Information from the board meeting 29 March 2017
In its meeting on 29 March, the Hanken Board approved of the financial statement of 2016. The statement shows a surplus of 2.0 MEUR, thanks to the positive outcome in the investment portfolio. The operative result shows a deficit of -0.9 MEUR, which however is better than the budgeted result. The balance sheet increased to 113.3 MEUR. The University Council will confirm the financial statement in May, after which it will be available on the Hanken web site. The Hanken Board also approved of the revised resource allocation plan and budget for 2017.
The Board also reviewed the complete strategy package, consisting of the long-term strategy Hanken2025, the sub-strategies for research, teaching and learning, HR, and marketing communication, as well as a strategic action plan for the period 2017-2020. The Board approved of all documents and authorised Rector to continue the work on establishing objectives and KPIs in the action plan.
As a final decision item, the Board had the new personnel instruction. After a long discussion on possible consequences of the new instruction, the Board concluded that the suggested instruction cannot be approved as such. The Board urged Hanken to develop the instruction especially regarding transition stipulations for current faculty, to define who should be included in the tenure track system as well as evaluate the financial consequences for the different solutions.
The Board also discussed changes in the programme portfolio at the BSc and MSc levels and called for more background information. The Board also requested Hanken to begin planning the programme portfolio earlier, so that the Board can discuss possible changes already at the turn of the year. The Board will make a decision on the programme portfolio for the academic year 2018-19 in an email meeting.
In her overview, Rector informed the Board that Hanken’s quality system has been approved by FINEEC and that the EMBA19 programme has started with 21 participants. Rector also informed that the amount of publications has increased to 361 and the amount of publications in JUFO categories 2 and 3 have increased from 61 to 85.