AIA Australia (AIA) has teamed up with the University of Melbourne and Melbourne Business School to engage Australian organisations in designing and delivering business education and applied research projects to solve challenges for the future of business.
The Institute for the Future of Business will serve as a concierge for several partners into the University of Melbourne and Melbourne Business School to help organisations obtain insight from experts across various fields. The institute will also provide educators with access to valuable insights from industry leaders who can assist in co-designing the curriculum, share their knowledge and expertise in the classroom, and further develop students through internship and mentoring.
Professor Paul Kofman, dean of the University of Melbourne's Faculty of Business and Economics, commented: “The Institute is innovative in that we are partnering with industry in a completely new way – not as a client relationship, but as a long-term strategic partnership.”
Professor Ian Harper, dean of Melbourne Business School, added: “Our goal is to transform both graduate business education and applied business research through deeper industry involvement while ensuring Australia's business sector thrives in what is an increasingly competitive global market.”
AIA – the Institute for the Future of Business's founding corporate member
As one of Australia's major life insurers, AIA teamed up with the university to enhance the wellbeing programs in its AIA Embrace ecosystem, led by its Shared Value and Behavioural Science Team. It will be the founding corporate member of the institute.
“We're excited to be leading the life and health insurance industry as a founding corporate member in the Institute for the Future of Business,” says CEO of AIA Australia Damien Mu. “At AIA, we apply a shared value lens for all our business decisions, which focuses on solving societal problems using a framework where there is value for customers, society, as well as AIA. This is a purpose-led way of operating that focuses on increased health awareness, prevention and upstream approaches to physical, mental, and environmental wellbeing, so people in our society can lead healthier, longer, better lives.
“The launch of the Institute for the Future of Business will provide new and unlimited opportunities for AIA to collaborate and develop sustainable and impactful programs and initiatives that will provide strong benefits for society.”
Some of the Institute for the Future of Business's key activities will include:
- A concierge service with a relationship management function working with corporate partners to find out what their core requirements are and what skills they require to match them with the most suited academics, centres, and departments;
- Co-design of curriculum, with academia seeking input from relevant industry experts to transform graduate business education in Australia, making it more relevant to students and ensuring students have the necessary knowledge to support post-qualification career pathways;
- Mutually beneficial applied research projects that have real-world impact and commercial value and help solve organisational problems that Australian businesses are facing; and
- Access to student talent for internships, mentorships, and potential employment opportunities following graduation. This will provide students with a richer experience and ensure they have the necessary experience and knowledge to support post-qualification career pathways.
The institute will launch in 2023 and plans to grow the number of corporate partners and foster more opportunities for collaboration. AIA's partnership with the University of Melbourne and the Melbourne Business School was announced after it took another step towards its sustainability goals by hosting a tree-planting working bee.