Foreword Subscribe online at lancaster.ac.uk/fiftyfour SUBSCRIBE Over recent years, there has been an increasing recognition of the importance of universities and business and management schools like our own in making a practical and noticeable impact on the world around us and at large. I am not thinking solely about the role we have as employers and educators, providing livelihoods and good education, but rather about the work that goes on – sometimes behind closed doors, but progressively more out in the open with business, industry and society – with our researchers. Lancaster University Management School has a proud history of working with organisations big and small, on our doorstep here in Lancashire and further afield around the globe, to affect positive change. Whether that occurs in business operations, in widespread accounting or financial practice, in management and leadership approaches, or in any number of other ways, we can see clearly the role which LUMS academics have had in bringing about shifts. Ellie Hamilton has seen this more than most. Ellie is now an Emerita Professor in our Department of Entrepreneurship and Strategy, where she was a valued colleague of my own for many years. Ellie herself has collaborated with businesses in our region and beyond on some of our many renowned knowledge exchange programmes, bringing her expertise on entrepreneurship to the fore. It seems only fitting, therefore, that Ellie’s most recent work – undertaken with former Lancaster colleagues Danny Soetanto and Rhiannon Pugh – looks at the changing face of entrepreneurship, how it can help regional (re)development and reduce inequalities, and the big role universities can play in that renaissance. There is much to take from Ellie’s words about the positive impact we can have and have already had on shaping mindsets and actions for great results. You can see engagement in action in the work of Andreas Schroeder, Kostas Selviaridis and Nho Quynh Do as well. They are part of a team here at Lancaster working to introduce the concept of servitization to businesses throughout the Morecambe Bay area and beyond. Their Servitization Bootcamps offer organisations a look at how they can switch to a service offering rather than providing one-off product sales. It is a fascinating concept which has already been applied by some big companies, and those taking part in the workshops are seeing change in their operations. It may take a little longer for the results of the Work Foundation’s endeavours on the effects of ill health on the workforce to be seen, but this is equally important. The thinktank held their first Work and Health Summit in London this year, attracting important figures from the employment realm, before following up with an event here in Lancaster. George Williams’ article outlines their findings, and the importance of removing health and income inequalities. Themis Pavlidis works with key figures at the Federal Reserve Bank of Dallas, and together they have produced a new method for predicting bubbles in the housing market. We have seen the effects of such bubbles globally in recent years, and Themis’s research can help us see them coming in future and protect the economy as a result. The fact that he and other members of the International Housing Observatory are working with the Federal Reserve already demonstrates the real-world application of their expertise. You can see such function in the endeavours of many of our researchers, even when it might not be obvious at first glance. Dasha Smirnow, Di Wang, and Jan Bebbington all work on various aspects of company sustainability – from how they compile reports to how they are rated for their efforts, and how they perceive the importance of such work. This lets us all see where effort needs to be concentrated to improve sustainability practice, and what aspects we need to pay attention to when it comes to understanding why organisations act the way they do. The Pentland Centre, of which all three are members – and, indeed, Jan is the Director – engages regularly with businesses and other organisations to ensure this potential for engagement becomes reality. I know the other researchers included in this edition will have real-world relevance in mind for their work as well – for instance, how we can improve seafood diets, how employers consider home educated employees, how the metaverse is governed, or how companies make green reward schemes more successful. It is clear from all this interesting and relevant work, in addition to the research of our other colleagues across the School, how we are continuing to help shape responsible business and behaviour across so many organisations. I hope you enjoy reading and take inspiration from the articles in this edition. Welcome to Issue 24 of Fifty Four Degrees. Professor Claire Leitch Executive Dean Lancaster University Management School FIFTY FOUR DEGREES | 5
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