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Visiting Professors' Scheme Visiting Professors in Sustainable Wealth Creation
The financial crisis of 2008/09 clearly demonstrated the vulnerability of economies heavily reliant upon the service sector. In 2009, 74% of UK GDP was derived from the service sector in comparison to the wealth creating industries of manufacturing and financial services which each accounted for 12%. The impact on the UK was consequently particularly severe and prolonged. Since late 2009, policy makers have been asserting that the UK needs to trade its way out of the poor economic situation it has found itself in, which is very much the view of the Academy, who would like to see the UK move to a more balanced economy with hi tech industry and manufacturing increasing their share of GDP. In order to achieve this however it needs the support of the financial sector; finance is the lifeblood of manufacturing and without funding products go unmade and innovation and entrepreneurial endevour lack the resources needed to prosper. In order to achieve this step change, the UK needs to educate its future business leaders of the importance of a balanced economy and the pivotal role of its wealth creating industries particularly hi tec manufacturing to achieve a sustainable economy. This was the rationale used to develop the Visiting Professors in Sustainable Wealth Creation model. In a break from traditional VP schemes, the post was tenured at a business school with undergraduate business and MBA students being the primary audience. A pilot post was launched in October 2011 at the Nottingham Business School and generously funded by the LCCI Commercial Education Trust. Scheme manager: Dr Mark Bambury
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Updated April 2013 |
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