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The
nature and relatively short length of open programs also makes them more
flexible in terms of using the most up to date research material. One
can create a new open program with relative ease whereas the research
and design for an in-company program entails visiting the company many
times in order to match content to company objectives, making the process
far longer and more complex. The content tends therefore to focus more
on established management theories than on the latest ideas in business.
Keeping up to date has always been a critical success factor for managers
but in a rapidly changing world, it is even more important. Despite the
apparent decline in the “New Economy”, developments are taking
place that are already significantly changing the way we do things, and
the business world is no exception. New environments require managers
to adapt and act differently to ensure at the very least survival, and
at the most to be able to harness the huge opportunities these changes
can bring.
If all that was required was keeping up to date, managers would have it
relatively easy. However, with the increasing access to all kinds of information,
their problem is compounded by the need to discern which concepts are
pure hype and which are here to stay. The media hype surrounding the “New
Economy” has put managers at risk of being rushed into change for
change’s sake. With the bubble bursting, the danger now is that they
will “throw the baby out with the bath water” and dismiss it
completely.
Taking time out to reflect on these issues and acquiring tools to face
this new environment is one way of dealing with this. At their most basic,
this is what the two new programs being launched by the IESE’s Department
of International Executive Education are about.
Marketing in the New Economy
The first, “Marketing in the New Economy”, which takes place
in June, is an initiative of professor José Luis Nueno and visiting
professor from Harvard, professor Robert J. Dolan. Based on data researched
in the past year, both in Europe by IESE and in the US by Harvard, the
program analyzes where marketing is today. Now that we have had sufficient
time to see developments in the new economy, we can take stock with figures
in hand, separate the wheat from the chaff, and see where the learning
points are.
As professor Robert Dolan states, "What is distinct about this marketing
program is that it really allows for critical thinking about what is enduring
and what is merely a fad. While being managerially oriented, it is an
intellectually rigorous program which looks at the fundamentals which
are underlying all of this".
The program will get top level marketing executives to develop a better
understanding of which marketing tools still remain useful and which have
become obsolete, and equipthem with a managerial framework for effective
decision-making in today’s world.
Multi-business corporations
“Transforming Multi-business Corporations”, a joint IESE/HARVARD
3-day seminar taking place in October is another extremely timely program.
Designed jointly by professors Joan E. Ricart of IESE and Pankaj Ghemawat
of Harvard Business School, and drawing upon material currently being
developed for the program, it basically analyzes how managers in large
organisations can deal with the changing environment.
As professor Ricart, explains, "as a consequence of the drivers of
change many large corporations, especially in Europe, are having to undergo
a process of transformation to survive.
"The program looks at these drivers –deregulation, the stock
market and shareholder pressure for higher value creation, developments
in technology, competitive pressure, globalization– and analyzes
how executives in charge of executing corporate strategy can respond to
them".
The program will introduce the innovative idea that today’s managers
should become builders of businesses very much like venture capitalists.
By changing their role, managers could find that there are more value-creating
opportunities in building and developing businesses than there are in
the management of synergies between businesses.
It will also bring together multiple perspectives. On the one hand, it
will combine corporate strategy and business strategy views, which are
usually dealt with separately. In addition, presented as it is by a combination
of academics and consultants, it will provide a rigorous academic insight
with practical experience into what is actually happening in corporations.
To deliver all these ideas, the program deploys an impressive array of
faculty. As well as professors Ghemawat and Ricart, Jordi Canals and Eduard
Ballarín from IESE, and Herman Daems, from the University of Leuven
and consultant for various companies on strategy, will also be participating.
What the two programs have in common is that they are based on a truly
international collaboration.
In the case of “Marketing in the New Economy”, the course will
combine research undertaken in Europe by professor José Luis Nueno
with materials researched in Silicon Valley by professor Robert Dolan
and in various parts of the USA by his Harvard colleagues. In “Strategies
for Transforming Multi-business Corporations”, IESE professors will
bring in their experience in Europe and Latin America while professor
Ghemawat will contribute material researched in other emerging economies
and the USA.
Both programs also bring together the best possible advantages of open
enrollment programs: they are designed to provide the ideal setting in
which executives can put aside daily decision-making demands and reflect
on the most pressing issues facing managers today. The best faculty available
world-wide, will deliver the two programs and provide a global perspective
that combines academic research with practical experience. Finally, a
strict policy on the criteria for admission of participants in terms of
position, background and nationality guarantees a high level in class
discussion and social interaction. These advantages will ensure the existence
of open programs in the future.
R.
Innes
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