What is the role of businesses in society?

Professor of Practice Mikko Laukkanen from the Department of Marketing at the School of Business was, as in recent years, able to welcome more than 400 new students in the Bachelor’s Programme in Business to the School of Business and the course Better Business, Better Society.

The course Better business, better society I: The company as part of society kicked off the studies of the new business students. In line with the School of Business motto ‘Better business – better society’, the aim is to develop a better society by developing better business, and this course also sought to open up the motto through practical activities.

Getting to grips with the basics of different business functions

Through the course, students developed an understanding of the role of companies in society and of how society defines the framework within which business operates. The students learnt what kinds of decisions have to be wrestled with in the business world and what responsible operations and leadership involve.

‘I feel it is a privilege that on the course I get to talk with enthusiastic young people and present them with different perspectives together with excellent guests. I warmly thank every guest who came to the course to share their knowledge and experience,’ says Mikko Laukkanen.

Six lectures on different topics in business and society

During the three-week course there was a lecture every Monday and Friday, with guests from the business world and other parts of society.

The first visitor was Panu Routila, CEO of Patria, who spoke about his own responsibility as a CEO, what kinds of decisions one may or must make as the CEO of a state-owned company. He also spoke in favour of communicating a single truth: although there are many stakeholders and many of them have differing needs, he still tells everyone only one and the same truth, while of course emphasising slightly different aspects to different audiences. ‘Life as a whole is much easier when you stick to a single truth!’

Executive in Residence Jari Eklund, who had a long career as CEO at LähiTapiola and now works at the Department of Marketing at the School of Business, talked about cooperatives and mutual companies and how they differ from other forms of company. ‘Understanding how a particular market works requires understanding what the operating logic of the different actors is.’

Executive in Residence Suzanne Innes-Stubb from the Department of Accounting and Business Law at the School of Business spoke about ethics and compliance. She explained how processes in companies steer people to act correctly. ‘In international trade, for example, it is important to remember that Finnish companies operate under Finnish legislation. Sometimes it may happen, for instance, that cooperation is not possible with an operator from another country because their rules differ from ours.’

The final week of the course started with Professor of Finance Peter Nyberg giving an introduction to finance theory. He challenged the role of companies in relation to their owners. Helsingin Sanomat journalist Marko Junkkari offered an experienced reporter’s views on the economy and leaders. 

The visit by Wärtsilä’s Executive Vice President, Marketing & Communications Anu Sirkiä concluded the course and she spoke, among other things, about the importance of trust and differentiation. Anu explained that in every function at Wärtsilä they have carried out the same exercise, intended to clarify the purpose of the company’s operations. The marketing and communications function clarified the reasons why they come in every day to do marketing and communications. ‘It was important to reiterate internally that we do not have any separate marketing and communications agenda, but only a business agenda! We are enabling profitable business for Wärtsilä.’

Later, another course that explores the School of Business motto

In the spring of their second academic year, bachelor's students in business take the course Better business, better society II: Strategic management of responsible business, which continues the exploration of the School of Business motto. After completing this course, the student understands the strategic management of responsible business in a comprehensive way and is able to apply what they have learned to real companies. On the course, students become familiar with strategic analysis, strategic choices and strategy implementation for managing responsible business. Senior University Lecturer Leena Lankoski from the Department of Management Studies is the teacher in charge for the course.