International Senior. Executive Seminars

July 17-18, 1998 in Barcelona

McKinsey & Company

Collaborates with IESE

In an interview with Bruce Simpson, a Partner with McKinsey & Company in Paris, and Associate IESE/McKinsey Program Director, Simpson stressed that "developing people is key to profits". He added, "developing a network of talented managers can reap greater rewards than investing in physical assets. Even in the manufacturing sector, the stock market favors companies which invest more capital in non-physical assets ­ such as attracting, developing and retaining skilled staff ­ than physical resources". These are the results of a recent McKinsey & Company study on the impact of investment on non-physical assets.

This study underscores a new vision for human resources, which will be explored in an upcoming two-day seminar at IESE, Building Strategic Human Resource Capabilities and Intellectual Capital, July 17-18, 1998 in Barcelona. The seminar is designed not just for HR managers but also for senior managers that are concerned with getting the best out of their employees. Simpson added, "CEO's like Jack Welsh of General Electric have shown that developing people can be the key to greater profits. GE has done an exceptional job of finding the right people among the local pool of talent all over the world. It was Welsh who carved GE's motto: "We bet on people, not strategies." Pepsico is another multinational that has dedicated considerable time and resources to develop a detailed analysis of their employees' development needs over the next few years. "They are getting ahead of the game and anticipating their needs for the future." In companies where human resources is a driving force within the organization, the HR manager has gone on to become the CEO, as with the case of the current CEO of L'Oréal, Lindsey Owen Jones. "In a global organization, being able to compete abroad and have the right local people with the right skills is absolutely fundamental."

The special seminar brings togeth-er experts from McKinsey & Company and faculty from IESE for a highly interactive process of analysis and discussion. Also leading the seminar will be Jean Hiltrop, José Luis Álvarez and Carlos Sánchez-Runde of IESE, and Dominique Turcq and Parke L. Boneysteele of McKinsey & Company in Paris and London. The seminar is unique in that the combined experience of the IESE faculty with be merged with the more commercial outlook of one of the world's leading consulting companies. When asked, "Why IESE?" Simpson replied, "IESE is a great school with a long-term international vision and we felt it would be a great platform to mutually learn, cross-fertilize ideas, and pass on an important message loud and clear to managers."

Driving Your Company into the 21st Century

IESE professor Pedro Nueno drew together a team of leading experts from Harvard Business School and IESE to explore how executives can drive their companies successfully into the future. The special international seminar, held May 4-6, was designed to help executives with relevant experience update and enhance their management skills.

The BMW faculty included John Quelch, Pankaj Ghemawat and Wickman Skinner of Harvard; and Pablo Fernández, José Luis Nueno, José Luis Álvarez and Eduard Ballarín of IESE.

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© IESE 1998