At the recently concluded 29th Annual Pacific Asian Consortium for International Business Education and Research (Paciber) Meeting, hosted and cosponsored by the Asian Institute of Management (AIM), business and academic leaders, industry experts and government officials addressed the changing landscape of globalization and capitalism in light of emerging markets in the Asia-Pacific and US regions.
This year’s host, AIM, gathered distinguished local leaders in government and business, and members of the Paciber consortium from the Philippines, the US, Japan, Canada, China, Taiwan, Malaysia, Singapore, Australia, and New Zealand.
Doris Magsaysay Ho, president and CEO of the Magsaysay Group of Cos.; and Corazon J. Soliman, former social welfare secretary , were among the forum’s distinguished guests. This year’s theme, “Capitalist versus Capitalist”, was inspired by the book Re-Imagining Capitalism published by Schulich School of Business and McKinsey and Co. The book presents the unfolding transformation of globalization and technology and how capitalism is viewed from the perspectives of business, academia, government and the entrepreneurship sector.
The panel discussions explored the varieties of capitalism. Chronicling the views from the book Re-Imagining Capitalism, Dr. Marcia Annisette, associate dean and associate professor of accounting at the Schulich School of Business, York University, underscored that capitalism models promotin collaboration between business and society are more ideal in a global economy.
Dr. Federico Macaranas, professor and executive director of the AIM Policy Center, said capitalism must not be viewed from a countrywide perspective, since capitalism in developing countries, such as the Philippines, falls into subcategories, and there are combinations of capitalism based on markets, faith and society (e.g., Islamic banking, halal market).
The Dean’s Panel highlighted the challenges of a business school in today’s environment. The deans from Paciber and other universities addressed how globalization, technology, research, pedagogy, accreditation and market or fiscal changes affect international management education.
The panel highlighted the top 10 21st-century skills by 2020, according to the World Economic Forum: Complex problem solving, critical thinking, creativity, people management, coordinating with others, emotional intelligence, judgment and decision-making, service orientation, negotiation and cognitive flexibility.
Soliman led the discussion that related business to poverty alleviation. In her presentation, Soliman shared the impact of her department’s Conditional Cash-Transfer (CCT) Program on urban and rural-poor communities. She emphasized that the success of the CCT can be attributed to the active collaboration between various government agencies and the private sector.
A key learning point Soliman mentioned was “business unusual”, which means systems and procedures must be made to work for the people.
“There are ways where you can do business unusual, where you can empower the regions,” she said.
Soliman further noted how active communication with internal and external parties was instrumental in making the program a success. “We need a coalition of change-makers…a coalition within the department or the agency and within the Cabinet. Without the support of the Cabinet, including civil society and the private sector, I don’t think it will happen.”
The Paciber Meeting is an annual forum where business school and university members exchange ideas to raise the level of business education programs so they adhere to global standards.
The AIM is the Asian pioneer in management education. Founded in 1968 by the Harvard Business School, along with leading academic institutions in the Philippines and prominent business leaders, AIM has been actively contributing to the meaningful growth of Asian enterprise and societies by developing professional, entrepreneurial and socially responsible leaders and managers. AIM offers postgraduate degree programs in business, entrepreneurship and development management and also offers various short courses and certificate programs, which have helped its 43,000 alumni reach leadership positions worldwide. It is the first school in Southeast Asia to achieve accreditation from the US-based Association to Advance Collegiate Schools of Business, which is founded on the world’s highest educational standards.