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IESE ANNUAL REPORT 2015-2016

A WAY TO LEARN

01. From the Dean

02. Personal Growth The MBA Programs Executive Education PhD

03. Innovate Learning Innovations Research Faculty

04. Positive Impact Wherever You Are Social Impact Who Makes It Happen: Our Alumni Our Partner Companies Our Guests Governance Our People FROM THE DEAN

In my first year as dean of IESE I am both excited and diverse environments and to pursue success with a optimistic about the future of the school. That I can look conscientious sense of purpose beyond profit. forward so positively is thanks in great part to the work of my predecessor, Prof. Jordi Canals. During his fifteen The ongoing relevance of IESE’s mission and ethical values years as dean he successfully steered the school through can be seen in the growth of the MBA program, which this periods of geopolitical and economic uncertainty. His year has expanded to include a fifth section. Also can be integrity and spirit of service have created a lasting seen in the success of our Executive Education programs, legacy with a global impact. It is a pleasure and a which have been rated as the best in the world for the privilege to have the opportunity to continue his work. second consecutive year by the Financial Times.

We stand on the cusp of great possibilities. Advances All of this would mean nothing without world-class faculty in technology are creating new paradigms in business, members to research and develop program content, and in social interactions and in education. At IESE, we to support participants throughout the learning process. embrace the challenges and opportunities that these IESE welcomed three new professors to the school in 2015- changes bring. We continue to develop ways to learn 2016. They joined an outstanding faculty, thirteen of whom that prepare our students and alumni to lead us into a received awards during the year for contributions to their future based on responsibility and a spirit of service. respective academic fields. That is why we are actively researching, trialling and introducing innovative methodologies and technologies Every member of the IESE team will be essential to achieving into our programs. the school’s main goal: to serve society. I believe that our future lies in our capacity to be relevant in this crucial task. I believe that the global mindset and commitment to continuous learning we instill at IESE are invaluable in this ever-more-connected world. The school’s network encompasses five permanent campuses in Barcelona, Madrid, Munich, New York and Sao Paulo as well as offices, associated business schools and exchange partners in every part of the world. Our program FRANZ HEUKAMP participants learn to lead in international, culturally IESE Dean

2 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 STRATEGIC PRIORITIES

Barcelona Campus.

IESE is committed to preparing leaders who can make a deep, positive and lasting impact on people, companies and society through their professionalism, integrity and spirit of service. IESE’s strategic priorities are based on this mission.

INTERNATIONALIZING ACTIVITIES IESE’s presence will be increased in North America, Latin Madrid Campus. America and Central Europe. The school will also consider the future relevance of Asia to its business model and develop its activities there accordingly.

MEETING THE CHALLENGES OF LIFELONG LEARNING With globalization, digitization and the lengthening of working lives, lifelong learning has become increasingly important. IESE has a duty to ensure that its programs continue to meet the needs of executives at every stage of their careers.

ADDRESSING THE DIGITIZATION OF LEARNING Munich Campus. The benefits of adding blended learning and other methodologies made possible by technology to in-person learning are increasingly apparent. IESE will continue to develop cutting-edge methodologies in order to provide more effective and efficient learning experiences.

MAKING A DEEP IMPACT IN SOCIETY IESE’s mission to drive positive change and leave a lasting impact on business and society is ongoing. The school will continue to addresses the most relevant challenges through innovative and creative academic activities that focus on people and ethical values. New York Campus.

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 3 2015-2016 HIGHLIGHTS

NEW IESE DEAN EMBA HAS THIRD Prof. Franz Heukamp took over from Prof. Jordi Canals as IESE dean. BRAZILIAN BIRTHDAY Professor Canals served with distinction in the role for 15 years. The The third EMBA Sao Paulo class University of Navarra President, Alfonso Sánchez-Tabernero, presided graduated in 2016. There were 28 over the investiture ceremony. participants.

GLOBAL CELEBRATIONS SPOTLIGHT ON EXCELLENCE DEMAND DRIVES MBA GROWTH FOR MBA 50TH ANNIVERSARY AT GLOBAL ALUMNI REUNION A fifth section was added to the full-time A series of conferences around the world The 2015 Global Alumni Reunion MBA program. This change was made to commemorating the 50th anniversary was held in Munich under the meet increased demand for places from of the MBA (1966-2016) concluded with title “Expanding Impact: The highly qualified candidates as well as events in locations including Barcelona, Power of Excellence in Business.” demand from recruiters for IESE MBA New York, Milan, Singapore, Miami and Over a thousand alumni heard graduates. This year, 91 percent of the New Delhi. More than 3,000 alumni took from prominent business leaders, full-time MBA students accepted a job part in the MBA anniversary events. academics and opinion makers. offer within three months of graduation.

4 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 NEW IDEAS PUSH RESEARCH CHAIRS CREATED CUSTOM PROGRAMS EXPAND PROGRAMS FORWARD Two new IESE Chairs were created: More Custom Programs were added to Research carried out by IESE The Puig Chair of Global Leadership the Executive Education portfolio. New professors continued to be published Development, held by Marta Elvira clients included Michelin and the Japa- in leading academic journals. The and the Fuel Freedom Chair for nese housing and building corporation ongoing generation of new and Energy and Social Development, Lixil, which was looking for a program to actionable ideas from research held by Ahmad Rahnema. And Crèdit assist with its global expansion. Modules contributes to keeping IESE’s Andorrà substantially increased the of bespoke Custom Programs were held programs highly relevant. endowment of the Chair of Markets, in Asia for other client companies such as held by Josep M. Rosanas. Banco Santander and Oracle.

LEARNING TAKES TECHNOLOGICAL LEAP Technological advances were made in the delivery of programs, with blended learning increasing the efficient use of classroom time. New online courses such as the “Foundations of Management” specialization offered through Coursera can serve as presentations of the school to future students or as pre-courses for enrolled students.

INTERNATIONAL ALLIANCES WITH TOP BUSINESS SCHOOLS IESE has maintained alliances with Harvard Business School and other leading institutions for over 50 years. The IESE-HBS relationship led to the renovation this year of the joint program Value Creation Through Effective Boards. IESE and HBS also offer the Global CEO Program and work together through the HBS-IESE Committee.

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 5 A LASTING LEGACY On August 31st 2016, Prof. Jordi Canals stepped down as dean of IESE after 15 years of service. He leaves a lasting legacy of learning, growth and global development.

GROWTH IN GERMANY of other activities at the school, led IESE’s impact in Germany grew from IESE to decide to expand its campus a handful of alumni attending a facilities in Madrid and Barcelona. 2004 meeting to explain the school’s The renovation of Barcelona’s South plans for Munich, to over 1,000 Campus was completed in 2016 and a alumni attending the Global Alumni new building in Madrid is expected to Reunion and newly inaugurated get underway in 2017. permanent campus in 2015. During the intervening decade, the AMP (Advanced Management Program) GLOBAL PROGRAM LAUNCHES was launched in 2005, and the The Global Executive MBA was PMD (Program for Management launched in 2001. In 2001-2006, other Development) in 2011. program launches included AMP Sao Paulo (2002), AMP Barcelona (2003), AMP Warsaw (2006), and the Global U.S. EXPANSION CEO Program for China in partnership The longstanding relationship with Harvard Business School and between IESE and Harvard CEIBS (2006), EMBA on the Barcelona Business School deepened, and IESE campus (2008), and the Global CEO strengthened its ties with other Program in partnership with Wharton “The spirit of service leading schools including Wharton, and CEIBS (2010). In 2012, the Executive Stanford and MIT. The school opened MBA Sao Paulo was launched. that we foster and the doors of its permanent New embody at IESE... York campus in 2012. The school had is where the relationship already led the SEP (Senior Executive A GROWING GLOBAL FACULTY Program) New York-Miami in New In recent years, IESE’s faculty has of students with the school York since 2010. In 2011, the AMP become increasingly global, with starts. What alumni remember Media & Entertainment in New York professors from many countries from their IESE experience is was launched, and two years later the providing a wealth of experience. not just exceptional classes, PLD New York. The result is that IESE is now but an ‘IESE magic’ that an institution with a profoundly international character and extensive many consider has had a BUILDING BARCELONA reach. In terms of research, faculty transformational impact on AND MADRID CAMPUSES members apply IESE’s unique their lives.” In 2007, the North Campus in Barcelona approach toward companies, their was inaugurated. Rising numbers of management, the economy, and wider JORDI CANALS Former Dean MBA enrollments and in-company social challenges to answer today’s program clients, as well as the growth most pressing questions.

6 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 PERSONAL GROWTH “Our students grow personally and professionally, ready to face the challenges of the future.”

ERIC WEBER Associate Dean 02. PERSONAL GROWTH THE MBA PROGRAMS IESE offers three MBA programs: the full-time MBA, the Executive MBA 1,215 Total MBA Students: and the Global Executive MBA. Full-time MBA, EMBA and Global EMBA

THE FULL-TIME MBA THE FULL TIME MBA CLASS STARTING 2015-2016 Students and alumni around the world took part in the second year of a global series of events to commemorate the 50th anniversary of the IESE MBA Program. 55 28% Nationalities Women Significant developments included the introduction of a fifth section that will continue to increase the program’s diversity. The international aspect of the 577 670 program is a priority. This is Students Average GMAT reflected not only in the elective courses held in New York, Sao Paulo, Shanghai and Nairobi but STUDENTS BY GEOGRAPHIC AREA also in the presence in classrooms of students from 55 countries and 39% Europe professors of international renown. It is reinforced further through an international focus on learning 16% North America management.

IESE has built an entrepreneurial 26% Asia ecosystem. The recently introduced Summer Entrepreneurship Experience is already delivering results in the form of start-ups launched by IESE students. The Entrepreneurship Experience is one 15% Latin America of the summer internship options. 8% Middle East & Africa

8 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 02. PERSONAL GROWTH

• BERKELEY HAAS, AUSTRAL, • NYU STERN, U.S. U.S. ARGENTINA • RECANATI, ISRAEL • CEIBS, CHINA • IPADE, MEXICO • ROTTERDAM SCHOOL • CHICAGO BOOTH, • INDIAN SCHOOL OF MANAGEMENT 30 U.S. OF BUSINESS (ISB), (RSM), Business schools in • COLUMBIA BUSINESS INDIA THE NETHERLANDS the full-time MBA SCHOOL, U.S. • KBS, KEIO • TUCK, U.S. Exchange Program • CORNELL UNIVERSITY, JAPAN • UCLA ANDERSON, UNIVERSITY • KELLOGG, U.S. U.S. (JOHNSON), U.S. • LONDON BUSINESS • UNC KENAN-FLAGER, • DARDEN, UNIVERSITY SCHOOL U.S. OF VIRGINIA, U.S. (LBS), U.K. • WHARTON, U.S. • DUKE UNIVERSITY • MELBOURNE • YALE SCHOOL (FUQUA), U.S. BUSINESS SCHOOL OF MANAGEMENT, • GSIMA, JAPAN (MBS), AUSTRALIA U.S. • HEC, FRANCE • MICHIGAN ROSS, U.S. • YONSEI SCHOOL OF • HKU, CHINA • MIT SLOAN, U.S. BUSINESS (YSB), • HKUST, CHINA • NANYANG, SOUTH KOREA • IAE UNIVERSIDAD SINGAPORE

The MBA Program is action orientated and focuses on the PLACEMENT IN THE FULL-TIME MBA, CLASS 2016 human and ethical dimensions of business. Its curriculum is constantly updated in order to better develop future business leaders. Innovations this academic year 25 included a communication skills Top recruting companies development course and a course in the full-time MBA to improve teamwork skills. This 83% consisted of modules and sessions • AB INBEV tackling topics such as team • ADIDAS management, conflict resolution, and • AKZO NOBEL receiving and providing feedback. • ALIBABA GROUP of the full-time MBA students • AMAZON Experiential learning in the • AMERICAN EXPRESS changed the location, function • BERTELSMANN program continued to increase. The or section in which they work • CARREFOUR Capstone Project is one of the most • DOW CHEMICAL COMPANY established MBA projects, in which • EXPEDIA.COM first-year students work in teams on • FALABELLA real companies’ business problems. • GLAXOSMITHKLINE In 2015-2016, the nine participating • GOOGLE companies were Airbnb, Altadis, • HILTI Espuña, HPE, Isdin, Nestlé, Roche • JOHNSON & JOHNSON Farma, Schneider and the Vicente • MANGO 91% • MICROSOFT Ferrer Foundation. • NIKE • NOVARTIS • RECKITT BENCKISER YOUNG TALENT PROGRAM • TELEFÓNICA The program is a pipeline for future of the full-time MBA students • THE KRAFT HEINZ COMPANY talent and it currently has 112 net accepted a job offer within • UBER TECHNOLOGIES candidates enrolled. In 2015-2016, • UPS three YTP students started the MBA. three months of graduation • WERFEN GROUP

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 9 02. PERSONAL GROWTH

THE EXECUTIVE MBA BY THE NUMBERS The IESE Executive MBA (EMBA) Program helps managers to develop executive capabilities and the in depth knowledge they need to manage companies, as well as gain a global vision of the business world. In line with IESE’s mission, the program has a 550 Students humanistic focus. The Executive MBA is currently delivered in Barcelona, Madrid and Sao Paulo. The Class of 2016 was the third to graduate in Sao Paulo.

In 2015-2016, a recent program redesign was implemented: The 32 program now includes three Average Age mandatory “intensive weeks” in the second academic year. Students combine immersion experiences in the international hubs of New York, Sao Paulo or Shanghai with elective courses and the executive management simulation program 27% (EXSIM). Women

THE GLOBAL EXECUTIVE MBA BY THE NUMBERS The Global Executive MBA Class of 2016 consolidated the “One Class, Two Tracks” format, launched during the 2013-2014 academic year. The format sees two cohorts of participants begin the program in 88 New York and Barcelona before uniting Students in Asia, Europe and North America.

Focus this year was on more progressive integration and increased cohesiveness of the New York and Barcelona tracks, and on a final compulsory week concluding with a 38 joint graduation. Average Age

Curriculum innovations were introduced to improve the learning experience for participants in what is one of IESE’s most blended programs. The ultimate goal is to position IESE in the vanguard of Executive MBA 86% Programs across the globe. International Students

10 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 02. PERSONAL GROWTH EXECUTIVE EDUCATION Executive Education programs span five continents and have a common aim: to optimize the participants’ knowledge, integrative thinking and global mindset.

34 GENERAL 42 FOCUSED PROGRAMS 11 INDUSTRY MEETINGS MANAGEMENT PROGRAMS These programs had 1,001 Meetings with 220 speakers These programs were delivered to 1,167 participants, in Barcelona, Madrid and chairpersons and 1,589 participants in 15 cities in Europe, and New York. The first pilot of participants took place in Barcelona, North America, Asia and Latin America. a blended Focused Program was Madrid and Mexico City in 2015- IESE has international alliances with launched this year. In addition to the 2016. These platforms for knowledge top business schools including Harvard Value Creation Through Effective exchange among business executives, Business School, Wharton and CEIBS. Boards program with Harvard academics and thought leaders Some of these programs for general Business School, which ran for cover a wide range of industries, managers were redesigned to include the third time, a new program was including the automotive, banking, new learning methodologies. Other launched with the Michigan Ross energy, healthcare and IT sectors. groups and programs will also begin to School of Business, entitled Becoming A landmark was the 30th edition of incorporate these new features. a Positive Leader. IESE Auto.

CUSTOM 5 LEADERSHIP PROGRAMS PROGRAMS FOR PUBLIC SECTOR IESE delivered customized learning MANAGEMENT programs to 4,500 executives in 70 In 2015-2016, five programs helped companies from 18 countries across 300 leaders in governmental and Europe, North America, South America public organizations learn how and Asia. Recent companies to work to professionally manage public with IESE on such programs include resources, develop new managerial Lixil and Michelin. A number of these capabilities, motivate their teams were blended (online and residential), better and implement management incorporating methodologies such models to carry out public policies. as e-sessions and action learning One program was held in collaboration to complement in-classroom case with the Harvard Kennedy School of discussions and workshops. Government.

BY THE NUMBERS

86% Total Participants International Students 8,662

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 11 02. PERSONAL GROWTH EXECUTIVE EDUCATION AROUND THE WORLD

NEW YORK CAMPUS, U.S.

GENERAL MANAGEMENT PROGRAMS: • Senior Executive Program, New York-Miami • Advanced Management Program in Media and Entertainment, New York-Los Angeles • Program for Leadership Development, New York-Miami • Global CEO Program: Shanghai Philadelphia-Barcelona

FOCUSED PROGRAMS: MUNICH CAMPUS • Advanced Digital Media GERMANY Strategies • Making It Work • Doing Business Globally • Developing Leadership Competencies

CUSTOM PROGRAMS: Abbott, Avanade, BMW, Bradesco, Credit BARCELONA & MADRID CAMPUSES Suisse, Eurovision, Lixil, Michelin, NEW YORK CAMPUS SPAIN Oracle, SAB Miller, etc. U.S.

LATAM, BRAZIL AFRICA

GENERAL MANAGEMENT SAO PAULO CAMPUS PROGRAMS: • Advanced Management Program BRAZIL (AMP Sao Paulo) • Program for Management Development (PMD Sao Paulo) • Global CEO Program • PADLA (Programa de Alta Dirección para Líderes de las Américas) CUSTOM PROGRAMS: Abertis, Banco Santander, Bradesco, Gas Natural Fenosa and Anglo American.

12 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 02. PERSONAL GROWTH

MUNICH CAMPUS, GERMANY

GENERAL MANAGEMENT #1 The Financial Times PROGRAMS: • Advanced Management Program ranked IESE #1 (AMP Munich) in Executive Education • Program for Management Development (PMD Munich) programs for the second year in row. CUSTOM PROGRAMS: BASF, BMW, Boehringer Ingelheim, The Financial Times Carlsberg, Erste Bank Group, Henkel, highlighted IESE’s Haniel Group, Phoenix, etc. international scope and reach, faculty and participants’ satisfaction.

LEARNING INNOVATIONS

TECHNOLOGIES REINFORCEMENT: Video Clips: These introduce a topic that is subsequently ASIA explained in class. Online Platform for sharing documents for class preparation.

ASIA GENERAL MANAGEMENT Audio Cases: Audio format, PROGRAMS: supplementary to the traditional • Global CEO Program format. • Global CEO Program for China NEW ACTIVITIES: CUSTOM PROGRAMS: Negotiation Workshop.

Banco Santander, Ethos, Executive Coaching process Lixil and Oracle. that begins with a leadership competences assessment. Executive Challenge: Each participant describes to five others a specific business problem and receives feedback. AFRICA Simulation on managing change. Digitalization Workshop: It aims at raising awareness Pan-African AMP among participants about the challenges posed by the ongoing digitalization of most industries.

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 13 02. PERSONAL GROWTH PhD The program prepares students for an academic career at the world’s leading business schools and universities.

The PhD program educates students Pedro Silva Belisario: His paper BY THE NUMBERS in research and it prepares them to “Information Spillovers: The Effect influence management thinking in of Analyst Coverage on Stock their areas of specialization. Returns Co-movement” was awarded with the Best Paper Award of the 2015 London Business Research AWARDS AND DISTINCTIONS Conference and the 2015 Paris 27 Business Research Conference. PhD Students In terms of research output, students attended and presented STUDENTS BY GEOGRAPHIC AREA papers at the most prestigious international research conferences and symposiums. Several awards and distinctions were achieved, including: 34% Americas 28% Europe Anthony Silard: OCIS Desanctis 34% Asia Award & William H. Newman Award Nominee for his paper “The Internet Bait-and-Switch: The Influence of 4% Africa Connectivity on Contactedness and Connectedness” at the Academy of Management Annual Meeting 2015 (Vancouver).

INTERNATIONAL FACULTY PROGRAM

The International Faculty Program (IFP) administration. Participants explored Graduates have gone on to teach and prepares business school professors to the case method and received support conduct research in more than 200 make outstanding contributions to their in the preparation of new business cases business schools, economy and business institutions through the development of and curriculum planning. administration faculties and other critical teaching and leadership skills. educational institutions. The IFP dates back to 1991 when IESE The 25th edition of the IFP saw 19 first started delivering seminars for participants from 10 countries (Canada, professors from Central and Eastern BY THE NUMBERS Croatia, Spain, the Philippines, Finland, Europe. The first edition of the program Ireland, Kenya, Mexico, Nigeria and officially took place in 1992. Since then it Pakistan) study on IESE’s Barcelona has educated more than 500 professors campus. Over three weeks and 11 from over 70 countries – most from modules, the school’s faculty presented emerging countries – in Africa, Asia, 500 methodologies for teaching business Europe and Latin America. Professors from 70 Countries

14 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 INNOVATE “Our faculty members generate insightful ideas and solve problems for the senior managers of today – and of tomorrow. As professors, our faculty members help IESE program participants to develop into better leaders – and better human beings.”

MARTA ELVIRA Associate Dean for Research

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 15 03. INNOVATE

LEARNING ALUMNI MASSIVE DIGITAL SERIES OPEN ONLINE COURSES INNOVATIONS Hundreds of alumni joined a pilot In 2015-2016, IESE professors offered online course, “Developing a Digital four Massive Open Online Courses IESE is experimenting with new Mindset,” which combined online (MOOCs) through Coursera, one tools and approaches in the context resources with personal synchronous of the world’s leading providers of specific methodologies: distance and asynchronous engagement of MOOCs, with nearly 20 million learning, coaching and mentoring, between faculty and participants. registered users. IESE is amongst action and experiential learning, It received very positive feedback a small group of schools on the simulation-based learning and online and the series will be extended in platform to offer courses in two learning. Innovations this year 2016-2017. languages. include:

16 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 03. INNOVATE

“New developments such as digitalization, recent discoveries in neuroscience, advancements in HR practices and the emergence of new learning methodologies are driving changes in education. Inspired by this ongoing evolution in teaching and learning, IESE has formulated a concept called ‘omni-learning.’ In omni-learning, professional development becomes an everyday journey undertaken at any place or time, integrated into executives’ daily activities and informed by personalized, data-driven insight. A blended-learning model has been adopted as the framework for the design of IESE programs and as a step toward omni-learning.”

PROF. EVGENY KÁGANER IESE Learning Innovation Unit Academic Director

ONLINE IMPROVEMENTS TEDXIESEBARCELONA SPECIALIZATION IN PROGRAMS Members of IESE’s MBA Innovation The school offered its “Foundations of Some IESE programs, such as the Club organized the 2016 edition of Management” specialization through Global Executive MBA and Custom TEDxIESEBarcelona in March 2016, Coursera. Coursera specializations are Programs, have already introduced titled “Discover Hidden Potential,” sequences of related MOOCs focused new learning techniques and on IESE’s Barcelona campus. on a specific subject ending with a methodologies in recent years. In This licensed but independently capstone assignment. IESE’s five- 2015-2016 it was the turn of the organized conference under the course series comprises short courses Spanish-language Program for banner of the TED non-profit in the areas of accounting, finance, General Managers (PDG) and Focused featured nine speakers, and 300 marketing and managing people. Programs to add new developments. attendees.

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 17 03. INNOVATE RESEARCH IESE’s faculty members contribute leading-edge research to academic publications, conferences and seminars to help solve management challenges.

Noteworthy activities during 2015-2016 BY THE NUMBERS 2015-2016 included the launch of WeGrow by the Entrepreneurship and Innovation Center (EIC). The program aims to pass the experience of successful business leaders on to young IESE entrepreneurs.

The IESE Business Angels Network financed start-ups with 25 investments totaling more than 3 million euros and published the AEBAN Business Angels Report, the first Spanish study regarding investment trends.

The International Center for Work and Family published “Women on the Boards of the Ibex-35,” which analyzed the ground gained by Cases female board members in Spain’s benchmark stock market index 103 with the goal of promoting women’s leadership in business.

The Specialist Center for Public- Private Partnerships in Smart and Sustainable Cities (PPP for Cities), which is under the umbrella of the PPSRC Research Center, organized Chairs Research Centers the I International Conference 22 12 PPP for Cities entitled “Fostering Sustainability and Innovation in Cities Through Public-Private Partnerships.” 31 50 57 During the 2015-2016 academic year, Articles in non-refereed Articles in Teaching notes IESE started a total of 14 new Competitive Research Projects, journals and magazines refereed journals and technical notes

18 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 03. INNOVATE

NEW IESE CHAIRS

consumption. The new Chair will FUEL FREEDOM CHAIR FOR also foster the dissemination of ENERGY AND SOCIAL knowledge and experiences to DEVELOPMENT facilitate cross-learning among markets, governments and firms in The Fuel Freedom Chair was emerging countries. conceived as a platform for research on energy aimed at including the new Horizon2020 project reducing energy poverty in “ACTTiVAte – Pan-European Clusters developing countries. The Chair’s for Technology Transfer and New Value Chains” from the Business Angels first project, “em-POWERing Network, four new projects funded Africa,” will study ways for by the Spanish Ministry of Economy African countries to use locally and Competitiveness, and a research produced fuels that are cleaner fellowship from Fundación BBVA. than gasoline. The project will also examine logistics, in order to mitigate the adverse effects of poor IESE PUBLISHING infrastructure, weak regulation, The school’s publishing arm is an and weak capital flows. Another international producer of cases Ahmad Rahnema, holder of the Chair, program focus is domestic energy and Yossie Hollander. and other management teaching materials for academic institutions. Sales increased by 6 percent during the 2015-2016 academic year.

PUIG CHAIR OF GLOBAL IESE INSIGHT IESE’s research is shared through LEADERSHIP DEVELOPMENT global publications and through IESE Insight, the school’s knowledge The Chair will foster knowledge portal and quarterly magazine. The generation for effective human online version of the magazine is capital strategies that enable distributed to 17,000 managers and firms to drive long-term economic scholars. IESE Insight portal has growth and social progress. The 21,474 subscribers. Puig Chair also provides a forum for debate between business leaders and academics in the form of a THE IESE LIBRARY Marc Puig, Marta Elvira, the Chair holder, leadership think tank. It will also and Mariano Puig. In 2015-2016, the library focused develop educational activities on improving user experience within the PhD, MBA and Executive advantage; how companies can by offering better services and collections. Students, faculty and Education Programs. The Puig Chair develop diverse, inter-generational alumni can currently access to 54,599 will pursue three principal lines of and engaged workforce for the long volumes, 37,183 paper books, 326,289 research: Leadership development term; and identifying best practices electronic books, 89 paper journals and human capital strategies to in leadership development adopted and 26,790 electronic journals. deliver sustainable competitive by globally successful companies.

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 19 03. INNOVATE FACULTY IESE’s faculty comprises 101 full-time professors from 31 different countries. Three professors joined the faculty during the 2015-2016 academic year.

THIRTEEN FACULTY MEMBERS BY THE NUMBERS WON INTERNATIONAL AWARDS

Andreu, R., IESE Research Excellence Las Heras, M., 2016 Emerald Literati Award awarded by the IESE Alumni Network Award for her paper “How Association for his book “Huellas: National Context Moderates the Impact of Construyendo valor desde la empresa”. Family-Supportive Supervisory Behavior on Job Performance and Turnover Intentions” Antonopoulou, K., 2016 Organizational co-authored with S. Trefalt and P.I. Communication & Information Systems Escribano, published in the Journal of the Division of the Academy of Management Iberoamerican Academy of Management. Best division Paper Award for the paper “Creating new value through repurposing Moscoso, P., 2015 EFMD Case 101Full-time digital innovations” co-authored with J. Competition Winner in the Section Supply Professors Nandhakumar and O. Henfridsson. Chain Management with his case “The HP Helion Proposal: To Migrate or Not to Berrone, P., 2016 Organization and Migrate to the Cloud, That Is the Question” Management Theory Division of co-authored with E. Flores and F. Vázquez. the Academy of Management Best International Paper Award for the paper Nueno, P., Honorary Member of the 68 31 “The Family-Legitimizing Environment and European Council of Doctors. External Nationalities the Prevalence, Strategy, and Performance of Family Firms” co-authored with P. Ormazabal, G., 2015 Review of Collaborators Duran, L. Gomez-Mejia, P. Heugens, and Accounting Studies (RAST) Conference M. Vanessen. Best Discussion Award.

Dávila, A., 2015 E. Yetton Prize awarded Reiche, S., IESE Research Excellence by the Australian Journal of Management Award awarded by the IESE Alumni for his paper “The Rise and Fall of Association for his article “Why and How 3 Startups: Creation and Destruction of Does Shared Language Affect Subsidiary New Full-time Revenue and Jobs by Young Companies” Knowledge Inflows? A Social Identity Professors co-authored with George Foster, Xiaobin Perspective” co-authored with A. Harzing He, and Carlos Shimizu. and M. Pudelko. Miguel Duro, Assistant Professor of Accounting and Font. V., IESE Research Excellence Award Ricart, J.E., 2016 Emerald Literati Control, PhD Columbia Business School awarded by the IESE Alumni Association Network Awards as Outstanding Reviewer for his course “Marketing, Planning and for Management Researcher: The Implementation” (EMBA-BCN). Journal of the Iberoamerican Academy of Solon Moreira, Management. Assistant Professor of Entrepreneurship, Klueter, T., AMJ Best Article Finalist 2015 PhD Copenhagen Business School (Top 3 Papers) for his paper “Decoding Vaccaro, N., AMJ Best Article Finalist the Adaptability-Rigidity Puzzle: Evidence 2015 (Top 3 Papers) for his paper “Values Giovanni Valentini, from Biopharmaceutical Incumbents’ Against Violence: Institutional Change in Associate Professor of Strategic Pursuit of Gene Therapy and Monoclonal Societies Dominated by Organized Crime” Management, PhD IESE Antibodies” co-authored with R. Kapoor. co-authored with G. Palazzo.

20 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 POSITIVE IMPACT “For more than 25 years, IESE has had a positive effect on management education in Africa by helping to found business schools and to develop faculty members there. All these activities are carried out under the umbrella of the IESE Africa Initiative.”

PROF. ALEJANDRO LAGO Co-director of The Africa Initiative

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 21 04. POSITIVE IMPACT WHEREVER YOU ARE IESE was founded with a global mindset and continues to deliver outstanding management education around the world.

Barcelona Campus.

SCANDINAVIA

New building in Madrid Campus. CANADA

MUNICH U.S. BARCELONA NEW YORK MADRID SILICON VALLEY

MIAMI Munich Campus.

IPADE MEXICO UNIS, GUATEMALA CEIBS, INALDE GHANA COLOMBIA MDE, COTE LBS, D’IVOIRE IDE, ECUADOR NIGERIA

PAD ISE PERU AESE, BRAZIL New York Campus. ANGOLA SAO PAULO

ESE IEEM CHILE URUGUAY IAE ARGENTINA

Sao Paulo Campus.

22 IESE BUSINESS SCHOOL ANNUAL REPORT 2015/2016 04. POSITIVE IMPACT

IESE MILESTONES AFRICA Supported the development of UK NETHERLANDS WARSAW management education in Africa for over 25 years. LONDON BELGIUM POLAND IESE CAMPUS GERMANY ASSOCIATED Works with African business schools AND PARTNER SCHOOLS to deliver programs and support FRANCE AUSTRIA business communities through research ALUMNI CHAPTERS SWITZERLAND initiatives, expertise sharing and SITES networking events. AESE ITALY PORTUGAL SPAIN Creates and reinforces connections across the continent through The Africa Initiative, the school’s umbrella project for its activities in the region.

ASIA Active in Asia for over 20 years and focused on the region as a high strategic RUSIA priority for the future. 22 percent of MBA students come from Asia and initiatives continue to expand there through Executive Education programs and other program modules. Started Global CEO Program for China with Harvard Business School an CEIBS JAPAN CEIBS in 2005. CHINA TOKYO SHANGHAI EUROPE HONG KONG Launched Europe’s first two-year INDIA TAIWAN MBA in 1964. Began Executive Education programs CEIBS, UA&P, PHILIPPINES for Germany in 2005. GHANA Opened a permanent campus in Munich LBS, in 2015. NIGERIA SINGAPORE SBS, LATIN AMERICA KENYA Played a key role in the foundation and development of nine associated business schools in Latin America since 1970. Started programs for senior executives in Sao Paulo in 2002. BY THE NUMBERS Launched Executive MBA Sao Paulo in 2012.

U.S. Established the Harvard Business 5 8 14 200+ School-IESE Committee in 1963. Campuses Offices Associated Partner Companies Campus in New York since 2006. Business Schools Around the World

ANNUAL REPORT 2015/2016 IESE BUSINESS SCHOOL 23 04. POSITIVE IMPACT SOCIAL IMPACT IESE fulfills its mission to be a lasting source of positive change for the world by addressing some of the challenges facing society today through its programs and research.

curricula. MBA students organize HELPING DEVELOPING the annual Doing Good, Doing Well SUSTAINABILITY COUNTRIES conference, Europe’s leading student- The IESE Africa Initiative helps run event on responsible business. IESE’s operations are based coordinate all Africa-related school IESE also has two related Chairs: the on sustainable use of natural activities. In addition, IESE’s Grupo Santander Chair of Financial resources and respect for the International Faculty Program Institutions and Corporate Governance, environment. As part of the develops teaching skills to business and CaixaBank Chair of Corporate energy efficiency project that school professors around the world. Social Responsibility. The IESE Chair started three years ago, IESE IESE has also helped start and support of Business Ethics organizes an annual will continue to implement 14 international business schools International Symposium on Ethics, proposals aimed at reducing across Africa, Latin America, Asia and Business and Society. energy consumption, lowering Europe. CO2 emissions and reducing the school’s carbon footprint. WOMEN IN MANAGEMENT JOB CREATION IESE’s Women in Leadership (I-WIL) In 2015-2016, the school put Over 4,700 jobs have been generated platform promotes better practices in into place improvements directly by IESE, through the school’s organizations to increase the number that had been identified in venture capital fund Finaves, and of women in leadership positions. previously conducted audits, through its Business Angels Network. In 2015-2016, it organized alumnae such as replacing conventional IESE also works to promote vocational breakfasts, presentations through the lighting with LED solutions training to governments, unions, Women’s Lobby, Women on Boards and implementing a climate- companies and other employers. IESE club and Executive Club, and promoted control installation plan for professors lead industry discussions the Women on Boards Focused the Barcelona South Campus. and generate ideas about job creation. Program. Consequently, electricity consumption dropped by 6 percent compared with the PUBLIC LEADERSHIP ENTREPRENEURSHIP previous year. Gas consumption IESE’s Center for Public Leadership The school encourages also fell by 6 percent. Further and Government delivers programs entrepreneurship through its measures were implemented to senior officials throughout Entrepreneurship Department. to improve the management of Africa, Europe, Latin America and in It provides guidance and access water-saving systems. multilateral institutions like the to funding through Finaves,