ABS Response to the Publication of the Witty Review
Professor Angus Laing, Chair of the ABS and Dean of Business and Economics at Loughborough University has today strongly welcomed the endorsement in the final report of the Witty Review of its work with Lord Young (Economic Advisor to the Prime Minister) to develop a Small Business Charter and has called for business schools to do more to meet the ambitions of students and business and drive forward the development of the UK Plc and the economy at large.
Commenting on the publication of the report Professor Laing said:
“Despite the unquestionable success of the UK business school community, it is evident that the full potential of business schools to maximise innovation and stimulate business growth has yet to be fully realised.
That there are examples of outstanding practice is indisputable. What is equally clear is that engagement of individual business schools with this agenda both at local and national level has been variable. Given the prevailing performance metrics and the competing demands on, or opportunities for, business schools such variability is not surprising. We need to position business schools as ‘translators of invention’, as agents of innovation and growth in the business and policy communities.
This unfolding debate, in which the ABS is playing a central role, has as a result of engaging with policy makers, both highlighted the potential contribution of business schools to economic recovery and generate new opportunities for business schools within the post-crisis economic and policy environment.
We welcome the Witty Review's recognition of the vital role that properly incentivised and rewarded business schools can play in the development of the UK economy and look forward to continuing our work with Lord Young, BIS and the business school community to turn this shared vision into a reality."
With over 130 members the ABS has a pivotal role to play in being the lynch pin between academia and business.