Efmd Annual Report 2017 Message from the President & Director General

EFMD ANNUAL REPORT 2017 MESSAGE FROM THE PRESIDENT & DIRECTOR GENERAL

Dear EFMD Member,

2017 marked the 20th anniversary of the EQUIS was conceived as an accreditation launch of EFMD’s accreditation system system rooted in respect for diversity of EQUIS and this milestone was celebrated institutional and cultural contexts. It throughout the year. From the very promotes no “one best model” of a business beginning in 1997, EQUIS aimed at school and embraces higher education at achieving both recognition of quality and all levels, undergraduate, postgraduate, quality improvement in the world’s top doctoral or executive programmes. business schools – recognition through EQUIS looks at the leadership, strategy the award of a quality label valued and innovation of business schools and worldwide by students, faculty, employers unlike other accreditations schools can and media, and improvement through the fail and also lose accreditation. need to meet, and continue to meet, internationally agreed quality standards. EQUIS has had a profound impact on Alain Dominique Perrin management education globally in raising President, EFMD The creation of EQUIS was prompted by standards, visibility and the impact and the need to develop an accreditation legitimacy of business schools from all system targeted at those business schools corners of the globe. Since 1997, over around the world that were trying to make 600 peer review visits have taken place an impact beyond their domestic frontiers. and over one thousand deans and senior In designing EQUIS, EFMD aimed to meet directors from industry have taken part some of the needs faced by international in these visits and contributed greatly to business schools that AACSB, AMBA or enhancing quality improvement. any other national accreditation scheme were not satisfying or likely to satisfy in The philosophy behind EQUIS is at the the foreseeable future. This continues very heart of all of our other accreditation to be one of the objectives of EQUIS: systems and as a network we should be providing a differential value with respect immensely proud of the global standing to other accreditations to a select number and regard with which EQUIS is held. of business schools worldwide that strive for excellence. Professor Eric Cornuel Director General & CEO, EFMD & DIRECTOR GENERAL MESSAGE PRESIDENT FROM THE

our international network. that havepartnerships been formed across done but also the spirit, relationships and not just the exceptional work that is being clearly reflects Annual Report and highlights trust in the work ofEFMD and hope that this members, and for your continuedsupport In closing, we thank all of you, our valued the impact that we have. so many levels and we must keep reinforcing brings tremendous value tosociety across Management education and development keep the community spirit that we all share. strong global presence. But we must also members in 88countries, giving us a really The EFMD network now has over 900 CONTENTS 50 44 40 38 34 32 28 24 20 18 14 10 06 04 AUDITOR’S REPORT FINANCIAL REVIEW2017 EFMD TEAM2018 EFMD GOVERNANCE MEMBERSHIP EFMD PUBLICATIONS INTERNATIONAL PROJECTS DEVELOPMENT SERVICES EFMD AWARDS LEADERSHIP &DEVELOPMENT PROGRAMMES BUSINESS SCHOOLSSERVICES CORPORATE SERVICES QUALITY SERVICES HIGHLIGHTS 2017

3 4 HIGHLIGHTS 2017 HIGHLIGHTS 2017 EPAS continuedtoexpandits portfolio oftopprogrammes. portfolio Three newcountrieshave community: India,Tunisia been addedtotheEPAS defining thegoldstandardand EQUIS’ 20thAnniversary: celebrating excellence in diversity –174schools and Uruguay EQUIS qualitylabel worldwide holdthe

Challenge Volume 2 Record casesubmissions: involved growthof intheimportant sought toexaminethechallenges Africa: TheManagementEducation 400 in18categoriesof the 2017CaseWriting management educationacross Competition the Africancontinent Case Writing by HowardThomas

people development practicein EFMD Corporate Services push EFMD CorporateServices the corporateworldtoahigher level, withtwonewreports: Transparent andAdaptive Talent Market the EQUIS portfolio: the EQUISportfolio: Czech Republic New country in New country Age Learning and Digital

Extended professionaldevelopment portfolio: WinterSchool,Summer portfolio: School andAsia-Pacific School. Record numbersatESMT More than 100 participants More than100participants 531 participants from 531 participants Annual Conference: Berlin fortheEFMD and extendedalumni 58 countries network (500+)

Latin America.Two newEUfunded support theinternationalisation support projects inCubaandPanama Consolidated presencein of highereducationand the development of peers, andexpandtheirhorizons through entrepreneurship First editionoftheStrategicLeadership challenges, exchange experienceswith Programme for Deans. Participants Programme forDeans.Participants strategic dialogue.Theprogramme newly appointeddeanstodevelop education provides anexcellent platformfor address strategicquestionsand their network

CarringtonCrisp andEFMD: whilstthe popular destinationsforinternational USA andtheUKremaintwomost students respectively, arelesslikely business students,40% and28%of election ofPresidentTrump and to considerthem,following the Business ofBranding

the BrexitReferendum University Development and Innovation –Africa(UDI-A) First participation inanEU First participation funded projectinAfrica: focusing onAngola and Mozambique survey by

5 HIGHLIGHTS 2017 6 QUALITY SERVICES QUALITY SERVICES QUALITY showcasing theirinstitutions’qualityimprovement stories. comments from aselectedgroup ofschoolsaccredited by EQUIS To markthecelebrations,EFMDpublishedanumberof knowledge tothedevelopment ofthesystem. visits withmore devoting thanathousandexperts theirtimeand Over thelast20years, EQUIShasconductedover 600peerreview management educationindustry. They alsogave theirthoughtsonthefuture development ofthe enhancing thequalityofmanagementeducationworldwide. voices, emphasizingthevalue androle EQUIShasplayed in development oftheEQUISaccreditation systemaddedtheir More whocontributedtothe thantendeansandexperts future. the of perspectives some and values core the development, to its idea initial the from EQUIS of evolution Osbaldeston, Associate EFMD Director, highlighted the Michael and EQUIS, of father founding the Shenton, Gordon with interview Avideo Berlin. ESMT of part now in Schloss Directors, Gracht Germany,Deans General and for Conference EFMD the at ago decades two launched was which EQUIS, of 2017 Anniversary 20th the marked INTRODUCTION in the course of 2017. accreditation systems brought together more than 450 participants business schoolsand other stakeholders information on EFMD to thenext20years. A wide range of events designed to offer celebrating two decades ofEQUIS, which included a look forward Ulrich Hommel and Michael Osbaldeston authored an article In the autumn edition ofEFMD’s business magazine websites and to share the news on their social media channels. publish an announcement of on the their EQUIS 20th Anniversary banner “I’m of1% of leading business schools”, part EQUIS-accredited schoolswere invitedtousetheEQUIS celebratory shared onEFMD’s socialmediachannels. wereArticles on the EFMD published blog throughoutthe year and

encouraged to encouraged to Global Focus , • • • • • • STORY ONTHEEFMDBLOG SHARED THEIREQUISSUCCESS THE SCHOOLSTHATHAVE School, University ofStellenboschBusiness China of Management,XiamenUniversity,School Los Andes, School ofManagement,Universidad de Tongji University, School ofEconomics andManagement, SKEMA BusinessSchool, United Kingdom Nottingham University BusinessSchool, South Africa Colombia China

France half-day seminars: InformationSessions and Quality Services • • EFMD inBrussels,Belgium: sessions were heldin2017,bothhostedby review andpost-accreditation phases.Two focus ontheself-assessmentreport, peer accreditation processes –withthemain complete thedifferent stagesofthe provide in-depthguidanceonhowto Accreditation Seminars)designedto Accreditation Seminars(so-calledXXL Two-day EQUISorEPAS Advanced • • focus ontheapplicationphase: the key stagesoftheprocess withthemain accreditation andprovided anoverview of institutions consideringapplyingfor Accreditation Seminarstargeted One-day EQUISandEPAS Introductory INFO-SESSIONS SEMINARS AND 9-10 October EQUIS XXLAccreditationSeminar, on 22-23 March EPAS XXLAccreditationSeminar, on & Management hosted by theFrankfurt SchoolofFinance In Frankfurt, Germany, on4-6December, Management atitsMiamicampus Office, hosted byAdolfoIbáñezSchoolof in collaborationwiththeEFMDGN In Miami,UnitedStates,on27-29March,

• • • Indonesia hosted by BINUSUniversity International, EFMD GNAsiaAnnualConference organised inBalifollowingthe2017 Seminar covering EQUISandEPAS was On 27-28October, aQSIntroductory and Herzegovina School ofEconomics &Business, Bosnia was hostedby theUniversity ofSarajevo on EFMDMembership&Accreditations On 13October, aQSinformationsession Education: Market trendsinCEE” The topicwas“QualityinHigher CEE OfficeinPrague, Czech Republic. atthenewEFMDGN and certifications organised aworkshoponaccreditations On 5-6October, EFMD&GN

7 QUALITY SERVICES 8 EQUIS QUALITY SERVICES QUALITY accreditation of35others. to seven newschoolsandrenewed the meetings, granted EQUISaccreditation The EQUISAccreditation Board, duringits assessment exercise. data provision during theEQUIS the obligationonreiteration ofbasic for maintainingEQUISaccreditation and continuous development asakey factor among themare there-emphasis of fine-tuning ofanumberpolicyissues; meeting of16November discussedthe EQUIS Committeemembersduringtheir stage. advisory EQUIS process and are atthepre-eligibility have intothe formallyappliedforentry towards accreditation; 27more schools schools have beendeclared eligibletomove in2016,twelve Service of theAdvisory of eligibility. Sincetheimplementation the EQUISCommitteetoincrease chances comprehensive andcleardatasheetsto with theiradvisorstosubmitmore theschoolsare Service, working Advisory Fully benefitingfrom the recently introduced Thailand andtheUnitedKingdom. Ireland ,Israel,Japan,NewZealand, Spain, The newschoolsare from Australia,China, EQUIS process. declared nineschoolseligibletoenterthe (23 March, 22Juneand16 November) and The EQUISCommitteemetthree times initial EQUIS accreditation. to receive aimed schools eight and process Re-accreditation Special the 2017.in through went schools Three Visits Review 47 Peer organised EQUIS EQUIS

Insper InstitutodeEnsinoePesquisa, EQUIS NEWLY ACCREDITEDSCHOOLS three years and108forfive years. Europe in23different countries.Sixty-six schoolsare accredited for EQUIS-accredited. Eighty EQUISSchools(46%)are locatedoutside By theendof2017,174schoolsin42different countrieswere Nottingham Trent University Nottingham BusinessSchool University ofWarsaw Faculty ofManagement Indian SchoolofBusiness Technische Universität München, TUM SchoolofManagement, University ofEconomics, Prague Faculty ofBusinessAdministration, National Taiwan University of Science and Technology, School of Management, , Poland

Czech Republic , India , United Kingdom

Germany Brazil

Chinese Taipei the remaining programmes for three years. Overall, 35programmes (about 32%) are accredited for five years and Morocco, Saudi Arabia, Thailand, Tunisia, Uruguay, US and Vietnam. Australia, Canada, China, Colombia, India, Indonesia, Israel, Korea, (about 23%) are delivered by institutions located outside Europe in 38 countries held EPAS accreditation. Twenty-five programmes By the end of 2017, 108 programmes from 81 institutions across EPAS accredited programmes received EQUIS accreditation. had been awarded EQUIS accreditation. In 2017, two more schools with a given reason or where it could not do so because in the meantime it where either theinstitution decided not to renew EPAS accreditation for The accreditation of six programmes expired in 2017. Thesewere cases accreditation to eleven new programmes from ten institutions. renewed EPAS accreditation for 25 programmes and grantedinitial In 2017, the Board examined 40 programmes from 31 institutions and be examined. The last meeting in 2017 was held via video-conference. Board held four meetings in one year due to the high numberofcasesto 12 September and 13December 2017. It was the first timethatthe The EPAS Accreditation Board met on 15February, 6 June, study that analysed EPAS Quality Profiles in recent reviews. Revisions, the Training of EPAS Reviewers and the conclusions of a discuss issues of common interest, such as the 2018 EPAS Document members of both bodies on the EPAS and activities, to portfolio meeting in Brussels on 12September. to update This was an opportunity The EPAS Committee and the EPAS Accreditation Board held a joint representing sixteen programmes. 17 May and 12 September. It grantedeligibilitytoeleven institutions institutions representing seventeen programmes on 14 February, The EPAS Committee considered new applications from twelve programmes; were the remainder re-accreditations. new were sixteen which of reviewed, were 41 programmes 2017. in Visits Review Peer 32 EPAS organised of Atotal EPAS SERVICES QUALITY

Australian CatholicUniversity, Peter Faber BusinessSchool, Universidad de Montevideo, IEEM Business School University of Portsmouth, Business SchoolPortsmouth South Mediterranean University, Mediterranean School of Business Mälardalen University, School of Business, Society and Engineering, Netherlands Amsterdam University of Applied Sciences, Amsterdam School of International Business, University of Bologna, Bologna Business School Institute for Management Development, Shri Dharmasthala Manjunatheshwara Université Paris II Panthéon-Assas, CIFFOP Universidad de León, Università di Trento, Universität Kassel, Université Savoie Mont Blanc, EMBS Consortium: EPAS NEWLY ACCREDITEDPROGRAMMES

Germany Italy Spain Italy

Sweden

United

Uruguay

France

Australia Tunisia

Kingdom

France

India Executive MBA MSc Business and Management Undergraduate Programme in Management Marketing Master’s Programme in International Business Management Bachelor’s Programme in International International Business & Languages Management Studies and Bachelor Bachelor International Business & Bachelor Programme Set: Master in Human Resources and Organisation Post Graduate Diploma in Management Resources Management Master’s Degree in International Human European Master in Business Studies (EMBS) Bachelor ofCommerce

9 EPAS 10 NETWORK SERVICES NETWORK SERVICES NETWORK This insight will guide our actions in the foreseeable future. foreseeable the in actions our guide will insight This enabler. to learning provider learning from transformation To the is it with. have to cope summarise: predominantly functions &Development 2017 Learning issues the revealed May from survey members corporate Our management. of frontiers the push collectively and experiences share to openly members corporate for aforum provides EFMD CORPORATE SERVICES CLIP Steering Committee Meeting AND SHARINGBESTPRACTICE (SBP)WORKSHOPS CORPORATE LEARNINGIMPROVEMENT PROCESS(CLIP) stakeholder worldof work. organisations inanincreasingly multi- knowledge sharingwithinand across leadership, woulddrive collaboration and of transactionalandtransformational networked leader, whobeyond theconcepts insights abouttheemerging themeofthe and Economics, shared Portugal, his Director atNova SchoolofBusiness roundtable, Richard Flemming,Programme to thefeedback they received. Duringthe re-accreditation andhowthey respond shared theirexperienceongoingthrough ArcelorMittal, MazarsandCapgemini Hosted by EDP, Portugal 28 September CLIP Steering Committee Meeting Siemens GlobalLearningCampus. a presentation theHeadof by KaiLiebert, Business Transformation atSiemens”with the LearningFunction inDrivingDigital session wasorganised on “TheRoleof the CLIPpeerreview process. Aroundtable shared theirlearningexperiencesthrough Sberbank, RussiaandPertamina, Indonesia impact beyond Europe. Newmembersfrom CLIP isnowbeginningtodemonstrateits Hosted by SiemensAG,Germany 23 March representatives inthe event. participated Do Technologies’. Forty-eight corporate Capgemini andDaimler, aswell‘We complemented by casesfrom EDP, Bayer, perspective onthistopic,whichwas and Economics provided anacademic Nadim Habibfrom Nova SchoolofBusiness Environment”. Learning &Development toaNew Theme: Hosted by EDP, Portugal 29 September BestSharing Practice CLIP Workshop Siemens, Steelcase,SwissReandUBS. Lilly, Essilor, EtihadAirways, Metro, Nokia, more than30companiesincludingEli were from self-managed by participants sessions focusingon“LearningInnovation” and current majorchallenges.Fifteen questions,ideas with themtheirexpertise, wereAll oftheparticipants invitedtobring Transformation” Theme: Hosted by SiemensAG,Germany 24 March BestSharing Practice CLIP Workshop “Enhancing Agility–Adapting “Barcamp onLearning

Associate Director, published summarisedthesurvey inanarticle a seriesofroundtables Moehrle,EFMD orviaaSIG. Martin deeper intotheunderlyingissues, eitherthrough thelaunchof In September, theSteeringCommitteeexpressed thedesire todig “From learningprovider tolearningenabler”. The feedback provided canbesummarisedwiththeheadline still considered functionratherthan avalue-contributor. asupport these. Mostrespondents underlinedthatthelearningfunctionis future and themajorinternalobstaclestoeffectively copewith most significantchallengesforcorporatelearningfunctions inthe EFMD conductedamembersurvey inMay askingwhatare the EFMD CORPORATEMEMBERS SURVEY “ CLIP accreditation inDecember. Telkom Indonesiawasgranteditsinitial re-accreditation inMay. ArcelorMittal wasgrantedCLIP Re-accreditation and Accreditation CLIP in the & Development, EssilorInternational César Awad, InternationalTraining Manager, GlobalLearning event. the after members EFMD with contact the by maintaining session, ofthe out and in networking, this of use strong a make We expertise. of field our in knowledge valuable to share and cases business about to discuss professionals, of network alarge from to benefit opportunity an is it L&D community, our For HR. of evolution the on organisations international other from peers with to share opportunity aconcrete are sessions, Practice Best Sharing the especially events, EFMD The years. two than more for workshops Practice Best Essilor has been an active member of the EFMD Sharing Sharing EFMD ofthe member active an been has Essilor Global Focus Magazine in January 2018. MagazineinJanuary

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11 NETWORK SERVICES 12 NETWORK SERVICES NETWORK SERVICES NETWORK integrated into the corporate services database. integrated intothecorporate services as wellmanynewcorporate contactswhohave nowbeen joined thewebinarsfromOver 100participants across thenetwork • • • learning from theDigitalAgeLearningSIG: Three webinarswere organised inMarch andMay toshare the Future Series Webinars lively small group debates. work and plenary members sharing their take-away with other EFMD members through strong from participation the EFMD corporate network with SIG Seminar on Digital Age Learning. It attracted Corporate Advisory Combined with theSIG meeting, Pirelli also hosted anEFMD Age “Digital Learning” Seminar Corporate Advisory corporate community. the final werereport publishedandshared withthelarger EFMD inthedomain.Differentexternal experts documentsincluding throughout theproject. Thesessionwasenrichedby several Milan, Italy. Four sub-workinggroups presented theiroutcomes atPirelliassociation withIESE,tookplaceon12January in The finalmeetingofthisSIG,sponsored by Capgeminiin SIG Age‘Digital Learning’ network andbeyond. an extensive report andwidelydistributedacross theEFMD The outcomesofthisSIG,sponsored by Cisco,were publishedin SIG Talent Market” Adaptive and “Transparent SPECIAL INTERESTGROUPS(SIG) Designers Enabling DigitalAgeLearning –Develop LearningExperience to ImpactsontheLearningTeam Digital AgeLearninginAction–From Engagement Participant What isLearningintheDigitalAge?

“ and Welfare –Pirelli Learning, Development, Engagement Donatella deVita,GlobalHeadof company. the inside afterwards action take and together inputs and pieces the all to put opportunity perfect a was Seminar Advisory Corporate The framework. learning Pirelli the inside developed progressively been have which them from insights many took we and SIG by the generated network the workshops and the professional both by inspired definitely We were learning. age digital the on focused SIG) (or Group Interest Special this in actively to participate chance the immediately took we therefore and challenge this of beginning the facing were we team &Development Learning Global Pirelli As the mindset. working a different of creation the support and tools and platform new bring may transformation digital the which on organization the inside pervasive and relevant most ofthe one is process Yet, learning the organisation. whole the throughout transformation digital to supporting Pirelli HR team is strongly committed committed strongly is team HR Pirelli ”

with IBM,inOctober2017,attractedover from 140participants Politecnico diMilanoSchoolofManagement,Italy, inpartnership The EFMDExecutive Development Conference hostedby EFMD EXECUTIVEDEVELOPMENT CONFERENCE attended. participants 600 Around event. to the facilitators and panellists as contributed and 26 October on functions learning corporate and schools business for schemes accreditation its presented EFMD Work”. of World New the in Learning Lifelong Learning: Just than was “More topic The October. 27 on Moscow outside campus their at Conference Learning Beyond 2nd 2016, the hosted in CLIP with awarded was which University, Corporate Sberbank planned inautumn2017,hasbeenrescheduled to14March 2018. or topursueCLIPaccreditation. Asecondconference, initially companies have expressed their intention to join EFMD as members 2017,severalCorporate University andEFMDinJanuary Asian with thetitle:“From Awareness toAction” hostedby Pertamina Following theinternationalconference onlearninginASEAN CORPORATE SERVICES INRUSSIAANDASIA the EiPAwards canbefoundonpage20. and discussedtheircasesduringtheconference. Further detailson The EFMDExcellence inPractice(EiP)Awards winnerspresented company representatives. business schools,alternative Executive Education providers and

13 NETWORK SERVICES 14 BUSINESS SCHOOL SERVICES NETWORK SERVICES NETWORK different shapesandtypesofgeneral specialisedmasters. toexchangeopportunities withtheirAmericancolleaguesonthe to theUniversity ofFlorida.Masterprogramme directors hadgreat on MasterProgrammes wentoutsideofEurope forthefirsttime for thesecondtimeinAsia,thisSingapore. TheConference Marketing, CommunicationandAlumniProfessionals tookplace The Conference forInternationalandExternalRelations,PR, Management intheDigitalAgethatattracted100participants. Career Conference Services attheUniversity ofStGallenonCareer countries. Anotherrecord wasbroken withthehighlysuccessful Berlin achieved arecord from attendanceof531participants 58 and Directors GeneralinLjubljana.TheAnnualConference in probably themostsuccessfulatEFMDConference forDeans Standing, co-President, Network(BIEN)was BasicIncomeEarth The sessionon theprecariat, business andeducationby Guy for aglobalsharingofideasontheseissuesamongprofessionals. business responses. EFMDconferences provide adynamicspace of research forsocietalrelevance andimpactdemandsdifferent need todesignnewformsoflearningandengageintypes development featured highintheevent in2017.The portfolio Once again,theimplicationsofDigitalEraonbusinessschool development programmes. There issignificantlearninginalltheconferences andprofessional dynamicinteraction. to businessschoolsinaformatthatsupports co-create excellence newknowledgeandsupport onleadingissues the EFMDmembership.Together, professionals inbusinessschools through the globalsharingofideasandgoodpracticesacross Strong communitiesandnetworksofprofessionals are shaped development and leadership and in programmes 2017. conferences successful highly of avariety organised EFMD EVENTS BUSINESS SERVICES SCHOOLS “ Doctoral Programmes Conference The EFMD Doctoral Programme Programme Doctoral EFMD The solutions for everyone involved in the the in involved everyone for solutions and ideas insights, new offers Conference Management, Germany Education, SchoolofFinance& Frankfurt Degree Programmes &Executive Claudia Bieber, Programme Director, doctoral programmes. their in challenges similar face who colleagues from all around the world, with knowledge and experiences share to platform agreat is It opportunities. networking numerous with complemented are experts renowned with groups work and discussions panel talks, Inspiring programmes. doctoral and research of design conceptual and organisation ”

developing doctoraltalents. are facinginrecruiting, managingand on thechallengesthatbusinessschools Ecole reflected deManagement,participants year. Inthe2017Conference atGrenoble continued togrow this with51participants The DoctoralProgrammes Conference with robots. andalive technologyshowcase participants, them alarge gamificationsessionwithall manynewapproaches,undertook among The Executive Development Conference “ “ Conference Services Career outcome oftheFair. offers were made by recruiters asan impact-driven careers. More than30job entrepreneurship, engagementand The conference focusedonresearch, part candidates andsponsorsattending. early Septemberwith77recruiters, School ofEconomics andManagement Management tookplaceatSolvay Brussels and Conference forDoctorsinBusinessand The secondeditionoftheEFMDJobFair The EFMD Career Services Conference Conference Services Career EFMD The Terry Akitt,IMD, Switzerland challenges we all encounter. and practicies best the discuss but share only to not environment, academic the in professionals career United Kingdom Dominic Prosser, Exeter BusinessSchool, inspiration. and support ofon-going source invaluable an is build can you network The context. your get totally who peers like-minded with face Schools Business and address the unique challenges that to identify opportunity afantastic is An excellent opportunity to meet other other to meet opportunity excellent An ” ”

Under thetheme“Developing andTalent Opportunities forGrowth” countries, inthebroader globalcontextinwhichEFMD isoperating. todevelopa uniqueopportunity synergies betweenawiderrangeof new MiddleEastandAfricaConference. Theconference represents regionalThe twoAfricaandMENA conferences were merged intoa “ 2017 conference Singapore Relations External “ Conference Africa and 2017 East Middle EFMD Johannesburg, SouthAfricawasagreat success. the firsteditionofthisnewconference inGIBSBusinessSchool By meeting the people and seeing the sparks in their eyes when when eyes their in sparks the seeing and people the By meeting Business School, Amsterdam. Pieter Spinder, 2017Conference Speaker from Knowmads Creative practice. daily in shared be can what and together grown be can what to see other each with aconnection to get and world the over all schools) business (and Universities different in happening is what sharing in step important an are ofmeetings kind these that Ithink us. amongst felt energy aclear was generation next to the service in to be wanting and relationship Connection, goal. higher by a driven are education in work who people the that to me clear more even it made it education, in work their about talking are they offers. EFMD that collaboration the values GIBS all, Above capabilities. dynamic raise and disruptions to respond to better shifts geo-economic and geo-political great amidst relevant remain may schools business how on continue school leadership. Beyond this conference, conversations will business of network dynamic already the strengthen and ideas to share opportunities great with met were growth for talent and opportunities developing schools business about exchanges and debates ofthe richness The conference. Africa and East South Africa The University ofPretoria’s Gordon InstituteofBusinessScience, Dr CharleneLew, SeniorLecturer Head:GIBSFaculty Network, It was a great privilege for GIBS to host the 2017 the to host GIBS for Middle EFMD privilege agreat was It ”

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15 BUSINESS SCHOOL SERVICES 16 BUSINESS SCHOOL SERVICES BUSINESS SERVICES SCHOOL Leading inaChangingWorld Theme: Athens, Greece Hosted by ALBAGraduateBusinessSchool, 26–28 March 2017 Conference MBA EFMD Organisations Theme: Kingdom Management School,Sheffield,United Hosted by theUniversity ofSheffield 08–10 March Conference Education 2017 EFMD Entrepreneurship Theme: Faculty ofEconomics, Ljubljana,Slovenia Hosted by theUniversity ofLjubljana, 02–03 February General &Directors Deans for 2017 Conference EFMD EVENTS Entrepreneurship inside LeadinginaWorld ofUncertainty The MBAandHeraclitus

07–09 June Conference 2017 Annual EFMD Doctoral Talents Theme: Grenoble, France Hosted by Grenoble Ecole deManagement, 10–12 May Programmes Conference 2017 EFMD Doctoral Innovation in Business Education Theme: Business, Singapore Management, LeeKong ChianSchoolof Hosted by Singapore University of 06–07 April ProfessionalsAlumni and Communication Marketing, PR, Relations, External and International for 2017 Conference EFMD Theme: Hosted by ESMT Berlin,Germany CombiningTradition and Trends, Technology &Transition Attract, ManageandDevelop

Technology InandOutsidetheClassroom Theme: management educationandresearch Theme: and Business,Leuven, Belgium Hosted by KULeuven, Faculty of Economics 23–24 October Conference Research 2017 Education Higher EFMD Nottingham Trent University, Nottingham, UK Hosted by NottinghamBusinessSchool, 20–22 September Bachelors Programmes on 2017 Conference EFMD Impact andInterdisciplinarity in Finding theRightBalance:

Gainesville, Florida,UnitedStates Administration, University ofFlorida, Business, Warrington CollegeofBusiness Hosted by HoughGraduateSchool of 06–08 December on Masters Programmes 2017 Conference EFMD Management intheDigitalAge Theme: St Gallen,Switzerland Hosted by theUniversity ofStGallen, 22–24 November Conference Services 2017 Career EFMD Talent forGrowth Theme: Johannesburg, SouthAfrica Gordon InstituteofBusinessScience, Hosted by theUniversity ofPretoria’s 08–10 November Conference Africa and 2017 East Middle EFMD and Opportunities Executive Education –Nightmares, Myths Theme: of Management,Milan,Italy Hosted by Politecnico diMilanoSchool 18–20 October Development Conference 2017 Executive EFMD Theme: High Tech &HighTouch: Career Developing and Opportunities Leading theDigitalFuture in Expanding Horizons

“ “ “ This was a valuable conference to meet and collaborate collaborate and to meet conference avaluable was This gave me an overview of where I stand in the job market, market, job the in Istand ofwhere overview an me gave experience The countries. different from universities recruiting with interviews several Ihad event, the Through opportunity! agreat certainly was Fair Job study, the Australia Course Director, BachelorofCommerce, DeakinUniversity, Kerrie Bridson,Director ofUndergraduate Programs and improvement. ofconstant journey same the with colleagues who manage course portfolio and are on (CEIBS), China Accounting, ChinaEurope InternationalBusinessSchool Dr. CharlesJ.P. Chen,ZhongkunGroup ChairProfessor of Europe. in kind ofthis event influential most the become and recruiters as well as students PhD high-profile more attract will it that believe we students, PhD among fair job ofthe reputation growing the With Europe. in students PhD by the better known be to us helps also fair job The positions. lectureship our for candidates suitable identify and world ofthe parts other and Europe from students PhD to meet school our for opportunity agood provides Conference and United Kingdom Feranita FERANITA, PhDCandidate,LancasterUniversity, experience. great and team helpful avery with event well-organised a was it Overall, students. PhD fellow with to network chance the me gave also event The further. myself improve can how I and profile, employer’s future into fit Ican how As a final year PhD student near to completing my completing to near student PhD year As afinal The EFMD@Solvay PhD & DBA in Management Job Fair Fair Job Management &DBAin PhD EFMD@Solvay The ” ” ”

17 BUSINESS SCHOOL SERVICES 18 LEADERSHIP & DEVELOPMENT PROGRAMMES LEADERSHIP & DEVELOPMENT PROGRAMMES DEVELOPMENT & LEADERSHIP Australia, ChinaandRussia. from inhighereducation,with28participants Europe,partnerships University ofHongKong, focusedonEuropean andAsianstrategic The firsteditionoftheAsia-Pacific School,hosted bythe Europe, AustraliaandRussia. from inhighereducationinstitutions. Ithad31participants services Berlin, Germany, focused onthetransformationofprofessional The firsteditionoftheSummerSchoolat Freie Universität Asia-Pacific School. SummerSchoolandtheEFMD-HUMANE the EFMD-HUMANE launchedtwonewinternationalleadershipprogrammes,HUMANE Zealand. Following onthesuccessofWinterSchool,EFMDand fromManagers attracted42participants Europe, AustraliaandNew Winter SchoolforUniversity andBusinessSchools’Senior The 14theditionoftheannualone-weekintensive EFMD-HUMANE of admissionsinrecruitment andalumnirelations. into theirownprofession from theimpactofrankingstokey role The programme gives peopleworkinginadmissionsgreat insights Admission InstituteforNewProfessionals Europe (AINPEurope). For thesecondyear, andEFMDpartnered todeliver the GMAC in-depth discussiononreal cases. dialogue onstrategicdevelopments inbusinessschoolsand and businessschooldirectors. Theprogramme allowshighlevel Strategic LeadershipProgramme forrecently appointeddeans Building onyears ofexperience,EFMDhasdesignedanew managers. and leaders school business of development professional the for skills and knowledge in-depth ways acquiring of offer they events such at place take that learning and networking the Beyond of several new successful highly activities. 2017 in addition the extensively with grew programmes development professional of portfolio EFMD The

“ “ To me it was an excellent and outstanding outstanding and To excellent an was it me and deans other meeting I enjoyed Siegen, Germany Development University of Department, Iris Körver, PhD:HeadofUniversity our university. of strategy the with aligned processes making ofdecision preparation the ofimproving terms in especially work, my daily support perfectly will The presented topics and techniques Universities. ofEuropean managers senior great many so with connected getting and School Winter EFMD year’s this in participating experience Henley BusinessSchool,Africa Jon Foster-Pedley, DeanandDirector, Deans. for Programme Leadership Strategic the I recommend school. ofabusiness dean the as my work to improve to apply methods and ideas numerous Ifound and excellent was lecturers ofthe quality The concerns. common our sharing ” ”

education Theme: China Hosted by theUniversity ofHongKong, 08–13 October School Asia-Pacific 2017 EFMD-HUMANE Greatest Challenges? a key to your Success – and one ofyour Hosted by EFMD, Brussels, Belgium 24–27 October Deans for Programme Leadership 2017 Strategic EFMD Theme: Hosted by EFMD, Brussels,Belgium. 10–11 October Seminar 2017 Advisory EFMD Berlin, Germany Hosted by theFreie Universität Berlin, 27 August–01September School Summer 2017 EFMD-HUMANE Hosted by EFMD, Brussels,Belgium 24–27 April (AINP) Europe Professionals New for Institute Admissions &GMAC EFMD Barcelona, Barcelona, Spain Hosted by UPFUniversitat Pompeu Fabra 19–24 March School Winter 2017 –HUMANE EFMD Strategic partnership in higher in higher Strategic partnership Managing Alumni Volunteers:

“ “ productive learning environment. environment. learning productive and apleasant in individual to every attention paying yet full very was programme The Amsterdam. in university to my home to bring information and about to think a lot me gave they discussions; the and talks interesting the programme, the by impressed I was week. Asian-Pacific my institution! at process change exciting of the stages next the implementing and to work back to going forward Ilooked of colleagues. group diverse agreat, and practices, best and of sharing lots programme, Fantastic sector. our in organisations within change managing and driving also are who leaders other with Berlin in Working School. Summer HUMANE & EFMD the at Education Higher in Transformation University of the Arts, Netherlands University ofthe Arts, Roos Eijsten,Secretary to theBoard, Amsterdam IE BusinessSchool,Madrid,Spain Laura Rojo,Executive Director, Undergraduate Studies, Thank you very much for an inspiring and unforgettable unforgettable and inspiring an for much very you Thank A week full of insights! Deep-diving into Change & Change into Deep-diving ofinsights! full A week ” ”

19 LEADERSHIP & DEVELOPMENT PROGRAMMES 20 EFMD AWARDS EFMD AWARDSEFMD “ stakeholders engagedinexecutive development. in aGlobalFocus SpecialIssueaswellthrough webinarsfor As inprevious years, theEiPAwards winning cases were featured withIBM. in partnership Milano SchoolofManagement,Milano,Italy, on18-20October2017 EFMD Executive Development Conference hostedby Politecnico di and selectedthewinners.Theaward ceremony tookplaceatthe companies, businessschoolsandalternative providers, assessed entries. Thejury, composedof28representatives ofEFMDmember The Excellence inPracticeAward 2017attracted33high-quality EXCELLENCE IN PRACTICE AWARDS The biggest benefit to Mars and CCL in participating in this this in participating in CCL and Mars to benefit biggest The Mars University, Mars,Inc Kristin Colber-Baker, GlobalDirector, LeadershipDevelopment, investment. on return a great been has It competition. the in winners similarly were who organisations other from practice best learn could too we that such conference the in involved to be opportunity the had we Similarly, EFMD. with involved organisations many the for sharing practice best of benefit the for learnings those to package secondly associates, ofour many so for Mars within delivered have we that programme the improve to first things: two to do learnings, those with And partnership. our about years the over gathered had we that learnings the crystallise pause, to stop, opportunity an us gave it that is competition particular (EiP) ”

“Tackling theDiabetes Crisis” Ashridge Executive Education Diabetes UK&Novo Nordisk & Development Ecosystem Journey” Turning VUCAtoAdvantage –TheALP “Nokia AdaptableLeaderProgramme – & Abilitie Nokia &ComplexAdaptive Leadership Development Executive “Cisco GlobalTechnical LeaderProgramme” Cisco &LIW Professional Development “Creating aCulture ofInnovation” Telenor &INSEAD DevelopmentOrganisational “Filling theSeniorLeadershipPipeline” Mars &CenterforCreative Leadership (CCL) Talent Development

involved inWorking withNationalSecurity” ofhowaBusinessSchoolgot “The Story BusinessSchool & BINorwegian ArmedForcesNorwegian StudyCenter Development Ecosystem Wealth” “Enabling Positive Futures atOldMutual Old MutualWealth &Accelerance Development Executive Transformation Journey” “The EngagementManagement Capgemini &University Professional Development “Developing LeadersofGrowth Companies” Business School ANZ &University ofSouth Australia DevelopmentOrganisational “PwC: MyWay –ChoosetoGoForward” PricewaterhouseCoopers &PWCMyWay Talent Development

a leadingjournalfrom theEmeraldportfolio. in seven management-related subjectareas –eachsponsored by 12th issuewere announcedinApril2017.TheAwards were made EFMD andEmeraldattracted120submissions.Thewinnersofthe The AnnualOutstandingDoctoralResearch Awards sponsored by OUTSTANDING AWARDS RESEARCH DOCTORAL

“ one oftheODRA winners. Warwick, UnitedKingdom, Haley AllisonBeer, theUniversity of with! academia in my career begin to news exciting what Award, Research Emerald/EFMD Outstanding Doctoral I am honoured to receive the 2016 the to receive honoured I am

”

21 EFMD AWARDS 22 EFMD AWARDS EFMD AWARDSEFMD Case Writing categories of the 2016 Competition were announced at the Annual Conference in Berlin. in Conference Annual the at announced 2016 were the of categories Competition 2017. Telmo, in San seventeen was added the under Internacional by winners Instituto The sponsored eighteenunder categories. A new category, “Continuous Improvement: The Journey to Excellence”, 2017, in records all submitted beaten cases again has 400 with Competition Writing Case The CASE WRITING COMPETITION Supply Chain Management Chain Supply as apossiblegrowth strategy” “UBS: AcquisitionofCommerzbankAG School – Groupe ESC Toulouse bySponsored Toulouse Business Finance and Banking Showdown” Two Generations:TheOtsukaFamily “Conflicting BusinessApproaches of Beirut of University American Business, of School Olayan S. by Suliman Sponsored Family Business “Scytl” Lyon by EM Sponsored Entrepreneurship Responsibility withEinDollarBrille” BauerGroup:“Martin CorporateSocial bySponsored Kedge Business School Corporate Social Responsibility Retrench orDoubleDown” “Adidas Russia/CIS andtheRussianCrisis: School Business by Kedge Sponsored

Industry” System: ANew Journey in theHealthcare “Data Analytics atAlexandraHealth ofSchool Business Administration Diego, San of by University Sponsored Responsible Leadership Leadership”Cyrus Mistry Leadership &LeadingtheTata Group: “Leading theTata Group: Ratan Tata School Business by Curtin Sponsored Opportunities and Issues Management Indian through internationalstrategy” “Caverton: Hovering intoAfricanmarkets (CEIBS): School Business International Europe by China Sponsored African Business Cases “ABB &GALINDO: Winningthepeace” School Business by Montpellier Sponsored Issues and Practices Managerial Euro-Mediterranean Stakeholders” “CNOOC EngageswithCanadian Cases China of Platform Global The bySponsored ChinaCases.org, Global ChineseEmerging Competitors

in GlobalInnovation” “GE ChinaTechnology Center: Evolving Role by ESMT Sponsored Bringing Technology to Market Market InMenaRegion” Reinvented TheTraditional Ready-To-Wear Retailing Power-House: HowDiamantine “From OldFashion To AFast-Fashion Qatar in Paris by HEC Sponsored BusinessMENA Cases Mexico, Colombia,Peru, andChile“ “The Pacific Alliance:MythorReality? de Colombia Externado by Universidad Sponsored Business Cases American Latin Project InTransition” “Future For Children: ASocialEnterprise by IMD Sponsored Inclusive Business Models

Philippines RuralBankingSystem” “Bpi GlobeBanko:ReshapingThe by Sponsored Climate-KIC Pipelines, Innovation the Integrating months” non-hazardous wastetolandfillinten “Unilever production clusterinTula: zero by Sponsored Climate-KIC Systems, Production Sustainable business modelfore-scootersinGermany?” “unu GmbH:Sharingiscaring–asuitable by Sponsored Climate-KIC TransitionUrban Challenges,

23 EFMD AWARDS 24 DEVELOPMENT SERVICES DEVELOPMENT SERVICESDEVELOPMENT SURVEYS AND STUDIES EU CO-OPERATION:EU developments. analysisofspecific educational further policies reports, and briefings, assessmentofnational reform delivered toassisttheECwithcountry France, GermanyandPortugalwere Belgium (Flanders),Bulgaria, Romania, from experts ofsixcountry The expertise policies). of LondonandKea Consultancy (sport the InstituteofEducation oftheUniversity the DanishInstituteofTechnology, EIESP, are partners and budget.Otherconsortium and submitmethodology, workprogramme withthemostrelevantpartner expertise decideonthe partners the EC,consortium competition. For eachrequest received by contract forwhichthere isno re-opening of forasecondframework (lead partner) withEcorys UK EFMD isalsoapartner limited numberofpartners. were re-opened forcompetitionwitha Under thisframeworkcontractrequests Institute ofEducation, University ofLondon. Education andSocialPolicy (EIESP)andthe theEuropean(lead partner), Instituteof iswith UK The firstconsortium Ecorys training, culture, policies. youth andsport and Culture inallareas ofeducation, assignments toassistmainlyDGEducation EC requests studiesandother services, multiannual contracts.Underthese,the European Commission(EC) through two thatprovidetwo consortia tothe services EFMD continuestobeacore in partner ad hoc requests for

Employment, SocialAffairsandInclusion. for theEuropean Commission’s DGfor prepared inanassignment by twoexperts in Luxembourg andinFrance were also reports onAdultEducationCountry policies by theEuropean Council. 2020 strategyandrecommendations made achieve theobjectives setunder theEurope developments andmeasures taken to the Commissiontwiceayear onpolicy requirements forMemberStatestoinform of the“European andthe Semester” The assignmentisplacedinthecontext

management research becomesaforce forabetterworld. ecosystem tomeetthevisionofafuture where businessand and debateontheprospect ofcreating aresponsible research www.rrbm.network executive briefingoftwopagesis available ontheRRBMwebsite refining theinitialconcepts.Afullpaperoffifteenpagesandan of85co-signerswhocontributedto the papergainedsupport After asix-monthconsultationperiodfrom April toSeptember2017, and specific actions by different segments of the research world. The paper includes seven principles to guide responsible research could contribute to better business and, ultimately, a better world. A position paperproposed how business and management research at theUniversity ofNotre Dame,United States. Associate Director, andAnneTsui, AdjunctDistinguishedProfessor formed inearly2015attheinitiative ofUlrichHommel,EFMD PRME andtheAspenInstituteBusiness.Thecommunitywas ofEFMD,countries. Ithastheinstitutionalsupport AACSB,UN in five disciplinesat23university-based businessschoolsin10 organisation initiallydeveloped by agroup of24leadingscholars research inthebusinessandmanagementdisciplines.Itisavirtual RRBM inspires, credible encouragesandsupports anduseful (RRBM) BUSINESS MANAGEMENT AND FOR RESEARCH RESPONSIBLE . TheNetworkinvitesdiscussion,endorsement

25 DEVELOPMENT SERVICES 26 DEVELOPMENT SERVICES DEVELOPMENT SERVICESDEVELOPMENT – continuedtoscaleuptheirengagementactivities. PRME’s networks–theChapters,Working Groups, andChampions next stepsfortheinitiative. reflection ofPRME’s decadeofachievements, whilefocusingonthe researchers, students,businessleadersandUNofficialsforalively included arecord gatheringofacademicexecutives, faculty, took placeon17-19JulyatFordham University inNewYork City, Management Education –10Years ofPRME.Theevent, which and preparation forthe2017GlobalForum forResponsible The firsthalfofthe year waslargely focusedonplanning Compact. and aligningacademicinstitutionswiththeworkofUNGlobal drawing attentiontotheSustainableDevelopment Goals(SDGs) skills neededtobalanceeconomicandsustainabilitygoalswhile management schoolstoensure they provide future leaderswiththe Working through SixPrinciples,PRMEengagesbusinessand institutions. education higher management-related and UN the between relationship organised largest the become has PRME worldwide, signatories over 650 with initiative avoluntary As PRME institutions, whilegrounding thevalues of PRME are disseminated tohighereducation means through whichtheSixPrinciples of PRME Chaptersremain thestrongest the secondhalf of2018). available matrix(afulllaunchisexpectedin while populatingtheresults onapublicly how schoolsengagewitheach SDG toolthatwillshowcase This isanimportant powered by the HaubSchoolofBusiness. piloting ofthePRMESDGDashboard, groupPRME Champions was the successful oftheSDGs.Akeysupport outcomeofthe collaboration andthoughtleadershipin successfully builtafoundationtoincrease 2016-17 cycle, with29schoolshaving The PRMEChampionsconcludedthe management education. equality andnewtrends inresponsible related topoverty, climate change,gender were alsoannounced,includingtitles of PRME.Newresources andpublications and anaction-basedfocusonthevalues previous years ofworkcreating research Education Research Conference, builtupon as the4thResponsibleManagement Working events, Group-supported such publications thatadvanced theSDGs. provided leadingresearch andrelevant PRME’s seven issue-area Working Groups PRME’s 10thAnniversary. also referencing thethemeforyear: the SustainableDevelopment Goalswhile respective Chapters.Eachevent focusedon Regional Meetingswere held andhostedby Over thecourseofyear, 12PRME contexts. responsible managementeducationinlocal AnnualReportand2018Outlook.pdf ( and2018Outlook 2017 AnnualReport For more information,seethe averaging 12%. schools joinedPRME,withglobalgrowth In termsofquantitative growth, 78new published onAIM2Flourish. Wikirate project anddozens ofnewstories Breakthrough Innovation Challenge,the in 2017,suchasthecompletionof a majorpriorityandsawnotablesuccesses Engagement withstudentscontinuestobe www.unprme.org/resource-docs/2017

countries and ranks each country on its currentcountries and ranks each country state and the “gaps” The GAP Frame is a website that hosts information on 197 Business School Lausanne in initiated Switzerland. by GRLI partner the launchof the GAP FrameGRLI also supported (gapframe.org) identify development needs and track progress. competencies and three domains of action. It can be used to that builds a profile around five responsibleleadership Leadership (CARL), a simple on-line assessment (carl2030.org) introduced to the Competency Assessment for Responsible across the globe. During the event were participants also Responsible Leadership and brought together 150 speakers from The event was presented Luthuli by the CentreAlbert for Science in Johannesburg, South Africa. Responsible Leadership at the Gordon Institute of Business In March, International Conference GRLI co-hosted the fourth of change for people, the planet and prosperity. teaching and learning thatwilldeliver on the need for transformative of academic institutions discuss and prototype new methods of education. Atmakers these meetings, deans and directors in tertiary designed as a high-levelDeans’ Cohort, collaboration for key decision after this meeting, GRLI announced the establishment of a Shortly together deansfrom around 40 institutions across the world. collaboration wastitled “Deans as an Agent of Change”. It brought Conference in New Orleans, United States, in February. The The GRLI hosted a meeting at the AACSB International Deans’ PRME Global Forum in July. programmes and progress of the PRME and to prepare for the group. to take The meeting was an opportunity stock of the co-facilitated the third meeting of the2016/17 PRME Champions in The Bled, Slovenia,year started in January, where GRLI events initiatives. and platforms, of range a wide in participation its through gene” responsibility global the “activating on focussed partnership GRLI the of 2017During work the GRLI

use, health and biodiversity. structural resilience, employment, resource on measurements such as public finance, between, compared with the ideal state hosted by Dean JuliaChristensenat and Directors’ meetinginCanada, Cohort This wasfollowed by aspecialDeans Scotland (www.transformationsforum.net). Forum attheUniversity ofDundee in establishment ofanSDGTransformation director inthe oftheGRLI,participated In September, the executive JohnNorth, of theGuardians. Stellenbosch) waselectedthenewChair the board andArnoldSmit(University of of HumanRelations)waselectedchair Guardians. Claire Maxwell(OasisSchool a newchairperson,board andgroup of Following theAGM,GRLIannounced Sustainable Development Goals. working topromote the17UnitedNations Prizes thathighlightedbusinesses presentation oftheinauguralFlourish Enterprise”. Theforumincludedthe Thematically titled“Discovering Flourishing at theCaseWestern University. Reserve Business asanAgentofWorld Benefit conjunction withthe4 Cleveland, Ohio.TheAGMwasheldin Momentum (AGM)meetingwasheldin In June,theGRLI’s AllGathering business schools. developing analternative ratingfor a diverse group worked ofexperts on place inNice,France, duringMay. Here to anintensive workshopthattook business schoolrankingsasaprecursor collaboration (vCollab)onthefuture of In April,theGRLIhostedavirtual th GlobalForum for

across theglobe. to catalysegloballyresponsible leadership planned forthemovementopportunities activities fortheyear aheadwithmore call willformthebasisofGRLI’s October. TheGlobalResponsibilityNow global conference inBrussels,Belgium, the InternationalLeadershipAssociation’s of the“GlobalResponsibilityNow”callat theGRLIlaunched thefirst Cohort, version With inputsfrom theDeansandDirectors’ University ofGuelph. the CollegeofBusiness&Economics, Sustainabiliy Literacy Tools & Community Sulit e

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.org

27 DEVELOPMENT SERVICES 28 INTERNATIONAL PROJECTS INTERNATIONAL PROJECTS collaborations between European business schools and Latin American universities. American Latin and schools business European between collaborations the strengthening II, –UE Cuba Expertos de Intercambio and FORINT of implementation the with strengthened were America Latin in activities building capacity EFMD activities. its of depth and scope geographic the expanded department 2017, In systems. Projects International EFMD the education higher of modernisation and innovation and entrepreneurship, learning, and teaching for ICT education, higher in assurance quality and building capacity of fields the in projects international other and Union by European funded projects of portfolio awide managing currently is EFMD • • • • • participating Cuban universities. The participating of creativitylaboratories inthesix visitfor thedevelopmentan expert entrepreneurship andcreativity and EFMD organisedtwoworkshops on an expansionofFORGEC. Cuba–UEII,aprojectbuilt as Expertos the projectProgramaIntercambio de consolidated withthefirstactivitiesof management development wasfurther EFMD’s roleinLatinAmerican ofHigherEducation. Cuban Ministry together withrepresentatives ofthe during the2017EAIEAnnualConference, effective co-operationwithEurope”, Business Education: bestpracticesfor EFMD presentedthesession“Cuban internationalisation. on of theirself-assessmentreport HEIsforthepreparation partner intheLatinAmerican from EUexperts EFMD coordinatedfourmentoringvisits and internationalrelationsdirectors. Cuban andPanamanian seniormanagers Europe andCuba,eachgathering40 Assurance andInternationalisationin EFMD organisedsixseminarsonQuality • education inthetwocountries. assurance mechanismsfortransnational project forthedevelopment ofquality place intheframeworkofTNE_QA University, inGeorgia.Thevisitstook University andtheAkakiTsereteli State University ofArmenia,theCaucasus pilot accreditationvisitsintheFrench EFMD organisedthePeer-Review for AdministrationDevelopment, inSpain. Conference oftheLatinAmericanCentre ofHigherEducation inthe Ministry project wasshowcasedby theCuban • • • institutions. African ministriesandhighereducation representing DGResearchandInnovation, was attendedby ahigh-level audience for theAfricanregion.Themeeting management educationasapriority Director AlfonsSauquetexplained session inwhichtheEFMDAssociate place inBrussels,EFMDorganiseda High Level Policy Dialoguethattook During theMeetingofEU-Africa evaluation oftheprojectactivities. charge ofthequalitymonitoringand Angola andMozambique. EFMDisin UDI-A project,anEUfundedprojectin of Africanhighereducationthroughthe EFMD steppedintothemodernisation American University ofArmenia. Akaki Tsereteli StateUniversity andthe the projectclosingconferencesat State University, Georgia)andduring Innovation Conference(AkakiTsereteli Higher Education-New Technologies and impact assessmentduringthe2017 of EFMD presentedtheimportance • • • EFMD presentedglobalpractices Accreditation CouncilofPakistan. with theNationalBusinessEducation EFMD strengtheneditscollaboration Toolkit, available infive languages. contributed tothecreationofcourse thinking inhighereducationand promoted theapplicationofdesign the D-THINKproject,aprojectthat of and theFinalQualityAssurancereport EFMD co-authoredtheEvaluation report large companiesandSMEsgathered. where 400representatives ofEUHEIs, by theEuropean CommisioninBrussels, the University-Business Forum organised [email protected] project partners academic andcorporatetrainers.The e-leadership skillsdevelopment for 3.0 project,aprojectthatsupports dissemination event oftheLe@d Conference inMilan,hostedthefinal The 2017EFMDExecutive Development the event. of Pakistani businessschoolsattended amongwhich100deans participants, and Divergence”. Approximately 800 and itsContext:Points ofConvergence Annual Conference“BusinessEducation accreditation duringtheNBEAC2017 and trendsforqualityassurance

29 INTERNATIONAL PROJECTS 30 INTERNATIONAL PROJECTS INTERNATIONAL PROJECTS CAPACITY BUILDING partners intotheproject.partners top Cubanuniversities. EFMDalsoorganised theinclusionofnew to provide trainingandother capacity-buildingactivitiesintheeight management schoolsanduniversities co-ordinates ofEuropean aconsortium Cuba –European UnionII project EFMD hasbeenawarded afour-year II –UE Cuba Expertos de Intercambio de Programa international accreditation. provides fortrainingsonqualityassuranceand experts co-ordination andmanagementoftheproject andalso between thetworegions. EFMDisincharge oftheoverall capacities oftheLatinAmericanHEIsandstimulateexchanges and universities. Theaimistostrengthen theinternationalisation education institutions(HEIs)withsixEuropean businessschools brings togetherseven CubanandtwoPanamanian higher three-year EU-fundedproject which EFMD istheleaderof universities American Latin and schools business between European co-operation FORINT: Strengthening Programme Exchange ofExperts . EFMD

a consortium offourAfricanandfive a consortium European UDI-A isatwo-year EU-fundedproject based on Innovation – Africa and Development University UDI-A: assessment totransnationaleducation. in theCaucasianregion andintroduced theconceptofimpact steps. Through theproject, visibility EFMDgainedimportant two regional conferences toshare theresults anddefinefuture The project endedwithpeerreview visitsandtheorganisation of of criteria,procedures andmethodologicalrecommendations. theprocesstwo countries.EFMDsupported through thepublication quality assurancemechanismsfortransnationaleducationinthe agencies from ArmeniaandGeorgia inthedevelopment ofspecific The TNE_QAproject assistedHEIsandnationalqualityassurance Georgia and in Armenia transnational education of recognition and Promoting quality TNE_QA: well asoftheco-ordination oftheexternalevaluation. the qualitymonitoringandevaluation oftheproject activities,as intheproject:participating AngolaandMozambique. EFMDleads (CADI). Four CADIswillbeestablishedinthetwoAfricancountries operation oftheCentres ofAcademicDevelopment andInnovation the socialandeconomicchallengesoftheirregions through the institutionstoaddresscapacity ofthepartner Theprojectpartners. objective istobuildthe

sustainability of theproject. by EFMD, that provides directions for the future activities and the Final Quality Assurance report, co-ordinated and authored e-leadership skills. Theproject concluded with the publishing of to designand deliver on-line training programmes on strategic corporate and academic trainers [email protected] Academy supported skills e-Leadership for practices and Resources Educational Open Academy: [email protected] schools and2,000companies. fromparticipants 89countries,880 universities andbusiness delivered theprizes tothewinners.Thiseditiongathered was amemberoftheevaluation andawards committeeand 22nd worldeditionofthe GlobalMarketing Competition.EFMD ESIC, in collaborationwithEFMDandSantander, organised the Competition Marketing Global GLOBAL COMPETITION MARKETING ICT FORLEARNINGANDTEACHING:

Design Thinking uses methodologies applied in the design industry Design Thinking uses methodologies applied in the designindustry D-Think: to applied training and Design Thinking education INNOVATION and methodologies. academic and corporate world interested in exploring this concept higher education and EFMD built credibility with trainers from the methodologies. The topic of Design Thinking is currently a trend in professionals interested in integrating Design Thinking into their experimentation. D-Think is aninnovative digitalcoursefor education to solve ill-defined problems through empathy, needs analysis and

31 INTERNATIONAL PROJECTS 32 EFMD PUBLICATIONS explained why EFMD waslaunching directors David Schader Asch andMartin In theJune2016editionof EOCCS with learning ofonline quality the Assessing community tocounteremerging shadows find agrandervisionofhope, changeand Johan Roos.Businessschoolsstillneedto management educationmarket, says Do notbelulledby today’s strong shadows the in light Casting technology ineducation accommodate theincreasing role of schools andcorporationsmust Santiago Iñiguezexplainswhybusiness blended is future The Issue one highlights included PUBLICATIONSEFMD Practice Awards.” in “Excellence and Learning” Age “Digital on supplements special two and of editions Three Global Focus Focus Global Global Focus were published in 2017 (in English and Chinese) 2017 Chinese) in and English published were (in

, 50 www.globalfocusmagazine.com EFMD Global Focus_Iss.2 Vol.11 success a path to women: Working that willcontributetothemanagementoftheircareersuccess offer womenanumberofpracticaltools,ideasandsuggestions long waytogosayFionaDentandVikiHolton.Herethey struggle forequalityincareerprogression.Butthereisstilla Women haveundoubtedlybeguntomakeprogressintheir to utilisethescheme America the firstbusiness schoolinNorth Business, Saint Mary’s University, Canada, herald theimpactofSobey Schoolof describe howtheBSISprocess hashelped Patricia BradshawandErin ElaineCasey purpose with impact Creating Issue two highlights included in practice Phase andshowshowEOCCSisworking on EOCCS’progress, lessonsfrom itsPilot and AntoniaLütgens provides anupdate AnneSwanbergby Stephanie Lambert, EOCCS ManagementTeam represented first issuesof System.Inthis Online CourseCertification EOCCS –theEFMDGlobalNetwork

Global Focus in2017,the T SURVEY RESPONDENT always questioningifIamgoodenough – doubtingmyownachievementsandIwas I havebeenthebiggestbarriertomycareer status/778145805035266048 Source: https://twitter.com/guardian/ woman inFTSE100” “GSK makesEmmaWalmsleymostpowerful and ThomasHolgersson by Lynn Roseberry, Robyn Remke, Johan Klæsson Source: 2016articleinEFMDGlobalFocus a leadershipperspective.” gendergapinEuropeanBusinessSchools: “The gender-decision-making/index_en.htm http://ec.europa.eu/justice/gender-equality/ Source: 2016datafromEU companies acrosstheEuropeanUnion(EU)” members ofthelargestpubliclylisted “Women accountforjust23%ofboard female-ceo-pipeline-leadership/ http://money.cnn.com/2015/03/24/investing/ Source: CNNMoneyanalysisfrom2015data by women" at S&P500companiesintheUSAareheld "Only 14%ofthetopfiveleadershippositions challenges: of recentchangeandsometheremaining (and articles)belowillustrateafewexamples in reachingseniorexecutiveroles.Theheadlines least thedifficultiesmanywomenexperience be ratherprematureaschallengesremain,not as business-relevantissues. into thetalentpipelineareincreasinglyperceived getting morewomentoboardlevelaswell the caseinrecentpast.Wealsoseesignsthat discussed atboardlevel,whichcertainlywasnot Diversity andgenderissuesarethesedaysoften However, congratulationsallroundwould has changedforwomeninbusiness. he past10yearsillustratejusthowmuch

how many challenges remain. how manychallengesremain. CEO stillmakesheadlinenewsandthisindicates GlaxoSmithKline. Tobe,ornottoafemale as chiefexecutiveatpharmaceuticalgiant highlights theappointmentofEmmaWalmsley September 2016)oftheUK’sGuardiannewspaper, women back,whichwecall“derailers”,are: found outthatthemainbarriershold and barriersforwomen’scareersuccess.We the interviewsidentifiedarangeofenablers in businesstoday. a research study into the real-life issues for women well asintheMiddleandFarEast. India, NorthAmericaandAustraliaas Canada, it would also betrueacrosstherestofEurope, careers, whichwecalled“multipliers”,including: And, this is not just in the UK business world, And, thisisnotjustintheUKbusinessworld, The finalexample,fromtheTwitterFeed(in • • Havingtocompromiseyourvalues • Beingasquarepeginroundhole • Ageism • Negativestereotypingofworkingmothers • The“oldboys”network • Unsupportiveboss • Lackofgoodchildcare • • Lackofconfidenceandself-belief The survey(ofaround1,400women)and In ourworkatAshridgewerecentlyundertook • Thepowerofhavingamentor • Havingacareerplan • Demonstratingenergyandenthusiasm • Workinghardandwithpersistence • Developinggoodcommunicationskills • Buildingagoodnetwork • Havingagoodboss We alsoidentifiedthekeyenablersforwomen’s • Blatantdiscrimination Staying in family members Sacrificing careerforchildrenorother Working women: apath and to success|FionaDent Viki Holton potential threat totheircurrent supremacy countries ahappy huntingground ora growth ofbusinesseducationinemerging business schoolswillfindtherapid Hamid BouchikhiwondersifWestern Threat or opportunity? multiple aspectsofperformance business schoolsneedtotake intoaccount Hanappi Egger describeshow, andwhy, and promotion practices?Edeltraud Is ittimeforachangeinfacultyrecruitment Assessing academics’ performance one job or organisation for too long

51 2017” award winningcases. the “Excellence inPractice supplement showcased The secondspecial future of work. digital disruptiononthe in depthattheimpactof corporate memberslooked name. Agroup ofEFMD Group underthesame by EFMD SpecialInterest in-depth analysisconducted Learning,” publishedinJune,drew onthe The specialsupplementon“DigitalAge Global Focus Supplements Special economy andaresource-constrained world complex interdependent systemsinaglobal collaborative leaderrequired forthe Sriven Naidudescribesanewtypeof leaders collaborative Developing school tensions involved inleadingabusiness to adopta‘paradox’ approach towards the Marianne Lewisargues thatdeansneed schools ofbusiness Paradoxes forward toanother20years ofopportunities celebrate twodecadesofEQUISandlook Ulrich HommelandMichaelOsbaldeston Building on20years ofEQUISsuccess Maintaining the gold standard Issue three highlights included

by Howard Thomas Volume 2 Education Challenge Africa: TheManagement development and growth. responsible andsustainable business download and aims toenableandpromote The publication isavailable as afree of free education/trainingmaterials. Business portfolio EFMD’s Sustainable latest additionto October, isthe published in The newguidebook, by JonathanT. Scott Successful Business Guide to Buildinga The Entrepreneur’s gap across Africa. seek to close the management education and government stakeholders, as they management educators, other business perspectives and interactions between process,face-to-face interview explore the The authors, through a fine-grained, the potentialforeconomicgrowth. demand formanagerialskillstoleverage continent onthemove, withaparallel,huge is ofAfricaasaglobalgrowth region anda African continent.Thecommonperception of managementeducationacross the challenges involved growth in the important and examiningthe at understanding aimed and GMAC, sponsored by EFMD of thetwovolumes, This isthesecond

of allrespondents. success compared tolessthanhalf(41%) that they cancontributetotheschool’s majority (82%)ofengagedalumniagreeing alumni toabusinessschool,withtheclear ofengaged underline theimportance engaged alumni.Thestudyresults as LinkedIn andFacebook are themost as thefrequent usersofplatformssuch their alumnirelations on socialmediafor need agreater focus that businessschools worldwide. Itrevealed almost 2,500alumni study questioned The AlumniMatters collaboration withEFMD by CarringtonCrisp in studies Alumni MattersandBusinessofBranding business. failure factorsinvolved inrunningasmall that examinedthenumerous successand of afour-year studyby JonathanScott Successful Businesswastheculmination the Entrepreneur’s GuidetoBuildinga owners andoperatorsin14countries, Based onadvice from hundreds ofbusiness

33 EFMD PUBLICATIONS 34 EFMD MEMBERSHIP Portugal University ofMinho,SchoolEconomics andManagement, Malaysia University ofMalaya, Faculty ofBusinessandAccountancy, University ofLeicester, School ofBusiness, and BusinessScience, Universidad InternacionaldeLaRioja(UNIR),Faculty ofEconomics FacultadUniversidad DiegoPortales, deEconomía yEmpresa, Chile Universidad delDesarrollo,Faculty ofBusinessandEconomics, L MThaparSchoolofManagement, Thapar InstituteofEngineering&Technology University, (TIET) Riga Technical University, Management, University ofLondon,SchoolBusinessand Queen Mary OBS BusinessSchool, Management StudiesandResearch, N. L.DalmiaEducational Society, N.L.DalmiaInstituteof Sciences andManagement, Nicolaus CopernicusUniversity inToruń, Faculty ofEconomic Nanjing AuditUniversity, SchoolofInternationalAudit, MacEwan University, SchoolofBusiness, Indian InstituteofManagementIndore, INDEG-ISCTE Executive Education, IBMEC, Hofstra University, Frank G.ZarbSchoolofBusiness, Groupe ESCClermont, Academic NEW FULLMEMBERS Germany Berlin, Assembly, General 2017Annual June in EFMD the at ratified were members following The EFMD MEMBERSHIP Brazil United Kingdom Spain France Spain Latvia Poland Portugal India India India Canada United Kingdom United States China

Chile

University ofMünster, SchoolofBusinessandEconomics, O.P. Jindal GlobalUniversity, Jindal GlobalBusinessSchool, Howard University, SchoolofBusiness, Fundación Universitaria CEIPA, SchoolofManagement, Chitkara University, ChitkaraBusinessSchool, and BusinessAdministration, American University ofCentralAsia (AUCA), SchoolofEconomics Agrarian University ofHavana “Fructuoso Rodríguez Pérez”, Academic NEW AFFILIATEDMEMBERS The CommercialInternationalBankofEgypt (CIB), Telkom Indonesia, Steelcase S.A., LafargeHolcim, FAURECIA Group, Services Erste GroupBankAG, Corporate NEW FULLMEMBERS Washington University, OlinBusinessSchool, University ofSplit,Faculty ofEconomics, Management, University ofScienceandTechnology ofChina,School Administration, University ofNavarra, SchoolofEconomics andBusiness China France Switzerland Spain Indonesia Austria France Kyrgyz Republic United States Croatia India United States Egypt Colombia Germany Cuba India 88 9 and BusinessAdministration, Universidad Panamericana, CampusMexico, SchoolofEconomics Department, Universidad Iberoamericana,CampusMexicoCity, Business Studies &Faculty ofIndustrialEngineeringandTourism, Universidad deHolguín,CenterofOrganizationalManagement Territorial Management, of Economic Sciences&StudiesCenterforEntrepreneurialand Universidad deCamagüey IgnacioAgramonte Loynaz, Faculty Management Studies, Abreu”deLasVillas,Centerof Universidad Central“Marta United States The GeorgeWashington University, SchoolofBusiness, Management &GraduateSchoolofManagement, Ritsumeikan AsiaPacific University, CollegeofInternational 1 2 countries members Mexico Cuba Central andSouthAmerica Cuba North America North Mexico Mexico 83 54 Japan

Cuba Europe Africa 35 529 28 Middle East NEW ASSOCIATEMEMBERS Management Switzerland, ABMS OpenUniversity ofSwitzerland Academic Entrepreneurship (MBSC), The MohammedBinSalmanCollegeofBusinessand International ManagementSchoolGeneva (IMSG), Institute ofManagementTechnology-Hyderabad, Business ScienceInstitute, 1 46 Asia 37 Australia Oceania- Saudi Arabia Switzerland Luxembourg ® , ABMS Academy of Business , ABMS AcademyofBusiness India Switzerland

35 EFMD MEMBERSHIP 36 EFMD MEMBERSHIP Institute ofManagementandTechnology (IMT)Ghaziabad, China Beijing Jiaotong University, SchoolofEconomics andManagement, AIM –AsianInstituteofManagement, Academic TO FULLMEMBERSHIP TRANSITION FROM AFFILIATED EFMD MEMBERSHIP Saint Paul EscoladeNegócios,Faculdade SaintPaul, Management Development Institute,Gurugram, KAIST CollegeofBusiness, University of Canterbury BusinessSchool, University ofCanterbury Business (OYA GSB), Universiti UtaraMalaysia, Othman Yeop Abdullah GraduateSchoolof Universidad ESAN, ESAN GraduateSchoolofBusiness, Universidad delPacifico, SchoolofBusiness, Graduate SchoolofBusiness, The University oftheWest LokJack Indies,St.Augustine, Arthur Malaysia Korea Trinidad and Tobago

Philippines New Zealand Peru

India Brazil Peru India Academic TO FULLMEMBERSHIP TRANSITION FROM ASSOCIATE Business, Prof. David Saunders, Dean,Queen’s University, SmithSchoolof Mazars, Prof. LaurentChoain,ChiefPeople andCommunicationOfficer, NEW HONORARY MEMBERS THA-Triple HelixAssociation, Peter Drucker SocietyofAustria, Emerald Publishing, NEW RECIPROCALMEMBERS Kazakhstan Nazarbayev University, GraduateSchoolofBusiness, Academic TO AFFILIATEDMEMBERSHIP TRANSITION FROM ASSOCIATE Moscow SchoolofManagementSKOLKOVO, France Canada United Kingdom Italy Austria Russia

AIA LeadershipCentre, Corporate University ofTechnology Sydney, UTS BusinessSchool, University ofMontenegro,Faculty ofEconomics, University ofChile,SchoolEconomics andBusiness, Norway University CollegeofSoutheastNorway, SchoolofBusiness, Indonesia Universitas SebelasMaret,Faculty ofEconomics andBusiness, Sociales, Universidad ORT Uruguay, Facultad deAdministración yCiencias The University ofNewcastle, NewcastleBusinessSchool, United Kingdom GordonUniversity,Robert AberdeenBusinessSchool, PSG InstituteofManagement, BredaUniversity ofApplied Sciences, NHTV Loyola InstituteofBusinessAdministration, IAE dePoitiers, Université dePoitiers, International GraduateCenter, Hochschule Bremen-CityUniversity ofAppliedSciences, Harbin InstituteofTechnology, SchoolofManagement, Academic NEW FULLMEMBERS Assembly. General Annual EFMD 2018June in the at Copenhagen in ratified Trusteesof and Board by the to approved be are members new following The MEMBERS TO BENEW RATIFIED UBS AG, Deloitte University EMEA, Switzerland Uruguay Thailand Belgium Germany India France The Netherlands India Montenegro

Chile China Australia

Australia Concordia University, John MolsonSchoolofBusiness, Academic NEW AFFILIATEDMEMBERS Poland APUI-Association ofPolish Universities forInternationalization, NEW RECIPROCALMEMBER University ofAucklandBusinessSchool, Science, Sultan QaboosUniversity, CollegeofEconomics andPolitical S.P. Jain InstituteofManagement&Research, Institute ofPublicEnterprise, Academic TO FULLMEMBERSHIP TRANSITION FROM AFFILIATED Monarch BusinessSchool(UGSM), Academic NEW ASSOCIATEMEMBER United States Washington StateUniversity, CarsonCollegeofBusiness, University ofToronto, RotmanSchoolofManagement, United States University ofMiami,SchoolBusinessAdministration, Mount Royal University, BissettSchoolofBusiness, Oman India Switzerland Switzerland New Zealand India

Canada Canada Canada

37 EFMD MEMBERSHIP 38 EFMD GOVERNANCE EFMD GOVERNANCE 22 15 8 1 23 16 9 2 10 17 3 as of December 2017 December of as 18 11 4 19 12 5 20 13 6 21 14 7 5. 4. 3. 2. 1. Eric Cornuel Director General&CEO Southampton, UnitedKingdom and CEO(Malaysia), University of Rebecca Taylor, Vice President Russia, Russia Corporate University, Sberbankof Valery Katkalo, Vice President Heineken N.V., TheNetherlands Chairman oftheExecutive Board of President,EFMD Honorary Former Gerard van Schaik President Honorary Richemont SA,Switzerland Committee, Co-Chairman ofRichemontStrategic Alain DominiquePerrin President

Compagnie Financière

Dean,Sberbank Pro Vice-Chancellor

7. 6. 15. 14. 13. 12. 11. 10. 9. 8. Thomas Bieger, Italy Business School,University ofBologna, Massimo Bergami, Administration, Keio University, Japan School, GraduateSchoolofBusiness Hirokazu Kono, Institute ofManagement,Philippines Jikyeong Kang, China Dipak Jain, Hungary University ofBudapest, Corvinus Faculty ofBusinessAdministration, Agnes Hofmeister, in Ifrane,Morocco Administration, AlAkhawayn University Academic Affairs,SchoolofBusiness Wafa ElGarah, Communication Officer, Mazars, France Laurent Choain, France Frank Bournois, University, Poland Witold Bielecki, St. Gallen,Switzerland President-Designate, CEIBS, Vice President of Rector, Kozminski President, Asian Dean,ESCPEurope, Dean, Keio Business President, University of Chief People and Dean,Bologna Dean Emerita, 23. 22. 21. 20. 19. 18. 17. 16. University ofChina,China and Former Vice-President, Renmin Former DeanofBusinessSchool Zhihong Yi, University, UnitedKingdom Business School,NottinghamTrent Baback Yazdani, Switzerland Relations andFormer President, IMD, Dominique Turpin, Singapore Singapore ManagementUniversity, Lee Kong Chian SchoolofBusiness, Howard Thomas, HEC-Montréal, Canada Michel Patry, Bentley University, UnitedStates and Management,Former Provost, Michael Page, United Kingdom Business School,University ofLeeds, Peter Moizer, Australia Queensland University ofTechnology, and Former DeputyVice-Chancellor, Executive DeanQUTBusinessSchool Peter Little, Professor ofFinance, Emeritus Professor, Former Director General, Dean, LeedsUniversity Professor ofFinance Dean,Nottingham DeanEmeritus, Dean forExternal

39 EFMD GOVERNANCE 40 EFMD TEAM 2018 EFMD TEAM 2018EFMD TEAM 22 15 8 1 23 16 9 2 10 24 17 3 25 18 11 4 26 19 12 5 27 20 13 6 28 21 14 7 EFMD TEAM 2018EFMD TEAM 31 29 32 30 22. 21. 20. 19. Services Quality 18. 17. 16. 15. 14. 13. Corporate Services 12. 11. 10. 9. 8. 7. 6. 5. 4. Business Services School 3. 2. 1.

Jan Ginneberge, Martin Moehrle, Martin Caroline Taylor, Jean-Alexis Spitz, Eline Loux, Cecilia Heidelberger, Virginie Heredia Rosa, Delphine Hauspy, Robin Hartley, Diana Grote, Nadine Burquel, Matthew Wood, Deputy Director General Helke Hernandes, Carvalho Eric Cornuel, Ulrich Hommel, Susan Hart, Galliers, Robert David Asch, Caroline Malvaux, Manager Florence Grégoire, Shanshan Ge, Corporate Services Richard Straub, Coordinator Manager Associate Director Director Director General&CEO Manager Senior Manager Associate Director Coordinator Director Associate Director Associate Director Director Operations Associate Director Senior Advisor, Manager Coordinator Coordinator Membership Coordinator Manager

25. 24. 23. 10. 4. European Co-operation 32. 31. 18. 30. 29. 28. 27. 26. Martin Schader,Martin Alfons Sauquet, Director Michael Osbaldeston, Cecilia Heidelberger, Nadine Burquel, Marielle Van Renterghem, Joyce delRosario, Caroline Malvaux, Aurélie Harmand, Veronique Roumans, Isabel Ramos, Jens Peter Tøndel, Barbara Sporn, Manager Associate Director Associate Director Director Associate Director Coordinator Coordinator Coordinator Associate Director Coordinator Manager Associate Coordinator

41 EFMD TEAM 2018 42 EFMD TEAM 2018 EFMD TEAM 2018EFMD TEAM 47 40 33 41 34 48 42 35 49 50 43 36 51 44 37 52 45 38 46 39 47. 46. 45. 44. Finance 43. 42. 41. 40. 39. 3. &IT Communications Marketing, 38. 37. 36. Projects International 35. 34. 33. Services Membership 2018EFMD TEAM

Isabelle DeGreef, Angela Rojas, Finance &HR Benoît deGrandRy, André Fizaine, Muriel Ebrahime, Coordinator Claire deSpéville, Patsy Van Autreve, Nick Pergoot, Manager Magdalena Wanot, Matthew Wood, Athanasia Panoutsou, Jean-Baptiste Maillard, Christophe Terrasse, Membership Relations Catarina Botelho, Membership &Governance Elysse Vincze, Liliane Gaspari, IT Manager Manager Director Project Manager, Manager Director Operations Designer Coordinator, Assistant Communications Communications Manager Senior Manager, Director Coordinator Manager 48. Services Support 52. 51. 50. 49. Special Advisors Reception Claude Loux, of Development Projects inCuba Julio Urguel, Services Gordon Shenton, Responsible ManagementEducation Liliana Petrella, Business SchoolServices Griet Houbrechts, Senior Advisor&Director Coordinator, Office& Special Advisor, Senior Advisor, Quality Senior Advisor,

43 EFMD TEAM 2018 44 FINANCIAL REVIEW 2017 Operating Revenue 2017 REVIEW FINANCIAL PERFORMANCE FIGURES ATKEY AGLANCE Result oftheyear Operating revenue increase 24.22% 16.2% 185.000 € 2016 215,000 € 2017 8.300.000 € 2016 10.311.000 € 2017

Operating expenses Operating Liquidity A solidfoundation forfuture development 3.0m € working capital cash flowposition increase in € 1.2m Operating expensesincrease 24.41% 8.075.000 € 2016 10.046.000 € 2017

2016 2017 EBIT A strong financialindependence Solvency 46% solvency ratio 17.4% 225.000 € 2016 265.000 € 2017

A strong financialindependence FINANCIAL STATEMENTSFINANCIAL 2017 BALANCE SHEET BALANCE TOTAL ASSETS Deferred charges and accruedincome Cash andcashequivalents Other debtors Trade debtors CURRENT ASSETS Financial assets Property, plantandequipment Intangible assets NON-CURRENT ASSETS Note 2.3. 2.2. 2.1. 2.1.

10 243456.29 8 180046.76 2 063409.53 1 920990.55 4 614911.68 3 287591.13 206530.81 31.12.2017 90750.63 71013.14 51668.35 8 020959.06 5 779763.64 2 241195.42 3 410978.13 2 054252.67 1 955682.56 276440.19 136662.76 131871.41 31.12.2016 55071.34 EUR NET ASSETS NET Accumulated profit carriedforward ASSETS NET TOTAL LIABILITIES Accrued charges anddeferred income Other Salaries Tax, VAT Suppliers Financial liabilities CURRENT LIABILITIES Long termdebts NON-CURRENT LIABILITIES Note 2.6. 2.5. 2.4. 2.4.

(5 491906.61) (5 171617.08) (1 054238.20) (1 913201.38) (1 864815.72) 4 751549.68 4 751549.68 ( 223768.04) ( 320289.53) ( 320289.53) 4 751549.68 ( 76311.30) ( 39282.44) 31.12.2017

(3 484587.76) (3 125015.79) (1 297224.57) 4 536371.30 4 536371.30 ( 806415.50) ( 175505.28) ( 227867.87) ( 579476.89) ( 359571.97) ( 359571.97) 4 536371.30 ( 38525.68) 31.12.2016 EUR

45 FINANCIAL STATEMENTS 2017 46 FINANCIAL STATEMENTS 2017 FINANCIAL PERFORMANCE FINANCIAL STATEMENTSFINANCIAL 2017 Non-recurrent result Non-reccurent income Financial result Financial expenses Financial revenue Operating result–EBIT TOTAL OPERATINGEXPENSES Other operatingexpenses Amounts writtenofftradedebtors Depreciation Remuneration andothergoods Services Direct costsonprojects OPERATING EXPENSES Total OperatingRevenue Other income Turnover &Membership OPERATING REVENUE ECONOMIC RESULT OFTHEYEAR

Note 3.2. 3.1.

10 046402.32 10 310985.43 2 440445.70 5 501175.55 9 730449.94 1 358499.52 ( 49404.73) 215178.38 264583.11 360625.58 162140.47 223515.50 580535.49 53570.99 2017 4166.26

8 075045.95 8 300415.85 5 240557.69 2 415319.89 7 574463.12 ( 40190.76) 185179.14 225369.90 130617.49 213518.84 725952.73 75032.04 47122.62 2016 6931.86 –

(20.03%) (39.90%) 176.09% 116.09% Variance 16.20% 22.93% 17.40% 24.41% 13.68% 24.22% 28.46% 16/17 1.04% 4.68% 4.97% EUR –

CHANGE IN NET ASSETS IN NET CHANGE Balance asat31.12.2017 Economic result oftheyear 2017 Balance asat31.12.2016 Economic result oftheyear 2016 Balance asat31.12.2015 Accumulated profitcarriedforward 4 751549.68 4 536371.30 4 351192.16 185179.14 215 178.38 EUR FORECAST YEAR 2018FORECAST YEAR /2017 –ACTUAL 2017 Depreciation (1) Other overhead expenses tootherassociations Financial support Fees services) (occasionnalconsultants&sundry Travelling &accomodations Marketing &communication Administrative expenses Office equipment Rent &maintenance Personnel (incl.regular consultants&interimpersonnel) OVERHEADS DIRECT EXPENSES OPERATING REVENUE CASHFLOW (3)+(2)+(1) RESULTNET (3) Financial result Provision forbaddebts (2)

Forecast (6 703) (4 675) (2 327) 2018 ( 450) ( 260) ( 205) ( 120) ( 211) ( 292) ( 185) 9 240 ( 50) ( 85) ( 95) ( 75) 506 210 Actual (4 548) (6 563) (3 533) 2017 10 311 ( 162) ( 224) ( 285) ( 432) ( 233) ( 163) ( 119) ( 183) ( 49) ( 94) ( 71) 601 215 Forecast (000) EUR (2 089) (4 465) (6 469) 2017 ( 300) ( 100) ( 240) ( 440) ( 220) ( 180) ( 169) ( 155) 8 755 ( 80) ( 45) ( 75) 512 197

47 FINANCIAL STATEMENTS 2017 48 NOTES TO THE FINANCIAL STATEMENTS included in the statement of financial performance. amount of the disposed asset and are selling expenses with carrying Gains or losses on disposals are determined by comparing proceeds less basis over their estimated useful lives. of the asset. The assets are or depreciated amortised on a straight-line that is directly attributable to theacquisition, construction or transfer or depreciation.accumulated amortisation Cost includes expenditure All intangibleand tangible assets are stated at historical cost less 2.1. assets tangible and Intangible 2. NOTES TO SHEET THEBALANCE these goals in mind that thepresent document has been drawn up. the accountability of the entity for the resources entrusted to it. It is with and institutional Universitiesfunder, - ourpartners and to demonstrate useful for our members - the business schools and the Corporate association, the objectives are more specifically toprovide information that is useful to a wide range of users. For the EFMD as an international and cash flows of an entity about the financial position, performance The objective of the financial statements is to provide information 1.2. Accounting Principles accounts are kept in euro on the basis of the calendaryear. They are prepared on the basis of accrual-based accounting rules. The The accounts ofthe EFMD are kept in accordance with the Belgian GAAP. 1.1. rules accounting and basis Legal 1. SIGNIFICANTACCOUNTINGPOLICIES NOTES TO STATEMENTS THE FINANCIAL Furniture andotherequipment Office equipmentand IT Buildings’ modifications Buildings Intangible assest Typerate – amortisation depreciation line asset Straight of 20% 10% 33% 33% 2% Included in financial assets are mainly deposits. assets Financial 2.2. Other Advances received on European contracts Other 2.6. Other to bepaidis reduced. conferences. Therefore, the VAT due is regularly paid and the balance ofVAT We are now registered to VAT in all the EU countries where we are organizing Tax VAT Tax & VAT Tax,2.5. VAT 39.282,44 EUR The long-term loans amount to 320.289,53 EUR and the annuities totalise liabilities financial and debts term Long 2.4. FORGEC project which has an impact of more than 2million EUR. The increase in trade debtors at the end of 2017 is due to the finalising ofthe 2.3. Trade debtors (1 834 514.74) (1 864 815.72) ( 30 300.98) ( 76 311.30) ( 16 829.93) ( 59 481.37) 31.12.2017 31.12.2017 (1 261 386.51) (1 297 224.57) ( 160012.18) ( 175 505.28) ( 35 838.06) ( 15 493.10) 31.12.2016 31.12.2016

Turnover and membership Other Membership EQUIS EPAS CLIP International projects Conferences 3.1. Turnover membership and 3. STATEMENT OFFINANCIALPERFORMANCE million € 0.5 1.5 2.5 0 1 2 3 2017 Other 2016 CLIP EPAS 9 730 449.94 1 895 082.64 1 873 689.72

International 3 019 483.0 1 950 725.0 878 018.0 41 451.58

projects 72 000.0 2017 Conferences 2 845 722.05 7 574 463.12 1 698 419.54 1 779 015.0 451 606.08 100 000.0 50 082.45 649 618.0 2016 EQUIS Var 16/17 (17.23%) 319.63% (28.0%) 10.32% 28.46% 35.16% 6.11% 9.65% Membership EFMD EQUIS isthesecondsource ofrevenue, justaftermembership,and has beenexceeded (912)aswelltheEUR 3millionofrevenue. Membership isthemainsource ofrevenue. Thelimitof900members its printing equipment, on-line services and internationalisation. and internationalisation. its printing equipment, on-line services allow EFMD to self-finance the continuation of planned investments in The surplus of 210.000 EUR and the cash flow of506.000 EURshould Project willbe finalised in 2018. Expenses results only from International the fact that no important Compared to Actual 2017, the decrease in Operating Revenue and Direct The Forecast 2018 assumption is the continuation of EFMD expansion. 4. FORECASTYEAR2018/2017–ACTUAL 2017 an increase of1,4millionEUR. projects” where thefinalisationofFORGECproject contributesto The mostspectacularprogression wasbooked in“International 1,874 millionEURinrevenue. With aprogression ofmore than10%in2017,conferences generated EQUIS represented 20%oftheturnover oftheEFMD. reached 1.950.725EURin2017.Withatotalof174accredited schools,

49 NOTES TO THE FINANCIAL STATEMENTS 50 AUDITOR’S REPORT AUDITOR’S REPORT AUDITOR’S REPORT

51 AUDITOR’S REPORT EFMD AISBL Rue Gachard 88 – Box 3 1050 Brussels Belgium T +32 2 629 08 10 F +32 2 629 08 11 E [email protected] www.efmd.org

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