Aalto School of Business Quality Assurance

June 12, 2014

Tuija Nikko

Director of Quality and Accreditation School of Business

School of Business

The leading business school in Finland

FT ranking: # 2 in the Nordic countries

Long-term goal: Towards comprehensive, ’top ten’ business school in Europe by 2020

•  Research excellence •  Pioneering education •  Deep societal impact

2007 - 1997 - 1998 - 1998 - 2001 -

103 faculty members

+ post docs + visiting

faculty

3,600 B.Sc. & M.Sc. students 250 Doctoral

students + MBA students

Milestones

School of Economics established by the business community

1904 1911 1970 1974 2010

Helsinki School of Economics received University standing

Executive Education began

Helsinki School of Economics became a state university

Helsinki School of Economics became part of Aalto University

Dean

Departments

School of Business

Management Studies Accounting

Marketing Finance

Economics Information and Service Economy

Centers

Center for Markets in Transition (CEMAT) Center for Knowledge and Innovation Research (CKIR) Small Business Center (PYK)

Research & Int’al Cooperation Teaching & Learning

Academic Affairs Committee

Service Functions

Board of Directors

MBA Board of Studies

Aalto University Executive Education Ltd.

Scientific Advisory Board

Corporate Advisory Board

Vice Deans

Organization

Key steps towards world class •  Global hiring of Tenure Track Professors but also

Professors of Practice and Executives in Residence

•  Internationalization of faculty, students & staff, both in terms of nationality and experience

•  Development of a strong student learning culture, investments in teaching/learning material

•  Multi- and interdisciplinary research and studies across business, technology & design

•  Work closely with alumni, firms and organizations in long-term partnerships

•  Strong support for entrepreneurship

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•  Tenure track professorships as core: focus on research & teaching/learning + societal contribution

•  76 professorship (tenure track) positions today: 37 positions filled since 2010, more than 1/3 filled with foreigners + a number of ’returnees’;

•  Target: 90 professors in 2020 •  Mostly assistant professorships in the years ahead + selected world class professors •  Aim: balanced personnel structure with mix of senior & junior faculty members

•  University lecturers: 21 •  Diversity of positions for people with relevant practical and/or academic

competence in addition to professorial tenure and lecturer track positions: -  Professors of Practice, Executives in Residence: mostly part-time, 1-5 year contracts -  Visiting and Adjunct Professors: Typically 3-year contracts, 4 weeks present per year -  Post-Doctoral researchers: Currently 20+ funded by the School but in the future mostly

employed in externally funded projects

Faculty Management

Research Aalto Strategy KPIs •  Publication quality (Crown indicator)

•  Excellence grants to Faculty (no. of)

•  Competitive research funding (M€)

•  Grants and awards (no. of)

•  Interdisciplinary projects (%)

•  Quality of top applicants (Hm index)

•  Quality and volume of research with foreign universities and institutes

Joint school KPIs •  Doctoral degrees (no. of)

•  International refereed publications (no. of)

•  Other scientific publications (no. of)

School’s internal KPIs •  Placement of PhDs (qualitative indicator)

•  Publications in journals on FT45 list (no. of)

•  Publications in JUFO level 3 journals (no. of)

•  Citations (no. of in ISI)

Education and Learning Aalto Strategy KPIs •  Teaching quality: scores of course feedback

•  Teaching quality: proportion of teachers with pedagogic credentials (%)

•  Student performance: students with ≥ 55 credits / year (%)

•  Alumni satisfaction

•  Employer satisfaction

•  Multidisciplinary studies (%)

•  Students with international study component (%)

Joint school KPIs •  Master’s degrees (no. of)

•  Bachelor’s degrees (no. of)

•  Avg. no. of credits / 1st and 2nd year enrolled students

•  Percentage of foreign students (Master/PhD)

•  Exchange students, to and from Finland (no. of)

School’s internal KPIs •  University partners with international

accreditations (%)

•  International double degree agreements (no. of)

•  Achievement of B.Sc. and M.Sc. Pro-gramme learning goals and objectives (rubrics)

•  FT ranking (position of school in Europe)

•  Teaching contribution to AEE (no. of faculty)

•  Teaching cases produced (no. of)

•  Teaching cases sold (no. of)

Societal Impact Aalto Strategy KPIs •  Total income from non-academic partners (M€)

•  Average amount of funding/non-acad. Partner (M€)

•  Commissions of trust for domestic and international public & private institutions (no. of)

Joint school KPIs

School’s internal KPIs •  Partnerships (no. of Full, Campus and CEMS

partners)

•  School’s media hits (no. of)

•  Student employment after 3 months of graduation (%)

•  M.Sc. graduates salary level (€)

School of Business Key Performance Indicators

Finance

Bachelor and Masters Programs 2013-

Bachelor programmes

Masters programmes

Business (Finnish language skills required) International Business, Mikkeli

Accounting Business Law Corporate Communication

Creative Sustainability

Information and Service Management

Marketing

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Economics Entrepreneurship

International Design Business Management Management and International Business

Strategy

Joint Aalto University Programme Organized jointly with the Schools of Arts, Design & Architecture and Engineering Organized jointly with School of Science

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School of Business Key Figures - Education (March 19,2014)

2010 2011 2012 2013

B.Sc. degrees 357 408 381 411

M.Sc. degrees 246 313 390 457

Ph.D. degrees 19 24 25 20

1st & 2nd year students, average credit units

55.8 55.5 56.0 59.4

Outgoing exchange students (Incl. Mikkeli BScBA programme)

337 344 359 362

Incoming exchange students (Incl. Mikkeli BScBA programme)

287 263 258 266

Steps towards Triple Crown 1992-2007

The first international quality audit by EFMD

1992 1997 1998 2002 2007

Full-time MBA Programme accredited by AMBA Accredited status extended to Part-time MBA in 1999

First EQUIS Accreditation

Membership in AACSB

AMBA Accreditation for the whole MBA portfolio Initial AACSB Accreditation

In the picture Helsinki School of Economics 1950

“Triple crown” accreditation – as the The first Business School in the Nordic countries AACSB The Association to Advance Collegiate Schools of Business (AACSB) - the most highly esteemed form of accreditation an institution and its business programmes can earn. Further information about AACSB » (aacsb.edu/) AMBA Association of MBAs (AMBA) - only for MBA programmes of the highest quality. Further information on AMBA » (mbaworld.com) Read more about the MBA and EMBA programmes of the School of Business » (aaltoee.fi/fi)

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“Triple crown” accreditation – as the The first Business School in the Nordic countries EQUIS accreditation – The European Quality Improvement System awarded by European Foundation for Management Development (EFMD), proves that the School of Business is an international school that fulfils European quality standards. Special attention is paid to internationalisation and corporate relations. More information on EQUIS accreditation (efmd.org)

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Why Accreditations? • Quality Label •  Evidence of fulfilling international business school quality standards

and criteria •  Evidence of belonging to the top 1 % of business schools worldwide •  Reputation building / Branding -  Recruiting asset -  An asset when negotiating international partnerships

Enhancing Quality Culture •  Enhances commitment to continuous systematic development -  Development objectives specified for each five-year period

•  Provides a strategic tool for developing and benchmarking own activities

Networking and learning from others •  Conferences & seminars; affinity groups; site visits; reviewing; shared

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School of Business Quality System (QS) in a nutshell The quality work at the School of Business is strategic, developmental and future oriented. It includes ‘looking after the triple crown’, and fulfilling the commitment of the School to be a world class business school by 2020.

Ø  QS closely linked to strategic planning, management and operations management through goals and Key Performance Indicators (KPIs)

Ø  QS closely linked to the framework of international accreditations Ø  Quality assurance PDCA integrated into the annual dialogue cycles

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The Cycles of Dialogues

The KPIs and the strategic development actions are regularly followed up, lessons learnt, and future actions planned and agreed upon within the framework of continuous dialogues at different levels

Ø  International peer review processes associated with accreditations, mostly on a 5-year cycle

Ø  Regular dialogues with the School’s SAB and CAB Ø  Two annual dialogues cycles between the President and the School Ø  Two annual dialogues cycles between the Dean and the academic departments,

the centers, and the School level service functions Ø  Annual individual personal Development discussions with immediate

superiors

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Information produced by the QS for the needs of strategic and operations management at the School of Business Ø  Feedback on performance with regards to the KPIs

Ø  Numerical performance data

Ø  Evidence on development with regards to the strategic development actions

Ø  Statistical data required for annual reporting Ø  Feedback reports from the international accreditors

Ø  Requirements and/or recommendations for improvement

Ø  Feedback and recommendations from SAB and CAB

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School of Business Annual Curriculum Review Process

January-March •  Operational implementation of all degree /

program /course level changes & revisions

April •  Academic Committee for the School

of Business approves the study programs for the following academic year

October •  M.Sc. Program

Committees and B.Sc. teams meet to consider the Report and other feedback

December •  School-wide consideration of the

annual review results in the December Workshop on Teaching and Learning

June–August •  Program Directors’ Annual

Reports are being prepared by Quality Services of the results of the finishing academic year

November •  Vice Dean has a program

development discussion with each Program Director

•  Program Directors submit a review report as to “where we are and how do we develop” to the Vice Dean

September •  Annual Program Reports

submitted to Program Directors, including summaries of student performance data & feedback; employment data & employer feedback; AOL results etc.

Leading the Way biz.aalto.fi/en