London, 22 January 2019: Business Schools have the ability to make a substantial impact in helping reduce global poverty, and collaboration between institutions will be key to maximising impact, according to an international study of management students and graduates, by the Business Graduates Association (BGA).
As part of its
Poverty and Impact Research Project, BGA conducted an online survey of 1,729 business students and graduates, taking place between 18 December 2018 and 13 January 2019, looking into how they believe Business Schools can contribute towards reducing global poverty.
Students and graduates were asked what they believe to be the most important issues facing Business Schools in the next five years and more than two fifths (42%) cite the impact Business Schools have on helping the poorest people in society. For context, a third (33%) say the salaries people can achieve from completing their business qualification; and 27% highlight a Business School’s ranking in key publications (such as the
Financial Times).
Students and graduates were also asked for their views on whether Business Schools help those who are in poverty.
While just over a third (36%) are confident that their Business School helps the poorest people in society, survey participants believe that Schools have an opportunity to do more, or communicate more effectively the poverty-related work they are undertaking.
In saying that, many business students and graduates highlight the positive contributions that their Business Schools already make towards helping those who are less affluent in society.
Almost half (49%) say that their Business School influences the way its students think about issues related to poverty and almost three quarters (76%) of students and graduates would personally like to promote the projects their Business School has developed to help society.
Meanwhile, more than half (56%) agree that Business School students are more concerned about how businesses can improve the lives of those in poverty compared with 10 years ago (just 14% disagree).
The capacity of Business Schools to make an impact on tackling poverty
Three quarters of BGA’s survey participants (75%) agree that Business Schools can make a substantial impact to reduce poverty globally. But there is also large agreement that the global Business School community needs to collectively do more to help alleviate poverty around the world (52% strongly agree and 35% agree with the sentiment).
This is further reflected in the average score students and graduates offer when asked how much impact their Business School is making towards poverty reduction. From a rating of 0-10, where 10 is the maximum amount of impact they could envisage, the average impact given by students and graduates was 4.75.
Collaboration seen to be key in maximising poverty-reduction efforts and impact
In total, 86% of survey participants would like their Business School to work more closely with other Schools, which face different local challenges, to help alleviate poverty. More than eight out of 10 (81%) agree that the collective effort of the Business School community is crucial in helping businesses work better for those on low incomes and in poverty.
Students and graduates recognise that there are a range of other inputs required in order for Business Schools to do more in this area.
The most frequently highlighted resource is more funding to directly run programmes and projects which support entrepreneurs from poorer backgrounds (63%). However, other non-financial inputs are also seen to be important.
The top mentions, from students and graduates, included increasing the awareness of the role Business Schools play in addressing poverty-related issues (58%); greater emphasis of poverty reduction as a purpose of Business Schools (55%); and more curricular on MBA programmes dedicated to alleviating poverty (50%). Meanwhile, almost half (45%) say that a greater focus on collaboration between Business Schools would help.
Will Dawes, research and insight manager at BGA, said: ‘There is overwhelming confidence among business students and graduates in the capability of Business Schools to make a real difference in contributing to the alleviation of global poverty.
‘Further collaboration between Business Schools may be one way in which the business management education sector can do more to help the poorest in society, by working together on projects, sharing research and collectively lobbying for their work to be seen in the business community.’
Which, if any, of the following would help Business Schools make more of an impact on tackling poverty?
|
% |
| Training academics to help communicate their research findings |
34% |
|
Funding to directly implement projects based on research |
43% |
| Funding to run programmes and projects which support entrepreneurs from poor backgrounds |
63% |
| Political support for the Business School community’s role in influencing business approaches |
32% |
| More collaborative working and sharing between Business Schools |
45% |
| More support staff within your Business School to help influence businesses, regulators and politicians into making a difference |
31% |
| More emphasis on poverty reduction as a purpose of Business Schools |
55% |
| Greater external investment into your local economy
(such as digital infrastructure and transport facilities) |
31% |
| More curricula on business programmes (such as the MBA) dedicated to alleviating poverty |
50% |
| Increasing the awareness of the role Business Schools play in addressing issues surrounding poverty |
58% |
| None |
4% |
| Other |
8% |
Further communication to students and graduates may improve awareness and recognition of Business Schools works on poverty reduction
A quarter (24%) of business students and graduates are sure that their Business School has implemented a programme or project which is directly working to alleviate poverty or help those on low incomes.
However, almost two thirds (65%) do not know if their Business School conducted such a programme, highlighting a lack of awareness of whether such programmes exist in their School.
The most commonly observed methods of contributions to poverty alleviation are through knowledge sharing, research and other learning across the business community (36%); operating in a way which focuses on the welfare of societies instead of profit (31%); conducting free seminars, learning opportunities or mentoring schemes for those on low-incomes (27%); and producing research which informs how businesses can help those in poverty (27%).
In which, if any, of the following areas do you think Business Schools can collaborate to help alleviate poverty around the world?
| Fully incorporate poverty-related content within a core module |
57% |
| Share knowledge, research and other learnings between the global Business School community |
61% |
| Conduct projects with future business leaders from low-income neighbourhoods |
68% |
| Conduct free seminars, learning opportunities or mentoring schemes for those on low-incomes |
67% |
| Develop products or technologies for low-income consumers |
49% |
| Develop services for low income consumers |
53% |
| Produce research which informs how businesses can help those in poverty |
61% |
| Operate in a way which focuses on the welfare of societies instead of profit |
54% |
| Other |
6% |
Students and graduates regularly act in ways which contribute to poverty reduction and the ethical, environmental and sustainability agenda
The research also examined business students and graduates’ personal attitudes towards poverty, sustainability, the environment and other ethically sound causes.
The behaviours that students and graduates most often adopt (always or often) tend to be related to energy and the environment. Seven in 10 (70%) say that they limited how much paper they print in order to reduce their impact on the environment and six in 10 (59%) limit their use of energy (such as gas and electricity) to reduce their carbon footprint.
More than a third (36%) always or often make charitable donations which help those in poverty and almost a quarter always or often volunteer their time to help those who are less affluent (24%) or buy Fair Trade products (23%). These students and graduates are contributing time and money on a frequent basis. The vast majority of students and graduates take these actions occasionally or more frequently:
- Make donations to charity (86%)
- Buy Fair trade products (83%)
- Volunteer time to help those who are less affluent (76%).
Dawes added: ‘This study shines a light on the excellent work of Business Schools around the world in helping to alleviate poverty and that business students and graduates are keen to drive forward these efforts further.
‘ It also demonstrates that much more can be done and that there is a widespread belief in the capability of Business Schools, especially when working collaboratively, to make a positive difference to those who are less affluent in society.’
ENDS
For more information, or interview opportunities, contact David Woods-Hale, Head of Communications at BGA d.woods@businessgraduatesassociation.com
About BGA’s Poverty and Impact Research
BGA’s Research and Impact team will kick off 2019 with our first global public affairs project, looking at the role of Business Schools in addressing poverty and social mobility.
According to UNICEF, almost half of the world’s population – more than 3 billion people – live on less than $2.50 a day. A further, 1.3 billion people around the world live in ‘extreme poverty’ – less than $1.25 a day – and it is understood that one billion children worldwide are living in poverty.
UNICEF reports that 22,000 children die each day due to poverty.
While anecdotal evidence shows that Business Schools are taking action on poverty, in terms of course modules and practical interventions in local and more global communities, there is a paucity of research on the role of Business Schools in addressing poverty and related issues.
This year, BGA will be conducting ground-breaking research with Business Schools across the world investigating the status of ‘poverty’ as a topic in business programmes; how Business Schools address poverty through specific projects; and the contribution of Business Schools to enhance lives of low-spend consumers, especially those in absolute poverty.
The study will focus on how the sector should tackle poverty and educate future leaders to help the economically disadvantaged.
It will also take a case-study and quantitative approach, identifying good examples of where Business Schools have made a difference to those who survive on the most limited resources; and gathering insight from students, graduates and Business Schools in terms of their attitudes and approaches to poverty.
BGA’s aim is to shine a light on the work of Business Schools in tackling poverty, and to heighten its important role in business management education. Read a selection of case studies from Business Schools working to close the poverty gap at www.businessgraduatesassociation.com/impact
About the Business Graduates Association
The Business Graduates Association is an international membership and quality assurance body of world-leading and high-potential Business Schools who share a commitment for responsible management practices and lifelong learning, and are looking to provide positive impact on their students, communities, and the economy as a whole.
It offers:
- Quality assurance services to Business Schools and similar institutions, aimed at continuous improvement and positive, measurable impact to increase a Business School’s credibility and influence
- Consultation and mentorship services to Business Schools to improve their marketing and admissions, programme design, alumni interaction, teaching methods, and career development services
- Award-winning international events for Business School professionals, focused on continuous learning
- Student and graduate membership, which includes social networking events worldwide, professional development tools, a career development centre, and much more
- Leading and award-winning content on responsible management, professional and personal growth, and influence via the Business Impact content hub
For more information, visit www.businessgraduatesassociation.com