IE Business School sits down with Meinrad Spenger, former International MBA student, to talk about his recent entrepreneurial project, the launch of MÁSmovil. He shares his views on his MBA experience at IE, and acknowledges the value of studying in a school that fosters the entrepreneurship spirit.
At times of uncertainty, such as the present, it is of fundamental importance to consider the basic principles and concepts on which real estate is based. We have had such frenetic years that daily routine has taken away our mid-term vision and perspective. I also remember where we have come from. Accordingly, I consider five questions and offer one thought on the current situation.
What is understood by the â??real estate sectorâ??
In recent years, the sector has become so sophisticated that the activity related to real estate has very different focuses when seen from the viewpoints of product, location, operators, capitals and demand.
What may be a crisis for developers is an opportunity for demand and, what is seen as the contraction of finance opens up the door to higher profitability for own resources. There are areas in the world where cycles come to an end and there are others where they begin. There are product segments that run out and others that offer better investment possibilities.
In short, we can speak of a residential crisis in Spain for developers and banks, but there are also high levels of profitability to be gained from investments in Russia or Turkey in the development of low-geared shopping centres.
Can we speak of only one â??real estate sectorâ??
Does an apartment developer, a REIT (Real Estate Investment Trust) trader or a listed company analyst speak about real estate? Of course they do, but the part of the sector in which each one is interested is completely different. Everything is related, but there is a â??level of technologyâ? that is so specific for all the operators in the sector that it is almost impossible for the information on each area to be consistent. Indeed, work is carried out independently.
This graph shows investment outlooks by asset type and reveals the numerous alternatives by product, geographical location and investment format.Details
Apart from many arguments to come to study at IE Business School, one you will repeatedly hear is MADRID, Europe’s second largest city and definitely one of the most vibrant ones! IE is located right in the heart of Madrid in the famous Salamanca district, being the most prominent residential areas surrounded by Embassies (the…Details
This article was written by May George and published at South China Morning Post on August 16.
Masters of Business Administration (MBA) degrees exist in abundance worldwide. They are there to help business executives and entrepreneurs learn the rudiments of finance, accounting and management. But the dean of the IE Business School in Madrid, Santiago Iniguez de Ozono, feels that business schools, while teaching management skills, are neglecting to teach their students creativity.
“One distinctive feature of our MBA programme is entrepreneurship,” said Professor Iniguez. “It is not just us who talks about this but also recruiters and students, who talk about this entrepreneurial verve in our graduates, regardless whether they work for a large corporation, a family business or create their own company. This is something very distinctive. We ask core participants to create their own businesses. We also have a venture lab. We also tell them about the many opportunities on the web and what opportunities the new technological environment will bring them.”
Professor Iniguez feels that business schools should take more responsibility in ensuring their students learn more creativity in their studies; out-of-the-box thinking that adds value to the set subjects that every other business school teaches.
In Hong Kong, Kevin Au Yuk-fai, associate professor at the Department of Management and associate director of the Centre for Entrepreneurship at Chinese University, agrees. He said that one of the distinctive features of the Faculty of Business Administration’s MBA course was entrepreneurship, allowing students to think for themselves and create business scenarios while sometimes working in a multidisciplinary team.
“I tend to agree with [Mr Iniguez]…
It’s quite difficult for a lot of the business students to be creative. Thereâ??s been a long debate in business schools on whether business schools should be professional schools or a research school. In recent years, it looks like the research school side has been dominant. To a certain extent the schools are looking for ranking and research is something that the ranking system will look into.”Details
This is one of the most asked questions when applying to business schools. To be frank, it is a very good question and very difficult to answer as the GMAT score is an indicator on how you tackle difficult situations under stress – and during a Master degree program at IE Business School you will…Details
Javier Quintana, Dean of IE’s School of Architecture, explains the rationales behind the structure of new BA & MA in Architecture at IE University. More detailed information you can find here.
What is the first thing which comes up to your mind when you think about online MBA or online Master programs? Definitely it’s about flexibility. You’re not in a packed classroom at 8 or 9 am in the morning awaiting anxiously the professor. Will he ask for a quiz or will he ask me to…Details
June 2008 | By Yanire BraÃ±a, Director of the MET Program at IE Business School
Forget established patterns of behaviors. Innovation plays a key role in growing a business and making it profitable. But companies also have to remember to include diversity in the equation.
In an age where attracting talent and brand power are fundamental, many companies have been forced to cultivate their uniqueness, looking for new ways of developing the values and factors that enable them to do just that. Accordingly, they turn to innovation as the only way to maintain or create a new competitive edge that can be sustained over time.
The most innovative enterprises are aware that innovating is not simply creating or modifying products and services, but rather it is sometimes important to create an infrastructure of people and processes that allows them to respond to all their current and future needs.
The need to grow their business and making it profitable makes companies occasionally focus exclusively on their competitors, customers and employees, but what happens with other factors? Business reality tells us that customer retention and loyalty strategies are often designed but that they do not always include employees and often overlook an important potential market: non-customers and non-employees. Then there are the difficulties involved in learning about this particular segment, which is the result of massive demographic, economic and sociocultural change and often fails to present the kind of segmentation criteria that makes for in-depth knowledge. New technologies make it easy for enterprises to see beyond their traditional sources of advantage, but sometimes this is not enough to actually innovate or the renew competitive advantage. In order to maximize all the options, companies also need to invest in discovering the differences among their customers and employees that can take them beyond existing demand and open up the door to a new mass of customers and employees that did not exist until now.Details
All candidates who know a little bit the structure of our programs at IE Business School, noticed that IE is closed in August. First of all, our faculty needs a break – from the students, just kidding – but also we are using this break in order to renovate, recreate and update our installations. Currently,…Details
This article was published last month in the Independent, and certainly is catches your attention as it describes many undiscovered attributes of Spanish life: Food, Fashion, Architecture, Society, Cultural Heritage, Travel Destination!
Sunday night’s triumph in Vienna was a moment of pride, unity and joy for this nation â?? and a mark of how far it’s come. Elizabeth Nash reports from Madrid
Tuesday, 1 July 2008
Spain is enjoying a moment of glory. Last night’s triumphal homecoming of Euro 2008’s conquering heroes revealed everything that is good about Spaniards today, their spontaneity, their gregarious sociability, their unbridled â?? sometimes excessive â?? lust for partying.
The celebrations have shown something else: that Spain is enjoying a new confidence, a relaxed sense of national pride, a self-esteem it has rarely if ever experienced before, divested of old complexes. One of the commonest comments made by those celebrating Sunday’s victory was “I’m proud to be Spanish” and “I’ve never felt more Spanish”. And they said it without the defiance you used to hear, but naturally, with joy in their faces. They were not trying to convince you of their superiority. They were having fun.
And the reason for their new-found ease was that the old braggadocio that compensated for feeling small, dark, isolated from Europe, hopeless at languages, a failure at the game they loved, was replaced by the serene confidence they absorbed from their youthful footballers. No fake heroics, no swaggering, no assumed “Latin” passion, just the pride of a nation of small, dark blokes of humble origins who ran rings around the blond, cultured man-mountains of Europe’s mightiest footballing nation.Details
By Rafael PampillÃ³n published in IDEAS, IE Business School alumni magazine
After Vietnam, India is the world economy that will enjoy the highest growth, with a forecasted yearly average growth rate of 8.5%.
Almost everyone agrees that the country in the starring role during the first half of the 21st century is China. But no one has any doubt that the second half of the 21st century will also feature India as a protagonist. The largest populations in the world â?? for some years now both countries have been implementing reforms enabling change of their economic model, from high-intervention to market economies. These reforms have consisted of ambitious economic policy strategies that have meant greater internal deregulation, and opening to the exterior, that have produced high economic growth rates. This growth process has been accompanied by reductions in poverty levels in both China and India, although, unfortunately, social and regional inequality has increased. All this means that the governments of both countries continue to prioritize the adoption of measures for maintaining or even increasing economic growth, to raise the populationâ??s level of per capita income, and to generate a higher level of wellbeing to allow sustainable development.Economic structure
As a consequence of the economic reforms, Indiaâ??s productive structure has undergone notable changes over the last 15 years. Transformations in the production system led the services sector in 2006 to generate 55% of the GDP, industry 27%, and agriculture 18% (see table 1). Services use 27% of the working population, and also represent the sector with the highest growth rate. In the Services sector as a whole, special mention must be made of the information and communications technologies (ICT) sector which is expanding in a sustained manner and growing at a yearly rate of 25%. The success of the ICT sector in India has had a significant impact on the countryâ??s economic productivity. The arrival of the digital age, and the new workforce with a high level of education and the ability to speak English, has gradually transformed the country into an important destination for international companies looking for technological support.
IE University has reinvented university education with its new degree in architecture, one of the international universityâ??s flagship programmes for the academic year 2008-2009. The new degree is run in English and Spanish and will combine online and onsite training with internships whereby students can gain work experience in other countries and learn languages. The…Details
Ferran AdriÃ is featured in the current edition of the IDEAS magazine, the IE Business School Alumni Magazine. Read this interesting interview with the considered to be best chef running the considered to be best restaurant in the world, in Spain!
Today, he has become a living legend of the gastronomic universe. His proposition? Demonstrate that cooking is the best expression of intelligence and creativity.
There is a clear connection between Ferran AdriÃ â??s work and the various artistic and philosophical trends of the 20th century, from surrealism to the new critique of the theoretical movement of deconstruction… His gift can be compared with that of other Spaniards, such as the painters Salvador DalÃ, Pablo Picasso and Joan MirÃ³, or the film director Luis BuÃ±uel.â? These have been the arguments put forward by the Scottish University of Aberdeen to award Ferran AdriÃ the title of doctor honoris causa in Humanities â??for his contribution to contemporary thoughtâ?. The comparison Aberdeen made between AdriÃ and artists who have stood out -but until recently of minor importance as far as the Spanish public is concerned- is surprising at the very least. It would appear that eccentricity is more recognized than excellence, as if both qualities were incompatible and the â??fusionâ? never happened.The son of a plasterer, he preferred not to do a degree in business and launched himself on the adventure of finding summer work in restaurants and tapas bars on the Spanish coast. However, destiny had already outlined his name in capital letters. During his military service in the Navy in Cartagena, he decided to accept a friendâ??s proposal to start work as the kitchen hand in elBulli, a restaurant already of known prestige of which, interestingly, he had not heard until that moment. The restaurant was located in Cala Montjoi, 6 km from Roses (Gerona).
Today, elBulli has three Michelin stars, opens only seven months a year, and offers almost zero possibility for booking a table. All thanks to the genius of this masterchef, a simple man of few words, but owner of a brain that is constantly simmering.Details
Gary Delaney is current student of IEâ??s Global MBA program and talks about his impressions of the program. Gary is involved in technical security and risk management being an SME in architecture, incident management, forensics and security strategy. He worked in financial institutions and security consultancies in Ireland, UK and Australia and is currently employed…Details