Publishing Hopes & Fears Corporate universities A textbook case Women aiming Companies do it of innovation for the top for themselves FTbusiness education May 14 2012

Executive education rankings

www.ft.com/business-education/execed2012 2012

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Photo: ed robinson; illustration: raymond biesinger

Half of the 06 schools in the combined rank- ing (right) are upfront European

➔ Poll: schools compete for clients who switch even when satisfied

Essec in France has teamed up with Elle magazine to teach a short programmefor women. The course includes self-marketing, communicating with colleagues, preparing for maternity leave and return to work

➔Simply the best

The 13th annual FT ranking of custom- ised executive education programmes marks a remarkable achievement for one business school. Headquartered in the US state of North Carolina, Duke Corporate Education has topped the ranking for the 10th consecu- tive year. usiness schools looking to providers in future. Their The school is ranked among increase their share of the reasons vary significantly. the top five performers in 11 lucrative executive educa- Reputation is the most out of 15 criteria, and at num- tion market have cause important factor for par- ber one five times. Duke CE’s B for optimism. An FT poll ticipants, mentioned by 48 core strength lies in its prepara- reveals that more than half of commis- per cent as a reason why tion, programme design, and sioning organisations and participants they would attend a differ- the teaching methods and would consider switching schools for ent school. materials of its programmes. The future programmes – despite nearly While faculty quality was school has topped the ranking for these three-quarters liking previous providers indicated by 59 per cent of commis- three criteria for the past six years. enough to use them again. sioning companies as a reason for HEC Paris retains its place at Duke CE’s In a survey completed by more than potentially changing their provider, 44 heels, and is ranked second for the fourth 1,000 participants and clients who per cent cited the importance of cost. year in a row. However, the gap between undertook programmes in 2011, 52 Only a quarter of clients, however, said the top two has grown slightly in 2012 and 57 per cent respectively said they selected a school on the grounds of following the strength of Duke CE’s they would re-evaluate their course price. - Adam Palin performance.– Laurent Ortmans PHOTOS: DREAMSTIME; ALAMY; GETTY

➔ Top of the class

Faculty Women participants Aims achieved (Open ranking) (Open ranking) Joint: (Open ranking) Thunderbird Boston University School IMD School of Global of Management (US) and (Switzerland) Management (US) Overseas programmes Universidad Externado (Customised ranking) Duke de Colombia (Colombia) Corporate Education (US/ South Africa/UK/India)

FT.COM/BUSINESSEDUCATION 07 ➔ FINANCIAL TIMES EXECUTIVE EDUCATION2012 TOP The top 50 schools* 50 Custom Rank School Rank Open Rank 1 Iese Business School 34 2HEC Paris 29 3IMD 71 ➔ Management without borders 4Harvard Business School 92 5Esade Business School 412 6Center for Creative Leadership 614 7University of Oxford: Saïd 12 15 8 Fundação Dom Cabral 817 9Thunderbird School of Global Management 21 3 10 Insead 16 10 11 University of Chicago: Booth 21 6 12= IE Business School 10 24 12= Stanford Graduate School of Business 20 11 A class in 14 University of Pennsylvania: Wharton1720 Ethiopia about 15 London Business School 27 8 improving care 16 ESMT – European School of Management and Technology 24 13 for people 17 University of Virginia: Darden 32 5 with HIV 18 Cranield School of Management 15 24 19 Columbia Business School 19 23 xecutive educa- with locally trained recruits, 20 Ashridge 11 35 tion programmes and flashy teaching materi- 21 University of Western Ontario: Ivey 30 18 usually involve als with workbooks, audio 22 Boston University School of Management 548 expensive faculty, toolkits and radio pro- 23 Northwestern University: Kellogg 36 22 E prestigious facili- grammes in local languages. 24 UCLA: Anderson 33 26 ties and highly paid execu- The aim is to develop 25 SDA Bocconi 23 32 tive students. The Center for affordable and accessible 26 IAE Business School 25 38 Creative Leadership is turn- short programmes, says 27 Insper 29 32 ing this on its head by taking Steadman Harrison, CCL’s 28 University of Michigan: Ross 55 16 the principles of manage- Africa regional director. 29= Ceibs 39 29 ment development and “We’re meeting community 29= ESCP Europe 31 37 applying them to projects in needs on their own terms.” 31 Queen's School of Business 44 27 the poorest communities, for He cites a project in 32 University of Toronto: Rotman 58 19 the 2.5bn people who live on Mumbai, where CCL 33 Edhec Business School 26 49 less than $2.50 a day. works with local women 34 Stockholm School of Economics3442 This month, CCL will and midwives to improve open the Addis Ababa, Ethi- maternal health. Leadership 35 MIT: Sloan 60 21 opia, office of its Leadership is a “lever” for improving 36 Henley Business School 38 39 Beyond Boundaries project, these seemingly endemic 37 York University: Schulich 40 36 which works across Africa problems, he says. Another 38 University of St Gallen 51 30 and in India. It has slashed project in the Gambia aims 39 EMLyon Business School 28 52 the price tag on training by to teach young women about 40 MBS – Mt Eliza Executive Education 46 31 replacing expensive faculty HIV/Aids. - Della Bradshaw 41 Australian School of Business (AGSM) 42 44 42 Vlerick Leuven Gent Management School 45 41 43 University of Pretoria, Gibs 42 47 44 Aalto University 50 42 45 Incae Business School 54 46 Value for money 46 Católica Lisbon School of Business and Economics4851 (Customised ranking) 47 Nova School of Business and Economics4853 HEC Paris (France) 48 Tilburg University: TiasNimbas 46 56 49 NHH 69 40 50 Grenoble Graduate School of Business 53 58 Footnotes * This table is compiled from the scores underlying the Financial Times Executive Education 2012 open See keys (p25/27) and methodology (p28) for criteria enrolment and custom rankings, rather than the printed rankings; both sets of data are given equal weight, but the overall result is therefore not equal to the average of the two printed igures for each school.

FT.COM/BUSINESSEDUCATION introduction 08

Pieces of the action

➔ The short-course market is fragmenting. By Della Bradshaw

hen Yasirah Sakada- they would take it global. Although the van launched a man- pilot started small in South Africa last agement programme November, with just 33 managers, by for her colleagues the end of this year it will be taught in W at Absa, the South 13 African countries. In 2013, the pro- African financial services company, gramme will be extended to Barclays’ she harboured a secret ambition: that executives in Europe and beyond. the programme, though designed for a The extraordinary economic growth South African audience, might be taught in developing economies means they to the bank’s managers across Africa. are often leading the way in programme “We wanted a programme with long- commissioning – as in the case of Absa. term sustainability that would make a The result is that, after a three-year contribution to the continent,” she says. hiatus, business schools are now However, the human clawing back business from cash-rich resources specialist corporations and are rebuilding their did not envisage that portfolio of programmes. Barclays, Absa’s parent 59% In Europe, Spain’s Esade school company, would like the has seen business increase 10 per cent programme so much of commissioning in the past year, with growth coming companies and largely from Latin America, while at participants respond- London Business School Sabine Vinck, ing to the FT executive associate dean for executive education, education survey reports: “We’re delivering more of our cited “flexibility” as the programmes in China, India and the principal advantage Middle East.” of online learning In India, demand for executive programmes is growing rapidly, says Deepak Chandra, deputy dean of the Indian School of Business in Hyder- abad. “The rate of economic growth requires high-quality talent. The avail- ability of quality education in the past was not adequate.” “[The Chinese] are eager about doing business the western way” Carol STephenSon, dean, riChard ivey SChool oF buSineSS, onTario

Even in the US, where executive programmes have traditionally been delivered locally, it is a similar story. Mike Malefakis, associate dean for executive education at Columbia Busi- The ivey ness School, reports that up to 65 per school’s Carol cent of the school’s executive business Stephenson on is from outside the US, with growth a recent visit driven by countries such as Brazil and to london China. “I think there was a period ➤ 09 ILLUSTRATION: NICK LOWNDES; phOTO: jOhN WELLINgS introduction 10

fragmentation, says Vinck. “None of At ISB in Hyderabad, 30 per cent of “We make the distinction us has more than a 0.5 per cent share the $12m-$13m of annual business is [between customised of the market. What we all have to be with the government. The school has clear about is our identity.” recently signed a partnership deal with and open-enrolment While some providers have clear the Institute of Business Administra- courses] less and less” identities, such as Duke CE, which spe- tion (IBA) in Karachi for open-enrol- cialises in company programmes, or the ment and customised programmes DoMInIque TuRpIn, pResIDenT Center for Creative Leadership, which to be taught in Pakistan, to support oF IMD, sWITzeRlanD focuses on just one sector of the market, the thawing relationship between the many business schools are struggling governments of the two countries. “This when the larger US schools were a little to find their niche as they juggle degree relationship is our first and small step behind the game. We were adapting and non-degree programmes. to align us with this objective,” says MBA teaching for executive educa- Dominique In Switzerland, Dominique Turpin, Prof Chandra. tion. Now we understand we have to be Turpin of IMD president of IMD, believes his school is Open-enrolment programmes are much more proactive. The challenge is (above); Thomas increasingly clear about its role. “IMD also making a comeback at schools such how we get ahead of the game.” Robertson of is trying to position itself as a specialist as Ivey and Wharton. “The trend to cus- Duke Corporate Education – which Wharton (below) in global executive education,” he says. tomised education has now reversed,” designed the Absa programme – has It has recently opened an office in Sin- says Thomas Robertson, dean of the seen growth of 30 per cent over the past gapore and has plans to open two more Wharton school at the University of year, with 50 per cent of new business in Rio de Janeiro and Beijing. Pennsylvania. While only 35 per cent of coming from outside the traditional Not only do clients come from Wharton’s business used to be open- regions of the US and Europe, says different regions of the world, they enrolment programmes, that has now Mike Canning, the chief executive. now come from different sectors as risen to 45 per cent. “We’re growing fast in Asia and Africa. well. Two particular growth areas in Others, such as Prof Turpin at IMD, It is not only that there is hope there, developing economies are government believe the distinction between open- but there is an economic underpinning.” and state-owned enterprises. Canada’s While business has come back across Ivey school at the University of Western the sector – though Canning admits Ontario, for example, ran a year-long open enrolment is that for Duke CE it will be another year programme for the Agricultural Bank making a comeback: before the “glory days” return – it has of China. “They’re very eager about “The trend to customised come back in a different way. Competi- doing business in the western way,” says tion is increasing from unlikely sources, Carol Stephenson, education has reversed” as non-governmental organisations and the dean. ThoMas RobeRTson,Dean publishing companies join manage- Other ment consultancies and corporate uni- schools, such oF The WhaRTon school, us versities in taking on business schools, as Ashridge in all desperate for a slice of the action. the UK, are There is also increasing competition also seeing enrolment programmes and custom- from business schools in the emerging government ised ones is disappearing. “In terms markets, says Malefakis. business of marketing and sales we make this “Emerging market schools are quali- grow globally. distinction less and less.” tatively different The Absa programme in South from three or four Africa highlights a further trend: the years ago. There are need to train middle managers – wonderful schools tomorrow’s top executives. HR in China and Brazil 53% specialist Sakadavan believes that are going to this move is inevitable. be true competi- of companies and “Programmes used to tion. I think a lot of 47 per cent of par- focus very heavily on their US schools did not ticipants responding executives and on female understand how fast to the FT executive leadership. There was this could happen. education survey a real need to develop Much of the innova- cited a “lack of inter- something for the tion is coming from action with fellow needs of middle man- emerging markets,” participants” as the agers.” After all, she he says. main disadvantage of adds, “Leaders are The result is online learning becoming younger an extraordinary and younger.” B Photos: charlie bibby; daniel lynch

ft.com/BUSineSSedUcation View profiles of top deans at www.ft.com/ deans 11

Meet the dean ➔ Kai Peters aims to raise Ashridge’s profile as a seat of applied learning

ctors Russell Crowe and Faculty at Ashridge are differ- Getting the message across to Anne Hathaway may not ent from those at more traditional managers is part of Prof Peters’ A have the sort of manage- schools. Indeed, experience mission, in particular raising ment profile usually associated counts as strongly as academic awareness of Ashridge’s brand out- with business education, but references. This might be said of side the corporate world. Its low in April they were seen striding Prof Peters, too, one of the few profile has restricted the growth of through the woods surrounding deans not to have a doctoral its degree courses – especially the Ashridge, the UK school, where degree – he holds an MBA from full-time MBA, which has regularly they were filming the 2012 version Rotterdam School of Manage- enrolled fewer than 20 students, of Les Misérables. ment in the Netherlands, where and its masters programmes, For Kai Peters, chief executive he went from student to professor which specialise in coaching. The of Ashridge for eight years, it is and then dean. But he also owns, big question is how to grow these par for the course. and was managing programmes without losing the Film shoots, tours, The question director of, a German intimacy for which they are noted. weddings and confer- publishing company This year, the school will ences are part of the is how to and has worked with combine teaching on its package. Ashridge, grow degree IBM and Volkswagen, full-time MBA and near Berkhamsted, managing educa- executive MBA. Hertfordshire, argu- programmes tional activities. It can do this ably has the most without losing He has an interna- because the MBA impressive buildings tional pedigree that is targeted Kai Peters’ and grounds of any their intimacy reflects the global at more international business school, outlook of teaching mature pedigree reflects though this comes at a price. at Ashridge, where nearly 70 per managers the school’s Annual maintenance of the cent of business global outlook gothic buildings, designed by is outside the James Wyatt in the early 19th UK. German by century and previously home to nationality, Prof On video monks, princesses and Dunkirk Peters moved to Kai Peters talks with evacuees, runs to £2m. In reces- Canada aged four FT business education sionary times it is a cost that and lived there for editor Della Bradshaw would make most deans shudder. 23 years before about value for money Prof Peters, 49, says he could moving back to in the sector. Is the cost see “a precipice” when income Germany for two of courses justified? dropped from £39m in 2008 to years and then to Go to www.ft.com/ £32m in 2009. the Netherlands. business-education/ “The first five years [of his He came to the execed2012 appointment] were easy; the UK in 2003. second five years have been hell,” Prof Peters’ he says. “[In the recession] our interest in pub- clients all said, ‘We love you to bits, lishing influences his attitude to than the usual but we’re just postponing.’” management education. When 27- or 28-year- One of the best-connected and selecting faculty, he looks for old. The average most plainly spoken deans, Prof professors who write – not for age of full-time Peters is candid about the school’s academic peer-reviewed journals MBA participants is problems, and the consequences. but for applied journals, such as 36, while that of mas- Ashridge had to lay off 100 people, Harvard Business Review, where ters students is 46. including about 20 faculty. Ashridge faculty probably “I would like to build The school has turned a corner publish more often than their up some of these scaleable and expects to bring in £36m this counterparts from other top activities,” concludes Prof year. Prof Peters is recruiting again. European schools. Peters.– Della Bradshaw on management 12 simon caulkin

Losing their grip

➔Shareholders seem to have lost control of our companies – but did they ever really have it?

he epicentre of the seizure ownership is simply incompatible with makes it subject to looting.” The culprits that has put western capi- limited liability: it’s one or the other, have been top managers and short-term talism on life support is a not both. Legally, directors must take shareholders, acting out the roles allot- crisis of corporate owner- account of shareholders’ interests, but ted them by the comedy of ownership. Tship. As former US Federal their fiduciary duty is to Flash back to the 1970s, Reserve chairman Alan Greenspan the company. Sharehold- Shareholders when the feeling that lamented, shareholders not only failed ers own shares, which give shareholders were being to restrain the vaulting ambition of them voting and other no more own short-changed by compla- the bankers in the crunch of 2008, rights, but not ownership companies cent managers was cast by even though it was in their interest, of the company’s assets. In free-market theorists as a they egged them on. They have been short, says Charles Handy, than a punter “principal-agent problem”. no more effective in braking manage- the eminent UK business at Epsom It arose, they said, because rial pay. Overall, sums up Will Hutton, philosopher, shareholders managers – ‘agents’ hired chairman of the Ownership Commis- no more own companies owns the nag by shareholder ‘principals’ sion, the UK has done a poor job of than a punter on the 2.30 he is betting on to run the company – were stewarding its assets, harming the per- at Epsom owns the putting their own inter- formance of the economy as a whole. nag he is betting on. ests first. The answer was to pay them But the central plank of today’s cor- Shareholders at least partly in equity, thus aligning porate governance, that shareholders should have principals’ and agents’ interests. own companies and should therefore few qualms Not surprisingly, managers had few dictate the behaviour of managers, was surrender- objections and despite the shakiness of never as robust as presented. It can ing their its central ownership premise, agency no longer bear the weight of reality, claim. theory became the basis of governance. which is why attempts at reform, A final Doing what their incentives told them from regulating the banks to reining account- to, chief executives have cumulatively in executive pay, fall through. ing for reshaped not just their companies but Shareholders in UK companies the era the whole economy. To lever up the are overwhelmingly foreign based of share- share price (and their own salaries), or short term. Just 30 per cent are holder they bought back their own shares, did British and in it for the long haul. capi- deals and financially re-engineered Average holding periods, down to talism their companies. They cut spending on seven months from seven years in the – broadly research, so innovation stalled, exported 1970s, are still heading south: high- from the late jobs and functions, and dumped pen- frequency trading accounts for 70 per 1970s to today sions. In the final paroxysm of self- cent of equity order volume in the US – still awaits, but interest, the banking crisis, shareholder and 40 per cent in Europe, according to it is already clear the value turned negative – the average real the Bank of England. Where ownership balance sheet is ugly. return on UK equities since 2007 is -1.5 and interests are so divergent, expect- We have a good idea per cent, according to PwC. ing shareholders (what shareholders?) Power balance why shareholders have In his article, Wolf confessed he had to exert control is hopeless. Ownership done worse under share- no cure for the problem of corporate has been emptied of meaning. In Power, Inc. David holder capitalism than ownership. But the answer is staring us In any case, theory on the subject Rothkopf shows how the when managers were in the face. The first step to restoring is as rickety as the practice. According shifting balance of power supposedly feathering management to its proper stewardship to two law professors writing in that between religions, states their own nests. As the role is to abandon the myth of share- fiery leftwing organ Harvard Business and corporations has FT’s Martin Wolf acutely holder ownership. Amend governance Review, “the law provides a surprisingly shaped history over a observed earlier this codes to reflect the clear implication clear answer: shareholders do not own millennium. First religion year, the chief failing of of companies’ acts – the company is the corporation, which is an autono- then the state dominated the brilliantly successful the principal, not the shareholders. mous legal person”. As the late London – but does the corporation limited liability company Shareholders, closely followed by work- Business School professor Sumantra now have the upper hand? form is that “it is not ers, customers and society as a whole, Ghoshal pointed out, shareholder effectively owned. This would be the first to benefit. B Photo: ed robinson; illustration: andrew baker

ft.com/BUSineSSedUcation

➔ View profiles of top deans at dean’s column www.ft.com/ deans 14 Jordi Canals

History lesson

➔Germany’s postwar chancellor is a powerful example of good leadership

bservers who complain social progress depended on citizens’ Europe and its word was unreliable. He about the current state engagement. He paved the way to the also preferred a free, prosperous West of the European Union notion of co-determination of capital Germany seeking peace with France would do well to look back and labour in large German companies and integrated within western Europe, oto the years after the (Mitbestimmung), a contro- rather than a united but second world war, when Europe had versial law passed in 1951, Adenauer neutral Germany under been ravaged, millions of lives lost, with the support of the the Soviet Union’s over- aspirations shattered, rationing was unions. This brave move led understood sight. He reminds us of common across the continent and the to the unions renouncing important the importance of making menace of a belligerent Soviet Union the goal of state ownership, choices, the courage neces- loomed. The case of Germany was even an objective they shared decisions sary to do so, and the need more dramatic: it was defeated, divided with the Social Democratic mean difficult to explain the implications and had been annihilated physically Party (the opposition of different options. In an and emotionally. By any measure, those to Adenauer’s Christian choices era of hyperconnectivity, were circumstances worse than today’s. Democrats). A few years Twitter and mass market- Yet Germany flourished and by the later, the Social Democrats abandoned ing, political and business leaders seem end of the 20th century it was unified, Marxism, helping to modernise social- to have forgotten the importance of one of the world’s most prosper- ist parties across Europe. Adenauer arguing and persuading clearly. ous nations and a clear leader believed in free enterprise, but He believed that the division of in Europe. Under the understood that wealth creation Germany was the outcome of east-west government of Konrad had to be shared fairly. tension, not its cause. For this reason, Adenauer – the first He had a view about the he thought that the best way to reunite chancellor of the political design of West Germany was to work with France and new West Germany Germany and its rela- reunite Europe. He was aware that from 1949-63 – the tions with East Ger- dwindling Allied determination had country matched many, and worked hard allowed the USSR to swallow up much prewar gross to achieve his desired of eastern Europe. Adenauer became domestic product by outcome. He under- a staunch pro-European; he believed 1951 and tripled its stood that important a strong Europe was the best medicine income between decisions mean difficult for the recovery of both his country and 1949 and 1963. choices. We may not the continent. He was right. Winston Time Magazine agree, but what we expect In today’s politically divided EU, it Churchill (left) made Ade- from political leaders is to is time to remember that good leader- and Konrad nauer its man make their choices clear. ship makes a difference – leadership Adenauer of the year in Some historians argue that that uses a long-term perspective to 1953, calling Adenauer postponed the reuni- address problems, that lucidly presents Germany “a world fication of Ger- options to citizens, that puts national power once again”. many unneces- interests on a level with Europe’s, and Adenauer played a key role in the About the sarily – the USSR that has the courage to follow through recovery. His actions remind us how was apparently on decisions. good leaders can open up new ways columnist willing to offer These are not extraordinary quali- through example. Jordi Canals is dean of it in exchange ties. What made them extraordinary in Adenauer held fast to certain core Iese business school. for German Adenauer’s case was that he displayed ideas about the world, society and He is the author of neutrality – for them in the gloomiest of contexts. His humanity. He was convinced of the Building Respected the sake of West actions quickly generated trust among power of individual freedom, private Companies Germany’s suc- his citizens and in western European ownership, fairness and the social (Cambridge University cess. Adenauer countries, and West Germany became market economy. These ideas sprang Press, 2010), on the observed that the the driver of Europe’s recovery after the from his Christian roots and experi- role of companies after USSR had a his- war. People like Adenauer are today ences as a player in the German drama. the financial crisis. tory of violence more relevant for Europe and the world But he also realised that economic and across eastern than ever. B Photos: Keystone; charlie bibby

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Fresh outlook: Rajeev Chopra at Philips Electronics India’s offices in Gurgaon near New Delhi photo: simon de trey-white

ft.com/BUSineSSedUcation interview Lightbulb 17 moment

As chief executive of Philips Electronics India, Rajeev Chopra could not imagine going back to business school – until the company suggested it. So was it a good idea? By James Fontanella-Khan

Rajeev Chopra was always too busy to go back to school. Since he finished his MBA at Tulane University’s Freeman School of Business in New Orleans nearly 25 years ago, a fast-lane corporate career has taken him through several multinationals. So when it was suggested that the managing director and chief executive of Philips Electronics India should sign up for an executive training course, he was a little taken aback. The 49-year-old, who joined the company nearly a decade ago as a senior director before taking up his current post in 2010, was worried about being away from work for several weeks to return to business school for an advanced management programme. “The company encourages you to keep updating your- self,” says Chopra. “Honestly, if Philips had not encour- aged me I would have thought twice about taking five weeks off. It’s not easy to take five weeks off unless you have an employer who is encouraging you to do that. I can think of many companies that would say no.” ➤

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Chopra, who has 25 years of experience in the con- “The perspectives you gain, you tend to sumer, electronics and information technology sectors, apply directly or indirectly. In scenario having worked at multinationals such as Reckitt Benck- iser, Hewlett-Packard, Microsoft and Cisco Systems, planning you try to figure how things will had other concerns as well. “I had questions in my mind evolve in two or three years” about whether I’d be able to adjust to living on campus, doing homework,” he says. Once convinced, though, that going back to business Having five-star service on the ground at the school school would be a life-changing experience, he focused made the learning experience much richer, he says. It on looking for the best course. “There were many was not like going back to college and having to wash recommended courses; most were at European your own clothes and cook for yourself. universities. But I went through the various programmes “That’s a big plus,” says Chopra. “You don’t have to and chose Wharton.” run around looking to organise things. If you wanted baseball tickets or a train ticket over the hopra picked the Wharton School of the weekend you just had to drop in a word and it was University of Pennsylvania because it organised for you.” offered what he was looking for: thought- This meant the five-week course was the only thing provoking courses led by star lecturers. “I Chopra and about 40 classmates had to focus on. Part of wanted to get up to speed with the current the course was a revision of basic finance, which many of areas of thinking in my [field],” he says. those attending the programme were fairly familiar with, C“We’ve all read many books in our lives, although most welcomed the refresher. but what is the current thinking? The speed of the classes was impressive, however, says “A lot of the people whose textbooks I had read were Chopra. “Every day felt more like a week… it was incred- faculty members at Wharton,” he says. “It’s nice to read ibly intense: we started at 9am and finished at 7pm, then their work and have them in your classroom.” we often had reading to do overnight.” In particular, Ram Charan, the noted management Half of the course was based on lectures, while the author of Leadership in the Era of Economic Uncer- remaining part was focused on role play and working tainty and Execution: The Discipline of Getting Things with other executive students. “You finished class and Done, was the big name that led Chopra to pick then would get into a group with which you got a chance Wharton over its competitors. to interact, creating real-life situations that you could Once Chopra had selected the school and put in place find yourself in at work.” a team to take care of day-to-day business at Philips Studying alongside other executives, many operat- during his absence, he was able to focus almost entirely ing in sectors varying from banking to heavy industry, on the course. “The most difficult thing was getting over enriched Chopra’s overall experience. “Spending time the jet lag. I didn’t feel strange at all going back to school interacting, you keep picking up from your classmates,” once I arrived,” he says. “Everything was taken care of.” he says. photographs: simon de trey-white

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Back home: The high point of his experience back in school was The executive training course is not only about Rajeev Chopra shares spending class time with Charan. “We had a session with learning but is also a very good networking opportunity, his new knowledge Ram Charan that helped you think in a different way he says. After meeting some 40 senior executives from with staff eft(l ) at about things. I realised I needed to build skills in differ- around the world, including four Indians and 10 from 19 Philips’ Gurgaon offices ent areas. He spoke about having to anticipate things Europe, half a dozen from Latin America and the rest (below right), whose and how things are going to pan out.” from North America, Chopra has built a global network products include Back in India, Chopra has been putting into practice of contacts. lighting (below) much of what he learnt at Wharton, and he also spends Remaining in touch has been a challenge, however. time sharing his new knowledge with younger managers Wharton organises regular get-togethers in different at Philips. regions of the world that allow former students to stay “I try to apply some of the techniques I learnt on connected. “There’s one this summer in Jakarta, for the course. We had a session on scenario planning,” he example – I am trying to work out if I can go. It’s a net- says. “I’ve applied that a few times. The perspectives working opportunity for those who have been through you gain, you tend to apply directly or indirectly. similar stuff,” says Chopra. In planning you try to figure how things will evolve in Social media services have also helped to keep the two or three years.” learning and networking process alive since the course. One of the less obvious things Chopra learnt during “I am in touch with some of them through email,” he his time at Wharton was creating time to read. “Ram says. “Some of them came to India. It’s all become easier Charan spoke about how to catch up with your read- courtesy of LinkedIn. We’ve set up a LinkedIn group ing,” he says. Charan explained how he speed-read the with about 40 of us in it.” Financial Times, selecting and absorbing just what he So what would Chopra’s advice be to senior execu- needed. “It helps to read more. I used to read a lot, but tives who share his initial concerns about taking time out from demanding roles? “I would strongly encourage other executives to do this course. Once you get there you realise that it’s not such a big deal getting away.I managed pretty well – also thanks to my team in India, which gave me the space to focus on my coursework.” B

somewhere 10 years ago that habit went,” says Chopra. “One of the outcomes of Wharton is that this habit has returned. When we were done I came back with 30-40 course books. Over the past year I’ve been reading a lot.” The overall experience was rewarding for the Philips executive. “I found 80-85 per cent of the course had great relevance,” he says. “The 15 per cent that didn’t is probably because it was in areas that didn’t interest me all that much. “It’s difficult if you’re tailoring a course to cater to a cross-section of people. If you have 80-90 per cent of the programme that’s good for you, the job is done,” says Chopra.

Analysis, p22 Rankings, p24-27 Methodology, p28 What the 2012 Full tables of the How the lists

surveys reveal leading schools were compiled ➔ Past school and courserankings at www.ft.com/ rankings rankings

21

Polished performers

➔ Which schools made it to the top in the rankings of customised and open programmes? illustration: neil webb 22 ft T Bu ra he years. three 5i 01 ftee7 col,5 have the 59 in schools, featured 70 these Of 2011. in 65 with compared year, this busi- schools 70 ness of number record a includes – Quali ➔ .c om Demand nkings /B sin US niiulcmayneeds company individual to tailored courses ment develop- – programmes ised he in FT es eS ra fo ex knsfrtelast the for nkings ra Se ctv education ecutive cus r kn of nking e seek ses dU ty ca to ti mised cu on st shin om- pr og ra ou av clients. new for are programmes these new of quarter A 2012. around in to 6,200 cent per 15 rose schools these by provided programmes of number world the for corpor from demand growing uoenshosicesdfo 97 from increased schools European mm rg ubro programmes of number erage Th cu sgot sa niao fthe of indicator an is growth is st es h be the t es msdporme u by run programmes omised ’s co o uiesschools. business top nt in thr ue s to st gr ou at ow ions at Th Th . By e e La gh rn Ortmans urent ex world. the of rest to the cent in per 900 7 by and 1,900, in to cent Europe per 9 by 1,200, to America by increased has years. past three the during 4,000 around to per cent 10 by increased has schools these programmes commissioned have 107. to 110 from dipped elsewhere 99. to 77 from in while 2010 the in ctv riigi nemerging in is training ecutive n ftebig the of One Th ubro opne that companies of number e No rt ra Th mrc,tefiuerose figure the America, h knst 0 n2012, in 108 to nkings Th ubro clients of number e 14 ge ubrfrschools for number e st e etin cent per rwhaesfor areas growth No at rt h

illustration: neil webb; graphics: russell birkett Find interactive rankings online at www.ft.com/ rankings

Expanding economically Number of full-time faculty, Europe gets the cream clients and programmes ➔ Schools lead US rivals on open-enrolment programmes 2010 2011 2012 ore European schools than ever the US and Insead in France also per- 23 6000 feature in the top 10 of the 2012 formed very well in 2012, jumping 10 and M ranking, hinting at a shift in the eight places respectively to enter the top 5000 transatlantic balance. The International 10 in sixth and 10th positions Institute for Management Development, IMD has ranked consistently near better known as IMD, in Lausanne, Swit- the top in the last five years. This year it 4000 zerland, heads the table of 65 business has beaten its previous best placing of schools offering open-enrolment pro- second in 2009 thanks to the high scores 3000 grammes. It is up three places from 2011. given by the participants. Notably, the Open enrolment programmes are typi- school tops the ranking for the quality of cally short, intensive executive leadership participants, the level of follow-up offered 2000 development courses. The FT ranking is to participants after eyth have returned based on 16 criteria, 10 of which are com- to work and the quality of the facilities. 1000 piled from a survey of the participants, Martin Kaufmann, a general manager and six from a survey of the schools. at Aveda Corporation, who attended a IMD dethrones Spain’s Iese Business course in March 2011, commented that “the 0 School, which drops to fourth participant engagement and Faculty Clients* Programmes place, while US institutions Participants interaction were very high, Source: FT * Client organisations Harvard Business School, and faculty and participants second, and Thunderbird value highly were of the highest calibre, all economies, particularly in South School of Global Manage- IMD’s focus in a very effective, personal America, Asia and the Middle East, but ment complete the top three. and pleasant setting”. companies there often turn to estab- The University of Chicago in on empathy While IMD scores well lished schools outside their region. on the other criteria in the Worldwide, the number of pro- The rise of Europe’s elite schools survey – it is among the top 10 in each of grammes taught outside the schools’ FT ranking position these – it is clear from responses to the FT own regions has grown by more than that participants value highly IMD’s focus 40 per cent in two years. These pro- on empathy and the emotional intelli- 2003 2012 grammes now account for nearly 15 per 1 gence aspect of leadership. “The focus was cent of all customised on emotions and personal development programmes, with two- 4 more than on business cases. I learned a thirds being offered by 7 lot about myself,” says one participant 8 European schools. 6,200 9 IMD is the second European school The good news looks 11 10 after Iese to reach the top spot and the The number of courses set to continue. Some 40 12 fourth new number one school in four run by the 70 business 15 per cent of clients aim to years, showing how competitive open- schools in the 2012 cus- increase executive train- enrolment executive education is. tomised programme ing spending over the The top spot used to be the preserve ranking – up 15 per cent next three years, while of US schools. Apart from Harvard, which on last year just 10 per cent say they 25 was ranked top seven times, US schools 26 will cut their budgets. IMD tend to score lower for international It is also clear that Iese participants, the number of programmes business schools are usually meeting Essec run outside their country or regions and this increased demand without London Business School the quantity of programmes taught in increasing their permanent overheads, HEC Paris conjunction with other business schools. 37 such as standing faculty, instead Insead Nonetheless, US schools remain very using outside faculty or corporate 2003 2006 2008 2010 2012 successful, with 11 ranked among the practitioners. Overall faculty size has top 25.– Laurent Ortmans Source: FT remained constant. B rankings

Financial Times Executive Education 2012 Corporate survey ➔The top 70 customised programmes ved r money up fo w- lue ture use llo culty cilities 2012 2011 2010 3 year School Country aching methods Preparation Programme design Te Fa New skills & learning Fo Aims achie Fa Va Fu 1 111Duke Corporate Education US/South Africa/UK/India 1111343228 2 222HEC Paris France32321 11101 3 3 7158 Iese Business School Spain 711810 15 7148 15 6 4 534Esade Business School Spain/Argentina 13 12 13 14 16 11 11 91210 5 81710Boston University School of Management US 23238144 532 610 67 Center for Creative Leadership US/Belgium/Singapore/Russia 10 13 55723 51 10 4 24 7 556IMD Switzerland 9184 12 11 16 661323 8 386Fundação Dom Cabral Brazil 5810 8429357 943 5Harvard Business School US 4207 6238 27616 10 19 18 16 IE Business School Spain 8712 13 10 315229 14 11 20 16 16 Ashridge UK 18 91517201217251930 12 17 21 17 University of Oxford: Saïd UK 11 611115 10 10 29 821 13= 15 12 13 Babson Executive Education US 14 594624 12 17 11 11 13= 16 29 19 University of North Carolina: Kenan-Flagler US 646713 20 16 4417 15 12 711Cranfield School of Management UK 17 16 18 23 27 18 21 31 20 24 16 9811 Insead France/Singapore/UAE 19 27 16 15 22 31 18 20 25 29 17 11 10 13 University of Pennsylvania: WhartonUS2728242014137 23 24 22 18 13 11 14 Ipade Mexico121914169 48 13 13 720 19 17 25 20 Columbia Business School US 21 14 22 19 17 15 23 42 16 37 20 32 42 31 Stanford Graduate School of Business US 16 10 19 21 18 39 8263332 21= 21 24 22 Thunderbird School of Global Management US 24 15 21 18 28 55 19 27 17 39 21= 22 22 22 University of Chicago: Booth US/UK/Singapore25262725212220121413 23 37 23 28 SDA Bocconi Italy 23 24 23 29 19 629562219 24 23 34 27 ESMT – European School of Management and Technology Germany28172526358 26 15 34 25 25 24 18 22 IAE Business School Argentina 22 31 20 28 23 52 28 11 31 15 26 -43- Edhec Business School France2021292412452214235 27 29 30 29 London Business School UK 33 32 31 30 34 51 31 34 41 26 28 35 38 34 EMLyon Business School France26292827252633623534 29 24 13 22 Insper Brazil 15 34 26 32 31 21 35 19 26 12 30 27 27 28 University of Western Ontario: Ivey Canada/China 31 23 17 9366727182133 31 32 27 30 ESCP Europe France/UK/Germany/Spain/Italy 32 33 34 40 24 42 30 38 38 18 32 29 50 37 University of Virginia: Darden US 29 35 32 22 32 32 24 21 30 57 33 36 57 42 UCLA: Anderson US 36 37 37 33 30 27 43 33 18 38 34= 28 25 29 Kelley Executive Partners at Indiana UniversityUS34383338415 48 28 29 52 34= 38 40 37 Stockholm School of EconomicsSweden/Russia/Latvia 38 30 41 37 38 19 25 30 28 50 36 32 18 29 Northwestern University: Kellogg US 37 22 43 35 29 62 32 35 27 40 37 40 -- Politecnico di Milano School of Management Italy 30 39 40 39 26 934433935 38 44 46 43 Henley Business School UK 43 25 30 31 39 29 37 59 50 42 39 56 59 51 Ceibs China 44 45 44 45 37 65 49 37 40 36 40= 41 53 45 York University: Schulich Canada 41 40 45 34 50 30 45 58 42 49 40= 51 47 46 University of Texas at Austin: McCombs US 48 41 39 51 33 40 44 24 47 43 42= 31 35 36 Australian School of Business (AGSM) Australia 35 46 38 36 43 33 39 57 46 59 42= -38- University of Pretoria, Gibs South Africa4254544654634241491 44 46 52 47 Queen's School of Business Canada 55 56 42 41 42 25 46 39 32 54 45 49 51 48 Vlerick Leuven Gent Management School Belgium 51 42 48 47 52 57 36 48 44 44 46= 51 36 44 Melbourne Business School, Mt ElizaAustralia 49 49 49 43 48 34 41 55 52 45 46= 46 47 46 Tilburg University: TiasNimbas Netherlands 50 43 52 50 45 43 59 61 36 31 48= 45 43 45 Católica-Lisbon School of Business and EconomicsPortugal 45 55 50 48 56 44 47 40 51 28 48= ---Nova School of Business and EconomicsPortugal 40 44 36 55 46 35 52 36 53 65 50 55 56 54 Aalto University Finland/Singapore60504653406838473755 51= 42 32 42 Rotterdam School of Management, Erasmus UniversityNetherlands 56 47 47 60 53 64 53 67 56 47 51= 48 40 46 University of St Gallen Switzerland 39 53 58 57 58 54 58 16 67 48 53 59 55 56 Grenoble Graduate School of Business France58636354473656535551 54 ---Incae Business School Costa Rica/Nicaragua 46 36 35 44 44 70 40 44 43 68 55 50 -- University of Michigan: Ross US 53 52 55 42 55 58 50 32 54 70 56 -36- Universidad Adolfo IbáñezChile 54 61 53 56 64 53 61 66 58 9 57 63 62 61 USB Executive Development South Africa52586059592854454553 58 62 54 58 University of Toronto: Rotman Canada 61 59 51 49 51 59 51 50 48 58 59 43 45 49 Warwick Business School UK 57 48 56 52 57 60 55 52 66 41 60 54 33 49 MIT: Sloan US 47 60 62 61 49 69 57 65 68 63 61 58 65 61 Macquarie Graduate School of Management Australia 65 51 57 62 60 66 60 60 57 60 62 60 59 60 Eada Spain 66 65 61 64 61 47 64 64 63 56 63 57 58 59 Irish Management InstituteIreland 63 62 66 63 69 46 63 54 64 62 64 65 -- University of Porto Business School Portugal 59 57 59 58 65 50 62 49 60 66 65 53 49 56 University of Cape Town Graduate School of Business South Africa64647068665669706146 66 61 61 63 BI Norwegian Business School Norway 67 67 64 67 63 61 65 46 62 61 67 ---National University of Singapore Business School Singapore68706865684966516569 68 ---Yonsei University School of Business South Korea62686566621768635967 69 -64- NHH Norway 70 66 67 69 67 37 70 68 69 27 70 64 63 66 Nyenrode Business Universiteit Netherlands 69 69 69 70 70 41 67 69 70 64

ft.com/BUSineSSedUcation Business school survey nue ($m)† rsity ve

ve Key: customised programmes re sponses‡ m re ner schools to nk in 2012 rt tal culty di International clients International participants Overseas programmes Pa Fa To Cus Ra The first 10 criteria are based on expectations 761515 35 (3) - 1 feedback from executive education were met, and 30 14 28 26 10 56 (3) - 2 purchasers; the next five from each the quality of feed- 5581156 (3) - 3 496713 31 (3)19.1* 4 business school. These criteria are pre- back from individual 33 30 61 36 26 29 (3) - 5 sented in rank form, with the leading participants to purchasers. 35 237274632 (3) - 6 school in each column ranked number Facilities (7.0) Rating of the 11 334572 44 (3) - 7 25 55 45 51 33 38 29 (3)58.28 one. The last two criteria are for infor- learning environment’s quality 21663272945 (3)143.8*** 9 mation only, and do not contribute to and convenience, and of supporting 29 36 28 40 764 (3)8.3*10 the ranking. resources and facilities. 21 134835 (3)39.1** 11 19 22 9123241 (3)15.5**12 Figures in brackets show the per- Value for money (8.0) Purchasers’ 33 30 47 14 37 22 (3) - 13 centage each criterion contributes to rating of the programme’s design, 66 41 40 57 44 19 (3)18.7** 13 the overall ranking weight. The weight- teaching and materials in terms of 20 4261952 (3) - 15 9717 23 335 (3) - 16 ing accorded to the first nine criteria is value for money. 14 12 16 23632 (3) - 17 determined by the level of importance Future use (8.0) The likelihood that 40 65 63 27 62 28 (3) - 18 that clients attach to each. clients would use the same schools for 15 43 27 21 18 17 (3) - 19 27 32 23 51 21 19 (3) - 20 Preparation (8.4) The level of interac- future customised programmes, and 35336451227 (3) - 21 tion between client and school, the whether they would use the school for 12 23 49 45 47 28 (3) - 21 extent to which purchasers’ ideas were the same programme. 31 35 41 32350 (3) - 23 54 21 23 45 944 (3)8.2*24 integrated into the programme, and the International clients (5.0) The percent- 82444193347 (3)3.8*25 effectiveness of the school in integrat- age of clients with headquarters out- 63 44 31 45 56 17 (2) - 26 ing its latest research. side the business school’s base country 10 10 4171135 (3) - 27 37 17 5111431 (3) - 28 Programme design (8.4) The flexibility and region. 18 66 39 40 50 23 (3) - 29 of the course and the willingness of International participants (3.0) The 46 39 59 57 20 21 (3) - 30 schools to complement their own fac- extent to which customised pro- 28 11 38 33 21 48 (3) - 31 60 835516424 (3)12.7** 32 ulty with specialists and practitioners. grammes have participants from more 43 29 22 45 17 19 (3) - 33 Teaching methods and materials (8.0) than one country. 56 26 10 22 41 19 (3) - 34 The extent to which teaching methods Overseas programmes (4.0) The inter- 32 20 20 13 68 41 (3)9.7 34 42 15 19 16 43 33 (3) - 36 and materials were contemporary and national reach of the school’s custom- 38 58 54 32 65 27 (3)6.7 37 appropriate, and included a suitable ised programme teaching. 23 47 12 57 55 38 (3) - 38 mix of academic rigour and practical Partner schools (3.0) The quantity and 17 60 63 17 426 (3) - 39 50 61 46 53 527 (3) - 40= relevance. quality of programmes developed or 15 64 42 23 63 16 (3) - 40= Faculty (8.5) The quality of teaching taught in conjunction with other busi- 58 55 63 44 624 (3) - 42= and the extent to which teaching staff ness schools. 51 40 26 95225 (2) - 42= 52 51 43 45 25 21 (3) - 44 worked together to present a coherent Faculty diversity (5.0) The diversity 41 18 18 57 28 39 (3)8.6*45 programme. of faculty according to nationality 59 34 52 85742 (3) - 46 New skills and learning (8.4) The rel- and gender. 65 27 21 15 48 41 (3) - 46 49 63 63 57 54 40 (3)4.8 48 evance of skills gained to the workplace, Total responses The number of indi- 22 49 50 57 16 19 (2)2.2*48 the ease with which they were imple- vidual surveys completed by clients of 53 28 7576628 (3)3.9 50 mented, and the extent to which the the school. Figures in brackets indicate 25 13 11 10 39 35 (3) - 51 48 37 14 57 30 47 (3)3.1 51 course encouraged new ways of thinking. the total number of years of survey 46 46 15 40 27 38 (3)3.1*53 Follow-up (6.7) The extent and effec- data included in the ranking. 36 50 58 57 39 7 (1) - 54 tiveness of follow-up offered after the Custom revenues Income from cus- 13 56 31 53 51 20 (2) - 55 26 25 53 36 53 13 (2) - 56 course participants returned to their tomised programmes in 2011 in $m, 45 69 63 53 66 23 (3) - 57 workplaces. provided optionally by schools. Figures 57 48 60 40 49 16 (3) - 58 Aims achieved (8.6) The extent to are based on average dollar currency 67 59 45 57 35 22 (3) - 59 11923535919 (3)17.5* 60 which academic and business exchange rates for 2011. 39 68 63 57 45 25 (3)3.3** 61 44 42 62 31 34 45 (3) - 62 Footnotes: †These data are provided for information only. For schools whose main headquarters are outside the US figures are based on 61 52 31 27 42 29 (3)2.7** 63 average dollar currency exchange rates for 2011. ‡The first figure refers to the number of individual surveys completed by clients of the 64 54 57 20 68 30 (2)2.4*64 business school. The figure in brackets indicates the total number of years of survey data included in this ranking. Data are retained for 63812363125 (3) - 65 those schools that participated in the 2011 or 2010 ranking but were unranked in that year. *Includes revenue from food. **Includes 68 62 30 23 60 50 (3)18.4* 66 revenue from food and accommodation. ***Aggregate total for open and customised programmes. Although the headline ranking figures 24 33 56 33 24 21 (1) - 67 show changes in the data year to year, the pattern of clustering among the schools is equally significant. About 340 points separate the 70 70 63 57 70 22 (1)3.6*68 top school, Duke Corporate Education, from the school ranked 70th. The top 14 business schools, from Duke CE to UNC: Kenan-Flagler, form the top group of custom providers. The second group is led by Cranfield School of Management and the third by Grenoble Graduate 69 67 48 57 61 23 (2)12.2 69 School of Business. The top and bottom schools in the second group are separated by 129 points; in the third group there is a 90-point 62 57 55 39 58 36 (3)9.8** 70 gap between top and bottom.

ft.com/BUSineSSedUcation rankings

Financial Times Executive Education 2012

Participant survey ➔ The top 65 open programme providers mmodation ved co up w- llo od & ac culty cilities 2012 2011 2010 3 year School Country aching methods Preparation Course design Te Fa Quality of participants New skills & learning Fo Aims achie Fo Fa 1 43 3IMD Switzerland 56651391 41 2 243Harvard Business School US 68262711 267 3 253Thunderbird School of Global Management US 21 1146216 29 11 4 122Iese Business School Spain 22 21 19 19 31 8412 14 3 5 51 4University of Virginia: Darden US 324212 5163 22 26 616 20 14 University of Chicago: Booth US/UK/Singapore1333112 13 7313 7 8108 Essec Business School France/Singapore710 718144 2824 5 8 667London Business School UK 81317146 17 6959 9 71310HEC Paris France141414111511811 25 22 10 18 17 15 Insead France/Singapore/UAE 21 16 12 13 52026143519 11 12 12 12 Stanford Graduate School of Business US 16 15 22 12 316235 117 12 20 23 18 Esade Business School Spain/Argentina 25 26 25 28 27 10 123178 13 15 21 16 ESMT – European School of Management and Technology Germany925 51718277 13 15 4 14 97 10 Center for Creative Leadership US/Belgium/Singapore/Russia 12 488171212101920 15 10 15 13 University of Oxford: Saïd UK 18 18 16 16 91517151810 16 - 21 - University of Michigan: Ross US 17 597131429259 33 17 10 912Fundação Dom Cabral Brazil 15 11 15 23 39 91920136 18 17 10 15 University of Western Ontario: Ivey Canada/China 20 12 18 10 23 31 28 19 11 21 19 24 28 24 University of Toronto: Rotman Canada 4710 9241 27 42165 20 21 19 20 University of Pennsylvania: WhartonUS132420227 25 18 21 815 21 12 814MIT: Sloan US 10 27 13 4813 45 17 23 34 22 14 13 16 Northwestern University: Kellogg US 19 17 26 29 16 34 31 26 714 23 22 18 21 Columbia Business School US 34 20 27 21 10 32 22 24 45 35 24= 19 15 19 IE Business School Spain 37 37 44 35 25 22 10 32 36 18 24= 27 28 26 Cranfield School of Management UK 32 19 28 20 21 24 3182723 26 23 24 24 UCLA: Anderson US 23 91115201920162816 27 26 26 26 Queen's School of Business Canada 27 31 30 30 37 43 15 28 16 24 28 29 - - Kaist College of Business South Korea1129243233185 31 40 12 29 28 24 27 Ceibs China 24 41 37 37 35 23 33 44 41 28 30 36 40 35 University of St Gallen Switzerland 26 39 21 33 38 35 36 22 22 31 31 33 38 34 Melbourne Business School, Mt ElizaAustralia 33 32 31 24 28 41 24 30 42 45 32= 32 30 31 SDA Bocconi Italy 46 36 41 38 42 38 14 40 32 25 32= 30 42 35 Insper Brazil 36 23 23 25 57 33 47 43 33 44 32= 44 55 44 Universidad de los AndesColombia 28 34 35 44 41 21 48 36 47 30 35 40 39 38 Ashridge UK 38 42 46 34 19 47 39 42 31 40 36 43 44 41 York University: Schulich Canada 30 33 32 31 29 36 51 38 30 63 37 37 31 35 ESCP Europe France/UK/Germany/Spain/Italy 44 43 45 47 30 30 25 39 50 29 38 31 31 33 IAE Business School Argentina 39 45 52 45 44 50 40 45 26 27 39 42 33 38 Henley Business School UK 43 30 36 36 26 29 49 33 38 49 40 45 43 43 NHH Norway 49 22 43 40 55 28 34 27 10 46 41 37 36 38 Vlerick Leuven Gent Management School Belgium 41 40 38 42 46 45 37 41 43 42 42= 46 47 45 Aalto UniversityFinland/Singapore31354046502650344637 42= 48 46 45 Stockholm School of EconomicsSweden/Russia/Latvia 45 44 42 39 62 40 32 29 39 56 44 51 56 50 Australian School of Business (AGSM) Australia 47 38 34 26 32 49 54 46 44 58 45 34 33 37 Wisconsin School of Business US 35 28 33 27 51 44 42 35 12 60 46 35 36 39 Incae Business School Costa Rica/Nicaragua 51 57 48 48 22 42 56 49 48 32 47 49 50 49 University of Pretoria, Gibs South Africa29473943494641502036 48 - 44 - Boston University School of Management US 42 46 29 41 34 48 61 37 51 62 49 40 40 43 Edhec Business School France50514750433730475826 50 53 49 51 Nyenrode Business Universiteit Netherlands 48 48 49 52 58 39 35 48 49 53 51 54 52 52 Católica-Lisbon School of Business and EconomicsPortugal 40 50 57 54 53 57 44 57 37 39 52 50 48 50 EMLyon Business School France56535149525652516438 53 64 - - Nova School of Business and EconomicsPortugal 58 52 55 51 61 55 46 58 34 61 54 54 54 54 Lagos Business School Nigeria 54 55 58 53 60 58 38 52 52 54 55 56 53 55 Wits Business School South Africa55565055545365545557 56 52 59 56 Tilburg University: TiasNimbas Netherlands 52 54 53 57 64 60 59 53 54 52 57 62 -- Esan Peru 63 58 59 56 59 54 53 59 63 51 58 57 50 55 Grenoble Graduate School of Business France65656064486157625941 59 61 -- Solvay Brussels School of Economics and Management Belgium 57 49 56 58 40 62 60 55 61 48 60 62 - - Universidad Externado de Colombia Colombia 53 64 64 62 47 51 55 60 60 43 61 - - - University of British Columbia: Sauder Canada 61 60 62 63 45 64 43 61 53 47 62= 59 58 60 Centrum CatólicaPeru 59 62 61 59 63 52 64 63 62 59 62= 60 57 60 USB Executive Development South Africa62595460565962565664 64 - - - National University of Singapore Business School Singapore60616361366563655750 65 65 60 63 Eada Spain 64 63 65 65 65 63 58 64 65 55

ft.com/BUSineSSedUcation Business school survey & ss rsity nue ($m)†

ve Key: open enrolment programmes ve re th ner schools men nk in 2012 peat busine rt culty di ow International location Pa Fa Open Ra Wo participants (%) International participants Re gr The first 10 criteria are based on feed- Aims achieved (8.6) The extent to 17 42941272 - 1 21 211241231143.8*** 2 back from course participants, the next which personal and professional expec- 41 32 50 1446 -3 six from each business school. These tations were met, and the likelihood 45 21 13 21 1-4 criteria are presented in rank form, that participants would recommend 25 36 85453595.6** 5 apart from women participants (a the programme. 22 29 15 48 20 46 -6 27 44 30 46 7392015.37 percentage). The leading school in each Food and accommodation (6.7) Rating 23 33763347 -8 column is ranked number one. Rev- of the quality of food and accommodation. 35 10 16 14 25 10 -9 enue data are provided for information Facilities (7.5) Rating of the learning 22 1623 14 4- 10 only and are not part of the ranking. environment’s quality and convenience, 26 11 25 27 18 32 -11 41 936514 12.9* 12 Figures in brackets show the per- and of supporting resources and facilities. 23 34 443253 7.6* 13 centage each criterion contributes to Women participants (2.0) The percent- 39 25 19 12 43 52 -14 the overall ranking weight. The weight- age of female participants. 24 5551015199.8*15 ing accorded to the first 10 criteria is International participants (3.0) 33 24 35 42235- 16 34 37 14 15 74111.4* 17 determined by the level of importance Amalgamation of the percentage of 37 23 5165321- 18 that participants attach to each. participants from outside the business 45 50 30 30 44 39 -19 Preparation (7.6) The provision of school’s base country and region. 29 28 42 37 30 44 -20 advanced information on content, and Repeat business and growth (5.0) 18 17 47 57 34 51 9.821 34 15 36 57 434- 22 the participant selection process. Amalgamation of growth in revenues 31 14 41 29 27 13 -23 Course design (8.5) The flexibility of and percentage of repeat business. 38 18 17 18 10 813.0* 24= the course and appropriateness of class International location (3.0) The extent 28 38 23 62 47 49 -24= size, structure and design. to which programmes are run outside 42 44 65 55 53 30 -26 Teaching methods and materials the school’s base country and region. 40 49 20 22 40 18 -27 56445114463- 28 (8.3) The extent to which methods Partner schools (3.0) The quantity and 32 43 734115 -29 and materials were contemporary and quality of programmes taught in con- 25 41 54 20 15 24 18.130 appropriate, and included a suitable junction with other business schools. 18 39 40 56 24 40 -31 mix of academic rigour and practical Faculty diversity (4.0) The diversity of 39 42 62 50 30 26 -32 37 64 10 63 53 42 -32 relevance. faculty according to nationality and gender. 41 20 61 19 956- 32 Faculty (8.8) The quality of the teach- Open-enrolment revenues Income 33 26 44 49 53 12 6.2** 35 ing and the extent to which teaching from open programmes in 2011 in $m, 41 40 53 28 17 9- 36 staff worked together to present a provided optionally by schools. Figures 43 12 63 20 23 28 -37 27 19 12 13 8389.4*38 coherent programme. are based on average dollar currency 34 35 60 25 53 47 -39 Quality of participants (7.9) The extent exchange rates for 2011. 27 52 59 26 53 55 5.040 to which other participants were of the 29 53 43 47 22810.8* 41 appropriate managerial and academic 45 63 32 36 53 60 4.4* 42 48 58 244426116.242 standard, the international diversity of 37 55 27 61 47 11 -44 participants and the quality of interac- 40 61 34 63 53 65 -45 tion among peers. 35 7315 34 22 -46 New skills and learning (8.8) The rel- 39 54 48 45 53 36 -47 49 27 51 40 53 37 -48 evance of skills gained to the workplace, 18 6643 47 62 -49 the ease with which they were imple- 25 51 24 53 47 58 9.1** 50 mented, and the extent to which the 43 48 38 39 18 50 5.6* 51 course encouraged new ways of thinking. 34 22 26 91215- 52 38 45 49 853232.1*53 Follow-up (7.3) The level of follow-up 28 56 18 52 27 45 3.9* 54 offered after participants returned 42 60 21 38 30 54 -55 to their workplaces, and networking 34 57 39 35 33 43 -56 opportunities with fellow participants. 44 62 28 32 35715.657 42 81 17 21 33 5.8* 58 29 31 58 50 47 53 4.1* 59 49 47 57 46 47 27 2.760 Footnotes: †These data are provided for information only. For schools whose main headquarters are outside the US, figures are based on average dollar currency exchange rates for 2011. 46 33 22 57 53 48 -61 *Includes revenue from food. **Includes revenue from food and accommodation. ***Aggregate total for open and customised 48 59 52 42 6163.7 62 programmes. Although the headline ranking figures show changes in the data year to year, the pattern of clustering among the schools is 35 46 33 33 34 64 -62 equally significant. Some 280 points separate the top school from the school ranked 65th. The top 15 schools, from IMD to University of 29 16 9573417- 64 Oxford: Saïd, form the elite group of providers of open enrolment programmes. The second group runs from University of Michigan: Ross to EMLyon Business School, ranked 52nd. Some 140 points separate these two schools. The third group is headed by Nova School of 43 13 56 31 40 25 6.465 Business and Economics.

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IllustratIons: nEIl WEBB

Publishing, 32 Corporate universities, p36 Consultancies, p38 From textbooks Companies’ DIY Keeping up in a to teaching business schools changing world report

31

Frank Waltmann of Novartis; (top) Joanna Barsh of McKinsey

Meet the competition

➔ How publishers, consultants and corporate universities are taking on the business schools photos: AndreAs FrossArd; getty; dreAmstime 32 P re and courses specialised offered has which ing, Pu Business Ha Me ex at ge mark education business the entered recently the and Wiley including – companies media and ing management and authors with connections and ies hyd hi os u ulsesare ex publishers But jobs. their do they how improve to just or promotion at aimed manuals training and books enc journals, Wi ➔ ecutives. adn their panding e principally ted mid-level mlye okn o htnext that for looking employees blish- Le rv anwhile, Specialist ard et port eaigterbsns librar- business their veraging ihsotoln ore tar- courses online short with se rne rdgtl–word: – digital or – printed the of form the taken have traditionally ucts prod- education business companies’ ublishing yc ex Pe oada,self-help lopaedias, et,svrlpublish- several perts, ra ro ru have – group arson nge. publ wo sesare ishers rds off ering re “E to permissi we mar a as co duc sa pl The much Pa ha ys add ay gnised… ul Ec it ve at s Ro onom va in” co ion ssi ket lue ietro nweg services knowledge of director Dan including however, Some, territor their on tread will publishers that concerned too be to appear programmes. brief for the mark in ground gain to them help choosing. done can be they online, conducted are they because and shorter, are classes the affordable, more are they advantages: programme. MBA ih uiesschools. business with, with, partner Kelly. says that,” demanding are today companies and turnaround labs. learning online and workshops through development professional provides publisher. academic the on etr within venture joint Wiley the of immediac 34). page (see is years, many for tools education management online on ur mor of As ses Fo Pu Pu “W ist is oito oAvneCollegiate Advance to sociation “T et o,bsns col onot do schools business now, r lses ore,hwvr have however, courses, blishers’ lsesiss their insist blishers a otig ihgreater with things do can e col fBusiness of Schools than e etcnlg uprsafaster a supports technology he cuidb uiesschools business by occupied h aaeeteducation management the inl h nutybd,have body, industry the tional, at ge otn a complement can content obsaotteqaiyof quality the about doubts h programmes. the y, Th ieo the of time a ea management neral asKvnKly director Kelly, Kevin says ” Le or schools, business by run courses week-long contact, high- the from proposition different a are and time ite fan if little, forms. ex through delivered usually courses, e-learning short, are offerings publishers’ “W s eln onscould points selling ese rat ex sigtcnlg plat- technology isting arning ev e oewl,the well, done hen e hncompete than her adn t offerings its panding co naoeor one a en Th Jo ur In ey nWly&Sons, & Wiley hn y, Th Th st st se classroom nov very involve go udent ukof bulk e tt,anew a itute, In institute e li to is al ma terna- tw at Le o-year ’s the te Cl air, rials. y. Le courses.” the into built reflection or feedback indi- vidualised no is there Often industries. fields or other to connections on build and don they Sometimes textual. con- much very is management though context, without content provide they “Sometimes adds: but says, he schools,” be by provided development and niecontent. online other and communities online ing, coach- professional including have learned, they what of use make managers help to mechanisms support provides a on learning nenlcontrol. internal and management risk and reporting, financial and audit performance, and board as such topics learning, covers online of hours 150 about and workshops compulsory of days a-half includes which programme, directors. non-executive aspiring targ programme training accredited an Certificate, No Times Financial the launched it year instruction. into moves also making is Times, Financial the owns that use.” that to put information and day next the trenches the and day one it learn else. much applicable. immediately and interactive be will that programmes sound instructionally tog put can who authors terrific Kelly. says us,” to come you about more know da a half or minutes, societies. profes- sional 800 than more with nerships months. 12 six to next the within education ment mark education higher the in training By arning Th Wile Pe 90 has who professional a you’re “If -xctv ietr(NED) Director n-Executive ro,tepbihn company publishing the arson, et pcaiyo h Wiley the of speciality e Re u tpast anhmanage- launch to plans it but , y’ focus s In bec Th Pe st ra tt s“just-in-time” is itute pedon ople ey Th ca g fsubjects. of nge et at att eal to able be to want opn a part- has company e ➤ st ed h oeti on is moment the Knight rat go y, at ’t n at to wants and gcplanning, egic akotinto out back cu aetm for time have rn and rrent “W st ’t tw ructure recognise have e o-and- et It La tt Th her also er st e

photo: vance jacobs; dreamstime Quick change: Kevin Kelly of the Wiley Learning Institute says the technology allows a swift response to companies’ needs

33

“If you have 90 minutes, or half a day, and want to know more about strategic planning, you come to us”

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“We saw there was a gap in the market for formal education of Centre ground non-executive directors,” says Steve Playford, managing director of the ➔Harvard Business Publishing is targeting middle managers Financial Times Non-Executive Directors’ Club. “The financial crisis ost management education and “Harvard Business School provides an brought the issue to a head.” professional development pro- extremely high-touch [offering] and we try So far about 120 people have taken Mgrammes largely overlook mid- to be a high-tech complement,” says Carvey, the course, which uses the content and level managers, says Ray Carvey, execu- adding that participants who take a class at technology platforms of four Pearson tive vice-president of corporate learning at HBS expect a certain kind of community companies, including the FT and Edex- Harvard Business Publishing (HBP.) and day-to-day interaction with faculty. cel, Pearson’s awarding body. “They’re the ones who get all the work “We’re never going to replicate the class- “If you use the right companies, you done,” he says. “Because of the recession, room. But we can take a little bit of it, and can be successful in the business edu- and companies making do with less, there help companies leverage their dollars and cation space. We have built a robust, is tremendous pressure on these folks.” get the same kind of learning. It’s a different credible product,” says Playford. To ease their burden, the company level of experience.” Last year, The Economist, which has introduced a new programme called The company’s flagship product, 34 is 50 per cent owned by Pearson, Breakthrough Leadership, based on the Harvard ManageMentor, is a learning tool launched Economist Education, a research of Linda Hill, a pro- targeted at general managers series of online courses about emerging fessor at Harvard Business “We went from who need a quick brush-up markets. The courses, which are about School, and Kent Lineback, on, for example, budgeting, four hours long, use the magazine’s the business author. The an academic time management or giv- editorial content with input from pro- programme involves online perspective ing a performance review. fessors and consultants. material, live case discus- It includes videos, social Paul Rossi, managing director of sions, online study-group to a real media tools, expert commen- the Americas at The Economist, says discussions and videos of customer- tary and other interactive the courses have two target audiences: expert commentary.“It is elements. The lessons last Fortune 1000 companies looking aimed at the sweet spot in focused one” between eight minutes and to augment internal training pro- the market place of middle two hours depending on the grammes for employees around issues managers,” says Carvey. amount of time the manager has to spare. of globalisation, and individual Indeed, the programme also represents Harvard ManageMentor is used by customers who are considering the sweet spot of HBP: education products hundreds of companies around the world. enrolling in a formal graduate that blend online course material – much “Companies were telling us how they business programme. of it based on research by the school – wanted to learn, so we went from an aca- “We are always looking for new with live, classroom-style workshops and demic perspective to a real customer- areas to take the brand,” he says. discussions on common business issues. focused one,” says Carvey. “We go in and help “Education is recognised by our In the last financial year, HBP contributed them solve their problems using the best customers as a market that we had $135m to Harvard Business School’s coffers. content and means to support that. It is a ‘permission’ to play in. It’s a place tailored continuous learning environment.” where we add value.” Another product, Leadership Direct, Rossi says Economist Education is designed to cultivate the management complements business school teach- skills of high-potential leaders. The classes ings. As evidence, he points to the focus on topics such as “global mindset” University of Virginia Darden School and “leading teams”. Many of the courses of Business, which is trialling the are delivered virtually by HBS faculty via courses as primers for its MBA Telepresence or WebEx. Programmes Ray Carvey students. “It’s to make sure that typically involve 50 participants per cohort, says HBP offers all their students are at the and cost $3,000-$6,000 a person. a tailored same level of understanding of HBP customises the course material for environment international markets before the the company and the specific objectives it official classes begin,” he says. wants to achieve, says Carvey. “A company As the old model of publishing comes to us because it has some sort of comes under pressure in the digital strategic initiative it wants to execute from age, Kelly, of the Wiley Learning Insti- top to bottom. This is an effective method tute, says the move into management to scale learning,” he says. “I don’t think instruction makes sense. “Think about it’s meant to, nor does it, replicate the Darwin’s phrase,” he says. “It’s the ones kind of experience you would expect on that adapt who survive.” B campus.” – Rebecca Knight

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report

Insider training

➔ In-house education is getting serious, writes Haig Simonian

or many aspiring corporate size, there is no automatic bias to any leaders, an MBA from an particular domestic seat of learning. So august business school or Swiss interest in accreditation arguably completion of an external carries special weight. F advanced management The motive for the companies programme are achievements proudly involved, irrespective of origin, is to displayed. ensure internal training meets In reality, however, most execu- expectations and holds its own tives’ business education takes place on against external alternatives. “We want to their employers’ premises, as many big Allocating resources between emphasise the companies operate extensive internal internal and external options 36 involvement of “corporate universities”, “learning has always been tough; now, our top people” centres” or “academies”. with budgets stretched, the – William Wolf To demonstrate that corporate choices are even harder. Clip education need not play second fiddle reassures corporate education to academic alternatives, 15 of Europe’s heads that their internal courses are best-known multinationals have had up to scratch. their internal programmes accred- “We do send executives to business ited by the European Foundation for school and bring in individual experts. Management Development (EFMD), But our people prefer to attend inter- a networking platform for companies nal courses,” says Frank Waltmann, and business schools. head of learning at Novartis, the phar- The number of participating com- maceutical group. panies remains small, partly because Prisca Peyer-Ehrbar, head of the selection criteria are stringent. But academy at Swiss Re, the reinsurer, members include big names such as echoes this. “We do send people for Allianz, Deutsche Bank, Siemens and MBAs and shorter courses. Volkswagen from Germany, French Most But we really prefer to energy companies EDF and GDF Suez, invest in building our talent and Spain’s Santander Group. business internally.” Three of the 15 in EFMD’s Corporate education “Generally, we are Learning Improvement Process (Clip) moving to a model of using are Swiss. That such a high number takes place our leaders of today to teach comes from a small country testifies on employers’ those of tomorrow,” explains to Switzerland’s disproportionately William Wolf, global head of large number of multinationals. It also premises talent development at Credit shows, perhaps, the broader relevance Suisse, the bank, and previ- of management education in ously a partner responsible for talent Switzerland, home, after all, to both development at McKinsey, the consul- IMD, the business school, and the tancy, in Washington DC. “We want to executive education programmes of the emphasise the involvement of our top University of St Gallen. people and do a lot more of that.” Home ground: The participation in Clip of In-house education has three Frank Waltmann, Novartis, Credit Suisse and Swiss Re advantages, they say. First, it instils head of learning at is particularly relevant as an impartial corporate culture and know-how that Novartis, pictured testimonial to the scheme. Unlike their cannot be replicated externally. Second, in front of the Gehry French, German or Spanish coun- it avoids concerns about confidential- building on the terparts, the Swiss do not have a big ity, especially intellectual property. The company’s campus in domestic talent pool to draw on, mean- third factor is convenience. Multi- Basel, says “our people ing recruitment and training are highly nationals may offer executive education prefer to attend international. And given the country’s across their international networks, internal courses” Photos: AndreAs FrossArd; dreAmstime

ft.com/BUSineSSedUcation ➔ Past school profiles are available on www.ft.com

rather than just at headquarters. But seldom. As a rule, in-house training is wherever courses are held, corporate cheaper than external alternatives. But premises are generally preferred to off- more important – notably at Credit site locations. Suisse, battered, like other big banks, Novartis, for example, by far the by the credit crunch – is the extra flex- biggest of the three Swiss Clip partici- ibility internal options provide. Every pants, operates a “two-pillar” corporate year, about 25 of the company’s bank- education system, says Waltmann. ers attend business school courses, “There is a core portfolio, involving primarily at Columbia and Harvard about 20 programmes in what we call universities. But the majority are a ‘leadership pipeline model’, aimed at educated internally. “We want to keep the top 10-15 per cent of employees. costs as variable as possible in our Then, since 2008, we’ve been creating training and development functions”, what we call ‘Novartis corporate uni- says Wolf. 37 versities’ in key growth markets.” Accreditation is very valuable. An The “corporate universities”, cur- external seal of approval may reassure rently operating in China and Russia some managers they are not being and planned for India and Latin Amer- fobbed off with second best. In the ica, are more commercially focused and case of Novartis’s Chinese corporate concentrated on their home markets. university, the externally accredited But in both cases, teaching is always training has even generated enough in-house. buzz outside the company to be a Waltmann says employees’ prefer- positive factor in recruitment, says ence for internal courses reflects the Waltmann. fact that “they tend to be more flexible, But the prime benefit of external convenient and time efficient”. accreditation lies in making corporate That does not exclude bringing in heads of learning reflect hard on their outside experts, or offering external programmes. Participation in Clip courses where appropriate. Big groups requires taxing assessments every five distinguish between “company-specific” years. “The EFMD auditors speak to programmes, where internal resources everyone from the chief executive down are preferred, and “generic” subjects, to ensure what you are saying is correct such as languages or certain infor- and cohesive. It’s huge,” says Payer- mation technology functions, where Ehrbar. The process not only helps to adequate external options exist. build the brand externally, but also But even topics adds credibility to executive education involving outsiders are within the company, tailored to company she adds. needs, says Peyer- Benchmarking is the Ehrbar of Swiss Re. Think big other big benefit “We design the bulk of Novartis has capacity adduced by all con- our courses ourselves, for up to 7,000 employ- cerned. Participating and we do also depend ees a year, attending companies learn from on external faculty. courses lasting between the EFMD’s experts But I never bring in one day and a year. how their programmes an external product Credit Suisse provided stack up, and can com- ‘as is’, whether it is an a staggering total of pare and contrast their individual professor 83,000 training days offerings, picking up or a business school.” last year, while Swiss Re, best practice along the Waltmann agrees: “We with only 10,800 staff, way. “It’s diagnostic. It’s customise the content.” says around 90 per cent extremely helpful, and Cost, of course, plays of them have attended it comes at a reason- a part – though it is training at its academy. able cost,” concludes mentioned surprisingly Waltmann. B 38 ft A re tor to them tog teams putting oper beyond skills idemngr otop to managers from middle employees, of groups small of sists companies. to offers consultancy the programmes of series a into recently, more and, consultancy the inside people for programme training ev programme. leadership a creating about talent. top their groom to consulting world the to turning been have nies real-world and results for demand greater with or camps” “boot leadership for universities prominent ex philosoph dr increasingly for important more it making mergers, and cost-cutting deep amid years few the past in shifted has industries most across companies underpinning fabric nomic ex women on book a co-authored Barsh after 2008, in them.” to meaningful is what find and others inspire to how knowing and leadership of part being is teaching we what but ership, corpor ex help to ways creative for look and biology edn qu Leading ➔ .c ctvsbcm more become ecutives le noa into olved to employees promising or ecutives training. leadership ecutive Ma “T Tr Th om ex at Mana odcdsao edrhpwas leadership ago, decades wo dtoal,cmaissent companies aditionally, port ctvst eeo leadership develop to ecutives rgam began programme e Mc aeetcnutnisare consultancies nagement /B ’s go leadership. Kinse US y, ,” ex psycholog Th ev in says “T eine eetycompa- recently perience, hnbsns col for schools business than consultancies to turning are many ession, rec- the of aftermath the with grapple companies s ge nnuocec sthey as neuroscience en ge aw riiguulycon- usually training e y’ eS ha ex Centered s neral Jo n nfilssc as such fields on ing me et t’ at Se ctv MB ecutive h ciiyo lead- of activity the s naBrh direc- a Barsh, anna e n telling and her ’r oa know-how. ional Th dU e y, nt at ev ex ca ef olutionary fective. ctvs who ecutives, co ti Le st at As on Th adership nsultanci rat co of su ex le ticipants per 68 of 73% ement, But . eco- e sta 0per 20 than ss her rv ecuti future co nduc ate ey mp ce ve th te ani co to nt ey d ed ld on es ur of wa uc h FT the ses es and par- line at es nt ce ion to ed are nt be re ti thinking ons enblu n ti fe impossible often is it and nebulous be ships relation- because apart fall often tions acquisi- and “Mergers fast. so changing are companies because growing importance of are training of methods new of tive under- st can they that so intentions their be ing becom- and conversations argumentative handling meetings, running on work rme ru httheir that argue grammes tw be a gain to asking realm, “touchy-feely” the into delves sometimes and fields a from dr gramme n httrig what and organisational o codn oAmy to According rtc flaesi riigpro- training leadership of Critics pro- the says Barsh ge tt ho Mo va er fr t rie isExecutive bius at w ay aw tt ty negotiations. rmaueof measure er dadyucan you and ed to nresearch on s ex facademic of ge ecutives sconflict. rs train cu Fo trstog ltures ,chief x, Le top go adership, l can als ’t bring to me find ot ho te “What et mana ex her ac ecu- he them” w aningful .” igis hing wh rs to ge we and ins at n mark and ex be correlation high a finds BCG “adaptabilit promoting approach, results-driven corpor inclusive and transparent more to ing that and obsolete, leadership traditional made has sug by Research dynamics. team be for looking companies most rs ’re ctvswocnajs ochange to adjust can who ecutives is otnCnutn ru ae a takes Group Consulting Boston pi . ge By st re at htteavn fsca media social of advent the that s e Alan et cu y” aiaiaingrowth. capitalisation eut are results “imper business or “mandate” corpor a to courses programme. university a of prestige or credentials the with come not do cies consultan- from offerings investment. on return the measure to ltures. salaesi ideal. leadership a as Mo Rap ex istist tailor to tries bius at ctvsaeadapt- are ecutives Mc v”s htthe that so ive” h importan the ev to Jo peport Kins Mo dn,with ident, ins kn naBarsh anna reover, ow ey pi Mo tt re tw at ing st er st bius e ot re een yles ce ho he ss es of of w rs

photos: getty; bloomberg The group measures success by the sabbaticals, where they More online consulting group, way executives learn skills such as the work for a year or more How Estée Lauder acknowledges that some capacity to sense and respond, process at a non-governmental turned to search and executives are resistant information, create freedom within a organisation, a govern- consulting group Korn/ to outside coaching or framework and create “boundary fluid- ment agency or spend Ferry to train staff for leadership training. ity” within teams. time abroad. the cosmetics market However, she says those Roselinde Torres, a New York- “We try to ensure the in Asia. www.ft.com/ who are resistant to based senior partner at BCG, learning experience is business-education change tend not to be says executives are racing up Roselinde grounded in the strategic strong candidates. the corporate ladder much Torres,senior agenda of the company,” Companies come to faster than they did 20 years partnerat Boston says Torres. “It’s not just going off to Korn/Ferry to “deepen the bench” of ago. Hence they have more Consulting school.” potential chief executives. The group limited experience and need Group She adds that executives in Europe mixes individual coaching with course 39 to gain leadership skills. BCG’s and Asia are often more adaptable, modules. It often helps companies programmes range from one-on-one while their US counterparts cling to the improve collaboration as they roll out coaching to courses that run six weeks notion of the “heroic” chief executive. international strategies, change the or six months. The firm also encour- Kathy Woods, a senior partner in role of marketing in an organisation or ages executives to take “immersion” Korn/Ferry’s leadership talent and become better at hiring internally. B

Technology, p43 Hopes & Fears, p46 Is Windows 8 Women on the clear enough? way to the top review

books Style and substance

➔ Gucci’s revival shows strategy must be matched with execution. By Philip Delves Broughton

ust as ancient theologians once debated had forceful ideas about what the company should do. But de how many angels could dance on the head Sole started by examining where it was to start with. That is of a pin, so today business executives the beginning of any strategy. Before you dream of the future, thrash around the futile question of what it is worth taking a harsh inventory of where you are. J matters more – strategy or execu- De Sole noted that Gucci’s traditional high-end leather tion? It is a ridiculous question because the goods were not selling as briskly as its seasonal items, so the 41 answer is obviously both. A good strategy company implemented a plan to become “fashion-forward, poorly executed is as worthless as a bad high quality and good value”. This involved reinventing the strategy well executed. design process, promoting a young designer, Tom Ford, and It takes a bold, or perhaps shame- revamping production, the supply chain, marketing and retail. less, writer to venture once more into The strategy, like every great strategy, says Montgomery, this particular breach, but Cynthia was a “system of value creation, a set of mutually reinforcing Montgomery, professor of business parts”. Everything the company did reinforced its new focus. administration at Harvard Busi- As De Sole said later, Gucci’s revival was the fruit of “a lot ness School, does just this. But we of little things. We were very aggressive in establishing priori- should thank her, because in a brisk ties, and needed to act decisively, quickly.” 158 pages, she offers a clear summary Action and decisiveness are vital to a successful strategy. of how to think about the overlap Implementation always involves sacrifice – yes/no decisions between strategy and execution. In that lead to the abandonment of pet projects, people, terms of basic usefulness, The Strate- dreams or long-held assets. Montgomery teaches mid-career gist: Be the Leader Your Business Needs executives at Harvard and writes that outshines books several times its length. many of them say how hard it is to Montgomery quotes the German mili- Gucci’s strategy kick off the old in pursuit of the new, tary commander Helmuth von Moltke, who but once they have made the choice noted that no plans survive contact with was a system of and taken the necessary actions the enemy, and that strategy should value creation, a they feel a great sense of liberation. therefore be viewed as a system of Tom Ford’s set of mutually Taking on new challenges is always decision making, of “penetrating design revamp more invigorating than managing the the uncertainty of veiled situa- was crucial to reinforcing parts same old problems. tions to evaluate facts, to clarify the Gucci’s revival She says external strategists can unknown, to make decisions rapidly, be helpful in defining a path to the and then to carry them out with “profit frontier”, where you have a wider gap than your peers strength and constancy”. between your costs and your customers’ willingness to pay. She uses a few case studies to make her point, But ultimately it is the corporate executive who must take notably Gucci, Ikea and Apple. Gucci was a fabled responsibility for building that set of mutually reinforcing but dysfunctional and failing family business in actions that enable any strategy to work. It is an open and 1995 when Domenico de Sole, a tax lawyer, became ever-changing process that requires “continuous, not its chief executive. Many inside and outside Gucci intermittent, leadership”. B Photo: ReuteRs

ft.com/BUSineSSedUcation

technology

Too much information

➔ Windows 8’s mobile-style interface can be confusing for PC users to navigate. By Chris Nuttall

here to start? I have or tablets, which indicates how topsy- been trying to change turvy things are in this post-PC world the habits of a com- Apple likes to talk about, where our puting lifetime in a daily computing seems to start on those Wtrial run with a new smaller, more mobile devices. version of Windows on a laptop. The Windows 8 is the first combined start button has always been central to version of the OS. It is designed for my computing experience, like the both tablets and regular PCs, and for ignition key in a car. Remember the first time is compatible with ARM- Windows 95? At the bottom left of the based processors, which dominate the screen sat a Windows symbol and the smartphone and tablet world, as well as word “Start”. Microsoft even pointed the usual Intel chips. the way with the Rolling Stones’ I can understand Microsoft has to “Start Me Up” in its commercials. hedge its bets on the future of devices Start is still there in the current and has been slow to respond to Apple’s Windows 7 – run your cursor over a cir- iOS and Google’s Android as tablets cular logo and the word “Start” pops up. and smartphones have taken off. But Click it and the familiar menu appears. it risks being increasingly irrelevant if But Windows 8 has left me it fails to come up with a better way of 43 disoriented – the Start button has disap- working for us across both worlds. peared. I have been trying the Consumer In trying to cater for the two experi- Preview of the new operating system ences, Microsoft risks not doing the (OS), which anyone can download best of jobs for either category. That ahead of its full release later this year. was certainly the case in my early trial. In the context of the challenges to There is no easy way of putting the established order of computing on the Consumer Preview on a tablet a desktop PC or laptop, this is the most right now and most screens are not crucial release yet of the dominant OS. optimised for it. While I dabbled with Understanding the new version is Splashtop’s Win 8 Metro Testbed easier if you are used to smartphones app, which mimics Windows 8 on ➤

➔ Take your desktop on the road: apps bring Windows favourites to tablets

CloudOn (iPad, free) OnLive Desktop (iPad, Splashtop Win 8 Metro Windows 8 is expected Android, free) Testbed (iPad, $49.99) to be accompanied by a OnLive is known for its Splashtop apps offer version of Microsoft’s Office console-quality cloud gam- remote control of a desktop specially designed for touch and tab- ing, but its new Desktop app serves up PC or laptop and this pricey Win 8 Test- lets. But there are already ways to use a touch-enabled Windows 7 desktop bed version requires you first to install this familiar suite on mobile devices. on Android tablets and the iPad with the Consumer Preview of Windows 8 on CloudOn’s free iPad and Android app Word, Excel and Powerpoint icons to one of your machines. You then access it allows online connection to authentic tap and open fully featured programs. remotely, with the iPad app giving a full- versions of Word, Excel and Powerpoint Others are also provided, including screen view of your desktop, effectively for creating and editing documents Paint, Calculator, Internet Explorer turning the iPad into the Windows 8 in the cloud. They can be saved and and Adobe Reader. OnLive offers 2Gb tablet yet to appear in stores. Splashtop opened from online storage services of free storage for your files, while has enabled touch, meaning tapping Dropbox and Box. The menus, though monthly subscription plans offer more on Windows tiles and swiping rough small, respond accurately to touch. space and faster speeds. menus transforms the experience.

photo: ed robinson; illustration: nick lowndes ➤

ft.com/BUSineSSedUcation

technology

an iPad, I ended up installing the OS on an Asus Zenbook X31E laptop provided by Intel as a sample of the new thin ultrabook category it is promoting. Unfortunately, this has an awful keyboard that kept miss- ing letters as I typed. Worse still for Windows 8, its trackpad was unable to mirror key touch gestures of the operating sys- tem, such as swiping up and down. The lack of specific driver software for the Asus may be to blame, but it contrasted sharply with the gestures I can use smoothly on the trackpad of a MacBook Air in Apple’s operating system. Windows 8 opens with a start screen rather than a start button. It is a mosaic of coloured tiles representing differ- ent options, applications and information services. Typically these are for photos, music, videos, games, books, shopping, social network messages, weather, stock prices, maps and services such as email, calendar and remote storage. This “Metro” interface will be familiar to users of Win- dows Phone 7 smartphones. Its big square buttons can be pushed easily by fingers, in contrast to the menus and lists we are used to accessing with a mouse. While the tile mosaic can be personalised, it looked confusing – like sitting down at a desk covered with papers, rather than a clean desktop. Microsoft seems to assume people want these distractions of tweets, headlines and stock information when they sit down at a computer. In practice, I prefer this In trying to be post- on a mobile device when I am on the go and catching up with things. PC, Microsoft is in Another problem is that bring- danger of leaving ing Windows 8 fully to life in the way Microsoft envisages – the behind the needs tiles are “live”, showing current of traditional users information – requires the user to sign up for its services, such as Windows Live, Xbox Live, SkyDrive and Hotmail. I found I could get to a clean, familiar Windows desktop by clicking on one of the tiles, but then finding my applica- tions without the Start button was a problem. A new feature called Charms – pop-up sidebars – was little help either. These are context-sensitive, so they offer features such as search that are pertinent to what you are doing at the time rather than the global overview that Start provides. I finally got my bearings when I found that right-clicking in the bottom left of the screen in the tiled Metro view brought up a bar with a view of “All Apps”, a full screen list of every program and service. Many users have criticised the complexity of navigating Windows 8’s radical look, and this is clearly getting in the way of appreciating its new features. In trying to be post-PC, Microsoft is in danger of leaving behind the needs of traditional users. 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PHOTO: TYRONE TURNER