Businesses constantly look for ways to achieve better performance, and business schools play an important role through their curricula by teaching such methods and helping budding and experienced managers find innovative paths. The author of this book, Prof. Peter Lorange, a well-accomplished expert at business and academic leadership, draws on a set of reflections from his vast experience in both fields to offer core messages which help in improving business education. The author believes that experience-based reflections tend to be both more interesting and more useful than mere chronological, biographical ones, or conceptual reviews of management dimensions without links to practice. The book helps academics, business school management, and even advanced students understand how to bring a practical focus to learning and teaching business via a holistic curriculum. The book also features a special focus on how to integrate family business perspectives to the curriculum.
Author(s): Peter Lorange
Publisher: Springer
Year: 2022
Language: English
Pages: 178
City: Cham
Preface
Acknowledgments
Contents
Part I: How Was My Vision Shaped?
1: Upbringing and Education
Early Childhood in Slemmestad
Youth in Asker
Norwegian School of Economics and Business Administration (1962–1964)
Education—General Reflections
Studies in the United States (1967–1971)
Yale (1967–1968)
Harvard Business School (HBS) (1968–1972)
Key Learnings
2: Experiences from Academia and Academic Administration
Academic Posts
IMEDE (1971–1973)
MIT’s Sloan School of Management (1973–1980)
Wharton (1980–1989)
Stockholm School of Economics (SSE) (1983–1984)
Roles in Academic Administration
MIT’s Sloan School of Management
Wharton (1985–1990)
Norwegian School of Business (BI) (1989–1993)
IMD (1993–2008)
The Transition to IMD
Business Development
Faculty Management
Succession
Family Considerations
Commandore, the Royal Norwegian Order of Merited Services (2010)
Key Learnings
3: The Role of Research
Fields of Research
Shipping
Family Business
Strategic Planning
Top Line and Bottom Line
Educational
Key Learnings
4: Influences from Family and Friends
Influences from Family Members
Influences from Friends and Colleagues
Key Learnings
Part II: The Influence of Business
5: Lorange Institute and Lorange Network
Lorange Institute (2012–2017)
Lorange Network (2017–2021)
Key Learnings
6: Family Business Strategies
S. Ugelstad Rederi (SUR)
S. Ugelstad Invest (SUI) (2009–2021)
Other Family Business Activities
Olsen and Ugelstad, Oslo (Shipowners)
A/S Sydfjell, as well as Real Estate Properties in Ulvøysund and Salmeli
Store Stabekk (Hövik, Norway)
Key Learnings
7: Board Membership and Consulting Assignments
Boards
Kvaerner (Oslo/London)
Knud I. Larsen (Copenhagen): Diversified Shipping Company
Royal Caribbean Cruise Lines (RCCL) (Miami)
Seaspan (Vancouver/Hong Kong)
ISS (Copenhagen)
Citicorp Norway/International (Oslo, London)
Copenhagen Business School
Co Co Co (Copenhagen)
IKO Strategi (Oslo)
Globalpraxis (Barcelona)
Keystone (Oslo)
Consulting
Ericsson Radio (Stockholm)
San Miguel (Manila)
Elkem (Oslo)
Borregaard (Sarpsborg)
Norsk Hydro (Oslo)
Michelin (Clermont-Ferrand, France)
Tine (and previously Øglaend, Sandnes) (Oslo)
Pechiney (Paris)
Key Learnings
Part III: Guiding Principles
8: Quality of Education, Career, Business, and Art
Educational Choices
Jobs
Business
Art
Residences
Why Live in Switzerland?
Quality and Business School Curricula
Key Learnings
9: Diversity Is Key!
Academia
Research
Curriculum Design
The Arts
Business
Sports
Key Learnings
10: The Importance of Managing Risk and Uncertainty
Due Diligence
How Much Should We Invest?
How Early Should One Invest?
Taking Profits
Key Learnings
11: Discipline and Integrity in Decision-Making
Examples of Focused Decision-Making
Targeting
Examples of Challenges to Honesty and Integrity
Value Profile
Key Learnings
Part IV: Business Skills
12: Networking: An Emerging and Ongoing Dictum
“Give More than You Take”
Examples of Network Strategies
Norwegian School of Business (BI)
Lorange Institute (LI)
Lorange Network
IMD
Marsoft
Keystone
Globalpraxis
Broader Implications
Key Learnings
13: The Importance of Gaining and Maintaining Speed
Operational Clarity
Strategic Clarity
Avoid “Micro-Management”
Immediate Follow-Up
Key Learnings
14: Proactivity, Positivity, and Innovation
Examples of Open-Minded, Positive Thinking in Practice
Innovation
Key Learnings
15: Cycle Management: Entries and Exits
Decision-Making in Cycle Management
Examples of Cycle Management
Shipping
Real Estate
Stocks
The Timing of IPOs
Key Learnings
Part V: Conclusions
16: Learning in the Future: Individuals, Business, and Academic Institutions
Business Schools of the Future: Effective Curricula
Modern Organizations and Educational Institutions: Principles and Skills
Final Words
Books Authored
Strategic Planning
Educational
Shipping
Family Business
References
