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#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• Five global leaders join the HEC Foundation
• Rewarding efforts to rethink business
• Charting new territory in Sino-EU relations
• Worldʼs largest commercial employer appoints HEC Paris
as global trainer
• HEC: equal opportunity educator
• HEC's Custom Executive Education programs rank second worldwide
• HEC Alumnus of the year: Alain Weill
• A new vision for the Grande Ecole
• Training entrepreneurs to weather the storm
• HEC and iTunes U expand access to information
• Luxury: a strategy for success
• World business leaders share their vision
• HEC boosts open-enrolment opportunities for top executives
• The HEC MBA turns 40
• Calendar of speakers, debates and special events.
Save the date!
DISCOVER RESEARCH@HEC, OUR ONLINE MAGAZINE
INQUIRIES & COMMENTS | TERMS AND CONDITIONS
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
An ambitious strategy for the HEC brand
The HEC name has long been synonymous with professionalism and academic
excellence in France and across Europe. Today, as the market for higher
education becomes increasingly international, we are setting our sights on the
rest of the world and developing a branding strategy to match our vision.
Creating a global brand is no simple task. There are two ways to be
“international”. We could have focused solely on building international programs
to attract top French students. Instead, we opted to develop a truly international
brand, capable of attracting the best students and faculty from around the world.
Iʼm confident that this direction holds the most promise for HEC.
A brand is more than just a concept; itʼs a living idea that must be continually
reinforced through concrete actions and decisions. Each year, HEC takes steps
to ensure that we can attract the top students, recruit the best professors,
expand our international programs, and partner with leading international
companies.
Rankings have also played an important role in strengthening our brand
recognition in Europe and raising awareness of HEC around the world. The fact
that HEC has topped the Financial Times ranking of European business schools
for the past three years sends a strong signal to prospective faculty, students
and partners. Our Custom Executive Education programs were recently ranked
#2 in the world by the FT, further indicating the excellence of our academic offer.
Deciding on a strategic direction is just the first step toward creating a
recognizable global brand. Strengthening and communicating this image through
creative, high-impact marketing is a crucial next step. Something as simple as
attaching “Paris” to the HEC name is a clear, concise way of conveying a sense
of culture, history and elegance—qualities for which France is renowned the
world over.
Each new collaboration strengthens the HEC brand, enhancing our global image
and enabling us to recruit and select the cream of the crop. Initiatives like the
HEC Foundationʼs €100 million capital campaign help strengthen relationships
with a diverse international community of companies and business
professionals. In addition, the investment of €120 million by the CCIP
contributes to building world-class facilities. Recent agreements with globally
recognized schools such as MIT and La Sorbonne, and with leading brands like
Apple and Google, are a strong affirmation of HECʼs approach to business
education and innovative management training.
Moving forward, HECʼs strategy will continue to showcase our interdisciplinary
teaching and research, our academic excellence and selectivity, and our
international openness. These strengths already set HEC apart on the European
market and will help build awareness of our brand on a global scale.
Bernard Ramanantsoa
Dean of the HEC School of Management and Chairman of CEMS
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• Five global leaders join the HEC Foundation
• Rewarding efforts to rethink business
• Charting new territory in Sino-EU relations
• Worldʼs largest commercial employer appoints HEC Paris as global trainer
• HEC: equal opportunity educator
• HEC's Custom Executive Education programs rank second worldwide
Five global leaders join the HEC Foundation
The HEC Foundationʼs ranks swelled to over 50 companies with the recent
addition of five new members. Nomura, a leading global financial services
group; Freshfields Bruckhaus Deringer, a top international law firm;
Accenture, a global management consulting, technology services and
outsourcing company; GE, a highly diversified technology, media and financial
services company, and Crédit Agricole, one of the foremost banking groups in
Europe, are the latest companies to demonstrate their commitment to innovative
business research and education at HEC.
Building on a solid foundation
For Francis Bailly, Senior Business Executive, GE International, joining the
HEC Foundation alongside such renowned companies is a source of pride and
an investment in his companyʼs future. “Expanding our global activities requires
a diverse pool of leaders who share a common culture of excellence,” he says.
“Thatʼs why we work with top international institutions like HEC that offer a range
of programs to train the leaders of tomorrow.”
HEC Foundation members not only benefit from privileged access to the
schoolʼs world-class business education programs; they can also take an active
role in HECʼs global development. Joining the Foundation enables companies
to boost their on-campus visibility and engage directly with students through
company presentations, student visits and interview simulations. Companies can
further target their support by financing specific pedagogical, research or
campus improvement projects.
Forward-thinking partnerships
As HEC embarks on the most ambitious fundraising initiative in its history, the
support of leading international companies is more vital than ever. “These
companies will provide valuable support for our capital campaign and help HEC
achieve its long-term objectives,” says Daniel Bernard, Chairman of the HEC
Foundation. These objectives include: strengthening HECʼs scholarship
program, reinforcing research efforts, integrating state-of-the art learning tools
and boosting HECʼs international profile.
As the HEC Foundationʼs Executive Committee extends a warm welcome to
these recent additions to the Foundation, Dean Bernard Ramanantsoa looks
forward to the mutually beneficial relationship that lies ahead. “Foundation
members are able to exchange information and ideas with our talented faculty
and students. Members of the HEC community, in turn, gain access to exciting
career and research opportunities with leading companies around the world,” he
explains. “Each of these companies is a global leader in its respective field.
Their desire to partner with HEC reaffirms our place among the top management
schools in the world.”
at a glance:
2008 Results
€7.6 million collected (up 25% on 2007)
€5.4 million to fund financial aid, research, pedagogy and international
development
50 partner companies: 3 new chairs, 4 new partners, 1 center
42 Major Donors (over €150K)
€905K raised from other donors (three times the amount in 2007)
1,200 donors (up 40% on 2007)
Contact the HEC Foundation:
Barbara de Colombe, General Director
Tel.: +33 (0)1 39 67 97 07
fondation@hec.fr
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• Five global leaders join the HEC Foundation
• Rewarding efforts to rethink business
• Charting new territory in Sino-EU relations
• Worldʼs largest commercial employer appoints HEC Paris as global trainer
• HEC: equal opportunity educator
• HEC's Custom Executive Education programs rank second worldwide
Rewarding efforts to rethink business
(left) Jérôme Mérel presents Le Chênelet.
(right) Left to right: Mounir Fassouane and Bénédicte Barbry from Norauto Group, Aboubacar
Kourouma from E-Social Transfert
The Rethink Awards ceremony, held in Paris on March 24, 2009, paid tribute to
companies and students involved in developing innovative and sustainable
business models. Organized by HEC in partnership with Les Ateliers de la
Terre, the awards aim to identify, analyze and promote innovative responses to
challenges such as climate change, the depletion of natural resources and social
inequality.
According to Bénédicte Faivre-Tavignot, Academic Director of the
Sustainable Development Masterʼs Program and Executive Director of the
newly launched Social Business Chair, “The underlying objective of the
initiative is to rethink the economy and reinvent the enterprise. We are all aware
of the need to adapt our current business models, which are not sustainable.
We urgently need to invent new models that put less pressure on resources and
contribute to reducing poverty.”
Innovation across the board
The Rethink Awards promote business models that have already proved viable
for established companies and innovative start-ups. They also reward students
who are working to develop new models or expand existing frameworks and
apply them to new situations.
“About 200 companies and start-ups were identified, together with 30 highly
innovative student business plans,” Faivre-Tavignot explains. “Proposals were
evaluated by a jury of professionals and entrepreneurs, based on their
originality, profitability and environmental and social response to todayʼs
challenges.”
The award ceremony opened with a presentation of the nine candidates
shortlisted for awards in three categories: established companies, start-ups and
business plans. Gunter Pauli, founder of Zero Emissions Research & Initiatives,
delivered a keynote address and participated in a roundtable discussion with
Pierre Rabhi (Philosopher and Founder of Colibris), Clara Gaymard (President
of GE for Northwestern Europe) and Henri Proglio (President and CEO of
Veolia Environnement).
And the winner is…
The established businesses trophy went to Chênelet for its work constructing
eco-friendly social housing throughout France. The start-up Windela was
honored for its Windelux innovation. Windelux is the first autonomous streetlamp
that uses renewable energies, enabling regional governments to meet
environmental objectives and reduce their electricity budget. E-Social Transfert
was recognized for its entrepreneurial business plan, which contributes to the
fight against food insecurity in Guinea through an online virtual store for Guinean
expatriates.
The winners were showcased in short films that will also be broadcast on the
Ushuaïa cable TV channel. As Faivre-Tavignot notes, “The Rethink Awards
raise awareness of sustainable business initiatives and illustrate HECʼs ongoing
efforts to help students integrate sustainability into their daily lives.”
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• Five global leaders join the HEC Foundation
• Rewarding efforts to rethink business
• Charting new territory in Sino-EU relations
• Worldʼs largest commercial employer appoints HEC Paris as global trainer
• HEC: equal opportunity educator
• HEC's Custom Executive Education programs rank second worldwide
Charting new territory in Sino-EU relations
Chinaʼs rapid development and increasingly open economy are having a
profound impact on the global business landscape. Once viewed largely as an
untapped consumer market, China is emerging as a strong international
business player in its own right. The result is a challenging—but exciting—time
for both China and Europe.
Mapping out strategies
HEC Paris, in partnership with Tsinghua Universityʼs School of Economics and
Management, has developed a new Executive Education program to help
Chinese and European executives develop strategies to address this shifting
business landscape. Navigating Sino-EU Opportunities provides participants
with the insight, skills, experience and contacts they need to identify and seize
new business opportunities as China establishes its place in the global market.
The program brings together an equal number of Chinese and European
managers for two five-day modules, one in Paris and one in Beijing. Although
the program focuses on strategy and not cross-cultural management, this
balanced approach ensures participants gain a better understanding of business
motives in both regions.
A wealth of opportunity
“The Chinese government wants its firms to play an active economic role
outside of China,” explains Joshua Kobb, Director of International Development
and Strategic Partnerships for Executive Education at HEC Paris. “Many in
China equate internationalization with acquisition. Certainly this is one tool for
international growth, but it is not the only model. Chinese firms first need to
understand international growth strategies, then analyze the tools available to
meet those objectives.”
For European companies, itʼs a question of dealing with market newcomers.
“The initial reaction is to be wary of competition,” says Kobb. “In this program,
we strive to explore how this movement may present strategic opportunities for
European firms, specifically in the form of partnerships, joint ventures and other
commercial relationships.”
The big picture
Navigating Sino-EU Opportunities is a welcome edition to HECʼs Executive
Education portfolio in China, which already includes the Advanced
Management Program in Fashion & Luxury, offered in partnership with the
French Fashion Institute and Tsinghua University. Thanks to partnerships with
two influential state commissions—the State-owned Assets Supervision
Administration Commission and the National Development and Reform
Commission—HEC also offers its EMBA program in both Beijing and Shanghai.
“HEC recognizes Chinaʼs strategic importance in international business,” says
Bernard Ramanantsoa, Dean of HEC Paris. “This new program is a natural
next step in our ongoing collaboration with Chinese institutions in the area of
Executive Education.”
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• Five global leaders join the HEC Foundation
• Rewarding efforts to rethink business
• Charting new territory in Sino-EU relations
• Worldʼs largest commercial employer appoints HEC Paris as global trainer
• HEC: equal opportunity educator
• HEC's Custom Executive Education programs rank second worldwide
Worldʼs largest commercial
employer appoints HEC Paris
as global trainer
When Lalu Prasad, until recently Indiaʼs Minister for Railways, recognized the
need to restructure the countryʼs rail system, he turned to HEC for strategic
support. He understood that realizing Indian Railwaysʼ ambition—to be the
number one railway in the world—would require a change in management style
and a shift in focus towards enhanced competitiveness.
To achieve this, Indian Railways and HEC are launching a groundbreaking new
global training program in June 2009. Despite the downturn, Indian Railways,
the worldʼs largest commercial employer, is investing in employee development
across all levels of the organization. The five-year executive education
agreement will position HEC as the largest supplier of management training for
Indian Railwaysʼ 1.4 million-strong workforce.
A custom solution
In the past four years, Indian Railways has turned its operating losses into a
$5 billion profit. Now, the company is looking to equip its managers with the
skills and training they need to transform the state-owned Indian Railways into a
globally competitive business.
“Indian Railways needs a custom program partner school that can correctly
diagnose our learning needs and align training with our strategic and
organizational objectives,” explains Ragini Yechury, Executive Director of
Training and Personal Development for Indian Railways. “The programs
developed by HEC Paris bring training into an international context in order to
rethink conventional working models.”
HEC has developed a customized series of training programs centered on three
core values: helping participants adopt a “business commercial mindset”,
strengthening their customer focus and fostering collaboration between
departments. Over 250 managers and executives will participate in the
programs, which have been developed for the specific learning needs of three
different levels of Indian Railways employees.
A global model
Hosted in eight countries on four continents around the world, HECʼs training
program for Indian Railways is truly unique. It is the first of its kind to combine
broad cultural immersion with unparalleled exposure to the worldwide transport
industry. Sessions held in Europe, Australia, Japan, Korea and China expose
railway managers to best practices developed by international transportation
leaders and offer valuable opportunities for cultural immersion and
benchmarking.
Deputy Dean Bertrand Moingeon, responsible for executive education and
academic development at HEC, marvels at the global nature of the Indian
Railways partnership. “This program was designed for an Indian company, but
logistics will be managed in Beijing, and the actual training will take place in a
number of countries around the world,” he says. “This historic contract
symbolizes the international reach of executive education at HEC.”
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• Five global leaders join the HEC Foundation
• Rewarding efforts to rethink business
• Charting new territory in Sino-EU relations
• Worldʼs largest commercial employer appoints HEC Paris as global trainer
• HEC: equal opportunity educator
• HEC's Custom Executive Education programs rank second worldwide
HEC: equal opportunity educator
Bernard Ramanantsoa, Xavier Romatet, Henri Proglio, Daniel Bernard, Eloïc Peyrache
With the support of the HEC Alumni Association and the HEC Foundation,
HEC recently launched a new need-based scholarship initiative aimed at
enhancing social diversity on campus. The groundbreaking scholarship will
cover entrance exam and tuition fees for all eligible students.
Valuing diversity
“Supporting access to excellence is a priority” explains HEC Foundation
Chairman, Daniel Bernard. “One of the main objectives of is
to promote the schoolʼs social diversity.” Henri Proglio, President of the HEC
Council, confirms this ongoing commitment: “Responsible performance is at the
core of our development strategy,” he says. “This means working to take our
place among the top business schools in the world while opening our doors to
students from underprivileged backgrounds. We are convinced that diversity is a
key factor in our continued success.”
Breaking down financial barriers
The premise is simple: removing the “ability to pay” barrier encourages a more
diverse pool of applicants which, in turn, enhances the quality of participants
and education. HEC Dean Bernard Ramanantsoa quickly dismisses
suggestions that “democratization” could devalue HEC training in any way. “We
want to reduce the psychological barriers that arise not only among high school
students, but their parents and counselors too,” he says.
The HEC community has already demonstrated its commitment with a generous
outpouring of support for the next generation of HEC participants. Since the
Alumni Association launched the initiative with a €100,000 kick-off gift on April
7, more than one hundred alumni have contributed over €80,000.
A €300 gift is enough to cover one week of tuition for a talented student in
financial need. This new scheme, financed by the HEC Foundation, will enable
the school to allocate approximately €1.5 million in financial aid in 2009, a 25%
increase from 2008. More than 200 students will receive scholarships, with 80
benefitting from full tuition coverage beginning next September.
A long-term commitment
According to Nicole dʼAnglejan, head of HECʼs Equal Opportunities program,
“This initiative is fully aligned with the actions we have taken over the past
several years to provide long-term support for students from impoverished or
isolated areas.” Dean Ramanantsoa affirms this commitment: “We have made
significant progress in expanding the cultural and academic diversity of HEC
Paris,” he says. “This initiative affirms our commitment to social diversity.”
To support this initiative and make a gift, please click here.
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• Five global leaders join the HEC Foundation
• Rewarding efforts to rethink business
• Charting new territory in Sino-EU relations
• Worldʼs largest commercial employer appoints HEC Paris as global trainer
• HEC: equal opportunity educator
• HEC's Custom Executive Education programs rank second worldwide
HEC's Custom Executive
Education programs rank
second worldwide
The Financial Times 2009 Custom Executive Education ranking places HEC
second worldwide, confirming its leading position in the highly competitive
executive education market. More than 5,600 participants responded to the FT
survey, which evaluates schools based on criteria ranging from program design
to faculty diversity and value for money.
A comprehensive ranking
The FTʼs ranking of the worldʼs best custom executive education programs
covers programs that are tailor made for specific companies. HEC ranked
second in the world and first in Europe for its custom programs, up nine places
from 2007. These programs, which are developed in close collaboration with
companies, help executives face industry challenges and gain a fresh
perspective on their business operations and management approach.
Making good on a promise
In the combined ranking, which compiles scores for custom and open-enrolment
programs, HEC ranked fifth in the world. Survey respondents, including both
participants and businesses, gave the programs high marks for their ability to
meet expectations and potential for future use.
For Professor Bertrand Moingeon, Deputy Dean of HEC Paris, Executive
Education and Academic Development, this proves that HEC successfully
delivers on its promise. “At HEC, ʻThe more you know, the more you dareʼ is not
just a philosophy; it is a reality,” he says. “Our Executive Education programs
offer participants a transformative experience that encourages new ways of
thinking and leading.”
Growing recognition at home and abroad
The FT ranking confirms what many at HEC already know: that HEC Executive
Education is truly world class. Outside Europe, the rankings boost visibility for
the school and help to attract senior managers and executives from top
international companies. “Over the past few years, HEC has joined the group of
global leaders, but we are still less well-known than many of the other schools
on the list,” explains Professor Moingeon. “Being ranked alongside, and often
above, these schools, raises our international profile.”
As HEC Executive Education continues to expand its global reach and ambition,
it will draw on HECʼs traditional strengths: cutting-edge research and business
insight. “Forging links between academic excellence and corporate needs is at
the core of our development strategy,” says Professor Moingeon. “This alchemy
—combining research with business to spark innovation—is the key to our
continued success.”
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• HEC Alumnus of the year: Alain Weill
• A new vision for the Grande Ecole
• Training entrepreneurs to weather the storm
HEC Alumnus of the year:
Alain Weill
Alain Weill is President of NextRadioTV and a graduate of the HEC MBA
Program. He was recently voted HEC Alumnus of the Year by his peers. Here,
he shares his thoughts on entrepreneurship and reflects on his time at HEC.
What makes a successful entrepreneur or "intrapreneur"?
First and foremost, a successful entrepreneur must have passion.
Entrepreneurs have to love what they do, since entrepreneurship—or
“intrapreneurship” within a company—is an intense undertaking that often leads
into the unknown. Entrepreneurial activities require a great deal of stamina and
commitment; you canʼt engage in them at less than 100%. Without the passion
to embark on an entrepreneurial adventure, a budding entrepreneur will not have
the energy required to succeed.
Once the passion is there, entrepreneurial excellence is a matter of vision,
determination and self-confidence. Vision allows the entrepreneur to imagine
models that do not yet exist and analyze their potential to succeed in the
market. Determination and self-confidence are also key ingredients, as they help
the entrepreneur persevere to the point of success. Entrepreneurial activity is
characterized by uncertainty; it rarely meets with immediate encouragement or
instant success.
What questions do you ask yourself before embarking on a strategic
move?
I believe it is crucial to undertake a careful risk analysis. You have to ask
yourself what is at stake. What are all the possible consequences? How could a
potential failure affect the company? Would it irreversibly tarnish its image or
compromise finances? Though a degree of uncertainty is intrinsic to any
strategic move, it is important to look before you leap!
This year marks the 40th anniversary of the HEC MBA Program. In what
ways has your MBA education at HEC influenced your career?
The MBA program at HEC was the ideal way to complete my education. The
program was designed to impart highly relevant skills and knowledge, encourage
us to think outside the box and hone our capacity for critical analysis. I had a
great deal of mental stimulation from a rich curriculum delivered by outstanding
faculty. I also received a great deal of motivation from my fellow students. They
were a brilliant, determined and passionate bunch. The opportunity to interact
and exchange with these colleagues on a daily basis was an educational
experience in itself. I was very fortunate to have been surrounded by excellence
during my years at HEC.
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• HEC Alumnus of the year: Alain Weill
• A new vision for the Grande Ecole
• Training entrepreneurs to weather the storm
A new vision for
the Grande Ecole
Eloic Peyrache, Associate Professor of Economics at HEC, was recently
named Associate Dean of the HEC Master of Science in Management
program. We spoke to him about the latest developments at the Grande Ecole
and his vision for the programʼs future.
What do you think truly sets the HEC Masters in Management program
apart?
Ranked number 1 in Europe by the Financial Times, HECʼs MSc in management
is unique in that it places equal emphasis on academic excellence and on
applying knowledge in the field. I believe strongly in both of these dimensions:
they give our students the foundation to express their business creativity to the
fullest. They are also part of HECʼs unique DNA, which is instantly recognizable
in todayʼs management education market.
How does HEC put this philosophy into action?
To promote our studentsʼ academic development, we have significantly
reinforced our faculty in recent years. It is extremely important that our students
have access to thinkers who are actively engaged in research and publishing,
and whose work pushes the boundaries of our business know-how.
We encourage our students to question current models and tools, so that they
can stay at the cutting edge, even after they graduate and embark on their
careers. But practice remains very important. We strive to provide the right
balance between theory and practice throughout our curriculum.
Can you tell us about HECʼs efforts to restructure its international offer?
Two years ago, we decided to extend our international program through a
Global Exchange Program for first-year HEC students. At the Master level, our
main program is currently the joint degree with CEMS, the Masterʼs in
International Management, for Masterʼs students.
We have also established double-degree agreements with leading institutions
around the world, such as MIT or Freie Universität of Berlin. This last
partnership enables our students to develop an understanding of public policy
and management that will prepare them to work at the intersection of business,
government, international agencies and non-profit organizations.
In your opinion, what impact will the crisis have on future HEC graduates?
Are you taking special measures to prepare them for this difficult period?
The crisis is, naturally, causing companies to take a wait-and-see approach to
recruitment. They want to maintain ties to the campus, however, so they can be
present at the first signs of economic recovery. Their presence at our various
forums has been comparable to previous years. The crisis also has short-term
effects on salaries for young graduates, selectivity during the recruitment
process and which sectors are recruiting.
To address the questions and needs of future HEC graduates, our Career
Service has bolstered individual counselling, to complement the services they
provide throughout studentsʼ time at HEC. They have also strengthened our
corporate relations, in order to glean the most up-to-date information on which
sectors are recruiting and pass it on to our students, who can adapt their career
paths accordingly.
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• HEC Alumnus of the year: Alain Weill
• A new vision for the Grande Ecole
• Training entrepreneurs to weather the storm
Training entrepreneurs
to weather the storm
In November 2008, HEC alumni Guillaume le Dieu Deville and Arnaud
Portanelli launched Lingueo.com, an online platform that connects people
wishing to learn a new language with tutors around the world. Students choose
their tutors à la carte, according to their interests and on the basis of ratings by
other students. The courses are conducted using video conferencing technology
and offered at highly competitive prices.
Finding the silver lining
Guillaume, who graduated from HECʼs Specialized Masterʼs program in
Digital Business Management in 2006, believes Lingueoʼs services are more
valuable than ever in the current economic climate. “With unemployment rising,
people need to learn new skills—including new languages—to remain
competitive and boost their employability. In addition, people looking to diversify
their revenue sources will find that tutoring is a golden opportunity.”
Lingueo matches people wanting to learn a new language at a reasonable price
with tutors seeking additional revenue. Itʼs a flexible, affordable solution that
creates a win-win scenario for everyone involved. “Although economic
downturns are challenging times for businesses, they can also provide the
impetus for new models, services and concepts,” reasons Guillaume.
Prudence pays dividends
“At the beginning of our 18-month development phase, we couldnʼt see the
crisis on the horizon. Even so, we made a conscious decision to do much of the
work in-house in order to minimize our dependence on external capital,”
Guillaume explains. “Today, given the shortage of investment capital in the
marketplace, we wouldnʼt have had that choice. This sensible decision at the
outset showed that we have a healthy business model that works.”
HECʼs Specialized Masters in Management and New Technologies is where
aspiring entrepreneurs like Guillaume and Arnaud gain the tools to succeed.
Under the leadership of Director Julien Lévy, the program helps participants
develop and hone the business skills required to become top entrepreneurs. “In
addition to exchanging ideas and plans with our peers, we had the opportunity
to gain valuable insights from directors and founders of leading companies.
Although these individuals ultimately achieved success, they too faced setbacks
and failures along the way,” says Guillaume. “This experience equips you with
the solid foundation needed to anticipate and tackle the challenges you will
encounter as an entrepreneur.”
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
PREVIOUS ISSUES | SUBSCRIBE / UNSUBSCRIBE | DOWNLOAD NEWSLETTER IN PDF FORMAT
• HEC and iTunes U expand access to information
• Luxury: a strategy for success
• World business leaders share their vision
• HEC boosts open-enrolment opportunities for top executives
HEC and iTunes U expand
access to information
With the upcoming launch on iTunes U, HEC is reinventing how business
schools deliver course content and interact with Internet users. More than 200
universities around the world have embraced Appleʼs mobile learning platform
since its debut in 2007. HEC is the first business school to participate in the
project, joining the ranks of leading universities such as Stanford, Oxford and
MIT.
Building the mobile classroom
HECʼs iTunes U profile will comprise a public site, with information about HEC
courses, research and highlights of academic and student life. The platform will
also include an area restricted to the HEC community, which provides course-
based material such as videos and podcasts of faculty lectures.
Adding flexibility and mobility to traditional learning and study methods, iTunes
U will enable HEC students to download audio or video lectures and notes
directly to their portable MP3 players and replay them at home or on the go.
Users can also create and submit their own multimedia content.
A platform to promote knowledge
iTunes U provides HEC with an additional way to promote its expertise to
Internet users around the world. While many HEC professors already produce
their own podcasts and online tutorials, the iTunes U platform has the capability
and capacity to aggregate this material in a central domain. Apple supplies the
necessary technology, and the university will be responsible for managing the
content, with a project manager in the IT department dedicated to assisting
students and staff.
HEC and Apple strengthen their partnership
The longstanding relationship between HEC and Apple has flourished this year.
The leading technology company recently established a research and teaching
chair at HEC to explore the uses and benefits of technology in management
education.
MBA graduate Pascal Cagni, General Manager and Vice-President, Europe,
Middle East, India and Africa (EMEIA), of Apple, believes that HEC shares
Appleʼs vision for the role of technology in todayʼs educational and business
environments. “Innovative Apple solutions like podcasting have elevated the
HEC MBA experience to a whole new level of collaboration,” he confirms.
For Valérie Gauthier, Associate Dean of the HEC MBA, exposing MBAs to
cutting-edge technology is a core objective. “An MBA program must offer its
participants a chance to experience and anticipate innovation, particularly in the
field of technology, which is so crucial to 21st century business,” she explains.
“Initiatives like the Apple Chair and the new track in Management of Innovation
and Technology increase our participantsʼ knowledge and performance and
prepare them to face the business challenges of tomorrow.”
published by HEC / edited by WordAppeal
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JUNE 2009
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• HEC and iTunes U expand access to information
• Luxury: a strategy for success
• World business leaders share their vision
• HEC boosts open-enrolment opportunities for top executives
Luxury: a strategy for success
In the following interview, HEC Professors Vincent Bastien and Jean-Noël
Kapferer offer insight into their new book, The Luxury Strategy (Kogan Page,
2009), and discuss avenues for further exploration.
What made you decide to write this book?
Vincent Bastien: While there are many books written about luxury, none of
them offer a concrete and comprehensive explanation of what “luxury strategy”
means, or how it can be applied to all aspects of management, from marketing
to finance and human resources. Instead, they approach luxury from a
philosophical or historical point of view, trace the history of a luxury brand or
trade, or focus on a specific aspect of luxury management, usually distribution or
communication.
Jean-Noel Kapferer: In order to teach, you must be able to define concepts
clearly and coherently, and provide precise documentation. Widespread
confusion over the meaning of luxury and terms like “accessible luxury,”
“mastige,” and “new luxury” have led us to believe that “luxury” is an all-purpose
word, devoid of meaning. But there is a luxury strategy that can be defined
clearly and precisely. It was, therefore, necessary for us to write this book as a
pedagogical tool. Moreover, it seemed logical that French professors teaching in
France would take on the task of defining a strategy that was essentially
invented by French brands.
How can the luxury strategy help businesses in the current economic
climate?
VB: This strategy is adapted to the current climate for several reasons. First, a
luxury strategy is a strategy to manage “scarcity,” and we are entering a world of
scarcity. Second, a luxury strategy is based on highly skilled, recognized work.
Unrestrained outsourcing and low-cost production strategies that decrease
quality rather than increasing productivity have no future. Third, a luxury strategy
is based on creation, not imitation. Clients are tired of a bland world where
everything is standardized and homogenous. Finally, a luxury strategy respects
the client as a person, and people have had enough of being treated simply as
anonymous consumers.
Do you have any plans to collaborate on other projects? If so, what kinds
of projects can we expect from you in the future?
JNK: The next logical step is to explain how to apply this luxury strategy, which
was developed in very specialized trades such as leather goods, watchmaking
and hotels, to other trades, specifically new technologies. We also focused
primarily on European brands, but this strategy can similarly be applied to
emerging countries, particularly China.
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
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• HEC and iTunes U expand access to information
• Luxury: a strategy for success
• World business leaders share their vision
• HEC boosts open-enrolment opportunities for top executives
World business leaders share their vision
Pascal Cagni addresses MBA participants during Visions of Leadership Week
Respected international business leaders gathered at HEC for the second
annual Visions of Leadership Week, organized by the HEC MBA Program.
Over 200 HEC MBA participants from 55 countries participated in the week-long
leadership training event, which drew such high-profile guest speakers as
Ferdinando Beccalli-Falco (President and CEO International, General
Electric), Jean-Cyril Spinetta (Chairman of the Board of Directors, Air France
KLM), Sir Peter Westmacott (Ambassador of the United Kingdom in France)
and Ben Verwaayen (CEO, Alcatel-Lucent).
Hands-on leadership training
Visions of Leadership Week focused on “acts of leadership”, a concept
participants explored through interactive conferences, case-study workshops
and seminars that covered topics ranging from psychology and decision making
to leadership, politics and economic crises. Throughout the event, participants
were encouraged to question guest speakers and share their professional and
personal leadership experiences.
Answers during uncertain times
At a time when economic uncertainty leaves all business leaders vulnerable to
making poor choices, this yearʼs Visions of Leadership Week paid special
attention to decision making. In preparation for Visions of Leadership Week,
HEC Professor of Economics and Decision Sciences Itzhak Gilboa chaired
a two-day Decisions - Theory, Experiments, and Applications Workshop for
47 top researchers and academics from around the world. The seminar took a
theoretical, experimental and practical approach to decision-making problems
and academic research in economics.
A legacy of leadership
Visions of Leadership Week was the culmination of a yearlong seminar cycle at
the Visions of Leadership Center, established in 2008 in partnership with
LʼOreal. The Visions of Leadership Center and its programs are dedicated to
supporting innovation in management research and teaching. The Center also
serves as a meeting ground for researchers, business leaders, recruiters and
students to identify business trends and problems, and work together on
solutions.
The Visions of Leadership Center reflects the HEC MBAʼs guiding principle that
leadership can be taught. “Leadership is an act,” says Valerie Gauthier,
Associate Dean of the program. “In order to be a leader, you need relational
know-how.” According to Daniel Bernard, President of the HEC Foundation
and Vice-President of Kingfisher, “The globalization of business means that
leaders are exposed to a wider array of challenges than ever before. This center
explores the causes and consequences of these challenges and trains leaders
to address them effectively.”
published by HEC / edited by WordAppeal
#21
Newsletter
JUNE 2009
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• HEC and iTunes U expand access to information
• Luxury: a strategy for success
• World business leaders share their vision
• HEC boosts open-enrolment opportunities for top executives
HEC boosts open-enrolment opportunities for
top executives
HEC has just launched two new Executive Education open-enrolment
programs for senior executives. Attracting over 75% international participants,
the programs provide a platform for professionals of 27 different nationalities to
share knowledge and experience.
From ideas to implementation
“Leading Strategies for Outstanding Performance” gives company owners,
senior executives and regional and country directors the tools they need to
define and achieve their strategic vision. Over the course of the five-day
program, participants learn how to identify competitive advantages, assess
growth options and develop an action plan to achieve their business goals.
“I really try to drive home the importance of implementation strategy,” says
Professor Roger Hallowell, Affiliate Professor at HEC Paris and former
Professor at Harvard Business School. For participant Tom Ray, Global
Commercial Director for Stolichnaya, the message came through loud and clear.
“The program lets you fine-tune your ability to think and plan strategically. More
importantly, it provides methodologies to implement your strategy. I would much
rather implement an average strategy brilliantly than a great strategy poorly.”
This new course is proving to be particularly relevant in the current economic
climate. “Economic downturns make it more difficult for businesses to grow and
remain profitable,” reasons Pierre Dussauge, Professor of Strategic
Management at HEC. “The program offers a structured way to discuss these
issues that can help companies move ahead, in spite of the challenging
environment.”
Financial management fluency
“Creating Value through Strategic Financial Management”, is geared
towards upper-level executives and managers without a background in finance.
General managers have a responsibility to understand how their companiesʼ
strategic decisions and operating activities affect value and, ultimately, financial
performance. This three-day course uses lectures, slides and case studies to
help participants draw links between corporate strategy and financial
performance.
Marika Puiseux, a Turner/Time Warner manager, explains what attracted her to
the program: “As a channel manager, I am marketing oriented, but I am often
faced with financial issues. The program provided a good balance between
practical content and finance theory and improved my understanding of my
companyʼs global finance strategy.”
“The purpose of the program is not to train finance specialists, but rather to
enhance financial awareness,” explains Academic Director Marc Bertonèche,
Affiliate Professor at HEC, Associate Fellow at Oxford's Saïd Business School
and Templeton College, Visiting Professor at Harvard Business School and
noted financial expert. “We want participants to come away with a better
understanding of the trade-offs and financial consequences of their actions. The
most successful managers in any company are often those who appreciate and
have mastered financial concepts.”
published by HEC / edited by WordAppeal
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The HEC MBA turns 40
HEC MBA graduates from the class of 1971 through today are gearing up for
the programʼs 40th anniversary celebration at Paris landmark, Maximʼs, on
September 19, 2009. Associate Dean Valérie Gauthier takes a moment to
reflect on the programʼs achievements and present her vision for the future.
An early innovator
“The HEC MBA was widely considered a pioneering program when it was
launched in 1969,” explains Professor Gauthier. “The past four decades have
only strengthened our reputation for innovation.” She cites the HEC MBAʼs
recent partnership with Apple as a prime example of the programʼs innovative
approach to learning. “HEC was the first business school to adopt the iTunes
University platform and is a leader in integrating podcasts and other
technologies into the educational environment,” she notes.
An international player
Another striking feature of the program is its international dimension. Today,
over 85% of program participants come from outside France. While the ability to
attract a diverse, multicultural student body is a crucial element of any good
MBA program, for Professor Gauthier, the work doesnʼt stop there. “HEC takes
the idea of a global education to the next level,” she explains. “We focus on
bringing together people from around the world and providing them with
opportunities to help companies grow internationally.”
“A recent HEC MBA graduate from India comes to mind. He was recruited by a
major French company and went on to help develop the companyʼs presence in
India.” For Professor Gauthier, examples like this explain why HEC consistently
scores well in the Financial Times ranking of international mobility. “International
openness has played an important role in our MBA programʼs history, and itʼs
something we will continue to develop in the future,” she states.
A character builder
Professor Gauthier emphasizes the HEC MBAʼs role in building character
through an intensive process of personal and professional development. “I
believe that the programʼs capacity to develop interpersonal skills is equally
important as its academic excellence,” she says. “To become leaders, our MBA
participants must develop a formal understanding of both rational and intuitive
decision making.”
To achieve this, the HEC MBA places a unique emphasis on ʻpositive
managementʼ. Participants are encouraged to explore issues such as
sustainability, corporate social responsibility and ethics. They receive hands-on
training in decision making and exposure to successful leaders through events
like Visions of Leadership Week. According to Xavier Romatet, HEC MBA
graduate and President of the Alumni Association, “This balance of theoretical
training and practical application prepares HEC MBA participants to tackle
todayʼs business challenges and develop a forward-thinking leadership vision.”
published by HEC / edited by WordAppeal
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In brief
Campus
Official Semester Start Date
Time & Location: September 13, HEC Campus, 1 rue de la Libération, 78350
Jouy-en-Josas
Start Date for Full-Time MBA September Intake
Time & Location: September 7, HEC Campus, 1 rue de la Libération, 78350
Jouy-en-Josas
Contact: Nathalie Genty, genty@hec.fr
Knowledge
HEC / Hong Kong University of Science and Technology (HKUST)
Workshop
The first HKUST / HEC workshop in Financial Accounting will be held at HEC on
June 25-26. This workshop is organized jointly by the departments of Accounting
and Management Control at HEC and HKUST. The research presented at the
workshop will cover diverse themes, including: the compensation policies for top
managers in bankrupt firms, the responsibility of auditors in case of fraud,
voluntary disclosure policies, and even internal control.
Time & Location: June 25-26, HEC Campus and Hôtel Atala, Paris
Contact: Claudine Vayrac, vayrac@hec.fr; Professor Thomas Jeanjean,
jeanjean@hec.fr
HEC Symposium: Learning from the Financial Crisis
Renowned academics from Princeton, LSE, Imperial College and HEC will join
Professor Andrei Shleifer, Harvard University; Colin Mayer, Dean of Oxfordʼs
Said Business School, and HEC Dean Bernard Ramanantsoa for this event,
hosted by the HEC UK Alumni Group. The symposium will bring together leading
executives and academics to discuss the impact of the current economic crisis.
Time & Location: June 26, Royal Automobile Club, Pall Mall Clubhouse, 89
Pall Mall, London SW1Y 5HS
Contact: Claudine Vayrac, vayrac@hec.fr
Stats in the Château: GIS Summer School in Econometrics and Statistics
ENSAE, HEC and the Ecole Polytechnique will hold a summer school in
econometrics and statistics, in conjunction with the Decision Sciences Network
and the EDF-Calyon Finance and Sustainable Development Chair.
Time & Location: August 31-September 4, CRC Château, HEC Campus, 1 rue
de la Libération, 78350 Jouy-en-Josas
Contact: Claudine Vayrac, vayrac@hec.fr
published by HEC / edited by WordAppeal
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Previous issues
HEC Newsletter 20, January 2009
HEC Newsletter 19, September 2008
HEC Newsletter 18, April 2008
HEC Newsletter 17, December 2007
HEC Newsletter 16, July 2007
HEC Newsletter 15, May 2007
HEC Newsletter 14, December 2006
HEC Newsletter 13, July 2006
HEC Newsletter 12, April 2006
HEC Newsletter 11, January 2006
HEC Newsletter 10, July 2005
HEC Newsletter 9, March 2005
HEC Newsletter 8, December 2004
HEC Newsletter 7, July 2004
HEC Newsletter 6, April 2004
HEC Newsletter 5, January 2003
HEC Newsletter 4, July 2003
HEC Newsletter 3, March 2003
HEC Newsletter 2, November 2002
HEC Newsletter 1, May 2002
published by HEC / edited by WordAppeal
