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Panmure House Perspectives [Issue 5] ISSUE 5 2019 REVERED, REVIVED & REVITALISED A stellar international gathering of historians and leading economic thinkers pays homage to Adam Smith, setting his work into an urgent, contemporary context. DIRECTOR’S LEADING LIGHTS ALL FIRED UP LET THE DESERT CHAIR OF THE NORTH AND READY TO GO SUN SHINE IN In an exclusive interview, corporate Scotland’s First Minister Nicola Dr Jens Ullrich, a DBA from Heriot-Watt’s ESTEEM team leader Sue Clark, a director of Sturgeon welcomes the Icelandic Edinburgh Business School, rises to the Solar Decathlon Edinburgh Business School, shares Prime Minister to Panmure House for a examines the ethical compass at the challenge of designing and her experiences of driving change in summit on wellbeing and economics. heart of health and safety managers building a sustainable house in companies in international markets. in European fire-fighting services. Dubai as part of EXPO 2020. THE BUSINESS JOURNAL OF EDINBURGH BUSINESS SCHOOL, HERIOT-WATT UNIVERSITY OPENING GAMBIT Welcome AN INTRODUCTION FROM PROFESSOR HEATHER MCGREGOR contents ___________ issue 5 2019 challenges, we cannot escape the need to think about the conduct of our day-to-day business. There’s an urgent need to engage our NORTHERN NEIGHBOURS Scotland’s First Minister holds a special conference on wellbeing hosting the Icelandic community of staff, students and alumni in A New Dawn Prime Minister in Panmure House. ____ p4 the process of rethinking the organisation of our production. Everything from the learner CAMPUS PERSPECTIVES News and events from around for our Business School Heriot-Watt University and Edinburgh Business School. ____ p5 experience, to buildings in which we work and how we feed our staff and students is up for debate. THE PANMURE HOUSE PERSPECTIVES If we, as a university, are to establish a carbon elcome to the fifth edition of The 1st declaration of Panmure House urges INTERVIEW In an exclusive interview, corporate leader Sue neutral mode of operating we’ll need to rethink Panmure House Perspectives, ‘international leaders to base their policies and Clark, a director of Edinburgh Business School, shares her every aspect of how we work. Getting staff and the international business decision-making on a set of common principles, as experiences of driving change in companies in international journal of Edinburgh espoused and formulated by Adam Smith, which markets. ____ p6 students into large lecture theatres is historically a core part of university life. Educational concerns Business School, Heriot-Watt cherish the required values of an ethically-based liberal SOLAR DECATHLON IN DUBAI Heriot-Watt’s ESTEEM W University. We hope that democratic system, a moral commitment to the well- team rises to the Solar Decathlon challenge of building a about the effectiveness of the traditional lecture whatever your connection with our University, being of our communities and affirm responsibility to sustainable house in Dubai as part of EXPO 2020. ____ p10 aside, there are ecological concerns about the you find something of interest in its pages. protect economic, political and social freedoms, use carbon consequences of getting everyone to and A warm welcome for DR CAROLINE HOWITT’S DIARY from one of our campuses. A simplistic response This summer was a very busy time for everyone resources wisely, avoid unintentional consequences, all the VIP visitors who have toured Panmure House. ____ p14 at Heriot-Watt engaged in teaching and research in follow the rule of law, favour markets and prices as might be to imagine that new students, digital the area of business and business-related subjects. guides to resource allocation and take a long term view JOIN THE SOCIETY OF PANMURE HOUSE Details natives since kindergarten, might even prefer to on how you can sign up for all the news and activities at At midnight on July 31st we went through the legal of private and public investments, to support inclusive GOOD be educated remotely. Yet, digital solutions bring Panmure House, plus an opportunity to buy a tartan scarf. formalities to merge the distance-learning activities economic growth and prosperity for all.’ their own carbon challenges with some estimates ____ p15 of the Edinburgh Business School with all the The Panmure House Declaration was the first that the worldwide web is on a par with the aviation mainstream business education activities of Heriot- major pronouncement from Adam Smith’s home REVERED, REVIVED AND REVITALISED A stellar industry as a source of emissions. A completely international gathering of historians and leading economic Watt University, and formed a new, much larger, since his death in 1790; I believe that it sets out a ideas new way of thinking would be entailed in getting thinkers gather for the first New Enlightenment conference in Edinburgh Business School. clear vision first espoused by Smith, and still highly COME FROM THE academic staff to design a learning experience Edinburgh. ____ p16 I have written in more detail about the new relevant in a modern 21st century context. that was educationally effective yet ecologically Business School and its mission and purpose on p13, Panmure House was in constant use over the WHAT’S ON MY READING LIST? Graham Watson, a sustainable. but in summary we can all celebrate the new dawn summer as it welcomed visitors to the Edinburgh Member of the Court of Heriot-Watt University, reveals some of How then, do business leaders in every sector of business education and research at Heriot-Watt Festival Fringe and staged no fewer than three the books that have influenced his leadership style. ____ p25 strangest places of the economy create the circumstances in which University. As a University that was born in the place different shows, sometimes all on the same day. ALL FIRED UP AND READY TO GO Dr Jens Ullrich, a carbon neutral solutions can emerge? where science and business meet, 200 years ago, our John Yule’s play Adam Smith: The Invisible Hand, DBA from Edinburgh Business School, examines the ethical a play on words. Management matters because There are three things that help with delivering heritage has always been rooted in those two areas. was reprised from 2018, we ran a hugely successful compass at the heart of Health and Safety managers in PROFESSOR ROBERT MACINTOSH, whether you are producing a physical product, new radical change, rapidly. The first is to engage Nowhere was this more evident than in July when public debate each day at 2pm, chaired by financial European fire-fighting services . ____ p26 Head of School of Social Sciences; openly and widely with the whole organisation, an Adam Smith scholar, Professor David Teece from commentator Merryn Somerset Webb and Heriot-Watt University, says knowledge such as world-leading research or even ECONOMICS WITH THE TRUTH Omar Shaikh, something as ephemeral as a customer experience, your customers, suppliers, regulators and anyone the University of California, Berkeley, convened The professional economist-comedian Dominic Frisby managing director of The Global Ethical Finance Initiative, says leadership in the low-carbon the doing of things has to be organised. Leadership else you can think of. Good ideas come from New Enlightenment: Reshaping Capitalism and the in relay, and Dominic also performed his ‘Father of contemporary ethical financiers must remember Adam Smith economy requires much more open matters more because it involves shaping the the strangest of places and engaged staff are Global Order in a Neo-Mercantilist World at Panmure the Fringe’ lecture on how Adam Smith foresaw the and the Rev Henry Duncan as moral pioneers. ____ p31 and wider engagement to ensure a House. This once-in-a -lifetime event that gathered success of the Edinburgh Fringe itself. processes of organising and managing. Leadership more inclined to help you follow through with Dr Graham radical change in behaviour. scholars from across the globe is featured strongly in We also look forward to launching The Society of MINDFULNESS AS A CHINESE REMEDY gets really challenging when we face problems new ways of working if they’ve had a hand in Norris, a DBA from Edinburgh Business School, examines how this issue, and I encourage you to read and reflect on Panmure House, which gives members the chance we’ve never come across before. Producing an shaping the solution. The second is to simplify Chinese nationals have coped with the rapid pace of change in your messaging. A few simple rules that convey the major world issues that we discussed at the time. to be invited to select gatherings at the house and Asia. ____ p32 he received wisdom is that in times of organised response in these circumstances is a At its conclusion, the participants made a declaration to receive this magazine regularly. Please do get in T change, leadership matters more than challenge. In most businesses we know how to “you can do anything you want so long as it does Oriam, Scotland’s national sports to show that the work of Kirkcaldy-born Adam Smith touch if you would like to join us. For more details INFOGRAPHIC management. Even a passing familiarity with organise production, even if we could do so a little X or doesn’t do Y” are much more amenable to performance centre, in numbers. ____ p35 in his twin masterpieces, The Wealth of Nations see p15. our immersive, rolling news coverage suggests more efficiently. But how to produce in ways which creative, localised solutions than a lengthy set and The Theory of Moral Sentiments, still resonates that we are experiencing a period of significant are sustainable represents a new and evolving type of corporate edicts. Third, make it obvious that powerfully in a world where the voices of reason and political and economic turmoil.
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