ANSWERS TO INITIAL ACCREDITATION PREVISIT LETTER

STANDARD-BY-STANDARD ANALYSIS

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STRATEGIC MANAGEMENT STANDARDS

Standard 1

The mission, vision and values of the Business Department are set out very clearly on page 15 of the SER. From this, you should be able to determine and produce a list of stakeholders that would be impacted if you successfully achieved your mission and vision. Further, you should be able to determine a set of metrics to gauge to what extend you have impacted these stakeholder groups. Please reflect on these issues prior to the PRT visit so that we may discuss this in assessing impact and capacity to impact.

The Stakeholders that can be potentially beneficiaries of the DEE activity are:1. Scientific community

Metric. Number of articles published per year in top journals. Number of citations per article.

2. Business Leaders Metric. Number of events organized with the participation of firms.

3. New firms Metric. Number of start-up firms created through the UC3M Business

Incubator that has been advised by faculty members of the DEE.4. The local community

Metric. Number of courses for elder people in which faculty of the DEE participates.

5. The public opinion Metric. Number of articles published in the media by faculty of the

DEE.

In addition to teaching, scientific research and publications, can you elaborate on the process of how you “contribute to the improvement, sustainability and social responsibility of our local and national communities”?

Putting aside teaching and research, the direct contribution of the DEE, on our local and national communities can be summarized in five basic activities:

1. Through the involvement in the University Scientific Park (http://www.uc3m.es/ss/Satellite/UC3MInstitucional/en/PortadaMiniSiteA/1371207248804/Science_Park). The DEE provides free advising for the creation and development of start-ups.

2. The participation of different faculty members in the courses for elderly people. 3. The DEE jointly with the INDEM is designing a plan for providing free

consulting to already established firms as part of our commitment to society. This service will include a premium option (not free) in case that such advising requires intensive resources.

4. Organizing academic events that put together the industry and academia on issues related to sustainability. For example, in 2014 the DEE organized a conference on smart cities.(http://madrid.strategicmanagement.net/extensions/madrid2.php)

5. Encouraging and guiding our students in the preparation of both Undergraduate and Graduate final theses exploring potential solutions to important local needs.

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In order to comply with our mission, these activities need to be further developed. Finally, it is important to emphasize that one of the main research lines of the DEE is CSR and Corporate Governance, and that putting into practice the results of this research is an strategic objective of the DEE. Along this line, the DEE has been awarded a research project by the Regional Government of Madrid that will provide funding for the DEE to advise local firms in the use of crowd-funding as a new financial resource that implies a deep collaboration between would be entrepreneurs and local and regional financial backers and customers.

How is an entrepreneurship culture promoted among undergraduates and graduates, in research and in relation to the community?

The promotion of entrepreneurship among undergraduates and graduates can be grouped in two major categories: (1) regular teaching and learning activities and (2) collaboration with the UC3M activities.

(1) With respect to teaching and learning activities we include in our academic offer a Master in Entrepreneurship and Business Venturing, a course of Innovation and Entrepreneurship in the Master in Management and two courses Innovation and Technological Change and Business Venturing and SMEs Management in the bachelor in Business Administration. In these programs, we usually invite entrepreneurs from the Madrid area who are in different stages of their careers to talk to the students so that they have first-hand contact with actual entrepreneurs. In addition, we have organized a special group on 'Start your own business' for the final undergraduate thesis. Students who choose this alternative can, then, submit their project to TFG Emprende (http://portal.uc3m.es/portal/page/portal/emprendeuc3m/trabajo_tfg_emprende). This implies further development of the undergraduate thesis, to comply with the requirements of this program. As a final step, the TFG-Emprende can be submitted to the Emprende-Awards of the Social Council and be integrated in the business incubator of the Scientific Park. Finally, during this academic year, the MBA will initiate a pilot initiative in which teams of business students will closely collaborate with scientists and engineers of the UC3M Scientific Park to help them develop a business plan for the technological products that they are developing..

(2) We collaborate with the university in the program UC3M-EMPRENDE (http://www.uc3m.es/ss/Satellite/UC3MInstitucional/es/PortadaMiniSiteC/1371207143684/Emprende). The DEE is in charge of most of the formative activities within this program:

Learning and teaching activities of the Entrepreneurship School. The courses offered in the Entrepreneurship School contribute to provide non-business students who want to start a business the required tools to develop a business plan and manage a start-up.

The Entrepreneurship Passport in an initiative that includes workshops, talks, and seminars on entrepreneurship. Students following these activities obtain credit recognition (1ECTS for every 16 hours of Passport activities).

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UC3M-Emprende is closely linked to the UC3M Scientific Park and its business incubator. This allows the DEE to contribute to the creation of new businesses in our local community. The Business Incubator Park also organizes a competition, Concurso de Ideas UC3M (http://portal.uc3m.es/portal/page/portal/investigacion/parque_cientifico/vivero_empresas/septimo_concurso_ideas) to promote entrepreneurship. This competition is open to all members of the university community and also to entrepreneurs who want to develop a project which fits with the areas of knowledge of our university.. However, and although the same opportunities are available to all students of the university, most proposals are made (and most start-ups are created) by students and faculty from the Engineering School. Therefore, our strategic plan includes the development of closer relationships with the UC3M Business Incubator.

Finally, we also collaborate with the association STARTUC3M (http://startuc3m.com//), created by alumni of the bachelor in Business Administration, in the organization of "Alternativa Emprender" (http://www.alternativaemprender.com/ an event that combines conferences where successful entrepreneurs tell about their experience and a competition, IDEAE (http://www.alternativaemprender.com/ideae.html), where business projects are submitted and winners obtain different awards that help them to develop their project.

With respect to research in entrepreneurship, it is basically channeled by three research institutes, two from the business area (mentioned below) and one belonging to the engineering school (http://portal.uc3m.es/portal/page/portal/emprendeuc3m/institutos_catedras_universitarias).

The Institute of Business Initiatives and Family Business (http://portal.uc3m.es/portal/page/portal/instituto_iniciativas_emp_empresa_familiar/Institute_Business_Initiatives_and_Family_Business) is dedicated to the development of advanced studies in the fields of business formation and family businesses. This institute channels the activities of the Bancaja Chair for Young Entrepreneurs (http://portal.uc3m.es/portal/page/portal/seccion_dept_organizacion_empresas/catedrabancaja), whose objective is the promotion of entrepreneurship among UC3M students.

The INDEM Center for Business Research aims to promote research and education in the areas of entrepreneurship and innovation.

The DEE also tries to promote research in Innovation and Entrepreneurship through some specialized courses in our research master (Master in Business and Finance) that allow students to specialize into this track (“Innovation Management”, “Research in Strategy, Entrepreneurship & Innovation”, “Advanced Topics in Strategy, Entrepreneurship & Innovation”). We organize seminars in which we invite renowned researchers in the area of Entrepreneurship to present their work. Last, but not least, during the past academic year (2015-2016) Prof. Thomas Astebro visited our department under the program

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“Cátedra de Excelencia Santander”. Prof. Astebro is a worldwide leading expert in Entrepreneurship research (http://www.business.uc3m.es/en/faculty/profesor/perfil/thomas-astebro).

How are your students taught the concepts of sustainability and responsibility? Are these concepts explicitly included as part of students’ learning goals and objectives? How is ethical behavior in students encouraged? Is this aspect included in students’ learning goals and objectives?

As a business department we teach and do research about all the different economic interactions between firms and their stakeholders. Firms generate value through long-term relationships that can only be sustained on the basis of fair contracts that are honored by the parties and/or organizational structures that provide the agents with incentives to cooperate. Therefore, the concepts of sustainability, responsibility and ethical behavior run deep in the structure of our programs. Foundation courses for undergraduates, such as Patrimonial law, Game theory or Economic history give the students insights into these issues. But, more specifically, there are several courses (both at the undergraduate and graduate levels) that make these ideas explicit. These are:

Corporate Governance and Social responsibility (taught in Bachelor in Finance and Accounting, Master in Business and Quantitative Methods, Master in Finance, Master in Management and Master in Human Resource Management)

Ethics and CSR (taught in MBA) Organizational behavior (taught in Bachelor in Business Administration, ADE,

Master in Business and Quantitative Methods, MBA, Master in Management and Master in Human Resource Management)

Management accounting and/or Financial Statement analysis (taught in Bachelor in Business Administration , in Bachelor in Finance and Accounting, Master in Business and Quantitative Methods, Master in Finance, Master in International Business)

Leadership (taught in MBA, Master in Marketing, Master in Management, and Master in Human Resource Management)

Development of an ethical attitude is one of the four learning goals which is included in the AoL process of our undergraduate degrees in Business Administration and Finance and Accounting. The difficulties found in measuring ethical attitude were in fact one of the reasons for updating our AoL process and change the specific PLO and measurements used to evaluate this goal (see page 67 of our Self Evaluation Report). When we have the new results we will be able to evaluate whether the new measurements for this learning goal work well and may consider extending them to the Master programs in the future.

There are also elective courses for Finance and Accounting and Business Administration students where they can learn about these issues from the perspectives of different disciplines such as the humanities, law and engineering. You can see the full list of these courses at:

http://portal.uc3m.es/portal/page/portal/laboratorios/sostenibilidaduc3m/docencia

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Finally, on a more practical level, the University requires student’s behavior during their time at UC3M to comply with its ethical standards and to contribute to make our institution sustainable.

The University’s ethical standards emanate from Articles 115 and 116 of the Statute of Universidad Carlos III de Madrid, that contain a list of students' rights and responsibilities with which they must comply. This list of rights and responsibilities is complemented by the Charter of Rights and Responsibilities of Students at Universidad Carlos III de Madrid, approved by the Governing Board in a session held on 4 March 2005 and the Regulations on examination revisions approved by the Management Committee in its meeting of 16 February 1994. There is a Guide for Best Practices that all students receive upon joining the University which explains the standards of conduct with which are expected of all our students. You can find more information on this at:

http://www.uc3m.es/ss/Satellite/Grado/en/TextoMixta/1371214036111/Best_practices_guide

The University’s compromise with environmental sustainability is also the basis for the recommendations for students on the correct use of its facilities and recommendations on recycling and the use of bicycles and public transportation by the students. For more information on this please refer to:

http://portal.uc3m.es/portal/page/portal/laboratorios/sostenibilidaduc3m

Is there an element of the strategic plan in place to capture the “best students worldwide”?

While in Spain we are the key reference department for business students we take very seriously the challenge of improving our international reputation. Four particular activities are key to this aim:

Our presentation card to the international community is our ranking in the main international university rankings. Carlos III ranks #20 worldbasis among the 2016 50 under 50 Qs ranking (http://www.topuniversities.com/university-rankings/top-50-under-50/2016). We strive hard to maintain and improve our rakings.

The DEE attends organized job markets in Europe and US in order to recruit international faculty from top-tier Universities.

We are one of the very few Spanish Universities that offers students the opportunity to complete our undergraduate programs fully in English.

We are active in international recruiting fairs for students.

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Could you produce a SWOT analysis of your institution at both the university and department level.

University Level

STRENGTHS Interdisciplinary Research environment Meritocratic organization International orientation Quality and commitment of human

resources

WEAKNESS Financial Constraints Low development/success of the

Alumni Association Reduced size in comparison to

other universities in the Madrid area

OPPORTUNITIES Internationalization: Connection

between Europe and Latin America Digital Education Continue the development of the

Puerta de Toledo Campus Further development of an

autonomous Business School

THREADS Changes in regulations at both

national and regional levels

Department Level:

STRENGTHS Research environment Meritocratic organization Quality and commitment of human

resources International orientation Transparent, dynamic and flexible

organization High visibility of the DEE

programs.

WEAKNESS Financial Constraints Low development of relationship

with the industry Low ratio between final

enrollment of postgraduate students / number of applications in master programs

OPPORTUNITIES Connection between Europe and

Latin America Development of the Puerta de

Toledo Campus Further development of an autonomous Business School

THREADS Changes in University regulations Strong competition from Business

Schools in the Madrid area (IESE, IE).

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Standard 2

Regarding intellectual contributions, it appears from the SER that the School has achieved a high standard in research, in particular as measured by the number and quality of -reviewed journal articles. Can you please supply some information on how this was done and what is your research strategy.

Our strategy to achieve high standards in terms of research relies on four pillars. In particular we are committed to:

a) Continue hiring competitively, and increase the salaries of new faculty members, either in form of awards for research, teaching, or the like.

b) Attracting established researchers: funding special chairs to attract and retain renowned researchers who, in turn, are poles of attraction for young researchers.

c) Maintaining an internal promotion system fully transparent and competitive, as it has been to date, where the research requirements should evolve and become more stringent as the level of research in the department improves. Therefore, the promotion criteria should not be seen as static, but dynamic.

d) Fostering the retention of talent. To this end the Department has created a strong culture of a horizontal-type organization that tries to empower young faculty members and stimulate their participation in the relevant departmental decisions, like recruiting. In this line and to stimulate the participation of foreign junior researchers, the Department’s Board Meetings are conducted in English and the internal communications are also in English. Such a horizontal approach in the organizational design has made our department attractive to good candidates that have finally accepted our job market offers with wages below market levels. Over the last 4 years, we have recruited junior candidates from Harvard (Ayfer Ali), Cornell (Emre Ekinci), Wharton (Carlos Bellón), New York University (Sergio Vicente and Paulo Maduro), Lausanne (Markus Simeth), Groningen (Eline DeVries), Seoul National University (Hyungjin Cho) as well as established senior academics (José Marín, who graduated from Univ. Pennsylvania, and Beatriz García Osma, who graduated from Lancaster University). Also, our “horizontal” orientation biases our recruiting towards a type of candidate, who normally has wide cross-field research interests. This stimulates the collaboration among the different knowledge areas of the Department (Accounting, Finance, Management and Marketing) and generates long term collaboration projects that help us in the retention of talented faculty members. Nevertheless, we have to find new ways to set faculty members’ salaries closer to reference European universities (such as Tilburg, Bocconi, etc…).

We can summarize the DEE research policy in three keywords: Research, Meritocracy and Transparency.

-Research is the cornerstone of the Business-UC3M and shapes the design of the overall organization with the aim of achieving the objective of maximizing the quality of the research output. As mentioned in the previous points, we provide the incentives to ensure this objective through monetary compensation and teaching reductions to faculty

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members who publish in top-tier journals. Also, promotion to Associate professor as well as Full professor requires proven excellence in research performance. The minimum milestones are fixed ex-ante and are publicly known (they can be downloaded from the Department intranet). Promotion requires publication in top-tier journals as well as positive reports from two external examiners from foreign Full professor specialized in the particular area of research of the candidate. The requirements to be promoted to Associate professor are more demanding than those fixed at the Spanish national level. For example, in the last promotions to Associate Professors, the candidates had at least one publication in a top-tier journal. As a consequence 44% of Assistant professors in the last 4 years have not obtained a permanent position in the Department (5 decisions were negative, 3 left before the expected negative decision and 10 were promoted).

In our research strategy, another key element is the Department Research Institute (INDEM http://portal.uc3m.es/portal/page/portal/indem/home/welcome). We channel through the institute most of the fund-raising activities of the department, either through the application to different competitive research calls, or through other activities, like the design of onsite courses for firms. The INDEM is a key instrumental element to give incentives to research through research awards for publications in top-tier journals.

-Meritocracy. Our motto is that “your work is what supports you, nothing else matters”. This is more than a statement, it is part of the DNA of the Business-UC3M. Three basic rules ensure that the department is as meritocratic as possible. First, in contrast to the common practice in Spanish academia, the department has a strict rule of not hiring its own PhD students and instead searches for its Assistant professors in the American and European junior job markets. This routine junior recruitment activity has led over the years to an average inflow of 2-4 new Assistant professors from non-Spanish Universities every year. The entire department is involved in the recruiting process, through highly interactive research seminars and interviews between the candidates and faculty members. Second, assistant professors know ex-ante, in a very transparent way, what milestones they have to achieve to be promoted. Third, the final decision of promotion is made by a committee composed of all professors with tenure. All promotion decisions are supported by two external evaluations of international experts in the research field of the candidate.

-Transparency. The Business-UC3M follows a full-disclosure policy that involves every aspect of the organization. In particular, students’ teaching evaluations are made public in the intranet of the Department, the teaching load of all faculty members is known; salaries, which are different among Assistant professors, are also known. Our experience is that such transparency policy is well appreciated by young faculty members and complements our efforts to generate world class research in a meritocratic environment.

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Standard 3

Do you have a contingency plan to cope with the event of an important reduction in financial resources from the Madrid Regional Government? More generally, do you have a risk management plan?

The University has already coped with an important reduction in public financial resources. The table below shows some financial data from the period spanning from 2008 to 2015:

  2008 2009 2010 2011 2012 2013 2014 2015

Revenues 166,46 178,88 181,05 176,11 148,84 153,1 153,46 162,87

Ordinary Revenues 26,01 29,46 34,37 32,91 39,2 41,06 44,45 44,33

Fees 20,82 24,08 24,61 28,35 29,55 36,32 41,42 39,83

Other ordinary revenues 5,19 5,38 9,76 4,56 9,65 4,74 3,03 4,5

Public funding 140,33 149,33 146,04 143,21 109,64 112,04 109,01 118,55

Ordinary public funding 109,89 104,7 110,38 103,7 91,42 88,2 85,63 87,94

Investment public funding 30,44 44,63 35,66 39,5 18,22 23,83 23,39 30,61

Expenses 184,63 173,43 191,85 187,91 164,37 165,05 165,25 161,59

Operating expenses 175,99 161,25 179,78 154,95 125,79 123,95 123,25 126,27

Ordinary expenses 176,17 161,54 180,22 175,34 150,89 153,04 156,23 154,47Source: Annual accounts 2008-2015

The impact of the financial crisis is evident in the reduction of public funding since 2009. After a period of steady increase in the operating revenues, composed basically of public contributions from the Regional Government, we had to face a significant decrease, that affected not only the annual contribution, but also some financial commitments that the Regional Government decided not to honor (this brought about a legal procedure that was won by the University and that will imply the reception of 40 million euro). Regional Government contributions comprise several concepts that can be grouped in basic funding for operating expenses and funding for investments. Illustration 3.1. shows the evolution of the University budget and the Regional Government contribution, that declined from 61,78% of total budget in 2001 to 53,18% in 2016.

Illustration 3.1. Evolution of the University budget and the Regional Government contribution (2007-2016)

2,007 2,008 2,009 2,010 2,011 2,012 2,013 2,014 2,015 2,0160.00

20.0040.0060.0080.00

100.00120.00140.00160.00180.00200.00

158.04

175.93

174.43

177.51

178.34169.62

157.50153.70

153.82

159.72

97.64

96.59

98.34

95.25

91.08

91.93

81.97

79.67

83.10

84.93

UC3M Budget Regional Government Contribution

10

80.000

90.000

100.000

110.000

120.000

130.000

140.000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Operating expenses Operating Revenues

The most difficult year in terms of public funding was 2012. The university responded to this challenge on two levels. On the one hand it implemented a Plan of austerity and savings. On the other hand it diversified the sources of income. An increase in both students’ fees and in private funding helped compensate the sharp decline in public funding. Despite the success of these measures, the university has also needed to use its reserves in 2010 and 2011 to compensate the decline in public funding as shown in Illustration 3.2 below. Since 2013 the financial situation seems to be stabilized, with a small improvement in 2015. We do not think it is likely that we will need to confront further declines in funding in the near future, however we do not expect either significant improvements to the current situation. Therefore, we will have to continue working in the diversification of our funding sources and also in controlling our operating expenses.

Illustration 3.2: Evolution of operating revenues and expenses, 2004-2015

Standard 4

Can you provide other admission statistics for undergraduate programs and, if possible, a comparison of these with admissions statistics of other business schools in Spain

We have included the admission statistics for all public universities in Madrid, plus two universities in Catalonia that belong to the Alianza 4 U, that is a strategic partnership, founded in 2008, between four Spanish public universities: UC3M, the Universidad Autonoma de Barcelona (UAB), the Universidad Autónoma de Madrid (UAM) and the Universidad Pompeu Fabra in Barcelona (UPF); all with the accreditation of "Campus of International Excellence". This university partnership aims to enhance international mobility of students, researchers and academics; collaborate on research projects with universities around the world; and in the academic offer.

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BACHELOR BUSINESS ADMINISTRATION

  2.016-2017 2.015 – 2016

Places

First option Applicants Admission

Average Accep- tance Grade Places

 First option Applicants  Admission

Average Accep- tance GradeNº % Nº % Nº % Nº %

Universidad Carlos III de

Madrid 625 1299 208% 681 109% 11,388 645 1356 210% 690 107% 11,37

Universidad de Alcalá 225 221 98% 290 129% 7,864 225 201 89% 265 118% 8,057

Universidad Autónoma de

Madrid 450 563 125% 495 110% 10,228 450 560 124% 495 110% 10,294

Universidad Complutense 940 801 85% 911 97% 8,937 952 899 94% 961 101% 8,923

Universidad Rey Juan Carlos 1714 981 57% 1327 77% 7,715 1622 939 58% 1375 85% 7,577

Universidad Autónoma Barcelona 230 281 122% 235 102% 9,22 220 311 141% 229 104% 9,65

Universidad Pompeu Fabra na na na na na na 170 442 279% 184 108% 11,38

BACHELOR FINANCE AND ACCOUNTING

2.016-2017 2.015-2016

Places

First option Applicants  Admission

Average 

Accep- tance Grade Places

First option Applicants  Admission Average 

Accep- tance GradeNº % Nº % Nº % Nº %

Universidad Carlos III de Madrid 100 125 125% 100 100% 9,976 110 123 112% 125 114% 9,817

Universidad de Alcalá 75 38 51% 90 120% 6,37 75 53 71% 90 120% 6,275

Universidad Rey Juan Carlos 195 126 65% 195 100% 6,985 180 96 53% 170 94% 6,535

Universidad Autónoma Barcelona 150 140 93% 157 105% 6,96 160 140 88% 168 105% 7,25

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Concerning Table 5.3. “average acceptance grades…” It seems there is an error in admission scores for the 2013-2014 cohort?

The correct data are shown in the table below.

Table 5.3: Average Acceptance Grades and Minimum Acceptance Grades2015-2016 2014-2015 2013-2014

ProgramAverage

acceptance grade

Minimum acceptance

grade

Average acceptance

grade

Minimum acceptance

grade

Average acceptance

grade

Minimum acceptance

gradeUndergraduate Business Administration (All campuses)

11.37 10.55 11.31 10.49 11,13 10,42

Undergraduate Finance and Accounting

9.82 8.58 9.88 8.68 9,58 8,39

Bachelor Programs UC3M 10.651 10.479 10.288

In addition to student enrollment and vacancies admission statistics to the various programs, would it be possible to see number of applicants, accepted students, ratio of accepted students/applicants, accepted students/enrollment and so on, of the past few years.

PROGRAM 2014-15 2015-16 2016-17

MASTER BUSINESS ADMINISTRATION MBA

Places 40 40 40

Applicants 115 112 88

Applicants / Places 288% 280% 220%Accepted students 55 49 37Accepted stud. / Applicants 48% 44% 42%Enrollment 32 27 24

Enrollm./ Accepted stud. 58% 55% 65%

MASTER HUMAN RESOURCES

MANAGEMENT

Places 40 40 40Applicants 64 90 84Applicants / Places 160% 225% 210%Accepted students 43 50 47Accepted stud. / Applicants 67% 56% 56%

Enrollment 30 33 40

Enrollm./ Accepted stud. 70% 66% 85%

MASTER IN BUSINESS AND QUANTITATIVE METHODS

Places 25 25 25Applicants 99 65 89Applicants / Places 396% 260% 356%Accepted students 25 22 27Accepted stud. / Applicants 25% 34% 30%Enrollment 17 14 19

Enrollm./ Accepted stud. 68% 64% 70%

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PROGRAM 2014-15 2015-16 2016-17

MASTER MANAGEMENT

Places 40 40 40Applicants 110 98 89

Applicants / Places 275% 245% 223%Accepted students 59 87 86Accepted stud. / Applicants 54% 89% 97%

Enrollment 37 32 47

Enrollm./ Accepted stud. 63% 37% 55%

MASTER IN FINANCE

Places 40 40 40Applicants 152 154 176Applicants / Places 380% 385% 440%Accepted students 50 67 61Accepted stud. / Applicants 33% 44% 35%

Enrollment 37 36 43

Enrollm./ Accepted stud. 74% 54% 70%

MASTER IN MARKETING

Places 40 40 40Applicants 126 152 142Applicants / Places 315% 380% 355%Accepted students 42 59 67Accepted stud. / Applicants 33% 39% 47%Enrollment 36 40 40

Enrollm./ Accepted stud. 86% 68% 60%

MASTER IN ENTREPRENEURSHIP AND

BUSINESS VENTURING

Places 40 40 40Applicants 106 114 150Applicants / Places 265% 285% 375%Accepted students 96 93 82Accepted stud. / Applicants 91% 82% 55%Enrollment 25 33 39

Enrollm./ Accepted stud. 26% 35% 48%

MASTER IN INTERNATIONAL

BUSINESS

Places 30 30 30

Applicants 36 22 96

Applicants / Places 120% 73% 320%Accepted students 32 11 94Accepted stud. / Applicants 89% 50% 98%

Enrollment 13 9 61

Enrollm./ Accepted stud. 41% 82% 65%

PHD IN BUSINESS AND QUANTITATIVE METHODS

Places 40 40 40Applicants 30 37 63Applicants / Places 75% 93% 158%Accepted students 4 8 9Accepted stud. / Applicants 13% 22% 14%Enrollment 4 8 8

Enrollm./ Accepted stud. 100% 100% 89%

Would it be possible to provide undergraduate admission statistics broken down by campus (Colmenarejo and Getafe) (given that the % separation statistics appear to be very different between the two campuses).

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2016-2017 2015-2016

Places

First option Applicants Admission

Average Accep- tance Grade

Lowest Accepta

nce Grade Places

First option Applicants Admission

Average Accep tance Grade

Lowest Accepta

nce GradeNº % Nº % Nº % Nº %

Business Administration

Colmenarejo 170 164 96 195 115 10,441 9,277 170 161 95 190 112 10,633 9,347

Business Administration

Getafe 455 1135 249 486 107 11,760 10,365 475 1195 252 500 105 11,630 10,204

Business Administration All Campuses 625 1299 208 681 109 11,382 645 1356 210 690 107 11,355

Can you explain the difference between Colmenarejo and Getafe regarding percentage separation and percentage of professors participating in Colmenarejo (and why it is particularly difficult to attract professors to this campus)?

The higher separation is explained by two different factors:1/ The lower average acceptance rate of students at Colmenarejo Campus.2/ For many students at Colmenarejo Campus their studies where not choosen as their first option.

Therefore higher separation is a consequence of lower students’ quality and we believe there is no Campus quality effect. Notice also that separation rates in Business Administration are lower than in Finance and Accounting precisely because the average acceptance rate in Business Administration ishigher.

The difference between Colmenarejo ang Getafe regarding the percentage of professors participating is due to location issues. Colmenarejo is located in the northeast of Madrid, 50 km from the city center. This means that it takes around 45-60 minutes to reach the campus by car and, in addition, it takes longer to reach it using public transportation. In addition to this problem, the department’s research activities are almost exclusively based on Getafe, and both the Colmenarejo and PPuerta de Toledo Campuses are used for teaching. Therefore, it is difficult to attract professors to that campus.

The DEE tries to stimulate the participation of the faculty at Colmenarejo Campus by offering a reduction in the teaching load for those members with a significant teaching load at the Colmenarejo Campus (at least 6 modules). The DEE also increases funding for research projects for those faculty members that teach at least 6 modules at the Colmenarejo Campus. Standard 5

Please provide a list of non-core professors, their academic degrees, employment position and place of work.

 

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AREA OF KNOWLEDGE: FINANCE AND ACCOUNTING

Name Academic Degree Employment Position Place of work

Alvarez Hernandez, Gloria Master Consultant-Research FREELANCE

Alvarez Martinez, Miguel Angel Master Head of Strategy TELEFÓNICA DE ESPAÑA

Barbero Inchaurbe, Asier Master Internal auditor REPSOL

Bautista Callejo, Diego Master Financial Services Consultant ACCENTURE SLU

Blanco Sanchez, Ivan Master Associate Director BBVA

Caballero Lorente, Alberto Master Director of Capital team. Financial market risk area. GRUPO SANTANDER

Cabrera ., Matias Daniel Master PhD student UC3M

Carrillo Menendez, Santiago Phd Full Professor UNIVERSIDAD AUTÓNOMA DE MADRID

Castellanos Quintana, Juan Vicente Máster Project/research manager TNS INVESTIGACIÓN DE MERCADOS Y OPINIÓN S.L.

De Bruine Ashby, Cheril Ann Master Executive Education FREELANCE

Del Pozo Hernando, Jaime Master Consultant FREELANCE

Enrile Doutreligne, Carlos Master International trade consultant & professor

ICEX – CECO, ESIC, UNIVERSIDAD POMPEU FABRA

Enriquez Hochreiter, Margarita Master International transport and logistics consultant FREELANCE

Esteban Lario, Javier Master Director Equity small & medium analyst GRUPO BANCO SABADELL

Estévez Olleros, Alberto Honorino Master Head of Balanced Funds and SRI BBVA ASSET MANAGEMENT

Fernandez Macho, Cesar Master Fixed Income Mutual Fund Manager DWS INVESTMENTS

Fernandez Scrimieri, Bruno Master Consultant SANTA LUCIA SEGUROS

Ferreras Labra, Rodrigo Master Head of Investment Control & ALM. (Financial Risk) SANTA LUCIA SEGUROS

Franco Agra Guerra Bonifacio, Diogo Alexandre Master Digital Transformation - Head

of Department GENERALI

Garcia Saiz, Sergio Javier Master PhD student UC3M

Gomez-Escalonilla Martin, Eduardo Master Director of legal compliance BANCO MADRID

González Urteaga, Ana Phd Associate Professor UNIVERSIDAD PÚBLICA DE NAVARRA

Goudie Pujals, Manuel Master External consultant PROMONTORY FINANCIAL GROUP

Guardiola Sanz, Javier Master Emea controller NCR

Gutierrez Carbonero, Angel Master Project Management leader worldwide ALCATEL LUCENT

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AREA OF KNOWLEDGE: FINANCE AND ACCOUNTING

Name Academic Degree Employment Position Place of work

Hernández Banadik, Nicolas Jorge Master PhD student UC3M

Hillier-Fry ., Camilla Anne Master Partner PEOPLE MATTERS

Houghton Torralba, Miguel Master Sales Manager TMR B2B ASSOCIATED CONSULTING

Jimenez Ausin, Sergio Master Investment funds manager BANCO POPULAR ESPAÑOL

Jofre Gonzalez-Granda, Jeronimo Master Consultant FREELANCE

Laborda Herrero, Juan Master Founder Razona Estudio de Economía y Finanzas

Lamas Villar, Jacobo Master Executive director-New Products Development BBVA

Llamazares García-Lomas, Olegario Master Director GLOBAL MARKETING STRATEGIES

Lopez Millan, Manuel Master Economist FREELANCE

Lopez Sanchez, Joaquin Master Secondary School teacher COMUNIDAD DE MADRID

Macedo ., Demian Nicolas Master PhD student UC3M

Majid ., Faiza Master PhD student UC3M

Martin Magdalena, Jorge Master CFO PRISA GESTIÓN DE SERVICIOS

Martin Santo Tomas, Raquel Master Financial Manager HISPANO FOXFILM SAE

Masia Tejedor, Jorge Master Lawyer DLA PIPER SPAIN SL

Mateo Macias, Miguel Angel Master Administrator ESCUELA DE LAS ARTES UC3M

Maudo Arranz, Fernando Master CEO CORONEL TAPIOCA

Mercado ., Facundo Master PhD student UC3M

Miguel Moreno, Sergio Master Senior Manager BBVA

Minguito Lobos, Jose Luis Master Consultant PONZANO GESTIÓN SL

Montes Gayton, Gloria Master Consultant FREELANCE

Pascual Caneiro, Lorenzo Jose PhD Director (Partner) NEWBERS R&R

Reina Gomez, Enrique Master Head of Risk Management BANCO ALCALÁ

Rivas Lopez, Maria Victoria Master Professor Business & Actuarial Science ESCP EUROPE

Rodríguez García, Rafael Master Mergers & Acquisitions ATLAS CAPITAL

Rodriguez Maeso, Jorge Master CFO LOGISTA LIBROS (GRUPO PLANETA)

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AREA OF KNOWLEDGE: FINANCE AND ACCOUNTING

Name Academic Degree Employment Position Place of work

Rodriguez Morales, Rafael Master CEO ONEPLAN CONSULTING SL

Roselló Conde, Angel Manuel Master Deputy director Foreign Trade

CÁMARA DE COMERCIO E INDUSTRIA DE MADRID

Salamanca Cuevas, Victor Master CEO AUXADI CONTABLES & CONSULTORES S.A.

Saurina Salas, Jesus Master Partner PEOPLE MATTERS

Scarlat ., Alexandra Elvira Master PhD student UC3M

Toledo Rey, Carlos Master Senior OfficerCENTRO PARA EL DESARROLLO TECNOLÓGICO INDUSTRIAL (CDTI)- MINECO

Urbano Perez, Jose Antonio Master Senior officer UC3M

Val Leiva, Jose Antonio Del Master Lawyer MADA SOLUCIONES LEGALES SL

Varas Fuente, Oscar Javier Master Risk Manager CAJA SEGOVIA

Vazquez Lopez, Antonio Master PhD student UC3M

Viñas Rueda, Lorena Master Tax Expertise Lawyer ASHURST LLP

Vizoso Estrades, Fernando Master Consultant RPM6 ASESORES SL

Zareei ., Abalfazl Master PhD student UC3M

Zhang ., Yanlei Master PhD student UC3M

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AREA OF KNOWLEDGE: MANAGEMENT

Name Academic Degree Employment Position Place of Work

Al Said Albella, Aisha Master Fundraiser and responsible of M&A

FUNDACIO FUTBOL CLUB BARCELONA

Baxter ., Eoin Master Academic and R&D Director HE GREEN MONKEY AND BAXTER BUSINESS SERVICES

Blasco Bocigas, Pablo Master CEO and Founder INTRENDIA

Boixados Ruiz De Aguiar, Ramon Master Vice president TUREIA SOFTWARE

Calvo ., Jose Manuel Master Managing Partner COACHMINDS

Cuesta Sanchez, Alvaro Master CEO and Founder SONAR VENTURES

De La Calzada Fernandez, Rosa María Master CEO and Founder INSIDE CONSULTORES SL.

Feria ., Jose Manuel MasterVice-rector Strategy, employment and entrepreneurship

UNIVERSIDAD PABLO DE OLAVIDE

Font ., Elena Master HR consultant FREELANCE

Garcia Garcia, Angel Master Founder and CEO PLAYEA.ES / SHUFFLEU

Gribling ., Maria Master HR consultant FREELANCE

Jara Santamera, Miguel Angel Master Manager ADESGAM

Lazaro Uceda, Gabriel Master Sales Director QUEST GLOBAL ENGINEERING ESPAÑA SL

Lopez Alonso, Gregorio Master CEO INNOVACION, PROGRESO Y RESULTADOS, S.L.

Lopez Pascual, Joaquin Master Board of Directors BFA

Martin Casillas, Federico Master Freelance Business Analyst & Planning TELEFÓNICA GLOBAL SOLUTIONS

Moreno Pascual, Cesar Master CEO & Founder LEGATIA TECHNOLOGIES

Noguera Lorente, Carlos Master Promotion Director ASENTIS

Pla Barber, Jose Master Full Professor UNIVERSIDAD DE VALENCIA

Prieto ., Mariano Master Master Black Belt. Continuous Improvement Manager ENUSA INDUSTRIAS AVANZADAS

Quinlan ., Peter Master Professor/Coach ESCP EUROPE

Sanchez ., Juan Ignacio Master Full Professor FLORIDA INTERNATIONAL UNIVERSITY (USA)

Soto Gonzalez, Federico Master Professor Management UNIVERSIDAD EUROPEA

Tang ., Ziyuan Master PhD student UC3M

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AREA OF KNOWLEDGE: MARKETING

NAME Academic Degree Employment Position Place of Work

Alcon Martin, Ricardo Master Client Business Partner THE NIELSEN COMPANY

Barbera Durban, Maria MasterInternational Marketing Manager LA LIGA

Böttcher ., Jan MasterResearch Manager Marketing Science GFK EMER AD HOC RESEARCH

Cerrada ., Gabriel Master CEO GROUP OVERLAP

Fuertes Garcia, Maria Jose MasterDigital Banking Business Development Manager ISBAN

Magariño Peñalba, Victor MasterDirector of Marketing and Sales

COMUNYCARSE NETWORK CONSULTANTS

Martinez Picabia Ledesma, Francisca De Asis Master Research Director SINTRA U.M.S.LMichavila García, Aurora Master Founder and CEO ESPACIO FUERAS DE SERIE, S.L.

Peñasco Patón, Cristina Master PhD student

CONSEJO SUPERIOR DE INVESTIGACIONES CIENTÍFICAS (CSIC)

Perez Sanchez, Paloma MasterInternational Business Unit Director

THERMOMIX INTERNATIONAL DIVISION

Razola Serradilla, Celia Master Assistant marketing digital DIAGEORus Gutierrez, Juan De Master Partner CONSULTORA NEOVANTASStewart ., Simeon Master Marketing Analytics BBVATapias Dominguez, Fernando Master CEO TAPIAS & BELLIDO CONSULTINGVazquez Gonzalez, Maria Master Manager Brands & BND SPORTING COMPANY

Veiga Mateos, Jaime MasterGlobal Strategic Insights - Southern Europe Head JOHNSON & JOHNSON

Vicente Galan, Laura MasterConsumer & Marketing Insight (CMI) Manager L’ORÉAL ESPAÑA

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AREA OF KNOWLEDGE: ECONOMICS

NAME Academic Degree Employment Position Place of Work

Alvarez Torres, Pedro Master Operations and Project manager SERVOSIS

Bartolomé Santos, Áurea Master Senior consultant CONSULTORÍA INDEPENDIENTE EN ESTRATEGIA Y REGULACIÓN

Cubells Angresola, Jose Francisco Master Consultant ATOS SPAIN SA

Diaz Lau, Diala Master Operations Manager ACTIVIDADES CULTURALES Y MUSICALES S.L.

Martinez Matute, Marta Phd Senior Analyst BANCO DE ESPAÑA

Merino Merino, Jesus Maria Master Internal Auditor COMISIÓN NACIONAL DEL MERCADO DE VALORES

Panthofer ., Sebastian Master PhD student UC3M

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AREA OF KNOWLEDGE: STATISTICS

NAME Academic Degree Employment Position Place of Work

Abad Zapatero, Maria Master Senior Programme OfficerAG. ESPAÑOLA COOPERACION INTERN PARA EL DESARROLLO ( AECID)

Benchimol ., Andres Gustavo Master PhD student UC3M

Gómez Díaz, Mario Master Head Data Analyst CAJA SALAMANCA Y SORIA (CAJA DUERO)

Guadarrama Sanz, Maria Master PhD student UC3M

Herrera De La Cruz, Jorge Master Consultant FREELANCE

Izquierdo Gato, Jose Manuel Master Manager CEPA PEDRO GRUMIEL - C.A.CAST-MANCHA

Liberatore ., Federico PhD Junior Researcher INSTITUTO MIXTO UCIIIM-BANCO SANTANDER

Liu ., Ling Master PhD student UC3M

Montes Gutierrez, Ignacio PhD Professor UNIVERSIDAD OVIEDO

Nguyen ., Hoang Master PhD student UC3M

Nuñez Lopez, Raquel Master Economist TELEFÓNICA

Ribes Rossiñol De Zagranada, Juan Master Maritime Consultant FREELANCE

Sguera ., Carlo Master PhD student UC3M

Ugaz Sanchez, Willy Ericson Master Full Professor UNIVERSIDAD DE PIURA

Vega Vicente, Pilar Master Deputy director Economic Analyst

COMISION NACIONAL DE LOS MERCADOS Y LA COMPETENCIA

Yera Mora, Yoel Gustavo Master PhD student UC3M

Zhu ., Weixuan Master PhD student UC3M

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Standard 6

Please provide a brief description of HRS4R and DOCENTIA and the current stage of implementation.

The Human Resources Strategy for Researchers Project1 will help the UC3M to make the professional career of researchers more attractive, to adapt policies and practices on Human Resources to the European Research Area, and to improve University Excellence in Research. In addition, the impact of the best practices in Human Resources processes for Researchers, such as selection and training, will enable UC3M to improve working conditions, attracting new talent as well as retaining existing talent. It will also provide growth in UC3M capabilities, to allow it to compete with leading research institutions.

The Human Resources Strategy for Researchers HRS4R is based on five points:1. HR Policy Institution Internal Analysis in relation to C&C principles2. Publication of the Strategy/Action Plan3. European Commission (EC) approval and Excellence Logo concession4. Strategy Implementation and Self- evaluation (at least every two years)5. External evaluation (at least every four years)

The University has designed an Action Plan (see Annex 6.1) involving the entire University Community, through meetings, focus groups, presentations, a questionnaire, a new website, among other, and considering recommendations of the OTM-R Report (Open, Transparent and Merit-based Recruitment of Researchers, published in July, 2015). The UC3M Executive Board approved the Action Plan on May 11th, 2016. It includes seventeen improvement measures to be implemented in the following three years. The Action Plan covers the period 2016-2018 and is organized into four areas: (1) Ethical and Professional Issues, (2) Recruitment, (3) Working Conditions and (4) Training and Career Development. Each action is defined together with the Unit or individual responsible for it, a timeframe for the completion of the action, and one or more indicators. The development and progress of this Action Plan will be overseen by a Monitoring Group.

The program Docentia-UC3M aims to assess the quality of teaching activities and serves as a basis to biannual teaching financial incentives for faculty. Thirteen indicators grouped in four dimensions are measured:1. Co-ordination and learning outcomes (max. 65 points):

1.1. Co-ordination 1.2. Students´ satisfaction1.3. Undergraduate and graduate theses directed, with higher score if they are

submitted to the program Emprende2. Teaching material and innovation (max. 15 points)

2.1. Text books2.2. Specific teaching material for disabled students2.3. Teaching innovation projects

1http://www.uc3m.es/ss/Satellite/UC3MInstitucional/es/TextoMixta/1371219051045/HRS4R:_Estrategia_de_Recursos_Humanos_para_Investigadores

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3. Globalization (max. 20 points)3.1. Courses taught in English3.2. Promotion of international agreements within the Erasmus program or non-

European mobility3.3. Courses taught in the ERASMUS PDI program and in programs linked to the

university co-operation projects3.4. Participation in mentoring programs

4. Compliance with teaching duties: this dimension corrects the previous score, so that if compliance is not adequate, the final score will be adjusted by the degree of compliance. 4.1. Compliance with grades deadlines4.2. Program actualization4.3. Compliance with policy of publishing office hours.

The program defines four categories of teaching quality: Excellent if scores are above 90 points, highly favorable between 70 and 90 points, favorable between 50 and 70 and in need of improvement if the final score is below 50.

The assessment process entails four stages. The first stage is completed by the administration of the university and provide faculty with the data of the main indicators for revision. The second stage consists in the submission of the faculty self report, that may require a report of the head of the department if required by the Assessment Commission. This Commission evaluates all the submissions in the third stage and produces a provisional assessment report. In the final stage, after a period of claims to the provisional reports, the final assessment reports are sent.

Last Docentia assessment was performed in 2014, still as a pilot program, following the recommendations of the National Accreditation Agency. In this assessment 172 professors were randomly selected. The results are shown in the table below.

Assessment data 2014 Docentia-UC3M2014 DOCENTIA- UC3M Number of Faculty

Nº %Excellent.Equal to or above 90 points

8 5%

Highly FavorableEqual to or above 70 points and less than 90 points

81 47%

FavorableEqual to or above 50 points and less than 70 points

68 40%

Need to ImproveLess than 50 points

15 9%

Regarding Faculty Review, how is teaching measured?

Teaching is evaluated based on two sources of information Students’ evaluation. It is important to note that promotion requires a grading of at

least 3 over 5.

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The information provided by the coordinator of the corresponding subject through a written report that complements the Minutes of the coordination meetings.

How are new faculty trained in the University’s and DEE’s mission and strategic pillars?

Each new faculty member is assigned a Tutor, who is an Associate or Full Professor of the corresponding area. This Tutor has the responsibility to transmit to the newcomers the Department’s mission and strategic values.Apart from this mentoring, the Department Chair is personally involved in the training of the new faculty members through different meetings in the first semester of their career in the DEE.

Standard 8

In your discussion of the Annual Improvement Plan in 9.1, you mention that each degree commission includes a student delegate and sub-delegate. Can you please give more detail in terms of how student feedback is incorporated into the process of ‘closing the loop’.

During the course student delegates and sub-delegates channel students petitions and complains to course coordinators. More importantly, they play an important role during the meetings and discussions of the degree commissions at the end of each semester. Their input is crucial to understand and analyze the reasons behind students’ responses to the formal course evaluation forms for course content and instructional effectiveness (see page 82 of the SER). Moreover they are especially well placed to make suggestions for improvements to the different courses that are included in the degree. Their opinions and therefore included in the program reports that emanate from the degree commissions once a year in September and are then passed on within the revision program as explained on pages 65 and 66 of our Self Evaluation Report.

You mention refinements that have been made to the AOL process (p. 67). At the time of the visit, additional information on the process for developing and refining assessment methods and rubrics will be needed.

As mentioned in the SER the AoL system was first introduced during the 2012/13 academic year and revised during the 2014/15 academic year. The revision process followed the steps that are detailed bellow:

Initial assessment: A study commission formed Prof. Josep Tribó as the Head of the Business Administration Department, Prof. Marta Macias, who was responsible for the first implementation of the AoL system, and Prof. María Gutiérrez, as responsible for the revision process, met to analyze the annual AoL reports for the last three years and produce a diagnosis of the necessary improvements.

Proposal for changes: The initial assessment was followed by a meeting with the Vicedecanos responsible for the undergraduate degrees and the Directors of our Masters’ programs. The initial assessment was discussed and alternative solutions to the problems where proposed.

Draft of a new AoL system: Following the proposals of the previous meeting Prof. María Gutiérrez elaborated an initial draft to be used as an initial step for

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the posterior drafting of the specific AoLs for each degree. This common draft was intended to make the AoL process coherent for all our programs.

Individual meetings with the program directors: During the meetings between Prof. Gutiérrez and the professor responsible for each degree, the common draft was adapted to the philosophy and specific program requirements of each degree.

Approval of new the new AoL system for each degree by the Department council.

Implementation: The new AoL system was implemented during the first semester of academic year 2015/16.

Please provide learning goals and objectives for each academic program; relationship between degree courses and program learning objectives; assessment methods and benchmark measures for each learning outcome; criteria for evaluation of the students’ learning outcome results; (SER website link is not accessible).

We have solved the problem with the link. Please go to: http://portal.uc3m.es/portal/page/portal/titulaciones_grado/acredita/Accreditation_Report(AACSB) . We are really sorry about this. A printed copy of the reports will be placed in the base-room.

GENERAL COMMENTS

The Peer Review team generally found this to be a well written report. However, there are several links to web pages throughout the report that are not live. It would be very helpful if you could send these links in Word format (or hyperlinked) so pages can be accessed easily. Some PRT members have also found difficulty in accessing the SER website – please check its functionality.

We have checked all these links.

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Annex 6.1.

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