DEVELOPING SUSTAINABLE LEADERSHIP SHARING INFORMATION ON PROGRESS REPORT 2018 RTU RIGA BUSINESS SCHOOL

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1 DEVELOPING SUSTAINABLE LEADERSHIP SHARING INFORMATION ON PROGRESS REPORT 2018 RTU RIGA BUSINESS SCHOOL

2 2 Table of contents Introduction 3 Principle 1: Purpose 3 Principle 2: Values 1 Principle 3: Method 4 Principle 4: Research 6 Principle 5: Partnership 7 Principle 6: Dialogue 9

3 3 Introduction Riga Business School is located in Riga - the capital of Latvia. It is established in 1991 in cooperation with the State University of New York at Buffalo (USA), and the University of Ottawa (Canada). Riga Business School (RBS) is a management education institution within Riga Technical University (RTU). RBS offers not only bachelor s degree (BBA), but also studies in master s programs, such as Masters of Business Administration (MBA) which they implemented a long time before BBA, therefore these study programs are already recognized not only locally, but also internationally. In 2004 RBS received a CEEMAN IQA (International Quality Accreditation) accreditation. Further in July 2007, EducationUSA information center joined RTU Riga Business School. This center is the only U.S. Governmental organisation located in Latvia, which provides information about living and studying options in North-America and offers free access to all the study materials needed for passing the international tests. Moreover, in 2011, RBS received a CEEMAN IQA re-accreditation. RBS ensures a high quality and modern learning approach to current and future leaders/managers. These study programs are based on North-American standards of learning methods, such as business situation analysis - case studies, a lot of teamwork and active discussions. The university uses the latest textbooks and modern teaching resources, as well as practical business experience of local and foreign lecturers. Our students take the opportunities, which occur from RBS international cooperation with USA and Canada, as well as the broad students and alumni network. RTU Rigas Business School prepares specialists who can successfully work in a changing business environment: more than 70% of RBS students and graduates take leading positions in Latvia and abroad.

4 Principle 1: Purpose We will develop the capabilities of students to be future generators of sustainable value for business and society at large and to work for an inclusive and sustainable global economy. RBS Mission The mission of Riga Business School is to educate managers and build leaders who create sustainable prosperity in internationally competitive managers whose skills will promote, encourage and foster regional economic development. RBS Strategy RTU Riga Business School is the number one destination for management education in the Baltics. RBS strategic direction is recommended by the management team and approved by the RBS Advisory Board. The strategy largely emerges from the Mission and is formed during regular the Baltic region. We do this by fostering an environment in which high potential individuals are challenged, inspired and engaged through interactive learning in the world s top management practices. RBS Vision In partnership with business, government, international partners and the local community, RBS is committed to the vision of making Latvia and Riga the economic intersection of the region through education and training of consultations with a range of stakeholders. The strategic direction of the school is reviewed every year by the Council and the Advisory Board, which also approves the targets for the upcoming year.

5 Principle 2: Values We will incorporate into our academic activities and curricula the values of global social responsibility as portrayed in international initiatives such as the UN Global Compact. Values serve as guiding principles for all initiatives at RBS, therefore clearly defined values allow RBS to guide itself towards achievement and greatness. Riga Business School values are as follows: Excellence: RBS values development, improvement and excellence in all that it does. Integrity: RBS values high standards of academics and research integrity as well as honesty and ethical conduct. Environment: RBS values the existence of a productive, encouraging and safe environment for studying, teaching and research and an infrastructure that supports provisions of academic and research excellence. Community: RBS values the partnership with peer institutions, business, government and the community and their commitment to regional economic development. People: RBS values each student, faculty and staff member. Each person within RBS is treated with care, respect and empathy. RBS values opportunity for growth, recognition and reward. These five main values drive RBS students towards personal development and greatness. And for the university itself, to stand out from all other business universities in Latvia and abroad, RBS also offers its students educational experience through various unique courses. These subjects differ from all other basic business school courses with the extraordinary content and study approach.

6 2 Art General:: The course equips students with knowledge and skills appropriate to understand, analyze, discuss and apply art even if remotely for commercial or non-commercial practices. The students are introduced to innovative art business models, including various online initiatives starting from clothing lines and ending with film production, book publishing and interior design. The aim of the course is achieve that students through case studies of successful arts businesses and initiatives, the students will be able to learn the best practices for managing arts-related projects and establishing their own business practices in future. US History: The course introduces the students to the various facets of pluralistic American society such as race, class, and gender by examining the major works in American literature. Particular attention is paid to the relationship between these literary works and American history. The course objectives: 1) To obtain complex understanding of American values through history and literature. 2) To engage in informed discussion on such social issues as gender and class. 3) To conduct historicized, contextualized reading of a text, an artifact, or a phenomenon. 4) To foster critical thinking and develop academic writing. Selling & Sales Management: This course extends the student s understanding of how to achieve successful sales, revenues and the impact of achieving this as part of the company s overall vision. The students learn through traditional classroom methodologies as well as through a real-life business sales sales management project directed by the instructors. The goal of the Selling & Sales Management course is to examine the key elements of an effective selling and sales management process from both theoretical and practical viewpoints. The course is organized in five consecutive units: Sales perspective, Sales environment, Selling techniques, Sales management and Sales control.

7 3 Start-Up Lab:: Many students come to Riga Business School with ideas for businesses and a passion to start their own for profit or social impact ventures. With this course we aim to further motivate students to develop new employment opportunities and facilitate their activities throughout the venture creation process. We strongly believe that the course is also valuable for students who are not necessarily aiming to run their own businesses. The course grows entrepreneurially minded students. This means developing customer focus, stimulating creativity, and developing problem solving capabilities. It also boosts students abilities to make sound decisions and to take ownership of the decisions they make and execute. In addition, the disciplines of business strategy, marketing, management, finance, research and operations are tied together in a practical and applied way. The course shows our belief that learning does not end when students leave the classroom.

8 4 Principle 3: Method We will create educational frameworks, materials, processes and environments that enable effective learning experiences for responsible leadership. Every year Riga Business School is trying to implement new educational frameworks and processes to ensure the best quality of business and leadership education. Therefore, in 2018 RBS has improved the admission process by implementing an additional challenge called Silicon Valley Challenge to find the best and most motivated students and help them reach their goals. Also, in addition to the regular BBA mentorship program, this year RBS has made also an RBS Alumni mentorship program to unite our community and gain even more experience. Silicon Valley Challenge: The regular admission process for BBA program includes review of students secondary education diploma and transcript, extra-curricular activities, personal achievements and english proficiency by taking an international language exam (TOEFL or IELTS). In addition, this year in order to have a better evaluation of the applicants to the Bachelor of Business Administration, starting from 2018 RBS will be running a Silicon Valley type of recruitment process, namely the Silicon Valley Challenge. RBS is looking for candidates who have the potential to develop during their study years the following skills: IQ, Honesty, Leadership, Team building, Curiosity, Cultural awareness, Energy level, Social responsibility.

9 5 RBS Alumni Mentorship program:: The mission of this program is to accelerate personal and professional growth of each member of RBS community. It is a one year long program starting in January that matches a student's or a recent graduate`s skills, interests and a particular goal with an experienced RBS alumnus. Program includes development oriented workshop at the beginning of each month (topics on values, networking, teamwork, problem solving, etc.), mentoring meetings at least once a month between each mentoring pairs, and a weekend long camp for mentees to reach those set goals even faster in the middle of the program. Participants are provided with different tools for each mentoring pairs, like introductory session on how to be in a mentoring relationship? ; supervision sessions for mentors, event lists, resources, etc. There appears several benefits for: Mentors Develop leadership skills Gain millenials perspective Be up-to-date with 21st century business practices Gain expertise and practice in mentoring and coaching Catalyze the young generations` competencies in business environment Contribute to the RBS Alumni community Mentees Gain C-suite generations` perspective Recognize personal values and achieve distinct goals Gain exceptional networking skills Grow academic and social confidence Realize the full potential of RBS Alumni community Get last push to make the first step

10 6 Principle 4: Research We will engage in conceptual and empirical research that advances our understanding about the role, dynamics, and impact of corporations in the creation of sustainable social, environmental and economic value. At RBS we encourage and engage students in conceptual and empirical research that advances the understanding about the role, dynamics, and impact of corporations in the creation of sustainable social, environmental and economic value. Students are given access to many databases (Scopus, ScienceDirect, Wiley, EbscoHost, Amadeus), and are encouraged to use them in their daily learning process. As well as E- books are provided for students in every subject that they take on. Along with that some publications from the faculty have been published and are accessible for the students in the library. Another great thing is that the best Bachelor and Master thesis are accessible for students to understand what it takes to write a great thesis. Bachelor Thesis Challenge:: In 2018, for the first time RTU Riga Business School in cooperation with Lattelecom hosted "global" public defense of Bachelor Thesis "RBS Bachelor Thesis Challenge 2018". The graduating students with the highest average grades were invited to present their work on the use of big data in consumer product bundling, employer branding and corporate image, optimization of production process and robotic process automation, piracy of films and TV series, regulation of virtual currencies, use of design thinking in the finance industry, and strategic cooperation between companies and NGO in providing social services. Students were doing their research in cooperation with different companies, such as Lattelecom, Circle K, Deloitte, Elva Baltic, Karavela Ltd., PlayGineering Systems and many others. They represented good examples of synergy between different industries and higher education.

11 7 The aim of this challenge is to motivate students to think outside the box and to do their best research. At the end, student with the best Thesis receives an award from Lattelecom. RBS is planning to organize and develop this event further in future. Principle 5: Partnership We will interact with managers of business corporations to extend our knowledge of their challenges in meeting social and environmental responsibilities and to explore jointly effective approaches to meeting these challenges. RBS Facility: At Riga Business School we offer companies to rent out spaces in our school for hostings, hearings, meetings and conferences. The entrepreneurial spirit of the companies is nourished by the proximity with researchers, students, business promoters and other entrepreneurial companies. By opening doors to these entrepreneurs and other high status people and well established personalities, an interesting platform has been created for developing an even stronger and larger relation to the local corporate community. Go Beyond: Creating Honest Leaders: The main thing to look at in solving a problem is communication, so Riga Business School takes part in Go Beyond program, which takes communication to a completely new level. The Go Beyond program helps students to acquire their dreams or at least express them and

12 8 to help these young people to understand that it is possible to achieve them an that they are not alone on the road to achieving them. Thus a monthly coaching program is designed where students can participate in in individual coaching, group coaching and on the different projects participants are working on. As well workshops, open guest lectures, meetings with Go Beyond board and informal activities are organized. The program helps in development of leadership and that is one of the most relevant subject in creating a sustainable and honest environment to prepare the young entrepreneurs to the business world. Networking Dinner: Every year the Students Union of RBS organizes networking events in order to help students learn from business leaders, communicate with them and possibly make connections for the future. However, not only students benefit from this event, but also the business leaders, since they make connections with students, who are success-oriented and motivated to improve and learn using the best ethical methods. RBS puts significant emphasis on RBS Alumni when organizing this event. We are inviting our Alumnus, as it is important for us to

13 9 build a trustworthy relationship between students and Alumni. This year, on 5th of April, number of ambitious students and inspiring business leaders gathered in the restaurant Klīversala to encourage each other moving towards future opportunities. Taking into account that Riga Business School students and Alumni share similar aspirations, this year s theme Connecting the Dots was chosen to establish valuable relationships and business contacts for our future growth. The guests not only enjoyed a wonderful dinner, but observed knowledge from the two speakers: CEO of IPAS Indexo Mr. Toms Kreicbergs and COO of iphone Photography School Mr. Uģis Balmaks. Principle 6: Dialogue We will create educational frameworks, materials, processes and environments that enable effective learning experiences for responsible leadership. The matter of social responsibility is quite high at RBS, and we can truly say that we are the innovators of making the social responsibility a matter of facts and not just words. By that it is worth mentioning the Silicon Valley Challenge that students now take on to get accepted in RBS, the Competitiveness series, the Business and Talent Forum, the volunteering work all of the students must do every year, the notable and active participation in organizations such as Go Beyond and Junior achievement, the involvement in PRME Poverty working group and the value-based leadership program (LDP) in the Executive MBA. All of the hard work and participation in junior achievement leads to new business people searching on internet, investigating for starting materials in order to find out what they need. Additionally a dialog is formed with Foreign Investor Council in Latvia (FICIL), where the work of FICIL is supported by RBS. Also with Business environments such as American and Norway Chambers of Commerce, and Latvian Employer Confederation or LDDK, where the Rig Technical University is in but Riga Business School represents itself separately.

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