Simon Mercado, the Dean/Director of ESCP Europe Business School (London), in an interview to TopMBA provides some of the answers.

ESCP, an international business school has, over the past 200 years, grown from its roots in France to a pan-European institution with campuses in Berlin, London, Madrid, Paris, Turin and Warsaw.

Ahead of Brexit, the school has organised ‘Rethinking Europe’ events, a series of talks focusing on its impact on the higher education sector and beyond.

Mercado says that according to most schools, a full EU member status makes it easier to sell courses internationally, access other EU markets as providers, and employ and/or collaborate with European experts.

It also opens critical funding streams for research (for example, Horizon 2020, the biggest EU Research and Innovation programme ever with nearly €80 billion of funding available over 7 years from 2014 to 2020) and opportunities for faculty and students to gain international experience through longstanding programs (for example, Erasmus+ funding to work with partners in other countries to deliver their projects).

This has a positive impact on our academic standards and our economic and social contribution. Some benefits can be felt outside of the EU but are subject to negotiation and a softer form of Brexit, he points out.

About ‘Rethinking Europe’ event series, he said it was inspired by the late Mme. Nicole Fontaine, former President of the European Parliament, who worked closely with ESCP Europe in developing the book, Brexit: An Opportunity? Re-Thinking Europe. It was inaugurated in November 2017.

Since then, events have been held at the London campus, in Westminster, and other ESCP Europe campuses, on themes like ‘Brexit and Migration’ and ‘Brexit and Higher Education’.

He said the students closely follow EU affairs. The school’s Start@Europe seminar on Master in Management (MIM) takes around 800 students to Brussels for a negotiation simulation each year.

Since the referendum in 2016, the school has widened its supporting executive development with companies such as Saint-Gobain besides working closely with the French Chamber of Commerce in Britain and its Brexit forum.

Asked if the effects of an impending Brexit was being felt in the London campus, he said there has been a loss of momentum in several business sectors, especially investment projects that have gone into limbo.

Confidence has been shaken over the future of the UK economy and graduate prospects, especially in a hard Brexit scenario, he added.

EU nationals on the faculty and administration teams were concerned over their future. Some of the students were confused about how the rule changes might affect them. Meanwhile, the fall in the value of the pound has given a little bit of a boost to student numbers.

As part a European school group with largely continental presence, ESCAP does not have the worries across UK Higher Education (UKHE) about issues like Erasmus+ participation, Horizon 2020 participation and possible international fee/visa status for EU nationals.

The major challenge will be to ensure the school continues to form a bridge between the UK and Europe. The school’s mission in the UK will remain focused on connecting the economies and management talent and on offering a home for those looking to invest in their European identities and in a European future.

The students cross borders as part of the same school and degree program. There is no dependency on inter-institutional mobility or Erasmus funding.

Asked what he felt were the biggest challenges the school may face in the post-Brexit UK, he said ESCAP’s ability to offer world-class rotational degree programs that move students from one European location to the next was massively assisted by the European market framework.

A constant cross-border flow of students, faculty, capital and educational service is eased by the basic freedoms of the Single Market and the mutual recognition of educational qualifications.

A softer variant of Brexit will help, especially one committed to preserving freedom of movement for young people for the purpose of education and training, he added.

The major challenge will be to ensure the school continues to form a bridge between the UK and Europe. The school’s mission in the UK will remain focused on connecting the economies and management talent and on offering a home for those looking to invest in their European identities and in a European future.

ESCP Europe was in a unique position to provide a place where European identity can be built as well as a point of entry to European higher education. The school will be able to function as a centre of expertise in Europe and as a connection to the continent, especially for the UK business community and for young people proud of their European identity.

Mercado holds the school’s international outlook as pivotal to its success. With a presence in six countries, rotational degree programs and commitment to international management education, ESCAP has a clear and distinct mission focused on the production of tomorrow’s international business leaders skilled at preparing participants for “connected” business futures.

Its approach to management education consciously blends humanities, languages and management education to produce graduates with a deep understanding of the role of business in society and an ability to manage across cultures, he added.

being an international business school with a strong sense of European identity,  all the students’ attend classes in at least two ESCP Europe campuses and are taught by faculty integrated into European academic departments.

Student flow between campuses has never been stronger. This year 1,500 students will complete study blocs at the campus in London. The school has European students mixing with those from the Americas, Africa and Asia.

International students contribute to a diverse student body and thriving society, culture and economy – on campus, in the city and across the UK.

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With the UK referendum result in favour of leaving the EU, association of Universities as well as individual institutions have rushed in to reassure students, faculty and others that efforts would be made to lessen any adverse impact on the sector.

The result has led to considerable dismay and concern in higher education circles who foresee not only a significant drop in international students and faculty but also the drying up of funds and collaborative projects from abroad.

The vote is also expected to adversely affect the employment potential of the sector. An open letter by the heads of 103 universities stated that every year, the universities generate more than £73 billion for the UK economy that includes £3.7 billion from students on the rolls from EU countries, while supporting nearly 380,000 jobs.

The result has led to considerable dismay and concern in higher education circles who foresee not only a significant drop in international students and faculty but also the drying up of funds and collaborative projects from abroad.

As far as the students are concerned, some 75% in the age group of 18 to 24 voted Remain, compared to around 40% of over 65s.

Significantly, The UK has 14 of Europe’s top-ranked business schools that get more students from other countries with the proportion of British students having dropped from 58% in 2007-08 to 49% at present. Also, most of the top School’s faculty is from outside, in the case of Oxford Said, it is upto 60%.

Meanwhile, Dame Julia Goodfellow, President of Universities UK, a 133-member representative organisation for universities pointed out that leaving the EU would create significant challenges for universities.

“Although this is not an outcome that we wished or campaigned for, we respect the decision of the UK electorate. We should remember that leaving the EU will not happen overnight – there will be a gradual exit process with significant opportunities to seek assurances and influence future policy,” she added.

“Throughout the transition period our focus will be on securing support that allows our universities to continue to be global in their outlook, internationally networked and an attractive destination for talented people from across Europe. These features are central to ensuring that British universities continue to be the best in the world,” Goodfellow said in a statement.

She said UUK’s first priority would be to convince the Government to take steps to ensure that staff and students from EU countries could continue to work and study at British universities in the long term, and to promote the UK as a welcoming destination for the brightest and best minds.

“They make a powerful contribution to university research and teaching and have a positive impact on the British economy and society. We will also prioritise securing opportunities for our researchers and students to access vital pan-European programmes and build new global networks,” she added.

Professor Sir Leszek Borysiewicz, Vice-Chancellor of the University of Cambridge said there would be no immediate change to the University’s teaching, research and other activities.

While the impact of leaving the EU will have on UK policy on higher education tuition fees, loans and bursaries is not yet known, he said undergraduate EU students already studying at Cambridge or who have an offer to study at the University or who apply in 2016 to start their studies in 2017, will continue to be charged the UK fee rate applicable at the time, provided this continues to be permitted by UK law. The fee rate may be subject to increases, which may be annual.

“The University will work with the Government to ensure it takes steps to ensure that staff and students from the EU can continue to work and study in this country. Cambridge thrives as part of a wide international community of academic staff and students, and we remain deeply committed to global cooperation and our dedicated staff who come from all over the world,” he added.

Imperial College President Alice Gast and Provost James Stirling in a statement to the staff and students, said, “Imperial is, and will remain, a European university, whatever your view of the referendum outcome. We are very proud of the innovations, ideas and inspiration that come from the European members of Imperial’s global community.

They said political changes would not hold Imperial back from delivering excellence in research and education for the benefit of global society.

“Our European students, staff and partners are crucial to the current and future success of this great university, and we look forward to continued strong ties with Europe and the world over the coming years,” they added.

“We are urgently seeking clarification from the government on the visa and fee status of non-UK European Union students, as well as other key policy areas for the College as the UK negotiates its future relationship with Europe,” they said.

Imperial College faculty had, in collaboration with peers from EU countries, produced more than 60,000 research papers.

National Union of Students President Megan Dunn said as Higher education receives considerable funding through EU institutions, this result will place significant pressures on the universities.

Meanwhile, job prospects for MBAs could also take a hit with PwC estimating that 100,000 jobs could be lost. As many as 1.1 million are employed in financial services across the UK. Overseas banks using the UK as a base for accessing the EU market. have an estimated 115,000 employees. (Image Courtesy : pixabay.com)

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