The role of a business school has undergone fundamental changes.
Gone is the narrow focus of yesteryear on simply producing ‘job-ready’ graduates to climb the corporate ladder.
Our students – and wider community – now expect us to help them grapple with the very real problems of our time.
For example, how do we respond to climate change? Deal with the fast-changing nature of ‘work’ itself. How do we help to build a more sustainable and equitable future, not just for ourselves but for the communities around us?
Within the globally ranked Monash University in Melbourne, Australia, Monash Business School is committed to making an impact on the pressing challenges of our time.
We drive innovation and foster impact through an impressive educational and research agenda that is linked to Monash University’s pioneering strategic plan, Impact 2030, which has as its core pillars climate change, geopolitical security, and creating thriving communities.
A Strategic Vision for Transformation
Monash Business School’s trajectory of transformation is evident in its growing focus on interdisciplinary research and innovation. A key part of this transformation is the establishment of several research focused Impact Labs, each designed to address emerging areas of global significance.
“The massive challenges of our time require multidisciplinary solutions. That’s why our Impact Labs are designed to be outward-facing, enabling us to engage with industry and government on critical issues,” says Deputy Dean Research, Professor Russell Smyth.
In doing so, these labs are helping to amplify the school’s multidisciplinary research, providing valuable insights and solutions that contribute to economic growth while remaining in harmony with the planet.
Greenlab: Addressing climate change and sustainability
Monash Business School’s commitment to sustainability is embodied in Green Lab, an interdisciplinary hub focused on climate change and sustainability research. The lab’s research focuses on areas such as the circular economy, sustainable supply chain practices, climate governance, and adaptation to climate change impacts.
Through its interdisciplinary research, the Lab aims to develop sustainable practices that can be implemented across industries, helping businesses and governments transition to greener, more sustainable models.
Green Lab’s focus on applied research ensures that the solutions it develops are not just theoretical but can be put into practice in real-world scenarios.
Opportunity Tech Lab: Pioneering digital equity
Opportunity Tech Lab sits at the intersection of the digital economy and the growing inequities in employment and entrepreneurship.
One of its most cutting-edge innovations is VR Elovate, a tool that when fully developed, will harness immersive virtual reality technology to address employment barriers for people with disabilities or neurodiversity.
By enabling users to create virtual reality experiences without the need for programming skills, VR Elovate opens up new opportunities for people with disabilities, advocates, employers, and non-disabled employees to collaborate more effectively and overcome employment barriers.
By democratising access to technology and fostering inclusion, Monash Business School is helping to bridge the gap between the digital economy and marginalized groups.
SoDaLab: Innovating through data science
Another exciting initiative within Monash Business School is SoDaLabs, a research laboratory dedicated to empirical social science research. SoDaLabs applies advanced tools from data science and machine learning to generate insights into some of humanity’s most pressing problems.
With expertise in satellite imagery, internet activity analysis, and text-as-data techniques, SoDaLabs is revolutionizing the way we approach social science research.
This innovative approach to research is enabling Monash Business School to generate actionable insights that can drive positive change across a wide range of areas, from economic development to environmental sustainability.
Pacific Action for Climate Transitions (PACT): Building resilient communities
An illustration of the school’s commitment to addressing the global impacts of climate change is its Pacific Action for Climate Transitions (PACT) initiative.
PACT is a bold collaboration between Monash Business School and Fiji National University, aimed at improving economic resilience and community well-being in response to climate change in the South Pacific.
This partnership is focused on creating climate-resilient and harmonious communities, offering a glimpse into the possibilities of what can be achieved when academic institutions work closely with local communities and governments.
Creative Destruction Labs (CDL): Mentoring Future Innovators
Monash Business School’s global reach is also evident in its partnership with Creative Destruction Labs (CDL), a program that collaborates with top business schools worldwide to mentor early-stage deep-tech ventures.
CDL’s mission is to turn promising ventures into scalable and financeable companies, and Monash Business School is playing a crucial role in this initiative by supporting the growth of ventures across Australia and the Asia-Pacific region.
CDL-Melbourne has just accepted its second cohort of ventures.
“We could not be more excited for this cohort to start. Last year produced some wonderful results for the ventures and CDL is really a great place to foster innovation and mentoring,” says Director A/Prof Charlie Nave.
As these examples illustrate, Monash Business School is at the forefront of addressing the most pressing challenges of our time.
Through its innovative research labs, global collaborations, and cutting-edge tools the school is making a tangible difference in the lives of people and communities around the world.
Being involved in a global network of business schools like GBSN ensures that we continue to grow our engagement and vision across borders.