MEET THE FACULTY

Josep M. Oroval Silviya Svejenova “Some of the strategies put in place by “Entrepreneurial leadership, which is about major distributors which are supposed to the willingness and ability to challenge the benefit consumers are, in fact, harmful received wisdom and reinvent a sector, is for the economy and society” crucial for any company’s competitiveness.”

[email protected] [email protected] Lecturer in the Department of Marketing Management at ESADE and Associate Professor of the Department of Business Policy at ESADE, Silviya Svejenova holds a PhD in President of the ESADE Alumni Communication Club, Josep M. Oroval Management. She has graduated from the EECPCL postgraduate Entrepreneurship course at Harvard (Lic&MBA 66 and PMM 80) is Director of the Brand Centre at ESADE, Business School. Before joining ESADE, Silviya was a lecturer at the Cranfield School of Management Director of the Executive Master, the Master in Marketing and Sales in the UK. She has been a member of the Board of the EGOS (European Group for Organizational Management and joint Director of the Strategic Communication Management Studies) since 2004 and co-convenor of the Creative Industries track at EGOS conferences since programme. He has combined academic life with business as founder and 2002. Her book Sharing Executive Power (Cambridge University Press) was chosen as one of the partner of several marketing and communication services companies. three best books of 2007 by the Academy of Management.

1. I did the management MS 01), Associate Professor 1. I met a group of people to go the whole nine yards degree programme at ESADE, of the Department of Business from ESADE at a conference and launch a project they’ve attracted more by the education Policy and Deputy Director in Brazil who suggested developed in class. than the profession. Since General of ESADE, and me to I apply for a post in the then I’ve been able to combine attend the 25th anniversary Department of Business 6. Energetic, creative, academic pursuits with celebration of their graduation. Policy. After a number of someone who offers support business in executive posts I really like that kind of thing. interviews and a visit to the and inspires. and setting up a number of campus, they offered me the companies. 6. I hope they would see job and I came to Barcelona. 7. There are lots of things me as someone interested in I hope to have the time to do 2. The chance to come into their education as a person, 2. I think there’s a one day… contact with a professional in addition to just the subjects combination of thought- environment and hence get a being taught. provoking ideas, frameworks 8. Entrepreneurial, growing, practical look at things you’ve and learning experiences versatile. studied. 7. My doctoral thesis. Every (from role plays to case time I’ve started it I’ve found studies on video) and good 9. I like learning about 3. Communication and brand that either I don’t have enough interaction with the students. and enjoying art in all its strategy, as part of corporate time or perhaps I’m not different forms. I also enjoy strategy and linked to the prepared to set aside enough 3. At the moment I’m discovering the charms of company’s results. time. But I still haven’t given looking at how executives Barcelona and the other up on it. work and develop innovative places I visit in Spain and 4. In the mass consumer business models. I’m also around the world. And last goods market, some of the 8. Humanist, innovative, continuing to work on co- but by no means least, I love strategies put in place by major cosmopolitan. leadership issues and the spending time with my family distributors which are supposed organization and management and friends. to benefit consumers are, in 9. I’m keen on culture and of companies in creative fact, harmful for the economy art (music, opera, theatre, sectors. 10. The wife of an MBA and society. Constantly sculpture) and I like doing student was inspired by the increasing the share of own- sports (over the years rugby, 4. Entrepreneurial case of Ferran Adrià, which brand products at the expense rowing, cycling and golf). leadership, which is about we’d looked at in class, to start of manufacturer’s brands, for the willingness and ability playing with ingredients and instance, reduces company 10. A student whose father to challenge the received making up fun recipes which innovation and competitiveness had died in an accident laughed wisdom and reinvent a sector, she shared with her family and and is detrimental to the at the advice I was giving him is crucial today for company friends. Now she’s about to trade balance. For household at the request of a good friend competitiveness. There publish four cookery books for economies, the obvious short- of mine who was also one of are two essential things at modern, busy women; she’s term saving has a high medium- his relatives. He didn’t need to work here: consistency and been helped by an illustrator term cost with respect to jobs study, he said, as he was going timely transformation of the from Pixar, an American and income. to inherit a large company. The company’s business model, publishing house, and she’s company went bankrupt within and proactive innovation and had the support of her husband 5. People remembering you the year and together we learnt talent management. on the business side. in a positive light, not just that what you are is more disappearing off the radar. This reliable than what you have. 5. It’s really rewarding year the class of 84 asked when you see students dare Eugenia Bieto (Lic&MBA 73, PhD You can look up ESADE faculty and associates at www.esade.edu (see Faculty and Research) 51

050-051 Claustro_ING.indd 51 8/1/10 14:43:05 LEGAL AREA The criminal liability of legal entities

THE CRIMINAL LIABILITY OF LEGAL ENTITIES IS NOW A FACT. SPAIN’S COUNCIL OF MINISTERS HAS DECIDED TO SEND A DRAFT BILL TO THE SPANISH PARLIAMENT TO AMEND THE 1995 PENAL CODE WITH RESPECT TO LEGAL ENTITIES. THIS WILL MEAN THAT A LEGAL ENTITY CAN BE HELD CRIMINALLY LIABLE IRRESPECTIVE OF WHETHER A PERSON HAS BEEN CONVICTED.

Professor of Criminal Law in the Department of Public Law at ESADE-URL. PhD in Criminal Law from the University of Barcelona in 1998. He has taught at various Spanish law faculties and is the author of several publications, including El delito de acusación y denuncia falsas. MARC GARCIA SOLÉ

he legal maxim “societas natural persons and this new be underestimated; its complex delinquere non potest” sub-system of criminal liability. structure of centres, organisati- T (legal entities cannot Up to the present the criminal ons, managers, intermediaries, commit a criminal offence) has liability of a legal entity was only kinds of business, ones acting been overturned; doubts about possible based on the so-called as an instrumental or front whether a legal entity can be “accessory consequences” (art. company, etc. makes assigning held criminally liable have given 129 in the PC). However, these criminal or other forms of liability way to its legal confirmation. were consequences that were extremely difficult. The most recent reform of cri- additional to the main one which minal law, in line with repeated consisted of imposing a criminal DEBATE THAT GOES doctrinal demands and legisla- penalty on a natural person: “I BEYOND SPAIN tive precedents in Europe, lays can’t close the company down if Jurists in both Spain and abro- down that a legal entity can be no individual has been con- ad have been discussing the held liable for the commission victed of, say, concealment of issue of whether a legal entity of a crime. Companies which property”. can be held to be criminally commit offences can thus The result in practice of the use liable for years, and there is be fined, disqualified or even of these accessory measures a lot of criminal law literature wound up. has been nigh on zero, since which argues the need to set The idea that legal entities save in terrorism or drug-traffic- out the criteria for the criminal cannot commit offences be- king cases virtually no sentences liability of legal entities once cause only natural persons can have been handed down based and for all. English-speaking be penalised, since the latter, on article 129 in the Penal countries, which are less do- and only the latter, can have Code. This has led to numerous minated by the idea of always the intent to commit a crime criminal convictions for economic linking criminal law and natural (especially crimes such as offences which have left the persons and are more aware fraud, appropriation or concea- legal entity still operating. The of social needs (a major rise in ling of property, etc.), has been hazard of keeping a legal entity crimes committed by compa- overturned with this reform. running which is being used to nies), see the criminal liability There will now be two systems commit serious economic or of a legal entity as being quite 52 in place: the traditional one for other types of crimes should not normal, and the US model has

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been used as the basis for the Nonetheless, the need to ensure front needs to be ditched once Spanish reform. the liability of entities should not and for all. The purpose of the One way of committing crimes lead to criminal investigation of legal entity cannot be to enable with impunity is to use the cover individuals being dropped, as it or constitute an offence, but of a legal entity. New forms of would be absurd to prosecute instead it should seek out criminality including financial a legal entity, a public limited self-regulation mechanisms (for corruption, fraud, large-scale company say, and forget that protection and control of what appropriations, corporate crime, behind it there are the people is done in and with them and environmental felonies and who are allegedly responsible for what the limits are) in order to offences against minors use the crimes. support the State in controlling legal entities as a shield to avoid criminal liability. Economically and politically The idea that legal entities cannot commit powerful social forces also crimes because they do not have the capacity employ the design, structure to act has been overturned with this reform and complexity of legal entities as key components in their ne- tworks of corruption. There may The idea that a legal entity can new risks, protecting share- thus have been a political, penal be employed as a cover for cri- holders and consumers and and social need to put an end to minal actions which use it as a preventing crime. the enormous abuses of these social entities and achieve some measure of control over them.

THE SHADOW OF THE REFORM The modification of criminal liability to include legal entities will not be devoid of problems. These will include instances of money laundering, which links legitimate companies with illegal firms or associati- ons and will require liabilities to be sorted out in a highly complex setting. There are, for instance, companies which in good faith buy from or sell to other enterprises which use any commercial deal they are involved in to launder cash, and this means judges will be called on to decide which companies have committed offences and which have not. It is true that it will be possi- ble to declare a legal entity to be liable irrespective of the conviction of a natural person. 53

052-053 Espacio juridico_ING.indd 53 11/1/10 10:45:12 MOVING ESADE

Successful first collective donation by ESADE alumni

THE LIC&MBA CLASS OF 88 HAS SET UP THE FIRST PERPETUAL SCHOLARSHIP AT ESADE FOR STUDENTS WHO ARE ACADEMICALLY EXCELLENT BUT LACK FINANCIAL RESOURCES.

or some time now ESADE class is right behind ESADE’s has been making strenuous campaign to capture talent”. F efforts to increase the sig- This support has been ex- nificance of private contributions pressed through mobilising the to its financial structure. This class, with all members who financing model is widely used at wished to take part making a the world’s leading schools and financial contribution which has helps to drive an institution’s fu- gone towards setting up a schol- ture projects including attracting arship bearing the class’s name: talent by means of a structured the Class of 88 Scholarship. programme of scholarships. In addition the initiative also has ESADE is currently seeking to a big social component. “We foster a culture of support for are committed to the progress the institution, and the Lic&MBA of the country and to the role class of 88 scholarship forms which an institution like ESADE part of that. can play to help companies and organisations in general to GROUP SUPPORT get better,” says Joa quín Acha FOR TALENT (Lic&MBA 88), another of the A school such as ESADE needs people behind the project. “We to drive the development of are entrepreneurs and we want talent and should be able to to give the chance to others to attract young people who want become the same.” to learn, innovate and make Another of the reasons for this progress irrespective of their pioneering scholarship is to keep financial resources. This is up links with ESADE. “It’s about the idea that lies behind the going back the beginning, getting scholarship initiative from the together with your classmates Lic&MBA class of 88; as one and pulling them together of its promoters, Diego Torres behind a shared goal,” says 54 (Lic&MBA 88), puts it, “our Xavier Vidal (Lic&MBA 88),

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What has ESADE managed to do so far in its donations programmes?

• Private contributions have quadrupled over the last four years. • Contributions to scholarships have risen by 187% over the last four years. • More than 100 organisations philanthropically partner ESADE. • For the first time ESADE has set up an endowment fund which at the end of the 08/09 academic year came to €3 million.

who has also helped to get the scholarship off the ground. The project is now up and running and this academic year a student is reading for a Bachelor of Business Administration thanks to the scholarship.

ENDOWMENT: LEAVING A LEGACY WHICH LASTS FOR EVER The contributions of the alumni have been used to set up an endowment fund which makes it possible to pay half the enrolment of a student on the Bachelor of Business Adminis- tration programme. The idea is that this fund will give a return every year which is equivalent to the tuition fees of one or more students, thus meaning that the scholarship can be awarded in perpetuity.

MORE INFORMATION ABOUT THE LIC&MBA 88 SCHOLARSHIP Joaquín Acha: [email protected] • Xavier Vidal: [email protected] • Diego Torres: [email protected] 55

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Some of the people behind it

CECILIA CHANG ELENA PUNCERNAU SANTIAGO FONT JORDI AGUSTÍ (LIC&MBA 88) (LIC&MBA 88) (LIC&MBA 88) (LIC&MBA 88) “As a member of ESADE Alumni “One donation on its own may “A number of things coming toget- “This initiative opens a door, but it is both a privilege and a res- not seem much, but put them all her have made the project into a many more could also be opened ponsibility to be able to help the together for this scholarship and success, with the incentive and if all the potential of ESADE alum- Lic&MBA class of 88 to set up a you have a great success story.” commitment of giving back to our ni could be used.” scholarship.” society some of that talent that it has given us.”

If you’d like To set it up class members came THE FUTURE; LIC&MBA more information up with the idea of making a con- CLASS OF 88 AS about our projects, please tribution of €1,000 per person. TRAILBLAZERS get in touch with: The initiative also seeks to be- GREAT RESPONSE come a model for other classes ESADE Corporate Development As the people behind the project to copy and achieve follow Tel.: +34 934 952 058 point out, “the great thing was through in the future. Indeed, [email protected] getting 25% of our class to come other groups of alumni are al- Inspire yourself and inspire us on board”. This is a consider- ready starting up their own talent www.mueveESADE.com able achievement given that the scholarship projects. average alumni participation rate for donations in the US comes In July ESADE sent a survey to all the students, alumni, to 12%. lecturers and staff in its community to find out the views of ESADE’s internal stakeholders about a possible programme of individual donations. The results of the survey can be viewed at www.mueveESADE.com

THANkS TO THE LIC&MBA CLASS OF 88! Jaume Abad Joaquín Acha Jorge Agustí Josep Bonafonte Eugeni Brotons Mª Angels Bosser Nuria Bosch Rafael Antonio Campo Cecilia Nan-Yeh Chang Joan Jesús Domingo Magda Espuga Eduardo Flo Santiago Font Juan Bosco Fonts Fundación Maite Iglesias Baciana Emmeline Gancedo Ramón García José Javier Geis Francisco Gibert Joan Guerra Ana Medina Esteban Mogas Laura Muñoz Alessandro Peirano Andreu Puig Elena Puncernau Ernest Quingles Enric Rovira Xavier Sánchez Pedro Sitjar Santiago Tintoré Diego Torres Martín Torres Isabel Triginer Alfred Ignasi 56 Vernis Xavier Vidal Emilio José Vilaseca

054-056 Fundraising_ING.indd 56 11/1/10 10:51:27 XV ESADE ALUMNI ANNUAL CONFERENCE IN BARCELONA 22 APRIL MAKE A NOTE IN YOUR DIARY! V ESADE ALUMNI ANNUAL CONFERENCE IN MADRID 20 may

MORE INFORMATION SOON AT WWW.ESADEALUMNI.NET

057 Anu Venalajornada_ING.indd 1 8/1/10 14:55:09 ESADE NEWS

Official inauguration of the Sant Cugat Campus

THE PRINCE AND PRINCESS OF ASTURIAS AND GIRONA LED THE OFFICIAL OPENING OF THE NEW ESADE CAMPUS AT SANT CUGAT DEL VALLÈS (BARCELONA). THE PRINCE OF ASTURIAS SAID THE NEW CAMPUS WAS AN “ENTERPRISING INITIATIVE” AND EXPRESSED HIS SATISFACTION WITH THE APPEARANCE OF “INNOVATIVE PROJECTS” LIKE THIS ONE.

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he Prince and Princess of future of our country and to the expressed his satisfaction at the Asturias and Girona led the improvement of our society”. appearance of “innovative pro- T inauguration of the new The Prince of Asturias in turn jects – like the new ESADE Crea- ESADE campus at Sant Cugat.­ said that “it is crucial that all polis concept – which have been During the ceremony, Pedro Fon­ areas of activity contribute to- put in place to nurture synergies tana (Lic&MBA 74), Chairman wards creating new entrepreneu- of the Board of Trustees, said rial initiatives that act as seeds “This educational project rests on that “in times of uncertainty for the future with which to furt- foundations that will turn ESADE into such as the present, more than her advance the task of moderni- an international centre of excellence,” ever we need facilities that inspi- sing business structures.” said the Prince. re futures and offer entrepreneu- He also stressed that “this rial vision and active support to educational project rests on between universities and compa- companies”. foundations that will turn ESADE nies which foster innovation and In the current difficult econo- into an international centre of increase the competitiveness mic climate, Carlos Losada excellence” and argued that “we of Spain’s production sectors”. (Lic&MBA 81 and Ph. D. in have to adapt and innovate if This educational project rests on Management Sciences 03), we are to deal with a constantly foundations “that will turn ESA- Director General of ESADE, noted changing scenario”. DE into an international centre of during his speech that invest- During the inauguration of the excellence”. ment to build the new ESADE ESADE Campus at Sant Cugat These foundations are “the com- campus and the ESADE Crea- del Vallès, the Prince of Asturi- bination of academic rigor and polis building is “an example as defined the new campus as exigency with humanist values of ESADE’s commitment to the an “enterprising initiative” and which inspire personal develop- 59

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ment and social responsibility LEADING POLITICAL, houseCoopers), Benet Carbonell that produces people who are SOCIAL AND ECONOMIC (Copcisa), Enric Casi (Mango), not only skilled businesspeople FIGURES Antonio Esteve (Esteve), Jordi and lawyers but also committed The event was also attended Miarnau (Com sa), Mariano Puig citizens,” he said. by leading figures from the (Puig), Xavier Puig (Flamagas), political, social and economic Xavier Queralt (MBA 84) (BBVA), sectors in Catalonia. They inclu- Manuel Raventós (Raventós & The Prince stressed that “we ded Ernest Mara gall, Minister Blanc), Manel Rossell (DIM 92) have to adapt and innovate in a of Education in the Government (Caixa Manresa), Josep Maria constantly changing scenario” of Catalonia, Màrius Rubiralta, Serra (Catalana Occidente), Joan Secretary General for Univer- Ma nuel Soler Pujol (Lic&MBA sities, Lluís Recoder, Mayor 68) (Quadis) and Joan Uriach of Sant Cugat del Vallès, Joan (Labora toris Uriach). Rangel, Spanish Government representative in Catalonia, MEETING WITH STUDENTS Esther Giménez-Salinas, Rector In addition, the Prince and of Ramon Llull University, Lluís Princess of Asturias chatted a Mar tínez Sistach, Cardinal Arch- hundred-strong group of ESADE bishop of Barcelona, and Lluís students enrolled on Bologna- Magriñà, Provincial Superior of adapted programmes which the Jesuits in Catalonia. ESADE has been teaching for a Businesspeople to attend the ce- number of years. This gave the remony included Joa quim Borràs students their chance to share (Lic&MBA 80) (ISS Facility Servi- their “Bologna experience” with ces), Xavier Brossa (Pricewater- the Prince and Princess.

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058-065 Noticias esade_ING.indd 60 11/1/10 10:57:28 ESADE NEWS Cristina Garmendia, Minister of Science and Innovation, opens ESADE Creapolis

CRISTINA GARMENDIA, MINISTER OF SCIENCE AND INNOVATION, OPENED THE ESADE CREAPOLIS PARK WHICH HOSTS MORE THAN FORTY COMPANIES WITH A SHARED GOAL: SPEEDING UP BUSINESS INNOVATION.

Cristina Garmendia, Minister of Innovation, Universities and centre run by ESADE in conjuncti- Science and Innovation, said Enterprise in the Catalan on with Avançsa (Government of during the opening of ESA­ Government. Catalonia), Sant Cugat del Vallès DE Creapolis that this kind of The event began with a tour Town Council, Caixa Manresa, innovation park complements of the facilities which gave the “la Caixa”, Caixa Catalunya, Cai- science and technology parks politicians the chance to greet xa Sabadell and the Sant Cugat and stressed the importance managers at the companies on Business association. of business schools getting the site. The park, which has been ope- involved in running compa- rating since the start of the year nies to drive innovation and alongside the ESADE university competitiveness. “Enterprises “Enterprises which cam­pus, can accommodate 70 which invest in innovation and invest in innovation and companies which currently in- research will weather the crisis research will weather clude BBVA, Laboratoris Esteve, better and get better results,” the crisis better,” said Roca and VertisubGroup. she said. ESADE Creapolis alre- Garmendia ady hosts innovative companies of different sizes and nationa- lities whose shared goal is to Then the official inauguration develop new ideas as a result ceremony took place at the of working alongside firms from Sant Cugat del Vallès Theatre other sectors. The official inau- Auditorium. ESADE Creapolis guration of the innovation park, is an international innovation which has been operating since February, was also attended More information at www.esadecreapolis.com by Josep Huguet, Minister of 61

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Start of the 2009-10 ESADE at the Centre academic year for Transnational Juan José López Burniol, notary and member of the Legal Studies (CTLS) Board of Trustees of the ESADE Foundation, gave the opening talk entitled The Permanent Value of Law. The ESADE Law School is taking part in this world inter-university The event, held at ESADE’s rector General of ESADE. López alliance in this academic year Barcelona cam­pus, was atten- Burniol spoke to students about through Professor César Arjona ded by leading figures including the idea that “there is economic Esther Giménez-Salinas, Rector progress only because there is and six students. of Ramon Llull University, Jesús a market, but there is a market M. de Alfonso, president of the only because there is legal The centre is a globalised campus with lecturers Barcelona Arbitration Tribunal, certainty.” He then reviewed the and students from the world’s leading law faculties Pedro L. Yúfera i Sales, Senior origins of the legal order and no- specialising in international, transnational and com- Member of the Barcelona Bar ted that it is “a binding plan for parative law. In addition to the ESADE Law Faculty it Association, and Carlos Losada coexistence under the law which consists of another nine of the world’s foremost law (Lic&MBA 81 and Ph. D. in makes us all free and makes us faculties. Each of the CTLS founder faculties, one Mana­gement Sciences 03), Di- all equal.” of them being ESADE, provides 1 or 2 lecturers and between 5 and 10 students per semester. Profes- sor César Arjona, from the Department of Public Law at ESADE, is to teach during the fall semester at the CTLS, which is based in London. The pro- gramme will also be taken by three students from the Bachelor’s and Master’s degrees in Law and three from the Master’s in Company Law, speciali- sing in International Business Law.

More information at www.esade.edu/web/en/news_events/ news � Launch of 2009-10 academic year

ESADE and the UPC win biggest European sustainable energy innovation project The entry headed by ESADE and the Polytechnic University of Catalonia (UPC) has won the European competition to create InnoEnergy, a sustainable energy innovation project which will entail an initial outlay coming to €450 million over the next four years.

The European Institute of Inno- Centre, which is to drive exce- centres such as IREC, CIEMAT vation and Technology (EIT) held llence, network development and and CEA also contributed to the a competition to set up three collaborative innovation in the six design of the bid. major knowledge and innovation European operations centres, at The project goal for the first four communities (KIC). InnoEnergy ESADE Creapolis. years is to train more than 1500 is to be the KIC for sustainable students in specific international energy and will be coordinated PARTNERS programmes in order to produce by Elena Bou, lecturer in the The two institutions teamed up technology leaders who also Department of Operations and for the competition with ener- have a wide-ranging entrepreneu- Innovation Management at ESA- gy companies including Gas rial culture. Furthermore, over 60 DE. The other two centres will Natural-Unión Fenosa, Iberdrola, new patents will be created and deal with the information society EDF, Vattenfall, ABB and Total. 50 start-ups launched. and climate change. ESADE is to The Royal Institute of Technology be the key business school for in Stockholm, Sweden, and the all the InnoEnergy KICs and will Karlsruhe Institute of Techno- 62 host the Innovation Development logy in Germany, and research

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Javier Solana joins ESADE

Javier Solana, who for the last ten years has been the European Union’s High Representative for Foreign and Security Policy, has joined ESADE Business School as President of its new Centre for Global Economics and Geopolitics.

“I am joining ESADE, an institution of excellence Carlos Losada (Lic&MBA 81 and Ph. D. in Mana­ and academic rigor, as part of a project to set gement Sciences 03), Director General of ESADE, up an international reference centre about the said that ESADE is pleased to have Solana’s “major evolution of global society,” said Solana. He also contribution to launching this new international commented that he aims to establish relationships centre designed to drive thinking and debate about with other international centres of excellence that the globalised world of the 21st century.” will support this goal. Solana is also to teach on some of ESADE’s pro- grammes for managers and take part in activities About the ESADE Centre for for degree and MBA students and alumni. Global Economy and Geopolitics A CAREER IN FOREIGN POLICY Solana holds a doctorate in Physics and is a The new ESADE Centre for Global Economy and Geopolitics is to deal with tenured professor at the Complutense University issues including the global economy, geopolitical analysis and best practice of Madrid. He became a member of the Spanish in governance for the main public policies used around the world. It seeks Parliament in 1977 and was a minister in the Spa- to become a centre for thinking, academic work and public discussion nish Government from 1982 to 1995, including a that is useful for public institutions, multinationals and international spell as Foreign Minister. In 1995 he was appointed foundations. It is to have the support of a large group of ESADE lecturers Secretary General of NATO, a position he held until who are experts in areas such as company internationalisation processes, 1999 when he became the EU’s High Representati- macroeconomics, public management and leadership. ve for Foreign and Security Policy.

ESADE launches InnovaRH ESADE together with some of Spain’s top companies has launched the first think tank designed to carry out research and foster innovative corporate talent and suggest fresh ideas about managing it.

InnovaRH is a pioneering think Caja Navarra, DKVSeguros, tank which provides Spanish Microsoft, MRW, Nestlé España, companies with innovative hu- Puig, Vodafone and 3M España. man resources ideas that enable The project is divided into three them to enhance their talent sections: the InnovaRH ideas management. The initiative, set and research laboratory, the up by Siemens and the asset InnovaRH forum where the labo- management firm Villafañe & ratory’s results will be presented Asociados, also involves Grupo and shared, and the InnovaRH Novartis, the ONCE Foundation, knowledge network. 63

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III Annual ESADE Social Enric Casi kicks off Innovation Institute Conference the “Caixa Catalunya and ESADE Dialogues CSR: the challenge of responsible leadership at La Pedrera” was the title of the III Annual ESADE Social Innovation Institute Conferences held in Madrid Mango’s General Manager and Barcelona. was the first speaker in this conference series. The III Annual ESADE Social Innovation Institute Conference held in Madrid began with a talk by Thomas Maak, Visiting Professor and collaborator with the ESADE Social Innovation Institute. After his lecture, Juan Ignacio Entrecanales, Vice-President of Acciona, Pedro Vázquez, Assistant Director at Bancaja, and Carlos Mas, President of Pricewa- terhouseCoopers (PwC), took part in a roundtable discussion on corporate social responsibility (CSR) moderated by consultant José Án­gel Moreno, at which they spoke about their own experiences with CSR. The event was also attended by Ignasi Carreras (SEP 06), Director­ of the ESADE Social Innovation Institute. In Barcelona, the conference featured a talk by Mango, the keys to growth was the subject cho- Nicola Pless, Professor in the Department of Social sen for the first session of the “Caixa Catalunya Sciences at ESADE and collaborator with the ESADE and ESADE Dialogues at La Pedrera”, a joint Social Innovation Institute. Following this Enric initiative by the two institutions to offer a new Casi, General Manager at Mango, Antoni Esteve, venue for reflection and debate on the future of Chairman of Esteve, and Fermí Pons, Director of the economy and business in the 21st century. Community Projects at Caixa Sabadell, took part in The sessions will be held in the refurbished a discussion moderated by Ariadna Trillas, a journa- auditorium of the Pedrera de Caixa Catalunya, list at El País. in the centre of Barcelona, and are particularly relevant to entrepreneurs and managers working in public, private and third sector organisations in Catalonia. During the session Enric Casi, , General Manager at Mango which has 1,320 stores around new ESADE slogan the world in 93 countries, spoke The slogan chosen to mark ESADE’s 50th about the firm’s anniversary in 2008 will from now on form part business model and strategies of the business school’s corporate image. accompanied by Professor The challenge which drives ESADE is to conti- Marcel Plane­ nue to be an international benchmark school llas (PMD 87), which inspires futures in business and law by co-author of The educating people to become good professio- Mango Case nals and citizens. Hence the slogan inspiring and secretary futures has taken on greater prominence in gene­ral at ESADE’s corporate image since the start of ESADE. the 2009-10 academic year, and it is gradually being brought into all the institution’s events and facilities. This decision has been based More information at www.esadealumni.net � Activities � Forums and conferences on the slogan’s great success in 2008 and its ability to express what makes ESADE different from other business schools. 64

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Book From: Marcel Planellas (PMD 87) To: Readers of the ESADE Alumni magazine presentation: Subject: “Dios, tienes un e-mail” ‘Dios, tienes The authors of this surprising book are two lecturers in the Department of Econo un e-mail’ mics at ESADE, Luis de Sebastian and Josep Sayeras, and the idea of writing it arose as a bit of fun during the downtime between International Economics cour - ses at the JSC Central American University of El Salvador. ESADE’s Barcelona campus hosted the launch of - Dios, tienes un e-mail (Ariel), the posthumous book While in a Judeo-Christian tradition like ours it is no surprise that people on the verge of desperation send letters to God (“Help me Lord, in this dark hour”), the by Emeritus Professor Luis de Sebastián written novelty here lies in the fact that the letters are replied to. “Everyone knows that if in conjunction with Associate Professor at the you talk to God you’re religious, but if God talks to you you’re mad,” say the au Department of Economics at ESADE, Josep Sayeras thors. But this formula allows Sebastián and Sayeras to deal with up-to-the-minute (Lic&MBA 93 and Ph. D. in Management Science situations and problems in an informal way - 06). Carles Comes, Honorary Professor in the De- . partment of Social Sciences at ESADE, José Ignacio The more than thirty “human” e-mails, written with irony and sarcasm, are reflec González Faus, Professor at the Faculty of Theology tions of a reality marked by the economic crisis. They are letters from the unemplo yed, immigrants, businesspeople, speculators, footballers, politicians, economists,- of Catalonia and a member of Christianity and Justi- university students, pensioners, homemakers and Ministers of the Economy - ce, and Arturo San Agustín, writer and journalist at amongst others, which rail against the injustices of life and ask for advice or El Periódico, shared their own personal e-mail with simply favours. attendees. The event was moderated by Marcel Pla­ nellas (PMD 87), Professor and Secretary General The “divine” replies – from Sebastián and Sayeras’ at ESADE. The book consists of a series of letters that are quite the opposite of those of the senders. TheyGod –are are the steeped feelings in offeelings a patient and merciful God who is good and generous and wants to give succour and in which the unemployed, immigrants, people with answers to those who come to Him for help and advice, a God who knows quite mortgages and many others complain to God about a lot about economics and who speaks sarcastically about economists’ ability to the injustices of everyday life. predict the future.

The last e-mail is very special as it is written by just one of the authors, Josep Sayeras, and is addressed to the other one, Luis de Sebastián, who died unexpec tedly before the book had been completed. It is a letter written from the heart and commenting ironically, in line with the general tone of the book, that God must have- been so anxious to read it even before it was finished “that he just had to meet with you directly to get the preview.”

It is thus Luis de Sebastián’s posthumous book, a final intellectual gift from his partnership with Josep Sayeras, to help us achieve a better understanding of economics and of the world in which we live. It is a farewell from a great teacher, who was committed to helping the most disadvantaged and striving for a fairer and more charitable world.

Business BUILDING A NEW meeting ECONOMIC MODEL for alumni key factors for a Deusto­Comillas ICADE­ESADE competitive economy

25 February 2010 ­ Madrid Municipal Conference Centre, 7 pm.

A forum for identifying, discussing and Three leading educational institutions sharing best practice and solutions in the organising the biggest alumni business new economic environment. meeting. Partners: Event Partner:

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058-065 Noticias esade_ING.indd 65 11/1/10 10:57:53 066-068 CasosEmpre_ING.indd 66 66 BUSINESS CASES

RAMON PALACÍN Management and Control Management andControl ofFinancial oftheDepartment Lecturer [email protected] (MBA 95) Buy Out Management ambitious business plan,while if thecompanyistofulfilan essential the peoplewhoare know howtomotivateandlead Theyhaveto iscrucial. director managing the of role The yourfuture. ing abletocontrol to makealotofmoneyandbe- havingtheopportunity project, te andimplementabusiness - pany includebeingabletocrea forbuyingacom- The reasons shift intheircareers. tomakeastrategic opportunity gement buyouthaveagreat amana- nesspeople through Managers whobecomebusi- COMPANIES LIKE? BUY OUTSTOACQUIRE WHO USEMANAGEMENT WHAT AREMANAGERS I OF BUYINGANDSELLINGCOMPANIES. ARE INCREASINGLY IMPORTANT ASAMEANS NOWADAYS MANAGEMENTBUYOUTS(MBOS) Managers whobecomebusinesspeople able to resell it for a good return. itforagoodreturn. able toresell in justafewyears,andthusbe the valueofcompany’sstock business inawaythatincreases sition. Thegoalistomanagethe debttofinancetheacqui- provide togetherwithbankswho shares, with themanagersbybuying which invest capital firms venture buy outs also often feature buy outsalsooftenfeature gers themselves,management n additiontothebuyingmana- strong motivation for thebuyingmanagerswhorequire professional andwealthimplications A managementbuyouthasmajor should be companies which can should becompanies whichcan They project. tation ofthefuture debt andfinancetheimplemen- the major cashflowstoservice pany isgoingtohavegenerate manage company.on aparent Afterthe dependent cally orcommercially itisnottechnologi- other words one thatisself-sufficient,in company isusually The target OUT TARGETS LIKE? IDEAL MANAGEMENTBUY COMPANIES WHICHARE WHAT ARETHE pressure. greater andexercise set clearrules independence, team, givemore waywiththe shared in amore takedecisions to keyfigures, give afinancialstakeinprofits bank. Afterthebuyout,they andthe capitalfirm venture they alsohavetodealwiththe and leadthebuyingteam.Plus they alsoneedtodrawtogether ment buyout,thiscom-

potential to create valuefor potential tocreate companies whichhavethe investing inthestockof by look togethighreturns financial investorswhich Venture are capitalfirms MANAGEMENT BUYOUTS? CAPITAL FIRMSBRINGTO WHAT DOVENTURE forbuyers. returns time increase moneyandatthesame cessary it possibletogetholdofthene- be leveraged,asthatwillmake which meanstheacquisitioncan le debtontheirbalancesheets litt- the sametimehaverelatively cashflow)andat and growing positioning, generatingreliable holders injustafewyears(good - generate valuefortheirshare 11/1/10 11:01:48 BUSINESS CASES

SOURCES OF VALUE CREATION IN MANAGEMENT BUY OUTS Thoughts about

SOURCE VALUE CREATION management • Choose the target company well buy outs Low purchase price • Negotiate the acquisition well • Make the most of opportunities when companies are up for sale • Facilitates financing the purchase AGUSTÍN PLA VILA Leveraging the acquisition • Increases return for managers and venture capital firm (LIC&MBA 80) • Increase in sales and margins 3i Europe plc, branch Increase in EBITDA • Cost cutting and control in Spain • Reduction and deferral of investment MBOs began in Spain at Optimisation of the asset • Sale of unnecessary assets the start of the 1990s • Efficient management of stocks, collections and payments and although by number • Choose the time when potential buyers are optimistic they only made up a small part of ven- • Have a number of interested buyers ture capital operations, by amount they High exit price • Negotiate the sale well became after 2000 the most dynamic • Good positioning of the company and good future prospects part of the market and absorbed the bulk of the funds invested by the sector, boosted by the ease of getting financing from the banks. COMMITMENT After a long series of highly successful Investing a significant sum to transactions, and even though MBOs buy stock remain an attractive product, the recent ExPERIENCE financial crisis and consequent credit Relevant experience restrictions have seriously affected their CHARACTER in the sector and in development, and in particular the seg- With initiative, ambitious, similar companies ment we might call the mega deals. motivated and highly dedicated Nonetheless, they are still a formula which if combined skilfully can be successful. In my view I think that these types of transactions will recover their TEAM previous prominent position as market • From 1 to 5 people confidence recovers. • Cohesive and compensated management team JOAN SUREDA (LIC&MBA 77) Atelier Capital AGE My view is that there From 35 (energy) to 55 haven’t been that many (experience) MBOs recently due to the high level of risk that they entail. Any company purchase is hazardous anyway, which means that if you add to this a radical change in such MANAGING DIRECTOR a sensitive component as the leadership • Previous successful experience as a managing of the business, the overall risk of the director transaction increases exponentially. • Greater investment in stock However, factors such as experience than rest of team of the executive in the sector and their • Clear leader of the team professionalism and the professionalism • With a clear vision of the of their team may substantially reduce, company’s project and firmly though never entirely eliminate, this convinced of its viability risk. After having led three MBOs during • Being able to lead teams my career as an executive, I know that • Hardworking with a lot of enthusiasm and drive no matter how much you know about a • A lot of self-confidence sector and analyse a business, they all • Able to take risks when have at least one hidden “difficulty” (or making decisions more than one!) which you only find once you’re on the inside. As a result, caution in financial forecasts and reserves are absolutely critical to be able to handle these difficulties without endangering the project’s viability.

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shareholders, and to do that ideal entry means first of all they are prepared to accept choosing the target com- a higher risk. As they are pany well and then secondly specialists in management negotiating the acquisition buy outs, their contribution in so that you end up paying a all the stages of the process low price. is very important. In the ideal exit, managers The combination of buying and the venture capital firm managers (initiative, strong need to present a company dedication to and knowledge with a good track record, one of the business), venture which has a sound finan- capital firm (ambition and knowledge of the process) As specialists in management and bank (rigor and pressure) buy outs, the contribution made by is often synergetic. venture capital firms is crucial in all the stages of the process WHAT ARE THE MAIN SOURCES OF cial structure, good market VALUE CREATION IN positioning and sustainable MANAGEMENT BUY OUTS? competitive advantage which Value creation and the return enable it to grow profitably. obtained by buying managers Plus they also have to pick a and the venture capital firm time when economic circums- will depend on the entry and tances mean that potential exit price of the company. An buyers are optimistic.

CONTRIBUTION MADE BY VENTURE CAPITAL FIRMS IN EACH STAGE OF A MANAGEMENT BUY OUT

STAGE CONTRIBUTION MADE BY VENTURE CAPITAL FIRM

• Choosing the right target companies Pre-acquisition • Choosing the right managers • Choosing the right time

• Negotiating with sellers • Helping to draw up the business plan Negotiation • Negotiating with and incentivising buying managers • Getting debt and negotiating with banks • Designing the financial and legal aspects of the acquisition

• Control and monitoring of managers • Nurturing professionalism and concentration in value creation • Taking part in strategic decisions Post-acquisition • Fostering strategic alliances and acquisitions • Providing additional funds if needed • Providing good image and contacts • Renegotiating debt conditions

• Choosing the right time to disinvest Exit • Finding and negotiating with potential purchasers • Legal and financial instrumentation of the sale

Bibliography De directivo a empresario. Vía Management Buy Out. Ramon Palacín, Editorial Bresca Profit, 2009 68

066-068 Casos Empre_ING.indd 68 11/1/10 11:01:58 EXPERIENCIA CONTRASTADA NOS AVALAN MÁS DE 100 AÑOS EN EL SECTOR

Empresa constructora especializada en edificación, rehabilitación y urbanización

Gran Via de Carles III, 124, 2º - 08034 Barcelona - Tel. 932 523 000 - Fax 932 521 310 - [email protected] - www.luispares.com

Membre del Gremi de Constructors de Barcelona des de l’1 d’abril de 1956

an_lpares_22x28069 Anu Luis Pares_CAST.indd nuevo.indd 1 1 23/12/097/1/10 10:01:1011:59:30 UPDATE EXECUTIVE EDUCATION

BusinessWeek ranking Custom Programs ESADE is world’s fourth Customised training best school in Custom at Banco Santander Programs for companies Executive Education at ESADE According to the Madrid has been appointed ranking published training partner for the bank’s in November by fast-track managers. leading magazine

BusinessWeek, ESADE The programme, which focuses on the comprehensi- is the world’s fourth ve intellectual, emotional and experiential develo- business school pment of future bank executives, uses a modular in terms of best format and is run in different places around the world. It features cutting-edge learning techniques, Custom Programs outstanding teaching staff and a state-of-the-art for companies. The customised e-learning platform. list only features the best twenty schools worldwide.

With the publication of these versities Forum which we run results, ESADE is now in the top each year in Madrid is already 10 of the world’s three main a benchmark for the sector and custom programme rankings: enables us to upgrade our offer Financial Times, BusinessWeek based on the sector’s needs and América Economía. and interests,” says Hugas. El Solaruco Corporate Training Centre in Grupo Banco Santander’s ESADE Executive Educa tion Di- Financial City at Boadilla del Monte (Madrid) rector Jaume Hugas (Lic&MBA 94), says that “our meticulo- ESADE trained a group usly personalised service” for of its lecturers in the Students are chosen through an exhaustive companies explains the good US to consolidate these selection process carried out in Europe, results achieved in the ranking. services in its portfolio the Americas and Asia to form a global, diverse “Our courses are based solely and highly competitive group. on the data and cases of the company concerned which ESADE customer companies Students are chosen through an the lecturers have worked include BBVA, Pricewater house, in beforehand,” he explains. Santander, Telefónica and exhaustive selection process “25% of classes are given by Unión Fenosa. the firm’s own executives” and Finally Hugas underlined what All of them already have world-class educatio- human resources managers are ESADE can provide in terms nal qualifications and a professional profile that present in the classroom “to of strategy and leadership are both a challenge and a great satisfaction for identity the talent in their own training: “Our Leaders hip Deve- ESADE’s lecturers, who are teaching extremely workers.” Moreover, ESADE lopment Programs are geared dynamic sessions based around action learning. also trained a group of its lectu- towards enhancing manage- rers in the US in order to con- ment competencies through solidate the position of these action learning”. services in its portfolio. Another factor behind the excellent results is ESADE’s commitment to “close relations” with the main Spanish multina- tionals’ corporate universities. 70 “The Annual Corporate Uni-

070-071 Actualizacion execeduc_ING.indd 70 8/1/10 15:05:32 UPDATE EXECUTIVE EDUCATION

Advanced Management New programmes Program kicks off at ESADE coming up

Executive Education at ESADE has launched its Advanced Corporate Finance Management Program (AMP), a unique international course Barcelona: from 9 February to 23 March 2010 for senior managers which, based on collective experience, creativity and self-diagnosis, seeks to attain the best results Program for Leadership with the most competitive teams. Development – PLD® ESADE-ICADE Madrid: from 10 February to 2 July 2010

Program for Management Development – PMD® Barcelona: from 16 February to 16 July 2010

Mastering retailing: selling directly to the public in an innovative way Barcelona: from 22 February to 17 March 2010

Advanced Banking and Stock Exchange Programme Barcelona: from 24 February to 19 May 2010

From November 2009 to April of the world’s foremost experts Executive coaching: consulting and coaching 2010, ESADE is opening its such as Professor Jay Rao (Bab- for change doors to senior managers who son College), a specialist in inno- Barcelona: from 25 February are taking the school’s Ad- vation, Professor Jagdish Parikh to 19 June 2010 vanced Management Program (a global speaker), a leading (AMP), an innovative course for collaborator at Harvard University executives who want to success- and an expert in personal devel- fully tackle constantly changing opment and self-knowledge, and For more contemporary situations. AMP Professor Schon Beechler (Duke information is run on the ESADE cam- University), one of the primary puses in Madrid and Barcelona academic authorities on senior In Barcelona simultaneously and includes a management programmes. Executive Education joint international week for all Tel. +34 932 804 008 programme students at one of AMP includes an international [email protected] the world’s leading schools, week in conjunction with one Wharton in Pennsylvania. of the world’s leading schools, In Madrid AMP is designed to foster and Wharton in Pennsylvania Executive Education achieve the highest levels of Tel. +34 913 597 714 competitiveness through an [email protected] innovative methodology which The Advanced Management includes a personal development Program also features an www.exed.esade.edu programme devised by one of exclusive meeting point for the “fathers” of emotional intel- exchanging experiences, the ligence, Richard Boyatzis. CEO Forum, made up of today’s A strategic simulator and an in- foremost business leaders. novative behaviour simulator are This global knowledge forum also key factors in ensuring full is a key additional feature for use is made of the programme students as it enables them to which features, in addition to constantly update their mana- ESADE faculty lecturers, some gerial strategies. 71

070-071 Actualizacion execeduc_ING.indd 71 8/1/10 15:05:38 UPDATE MBA ESADE-BDO Awards, Innovation Speed Dating and the Elevator Pitch Contest Entrepreneurial DNA

AT ESADE, THE TERM ENTREPRENEURSHIP TRANSCENDS ITS VALUE AS A SUBJECT AND BECOMES A WAY OF DOING THINGS, A PHILOSOPHY WHICH INFUSES ALL ESADE’S DAILY ACTIVITIES. THE ESADE-BDO COMPANY CREATION AWARDS, INNOVATION SPEED DATING AND THE ELEVATOR PITCH CONTEST PRESENTED BELOW ARE CLEAR EXAMPLES OF THE SPECIAL ENTREPRENEURIAL CHARACTER WHICH HAS BEEN IN THE SCHOOL’S DNA SINCE IT WAS FOUNDED.

SADE was founded in 1958 to train entrepreneurs, people able to E create innovative business realities. ESADE’s business culture facilitates and nurtures creativity and fosters an atmosphere of knowledge exchange which drives innovation.

ESADE-BDO Company Creation Award On 27 October the ESADE-BDO Company Creation Award was presented. It is for students on ESADE’s Part Time MBA who Eugenia Bieto (Lic&MBA 73), ESADE Corporate Deputy Director have developed their projects as part of the Entrepreneurship General, during the prize-giving ceremony programme, a compulsory module on the MBA. Over the course of this module, students map out a busi- means that theoretical concepts can be given practical ap- ness plan using what they have learned on the MBA. This plication in creating these business plans. The four best projects become finalists for the BDO award, with the What the winners think winner getting a cash prize plus six month’s free basic ad- vice from BDO and a place in the ESADE Creapolis business “By definition business opportunities appear incubator, something which is extremely useful in in a confusing way with lots of difficulties. the company start-up phase. That means being an entrepreneur is a challenge. The ESADE MBA gives you The winner of this edition, SKYBOOKS, is part of the boom in knowledge and methodology and through eBooks which have completely redefined the traditional value the case studies you learn to understand and chain for books. Skybooks is an Internet portal for digitization act on the key factors in competitiveness in and sale of electronic books. Its value proposition for publish- almost any industry. The dynamics of working ers includes digitization and format management together in a group combined with the Leadership with running a sales channel that is in tune with the new and Entrepreneurship modules guide your e-commerce environment. understanding of human nature: your own, to Skybooks also has a virtual store for readers featuring its realise your strengths and weaknesses, and entire offering and sorted using a recommendation system that of others to connect with the talent of that provides book buyers with valuable suggestions. the people you depend on. Finally, the alumni network offers you a valuable network of contacts from which you can start to work Raúl Pérez towards your goals.” Part Time MBA ’09 CEO at Skybooks

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072-073 Actualizacion mba_ING.indd 72 8/1/10 15:04:05 UPDATE MBA ESADE-BDO Awards, Innovation Speed Dating and the Elevator Pitch Contest Innovation Speed Dating

When you bring together the finest talent and the best technological projects in the same place, you’re likely to get some extremely beneficial relationships. So on 30 and the Polytechnic University of Catalonia were October the ESADE Institute of Entrepreneurship ran Innova- put in touch with ESADE MBA students. This meant tion Speed Dating, an event which underlined the entre- that the two basic aspects in driving new companies were preneurial side to ESADE and its involvement in innovative brought together: technological innovation in projects and projects. Using the innovative speed dating format, projects the business management and leadership skills of MBA being put in place by organisations such as the AUB students. Speed dating between project promoters and Research Park, ESADE Creapolis, CETEMMSA, Hangar interested students makes it possible to deploy the “seductive” gifts required to forge lasting and successful business relationships.

Elevator Pitch Contest from the AUB who King met at the ESADE Innovation Speed Dating event held a few weeks beforehand, and which was designed to bring together innovative projects on the one hand and management and marketing ability on the other.

A dynamic community

“The ESADE MBA provides a unique ecosystem with valuable contacts for an entrepreneur. The Entrepreneurship Club has enabled me to share interests with students on the Full Time MBA, thus opening up new opportunities and getting even more international contacts. The Elevator Pitch Contest shows how the ESADE student community can Organised by the MBA Students Association Entrepre- innovate and generate new projects.” neurship Club, the Elevator Pitch Contest puts the ability Carles Costa of its contestants to sell a business idea to the test. Part Time MBA 2011 The ten finalists, chosen from the 26 entries for the competition, had 3 minutes to convince the panel of judges made up of ESADE lecturers, entrepreneurs and potential investors that they had a viable business idea. The contest was attended by some 200 people, and at the end of the event the Hard Rock Café sponsored a cocktail party which enabled current MBA students to mix with entrepreneurs and investors and thus expand their range of contacts. The winner was Eric King, an American on the Full Time MBA who showed his ability to present an extremely complex project, in this case for tagging human egg cells during IVF treatment to reduce baby mix-ups, in such a short period of time. The project is based on technology developed by Dr. Carme Nogués 73

072-073 Actualizacion mba_ING.indd 73 8/1/10 15:04:19 UPDate execuTive language cenTer Spanish combined courses: the best of both worlds!

TheSe courSeS Tap inTo Two very differenT yeT complemenTary wayS of learning a language: in The morning, you Share experienceS wiTh a group of STudenTS whoSe goalS are Similar buT whoSe inTereSTS, culTureS, languageS and worldviewS are very diverSe; in The afTernoon, you work wiTh a TuTor aT your own pace, uSing your learning STyle, your goalS and your perSonal needS aS an educaTional “road map”.

Director spanish Department eSade-elc: av. esplugues, 92-96 – 900 180 358 [email protected]

Delia Castro www.esade.edu/spanish

wo worlds in one! There is luable guidance of the teacher. and those of your classmates. the social world – the one learning and reflecting. if you knowledge, know-how, knowing T that teaches us to share, know your best learning method, how to handle yourself, and to listen, to negotiate and to the activities that help you, and knowing how to learn. doesn’t it understand, and which opens the resources that work most sound fascinating? the doors to vast geographical effectively, the journey will be eSade alumni members are and personal worlds. and easier and more enjoyable. entitled to a special discount. then there is the individual There is great richness in the To learn more about dates, world – the one that takes into combination! your “social self” schedules, prices, etc. visit our account our learning history, our and your “individual self”. your website: www.esade.edu/spanish strengths, our weaknesses, our culture integrated with that of or contact [email protected] - determination and our desire to the language you are learning 900 180 358. grow. Two worlds that provide the ideal context for a single purpose: effective learning. Two cultures, two worlds. your culture of origin and the culture of the language you are learning. new words that evoke visions and interpretations of reality. The code you know, which you use in your everyday like, and the new code, which teaches you to see things differently and question assumptions. Two components: theory and practice, knowledge and skills, knowing and know-how. knowledge of rules is not enough to speak or write; these skills are acquired through prac- tice in communication situations 74 with classmates, under the inva-

074 Actualizacion Langua_ING.indd 74 8/1/10 15:01:32 075 Anu Sono_CAST.indd 1 7/1/10 10:04:00 ANALYSIS

Sailing into the wind The day after the crisis

MEASURES TAKEN BY THE COUNTRIES THAT HAVE ALREADY COME OUT OF THE CRISIS WILL HELP US TO GET READY FOR “THE DAY AFTER” IN SPAIN.

[email protected] Emeritus Professor of the Department of Financial Management and Control. Professor of International Banking and Finance at Ramon Llull University and former Dean of ESADE Business School. He is a member of the European Finance Association and the

ROBERT TORNABELL author of numerous books on the financial sector.

ll of the countries that everyone and meeting it takes If you want to sail into the wind have already come a number of quarters, even you have to take in your sails. A through the crisis have when there is sustained growth That’s what executives at Span- undergone three waves: the in Gross Domestic Product ish companies are doing; sailing international financial crisis, (GDP). Unlike in other crises, knowing their goals, but at times the fall of the real economy and recovery does not mean creat- it seems they are moving away the third, which they have yet to ing new jobs for those who are from their objective because overcome, which is the difficulty looking for work for the first the winds are against them. Yet of creating new jobs, since time and for those who were many companies with a good even in Germany more than 4 made redundant by the worst skipper and a great crew are million jobs were destroyed. It crisis in the last eighty years. finding new ways of getting into is the toughest challenge for That takes time. new markets where previously

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076-080 Analisis_iING.indd 76 8/1/10 15:00:49 ANALYSIS The day after the crisis it did not seem as if there were the banks need to build up their FIGURE 1 any opportunities. And in the capital and prefer not to lend so VIRTUOUS CIRCLE new economy what matters are as not to add to their portfolio no longer sectors but rather com- of risky assets. From the second Fiscal and panies. Some remain leaders half of 2007 to May 2009, it was monetary policies succeed in in their fields. Others conquer more profitable for the banks to stimulating consumer unsuspected markets thanks to take money from the European spending and investment innovations, product redesign or Central Bank at one percent the revitalisation of those which and place it in the same bank at

had seemed marginal. A busi- three percent. They made a lot Improved banking Domestic nessperson recently commented of money, but they bankrupted solvency and liquidity demand, GDP and makes it possible to net export to me: “I have to take decisions, companies which did not have increase credit for a contribution larger GDP recover because if we are indecisive enough working capital. The big we’ll lose the best members of firms could not borrow so they our management team and oth- issued bonds. And so we have ers will make the most of the op- seen, in Spain and in the whole portunities around to buy other Euro area, how the interbank companies and diversify their market froze and the corporate The banks improve their operations.” And that’s what bond market grew. Most of the capitalisation. The The improvement increase in profits in the real economy they did, getting ready for the companies listed on the Ibex 35 enables loans to (positive growth) SMEs, individuals reduces delinquency next “day after”. As Goethe put have paid for their new invest- and large and toxic assets for banks it, “Doubt destroys; only he who ments with retained profits and companies takes decisions moves forward.” bonds issued at six percent. The International Monetary Fund Source: Robert Tornabell, El día después de la crisis, has drawn up a list of the last UPS AND DOWNS Editorial Ariel, Barcelona, January 2010. 110 world crises, and all of them Spain needs to break out of have some features in common. one of the worst vicious circles When the economy recovers, around. Companies are not get- public debt reaches unsus- ting the financing they need and pected limits and bank credit is so they delay their investment restricted even more, because projects. Meanwhile exporters

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have to compete with rivals from is restricted. When a country even greater extent, Singapore, other countries who give credit needs to take a qualitative leap India and China. The immediate to buyers. And given that in this and make international progress, question is: so how is Spain do- new economy only those who there is one sure-fire way of ing at the moment? give credit can export, domestic doing this quickly. All you have Spain does not even appear in demand – consumption plus to do is to attract major interna- diagram 2, although we know investment – is not reinforced tional research centres which by net exports, which would help are prepared to invest in new There is a “virtuous circle” to improve GDP as has been industrial processes and whose shown by recovery in Germany. experts will work alongside local which leads to the creation of If turnover does not increase, engineers and scientists. income, reduces the public deficit company profits fall and the State We have to attract the big mul- and favours company financing gets less in taxes, as if sailing tinationals which have research into the wind in a leaking ship. and development laboratories that over recent years some The amount of revenue collected and create the conditions American and European multi- in indirect taxes, VAT and direct required for them to set up their nationals have set up research taxes falls as consumer spending international research centres in centres in Madrid (IT and tel- drops off along with income from Spain. This is the method used ecommunications) and Barcelona work and capital. Lower revenue by France, the UK, Germany, (the Seat-Volkswagen design means a higher public deficit and Sweden, Switzerland and, to an centre). But this is not enough. with that, up to 10% of GDP, the need to issue public debt. The circle closes when the increase in debt has to deal with higher costs, which in turn increase the public deficit and so on and so on. Yet there is a “virtuous circle” The key areas in which leads to the creation of income, reduces the public deficit the new economy and favours company financing. It is summarised in its simplest ESADE Alumni is holding a series of conferences to analyse form in figure 1. Spain may get the new economy beginning on 20 January. The first session, into this “virtuous circle” – what’s about health, will feature Miguel Trías (MBA 89), member called positive feedback – in the of the ESADE Alumni Board and a Director of Cuatrecasas Barcelona; Josep Santacreu (DSIS 86, PMD 89 and GDCS 01), second half of 2010. CEO at DKV; Eduardo Sanchiz, Executive Director of Corporate Development and Finance at Almirall; Gabriel Masfurroll (DH RESEARCH, DEVELOPMENT 78), Chairman and CEO at USP; and Manel Peiró (DSIS 85, ADE AND INNOVATION 92 and PhD 07), Academic Vice-Dean at ESADE and academic We cannot make up for lost time sponsor of the ESADE Alumni Health and Pharma Club. More information at www.esadealumni.net 78 if public spending on innovation

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To summarise, India attracts Una muno said “let them do the FIGURE 2 more research and development inventing”. This was the expres- INTERNATIONAL COMPANIES WHICH HAVE centres than Germany, but the sion of his sarcasm about the RESEARCH CENTRES ABROAD % OF THOSE DOING IT IN OTHER COUNTRIES, SUCH AS THE FOLLOWING proportion is more important way Spaniards like to live the

for China, which viewed the first easy life. The important thing is ITALY Microsoft laboratory to be set up that we invent and innovate. SINGAPORE in Beijing in the 1970s with sus- GERMANY picion and now seeks to attract BY WAY OF CONCLUSION CANADA the world’s finest talent so that In the V-shaped Spanish INDIA JAPAN they will work with home-grown recession from 1993 to 1995, FRANCE scientists. China has managed Catalonia dragged the rest of CHINA to pull in 750 foreign-owned high Spain along thanks to its ability GREAT BRITAIN technology laboratories, and to export, which was enhanced UNITED STATES

India and Singapore are trying to by the devaluation of the peseta. 0 10 20 30 40 50 60 70 do the same. Today with the euro the only Source: UNCTAD, study of the countries which spend most option is to improve productiv- on R&D in research centres in other countries DEBT ADDICTS ity and stake a claim to posi- HAVE DISCOVERED tions in world trade. The unions YOU LIVE BETTER WITH have shown that they are even MORE CAPITAL prepared to give up salary levels come to naught unless there is Banks, companies and of course in order to maintain jobs. The a genuine National Agreement, the Spanish government have bulk of businesspeople have something which the Cercle found out that without debt you reconverted their companies and d’Economia has repeatedly live better. This is another facet they are now international. More called for. Other countries have of the new economy and will than three quarters of the profits done it, especially Germany, dominate emergence from the made by companies on the Ibex among other reasons because crisis in Spain. On 1 January 35 come from abroad. But all workers have joined boards smokers renew their resolu- of this is not enough and may of directors. tions to give up the weed. Those who manage to do so lengthen their lives. According to Catalan scientist Dr. Massagué, those who don’t may have resistant genes, but in the long term many get cancer. Bibliography It’s the same with debt. Banks and companies are replacing El día después de la crisis, toxic debt by healthy living. That Robert Tornabell. is to say, they are increasing the Editorial Ariel, 2009. proportion of capital, which is Forthcoming presentations at the ESADE the oxygen that those who give campuses in Barcelona and Madrid (20 January and 2 February 2010) up smoking say they get back. and in the El Faro de Vigo Club in Vigo It is not the only addiction and (8 February 2010). nor is it true that Miguel de

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1975 1983 ING Group after 12 years in 1989 which he had held posts Jaume Grane, Xavier Argenté, including Administrative Manager, Miquel Salazar, Managing Director new CEO at Gallina Chief Operations Officer, Human new CEO at the at Groupe Pierre Blanca Star Resources Director and Financial Institut Català Le Goff Hygiène Director of ING Lease, to de Finances Jaume Grane Victori (Lic&MBA concentrate on MASTER WORK, 75) has been appointed CEO of E.T.T., S.A., of which he is a the Pierre Le Goff Hygiène Group, partner founder, and became its the French leader in personal Financial Director and head of hygiene product distribution and the company’s expansion in part of the BUNZL Plc group. Girona province. Ortiz now Pierre Le Goff has a turnover combines his roles in both of e350 million and covers the Food company Gallina Blanca companies. whole of France. Star has appointed Xavier Argenté (MBA 83) as its new CEO. Argenté has extensive 1984 1978 experience in companies in the sector, as he was CEO of Agroalimen appoints Victor Canivell, Caprabo until 2004 and prior to Joan Cornudella as The Catalan Government has Vice-President of the that Chairman and CEO of Bimbo its CEO appointed its former Financial International Division until 2000. Argenté has also Policy Director Miquel Salazar at Esabe Informática worked in the financial sector as (FGAP 89) as the new CEO Distribuida S.L. head of BBVA’s branch network at the Institut Català de and as a member of the bank’s Finances (ICF), a public body steering committee in 2005. through which the Catalan Gallina Blanca Star is Government gives loans to headquartered in Barcelona and companies and administrations. is owned by Agrolimen and Salazar rejoins the Catalan Italian firm Findim with the two Government after leaving firms having equal stakes. Its the departmental secretariat turnover comes to e708 million Joan Cornudella Marqués (MBA in April 2009. Previously and its brands include Gallina 84), until now CEO at Panrico, he had been a director at Victor Canivell (MBA 78) has Blanca, Star, Avecrem, has been named the new CEO in Caixa Catalunya and held a joined Esabe Informática Grand’Italia and Jumbo, which charge of subsidiary and investee number of posts on Barcelona Distribuida S.L. as Vice-President are sold worldwide. Its main company management and Provincial Council. Salazar has of its new International Division. markets are Spain, Italy, Holland, expansion at mass consumer combined his professional Its Backup-as-a-Service “byte- Russia and Africa. products firm Agroalimen. career with teaching on Public pass” services lead the national Agroalimen had a turnover of Administration postgraduate continuous copying market with Frederic Ortiz, e1,778 billion 2008. Cornudella programmes at Barcelona an annual growth rate of 40%. partner director at began his career in 1985 at University and the Autonomous Canivell brings his extensive Ortiz-Puigjaner Gallina Blanca. In 1988 he joined University of Barcelona. international experience in ICT Consultors, S.L. Pepsico, where he was Vice- multinationals (HP, SGI, 3Com/ President for marketing, sales HP, SSA Global/Infor) and his and new businesses. In 1998 he recent leading role in start-ups in moved to Panrico as Sales the security (Safelayer, Wisekey Director. Subsequently he started ELA) and SaaS (Aspective/ up electronic components firm Vodafo­ne) sectors. Canivell is Detersa before returning to also chairman of the board at Panrico as CEO in 2005. ERA Biotech S.L. and a director of Integromics S.L., both of them Frederic Ortiz Formentin (EDIEF being innovative biotech 83) has become partner director companies. specialising in financial consultancy and strategic planning at Ortiz-Puigjaner Consultors, S.L, a firm he founded in 2008 to deliver comprehensive consultancy services. In 2004 Ortiz left the 81

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Miguel Trías, 1990 1991 held a number of posts at the head of company: medical coordinator, Cuatrecasas’s Jordi Gavaldà, Román Calbetó founds assistant manager and medical Barcelona office new Deputy Director Gente con Enchufe director of La Zarzuela Hospital, at Antares Operations Director at the Jordi Millennium Medical Centre and the Women’s Health Centre, and Managing Director of the ICE Hospital. Before taking up his new post he was Managing Director of La Moraleja Hospital, the Costa Rica Millennium Medical Centre and the Nicasio Gallego Millennium The Board at Cuatrecasas, Gente con Enchufe has been Medical Centre. Gonçalves Pereira has approved founded by Román Calbetó the appointment of Francisco Ferrer (EDIK 91), who decided Pérez-Crespo and Miguel Trías Gavaldà (Lic&MBA 90) has to call time on more than 20 1995 (MBA 89) as heads of its joined Antares Producción y years spent in marketing offices in Madrid and Barcelona, Distribución, S.L. as the firm’s departments at various Imma Folch, respectively. The appointments new Deputy Director in order to international companies to start appointed Director include extensive delegated expand its business areas. The up a business in the sustainable of EMEA Marketing management powers in their company has decided to create mobility sector. Gente con at the Worldcom geographical areas. In his new the new post to coordinate its Enchufe is a store that PR Group post Trías will be in charge of departments and resources. exclusively sells, hires and fostering and coordinating the Over recent years Gavaldà has repairs electrical mopeds and firm’s operations and held organisational posts at bikes. The firm is also supervising the professional Mutua Universal and office developing another line of aspects and actions of its law furniture manufacturer JG Group. business with the creation of units. Trías is Director of the In his new job at Antares, he will Gente con Enchufe-brand Private Law Department and support the company’s electrical mopeds and bikes. Director of the Corporate expansion strategy and extend Finance programme at ESADE as its commercial horizons as well well as a Professor of as drive process enhancement. 1994 Commercial Law at ESADE-URL. His appointment marks the start He was Dean of the Law Faculty of a new era at Antares which is Luis Delgado Cabezas, at ESADE from 1997 to 2001. to see the firm consolidate its new Medical Executive He specialises in corporate role in ICT-based market Director at Sanitas Imma Folch (EDIK 95), CEO of governance and company opportunities and strengthen of marketing and communication mergers and acquisitions, and is its position as a creator of agency LF Channel, has been secretary of the boards of a training content. appointed Marketing Director for number of companies and the EMEA region at public author of several books on relations group Worldcom, the company law, corporate world’s biggest network of governance and corporate independent public relations finance. agencies. Folch will be in charge of directing communication and Dr. Luis Delgado Cabezas publicity for the network’s actions (Gestión Áreas y Servicios at the regional level. Hospitalarios 94) has been Folch is head of the LF Channel appointed new Medical Executive agency which has specialised Director at Sanitas. In his new in the IT sector since it was post in the company’s corporate founded in 1996. governance structure he will provide Sanitas’s executive committee with a doctor’s perspective. He joined Sanitas as manager of the surgery unit at La Zarzuela 82 Hospital and since then has

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1996 and Madrid, and researches into 1997 Fajula began his professional the social role that brands have career at Danone as head of David Lapuerta, new or could have. Romero is a Bird & Bird Industrial Management Planning Sales and Marketing partner founder of APG in Spain makes José María and Control for Southern Director at Alimentaria and member of its board, and a Cusí a partner Europe. In 1999 he joined Terra Exhibitions jury member for the Eficacia Bird & Bird has made the head Networks, a subsidiary of the Awards 2009. of its tax unit, José María Cusí Telefónica Group, as Director of (AGT97), and two lawyers from E-Commerce in Spain. In 2001 David Sempere, Sweden and Finland into equity he was appointed Vice-President Managing Director partners. These appointments for Strategic Planning for the at SECOT give the firm a total of 215 whole of Terra Group Networks. David Sempere (EDIK 96 partners worldwide with ten in Finally, in 2004 he joined the and DSIS 07) has joined the Spain. Banesto Foundation as Director Spanish Orthopaedic Surgery Cusí worked for six years at of the Banespyme School. He and Traumatology Association Clifford Chance as head of the has also taught at business (SECOT) as its Managing tax unit in Barcelona and prior schools including ESADE and the David Lapuerta (EDIK 96) has Director. Over the last 7 years to that for almost seven years Instituto de Empresa. been appointed Marketing and Sempere has been Managing at Cuatrecasas in Barcelona Sales Director at Alimentaria Director at the Spanish Family and New York. He has extensive Exhibitions, a newly created and Community Medicine experience in tax advice both in 1998 strategic unit which includes the Association (SEMFYC). Spain and abroad and is also the departments of Domestic Sales, author of a book and numerous José Miguel Foreign Sales and Events and Santiago Tiana, articles, a conference speaker, Valenzuela, Corporate Sponsorship. Lapuerta has built Director of Banco a member of a number of tax Finance Director at up extensive experience in the Sabadell in Casablanca and business associations and Grupo MRW fairs sector since 1999 and Professor of International Tax joined Alimentaria Exhibitions in Law at ESADE for the last five 2001. Prior to his current years. appointment he was assistant manager at Alimentaria and Francesc Fajula, Director of the Barcelona manager of Degusta Show since it was first Banesto’s held in 2005. foundations

Gem Romero, José Miguel Valenzuela Jiménez CEO at Tapsa Santiago Tiana (Dir. Estratégica (MBA 98 and Corporate de Marketing 96) has been Finance 04) has been appointed Director of Banco appointed Corporate Finance Sabadell in Casablanca, where Director at Grupo MRW. His he will be in charge of continuing main mission is to the bank’s international professionalise the area and expansion. He has a long track play an active role in the record and extensive experience process of internationalisation in international trade and has via acquisitions. MRW is Spain’s spent part of his professional leading express delivery firm career at the Banco Sabadell The Boards of Trustees of the with more than 600 franchises Gem Romero (Lic&MBA 96), Group as Director of New Banesto Cultural Foundation around the country. Its until now Director of the Markets, Director of Operations and the Banesto Society and worldwide turnover is more than Strategic Planning Department at Banco Sabadell Andorra, Technology Foundation have e700 million and involves at Tapsa, has been promoted to Director of Financial and appointed Francesc Fajula de 14,000 people. MRW is also a become CEO, a newly created International Operations, Quintana (MBA 97) as the new key player in community projects post in the company. Romero Director of Banco Sabadell in manager of the organisations. In and has twice been chosen as joined Tansa as Director of its Lisbon and Director of Foreign his new post, Fajula will be in one of the best 25 companies Strategic Planning Department Trade. charge of reinforcing the to work for. in August 2007, a department position of the Banesto which has now been reinforced Foundations as key institutions as part of general management. in the creation of companies, The new CEO is also a lecturer innovation, new technology and at various universities and fostering the entrepreneurial business schools in Barcelona culture in Spain. 83

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1999 Secretary General of ESADE 2003 best business schools and is one Alumni, has been appointed as of the few in Colombia to be a Mireia Pérez new Vice-President of the Ignasi Mena, member of the EFMD and the Sales joins the Professional Association of Interconnection AASCB. He comes into the post board at Jazztel Corporate Jurists (APJE). Manager at Ono after gaining his doctorate and (Cableuropa) working as a World Bank consultant, specialising in the 2001 strategic application of technology for a number of Latin Román de Vicente, American governments in new Director of controlling terrorism financing the Books Division and in education issues, before at Grupo Zeta becoming Senior Management Grupo Zeta’s Ignasi Mena (MBA 03) has been Director at Rosario University in The company has revamped its Board has made head of the telecom Bogotá, Colombia. Board to include four new appointed company’s interconnection and independent directors. In Román de hiring of services to other addition to her new role at Vicente (MBA operators. His duties include 2006 Jazztel, Mireia Pérez Sales 01) as the new commercial relations between (MBA 99) is also Deputy CEO at Director of its Ono and other domestic and Ferran Raurich, Banesto and head of Strategy, Books Division. De Vicente foreign telecommunications new Senior Finance and Corporate joined Grupo Zeta in 1997 in operators in voice and data Vice-President for Development in the bank’s real Press Planning and Control. traffic exchanges and the hire/ Human Resources estate arm. Later on he was assistant to the purchase of services and in the Supply Chain group’s CEO and since 2001 invoicing. Mena has 14 years of at Schneider Electric Albert Zamora, has held various posts as experience in the telecoms Business Controller director of divisions such as sector in technical and at Almirall, S.A. Press and Printing Plants. Grupo management posts in a number Albert Zamora (MBA 99) has Zeta’s Books Division includes of companies. In the first stage joined Almirall, S.A. as its Ediciones B, Vergara, Zeta of his career he was in charge of Business Controller, reporting to Bolsillo and Bruguera. designing mobile phone the Head of R&D Finance. Based networks, investment planning, at Almirall’s R&D Centre in Sant and managing network Feliu de Llobregat in Barcelona 2002 deployment and optimisation province, his main duties are projects with responsibility for Ferran Raurich (SEP 06) has the economic assessment and Lluís Pons, various suppliers. Since 2002, been appointed Senior Vice- prioritization of projects, drawing new Marketing Mena has been working in Ono’s President (SVP) for Human up and managing their costs, Director at Vueling Operators and Interconnection Resources in the Supply Chain at drawing up financial reporting business unit (previously called Schneider Electric. This newly and the enhancement of current Auna) which handles commercial created post brings together the processes. relations between Ono and other entire group’s human resources telecommunications operators. functions in its industrial and logistics organisation. Raurich, 2000 who is to coordinate human 2005 resources for more than 205 Antonio Delgado, plants and central functions and new Vice-President Diego Cardona, Dean around 65,000 employees, is to of the APJE The new Marketing Director at of the Business report directly to the company’s Vueling joined the firm as head School at Norte World Executive Committee and of relational marketing before University (Barranquilla, will be based in Shanghai. being put in charge of customer Colombia) Previously Raurich had been care. After the merger with Diego Cardona Schneider Electric’s Human Clickair, Lluís Pons (MBA 02) Madariaga (PhD Resources Director for the Iberian became head of the company’s 05) has become Area since 2006. online marketing. Dean at the Business School Antonio Delgado (Lic&MD 00), at Norte Director of the Legal Department University in at the Barcelona Hospital Barranquilla, Colombia, which is 84 Clínico Foundation and on the América Economía list of

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2007 Joan Manel Albacete, Juan Antonio (PMD 09) has joined the Manager at CENTA Mesonero, Marketing Pasqual Maragall Alzheimer Ignacio García-Pelayo and Technical Services Foundation where he will be the Díez, Director of Director at Laboratorios Economics and Finance Director. Logistics Centres Ovejero, S.A. Headed by Dr. Jordi Camí, at Grupo Toquero Laboratorios instigator and director of the Ovejero, S.A., Barcelona Biomedical Research the 60-year-old Park, the Pasqual Maragall Spanish animal Foundation supports health international scientific research The New Technology and Food pharmaceutical into the prevention and cure of Processes Centre (CENTA) has firm, has Alzheimer’s disease and related appointed Joan Manel Albacete appointed Juan Antonio neurodegenerative diseases. Sancho (SEF 08) as its Mesonero Escuredo (PMD 08) Manager. Previously Albacete to be its Marketing and Kurt Burneo Farfán, had held the posts of Expansion Customer Technical Services Director of Economics Ignacio García-Pelayo Díez Director at Frade Gobeo Direcció Director as part of its corporate Degree Programmes at (SEP 07) has recently been General d’Empreses, partner development programme. In his San Ignacio de Loyola appointed Director of Logistics director at eBech and head of new role Mesonero Escuredo University Centres at Grupo Toquero, the management for the Simon will be in charge of supervising Kurt Burneo leading automobile logistics firm Lighting pilot plant and technical Product Managers, the Farfán in Spain, in charge of seven centre at Trety (Grupo Trèves). Diagnosis Laboratory, customer (Prog. centres in the Iberian Peninsula. support and sales and reports Doct. ADE García-Pelayo has built up 22 José Rui Matos to sales management. ESAN09) years of professional experience founds Carspirit has been in the sector at firms such as Carlos Taurel Benitah, named Rover España, Nedlloyd Group, Risk Management director of CAT España and Grupo Toquero, Transformation and Economics Degree Programmes where he held a number of Innovation Director at at San Ignacio de Loyola management posts in his Bankpime University in Lima, Peru. Dr. previous stint with the company Carlos Taurel Benitah (MBA 08) Kurt Johnny Burneo Farfán is a from 1989 to 2002. has taken over as Transformation lecturer at the Pontifical and Innovation Manager in the Catholic University of Peru and José Rui Matos (MBA 08) has Risk Management Division at San Martín de Porres 2008 founded Carspirit, a new Bankpime. In his new role Taurel University. Previously he was automobile assistance firm in will lead the transformation of chairman of the Banco de la Luis Mercé Póvoa de Varzim, Oporto, that processes, mechanisms and Nación in July 2005, director of publishes his book delivers flat rate maintenance tools together with management the Peruvian Central Reserve ‘Células madre’ services. The joint founder and and operations development Bank and Deputy Minister of Doctor Luis T. head of finance, sales and and innovation in the firm’s risks the Treasury in the Peruvian Mercé (Dir. marketing at the new company division. Ministry of Economics and Estratégica de has wide-ranging professional Finance, as well as an adviser Sociedades experience as a manager in to the Chairman’s Office at Científicas 08) sales and marketing 2009 Grupo Sibarita y Pomalca. has published departments in the wine sector his book in Portugal, in marketing for HP Iván Borrego Valverde, Células madre Barcelona and as a general Economics and Finance which uses a question and manager in the construction Director at the Pasqual answer format to look at stem industry in Australia. Maragall Foundation cells, their medical uses, After six years at transplant techniques, the Farmaprojects, uniqueness of umbilical cord S.A., as Business blood and how stem cells are & Strategy stored and transplanted. Manager, Iván Borrego Valverde

We want to hear about your career moves. Send your appointment and photo to ESADE Alumni at: 86 [email protected]

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General Prizes

First prize • Arnau Sallent Garriga (Lic&MBA85) and Eugeni Sallent Garriga Second prize • Luis Dalmau Juanola (MBA89) and Ramon Forn Argimon (MBA83) Third prize • Miquel Ginesta Manresa (Lic&MBA89) and Juan Carlos Cabrera Burriel General scratch • Xavier Esteve Garcia (MBA95) and Francesc Casabella Formatjé (Lic&MBA92) Presentation of Special prizes

ESADE Alumni-NACEX Golf GOLF D’ARO - 3 OCTOBER 2009

Championship prizes Ball closest to the pin • Hole 3, Bulldog Prize: José Bleda On 15 December ESADE Alumni presented well-deserved prizes to the (MBA90) winners of the ESADE Alumni-NACEX Golf Championship. • Hole 5, Nespresso Prize: Josep Pujol The ceremony rounded off ESADE Alumni’s recreational activities for (Lic&MBA72) 2009 and was followed by a cocktail party for attendees. The event • Hole 11, Thai Airways Prize: Xavier was also attended by Xavier Sanchez (Lic&MBA97), ESADE Alumni Pérez (Lic&MBA98), Elena Cusí Director, who underlined the importance of the Sport and Culture Pro- (Lic&MBA98) gramme for networking between the school’s alumni. Longest drive • Hole 8: O2 Centro Wellness Pedralbes prize Eric Lorente (Lic&MBA04)

Birdie Prizes • Hole 13, About Sport Prize: Xavier Pérez (Lic&MBA98), David Gonzalvo (Lic&MBA00) • Hole 17, Vins Noe Prize: Juan Manuel Ymbern (MBA94)

GOLF TORREMIRONA - 31 OCTOBER 2009

Ball closest to the pin • Hole 2, Bulldog Prize: Xavier Pérez (Lic&MBA98) • Hole 10, Thai Airways Prize: Juan M. Ymbern (MBA94), David Gonzalvo (Lic&MBA00), Javier Hernández (Lic&MBA86)

Birdie Prizes • Hole 13, About Sport Prize: Xavier Pérez (Lic&MBA98), Elena Cusí (Lic&MBA98), Eric Lorente (Lic&MBA04) • Hole 17, Vins Noe Prize: Manuel Orti (MBA97), Xavier Pérez (Lic&MBA98), Lluís Dalmau (MBA89), Xavier Queralt (MBA84), Eric Lorente (Lic&MBA04), Miguel Cabello (CEI92) and Enric Castillo (EDIC75). 87

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Blind cava tasting

On 25 November 40 alumni The conclusion reached was enjoyed this hour and a half that Catalan cava is of the same long session forming part of the quality as champagne as attend- Alumni Recreation and Culture ees were unable to distinguish Programme. between them. Attendees were able to try The session was made pos- DO (denomination of origin) sible by the support of winery cavas and learnt how to rec- Raventós i Blanc. The firm sup- ognise the expression of each plied the cava and also the time variety’s special character using and skill of one of their foremost tasting guidelines to rate the wine experts which was a key cavas and also to differentiate factor in the high rating given to between them. the evening by attendees.

ESADE Alumni-NACEX wine events The various denominations of origin of wines of Catalonia

The quality and exquisiteness López (EDIK 89). Next up on of the various denominations of 16 December were the DOs origin for wine in Catalonia are Priora­to and Montseny, which the main reasons behind their were explained to us by the Empordà growing popularity. In response owners of the Buil y Giné winery, to numerous requests from Xavier Buil and Anna Cuadrat our members, ESADE Alumni (Lic&MBA99). Pla has launched a series of wine de Bages events which we hope you OTHER DOS Alella Costers will enjoy. The other DOs will have their own del Segre They consist of a number of ses- sessions which we will announce Conca del Penedès sions guided by wine on ESADE Alumni’s website and Barberà experts at wineries run by some in our newsletter. Prioritat of our alumni. The activities are run at IDEALOFT, Tarragona Terra Montsant The 1st session of the Wine a unique and exclusive meetings Alta Events was held on 2 December and conventions facility made at Bode­gues Costers del Sió, available by Grup Idea (http:// owned by the Porciones-Buixó www.grupidea.com/v2/ intro.php) family and in the Costers del right in the heart of Barcelona, Segre DO, whose sales manager where attendees can enjoy marvel- OTHER ACTIVITIES SCHEDULED FOR FORTHCOMING is our colleague Sol Cristina lous views of the cathedral. MONTHS AS PART OF THE ESADE ALUMNI-NACEX SPORT AND CULTURE PROGRAMME

• Visit to Camp Nou: January De Boer crea su espacio • Nordic Walking: February Gestión integral de Eventos Corporativos y Soluciones Empresariales • Workshop on chocolate (Madrid): February • Visit to the MACBA Museum in Barcelona: March www.deboer.es | [email protected] | Teléfono: (+34) 93 481 52 52 | Fax: (+34) 93 481 52 50 More information at www.esadealumni.net • Guided tour of the Catalan modernist taverns in El Raval: March 88 � Alumni Activities � Sport and Culture

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NACEX-ESADE Alumni Beginners Paddle Tennis Madrid 2009

Last 20 and 21 November the NACEX-ESADE Alumni Beginners Paddle Tennis Madrid 2009 event was held at Golf Park La Moraleja in Madrid. At this second edition of the event, run by ESADE Alumni to encourage alumni to play paddle tennis, the traditional tournament was added to by a new course for beginners. At the end of the tourna- ment and course, all the participants were invited to watch an exhibition match between four paddle tennis professionals. The overall tournament winners were Ignacio Guardo (MBA96) and Juan Miguel González, while the consolation tournament was won by José Luis del Real and Carlos Javier Rodríguez (SEP 09). During the prize-giving ceremony drinks were served and there was a draw for gifts for all the players.

De Boer crea su espacio Gestión integral de Eventos Corporativos y Soluciones Empresariales www.deboer.es | [email protected] | Teléfono: (+34) 93 481 52 52 | Fax: (+34) 93 481 52 50

DBI_75_541619_220x140.indd 1 23-03-2009 15:51:33 087-089 Activ Deportivas_ING.indd 89 8/1/10 14:58:07 IN THE NEWS MY CLASS Class reunions

MBA FT 2003 – 5 September 2009 EMBA 2009 – 18 September 2009

Reunion of all Jo, Directiva classes – 17 September 2009

Lic&MBA 1984 at ESADE CREAPOLIS – 1 October 2009

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Lic&MBA 1981 – 2 October 2009

Lic&MBA 1994– 16 October 2009

1st class dinner DIN FT 2009-2010 – 16 October 2009 SEP 2006. 4th FIT-BIRTHDAY – 23 October 2009

MIM 1989 – 20th Anniversary – 24 October 2009 MBA FT 2007 – 30 October 2009 91

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Lic&MBA 2007 – 6 November 2009

MDOS 2009 – 14 November 2009

MBA PT 2007 – 20 November 2009 92

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EMBA 2007 – 13 November 2009

EMBA 2003 at ESADE Creapolis – 26 November 2009 MDEF 2008 – 27 November 2009

Reunion of EMBA classes in Zaragoza – 28 November 2009

MDMC 2008 – 27 November 2009 MBA PT 2008 – 27 November 2009 93

090-094 Cenas_ING.indd 93 8/1/10 15:12:36 IN THE NEWS MY CLASS

EMBA 2008 – 27 November 2009

AGT 09-10 and DIN 09-10 – 27 November 2009 EMBA 06 Madrid – 10 December 2009

Lic&MBA 1985 – 3 December 2009

MDOS 2007 – 19 December 2009 MDMC 2009 – 19 December 2009

Other class reunions ESADE Alumni can organise reunions that PMD 2009 – 18 September 2009 Visit to Hewlett Packard facilities are customised for your EMBA 2010 – 1 October 2009 in Barcelona EMBA 2009 and EMBA 2010 class: dinners, conferences, Visit to the INSA Technological Innovation Centre at – 23 October 2009 guided professional Aldeatejada SEP MADRID 2005-2009 – 2 October 2009 SEP 2009 – 12 November 2009 networking reunions, leisure and sports activities, PMD (OPEN) 2009 – 2 October 2009 MIM 1992 – 26 November 2009 family outings, etc. SEP and PMD (Madrid) – 8 October 2009 EMBA 07 Madrid – 28 November 2009 For more DEC 2006 with Albert Roura – 14 October 2009 EMBA 2004 – 2 December 2009 information contact: Jo, Directiva Reunion 2007 – 14 October 2009 PMD Galicia 2009 – 3 December 2009 encuentrospromocion@ MDEF 2009 – 16 October 2009 MDEF 2009-2010 – 11 December 2009 alumni.esade.edu

More photos at www.esadealumni.net � Alumni Network � My class 94

090-094 Cenas_ING.indd 94 8/1/10 15:12:52 MEMBERS ONLY ECONOMIC BENEFITS services and benefits exclusively for members New things at NACEX in 2010 DESIGNED TO MEET CONTEMPORARY NEEDS AND GET ITS CUSTOMERS’ PRODUCTS DELIVERED EFFICIENTLY, QUICKLY AND SAFELY.

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095-097 Solo socios_ING.indd 95 11/1/10 09:48:36 MEMBERS ONLY ONLINE SERVICES services and benefits exclusively for members

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96 96

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095-097 Solo socios_ING.indd 97 11/1/10 09:48:46 STORY Friday afternoon

ust like when exams were over and a great sen­ sometimes better than those of the people on the se of liberation swept over playgrounds, clas­ programme, probably affected by the lights, the ca­ J srooms and passageways, and the cries of joy meras and the producer. I go to bed early, restless, reverberating around the high ceilings of the Piarist knowing about the inevitable. School made me shudder. In the same way today, thirty years later, on Friday afternoons when I come Saturday goes by with an uncomfortable concern, out of the office I don’t feel like everyone else. but more bearable than what will take me over on Sunday when, on venturing out into the street, I There’s a curious, heady and by no means less wo­ wonder: “Where are the weary office workers, secre­ rrying weightlessness in the air. You’d say that Bar­ taries, clerks, caretakers, concierges and police offi­ celona is another city: ties loosened or off, defiant; cers? Where are routine and obligation?” Confron­

FERNANDO TRÍAS DE BES carrier bags dangling from the hands of passers-by, ted with my own freedom, I become aware of the (Lic&MBA 90) full of caprices which would have been sinful on freedom of others, I become an easy victim. I feel Degree in Business Science and an MBA any other day of the week; the city infused with the same fear that I had that the fifth form would from ESADE and the University of Michigan. a smell of extravagance which turns people into not line up when Father Pablo blew his whistle; that He is an assistant professor at ESADE, founding partner of Salvetti&Llombart and ephemerally ostentatious, omnipotent and powerful the teacher who suddenly left the classroom, with author of the books Lateral Marketing, beings; there is laughter on the underground and no explanation, would never come back; that my Good Luck, The Time Seller, The Little Black on the buses, even in the street. All of these details classmates would not follow the instructions of the Book of Entrepreneurship and The Man Who Traded His Home for a Tulip, which won of Friday afternoons warn me of the anxious hours teacher, who kept them busy with absurd tasks; the 2009 Temas de Hoy Award. His fiction awaiting me. that Martí would not replace the chalk; in short, includes Absurd Stories, Words under the about everything that stopped them from conside­ Sea, The Sounds Collector and The Story Writes Me. He regularly writes for As ever, I dine alone in front of the TV, after flicking ring me, my vulne­rability and fragility. La Vanguardia and El País Semanal. to one of those discussion programmes that make me feel young when I see that my own ideas are Sunday brings with it that freedom which I hate because I fear. An army of people, afflicted by the most pernicious of the vices entailed by getting up when they want, wanders around the streets with no occupation other than a newspaper, something they polish off with worrying speed. After reading it, they no longer have anything else to think about and that is when the danger begins: they start silently to inspect and judge their fellows. I cannot evade such scrutiny: hundreds of threatening gazes run over my person, as if measuring my strengths, my defen­ sive options, which they perceive to be slight and easy to overcome. There is no doubt that, once the papers have been read, and if this stalking were to be prolonged indefinitely, with some here and some there, with no order or agreement, no course or object in which to deposit their destructive instincts, the world would be plunged into absolute chaos.

And in this way Sunday goes by, tormented, threatened by silence and intention, by the latent cruelty that would be unleashed without a shadow of a doubt if this situation were to be prolonged for longer than it should.

Fortunately, on Monday morning, when once again faced with the vision of the human anthill in opera­ tion, the routine of duty, the automatism that vac­ cinates the underlying desire for destruction which characterises man, I recover my faith in the human condition and I feel safe once more, knowing that my life is not in danger. I will breathe easy. At least 98 until the following Friday.

098 ElRelato_ING.indd 98 8/1/10 15:10:11 099 Anu C4T_CAST.indd 99 7/1/10 10:22:49 100 Anu MErcedes_CAST.indd 100 7/1/10 10:23:06