London Business School’s latest news, awards, events and programmes
World Tree Expedition: Your chance to support a World Record attempt
On 25 May, David Medawar, Senior Programme Manager, Dubai Centre, will begin a World Record attempt to become the fastest person to travel to all 195 countries in the world.
This global challenge will involve the delivery of a One World flag to each nation David visits in exchange for a rock from within its borders. An ambassador will accept the flag on behalf of the nation and offer the rock as a symbol of commitment to the One World Vision. Once the expedition is complete, the rocks will form part of display, upon which a One World tree will be planted.
22 May 2013
European Union must break out of ideological straitjacket
President of Iceland calls for honest examination of fundamental failure
The President of Iceland has called for an honest examination of the fundamental failure of political leadership, within European institutions, which has exacerbated the European economic crisis.
21 May 2013
Radical action required for recovery, according to business executives
Business chiefs discuss the future of leadership at global summit
73% of business executive say tough times call for a radical approach from leaders, according to a poll by London Business School.
The findings come as the School debates the future of leadership in the wake of the economic crisis with world-renowned leaders at its flagship event, the Global Leadership Summit.
Lynda Gratton, Professor of Management Practice in Organisational Behaviour, London Business School, will say at the Summit: “Corporations can indeed be a force for good – both with regard to the wealth creation of their activities and the way they can leverage their innovative and scaling capabilities to address the escalating global challenges of our fragile world. Yet trust in corporations is low, they are seen as short term, overly focused on shareholder value and insular in their perspective.
“In big global challenges the leaders’ personal narrative is crucial. These narratives often come from crucible experiences – moments in the lives of the leader when they are confronted with people or experiences, which have had a profound impact on the way they think about the world.”
The Summit speakers include:
• Dr Josef Ackermann, Chairman, Zurich Insurance Group; Vice-Chairman of the Foundation Board of the World Economic Forum
• Paul Polman, CEO, Unilever
• Alessandro Profumo, Chairman, Monte dei Paschi di Siena
• President Ólafur Grímsson, President of Iceland
The tenth Global Leadership Summit, will take place today in The Brewery.
It brings together business leaders who led organisations through the 2008 financial crisis and will deal with the critical questions still being asked about the leadership, corporate governance and regulatory frameworks that allowed it to happen.
Professor Sir Andrew Likierman, Dean, London Business School, says: “This platform is enabling a deeper debate about the systemic frailties of existing structures and models of leadership.
“Combining the experience of high profile decision makers with the expertise of London Business School faculty, we are discussing models of leadership that are capable of rebuilding the political, corporate, environmental and social landscape.”
20 May 2013
School team wins Blind bit of Difference competition
A London Business School team has won a competition to create employment opportunities for blind and partially-sighted people.
Jun-Woo Kim and Jihun Kim won the Blind Bit of Difference competition for their Sight to Vision idea, a global technology-based teaching service that would train someone with sight loss to teach conversational English to office workers and students via the internet.
17 May 2013
Start-up business plans seriously flawed
Why even capital backed ventures need a plan B
Most new ventures, even those with venture capital backing share one common characteristic. They fail. A leading academic who will speak at London Business School’s Global Leadership Summit, argues that the typical start-up process, largely driven by poorly conceived business plans and based on untested assumptions, is seriously flawed.
John Mullins, Associate Professor of Management Practice in Marketing and Entrepreneurship, London Business School and acclaimed author of “Getting to Plan B: Breaking Through to a Better Business Model”, says: “There is a better way to launch new ideas—without wasting years of your time and loads of investors’ money.
“This better way is about discovering a business model that really works: a Plan B which grows out of the original idea, builds on it, and once it’s in place, enables the business to grow rapidly and prosper.”
If the founders of Google, Starbucks, or PayPal had stuck to their original business plans, Dr Mullins says, we would likely never have heard of them. Instead, they made radical changes to their initial models, became household names, and delivered huge returns for their founders and investors.
“It’s an uncomfortable fact”, says Dr Mullins, “But developing a better business is absolutely achievable, provided entrepreneurs quantitatively address five crucial elements.”
Five ways to transform your business model
• Revenue Model: Who will buy? How often? How soon? At what cost? How much money will you receive each time a customer buys? How often will they send you another cheque?
• Gross Margin Model: How much of your revenue will be left after you have paid the direct costs of what you have sold?
• Operating Model: Other than the cost of the goods or services you have sold, what else must you spend money on to keep the lights on?
• Working Capital Model: How early can you encourage your customers to pay? Do you have to tie up money in lots of inventory waiting for customers to buy? Can you pay your suppliers later, after the customer has paid?
• Investment Model: How much cash must you spend up front before enough customers give you enough business to cover your costs?
Dr Mullins will speak on business model innovation at London Business School’s Global Leadership Summit in collaboration with Deloitte, alongside:
• Michael Elias, Managing Director, Kennet Partners
• Jimmy Maymann, Chief Executive Officer, Huffington Post Media Group
• Dale Murray, Angel Investor; Non-Executive Director, UKTI
15 May 2013