LinkedIn: The New Channel of the School of Management

A new channel dedicated exclusively to providing valuable content, information, and networking opportunities for professors, professionals, and management enthusiasts worldwide.

 

The School of Management (SOM) at Politecnico di Milano is thrilled to announce the launch of its new LinkedIn page today.

The page will be an essential channel to showcase the activities of the School of Management, complementing and integrating what is being shared by the new pages of the Department of Management, Economics and Industrial Engineering and POLIMI Graduate School of Management on their respective areas of interest.

We will share innovative academic research, insights, trend analyses shaping an ever-evolving future; promote conferences, seminars, and other events providing exceptional chances for networking and learning; and inform about new training opportunities in the field of management.

Through the new channel, we aim to create a dynamic dialogue that enriches our community and promotes the exchange of innovative ideas.

 

To stay updated and interact with the activities of the School of Management, follow us here: POLIMI School of Management

MSCA Post Doctoral Fellowships – Masterclass Polimi 2024

Application deadline: 7 May 2024

 

Politecnico di Milano is launching the 7th edition of the MSCA PF masterclass for potential applicants to the MSCA European Postdoctoral Fellowships call 2024.

The aim of the MSCA PF masterclass is to attract and train young and talented researchers to successfully applying to the European call with Politecnico di Milano as Host Institution.

Promising candidates to MSCA PF masterclass will be invited to attend a full online course on the proposal writing (12-13 June 2024) and to make use of full support in the application writing process by POLIMI advisors.


MSCA PF SEAL OF EXCELLENCE @POLIMI

As additional opportunity, the best 5 MSCA European postdoctoral fellows hosted by Politecnico di Milano, not funded by the European Commission but awarded with the SEAL OF EXCELLENCE in 2024, will be offered a postdoc position for 2 years with 40.000€/year (gross amount) as salary and 20.000€ for startup fund for research activities, training and networking. If the postdoctoral researcher has or acquires family obligations during the contract duration, a family allowance (4.800€/year) will be added.

 

 

“Supervisors’ project proposals” by the Department of Management, Economics and Industrial Engineering

 

Economic Sciences

Tristano SainatiGovernance Structures for Project Financing and PPPs

 

Information Science and Engineering

Matthias KlumppThe Industry 5.0 Paradigm Enacted – Biosensor Research to Support Human-centric Manufacturing and Logistics Process Design in Practice

Giorgio LocatelliThe Dark side of Projects and Temporary organizations

Federico CaniatoHuman centric supply chain processes, for a resilient and sustainable purpose, thanks to the adoption of digital technologies

 

Social Sciences and Humanities

Raffaella CaglianoHuman-centric organizational models – organizational implications of Industry 5.0 paradigm

Michela ArnaboldiDigitally preserving companies’ history and cultural heritage for the future

Deborah AgostinoArtificial intelligence for inclusive and sustainable public services

Cristina MasellaCo-assessment in healthcare setting: insights from Italy and UK 

 

Full list of proposals
https://www.polimi.it/en/faculty/working-at-the-politecnico/call-for-msca-pf-master-class-polimi

How to apply
https://www.polimi.it/en/faculty/working-at-the-politecnico/call-for-msca-pf-master-class-polimi/how-to-apply

Fintech Awards 2024: Laura Grassi wins the Woman of the Year award

The second edition of the Fintech Awards, organized by Financecommunity.it in collaboration with ItaliaFintech, took place on March 14, 2024.

 

The initiative, promoted by LC Publishing Group, aims to stimulate competition and growth in the Fintech world by recognizing companies and professionals who have distinguished themselves for their activities in 2023.

The winners were nominated by a  Jury of experts from the corporate world in the Fintech sector, representatives of Financecommunity.it, and representatives of professional Associations.

The criteria considered for the allocation to the best “Individual Professionals” finalists included technical and negotiation skills, knowledge of business dynamics related to the industry, commitment and ability to relate to clients, and professional reputation among colleagues.

Laura Grassi, awarded as “Woman of the Year,” is Professor of Investment Banking and Fintech Lab at the  Politecnico di Milano,  and head of the Fintech and Insurtech Observatory , where she actively engages in innovative research exploring the dynamic landscape of actors and startups, with a specific focus on Europe and international markets.

It is an honor to be recognized for promoting innovation in financial services. For years, together with my team at Politecnico di Milano, we have dedicated to this mission with passion and determination. We firmly believe that innovation is not just a trend but a necessity that leads to superior performance in the long run and to more useful services for citizens and companies.

Through in-depth research and targeted initiatives, including work within the Fintech and Insurtech Observatory, we lead high-impact projects in the Italian context. From promoting financial identity solutions to supporting startups by providing crucial data for investment decisions and improvement, to facilitating partnerships and open finance projects for both large financial institutions and startups. Our research spans cutting-edge areas such as Generative AI, Banking-as-a-service, and embedded finance, just to name a few.

I am often involved in international projects, including those funded by the European Commission through PNRR and Horizon Europe, for new initiatives that excite us. The two most recent ones focus on supporting startups facing legal, governance, and growth challenges, and on innovating insurance methods to address climate change.

This award is an encouragement to continue on our path, driven by the belief that innovation is the key to a more sustainable financial future, and also a more stimulating one.

 

The event was organized in partnership with CMS, EY, and PedersoliGattai.

For more information: https://www.italiafintech.org/2024/03/18/i-vincitori-dei-fintech-awards-2024/

BSIS Impact Assessment: the School is awarded the prestigious recognition for having generated an impact of academic and social excellence

The School of Management of Politecnico di Milano has successfully completed the BSIS (Business School Impact System) assessment process, confirming its important role at an international level in the academic and social arena.

BSIS is a tool promoted by the European Foundation for Management Development (EFMD) − one of the three most important accreditation bodies in the world − which assesses the impact of business schools on their geographical areas and society as a whole. Through this process, the School has seen its commitment to contributing positively to society through academic, research and collaboration activities with local businesses and institutions certified and measured

 

BSIS: the essential meaning and value of the process

The BSIS assessment is a crucial tool for assessing the impact of business schools on the surrounding environment and provides a comprehensive framework for understanding the contribution of academic institutions to their socio-economic context.

The impact of business schools is analysed in seven main areasfinancial, including both the school’s direct budget and the indirect financial flow generated in the region; educational, reflecting the influence of programmes on the local management community; business development, including the creation of new businesses and support for existing services; intellectual, through the output of the teaching staff and the contribution to local cultural life; within the regional ecosystem, involving the teaching staff and participants in public life and integration with other institutions; social, relating to CSR policies and sustainable development integrated into teaching and management; and image, assessing the school’s local, national and international reputation and its effect on the impact zone.

 

The evidence which emerged from the report for our institution

The BSIS assessment recognised the School’s strong capabilities in all the areas considered.

Starting from its product portfolio aligned with the country’s areas of excellence, the School has proven to uniquely integrate management, technology and humanities, thus creating an innovative and stimulating learning environment.

The assessment also highlighted the importance of key projects launched by the School to promote social innovation and address global challenges. Prominent among these projects are “Leave Your Mark”, which gives non-profit organisations the opportunity to benefit from the pro bono work of faculty, alumni and students, and the “Innova Europe” and “SoM Prize for SDGs” challenges, which respectively recognise SDG-based start-ups founded by students and alumni from top European business schools, and the work of our alumni to solve contemporary social challenges.

In addition, the School is actively committed to supporting the fight against climate change and promoting environmental sustainability. Through initiatives such as the financing of projects in countries such as India, Madagascar and Ecuador, and the financial support received from the Italian Ministry of University and Research for the HumanTech − Humans and Technology project, the School is positioned as a reference point in the field of sustainability and innovation.

 

At the School of Management of Politecnico di Milano, societal impact is a pivotal principle of our vision and mission. Besides being fully aware of our role in society, we already had a comprehensive approach to assessing the impact of our research activities; nevertheless, thanks to the BSIS framework, we realised that there were more dimensions to consider in order to enhance our overall effectiveness in our impact zone.

In this perspective, the recommendations that have emerged from the assessment are very valuable to support our School in implementing new measurement methodologies and activities to reach the ambitious goals we have set in our strategic plan. In this respect, the assessment challenges us to utilise impact measurement to support − and emphasise − our commitment and achievements, thus providing even more consistency to our mission.”

Raffaella Cagliano, Academic Director, School of Management del Politecnico di Milano

 

Per maggiori informazioni: https://blog.efmdglobal.org/2024/03/20/polimi-school-of-management-awarded-bsis-label/

Costanza Mariani wins an IPMA Young Researcher Award

 

Her research ‘Empirical Applications of Artificial Intelligence to the Domain of Project Managementproves successful

 

Costanza Mariani, a researcher from the Department of Management, Economics and Industrial Engineering, won the IPMA Young Researcher Award 2024.

The IPMA Research Awards aim to promote research excellence to improve project management by contributing to the advancement of knowledge and the development of the industry and are an important recognition for project managers who give their best to achieve the results desired by stakeholders, organisations or the society, while dealing with ever-increasing complexity and volatility.

IPMA Research Evaluation Baseline (REB) assesses and recognises research conducted to the highest global standards and promotes theoretical and/or methodological aspects by assessing applications according to the following criteria: research problem, research process, research results and people in the research.

Based on four demonstrative case studies, Researcher Costanza Mariani’s paper ‘Empirical Applications of Artificial Intelligence to the Domain of Project Management‘ analyses the application of artificial intelligence to four project management processes (selection of projects to be included in a portfolio, risk assessment, risk mitigation action selection, stakeholder classification).

The four cases were validated in real project contexts (specifically in Nuclear Decommissioning and IT projects) and the results obtained through the application of AI were compared with those obtained through normal human-based project selection, risk management and stakeholder ranking processes.

The results showed that the use of AI fosters process efficiency in project management and improves decision-making processes, while also ensuring the possibility of constant monitoring and the implementation of ad hoc corrective actions in progress.

 

For further information: https://awards.ipma.world/news/6487/

The economic consequences of an increasingly polarized job market


A study by Daniele Siena on the economic journal

 

Technology, in particular that which enables the automation of production processes, is radically changing the world of work in Europe and globally. However, this trend not only has a direct effect on society and the labour market but also has a crucial impact on the functioning of the economy and the economic policies of governments and central banks.

A study by Daniele Siena, Professor of Macroeconomics at the School of Management of the Politecnico di Milano, and Riccardo Zago, published on The Economic Journal, shows how the destruction of routine jobs, such as those of craftsmen, factory workers, farmers, plant/machinery operators and unskilled workers, is changing the structure of the economy in the Eurozone. In particular, the polarisation of the labour market towards manual (generally low-income) and abstract (high-income) jobs is making prices in the economy less sensitive to changes in employment.

This happens because the routine labour and the non-routine labour markets work in a very different way from each other. The routine labour market is very rigid and barely dynamic; mobility of workers is low as they due to their poor qualification level, and collective bargaining coverage is high.  In contrast, the non-routine labour market is more fluid and dynamic. Indeed, non-routine workers change their employer more often, may have more jobs at the same time and show higher mobility. The result is an aggregate labour market in which it is easier to lose one’s job but also to find a new one, as the technology transition increases the share of non-routine workers.

This leads to more stable wages and therefore increases stability in prices, in response to the economic cycle. Indeed, when an economic shock or a change in economic policies occurs, the economy usually reacts in terms of quantity of labour (employment and unemployment) rather than wages.

To sum up, the labour market transition from routine to non-routine jobs makes wages and inflation less sensitive to changes in the economic cycle at the aggregate level.

Understanding this mechanism is of paramount to understand the effect of European economic policies. In particular, the change in the structure of labour may explain the European Central Bank’s difficulty in controlling inflation in the years before the Covid-19 pandemic. The current reversal of the labour market polarisation caused by Covid-19, implemented through the re-industrialisation plans of Next Generation EU, may explain the unexpected inflationary boost of the expansionary monetary and fiscal policies implemented to mitigate the effects of Covid-19.

 

Find out more
Daniele Siena, Riccardo Zago
Job Polarisation, Labour Market Fluidity and the Flattening of the Phillips Curve
The Economic Journal, January 2024

Industry5.0 – The Imperative of Sustainability in Manufacturing

Not just an ethical considerations but a value for success. Sustainable production as an opportunity for producers to differentiate themselves in the current market.

 

Manufacturing Group, School of Management

 

Nowadays, the manufacturing industry stands at a critical crossroads where environmental sustainability is no longer just a buzzword but a must have. The imperative for sustainable practices in manufacturing goes beyond ethical considerations; it directly impacts financial viability, brand image, and regulatory compliance. As global awareness of environmental issues intensifies, stakeholders across the manufacturing sector are recognizing that sustainable practices are not just optional but essential for long-term success.

The financial case for environmental sustainability was initially perceived as a cost burden, instead, the sustainable practices, are now recognized as drivers of cost savings and operational efficiency. By reducing energy consumption, minimizing waste generation, and optimizing resource utilization, manufacturers can significantly lower their operating expenses. Investments in renewable energy sources, energy-efficient technologies, and waste reduction initiatives often lead to substantial long-term cost savings, enhancing profitability and competitiveness.

Moreover, sustainable manufacturing practices, like the adoption of circular economy strategies, mitigate financial risks associated with volatile resource prices and regulatory uncertainty. As the costs of raw materials and energy continue to fluctuate, companies that embrace sustainability are better positioned to weather market fluctuations and maintain stable production costs. Additionally, forward-thinking investors are increasingly factoring environmental performance into their decision-making processes, making sustainability initiatives attractive for capital investment and fostering sustainable growth.

In today’s socially conscious marketplace, brand image plays a key role in consumer perceptions and purchasing decisions. Companies that demonstrate a commitment to environmental sustainability not only attract environmentally conscious consumers but also enhance brand loyalty and reputation. Adopting sustainable manufacturing practices not only mitigates environmental impact but also shields companies from reputational damage and potential boycotts. By aligning their brand with values of corporate responsibility, manufacturers can differentiate themselves in the market and cultivate a positive brand image for both consumers and stakeholders. Indeed, companies that prioritize sustainability not only reap financial rewards through cost savings and operational efficiency but also enhance brand loyalty, mitigate reputational risks, and stay ahead of regulatory requirements.

Governments around the world are enacting increasingly stringent environmental regulations to address climate change, pollution, and resource depletion. From emissions standards to waste management regulations, manufacturers are facing a complex web of environmental mandates that necessitate proactive compliance measures. Failure to adhere to these regulations can result in costly fines, legal liabilities, and operational disruptions.

However, regulatory compliance is not just about avoiding penalties; it presents an opportunity for manufacturers to stay ahead of the curve and gain a competitive advantage. Furthermore, staying abreast of evolving regulations enables manufacturers to anticipate future compliance challenges and adapt their operations accordingly, ensuring long-term viability and resilience in an increasingly regulated environment.

As the manufacturing industry continues to evolve in response to global environmental challenges, embracing sustainability is not just a matter of responsibility; it is a strategic imperative for long-term success and resilience, it can position companies as industry leaders and let them gain preferential treatment from regulators, customers, and investors.

A sustainable-driven engine is especially relevant for the Italian manufacturing domain characterized by medium and small realities facing different challenges in pursuing such a transition due to limited financial capital, lack of skills, and lack of adequate infrastructure. Being aware about this challenging context, the Manufacturing Group of the School of Management of Politecnico di Milano aims at boosting the sustainable and circular transition of manufacturing companies by transferring the scientific knowledge generated in both national and international research projects into the industrial domain. To provide a complete support by covering the several aspects characterizing the transition, different but specific assessment methodologies have been developed.

Manufacturing companies can be supported in identifying the circular practices to be established internally to the company and externally by collaborating with external entities based on their strategic goals and current operations. Moreover, they could easily identify the set of data needed to establish such circular practices and chose the proper suppliers evaluating their sustainable oriented performances. Among all, considering the lack of skills perceived, the research group support companies in measuring this perception by mapping the skills and job profiles available internally to the company to identify proper training paths focused on circularity of sustainability dimensions.

 

MAASive: a project to maximise resources in a value network

MAASive project was created with this aim, to enhance the resilience of manufacturing companies in response to the challenges posed by rapidly evolving markets.

 

Nowadays, competition transcends individual companies and extends to their systems of companies – suppliers, buyers, technology and financial partners – referred to as ‘value networks’. Today’s value networks face the imperative of bolstering their resilience to navigate the increasingly volatile economic environment.

Horizon project MAASive (Manufacturing-as-a-Service to Increase Resilience in Value Networks) aims to develop new models to increase the resilience of value networks by leveraging Manufacturing-as-a-Service, a flexible sourcing approach that entails collaboration among value network members by sharing production capacity and harnessing digital technologies to achieve greater efficiency and reliability.

The primary objective is to maximise existing resources within value networks by providing industries with a tool kit that amalgamates established methods and technologies tailored to the MaaS framework, supplemented by new models and technologies developed as part of the project. Through an interconnected network, the tool kit facilitates seamless access for manufacturers to on-demand service providers, enabling swift and efficient use of production services and equipment.

Over 36 months, the project endeavours to build up European manufacturing companies’ resilience against unforeseen events, such as the COVID-19 pandemic. This type of service-oriented approach allows companies to quickly adapt to critical events and resume production even amidst unforeseen circumstances, mitigating interruptions in the supply of essential materials and components.
A large number of European companies under-utilise their production equipment, which hints at the substantial potential for increased production in the EU without the need of additional investment.

Politecnico di Milano will provide the conceptual foundations for the proposed models while contributing to the development of simulation models and supporting the dissemination of the project results.

The researchers from the Department of Management, Economics and Industrial Engineering involved are Margherita Pero, Antonio Masi, Franco Chiriacò and Adeline Athina Abou Ali.

The project is led by Aalborg University (Denmark). In addition to Politecnico di Milano, partners include: Hamburg University of Technology (Germany) École Centrale de Nantes (France), Kamstrup AS (Denmark), Arcelik AŞ (Turkey), Artico SA (Romania), Ilpea Plastik Ve Kaucuk Urunleri Sanayi Ve Ticaret Limited Sirketi (Turkey), Industrie Ilpea Romania Srl (Romania), Smartopt Bilisim Teknolojileri A.Ş. (Turkey), Txt E-Tech SRL (Italy), Etk Ems Skanderborg AS (Denmark).

Transforming Manufacturing for a Customer-Centric Future


Over the past few years, there has been a significant transformation in the manufacturing industry known as Servitization; it is now a prominent trend for 2024. This shift represents a departure from the conventional focus on producing goods, towards a more service-centric approach.

 

Anna De Carolis, Junior Assistant Professor, Manufacturing Group
Claudia Aurisano, Research fellow, Manufacturing Group
School of Management, Politecnico di Milano

 

Servitization introduces services into the core business model, offering manufacturers a distinct mean to stand out in today’s highly competitive market.

Servitization is the process through which manufacturers transition from selling products to delivering comprehensive solutions that include not only the physical product but also a range of associated services. This strategic evolution is driven by the recognition that customers increasingly value outcomes and experiences over mere ownership of products. By providing a bundle of services alongside their products, manufacturers can better meet customer needs and foster long-term relationships.

For manufacturers, embracing servitization signifies a strategic pivot extending beyond mere product sales to the building of enduring customer relationships. This transition demands a reassessment of business models, internal processes, and a cultural shift within organizations. Manufacturers are evolving into solution providers, committed to meeting the growing needs of their customers across the entire product lifecycle. On the flip side, customers stand to gain from this transformation with enriched value propositions. Instead of engaging in one-off transactions, they gain access to a suite of services that optimize the performance, durability, and efficiency of their purchased products.

From a market perspective, servitization offers significant competitive differentiation. Manufacturers can distinguish themselves in a crowded marketplace by offering a distinctive blend of products and services. This approach fosters stronger customer relationships through ongoing support and value provision, leading to heightened loyalty. Moreover, it facilitates the evolution from a transactional model to a subscription-based or pay-per-use model, generating more predictable and recurring revenue streams. Additionally, by maintaining deeper engagement throughout the product lifecycle, manufacturers gain invaluable insights into customer behavior, enabling them to tailor services and products more effectively, thereby fostering enhanced customer satisfaction.

Furthermore, from an environmental standpoint, servitization encourages a focus on product longevity, repairability, and sustainability, aligning with the growing demand for eco-friendly and socially responsible practices.

Overall, the sale of services linked to products is reshaping the manufacturing market by offering new revenue streams, strengthening customer relationships, driving differentiation, fostering innovation, and promoting a more customer-centric approach to business.

Servitization is critical for the manufacturing industry’s future success because it aligns with the changing expectations of modern consumers. In an era where customer experience and outcomes matter more than ever, manufacturers must evolve to remain competitive. This shift not only ensures the survival of traditional manufacturing firms but also positions them as leaders in an era where service excellence is paramount.

At Politecnico di Milano the Manufacturing Group of the School of Management aims to transfer its scientific knowledge to industrial companies, with services that favor the business’ evolution through the servitization model.

Our consultancy services in Business Development guide companies in creating value by identifying new services to complement their products or by transforming the product itself into a service, adopting a customer-centric business model focused on loyalty.

By leveraging scientific knowledge on service evolution, forward-thinking companies can easily adapt to the ever-growing needs of customers, diversifying their business models through digital technologies that enable them to ride the service economy wave.

Gender lens investing: reshaping financial landscapes

Investment approach aiming at combining economic performance and positive impact for women

 

A report focused on advancing gender equality through impact investing and sustainable finance was released.  ‘Empowering women, building sustainable assets: Strengthening the depth of gender lens investing across asset classes’ was prepared by UN Women, in collaboration with Politecnico di Milano (TIRESIA project), Phenix Capital Group and Bocconi University – Axa Research Lab on Gender Equality.

The report explores the Gender Lens Investing (GLI) market through quantitative and qualitative analysis. The GLI approach places gender equality at the centre of investment decisions with the aim of reducing gender inequality through the strategic allocation of economic resources.

The report highlights the lack of consensus on the definition of equality and inclusion in the financial sphere, stressing the urgent need for better financial literacy. Improving financial education is a key step to incorporate gender issues into investment decisions.

Investors are increasingly aware of the importance of quantifying and reporting the impact of their investments, by adopting measurement practices that consider gender and equality issues, thus actively contributing to the success and positive impact of such initiatives.Top-down initiatives, including stricter regulations, are welcomed by the investment community, and foster the acceleration of gender and equality initiatives.

“We have not yet been able to make impact the main focus for financial institutions to generate value.” comments Mario Calderini, director of Tiresia.

The key findings of the report provide a detailed overview of the investment market targeting UN Sustainable Development Goal (SDG) 5, which promotes gender diversity. As of July 2023, invested capital reached the remarkable amount of USD 56 billion, reflecting the growing demand for SDG 5-related impact investment funds. Private equity is confirmed as the most mature impact strategy, as the asset class boasts the largest number of investment funds (41) and significant allocated capital. Investments in real assets – real estate and infrastructure – also saw an increase in initiatives in 2022, despite the limited number of funds.

This groundbreaking report not only reveals important findings, but also highlights the great contribution of Gender Lens Investing to society. By strategically allocating capital to address gender inequality, GLI offers a practical and potentially impactful solution to tackle the chronic underfunding of women’s empowerment and gender equality initiatives.As the world strives to achieve the ambitious goals set by the United Nations 2030 Agenda, this report proves the potential of Gender Lens Investing as a transformative force for positive change, breaking down barriers and paving the way for a more inclusive and fair future.

We have not yet been able to make impact the main focus for financial institutions to generate value.

“One of the most immediate reasons to explain why this has not happened is in the composition of the boards of large financial institutions: who was not sitting there? Women. I strongly believe that the impact revolution will depend on more inclusion, more women and more gender diversity in decision-making bodies.”