Meet Oxford Saïd’s MBA Class Of 2024

Capitalism has become almost a dirty word. It is associated with inequality and exploitation, blue blood entitlement and stockholder greed. Privilege and indulgence, narrow and biased, systemic and indifferent – its advocates always out for profit and out for themselves. For some, capitalism is the unseen force that drives the biggest problems: poverty, climate change, scarcity, and violence. As the stakes grow higher, some MBAs are looking to refine how capitalism operates and who it serves.

“Our world is plagued by greed, inequality, and uneven power balances,” explains Farah AlZu’bi, a member of the Class of 2024 at the University of Oxford’s Saïd Business School. “[This] makes it more important than ever to have diverse representation among business leaders, who have the courage and foresight to stand for what is right.”

LIKE A STARTUP IN A FORTUNE 100 COMPANY

That’s why it might surprise some how the Saïd Business School has moved to the forefront of reforming capitalism. After all, the University of Oxford itself traces its lineage back to 1096, centuries before the Enlightenment and Reformation. The university has since emerged as the establishment, home to Nobel Prize winners and Nobel laureates, Catholic saints and literary wunderkinds – the alma mater of Stephen Hawking and Adam Smith, the birthplace of penicillin and the guardian of the English language. In contrast, the Saïd Business School opened in 1996, a startup backed by the intellectual and finance resources of one of the world’s most prestigious universities.

This distinction has freed Saïd to establish a different kind of curriculum, one guided by social responsibility, sustainability, and ethical leadership, adds Farah AlZu’bi. That attracts a certain type of student: the champions, out-of-the-box thinkers and disruptors who are destined to address issues more holistically as future managers, entrepreneurs, and investors. Case in point: Hannah Arrighi. For her, Saïd’s programming “bridge[d] the gap” between her dual interests in social impact and finance.

“Many people look at money as an evil that only “bad” people care about or accumulate,” she observes. “Many others look at it as an end in itself. The reality is much more nuanced – wealth is a tool that can help us achieve our dreams and improve our communities, and it’s neither the devil nor a complete destination. Oxford’s MBA acknowledges that making money and making a positive effect in the world are not mutually exclusive, and its impact focus puts business and the power of wealth in the context of broader societal issues.”

A MODERN EDUCATION IN A CLASSICAL SETTING

In some ways, you could describe Saïd as the business school for idealists when they’re finally ready to get their hands dirty. Forget simplistic slogans and indulgent posturing. The Saïd Business School shows students how the world works and how to execute their ideas so they can make a real difference. That approach left a deep impression on Hannah Arrighi, who was admittedly a ‘change the world’ type as an undergrad.

“I’ve spent much of my adult life getting progressively more disillusioned, not just because our systems are entrenched for a reason, but also because getting older and learning more has also meant that I’ve become more aware of my own ignorance,” Arrighi explains. “What should the world even look like? And who am I to make that assessment? In that lack of clarity, I’ve found it easy to absolve myself of the responsibility to ask how I could overcome it. Being on the MBA here has helped me think bigger again. We have several modules at Oxford that acknowledge the complexity of systems change while still offering tools to think through how it could be possible. I like how the focus has been on exploring the stakeholder landscape and asking questions rather than getting to a concrete answer. Business is arguably more powerful than politics when it comes to shaping the world’s power structures, and I’m glad this is something the school takes seriously.”

For MBAs, this mindset can be quite a jarring in contrast to their surroundings. Think cobblestone paths, tranquil rivers, wide courtyards, towering spires, medieval chapels, narrow passageways, and wide halls: Gothic, Classical, Modern – elegant, iconic, timeless. Picture rivalries settled in rows along the River Thames; three course dinners served in Hogwarts-styled college halls; and students scurrying across campus, decked out in full academic garb for an exam or Latin tradition dating back to King Charles I. In reality, the University of Oxford has always been at cutting edge, be it training international students, establishing a university press, or popularizing debate. And the Saïd Business School curriculum is another reimagining of a body of knowledge to fit the needs of modern times.

“I chose Saïd Business School because of its progressive curriculum that addresses the current structural issue with shareholder capitalism,” writes Edo Prayogo, who joined the Class of 2024 from Kearney. “I like the fact that even a traditional business course such as Management Accounting includes a discussion about the history of how short-term profit maximization became a central guiding principle of corporations around the world – and how accounting and reporting are evolving to address the issue.”

SAME INTENTION, DIFFERENT LANGUAGE

At Oxford, Kate French is pairing her MBA with a Master of Science in Water Science, Policy and Management. During her year at Saïd, she has gained a huge epiphany: the public and private sectors do care about the same issues. “[They’re] just using different vocabulary,” she adds, which results in many points of agreement to addressing issues being missed. As a result, the Class of 2024 is pursuing a different kind of bottom line: one that fuses the need to turn a profit with a purpose of leaving a better world.

“I realize that there is an alternative to shareholder capitalism and short-term profit maximization as the primary guiding principle of a corporation,” adds Edo Prayogo. “Amidst the multiple crises of our time, (from extreme poverty and inequality, to climate change), the Oxford SBS program has helped me see ways in which the current state of capitalism must and can change. I believe that MBAs have the responsibility to contribute to solving the systemic and collective challenges of the 21st century.”

Before enrolling at Saïd, Prayogo tackled one of this century’s most pressing issues: Energy consumption. As a consultant, he led a project that enabled an energy firm to adopt “best-in-class” practices that produced a $37 million dollar savings…annually. As an MBA student, he also realized his childhood dream of opening a library and bookshop café in his native Indonesia with the help of friends.

“[We were] building the business plan, curating book collections, and designing the interior,” Prayogo writes. “Finally, we launched a public opening of our independent library/ bookshop café, The Room 19, in early December last year and has received so much support from the customers and local communities. We regularly held events such as book talks, art workshops, and writing workshops. We have a big ambition to expand and scale our café into an independent literary and cultural centre in the future.”

CHANGING THE PERCEPTION OF MENTAL HEALTH

You could say the Saïd MBA Class of 2024 personifies the ‘Do Well by Doing Good’ ethos. Most recently, Adam Hegedus served as the managing director of Educating the Future, an Australian NGO that funded early childhood education. As a venture capitalist, Adeyemi Adegbayi supported African entrepreneurs. In India, Drishti Basi found her calling in urban sanitation for underserved populations. As a teenager, Diana Chao launched a nonprofit, Letters to Strangers, designed to reduce the stigma around mental illness.

“I started it as a student club when I was 14, and ten years later we are the largest global youth mental health NGO, directly impacting over half a million youths in 70+ countries,” Chao says. “I was honored by two U.S. Presidents at the White House, which is certainly something that I never imagined would be possible. More than that, I can see the tangible change we’re creating in people’s perception of and treatment access to mental health concerns. That’s my promise to my younger self, and what I hope will make my older self proud.”

At PwC, Farah AlZu’bi was considered a “Mountain Mover.” That’s the award she received for personifying the firm’s values and delivering impact to her clients and society and large. In contrast, Hannah Arrighi made her impact in politics, managing hundreds of volunteers in campaigns that resulted in two incumbents being unseated in favor of candidates she believed “genuinely cared about their districts.” It wasn’t necessarily the victories that brought her the greatest satisfaction, she admits.

“It was seeing hundreds of volunteers engaged in the community. I had the privilege of watching deep friendships form that wouldn’t have existed if not for these campaign events. In a society plagued by loneliness in a sea of people, I often think back to this period of my life for clues about how we might be able to bring communities together. I would love it if we could find a way to do so without the divisiveness inherent in modern-day politics.”

FAMILY BUSINESS FEATURED IN A DOCUMENTARY

For Mariah Greenstreet, a self-described “adrenaline junkie”, impact has been a family affair. Her family runs Mansa Gold, a rapidly-growing “bean-to-bar chocolate company” – one that has garnered attention far outside Africa.

“Our success has been further highlighted in a documentary feature on how ‘Ghana’s Chocolatiers are Reclaiming Cocoa’,” Greenstreet adds. “Mansa Gold will particularly always hold a special place in my heart by being a 70% women-run business. We have an unwavering commitment to employing, supporting and empowering as many women in our workforce as possible.”

The class also left its mark in banking. Peter Erskine, a classically-trained singer, worked as a trader for the Chicago Trade Company, where he managed one of the firm’s largest books remotely from London. At the same time, Shahbaz Merchant’s team oversaw the Indian Insurance sector for Nuvama Wealth, which holds nearly $3 trillion dollars in client assets.

“I eventually found myself leading coverage of the sector, and took charge of all relevant interactions with the equity sales team and with clients,” Merchant notes. “Being able to take lead on a sector so early on in my career as an analyst was a key accomplishment. It not only served as testimony to the trust my seniors placed in me, but I also gained further conviction in my own abilities, learned tremendously from the experience, and discovered my preference for being a generalist and looking at sectors hitherto untouched by me.”

LEARNING FROM TOM HANKS

Such interests extended into business school, where Adeyemi Adegbayi started Saïd’s Venture Capital Club, even conducting workshops that drew over 100 classmates. While creating something from nothing is quintessential Oxford, the Class of 2024 also delved into equally traditional fare. They joined colleges, academic communities that bring together undergraduate and graduate students from across all of the university’ disciplines. This year, you’ll find MBAs attending 25 of Oxford’s 39 colleges, which typically house 300-500 students and provide their own dining halls, common rooms, and even libraries and computer labs. While college names like Christ Church and Trinity bring prestige to a CV, the actual interactions result in diverse and unforgettable interactions, says Peter Erskine.

“The great thing about the college system at Oxford is that you are able to connect with students outside of the Business School. During my first week, I was sat at a formal dinner next to a first-year Doctoral student studying epidemiology and disease control who had spent the last three years working as a Research Assistant for the people who made one of the COVID vaccines. Just being able to speak with someone who has had such an impact on the world, at such a young age, was incredibly humbling and awe-inspiring. I’ve also met former Olympic gold medalists, people who own their own companies, influencers, and there are countless other examples I could describe.”

Erskine, a member of the Exeter College Choir, is particularly bullish about MBAs receiving lifetime membership with the Oxford Union. “[It is} the university’s debate society founded in 1823. Each year, The Oxford Union invites academics, politicians, celebrities to debate and speak to its members. Since my time at Oxford, I’ve been able to attend debates and events featuring former US Speaker Kevin McCarthy, Camille Vasquez, Geri Haliwell, Caster Semenya, Sir Roger Penrose, Nazanin Zaghari Ratcliffe, Stefano Domenicalli and best of all, Tom Hanks. These, often off the record events, allow us to engage with some of society’s most influential people in a direct way. It is truly an incredible experience that Saïd helps facilitate.”

In fact, Tom Hanks’ visit to the Oxford Union was particularly memorable, says Diana Chao. “Emma Watson, a fellow student at my college – Lady Margaret Hall – walked in and Tom stopped, introduced her to everyone – as if we needed an introduction – and then went right back to giving us an impromptu acting lesson.”

WHY MATRICULATION MATTERS

Kate French adapted to her new surroundings rather quickly; she captained her college’s boat club and raced in London’s Tideway. Drishti Basi can remember racing around town searching for a white carnation – a traditional accoutrement for a first exam. In Mariah Greenstreet’s case, the “winning” Oxford moment came when she joined her MBA classmates to indulge in the ‘complimentary shot’ tradition at the Wadham College bar.

“A free shot may seem easily achievable at first glance, but here’s the catch. Alongside the beverage, one must graciously accept an aggressive slap and a splash of water to the face from the delightful barmaid as an act of deference. Just to clarify my position, I quite wisely chose to play the role of a saintly facilitator, not participator.”

For many class members, Matriculation remains the highlight of their year at Oxford. Imagine a Harry Potter cosplay, a city full of students in formal academic robes headed to the Sheldonian Theatre to partake in history. During this university-wide ceremony to kick off the academic year, MBA candidates join a centuries-long lineage that represents something truly profound – a community committed to intellectual growth, personal excellence, generous service, and global transformation.

“Matriculation is by far the most classically “Oxford” experience I’ve had here,” says Hannah Arrighi. “Before we left our apartments on matriculation day, we dressed up in a penguin-like outfit called “subfusc,” which in my case included a white shirt, black skirt, academic gown, black tights, and ribbon necktie. Then, we all shuffled into the Sheldonian Theatre, which is a baroque building designed by Christopher Wren; heard some unintelligible phrases in Latin; took more photos than paparazzi during fashion week; and went to the pub – then stayed there.”

Next Page: 12 MBA Profiles Plus An Interview with Amy March, Associate Director of MBA Programme Delivery