Annual Report 2015

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Title: Annual Report 2015
Abstract: In keeping with our long-term strategy of being an internationally recognised, competitive and research-intensive business school, Hanken has worked since 1999 to obtain international accreditations. In the autumn of 2015, Hanken obtained the AACSB-accreditation and achieved the long-term goal of being a so-called Triple Crown-business school. In 2015, Hanken also qualified for the Financial Times’ (FT) annual Masters in Management ranking. Hanken’s master’s programme was ranked 67th, an extremely good result considering that there are in total some 15 000 business schools in the world. This contributed to Hanken also being listed 76th in Financial Times’ ranking of the best business schools in Europe. Hanken´s investments in corporate responsibility and activities within the Principles for Responsible Management Education (PRME) were recognized as Hanken was again elected member in the PRME Champions group. Hanken´s ambition to direct research investments towards quality over quantity using different incentives, for example through rewards that the Hanken Support Foundation hands out for top publications, has been successful. The first Hanken Research Day was organised in Helsinki during the autumn in order to further develop the research environment. Researchers shared their ideas and strengthened networks across both disciplinary and unit boundaries, improving collaboration within Hanken. The Hanken Research Day will have its counterpart in an annual teaching event, Hanken Teaching Day, which will be arranged in 2016 in Vaasa. During the year, Hanken launched a renewed programme portfolio of international master’s degree programmes. There are now fewer programmes, but students can choose from different orientation possibilities. With these renewals, Hanken looks to becoming more competitive in the international market for master’s degree programmes. Hanken´s organisation has undergone changes during the year regarding decreasing the number of subjects that can be chosen as a major subject within degree education. While remaining an important support subject at Hanken, Statistics is no longer an option as a major subject for Hanken students. Through taking these measures, Hanken is aiming to create a critical mass and divide its resources wisely among its areas of strength. During 2015, negotiations concerning structural cooperation were initiated between Arcada and Hanken, leading to an agreement on concrete forms of cooperation in 2016. One of these joint ventures is support for digitalisation. Digitalisation of Hanken´s activities has progressed within both teaching and administration during 2015. The goal is to share knowledge, create courses and optimise use of resources as well as to create digitalised services. Hanken will continue to pursue collaborations that offer resource-effective solutions, without compromising Hanken´s status as a stand-alone business school. Another investment that strengthened Hanken´s position as a stand-alone business school with activities in both Helsinki and Vaasa, was to buy the properties at both locations. This increased the university´s balance sheet total, which was already strong thanks to the successful Hanken 100 fundraising campaign and the returns from investments made. Hanken´s economy was stable in 2015 and thanks to investment activities the result showed a profit. The forecast for Hanken’s funding is, however, disquieting and the need for external financing is increasing. The ongoing HANKEN RETURNS fundraising campaign is very important for Hanken´s future. It gives me great pleasure that the campaign has continued successfully in 2015 and I wish that as many as possible will be able to participate before the campaign ends in 2017. As new Rector I took over a successful business school. Hanken´s success stems from the efforts of Hanken´s dedicated personnel together with our students, alumni, partners and our friends. A warm thank-you to all who have contributed and supported Hanken and our continuous and ongoing development! Karen Spens Rector, Professor
Date: 2016-08-10

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