With Della Bradshaw, editor of FT.com/BusinessEducationOct 15, 2013 : Managers need to understand things that do not normally appear in a business education curriculum, such as law, sociology and history, says Santiago Iñiguez, dean of IE Business School. He tells Della Bradshaw about his school's encouragement of working with other disciplines.
Santiago Iniguez - Dean of IE Business School and President of IE University
Santiago Iñiguez, presidente de IE University y decano de IE Business School, presenta las conclusiones a las que llegó el conjunto de expertos de todas partes del mundo que participaron como ponentes en la cuarta conferencia “Reinventing Higher Education” organizada por IE University en Madrid. El papel de las potencias emergentes, la reforma en Reino Unido y los nuevos modelos de educación online fueron los temas tratados en la conferencia, que trata de crear debate y esclarecer en lo posible el rumbo de la educación superior.
Santiago Íñiguez es Doctor en Derecho y MBA por IE. Ha trabajado como consultor de dirección de empresas y ha desempeñado una actividad relevante en el ámbito de la calidad en la formación ejecutiva. En la actualidad, Íñiguez compagina sus responsabilidades como Decano de IE Business School con los cargos de Presidente de EQUAL (European Quality Link), consorcio que integra las asociaciones de acreditación de escuelas de negocios de Europa; Miembro del Consejo Internacional de AMBA (Association of MBAs, Reino Unido); y Presidente de IE Fund en Estados Unidos.
THE FIRST business schools were founded in the US around the beginning of the 20th century. A century later, management education became truly globalised when the 2009 Financial Times ranking of MBA programmes included three European and one Chinese in the top 10.
A year later, first place went to the London BusinessSchool, unseating Wharton, which had alternated the top laurels with Harvard. In the same year's executive MBA ranking, six of the top 10 programmes were European or offered jointly by US and European schools.
US schools' loss of hegemony has been also highlighted by the increasing flow of American MBA students studying abroad...
There is no magic formula for turning somebody into a consummate manager. Good managers are made over time, based on the systematic exercise of good habits and routines, and through the accumulated experience of their sector and their relationships.
To reach the heights of management excellence requires discipline and hard work. It is not achieved simply through the passage of time.
Nevertheless, universities and business schools can help lay the foundations for this process by providing a more integrated and rounded education to current and future managers.
The extreme specialisation developed in universities in the past has been criticised because of its undesirable consequence, namely ‘silo syndrome’, whereby academics deal only with colleagues in their subject and students gain only narrow perspectives on practical and theoretical knowledge.
Universities can combat this by restoring the value of the humanities in the tradition of American liberal arts colleges. Making the humanities a core part of all degrees will cement the learning experience and develop open-minded and well-rounded graduates.
I also believe that good management is not just about implementing good managerial techniques. It is about leading people, understanding collective behaviour and developing a strategic vision.
These managerial skills are genuinely related to the humanities, which is why I support the integration of different management disciplines within the context of the social sciences and the humanities.
Our experience at IE University shows that including humanities courses in management programmes enhances the whole learning experience. We have introduced subjects and sessions dedicated to the humanities in all programmes, from the bachelor in business to the MBA programme and executive education.
Ours is a two-pronged goal. On the one hand we hope to include management studies within the broad spectrum of the social and human sciences, with the aim of highlighting the inter-connectedness of the models, concepts and theories of a range of disciplines, thus leading to a better understanding of the social role of business.
The aim is also to create well-rounded managers – enlightened and cultivated directors who have a working knowledge of the arts and history of their own and other cultures, thus better enabling them to lead multicultural teams.
We believe that studying history enables directors to take better business decisions based on an understanding of the experiences of the past. Similarly, an understanding of the history of art can strengthen students' powers of observation and perception, which in turn enables them to take more reflective or considered decisions, thereby offering a counterbalance to the action-oriented approach of most directors.
In addition to revisiting the role of humanities in management programmes, we need to find new ways of identifying talent that go beyond conventional forms of intelligence.
One of our biggest challenges for the future is to come up with alternative ways of identifying diverse talent, and consequently developing the means to bring out the best in students. This will significantly expand the pool of potential applicants to business schools and other higher education institutions while helping these centres identify the candidates that are right for them.
Moreover, we need to develop new teaching methodologies and approaches to learning that bring out the entrepreneurial and innovation skills of management students, along with their interpersonal and leadership skills.
This is without doubt the next major challenge with regard to teaching in business schools, and in order to meet it we will have to work closely with educationists and psychologists. Such an approach will also have a tremendous impact on our students and on management in general.
First, it will amplify the pool and profile of potential applicants to business school programmes, attracting those entrepreneurial candidates who were previously reluctant to start along or quick to exit the academic path. But second, and most importantly, it will make management programmes become transformational experiences suited to each student's specific form of intelligence.
Opening up the curriculum to the humanities while developing new teaching methods for identifying individual aptitudes presents promising new horizons.
I believe that the changes outlined here are essential not only for the future relevance of business schools, but also for business graduates who look forward to becoming entrepreneurs or to joining the current challenging jobs market.
* Santiago Iñiguez is president at IE University and dean of the IE Business School in Madrid. His last book, The Learning Curve: How business schools are re-inventing education (Palgrave, 2011), explains the changes being undertaken in the sector worldwide. This article is based on a presentation he gave at the “Going Global” conference earlier this month.
Advice from the Experts
We recently interviewed Dr. Santiago Iñiguez, Dean of IE Business School and author of "The Learning Curve" (thelearningcurvebook.com/), to share his insight into business education.
INIGUEZ, president, IE University, talks to Karan Gupta, study abroad
consultant, about the challenges facing higher education worldwide
What are the key challenges facing higher education today?
depends on the region you analyse because we see that the focus has now
moved from the Western hemisphere to Asia and so the problems in Europe
and in the US are different from those that universities face in Asia
or Latin America. For example, if you look at Europe and US, you'll find
that we are attending to problems of governance at most universities,
financing models and how to bring innovation into the reality and
maximise the learning process of users and technology in the learning
process. On the other hand, if you look at Asia or Latin America (which
has a lot of similarities vis-a-vis higher education ), I guess that the
challenges are how to build up prestigious accredited institutions with
global status, how to develop their own research and contribution to
knowledge from their distinctive perspective and how to build up
sustainable models of universities that can transform the world of
higher education. So both worlds are complementary and up until now
Western universities have been to some extent an inspiration for Asian
universities. In future, it may be reverse where Asian universities will
become references for many Western universities.
Any steps that you have taken to help overcome the challenges?
One of the steps I have taken is to organise the Reinventing Higher Education conference...
For the first time, the annual international conference on “Reinventing
Higher Education” gave prominence to the rapidly transforming Arab
world. Changes in the higher education landscape – driven by new
technologies, shifting global forces and funding cuts – were other
The event took place from 22-23 October at Madrid-based IE University, which is a private non-profit business owned by the Instituto de Empresa SL.
“The idea is to look at the university as a whole from all angles, and
try to suggest reforms for the future, for the better,” said Santiago
Iñiguez, president of IE University and chair of the conference.
He pointed out that the Arab world comprises more than 400 million
people in 22 countries and is experiencing profound transformation. It
was significant, he said, that this change “is being supported by both
public and private institutions, including individual philanthropists”.
“Philanthropy has been increasing in the Arab world, as 40- to
50-year-olds who, for example, have been very successful bankers, saw
that guys of 18 were willing to give their lives for change and then
thought, ‘What can I do?’” said Salah Khalil, director of the Alexandria
Trust, which contributes to restoring world-class standards in
education across the Arab region. (DeansTalk, October 23, 2012)
“Everyone was really excited about the Arab Spring but the reality of
the situation is that we need an ‘Educational Spring’,” said Khalil.
“This is because ‘perverse institutionalism’ persists in the Arab world,
whereby an organisation, whether it is a mosque or a university
department, is set up to do something – and it does the exact opposite.
Our biggest challenge is to create structures that can change this.”...
Santiago Iñiguez, President of IE University, interviews Arnoud De Meyer, President of Singapore Management University, about the success of Asian Universities in the Global Higher Education Market and the key factors that have helped Singapore to become an international education hub.
The interview took place at the IE Madrid Campus during the Reinventing Higher Education Conference organized by IE University, where experts gathered from international institutions like Oxford University, Brown University, the World Economic Forum, Wikipedia, Alexandria Trust and the British Council to discuss the environment surrounding universities nowadays. This includes things like the demand in a globalized world, the strength of emerging markets like Asia or the Middle East, and innovation in teaching methods.
Santiago Iñiguez (Wikipedia entry) is dean of IE Business School. Comment online: www.ft.com/soapbox
Asked what type of student they are looking for, most business school deans have the same answer: the best.
It is natural to want the most promising applicants. But are we really talking about and competing for the same group of potential students? At first glance it would seem so, given that the admissions criteria of business schools is so markedly similar – making for a zero-sum game. Each student can only go to one school.
(MBA50.com) If you read a manual of medicine from as recently as the 1920s, you realize that bloodletting was among the most common medical practices to make patients feel better. We now think of these remedies with horror, as more often than not they made the patients situation considerably worse, if not fatal.
So when we now read some of the advice of financial managers in the ’90s about mortgages and the diversification of risk, the parallel is obvious. So is there a need to reinvent management?
In this interview with Santiago Iñiguez, Dean of the IE Business School in Madrid, he looks at the criticism that business schools have faced for their role in the recent financial crisis, and the need to do better and more relevant research to understand how organizations behave. “This is a science in the making,” he argues, “and business schools need to adjust their curriculum, bring in new knowledge and ways of thinking to meet the demands of society.”
Author of a new book, “The Learning Curve“, Iñiguez prescribes three areas to re-invent business education:...
IE Business Publishing, tiene el placer de invitarle a la presentación del libro: “The Learning Curve"
Escrito por Santiago Iñiguez de Onzoño, que se celebrará el martes 27 de marzo de 2012 a las 19,00 horas.
Presentación del Acto e Introducción:
Diego del Alcázar Silvela, Presidente de IE
- Carina Szpilka, Directora General para España, ING Direct - Alberto Artero, Director General y Analista Económico, El Confidencial - Fernando Barnuevo, Presidente de Antiguos Alumnos, IE Business School - Santiago Iñiguez de Onzoño, Decano, IE Business School y Presidente, IE University
Al finalizar la presentación, se servirá un vino español
It is almost obligatory for business schools to trumpet their love of innovation, but Spain’s IE has a better claim than many for trying fresh approaches to business education.
Established in 1973 in Madrid, and now ranked as one of Europe’s leading schools, IE was among the first to offer an executive MBA 20 years ago, and later spearheaded a move into online education.
The school’s international reputation now helps it attract about 2,000 students from more than 90 countries each year, and it has built an alumni network of more than 40,000 with links to 25 offices spread from India to Chile.
“When we ask our students why they chose IE, they often say it is entrepreneurialism first, and diversity second,” says Santiago Íñiguez de Onzoño, the dean. “We have one of the highest-diversity environments, not just in terms of the numbers of passports, but in terms of gender, culture and different visions of the world.”
These aims are well demonstrated by IE University’s cross-disciplinary approach to teaching law, architecture and business and by the combined executive MBA programme with Brown University in the US, which sees students take courses in social sciences, literature and philosophy...
European universities should look to the US for a route back to excellence, argues Santiago Iñiguez de Onzoño
Greece was home to the Academy founded by Plato in the 4th century BC, the first Western higher education institution. Bologna in Italy was the cradle of the first university in the 11th century. One millennium later, these two countries, along with the Republic of Ireland, Portugal and Spain, have seen their governments swept away by the current economic crisis. This also implies changes in the future political agendas for higher education, particularly given the significant cuts expected to public budgets. It is very likely that similar reforms and budgetary adjustments will occur in countries such as France and Belgium in the medium term. Inevitably, the economic interdependence within Europe will spread budgetary adjustments to most countries in the continent, including those that stand resilient today.
One of the most severely affected areas of austerity policies will certainly be public education. But, as well as posing threats, times of crisis bring many opportunities that could in fact help to rejuvenate Europe's universities...
LONDON — It always pays to do your homework. And as Jeremy Bedzow, an M.B.A. student at the IE University in Madrid, can attest, in business school it often pays to volunteer — especially if you are looking for rewards that go beyond the bottom line.
Working with a team of IE students in Madrid, Mr. Bedzow helped Microsoft to develop a model program to provide training in information technology as well as the soft skills required to function inside the corporate world.
Known as ITCAN Academy, a pun on the Arabic word for perfection, itqan, the course recruited 100 university students, all of whom had to be Saudi nationals...
“One of our objectives at IE is to educate global citizens,” Mr. Íñiguez (Dean) said. “We try to instill civic virtue through the whole curriculum. Instead of having a module on ethics, we believe every course, every subject, every professor, should address these issues.”..
“That diversity also needs to be part of the learning process,” Mr. Íñiguez said. “We need to get beyond gender, or the number of passports in the class, and make sure our graduates are genuinely comfortable with different views and different values. We need to help students get rid of their arrogance.”
Following the success of the first event held in Segovia on May 4, 2010, IE University, in collaboration with the Chronicle of Higher Education is organizing the second edition of the Conference on ‘Reinventing Higher Education: The role of the University in a Global Society’, which will take place in Madrid at IE campus, October 18th, 2011. The aim of the conference is to gather university administrators, policy makers, business entrepreneurs, academics, student representatives and media experts to discuss the current status and future evolution of Higher Education (HE), and to debate the direction in which research, learning, governance and management of universities should now go. The conference is organized in partnership with The Chronicle of Higher Education, No. 1 source of news, information, and jobs for university faculty members and administrators.
Plato and Aristotle treated morality as a genre of interpretation. They tried to show the true character of each of the main moral and political virtues (such as honor, civic responsibility, and justice), first by relating each to the others, and then to the broad ethical ideals their translators summarize as personal “happiness.”...
It is time to include a poem in this blog’s summer series “Management and Literature”, and I am sure you are familiar with the one that I selected. Kipling’s “If”, originally written for his son, has been one of the most recited and quoted poems in recent times. I have heard it at numerous toasts and speeches made by managers. It is fresh, positive, forward looking and humane. You have probably identified yourself with one or some of its verses at some stage in your career. I hope you enjoy:
If you can keep your head when all about you Are losing theirs and blaming it on you, If you can trust yourself when all men doubt you But make allowance for their doubting too, If you can wait and not be tired by waiting, Or being lied about, don't deal in lies, Or being hated, don't give way to hating, And yet don't look too good, nor talk too wise:
If you can dream--and not make dreams your master, If you can think--and not make thoughts your aim; If you can meet with Triumph and Disaster And treat those two impostors just the same; If you can bear to hear the truth you've spoken Twisted by knaves to make a trap for fools, Or watch the things you gave your life to, broken, And stoop and build 'em up with worn-out tools:
If you can make one heap of all your winnings And risk it all on one turn of pitch-and-toss, And lose, and start again at your beginnings And never breath a word about your loss; If you can force your heart and nerve and sinew To serve your turn long after they are gone, And so hold on when there is nothing in you Except the Will which says to them: "Hold on!"
If you can talk with crowds and keep your virtue, Or walk with kings--nor lose the common touch, If neither foes nor loving friends can hurt you; If all men count with you, but none too much, If you can fill the unforgiving minute With sixty seconds' worth of distance run, Yours is the Earth and everything that's in it, And--which is more--you'll be a Man, my son!
Do we need management guilds? Dean Santiago Iniguez' contribution in Ambition, AMBA's magazine.
(Ambition is the quarterly newsletter from the Association of MBAs that keeps our members – international alumni and students from our accredited schools – informed about their activities and MBA-relevant updates and articles. See how you could reach this audience by advertising in the next Ambition.)
The tantalizing idea of professionalizing management
Historically, management has never attained the status of a formal profession, in the sense of setting up a guild or association by managers. In large part, the reason why there are no managers’ guilds is due to the flexibility and presence of management throughout such a wide range of activities. Would it really make much sense for the head of a hospital’s surgery department, the partner-director of a law firm, the founder of a high-tech start-up company, and the CEO of a consumer products manufacturer to create their own guild or any other type of association? They are all managers, and it may be that some of them have MBAs, but their shared professional interests would not extend much beyond ideas on how best to manage a budget or to motivate their workforce. In all likelihood, they are going to be more interested in learning all there is to know about their respective professions— medicine, architecture, law—and applying these techniques, tools, and ideas on management within the framework of these professions...
One of the top six business schools in the world (according to the Financial Times rankings 2010), Instituto de Empresa Business School's transition into a university has been smooth and successful.Santiago Iniguez , rector, IE University, Spain, tells Tirna Ray that the change is in keeping with the times:
Why did IE Business School, a well-known brand, transform into a university?
It was our vision more than the need. Given the convergence of higher education and the Bologna process, we thought of the bigger picture and that is what propelled the transition of IE Business School into IE University. The university is the evolution of IE Business School's mission to shape a unique centre for higher education learning and innovation in Europe. We have a distinctly international approach and one of the major priorities is to bring together faculty and students from around the world. We recognise and acknowledge the fact that in these global times, we need to offer a holistic learning experience to our students that covers management skills, an element of innovation, an entrepreneurial mindset, a global vision and social commitment.
Was there any concern that it would dilute the 'Business School' brand?
A lot of thinking, deliberation and discussion went behind the decision. Further, we decided to enter only into those areas in which we were convinced that we could excel. We chalked out a clear charter for the next 15 years which not only involved the curriculum but also substantial tie-ups and partnerships with the lead institutes across the world.
What is the vision of the university?
An IE University education focuses on entrepreneurial vision, technological innovation and international mobility along with a hands-on experience. The idea is to produce global citizens, rather than producing graduates who are specialised in specific disciplines. With our university located in the 15th century monastery of Santa Cruz la Real, in the city of Segovia, a site that has been a crucible of different cultures and that embraces tolerance and knowledge, our vision goes beyond the given boundaries of academics and ignites the desire to explore.
The bachelor's degrees at the IE University are taught in English and Spanish. Our strength is an innovative blended methodology, which offers a classroom experience along with online modes of delivery in the fields of architecture, art history, biology, business administration, communication and psychology and tourism management.
What is special about the academic content of IE programmes?
Our programmes equip students to put their acquired knowledge into practice. Workshops and facilities at the university include the applied psychology centre, art rooms, biology laboratories, digital editing rooms and the language centre to mention a few. The university aims to be responsive to the contemporary needs and values of the global market. The learning process encourages leadership and humanistic skills in our students through the core IE module, which includes key areas such as business leadership, interpersonal skills, ethics and humanities.
Do you have any plans to launch an overseas campus in India?
We do not disregard the possibility of entering India in the future. But, we believe that every country has its own specific needs. In order to target the ideal market in India, we would rather go for strategic alliances. In the next couple of years, we may work towards blended programmes - with face-to-face periods in India and online modules.
Strategic, steady, detached even, Vicente del Bosque, Manager of the Spanish football team, is the archetype cool, calm and cerebral football coach. His temperament is typical of Salamanca, the city where he was born.
He prepares the strategy for each match carefully, drawing in his notebook the arrangements for each position of the team players in the field. He or his assistants bring these notes to the pitch and they often refer to them during matches. If you look at the notes they are similar to the moves in a game of chess. He believes that playing well is a result of a carefully developed plan. For him, strategy takes priority over passion. He rarely shouts or expresses his emotions, keeping his cool instead. He is highly respectful towards the competition and often praises the strengths of rivals, both before the match and on winning. He very rarely accepts tributes and refers all congratulations to his team and the players. He is probably a prime example of elegant, effective and collaborative leadership. Unlike more outspoken showmen like Flavio Capello or José Mourinho, Del Bosque adopts a low profile and a somewhat austere attitude, which is proving to be a more intelligent and successful approach in the long run.
Del Bosque was a football player in his early years and believes that games are won in the middle of the field, as his positioning of the Spanish football team players on the pitch shows. He was also coach of Real Madrid Football Club between 1999 and 2003. During this time, he steered the club to its most successful achievements in modern history, taking it to two UEFA Champions League titles in 2000 and 2002, two domestic La Liga titles in 2001 and 2003, a Spanish Super cup in 2001, a UEFA Super Cup in2002, and the Intercontinental Cup in 2002, as well as ensuring they finished among the last four of the UEFA Champions League every year he was in charge. Consequently, his replacement, just after the Real Madrid won its 23rd Spanish League Cup, sparked rumors about his differences with Florentino Perez, the then President of the Club.
Del Bosque’s attitude and leadership style evidences how important it is to show sportsmanship and courtesy on the coach’s bench. Football is not all about passion, rivalry and emotions. It is, or rather it should be, primarily a sport and an opportunity to bring out the best in people. In short, we need more examples like Vicente del Bosque.
About Vicente del Bosque: And, according to Santiago Iniguez, dean of IE Business School in Madrid, Spain's brilliant run throughout the tournament can largely be attributed to the management style of Vicente del Bosque.
"He's the archetypal cool, calm, cerebral type," says Iniguez.
"He believes that playing well is a result of a carefully developed plan. For him, strategy takes priority over passion. He rarely shouts or expresses his emotions and he very rarely accepts tributes, referring all congratulations to his players.
"He's probably a prime example of elegant, effective and collaborative leadership. And how can you argue with a leadership style that won the World Cup?"
Referring to the Bologna process, Santiago Iniguez, Rector, IE University, Spain, says that changing times demand new academic paradigms. “A flexible curriculum fosters a modern, multi-disciplinary education,” he says, adding that programmes specifically designed to train leaders by equipping them with the skills and values will shape a 21st Century society.
Management can be one of the noblest professions in the world. It creates growth, wealth and development in society, provides jobs, fosters innovation and improves living conditions. Good management is one of the best antidotes to most of the world’s illnesses since it promotes convergence and understanding among civilisations. In times of crisis what is needed is more entrepreneurs and better management. At the same time, the current circumstances provide the arena where true leadership is tested and where managers can identify new opportunities or reinvent their existing businesses: it is time for the survival of the fittest, in Darwinian terms, or for the birth of new species that better adapt to this new environment. Times of crisis provide the breeding ground for entrepreneurs and innovators and many major companies, like Google, were created in adverse circumstances.
Supposedly, every century brings a revolution and we are, more or less perceptibly, living ours: a major societal shift, where the economic crisis, along with other factors like developments in technologies, the changes in the profile and values of young generations and the conflicting forces of globalisation and local diversity, are shaping a new model of society. In the midst of this forceful maelstrom, many managers feel uneasy and anxious. Again paraphrasing Dickens, the worst of times provides the best of times too.
Santiago Iñiguez de Onzono: Dean, Instituto de Empresa (IE) Business School
It was the best of times, it was the worst of times (…) it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us…" These familiar lines of Charles Dickens' "A Tale of Two Cities", one of the most celebrated literary openings ever written, seem very applicable today, as they were to the French Revolution – the context of the novel – and even to Dickens’ own times.
Graduate Dean of the the prestigious Sogang Business School in Seoul, Chae-Un Lim visited IE Business School as part of a module exchange between the MBA students of the two business schools. The dean of IE Business School Santiago Iñiguez took the chance to sit down and talk to Chae-Un Lim about Sogang´s MBA, and the changing relationship between Europe and Asia in the field of education.
Many in the humanities feel that their disciplines and relevance are under attack. Matthew Reisz asks if 'the best that has been thought and said' still has a place in today's universities.
... Whatever is happening in America, the liberal-arts model is being taken up enthusiastically elsewhere. Santiago Iniguez de Onzono is rector of the IE University in Segovia, which offers English-language courses in architecture, biology and communications as well as MBAs and other management qualifications clearly designed to create business leaders.
"We believe the American system is very strong," he says. "Specialisation begins too early in Europe, and it doesn't allow for the development of the person through a well-rounded education. Business people need to learn more about history, anthropology and so on because their decisions affect the lives of many others."
All IE students are now required to take a ten-class "world awareness seminar", supplemented by a wide range of elective courses. It can only help that these include a mixture of classical and contemporary culture: "watching a film by Michael Moore might be more relevant than learning about Gothic cathedrals", observes the rector.
It is also possible to integrate culture with core competencies. IE brings in actors from the Globe Theatre, for example, to teach Shakespeare alongside practical breathing techniques and communication skills.
In broad terms, IE's policy represents a conscious educational philosophy rather than a direct market-driven response to the demands of students and recruiters. "We see students as the raw material rather than as clients," explains Iniguez, "and decide to a large degree what is best for them. Lots of MBA students might prefer an extra unit in finance rather the humanities. Yet it can often help financial managers, who tend to be very action-oriented, to become more reflective by taking a course in design.
"It took a long time for corporate recruiters to value business ethics as a necessary skill, so we are trying to anticipate other things they will need in the future (such as well-rounded individuals with broad cultural awareness). In Europe, we have developed universities that are too specialised. We need to bring the benefits of a general education and the liberal-arts tradition."
Some of IE's corporate partners are beginning to get the message, claims Arantza de Areilza, dean of the School of Arts and Humanities. "They feel that it is essential for students to gain a global mindset and language skills," she says, "and they don't just want 24- or 25-year-olds with very specialist training. They are looking for a critical spirit, sensitivity to other cultures, writing skills and strong analytical skills.
"We also created specially tailored courses for the top management at (media companies) Telecinco and PubliEspana that touch on issues of migration and the impact of new technologies on our daily lives. We need to extend the view of our students beyond what more traditional technical studies teach." The humanities can answer some of these needs.
How do business schools remain relevant in today’s changing world?
AS THE clamour grows for more regulation to address the corporate failings that led the world into a two-year recession, business schools sense a chance to drive the agenda. By producing academic research that can inform the debates within Washington and Brussels, there is a chance to become relevant once again. But business is also changing its mind about it wants from MBA students. The super-confident, gung-ho leader, that was once their calling card, has fallen out of fashion. So can schools adapt to a changing world?
To find out, The Economist spoke to two prominent business deans from either side of the Atlantic: Santiago Iñiguez de Ozoño, dean of Spain’s IE Business school, and Paul Danos, dean of Dartmouth College’s Tuck School of Business in America.
Has the role of the business school changed as a result of the economic crisis?
This interview between Santiago Iniguez, dean of IE Business School and Mårten Mickos took place two months ago and the compromise to publish this today was made not knowing the European Commission's preliminary objections to the Oracle 7.4 B$ acquisition of Sun due to the MySQL part of the deal. (Here are a list of commentaries related to the proposed acquisition). The European Commission faces a January 19 deadline on whether to approve the planned takeover of Sun by Oracle, the world's second-largest business software maker.
Here are two posts on this blog about Marten and MySQL:
Santiago Iñiguez: What management thinker has most influenced you?
Peter Drucker was one of the most brilliant thinkers on management and leadership in the past one thousand years. His ideas are absolutely outstanding.
In these uncertain times what advice would you give to someone thinking of setting up their own business?
I like an answer that Linus Torvalds once gave about Open Source. Somebody asked him “Linus in what circumstances should I consider becoming an Open Source developer,” and he replied “only if there is nothing else in the world that you can see yourself doing”.
There are times when too many people try to be entrepreneurs. This was apparent during the Internet bubble when everybody was cheering on entrepreneurs, including governments who gave financial assistance. Indeed there were many who were not fit for it who tried and failed. Although a part of entrepreneurialism is that you try and fail and then you rise again, there were people who just really didn't have the mindset.
You have said that different types of personalities can be successful CEOs, what is the one trait that every successful CEO should have?
The one common trait of successful CEOs is that they know themselves and are confident about themselves. You also have to be convinced and committed to be an entrepreneur. It may look nice when you hear the success stories, but being an entrepreneur or CEO is very hard and nerve-wrecking work that typically takes many, many years to reach fruition.
As a CEO, everything I did was people related, and when it is people-related, it is also related to your own persona.
Last week, US President Obama defended government intervention in GM, the ailing automotive giant, as the company was filing for Chapter 11 bankruptcy protection. The US Government plans to own a 60 per cent stake in the company, something inconceivable in the past three decades.
Given the protagonist role of governments in business today and the foreseeable structural and cultural changes of the management landscape, business schools must adjust and explore a new paradigm for their relationship with government.
As governments become pivotal players in the economy not only as regulators, suppliers or customers, but also as shareholders and investors, entities such as public-private partnerships may well offer opportunities for research, teaching and consultancy and possibly suitable careers for MBA graduates.
It is interesting to note that the widespread management tool designed by Professor Michael Porter, called “The Five Forces that Shape Competition,” (taught in many business schools) depicting the major agents that determine a sector’s profitability, such as suppliers or new entrants, did not count the government among them. However, the circumstances of the present crisis anticipate a more intense interaction and greater overlapping between companies and governments, a blurred frontier between what is public good and what is private interest.
Historically, American and European business schools have put a different emphasis on stakeholders in strategy formulation and decision-making. Two decades ago, references to stakeholders in the US were discredited as borderline communist; the only relevant constituency for managers was shareholders. Conversely, European business schools have developed out of a very different management culture, open to a wider array of stakeholder groups beyond shareholders.
For example, the European business environment is characteristically regulated and governments have a decisive presence. Often as major shareholders in big companies but also through other instances such as awarding licenses, fixing tariffs, pre-emptively approving mergers or acquisitions or keeping various other prerogatives over companies’ decisions. For example, in Germany the law determines that unions should have a representative in public companies’ boards. In France the word “dirigisme” is often heard amongst French managers, referring to government’s strong interventions in the market.
There are some advantages for business schools in this new world of the resurrected “visible hand”. Firstly, civil servants, public administrators and politicians could become an increasingly relevant applicant pool for degree and custom programmes. Given the participation of governments in business through bail outs and regulation, government workers such as civil servants will need to update their knowledge and skills to run and understand these new functions effectively.
One area of big potential development is public entrepreneurship that is, preparing public officers with the mindset of creating value for citizens. Equipping public servants with an entrepreneurial, innovative mindset should help them to identify and create opportunities, a more proactive approach rather than just administering public resources. In fact, most management ideas and techniques can be translated into government practices, something that explains the growth of MPA (Master in Public Administration) programmes in recent years.
Second, CEOs and managers should realise the increasing importance of nurturing creative relations with governments and other stakeholders at large. A recent study at IE showed that CEOs at leading Spanish companies dedicate more than 60 per cent of their time to dealing with their company stakeholders - governments, media and opinion makers, unions, customer associations, NGOs and professional networks. The spheres of the private and the public are blurred and the profile of managers is becoming closer to that of politicians.
New frameworks are being researched by business schools to look at how to manage a broader array of stakeholders and create competitive advantage through these relationships. At some institutions one such area of research is described as non-market strategy. This calls for corporations to look beyond the traditional confines of the market (competitors, price etc) and find opportunities through interaction with groups such as government, regulators, NGO’s, the media and reshape markets in their favour. A number of corporations do this well, with a strong ability to manage these interactions, but many others are going to have to develop these attributes very quickly.
Yet business schools must not only research and teach these new approaches but practice them as well, as the management education sector faces greater scrutiny from a wider group of stakeholders than at any time in its history.
The economic crisis has thrown business schools into disarray. Deans and professors are suffering a crisis of confidence and are seriously questioning the structure and content of a twenty-first century management education. At the same time, business schools are searching for a way to contribute to global economic recovery. How can trust be rebuilt in business schools in general and the MBA programme in particular?
Participating in this Q&A session are: Paul Danos, Dean of the Tuck School at Dartmouth College; Yash Gupta, Dean of the Johns Hopkins Carey Business School; Frank Brown, Dean of Insead; Santiago Iñiguez, Dean of IE Business School in Spain; and Della Bradshaw, Business Education Editor of the Financial Times.
Paul Danos is the longest-serving Dean at any of America’s Ivy League business schools. He joined Tuck as Dean in 1995 from the University of Michigan business school (now the Ross school). The Tuck school has one of the oldest MBA programmes in the world.
Yash Gupta, on the other hand, is Dean of one of the US’s newest business schools at Johns Hopkins University in Baltimore. The business school was founded in December 2006 following the gift of $50m by William Carey, a New York City Investment Banker. The school’s full-time MBA programme is still on the drawing board and the school will enrol its first full-time MBA students in 2010.
Frank Brown joined Insead as Dean in 2006 from PricewaterhouseCoopers, the professional services firm, making him one of the few top Deans to have real business experience. Insead pioneered both the one-year MBA programme, which will celebrate its fiftieth anniversary this year, and the two-campus business school model - Insead has campuses in both France and Singapore.
Santiago Iñiguez became Dean of IE Business School in Madrid, one of the world’s most entrepreneurial business schools, in 2004. Just four years later he became Rector of IE University, following the decision of the business school to buy a university in nearby Segovia. The university has schools of Law, Humanities and Arts, Architecture, Communications, Psychology and Biology as well as Business.
Della Bradshaw is Business Education Editor of the Financial Times.
The panel will answer your questions on the future of business schools and the future of the MBA on Wednesday June 10 between 2pm and 3pm BST.
Santiago Iñiguez outlines the ways in which universities must move to adapt to a changing world
Higher education is experiencing what is probably its greatest transformation since universities were first conceived. Even as it is reshaped by factors such as the convergence of knowledge, it is becoming truly globalised through the impact of information and communication technologies and the internationalisation of stakeholders - students, faculty and recruiters. It is also attracting many new players, including recently established universities such as ours. What will be the climate and the challenges faced by today's academic entrepreneurs, the founders of future universities and educational pioneers?
Wilhelm von Humboldt created the template for contemporary Western universities when he organised his Berlin-based institution into schools and departments based on areas of knowledge. Previously, academic disciplines were integrated and professors rarely specialised. The reforms inspired by Humboldt have led to unparalleled progress in research and knowledge. Recently, however, this extreme specialisation has come in for criticism because of its undesirable consequence: "silo syndrome", in which academics deal only with colleagues in their subject and students gain only a narrow perspective on knowledge. Universities can combat this by restoring the value of humanities in the tradition of American liberal arts colleges. Making humanities a core part of all degrees will cement the learning experience and develop open-minded and well-rounded graduates.
Management could also form an essential component of future degrees. Behind every good professional practice, there is good management, although we notice this only when things don't work. Doctors should be able to run hospitals efficiently and provide patients with quality care. Architects should be capable of completing projects on time and under budget. Indeed, good and sustainable management should permeate all new university offerings if we want our graduates, regardless of their degrees, to improve the world.
Of course, technologies play a key role in redefining higher education. New high-quality forms of online delivery - essentially different from classical distance learning - are paving the way for revolutionary learning experiences that allow students to combine study with internships abroad. These blended educational platforms, combining face-to-face and online formats, help students develop a wider range of interpersonal skills than can be cultivated in the classroom. They also foster interaction among fellow participants and with the lecturer, thus allowing closer monitoring of students' performance than conventional tutorials.
Students will demand not universities but "multiversities" - institutions that provide a diverse and cross-cultural learning environment that mirrors students' global career paths. Again, online education allows for the creation of very international classes and intense multicultural debate. Through online social networks, students today already deal with peers from different continents with almost the same ease and familiarity they share with their parents. Web-based cross-cultural educational offerings for a global audience can only help to reduce the potential for clashes of civilisations.
Cloud technologies open many possibilities, and here new universities may benefit from a fresh start. Universities can no longer claim to be the only reservoirs of knowledge, because knowledge nowadays emanates from many different places, inside and outside academia, and passes through multifarious channels on the internet. In the new multipolar world, universities will make their unique intellectual contributions by acting as hubs for the gathering and diffusion of ideas.
As institutions adapt, so must academics. Traditionally, professors were the masters in class and the guardians of knowledge. However, the new ways of education demand that faculty perform more as orchestrators and catalysts of learning. Some academics contemplate this with fear. They don't understand today's students and dream of an Arcadia that never existed. However, universities - old and new - are called on to reinvent education, and the good news is that the best is yet to come. Source :
Santiago Iñiguez is the rector of IE University, Spain.
The past decade has seen a proliferation of business schools in Europe. But with some European countries already in recession and fears that others may follow, Europe’s myriad schools face a test of mettle.
Are they up to the challenge? Can they all survive or will some be unable to cope with a prolonged economic downturn?
Between 2pm and 3pm GMT on Wednesday December 3rd, Santiago Iñiguez, dean of IE Business School, Spain, Prof David Begg, the principal of Imperial College Business School, London and Linda Anderson, Business Education Correspondent, at the Financial Times answered questions online at:
Question 4 of 20
Taking a cue on this downturn, would it be wise for business schools to introduce Crisis Management as an elective or a core subject? Praveen Krishnamurthy, India
David Begg: Good management practices are needed in all situations, and the soundest defence to a crisis is to have good systems in place, not to make hasty ad hoc decisions
Santiago Iñiguez: Much of the teaching within business schools is not just focused on managing in good times. The business fundamentals are applicable in different contexts. In times of uncertainty it is important to remember the basics of sound business and management. Of course, in these times management tools related to issues such as cost efficiency, cash management, organizational effectiveness and flexibility become more in demand, and we do emphasise these in our programs. However we fundamentally believe that innovation through corporate venturing, new venture creation is particularly relevant in times of difficulty, as business seeks to find new approaches and new ways of creating value. Crisis provide the acid test for moulding true managers and leaders.
Linda Anderson: I think once the dust has settled many schools will see the need to introduce new topics into their programmes, especially in core areas such as accountancy.
When I ask my colleagues about the main challenges our schools face today many point at the attraction, development and retention of good faculty as one of the most serious. Indeed, today schools compete to attract those scholars who combine the best credentials in research with solid teaching skills and who also interface with the top management of respected companies. I have sometimes refer to these well-rounded academics as “kangaroos”, as opposed to “gurus”, because the former are able to jump from research to class to consultancy in large corporations, performing excellently in the three facets. Let me now further elaborate on this multifaceted type of academics by opposing two models of faculty, which I will name “Humboldtian Faculty” and “Mavens”.
“Humboldtian Faculty” was moulded at the eponymous institution in Berlin in the early Nineteenth Century and has inspired the model of academic prevalent at all Western universities in the past two hundred years. Wilhelm Von Humboldt believed that, in order to make a significant leap in the sciences and in the humanities, the career of academics should become specialised –until then, university professors may teach different discipline- and universities should be organised in schools and departments. A number of consequences for the academic profession followed over the decades and I summarise some of these features in the chart included below.
The Humboldtian Faculty model has rendered many positive results. Knowledge has experienced an unprecedented advance across the board. At the same time, a significant number of education analysts and scholars have warned about some undesirable effects of the model such as the “silos syndrome” derived from an extreme specialisation and lack of integration of both academics, teachings and research at large.
In addition, the demands from stakeholders, the formidable impact of technologies in the learning process and the origination and distribution of knowledge are transforming the role and the ideal profile of scholars. I believe that the concept of “Maven”, widely popularised by Malcolm Gladwell in his book “The Tipping Point”, can adequately illustrate what is expected from business schools’ professors today. Mavens are active gatherers of new trends, ideas and data and have the key skills of identifying which of them may transform the world.
Furthermore, they exercise the necessary influence to have these ideas diffused through other major opinion makers in society –whom Gladwell calls “connectors” and “vendors”. I include a number of characteristics of faculty as Mavens in the chart below. I hope this idea contributes to a constructive debate on how to better shape the academic profession and adapt it to current changes and demands. I do not believe that I am proposing a revolutionary change, but rather an evolutionary but significant adjustment of the role that faculty play in the modern learning process.
Every other year, the vibrant city of Shanghai becomes the venue of several major management education conferences arranged sequentially in one week. These conferences -organised, respectively, by Antai Business School, EFMD,AACSB and APBS - congregate a good sizeable number of scholars, business school officers and corporate managers, particularly from China and South East Asia.
This year, the Antai Conference –the first of the weekly intense networking events- focused on the social responsibility of business schools and I was invited to speak at the opening session. Normally, when I address issues related to business ethics or social responsibility I try to avoid the overselling of my school. I believe that if I would speak profusely about the different initiatives related to social responsibility at IE Business School I could be compared to those individuals who show off when practicing charitable deeds. In this respect I find pertinent the popular quote from the Gospels that says “when you do a charitable deed, do not sound a trumpet before you as the hypocrites do”.
Indeed, social responsibility initiatives should not be merchandised as communication or marketing tools by business school representatives. What is decisive is that those initiatives permeate the curriculum and the experience that students learn and live. Actually, students themselves should be the ones who testify if their schools and professors have influenced positively their views and lives. After all, educating is about moulding better persons, good citizens, promoting good habits and behaviour, isn´t it? If the MBA is a transformational experience, and participants learn new knowledge and acquire new skills, they should also be encouraged to improve their ethical attitudes and their business deontology. For those who may be still sceptical about the teaching and the learning of business ethics at business schools, or those who may hold the Freudian thesis that individual ethics is formed in early childhood and unchangeable afterwards, I recommend the classical and stimulating book “Can Ethics Be Taught”.
When I am asked summarily about what is the social responsibility of business schools, like I was at this Shanghai conference, I respond with a simple statement: It is nothing less than preparing leaders, managers & entrepreneurs who transform the world. Interestingly, Francis Estrada, Dean of the Asia Institute of Management in Manila, who made a very interesting presentation after mine, formulated a very similar statement.
My presentation, which you will find in the PDF attached- covered three main challenges that business schools managers have to face if they aim at achieving their social responsibility goals. First, choosing the strategic group that better suits their schools in the global context. Second, the role of business schools in the new knowledge value chain. And thirdly, the ideal profile of the faculty in order to achieve the intended results in the learning process. Many thoughts delivered at the Shanghai conference have been previously shared with the readers of this blog and I thank them for their valuable comments.
“Education is not the filling of a pail, but the lightening of a fire”, a favourite and evocative quote from the Irish poet William Butler Yeats You may disagree with me, but I hope you will acknowledge the passion for education that I try to convey in my addresses.
Gender diversity is one of the dean’s top five priorities
Three policies have helped the school raise the number of women attending its programmes: scholarships, mentoring and offering flexible ways to study, especially online
The dean recognises that the school needs to intensify its marketing and communication efforts to attract more women to the school
The ultimate aim is to reach a 50-50 gender balance
The school’s Centre for Diversity in Global Management is focusing on two areas of research: identifying the internal barriers to women advancing in business and investigating the link between gender balance and corporate profitability
The path to gender balance
Gender balance a top priority for IE's dean
They take gender diversity very seriously at IE business school in Madrid. Santiago Iñiguez de Ozoño, the school’s dean says that the issue was in fact one of his top five priorities when he began as dean four years ago.
IE's gender story in numbers
Percentage of women MBA – 36% Executive education – 39% Faculty – 31% Executive committee – 20% International board – 20% IE Executives – 43%
1. Harvard Business School (U.S.A.) 2. University of Virginia: Darden (U.S.A.) 3. IMD (Switzerland) and 3.Stanford University GSB (U.S.A.) 5. IE Business School (Spain) 6. Center for Creative Leadership (U.S.A. / Belgium / Singapore) 7. Iese Business School (Spain) 8. Columbia Business School (U.S.A.) 9. UCLA: Anderson (U.S.A.) 10. University of Western Ontario: Ivey (Canada / China)
Executive Education rankings 2008
Compare data for both open enrolment and customised executive education programmes.
Italian explorer Christopher Columbus is reputed to have spent time
in the ancient city of Segovia in Spain in the late 15th century,
postulating that, since the world was spherical, one could discover
trade routes to Asia by travelling west.
IE Higher Education, as the new institution will be called, is looking
to capture the global post-graduate and professional market, says
Santiago Iniguez, who retains his job as dean of IE Business School but
also becomes rector of IE Higher Education.
If the Ancient Roman Empire had extended its hegemony until our age, we would be living in year 2,761 “ab urbe condita” (in Latin meaning “since the foundation of the city”, in reference to Rome) and next Monday, March 24, would be marking the beginning of a new academic year, in honor to Minerva, the Roman goddess of wisdom and knowledge. Rome, however, succumbed like other empires, but Latin culture is omnipresent in Western thinking and traditions, including the way we conceive and practice education. In fact, Minerva, characterized as an owl, still appears in the brands or emblems of many educational and cultural organizations worldwide.
If you were aristocratic enough to attend your first school day in Ancient Rome, you would probably realize from the start about the weight of traditions, the importance given to your family ancestors and the deep sense of commitment to the community. “Patricians” –members of wealthy families- normally received education at home, since formal schools were only a late development in the Roman Empire and attended mostly by the less socially favoured. Education in Rome was discriminatory and attended only by men, and its main purpose could be encapsulated by the triad: “Dignitas, Pietas, Virtus” a set of values with many different meanings, but pivoting on the Ancient Roman mindset composed of ideas such as fitness, suitability, worthiness, distinction, personal reputation, moral standing, seriousness, clout, sense of duty and respect for traditions. Cicero once wrote: “Indeed, what is the life of a man if it is not related with the memories of human deeds and the lives of our ancestors”.
The education of leaders in Ancient Rome was shaped on the crucible of past traditions and community values. Most attention was given to the hard skills, whereas subjects like Rhetoric became increasingly accepted in order to succeed in public life, particularly for winning votes at the Senate -a precedent of the importance of communication skills for leaders. Incidentally, the better masters of Rhetoric were Greek, many of them slaves, since they had a long a solid tradition in the field. Sports were not core to the education of Romans but just as a way to acquire fighting skills for eventual combat.
Interestingly, formal schools in Ancient Rome were originally called “ludi” (in Latin, plural of “ludus”, meaning game). This resembles the importance given by Romans to games and enjoyment as essential to the learning process. Should we be guided by past traditions and explore ways to strengthen game-based learning in education today?
Albrecht Dürer, the renowned German artist, once referred to his colleague Joachim Patinir as “the good landscape painter”. Indeed, Patinir was one of the pioneers of this genre of painting within the early Flemish Renaissance, back at the turn of the XVI Century. I am particularly attached to Patinir since his oil on wood “Landscape with Charon Crossing the Styx” remains as one of my vivid memories from a visit to the Prado Museum when I was I child. I was particularly impressed by the subject of the work, quite pedagogical, and the intensity of its colours, the deep blue that contrasts with the sharp line of the crepuscular flax horizon.
Some days ago I was invited to speak at the conference of The Aspen Institute Italy under the topic "Merit, Not Age as a Discriminating factor", jointly organized with the Agnelli Foundation at their headquarters in Torino, Italy. The conference was preceded on the eve by an interview in the Financial Times with Mr. John Elkann , Vice-Chairman of the Fiat Group, who in fact co-chaired the plenary sessions with Mr. Mario Monti, President of Bocconi University and former Commissioner of Competition of the European Union.
When I was invited to contribute at the conference I believed that the main theme was the consequences of the ageing population phenomenon for European business. Consequently, my presentation dealt with some foreseeable measures, such as postponing the time of compulsory retirement, and some solutions from educational institutions, for example promoting entrepreneurship programs for the elderly people, since this segment of populations is experienced, skilled and in many cases have the resources to pilot new start-ups. Actually, Peter Drucker affirmed in one of his latest contributions that the fastest growing segment of future education will be programs for the mature and aged people.
However, upon discussion with my table neighbors at the starting dinner I realized that the crux of the conference centered on how to ease the access of young people to key positions at Italian institutions. Interestingly, gerontocracy is the prevalent regime at most Italian organizations, from business to politics and academia. This is largely due to traditions and culture, but is also caused by strict labor laws, lack of real internal competition and the dominant systems for selecting and promoting people at the top. Indeed, Italy has one of the highest average age ratios of leaders across the board although there are some other countries in the same cluster, like Japan.
Back at my hotel, located in the superbly restored Centro Histórico Fiat, once the reference of futuristic architecture, I redid my presentation to cover some topics related to the net generation and include some suggestions for promoting the advance of young leaders to management (see presentation attached). My main proposal was to foster the implementation of the Bologna Process at Italian universities. I believe that if Italy opens up to the cross-border movement of students, faculty and knowledge, the benign winds of international competition and global convergence will facilitate the access of young generations, Italian and foreign, to many of its institutions, thus promoting meritocracy over gerontocracy. "Non habete paura" and open your doors to true competition.