IMD Programs & Services

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®
REAL WORLD. REAL LEARNING
DEVELOPING GLOBAL LEADERS
DISCOVER IMD
Programs and services 2015–2016
IN EXECUTIVE
EDUCATION
W O R LD W IDE
Financial Times rankings
2 0 0 8 – 2 0 1 5
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IMD’s vision is to be the best in the
world at enabling the development
of successful global leaders –
individuals, teams and organizations.
WELCOME TO IMD
Watch the video: http://link.imd.org/discover-imd
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Browse through
these pages
to discover:
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THE IMD DIFFERENCE
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DEVELOPING GLOBAL LEADERS
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IMD GLOBAL LEADER INDEX
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10
13
14
15
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20
22
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PROGRAMS FOR INDIVIDUALS AND TEAMS
Global Leadership Programs
Degree Programs
Strategic Leadership Programs
Execution Leadership Programs
Stakeholder Leadership Programs
Personal Leadership Programs
Global Leadership in the Cloud Programs
Team Benefits
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PROGRAMS AND SERVICES FOR ORGANIZATIONS
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CORPORATE LEARNING NETWORK
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ALUMNI COMMUNITY
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RESEARCH AND DEVELOPMENT
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IMD WORLDWIDE
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FACULTY
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CORPORATE DEVELOPMENT TEAM
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IMD GOVERNANCE
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IMD DONORS
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IMD is constantly innovating to give
our clients the programs they need,
where and how they need them.
THE IMD
DIFFERENCE
5
WE ARE 100% FOCUSED ON REAL-WORLD
EXECUTIVE DEVELOPMENT
All IMD programs and services focus on real-world
challenges faced by executives. We work with our clients
– individuals, teams and organizations – to resolve their
issues, build capabilities and prepare for the future.
We attract outstanding Faculty members who
combine thought leadership and practical experience.
Run like a business, not only as an academic
institution, we adopt a relentlessly problem-solving
approach to create lasting value and impact.
WE OFFER SWISS EXCELLENCE
WITH A GLOBAL PERSPECTIVE
Based in Switzerland and also operating out
of key locations worldwide including our Executive
Learning Center in Singapore, IMD shares its host
nation’s commitment to excellence while offering
a unique global experience.
Consistently at the top of rankings, we are
intellectually and culturally diverse with no single
dominant nationality and no one world view.
Just look at the numbers:
» More than 8,000 executives from 98 countries
come to IMD each year
» 120 global companies choose IMD for
their customized programs each year
» Our alumni network counts more than
80,000 members and over 40 clubs worldwide
» Over 34 different nationalities represented
in the IMD Faculty and staff
» IMD is ranked FIRST in executive education worldwide
(Financial Times 2008–2015) and FIRST in open programs
worldwide (Financial Times 2012, 2013, 2014 & 2015)
WE HAVE A FLEXIBLE, CUSTOMIZED
AND EFFECTIVE APPROACH
IMD is constantly innovating to give our clients the programs
they need, where and how they need them.
Without the constraints of traditional university structures and
academic processes, we are agile and responsive. Starting from
our own pioneering approaches – such as action learning and
blended learning – our programs are adapted to address each
client’s individual challenges. Our only goal is to meet our clients’
needs as quickly, flexibly and effectively as possible.
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Global leaders shape and lead
organizational transformation journeys
in complex and uncertain environments
today and in the future.
DEVELOPING
GLOBAL LEADERS
Watch the video: http://link.imd.org/global-leader
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DEVELOPING GLOBAL LEADERS
Our vision at IMD is to be the best in the world
at enabling the development of successful global
leaders – individuals, teams and organizations.
WHAT DO WE MEAN BY GLOBAL LEADERS?
Global leaders shape and lead organizational
transformation journeys in complex and uncertain
environments today and in the future.
WHAT DO THEY DO?
Global leaders navigate complexity and uncertainty
and successfully engage multiple stakeholders
across multiple boundaries: geographic, functional,
industry, and organizational – in making organizational
transformation happen for improved and sustainable
business results.
HOW DOES IMD DEVELOP GLOBAL LEADERS?
» We help them become comfortable with the discomfort
of not having complete information, easy answers,
or obvious solutions
» We build and strengthen their capabilities in
shaping organizational transformation journeys:
to set strategic direction, translate strategy
into actions and engage with internal and
external stakeholders
» We help them develop a strong sense of themselves in
leading these organizational transformation journeys
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IMD
GLOBAL LEADER
INDEX
START PLANNING
YOUR FUTURE
LEADERSHIP
DEVELOPMENT
Get started: www.imd.org/gli
The IMD Global Leader Index is a tool for benchmarking your professional capabilities and
identifying opportunities for leadership development
IMD GLOBAL LEADER INDEX
The IMD Global Leader Index helps you know where you
stand as a global leader. It shows you how you compare
to your peers and identifies opportunities for your future
leadership development.
First, you define your professional profile and then complete
a short survey in order to discover your personal IMD Global
Leader Index score. You will identify your top competencies,
what you could improve and discover which IMD programs
and services are best for you.
You also get access to free, IMD global leader magazines
with personalized content to help you strengthen
your competencies.
You can compare your results with IMD alumni, other global
leaders and people in your LinkedIn network. Discover all
you need to know about the Global Leader Index. Watch the
90-second video here: www.imd.org/gli.
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PROGRAMS
FOR INDIVIDUALS
AND TEAMS
EXPLORE
RECOMMENDED
PROGRAMS
www.imd.org/global-leader
We address the needs of today’s executives at every stage of their career
A FOCUS ON GLOBAL LEADERSHIP CAPABILITIES
Drawing heavily on IMD thought leadership and research,
our portfolio of programs for individuals and teams
emphasizes the development and strengthening of different
global leadership capabilities to address today’s complex
business issues.
We provide comprehensive global leadership programs,
which address the whole range of these capabilities:
strategic, execution, stakeholder and personal leadership.
The essence of these programs is about improving longterm business results by creating a strategic direction,
translating it into actions, engaging internal and external
stakeholders in organizational change, and driving these
changes to a personal level.
These core global leadership programs are supported
by our portfolio of focused programs which provide depth
in these four specific areas. IMD’s strategic and execution
leadership programs focus on the hard or rational side
of global leadership. IMD’s stakeholder and personal
leadership programs focus more on the soft or emotional
side of global leadership.
All together, IMD’s programs for individuals and teams
are essential building blocks for executives to grow and
excel throughout their careers.
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GLOBAL
LEADERSHIP
PROGRAMS
Comprehensive integrative programs – addressing the whole range of global leadership capabilities
– that help executives transition to their next career stage. Specific programs are offered for
each level of management responsibility
Building on Talent (BOT)
Developing the next generation of leaders
For high-potential young managers
early in their career
Two modules of 2 weeks each with an
inter-module project and additional
pre- and post-program support
Offered three times per year in
Lausanne, Switzerland
CHF 28,000*
www.imd.org/bot
NEW
NEW
Foundations for Business
Leadership (FBL)
Transition to Business Leadership (TBL)
Accelerating mastery of
cross-functional capabilities
For experienced functional managers
aspiring to move into business
leadership positions
3 weeks (20 intensive days
including weekends)
Offered four times per year in
Lausanne, Switzerland
CHF 25,000*
Turning functional managers
into business leaders
For experienced functional
managers moving into business
leadership positions
Two modules of 2 weeks each with
additional pre-program, inter-module
and post-program distance learning
Offered three times per year in
Lausanne, Switzerland and other
key international locations
CHF 30,000*
www.imd.org/fbl
www.imd.org/tbl
*IMD reserves the right to modify the program dates,
location and fee at any time.
in open programs worldwide (Financial Times, 2012, 2013, 2014 & 2015)
Program for Executive Development (PED)
Transforming emerging global leaders
For experienced functional managers who have recently
transitioned or will soon transition into business
leadership positions
Comprises two parts, Foundations for Business Leadership
and Transition to Business Leadership – each of which can
also be taken as stand-alone programs
CHF 55,000* (FBL: CHF 25,000* + TBL: CHF 30,000*)
Advanced Strategic Management (ASM)
Driving sustainable business results
For leaders at business unit, region, division, function or
country level encountering a specific business challenge
or moving into significant leadership positions
3 weeks with additional pre- and post-program support
Offered three times per year in Lausanne, Switzerland
CHF 31,000*
www.imd.org/asm
www.imd.org/ped
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GLOBAL
LEADERSHIP
IMD is ranked
12
Breakthrough Program for Senior
Executives (BPSE)
High impact strategy and leadership
For senior managers at executive
committee, group or division level
13 days with additional pre- and
post-program support
Offered three times per year in
Lausanne, Switzerland
CHF 30,000*
www.imd.org/bpse
Orchestrating Winning Performance (OWP)
The global business program for individuals and teams
For individuals and teams from all types of organizations
6 days in Lausanne and 5 days in Singapore
Offered twice per year in Lausanne, Switzerland and Singapore
CHF 12,000* for the first participant
CHF 9,500* for each additional participant from the same company and IMD alumni
Singapore fee: SGD 16,000* for the first participant
SGD 12,800* for each additional participant from the same company and IMD alumni
Singapore program delivered by IMD Southeast Asia Pte Ltd.
GST (7%) to be added for Singapore registered companies and residents
www.imd.org/owp
*IMD reserves the right to modify the program dates,
location and fee at any time.
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GLOBAL
LEADERSHIP
in open programs worldwide (Financial Times, 2012, 2013, 2014 & 2015)
DEGREE
IMD is ranked
DEGREE
PROGRAMS
Rigorous MBA degree programs for executives at different stages of their careers
NEW
Master of Business
Administration (MBA)
The skills to know, the confidence
to act, the humility to lead
For young professionals with
strong career progression and
leadership potential
A general management program
focusing on technical competence,
self-awareness and moral judgment
11 months
Offered in Lausanne, Switzerland
CHF 85,000*
Executive Master of Business
Administration (EMBA)
IMD-CKGSB Dual Executive Master
of Business Administration (EMBA)
Never stop learning
For fast-rising, internationally
experienced executives
Lead the way between China and the world
For high-potential executives who want
to take advantage of the increasing
trade opportunities between China and
the rest of the world
Flexible, modular program combining
residential with distance learning and
global discovery expeditions, over a
minimum of 16 months
NEW Offered twice per year in
Lausanne, Switzerland;
Discovery Expeditions in India, China,
Brazil and USA
CHF 105,000*
www.imd.org/mba
An average of 18 months, combining a
minimum of 8 weeks residential with
distance learning. Core modules in
Switzerland, UK, China and a Discovery
Expedition to South Africa.
CHF 105,000*
www.imd.org/ckgsb-emba
www.imd.org/emba
®
® LEARNING
REAL WORLD. REAL
REAL WORLD. REAL LEARNING
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STRATEGIC
LEADERSHIP
PROGRAMS
Focused programs which help executives develop or strengthen their strategic mindset from
a function, process or context point of view in order to set their strategic direction for the future
Strategic Marketing in Action (SMA)
Driving Strategic Innovation (DSI)
Winning in tough markets
For mid-level to senior managers with strategic, marketing
or commercial responsibilities
Achieving high performance throughout the value chain
For senior executives and entrepreneurs who develop
and implement innovation strategies
5 days with additional pre- and post-program
distance learning
Offered twice per year in Lausanne, Switzerland
CHF 11,000*
6 days
Offered twice per year in Lausanne, Switzerland,
and Boston, USA / Kuala Lumpur, Malaysia
CHF 11,500* at IMD
USD 11,500* at MIT
www.imd.org/sma
www.imd.org/dsi
®
REAL WORLD. REAL LEARNING
*IMD reserves the right to modify the program dates, location and fee at any time.
in open programs worldwide (Financial Times, 2012, 2013, 2014 & 2015)
EXECUTION
LEADERSHIP
EXECUTION
LEADERSHIP
PROGRAMS
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STRATEGIC
LEADERSHIP
IMD is ranked
Focused programs for executives who need to develop or build on specific execution
capabilities in order to translate strategic direction into actionable results
Leading the Global Supply Chain (LGSC)
Strategic Finance (SF)
Growth through agility and efficiency
For senior supply-chain, sourcing or operations executives
Creating value through financial excellence
For senior financial and business executives
5 days
Offered twice per year in Lausanne, Switzerland
CHF 11,000*
5 days with additional pre-program distance learning
Offered twice per year in Lausanne, Switzerland
CHF 11,000*
www.imd.org/lgsc
www.imd.org/sf
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NEW
Organizational Learning in Action (OLA)
Leading Digital Business Transformation (LDBT)
Executing strategy through world-class learning
and development
For senior learning leaders
Leveraging digital innovations to transform your business
For business leaders and senior managers
5 days with additional pre- and post-program support
NEW Offered twice per year in Lausanne, Switzerland
and Singapore
CHF 9,000* in Lausanne, Switzerland
SGD 11,500* full residential package in Singapore
SGD 10,650* non-residential package in Singapore
Singapore program delivered by IMD Southeast Asia Pte Ltd.
GST (7%) to be added for Singapore registered companies
and residents
Special team offer: fourth participant from the same company free
5 days with additional pre-program support
Offered twice a year in Lausanne, Switzerland
and Singapore
CHF 10,000*
SGD 13,500*
Singapore program delivered by IMD Southeast Asia Pte Ltd.
GST (7%) to be added for Singapore registered companies
and residents
www.imd.org/ldbt
www.imd.org/ola
*IMD reserves the right to modify the program dates, location and fee at any time.
IMD is ranked
in open programs worldwide (Financial Times, 2012, 2013, 2014 & 2015)
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Designed to boost the performance of executives, each of these programs looks at how to
engage with and manage specific stakeholder groups
NEW
Negotiating for Value Creation (NVC)
For executives who wish to sharpen their negotiation skills
3 days with additional post-program support
Offered twice per year in Lausanne, Switzerland
CHF 6,000*
www.imd.org/nvc
Sustainability Leadership in Action (SLA)
Integrating sustainability at the heart of your business strategy
For mid-level to senior managers from various
business functions
4 days
Offered once per year in Lausanne, Switzerland
CHF 9,500* for the first participant
CHF 8,500* for each additional participant from
the same organization, for IMD alumni and for
CSL Learning Platform members
www.imd.org/sla
STAKEHOLDER
LEADERSHIP
EXECUTION
LEADERSHIP
STAKEHOLDER
LEADERSHIP
PROGRAMS
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Leading the Family Business (LFB)
Leading the Family Office (LFO)
Assuring the continuity of family enterprises
For all members of business-owning families as well as senior non-family executives
and board members
Creating it, governing it,
preserving it
For all members of families
of wealth exclusively
6 days at OWP/LFB Lausanne
5 days at OWP/LFB Singapore
Offered twice per year in Lausanne, Switzerland
and in Singapore
CHF 12,000* for the first participant
CHF 9,500* for each additional participant from the same
team and IMD alumni (includes participation in OWP)
Singapore fee: SGD 16,000* for the first participant
SGD 12,800* for each additional participant from the
same company and IMD alumni
Singapore program delivered by IMD Southeast Asia Pte Ltd.
GST (7%) to be added for Singapore registered companies
and residents
4.5 days as a stand-alone
program (LFB)
Offered once per year in
Lausanne, Switzerland
CHF 10,500* for the
first participant
CHF 9,250* for each
additional participant from
the same team and for
IMD alumni
www.imd.org/lfb
3 days
Offered once per year in
Lausanne, Switzerland
CHF 11,000* for the
first participant
CHF 9,750* for each additional
participant from the same
family and IMD alumni
www.imd.org/lfo
in open programs worldwide (Financial Times, 2012, 2013, 2014 & 2015)
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STAKEHOLDER
LEADERSHIP
IMD is ranked
NEW
The Next Generation (TNG)
High Performance Boards (HPB)
Developing young leaders in family business and governance
For young family members
How board directors make a real difference
For supervisory board members and chairpersons
Two modules of 2 weeks each with additional pre- and postprogram support
Offered once per year with Module 1 in Lausanne,
Switzerland and Module 2 in Singapore
CHF 30,000*
3.5 days with additional pre- and post-program support
Offered twice per year in
Lausanne, Switzerland
CHF 11,500*
Special team offer: fifth participant from the same board free
www.imd.org/tng
*IMD reserves the right to modify the program dates,
location and fee at any time.
www.imd.org/hpb
Board-Readiness Coaching (BRC)
Learn more at: www.imd.org/boardcenter
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PERSONAL
LEADERSHIP
PROGRAMS
Focused programs to help executives develop or strengthen self-awareness, ethical,
interpersonal and team leadership capabilities in order to shape and drive change
at a personal level
Strategies for Leadership (SL)
Mobilizing People (MP)
Empowering women executives
For senior and upper middle level female executives
Leading with impact
For experienced managers
4 days with additional pre- and post-program support
Offered twice per year in Lausanne, Switzerland
CHF 10,000*
10 days with additional pre- and post-program support
Offered three times per year in Lausanne, Switzerland
CHF 23,000*
www.imd.org/sl
www.imd.org/mp
*IMD reserves the right to modify the program dates, location and fee at any time.
in open programs worldwide (Financial Times, 2012, 2013, 2014 & 2015)
High Performance Leadership (HPL)
Advanced High Performance Leadership (AHPL)
Listen, influence, impact
For experienced executives
A unique retreat for HPL alumni
6 days with additional pre-program support
Offered eight times per year in Lausanne, Switzerland;
Hong Kong, China; Sao Paulo, Brazil and Santa Cruz, USA
CHF 13,500*
5 days
Offered once per year in Gstaad, Switzerland
CHF 8,500*
www.imd.org/ahpl
www.imd.org/hpl
Personalized Executive Coaching (PEC)
Learn more at: www.imd.org/pec
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PERSONAL
LEADERSHIP
IMD is ranked
22
NEW flexible, cloud-based programs,
with personalized feedback from a coach
at each learning step.
GLOBAL
LEADERSHIP
IN THE CLOUD PROGRAMS
www.imd.org/glc
IMD Global Leadership in the Cloud programs are available to individuals and corporations.
Ideal for business professionals with around 6–10 years’ experience. For further information,
contact a Program Advisor at +41 21 618 07 00 or at info@imd.org
» Get personalized feedback from a coach
at each learning step
» Work on an individual action
learning project and apply what
you learn each week to your
current business challenges
» Network and learn with a select group of
accomplished business professionals
» Earn an IMD executive
education certificate
» Become an IMD alumnus/alumna
IMD is ranked
in open programs worldwide (Financial Times, 2012, 2013, 2014 & 2015)
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GLOBAL LEADERSHIP
Leading Strategic Initiatives (LSI)
For executives responsible for leading and implementing
strategic initiatives within their organization
8 weeks
Offered twice a year
STRATEGIC LEADERSHIP
Being Innovative (BI)
For leaders who are struggling to think strategically
in a fast-moving world and need to find innovative
solutions to new and evolving scenarios
8 weeks
Offered twice a year
Strategic Thinking (ST)
Global Leadership in the
Cloud programs
CHF 3,900*
CHF 3,500* IMD alumni
Complimentary seats available for
Corporate Learning Network members
www.imd.org/glc
For executives who are taking over increasingly significant
strategic responsibilities within their organization and who
are grappling with the challenges of thinking strategically
8 weeks
Offered twice a year
STAKEHOLDER LEADERSHIP
Leveraging Strategic Partnerships (LSP)
For executives responsible for setting up or managing
strategic partnerships or alliances in their
own organization
8 weeks
Offered twice a year
EXECUTION LEADERSHIP
Finance Fundamentals for Executives (FFE)
For executives seeking a comprehensive review
of financial analysis and managerial finance
8 weeks
Offered twice a year
For individuals, teams and B2B companies who want
to gain a deeper understanding of value-based pricing
and develop their critical pricing capabilities
8 weeks
Offered twice a year
PERSONAL LEADERSHIP
Learning Leadership (LL)
For executives who are taking on greater leadership
responsibilities and need to work through others
to build personal and team success
8 weeks
Offered twice a year
*IMD reserves the right to modify the program dates, location and fee at any time.
GLOBAL LEADERSHIP
IN THE CLOUD
Pricing Excellence in Tough B2B Markets (PE)
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TEAM
BENEFITS
While our portfolio of programs is mainly designed with the individual participant in mind,
many programs offer added benefits to teams of executives from the same company
» Customize the program around
a corporate team task
» Work on a specific corporate
challenge in a neutral setting and
with IMD Faculty support
» Use the program as a launch pad
for an organizational improvement
or change project
» Bring together managers from different
units or regions to develop a common
approach and language
PROGRAMS BEST SUITED FOR TEAM PARTICIPATION
» Advanced Strategic Management
» Building on Talent
» High Performance Boards
» High Performance Leadership
» Leading the Family Business
» Leading the Family Office
» Orchestrating Winning Performance
» Organizational Learning in Action
» Program for Executive Development
» Strategic Marketing in Action
We also offer customized programs to company teams;
see Programs and Services for Organizations, page 26.
IMD is ranked
in open programs worldwide (Financial Times, 2012, 2013, 2014 & 2015)
25
group is just a group with the same goal or theme.
A
A tribe comes together around the same core beliefs,
mindsets and speaks the same language. For us at
Aramex, the “Ouchy tribe” formed during IMD’s
Advanced Strategic Management program.
The experience forced us to open up, trust each other
and come together as a tribe.
Mohammad Alkhas | CEO GCC Aramex | United Arab Emirates
Mohammad participated in ASM with several other senior colleagues from Aramex
Fraser Halscheid | Vice President, Sales | Galderma Laboratories | Switzerland
Fraser participated in OWP with other senior colleagues from Galderma
TEAM
BENEFITS
IMD’s Orchestrating Winning Performance
allowed us to connect as an executive team
and work on true strategy, which is very
difficult in our daily business lives.
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PROGRAMS AND
SERVICES FOR
ORGANIZATIONS
DEVELOPING PEOPLE, TRANSFORMING ORGANIZATIONS
In the crowded world of customized program design and
delivery, IMD stands out as a world leader and pioneer.
Working together with top organizations worldwide and
their CEOs, division CEOs or learning and talent executives,
IMD brings insights, tools and mindsets that help the
organization deal with its real issues and challenges to
enhance learning and create positive business impact.
EXAMPLES OF HOW IMD CAN HELP YOUR ORGANIZATION
Leadership, Culture and Transformation
Assessments
Leadership Development Programs
» Develop leadership capabilities
to match your organization’s
strategic issues and challenges
Business Transformation Programs
» Support, challenge and cascade the
transformation in the organization
Learning and Development Services
» Consulting services to corporate universities
» Personalized executive coaching services
Contact a member of the Partnership
Programs team to discuss how
IMD can help your business at:
IMDPartnershipPrograms@imd.org
or +41 21 618 04 67.
3
2
» Together, with IMD’s world class Faculty and coaches,
you will co-create a learning or transformation journey
that focuses around the real issues and challenges that
the organization faces
» Each program or service is highly customized and flexible,
offering a diversity of learning methodologies and delivery
methods to help the organization fundamentally rethink
and transform, and with take-away action plans for
immediate implementation
Reasons to
choose IMD:
» All programs and services can come with follow-up
and evaluation to ensure your organization’s long-term
evolution towards new levels of success
» Programs and services are delivered worldwide either
face to face at the location of your choice, or through
IMD’s virtual campus online
CURRENT CLIENTS INCLUDE:
The Maersk Group
ABB
Abu Dhabi National Oil Company
Actelion
Addax
Adecco
Aggreko
Agricultural Bank of China
Akzo Nobel
Aryzta
Asahi Glass
ASML Netherlands
Assa Abloy
Assicurazioni Generali
AXA Group
BAE Systems
Bank of Tokyo-Mitsubishi
BASF
Bayer
Borealis
British American Tobacco
Carrefour
CEO Organisation
China Minsheng Bank
www.imd.org/pp
China Investment Corporation
Cisco Systems
CLP Holdings
CMS
Coca-Cola Hellenic
Cofra
Copenhagen Airports
Daimler
Danske Bank
Diwan of Royal Court
DNB ASA
DSM
Electrolux
Enterprise Ireland
Evonik Industries
Febraban
Franke
FrieslandCampina
Gea Group
Gearbulk
Geberit
Grosvenor
Groupe SEB
Grupo Santander
Heerema Group
Hempel
Hilti Corporation
Hitachi
MT Hojgaard
Holcim
Honda
Hong Leong Group
HSBC
Iberdrola
Japan Tobacco International
Julius Baer Group
KGHM Polska Miedz
Kone
KPN
Kuwait Petroleum Corporation
Lego
Liberty Global
Lindt and Sprüngli
Lufthansa
Mandiri Bank
Mapfre
Mars
Merchant Bank of China
NCC International
Nigerian National Petroleum
Novartis
NTT
OMV
Ooredoo
Permodolan Nasional Berhad
Pernod Ricard
Philip Morris International
PwC
PT Pelabuhan Indonesia II
Randstad
Richemont
Rockwool
Safran Group
Sandvik
Sanofi
Saudi British Bank
Schüler
Securitas
Securities Commission Malaysia
Shell
SHV
Sibur
Sika
Skanska
SNCF
Stora Enso
Sumitomo Corporation
Sweco
Syngenta
Temasek
Thai Listed Companies
The Albatha Group
ThyssenKrupp
Trelleborg
TUI
UAC of Nigeria
UEFA
Unicredit
Valmet
Veolia
Wartsila Corporation
Yazaki Corporation
PROGRAMS AND SERVICES
FOR ORGANIZATIONS
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CORPORATE
LEARNING
NETWORK
FLEXIBLE LEARNING, GLOBAL EXCHANGE
IMD’s Corporate Learning Network enhances
individual and organizational development by providing
member organizations and their executives with
access to virtual and blended learning services, digital
programs, face-to-face events and forums for best
practice exchange. Each individual can construct
their own personal portfolio of learning based on
their specific learning needs, their developmental
objectives and their preferred learning styles.
CORPORATE LEARNING
NETWORK
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BECOME PART OF AN EXCLUSIVE COMMUNITY FOCUSED ON FLEXIBLE LEARNING AND GLOBAL EXCHANGE.
THE CORPORATE LEARNING NETWORK IS GROUPED INTO 6 MAIN AREAS:
GLOBAL LEADERSHIP IN THE CLOUD PROGRAMS
Global Leadership in the Cloud provides flexible, cloudbased programs, with personalized feedback from a coach
at each learning step. Ideal for business professionals with
around 6–10 years’ experience.
DISCOVERY EVENTS
Intensive 1.5-day working sessions with the latest research
from IMD Faculty.
IMD’S CXO ROUNDTABLES
CEO, CIO, CFO, CMO, CLO
EXECUTIVE EDUCATION ADVISORY COUNCIL
The Executive Education Advisory Council is an advisory
board which brings together heads of management
development, CLOs and VP human resources to review,
shape and influence IMD’s teaching and research activities.
Four membership levels are available:
GLOBAL KNOWLEDGE PLATFORMS
The Global Knowledge Platforms provide access to
aggregated knowledge (articles, reports and videos) from
IMD and a wide range of business sources across the globe.
» Strategic Partner
» Senior Partner
» Partner
» Business Associate
IMD WORLD COMPETITIVENESS ONLINE
World Competitiveness Online is a unique and
comprehensive database on the competitiveness of nations
with relevant data spanning more than 25 years.
www.imd.org/cln
30
ALUMNI
COMMUNITY
LIFELONG LEARNING, POWERFUL BUSINESS NETWORKS
Completing an IMD program is just
the beginning. As a former participant
in an IMD program, you have access
to a number of alumni benefits.
Right:
The 1990 MBA class
celebrates their 25th year
anniversary. This was
the first class to study
for the IMD MBA.
Exclusive network of global executives
80,000 executives in 140 countries
11,000 board level and C-suite
In an increasingly interconnected and uncertain business
environment, our aim is to support you in developing the
skills, resources and contacts you need, to impact your
organization and the world at large. We are a close-knit,
yet far-reaching global learning community whose mission
is to support and accelerate your global leadership journey
beyond your program experience with us.
We do this through two main pillars: Lifelong Learning and
Powerful Business Networks.
LIFELONG LEARNING
Access relevant, cutting-edge and real world business
knowledge at any point in your life and career.
» Continued Education
» IMD Thought Leadership
» Market Intelligence
» Wednesday Webcasts
POWERFUL BUSINESS NETWORKS
Engage with your Alumni network. Form unique
connections with other like-minded business executives.
» Alumni Clubs
» Alumni Directory
» Alumni Events and Reunions
» Alumni Online Communities
www.imd.org/alumni
ALUMNI
COMMUNITY
31
32
RESEARCH
AND
DEVELOPMENT
NEW KNOWLEDGE, SUPERIOR LEARNING
IMD’s research embodies our Real World, Real Learning philosophy.
Our goal is to conduct state-of-the art research to enhance management
knowledge and continuously push the boundaries, while addressing in a
very practical way the key challenges that executives are facing in their
own businesses. More than 100 research projects and initiatives are
ongoing at any time, ensuring that our classroom material is constantly
updated with new ideas and insights. Each project is led by one or several
IMD Faculty members who work closely with executives.
Above:
Axiom business book
awards in 2015
In the last five years, IMD Faculty members and research teams have won 55 awards and generated
more than 3,000 new research outputs including 698 case studies, teaching notes and other
supplementary material, 63 books, 57 book chapters and more than 230 contributions in high-profile
management journals. We also communicated our research insights through 450 Tomorrow’s
Challenges, 46 insights@IMD and more than 1,240 articles published in elite, popular and online journals.
www.imd.org/research/publications
We also carry out agenda-setting research in a number of specific areas.
IMD has provided board education
for more than 35 years, helping the
boards of leading organizations to
boost their performance. The IMD
Global Board Center takes this
a step further, bringing together
world-class thought leadership
and best practices from around the
globe to support long-term business
success through a strong board.
The IMD Global CEO Center assists
CEOs in their efforts to positively
impact their firm’s performance.
Ben Bryant, IMD Professor of Leadership
and Organization, has recently been
appointed as Kristian Gerhard Jebsen
Chair for Responsible Leadership in
the Maritime Industry, and as Director
of the IMD Global CEO Center.
IMD’s Global Family Business Center
has worked with leading business
families from around the world for
over a quarter of a century. As a
recognized center of excellence,
it offers extensive expertise, highly
relevant research and a wide range
of educational offerings and events
that provide cutting-edge insights to
entrepreneurial families.
www.imd.org/ceo
www.imd.org/boardcenter
www.imd.org/gfbc
RESEARCH
AND DEVELOPMENT
33
The Global Value Chain Center (VC2020)
focuses its research on big data and
value chains. Big data is expected to
transform value chains fundamentally,
generating many potential
opportunities that still do not have
a clear implementation framework.
We are now starting to see a growing
need to apply value chain concepts to
big data. The outcome of the VC2020
research will be also published as a
book in 2015.
The IMD World Competitiveness Center
is the world pioneer in the study of the
competitiveness of nations. The center
focuses on supporting government and
corporate decision making, through
special reports, executive programs
and its reference publication – the IMD
World Competitiveness Yearbook.
www.imd.org/wcc
The Global Center for Digital Business
Transformation is an IMD and Cisco
initiative which combines Cisco’s
leadership in providing technology
solutions for the Internet of Everything
(IoE) with IMD’s expertise in developing
global leaders. By conducting original
research, the Global Center for Digital
Business Transformation will work to
define digital business transformation,
what it means for companies today,
and how to stay relevant in today’s
competitive marketplace.
www.imd.org/vc2020
http://global-center-digitalbusiness-transformation.imd.org/
34
IMD
WORLDWIDE
SERVING CLIENTS ACROSS THE GLOBE
In addition to our campuses in Lausanne,
Switzerland and Singapore, IMD delivers
programs and services from other
key locations around the world.
Credit: NASA Earth Observatory, The Visible Earth http://visibleearth.nasa.gov/
35
IMD Campus
IMD
WORLDWIDE
Open Enrollment and Degree Programs
Alumni Clubs
IMD has recently opened a new Executive Learning Center
in Singapore, as well as proactively pursuing further
opportunities in other markets such as China, India,
Japan, the Middle East, Brazil and the USA.
We already offer select programs in Boston and Santa Cruz,
USA, Hong Kong, China, Sao Paulo, Brazil and Singapore,
and host a variety of events and activities in a large number
of other locations. Where appropriate we establish highly
focused, non-exclusive partnerships with other leading
organizations to deliver specific programs and events.
Our Alumni Clubs also offer regular learning and networking
events at up to 40 locations on six continents.
View from our new Executive Learning Center in Singapore
36
FACULTY
www.imd.org/faculty
RECOGNIZED WORLD AUTHORITIES
IMD’s Faculty members balance teaching, research and working
with leading international companies to stay on top of the latest
management thinking and trends. Their global view, keen insights
and concrete understanding of business challenges ensure thought
leadership and real-world learning in the class room.
Shlomo Ben-Hur
Israeli | American
Leadership, Talent Management
and Corporate Learning
PhD Humboldt University of Berlin
Ralf Boscheck
German
Lundin Family Professor of
Economics and Business Policy
PhD Hochschule St. Gallen
Cyril Bouquet
French | Canadian
Strategy
PhD Richard Ivey School of Business,
University of Western Ontario
Carlos A. Primo Braga
Brazilian
International Political Economy
PhD University of Illinois at
Urbana‑Champaign
Arturo Bris
Spanish
Finance
PhD INSEAD
Ben Bryant
British | Australian
Leadership and Organization
PhD London Business School
Bettina Büchel
German | Swiss
Strategy and Organization
PhD University of Geneva
Salvatore Cantale
Italian
Finance
PhD INSEAD
Bala Chakravarthy
American | Indian
Strategy and
International Management
DBA Harvard Business School
Goutam Challagalla
American | Indian
Marketing and Strategy
PhD University of Texas at Austin
Robert S. Collins
British
Manufacturing Management
and Strategy
DBA Kelley School of Business,
Indiana University
Margaret Cording
American
Strategy
Regional Director of IMD Southeast
Asia and Oceania PhD Darden Graduate School of
Management, University of Virginia
Dominique Turpin
French | Swiss
Nestlé Professor
President of IMD
PhD Sophia University (Tokyo)
Carlos Cordon
Spanish
LEGO Professor of
Supply Chain Management
PhD INSEAD
Didier Cossin
Swiss | French
Finance and Governance
PhD Harvard University
Daniel Denison
American
Organization and Management
PhD University of Michigan
Jean-Philippe Deschamps
French
Technology and
Innovation Management
MBA INSEAD and
Harvard Business School
Charles Dhanaraj
American | Indian
Strategy and Global Leadership
PhD Richard Ivey School of Business,
University of Western Ontario
Joseph J. DiStefano
Canadian
Organizational Behavior
and International Business
PhD Cornell University
James C. Ellert
Canadian
Finance and Strategy
PhD University of Chicago
Albrecht Enders
German
Strategy and Innovation
PhD Leipzig Graduate School
of Management
Nuno Fernandes
Portuguese
Finance
PhD IESE Business School
Bill Fischer
American
Innovation Management
DBA George Washington University
Stéphane Garelli
Swiss
World Competitiveness
PhD University of Lausanne
Xavier Gilbert
French
Strategy
DBA Harvard Business School
Georges Haour
French
Technology and
Innovation Management
PhD University of Toronto
James E. Henderson
Canadian
Strategic Management
PhD INSEAD
Robert Hooijberg
Dutch
Organizational Behavior
PhD University of Michigan
Kazuo Ichijo
Japanese
Organizational Behavior
and Management
PhD University of Michigan
Tawfik Jelassi
French and Tunisian
Strategy and Technology
Management
PhD Stern School of Business,
New York University
Kamran Kashani
Iranian | Swiss
Marketing
DBA Harvard Business School
Denise H. Kenyon-Rouvinez
Swiss | American
Wild Group Professor of
Family Business
PhD HEC Lausanne
J. Peter Killing
Canadian
Strategy
PhD University of Western Ontario
George Kohlrieser
American
Leadership and
Organizational Behavior
PhD Ohio State University
Jean-Pierre Lehmann
French | American
International Political Economy
PhD Oxford University
Benoît F. Leleux
Belgian
Stephan Schmidheiny Professor
of Entrepreneurship and Finance
PhD INSEAD
Thomas Malnight
American
Strategy and General Management
DBA Harvard Business School
Donald A. Marchand
American
Strategy Execution and
Information Management
PhD University of California
Martha Maznevski
Canadian
Organizational Behavior
and International Management
PhD University of Western Ontario
Seán A. Meehan
Irish
Martin Hilti Professor of
Marketing and Change Management
PhD London Business School
Stefan Michel
Swiss
Marketing and Service Management
Dr. oec. publ. University of Zurich
FACULTY
37
38
Amit Mukherjee
American and Indian
Professor of Leadership and
Strategy
DBA, Harvard Business School
Anand Narasimhan
British | Indian
Shell Professor of Global Leadership
PhD Vanderbilt University
Winter Nie
American | Chinese
Operations and
Service Management
PhD University of Utah
Mikołaj Jan Piskorski
American | Polish
Strategy and Innovation
PhD Harvard University
Phil Rosenzweig
American
Strategy and
International Management
PhD The Wharton School,
University of Pennsylvania
Joachim Schwass
German
Family Business and
Entrepreneurship
PhD University of Fribourg
Ralf W. Seifert
German | Swiss
Operations Management
PhD Stanford University
Leif M. Sjöblom
Finnish
Financial Management
PhD Stanford University
Paul Strebel
Swiss | South African
Governance and Strategy
PhD Princeton University
Francisco Szekely
Mexican
Sandoz Family Foundation
Professor of Global Leadership
and Sustainability
PhD Washington University
Ginka Toegel
German
Leadership
PhD Leipzig University and
London Business School
Dominique Turpin
French | Swiss
Nestlé Professor
President of IMD
PhD Sophia University (Tokyo)
Michael Wade
British | Canadian
Cisco Chair in Digital Business
Transformation
PhD Richard Ivey School of Business,
University of Western Ontario
John Walsh
Irish
Marketing
PhD Cornell University
Michael Watkins
Canadian
Leadership and
Organizational Change
PhD Harvard University
John Weeks
American
Organizational Behavior
PhD MIT Sloan School
of Management
Michael Yaziji
American
Strategy
PhD INSEAD and
University of California
Howard H. Yu
Chinese (Hong Kong)
Strategic Management
and Innovation
DBA Harvard Business School
39
CORPORATE
DEVELOPMENT
TEAM
GUIDANCE ON EXECUTIVE LEARNING AND DEVELOPMENT
IMD’s Corporate Development Team has extensive experience in executive
development and works directly with our corporate customers worldwide.
If you would like guidance on your executive learning and development
requirements, please contact the person responsible for your market.
IMD Corporate Development Directors
and Associate Directors
Christophe Touton
Executive Director
Client and Market Development
Markets (acting): Austria and Switzerland (German speaking)
christophe.touton@imd.org
Stephanie Comenge
Simon Craft
Benoit Hirszowski
Markets: Germany and Latin America Markets: Southeast Asia and Oceania Markets: France and Switzerland
stephanie.comenge@imd.org
simon.craft@imd.org
(French speaking)
benoit.hirszowski@imd.org
Stein Jacobsen
Yvonne Ho
Markets: Southeast Asia and Oceania Markets: UK and South Europe
stein.jacobsen@imd.org
yvonne.ho@imd.org
Katarina Leger
Markets: The Nordic countries
katarina.leger@imd.org
Viktor Lolev
Markets: Central & East Europe
and Russia
viktor.lolev@imd.org
Meta Wilde
Markets: Benelux
meta.wilde@imd.org
IMD Representative
Target Development GmbH
Hischam El-Agamy
Markets: Africa, Middle East, Turkey
and South Central Asia
hischam.elagamy@imd.org
IMD Representative
Naoshi Takatsu and Associates
Naoshi Takatsu
Markets: Northeast Asia
naoshi.takatsu@imd.org
Isabelle Xia
Market: China
isabelle.xia@imd.org
CORPORATE
DEVELOPMENT TEAM
Spike Braunius
Markets: North America
spike.braunius@imd.org
40
IMD
GOVERNANCE
IMD’S ULTIMATE GOVERNING BODIES
Comprised of key stakeholders – including CEOs from companies
with which IMD has strong learning partnerships, members
of other academic institutions and IMD Faculty – the IMD
Foundation Board and IMD Supervisory Board are responsible
for governance at IMD as well as ensuring we remain relevant
to the evolving needs of the global corporate community.
IMD FOUNDATION BOARD
The role of the Foundation Board is to
take all useful measures to administer
and represent IMD and generally, all steps
permitting IMD to achieve its objectives.
At their annual meeting in November,
IMD Foundation Board members approve
IMD’s overall strategic direction and the
financial results and elect board members.
IMD SUPERVISORY BOARD
The Foundation Board appoints the Supervisory
Board from among its members to support,
challenge and supervise IMD’s operations.
The Supervisory Board has the overall
responsibility for IMD’s vision, strategy and
management to support its success in the
market place.
www.imd.org/governance
Laurent Abadie
Panasonic Europe LTD
Chairman and Chief Executive Officer
Dennis Jönsson
Tetra Pak International SA
Chief Executive Officer and President
Urs Rohner
Credit Suisse Group AG
Chairman of the Board of Directors
Patrick Aebischer
Swiss Federal Institute of Technology (EPFL)
President
Jouko Karvinen
Nokia Corporation
Member of the Board of Directors
and Vice Chairman
Member of IMD Supervisory Board
Urs Schaeppi
Swisscom AG
Chief Executive Officer
Tim Andree
Dentsu Aegis Network
Executive Chairman
Dentsu Inc.
Executive Vice President
and Member of the Board
Dominique Arlettaz
Université de Lausanne
Recteur
Steven Baert
Novartis International AG
Head Human Resources
and Member of the Executive Committee
Paul Bulcke
Nestlé SA
Chief Executive Officer
Hans-Paul Bürkner
The Boston Consulting Group GMBH
Chairman
Niels Bjorn Christiansen
Danfoss A/S
President and Chief Executive Officer
Hanne de Mora
a-connect (group) AG
Chairwoman
Michel Demaré
Syngenta AG
Chairman
Member of IMD Supervisory Board
Henrik Ehrnrooth
Kone Corporation
President and Chief Executive Officer
Jørgen Vig Knudstorp
LEGO Group
Chief Executive Officer and President
Adrian Lajtha
Accenture
Chief Leadership Officer
Nigel Lewis
Caterpillar
Vice President EAME Distribution
Services Division
Michel Liès
Swiss Reinsurance Company LTD
Group Chief Executive Officer
Thomas Schmidheiny
Spectrum Value Management LTD
Chairman
Severin Schwan
F. Hoffmann – La Roche AG
Chief Executive Officer
Feike Sijbesma
Royal DSM NV
Chief Executive Officer
and Chairman of the Managing Board
Woods Staton
Arcos Dorados
Chairman and Chief Executive Officer
Thierry Lombard
Nahed Taher
Gulf One Investment Bank
Founder and Chief Executive Officer
Christoph Loos
Hilti Corporation
Chief Executive Officer
Dominique Turpin
IMD
President
Wendy Luhabe
Social Entrepreneur WIPHOLD/WPEF
Founder and Chairman
Member of IMD Supervisory Board
Robert Uggla
Svitzer A/S
Chief Executive Officer
Anne-Catherine Lyon
Vaud State Government
Head of Department of Education
and Youth Development
Hugh Mitchell
Royal Dutch Shell PLC
Chief Human Resources
and Corporate Officer
Arif Naqvi
The Abraaj Group
Founder and Chief Executive
Harry van Dorenmalen
IBM Nederland BV
Chairman IBM Europe
General Manager IBM Benelux
Penelope Warne
CMS Cameron McKenna LLP
Senior Partner
Axel Weber
UBS AG
Chairman of the Board of Directors
Eric Elzvik
ABB LTD
Group CFO
Damien O’Brien
EgonZehnder
Chairman
Member of IMD Supervisory Board
John Weeks
IMD
Professor of Leadership
and Organizational Behavior
IMD Faculty Representative
to the Foundation Board
Bernard Fontana
Holcim
Chief Executive Officer
Marcelo Odebrecht
Odebrecht SA
Chief Executive Officer
Poul Weihrauch
Mars Inc.
Global President Petcare
Werner Geissler
Advent International Corporation
Operating Partner
Member of IMD Supervisory Board
Alain Pons
Deloitte
Chief Executive Officer Deloitte France
Member of the Deloitte Global Executive
Committee and Board of Directors
Jackie Wong
Temasek Trust
Chief Executive Officer
Temasek Management Services
Chief Executive Officer
and Executive Director
Member of IMD Supervisory Board
Harsh Goenka
RPG Enterprises
Chairman
Pieter Heerema
Heerema International Group Services SA
President
Ian Hudson
DuPont de Nemours International SARL
President Europe, Middle East and Africa
Erich Hunziker
BB Biotech
Chairman
Member of IMD Supervisory Board
Wilfried Porth
Daimler AG
Member of the Board of Management
Bo Risberg
Valmet Corporation
Chairman
Vice-Chairman of IMD Foundation
and Supervisory Boards
Peter Wuffli
elea Foundation for Ethics in Globalization
Chairman
Chairman of IMD Foundation
and Supervisory Boards
Carlos Rivera
MRI Network Latin America
Chief Executive Officer
IMD Alumni Representative to the
Foundation Board
Markus Neuhaus (IMD guest)
PricewaterhouseCoopers AG
Chairman of the Board of Directors
of PwC Switzerland
IMD
GOVERNANCE
Abdul Razak Ali Issa
Bank Muscat (SAOG)
Chief Executive
41
42
Discover the 2015 calendar with all
the dates of IMD’s latest programs
for individuals and teams.
VISIT
www.imd.org/programs-calendar
TALK
WITH US
Contact a Program Advisor to discuss
how IMD can help you and your business
at +41 21 618 07 00 or at info@imd.org
THANK YOU
Our deepest thanks to IMD’s friends and donors for
their generous gifts. Your investment in IMD has a
tremendous impact. It contributes directly to fulfilling
human potential and future business success.
PROFESSORIAL CHAIRS
The Alcan Chair
Environment
The Cisco Chair
Digital Business Transformation
The Coca Cola Chair
Consumer Insights and Customer Marketing
The Dentsu Chair
Japanese Management
The elea Foundation Chair
Social Innovation
The Hilti Chair
The Sandoz Family Foundation Chair
Marketing and Change Management Leadership and Sustainability
The Kristian Gerhard Jebsen Chair
The Stephan Schmidheiny Chair
Responsible LeadershipEntrepreneurship and Finance
The Lego Chair
The Shell Chair
Business Models and Value Chain
Sustainable Business Growth
The Lundin Family Chair
The UBS Chair
Energy Policy and Economics
Banking and Financial Services
The Nestlé Chair
The Wild Family Chair
Strategy
Family Business
IMD CIRCLE AND CLUB MEMBERS
Circle
Peter von Muralt
Tarang Jain
Anonymous
Anonymous
Venkatesh Tulluri
Member
Member
Member
Member
Member
IMD Circle
Pledges of CHF 100,000 and above
PED 1980
MBA 1987
MBA1992
MBA1997
MBA 1999
Club
Jay Mehta
Roderick MacLeod
Tamer Talaat Manel Adell
Songhua Tu
Jonas Ramm
Suzanne Klatten
Hans Petter Mellerud
Alan Mcintyre
André Allain
Graeme Chipp
Peter Gotzler
Joon Choi Walter Lee
Alain Depuydt
Art Uprety
Dong Xia
Marie-France Tschudin
Khadija Hasanova
Timm Oberwelland
Marije van Weelden-Cuche
Joan Beets
Platinum
Gold
Gold
Gold
Gold
Silver
Silver
Silver
Silver
Bronze
Bronze
Bronze
Bronze
Bronze
Bronze
Bronze
Bronze
Bronze
Bronze
Bronze
Bronze
Bronze
IMD Club
Platinum
Gold
Silver
Bronze
CHF 50,000
CHF 25,000
CHF 10,000
CHF 5,000
MBA 1991
MBA 1980
MBA 1987
MBA 1994
MBA 1998
MBA 1981
MBA 1988
MBA 1990
MBA 1992
MBA 1984
MBA 1987
MBA 1987
MBA 1993
MBA 1993
MBA 1999
MBA 1999
MBA 1999
MBA 2000
MBA 2005
MBA 2005
MBA 2010
MBA 2012
The IMD Club and the IMD Circle have been created to thank individual donors according to their level of support. Specific recognition
programs offer networking opportunities, dedicated events, donor profiles in alumni news and visibility on different institutional supports.
IMD is ranked
in executive education worldwide
(Financial Times 2008–2015) and
in open programs worldwide
(Financial Times 2012, 2013, 2014 & 2015).
®
REAL WORLD. REAL LEARNING
IMD is a top-ranked business school.
We are the experts in developing global leaders
through high-impact executive education.
Why IMD?
» We are 100% focused on real-world executive development
» We offer Swiss excellence with a global perspective
» We have a flexible, customized and effective approach
www.imd.org
FURTHER INFORMATION
For more details visit www.imd.org or contact a
Program Advisor at +41 21 618 07 00 or at info@imd.org.
FOLLOW US ON
Chemin de Bellerive 23
P.O. Box 915
CH-1001 Lausanne
Switzerland
Central tel: +41 21 618 01 11
Central fax: +41 21 618 07 07
info@imd.org
IMD, IMD INTERNATIONAL REAL WORLD. REAL LEARNING, MOBILIZING PEOPLE and OWP are trademarks of IMD – International Institute for Management Development.
Concept and design: Magic Pencil; Photography: Régis Colombo, Gabriel Garcia, Nate Henderson, Richard Juilliart, Oliver O’Hanlon, Thierry Porchet, Yves Ryncki, Jean Scheim (Black and White) ©IMD 2015
The IMD Difference
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