Saturday, April 28, 2012

What does drive institutional art collections?

Just along the Boston-based Charles River, the Sloan School of Management has built an extensive permanent collection. It also shows a considerable commitment to hosting public art. In keeping with the Percent-for-Art program of MIT - whereby up to $250,000 for each capital investment is put aside for procuring public art. Sloan now houses to several major public artworks.

‘Ring Stone’ by China’s Cai Guo-Qiang, the recent Percent-for-Art commission was chosen for its ability to metaphorically embody strong relations – both cultural and business – between China and MIT Sloan. An alumnus and also CFO of the College of William & Mary’s Mason School, Bob Mooney, points out the importance of their identity in selecting works for the new Miller Hall. The collection slows their pace and propensity to celebrate and reflect on their history” according to Mr Mooney, while inspiring them to think creatively and view things differently.


Mason’s collection, reflective in nature, is composed of donations from alumni and friends. It’s part of a broader student exposure to the liberal and diverse arts during their programs. While cultivating innovative thinking among students is an objective, art is fundamentally used for reminding students that imagination and beauty are important parts of our lives. Perhaps above all in a highly competitive job market, one cannot really under-estimate the significance of MBA students being interesting and multi-talented people.

John Quelch, the dean of Ceibs, also perceives a need for the humanities to offer a rounded and holistic business school experience. According to him, this need is acute in contemporary China. Young entrepreneurs there risk a sort of ‘spiritual vacuum’ while pursuing financial opportunities. In an effort to create a more creative campus, he is adopting a rather novel approach. Quite in contrast to the art trusts of several of its US counterparts, the business school is set to launch an art investment fund. It will be run an endowment.

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