27 December 2021
Article

SKOLKOVO’s 10-year Strategy: Become One of the World’s Top 20 Business Schools

SKOLKOVO School of Management has revealed its long-term Strategic Business Plan, which includes becoming one of the top 20 business schools in the world. The strategic goals will be achieved by tackling three main areas: Intellectual Leadership, Customer Centricity and Life-long Learning, and Sustainability, Growth and Experimentation.
SKOLKOVO’s 10-year Strategy: Become One of the World’s Top 20 Business Schools
Content source: SKOLKOVO Business School

The Intellectual Leadership block of the business plan includes goals for building world-class faculty, taking part in the international scientific agenda, and opening research centers on digital transformation and sustainable development. By 2030, more than thirty leading academics from around the world will have joined the School and the quantity of publications in FT-50 and Category-A journals will grow to more than fifteen per year.

The Customer Centricity and Life-long Learning block (continuous learning throughout lifetime) provides for systematic work to increase satisfaction of students covering their full educational life cycle at SKOLKOVO. This will be possible by building personalised learning journey for clients, creating a recommendation system, and launching a loyalty program, among other things. A unified standard for developing and implementing educational solutions will also be set forth, which will be used as the basis for transiting to the modular architecture of our portfolio.

The Sustainability, Growth and Experimentation block involves ensuring financial stability and designing fundraising mechanisms as well as establishing a special Endowment Fund for long-term financing of the School's strategic initiatives. This will allow SKOLKOVO School of Management to become a leading provider of technology-enabled education in management and business in Russia: 80% of revenue will come from programs in digital or hybrid formats. As per the plan, in the 2024 fiscal year, revenues will have reached $200 million and, over 10 years, the endowment fund will be $150 million.

Achieving these goals will require a transformation of the School’s business model. However, SKOLKOVO’s mission—“To empower and support leaders on their path to success, To inspire for transformation of the region and the world.”—and the School’s principles of openness to the world, entrepreneurial leadership, lifelong learning and continuous development, and partnership as a form of cooperation will remain unchanged.

Chairman of the Board Alexander Voloshin comments:

SKOLKOVO School of Management has achieved a lot in 15 years thanks to the hard work of the School’s founders, as well as its leaders, professors, employees, alumni and partners. Our strategic business plan for the next 10 years reflects our new and very serious ambitions, which depend on the accumulated potential of SKOLKOVO and its new opportunities, which, I am sure, are very great. The School’s team will need to take advantage of these opportunities, including by transitioning to a new client-centric model of work, with the personalization of educational tracks, proposing comprehensive solutions, and focusing on the individual and specific needs of very different clients.

Dean Yuri Levin notes:

SKOLKOVO School of Management is a globally recognized leader in business education in Russia. The School promotes the development of a market economy in the country and helps managers from the corporate and public sectors create trends, influence minds, and achieve great results. In carrying out its new vision, SKOLKOVO shifts the focus from products to the participants of its programs, their desires and needs, and expands its presence in Russian regions and abroad.

Director of Strategic Planning Alexey Khokhlov emphasizes the scale of the long-term goals of the business plan:

SKOLKOVO School of Management is already included in the top 50 best European business schools. In June 2021, the Board of Directors set ambitious new goals to achieve global leadership, and this will require significant efforts, including the transformation of the School’s operations. The path SKOLKOVO would travel and its current achievements were difficult to imagine fifteen years ago. This instills confidence that the 2031 strategy will also become a reality. I’m convinced that a very interesting decade lies ahead of the School.


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