National strategy for business and economicsGrowth, innovation and well-beingA national forum for business and economics9 November 2010

ContentsIntroduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Our.mission. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Our.vision. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Research.–.Science.and.effectiveness.for.society’s.needs.with.the.right.resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4Teaching.–.High.level.of.business.studies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6Universities.–.Business.and.economics.at.the.spearhead.of.the.development.of.universities. . . . . . . . . . . . . . . . . . . . . . . . .8Society.–.The.future.of.society.is.based.on.excellence.in.business.and.economics. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Turning.targets.into.reality. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

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Introduction.The.evolving,.changing.world.needs.trendsetters.and.trail-blazers .. Business. and. economics. play. a. huge. role. in. both.cases ..New.technology.alone. is.not.enough,.and.neither. is.the.knowledge.of.society,.natural.sciences,.people.or.the.arts ..Expertise.and.research.in.business.and.economics.produce.new.innovations.and.solve.problems.wherever.people.meet.to.provide.goods.and.services,.to.trade,.or.to.exchange.ideas ..

There.is.a.clear,.growing.demand.for.expertise.in.business.and.economics. in.Finland.and. throughout. the.world ..As.a.strong.discipline,.business.and.economics.play.a.key.role.in.the.promotion.of.business-related.expertise.in.all.sectors.of.society.and.among.other.sciences ..This.is.an.important.task.for.business.and.economics,.now.and.in.the.future ..

In.2008,.we.launched.a.process.for.creating.a.common.strat-egy.for.the.discipline.of.business.and.economics ..The.result.of. the.process.was.an. increasingly.target-oriented.culture.of.co-operation.within.the.discipline.to.make.business.and.economics.work.even.more.effectively.than.before.in.order.to.reach.their.targets ..The.strategy.is.a.development.tool.for.universities,.faculties.and.schools.of.business.and.economics .

ContentsIntroduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Our.mission. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Our.vision. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Research.–.Science.and.effectiveness.for.society’s.needs.with.the.right.resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4Teaching.–.High.level.of.business.studies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6Universities.–.Business.and.economics.at.the.spearhead.of.the.development.of.universities. . . . . . . . . . . . . . . . . . . . . . . . .8Society.–.The.future.of.society.is.based.on.excellence.in.business.and.economics. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Turning.targets.into.reality. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

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In.their.own.field,.business.and.economics.must.be.able.to.meet.major. challenges. in.order. to.maintain.and. reinforce.their.high.scientific.standard.and.valuable.social.interfaces ..Some.of.these.challenges.are.external.trends.or.events,.and.some.exist.within.science.and.its.functions ..The.most.im-portant.of.these.themes.are:

•. Internationalisation.and.international.competitiveness•. Sustainable.development.•. Fundamental.change.in.the.economic.system•. Multidisciplinarity•. Creation.of.innovations.and.growth.entrepreneurship•. Growing.demand.for.business.expertise.and.its.chang-

ing.nature

These.issues.will.have.an.impact.on.the.contents.of.research.and.teaching,.but.they.also.require.changes. in.the.culture,.procedures.and.attitudes.of.the.discipline ..We.must.be.able.to.act.in.co-operation.so.that.the.discipline.of.business.and.economics,.which.is.geographically.relatively.widely.spread.in. Finland. but. often. operates. in. small. units. offering. al-most.all.subjects.of.business.and.economics,.would.be.able.to.meet.these.challenges ..This.will.be.realised.through.the.actions.of.this.strategy,.divided.into.four.sectors:.research, teaching, activities within universities.and.participation in the workings of society .

Universities. with. teaching. and. research. activities. in. busi-ness.and.economics.are.at.the.centre.of.the.national.strat-egy.process.for.business.and.economics ..In.addition,.several.bodies,. including. enterprises,. students,. public. institutions.and.experts.in.various.fields.have.provided.their.views.for.the.strategy ..We.wish.to.thank.all.participants.to.the.proc-ess:.with.their.contribution,.we.have.been.able.to.pave.the.way.towards.a.better.future.for.the.field ..A.better.future.not.only.for.those.who.take.part.in.the.field,.but.for.all.those.who.benefit.from.business.and.economics ..

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Aalto.University.School.of.Economics

Hanken.School.of.Economics

Turku.School.of.Economics,.University.of.Turku

University.of.Tampere,.Faculty.of.Economics.and.Administration

University.of.Oulu,.Faculty.of.Economics.and.Business.Administration

Lappeenranta.University.of.Technology,.LUT.School.of.Business

University.of.Eastern.Finland,.Faculty.of.Social.Sciences.and.Business.Studies

University.of.Vaasa,.Faculty.of.Business.Studies

Åbo.Akademi.University,.School.of.Business.and.Economics

Jyväskylä.University.School.of.Business.and.Economics.

Our missionBusiness.and.economics.are.promoting.sci-ence,.well-being.and.responsible.growth.in.Finland.and.throughout.the.world .

Our visionBusiness. and. economics. meet. the. eco-nomic. challenges. of. the. future. by. foster-ing. expertise. in. business. and. economics.and.the.amount.of.research. it. is.based.on ..This.can.be.seen.in.sustainable.innovations,.solutions.and.efficiency.that.provide.added.value.in.Finland.and.on.the.global.market .

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Research Science and effectiveness for society’s needs with the right resources

The ability and possibilities of faculties in business and economics to produce high-standard and internationally esteemed research are developed in a goal-oriented way

High-standard.research.activities.will.always.be.at.the.core.of. business. and. economics,. to. develop. both. the. scientific.community.and.society ..The.national.and.international.sci-entific.effectiveness.and.potential.for.top-level.research.of.Finland’s.business.and.economics.are.developed.in.a.goal-oriented.way.through.the.social.relevance.of.research.ques-tions,.operational.preconditions.for.first-class.research,.peer.review.that.accounts.for.the.specific.characteristics.of.busi-ness.and.economics,.and.effective.publishing.activity ...Every.faculty.and.school.studying.business.and.economics.has.its.own.strengths,.which.are.well.known.and.disseminated.so.that.business.and.economics.are.able. to.operate.as.an.ef-fective.network.and.to.create.natural.research.channels.in.society .

New co-operation models are sought for stronger involve-ment of the private and third sector in the funding of ap-plied, basic and multidisciplinary research in business and economics

Operating.cultures.and.targets.are.adapted.to. the. funding.bodies.and.the.users.of.research.results ..We.will.seek.new.operating.models.to.combine.the.third.and.private.sector’s.need.for.rapidly.available.research.data.with.long-term,.ex-tensive.research.projects.and.publication.of.articles .

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Funding.from.overseas.is.also.increasingly.sought.in.co-op-eration.with.other.faculties.and.business.schools .

Recruitment of top-level international researchers and teachers and internationalisation of Finnish excellence are invested in

Co-operation.models.between.universities.based.on.profiles.and.needs.are.launched.in.order.to.be.able.to.recruit.top-level.international.experts.both.alone.and.separately.and.to.share.out.the.resulting.costs.where.possible ..This.will.fur-ther.increase.the.possibilities.of.Finnish.research.to.partici-pate.in.global.research.activities.and.internationalisation .

The career development of researchers is promoted in ac-cordance with the international criteria, with time reserved for research

The.career.development.of.researchers.is.invested.in.to.pro-vide.them.with.the.opportunity.of.developing.into.top-level.researchers. who. meet. the. international. criteria .. Means. of.arranging.more.time.for.research.activities.and.internation-al.interaction.are.sought.by.encouraging.more.effective.time.prioritisation.of. the.researchers.and.by.reducing.adminis-trative.work.wherever.possible ..

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Teaching High level of business studies

Teacher/student ratio to reach an appropriate level

Currently,. the.number.of. students.per. teacher. is. too.high,.which.makes.it.difficult.to.maintain.a.high.standard.of.teach-ing .. .One.alternative.to.maintain.quality. is. to. increase.the.number.of.teaching.staff ..

With. an. appropriate. teacher/student. ratio,. pedagogically.advanced. methods.will. be. employed. in. teaching,. students.and.teachers.are.able.to.meet.in.smaller.groups,.and.the.dis-semination.and.quality.of.knowledge.is.ensured .

Students and studying to move closer to scientific activities from the early stages of the studies

Students.are.more.committed.to.their.studies.and.the.uni-versity’s.activities.when.they.are.involved.in.the.activities.of.the.scientific.community.from.an.early.stage ..By.taking.part.in.research.projects.and.their.planning,.students.will.have.a.natural.relationship.with.their.own.field.of.science.and.be-come.familiar.with.a.career.in.research.while.getting.a.clear.idea.of.business.and.economics.as.a.science ..

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Study modules to be designed as target-oriented packages with a clear content

Studies.in.business.and.economics.will.be.designed.as.enti-ties,.with.a.focus.on.the.students’.expected.level.of.knowl-edge.at.the.end.of.their.studies ..The.contents.of.courses.and.teaching.methods.will.be.built.to.serve.the.overall.targets.of.the.degree ..This.way,.once.the.students.have.completed.their.studies,. they. will. have. the. required. contentual. knowledge.and. the.necessary.generic. skills,. such.as.presentation.and.teamwork.skills.and.the.ability.for.continuous.learning.and.seeking.of.information ..

Attention.will.also.be.paid.to.the.fact.that.the.learning.mod-ules.will.be.as.compatible.with. international.co-operation.solutions.and.accreditation.projects.as.possible ..

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.Universities Business and economics at the spearhead of the development of universities

Business and economics to function as a channel and forerunner of internationalisation at universities

Business.and.economics.have.already.excelled.in.the.number.of.student.exchanges.in.and.out.of.the.country ..Therefore,.it.is.high.time.it.took.bold.steps.with.the.quality.factors.in.the.exchange.periods.and.increasing.their.numbers ..At.the.same.time,.business.and.economics.can.function.as.an.example.of.best.practices.within.universities .

Business.and.economics.take.the.requirements.of.interna-tionalisation.into.account.in.the.aspects,.methods.and.con-tents.of. teaching ..At. the.same.time,. the.business.and.eco-nomics. faculties,. student. organisations. and. the. academic.community.will.support.the.integration.of. leaving.and.re-turning. exchange. students,. overseas. degree. students. and.the.teaching.staff.into.the.scientific.community,.culture.and.society. already. during. the. exchange. period .. This. way,. the.preconditions.for.foreign.students.to.stay.in.Finland.will.be.boosted.further.and,.on.the.other.hand,.the.experiences.of.Finnish.exchange.students.will.be.utilised. in.the.scientific.community .

Business and economics to be top experts and developers of the quality of teaching in universities

Business.and.economics.are.further.developing.their.qual-ity.control.systems. in.order.to. function.flexibly,.while.ex-tensively.promoting.the.quality.culture ..For.example,.giving.feedback,.and.feedback.on.feedback,.and.the.consequent.re-action.are.part.of. the.everyday.culture,. as. is. the.develop-

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ment.of.working-life.relevance.and.pedagogical.skills ..This.culture.and.its.best.practices.are.promoted.within.the.com-mon.forums,.research.projects,.and.activities.at.universities .

Business and economics are ready to pilot new structural development projects in teaching

Business. and. economics. are. prepared. to. broad-mindedly.experiment.with.new.models.in.the.organisation.of.teaching.within.universities,.for.example,.in.the.selection.of.students,.a.two-tier.structure.of.studies,.and.co-operation.with.uni-versities.of.applied.sciences.or.post-graduate.colleges ..This.means,.for.example,.focusing.only.on.degree.studies,.select-ing.students.separately.for.Bachelor’s.and.Master’s.level,.or.organising. shared. study. contents. with. universities. of. ap-plied.sciences.or.continuing.education.providers .

Funding within universities should take into account the significance of business and economics as a procurer of funding and provider of minor subject teaching, in addition to the total costs of research

Business.and.economics.and.business.expertise.play.a.key.part. in.the.multidisciplinary.entity.and.selection.of.minor.subjects.in.universities ...In.addition,.business.and.econom-ics.are.involved.in.the.development.of. internal.operations.and.regional.input.of.every.university,.as.well.as.in.fundrais-ing.work ..These.issues.must.be.visible.in.the.systems.for.dis-tribution.of.funding.within.universities.and.in.the.compre-hension.of.total.research.costs.in.business.and.economics .

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.Society The future of society is based on excellence in business and economics

Business and economics are in the spearhead of the devel-opment of productivity, quality and sustainability in public services

Business.and.economics.take.on.a.systematic.target.of.im-proving.the.operation.of.public.services.and.the.entire.pub-lic.sector.in.Finland.by.offering.its.research.and.excellence.for.its.disposal ..Various.faculties.and.schools.with.teaching.in.business.and.economics.will.provide.their.own.special-ties.while.seeking.multidisciplinary.operating.models.with.other.fields .

Business and economics maintain the variety of education and research, which strongly supports growth entrepre-neurship in Finland and throughout the world

The.supply.of.education.in.business.and.economics,.as.well.as. the. setting. of. research. problems,. will. be. developed. to.support. both. Finnish. and. global. growth. entrepreneurship ..Research.and.education.in.business.and.economics.in.basic.qualifications.and.leadership.training,.support.companies.in.their.critical.growth.stages.where.an.entrepreneur.wants.to.expand. its. company .. . This. calls. for. not. only. teaching. and.research.in.business.and.economics,.but.also.strong.co-op-eration.in.their.fields.of.know-how.and.geographical.areas .

Business and economics are challenging every sector of society into a debate to develop operations and make scien-tific results and excellence available

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Every.university.is.already.collaborating.with.the.local.busi-ness.sector. in. its.own.area ..A.common.strategic. intent,.as.well.as.dissemination.and.co-ordination.of.knowledge.and.expertise,.will.result.in.more.efficient.and.tailored.interac-tion.with. the.private,.public.and. third.sector,.and.with. the.alumni.networks.of.universities ..There.are.many.solutions.for.this.co-operation.at.the.school,.subject,.faculty.and.uni-versity.level,.and.they.can.be.implemented.taking.the.local.needs.into.account ..These.solutions.can.also.be.used.for.fur-ther.increasing.the.labour.market.relevance.of.the.studies .

Business and economics will be a key export product for Finland in the future

Excellence.in.business.and.economics.already.has.a.major.global.market,.which.the.business.and.economics.operating.in.Finland.can.engage.in ..This.requires.development.within.legislation,.the.brand.of.business.and.economics,.marketing.and.the.operations.within.business.and.economics ..Finland’s.reputation.as.an.innovative.and.responsible.economy.sup-ports.these.operations .

Business and economics offer highest-level management training while implementing the task of lifelong learning

Business. and. economics. have. solid. participation. in. the.promotion. of. lifelong. learning. –. each. university. in. its.own.strength.areas.–.offering.wide-ranging.additional.and.continuing. education .. Business. and. economics. also. of-fer. highest-level. management. training. for. graduates. and.people. with. long. experience. in. working. life .. This. way,. the.latest.scientific.research.and.management.learning.will.be.transferred.for.the.use.of.society.and.all.those.who.need.it ..Through.management.training,.business.and.economics.will.promote. profiling. of. universities. as. a. provider. of. socially.important.expertise. in.all. stages.of. life ..At. the.same. time,.training.in.MBA.and.eMBA.degrees.is.a.vital.and.functioning.business.form .

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1. Establishing Business Schools Finland ry

We are establishing the association of Business Schools Finland ry (BSF). BSF will operate as a national and international debater, supervisor of interests, researcher, disseminator of best practices, and as a common forum for its members.

The members and decision-makers of the association will be busi-ness schools, as well as faculties and departments providing teach-ing and research in business and economics in Finland. In addition, the most important interest groups in society will be invited as supporting members.

As the implementer of the will and targets of its members, the association will be a natural interlocutor for ministries, field-specific student organisations, the business sector, and generally for all important national and international interest groups and decision-makers. This will not exclude individual social activities by the members of the association.

Measures to establish the association are launched with immedi-ate effect. BSF will start its operations in the first half of 2011.

Turning targets into realityWe are now launching the implementation of three action entities to achieve the targets referred to in the strategy:

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2. Clarifying the funding for research in business and economics

The role of business and economics as a future player is founded on strong basic and applied research, which is both nationally and internationally recognised top-level research.

We propose that business and economics at the Academy of Fin-land will be moved out of the Research Council for Culture and So-ciety, and a separate council be established for business and eco-nomics. We also propose that the Academy of Finland and Tekes will develop programmes aimed at business and economics on a permanent basis.

3. Making business and economics thinking, science and business expertise to support the public and third sector

We provide expertise in business and economics in aid of deci-sion-making by the public and third sector, to develop the econo-my, for bodies in science policy, and in support of public projects and studies. Decision-making by the public and third sector is so essential for the future of society that knowledge and expertise in business and economics must be made more available.

In addition to active provision of resources, Business Schools Fin-land will gather together the latest research, personal expertise and projects in business and economics so that participants in so-ciety will have a good knowledge of what business and economics have to offer.