New Frontiers for Southampton Business School Building on Our Impressive Track Record in Educating Students from Around the World

October 2019 | Issue 05 News and views from Southampton Business School PROFILE

New frontiers for Southampton Business School Building on our impressive track record in educating students from around the world

SPOTLIGHT ON: RESEARCH: LATEST NEWS: Examining why people Making a global impact Honorary doctorate for value luxuries on the lives of people investment manager and businesses

1 To find out more about Southampton Business School, visit Introduction www.southampton.ac.uk/business-school

WELCOME 04FEATURE: TO PROFILE New frontiers for Southampton Business School Building on the Business School’s impressive track record 2019 has been a busy year for Southampton and culture through a brief study session. in educating students from around the world. Business School and I am proud to say our ‘Immersions’ are currently offered in Xiamen, achievements in improving the student China, and we will soon be rolling out these experience are being recognised by leading opportunities elsewhere in the world educational organisations. including India. Our MBA has achieved the ‘gold standard’ We are all busy planning for the next national IN THIS of accreditation by the Association of MBAs assessment of research quality - REF 2021 - (AMBA) once again in the summer of 2019. This and 20 new academic staff joined us at the 06 08 achievement reflects high standards in MBA end of summer to add to our research power ISSUE RESEARCH: education and follows news in 2018 that our profile. I will be updating you about this and Business School Business School had been accredited by the the Business School’s new strategy in the next A global impact entrepreneurs pitch prestigious Association to Advance Collegiate edition of this magazine. Making a difference by impacting directly Schools of Business (AACSB). Finally, students joining us this year will be the on the lives of people and businesses at Dragons’ Den around the world. In addition, our undergraduate BSc Marketing first to be taught in our exciting new Centenary Taking to the stage to showcase their degree has been ranked third best in the UK by Building, a multi-million pound investment in innovative activities at the recent Future the Complete University Guide, 2020, and we education by the University of Southampton. My Worlds Dragons’ Den event. are in the top ten for Business Management office overlooks this fantastic new development and Marketing in the 2020 Guardian and I look forward to welcoming students and University Guide. Our Marketing Professor colleagues to its facilities this autumn. Paurav Shukla researches luxury brands – read his thought-provoking analysis in this edition 10 of Profile magazine. Business School I pay tribute to all our dedicated lecturers 12 who ensure our students have world-class highlights: Professor Martin Broad SPOTLIGHT ON: opportunities during their time at the Head of Southampton Business School University of Southampton. More than Including investment manager Why do people buy ever, our undergraduates are embarking presented with Honorary Doctorate of on rewarding and challenging placements Letters, our second crypto-currency conference and a top award for the luxury brands? and internships I am delighted that our TALK TO US placements team was declared the best Business School’s Placements Office. Digital and data-driven marketing researchers are examining why people value luxuries. in the UK at this year’s National University Have you worked with Employability Awards. Southampton Business School? Share your experience with us and you Internationalisation is key here at could feature in a future edition of Profile. Southampton Business School and we have a full update on this in Profile. I want to highlight Contact: Justin Urquhart Stewart receives our initiatives that provide our students with [email protected] Honorary Doctorate of Letters 14 the chance to learn about another country STUDENT PROFILE: 15 Catching up with Awards and Honours: Akshada Rawat Our recent awards, honours and papers. MSc Digital Marketing graduate Akshada is back at home in India developing her own marketing company.

2 3 To find out more about Internationalisation in the Business School contact Feature [email protected]

Southampton Business School is building on its impressive track record in educating students from around the world by embracing the University of Southampton’s policy of Internationalisation Dr Meko So, Director of Internationalism

Professor Martin Broad, who heads the – a globally recognised think-tank for on an international experience without School, is one of the leaders of this initiative innovation and knowledge sharing –It making a longer commitment to study to strengthen the University’s global reach will work across many sectors including overseas. The programme combines in education and research and personally digital technologies and their applications lectures, visits and cultural sessions. Other visited India this year to learn more about in the financial industries, which is an summer school opportunities exist in its universities and industry and meet area of specialism within the School. Vienna, South Korea and Germany. leaders and Government officials. Southampton Business School is already Postgraduate courses are particularly popular “This was a tremendous opportunity to popular with students from across the with outstanding students from around build relationships,” explains Amarjit Singh, globe who enrol in both undergraduate the world. More than 13,000 talented men Special Advisor for India to the University of and postgraduate courses. and women applied for a place on taught Southampton, an alumnus of the University’s programmes in spring 2019, and admissions Associate Professor Dr Meko So is Director of Law School and CEO of India Business tutors had to close several Masters degrees Internationalisation. She says: “We have many Group, who accompanied the delegation. to further applicants. They included world- exciting opportunities for undergraduates leading courses in International Management, “As the world’s oldest and largest democracies, to study abroad for a whole year of their Marketing and Business Analytics and Finance. the UK and India share a natural fit for degree and we want to encourage more delivering real innovation, entrepreneurship, of them to take up these options. “Internationalisation isn’t an option, it is skills and teaching which will inspire the key to the future success of Southampton “In just one example, BSc Marketing with next generation of global leaders and our Business School and we look forward to Study Abroad students can exchange a year’s India Centre will help bring Southampton meeting the challenge,” says Professor Broad. tuition in Southampton for the equivalent time and India even closer together.” in universities in 15 countries in Europe and Martin added: “The University of further afield. They including Canada, France, Southampton’s mission is to ‘change the Greece, Hong Kong, Japan and Singapore.” world for the better’ and this is where we BSc Business Management can deliver in terms of educating the next undergraduate Ollie Brown chose generation of international future leaders and to study for a semester in Spain: demonstrating positive impact in the research we do. Delivering an international conference “This was an unbelievable opportunity to NEW FRONTIERS on the Future of Work in Coimbatore and experience a different culture and meet discussing major policy challenges for India people from all over the world. Barcelona in Delhi, Mumbai and Pondicherry were is such a friendly and vibrant city. I gained highlights of our most recent delegation visit.” so much confidence and believe this will help my future job prospects.” The Business School is deeply involved in the Amarjit Singh, Special Advisor for India FOR SOUTHAMPTON University’s new India Centre for Inclusive A new two week summer school in Xiamen to the University of Southampton BUSINESS SCHOOL Growth and Sustainable Development in China is also attracting students keen

4 5 Find out more about our research Research www.southampton.ac.uk/business-school/research A GLOBAL IMPACT Improving the accuracy of Changing the news agenda Ven is also training more than 100 small, Southampton Business School’s medium and large UMA companies to fraud detection algorithms The news sector traditionally reports prepare sustainability reports enabling research is making a difference by negative news, but research by Professor them to take action to reduce their Analytics work by researchers at Southampton Denise Baden is showing the positive negative environmental effect. impacting directly on the lives of people Business School has had a significant impact of broadcasting good news. He said: “By helping these companies, more impact on fraud detection across a range and businesses around the world. Her findings reveal that positive news information about the negative economic, of financial services and the public sector. encourages more pro-active intentions to environment and social effects will become Deputy Head of School (Research and Enterprise) Professor Collins Dr Bart Baesens, Dr Cristián Bravo and take action to make the world better and publicly available, which will spur the countries Ntim said: “At Southampton Business School, we actively seek Professor Christophe Mues have been working also has better mental health implications. to act. I am hugely grateful to Southampton to create a positive environment and offer direct support to our on a new research area of fraud analytics that These results were widely disseminated Business School’s small research grants that colleagues to draw on our inherent multidisciplinary and integrated has led to methodological advances in the through workshops at journalism colleges, have made my trips to Uganda possible.” structures across the University. We conduct cutting-edge research use of network data and machine learning. radio interviews, podcasts, practitioner that is not only rigorous enough to be published in the world- articles/blogs and research papers. The team’s research expertise has been leading academic journals, but also highly relevant in providing Delivering effective marine instrumental in helping a major UK bank adopt As a result of Denise’s research, news effective solutions to everyday problems of diverse businesses, a powerful machine learning technique that presentation has shifted towards autonomous vehicles organisations, communities and societies locally and globally.” is enabling more accurate fraud detection; more constructive journalism. Southampton Business School research Here are some of the ways that our research is having an impact: and they are informing and shaping industry She said: “The Guardian attribute their on the risk and reliability of marine fraud analytics worldwide with their book decision to launch the Glass Half Full column autonomous systems (MAS) has underpinned Fraud Analytics Using Descriptive, Predictive, and the Upside in large part to my research. the successful deployment of these and Social Network Techniques: A Guide It has also inspired constructive journalism vehicles in extreme environments. Shaping retail credit risk Embedding sustainability Healthcare workforce to Data Science for Fraud Detection. initiatives in the BBC and helped to progress Dr Mario Brito has been collaborating modelling and regulation across the hair sector planning in Sri Lanka The team has also created a network-based the Constructive Journalism Project. with a leading MAS supplier -ASV Ltd - to Research by Denise Baden, Professor Management science research at algorithm that is currently being applied by a “In addition, feedback from 23 workshops at implement risk and reliability processes Work by the Credit Scoring Group of Sustainable Business, is embedding Southampton has provided the Sri Lankan public service of a European country to screen journalism colleges across the UK, EU and US that is allowing them to develop reliable companies for potential tax fraud; and has at Southampton Business School is sustainability across the haircare sector, government with the means to support more indicated that as a result of our workshops, MAS for commercial applications. having a worldwide impact on credit developed a novel approach for automated introducing water-saving initiatives effective policy decisions for the recruitment journalism students’ awareness, knowledge and The successful knowledge transfer partnership risk modelling in retail lending. credit card transaction fraud detection. and increasing awareness of using and training of health care professionals. understanding of ethical issues in the news was (KTP) resulted in ASV Ltd investing £500,000 greener products and practices. Researchers Dr Cristián Bravo, Professor increased. They also reported greater ability in a risk and reliability department and creating For the last nine years, Sri Lankan Ministry of to present news in a more balanced manner.” Christophe Mues, Dr Bart Baesens, Dr Mee Chi Denise has launched an online Sustainable Health officials have developed computer Optimising the use of deck two new risk and reliability posts focused on So, and Dr Kasia Bijak have added to former Salon Certification and virtual salon training simulation models based on this research safety systems. These new resources have space in the ferry industry enabled the company to build arguments for work by Professor Lyn Thomas considering programme, with more than 60 salons and to inform workforce planning decisions. Sustainability reporting two major areas of impact in their research – 2,000 stylists already having gained the Deck space on ferries is being used in the safety case of their safety-critical systems. The original model for dental surgeons was a much more efficient way, thanks to and environmental impact on practice and impact on regulation. certificate. Adopting the changes identified ASV Ltd’s former Technical Director Richard developed by qualified dentist Dileep De joint research between Southampton in the Sustainable Salon Certification saves Daltry said: “The KTP provided ASV Global with Their projects have included working Silva under the supervision of Professor Business School and Mathematics. management in Uganda the average salon 286,000 litres of water, expertise we were unlikely to easily acquire closely with a major international bank and 24150 kWh of energy and £5,300 a year. Sally Brailsford from Southampton Sustainability reporting and environmental Dr Antonio Martinez-Sykora, Dr Mee Chi by providing dedicated time for our KTP a US company on the use of novel analytics Business School and resulted in significant management in Uganda is being transformed, She has also changed the industry default (Meko) So and Professor Julia Bennell, from associate with an academic subject matter methods and alternative data, as well as improvements in the population’s oral due to research by Professor Ven Tauringana, recommendation for the UK’s 55,000 the Business School have been working with expert in a niche engineering field. The KTP has providing multiple workshops and activities health and a substantial increase in dental Head of Accounting and Professor of hairdressers from shampooing twice to Dr Christine Currie and Dr Chris Bayliss, from jump started ASV Global’s risk and reliability care provision with more than one million Accounting at Southampton Business School. across the globe providing support or training just once and promoted new water-saving Mathematics, designing packing algorithms management processes which we view as people, who previously had no access to care, to practitioners. They have also created a sustainable technologies such as low-flow and developing software and simulation tools Ven’s work with the Ugandan Manufacturers’ critical to our ongoing growth and success.” software package providing an evaluation tool visiting a state dentist at least once a year. that are allowing Red Funnel to improve the Association (UMA) has recently hit the showerheads and water extraction units. Mario added: “By developing and implementing for profit-driven credit scoring models that loading of vehicles inside their ferries in such headlines in the Ugandan media, reflecting how This success of the project has led to risk and reliability processes in product design, has already had more than 16,000 downloads. Denise has carried out 60 sustainability a way that the wasted space is minimised. he is working with these companies to increase the creation of a new Human Resources the company has been able to explore a new workshop and training events to educate the environmental management awareness of The group has also been supporting several Division in the Ministry of Health headed Meko said: “By using the tool we have market, increase its product line and create a the sector about greener products and their greenhouse gas emissions. His research by Dileep, and all of Sri Lanka’s specialist developed, Red Funnel will be able to department focused on risk and reliability. I am regulatory bodies around the world, practices, and has developed a free website is already having an impact – one company higher education medical training is carry out new training for their loaders, looking forward to continuing to collaborate including the Financial Conduct Authority resource for colleges and salons to access has reduced its greenhouse gas emissions by now based on similar models. which will increase both the employees’ with ASV Global on risk and reliability.” of the UK and the Banking Authority of training materials, presentations and 568,766 tCO2e and planted over 7,000 trees; and customers’ experience. By reducing Chile. Their work has informed a review information on eco-products and suppliers. Sally, whose research underpins all these another company has cut its electricity bill by wasted space, Red Funnel will be able to into the credit card market, supported models, said: “It is amazing to think that all this 25.4 per cent and reduced water abstraction by Denise’s research has also resulted in a accommodate more vehicles on their ferries.” new legislation on data privacy in credit sustainability component being integrated came about because Dileep discovered 41 per cent; while another company has made scoring, and currently includes developing into the National Occupational Standards my research via a Google search.” a US$10,000 annual saving on energy costs. analyses of the efficient use of government which form the basis for all hairdressing funds for improving financial inclusion. qualifications delivered in the UK.

6 7 Find out more Spotlight on www.futureworlds.com

THE BUSINESS SCHOOL ENTREPRENEURS WERE:

BUSINESS SCHOOL Tom Phipps and Max Beech, MSc Project Management MSc Project Management student Tom physical space, exchange information, and was joined by computer science graduate convert their physical relationships to digital. Max to pitch their Intro app that is changing Tom said: “Intro removes the barriers to ENTREPRENEURS the way that students start relationships. It building new relationships. Whether it’s enables student-to-student connections two students wanting to add each other on or interaction with just a single click. Facebook, or a recruiter looking to onboard a Using ultrasonic wireless tech, the app prospective graduate, Intro revolutionises the PITCH AT DRAGONS’ DEN instantly exchanges social links, while ensuring way they connect online. Sharing profiles and the data remains protected and secure. contact information has never been easier.” The pair explained to the Dragons how it The pair received praise from the Dragons has the potential to radically improve the for their pitching style and clear chemistry. way companies engage with customers in a Four Business School entrepreneurs took to the stage to showcase their innovative activities at a recent Dragons’ Den event held by the Cade Abrahams, BSc Business Management University’s on-campus startup accelerator Future Worlds. Second year student and self-taught full- Cade said: “Currently, Neighbr has stack developer Cade revealed his idea been expanding across multiple sites Neighbr - a platform that provides an in Southampton through student The Business School teams were among a total of six These students have the opportunity to study entrepreneurship on-demand, sustainable and personalised accommodation providers so thousands entrepreneurs who pitched their startups at the fifth Dragons’ at all stages of their education at the Business School. solution to borrow stuff, instead of buying of students can borrow instead of buy.” Den that gives student entrepreneurs the opportunity to “For those students who see themselves as entrepreneurs in their it. Imagine you want immediate access to a The Dragons complimented Cade on his secure significant investment from millionaire investors. own right, initiatives such as Future Worlds and the Z21 Innovation huge range of items, but you live in a small presenting style and asked him to keep The students are an example of the emphasis Southampton Business Fund provide fantastic support to startups through mentors, flat and you don’t want to deal with the in touch as he grows his product. hassle of buying, storing and maintaining it. School is placing on supporting entrepreneurial activities within the School. investors and events like the annual Future Worlds Dragons’ Den.” www.neighbr.co Paul Bennett, Director of Enterprise at Southampton Business School, The Z21 Innovation Fund is an initiative founded by the University’s said: “Entrepreneurship is at the very centre of how we connect with the Web Science Institute, in collaboration with the Solent Local Ignác Szigeti, BSc Business Management global business world at Southampton Business School. Our mission Enterprise Partnership, to drive innovation into the real world Ignác is a seasoned startup enthusiast having that pursue the change you care about. Once is to deliver world-class rigorous and relevant education that will by accelerating University web startups towards investment and previously been President of the Electronics you are invested you are able to track your make a difference. To do that we have forged long-lasting, productive rapid growth and create high-tech jobs in the Solent region. and Computer Science Entrepreneurs and performance over time and see your direct bi-directional relationships with our corporate connections to ensure Future Worlds exists to help aspiring University entrepreneurs Fish on Toast. His latest venture Finestra is impact on the environment and society. Join we understand and can respond to their future business critical issues. change the world with their ideas. Future Worlds hosts inspiring based on the skills and experience he gained us and make a positive impact together!” “Our education is constantly refined using this market insight to startup events, skills workshops and investor pitching opportunities from both of these roles. Finestra is a platform Ignác is also national kayaking champion ensure our students are future-ready and capable of dealing with and accelerates ideas through one-to-one support and its that enables people to make a positive in his native Hungary and was advised new complexity and capable of moving an organisation forward. network of seasoned founders and millionaire investors. impact in the world through investing. by the Dragons to capitalise on his He said: “This is social and environmental success as a champion sportsman and investing on your mobile. Finestra provides build a sports-performance tool. personalised recommendations of companies

Emily Smith, BSc Business Innovation Emily entered the Den in the midst of her final She added: “Fast fashion companies are exams to pitch her scheme that she claims boycotting certain types of cotton and will fill a gap in the market. She discovered the becoming transparent. These are band idea whilst researching her dissertation and aid solutions, they are not facing the root believes her clothes-swapping app ZWICH cause of the overconsumption issue. will help to solve a fast-fashion crisis. The problem isn’t about what’s available to buy, it’s the throwaway culture of Emily said: “The desire to purchase novel continuously buying new garments.” clothes is extremely tough to keep up with from a financial standpoint, not to mention The Dragons advised Emily to bring a co- the impact to the environment of the founder on board to take her idea to a overconsumption of fashion. The resale Minimum Viable Product (MVP). Several of of second-hand clothes is difficult and the Dragons also offered to keep in touch often returns only a fraction of the original over the coming months. Emily has now price paid leaving you feeling deflated with received Z21 funding in order to build her barely anything to fund a new wardrobe. MVP with first release in September. “ZWICH gives you straightforward zwich.co.uk swaps so you will always get something new to wear in return.”

8 9 Find out more about Southampton Business School Highlights www.southampton.ac.uk/business-school

SOUTHAMPTON BUSINESS MAKING SENSE OF CRYPTOCURRENCY Bitcoin hit the headlines earlier this year when its value soared. It is also well-known as an ‘untraceable’ payment method favoured SCHOOL HIGHLIGHTS by online fraudsters. Are cryptocurrencies a short-lived fad or will they become part of the financial establishment? Cryptocurrency is here to stay, according co-founder and CEO of Coinfloor, Image caption: Professor Amy Fraher, Gavin to Dr Larisa Yarovaya, Deputy Head of the and Dr Shaen Corbet, Senior Lecturer Paton, General Sir Richard Barrons, Carrie GLOBAL STANDARD FIFTY YEARS OF ANALYSIS, SIMULATIONS Centre for Digital Finance at Southampton from Dublin City University, Ireland Foster, Heather Melville, Graeme Munro. Business School. She is convinced the FOR MBA AND MANAGEMENT SCIENCES Topics covered included the similarities world of finance needs to start taking it and differences of various types of RENEWED AGAIN seriously as, already, around £26billion Businesses increasingly value the opportunity to examine what they cryptocurrencies, how they connect LEADERSHIP UNDER worth of bitcoin changes hands every day*. The University of Southampton MBA do, how they do it, and come up with ways of doing it better. with the wider financial markets and their THE SPOTLIGHT has been re-accredited for another Southampton Business School has hosted links with cybercrime and criminality. Management scientists from Southampton Director of CORMSIS, Dr Christine Currie three years by the Association of its second conference on cryptocurrency A panel with extensive experience in leadership Business School work with Operational from Maths, says: “We work directly with “Southampton Business School is at the MBAs (AMBA) following a two-day bringing together 75 delegates from across several sectors answered questions Research specialists from Mathematics industry and our research is applied to real- forefront of research into cryptocurrencies visit from its peer-review team. all over the world with an interest in on a wide range of issues at the latest debate in a group dedicated to problem solving world problems, improving decision-making and we publish many research papers on researching these virtual cash systems staged at JP Morgan’s Corporate Centre in AMBA accredits programmes from the and making the most of new analytics and efficiency in an uncertain world. I am the subject,” says Larisa. “Our conference which first appeared more than ten years Bournemouth by Southampton Business top two per cent of business schools approaches and technologies. pleased our reputation has been recognised this year was attended by researchers ago. Among the keynote speakers were School’s Executive Learning Partnership in more than 70 countries worldwide. in the QS analysis and look forward to the from Europe, Asia and North America and CORMSIS – the Centre for Operational Dr Garrick Hileman, Head of Research (ELP). They included the old favourite - are next 50 years of high impact research.” we hope the next event will also attract Head of Southampton Business Research, Management Sciences and at Blockchain, co-founder of Mosaic leaders born or made and whether technology people from the financial industry.” School Professor Martin Broad said: Information Systems – has its origins in CORMSIS industrial liaison officers and research associate at the London helps or hinders in the workplace. School of Economics; Obi Nwosu, “MBA Programme Director Nuno maths and statistics departments at the Julie Hickman and Peter Becque welcome * coinmarketcap.com Chaired by General Sir Richard Barrons, the DaCamara and his colleagues have University of Southampton and, 50 years approaches from organisations with issues panel comprised British Army Sergeant Major, worked tirelessly to bring all the later, is renowned for its excellence in to explore. Gavin Paton; Director of Client Experience paperwork together and ensure we research and teaching. Email: [email protected] at PwC, Heather Melville; Strategic advisor are as prepared as possible for this Its achievements have now been recognised or [email protected] RECOGNITION FOR A LEADING and author, Carrie Foster; Managing Director visit. The re-accreditation is a tribute by the QS World University Rankings which of JP Morgan Chase, Graeme Munro and to the relevance and rigour of our MBA FINANCIAL COMMENTATOR placed the Centre 7th in the UK and 48th in Amy Fraher, Professor of Organisational programme and the professionalism the world. Behaviour and Human Resource Management of our academic colleagues.” Investment manager and financial commentator Justin Urquhart Stewart was presented with an Honorary Doctorate of Letters at at Southampton Business School. Southampton Business School’s Summer Graduation 2019. Sir Richard said a military example of the SOUTHAMPTON BUSINESS SCHOOL’S essential qualities of good leaders – ‘will, rigour, CONNECTING BUSINESS He advised the audience of newly Management (7IM) in London. He also moral courage, communication and personal PLACEMENTS TEAM WINS A graduated students and their family collaborates with the School’s Centre example’ – applied more widely in business life. LEADERS WITH BUSINESS and friends to start saving as soon as for Risk Research on research projects. NATIONAL AWARD they can for security later in life, apply In the audience were experienced leaders and Growing up in a family of professional Southampton Business School’s Placement Office is the best in the UK – SCHOOL EXPERTISE what they’ve learned at University young managers starting their careers from soldiers, Justin’s first job was in France and that’s official. The team – Libby Barton, Rob Jack and Rochelle Clark in real life and always be positive. companies and organisations including the Will Artificial Intelligence transform business and as a trainee in the wine business in – won the accolade at the 2019 National University Employability Awards RNLI, Blake Morgan, Ordnance Survey and ? “Justin is a respected analyst and a good Bordeaux, After a job in Southampton for their hard work to support students in finding an employment what do millennials really want in the workplace Stannah along with postgraduate students friend of the University of Southampton. docks, he enrolled on a law degree at the opportunity to help them put theory into practice in the workplace. and researchers from the Business School. Academics and industry explored these topical issues at the He deserves this honorary degree for all University of Southampton but decided Judges were particularly impressed with their innovative first-year latest Southampton Business School event at the University of his hard work to make financial matters to enter international corporate and trade Southampton Business School Director placement preparation module which was rated excellent by the Southampton. significantly more understandable,” finance instead and worked for Barclays of Enterprise Paul Bennett introduced the Business School undergraduates themselves. event: “This was our fifth leadership debate, This year the future of work was the theme. Director of says Professor Martin Broad, Head in Uganda and Singapore before moving and the best yet. Our panel was challenged Team Leader Rob Jack says: “We love our work with students and Enterprise Paul Bennett set the scene with an analysis of how of Southampton Business School. to London. He co-founded 7IM in 2001. employers, and it’s great to be recognised in this way. Placements have with incisive questions and replied honestly multigenerational organisations work and challenged delegates Wearing his trademark red braces, Justin a hugely positive impact on the student experience and employability, from their own experiences. It was an evening to improve how they lead and manage teams and individuals from is well-known for his appearances on so we hope this award may encourage more of our talented students to remember and the audience left with different age groups. television and radio, explaining complex to take up placements as part of their course. new insights and much to think about.” “The magnolia approach to recruitment doesn’t work anymore,” money matters. He also campaigns The ELP brings together senior executives Professor Martin Broad, Head of Southampton Business School, adds: he said. “To succeed in business you need colleagues from for better financial education and the from leading companies and organisations “Employability of our graduates is a key driver of our success and our different generations to contribute to a shared endeavour.” reform of investment structures. Placement Team excel in the distinctive offering that we provide to all within the region for a unique insight into Justin is an enthusiastic supporter of our undergraduate students. This recognition is fantastic news for all A presentation on the rise of Artificial Intelligence (AI) by modern leadership. They have ringside seats at Southampton Business School and its concerned and confirms our commitment to an education portfolio that Southampton Business School MBA-alumnus Adrian Fry and interactive sessions as inspirational business students. He funds a prize for second is relevant to the needs of our business community and society.” author and consultant Sally Bibb prompted lively debate on its leaders, academics and innovators consider positive and negative influences. year undergraduates, gives lectures and latest research on key topics such as strategy, talks on campus and hosts students at his trust and performance as well as effective investment company Seven Investment organisational change and leadership.

10 11 To find out more contact Spotlight on [email protected]

WHY DO PEOPLE BUY LUXURY BRANDS? Several researchers in Digital and Data-Driven Marketing at Southampton Head of Department, Professor Paurav Shukla, became interested in the subject Business School are examining why people value luxuries. ten years ago and his investigations have since taken him around the world.

It all started in 2006 when I was in London. Dressed smartly and the cultural continuity. For instance, seven generations of my family walking along Sloane Street, I was invited into several designer shops have done business with the same family-owned jewellery company by doormen who would probably have ignored me, had I been in over the decades. For a western luxury company, the real challenge ordinary clothes. It set me thinking about luxury brands, who buys here is, how to enter into a conversation with a consumer like that. them, why and whether they are only the preserve of the rich. Marketeers must rise to the challenge of how to target different Middle-aged well-off people are generally the target of luxury audiences, globally and our research helps answer that. brand advertisers. Their children have left home, mortgages have I argue there is a good and bad side to aspiring to luxury. While it may been paid off and they need something to spend their money prompt people to work harder to succeed and become prosperous, on. But are they buying these items to show off, for their own others may skimp on essentials, such as food, to feed their habit. pleasure or because the goods are simply better? I was surprised Young people may skip lunch to save up to buy a prized item. In the to discover there had been little research in this field. Democratic Republic of the Congo there is even a ‘society of the It’s also a complex area. While owners of Rolex watches tend to buy elegant people’ where some men and women gather in luxury clothes more half-sleeve shirts, many are also keenly aware of sensitivities and to socialise while their families live in abject poverty. And a housewife in leave their £23,000 timepieces at home when socialising with friends Mumbai told me she has flown to Dubai for the day to buy a particular and colleagues suffering because of the global financial downturn. belt in an airport shop, that won’t be on sale at home for months. Attitudes to luxury brands vary around the world. For instance, while Our research currently carried out in more than 17 countries, people would claim that ‘I don’t buy expensive goods to show off’, is revealing many such insights. We are analysing how the social events such as weddings and other parties demonstrate the purchase of luxury goods is influenced by a combination of need to keep up with others. Luxury is often deeply rooted in tradition. social factors, such as the desire to acquire and show off items, While many newly wealthy Chinese people eagerly buy Chanel and the sheer pleasure of owning a stylish watch or bag and the wish Louis Vuitton, we have questioned whether the Cultural Revolution to own an ultra- functional item such as a £7,000 bicycle. led to a cultural vacuum among the Chinese regarding the country’s Not surprisingly, our students from around the world are intrigued heritage of aesthetics, beautiful objects, clothes and jewellery leaving and join us to understand more about brands and their marketing. them to seek happiness with expensive imports. Luxury brands have not observed the same success in India, and we ascribe it to

12 13 View our postgraduate courses: To find out more about our world-class research, visit Student profile www.southampton.ac.uk/sbs-masters www.southampton.ac.uk/sbs-research

CATCHING UP WITH AWARDS,HONOURS AKSHADA RAWAT AND PAPERS

Why did you want to study at the What were the highlights of your degree? What did you get out of your A summary of some of Southampton Business School’s University of Southampton? time at Southampton? Moving away from home and living abroad was Marketing is now all about digital, new a totally new experience for me. There were Studying at the University of Southampton has most recent high-profile achievements. technologies are being developed all the time lots of international students on my course and supported me to grow into a more independent and you need a good knowledge of all the I enjoyed hearing the opinions of people from and confident person. I gained a tremendous Special Achievements Research grants latest applications to succeed in business. different cultures and work environments. amount of academic knowledge and learned how to apply it in the business world. Everyone Southampton Business School’s marketing programmes achieved New ‘Transforming Leadership’ programme to clear I had already launched my start-up business at The facilities were great, especially the library was welcoming and helped me to settle in and top-3 status in the UK in the Complete University Guide 2020. career pathways for future female leaders in the arts home in India but, as my background was that and online access to a wide range of materials. feel at home when I arrived from India and I Southampton Business School’s Business, Management Entrepreneurial leadership and diversity management of graduate in English, I felt I needed to know Southampton is a beautiful and peaceful would certainly advise potential students to and Marketing subjects have moved from 39th to 10th expertise from Southampton Business School will play a more about marketing and web analytical city. I stayed in the Mayflower Hall come here for postgraduate degree, you’ll have position in the Guardian League Table 2020 ranking. leading role in supporting and providing career pathways for techniques and learn from the professionals. future female leaders and entrepreneurs in the arts. close to the centre and only 15 minutes a great time here and won’t regret your decision. Professor Simon Wolfe has been invited to become a member of the There are still only a few universities in the world away from the University by bus. What are you doing now? Academic Board of the London Institute of Banking and Finance. Professors Mine Karatas-Ozkan and Yehuda Baruch from the Business that offer a specialist degree in digital marketing School are part of a new collaboration, led by The Point Theatre Did you take up any internships Professor Paurav Shukla has been invited to join the Academic so Southampton was an obvious choice. I’m now back home in New Delhi and in Eastleigh, that has received £585,284 funding from Arts Council and placements? Journal Guide scientific community of the Chartered ABS. developing my own marketing company England to create legacy-driven work placements for 16 talented Definitely. There are so many opportunities further using the skills and knowledge I The Centre for Digital Finance hosted the Cryptocurrency emergent women from a diverse range of backgrounds to explore at Southampton. I got involved with several learned at Southampton. We are building Research Conference 2019, including keynote addresses from new leadership and entrepreneurial career pathways in the arts. Dr Garrick Hileman (LSE), Professor Brian Lucey (Trinity College organisations both within the University and a team of marketing professionals and Improving operational research in South East Asia outside. They include social media intern posts looking to the future with confidence. Dublin), and Dr Shaen Corbet (Dublin City University). Researchers in Southampton Business School and Mathematics at the University interviewing people at all Publications have received funding from the Engineering and Physical levels, writing posts and planning events. My Sciences Research Council (EPSRC ) to work on two projects summer internship was at University Hospital Dr Marta Degl’Innocenti has published an article titled “The as part of the Global Challenges Research Fund. Southampton NHSFT where I was Human interconnections of academic research and universities’ “third mission”: Resources Recruitment Social Media Intern. Evidence from the UK” in the journal Research Policy (ABS 4**) Dr Stephan Onggo, from the Business School, and Dr Christine Currie, I was also a Marketing Intern at Shentons from Mathematics, will be working with colleagues in South East Asia to Dr Ajit Nayak has published an article titled “Non-cognitive solve operational research (OR) problems. One project - CREST-OR - will Solicitors in Winchester and a Publicity Officer microfoundations: Understanding dynamic capabilities as build capacity in OR research in Vietnam, Cambodia, Laos and Indonesia, for the Institute of Electrical and Electronic idiosyncratically refined sensitivities and predispositions” in while the second project - Relief-OpS – will research disaster management Engineers in Southampton. It was amazing to the journal Academy of Management Review (ABS 4**) (particularly preparedness and responsiveness) in Indonesia. put the skills I’d learned in the lecture theatre into practice in real-world situations. Dr Bruce Hearn has published an article titled “Founder retention as Stephan and Christine are both members of Southampton’s CEO at IPO in emerging economies: The role of private equity owners Centre for Operational Research, Management Sciences I seized the chance to take part in other and national institutions” in the Journal of Business Venturing (ABS 4*) and Information Systems (CORMSIS). activities. I wrote for the student newspaper Dr Toni Martinez-Sykora has published an article titled “The Wessex Scene and won the ‘Best New Writer’ Steiner Travelling Salesman Problem and its extensions” in the Digitally transforming courier deliveries and award and was Assistant Producer for two European Journal of Operational Research (ABS 4*) collections in the gig-economy plays. Student competitions were great fun, Dr Antonio Martinez-Sykoro, Southampton colleague Professor Tom Dr Vanessa Sung, Dr Tiejun Ma and Emeritus Professor Johnnie I won the Forecasting the Future pitching Cherret, from Engineering, and two researchers from Lancaster University Johnson have co-authored an article titled “To what extent can new competition, my group won first prize in web-based technology improve forecasts? Assessing the economic value have received Engineering and Physical Sciences Research Council the Entrepreneurship Summer School of information derived from Virtual Globes and its rate of diffusion in a (EPSRC) funding to create new algorithms and interaction design that Akshada Rawat, challenge and I also did well in the Dynamo financial market” in the European Journal of Operational Research (ABS 4*) optimise and empower gig economy couriers. They will match working MSc Digital Marketing 2018 Challenge with IBM UK, Catalyst Challenge preferences and personal circumstances more efficiently to work location and Business Innovation Programme. Professor Yehuda Baruch has published an article titled “Factors and availability; and look at the use of sustainable modes of transport. related to knowledge creation and career outcomes in French academia: The case of the human resource management field” in the The team will also work with industry partners Gnewt journal Academy of Management Education and Learning (ABS 4*) Cargo Ltd, Miralis Data and Transport for London.

14 15 Find out more www.southampton.ac.uk/business-school [email protected] +44 (0)2380 599340

Please recycle this publication when you have finished with it.