Financial Times Rankings – Masters in Management 2023

The Master of Science in Management Engineering at Politecnico di Milano has climbed to 77th place in the Financial Times Rankings of Masters in Management 2023, gaining 7 positions compared to 2022.


The Master of Science in Management Engineering of the School of Industrial and Information Engineering at Politecnico di Milano confirms once again this year its inclusion in the “Masters in Management 2023” Ranking, thus obtaining further recognition from the Financial Times.
Despite the entry of 21 new schools, the Programme has gained 7 positions compared to 2022 and has thus raised to 70th place, taking Politecnico among the top 9 technical universities.

The criteria that have made this advancement possible include, among others, Weighted Salary, Salary Increase, Value for Money – the quality-price ratio of the Programme – and International Course experience – calculated based on the number of exchanges and internships with one-month minimum duration in locations other than that of the School.

Politecnico’s Laurea Magistrale/Master of Science in Management Engineering has about 900 students admitted each year, of which around 20 per cent are international students.

Teaching is delivered in English and there also numerous opportunities for student international exchanges and mobility: the Erasmus Programme, Double Degree programmes in collaboration with prestigious foreign universities, and special programmes of varying duration from a few days up to one-year exchanges.

Each year more than 350 students decide to try an experience abroad and just as many students are accepted on exchange, making our Campus increasingly international.

The combination of the experiences and skills provided and the constant demand from the world of labour for Management Engineers make this Master of Science one of the best programmes in the field of economic and management education.

Together to reshape agrifood systems

Solutions to fight food insecurity and malnutrition in an event by POLIMI, UFSC and local 2030 coalition


The Politecnico di Milano organised, together with Urban Food Systems Coalition (UFSC) e Local 2030 Coalition, the event “City, subnational and national governments join actions with multiple actors towards healthy, inclusive, sustainable and resilient food systems”, that took place in the framework of  the UN Food Systems Summit +2 Stocktaking Moment in Rome, at the premises of the Food and Agriculture Organization of the United Nations (FAO).

The event brought together experts and leaders to discuss how cities, subnational and national governments can work together to deliver interconnected and innovative solutions that can pave the way for transformative, inclusive, resilient and sustainable food systems, that cater to the needs of all.

Among the speakers also Giulia Bartezzaghi, Director of the Food Sustainability Lab at the Politecnico di Milano, who emphasized the importance of multistakeholder and cross-sector partnerships that involve academia, local governments, civil society, and businesses.

These partnerships can play a critical role in food recovery and redistribution in cities, addressing food insecurity while also tackling food waste. Universities, as facilitators and promoters, can bring diverse expertise to, and learn from these initiatives, promoting a systemic change in the urban food landscape.

QS Executive MBA Rankings 2023: POLIMI Graduate School of Management Executive Master in Business Administration among the best in the world


The business school of Politecnico di Milano ranks 30th in Europe and 68th in the world as certified by Quacquarelli Symonds


Milan, 14 July 2023POLIMI Graduate School of Management, part of the School of Management of Politecnico di Milano, is confirmed as one of the best business schools in the world again this year, thanks to the quality of its internationally recognised training courses. According to the 2023 edition of the QS Executive MBA Rankings, published today by the global higher education consultancy Quacquarelli Symonds (QS), the business school of the Milanese university ranks 30th out of 71 schools at European level. The QS rankings are among the most authoritative certifiers of excellence in training and education services.

Globally, POLIMI Graduate School of Management ranks 68th for the quality of its Executive MBA out of a total of 199 business schools classified, gaining 6 positions compared to last year’s 74th place. The ranking refers to the quality of the MBAs in Executive format, i.e. those aimed at professionals who have already started working.

Employer reputation and thought leadership are the categories in which POLIMI Graduate School of Management is best positioned, respectively at 53rd and 72nd worldwide. At continental level the picture is even better, considering the 20th and 31st positions attained respectively. These are two categories that greatly affect the final rankings because they relate to distinctive features which are very important to students and managers from all over the world. Employer reputation is, in fact, the quality of the training programme recognised by the tens of thousands of employers interviewed by QS globally. Thought leadership certifies the prestige of the faculty according to the opinion (revealed through surveys) of the national and international academic world.

At European level, POLIMI Graduate School of Management has improved in all areas of assessment: in addition to the aforementioned categories, QS recognises the school’s quality in relation to post-graduation career results, diversity (the gender balance between students and the variety of nationalities), and the executive profile (students’ years of work experience at high managerial levels).

The improvement at European level in all the scores examined by QS is an excellent result and a source of great satisfaction for us”, declared Vittorio Chiesa and Federico Frattini, President and Dean of POLIMI Graduate School of Management. “In fact, it means that a business school like ours is considered a point of reference in postgraduate management education for a variety of reasons. Today, we offer outstanding training that is enabled by connections and networking  ̶  not only among students, but also with companies, institutions and our alumni; in short, an enormous relational capital is available to our students”.

POLIMI Graduate School of Management has been in the rankings since 2017 and has featured every year since then.


The QS Executive MBA 2023 Rankings are available here.

QS World University Ranking: our best result ever


The Politecnico di Milano is the first university in Italy and the 123rd in the world, gaining 16 positions compared to last year


The Politecnico di Milano achieves its highest-ever position in the QS World University Ranking. This year, the university is ranked 123rd out of 1,500 universities worldwide, climbing an incredible 16 places since last year. Its ascent up the world’s most important university ranking thus continues. For the first time, the Politecnico enters the world’s top 9% of excellent universities.

This result was made possible by important factors that contributed to achieving this position. Our University ranks among the world’s top 100 universities in terms of academic and business reputation. The university improved its Academic Reputation score from 96th to 94th position.

Internationalisation indicators, such as the number of international faculty staff and international students, also did well for Politecnico. Of particular note is the high score achieved in this year’s International Research Network indicator, which assesses the level of international collaboration in scientific research.

These data confirm Politecnico di Milano’s outstanding results, ranking among the world’s top 20 universities in Design, Architecture and Engineering, according to the QS World University Rankings by Subject 2023 published in March. In Design and Architecture, it ranks 8th and 10th. In Engineering, it ranks in the top 20 worldwide, coming in at 18th position.

For more information:

International, responsible and nurturing: envisioning the future of our School

Interview with Raffaella Cagliano, newly appointed Academic Director of the School of Management


Your recent appointment as Academic Director of the School of Management took place at the same time as the election of the new Rector of the Politecnico di Milano, prof. Donatella Sciuto. This is the beginning of a new phase for the University as a whole, which has to face various new challenges. Starting from your program, what is your vision and what are the School’s priorities for the next few years?

Taking on the role of Academic Director is a great honor and responsibility. Our School, together with the whole Politecnico di Milano and the University system, is facing relevant challenges that ask for a clear vision and considerable accountability.

Thanks to the constant improvement of the positioning of Politecnico di Milano in the international rankings, and the excellent results obtained by the School of Management in the last six years, many opportunities have opened up and need to be concretely exploited.

This is also a flourishing time for Italian Universities, thanks to the financing received for research projects and positions within the PNRR (National Recovery and Resilience Plan) scheme, which outlines the goals, reforms and investments that Italy intends to pursue through NextGenerationEU funds to mitigate the COVID-19 socio-economic impact.

However, for their potential to be fully exploited these opportunities must be managed conscientiously. The new resources and collaborations resulting from this fast growth must be consolidated into a new solid base for further developments, while also keeping in mind that the pressing societal challenges and the recent developments in the geo-political scene are asking universities for a decisive contribution, that is, to provide answers and at the same time to also develop a culture of peace and sustainable development.

In this scenario, the School of Management’s main priority is to strengthen the excellence achieved, with the aim of becoming an international leader in responsible research and education, and of allowing our people, and especially the young professors, to thrive and develop their best capacities, for them to contribute to a general positive impact on society as well as to the success of our School.


To this respect, in recent years, the school has worked a lot to create awareness of the impacts generated by scientific research and to promote sustainability. How does it deal now with the complexities of the current socio-economic and environmental challenges that you have mentioned?

Sustainability and social impact continue to be central to the strategy of our School. We are aware of the challenges the business and economic system and the society as well are facing and, together with the whole Politecnico, we want to develop and disseminate the knowledge that is needed to transition to a greener and more just world, while producing and spreading wellbeing. We see our role as particularly important in contributing to the common good through a critical understanding of both the opportunities and the challenges offered by technology.

We pursue this mission by creating and sharing knowledge through high-quality education, the quest for scientific excellence and active community engagement.


The Department of Management, Economics and industrial Engineering, which is part of the School, has just been appointed as a “department of excellence” for the five-year period 2023-2027 by the Italian Ministry of University and Research, which will fund the HumanTech (Humans and Technology) project. The issue of man at the center of technological development has been one of the main areas of focus for the School (we talked about this in issue #6). Can you briefly tell us what the objectives of the project are?

The HumanTech project is a great opportunity for the School to foster collaboration between the different research groups and knowledge centers inside and outside the Department towards a common research objective. They will jointly develop relevant insights and knowledge about novel ways to approach and implement digital technology innovation with the aim of balancing two goals: improving the wellbeing of individuals and the whole society while also being economically sustainable.

In our view, there is a pressing need to evolve the current technological development model from maximizing economic results towards a more “human” form, that is, a model that in addition to the financial and economic implications also takes into account human, social and environmental ones from the very beginning.

Thanks to the financing obtained, the School will develop top-notch labs supporting behavioral and cognitive ergonomics research in virtual and immersive environments, which will ground the leadership of our School in the field.

We are setting challenging performance targets in terms of outcome, reach and impact of our research results in the next five years. If we will be able to fulfil this promise, these results will further consolidate the excellence and international positioning of our School among the top European schools of management within technical universities. You will read more details on the project in the editorial piece by Federico Caniato.


If you had to briefly give 3 keywords for the future of the School in the short term, what would they be?

Nurturing – We wish to nurture our Faculty by creating an inspiring and stimulating environment for developing excellent and impactful research and innovative teaching.

Responsible – Our responsibility stands in pursuing research and teaching oriented to have a positive impact on companies and the local community. By developing and disseminating knowledge on the role of technology and innovation, we contribute to a better and more just society.

International – We aim at attracting talents worldwide and becoming a center of excellence renowned for the quality and standing or our research and teaching activities.

Venture Capitalists in Italy? They are very cautious and focus on entrepreneurs rather than technology and product in 8 out of 10 cases

Here are the Italian results of a survey on VC practices in several European countries conducted by 8 prestigious business schools


Italian venture capitalists are much more cautious than both their US and European counterparts, at least compared to countries such as France, Germany, Belgium, Spain, Portugal and Sweden. In Italy, venture capitalists grant funding almost exclusively on the basis of the entrepreneur’s history of success, giving little or no weight to the product, technology and market proposed to them. They operate in consortium usually to divide risk (in 46.4% of cases), seek unanimous approval of investment decisions in 50% of cases and prefer to be paid with less risky annual financial bonuses than with percentages (usually 20%) on capital gain. These are the main results regarding Italy of a survey conducted on European venture capital practices by a consortium of prestigious Old Continent business schools, including the School of Management of Politecnico di Milano, along with: Audencia Business School, Vlerick Business School/Ghent University, London Business School, Stockholm School of Economics, Universidad Complutense de Madrid and Univiersité du Luxembourg.

In 2020, authoritative research was published that took a snapshot of the practices of US venture capitalists,” explains Massimo Colombo, Professor of Entrepreneurial Finance at the School of Management of Politecnico di Milano. “We wondered whether European investors behaved in the same way or whether there might be significant differences – given the historical and institutional differences, the smaller size of the market, for example in Italy, or differences in governance. We therefore presented a similar questionnaire to all known venture capitalists in Italy, France, Germany, Belgium, Spain, Portugal and Sweden, and collected 885 responses (corresponding to 44% of VC investments in 2022), of which 44 were Italian, representing a similar percentage of the total investments”.

According to the survey, far fewer proposals are received in Italy than in other European countries: the average Italian investor received around 400 in the last 12 months, compared to 500 in Europe. However, Italian investors are less selective, accepting one proposal in 43 instead of one in 51. And the key factor for them in deciding whether or not to grant capital is essentially the entrepreneurial team: in fact, 8 out of 10 times, they invest in those who have already demonstrated an entrepreneurial or managerial record of success. “In Europe, too, the entrepreneur is considered more significant than the technology, product and market,” Colombo says, “but if in Europe the percentages are 53.1% versus 27.6%, in Italy it rises further to 81.6% versus 7.9%. The fit between investor and start-up and the added value the VC can bring are also of little importance (5.3%), whereas in Europe they are considered in up to 12% of cases“.

Again, the qualities which Italian investors value most highly in entrepreneurial teams are passion and commitment (28.9%) and sector experience (23.7%), to which they give much more weight than their European colleagues, who place more value on competence (28.2%) and entrepreneurial experience (19.3%).

As for the VC’s added value, Italian investors, like others in Europe, provide most of their support to start-ups in building links with suppliers, customers and partners, in acquisitions and in monitoring as board members. Strategic and operational support, on the other hand, is less common.

It is rare for a venture capitalist to invest alone, generally preferring to invest through a consortium, but while in Europe they do so to find complementary expertise (38.5%) and to a lesser extent to share the risk (28.8%), in Italy the latter becomes clearly preponderant (46.4%), while complementary expertise accounts for only a third of cases. The need to overcome capital constraints then drops from a 22.4% average in Europe to 14.3% (in Italy the rounds are usually smaller).

When choosing consortium partners, reputation and past successes are the decisive factor, both in Italy (45.1%) and, equally, across Europe (44.9%), while sectoral experience counts significantly more in Italy (35.5% versus 22.5%). By contrast, previous collaborations have less weight (3.2% vs. 11.5%). When it comes to choosing which start-ups to focus on, Italian investors look for unanimity in half of cases (compared to 32.8% across Europe), whereas other European investors vote by majority (37.6% compared to 35%) and the search for consensus is even weighted twice as heavily (25.9% against 12.5%).

6 scientists from the Department of Management, Economics and Industrial Engineering in the World’s Top 2% Scientist ranking

They have been identified among over 8 and a half million researchers whose scientific authority is globally recognised


Enrico Cagno, Vittorio Chiesa, Massimo Colombo, Christine Harland, Giorgio Locatelli, John Rodney Turner: these are the 6 professors of the Department of Management, Economics and Industrial Engineering included in the World’s Top 2% Scientist ranking, the global ranking of the scientists with the highest level of scientific productivity, drawn up by Stanford University in collaboration with Elsevier and the worldwide scientific research database ‘Scopus‘.

The ranking is the result of a bibliometric study, a discipline that uses mathematical and statistical techniques to analyse the quantity, quality and diffusion of publications within scientific communities. The authors analysed data relating to over 8 and a half million researchers from universities and research centres throughout the world. Among them, approximately 195,000 scientists stood out for their scientific authority and currently represent the best 2%.

Approximately 5,000 of these work (or have worked for the majority of their careers) in Italy, 185 of whom at Politecnico di Milano. Compare the downloadable data using this link

The citations and the relative h-index (an index that measures the productivity and scientific impact of an author, based on both the number of publications and the number of citations received) are evaluated for each researcher. The ranking also indicates the scientific discipline, ranging from astrophysics to zoology, and the respective ranking, according to a classification of the author’s profile obtained using advanced machine learning techniques to produce comparable results across different scientific areas.


For the complete list:

Innovation and Value Creation Research Seminar 2023 (IVC2023)

Politecnico di Milano School of Management has recently hosted Professor Ralf Reichwald’s wide research community for this annual event that for the first time has taken place in Italy.


The Innovation and Value Creation Research Seminar 2023 (IVC2023) took place from May 4th to May 6th at the School of Management at Politecnico di Milano. Over 45 professors and PhD researchers from Germany, Austria and Italy joined the seminar to present and discuss their recent research results. IVC2023 joined intellect, curiosity, and openness, resulting in an intensive exchange of ideas between participants. With ten sessions spanning various domains, the seminar delved into digitalization and business models, open innovation, and innovation ecosystems, servitization and smart manufacturing, as well as sustainable transformation and circular economy.

The seminar started with a pre-conference dinner on May 4th where the researchers had the possibility to come together and have initial discussions before the beginning of the seminar sessions. Over the course of 1,5 days, this event provided an engaging platform for PhD candidates from Germany and Italy to present their research findings in the realms of innovation and value creation. So far, the research seminar with all its previous editions has taken place only in German and Austrian universities. The 18th edition of this year’s seminar is the first time the seminar is organized in Italy.

The PhD researchers highlighted the transformative power of digital technologies in shaping and disrupting traditional industries, emphasizing the need for organizations to adapt and innovate continuously and to accommodate new ways of doing business such as servitization models. The discussions centered around the strategies, frameworks, and new forms of leadership that drive successful digitalization efforts, with the objective of illuminating the path for companies seeking to harness the full potential of digital technologies.

Open innovation and innovation ecosystems illustrate the power of collaboration and co-creation in fostering innovation. The seminar participants explored the importance of creating conducive environments that encourage knowledge sharing, facilitate partnerships, and promote innovation by leveraging tools such as living labs and product service system demonstrators. The emerging models and best practices discussed during the sessions underscored the need for organizations to embrace a more inclusive and collaborative approach to innovation, while emphasizing the role of boundary spanning objects and investigating the exploitation-exploration dilemma that emerge in innovation projects.

In the area of sustainable transformation and circular economy, many interesting contributions have been provided, in particular regarding the emerging area of regenerative business models and bio-based materials, a growing field that promises less pollution and CO2-emissions. The participants showcased their research on business models and use cases to achieve sustainability, emphasizing the role of circular economy principles in promoting resource efficiency and reducing waste. The discussions touched upon various aspects, including sustainable business models, eco-design, and the importance of stakeholder engagement in achieving a circular and regenerative economy.

The research seminar was not only an opportunity for PhD candidates to present their research, but also a platform for networking and fostering interdisciplinary collaborations. The engaging Q&A sessions and the intense discussions during the breaks provided valuable insights and generated thought-provoking ideas for future research endeavors. The exchange of experiences, methodologies, and perspectives among the participants fostered a stimulating intellectual environment, nurturing innovation and pushing the boundaries of knowledge. In the words of Prof. Dr. Kathrin Möslein, Friedrich-Alexander-UniversitaetErlangen-Nuremberg (FAU), Germany, the research seminar was a real innovation booster.

The research seminar was also an opportunity for the guests from Germany and Austria to get to know better the Italian culture. In addition to the pre-conference and conference dinners on May 4th and 5th organized in authentic Italian restaurants where the partcipants could enjoy the richness of the Italian cuisine, the research seminar’s program also offered a guided tour on May 5th in the city of Milan, starting from Corso di Porta Ticinese, 35 in front of Basilica di San Lorenzo and ended up at the conference dinner restaurant.

In conclusion, IVC2023 benefited from the passion and dedication of all participants in the fields of innovation and value creation. The presented studies provided a solid foundation for future advancements, in the areas of digitalization, open innovation, and sustainable practices as catalysts for economic growth and societal well-being. At the end of the event, the next seminar’s location has been announced. The IVC2024 will be organized at the University of Applied Sciences Erfurt by Prof. Dr. Sabine Brunner and her team. We look forward to the next edition of this research seminar.

RITESSERE: silk by-product reborn into new materials

Recovering sericin to produce high-tech materials, in a circular economy perspective


The RITESSERE (Silk Sericin materials from textile industry by-products) project has kicked off, and it aims to use the by-product from the treatment of raw silk, sericin, for the production of new materials and devices in the field of life sciences.

RITESSERE will evaluate new technologies which, starting from the sericin obtained from raw material of Italian origin with traceability certification (cocoon or raw silk), will lead to the obtainment of both two-dimensional electrospun matrices composed only of sericin, and new materials based on specifically modified sericin. These products will be characterized from a chemical-physical and morphological point of view, and the impact of their introduction on the textile industry market and on other high-tech sectors will be analysed.

In particular, the advantages of the circular approach will be demonstrated through three actions:

  • sericin-based facial masks for the cosmetic industry
  • three-dimensional scaffolds of sericin for cell culture
  • modified sericin-based film for the packaging industry.

RITESSERE aims to demonstrate how sericin can be systematically recovered and used to produce high-tech materials. Starting from silk of Italian origin, RITESSERE will define and optimize a technological process aimed at giving nobility to this waste product, proposing a new sustainable and circular method for the silk production cycle.

The results of the project will also be conveyed and made available through continuous interaction with the Advisory Board, made up of players with a driving role in the silk industry, in the definition of new circular economy practices and in the involvement of civil society (Associazione Costruttori Italiani di Macchinario per l’Industria Tessile, Donne in Campo, Ufficio Italiano Seta, MADE-Competence Center Industria 4.0, Rigano Laboratories, Associazione per il Museo della Seta di Como).

The three-year project RITESSERE is a project funded by Fondazione Cariplo with the Economia Circolare – Promuovere ricerca per un futuro sostenibile program, and is led by professors Paolo Rosa and Sergio Terzi of the Department of Management, Economics and Industrial Engineering and by Professor Simone Vesentini of the Department of Electronics, Information and Bioengineering of the Politecnico di Milano.

The Department of Management, Economics and Industrial Engineering, will deal with the economic analyzes of the sericin market, the silk sector and the current circular strategies adopted in the textile sector.

Partners in the project, coordinated by our university, are Università degli Studi Milano Bicocca and Consiglio per la ricerca in agricoltura e l’analisi dell’economia agraria (Council for Agricultural Research and Agricultural Economics Analysis).

HumanTech: a new ambitious research project for the next five years

Our department has been awarded the “Department of Excellence” grant  for the HumanTech – Humans and Technology project, that aims to redesign the relationship between technology and people for a sustainable digital transition of the industrial systems.


Federico Caniato, HumanTech Project Manager


HumanTech – Humans and Technology is the project proposal of Politecnico di Milano ‘s Department of Management, Economics and Industrial Engineering of, which has been selected and financed by the Italian Ministry of University and Research (MIUR) for the 2023-2027 period as part of the “Departments of Excellence” initiative.  The initiative rewards departments that stood out for the quality of their research and funds specific development projects, to support further growth and the achievement of ambitious research goals.

Ours is among the 180 Italian departments funded, across all scientific disciplines, and ranked first within the Industrial and Information Engineering area nationwide.

The HumanTech project aims at redesigning the relationship between technology and people for a sustainable digital transition of the industrial systems. The project is driven by  the pressing need to evolve the current technological development model from maximising the economic result towards a more harmonious form that, in addition to the financial -economic implications, also takes into consideration human, social and environmental ones.

Within the industrial systems, the new digital technologies pose formidable challenges, by virtue of their transformative capacity, their diffusion speed, and their pervasiveness, as they interact with these multiple dimensions. In this context, the project aims to propose new development models and processes capable of accelerating the transition towards industrial systems that are sustainable, inclusive, and attentive to the individual and collective well-being.

The project will investigate the complex relationship between people – considered in both their individual and social dimensions – and digital technologies, according to three main research lines:

  1. Digital technology development models and processes centred on the person. This theme will focus on how technologies are developed, to ensure that they are human centred since the very beginning.
  2. Resilient and sustainable production, logistics and supply chain processes enabled by digital technologies. This theme will investigate how innovative digital solutions can support the transformation of value chains to become regenerative and human-centred.
  3. Organisational models and work systems enabled by digital technologies and centred on the person. This theme will focus on the work environment, to develop digital technologies that support and empower human labour, benefitting both individuals and organizations.

The three research themes cover in a complementary and synergistic way the different levels in which the person-technology relationship affects the key features of industrial systems, i.e., the development of technology and its adoption in the transformation processes of organisational systems and in the reconfiguration of work systems.

The overall goal is to conduct ground-breaking research that will result in both scientific, educational and societal impact, assessed according to a number of specific indicators, to achieve ambitious targets in all of them.

The project will fund the development of three innovative infrastructures that will enhance frontier research in the three research areas:

  1. Behavioural Research in Immersive Environment Lab, for carrying out experimental research on human behaviour in physical, virtual and hybrid environments (e.g. metaverse and immersive virtual reality).
  2. Cognitive Ergonomics in Cyber Physical Systems Lab, for carrying out ergonomic, behavioural and cognitive studies in highly digitalised production contexts (e.g., cobots, virtual and augmented reality, exoskeletons).
  3. HumanTech Data Hub, a data repository for the professional and integrated management of the research data, including both the existing resources and those to be generated in the two new laboratories.

The project will also support the recruitment of additional faculty and administrative staff to complement the existing competences with new ones, not only in Management, Economics and Industrial Engineering, but also in Industrial and Organizational Psychology and Cognitive Ergonomics. In addition, PhD scholarships and new dedicated courses will also be funded, to develop research skills and competences.

The combination of existing and new competences, as well as the new infrastructures, will allow frontier research to be conducted, in order to achieve breakthrough results, which will be disseminated extensively to students, companies, policymakers and society in general, aiming to foster a systemic change in the way digital technologies are developed and adopted, pursuing individual and collective well-being.