IE Focus || Causes

By Enrique Dans, Professor at IE Business School, published on IE Focus

Social networks have the capacity to mobilize millions of people in defense of a cause, regardless of their location. The far-reaching impact of this is now starting to show.The expansion of social networks has had one extremely interesting effect: the proliferation of causes or claims capable of garnering the support of a large number of people, sometimes very quickly. When this occurs, the person promoting the cause in question cites the number of people involved as evidence of support, whereas sceptics and detractors try to downplay it by talking about of the scant value of support provided by merely using an index finger to click on a mouse. 

Who should we believe? Can we consider this type of group as tangible evidence of support, the virtual equivalent of a street demonstration with banners and slogans, or does the practically zero effort required to support the cause mean it is worth very little? The social importance of this issue is growing as the number of social network users increases: Spain has the highest number of social networks users in the world (according to the latest figures, we are talking about around ten million active users on Facebook and around eight million on Tuenti). As a result, many are starting to see social networks as a kind of “trend laboratory” or a gauge for measuring the “social mood”, a kind of permanent, real-time survey on the widest possible variety of subjects.

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The Success in Failure

This February, IE Business School brought together some of Spain and Israel’s most prominent entrepreneurs and investors for a conference about an essential element of the entrepreneurial endeavor: Failure.“The Advantages of Failure,” the first conference of its kind hosted by a business school, asked participants to speak about their greatest failures as entrepreneurs, how they learned from and eventually overcame them. Present in all entrepreneurial markets, the fear of failure is one of the biggest obstacles to fomenting a successful European entrepreneurial ecosystem. In Spain, for example, more than 50% of those interviewed by the Global Entrepreneurship Monitor (GEM), the largest single study of entrepreneurial activity in the world, note that the fear of failure is a key impediment to becoming an entrepreneur. 

The start of the conference delved into the lessons learned from experience: 

•Jose María Castillejo, Chairman of the Board of Directors of Zinkia Entertainment SA, whose principal product is the animated figure Pocoyo, recounted his experience with a Ukrainian train heist. The son of a local Ukranian politician “hid” a train full of sunflower seeds in order to squeeze Castillejo out of a profitable business exporting sunflower seed oil.

•Jesús Encinar, founder and CEO of Spain’s top real estate website Idealista.com explained how the failures of his parents’ first businesses – and the subsequent need to relocate from his childhood home – made him ever vigilant of bank debt and possible business failure. In 2008, Encinar was named a Young Global Leader by the World Economic Forum.

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IE Focus || Germany 4 – Spain 0

By David Bach, Professor at IE Business School, published on IE Focus

Germany has scored more economic goals than Spain because it applied the structural reforms needed before the crisis took hold, and because Merkel, has controlled spending from the start.Spain may have beaten Germany in both the European Football Championship and the World Cup, but where economy is concerned there is no doubt that Germany has the upper hand. Last Thursday´s news that the largest economy on the continent had grown by 3.6% in 2010 (the highest level since the unification in 1990) has surprised even the experts. The Spanish economy, however, closed 2010 with an average reduction of 0.2%. What does Angela Merkel know about economics that the Spanish president doesn’t? One analysis of the German success shows that the causes behind the differences go beyond the current Chancellor´s policies and also clearly point the path Spain should take.

Germany´s economic strength (and Spain´s weakness) is based fundamentally on four pillars:

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IE Focus || Social web and involvement

By Enrique Dans, Professor at IE Business School, published on IE Focus

One of the key factors driving the boom in so-called social media is customer involvement, now the subject of extensive study.One of the main drivers of the boom of the so-called social media is so-called customer involvement. This represents a measure of how far the customer gets involved with the sender of the message, and is now the subject of extensive study.

Have you ever considered the general effect your messaging has on your target public? In a world full of media that is technologically limited to being unidirectional, the answer to this question was very inexact: we could only find out by using panels or surveys, which were always approximate, and we were unable to associate the answer with specific subjects or try to measure it in purely binary terms: one, buys the product or service, or zero, doesn´t buy it. This absence of information means that communication via the net can be measured or evaluated in a large number of ways that businesses are starting to discover. 

On the social web, users´ reactions are gauged by that fundamental variable: involvement. The minimum involvement of a user in terms of content is to simply “watch it go by”; the content appears and the user simply moves on to something else without interacting with it. Display advertising, for example, is a clear case of this: we can´t even be sure of whether or not the user has actually seen it or stopped to look at it. In fact, display advertising is a luxury in comparison with other media: we can at least know whether or not a specific user has received the impact and then act accordingly. In the press, we can only know the number of newspapers that have been sold and, on television, we have to trust a frugal scattering of audience meters that provide measurements that are poor and few and far between, but which everyone decides to believe since there is nothing better.

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IE University || All about Humanities

Why is Humanities one of the core values of IE University? The complex world we face today poses fascinating challenges for those beginning and those completing their educational journey. IE University’s higher education model is Humanistic in this respect. IE University expects its students, faculty and the entire university community to take a profound interest…

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IE Open Conference || Sports Marketing Activation: Launching A Global Sponsorship

IE Business School  is glad to invite you and the members of your network to join the 10th videoconference in our Sports Management Today series, to be held on Thursday, March 24th at 16:30 (Madrid local time – please click here for your local time). Register at msmconferences@ie.edu.

Speaker:

Earl Patton – Senior Manager for Sony FIFA Partnership Project Office

Content:

Coming off his international assignment for Sony FIFA Partnership Project Office in South Africa for the 2010 FIFA World Cup, Earl Patton will join us for this exclusive videoconference on strategies that pertain to global sports activation. Earl will discuss how Sony and other global partners of FIFA and the World Cup manage and integrate various business developments and marketing strategies from digital, television, print, social responsibility, sales and marketing. In addition, Earl will discuss the role of various internal and external groups within a global activation to illustrate how a united front is a key component to the deployment and success to reaching return on investment.

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IE Brown Executive MBA: the program is launched!

Finally launched: the IE Brown Executive MBA program which combines IE Business School‘s strength in interdisciplinary management education and Brown University‘s excellence in the humanities, social, biological, and physical sciences.

The institutions have been have been collaborating for two years and this Spring marks the beginning of their first joint program, which has been created specifically for the entrepreneurially-minded, globally aware, and inquisitive executive.

“We’re living at a time of intense global change and upheaval, which presents great opportunity and also requires innovation and entrepreneurship for the well being of our global society,” said Craig Cogut, Brown University alumnus (’75) and Founder and Managing Partner of Pegasus Capital Advisors, L.P.  “The advantage of studying liberal arts is the ability to speak and understand different languages, and I don’t just I just don’t mean English, Spanish, or Mandarin.  Music, art, and literature are also  languages that help you know the world. They teach you to listen, to hear, to see, to be flexible and creative, and most importantly, to learn from one another.”  The Cogut Center for the Humanities at Brown University, named in recognition of the generous support from Craig and Deborah Cogut, supports collaborative research in the humanities, focusing on interdisciplinary and comparative work across cultural and linguistic boundaries, and supports fellowship and grant programs, Brown’s distinguished visitors program, and regular campus events.

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