Prepared to become a sustainable, innovative manager and leader
Professor Maria Figueroa Armijos teaches Innovation in Sustainability Systems, a specialisation in the new MSc in Entrepreneurship & Innovation curriculum. Her academic interests lie at the crossroads of entrepreneurship, business ethics and social responsibility. Her current projects include research into entrepreneurial finance, women's entrepreneurship, crowdfunding and entrepreneurship policy. She tells us all about her class.
Why this specific focus on sustainability and innovation?
Education at the intersection of business, sustainability, and innovation helps us to prepare the changemakers of the present and the future.
The exponential growth in global consumption, coupled with supply-chain shortages due to market, climate, and regulatory changes, is compounding the need to transition our business and innovation management practices in line with the closed-loop principles of a circular economy. Business strategies that promise circular systemic solutions and innovations can lead to greater resource efficiency, with annual savings estimated at USD 1 trillion by 2025 and the creation of an additional USD 4.5 trillion in economic output by 2030.
Through in-depth analysis of real, contemporary business cases and more than 20 examples of transitioning firms, in addition to a sustainable innovation pitch as a final project, this course prepares students to be business managers and leaders who can take bold, practical actions that benefit people, the planet and the bottom line in a competitive global economy.
What, in your view, are the key drivers of quality, sustainable growth?
Initiative and innovation are paramount in transforming our current production and consumption systems. Entrepreneurial actors that are willing and able to capitalise on current market opportunities are already reaping the economic benefits of their transformations and investments, while also benefiting their stakeholders, including the planet.
What is your research about?
My research interests lie at the intersection of entrepreneurship, social responsibility, and business ethics. My research provides empirical evidence to inform policy design and implementation, aimed at supporting entrepreneurs and promoting sustainable regional economic development.
Entrepreneurship and innovation are increasingly recognised as critical tools for regional, national, and international development. An interdisciplinary approach to the field offers better potential for collaboration and promises a more effective linkage between scholarly evidence and management practices and policymaking.
Is this class just theoretical?
The class is designed to link theory and practice in every session. The first part of the class is dedicated to presentations on current innovations in sustainability systems (that is, examples of firms proposing innovative solutions to transform production or consumption systems) and the discussion that ensues. The second part of the class is dedicated to getting students acquainted with theory and the language currently used in sustainability in business (for example, circularity, carbon neutrality, climate neutrality, life-cycle assessment, etc.). Lastly, the third part of the class is dedicated to breaking down a contemporary business case that ties together the theory reviewed in the session and how it looks in practice. During this last portion of the class, students work in groups through guided discussion. The goal of this educational approach is to send students home at the end of each session with a thorough and integral understanding of the topics discussed, so that they can implement them right away in their own business models and entrepreneurial endeavours.
What is the most surprising sustainable innovation pitch you have had?
A group of students once built a yurt (also known as a ger) following ancient Mongolian nomadic practices, made entirely of recyclable, locally accessible materials. The yurt was assembled and disassembled in class and the students walked us through the cultural heritage accompanying the practice, while also emphasising the importance of using locally sourced materials that are both durable and recyclable. We discovered that a hut of this kind could hold great appeal for those who love camping and the outdoors, but want to be more comfortable than in a traditional, commercial tent.
What do you expect your students to have mastered on completion of your course?
At the very least, I expect them all to become more informed about the transformative impact of innovating through sustainability practices in our business models to tackle systemic change. My ultimate goal is to look back 20 or 30 years from now and see a cadre of sustainability-minded business leaders who paved the way for more impactful, positive future generations.
