313 Master’s degrees awarded On 6 October 2012, 313 graduates were awarded the degree of a Master of Arts (M.A. HSG) on the occasion of the Masters’ Graduation Day at the University of St.Gallen. 6 October 2012. The total of 313 graduates obtained their Master’s degree certificates in the following programmes: 29 in International Affairs and Governance 18 in Law 19 in Law and Economics 61 in Banking and Finance 29 in Information, Media and Technology Management 54 in Marketing, Service and Communication Management 9 in Quantitative Economics and Finance 55 in Accounting and Finance 23 in Strategy and International Management 16 in Economics “Leadership tasks have become more fascinating” In his address, President Thomas Bieger spoke about different styles of leadership. He reminded the graduates that they would soon assume leadership tasks. These tasks have not become easier in comparison with earlier times, but possibly more fascinating. According to Bieger, executives are challenged by increasingly faster structural rifts. Within days, markets can collapse, and nations or firms no longer receive any credit. Often, there is not yet any way of knowing in which direction a change will thrust. We only know that something is afoot, but we do not know when and where it will emerge. The cause of this is frequently that systems are too rigid. It is like boiling water: “If the pot is open, the steam constantly escapes. A sealed pot, however, suddenly explodes.” Leadership – from management to guidance Bieger said that in terms of leadership, the concept of “managing” still predominates: defining objectives, taking and implementing measures and monitoring and assessing results. Generally speaking, however, management is so strongly formalised in many areas that it has lost its impact on people who are learning. Formalised, multi-level and excessively structured processes paralyse many organisations and enterprises today. People learn how to deal with such systems, but unfortunately often only by adapting to them. Thus the concept of leadership focuses on actors who drive organisations forward with personal responsibility and target orientation, who have these organisations under control and dominate them. For this concept, Bieger likes the term “guidance”: This term places leaders in the role of guides “who enable people in their environments to experience and discover things and to move around on their own responsibility”.