IESE Alumni Association

Annual Report2002-2003

University of NavarraUniversity of Navarra

Av. Pearson, 2108034 Barcelona (Spain)Tel.: + 34 93 253 4200Fax: +34 93 253 4343

Camino del Cerro del Águila, 3(Ctra. de Castilla, km. 5,180)28023 Madrid (Spain)Tel.: + 34 91 357 0809Fax: +34 91 357 2913

www.iese.edu

Annual Report2002-2003

Contents

Learning 7

Message from the President of the IESE Alumni Association 5

Guided by the faculty: continuous education

The Continuous Education Program 8

Industry Meetings 14

With colleagues: networking events

IESE Global Alumni Reunion 18

MBA Alumni Reunion 20

Regional Chapters Activities 22

Class Reunions 24

Through research: IESE Alumni Association publications

Economic Overview 26

IESE Alumni Magazine 26

Electronic newsletters 28

Sharing 31

Supporting 35

Alumni Directory 32

Meeting Point 32

Professional Career Services 32

Brief consultations with professors 32

Alumni@iese.net 32

Affiliation 36

Government of the Association 36

Regional Alumni Chapters 38

The MBA Program 39

Research Excellence Awards 40

Senior Members 40

Financial report - 2002-2003 academic year 43

List of the IESE Alumni Association’s activities and services 44

5

Message from the President of the IESE Alumni Association

Learning, sharing and supporting are three basic ideas behind the

IESE Alumni Association’s Activities.

Learning is progressing. In business management, such progress

can have a highly positive impact on society in general. This is the

ultimate aim of the continuous education offerings promoted by

our association. For this reason, the organization of reunions and

meetings in which we can learn from IESE faculty and fellow Alumni

are among our main activities. I am happy to report that during the

course of this academic year we held 191 events which brought

together 17,590 professionals.

Each of these educational events also offers an opportunity to share

experiences with our friends at IESE. In addition to the opportunities

for learning and networking, the IESE Alumni Association offers

professional services to foster contact between Alumni and other

people in the business community. The Alumni Directory and

Professional Career Services are examples of tools that were created

to facilitate these kinds of relationships.

Encouraging our alumni in all their endeavors is another of the IESE

Alumni Association’s raisons d’être. As Alumni, you strengthen the

IESE Alumni Association through your support and dedication, as

well as through the financial assistance that you provide to IESE.

And your contributions are clearly reflected in the international

reputation enjoyed by IESE. Alumni directly participate in the

development of faculty; in carrying out rigorous and practical

research which is an IESE hallmark; in helping in the selection of

the best candidates to the MBA Program and in many other

supporting roles. I am sure that each of us, as members, feels proud

to support the school’s future projects and to contribute to the IESE

Alumni Association’s development throughout the world.

It gives the Executive Committee great satisfaction to see how the

IESE Alumni Association enriches us as people and professionals,

thus contributing to the fulfillment of IESE’s mission. I believe that

our 8,854 members feel the same way, and I would like to again

express my thanks to all of you for your continuing loyalty to IESE

and the Alumni Association.

José Martínez-Rovira, PADE-84President of the IESE Alumni Association

7

• Guided by the faculty: continuous education

• With colleagues: networking events

• Through research: IESE Alumni Association publications

Learning

We learn from people, from the opinions of others,from experience, from research...

The IESE Alumni Association seeks to channel adirect flow of knowledge from the school to Alumni.We believe that only a comprehensive and rigorouseducation, based on a humanistic vision of the corporateworld, will enable us to advance successfully in a globalizedeconomy. It will also contribute to the developmentof the infinite potential found in each individual.

The Continuous Education Program is one of the distinctive

services that reflects a continuing desire to learn —a desire

which is shared by all of the IESE Alumni Association’s members.

The Continuous Education Program was created and

designed by some of the IESE Alumni Association’s earliest

members who wanted to continue receiving high level

education in various areas of business management.

Since its inception, the IESE Alumni Association has ensured

that the Program has maintained its characteristic

academic rigor and grown along with IESE.

The IESE Alumni Association would like to pay tribute to the

outstanding work done by the members of IESE’s faculty, who

—with their dedication and their commitment to the Continuous

Education Program— ensure that their students’ education at

IESE never ends. This academic year, 52 IESE faculty members

have taken part in Continuous Education Program sessions.

Prominent figures from academia, business and government

have also participated in the Program during the academic

year, enriching us all with their distinct visions.

Guests participating in 2002-2003 included business

luminaries such as Helen Alexander (CEO, The Economist

Group) and Thomas Sattelberger (Lufthansa), academics

such as Hal Varian, Dean of the School of Information and

Management Systems at the University of California—

Berkeley, and government leaders such as Pascal Lamy

(European Commissioner for Trade Policy), Eneko Landáburu

(Director General for Enlargement on the European

Commission), Eugenio Domingo Solans (member of the

Executive Committee at the Central European Bank) and

Pedro Solbes (European Commissioner for Economic and

Financial Affairs).

Professor Varian, one of the 10 most influential people in

the world in management thinking, gave a talk on the

lessons learned from the crisis in the New Economy. His

session, entitled “What is Left of the Internet Bubble?”

taught us some broad lessons about the crisis: one should

follow models and never trends, one should develop

concepts, not stereotypes, and one should make analyses,

not analogies.

Helen Alexander also took aim at a highly topical issue which

we have continued to study in-depth throughout the

academic year: the responsibility held by members of boards

of directors. Alexander emphasized that the president of an

organization must play the role of “guardian angel” to the

shareholders, overseeing his or her company’s day-to-day

management and compliance with the law.

Europe has also unquestionably been one of the common

threads in the Continuous Education Program. IESE’s

auditorium has been filled with individuals who have

expressed their wishes, concerns and hopes about the

construction of the New Europe.

Pascal Lamy assured us that the EU enlargement process is

an investment in the future, calling on all Europeans to work

for greater institutional legitimacy.

Meanwhile, Pedro Solbes reminded us of the need to

implement structural reforms that will stimulate and

strengthen the conditions required for favorable growth.

During the session that he led at IESE, Eugenio Domingo

Solans underlined the fact that Europe’s strength lay in a

monetary policy aimed at stabilizing prices in the medium

term, maintaining a fiscal policy that complies with stability

and growth pacts, and ensuring flexibility, an issue which,

in his opinion, Europe had not yet mastered.

Eneko Landáburu stressed the important role that the

introduction of the economies of Eastern Europe would

play in the EU’s consolidation. Landáburu emphasized that

all new member countries would have to comply with the

requirements of the Stability Pact.

IESE Alumni are keptinformed of the researchbeing carried out byprofessors at IESE duringacademic sessions led byfaculty.

Continuous education

The Continuous Education Program

8

10

Meetings in the Continuous Education Program

Chapter Meetings Attendance

IN SPAIN

Barcelona 46 5,663

Madrid 41 4,836

Levante 13 1,040

Galicia 6 342

Navarra, Basque Country, La Rioja 7 410

Aragon 5 393

118 12,684

OUTSIDE SPAIN

United Kingdom 5 200

USA-Canada 3 82

Argentina-Uruguay 2 63

Benelux 2 43

Chile 2 117

France 2 24

Scandinavia 2 30

Andorra 1 88

Brazil 1 25

Mexico 1 31

Peru 1 24

Portugal 1 16

23 743

Total 141 13,427

From anywhere in the world

The different Regional Alumni Chapters have addressed the

challenge of diversifying the locations in which the Program

is offered by bringing it closer to members who cannot

regularly travel to IESE’s campuses in Madrid and Barcelona.

They have been able to achieve this thanks to the

unconditional support of the faculty, who combine a desire

to learn with a commitment to teach.

Our aim is to offer members the opportunity to participate

in sessions from anywhere in the world, at any time of

day. In order to achieve this, IESE is making important

investments to allow some Program sessions to be

broadcast via e-conferences and over the Internet.

Seven e-conferences were held during this academic year,

and these were accessed by 4,500 people:

“The best store in the world”Professor José Luis Nueno

"B2C Logistics"Professor Frederic Sabrià

“Leadership, a question of character”Professor Santiago Álvarez de Mon

“10 key elements in the world economy”Professors Alfredo Pastor and Pedro Videla

“2nd Annual Conference on Labor Relations inEurope: early retirement and its impact on thecompany, the individual and the pensions system”Alain Buzelay, Director, Department of Economic Studies at

the European Centre, Nancy University, Holder of the Jean

Monnet Chair; José Antonio Herce, Executive Director, FEDEA;

Manuel Pimentel, Joint President, Detea Group; Aquilino

Polaino, Senior Professor of Psychopathology at Madrid

Complutense University; and Professor Sandalio Gómez

“Out of adversity”Mar Cogollos, Director, AESLEME; Adriana Gómez-Arnau,

Managing Director, Professional/Consumer Division,

Pearson Educación S.A.; Valero Rivera, handball coach at

F.C. Barcelona; and Professor Santiago Álvarez de Mon

Continuous education

“The role of the chief executive in theimprovement of corporate governance”Antonio Brufau, Director General, "La Caixa" Group and

President, Gas Natural; Amparo Moraleda, President,

IBM Spain and Portugal; and Jan Oosterveld, member

of the Group Management Committee, Royal Philips

Electronics

12 13

Continuous Education Program topics 2002-2003

Macroeconomic analysis

· The economy in 2003: Has reactivation arrived? Professors Antonio Argandoña and Jordi Gual, with Pedro Solbes, European Commissioner for Economic and Financial Affairs

· Economic and financial analysis of the Spanish companyProfessor Rafael Termes

· Views of the economy in 2003. Professors Juan José Toribio and Pedro Videla, with Manuel Fraga, President of the government of Galicia

· Analysis of the Spanish economy. Professor Jordi Gual

· A richer but less equal world? Professor Pedro Videla

The New Europe

· Impact of the enlargement of the European Union on the Catalan economy. Professor Jordi Gual and Casimir Dalmau, Executive Director of Patronat Català Pro-Europa (The Catalan Pro-Europe Foundation)

· What European project do we want to construct? Views on the European Convention. Professor Jordi Canals and Pascal Lamy, EuropeanCommissioner for Trade Policy

· The enlargement of the European Union. Professor Jordi Gual, Eneko Landáburu, Director General of Enlargement for the European Commission,and Carles Gasòliba, Secretary General, Patronat Català Pro-Europa (The Catalan Pro-Europe Foundation)

· The economic situation in the European Union. Professor Juan José Toribioand Eugenio Domingo Solans, member of the Executive Committee, Central European Bank

· Reforms for a more dynamic European Union: a boost for growth and company initiatives. Professor Jordi Gual; José Mª Aznar, President of theSpanish Government; Erkki Liikanen, European Commissioner for Businessand the Information Society; Peter Sutherland, President, Goldman Sachsand BP; Iñigo de Oriol, President, Iberdrola; Antonio Basagoiti, President,Unión Fenosa; Ana Botín, President, Banesto, and Professor John Kay, Oxford University

· How do we attract and retain foreign investment? Professors Jordi Gualand Lluís G. Renart, and Francesc Homs, Economics and Finance Ministerfor the Catalan Government

Entrepreneurs

· The sustainability of the entrepreneurial drive. Professor Pedro Nueno

· Entrepreneurship at 58? Learning about the Aravind Eye Care System Professor Sandalio Gómez; Professor Eugenio Viassa, AESE; Dr. ThulasirajD. Ravilla, Executive Director, LAICO; Dr. Araving Srinivasan, Administrator,Madurai Hospital, Araving Group

General management

· Managing with restrictions. Professor Pedro Nueno and Thomas Sattelberger, Executive Vice President, Lufthansa

· Improving corporate governance: the role of the board of directors Professor Jordi Canals and Helen Alexander, CEO, The Economist Group

· Managing in areas of great change. Professor Carlos Cavallé

· How to reconcile the day-to-day running of a company and innovation.Professor Joaquim Vilà

· Strategy in complex times: the simpler the betterProfessor Esteban Masifern

· Strategies for competing in an interconnected world. Professor Joan Enric Ricart and Mike Hess, doctoral program candidate, IESE

· The Philips Case: Insights into a Global/Local StrategyProfessor Jan Oosterveld

· Strategic alliances: relationships with partners. Professor África Ariño

· Constructing business cultures that center around the individual Professor Domènec Melé

· Assessment of directors. Professors Rafael Fraguas and Miguel Ángel Gallo

· Code of governance for the sustainable company. Professors Joan EnricRicart and Miguel Ángel Rodríguez

· Learning in an organization and the management of knowledge: dilemmaor synergy? Professor Rafael Andreu

Control

· The value of intuition when making decisions. Professor Manuel Velilla

· Making decisions in an atmosphere of uncertainty and ambiguityProfessor Manel Baucells

· New control focuses: how to measure the results of discretional activitiesProfessor Manuel Velilla

Commercial direction and marketing

· Why do many loyalty programs fail? Professor Cosimo Chiesa

· Creativity in advertising and its effect on sales. Professor Xavier Oliver

· Changes in commercial organization. Professor Vicente Font

· The best store in the world. Professor José Luis Nueno

· The new role of the sales director: Creating loyalty through loyalty Professor Cosimo Chiesa

· Branding strategy. Professor Juan Manuel de Toro and Conrado Llorens,founder and Managing Director of SUMMA

· Some reasons for commercial success in business. Professor Vicente Font

· How to design variable remuneration systems. Professor Cosimo Chiesa

Fiscal Issues

· Fiscal close, 2002. Enrique Chinchilla

· Income tax reform. Enrique Chinchilla

· Fiscal modifications to individual and company tax for 2002 and 2003.José Javier Armendáriz, Managing Director of the Tax Authority, Government of Navarra

The new economy and new technologies

· What is left of the Internet bubble? Professor Jordi Gual and Hal Varian,Dean of the School of Information and Management Systems, Universityof California-Berkeley

· What do Spanish managers think of e-business? Professor Josep Valor and Jesús Díaz de la Hoz, managing partner, PricewaterhouseCoopers

· Public administration and the digital company. Professor Josep Valor; Antoni Gurguí, Director, CIDEM; Maravillas Rojo, President, BarcelonaActiva; Amador Elena, General Manager for Inspection, Simplification and Quality Services at the Public Administration Ministry; and Manel Sanromà, Managing Director, Cat 365

· The on-line management of company cash flow as a typical current e-banking product. Professor Jorge Soley

· Steelscreen case. Professor Brian Subirana

· Taking advantage of the opportunities of B2B. Professors Marc Sachon and Josep Valor

· Managing identities. Security models in e-business Professor Brian Subirana; Juan Pérez Vilaplana, Director of Technology,PricewaterhouseCoopers, and Manuel Cortés and Diego Sacristán, SecurityManagers, PricewaterhouseCoopers

· Free software from a point of view of value for an e-business organizationProfessors Sandra Sieber and Josep Valor; Francesc Miralles, associate researcher, e-Business Center PW & IESE; Miguel Reyna, Head of InternetBanking, Banco Zaragozano, and Jaume Sans, Chairman, Spain & PortugalTechnical Expert Council, IBM

· Open Source Software: The new disruption in IT? Professor Josep Valor

· Technology-based learning and team-work: Same time, same place, or no time, no place? Professor Eric Weber

· Impact of new technologies on people management. Professor José Ramón Pin

Operations

· Management by projects. Professor Jaume Ribera

· Desert warfare and the Normandy landings: Learning to manage the supply chain. Professor Frederic Sabrià

· 6 Sigma: A management and quality system to reduce costs by concentrating on improving procedures. Professor Jaume Ribera; Jordi Balcells, Six Sigma Master Black Belt, Pricing Manager GE Power Controls, and Gerard Piera, managing partner, Global Performance Group

· The management of knowledge in companies in order to increase productivity. Professor Josep Riverola

Finance

· The current stock market situation and prospects for 2003 Professor Mariano Rabadán

· Valuing companies. Professor Pablo Fernández

· The Internet Bubble: What have we learned? Professor Javier Estrada

· The financial implications of day-to-day management decisions Professor Josep Tàpies

· The management of corporate risk: beyond the purely financial issuesProfessor Ahmad Rahnema, and Fiona Gietzmann and José Díaz Morales,Directors, Business Risk Services – BRS Ernst & Young

· The investment bank and its contribution to the development of Spanishbusinesses. Professor Jorge Soley and Antonio Truán, General Manager,Invercaixa

Company personnel

· Flexible working as a response to the reality and equilibrium of the familyProfessor Sandalio Gómez

· A la carte remuneration. Professor José Ramón Pin

· 2nd Annual Conference on Labor Relations in Europe: early retirementand its impact on the company, the individual and the pensions system.Professor Sandalio Gómez; José Antonio Herce, Executive Director, FEDEA;Manuel Pimentel, Joint President, Detea Group; Aquilino Polaino, SeniorProfessor of Psychopathology at Madrid Complutense University, and Alain Buzelay, Director, Department of Economic Studies at the EuropeanCentre, Nancy University, Holder of the Jean Monnet Chair

· Seven years with continually improving teams. Professor José Mª Rodríguez

· The harmonization and integration of human resource policies Professor Carlos Sánchez-Runde, and Professor Pablo García Ruiz, Facultyof Economic and Business Sciences, University of Navarra

· Restructuring practices in Spanish companies. Professors José Ramón Pin and Sandalio Gómez, and Antonio Gómez de Enterría, partner, Sagardoy & Abogados

· Managing people: a continuous challenge. Professors Santiago Álvarezde Mon, Mª Nuria Chinchilla, Sandalio Gómez and José Ramón Pin; Ana Bufí, Director of Human Resources, Novartis; Fernando Mesonero,Director General, ADECCO Foundation; Jaime Pereira, Director of Human Resources, Sanitas; Pilar Pérez, Director of Human Resources,Procter & Gamble, and Jesús Vega, Director of Human Resources, Inditex

· The art of uniting. Professor José Mª Rodríguez

· Encouraging positive mental attitudes and constructive relationships Professor Pablo Cardona

Leadership

· Leadership, team-working and personal satisfaction in the new economyProfessor Mª Nuria Chinchilla and Professor Pablo Ferreiro, ManagementSchool, University of Piura

· Out of adversity. Leadership, a question of character. Professor SantiagoÁlvarez de Mon; Mar Cogollos, Director, AESLEME; Adriana Gómez-Arnau,manager of the professional/consumer division, Pearson Educación Group;Valero Rivera, handball coach, F. C. Barcelona, and Gustavo Zerbino, survivor of the Andes plane crash

· The critical competencies of a manager. Professor Pablo Cardona

Ethics in business

· Company ethical policy. Why is it not enough to be good people? Professor Joan Fontrodona

· How to face up seriously to the problem of corruption in business Professor Antonio Argandoña and Jermyn Brooks, Executive Director of Transparency International

· The value of loyalty from managers, employees and clients Professor Miguel Ángel Ariño

Inter-disciplinary meetings

· Professional career and family life. Personal accounts Professor Rafael Termes

· The responsibility of parents and educators in an age in which young people are digitally obsessed. Professor Rafael Termes; Dr Paulino Castells,child psychiatrist and Professor at the International University of Catalonia,and Dr Xavier Bringué, Professor, Faculty of Communication, Universityof Navarra

· How to increase levels of ethical conscience in financial activities Professor Rafael Termes; Enrique de Sendagorta, President, Institute ofBusiness and Humanism, University of Navarra, and Paul H. Dembinski,Director, Observatoire de la Finance in Geneva

· Freedom and truth. Can and should they be compatible? Professor Rafael Termes

· Political action and ethical values. Professor Rafael Termes; José Bono, President of Castilla-La Mancha and Jorge Fernández Díaz, Secretary ofState for Parliamentary Relations

· Should all opinions be respected? Professor Rafael Termes; Alfonso López,Senior Professor of Philosophy, Madrid Complutense University, and Rafael Argullol, Senior Professor of Aesthetics, Pompeu Fabra University,Barcelona

· The biotechnological society from a scientific and human perspective: The parent cells. Professor Rafael Termes; César Nombela, Senior Professorof Microbiology, Madrid Complutense University, and President of the Advisory Committee on Ethics in Scientific and Technical Research, andNatalia López, Senior Professor in Biochemistry and Molecular Biology,University of Navarra

· Reviewing divorce. In search of matrimonial stability in a pluralist societyProfessor Rafael Termes; Professor Rafael Navarro, Senior Professor of Law, Madrid Complutense University, and Secretary General of the RoyalAcademy of Jurisprudence and Legislation, and Carlos Martínez de Aguirre,Senior Professor of Civil Law, University of Zaragoza

Commemorative sessions

· Alumni Day at IESE in Madrid. Professors Sandalio Gómez and Juan JoséToribio; Baldomero Falcones, Vice President of the Local IESE Alumni Association in Madrid; José Antonio Zarzalejos, Director of the newspaperABC, and José Folgado, Secretary of State for Energy, Industrial Development and Small and Medium-sized businesses, Ministry of the Economy

· 50th anniversary of the University of Navarra. Towards company management based on values. Professors Santiago Álvarez de Mon, JordiCanals and Rafael Termes, with José Mª Bastero, President of the Universityof Navarra

1514

Industry Meetings allow managersand employers to come together toshare their synergies and identifytrends within their particular sector.

Continuous education

Industry Meetings

9th Annual Health Technology Industry Meeting.Key analysis variables.

Professor Pedro Nueno. This conference included an analysis

of the current situation in the sector, along with an

examination of the relationships between supplier and client.

2nd E-learning Meeting. E-Learning in today’sbusinesses: Towards new forms of training?

Professors Sandra Sieber and Eric Weber. The experts

reflected on the future of the e-learning sector, concluding

that technology would in the future cease to be the leading

protagonist, giving way to the use of knowledge portals.

5th Annual Prestige Brands Industry Meeting.Recovering lost ground.

Professor Pedro Nueno with Michel Chevalier from Essec.

This Meeting was held in the incomparable surroundings of

Casa Batlló, one of Gaudi’s most striking buildings. One of

its key findings was that prestige brands need to establish

strategies that will allow them to adapt to local cultures.

17th Meeting of the Automotive Sector.Competing out of confusion.

Juan Llorens and Professor Pedro Nueno. Under the heading

“Competing out of confusion,” experts on the automotive

sector attempted to dispel the uncertainty being experienced

by this sector. Defending the sector, strengthening R&D

and making Spanish factories more flexible are the central

issues to be pursued.

2nd Annual e-business Meeting. Transformingbusinesses. From the New Economy to the NowEconomy.

Professors Sandra Sieber and Josep Valor. This meeting

saw well-known experts and employers agree in classifying

e-business as a tool that could be used to improve

procedures. They pointed out that its benefits are two-

fold: improvements in efficiency and growth.

The Champions Forum. The story of my success.

Professor Pedro Nueno with Hermann Simon, founder and

president of Simon, Kucher & Partners, Marketing

International Programs

These programs are notable for their international flavor, both

in terms of their content and participants. They are short,

residential programs offered in English, and mainly aimed at

managers working for international companies with more

than 15 years’ professional experience. The programs have

been developed as the result of agreements between IESE

and other prestigious business schools such as MIT, Harvard

Business School and Michigan Business School.

The following programs were offered during the 2002-2003

academic year:

Transforming Multibusiness Corporations,in conjunction with Harvard Business School

Creating Value in Latin America,in conjunction with IAE, IPADE and Darden

The Program for the Americas,in conjunction with MIT

Tourist sector conference

Three "champions" from the business world, Miguel Torres,

President of Miguel Torres S.A., Edouard Michelin, Managing

Partner and CEO of Michelin et Cie, and Javier Cano, President

and CEO of Puig Beauty & Fashion Group, recounted their

business experiences and the keys to their success.

9th Annual Telecommunications Industry Meeting.New models for negotiation in thetelecommunications sector.

Professor Jordi Gual. This year, the meeting centered on the

immense challenges facing the sector: the introduction of

new models for negotiation that will allow for the proper

use of infrastructure and the development of broad band.

The aim, to boost company profitability and investment in

new technology and equipment.

During the 2002-2003 academic year, 674 people attended

these meetings at IESE, 34% of them Alumni.

Alumni are offered a 10% discount against the cost of

enrolling for Industry Meetings and Seminars, and this is

increased to 30% for members of the Alumni Association.

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Continuous education

Seminars and FocusedPrograms

Seminars and Focused Programs allow Alumni to broaden

their knowledge or make a more detailed study of individual

issues with all the rigor that characterizes learning at IESE,

in sessions led by members of the school’s faculty.

By the end of the academic year, around 400 participants

had attended at least one seminar, 20% of them Alumni. In

addition, some 800 participants attended the focused

programs, 26% of them Alumni.

Seminars – 2002-2003 academic year

Strategies for the textile and clothing industry ina globalized market place

Professors África Ariño, Cosimo Chiesa, Pedro Nueno and

Frederic Sabrià

Employers from the textile sector predicted the future of

their businesses and analyzed their strategies for a globalized

market place.

New businesses forum

Professor Pedro Nueno

Eleven business projects were presented to around one

hundred investors and venture capital companies. Business

initiatives result from the classes that Professor Nueno has

been giving since the 1970s as part of the “NAVES” course,

in the 2nd year of the MBA program.

3G: the competitive advantage

Professor Josep Valor

This forum, attended by academics and employers alike,

studied the new 3G technology that is about to be launched

onto the market. The conclusions reached pointed to the

fact that 3G offers many advantages, but that many

operators remain cautious as a result of previous failures.

Focused Programs – 2002-2003 academic year

Management of real estate companiesProfessors Josep Faus, Lluís G. Renart, José L. Suárez andPedro Videla

Knowledge managementProfessors Beatriz Muñoz-Seca and Josep Riverola

Project management: a [new] form of leading?Professors Jaume Ribera, Joaquim Vilà, José Mª Rodríguez,Mª Jesús Grandes and José Luis Suárez

Systems of variable remuneration in sales teamsProfessors Cosimo Chiesa and Lluís G. Renart

Corporate financeProfessors Eduard Ballarín, José Manuel Campa, JavierEstrada, Pablo Fernández, Eduardo Martínez Abascal, AhmadRahnema, Javier Santomá, Josep Tàpies and Rafael Termes

Innovation managementProfessor Joaquim Vilà

Managing the company in an entrepreneurial wayProfessors Pedro Nueno, Julia Prats and Juan Roure

Executive coaching: how to improve the competenciesof my collaboratorsProfessors Pablo Cardona and Mª Nuria Chinchilla

Sales management: how to lead, organize and makeyour sales team loyalProfessors Cosimo Chiesa and Lluís G. Renart

How can I improve my executive competencies?Professors Pablo Cardona and Mª Nuria Chinchilla

Accounting and finance for non-finance executivesProfessors José Manuel Campa, Pablo Fernández, Mª JesúsGrandes and Luis Palencia

Developing creativity and innovation in the company Professors Pablo Cardona, Pedro Nueno, Jaume Riberaand Joaquim Vilà

Relational marketing One2One:The 5 Pyramids of CRMProfessors Cosimo Chiesa and Lluís G. Renart

Negotiating effectively: an executive's daily taskProfessor Juan Roure

Corporate governance:boards of directorsProfessors Jordi Canals, Pedro Nueno and Manuel Velilla

Seminars and FocusedPrograms allow Alumni tobroaden their knowledgebase or make a moredetailed study ofindividual issues duringsessions led by members of IESE’s faculty.

18

Learning in a truly globalenvironment offers theopportunity for a fluid culturalexchange, in which individualslearn about the values andopinions of others. The IESE Alumni Associationpromotes this exchange byorganizing meetings for school’sAlumni.

Networking events

IESE Global Alumni Reunion

At our traditional Reunion, learning is combined with sharing.

We learn and share with professors, guests and colleagues

in a friendly atmosphere that sparks inspiration and

reflection.

Madrid was the venue for the 41st IESE Global Alumni

Reunion, held on November 22-23, 2002. The reunion,

hosted by Professor José Ramón Pin, offered the 1,554

Alumni in attendance the opportunity to analyze how to

build better companies, concentrating on the principles that

should prevail in the governance of a company, starting

with the board of directors.

2002 IESE Global Alumni Reunion“Building Better Companies.Renewing Corporate Governance”

Friday, November 22

Opening

Chaired by HRH the Prince of AsturiasProfessor Jordi Canals, Dean of IESE,José Martínez-Rovira, President of the Alumni AssociationProfessor Juan José Toribio, Dean of IESE in MadridAntonio González-Adalid, President, Alumni Association Board in Madrid

Economic prospects for 2003

Contribution from Cristóbal Montoro,Minister of FinanceProfessor Pedro VidelaProfessor Juan José Toribio

IESE Alumni Association Excellence in Research Awards

Saturday, November 23

The role of the chief executive in improvingcorporate governance

Antonio Brufau, President, Gas Natural GroupAmparo Moraleda, President, IBM Spain and PortugalJan Oosterveld, member of the Group ManagementCommittee, Royal Philips ElectronicModerator: Professor Josep Tàpies

Business and social responsibility

Professor Alejandro Llano, University of NavarraModerator: Professor Sandalio Gómez

Changing the top management perspectivein an era of uncertainty

Martin Sorrell, CEO, WPP Group,Moderator: Professor José Luis Nueno

Corporate governance: an ethical, strategic andfinancial viewProfessor Antonio ArgandoñaProfessor Fernando PeñalvaProfessor Eduardo BallarínModerator: Professor José Ramón Pin

Corporate governance and good governance codesFrancisco González, President, BBVA

20

Networking events

MBA Alumni Reunion

Every two years, IESE invites all Alumni who have graduated

from the MBA Program to exchange professional experiences

and perspectives with other Alumni and faculty from

different classes and nationalities.

The fourth of these bi-annual reunions, which was held on

May 31, offered the school’s characteristic warm and friendly

atmosphere. The event was attended by 550 MBAs of 38

nationalities from 28 different countries.

For the first time, the reunion also included graduates from

the Executive MBA and Global Executive MBA Programs.

The reunion included 10 sessions held in three parallel

streams, dealing with topical issues affecting the economy,

business and the professional careers of MBA graduates.

It also offered the chance for old friends from IESE to

meet up.

Parallel sessions I

10 key elements in the world economyProfessors Alfredo Pastor and Pedro Videla

Raising private capital for my business:what's possible in today's unsettling economicenvironmentNicolás de Bonilla y Villalonga, Managing Director,Apax Partners, MadridLouis Elson, founding partner, Palamon Capital Partners,LondonFrank Kenny, founding partner, Delta Partners, Dublin

Parallel sessions II

Beyond efficiencyProfessor Miguel Ángel Ariño

European retailingProfessor José Luis Nueno

Are you controlling your career?Professor Pedro Nueno

The microeconomics of competitivenessProfessor Antoni Subirà

Parallel sessions III

Leadership: a question of characterProfessor Santiago Álvarez de Mon

If you can't trust the messenger, you can'ttrust the message: corporate governanceand financial reportingProfessor Fernando Peñalva

Organization and its people: technology-basedteamwork and learningProfessor Eric Weber

Is China a threat to our industry?Professor Alfredo Pastor

22 23

Networking events

Regional Chapter Activities

They share the same business language and something

more: they live and work in the same geographical area.

They have chosen IESE to provide their management

education, and they want to share their experiences with

other members of their respective Regional Alumni

Chapters.

Following the establishment of the first Regional Alumni

Chapter in Spain, Alumni Chapters have formed in various

other countries. There are currently 19 Regional Alumni

Chapters, 12 of them outside Spain, each of them offering

different educational activities ranging from meetings

chaired by IESE professors to sessions in the Continuous

Education Program and annual reunions.

Alumni in France have established an Alumni Chapter aimed

at promoting IESE’s presence in France and strengthening

the ties between Alumni living and working in the country.

Chaired by Gerard Schoor (MBA-91), the members of the

Chapter’s first Board are Ignacio Barrón, José Luis Carbonell,

Gloria Chatelain, Frederick Dieterle, Bruno Herliq and

Christian Laveau.

Regional Chapter Reunions

OUTSIDE SPAIN

United Kingdom· London, October 16. Professor Eric Weber*· London, January 30. Professor José Luis Nueno*· London, April 1. Professor Josep Valor*· London, May 14. Professor Jan Oosterveld*· London, July 10. Professor Brian Leggett

Shakespeare in the office

USA-Canada· Palo Alto, November 22. Professor Marc Sachon. e-Enabled

Supply Chain: Thoughts and Reflections for the Road Ahead

· New York, January 24. Professor Paddy Miller. The Next Revolution in European Management: ...People?

· San Francisco, February13. Professor Juan Roure. Entrepreneurship & Private Equity: Major Challenges

Scandinavia· Stockholm, October 12. Professor Carlos Cavallé

· Oslo, October 24. Professor Javier Estrada*

· Oslo, February 11. Professor Marc Sachon. e-Enabled SupplyChain: Thoughts and Reflections for the Road Ahead

Benelux· Moergestel, September 21

Program:Corporate Governance in the Historical Perspective:the Philips Case. Professor Jan OosterveldMaintaining Your Parity: How to Avoid Personal DevaluationProfessor Pedro NuenoChanging Trends in the Financial MarketplaceChris de Vries, Managing Director, Citibank, The Netherlands,and President, American Chamber of Commerce

· Amsterdam, February 28. Professor Frederic Sabrià. B2C Logistics

France· Paris, November 29. Professor Brian Subirana*· Paris, March 27. Professor Luis Palencia. Levers of Control

* Sessions in the Continuing Education Series, referred to in the sectiondevoted to the Continuous Education Program

Andorra· Andorra la Vella, March 20

Program:Welcome and introduction to the reunion. Josep Peralba, ManagingDirector, Crèdit Andorrà, and Maria Puig, Director of the Alumni AssociationThe economy in 2003: has recovery arrived?Professor Jordi GualThe function of intuition and rationale in decision-making. Professor Josep M. Rosanas

Argentina and Uruguay· Buenos Aires, May 21. Dr Miguel Ángel Broda. Argentina: a post-

electoral economic perspective

· Buenos Aires, August 12. Professor Javier Estrada. The impact of Argentina on Spanish businesses

Brazil· Sao Paulo, August 5. Professor José Ramón Pin. Managing

management talent

Chile· Santiago de Chile, October 30. Professor Antonio Argandoña. The

world economic panorama: a view from the old continent

· Santiago de Chile, July 29. Professor Pedro Videla

Mexico· Mexico, May 22. Professor Brian Leggett. What have the classics

to do with management?

Peru· Lima, July 22. Professor Steven Poelmans. Managing corporate

stress: a management skill

Portugal· Lisbon, May 29. Professor Josep Riverola*

IN SPAIN

Navarra, the Basque Country and La Rioja· 11th Meeting of Alumni of IESE, Pamplona, March 28

Program:Welcome. José María Bastero, President of the University of Navarra,and José María Aracama, President of the Local IESE Alumni Chapterin Navarra, the Basque Country and La RiojaBusiness attitudes that take advantage of sudden changes. ProfessorCarlos CavalléDiversification and internationalization in an electricity companyJosé Luis Marín, President, Endesa RedCorporate governance, The Aldama report. Eduardo Arbizu,Director General of Legal Affairs, BBVAClose. Nuria Iturriagagoitia, Minister of Industry, Technology, Trade,Tourism and Employment at the Government of Navarra

Levante· 8th Meeting of Alumni of IESE. Valencia, June 16

Program: Welcome and introduction to the reunion. Víctor Martínez Galán,

President of the Association of Alumni of IESE in Levante, ProfessorJuan Carlos Vázquez-Dodero of IESE, and member of the Local Alumni Association Board, and María Puig, Director of the Local Alumni AssociationTowards a “new world order”? Professor Juan José ToribioCorporate strategies in the face of the forthcoming enlargementof the EU. Professor Lluís G. RenartPanel of EmployersCarlos Camahort, Managing Director, Taulell, S.A. – Tau Cerámica,Encarna Pitarch, Assistant Commercial Director for EasternCountries, the USA and Canada, ANECOOP S. COOP.Guillermo Rausell, Head of Export Sales, Manterol, S.A.The microeconomics of competitiveness. Professor Antoni Subirà

Madrid· Alumni Day. Madrid, June 25

Program:New projects at IESE. Professor Juan José Toribio,Dean of IESE in MadridAlumni Association. Act of Homage to Senior Members. Baldomero Falcones, Vice President of the Association of Alumniof IESE in Madrid, and Professor Sandalio Gómez, Director of Alumni,IESE, MadridThe new communications frontier: leaving mediocrity behind.José Antonio Zarzalejos, Director of the newspaper ABCEnergy policy and Spain’s real convergence in the EU. José Folgado,Secretary of State for Energy, Industrial Development and Small and Medium-sized Businesses, Ministry of the Economy

Aragon· Reunion of Alumni of IESE. Managing in times of uncertainty.

Zaragoza, February 25Program:Welcome and introduction to the reunion. Joaquín Franco, Presidentof the Association of Alumni of IESE in Aragon, and Professor Sandalio Gómez of IESE, a member of the Aragon Association BoardBusiness attitudes that take advantage of sudden changes. Professor Carlos Cavallé. Moderator: Joaquín FrancoExperiences of managing with successFélix Tena, President and General Manager, Imaginarium, and JoséCarlos Lacasa, Executive Vice President, Chocolates LacasaModerator: Professor Carlos CavalléEntrepreneurship: capital. Professor Pedro Nueno. Moderator: JordiSabadell, Director General, EDPClose. Fernando Gil, President, CAI

* Sessions in the Continuing Education Series, referred to in the sectiondevoted to the Continuous Education Program

24

Networking events

Class Reunions

Experience, knowledge, friendship... class reunions are an

excellent opportunity to learn from our colleagues and recall

(if we should ever forget) everything we learned from them

at IESE. The IESE Alumni Association therefore arranges and

promotes reunions in order to provide an opportunity for

these exchanges.

With organizational support from the IESE Alumni

Association office, 64 class reunions were held during

the 2002-2003 academic year, 45 at IESE and 19 at

other locations, bringing together more than 1,500

Alumni.

Class Reunions at IESE during the 2002-2003 academic yearClass President ProfessorMBA 73 Enric Crous Jordi CanalsMBA 77 Gonzalo Turell Jordi CanalsMBA 78 Francisco Freixa Jordi Canals / Juan Carlos Vázquez-DoderoMBA 82 Agustí Pla Jordi Canals / Pedro NuenoMBA 83 José Ferrer Sandalio Gómez / Juan José Toribio / José Ramón PinMBA 88 Joaquín Bachs At the MBA Alumni ReunionMBA 93 Jorge Grima Jordi Canals / José Antonio SegarraMBA 95 Mª Angeles Losa At the MBA Alumni ReunionMBA 98 Ernesto Suárez At the MBA Alumni ReunionEMBA 97 Fernando Alonso José Ramón Pin / Sandalio GómezEMBA 98 Juan Miguel Poyatos José Ramón PinEMBA 00 Pedro Caro Pablo Fernández/Sandalio GómezEMBA 02 Ricardo Lobera Pedro VidelaPADE's I 59-60 (two reunions) Casimiro Molins/Eduardo TarragonaPADE I 90 Francisco BassasPADE I 92 Montserrat Esteve Jordi CanalsPADE I 01 Mª Mar Raventós Santiago Álvarez de MonPADE 1 02 Francesc Cruellas Santiago Álvarez de MonPDG I 78 Juan Alarcón Pedro NuenoPDG I 93 Lluís Tarragona José Mª RodríguezPDG I 01 Ernest Companys Invited speakerPDG 1 02 Dalmau Ribot Frederic SabriàPDG 2 02 Ana Vila Jan OosterveldPDG I 02 Dalmau Ribot José Mª RodríguezPDG B 02 Iñigo Millán-Astray Juan Carlos Vázquez-DoderoPDD II 75 Antonio ComermaPDD I 93 Manuel Iborra Manuel VelillaPDD I 98 Gloria Ausió Frederic SabriàPDD V 98 Antonio Bernal Invited speakersPDD V 99 A Francisco Giménez Invited speakerPDD 3 00 Juan C. Bastida Nuria ChinchillaPDD B 01 Manuel MonterrubioPDD 1 01 Fernando Pugnaire Vicente FontPDD 1 02 (two reunions) Cristina Taverner Carlos García Pont / Marc SachonPDD 4 02 Elena Terraz Carlos Sánchez-RundePDD A 02 Josep M. Mas Luis PalenciaPDD 2 02 Manuel Sala Miguel Ángel AriñoPDD 3 02 (two reunions) Xavier López-Sautés Invited speaker / José Antonio SegarraPDD C 02 (two reunions) José Luis Ferrero Continuous educational ProgramPDD 1 03 Joan Carles Castellà Invited speakerPDD 2 03 Mercedes Rius Invited speaker

2726

IESE Alumni Association publications

Economic Overview

This publication is especially aimed at members of the

IESE Alumni Association and its content, produced by

members of IESE’s Department of Economics, includes

analyses of the economic situation and related issues.

The Economic Overview and the IESE Alumni Magazine

are among the services most valued by members of the

Association.

Articles2002-2003 academic year

October 2002The stability and growth pactYes, it was a bubble

November 2002When will recovery happen in the US?Spain: sober pessimism

December 2002Is deflation a danger for Germany?Spain: is higher inflation a bad thing?

January 2003…And a prosperous new year?The challenges of enlargement and the new Europe

February 2003Immigration and the economy in SpainArgentina and the IMF

March 2003And if the problem were not the war?Germany: in search of lost initiative

April 2003The economic cost of the warDon’t rest on your laurels

May 2003...and the “crystal ball” still doesn’t workThe post-war Spanish economy

June 2003Back to deflationThe boat parable: the politically correct and thetechnically dangerous

July 2003Should China revalue?The United Kingdom and the euro: a non-economicissue

IESE’sAlumni Magazine

The Alumni Magazine is the IESE Alumni Association’s most

effective means of communication. Published four times per

year, it provides information on everything that is happening

at IESE: research, programs, activities, services and events.

With a print-run of 23,200, the Alumni Magazine is one of

the leading publications in its editorial sector.

The electronic edition of the magazine expands upon the

content and services included in the printed version, offering

Internet users access to translations and material published

in previous issues. It registered 50,000 hits per month during

the last academic year.

Articles published in the Alumni Magazine”In-Depth” section

December 2002

Strategies in times of uncertainty and crisisProfessor Esteban MasifernGlobalization: challenging a common beliefProfessor Pankaj GhemawatThe daily newspapers, on the right roadProfessor Juan Manuel de ToroHow to do it? Professors Miguel Ángel Gallo and ÁfricaAriño, with Kristin Cappuyns and Isabel Mánez

March 2003Working toward unity and collegiality Professor Jordi CanalsInspiring innovation. Professor Alejandro LlanoBuilding strategy. Professor Pedro NuenoRegaining trust. Professor Antonio ArgandoñaGoing beyond efficiency. Professor Josep M. Rosanas

June 2003A boost for the EU’s Mediterranean policyProfessor Víctor PouUpward communication: mission impossible?Professor Brian LeggettThe strategy of the e-survivors. Professors. José Ramón Pinand Javier Quintanilla, with Ana García FonsecaPart-time working: a way of reconciling work and family?Professor Sandalio Gómez with Carlos Martí

September 2003Management by missions. Professor Pablo CardonaIntelligent capital for new businesses. Professor Juan RoureEuro-shop till you drop. Professor José Luis Nueno

IESE issues variouspublications that keep Alumniinformed aboutthe most recent researchcarried out by theschool’s faculty.

28 29

IESE Alumni Association publications

Electronic newsletters

Alumni can subscribe to research newsletters which are

regularly published electronically by different departments

at IESE. The Ethics Newsletter and a newsletter published

by the e-Business Center are just two examples.

IESE Insight is worthy of special mention. This monthly

publication facilitates access to new developments through

an IESE knowledge portal.

IESE Insight gathers together summaries and articles by

IESE’s own faculty and currently has 4,789 registered users,

4,460 of whom have subscribed to the newsletter.

Selected articles - IESE Insight2002-2003 academic year

November 2002How diversification affects a company's valueProfessors José Manuel Campa and Simi Kedia

Multinationals and employment relations in EuropeProfessors Anthony Ferner, Javier Quintanilla andMatthias Varul

December 2002Understanding Enron's downfallProfessor Fernando Peñalva

Don't just get things done - do the right thing!Professor Joan Fontrodona

January 2003Loyalty in organizations, why not?Professor Domènec Melé

Bidding strategies for auctionsProfessor Manel Baucells

February 2003*Beyond duty. Professor Antonio Argandoña

Attempting to slow the abuse of privileged informationProfessor Javier Estrada and J. Ignacio Peña

March 2003Strategy in turbulent timesAdrián Caldart and Professor Joan Enric Ricart

How to foster values in individuals and organizationsProfessor Antonio Argandoña

April 2003What makes employees trust their leaders?Professor Pablo Cardona and Aitziber Elola

Women in business: seven key questionsProfessor Mª Nuria Chinchilla

May 2003In search of balance between work and family in SpainProfessors Mª Nuria Chinchilla and Steven Poelmans, withConsuelo León

Part-time working in Europe. Professor Sandalio Gómez

June 2003How to develop one’s own style following the family’sfootsteps. Ercilia García Álvarez, Jordi López Sintas and PilarSaldaña

The European banks stay at home. Professor Jordi Gual

July 2003Used goods, a source of value for businesses. Ana Pérez withProfessors Miguel Ángel Rodríguez and Frederic Sabrià

Early retirement? OK, but go carefullyProfessor Sandalio Gómez

*IESE Insight began publishing a Spanish edition in February

31

Sharing

A truly global world can only by achieved throughthe open exchange of ideas and values...

The IESE Alumni Association promotes the creationof spaces and tools that will facilitate closenessand understanding among Alumni - because we knowthat sharing is also learning.

32 33

Sharing

Alumni Directory

The Alumni Directory is a tool which facilitates professional

and personal relationships among Alumni. The two versions,

on paper and on-line, register data which – in accordance

with current legislation – Alumni authorize.

Meeting Point

This is a virtual meeting point for all IESE Alumni. It includes

a discussion forum which is easy to use, along with access

to the Directory with details of those using the service.

Professional Career Services

As far as possible, the IESE Alumni Association supports the

professional careers of its members, offering both information

and advice.

Career Opportunities Service

This is a database with restricted access that channels job

offers received by the IESE Alumni Association from

companies. 1,191 jobs were offered during the 2002-2003

academic year.

Professional Profiles

This service facilitates the digital publication of CV’s and

stores a standardized database which permits selections to

be made automatically and confidentially when a company

request is received.

Global Workplace

A resource that links leading business schools around the

world, offering Alumni access to an international database

of job opportunities.

Brief consultations withprofessors

The IESE Alumni Association provides a channel through

which its members can contact faculty members and other

IESE Alumni Association members when they need direction

or advice on questions of a professional or personal nature.

Alumni@iese.net

Every month, the Alumni newsletter provides information

on current and future events at IESE, keeping Alumni

conveniently and regularly up-to-date on new programs

and happenings at the school.

This newsletter is a tool which has been widely welcomed

by the Alumni community, who see it as the best way of

keeping themselves informed of events at IESE. Its subscriber

database currently includes more than 13,000 addresses.

E-mail services

All Alumni may request a permanent IESE e-mail address.

Membership card

The membership card provides access to the financial

advantages offered to the IESE Alumni community.

Members can convert their cards into an American Express

card at no additional cost, paying any amounts charged

via a Spanish bank account. This year, the Association has

begun the process of extending this agreement to include

a platinum Visa card.

Use of IESE facilities

IESE places its facilities at the disposal of Association

members and their companies, provided that they are

reserved in advance and available at the required time.

IESE has hosted 349 meetings at its campuses in Barcelona

and Madrid during the course of this year.

The IESE Alumni Association providesthe use of its facilities as a means formembers to keep in contact withother Alumni. Moreover, events heldat the school are effective ways forcompanies and individuals to establishrelationships with the Alumnicommunity.

35

Supporting

We are a part of IESE and we share recognition ofwhat we have learned and a desire for the Universityof Navarra to take on new challenges. The IESE AlumniAssociation transforms this motivation into specificactions that support IESE’s mission to develop individualsand advance businesses.

36 37

Supporting

Membership

By the end of the 2002-2003 academic year, 24,160 students

had graduated from IESE and were working at some 10,100

companies. 8,854 are currently members of the IESE Alumni

Association, representing an affiliation rate of 39%. The rate

of affiliation among new graduates in recent years has

reached 80%.

Government of the IESE AlumniAssociation

The IESE Alumni Association, formed in 1959, has been and

continues to be a powerful tool for the integration of IESE

Alumni, promoting activities in the continuous education

program, speaking on behalf of the school’s Alumni and

spreading IESE’s message throughout the world. Given the

increase in the number of Alumni , the burgeoning range of

activities in which IESE is involved and the school’s presence

in a large number of countries, the Executive Committee decided

to undertake a review of its statutes. The Executive Committee’s

proposal was backed by the Governing Board when it met in

Madrid. Any member who would like a copy of the Statutes

can request one from the IESE Alumni Association office.

The IESE Alumni Association’s governing bodies channel and

promote the interests and contributions of each member. The

Governing Board and the Executive Committee are the bodies

charged with presenting and directing this collective effort.

The Governing Board sets down the directives by which the

IESE Alumni Association is governed, and it also elects the

group’s president. It meets at least once a year, and these

meetings usually coincide with the Global Alumni Reunion.

All the IESE Alumni Association’s members are represented

on the Board by a president and secretary from each class,

for each of the different basic programs offered by IESE. The

Board also includes the members of the Executive Committee

and a delegate from each of the Regional Alumni Chapters.

The IESE Alumni Association’s executive body is the Executive

Committee. Its work is carried out by individual committees

covering the different activities and services. As the new

Statutes indicate, the Executive Committee must present the

Association’s annual financial statements to the Governing

Board (see “financial results” on page 43).

The IESE Alumni Association’s ExecutiveCommittee

PresidentJosé Martínez-Rovira (PADE 84)

Vice-PresidentsAntonio González-Adalid (MBA 75)Javier Emilio Robles (PDG 90)

MembersJosé Felipe Bertrán de Caralt (PADE 65)Antonio Brufau (PDD 78)Jordi Canals (Dean of IESE)Enric Crous (MBA 73)Eusebio Díaz-Morera (MBA 69)Baldomero Falcones (MBA 72)Sandalio Gómez (Professor, IESE)Josep Mateu (MBA 78)Joan Molins (PDG 71)Jan Oosterveld (MBA 72)Maria Puig (Director, IESE Alumni Association)Mª del Mar Raventós (PADE 01)Josep Valor (Professor, IESE)Rafael Villaseca (MBA 76)

Jordi CanalsDean of IESE

“Since its foundation in 1958, IESE has always remained close

to its Alumni. It has always been, and still is, a privilege to

know that the school can count on the solid support of the

Association, whose innovative input assists us in directing

the continuous education programs and other services that

its members would like to receive. The Association is also a

powerful engine for IESE. We receive succinct advice, ideas

and resources from the Governing Board, the Executive

Committee and the different Regional Chapters. In short, the

Association gives us the impetus required for IESE to fulfill

its mission to serve business through top-level education.”

Regional Alumni Chapters

MadridPresident:Antonio González-Adalid (MBA 75)Vice-Presidents:Baldomero Falcones (MBA 72)José Luis Palomo (PDG 89)

Navarra, the Basque Country and La RiojaPresident: José Mª Aracama (MBA 79)

LevantePresident: Víctor Martínez Galán (MBA 78)

AragonPresident: Joaquín Franco (MBA 74 and PADE 01)

AndalusiaPresident: Carlos Beca (PDG 77)

GaliciaPresident: César Torres (PADE 83)

USA - CanadaPresident: Fred G. Folts III (MBA 91)

Russia and Eastern EuropePresidenta: Tatiana Koulakova (IFDP 92)

Central Europe (Germany, Austria and Switzerland)President: Benedikt König (MBA 95)

United KingdomPresident: Mark Paviour (MBA 91)

ChilePresident: Luis Enrique Yarur (MBA 75)

MexicoPresident: Carlos Acedo (MBA 88)

Benelux (Belgium, the Netherlands and Luxembourg)President: Jan Oosterveld (MBA 72)

Argentina - UruguayPresident: Enrique Pescarmona (MBA 67)

Scandinavia (Denmark, Finland, Iceland, Norwayand Sweden)President: Svein Tryggestad (MBA 94)

FrancePresident: Gerard Schoor (MBA 91)

PeruPresident: Ramón Camminati (MBA 77)

ColombiaPresident: Fernando Jaramillo (MBA 86)

Mark PaviourPresident, United Kingdom Regional Chapter

“When assessing an educational program, candidates must

also bear in mind the strength of the Alumni Association

at the business school in question. An effective Alumni

Association should not only concentrate on establishing

the opportunity to create contacts, promoting the brand

and attracting quality companies to employ its Alumni,

it should also create a forum for debate around current

events in the business world and new trends in

management. The UK Alumni Association had the privilege

of hosting the 2003 Global Alumni Reunion in London

and witnessing the growing internationalization of the

activities and ambitions of our Association.”

38 39

Supporting

Regional Alumni Chapters

The IESE Alumni Association is supported by numerous

Regional Alumni Chapters, which bring Alumni together

within a particular geographical area. When requested,

the Executive Committee delegates certain powers to the

Regional Chapters, where this is considered appropriate

for better and more effective development.

Chapter Alumni*

IN SPAIN 19,626

Catalonia and the Balearics 9,000

Madrid 7,210

Navarra-the Basque Country-La Rioja 1,090

Levante 1,082

Aragon 618

Andalusia 345

Galicia 281

OUTSIDE SPAIN 2,149

USA-Canada 284

Eastern States 226

Central Europe 214

United Kingdom 186

Chile 143

Mexico 117

Benelux 108

Argentina 105

Scandinavia 103

France 80

Peru 74

Colombia 54

Other countries 455

TOTAL 21,775

Alumni by Regional Chapters

* Does not include Alumni who are deceased (1,213) or for whom noinformation is available (1,172)

The IESE Alumni Association OfficeTeam

Director:Maria Puig

Alumni Director in Madrid:Sandalio Gómez

Assistant Directors:Marisa Bombardó

Nuria Campo

Ángela Martín

Katherine Semler

Administration:Lourdes Bosch

Brígida de Miguel

Eulàlia Puig

María Quesada

Mª Carmen Reyes

Ángela Valenzuela

Antonio González-AdalidPresident of the Madrid Alumni Associationand Vice-President of the Alumni Association

“The Regional Chapters play an important role in the activities

of the main Association and in providing on-going support for

IESE. Broadening the range of activities, offering cultural

expertise, acting as spokespeople for IESE and contributing to

its growth – these are all duties that fill us with pride.”

The MBA Program

Grants for students on the MBA Program

Every year, the IESE Alumni Association awards four grants

in recognition of the academic and professional excellence

of candidates admitted to IESE’s MBA Program. These grants

are intended to facilitate access to the Program for those

with limited financial resources, and they cover 50% of

tuition fees during the first and second years.

Interviews with candidates

The contribution made by Alumni in the admissions process

is particularly important in helping to attract the best

candidates. During the 2002-2003 academic year, IESE

held interviews with 734 candidates, 215 of which were

carried out by Alumni in different parts of the world.

Alumni recruitment from the MBA Program

Alumni often turn to IESE when seeking managers for their

own companies. Some 75% of the companies that recruited

at the school in 2002-2003 included IESE Alumni on their

teams.

40 41

Supporting

Excellence in ResearchAwards

One of the aims of the IESE Alumni Association is to

provide support for IESE, encouraging the development

of research and education in business management.

We are convinced that important business ideas and

solutions result from careful reflection and close

collaboration between the academic and business worlds.

With the aim of reinforcing research at IESE, the IESE Alumni

Association created the Excellence in Research Awards,

which recognize advances made by members of IESE’s faculty

in different areas of management research.

The jury comprises the following people:

José Martínez-Rovira, Rafael Villaseca, Antonio González-

Adalid, Professor Pankaj Ghemawat of Harvard Business

School, Professor Tom Malone of MIT, Dean Jordi Canals and

Professor Joan E. Ricart.

This year, awards were presented to the following faculty

members:

Professor Javier Estrada, for his research on emerging

markets. Professor Estrada’s research centers on three main

areas: capital costs in the emerging markets, the redefinition

of the concept of risk, with emphasis on downside risk, and

the valuation of Internet companies. During the past four

years he has published more than a dozen articles on these

subjects in international specialist magazines. He is also the

editor of Emerging Markets Review.

Professor Domènec Melé, for his research on ethics in

business. Professor Melé has concentrated his research on

five basic areas: the integration of ethics in business, social

responsibilities of the company, development of ethical

organizational cultures, Christian humanism in company

management and philosophical bases for management and

organization. In addition to his many articles in leading

international journals, he is founder of IESE’s International

Symposium on Ethics, now in its 12th year.

Professor Javier Quintanilla, for his research into human

resources management in multinational companies. In

recent years, Professor Quintanilla has studied in-depth

the processes used to configure human resources policy

at subsidiaries of multinational companies. To date, this

empirical work has concentrated on German, British and

French companies operating in Spain. His latest projects

concentrate particularly on U.S. multinationals operating

in different European countries. In addition to this central

line of research, he has also studied new organizational

formats and their implications for human resources, the

impact of the new economy on people management and

management competences.

Senior Members

The IESE Alumni Association is proud to include Alumni

who have been members for more than 25 years. In

recognition of their loyalty, they are honored with a

commemorative award.

During the 2002-2003 academic year, 74 Alumni were

honored at events held in Barcelona and Madrid. To date,

898 members have received this award.

Senior Members – 2002-2003 academic year

Juan Alarcón PDG-I-78

Manuel Álvarez de Saavedra PDD-I-78

Jon Imanol Azúa MBA-78

Llorenç Barrés PDD-II-78

Josep Batallé PDG-I-78

Francisco Borrás PDD-II-78

Antonio Brufau PDD-II-78

Jorge Alberto Bunster MBA-78

Miquel Canals PADE-I-78

Simeón Carbó PDD-II-78

José Luis Carbonell MBA-78

Jorge Casán MBA-78

Myrtha Beatriz Casanova PADE-I-78

Enrique Casellas PADE-I-78

Fernando Castelló PDD-I-78

Juan Castillo PDD-I-78

José Antonio Castrillón MBA-78

Jorge Ceballos MBA-78

Ricardo Chillida PDD-III-78

Alfonso Chiner MBA-78

Joan Comas PDG-I-78

Ferran Conti MBA-78

Antonio Domínguez PDG-II-78

José Fernando Donat PADE-I-78

Josep Espot MBA-78

Rubén Alfredo Estrada MBA-78

Francisco Freixa MBA-78

Ramón Gabarró PADE-I-78

Pedro Gamero del Castillo PDG-II-78

Juan García PDD-II-78

Joan Gaspart PADE-I-78

Pedro Gimeno PDD-I-78

Antonio González-Noaín MBA-78

Juan José Guibelalde PDG-I-78

Juan Ramón Guillén PADE-II-78

José Luis Gutiérrez PDG-II-78

Manuel Hernández MBA-78

Fernando Jornet PDG-I-78

José Jover PDD-I-78

Ricardo Lloret PDG-I-78

Jaime Loring MBA-78

Miquel Martí MBA-78

Víctor Martínez Galán MBA-78

Pelayo Martínez PADE-II-78

José Antonio Martínez PDD-II-78

Josep Mateu MBA-78

Emilio Montes MBA-78

Pelegrín Muñoz PDG-II-78

Ramón Mustieles PDG-II-78

Saturnino Narbón MBA-78

José Mª Nebot PDG-II-78

Ramón Ormazábal MBA-78

Eduardo Ortega de los Reyes MBA-78

Isidoro Palomeque PDD-II-78

Baltasar Parera PDG-I-78

Pedro Pérez PDD-I-78

José Pérez-Plá MBA-78

Pedro Plou PDD-II-78

Bartolomé Pons PDG-II-78

Juan Antonio Puch MBA-78

Pau Puig PDD-I-78

Pere Puigmal PDD-II-78

Juan Ramírez MBA-78

Enrique Ramos de Alós PDG-I-78

Jesús Mª Real PDG-I-78

José Ramón Rodríguez PDG-II-78

Ricardo Roglá MBA-78

Carlos Rubió MBA-78

Ángel Ruíz PDG-III-78

Xavier Salvans MBA-78

Joaquín Sánchez-Izquierdo PDG-II-78

Julio San Martín PADE-II-78

Luis Javier Segurado PADE-II-78

Jaime Singla PDG-I-78

42 43

Financial report - 2002-2003 academic year

Financial results – 2002-2003 academic year

Euros

INCOME 2,343,874

Member contributions 2,213,874Sponsorship 130,000

EXPENSES 1,941,373

Operating expenses 1,102,199

Services and activities:

Continuous Education Program 422,300

Publications 103,400

Class Reunions 47,900

Global Reunion, MBA Reunion, Meetings 263,900

Local Chapters 66,835

Grants for the MBA Program 90,000

Research Awards 30,000

Professional services 21,350

Other services and general management 56,514

Personnel Expenses 546,250

General Expenses (*) 292,924

CONTRIBUTIONS TO IESE PROJECTS 402,501

IESE faculty development 200,000

Development of teaching materials 140,000

IESE Doctoral Program 62,501

RESULT

(*) Includes the IESE Alumni Association’s office expenses: premises, telecommunications services, administration, maintenance

and technical support; also includes the cost of premises used for the Association’s activities.

44

www.iese.edu/alumni

Continuous EducationContinuous Education ProgramSeminars and Industry Meetings

Reunions and MeetingsIESE Global Alumni ReunionMBA Alumni ReunionRegional Chapter ReunionsClass ReunionsTribute to Senior Members

E-networkingAlumni Directory (Internet)E-mail serviceMeeting Point (Virtual forums)

Professional ServicesCareer opportunities (EBOC)Professional profilesGlobal WorkplaceMembership cardAMEX cardBrief consultations with professorsLibraryUse of IESE facilities

PublicationsEconomic OverviewAlumni MagazineAlumni@iese.net and other electronic newslettersAlumni DirectoryAnnual reportIESE Insight

List of the IESE Alumni Association’s services and activities