Singapore hosts next IE Insight Session

On October 23, IE will present its academic offer for Singaporean residents. During this presentation, participants will also learn why IE is one of Europe’s leading business schools and why its MBA programs are considered within the Top 10 in the world. Get more information in the attached presentation and sign up here for this…

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Leading an entrepreneurial family

1595.jpgOctober 2008 | By Cristina Cruz, Professor of Entrepreneurship at IE Business School.

The world has changed and family businesses must change with it if they are to avoid high mortality rates. But this transformation has to come from the top, from the company leader.

Millionaire grandfather, spendthrift son, beggar grandson, or so the Spanish saying goes. In other words, grandfather founds company, comfortable son rests on his laurels, and by the time the third generation comes along thereâ??s nothing left. This particular saying describes the problem facing family businesses on a daily basis.

Only 30% of family businesses reach the second generation and only 15% carry on to the third. The statistics are universal and the phenomenon is repeated everywhere in the world despite cultural differences. Why do family businesses disappear? Problems related to the lack of understanding between members of the family who own the business, the company´s incapacity to adapt to environmental changes, the lack of professionalization and/or the lack of commitment of subsequent generations are some of the most frequent reasons mentioned by family entrepreneurs and researchers. Behind all these reasons lies one common denominator: an inappropriate substitution of leadership which means there is no effective leader to help the company successfully overcome the transitions it is faces. Hence, if leadership is a critical factor for any company´s success, the evidence points to its being even more important for family businesses.

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IE University will be one of Europe´s most prestigious centres of learning: Rector Santiago Iniguez

zaryn-dentzel-y-santiago-iniguez-web.jpgThe University inaugurates its first academic year with two new degrees in Architecture and Communication that are fully compliant with the European Higher Education Area (EHEA). In his address during the inauguration of the first academic year of the new international university model launched by IE in April of this year, Santiago Iñiguez de Onzoño, Rector of IE University  stated that â??The university we are building will be one of Europeâ??s most prestigious centers of learning, in line with the achievements of our business schoolâ?.

The Rector described IE University as â??A private institution with a public mission: that of educating global citizens, entrepreneurs who are committed to society and have an excellent working knowledge of their fields.â? He went on to underscore the fact that IE Universityâ??s innovative, market-oriented programs will also equip graduates with a solid grounding in humanities and management, given that â??humanities are the binding agent that integrate other knowledge, and the base for shaping individuals in the fullest sense of the wordâ?. Iñiguez de Onzoño also spoke about how behind every good business practice there is a good management practice, which is why IE University graduatesâ?? education will be equivalent to that of an MBA graduate, in that they will be entrepreneurial in their fields, change agents in their profession, and generators of value and social well-being.

After speaking about the Universityâ??s  two new degree programs  in Architecture and Communication launched at the beginning of the academic year, both of which are adapted to the European Higher Education Area, Íñiguez de Onzoño announced that in the next academic year, following the receipt of the pertinent approval, IE Universityâ??s Santa Cruz la Real campus is set to launch new degrees in Business Administration,  Biology, Law, History of Art, Construction Engineering, Journalism and Audiovisual Communication, Psychology, Tourism Management, and Systems and Technologies. â??One of the key features of these new degree programs will be their markedly international slant in terms of content, student profile, Spanish and English versions, strategic alliances and exchanges with leading international universities, and relations with global business organizations and institutions.

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