Thursday, August 30, 2018

More Americans taking Euro MBAs!

Drawn by shorter, less expensive and more international diverse business schools, more Americans are looking at top European MBA programs as an alternative
A generation of American artists, writers and doctors headed to Paris for inspiration during La Belle Epoque. Hollywood film stars flocked to post-war Rome in search of the La Dolce Vita. And Wall Street bankers made London their second home as the Big Bang deregulation of the 80s and 90s transformed London into a center of global finance.
Now there is a fresh generation of Americans heading to Europe in search of personal and professional development. They want to go to business school, and see the shorter, internationally diverse MBA programs of the old continent as an increasingly attractive alternative for their resumes and bank balances.
The GMAC Prospective Students Survey 2018 already captures the declining appeal of a US business school education among international students. Less than half (47%) of those surveyed stated a preference to study in the U.S., down from 56% in 2016, as Poets&Quants Editor-in-Chief John A. Byrne details in this piece.
Among the same group over the same period, those preferring to head to a European business school has increased from 26% to 33%. But it is not just applicants from Asia, Latin American, the Middle East and Africa that are thinking twice about U.S. study plans.
“We’ve seen a dramatic increase in interest for the top European schools from the U.S. market over the last eighteen months,” explains Caroline Diarte Edwards, co-director of Fortuna Admissions and former Director of Admissions and Financial Aid at INSEAD. “While the rest of the world has reacted to a changing political climate and concerns about visa opportunities in the U.S., a growing number of American applicants are looking to enhance both their personal and professional development with a more affordable international study experience.
Diarte Edwards points to the ROI of the one-year MBA that is underlined in the most recent Forbes ranking. “While it takes Harvard Business School students 4 years on average to pay back their investment, the thirteen European schools in the one-year ranking had a payback that ranged from 2.2 years to 3.2 years.”
Nine of the top ten European business schools take part in the CentreCourt MBA Festival, which through September 2018 brings together 34 of the world’s top 40 business schools to meet with MBA applicants in cities across the US and Canada. All of them are reporting a sharp increase in demand from the U.S.
Benoit Banchereau, director of MBA admissions at HEC Paris believes that the personalized approach to candidate outreach at CentreCourt and other networking events has really made it’s mark with applicants who might feel like just another applicant among the thousands applying to the big U.S. business schools. “The small size of our MBA cohort, limited to 250 students, guarantees a personalized learning experience that prioritizes each individual and their unique goals. But that tailored approach starts with the first connection with our team, and the opportunity to receive feedback and a preliminary evaluation to help you on your MBA journey.”
HEC Paris saw a 21% increase in U.S. demand in 2017, and the trend has continued with a 16% increase in applications in the first six months of 2018. For Banchereau the idea of studying at one of the top 5 European schools is on the radar screen of those who were unable to secure a place at Harvard, Stanford, Wharton and other M7 schools, but want an MBA from a globally recognized institution.

U.S. MBA Applications Plunging

Recently, many second-tier business schools have struggled in recent years to recruit candidates to their full-time MBA programs, while the more highly ranked MBA programs have generally reported ever increasing numbers of applicants to their programs.
MBA applications at many of the most highly selective business schools in the U.S. are plunging, in many cases by double digits. An analysis of preliminary 2017-2018 application data by Poets&Quants reveals some shocking declines. 
  • At Rice University’s Jones Graduate School, for example, candidates to the school’s full-time programs plummeted by 27.7% to just 587 applications from 813 a year earlier.
  • At the McCombs School of Business at the University of Texas-Austin, applications fell 19.6%. 
  • At the Kenan-Flagler Business School at the University of North Carolina-Chapel Hill, applicants declined by 18.3%. 
  • Applications dipped 16.2% at Georgetown University McDonough School of Business
  • Applications fell 13.2% at Indiana University’s Kelley School of Business (see below table).

Many schools have yet to release numbers, including Harvard, Stanford, MIT Sloan, Chicago Booth and Northwestern Kellogg, but declines are expected in applications to their MBA programs as well. 
  • Harvard Business School apps fell below 10,000 this past year, from a near record 10,351 in 2016-2017. 
  • Wharton has already disclosed a 6.7% drop in applications for 2017-2018. 
  • UC-Berkeley's Haas School of Business saw a 7% decline.

The declines, moreover, appear to be across the board, though the severity of the drops vary from school to school. At 
  • Yale University’s School of Management applications fell 7.6% to 3,785 from 4,098. 
  • At the University of Michigan’s Ross School of Business, MBA apps are down by 8.5% to 3,188 from 3,485. 
  • At Duke University’s Fuqua School of Business, applicants fell by 6.2% to 3,557 from 3,796 a year earlier.

Still, those drops have significantly boosted acceptance rates. At Rice’s Jones School, ranked in the top 25 for its MBA program by Poets&Quants, the admit rate jumped to 39.2% from 27.0% a year ago. The acceptance rate at Georgetown’s business school zoomed to 55.2% from 47.8%, while UT McCombs saw its admit rate go to 33.6% from 28.0%.
Though many admission officials were predicting declines in the 4% to 5% range this year, largely because of fewer international applicants applying to U.S. schools, the drops are far more severe and troubling. There are several obvious culprits for the downswing, but many business school officials are largely blaming the political climate in the U.S. For the first time ever, fewer than half the prospective students for a full-time MBA program now want to study in the U.S., according to the most recent survey of prospective students by the Graduate Management Admission Council.
“There’s no doubt that immigration policy is having a negative impact on U.S. business schools,” says William Boulding, dean of Duke University’s Fuqua School and the new chair of GMAC. “You’ve seen growth in business schools outside the U.S., but the U.S. is losing the pipeline of talent. If we are going to maintain our reputation for having the best business schools in the world, we have to be able to attract the best and brightest in the world. Student mobility has become a big issue.”
AThe GMAC report found that 47% have a preference for the U.S. now, down nine percentage points from 56% in 2016. Meantime, Western Europe has become significantly more popular. Today, 33% of would-be, full-time MBA students prefer to study in Western Europe, up seven percentage points from last year’s 26%. In a single year, the European schools have closed the gap between them and the U.S. by an astounding 16 percentage points.
George Andrews, associate dean of degree programs at Jones Graduate School of Business at Rice University
Rice University’s business school sufferred one of the largest declines — a 27.7% year-over-year drop in full-time MBA applications — exacerbated by last August’s Hurricane Harvey which dumped 51 inches of rain on greater Houston in two days. The catastrophic storm shut down everything. “We were completely underwater,” recalls George Andrews, associate dean of degree programs for the Jones Graduate School of Business. “We had two weeks of cancelled classes and we missed two months of international travel for recruiting events internationally last fall.”
At first, the early declines were attributed to the disruption caused by Harvey. But then, the numbers continued to fall. “One hundred percent of our decline was international,” adds Andrews, “with applications from India and China down by 40%, give or take a percent. Our domestic applications were actually up. When we talked with other schools about the falloff, the political climate was something  that got mentioned regularly.”
Anti-immigration rhetoric along with greater uncertainty over work visas have scared off many international applicants. But Andrews says it is even worse than that. “Many prospective candidates talked about knowing friends who were having trouble getting back and forth between the U.S. and their home countries. The perception is that they were being harrassed with more searches at airports. If they got a student visa, there was a real worry that they wouldn’t be able to finish the program.”
Some admitted students from overseas, in fact, have even had trouble obtaining student visas once admitted.  “We had three students who were ready to enter the class struggle with visas this year,” says Mabley at McCombs. “One ultimately came through but two didn’t and had to delay their plans to attend the program. This is the first time we ever had students denied visas to come to school.”
Of course, that is for students who were admitted. Many more internationals aren’t even trying. “Trump is scaring off internationals from considering an MBA in the U.S.,” says Jeremy Shinewald, founder and CEO of mbaMission, a leading MBA admissions firms. Shinewald’s firm has seen the number of free consultations given to potential Indian applicants fall by half in the past year. One U.S. school recently held an infomation session for its MBA program in Paris and drew only three people, down from a more typical 30-person crowd, Shinewald notes.

ジョンソン・スクール Class of 2020 Profile

The MBA Class of 2020 kicked off the fall semester in style earlier this month at Cornell’s Johnson Graduate School of Management. To formally welcome the new recruits to the Cornell community, Johnson Business Feed published a comprehensive class profile, shedding light on the students who make up the incoming class.
There are 280 students in the incoming students (up just slightly from last year’s 277), and they boast an average GMAT score of 699 and an average undergrad GPA of 3.4. That’s pretty similar to the Class of 2019, where average GMAT score was 700 and average GPA was 3.36. Average work experience also remained constant year over year, with incoming students bringing five years’ experience in the workforce to bear on their business school journey.
Admissions Director Judi Byers and her team have been working hard to recruit more women to Johnson, and their efforts are paying off. Women make up a full third—33 percent—of this year’s incoming class, a six-point increase over last year. The percentage of underrepresented minorities (URMs) in the Class of 2020 also grew, from 12 percent last year to 15 percent with this newest class. In total, U.S. minorities make up 32 percent of the overall class. That figure includes Asian American, African American, Native American, and Hispanic American students.
International students, though, dipped. International students made up 34 percent of last year’s incoming class, but this year they account for only 27 percent. Johnson, like many of its peer schools, experienced a drop-off in international application volume amid widespread concerns around possible U.S. immigration and work visa restrictions. Still, they will bring perspectives from 40 different countries to the Johnson classroom. That’s up from 38 countries represented in the second-year class. There are also fewer military veterans in this year’s class—7 percent as compared to 11 percent for the Class of 2019.
In terms of undergraduate majors, former business students make up the largest slice of this year’s pie—29 percent. Social science majors make up the second largest group at 21 percent, followed closely by engineers, who comprise another 20 percent of the class. Humanities majors are in the minority: They represent just 10 percent of the Class of 2020.
As for previous work experience, the vast majority of the incoming class—44 percent—falls into the category of “other.” According to Johnson, this includes students who have worked in the real estate, energy, nonprofit, and transportation industries, among others. Roughly a quarter of the class—23 percent—come from finance, and another 17 percent are former consultants.
In an Instagram post, Byers shared that the Class of 2020 wasted no time getting into the spirit of things during pre-term week, adding to the school’s shared wall of values and expectations. Community, impact, collaboration, excellence, and teamwork were among those she chose to highlight.

ロス・スクール・オブ・ビジネス MBA Recommendation Questions

The University of Michigan MBA application is now live, for applicants targeting the Ross School of Business this 2018-2019 admissions season. This means that the Ross MBA recommendation questions are now available. Recommenders are asked to provide 50-500 word responses to three questions (in addition to a fourth optional response) about the applicant’s broad skills and receptiveness to feedback, to rate the applicant on a series of competency and character traits, and to offer some brief context about their relationship with the candidate.

2018-2019 Michigan / Ross MBA Recommendation Questions

Recommender Information

How long have you known the applicant?
During which period of time have you had the most frequent contact with the applicant?
If you are affiliated with Ross School of Business or University of Michigan, please indicate how.

Recommendation Form

In this section, you will find 12 competencies and character traits that contribute to successful leadership. The competencies and character traits are grouped into five categories:
  • Achievement
  • Influence
  • People
  • Personal Qualities
  • Cognitive Abilities
For each competency, please mark the one button corresponding to the behavior that you have seen the applicant most consistently exhibit. We acknowledge that all applicants have both areas of strength and areas of development. Your candid, honest appraisal will assist in evaluation of the applicant. Please assume that each level builds upon behaviors of the previous level.
  • No Basis for Judgement
  • Reluctant to Take on New Tasks, Waits to Be Told What to Do; Defers to Others
  • Willing to Step in and Take Action When Required to Do So
  • Takes Charge Spontaneously When Problem Needs Attention
  • Volunteers for New Work Challenges; Proactively Puts in Extra Effort to Accomplish Critical or Difficult Tasks
  • Proactively Seeks High-impact Projects; Steps Up to Challenges Even When Things Are Not Going Well
Results Orientation
  • No Basis for Judgement
  • Focuses on Fulfilling Activities at Hand; Unsure How Work Relates to Goals
  • Takes Actions to Overcome Obstacles to Achieve Goals
  • Independently Acts to Exceed Goals and Plans for Contingencies
  • Documents Activities and Outcomes to Learn From Past; Introduces Incremental Improvements to Raise the Effectiveness of Team
  • Invents New Approaches with Measurably Better Results; Works to Deliver Best-in-class Performance Improvements
Communication and Professional Impression, Poise and Presence
  • No basis for judgement
  • Struggles to Get Point Across; Neglects to Understand Audience’s Input or Perspective; Lacks Confidence and Gets Flustered Under Pressure
  • Works to Get Point Across; Acknowledges Feedback; Reframes Statements When Necessary to Make Them Clearer; Speaks Politely; Remains Composed in Known Circumstances
  • Present Views Clearly and Logically Structures Content for a Broad Audience; Listens and Responds to Feedback; Prepares in Advance to Appear Confident; Leaves a Positive and Professional Impression; Responds Confidently in Unfamiliar Situations
  • Uses Tailored Language That Appeals to Specific Groups; Restates What Others Have Said to Check for Understanding; Comes Across as Confident; Responds Rapidly and Strongly to Crisis; Looked to for Advice and Guidance
  • Structures Content for Senior-level Meetings; Maintains Composure When Challenged; Solicits Opinions and Concerns, Discusses Them Openly and Adjusts Communication; When in Strong Conflict or Crisis, Remains Cool Under Pressure; Channels Strong Emotion Into Positive Action
Influence and Collaboration
  • No Basis for Judgement
  • Does Not Seek Input and Perspective of Others
  • Accepts Input From Others and Engages Them in Problem Solving
  • Seeks First to Understand Perspectives of Others; Takes Actions to Gain Their Support for Ideas and Initiatives
  • Uses Tailored Approaches to Connect with Others, Influence, and Achieve Results
  • Uses Tailored Influence Approaches to Create and Leverage a Network of Strategically Chosen Individuals to Improve Collective Outcomes
Respect for Others
  • No Basis for Judgement
  • Unwilling to Acknowledge Others’ Points of View
  • Open to Considering Others’ Views When Confronted or Offered
  • Invites Input From Others Because of Expressed Respect for Them and Their Views
  • Praises People Publicly for Their Good Actions; Ensures That Others’ Opinions Are Heard Before Their Own
  • Uses Empathy and Personal Experience to Resolve Conflicts and Foster Mutual Respect; Reinforces Respect with Public Praise When Individuals Solicit and Use Input From Others
Team Leadership
  • No Basis for Judgement
  • Struggles to Delegate Effectively (E.g. Micromanages); Does Not Organize Activities or Provide Appropriate Information to Complete Tasks
  • Assigns Tasks and Tells People What to Do; Checks When They Are Done
  • Solicits Ideas and Perspectives From the Team; Structures Activities; Holds Members Accountable
  • Actively Engages the Team to Develop Plans and Resolve Issues Through Collaboration; Shows the Impact of Individual/team Contributions
  • Recruits Others Into Duties or Roles Based on Insight Into Individual Abilities; Rewards Those Who Exceed Expectations; Provides Strong Organizational Support
Developing Others
  • No Basis for Judgement
  • Focuses Only on One’s Own Growth; Critical of Others’ Efforts to Develop
  • Encourages People to Develop; Points Out Mistakes to Help People Develop and Praises Them for Improvements
  • Gives Specific Positive and Negative Behavioral Feedback to Support the Development of Others
  • Provides Overarching Practical Guiding Principles and Recommendations That Are Applicable in Multiple Situations to Direct or Focus Efforts on Specific Areas of Development
  • Identifies Potential in Others; Inspires Others to Develop by Providing Feedback, Mentoring/coaching, and Identifying New Growth Opportunities as Well as Supporting Their Effort to Change
Personal Qualities
  • No Basis for Judgement
  • Follows the Crowd; Takes Path of Least Resistance; Gives in Under Pressure
  • Acts Consistently with Stated Intentions, Values, or Beliefs When It Is Easy to Do So
  • Acts Spontaneously and Consistently with Stated Intentions, Values, or Beliefs Despite Opposition
  • Initiates Actions Based on Values or Beliefs Even Though the Actions May Come with Reputational Risk; Demonstrates the Values of the Team or Organization Publicly
  • Demonstrates High Personal Integrity Even at Personal Cost; Holds People Accountable to the Team or Organizational Values
  • No Basis for Judgement
  • Prefers Existing Ways of Doing Things; Fears Failure; Becomes Anxious Under Challenging Situations
  • Adapts to New Methods and Procedures When Required to Do So; Remains Calm in Unfamiliar Situations Until Confronted with Obstacle
  • Champions Adoption of New Initiatives and Processes; Exhibits Level-headedness in Most Environments Including Challenging Ones; Persists Until Obstacle Is Overcome
  • Seeks Out Disruptions as an Opportunity for Improvement; Remains Optimistic and Forward-looking in Difficult Situations That May Result in Failure
  • Energized by Projects with High Uncertainty but Potential for High Reward; Seeks to Be the First Into Unknown or Unfamiliar Situations; Welcomes Learning Opportunities Created by Failure;
  • Learns From Mistakes and Rebounds Quickly From Setbacks
Self Awareness
  • No Basis for Judgement
  • Lacks Awareness of How He/She Is Perceived; Denies or Offers Excuses When Confronted
  • Acknowledges Fault or Performance Problem When Confronted with Concrete Example or Data
  • Describes Own Key Strengths and Weaknesses Accurately; Welcomes Feedback From Others and Discusses Opportunities to Change with Select Individuals
  • Actively Seeks Out Feedback to Explicitly Address Desired Improvement Areas or Build on Strengths; Explores Reasons for Problems Openly, Including Own Faults
  • Seeks Out Challenging and Potentially Risky Experiences to Improve; Identifies and Engages with Resources-people, Processes, or Content-to Maximize Strengths or Mitigate Weaknesses
Problem Solving
  • No Basis for Judgement
  • Avoids Problems; When Faced with Problems, Sticks to What Worked Before, or Chooses an Obvious Path
  • Offers Solutions When the Risk Is Low; Focuses on Immediate, Short-term Implications Instead of the Big Picture
  • Looks Beyond the Obvious; Identifies and Focuses on the Critical Information Needed to Understand a Problem, Identifies Root Cause(s), and Comes Up with Reasonable Solutions
  • Gathers and Analyzes Key Information Using Complex Methods or Several Layers Deep; Integrates Perspectives From a Variety of Sources to Arrive at Unexpected but Practical and Effective Solutions
  • Applies Logic to Break Complex Problems Down Into Manageable Parts or Sub-problems; Solves Tough and Interconnected Problems and Can Explain How the Pieces Are Connected
Strategic Orientation
  • No Basis for Judgement
  • Focuses on Completing Work Without Understanding Implications
  • Understands Immediate Issues or Implications of Work or Analysis
  • Develops Insights or Recommendations Within Area of Responsibility That Have Improved Near-Term Business Performance
  • Develops Insights or Recommendations Within Area of Responsibility That Have Shaped Team/organization Strategy and Will Have Impact on Long-term Business Performance
  • Develops Insights or Recommendations Beyond Area of Responsibility with Impact on Long-term Business Strategy and Performance
(Optional) Is there anything about your rating on the grid categories which you would like to comment?
Based on your professional experience, how do you rate this applicant compared to her/his peer group?
  • Unable to assess
  • Below average
  • Average
  • Very good (well above average)
  • Excellent (top 10%)
  • Outstanding (top 5%)
  • The best encountered in my career
Overall, I
  • do not recommend this applicant
  • recommend this applicant, with reservations
  • recommend this applicant
  • enthusiastically recommend this applicant

Evaluative Questions

1. Please provide a brief description of your interaction with the applicant and, if applicable, the applicant’s role in your organization. (50 words)
2. How does the performance of the applicant compare to that of other well-qualified individuals in similar roles? Please provide specific examples. (E.g. what are the applicant’s principal strengths? (500 words)
3. Describe the most important piece of constructive feedback you have given the applicant. Please detail the circumstances and the applicant’s response. (500 words)
4. (Optional) Is there anything else we should know?

GSEI Receives Part of $1 million grant from Bank of America Charitable Foundation

Grant supports research on women's economic mobility and workforce social enterprise

The Georgetown Institute for Women, Peace and Security (GIWPS) and the Global Social Enterprise Initiative (GSEI) at the McDonough School of Business have been awarded a $1 million grant from the Bank of America Charitable Foundation.

This marks the second time the foundation has partnered with these two Georgetown entities to expand knowledge on workforce issues and women’s economic mobility.

The foundation aims to help build thriving communities by addressing issues fundamental to economic mobility, including workforce development and education, basic needs, and community development. 

Ambassador and Executive Director of GIWPS Melanne Verveer says the grant will enable the development of major research on how to create economic opportunities for women in fragile states.

It will also support a Bank of America Research Fellow for the 2018-2019 academic year, Raiyan Kabir (MPP’17), as well as a Research Fellow for 2019-2020. During the first phase of its research, GIWPS will focus on successful interventions to increase women's economic empowerment in conflict-affected nations.

The study will launch at the Bank of America conference on women’s entrepreneurship in Dublin, Ireland, this fall.

“There are a growing number of fragile states in the world. Women’s economic empowerment is an issue of utmost importance because it is critical for economic viability, political stability, and peace and security,” says Ambassador Verveer. “This important research will fill a critical need by contributing to what we know about creating economic opportunity and improving conditions for women.”

“Bank of America has been dedicated to women’s entrepreneurship and building their capacity to succeed. Its support for the research Georgetown will undertake is an example of its ongoing commitment.”

Bank of America’s past support to GIWPS contributed to the first-ever Women, Peace and Security index (link is external),  which looked at three dimensions affecting women’s well-being – inclusion, access to justice, and security. The index ranked more than 150 countries based on factors such as women’s workplace participation, girls’ education, and freedom from violence and discrimination.

Executive Director of GSEI Leslie Crutchfield says Bank of America’s grant will support a first-of-its-kind study of the breadth of social enterprise as an expanding field in the United States.

“We are trying to understand how the social enterprise movement is accelerating economic mobility for the nation’s most vulnerable and marginalized people,” Crutchfield says. “We know that social enterprise is on the rise in the U.S., and GSEI is excited to develop new knowledge designed to help enterprise leaders achieve even greater impact for people and the planet, while also maintaining a sustainable financial bottom line.”

GSEI will research social enterprise across the entire spectrum of purpose-driven companies, including those at the top of the business food chain, where large global companies use all of the company’s assets to advance causes and create shared value as well as small and growing enterprises.

Some social enterprises, she explains, are designed to benefit hard-to-employ or vulnerable populations that have otherwise been excluded from mainstream economic systems. Enterprises may employ people with disabilities or recruit formerly incarcerated individuals, people without homes, and adults left out of quality education systems. Social enterprise businesses aim to create economic opportunities for marginalized workers, and at the same time turn a profit.

Bank of America says the research will help further its work on advancing economic mobility, a core part of its focus on Environmental, Social, and Governance (ESG) leadership.

“We are guided by a common purpose to make financial lives better,” says President of the Bank of America Charitable Foundation Kerry Sullivan. “Supporting research and programs like those at Georgetown is a key demonstration of how we deploy capital and invest in partnerships that advance women entrepreneurs and build thriving communities.”

In addition, the grant will help GSEI build a new rural prosperity initiative designed to drive private investment into low-income rural communities in the United States.

It will also continue a dynamic leadership speaker series at campus events that has featured Chairman and CEO of Bank of America Brian Moynihan in conversation with Chairman and CEO of Berkshire Hathaway Warren Buffett, lead singer of U2 and philanthropist Bono, and American filmmaker Ken Burns.

“We are very proud that Bank of America is our founding partner,” Crutchfield says. She explains that by clearly integrating Environmental, Social, and Governance into the way it does business, Bank of America exemplifies the core values that GSEI aspires to instill in students.

“Educating our students to be in service to business and society is part of our Jesuit values,” Crutchfield says. “We want students who pass through our doors to leave Georgetown believing and understanding that there’s more than one bottom line in their careers and in life; and no matter what they do after graduation, they’re more equipped to think and act in responsible ways.”

INSEAD brings blockchain to business education

Don Tapscott appointed adjunct professor and partnership with Blockchain Research Institute signed

Middle East, Asia, Europe
27 August 2018

INSEAD, the business school for the world, today announces the appointment of Don Tapscott, a leading authority on the digital age, as Adjunct Professor of Technology and Operations Management with effect from 1 September 2018. INSEAD has also agreed on a two-year partnership with The Blockchain Research Institute (BRI), a think tank co-founded by Mr. Tapscott.

Blockchain is transforming business with far-reaching implications for the global economy and society. It is widely known as the technology that underpins Bitcoin and other cryptocurrencies, and is referred to by Mr. Tapscott as the “Internet of value.” Blockchain also holds great potential for many more applications such as secure and validated data transactions. These applications can strengthen and stabilize developing markets, which opens opportunities around the world.

To prepare future business leaders to tap into the potential of this exciting emerging technology, the INSEAD–BRI partnership will advance research on the evolving blockchain technology and its impact on business and society.

Peter Zemsky, Deputy Dean at INSEAD and Dean of Innovation, states that “Blockchain technology will fundamentally create new business models, transform most industries, and even disrupt the disruptors. INSEAD needs to be on top of this new wave of change to prepare future leaders for this transformation. We warmly welcome Don to the institution and look forward to partnering with BRI to take research and business applications of blockchain technology to a whole new level.”

Don Tapscott comments that “Blockchain represents nothing less than the second era of the internet, but to fully realize its potential we need to make sure business leaders are educated about its strategic implications. That was what motivated us to start the BRI, and it’s why I look forward to working with INSEAD as they educate the global business leaders of tomorrow.”

Don Tapscott is the CEO of The Tapscott Group and the Co-founder and Executive Chairman of The Blockchain Research Institute. He is a globally recognized thought leader in this field and the author of 16 books, including worldwide best-sellers Wikinomics: How Mass Collaboration Changes Everything and Blockchain Revolution: How the Technology Behind Bitcoin and Other Cryptocurrencies is Changing the World. Mr. Tapscott is a member of the Order of Canada and ranked the number two most influential Management Thinker and number one Digital Thinker in the world by Thinkers50. 

Under the partnership, joint research, teaching, and seminars will be conducted to better understand how this technology can change the way organizations are managed and prepare business leaders for a new definition of competition. The partnership will also support the development of an INSEAD online programme for business leaders to leverage the possibilities and strategic value of blockchain technology.

About INSEAD, The Business School for the World
As one of the world's leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to change lives and to transform organisations. A global perspective and cultural diversity are reflected in all aspects of its research and teaching.

With campuses in Europe (France), Asia (Singapore) and the Middle East (Abu Dhabi), INSEAD's business education and research spans three continents. The school’s 145 renowned Faculty members from 40 countries inspire more than 1,400 degree participants annually in its MBA, Executive MBA, Executive Master in Finance, Executive Master in Consulting and Coaching for Change and PhD programmes. In addition, more than 10,000 executives participate in INSEAD's executive education programmes each year.

In addition to INSEAD's programmes on its three campuses, INSEAD participates in academic partnerships with the Wharton School of the University of Pennsylvania (Philadelphia & San Francisco); the Kellogg School of Management at Northwestern University near Chicago; the Johns Hopkins University/SAIS in Washington DC and the Teachers College at Columbia University in New York; and MIT Sloan School of Management in Cambridge, Massachusetts. In Asia, INSEAD partners with the School of Economics and Management at Tsinghua University in Beijing, and China Europe International Business School (CEIBS) in Shanghai. INSEAD is a founding member in the multidisciplinary Sorbonne University created in 2012, and also partners with Fundação Dom Cabral in Brazil.

INSEAD became a pioneer of international business education with the graduation of the first MBA class on the Fontainebleau campus in Europe in 1960. In 2000, INSEAD opened its Asia campus in Singapore. And in 2007 the school began an association in the Middle East, officially opening the Abu Dhabi campus in 2010.

Around the world and over the decades, INSEAD continues to conduct cutting-edge research and to innovate across all its programmes to provide business leaders with the knowledge and sensitivity to operate anywhere. These core values have enabled us to become truly "The Business School for the World”.

ウォートン & INSEAD Renew Strategic Alliance

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Thomas S. Robertson, Professor at the Wharton School, Executive Director of the Wharton-INSEAD Alliance (left) and Gavin Cassar, Research Director of the INSEAD-Wharton Alliance at INSEAD
PHILADELPHIA, PA, August 23, 2018—The Wharton School of the University of Pennsylvania and INSEAD are pleased to announce the renewal of their strategic alliance through June 2021.  Established in 2001, the Wharton-INSEAD Alliance combines the resources of two world leaders in management education and creates global access to unparalleled business knowledge for students, faculty, and executives worldwide.
The Alliance encompasses significant joint activities, making it one of the broadest and deepest ventures of its kind between two leading business schools in the world:
  • MBA programme– Opportunity for student exchanges across campuses with access to the host school’s career services during the exchange period
  • Research and development– Collaborative research and teaching activities facilitated by the Wharton-INSEAD Centre for Global Research for faculty members and doctoral students
  • Faculty exchange– Opportunity for faculty to participate in the academic life of the partner school in research and teaching in the host school’s courses; as well as in short-term research visits
  • PhD student initiatives– Collaboration in doctoral education including student exchanges, research with faculty at partner school, and in joint research conferences/consortia and summer courses
Ilian Mihov, INSEAD Dean and Professor of Economics, says that, “INSEAD was founded on a principle of business as a force for good. Since we first opened our doors, this has guided our actions and our approach to business education. It also guides the partnerships we forge in pursuit of excellence in education. The INSEAD-Wharton Alliance is a shining example of how we use partnerships to remain true to our principles and deliver a truly transformative education experience – something no single school can provide. Together we can do more and produce more positive results for business and society.”
Geoffrey Garrett, Dean of the Wharton School, states that, “Today’s world is intrinsically interconnected. A global outlook is vitally important for individuals, for economies and for the world. Through the Wharton-INSEAD Alliance we are developing leaders who will become tomorrow’s global citizens. I’m delighted that this Alliance continues to grow and to support Wharton’s core values of global understanding and knowledge sharing.”
Thomas S. RobertsonThe Wharton School, Executive Director of the Wharton-INSEAD Alliance, says that, “Wharton is committed to achieving and maintaining a global footprint. A significant percentage of our faculty and students is international, our course content is deliberately international, and our faculty conduct research cross-culturally. The net result is to create and disseminate knowledge of value to global executives. The Wharton-INSEAD Alliance is an important conduit for Wharton to achieve its global ambitions by further connecting us to Europe, Asia and the Middle East.”
Gavin Cassar, Research Director of the INSEAD-Wharton Alliance at INSEAD, affirms that, “Tomorrow’s business leaders must have global reach and be part of a worldwide business education and knowledge network. The INSEAD-Wharton Alliance enhances the global perspective of our management research and education. Our longstanding deep collaborative relationship opens opportunities for faculty and student exchanges, truly global learning experiences and world-class research. As Research Director for the Alliance, I look forward to building further collaborations and opening even more opportunities for both institution’s faculty and students.”
Six Campuses. Two Schools. One Alliance.
The Alliance reaffirms both schools’ commitment to cultivate market leaders through management education, and to contribute towards global business research and education for businesses and communities worldwide.
So far, more than 1,700 MBA students and executives have benefitted from various programmes and collaborations across the schools’ six campuses in Philadelphia, San Francisco, Beijing, Fontainebleau, Singapore and Abu Dhabi.