NEWSLETTER 1– 13fROM haNkEN SChOOL Of ECONOMICS

There is gold in old

Lars - Johan L indqvist vice- rector of the vasa campus

Hanken’s main building at the Helsinki campus was built in the early 1950’s and the grand opening took place in Octo-ber 1953. The building at our Vaasa campus is even older. It was built as early as 1927 and planned by architect Matti Björklund, in whose offices the world-famous Alvar Aalto once worked as a trainee. Today, located in the heart of the city and with the Wärtsilä factory only a stone’s throw away, the building is perfect for a modern business school. After a complete renovation in 2002 it was ready to host Hanken’s students and researchers.

However, not only buildings are growing older. The United Nations Population Fund reports that by 2050 the number of countries with people over 60 constituting over 30 per-cent of the population will have reached 64, as opposed to only one such country existing today! Older people are also healthier and wealthier than before, making people over 60 an important target group for business.

Business schools should consider this market segment in their research and their curriculum, especially in subjects like marketing, leadership and IT. Han-ken has published research in this area and offered courses in “Marketing to senior consumers” since the 1990’s. But business schools could and should do more. The impact of an ageing popula-tion should be integrated in all subjects. As life expectancy is predicted to rise to 100 for more and more people, offering programmes to senior students could be a golden market for business schools.

Hanken is already over 100 years old but remains young at heart and mind, ready to meet the challenges of a global world.

hanken is investing heavily in entrepreneur-ship. By founding the erling-persson centre of entrepreneurship, the school will be a forerunner in education and research in this field.

- there is a clear increase in demand among both students and the industry, says professor martin Lindell, who accepted the assignment to create the centre.according to Lindell, the need for university-level education in entrepreneurship cannot be stressed heavily enough. now hanken has the means to deliver outstanding educa-tion and research in this field.

- research and teaching alone do not suffice, contacts with the industry are extremely important, so we plan to arrange workshops for companies and business leaders in order to present our research results, says Lindell.

NEW RESEaRCh aNd kNOWLEdgE CENTRE: ThE ERLINg-PERSSON CENTRE fOR ENTREPRENEuRShIP

the activities at the centre started in January 2013. a festive opening ceremony was organised 7 february with a welcoming speech from stefan persson, chairman of the boards of h & m and the erling-persson family foundation.

the centre is named after an important do-nation to hanken the erling-persson family foundation. the donation was made in con-nection with the hanKen 100 fundraising campaign, with the intention of strengthe-ning hanken’s basic capital.

stefan persson

NEW VICE RECTOR Of RESEaRCh aPPOINTEdDr Rune Stenbacka, professor in Economics, has been ap-pointed new Vice Rector. Dr Stenbacka’s main area of re-sponsibility is Research. He will be working alongside Dr Karen Spens, Vice Rector for Education, and Dr Lars-Johan Lindqvist, Vice Rector for the Vaasa Campus.

NEW PROfESSOR IN ENTREPRENEuRShIP”This is sort of pioneering work. I feel like something of an entrepreneur myself,” says Dr Pia Arenius, newly appoin-ted Professor of Entrepreneurship at Hanken. She will also have a prominent role in the newly founded Erling-Persson Centre for Entrepreneurship.

Dr. Arenius was attracted to Hanken by a combination of the school’s size, its high research intensity and its strong international commitment.

- Hanken researchers conduct top quality international research and I want to be part of it, she says.

Arenius emphasizes that there is a real need for offering a university education to entrepreneurs as they have a dif-ferent view of business and entrepreneurship. These pro-spective “academic” entrepreneurs can be expected to start up businesses that differ from previous ones. Diversity is a strength needed in our society, among entrepreneurs as well.

MaIN BuILdINg 60 YEaRS60 years have passed since the inauguration of Hanken’s current main building. In the autumn of 1953, a ball was arranged here to celebrate the new facilities.

The building stands as proof that even then the students at Hanken showed great commitment to their alma mater, participating actively in fundraising for the building project. This was done through i.e. a car lottery and singing perfor-mances in the courtyards of central Helsinki, the donors re-ceiving Hanken matchboxes.

Today we are still proud of our typical 50’s functional building, although the School has expanded into several surrounding buildings, not to mention the addition of the Vaasa campus in 1980.

NEW BOaRd TakES OffICEa new board for hanken school of economics has been appointed and has taken office on 1 January. the Board of the school is the highest decision-making body, it has ten members including four external members, a student representative and five members repre-senting faculty and staff.

external members are philip aminoff (chairman, electrosonic Group)Jannika fagerholm (md at signe and ane Gyllenberg foundation) Johanna tidström (chairman of the Board at fineva ply oy)Björn Wahlroos (chairman of the Board in sampo Group, nordea and upm-Kymmene).

student representative is:rasmus savander

representatives of the faculty and staff are:Johan KnifKicka Lindrooscharlotta niemistötore strandviksusanna taimitarha.

professor rune stenBacKa professor p ia arenius

hanKen students fundrais inG

haNkEN PREPaRES TO LauNCh NEW Phd PROgRaMMEThis spring, Hanken launches its new PhD Programme and is thus one of the very first universities in Finland to respond to ongoing national-level changes in doctoral edu-cation. The role of national doctoral programmes will dimi-nish significantly and the Ministry of Education and Culture demands that universities produce more doctoral degrees. Between 2013 and 2016, Hanken is expected produce an average of 16 PhDs per year.

-The new programme will be led by an Academic Board, consisting of experienced senior professors and chaired by Hanken’s new Vice Rector of Research, Professor Rune Stenbacka. It is supported by an Operative Steering Group which will ensure smooth practical support across internal unit boundaries for all Hanken PhD students, explains Dr Wilhelm Barner-Rasmussen, the director of the new pro-gramme.

COLLaBORaTION WITh ThE fINNISh METEOROLOgICaL INSTITuTE dr Gyöngyi Kovács, professor and director for the humLoG institute at hanken, is cooperating with the finnish meteorological institute on a stu-dy focused on risk management and climate change. she is responsible for coordinating the research work on supply chain management, the response of disaster relief organisations to weather warnings and the actions they take to support adaptation to climate change.

the joint research project, safe-met, will focus on the linkages bet-ween disaster risk management and climate change adaptation. the academy of finland, one of the most important funding institutions for academic research in finland, has granted funding for the project until december 31, 2014. project leader is ari venäläinen from the finnish meteorological institute.

fINNISh-ChINESE RESEaRCh IN COMPaRaTIVE LaWThe Academy of Finland has granted funding for Finnish-Chinese research in comparative law. The amount exceeds EUR 2 million. The funding has been granted to six pro-jects, including one consortium led by Dr Nari Lee from the Department of Accounting and Commercial Law at Han-ken. The project is titled: Legal Transplant for Innovation and Creativity: A Sino-Finnish Comparative Study on the Governance of Intellectual Property (TranSIP). The project has received funding until December 31, 2015.

haNkEN STudENTS ON WINNINg TEaM A private equity firm is thinking about buying Ducati, an Italian motorcycle company. Sounds like a case for an in-vestment bank or a consulting firm, but this time it was students from Hanken, Aalto University School of Busi-ness and Stockholm School of Economics that had to come up with a solution. It was time for the second Nordic Case Competition organised by Hanken and Aalto University.

Team number five, Richard Cawén and Katrin Ahlbäck from Hanken and Julia Fagerberg from Stockholm School of Economics took home the prize. When teams were put to-gether, the emphasis was on mixing students from different universities and majors. A total of 21 students participated, seven from each school. The participants were selected from over 80 applicants.

The winners of the competition received a job interview at Boston Consulting Group and a dinner with representati-ves from the management of Danske Bank – and the obliga-tory bottle of champagne!

the WinninG team: JuL ia faGerBerG, r ichard caWen and Katrin ahLBäcK

VA A S A

H E L S I N K I

WWW.haNkEN.fIINfO@haNkEN.fI

haNkEN aT a gLaNCEhaNkEN IN fIguRES » founded in helsinki 1909

» campus also in vaasa since 1980

» research and teaching in swedish and english in five different departments

» number of students enrolled for bachelor and masters degrees – 2183

» number of doctoral students – 164

» academic staff – 126

» number of partner universities worldwide – 105

aREaS Of STRENgTh » finance and statistics

» management and organisation

» intellectual property Law

» service and relationship marketing

BSc, MSc aNd Phd dEgREES IN » accounting

» commercial Law

» economics

» entrepreneurship, management and organisation

» finance

» information systems science

» management and organisation

» marketing

» statistics

» supply chain management and corporate Geography

MaSTER’S dEgREE PROgRaMMES IN ECONOMICS aNd BuSINESS » corporate Governance (helsinki)

» economics (helsinki)

» financial economics (helsinki)

» intellectual property Law (helsinki)

» international management and strategy (helsinki)

» marketing (helsinki)

» quantitative finance (vaasa)

ExECuTIVE EduCaTION » hanken mBa

» hanken & sse executive education

» hanken executive education vaasa

» cefa/ciia certified effas financial analyst

NEW BILaTERaL ExChaNgE agREEMENTSHanken has signed a new bilateral exchange agreement. The new partner is:

LUISS - Libera Università Internazionale degli Studi Sociali - Guido Carli, Italy.

The Hanken excahnge scheme now consists of 105 partner universities in 37 countries.

haNkEN PaRTNER PROgRaMMEThe Hanken Partner Programme aims at building long-las-ting, mutually beneficial relationships that strengthen the connection between Hanken and the corporate world.

Hanken Premium Partners:

haNkEN fINaNCE daYThe focus of the morning seminar was the shift from a device-focused environment to a content-driven one, with new challenges and new possibilities. During the seminar key-note speakers Shawn du Bravac, chief economist and director of research for the Consumer Electronics Asso-ciation (CEA) and Timo Seppälä at Etlatieto Oy discussed for example how the boundaries between the physical and digital worlds have been blurred. Seppälä pointed out that the absolute majority of patent applications today concern software, not hardware. The participants also discussed how digitalisation affects the finance market as well as the behaviour of those working within it.

Hosts for the seminar were Hanken professors Anders Löflund and Timo Korkeamäki. The seminar attracted some 40 participants, including Hanken’s partners and a number of Hanken alumni.

Hanken Partners:

Hanken Vaasa Partner: