Which business schools stand out in the field of Corporate Social Responsibility (CSR)? ChooseMyCompany published its HappyIndex® AtSchool CSR Ranking which studies the CSR impact and the integration of sustainable development in the strategy of the schools. Our school has achieved 4th place in this ranking of French business schools.
TBS EDUCATION IS NUMBER FOUR AMONG BUSINESS SCHOOLS
Our school became a mission-driven company in 2021. Our vision is now enshrined in our charter and reflects our social, societal, and environmental commitments to a more sustainable and responsible economy that underpins a positive society.
“Through research with societal impact, TBS Education trains a diversity of open-minded actors who will be able to contribute to a responsible and sustainable economy within their own organizations.” – TBS Education’s vision
Taking fourth place in the HappyIndex® AtSchool CSR ranking is a strong endorsement of our school’s commitment to these issues.
A RANKING BASED ON STUDENTS’ OPINIONS
Of the 20 questions in the HappyIndex®AtSchool questionnaire, 7 questions deal directly with CSR issues and cover the following aspects:
Students are environmentally aware
The school is committed to a green approach
Societal and environmental issues are integrated into the teaching
In my school, behavior is exemplary
The school reflects the diversity of the society in which we live
The school seeks to develop a network of partner companies that wish to have a positive impact on the environment and/or society
The school prepares students to have a positive impact on the world of tomorrow
This special CSR ranking focused on scoring these 7 questions to create a specific index.
This article delves into the intriguing dynamics of how information asymmetry impacts task allocation between a manufacturer and its supplier.
The authors specifically focus on scenarios where tasks exhibit horizontal differentiation, and the comparative edge in terms of marginal costs fluctuates throughout the production process. Our findings illustrate that the manufacturer tends to excessively outsource tasks to a generalist supplier, while not leveraging enough from a specialist supplier based on the efficiency spectrum.
The underlying driver of these patterns lies in the presence of balancing incentives. Interestingly, when the manufacturer’s internal costs are acceptably low, it opts to offload some of its high-performing tasks while keeping the underperforming ones in-house. These dual distortions occur simultaneously, thereby influencing the contract offered to the generalist supplier.
The webinar will take place on Tuesday 28 March 17:00-18:00 Paris time and the moderator will be David Stolin, Professor of Finance at TBS Education.
The book, whose French edition was published last month, has been featured in numerous media outlets, including The Economist and the Financial Times. The one-hour webinar will be in English and will consist of a presentation by Professor Edmans followed by Q&A. Webinar participants will be able to ask questions through the chat function. Anyone interested in how companies can serve both society and their investors is welcome!
The report in its second year looks at future readiness pathways on attracting and cultivating talent that will drive digital transformation and sustainable strategies within organisations to boost business productivity and organisational resilience.
The World Economic Forum hopes to make use of the insights generated by this report to provide assistance to SMEs and mid-sized companies on their journey to becoming future-ready.
Soumyadeb Chowdhury representing TBS Education participated in a panel discussion and facilitated a workshop at the forum to co-create knowledge with the Business Champions and practitioners. The panel discussion and workshop unearthed successful and effective strategies to enhance sustainability and digital initiatives within organisations without undermining the role of employees in the evolving and uncertain business environment.
Based on the research conducted in project collaborations between Professor Prasanta Dey Aston University and TBS Education, and funded by various research councils and funding bodies, the report provides tangible recommendations that will help SMEs and mid-sized organisations in their green transition as well as systematic digital transformation in this latest second 2022 edition.
TBS Education, Center of Excellence CSR and Sustainable Development, Soumyadeb Chowdhury and Dean of Research Samuel Fosso Wamba will continue to further develop and evolve this research to include emerging themes such water footprint, sustainable resilience, disruptive sustainability, risk and resilience, supply chain diligence Industry 5.0, employee-centric low carbon practices, emerging technology and wellbeing, by extending multi-stakeholder, transdisciplinary and international collaborations.
Our school has been ranked seventh out of 58 for its commitment to the ecological transition. The accolade came in the second edition of ChangeNOW/Les Echos START 2022 ranking for Corporate Social Responsibility.
“Through research with a societal impact, TBS Education trains diverse, open and enlightened learners, who will contribute to the development of a responsible and sustainable economy within their organizations.”
— TBS Education’s vision
Our school became a mission-driven company in 2021. Our vision is now enshrined in our charter and reflects our social, societal, and environmental commitments to a more sustainable and responsible economy that underpins a positive society.
With a total of 112 points out of 161, our school was ranked 1st in 2 categories: alumni network and the institution’s strategy and exemplary nature. This is a significant recognition of the efforts made in recent years in terms of ecological and social transition.
The 6 themes of the ranking:
Alumni network:
TBS Education: 1st with 12 points (out of 12)
The institution’s strategy and exemplary character:
SURVEY: STUDENTS IN MASTER’S IN MANAGEMENT SCHOOLS AND UNIVERSITIES PROGRAMS IN 2022
Our school is in the top five business schools for commitment to Corporate Social Responsibility (CSR). That’s according to a survey of more than 10,000 students and recent graduates. It was conducted by Harris Interactive & Toluna with L’Etudiant and Epoka: Students in Master’s in Management Schools and Universites programs.
The schools’ performance was defined according to a global index that includes 4 criteria:
The importance of CSR in the choice of an employer
The school’s contribution to sustainable development
The school’s perception of CSR
Awareness of the humanitarian efforts made in the context of the conflict in Ukraine. This ranking is therefore a clear endorsement of our school’s commitment to ecological and societal transition.
TBS EDUCATION, A MISSION-DRIVEN COMPANY
“Through research with a societal impact, TBS Education trains diverse, open and enlightened learners, who will contribute to the development of a responsible and sustainable economy within their organizations.”
— TBS Education’s vision
Our school became a mission-driven company in 2021. Our vision is now enshrined in our charter and reflects our social, societal, and environmental commitments to a more sustainable and responsible economy that underpins a positive society.
OUR MASTER’S IN MANAGEMENT PROGRAM IN TOP 10 IN TERMS OF DIVERSITY
Our Master’s in Management program is ranked 67th in the prestigious QS Business Masters Rankings 2023. It is also among the 147 best business schools worldwide, and 10th in terms of diversity. TBS Education wishes to reinforce its international openness by considering environmental issues, and aims to become an even more inclusive school in terms of social openness and disability.
“In addition to the 5-place rise of the Master’s in Management program in this international ranking, I am particularly proud to be in the world’s top 10 on this diversity criterion. This reflects both the gender balance in our classrooms and the great diversity of nationalities among the professors and students who work together in our campuses in Toulouse, Barcelona, Paris and Casablanca.” – Anne Rivière – Director of the Master’s in Management and MSc programs
The objective of this event is to help students discover how companies incorporate social and environmental issues into their organization and decision-making.
The Finance Crowd Analysis Project is offering an unrivaled meta-scientific view in empirical Finance. 164 research teams worked on this project, an exceptional number in this field. It involved researchers from 207 institutions and 34 countries including central bank economists.
2 TBS Education associate professors involved in #fincap
The first crowd-sourced empirical paper in Economics/Finance
Have you ever wondered whether researchers using the same data set to address a unique research question would come to the same conclusions? Fincap tried to answer this complex question.
This innovative project attracted eminent researchers, including some from the most prestigious French finance department. Fincap was run by project coordinators Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Albert J. Menkveld, Sebastian Neusuess, Michael Razen, and Utz Weitzel from the Stockholm School of Economics, the University of Innsbruck, and the Vrije Universiteit Amsterdam.
Abstract
In statistics, samples are drawn from a population in a data-generating process (DGP). Standard errors measure the uncertainty in sample estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence-generating process (EGP). We claim that EGP variation across researchers adds uncertainty: non-standard errors. To study them, we let 164 teams test six hypotheses on the same sample. We find that non-standard errors are sizeable, on par with standard errors. Their size (i) co-varies only weakly with team merits, reproducibility, or peer rating, (ii) declines significantly after peer-feedback, and (iii) is underestimated by participants.
TBS Education’s Inspiring Guest project is in the spotlight for its innovative approach to teaching finance. After winning the Best Session Award at the AOM Teaching and Learning Conference and the Best Innovation Strategy Award from AMBA, it has been awarded the FMA Innovation in Teaching Award!
2021 FMA Innovation in Teaching Award
The Financial Management Association International‘s (FMA) Innovation in Teaching Award was created to recognize inspiring educators, improve the quality and relevance of education in finance and spread successful innovative practices. This international competition is open to any educator who teaches undergraduate or graduate students in finance.
The finalists are selected by a committee based on 3 criterias:
Innovation
Broad transferability of the teaching technique in terms of resources and instructor skills/connections
Measurable impact on students, institutions of higher education, and the finance profession
David Stolin, co-founder of TBS Education’s Inspiring Guest program with Elie Gray, received the 1st prize for their project “Teaching finance through short humorous videos made in collaboration with a comedian”.
Injecting humor into teaching finance
TBS Education is constantly exploring unconventional teaching methods, favoring pedagogical innovation for the benefit of its students. The Business School offers a wide range of technics to acquire knowledge and prepare for the business world. By offering an innovative approach to teaching, we capture students’ attention, make the content more memorable and develop their agility.
The first edition of Inspiring Guest project is developed around educational videos staring the Californian comedian Sammy Obeid. Not only the stand-up comedian is the host of “100 Humans” on Netflix but he is also a UC Berkeley Math & Business graduate.
The success of this first edition exceeded the expectations of the pedagogical team. Fully satisfied with the outcome, the Business School is currently preparinga new exciting edition of TBS Inspiring Guest.
Gilles Lafforgue has been appointed member of the Commission on the Economy of Sustainable Development (CEDD) of the French Ministry of Ecological Transition. The title of qualified personality for his economic expertise was awarded to him in this context. Very involved in the research sphere in terms of sustainable development and recognized for his economic expertise, this professor-researcher at TBS Education had participated in the French Carbon Commission from 2017 to 2019. His involvement and the recognition of his high skills are confirmed with this new appointment.
The role of the Commission on Sustainable Development Economics
The CEDD was created on November 10, 2020 at the initiative of the French Prime Minister and the French Minister of Ecological Transition. It succeeds the Economic Council for Sustainable Development. The CEDD provides assistance to French public decision-makingon sustainable development from an economic perspective.
The mission of this consultative commission is to provide insight into the fields of the environment, energy and climate, transportation and housing. To do this, it relies on the analysis of statistical data and the comparison of economic analyses, the development and evaluation of public policies in these areas.
The objective of the “Environment” group
The professor-researcher will participate more specifically in the work of the “Environment” group, whose objective is to examine and discuss the economic accounts of the environment (monetary and physical flows relating to natural environments, natural resources, the circular economy, or the reduction of emissions and consumption).
GDPR Compliance in Light of Heavier Sanctions to Come: at Least in Theory
[su_pullquote align=”right”]By W. Gregory Voss & Hugues Bouthinon-Dumas[/su_pullquote]
Ridiculously low ceilings on administrative fines hindered the effectiveness of EU data protection law for over twenty years. US tech giants may have seen these fines as a cost of doing business. Now, over two years after the commencement of the European Union’s widely heralded General Data Protection Regulation (GDPR), the anticipated billion-euro sanctions of EU Data Protection Authorities, or ‘DPAs’, which were to have changed the paradigm, have yet to be issued.
Newspaper tribunes and Twitter posts by activists, policymakers and consumers evidence a sense of unfulfilled expectations. DPA action has not supported the theoretical basis for GDPR sanctions—that of deterrence. However, the experience to date and reactions to it inspire recommendations for DPAs and companies alike.In our working paper, EU General Data Protection Regulation Sanctions in Theory and in Practice, forthcoming in Volume 37 of the Santa Clara High Technology Law Journal later in 2020, we explore the theoretical bases for GDPR sanctions and test the reality of DPA action against those bases. We use an analysis of the various functions of sanctions (confiscation, retribution, incapacitation etc) to determine that their main objective in the GDPR context is to act as a deterrent, inciting compliance.
To achieve deterrence, sanctions must be severe enough to dissuade. This has not been the case under the GDPR as shown through an examination of actual amount of the sanctions, which is paradoxical, given the substantial increase in the potential maximum fines under the GDPR. Sanctions prior to the GDPR, with certain exceptions, were generally capped at amounts under €1 million (eg £500,000 in the UK, €100,000 in Ireland, €300,000 in Germany and €105,000 in Sweden).
Since the GDPR has applied, sanctions have ranged from €28 for Google Ireland Limited in Hungary to €50 million for Google Inc in France, far below the potential maximum fine of 4% of turnover, or approximately €5.74 billion for Google Inc. based on 2019 turnover. While the highest sanctions under the GDPR have been substantially greater than those assessed under the prior legislation, they have been far from the maximum fines allowed under the GDPR.
Nonetheless, this failure of DPAs, especially the Irish DPA responsible for overseeing most of the US Tech Giants, has not gone unnoticed, as shown by EU institutional reports on the GDPR’s first two years. Indeed, increased funding of DPAs and greater use of cooperation and consistency mechanisms are called for, highlighting the DPAs’ current lack of means. Here, we underscore the fact that, in the area of data protection, there has been perhaps too much reliance on national regulators whereas in other fields (banking regulation, credit rating agencies etc), the European Union has tended to move toward centralization of enforcement.
Despite these short-fallings, the GDPR’s beefing-up of the enforcement toolbox has allowed for actions by non-profit organizations mandated by individuals (such as La Quadrature du Net that took action against tech giants after the GDPR came into force), making it easier for individuals to bring legal proceedings against violators in the future, and an EU Directive on representative actions for the protection of consumer collective interests is in the legislative pipeline.
On the side of businesses, there has been a lack of understanding of certain key provisions of the GDPR and, as compliance theorists tell us, certain firms may be overly conservative and tend to over-comply out of too great of a fear of sanction. This seems to be the case with the GDPR’s provisions regarding data breach notifications, where unnecessary notifications have overtaxed DPAs. The one-stop-shop mechanism, which is admittedly complex, also created misunderstanding.
This mechanism allows the DPA of the main establishment in the European Union of a non-EU company to become the lead supervisory authority in procedures involving that company, which potentially could lead to companies’ forum-shopping on this basis. However, there is also a requirement that the main establishment has decision-making power with respect to the data processing to which the procedure relates. Failure to consider the latter requirement could result in companies selecting main establishments in countries where there is not such decision-making power, and thereby halt attempts at forum-shopping for a lead supervisory authority for certain processing. One example of this culminated in the French DPA (CNIL)’s largest fine so far, imposed on Google, whereas the latter argued that the Irish DPA was its lead supervisory authority.
As we explain in our paper, a lack of GDPR enforcement carries risks. Not only does it undercut the deterrent effect of the GDPR, but it also provides a tenuous basis for risk assessment by companies. While the GDPR’s first two years involved a sort of grace period when DPAs focused on educating companies and spent time painfully investigating complaints to litigation-proof their cases, some companies model their risk assessment of regulation based on enforcement histories. If there is a push for greater enforcement, which EU institutional reports would tend to foreshadow, the basis for companies’ models will be inaccurate. Furthermore, such dependence on risk evaluation ignores potential benefits to firms of increased trust and efficiency involved with expanding compliance to adopt a higher data protection compliance standard applied to customers worldwide.
Thus, we argue, not only should DPAs sanction offenders, but DPAs should sanction them severely when justified, establishing the necessary deterrence effect for EU data protection law. Moreover, DPA’s communication should in many cases be modified to stop downplaying sanctions: such communication is counterproductive to the desired effect of sanctions. Companies, on the other hand, should take efforts to understand fully the GDPR, and embrace compliance, leaving behind data protection forum-shopping as a potentially ineffective action. Furthermore, the typical securities lawyer warning that, ‘past performance is no guarantee of future results’, may be a forewarning to companies using past sanctions to create their compliance risk-assessment models that the results may not be accurate for the future.
Gregory Vossis an Associate Professor in the Human Resources Management & Business Law Department at TBS Education.
Hugues Bouthinon-Dumasis an Associate Professor in the Public and Private Policy Department at ESSEC Business School.
This article originally appeared on the Oxford Business Law Blog (OBLB) and is reproduced with permission and thanks.
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