Pulse Issue 5 by Liverpool Hope University

PULSE News and opinion from Liverpool Hope Business School April 2019 | Issue 5

SIMULATING BUSINESS Workshop introduces students to the world of stocks and shares.

MIXOLOGY MASTERCLASS

BACK TO NATURE AT PLAS CAERDEON

INTRODUCING JAMES KIRKBRIDE

Students learn business skills at The Alchemist

First years bond at outdoor education centre

Visiting Professor in the Business School

News and opinion from Liverpool Hope Business School April 2019 | Issue 5

WELCOME TO PULSE Having joined Liverpool Hope towards the end of 2018, it’s my great pleasure to see the Business School once again recognised as one of the best in the UK. In this issue of Pulse, you can read more on why The Higher Education Review believes our institution is one of the UK’s Top 10 Promising Business Schools. We also hear first-hand accounts from our students who have been busy taking their learning outside the classroom. On pages 4 and 5, first year students talk about their experiences at our outdoor education centre Plas Caerdeon, while on page 8 a mixology masterclass provided a unique insight into the world of business. We also hear from Professional Tutor Tony Bradley on what the continuing Brexit saga means for the country’s businesses. I look forward to meeting with many of you and being a part of future Business School successes.

NEWS IN BRIEF

Leaders Awards winners shortlisted Judges have been considering who they believe deserves the title of an inspirational leader, ahead of the second Liverpool Hope and The Leaders Club Awards. Across the six nomination categories – the Arts, Common Good, Enterprise, Health and Social Care, Education and the Uniformed Services – a shortlist of candidates has been whittled down. A special awards dinner will be held at the Creative Campus to honour the winners on Thursday 16th May.

Duke of Edinburgh

Associate Professor Dr Rebecca Chandy Deputy Head of the Business School

IN THIS ISSUE 3

Hope named Top 10 UK Business School

Mixology masterclass at The Alchemist

Students bond at Plas Caerdeon

Brexit and business

Business simulation tests student skills

Introducing James Kirkbride

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The University is now certified as an awarding body for The Duke of Edinburgh’s (DofE) Gold Award – and all first year students are able to sign up to complete the award while at Hope. Over 100 top UK employers recognise a DofE Award as a mark of a young person’s soft skills competence. The programme ties in with the University’s Service and Leadership Award (SALA), and the expedition portion of the programme will be based at our outdoor education centre - Plas Caerdeon.

SPOTLIGHT

Business School named among UK’s top 10

Liverpool Hope University Business School was highlighted as one of the UK’s top institutions in a special edition of The Higher Education Review. The magazine featured the Top 10 Promising Business Schools in the UK – 2018, which were chosen after thorough research by an expert panel.

The feature aims to explore the ‘untold story’ of Liverpool Hope University, and bring the institutions in the magazine in to the limelight, so “their ideologies and methodologies can inspire other institutions around the globe”.

“UK business schools offer exciting careers in large corporations to small businesses.”

Describing the Business School, the magazine stated: “Primarily a research-informed teaching institution, the University’s business school has a high number of PhD holders in its academic team who are engaged in research that connects with the business sector.”

Designed to provide students with information that will help them make accurate decisions about their study locations, The Higher Education Review special stated: “The UK has always been one of the dream higher education destinations for Indians… UK business schools offer exciting careers in large corporations to small businesses.”

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FEATURE

Students get back to nature in Plas Caerdeon

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FEATURE

A trip to Plas Caerdeon outdoor education centre helped first year students to bond. The great outdoors of Northern Wales provided the perfect back drop for first year Business School students to get to know one another.

“Around 70 students visited Plas Caerdeon, and all of them said they really enjoyed it and would recommend the experience.”

“The trip aimed to develop leadership and team working skills, and – of course – be fun.”

Just weeks after joining Liverpool Hope, the new starters were whisked away to the University’s outdoor education centre Plas Caerdeon.

However, it was not just their brains that were put to the test. Students were also invited to explore the natural wonder right on their doorstep, with many taking to the estuary to try their hand at canoeing, rock climbing, a rope assault course and zip lining.

Based in 18 acres of private, secluded woodlands in Snowdonia National Park, the Centre is located in a beautiful setting overlooking the Mawddach Estuary. Plas Caerdeon provides the base for Liverpool Hope’s residential outdoor activity courses and in this instance was the setting for several days of bonding. Students were treated to a range of activities that are designed to encourage teambuilding skills, and group working. As part of their studies, students at Liverpool Hope may be given the opportunity to visit Plas Caerdeon for field trips, environment and biological research excursions or art workshops. The Centre also provides team building courses and outdoor activities for a range of disciplines.

Senior Professional Tutor in Accountancy & Finance Jo Whittingham, who joined the first years on the trip, said: “We wanted to galvanise the group, to give them a stronger sense of community and encourage them to support each other. The trip also aimed to develop leadership and team working skills, and – of course – be fun. PULSE Magazine | 5

HIGHLIGHTS

Simulating business First year students took part in a business simulation event designed to immerse them in the reality of the working world. Just three weeks into the start of their first year at Liverpool Hope, Marketing and Business Management students had their business skills put to the test at a special simulation event. The session is designed to give students a real-world taste of creating and managing a business. Complete with a stock market that shows how their organisation is performing. Participants were tasked with creating a Sports Goods company, stating the price for their goods and deciding which markets to feature them in. An algorithm then assesses how they are fairing based on their decisions. Senior Professional Tutor Mr Ian McKenna said: “The simulation event challenges students to think about business issues and whether they have the right skills to succeed. “It’s an experiential learning model, where students are taught that decisions have consequences for important partners, such as shareholders.” Jade Taylor, who is a mature student studying Business Management, described the experience as brilliant 6 | PULSE Magazine

and not what she was expecting. She said: “It’s been really captivating and engaging. I’ve really enjoyed the competitive nature of the session, when they post the scores at the end of the rounds and everyone is seeing how they’ve done, you can really feel the atmosphere and how everyone is having a good time. “It definitely throws you into working intensely with a team of people you’ve never worked with before, you’ve got to come together and plan, and it teaches you how to communicate, share ideas, do research and analyse with other people.” Nathan Burrows, who is studying Accounting & Finance and Business Management, added: “I primarily study Accounting, so found it really interesting to learn about the Marketing side, and how other departments in a business would work. “Learning everyday things, such as how much stock to buy, how to manage it and how not to fall short or over spend has been eye-opening. The basic skills on how to run a business are something I’ll take away from this event and are sure to be useful in the future.”

HIGHLIGHTS

The sweet taste of tranquillity Hope’s Young Enterprise teams Sweet Sips and Tranquillity made it to the North West Regional Finals 2019.

The room was full of life and laughter. The buzz of new, young business leaders and teams setting-up stands, checking-out the opposition and seeking to impress judges radiated enthusiasm and creativity. It was the Young Enterprise North West Regional Finals, this year at Blackburn College. Two Liverpool Hope teams successfully made it through to the Regionals, selected by an impressive team of judges, drawn from businesses across the Liverpool City Region. All students on our Business Management second year pathway are part of Young Enterprise each year. They are assigned teams on a random basis and while some teams struggle to get off the ground, others gel and end up going far. Every group learns what it means to engage in business development – from the first idea, through to product creation. At last year’s Regionals, one of our teams went through to the National Finals and won an award for best ‘marketing performance’. This year we had two equally strong business teams. Sweet Sips is manufacturing sugar-based, flavoured drinking straws, to replace the plastic straws that are soon to become illegal in the UK, and have had interest in the product from Hospitality Group J D Wetherspoons.

Meanwhile, Tranquillity is a business with a mission; to spread the message of mental health awareness to young people and their networks. They have created their own merchandising, teamed-up with some of the region’s leading mental health organisations and are already demonstrating their impact in the Merseyside area. Business is never peaceful. But, Tranquillity are bringing business-thinking to the building of inner peace. This year, Sweet Sips made it through to the final of the Regional awards, while Tranquillity just missed out. Both teams returned from the competition feeling confident in their products and business acumen. As one of the Tranquillity team members said: “Tomorrow morning we just start again. We dust ourselves off and we take the next step in our business journey. We know how good we are and what we can achieve. And, that’s what we’ll do.” This is the message of Young Enterprise, and of course, the same is true in any business – resilience, determination, assurance. These are winning characteristics and both of our Hope teams have these qualities in abundance. Watch this space. Sweet Sips and Tranquillity – businesses for today, growing for the future. You heard them mentioned here, first!

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HIGHLIGHTS

Cocktails provide mixology masterclass in business

A cocktail masterclass may seem like an unusual choice for a Business Management lesson, but for one group of students it provided the opportunity to witness a successful business model in action. Students on the Business Management Foundation Year course took learning outside of the classroom and into Liverpool city centre on a unique study session. Bar and restaurant chain The Alchemist provided a hands-on workshop showcasing the company’s business model.

She said: “The session was really engaging and interactive, which made a nice change from being in the classroom. I definitely think this type of learning is a good way to enhance your understanding. I never expected to be making cocktails and have the opportunity to ask business managers questions in this type of environment.”

Paula Raper, Professional Tutor in Human Resource Management, said: “It’s really useful for students to see how a business understands market segments and responds accordingly. By bringing the students out of the classroom environment, it provides an opportunity to see how what they are being taught is applied in a real-life scenario.”

In a competitive marketplace, the bar and restaurant chain has adapted to provide a more innovative customer experience. Ms Raper explained how millennials now look for an “experience” alongside their food and drink, which The Alchemist has recognised by offering cocktail masterclasses.

To highlight the theory through practice, the students were shown how to create some of The Alchemist’s signature cocktails and why this offering is important to clients.

Luke Almond, General Manager of The Alchemist Liverpool, explained how young people are “what the business is built on”, and so teaming up with Liverpool Hope was an obvious choice.

Tegan Grugel, one of the students who attended the class, explained how the opportunity provided a great chance to speak with industry experts.

He said: “This is the first time we’ve partnered with a university, and it’s been great to share insights and inspire the students where possible.”

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EXPERT COMMENT

Can businesses ride the storm of Brexit? Professional Tutor in Business Management Tony Bradley explains why the instability caused by Brexit is amongst the biggest threat to industry. What business needs is stability. It has been said a thousand times in recent months. Prime Minister Theresa May re-launched her Plan B for leaving the European Union, to Parliament, as a barely amended version of her Plan A. And in the interim, between the two launches, we not only heard from industry leaders, we saw some critical events. In the moments after the Government’s crushing defeat on the PM’s Brexit Bill, by 230 votes, the voices of business were unanimously calamity filled. Stephen Martin, Director General of the Institute of Directors, said: “It is a collective failure of our political leaders that, with only a few weeks to go, we are staring down the barrel of no deal.” Likewise, Carolyn Fairbairn, Director General of the Confederation of British Industry, said: “Every business will feel no deal is hurtling closer. A new plan is needed immediately.” But, actions speak louder than words. Since then, Jaguar Land Rover has announced a cut of 4,500 posts in their UK workforce and the offshoring of much of their production to Asia. Similarly, Dyson has made the decision to re-locate its HQ from Somerset to Singapore.

Then, a plan by Tesco has emerged to, potentially, axe 9,000 jobs. And, in each case, the company has said this had nothing to do with Brexit. So, if this is the response of UK industry before the turmoil of Brexit strikes, what is to come? It isn’t only business but the nation’s workers that require stability. After May’s launches, we are certainly in uncharted waters, with the storm lashing the mainsail and the masthead about to break. The reality, of course, is that all businesses will have considered their contingencies. The problem is that for small businesses, in particular, they rise and fall with the tide. They don’t have the power or the scale to ride out a storm surge. And this looks like a tsunami, albeit one that we had ample warning about and that is home-grown, even of our own making. Yet, another thing is certain, in this turmoil, our business politics has changed inexorably. It is the turn of communities, resilient social economies and cities with a strong sense of their own identity and commitment to local solidarity, which will fare best, by pulling together. There is absolutely no reason why Liverpool shouldn’t be at the head of that movement. In that spirit Liverpool business can ride out the storm. And, we must! PULSE Magazine | 9

IN PROFILE

INTRODUCING Visiting Professor in the Business School Professor James Kirkbride spoke to Pulse about how his educational philosophy has shaped his career. How important do you think it is to balance educational theory with business in practice? Over my many years in education, professional practice and research, a central theme has captured my commitment and sense of my engagement with knowledge and practice – the Agora. The Agora was a central public place in ancient Greek city-states, where discourse was influenced by spiritual and political beliefs to shape, and create knowledge and practice. It has always been my belief that the ‘space’ between universities and the outside world of practice, beliefs, global perspectives, is the Agora where knowledge is created, understood and serves - for good and bad. It has been my commitment to engaging with and contributing to that ‘market-place’ on a globally local basis that has influenced my career choices. Hence, in addition to senior leadership posts within UK universities, my career is peppered with external body engagements bringing together local, global and industry bodies; often seeking to create or cause change. Throughout my appointments the ‘academic researcher’ within me was never far away.

What appealed to you about joining the Business School team? My attraction to Liverpool Hope brings together a number of personal and philosophical influences. Needless to say, Liverpool is the city of my birth, and

Biography Professor James Kirkbride is Professor of International Business Law. He was the founding Dean of the Faculty of Business and Law at Liverpool John Moores University, and university head of international and enterprise strategies for eight years. Previously, he was Head of the Centre for Board Development in Leeds, and Director of the Law School and Assistant Dean in the Business Faculty at Leeds Metropolitan University. Professor Kirkbride was also previously Head of Manchester Metropolitan

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my early involvement in the Common Purpose City Leaders insights, and my involvement on College Governing boards in the City have confirmed my views on the special energy and creativity of the City and its environments, which need to be both sustained and developed by its universities. At Liverpool Hope, my dialogue with both staff and students, brings home the role of the Agora – through a clear commitment at Hope to both open its doors to bring the knowledge and practice and thoughts of the Agora into the classroom, and the commitment to step into that space and recognise that knowledge can be created outside of the University. It is an exciting and infectious ‘mix’ for all that are committed to advancing knowledge and practice.

In today’s business climate, are there any areas in particular where you think students need to focus to ensure they are prepared for the world of work? To me, it’s not about ‘hard’ skills, but about integrity in a commitment to and engagement with opportunities, people, diversity and knowledge. An understanding of ourselves, and the needs of a wider group, of our employers, customers, corporate and commercial competitors has, in my experience, always been at the heart of respected and content entrepreneurs and leaders – and should be encouraged for success. University’s Law School, and was seconded to a new role as the university Director of External Affairs. As well as publishing over 60 papers on law, business and education, Professor Kirkbride has written and contributed to eight books on Business and Law. He has held personal Chairs and was awarded a Jean Monnet Chair in European Studies by the European Commission. His expertise is reflected in his appointment to the Department of Trade and Industry’s ‘Ideas Factory’ and his appointment as the first chair of the Standard’s Committee West Yorkshire.

THE BUSINESS SCHOOL

ABOUT US: LIVERPOOL HOPE BUSINESS SCHOOL have run successful businesses. This means the School is highly qualified at an academic, professional and experiential level, to engage in research that connects with the business sector. With strong links to a range of leading local and national companies, professional bodies and organisations, and a range of innovative ethical and social enterprises, the School has a reputation for developing students with sound theoretical principles and a thorough understanding of contemporary business practices. The Business School curriculum is cuttingedge with all teaching research-informed and delivered by staff with both professional and practical backgrounds. A high number of staff have PhDs, while three members of the School

The School is organised into three teaching and research clusters; Accounting and Finance, Business Management, and Marketing. Guest lecturers and practitioner input, allows students the opportunity to visit companies, study abroad and work via Young Enterprise to develop and run their own business.

WHO WE WORK WITH:

BUSINESS DEVELOPMENT CLUB

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To find out more please visit: www.hope.ac.uk/businessschool

Pulse is published by Liverpool Hope Business School, Hope Park, L16 9JD.

T: 0151 291 3087 E: businessschool@hope.ac.uk

The views expressed in the magazine are those of the contributors and do not necessarily represent those of Liverpool Hope University.

LiverpoolHopeUniversity @LiverpoolHopeUK