5
Mar

IE Business School presents the GEM Spain Report for 2007

Written on March 5, 2008 by Dirk Hopfl in Academics

gem1.jpgEntrepreneurial activity in Spain grew by 4.11% in 2007, as shown by the results of the GEM (Global Entrepreneurship Monitor) Report, the leading international observatory on entrepreneurial activity worldwide.

Experts from IE Business School lead the Spanish arm of the project, sponsored by the Department for SMEs at the Spanish Ministry of Industry, Banesto and the Incyde Foundation. The presentation of the new edition of the GEM Report took place on Thursday, February 28, 2008 at IE Business Schoolâ??s Madrid campus, and was attended by Spainâ??s General Secretary for Industry Joan Trullén, the Spanish Director General of Policy for SMEs, María Callejón, and other key players from the field of entrepreneurship.

One of the main conclusions of the report is that there was moderate growth of entrepreneurial activity in Spain 2007. The TEA (Total Entrepreneurial Activity), an index used to measure the number of business start-ups, stands at 7.6% for 2007 in comparison with 7.3% for the previous year. This rate of growth places Spain in 4th position among EU countries and 8th among the OCDE countries analyzed by the GEM Report. Moreover, the â??death rateâ? of business start-ups in Spain has dropped by 16.6%, pointing to higher rates of consolidation. In the words of Ignacio de la Vega, Director of the GEM Report in Spain and Professor at IE Business School, â??2007 was a good year for entrepreneurial activity as a whole. In addition to an increase with regard to 2006, which saw spectacular rates of growth, business start-ups are growing in quality and dimension, and are based on increasingly solid business models which translate directly into a marked drop in business death ratesâ?. Read more…

4
Mar

MICROFINANCE. The world of microloans: a women's world

Written on March 4, 2008 by Dirk Hopfl in Go for IE, Live IE

IE Women in Business in cooperation with the IE Finance, IE Net Impact Chapter and Colombian Entrepreneurs Clubs are delighted to invite you to the conference: “MICROFINANCE. The world of microloans: a women’s world“.

Microfinance refers to the supply of small amount loans, savings, and other financial and non-financial services to low income people. Microfinance programs have generally targeted poor women. It is an activity that has grown above the average of the industry and we invite you to find out about its origins, development and the reasoning behind the target segment and its high performance indicators.

Speakers:
Tomás Gutiérrez Pérez, Professor of Finance at IE Business School. Tomás will tell us about the history and background of the Grameen Bank, founded by Muhammad Yunus. He will explain why this is a women’s world, the evolution of microloans and the future of Microfinance.
Marcela Torres, IMBA 2008 Student. A practical example. Marcela has done extensive research in this field and has launched a project in Colombia. She will tell us about her experience and how she has contributed to help women building successful businesses in Colombia.

When: Wednesday 5th March 2008
Venue: Aula Magna (María de Molina, 11)
Time: 6.30 pm (duration: 1.5 hours)
The conference will be held in English.

This event is one of the many Student initiatives at IE Business School. If you wish to learn more, please visit the web of the IE Student Office, http://studentoffice.ie.edu/.

3
Mar

The profit of sustainable design

Written on March 3, 2008 by Dirk Hopfl in Go for IE

sustainable-design.jpg

The ecologIE initiative at IE Business School is organizing conference on sustainable design, examining sustainable design as an economically viable and profitable option.

Date: 6 March 2008 (19:00 to 20:30 hours) Cocktail: 20:30 to 21:30
Place: Aula Magna, IE Business School, Madrid, Spain
Audience:  Students and alumni of IE Business School, IE University and Madrid-based design students.
Language: English
Organised by:  FLOOV Visionary Design, ecologIE Business-Environment Platform, IE
Supported by:  The Netherlands Embassy in Madrid

Topics:

Getting to know Sustainable Design – Definition of Sustainable Design, Sustainable Innovation and Eco-Design. How to integrate these new concepts into the organisation?
Speaker: Ursula Tischner, Design Academy of Eindhoven â??Manager Sustainable Design Program.

Developing Sustainable Products-Services-Systems – How can Product-Services contribute to more sustainable production and consumption systems?  What business opportunities are there for product/services/systems development in various need areas?
Speaker: Arnold Tukker TNO, The Netherlands Organisation for Applied Scientific Research â?? Manager of Sustainable Innovation Programs.

Doing Sustainable Business – How to determine the commercial feasibility of a good idea?
What business attitude and skills are required? How do you get enterprises to adopt new sustainable technologies?
Speaker: Thomas van den Groenendaal, Managing Director and Yoeri Nagtegaal, Designer of Evening Breeze.

Moderated debate with question and answer period
Moderator:
Steven Adolf, NRC Handelsblad Correspondant for Spain

If you wish to learn more about IEâ??s initiatives in Sustainability and Social Impact Management, please visit www.ie.edu/sim.

29
Feb

Iberia and ST Aerospace sign joint venture

Written on February 29, 2008 by Dirk Hopfl in Explore IE

Iberia MaintenanceSingapore Technologies Aerospace Ltd (ST Aerospace), and IBERIA Maintenance, the technical division of IBERIA Airlines of Spain, have signed a joint venture agreement to set up a landing gear repair and overhaul company in Madrid, Spain. The joint venture company, Madrid Aerospace Services S.L., will be equally owned (50:50) between IBERIA and ST Aerospace, and will be an associated company of ST Aerospace. The initial investment is expected to be around $6m.

This investment is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

Managed by ST Aerospace, the company will operate as an independent third party maintenance, repair and overhaul (MRO) service provider with an initial focus on Airbus A320, A330 and A340 landing gears. It will provide maintenance services for IBERIA Airlines and other customers around the world, and will complement ST Aerospace’s Total Aviation Support and IBERIA maintenance offerings for Airbus operators. It is expected to commence operations by the second half of 2008.

IBERIA Airlines is Spain’s leading airline and also leader on routes linking Europe with Latin America. It posted an operating income of about 5.4 billion euros, net earnings of 116.1 million euros and an Ebitdar of 790.5 million euros in 2006. It is also distinguished by its commitment to socially and environmentally responsible conduct. Along with its franchise partner Iberia Regional, Iberia operates some 1,000 flights each day to about 100 different destinations. Last year, Iberia carried a total of 33 million passengers and posted its 12th consecutive year of benefits. It is a member of the oneworld airline alliance, along with American Airlines, British Airways, Cathay Pacific, Finnair, JAL, LAN, Malev, Qantas and Royal Jordanian.

27
Feb

Tailor your masters for a bankable future

Written on February 27, 2008 by Dirk Hopfl in Go for IE

Studying at IE Business SchoolA bankerâ??s CV used to automatically include an MBA, but new careers in finance has led to a range of masters degrees.

An MBA has historically been considered a passport to the glamour and riches of a high-finance career, but times are changing, says Professor Pablo Triana, director of the Centre for Advanced Finance at the IE Business School in Madrid.
â??These are interesting times when MBA [graduates] face real competition when it comes to investment banking, private equity and hedge-fund jobs. Before the emergence of the masters in finance the MBA faced no competition. Now a MBA graduate from a top-ranked b-school could find [that] an prestigious masters in finance is hired ahead of them, and that hasnâ??t happened before,â? Professor Triana says.

In the past decade there has been a proliferation of masters in finance (MiF) courses. These need to be distinguished from the growing number of masters in quantitative finance degrees â?? specialised technical courses â?? that prepare graduates for technical finance roles. The main competition for graduates from these quantitative courses is likely to be candidates with PhDs. Professor Triana says too that it is important to compare apples with apples. An MBA from a top business school is always likely to trump a MiF from a lower ranking school.

So, for a role you can bank on, it pays to weigh up your career aspirations against the type of degree and the investment in time and money youâ??re prepared to make. â??The MBA may continue to be the safer bet â?? if you donâ??t get into investment banking you can try other things, such as consulting… but for those that are brave or visionary enough to do a specialist degree then the payout could be superior to an MBA,â? Professor Triana concludes.

IE Business School has designed two new programs which are in perfect line with the above mentioned argument:
Master in Finance for people at the starting point of their financial career.
Master in Advanced Finance for professionals with relevant work experience and who aspire to work in the finance industry as associate

This in an excerpt of an article which was published in The Times on February 14, 2008.

25
Feb

The private banking industry moves 610,000 million Euros per annum, of which only 36% is in the hands of specialised financial service providers, according to a survey conducted by Accenture, IE Business School, and Morgan Stanley: â??Trends and strategies in the private banking sector in Spain II: The clientâ?.
The report was prepared in collaboration with 21 specialised financial services providers that hold 81% of private banking assets in Spain. The Spanish client has a sceptical and adventurous profile, follows markets closely and has global vision. Madrid and Catalonia account for 50% of the total assets managed by the sector.

While clientsâ?? choice of bank is based on prestige and solvency, banks have to systematize the relation with the client, establishing guidelines with regard to contact time and format in order to achieve greater commercial efficiency ratios.

On a regional level, 43.1% and 21.6% of the total assets handled by the private banking sector is from Madrid and Catalonia respectively. They are followed by the Basque Country, Andalusia and the Valencia region (7.7%, 6.5% y 6.2%, respectively). These ratios are similar when it comes to amounts of wealth managed for each client in the different regions: the average assets of families handled in Madrid and Catalonia is 1,000,000 Euros, followed by the Navarre region, the Valencia region, Andalusia and the Canary Islands (averaging between 600,000 and 800,000 Euros).

Some recommendations
The private banking business model must be client centric and the bankâ??s revenue will be determined by the capacity to forecast how much advisory service it will be required to give. This basic theory must be born in mind in all four phases of the client life cycle: capture; planning and implementation; follow up; and transmission of assets. The management of individual objectives and a motivational retribution system are key for success, as is retaining talent and motivating managers. To round off, banks have to seek formulae that reduce costs while maintaining levels of personalised attention and a quality advisory service.

If you wish to study more about Finance & Banking, please explore our full-time Masters in Finance programs:

24
Feb

Does it need to be always an MBA?

Written on February 24, 2008 by Dirk Hopfl in Go for IE

IE Business School offers a wide range of master programs since we are aware of the fact that people have different needs and ideas when it comes to further their professional development. Of course, in the postgraduate management education the MBA has predominance over any other master program. Nonetheless this does not mean that this should be the solution for everybody. IE launched some years ago the Master in Management programs with the aim to provide a more specialized education in certain fields. In comparison to an MBA program, the general management component is reduced from 60-70% (MBA) to 25-30%, meanwhile the specialization weighs 70-75%. Evidently, graduates from these programs gain a much deeper insight into their personal field of interest.
Currently IE offers programs in the fields of Marketing, International Management and Telecom & Digital Business (training professionals of the IT, Media and Technology field to drive the undergoing convergence process in these industries).

Today, Mavila P. Mugesh from India gives us his feedback of the program. Mavila studied Engineering and before here came to Madrid he worked for Reliance and Alcatel Lucent.

Mavila, what was your motivation to do your Master Degree at IE?
The greatest motivation apart from the world rankings was the unique course probably the only one given by any of the top business schools a Masters Degree in Telecom Management dealing with the promising future on convergence. This course works closely to the industry with industry majors like Cisco, Nokia and Accenture being international partners.
The curriculum is closely knit according with the subjects taught iMBA curriculum with exceptional and awesome professors from the academia to assist your learning.

What have been your highlights during your stay in Madrid (academically as well as extra-academically)?
Madrid has one of best night life, great city with no security hassles always pulsating with life. IE Business School is strategically well located in the heart of Madrid, which gives you ample opportunities to pursue your hobbies and life. One statuary warning â?? Knowledge of Spanish language can be an added advantage.

What have been your biggest challenges so far (during the program)?
The biggest challenge, which I feel is more like an opportunity to meet the best brains all at one place; in your classroom. You continuously strive to be better among the best. The class is so diverse that I had students from 30 different countries. To see same things from 30 different cultural perceptions makes it a truly exceptional experience. The exponential learning curve that never saturates is once in a life time opportunity one can get being at IE.

Which recommendation would you give to any Asian student coming to IE?
Be open, donâ??t have any prejudices and most important forget about sleeping. With the fun filled and extremely pressurising environment one cannot expect to sleep much. But think it this way as it prepares you for the corporate world where coping with the high pressure workplace is the mantra to succeed and IE gives you the experience to feel it and live it. Truly magnificent!!!!!!!!!

Thank you very much, Mavila, for these comments and good luck for your ongoing studies!
If you wish to learn more about the Master in Telecom & Digital Business, please visit the corresponding website and a recent post with the program director about the learning experience in Second Life.

21
Feb

IE participates in the European HigherEdu Fair in Manila

Written on February 21, 2008 by Dirk Hopfl in Go for IE

European Higher Education Fair, Manila

IE Business School participates this weekend in the European Higher Education Fair in Manila. This event is open to all students intending to pursue a university degree and master degree in the European Union. For more details, please click on the image above.

20
Feb

When is the deadline if there's no deadline?

Written on February 20, 2008 by Dirk Hopfl in FAQ, Go for IE

application-timing-2.jpgIE Business School has a rolling admissions process which had been discussed more in detail in a previous post. Today I would like to explain more in detail WHEN is the right moment to apply to IE programs or better what is the tentatively latest moment to apply given that youâ??re not European citizen and you will need to apply for a student visa.

The best way to do this is using an example:
Imagine youâ??re applying for the IE International MBA program which starts in November. As you have researched the program, you quickly noticed that there is a complementary 2-month Spanish course before the official program start. So, your targeted program start is in September, or Day 0 in the attached scheme. This is the day when youâ??re in Madrid prepared to start studying.
Before youâ??re able to move to Madrid, you will need to apply for a student visa which takes in general 30-60 days from the moment of the application. Consequently, your student visa application should be in the Spanish Embassy in your country in July or August.
One of the requested documents from the Spanish Embassy will be a proof from IE that youâ??re officially enrolled in our institution. To issue this document and send it to your home address, we will need around 15 days from the moment of your place reservation.
Your place reservation can be done, clear it is, just only once you have been admitted and received from the Admissions Department the instructions for the down-payment of 20% of the tuition fees. As you already have decided for yourself to go to IE, waiting anxiously for the final communication of the Admissions Committee, you have already arranged the amount for the place reservation. Just to look back, from the admission to the visa application 30 days have passed, so that we are in beginning of June or July, or Day 60.90 before the targeted program start.
The Admissions Process itself will last between 30 to 45 days from the moment youâ??re presenting the full application package, independently if you do it one of IEâ??s Representative Offices around the world or directly in Madrid. So, your tentative deadline for the International MBA could be between mid-April and beginning of June.

But and THE FOLLOWING IS VERY IMPORTANT to take into account. For this tentative deadline

  • you do not need any scholarships or financial aid – deadlines for financial aid are usually earlier.
  • you assume that there are still places available â?? a case which is in the past years not easy to assume since there have been waiting lists and â??late-applicationsâ? could not be considered.
  • your nationality quota has not been reached so far â?? for some countries due to a large amount of applications we will need to restrict the access to the program to guarantee overall class diversity
  • you easily can quit your company with a very short notice

So, as a final result, you should consider to apply a couple of month earlier in order to have a comfortable timeframe to make your move to Madrid as smooth as possible for you, for your family and your company.

19
Feb

Homeless: a unique style

Written on February 19, 2008 by Dirk Hopfl in Academics

hoss-intropia.jpgFebruary 2008 | By Rosario Silva, Professor of Strategy at IE Business School.

 

 

Homeless, a quality designer brand named after street people, has achieved success using a unique strategy that distinguishes it from the rest of the sector.

This fashion company, created in 1994 under the name of Homeless and rechristened Hoss Intropia a few months ago, targets the medium-high segment of the women´s clothing market. To understand its strategy, we first need to take a brief look at the current situation of the fashion industry. The sector includes companies with very different strategies. On the one hand, you have the large international chains which, with their cheap & chic formula supply well identified consumer segments with a lot of design at low prices and, thanks to investments in outlets, they have created powerful brand names. On the other, you have the companies which also offer a lot of design but have a brand name that is generally associated with a designer. They have also preferred to invest in their own shops with the same idea of strengthening their brand name.

The strategy applied by Homeless is very different from its competitors in many ways. First of all, its position of high-level design and quality has focused on all kinds of women; in other words, they do not appear to segment the market, which is particularly surprising in view of the progressive specialisation of the sector. Secondly, its Homeless brand name has been associated with a social commitment by the company´s founders to helping homeless people, showing their own style and unique identity. Thirdly, its designs have been distributed through its own shops (it owns 14 in Spain) and through multi-brand shops (twelve hundred points of sale in Spain and abroad), which has afforded high growth without having to commit large amounts of financial resources. Finally, unlike its competitors, it focuses mainly on the domestic market (70% of sales).

Undoubtedly, the change of brand name was a good decision since the original brand sounded very harsh and was prone to being misunderstood by its target market. The enormous capacity for design the company has shown throughout these years, together with a new brand name, will be essential for the success of its international expansion, which began in London and is to continue in the direction of Italy and the United States.

This article was published in the monthly IE academic newsletter IE Focus. To see the originally published article please click here.
If you are interested in more international Spanish brands, please visit this previous post.

 

 

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