School welcomes distinguished Public Value advocate

Professor Timo Meynhardt leads academic workshop alongside Cardiff Business School’s Dean.

Professor Martin Kitchener, Dean and Head of Cardiff Business School, welcomed Professor Timo Meynhardt to the Postgraduate Teaching Centre on Tuesday 19 April 2016.

Professor Meynhardt is a leading expert in the field of Public Value. He is the Managing Director of the Centre for Leadership and Values in Society at the University of St. Gallen, Switzterland, and holds the Dr Arend Oetker Chair of Business Psychology and Leadership at the HHL Leipzig Graduate School of Management, Germany.

This is the third Public Value workshop delivered by the Business School since the launch of its Public Value strategy in late 2015. The workshops are designed to raise awareness of the Public Value philosophy and facilitate learning about its role and significance in the contemporary global business world.

More than 20 colleagues from across the University, as well as representatives from the Welsh Government and the Federation of Small Businesses, joined the workshop to hear Professor Meynhardt articulate his approach to Public Value and share his insights of embedding the ethos within business and management disciplines.

The workshop inspired a lively debate amongst the assembled practitioners and demonstrated the high level of interest and engagement with the subject matter.

Professor Meynhardt’s primary focus is on an extended notion of value creation and that management practices and concepts (e.g. shareholder, customer and stakeholder value as well as corporate social responsibility) should be embedded within society as a whole based on their impact on the common good. He has previously proposed the Public Value Scorecard, which assesses the impact new business strategies or projects could have in terms of creating or destroying public value. It has been applied by leading companies such as Nestlé, Fresenius Medical Care and Mobiliar as well as FC Bayern Munich.

Another measurement and analysis tool informed by Professor Meynhardt’s research is the GemeinwohlAtlas or Public Value Atlas. The Atlas has been introduced as a regular measure in Switzerland and Germany to consider the societal benefit of domestic organisations.

Watch Professor Meynhardt explain Public Value for the common good and society.