 1 billion users by 2023. Together, these two firms leapfrogged hundreds of millions of people from cash and straight into mobile payments, and together now have well over 90% of the Chinese online mobile payments industry.

In the meantime, the PBOC had started researching a centralised CBDC in 2014. However, the e-yuan isn’t coming into being as a result of strong demand from the public, but is being imposed by the PBOC acting on behalf of the government. It’s also highly weaponisable and can be deployed against anyone who incurs the displeasure of those in authority, for any reason whatever:

… in a fully implemented CBDC system, governments could financially exclude individuals or entire groups of people with the press of a button, leaving them with nothing. Governments like the CCP could target dissidents, sexual minorities, ethnic minorities, or religious minorities. If banknotes don’t exist and access to governmentissued digital cash is revoked, then they are truly helpless (Gladstein, 2021, p. 283).

The PBOC’s assurances about protecting privacy therefore need to be treated sceptically. Though marketed as offering privacy for users, the e-yuan will offer the PBOC total surveillance capabilities, augmented by big data and AI.

However, the root problem with the e-yuan is that there’s no obvious use for a new digital currency, and that the e-yuan offers an inferior service to those already available from existing private providers.

These issues are similar to those CBDCs have encountered in other countries: demand for the CBDC is promoted by artificial gimmicks and propaganda, but the scheme doesn’t really work because the underlying demand isn’t there. In essence, you can create the CBDC but creating demand for it is much more difficult.

US academic Vagisha Srivastava argues that:

“Despite all of [the effort made to promote the e-yuan], the end-user has neither additional benefits nor convenience to make a shift from existing apps like Alipay and WeChat, both of which have a sufficiently large user base and merchant integration. The incentives offered are not lucrative enough for the user to use it consistently. If this user survey is to be believed, e-CNY lacks ‘attractive promotions, discount coupons, and giveaways’ for people to make a shift.”

Though marketed as offering privacy for users, the e-yuan will offer the PBOC total surveillance capabilities, augmented by big data and AI.

Users of e-yuan appear to have similar views, which boil down to the fact that Alipay and WeChat Pay are highly competitive and already offer them all the services they want. To quote a couple of them:

“For end users, using the e-CNY wallet is like you have to manage an extra bank account. It doesn’t give [users] many benefits nor convenience.”

Central banks are illequipped to interface with retail users, because they lack the business experience and acumen of private payments providers.

e-yuan issued 1.361 billion Equivalent to 0.96 e-yuan per capita or $0.136 per capita

“The only incentive that would make me use the e-CNY would be coupons and benefits, but the promotions have yet to be attractive enough.”

We have the familiar story from CBDCs in other countries that central banks are ill-equipped to interface with retail users, because they lack the business experience and acumen of private payments providers.

The latest available number of e-yuan issued is 1.361 billion for December 2022. This number is equivalent to 0.96 e-yuan per capita or $0.136 per capita

Yes, you read that number correctly. The total amount of e-yuan held per capita across the Chinese population is so low you can’t buy anything worthwhile with it

The e-yuan is an almighty flop!

It’s clear that the e-yuan project will clearly not lead to the widespread adoption of the e-yuan that its promoters had hoped for. If they choose to, Chinese policymakers could accept that China already has a good payments system and the e-yuan adds nothing of substance to it, because central bankers are ill-suited to provide retail payments and will realistically never be able to beat professional private payments providers at their own game.

If they wished for the best outcome for the Chinese economy, they should abandon the e-yuan experiment and leave the private sector to do the job for them.

For more on experiences with CBDCs so far and references to the quotes in this article, see Kevin Dowd “So far, central bank digital currencies have failed.” Economic Affairs, February 2024.

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The evolution of investor stewardship and the importance of aligning stewardship metrics, targets and outcomes

Professor Anna Tilba, Professor in Professor in Strategy and Governance, on why more meaningful stewardship is now at the top of the investment agenda.

On 30 April I had the privilege of speaking at a conference focusing on the theme of ‘The Varieties of Investor Stewardship’ in King’s College, London. The conference focused on promoting dialogue and collaboration among different stakeholders such as asset managers, asset owners, service providers, activist investors, investor associations, policymakers, legal firms and NGOs, aiming to illuminate the state of the art in the practice of stewardship – and where it’s heading amidst a changing UK political and economic landscape.

In my opening statement for the panel session I chaired on ‘Varieties of Different Metrics, Targets and Outcomes in Stewardship’, I noted that this event highlights a pivotal moment in our journey towards a more meaningful stewardship.

Over the past 15 years I’ve seen a profound change in the way we perceive stewardship – in particular how both UK asset managers and asset owners approach stewardship and engagement. For example, when I was carrying out my PhD research in UK investor stewardship practices nearly two decades ago, there was only a handful of asset owners who considered investor stewardship as an important element of trustee fiduciary responsibility to act in the best long-term interests of pension fund members. This meant not only looking at financial factors, but also non-financial factors. At that time, most asset managers were saying that their investment mandates were primarily focused on generating financial returns with frequent, quarterly evaluations of this performance. Stewardship was a desired but not a required option.

Fast forward to the present, and our recent research for the UK Financial Reporting Council into the Influence of the UK Stewardship Code on investor stewardship practices and reporting revealed that now most asset owners, like pension funds, require their investment fund managers to be either signatories to the UK Stewardship Code or its international equivalent, and they also regularly report on how they discard their stewardship responsibilities. There’s no doubt that stewardship and engagement is now firmly at the top and not the bottom of the investment agenda.

The meanings and issues of stewardship have also changed over time. 15 years ago, investor engagement focused primarily on governance issues such as executive remuneration and board composition with largely retrospective reporting on voting. Now these issues encompass broader environmental and social issues with focus on real outcomes.

The methods of stewardship have also changed to include now not only engagement with equities but looking at other asset classes and having more engagement with policymakers and the regulators on systemic issues. There’s also a growing significance of collaborative stewardship on thematic issues via initiatives such as The Stewardship Code, PRI, TCFD, Climate Action 100+, and the Paris Aligned Investment Initiative, to name a few.

Our success as stewards of capital is measured by the real-world impact we achieve.

Despite progress made in this area, challenges still remain. There is still a tension: while systems stewardship is a popular notion, investment fund manager mandates continue to prioritise financial or investment materiality over environmental and social issues.

The focus on ‘comply or explain’ that’s governed our approach to stewardship reporting for many years has served its purpose in promoting transparency, however, it’s also often fallen short in fostering genuine accountability. It’s allowed room for mere compliance without true commitment, often resulting in a lack of meaningful change.

A shift towards ‘apply and explain’ in stewardship reporting has brought with it a collective recognition that true stewardship extends beyond mere adherence to regulations. It demands proactive engagement, ethical decision-making and a genuine commitment to long-term value creation where investors and companies are encouraged to articulate not just what they do, but why and how they do it.

With that comes a proliferation of views on what successful stewardship looks like and how to both achieve and resource it. Demonstrating tangible improvements and changes is still a challenge. More stewardship and engagement doesn’t necessarily mean better outcomes.

There’s a growing need to better align stewardship metrics, outcomes and success measures across global stewardship initiatives.

In other words, appearance of stewardship doesn’t mean there’s a real substance of stewardship leading to a meaningful change. There’s also a lack of agreed standards on stewardship and problems with data quality and a multitude of competing reporting initiatives.

In this context there’s a growing need to better align stewardship metrics, outcomes and success measures across global stewardship

Professor Tilda speaking

at

‘The Varieties of Investor Stewardship’ conference held at King’s College, London.

True stewardship extends beyond mere adherence to regulations.

initiatives. Meaningful stewardship requires a deeper understanding of the various metrics, targets, and outcomes that drive it.

Metrics serve as a compass, guiding investors in assessing the performance and impact of stewardship. They encompass a wide range of quantitative and qualitative indicators, from financial returns to environmental, social, and governance criteria. By analysing these metrics, we can gain insights into the risks and opportunities inherent in our investment portfolios.

Targets, on the other hand, provide us with a roadmap for action. They delineate the specific objectives we aim to achieve within a given period, whether they be reducing carbon emissions, enhancing diversity and inclusion, or fostering ethical governance practices. Setting clear and measurable targets not only aligns our investment strategies with our values but also holds us accountable for our actions.

However, it’s the outcomes that truly matter – the tangible results that our investments yield in terms of social and environmental impact. While metrics and targets provide us with essential benchmarks, it’s the outcomes that determine the effectiveness of our stewardship efforts. Whether it be driving positive change in communities, mitigating climate change or promoting sustainable economic development, our success as stewards of capital is measured by the real-world impact we achieve.

Overall, a better aligned approach to stewardship enables not only effective monitoring of progress but also facilitates accountability and transparency in achieving desired outcomes. Ultimately, the synergy between metrics, targets and outcomes serves as a catalyst for responsible stewardship, driving positive change and fostering long-term value creation for both investors and society at large.

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Positioning people at the centre of change

IProfessor of Management

Julie Hodges, on her latest book addressing the common challenges of effective business transformation.

n recent years we’ve all become familiar with the idea of change.

From technologies reimagining what’s possible in our workspaces and homes, to the circumstances of the planet – environmental and humanitarian – necessitating a shift in how we go about our work and communications, to the evolving needs and desires of the next generation entering the workforce.

We all know this, of course. Hybrid and flexible work arrangements are becoming the norm, and more and more workplaces are championing the need for greener practices. “Adapt or die” is now a widely quoted adage in businesses. But how closely are businesses paying attention?

Despite understanding the need to be adaptable, organisations often struggle to create and manage effective change. Why? Many leaders are failing to grasp what change really means and, more importantly, fail to recognise that to enact effective change, they must reconsider the methods they use to devise and introduce changes to a workplace. Leaders themselves must change too.

The traditional linear or ‘top down’ models of change management are hopelessly out of touch with how modern industry operates, especially in the wake of recent global challenges. No longer are workers content to simply fall in line. Today’s business world requires greater connection between staff and senior leadership, and today’s workers desire to be heard and considered beyond the day-to-day demands of their roles. Indeed, the shift to

Today’s business world requires greater connection between staff and senior leadership.

more flexible working is a key example of how essential it is to democratise the way in which business transformations are conducted.

Central to any form of organisational change are people. To make any shift away from the status quo of business successful, an organisation’s people – from top to bottom – must be on board and willing to work in support of new systems. Change should be delivered with, rather than, to people.

Through discussions with senior leaders, managers and frontline staff across the globe, I’ve identified a set of common concerns about enacting effective business transformation in the changing workplace, including:

• how to engage stakeholders in change

• engaging opposing voices (see my earlier article on page 6)

• creating effective communications

• positioning change as an opportunity rather than a threat

• the evolving nature of the role of managers in transformations

• the impact of change on wellbeing, and

• fostering collaboration and inclusivity.

Each of these concerns, and indeed their solutions, hold people at their heart. Inspired by these discussions, my latest book, ‘People-centric Organizational Change: Engaging Employees with Business Transformation’ focuses on these challenges and guides organisations on how to address them in a people-centric way. And, like overcoming many common businesses

challenges, good communication is key.

Too often, the people dimension is only considered after a transformation has started, and in many cases not until the end of the process which is usually too little, too late. The successful achievement of any major change necessitates involving people at all levels of an organisation as early as possible. Such participation builds trust both in the change process and between management and employees.

Also, participation reduces opposition to change. My book posits that individuals and teams shouldn’t merely participate but also be responsible for identifying challenges and developing solutions.

Another key element lies in realising and sustaining the benefits that the proposed changes can bring to staff and the organisation’s wider community.

Naturally, the ways in which change will work for some organisations won’t work for others – there is no one set path to follow.

However, to help illustrate how peoplecentric change can work in practice, the book combines the feedback from workers with my own research, teaching and consultancy work, which spans several decades. It also poses questions throughout, prompting selfreflection for readers, exploring how the lessons highlighted on the page might be applied in practice to organisations they work for.

To help readers to bring some structure to how they engage their people with change, a

Despite understanding the need to be adaptable, organisations often struggle to create and manage effective change.

range of frameworks are also shared. As a result, readers can become more effective in engaging others with change as well as better engaging themselves, achieve their aims and gain new skills along the way.

Most importantly, the book is a call to action to cultivate and implement a more people-centric, collaborative approach to how business is done, encouraging leaders to consider different perspectives and, importantly, to make the leap from ideas to action.

After all, any individual in an organisation can inspire and influence change. And, as the future ahead promises to bring more uncertainty and revolution, it’s vital to afford people the permission and autonomy to think beyond their job descriptions and help to transform the workplace and the work that they do. Only by gaining their full trust and involvement will adapting to and bringing in new change be successful.

‘People-centric Organizational Change: Engaging Employees with Business Transformation’ is published by Kogan Page, and is available through scanning or clicking the QR code.

Part-time professional doctorate delivering theoretical and practical impact

IGlobal Doctor of Business Administration candidate, Uday Bose, reflects on the opportunity to present his research at an international symposium.

’m pinching myself as I write this short article about my experience on the Global DBA (GDBA) programme from Durham University and emlyon business school. Why would I pinch myself you may ask? Well, it’s because I’m writing this having just presented a part of my doctoral research at the ‘7th International Perspective on Leadership Symposium’ (IPLS) in Thessaloniki, Greece. There’s so much in that sentence that simply blows my mind!

When I embarked on the programme in 2020, I did so with an earnest desire to better myself and prove to our three daughters that when you dedicate yourself to something – no matter how big the challenge may be, you can succeed. The programme has been challenging in ways I’d expected, but also in ways I couldn’t have imagined. Our cohort was directly impacted by the pandemic, so we missed many of the interaction opportunities that make education so fulfilling. Holding down full-time jobs, managing personal priorities, and taking on a GDBA effectively remotely isn’t easy. However, I’m so proud of our cohort who’ve stuck together throughout.

I embarked on my research study in earnest in 2023 and was immediately struck by how significant a challenge this was going to be. The scale and scope was unlike anything I had done before and it was, and continues to be, a very daunting task. The literature review is a good example of this. The scope of my research required a review that spanned almost 10,000 articles. Applying methodologies I’d learned during the modules, as well as the counsel of my supervisors, I set about organising myself and my approach. I landed on just over 150 articles that warranted the more detailed

review and worked hard to distil the information into the context of my research. My supervisors, and especially Professor Braun, encouraged me to submit my work for a conference. I would never have thought that possible, but again was pushed out of my comfort zone and went ahead and prepared the submission. To my delight, and shock, the abstract was accepted and here I am, writing about my experience following the presentation.

Working full-time while pursuing research isn’t the norm, but as I described the DBA programme people were generally quite intrigued.

The 7th IPLS meeting was attended by just over 150 delegates and spanned four days. I met several outstanding experts in their fields of research, as well as many students. I must confess to feeling out of place for much of the meeting. Working full-time while pursuing research isn’t the norm, but as I described the DBA programme people were generally quite intrigued. When I described my research, I was also encouraged by the enthusiasm and the ideas that were being shared. One of my highlights was a message from Dov Eden, who is Professor of Corporate Leadership at Coller School of Management, Tel Aviv University. His message to the researchers was that we should aim to be consultants as well as academics, as this is the best way to deliver impact of our research. He reinforced that managers in companies do not read our papers, and we’re not writing for them. The message really resonated with the DBA programme. The presentation itself went well and I was able to gather valuable feedback for my research. None of this would have been possible without the support of my supervisors, Professor Braun from Durham and Professor Lai from emLyon, so a big thank you to them for their support on the journey to date, and gratitude for their continued support over the coming months.

The experience reinforced to me that I can challenge myself and work outside of my comfort zone. It also gave me additional motivation and drive to accelerate my research and deliver something that offers both theoretical and practical impact… wish me luck!

Scan or click the QR code for more information on the Durham-emlyon Global DBA.

Uday with supervisor

Professor Susanne Braun, Associate Dean for Postgraduate Research Students.

Introducing Waterside: a transformative addition to our facilities

In September 2024, the Business School’s new Waterside building opened its doors to staff and students, realising a key strategic ambition of acquiring a central city site in Durham.

Located in the Sands area on the east bank of the River Wear, just a short walk from the historic marketplace, the 11,000-squaremetre facility adds a dynamic new space to the School. Originally built for the County Council, a change of circumstances allowed the University to acquire it for the Business School in October 2022. This signalled the start of a major refurbishment project to create a space for a triple-accredited international business school to support education and research activity.

This development enhances connectivity with the city, region, and beyond, demonstrating the School’s commitment to sustainability while offering exceptional facilities for our students, staff, and broader community. Deputy Executive Dean, Professor Toby Watson, and Faculty Manager, Marcia Hoynes, led the project and oversaw the transition to a two-site Business School. Adding to the estate allows students and staff across the School to benefit from the latest learning and teaching facilities at Waterside.

Toby remarks, “Throughout the project, we engaged students, staff and stakeholders in designing our new building to support our research and education and to create a space fitting of a leading business school. The building directly reflects so much of this input, and it’s been wonderful to see it open and actively used, with very positive feedback.”

Marcia adds, “The key drivers were to enable excellent collaboration, connection and fantastic learning with the ability to fulfil our world-leading research. We wanted to create a sustainable space that everyone could enjoy.”

Sustainability features prominently in the project, aligned with the School’s strategic transversal themes of ethics, responsibility and sustainability. We worked closely with refit contractor Overbury to ensure that the project also offered social value to the local community. For example, spare plywood was

donated to a local college, where students crafted swift bird boxes as part of their training. These boxes were then distributed across the University campus. The project also supported over 500 hours of volunteering, including engagement with multiple local schools, and a design competition for sixth form students to create artwork for the hoardings outside the building during refurbishment.

The collaboration with Overbury proved successful, with the project earning a SKArating gold award, recognising environmental responsibility and excellence in sustainable design and delivery for interior fit-out projects.

Toby comments, “We’re delighted that the Waterside building has been awarded SKA gold; this reflects the very detailed amount of work undertaken to ensure we considered sustainability in every aspect at every stage of the project.”

Adding to the estate allows students and staff across the School to benefit from the latest learning and teaching facilities at Waterside.

Waterside’s central location makes it accessible, providing a step change for connectivity within Durham, the region and internationally, benefiting research collaborations, events and Executive Education programmes taught here, including the MBA, DBA and short courses. Positioned as a cornerstone of Durham’s Innovation District, Waterside will continue to provide entrepreneurial support to local startups and small businesses, a role the School has fulfilled for 60 years in 2025.

As part of the upcoming anniversary celebrations, Waterside’s official opening is scheduled for early 2025, with more details to come. An independent research project on the School’s city centre presence estimates the economic benefit of the new facilities at £32.2 million , alongside 185 new jobs in County Durham.

Scan or click the QR code to take a tour of the Waterside building in a 2-minute walkthrough video.

*BiGGER Economics Report 2022.

My MBA Strategic Consulting Project with the British Film Institute

MBA graduate Devyani Dande explains how she applied a tiered charging model to evolve the BFI’s diversity consulting services in the screen industries.

As a part of our final term for the MBA Strategic Consulting Project (SCP), I chose the British Film Institute’s (BFI) tiered charging model for their Diversity Standards. The BFI wants to develop a charging model for consultations, implementation and administration of these frameworks, currently provided in-kind to industry partners/stakeholders. This will generate sustainable income reflecting staff capacity.

For this project, the emphasis was on research methods to migrate the currently free services to a tiered, equitable model sensitive to profiting from diversity work. Deliverables are a comprehensive, adaptable business model with realistic, sustainable income growth areas. The model should consider an evolving inclusion landscape, data interrogation for capacity and seamless transition from free services.

I conducted extensive research and stakeholder interviews to develop a comprehensive threetiered charging model for the BFI’s Diversity Standards consultancy services. I researched extensively, reading approximately 55-60 highly relevant articles, reports and case studies that provided the comprehensive insights I needed to fully understand and evaluate the proposed model. I carefully analysed sources covering each pertinent aspect – pre- and post-BFI diversity scenarios, organisational stakeholder importance, tiered charging precedents and third-party assessments of BFI’s current diversity standards. By incorporating diverse perspectives from authoritative sources on the model’s key components, I gained a well-rounded and unbiased perspective. This enabled me to make data-driven recommendations confidently supported by my thorough investigation of the academic literature and industry best practices about the specifics of this model.

My expansive research provided the foundation to evaluate the model from all angles and make informed recommendations with conviction. The pricing model establishes review fees based on film budgets, with higher budget films meaning a higher cost of assessment, along with discounts on fees for meeting more of the BFI’s five Diversity Standards. Additional outcomes include proposing BFI certification to affirm compliance and provide value, enhancing the assessment process through robust feedback and increased staff capacity, and interviews that highlight the need for an adaptable, ethical model, balancing revenue generation with social impact. The project created a tailored framework to help the BFI generate sustainable income from its expertise in diversity standards through this tiered pricing model, certification, optimised assessments and staff growth.

The SCP for the BFI provided invaluable insights that have shaped my perspective on equality, diversity, and inclusion in a global context. I gained a deeper understanding of the British film industry’s workings, the views of producers towards diversity, the casting process and post-production work. Through research on the BFI’s rich history, Diversity Standards and efforts to improve representation in UK cinema, I appreciated this organisation’s meaningful commitment to equitable inclusion. Additionally, I had the opportunity to apply these learnings by thoughtfully designing a tiered charging model to further the BFI’s mission of celebrating difference and amplifying unheard voices. This experience has enriched my approach to embedding diversity in all aspects of an organisation.

Scan or click the QR code to find out more about the Durham MBA (Full-time) programme.

The MBA Boardroom Exercise’s 20th anniversary

Professor Joanna Berry, Associate Dean for Engagement and Professor of Entrepreneurship, reflects on a groundbreaking module now in its twentieth year.

This year was the 20th iteration of the Full-Time MBA Boardroom Exercise. This much-valued and unique module has been run over the last two decades, introducing our students to the challenges and opportunities of a real-life Boardroom Experience.

Alumnus and Honorary Professor Robin Gilchrist is part of the team that helped to start this unique module, and he now assists me (as Module Leader) most ably in ensuring that the module stays on course, is relevant to the markets, situated in a clear macroeconomic environment and contributing to the future employability and careers of our students. The module allows students to focus on the innovation

We involve business leaders and alumni from all over the world in this exercise.

and appropriateness of their proposals in the boardroom process as well as being assessed on teamwork, financial insight and strategic thinking. It’s a lot for them to take on!

Our client company this year was bp, which presented some serious and complex issues of sustainability (in all its senses), ethics, Equality, Diversity, and Inclusion (EDI), and global business environment for our student to tackle. And (largely thanks to the patience and organisational skills of the teaching and learning team who support us), we have a little flexibility to squeeze in updated information to the regular module content.

• For the first time we ran a ‘mock board’, with the assistance of a select group of Non-Execs, showing students a live 90-minute snapshot of what a board meeting looks and feels like, and providing examples of appropriate language, timing, coordination and information delivery in a blended (online/face-to-face) environment.

• We had a session on digital technologies in the Boardroom, thanks to Nick Ewen and our friends from Mazars.

• MBA Advisory Board member Aarti Samani presented on Artificial Intelligence (AI) generated risks, focusing on the concept of deepfakes and on frameworks, mental models and use cases for AI-led growth.

These all come along with more regular sessions, including one from our bp ‘informant’ Tom Bond (Head of Biofuels Growth, EMEA), as well as input from our Non-Executive Directors (NEDs) and the teaching team on governance, the energy environment and teambuilding. There was a session (always fun) from Shak Tabaqchali, one of last year’s alumni and now Durham PhD student, talking the cohort through his experience of the module. All of this input adds significantly to our students’ store of knowledge and insight, not only relating to the Boardroom Exercise, but also more broadly as corporate citizens. The student teams have the added incentive of two awards to aim for – The Rodney Galpin Award for the best set of papers, and The bp Innovation Award for the most innovative proposal to the Board (judged by Tom Bond).

All of this input adds significantly to our students’ store of knowledge and insight, not only relating to the Boardroom Exercise, but also more broadly as corporate citizens.

Robin Gilchrist, Chris Lyons, Mark Clements, Phil Boyd and Graham Oldroyd are key alumni in the creation and ongoing success of this unique module. Our own Professor Les Graham is the rock on which the MBA Boardroom Exercise was built. It was then developed, fine-tuned and led for a number of years by Peter Allen, before I was lucky enough to inherit the Module Leader role. We involve business leaders and alumni from all over the world in this exercise. We’re fortunate to have input from experts in finance, HR, governance, marketing, strategy, economics, and this year the energy industry in particular – critically important given the nature of this client company. bp has a hugely ambitious strategy for growth, and for the development of renewable energy options given the urgency and rapidity of climate change. Students are given valuable energy industry oversight from Roger Murray, a retired bp senior executive. Our students’ ability to contribute to some of the UN’s Strategic Development Goals has been refined through their exposure to real insight into a highly structured, global industry in a challenging macroeconomic environment and with a very complex supply chain.

We’re aware that this module is timeconsuming, thought-provoking and stretches our students in many ways. It involves the application of learning from every module in the MBA programme. It requires skill and diplomacy, demanding strong leadership, effective and efficient teamwork. It emphasises the importance of independent critical thinking. It requires our students to show initiative and to produce and rationalise informed, innovative thinking. It refines and hones to a sharp point everything that Durham graduates are employed to contribute in the competitive world of work. It also requires our students to fully understand the impact of corporate actions on the planet and its people, and highlights the importance of corporate, and individual purpose as well as – if indeed not more than – profit.

I’m so proud to be module leader for this Exercise; it’s the one that most students ask about when I interview potential MBA students.

I’m so proud to be module leader for this Exercise; it’s the one that most students ask about when I interview potential MBA students, and the one that most of our alumni look back on with a mix of accomplishment and exhaustion! Our 21st birthday next year will be another milestone in this exceptional event; impossible without our fabulous Non-Executive Directors, my tolerant colleagues (especially Julie Hodges and Zsófia Tóth) stepping in as second markers in the weeks running up to the event, our amazingly organised Professional Support Staff, and particularly our Honorary Professor Robin Gilchrist.

Scan or click the QR code for more information on the Full-time MBA.

Scan or click the QR code for more information on Professor Joanna Berry.

1. Alumnus and Honorary Professor Robin Gilchrist with Joanna Berry.

2. Front row: L - R Non-Executive Directors Phil Boyd and Shaba Tabaqchali with one of the boardroom teams.

3. Arti Samani presenting on AI generated risks.

4. Full-time MBA 2023 cohort in the Mill Hill Lane Harvard Lecture theatre.

5. Joanna and Arti at the concluding celebration.

The School’s MSc Business Analytics programme offers students a unique opportunity to bridge the gap between academia and the business world through practical, hands-on projects. These Business Projects provide students with real-world experience, while delivering significant benefits to partnering companies. A leading example of this is the successful project undertaken by recent graduate Eddie Cui, with Stanley Black & Decker.

The project’s objective was to leverage advanced data analytics techniques, focusing on natural language processing through large language models (LLMs), to gain insights from customer reviews and ratings across various e-commerce platforms. The aim was to enhance Stanley Black & Decker’s understanding of customer sentiment, which is crucial for the continuous improvement of their product and brand.

“The Business Analytics project was a great opportunity to get to know the world outside of academia. It allowed me to take what I had learned in the classroom and apply it to a real-world situation,” shares Eddie.

Upon project completion, a representative from Stanley Black & Decker expressed that the company was highly impressed with Eddie’s contributions: “The results surpassed our expectations. The successful implementation of the data collection and analysis tools not only provided us with actionable insights but also streamlined our customer feedback processes, setting a new benchmark for our data analysis capabilities. Eddie showcased exceptional skill and dedication. His ability to manage complex data sets and extract meaningful patterns was remarkable.”

The real-world benefits of an MSc Business Analytics project for graduate Eddie Cui

Business Projects maximise learning and impact through close collaboration, while also significantly boosting employability.

Business Projects maximise learning and impact through close collaboration, while also significantly boosting employability, as Eddie who’s now employed as a Data Analyst at Stanley Black & Decker reflects.

“The process of working on the project at Stanley Black & Decker was very positive. The company was very supportive, and with the help of my professor, Dr Thiru, we collaborated closely to ensure the project’s success. I am grateful for the support provided by Durham University. The project connected me to the business world, where I learned from real challenges.”

Hosting a Business Project provides organisations with innovative solutions to real-world challenges while fostering valuable academic–industry collaborations, as illustrated by Stanley Black & Decker’s final thoughts:

“The collaboration with Durham University, facilitated by Eddie’s hard work, has been a rewarding experience, and we are eager to explore further opportunities to collaborate on similar projects in the future.”

Scan or click the QR code for more information on Business Projects.

A lasting impact: my international study visit to Germany International study perspectives

Each year the School’s International, Engagement and Careers team arrange exceptional international learning opportunities for MBA and Masters students. International Coordinator, Jamie Weston, introduces the activity and reflections by this year’s participants.

The International Study Tour modules at Durham University Business School are a unique opportunity for students to immerse themselves in local business cultures at the destinations offered, visiting international organisations and companies, and learning of the complexities faced operating in the global marketplace. Through inspiring lectures and workshops at prestigious partner institutions, and on-site visits at innovative companies, students are given an insight into practical organisational systems, and have the opportunity to learn firsthand from industry leaders.

This year’s students travelled to Barcelona, Stockholm, Athens, Mannheim, Lyon and Brussels, with each destination offering its own unique perspective on international business, policy, operating strategies and sustainability. Students not only pushed themselves academically, but also developed their own cultural awareness, appreciating how these factors come into play on the global market. You can read more about these opportunities in the words of of Arnab Das, Sumit Bhatia, Harry Finch and Eason Chen.

MBA student Arnab Das’s career-shaping experience abroad.

Embarking on an international study visit as part of my MBA programme was both exhilarating and slightly daunting. I anticipated a journey filled with rich cultural experiences, exposure to global business practices, and ample networking opportunities with international professionals. However, my time in Germany exceeded all these expectations in profound and unexpected ways.

A cultural and educational immersion

Before the trip, I envisioned structured learning sessions, site visits to prominent companies, and insightful lectures from business leaders. While these elements were indeed part of the itinerary, the actual experience was far more enriching. Immersing myself in German culture, participating in hands-on learning activities, and engaging in informal interactions with local professionals and fellow students added layers of depth to my understanding that I hadn’t fully anticipated.

Bridging theory and practice

Academically, the visit provided practical insights into the theoretical concepts learned in the MBA classroom. Touring global companies like FUCHS, Hager Group and SAP allowed me to witness cutting-edge technology and innovative business strategies first-hand, particularly in the context of the internationalisation process. These visits showcased how these companies navigate the complexities of global markets, providing a realworld counterpoint to classroom theories.

The study trip also offered a deeper understanding of Germany’s socio-economic landscape, particularly the Mittelstand (small and medium-sized enterprises) environment. The German Mittelstand culture, characterised by risk aversion, family orientation, trust, high quality and incremental R&D, was exemplified in our discussions. Professor Alexander Pfisterer of Mannheim Business School illustrated the critical role of Mittelstand firms, which comprise over 99% of all firms in Germany, and their substantial contribution to the economy, especially in rural regions. This exposure enhanced my appreciation of how socio-economic and political contexts influence business practices.

This experience solidified my belief in the necessity of cultural competence in today’s globalised business environment.

1. Students enjoying Heidelberg.

2. Opportunities to explore the historic town.

3. Arnab and Prof. Alexander Pfisterer at Mannheim Business School.

Personal growth and cultural insights

Navigating a foreign country and engaging with diverse individuals boosted my confidence and broadened my worldview.

Observing Germany’s meticulous approach to efficiency and quality control highlighted the importance of cultural nuances in business operations.

Interacting with professionals from various backgrounds underscored the value of diverse perspectives in fostering innovation and solving complex problems. This experience solidified my belief in the necessity of cultural competence in today’s globalised business environment.

Shaping future aspirations

The study trip has undeniably shaped my career aspirations and future plans. Witnessing Germany’s robust engineering and manufacturing sectors piqued my interest in exploring opportunities within these industries. The trip reinforced my aspiration to work in an international context, where I can leverage the cross-cultural skills and global business acumen gained during the visit.

Unforgettable moments

One standout moment from the trip was our visit to the Hager headquarters in Saarland. Observing the intricate manufacturing processes up close and learning about Hager’s commitment to sustainability and innovation was incredibly inspiring. This experience epitomised the blend of tradition and modernity that characterises German industry and left a lasting impression on me. In my free time, walking through the streets of Mannheim was a delightful experience, savouring the local cuisine, visiting the iconic Mannheimer Wasserturm, and soaking up the city’s vibrant culture. Overall, the international study visit was a pivotal part of my MBA journey. It enriched my academic knowledge, fuelled personal and professional growth, and broadened my global perspective. The insights and experiences gained will shape my business approach and career for years to come. This visit was transformative and will remain a lasting influence in my professional life.

Scan or click the QR code for more information on the Durham MBA (Full-time) programme.

Lyon: the turning point in our MBA journey

Master of Business Administration student Sumit Bhatia on how his culturally immersive international study experience has shaped both his future ambitions and professional ethos.

Our international study visit to Lyon, France, was an eagerly anticipated highlight of the Durham MBA (Full-time) programme.

As we set off, I expected to gain practical insights into international business and immerse myself in French culture. What unfolded was a deeply transformative experience that reshaped my understanding of global business and my professional aspirations.

Arriving in Lyon, we were warmly greeted by emlyon business school. This initial hospitality set the tone for a trip that was as much about cultural exchange as it was about academic and professional growth. My initial expectations were centred around gaining practical knowledge from industry leaders and understanding the nuances of

The knowledge and experiences gained from

this trip are invaluable to my future pursuits.

the French market. What I experienced was far richer and more profound. Our visits to companies like Sanofi, MGA Technologies and Aldes Groupe were eyeopening. These organisations exemplified the integration of global strategies with local adaptations. At Sanofi, we learned about their ‘glocalisation’ approach –maintaining global standards while tailoring strategies to local markets. This concept was brought to life during a presentation by their Quality Manager, who explained how Sanofi balances global consistency with regional specificity in their product launches.

The seminars we attended provided invaluable context. Professor Vincent’s discussion on France’s political landscape highlighted the complexities businesses face amid social and political unrest. Understanding these dynamics emphasised the need for companies to be agile and prepared for instability. Professor Lina Amitrano’s insights into French business culture, particularly the importance of worker rights and collective bargaining, underscored the balance between maintaining employee satisfaction and managing operational costs. Immersing ourselves in French culture was a significant aspect of this trip. The emphasis on ‘liberté, égalité, fraternité’ and the secular nature of French society were cultural pillars that permeated our interactions. This immersion deepened my appreciation for the subtleties of crosscultural communication and the importance of cultural sensitivity in international business.

1. Sumit Bhatia.

2. Students visit the Chamber of Commerce.

Interacting with professionals from different countries enriched my learning experience. Discussions with Aldes Groupe’s leadership about their sustainability initiatives were particularly inspiring. Their approach to integrating sustainability into every aspect of their operations made me rethink the role of corporate social responsibility (CSR) in business. This experience has shifted my career aspirations towards roles that emphasise ethical practices and sustainability.

A memorable highlight was our visit to MGA Technologies. Their pioneering work in robotics and 5G technology was not only impressive but also showcased the potential for innovation in transforming industries. This visit highlighted the importance of staying ahead of technological advancements and integrating them into business strategies.

The knowledge and experiences gained from this trip are invaluable to my future pursuits. Understanding the importance of balancing standardisation with local adaptation, as seen in Sanofi’s strategies, will guide my approach to global market opportunities. Additionally, the importance of ethical practices and sustainability, reinforced during our visits, will be central to my professional ethos.

The international study visit to Lyon has been a pivotal part of my MBA journey at Durham University Business School. It not only enriched my understanding of international business, but also fostered significant personal and professional growth. The insights gained from this trip will guide my future career, with a renewed focus on ethical business practices, cultural sensitivity and strategic agility. This journey has been more than an academic requirement; it has been a transformative experience that will shape my approach to global business for years to come.

Scan or click the QR code for more information on the Durham MBA (Full-time) programme.

Exploring European finance: a transformative study trip to Brussels

Harry Finch, MSc Finance (Finance and Investment) on meeting industry leaders and gaining new insights during his module in Belgium.

As part of my International Study Tour module with the School, I had the chance to travel to Brussels, Belgium. This journey offered a unique opportunity to immerse myself in the world of European finance, visiting key financial institutions and gaining insights into sustainability practices, economic policies, new technology implementation and so much more.

Developing my understanding of how financial institutions have integrated themselves within Brussels’ infrastructure and the Belgian economy, combined with my desire to travel, was a major factor in joining this module and it certainly didn’t disappoint. The prospect of interacting with industry leaders and observing financial operations in a different context was compelling.

Each day consisted of visits to different institutions, complemented by teachings from lecturers at Solvay Business School and esteemed individuals within the finance industry, as well as excursions to the European Parliament and European Commission. Before the trip, we worked in groups to deliver a project for each company, guided in academic workshops by our module leader.

The week began with a lecture from Professor Bernard Nicolay, who outlined the purpose of the study tour before we departed to AG Insurance. Here, we delved into the

company’s sustainability initiatives, highlighting the intersection of finance, insurance and environmental responsibility. Chief Investment Officer, Wim Vermier, enlightened us about the intricate sustainability initiatives aimed at reducing the company’s impact, and most interestingly those surrounding ‘ethical’ investments. In the evening, we were provided a fantastic welcome dinner, which gave the group an opportunity to network and socialise.

Tuesday began with a masterclass in data science within the finance industry, a topic I’m personally very interested in. The lecture was provided by Professor Patrice Latinne, a Partner at EY specialising in data and AI. The lecture introduced the history of data science and AI within the industry, but most interestingly delved into the future capabilities and possibilities of this fascinating branch of technology. Our afternoon visit was to Molengeek, an interesting non-profit aimed at helping young programmers develop their talents and progress their ideas into reality.

Wednesday morning’s company visit was Euronext, who provide the market infrastructure for seven nations in Europe and were the company my group and I would present to. We were honoured to have the opportunity to deliver our presentation to the CEO of Euronext Brussels, Benoît van den Hove. We learned about the responsibilities of Euronext within Belgium and across Europe, including the history of financial markets and how they’ve progressed to where they are today. Another highlight was our visit to Euroclear, a market infrastructure company specialising in

1. Consulting Project presentation at Euronext.

2. Students visit the EU Parliament.

securities settlement and asset servicing. They provided a unique panel discussion with heads of various departments which my peers and I particularly enjoyed. Learning about legacy technology and its impact on data centres worldwide was fascinating.

At the National Bank of Belgium, we explored the role of national banks in economic stability and policymaking. The concept of Central Bank Digital Currencies (CBDCs) was a new and intriguing topic for me. Our visits to the European Parliament and European Commission provided a deeper understanding of the European Union’s legislative processes and their impact on financial institutions.

I wish to express my gratitude to the School, in particular, the module leader and colleagues within the International, Engagement and Careers team for their efforts towards making this trip as insightful and rewarding as it was. Special thanks to our hosts at Solvay Brussells School, who played a crucial role in organising the trip.

I would wholeheartedly recommend this module to any Finance Masters student wishing to expand their horizons. The trip not only broadened my understanding of the financial sector, but also provided a comprehensive overview of Brussels, a city buzzing with economic and political activity. I’ll be proud to speak about my experiences on this trip during interviews with prospective employers.

Scan or click the QR code for more information on the MSc Finance programme.

Bridging theory and practice: my International Study Tour experience in Barcelona

MSc Management student Eason Z. Chen on leading a team and enhancing skills while on his International Study Tour.

Ihad the incredible opportunity to participate in the International Study Tour module to Barcelona, Spain. This immersive experience, organised in collaboration with Esade Business School, provided invaluable exposure to the vibrant business landscape and allowed me to engage with industry leaders across diverse sectors.

Driven by my desire to enhance my skills in consulting and project management, I eagerly embraced the opportunity to join the International Study Tour. This experience was an excellent platform to bridge my theoretical knowledge with real-world application. Moreover, the chance to network with professionals and gain insights into industry-leading companies presented invaluable rewards for my personal and professional growth. Additionally, studying at Esade Business School, one of the world’s top business schools, promised exposure to cutting-edge business practices and the opportunity to engage with some of the brightest minds in business. This combination of practical experience, professional networking and high-quality academic instruction made the module an irresistible choice for advancing my career and personal growth.

This combination of practical experience, professional networking and highquality academic instruction made the module an irresistible choice.

During the study tour I had the privilege of leading a committed team to start a strategic consulting project for Grupo Freixenet, a renowned Spanish sparkling wine company. Our task was to develop business plans aimed at enhancing market penetration among Gen Z customers in the UK and China markets. The guidance and insights provided by representatives from Grupo Freixenet were invaluable in shaping our approach and recommendations, which resulted in excellent feedback from the company representatives after our presentation, and our research provided key strategies for the team to take away. Beyond the project, we also engaged with industry leaders across various sectors, including advanced technology company, HP 3D Printing, two innovative startups, Hustá and Silenciosa, and a leading beverage company, Damm. I’m truly grateful for the warm introductions and knowledge shared by these esteemed experts, which enriched our learning experience and broadened our horizons.

In addition to the business-focused activities, another highlight was exploring Barcelona’s rich cultural heritage. Accompanied by a friendly local guide, we visited the iconic La Sagrada Familia, a masterpiece of architecture by Antoni Gaudí. It was a truly marvellous experience that deepened our appreciation for this city’s artistic legacy.

Lessons learned and future prospects Working on this project significantly enhanced my leadership and project management skills. One of the most enriching aspects was leading a multicultural team. Our group comprised individuals from diverse backgrounds, each bringing unique perspectives to the table. Initially, navigating cultural differences and establishing a cohesive working dynamic presented challenges. However, through open communication, active listening and a willingness to embrace diverse viewpoints, we gradually built trust and fostered a collaborative environment.

As the leader, I also gained invaluable insights into how to make quick decisions. New ideas and challenges continuously emerged during the research stages which required me to rapidly analyse information, weigh alternatives and make sound judgments under pressure. I learnt the importance of gathering relevant data, considering diverse perspectives from team members. This ability to make timely and well-reasoned decisions in a rapidly evolving environment is a vital skill that will serve me well in future leadership roles, where quick decision-making can mean the difference between success and failure.

The skills and insights gained from this study tour will be instrumental in my career development. The experience has made me realise the importance of continuous learning and adaptability in a rapidly changing business landscape. My journey in Barcelona was a transformative experience that bridged the gap between theory and practice, enriched by the guidance of industry leaders and my peers. I’m grateful for the opportunity and look forward to leveraging these experiences in my future endeavors!

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1. HP Inc., San Cugat de Valles.

2. Consulting Project Team, Freixenet.

3. Students visit La Bodega, Cava Centre, Freixenet.

Stitching success: how a sustainable futures module inspired a scrunchie startup for education empowerment

IMegan Holley, BA Business and Management alumna, reflects on a module that inspired a social enterprise.

n August 2023 I had the opportunity to visit Vispa Emmanuel School in Kisumu, Kenya, as part of a Northern Ireland mission trip. This experience gave me a unique insight into the daily lives of schoolchildren in sub-Saharan Africa. The trip opened my eyes to the poverty faced by individuals in Kisumu and the challenges associated with alleviating their struggles in an equitable and culturally sensitive manner. Following this trip, I began the final year of my Business and Management bachelor’s degree at the Business School. Instead of the conventional dissertation option, I chose to pursue a novel project-based module with an explicit focus on research addressing grand challenges. The ‘Strategising for Sustainable Futures’ module, led by Dr Jeffrey Hughes, provided an avenue to further explore the obstacles I’d encountered in Kenya and investigate how a strategic approach might reduce some of these barriers. My project took a strategy-as-practice lens and focused specifically on the actions of non-governmental organisations in tackling schoolgirl dropout rates in Kisumu. During this experience, I had the privilege to interview both staff and students at Vispa Emmanuel School. Equipped with relevant theoretical perspectives and methodological approaches acquired over the course of the module, I gained a comprehensive understanding of the specific obstacles standing in the way of educational progress in Kisumu. Throughout these interviews, the prevalence of period poverty emerged as a glaring obstacle to female education. Several students commented on the lack of sanitary products and facilities, forcing them to miss up to a week of school per month during their menstrual cycle. In addition, the desperation for such basic amenities was posing a risk to many girls’ safety, with some resorting to ‘sex for pads’ to gain access to these products.

Away from the pressure cooker of the University library and final-year assignments, I took up crocheting as a means of stress relief and began making hair scrunchies. At first, I made these scrunchies for friends and family, but I started to gain interest from other students who not only wanted to get their hands on these scrunchies but were willing to pay for them! This prompted the formation of Sasa Girlss, a scrunchie business operated by my two university housemates and me. This business was set up as a non-profit with a clear mission: to raise funds to ease the widespread obstacles to education for women, as illuminated by my sustainable futures project.

Sasa Girlss Instagram page.

The business was set up as a non-profit with a clear mission: to raise funds to ease the widespread obstacles to education for women, as illuminated by my sustainable futures project.

The name ‘Sasa’, meaning ‘now’ in Swahili, underscores the urgent need for immediate change in girls’ education. Our scrunchie business aimed to take a step towards this vitally important reform. Our first collection of scrunchies was launched on 25 February and sold out in under an hour, raising £1,000 for Vispa Emmanuel schools and providing sanitary products for 80 girls for a year. This success was bolstered by a vibrant social media presence and collaborations with influencers, reaching audiences of up to 180,000. Following the success of our first collection, we’ve continued our efforts to support female empowerment charities, including ‘Housing for Women’ and ‘Malala Fund’. Exciting projects lie ahead, such as selling our scrunchies at schools in Cambridge and partnering with Durham’s St. Aidan’s College netball team for their Majorca tour.

This study highlights the potential for focused undergraduate research projects to have real impact in addressing grand challenges beyond the University. After reading my dissertation, the related charity has asked me to continue conducting my research this summer in Kenya, looking more specifically at how it’s making a difference across various poverty alleviation and education initiatives.

As our time at Durham draws to a close, the Sasa Girlss team hope to build on what we’ve achieved so far. Look out for details @sasa.girlss on Instagram!

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Economics on the world stage: my experience at the Carroll Round Conference

BA Economics student Max Cowan relates his experience of the international Carroll Round Conference at Georgetown University.

An annual event, The Carroll Round Conference provides a unique forum for research and discussion among the world’s top undergraduates. The goal of the conference is to foster the exchange of ideas among leading undergraduate international economics and political economy students by encouraging and supporting the pursuit of scholarly innovation in the field. Having submitted my final dissertation before the Easter holidays, I was delighted to hear that the Carroll Round Committee had invited me to present my work to a select group of students from around the world. While in the midst of important final year exam preparation, the opportunity to travel to Washington, D.C. to present work

that I’d become truly invested in over the last six months was one I couldn’t turn down.

The Economics Department and the Business School were particularly helpful in setting up the trip, and within only a couple of weeks, I was set to take part in the Carroll Round. With postgraduate studies in economics and a potential future career as a professional economist in mind, the Carroll Round Conference provided an excellent environment for undergraduates to test their ideas in front of a scrutinising audience. As an undergraduate, opportunities to participate in formal conferences are limited, as this experience is generally reserved for postgraduates and academics. With a time constraint of 30 minutes, it seemed near impossible to condense a 12,000word dissertation into a few PowerPoint slides. To complicate matters further, I had very minimal experience presenting work with this degree of rigour. Unsure of what exactly to present to a crowd of passionate undergraduate students and professors, I chose to focus on a fundamental mechanism featured in the theoretical chapter of my dissertation. Briefly, this mechanism is one possible explanation for why an economy

may experience a ‘Sudden Stop’ crisis, resulting from a pecuniary externality causing ‘overborrowing’ – sparing the pages of longwinded derivations, binding and non-binding constraints, and Karush-Kuhn-Tucker conditions!

I found time in the evenings to rehearse and re-edit my presentation, with great support from my ever-helpful supervisor, Dr Sara Eugeni. Many of these hours were at the expense of my dear housemates, who patiently acted as my mock audience. With the preparation that I could muster, I flew to Dulles International Airport from Heathrow a week before our final term began.

The Carroll Round Conference started on Thursday evening with a brief introduction from the committee, followed by a meet and greet with the fellow participants. I was quickly talking to students from Oxford, Warwick, Boston College and Stanford University, who were all equally excited to present their work over the following days. Truth be told, much of the small talk consisted of the Premier League, and the likelihood of a Liverpool title win – I think everybody was aware of the forthcoming intensity of academic discussion. The conference proceedings took place over morning and afternoon sessions, each lasting several hours. Students presented their paper for 30-35 minutes to several professors and a crowd of students in lecture halls, which was followed by a nominated discussant providing their summation of the paper and posing a few questions. Afterwards, there were several minutes for questions from the audience.

I happened to be presenting in the first morning session. While I knew the content of my dissertation, I was nervous about presenting my work to such an audience. Nonetheless, I thoroughly enjoyed the challenge, and the entire presentation and discussion went well. I was also subject to a couple of questions, some more tricky than others, which provided me with some ideas for future work.

The Carroll Round Conference provided an excellent environment for undergraduates to test their ideas in front of a scrutinising audience.

During the course of the conference, I was exposed to an incredible degree of imagination and complexity, mainly in econometric topics, covering advanced concepts in Machine Learning and Time Series Analysis. I was quite inspired by the vast diversity in thesis titles, ranging from distributional effects of monetary policy in China to microeconomic theories of natural resource dependence on governance and corruption. The discussion, while passionate and even fiery, was incredibly fruitful and encouraging in showing what a mastery of economics can allow you to explore, given the range of topics exhibited.

With a time constraint of 30 minutes, it seemed impossible to condense a 12,000 -word dissertation into a few PowerPoint slides

The conference included several dinners and talks; one especially memorable talk was from Olivier Blanchard, who spoke about his long career as an academic economist. It was quite surreal having spent a great deal of time listening to Blanchard’s many speeches, podcasts and lectures, and reading (and often frustrating over) his Lectures on Macroeconomic – a macroeconomic theory textbook – and now meeting the man himself.

The Carroll Round Conference was a brilliant experience, one which I’ll remember as an inspiring insight into what a future career in academic economics could look like. While a hectic experience, with several days of intense academic discussions, I’ve no doubt benefited from it. I met a vast range of incredibly passionate students from around the world, who have enormous ambition in the field. I was particularly taken aback by the enthusiasm and imagination of some of the students, which shows what can be achieved by academic discourse in the field of economics.

I thank my department and the School for arranging travel from Durham to Washington, D.C., and to my supervisor Dr. Sara Eugeni for all of her support regarding my dissertation.

Scan or click the QR code for more information on the BA Economics programme.

Max with other presenters at the conference.

Economics is not all about working in banks...

Asmi Pillai is an MSc Economics student with a difference.

Originally from Mumbai, she studied Economics for her Bachelor’s degree. While at university in India, she explored extracurricular activities such as street theatre, classical dance and public speaking, finding she enjoyed them all. This interest led Asmi to be involved in a couple of television adverts.

Goal-focused, Asmi wanted to continue her Economics education at Masters level, and, being particularly interested in coding for analysis, she was drawn to the Durham programme.

Speaking about her choice of Durham for her Masters, Asmi said, “I did my research and found Durham’s YouTube videos which had good commentary. The coding element caught my attention along with the opportunity to do your dissertation abroad.”

The cities of Durham and Mumbai couldn’t be more different, with Asmi describing Mumbai as crowded and Durham as calm and secluded. However, the move comes with its challenges and benefits.

“I’m growing as a person. At home, I was sheltered and surrounded by my family. Being away from them, I’ve had to step up. Life isn’t handed to you, and I’ve learnt about myself on my journey so far,” says Asmi. “I’ve built a good rapport with faculty members and love the opportunities for social interaction. I’m enjoying the formal dinners and other opportunities such as the alumni event in London,” Asmi continued.

With incredible energy and focus, Asmi is looking to twin her two interests: economics and film.

At the London event, Asmi was introduced to Durham Economics graduate Jenny Shpeter, who validated her view that economics is not just about working in banks or governments and writing papers. Jenny runs her own media production company.

Shortly after accepting her place on the MSc Economics programme at Durham, Asmi received another great offer: a role in the movie, Velli. The film was shot in September and is now in post-production. Asmi discussed the movie opportunity with her professors at the Business School, and they were flexible enough to allow her to continue her studies while filming in India. She explains, “My professors emailed me the necessary information and I’d catch up with lectures online.”

With incredible energy and focus, Asmi is looking to twin her two interests: economics and film. While at the Business School, she will be collaborating on a video for her Economics programme, helping create one of the videos that originally helped her choose Durham.

Towards the end of her Masters, Asmi will also be taking the opportunity of doing her dissertation abroad. She intends to do this in Germany while at Mannheim University.

Scan or click for more information about the MSc Economics programme.

Scan or click to view Asmi talking about Economics at Durham.

Recognition round-up

We review the latest accreditations and ranking since the last issue. The School continues to be highly ranked in the international league tables, secures a further 5-year reaccreditation by AACSB and moves up a level in a key equality and diversity accreditation with Athena Swan.

AACSB re-accredited

The Business School has successfully secured a five-year extension to its accreditation for business education programmes, awarded by the Association to Advance Collegiate Schools of Business (AACSB). This achievement follows two further fiveyear extensions to the School’s accreditations awarded by EFMD Quality Improvement System (EQUIS) in 2022 and the Association of MBAs (AMBA) in 2023. These three prestigious accreditations, collectively known as the ‘triplecrown’, is held by only 1% of business schools globally, positioning Durham University Business School’s business education programmes among the best and most reputable in the world.

Professor Cathy Cassell, Executive Dean commented on the achievement, “The AACSB re-accreditation, when added to our existing AMBA and EQUIS accreditations, is testimony to our position as a leading international business school. These awards demonstrate the School’s excellence across our key strategic areas of research, education and student experience, and our commitment to continuous improvement. Holding such accreditations assures applicants worldwide we offer them a truly valuable and diverse educational experience.

“As we approach the School’s 60th anniversary in 2025, we are delighted to receive this distinguished and continuing recognition from AACSB, which serves to highlight our ongoing commitment to maintaining the highest standards of teaching and research.”

The AACSB re-accreditation demonstrates the School’s commitment to upholding, and advancing, the quality of its undergraduate and postgraduate education. The AACSB peer review team commended our “extensive support for faculty” and employment of “a range of mechanisms to ensure that all staff maintain currency and relevancy in their teaching and in their engagement with practice, regardless of their position and experience.”

University Vice-Chancellor and Warden Professor Karen O’Brien said, “Retaining triple AACSB re-accreditation further confirms the School’s long-standing reputation for quality in the global business education community. Of particular note is the commendation from the review panel on the way the School embeds inclusivity in operations, curriculum and extra-curricular activities.”

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Three prestigious accreditations held by only 1% of business schools globally

Gender equality efforts recognised with Athena Swan Silver Award

The School was delighted to be awarded the Athena Swan Silver Charter, a global framework promoting gender equality within higher education (HE) and research. It aims to advance women’s careers and address broader gender equality issues worldwide.

Advance HE, the organisation behind the Athena Swan framework, conferred the Business School with a Silver Award for its latest submission. The acknowledgement reflects the work the School has undertaken to improve policies and practice in relation to gender equality and builds upon our previous bronze award. The new award runs for five years, starting from April 2024.

The Athena Swan submission was led by Dr Li Ding, supported by Dr Farzana Chowdhury and a team of 27 colleagues and students. The review panel commended the School for its work to progress gender equality to date, including the development of structures and processes that underpin and recognise gender equality and that will be able to carry this work forward.

The panel feedback highlighted the focus given by the School and welcomed continued engagement, stating, “There is a clear endorsement from the Executive Dean, and the governance structure for Equality Diversity and Inclusion (EDI) is well-evidenced. The panel commend the approach taken to reviewing the EDI impact of policies and would be interested to hear in a future submission how the effectiveness of policies is reviewed once they are implemented.”

Professor Cathy Cassell commented on the success, saying, “I am delighted the School has been awarded silver Athena Swan accreditation. This is excellent news. A lot of work has gone into this achievement. I would particularly like to thank Li Ding who led the submission, ably assisted by Farzana Chowdhury. Martyna Sliwa also played an important role, as did all of the members of our Athena Swan Self-Assessment Team. Credit should also be given to all colleagues who work across the School on a daily basis to progress equality, diversity and inclusion. This really is a whole School achievement.”

Dr Li Ding added, “EDI holds significant importance for all organisations operating within society across the world. For a business school with a vision to enhance equity and developing the global business leaders of tomorrow, it is even more important we lead the way in this area.”

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MBA Online accolades

2024 has so far been a good year for our online MBA programme, with both The Financial Times and QS Rankings placing it highly and highlighting strong performance in some key areas.

The Financial Times Global Online MBA Ranking 2024 has ranked the Durham MBA (Online) as among the best in the world. The programme climbed two places to 6th globally.

Recognition of Excellence in UK, Europe, and worldwide

In addition to moving up to 6th place globally, The Financial Times ranking identifies our programme as the 3rd best programme in the UK, 4th in Europe and among the top 10 globally, alongside other prestigious institutions such as IE Business School, Imperial College Business School and Warwick Business School.

Acknowledgment of key metrics

Notably, The Durham MBA (Online) has ranked 2nd for Career Progress and Value for Money, and 3rd for efforts in Environmental, Social and Governance (ESG) and Net Zero Teaching. Professor Cathy Cassell highlights the importance of these factors for the future of business education, saying, “In today’s sustainabilitydriven landscape, our remarkable progress in Career, Value, and ESG principles underscores our dedication to shaping sustainable leaders. Sustainability isn’t just an aspect; it is the cornerstone of future business education.”

QS World Top 20 Ranking for Online MBA

In the QS World Rankings (Quacquarelli Symonds – Global Higher Education experts), the Durham MBA (Online) secured 19th position out of 102 considered programmes. The ranking further highlights the programme’s prominence in the European, Middle Eastern, and African (EMEA) regions, where it was placed 6th, further solidifying our standing as a leader in providing high-quality online MBA education within these regions.

Excellent faculty and teaching ratings

QS highlighted one of the key factors contributing to the programme’s success was its outstanding faculty and teaching rating, where Durham ranked 13th globally and 8th in Europe. Within the faculty and teaching ratings, the MBA scored highly in Faculty Student Ratio and Academic Reputation. Programme Director, Owain Smolovic-Jones commented, “We are particularly happy that we have been recognised for our academic

6th globally

2nd for Career Progress and Value for Money & 3rd for efforts in Environmental, Social and Governance (ESG) and Net Zero Teaching

strength and excellence in teaching. Durham’s Online MBA is becoming a fixture amongst the world’s best, with a distinctive offering anchored in our tradition of academic excellence and commitment to cutting-edge, flexible learning.”

Innovative and flexible

The Durham MBA (Online) programme has a long and distinguished history with its origins going back over 30 years. However, it has always looked to innovate and provide a flexible learning environment. Students can choose to study some modules with their full-time counterparts in Durham and its use of technology was profiled in an earlier Financial Times article.

Associate Dean for MBA programmes, Mike Anthonisz says, “We take pride in the design and development of the programme, ensuring that we focus on the needs of the market, the demands on our students and contemporary issues in the global business environment. Engagement with industry, a global awareness and social responsibility are fundamental to the programme goals, supported by a flexible programme design and the collegiality of each of our Online MBA cohorts and the wider business school. In an increasing competitive environment, the recognition of the time and effort that the team put into delivering the Durham Online MBA programme is extremely satisfying.”

Scan or click the QR code for more information about the Durham MBA (Online).

Durham MBA ranks in Global Top 100 and 16th for career progression

The Financial Times ranks the Durham MBA (Full-time) as 78th in the world in its Global MBA Ranking 2024.

This is an outstanding achievement in a competitive marketplace with over 2,000 MBA programmes offered worldwide. The

Career Progression variable, calculated according to changes in the level of seniority and the size of the organisation alumni now work in, compared with before their MBA.

Professor Cathy Cassell said “The FT’s Global Ranking again recognises Durham’s world-class MBA programme. The MBA has consistently ranked in the Top 100 and this reflects the esteem with which it is held by candidates and employers right across the world. Our MBA matches people’s expectations from a global business school and a world Top 100 university.”

In addition to the global 78th, the ranking shows that the School’s full-time MBA is positioned 8th in the UK and 26th at a European level. It also showed that the Durham MBA provides students with an excellent return on their investment.

Michael Anthonisz, Associate Dean for MBA Programmes, said “The School works hard with current students, alumni and industry connections, including our advisory boards, to ensure our programme delivers what future business leaders need in terms of knowledge and skills.”

The Durham MBA transforms careers, enhancing key business and leadership capabilities.

Scan or click the QR code for more information about the Durham MBA (Full-time) and its three pathways of Entrepreneurship, Consultancy and Technology.

QS World University Rankings by Subject 2024

The School’s Accounting and Finance subject area has been ranked equal 84th in the prestigious QS World University Rankings by Subject 2024

The rankings, announced in March 2024, assessed over 18,300 subjects from 1,597 institutions across the world, based on academic and employer reputation, citations per academic paper, impact and quality of research and

Transforming healthcare: the appointment of Dr Helen Meese as Royal Society Entrepreneur in Residence adds to the School and University’s strengths

In January 2024, the Business School and Durham Energy Institute were delighted to welcome our new joint Royal Society Entrepreneur in Residence, Dr Helen Meese. Her appointment has been made through The Royal Society Entrepreneur in Residence (EiR) scheme as part of its Science, Industry and Translation programme, which aims to increase the knowledge and awareness in UK universities of cutting-edge industrial science, research and innovation.

Dr Meese is an award-winning mechanical engineer with extensive experience in medical technology and healthcare innovation. Her career spans both industry and academia, including roles as Head of Engineering in Society and Head of Healthcare at the Institution of Mechanical Engineers (IMEchE). Helen also runs her own successful engineering consultancy, The Care Machine. She’s been instrumental in the creation of several public policy pieces, her most recent of which focuses on Sustainability within the NHS, published in March 2024.

Her time with Durham University over the next two years will focus on an ambitious and aspirational agenda, using researchinformed, evidence-based innovation and collaboration to transform healthcare in the North-East for clinicians, technicians and end users. The themes of her work include:

1. Sustainability and resilience of technology – bringing awareness of how people impact health and healthcare across the globe and the subsequent impact upon business models and supply chains.

2. The need for frugal design – ensuring that designs are accessible, inclusive and equitable for all.

3. Thinking beyond engineering – using systems approaches to work with those outside of the STEM community to ensure greater communication of ideas.

4. Creating entrepreneurial mindsets – giving everyone a voice to bring ideas to life.

Dr Meese’s work is informed and enhanced by a wide variety of other transformative activities across the University. Across her tenure, she’ll work closely with colleagues from a wide variety of Departments, Schools and Faculties to draw these together, creating a system-wide approach which supports and informs the NHS locally and nationally. A critical partner in this work is the County Durham and Darlington NHS Foundation Trust (CDDFT), where Dr Meese is already engaged in Task and Finish group work to assess the recommendations of the IMEchE policy and identify opportunities for collaboration.

Additional appointments strengthen transformation support

We’ve also appointed a new Pro-Vice Chancellor for Health – Professor Charlotte Clarke steps up in August 2024. A number of initiatives are front of mind for her as she assumes this new role. As well as joining Dr Meese in deepening the University partnership with CDDFT, she’ll be supporting our position as partner in the National Institute for Healthcare Research (NIHR) School for Public Health Research (SPHR) and as a key contributor to ‘Child of the North’ through the Health Innovation Network. Professor Barbara Bechter of the Business School is Acting Co-Director of the Wolfson Institute, and her own work is on the NHS workforce.

Dr Meese is an award-winning mechanical engineer with extensive experience in medical technology and healthcare innovation.

Public health initiatives are a key focus of

NHS.

Through the University’s Research and Innovation Services colleagues, there’s a significant amount of collateral work being done. Durham University collaborates extensively with the NHS in a multitude of ways, leveraging research partnerships, interdisciplinary research and strategic partnerships to drive healthcare innovation and address pressing healthcare challenges. Through established links with NHS trusts and healthcare providers, the University contributes to healthcare innovation by conducting cutting-edge research in areas such as diagnostics development, digital health and AI/machine learning in health.

NHS collaboration

Public health initiatives are a key focus of our collaboration with the NHS, with interdisciplinary research projects aimed at addressing health inequalities, promoting health literacy and improving population health outcomes. These initiatives often involve policy and governance considerations, as researchers work closely with policymakers and healthcare leaders to translate research findings into actionable policies and strategies. Additionally, Durham University actively engages in knowledge exchange activities and continuous professional development (CPD) programmes to support clinical engagement and empower healthcare professionals with the latest advancements in healthcare delivery and technology. Biostatistics support for clinical trials ensures rigorous study design and data analysis, while service evaluation and impact projects, facilitated by initiatives like Impact Acceleration Accounts (IAA), drive innovation and measure the effectiveness of healthcare interventions. Our expertise in health data science, big data analysis, and data modelling further strengthens our collaboration with the NHS, enabling researchers to harness the power of health data for predictive analytics, precision medicine and population health management. Through these collaborative efforts, Durham University and the NHS are driving transformative change in healthcare delivery, improving patient outcomes and shaping the future of healthcare in the region and beyond.

For more information, please email joanna.berry@durham.ac.uk

our collaboration with the

Left: Professor Barbara Bechter, acting CoDirector of the Wolfson Institute. Right: Professor Charlotte Clarke, ProVice Chancellor for Health.

DBA Conference: Research with Impact in Times of Turbulence

The 2024 Durham University DBA Conference, titled ‘Research with Impact in Times of Turbulence’, took place on Friday 7 June 2024. Chaired by Professor Kostas Nikolopoulos, the 2nd Annual DBA Conference aimed to address the myriad challenges contemporary society faces through impactful research and innovation.

Hosted in a hybrid format – both face-to-face and online – the conference successfully brought together scholars, industry leaders and alumni to discuss how research can navigate and mitigate the complexities of our rapidly changing world.

The Opening Ceremony, chaired by Associate Dean Professor Karena Yan, featured welcoming addresses from Executive Dean Professor Cathy Cassell, Vice Chancellor Professor Karen O’Brien, Deputy Executive Dean (Research) Professor Olga Epitropaki, Professor Kostas Nikolopoulos and other distinguished professors. The event saw over 80 participants, 27 paper presentations and three best-paper awards, one from each DBA programme. The winners of the best conference paper awards were Claudia RamirezMontoya (Durham DBA), Sola Adesina (Durhamemlyon Global DBA) and Rola Luo (Fudan DBA).

The morning keynote was delivered by Professor Richard Scothon from County Durham and Darlington NHS Trust, who spoke on ‘National Health Service Leadership: Complex Systems and Innovation in Light of Challenging and Changing Times’. His insightful talk set the tone for the day’s discussions, focusing on the critical role of leadership in navigating complex systems and driving innovation.

The parallel sessions were a highlight of the day, featuring a variety of topics and chaired by esteemed faculty members. Professor Peter Hamilton chaired sessions with presentations by Global DBA students Trista Bridges and Sola Adesina, Durham DBA student Louis Neofytou, and Rola Luo from the Durham DBA at Fudan. George Karamatzanis led sessions featuring Global’s Eugene De-Villiers, Chen Liu, Hamad Al-Thani and Ray Thareiz, with Durham DBA contributions from Jingwei Du (Steve), Anu Harder and Carlos Pullen-Ferreira.

Over 80 participants 27 paper presentations 3 best-paper awards

Shujun Xiao chaired presentations by Global DBA candidates Ashish Kakar, Sam Pang, Zulfiqar Aslam, Uday Bose (see article on page 34) Chris Eluwa and Farah Wally, along with Fudan student Hong Dong Wen and Durham students Rong Hao and Eid Albogami. Dr Cat Spellman facilitated discussions with Claudia Ramirez-Montoya (Durham DBA). Finally, Sola Adesina oversaw sessions by Durham DBA candidates Asrif Che-Yusoff and Thuta Aung. In the afternoon, Professor Bruce Malamud from Durham’s Institute of Hazard, Risk and Resilience delivered a keynote on ‘Multi-Hazard Cascades Dynamic Risk and Resilience in a Turbulent World’, further exploring the dynamic nature of risks and the importance of resilience. The conference concluded with a panel discussion featuring Professor Jorge Lengler, Professor Jamie Callahan, Dr Ahmed Shawky (Global DBA Alumni) and Professor Julie Hodges. The closing session and awards were presented by Dr Robert MacFarlane OBE, Professor Kostas Nikolopoulos and Hannah Barnes.

The 2024 DBA Conference successfully highlighted the University’s commitment to fostering impactful research and innovation in times of turbulence. The event not only provided a platform for sharing knowledge and experiences but also strengthened the network among participants, paving the way for future collaborations and advancements in the field.

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Conference delegates outside of the School’s Mill Hill Lane building.

ESRC-funded project to establish a community co-created distributed manufacturing platform

Professor Atanu Chaudhuri, along with colleagues from Loughborough University, Teesside University and the University of Derby, is involved in an Economic and Social Research Council (ESRC) INTERACT-funded research project entitled ‘Community Co-created Distributed Manufacturing Platform’. The project brings together a range of stakeholders such as local manufacturing businesses, digital technology service providers, further education institutions, local enterprise partnerships and community members through a common platform. The objective is to support the digitalisation efforts of manufacturers, provide skill enhancement opportunities to the local community and encourage the community towards a career in digital manufacturing.

The longer-term aim is to create a network of digitally enabled communitybased hubs.

The research team has already conducted a survey with support from East Midlands Chamber of Commerce, conducted multiple interviews with stakeholders, and organised workshops supported by the Engineering and Manufacturing Network, Parmley Graham, Nissan Sunderland and Gary Thompson at Jag Design. This has led to an understanding of the needs of the different stakeholders and the team is currently developing the design of the co-created platform. The longer-term aim is to create a network of digitally enabled communitybased hubs, where local needs for products, training, skills and job opportunities can be met. This will lead to a blueprint for a co-created, distributed, community-based manufacturing platform in the UK, with a business model to support its financial viability and scalability.

The 14th ILERA European Congress: Navigating challenging times in employment relations and the world of work

Professors Barbara Bechter and Bernd Brandl are pleased to announce that the Business School will host the 14th International Labor and Employment Relations Association (ILERA) European Congress, on 10–12 September 2025. The ILERA is a body of the International Labor Organisation (ILO) and plays a crucial role in promoting the study of labour and employment relations worldwide in the relevant academic disciplines (political science, sociology, economics, management and human resource management, labour law). This internationally recognised congress will bring together leading experts from academia, industry, the ILO, trade unions, Eurofound and policymakers to discuss employment challenges and strategies to overcome them.

Professor Bechter commented, “We live in a state of uncertainty and multiple crises. The congress will include panel discussions, keynote talks and breakout sessions covering a wide range of topics that address difficulties caused by political uncertainty, Brexit, COVID-19, migration and emerging technologies.” Save the dates. The call for submissions to the 14th ILERA European Congress will be issued in December 2024, with the conference running from Wednesday 10 to Friday 12 September 2025.

Enquiries about the event can be sent to ilera2025@durham.ac.uk

New for 2025: Executive MSc in Supply Chain Management

We’ve launched a new Executive MSc in Supply Chain Management programme, designed to equip participants with the skills to face unprecedented challenges in the supply chain sector, such as increased disruptions and growing pressures to become economically, environmentally and socially sustainable.

Blended learning programme structure

Starting in September 2025, the Executive MSc in Supply Chain Management offers a blend of on-campus and online learning spread over a two-year period. This dynamic format is designed to accommodate the diverse needs and schedules of working professionals, providing flexibility without compromising on the quality of education.

Addressing contemporary challenges

The new programme will enable learners to advance their existing careers in supply chain, or take up new roles in operations, digital transformation and consultancy.

Programme Director and Professor in Technology & Operations Management, Atanu Chaudhuri explains the need for the new programme, “In today’s world, any product is produced with the involvement of a large number of organisations, but these global supply networks are increasingly under stress due to multiple risks and disasters – both natural and man-made.

“At the same time, realisation of the need to create environmental, social and economically sustainable supply chains coupled with advancements in digital technologies means that supply networks are on the cusp of significant changes. Future supply chain leaders will need to use appropriate technologies and analytics to make real-time decisions and design and manage end-to-end supply networks which are sustainable and resilient.”

Meeting industry demands

Participants will benefit from specialised modules developed to consider the needs of modern businesses operating in a volatile and uncertain environment. Teaching will focus not only on functional supply chain skills, but also on communication, interpersonal and negotiation skills, combined with analytics and data science as well as an overall strategic understanding of business.

Future supply chain leaders will need to use appropriate technologies and analytics to make real-time decisions.

This innovative programme is a key addition to our growing ‘Exec Ed’ portfolio. Sue Boyd, Head of Executive Education at the School commented, “When parts don’t reach their destination in time, this impacts the entire business. We have created this new parttime Masters programme to meet the growing demand from businesses to equip their supply chain teams with the strategies and skills needed to navigate these increasingly complex challenges.”

Practical application and collaborative learning

Learners will also complete a strategic supply chain project based on practical problems with real companies, as well as benefiting from the Business School’s partnership with the University of Mannheim, enriching the learning experience through diverse perspectives and expertise.

As businesses continue to navigate an increasingly interconnected and unpredictable global marketplace, initiatives like the Executive MSc in Supply Chain Management are poised to shape the next generation of supply chain leaders, equipped to drive innovation, resilience and sustainability in supply networks worldwide.

Scan or click the QR code for more information on the Executive MSc in Supply Chain Management.

The first cohort from the Senior Leader Apprenticeship graduates

Everyone at the Business School was delighted to celebrate the graduation of the first group of apprentices from the Senior Leader Apprenticeship (SLA) programme in June.

Drawn from employers including Cummins, Hargreaves, LNER and Sage, the apprentices were awarded the Postgraduate Certificate in Senior Leadership Development from Durham University, in addition to the apprenticeship.

Developed in collaboration with business, the programme has been specifically designed for highly motivated middle to senior managers to become innovative and responsible leaders. Delivered part-time over 13 months, the programme provides the opportunity to combine work with study. It draws on the expertise from top Business School faculty, complemented by one-to-one mentoring that supports learning and opens up opportunities to apply and develop strategic skills in the workplace.

Apprentices advance their learning across a coherent suite of key disciplines including Leadership, Strategy, Operations, Finance, Marketing, Ethics and Sustainability.

The academic award for the highest academic achievement on this first cohort was presented to Victoria Sykes-Kondic, Finance Services Manager at London North Eastern Railway (LNER).

Victoria said:

“I chose Durham University because of its fantastic worldwide reputation and the experience has been brilliant. The mode of study meant that I found a good balance between studying, work and my family life. There’s a lot to do and a lot to learn but as the course is based on your organisation, I found that it was complementary to my work rather than just another item on my ‘to do’ list! I have now moved on to the Durham Online MBA and am growing my network even further. I would highly recommend the course to anyone wishing to broaden their business knowledge and progress in their career.”

Programme Director, Professor Ian Whitfield added:

I chose Durham University because of its fantastic worldwide reputation and the experience has been

“The philosophy of the programme is founded on upskilling a workforce largely drawn from the North-East of England but also with some apprentices joining Durham from farther afield. This is of enormous value to the apprentices themselves and also to a diverse range of small, medium and large-scale enterprises. Interactive classroom learning is complemented by practical application, including valuable input from guest speakers with expertise in relevant areas of business. Furthermore, the programme offers apprentices the opportunity to continue their higher education journey beyond the SLA by topping up to the Durham Online MBA.”

The SLA provides an ideal opportunity for companies and organisations to use their apprenticeship levy to upskill their employees. Since launching in 2022, the programme has welcomed four cohorts and is capturing the attention of an increasingly diverse range of employers including Atom Bank, BrewDog, Coltraco, Faltec, Johnson Matthey, Mitsubishi, Northumbria Water, Schneider Electric, Unipres and Visual Soft.

For more information about the Senior Leader Apprenticeship, please speak to our Executive Education team at exec.ed@durham.ac.uk

Above: Cohort 1 of the Senior Leader Apprenticeship (taken in induction day at the start of their programme)

brilliant.

Below: Victoria Sykes-Kondic with her highest academic achievement award and Professor Ian Whitfield.

Durham Delhi alumni gathering and the Alumni Global Impact Award

On 2 May, a group of 22 alumni joined Professor Jorge Lengler (Professor in Management and Associate Dean for Internationalisation) and the Durham University Delhi Alumni Chapter Leader, Sahil Kumar (MBA, University College, 2020) for a networking event in Delhi. At the event, Sahil was presented with the Alumni Global Impact Award. The evening took place at the PSOI Club Restaurant in Chanakyapuri, where a full buffet and drinks were served for all guests.

After the event, Professor Jorge Lengler commented, “It was a pleasure to meet our alumni community at this fantastic event and hear your memories of Durham. I am delighted to congratulate Sahil Kumar, our Full-Time MBA alumnus and Delhi Chapter Leader, for receiving the Alumni Global Impact Award and I was delighted to present it to him at the event.”

Over 500 alumni attended 50 events across 29 countries

Sahil shared that, “The event went great, and we had a wonderful turnout of alumni. I was happy to see several new faces as the chapter membership continues its spectacular expansion. We had amazing conversations on the night. Thanks for sending over the Alumni Global Impact Award. It was so beautiful to receive it in person from Jorge. And thanks to you and the entire Alumni Team at Durham for supporting and guiding our events.” One guest further added that, “This was very well done, it was an absolute pleasure to meet fellow alumni.”

The event was hosted by the Delhi Alumni Chapter and Durham University Business School, and was the latest of a series of successful events that have revitalised Durham’s alumni networks in India since 2021. When pandemic restrictions ended in 2022, Durham’s presence in India had been greatly reduced and local chapters had to be built from scratch. The turning point happened when Sahil was recruited as a volunteer at the first alumni event in India since 2019.

Under his leadership and in close collaboration with the University’s Development and Alumni Relations Office and the Business School’s Alumni Team, the Chapter has prospered. Sahil has organised several well-attended events, including a Dunelm Day in November 2023. Durham alumni commemorate Dunelm Days by attending events in their local area as a way of celebrating all things Durham and recognising the importance of University connections. In 2023, over 500 alumni attended 50 events across 29 countries.

Professor Jorge Lengler and the Delhi Alumni Chapter.

Alumni Chapters

Local Alumni Chapters and events are key to our international presence. They keep alive the emotional bonds with the institution, facilitate networking, and help new graduates integrate in the social and business community of their city. Chapters regularly provide volunteers for recruiting fairs, and many a member has contributed to the Business School’s life through guest speaking and mentoring. The University has Chapters in most of the main cities and business hubs around the world, with Business School graduates historically greatly contributing to their leadership.

The Alumni Chapters couldn’t run without our devoted volunteers, who generously give time to organise events and share their knowledge. Volunteers use their networks and local knowledge to find the best venues, and shape events in a way that makes them most attractive and accessible to our communities. Despite his busy schedule as Assistant Manager at Grant Thornton Bharat LLP, Sahil has organised several events and regularly advises the Alumni Team on our activities in Delhi. Additionally, he has helped us map the best locations for additional Chapters in India, according to importance of city, geographical convenience and concentration of alumni. That work is providing the backbone to our rebuilding of the Indian alumni network. Finally, Sahil has been greatly supporting the Business School as an MBA Mentor, and by writing about his Durham MBA student story for publications in India.

Professor Jorge Lengler, Associate Dean for Internationalisation presents Chapter Leader, Sahil Kumar with his Alumni Global Impact Award.

The award recognises the global impact and ongoing support and dedication Sahil has shown to the University and our community.

Achievement recognised

Following a nomination by Matteo Lai (Alumni Relations Coordinator at the School) and a very competitive selection process, Sahil this year won the Alumni Global Impact Award. Durham University gives this award to an alumni community member who’s demonstrated an outstanding commitment to the development of international collaboration and understanding, and has made an outstanding contribution to strengthening Durham’s global work. The award recognises the global impact and ongoing support and dedication Sahil has shown to the University and our community. His work in developing strong and lasting relationships within the local community will not only help to strengthen the bond with Durham, but will also enrich individual relationships within the local community.

The evening of 2 May was a resounding success worth celebrating, yet it was only the latest such event in Delhi, and only one of many similar gatherings occurring all over the world across the year. We’re grateful to our existing volunteers, and always look forward to expanding our networks while recognising the exceptional contributions of our existing leaders like Sahil. If you’d like to help Durham’s alumni presence in your area, please get in touch with our Alumni Team.

Scan or click the QR code for more information on alumni activity.

World-class executive education from a triple-accredited Business School

We offer a range of programmes suitable for today’s global executives delivered online/hybrid and part-time.

Durham Leadership Programme

The School’s tailored leadership programme has its academic structure based on modules drawn from our Online MBA and EMBA programmes. The detailed content is developed as a result of close partnerships between Durham’s academics and client companies.

Online MBA

The Durham Online MBA is well-established and consistently highly ranked. Study either entirely online over 24 months or opt to attend modules delivered at the Business School in a UNESCO world heritage city.

Doctorate in Business Administration (DBA)

We offer a range of part-time executive doctoral programmes that allow senior executives to pursue a business research interest at the highest level. Choose either the single DBA from Durham or the dual award Global DBA delivered with emlyon business school, France.

The Durham-EBS Executive MBA

In partnership with EBS Universität we offer a globally recognised EMBA. You will gain practical knowledge at an international level through a recognised management programme delivered parttime over 18 months in both the UK and Germany.

Scan or click the QR code to find out more