Foreword Welcome to Issue 27 of Fifty Four Degrees. Professor Claire Leitch Dean, Lancaster University Management School FIFTY FOUR DEGREES | 5 It is all very well doing business, but what about doing good business? I do not mean making a big profit and being able to reward shareholders handsomely every year. Business goes beyond that, and so does doing good – for your organisation, your employees, and your community. I would like to think that a large number of those who work for Lancaster University Management School can see the difference, and that their work helps companies ensure they are achieving more than just a strong bottom line (though that remains an important part of any successful venture). Helping organisations to make this shift towards a broader view of good – be it in terms of results or growth – has the focus of Professor Steve Kempster’s work for many years now. He has collaborated with and guided people around the UK, showing them a different way of operating that offers wider benefits. Under Steve’s models, business operations allow people, planet and prosperity to bloom together. It has been proven to work and is a path many organisations could benefit from following. There are businesses all around the world whose operations are affected by global accounting standards. As a School, we are proud to have Professor Argyro Panaretou at the heart of shaping how financial reporting standards can contribute to better-functioning financial markets. Argyro was an external consultant for the International Financial Reporting Standards Foundation and is a member of the Academic Panel of EFRAG (formerly known as the European Financial Reporting Advisory Group). Through these roles, she ensures that the knowledge and expertise we have here in LUMS goes a long way. The same can be said of the RECIRCULATE project. While now concluded, the Lancaster-led initiative worked closely with businesses, research organisations and communities in Africa on eco-innovations for the circular water economy. That work has been covered in these pages previously, but the knock-on effects of the collaborations continue to be felt. Professors Lola Dada and Sarah Jack have been working with colleagues here in the UK and in Africa following RECIRCULATE to see how women researchers in SubSaharan Africa can take strides when it comes to making an impact with their work. These researchers are operating in societies and systems shaped by and for their male counterparts. It is no easy task to make your mark, but there are methods by which to do this. There are also ways for organisations to make it easier to improve employee health and wellbeing, Here in the UK, and elsewhere around the world, this is an important area for all businesses, but finding and implementing the most useful policies is not straightforward. Through her work, Dr Kay Greasley has drawn up a list of guidelines that companies can follow to achieve noticeable results that can benefit all concerned. There are many young people out of employment, education or training who long for the opportunity to have an employer in the first place. There is a growing focus on NEETs in government and broader society – and recent events across Europe show populations concerned for ‘lost generations’. The work of the Work Foundation is seeking ways to improve pathways for young people into work. It is an issue affecting nearly a million people in the UK aged between 18 and 24. There are suggestions for what can be done, and action needs to happen sooner rather than later. When you have perused these articles, you can also enjoy stories of Santa Claus – it is nearly that time of year – Rio, cyber security and AI, female business networks – an area where I have some expertise myself – business leaders with military experience, and how we can give our organisations human characteristics. LUMS hopes you enjoy them all and looks forward to being back in touch soon. Subscribe online at lancaster.ac.uk/fiftyfour SUBSCRIBE
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