Financial TimesBusiness School Briefing: Financial literacy campaign and the next FT ranking

September 6, 20210

Business school updates

Hope you had a good summer and welcome to back to Business School Briefing. Today, we offer you leadership lessons and the reasons why it’s mad to use an algorithm to hire people. Written and edited by Wai Kwen Chan and Andrew Jack.

Noticeboard

On September 13, the results of the top providers of Masters in Management degrees of 2021 will be revealed. Will your school be in the league table? Can Switzerland’s St Gallen retain its top spot?

Support our campaign to boost financial knowledge

The Financial Times has launched a new charity, called FLIC, to promote financial literacy and inclusion around the world.

Learn why financial literacy is important and take a quiz to see if you are financially literate.

Take part in our hackathon

How do you measure academic output with societal impact? We are looking for business schools, publishers, data experts and others to join our “slow hackathon” to develop ways to measure research. Details here: https://www.rrbm.network/taking-action/events/ft-slow-hackathon or get in touch at respbus@ft.com.

Work and Careers roundup

At a job interview, remember to share your achievements — but not your Uber rating. Pilita Clark provides a cautionary tale on the use of an algorithmic shortcut to find good staff.

“The traditional face-to-face job interview, a mainstay of assessing job applicants for at least a century, has morphed into a gruesome tech shadow of itself.”

Phone showing Uber app
Can an Uber score tell you what job applicants are really like, in an unbiased way? © Bloomberg

Jonathan Black, director of the University of Oxford’s careers service, has caught up with people who sought his advice. Find out where they are now and whether they found his and/or FT readers’ advice valuable. One of them was Tim, who had to decide whether to take a masters in China studies to “future-proof” his career.

If you want to know why people are reluctant to be leaders, ask them. Amanda Goodall says it is better to find out what employees want from leadership, rather than forcing them to fit around corporate strategy.

Finally, read leadership lessons from Mologic’s Paul Davis, who revolutionised pregnancy testing, and his three ingredients for success.

“Leaders must inspire and motivate, while having a strong grasp of the big picture or even creating it. Managers must organise, guide and attend to the details in pursuit of the big picture. Often, excellent managers are not effective leaders.”

Andrew Hill’s column will return on September 13.

Read more stories on work and careers at: ft.com/work-careers.

Business books of the week

Can Big Tech be tamed? And can we trust those doing the taming? In two contrasting takes on the power of Amazon, Facebook, Google et al, politicians and legislators are also found sorely wanting.

Data line

The international diversity of schools taking part in the FT Masters in Management rankings has greatly increased since 2011, write Leo Cremonezi and Sam Stephens. International board and faculty members rose by eight and seven percentage points respectively.

Schools were already accepting many international students in 2011, but there has been a steady increase of overseas participants being accepted into MiM degrees over the past ten years.

Line chart of percentage of Masters in Management students, business school faculty and board members that are citizens of a country other than the one in which the school is situated.

How good is your knowledge of the news?

Answer our 10 question quiz.

Top business school reads

MoD could move UK nuclear subs abroad if Scotland breaks away The contingency plans for Trident consider the US and France if there is no long-term lease possible on navy facilities such as Faslane.

HMS Vigilant, a ballistic missile submarine, moored alongside HM Naval Base Clyde at Faslane. The Scottish National party has vowed to ban all nuclear weapons in an independent Scotland © JAMES GLOSSOP/AFP via Getty Images

WhatsApp fined €225m for not telling users how it shared data with Facebook Ireland levies one of the largest penalties for GDPR abuses after pressure from other EU countries.

Japan’s PM Yoshihide Suga to resign after failing to control Covid outbreak Tokyo stocks hit a 30-year high as investors bet the next leader will increase economic stimulus.

Japanese prime minister Yoshihide Suga replaced Shinzo Abe a year ago but struggled to gain ground in opinion polls even after Tokyo successfully staged the Olympic Games © AP

Crypto platforms need regulation to survive, says SEC boss Gary Gensler warns the $2tn industry is too big to exist outside of a ‘public policy framework’.

US withdraws from Afghanistan, bringing an end to 20-year war The final withdrawal meant President Joe Biden has delivered on his campaign promise to end America’s “longest war” — a feat that eluded his two predecessors — but not without considerable bloodshed and a complete capitulation to the Taliban.

Taliban special forces stand guard at Kabul airport after the departure of US troops
Taliban special forces stand guard at Kabul airport after the departure of US troops © AFP via Getty Images

Back issues

To view previous newsletters, go to: ft.com/bschool.

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Thank you for reading. Please send your recommendations and feedback to bschool@ft.com.

Further Reading

Human rights climb the business school curriculum Concerns including outsourcing and workers’ safety are driving corporate and academic attention.

I am a trainee teacher but wish to pursue a different path — where do I start? Your questions for our expert — and readers’ advice.

CFA exams: high fail rate sets flunkees speculating The proportion of candidates who fell short this year is even higher than usual.

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