Over 140 participants - business school deans, faculty, business, NGO and foundation leaders - from nearly 30 countries came together for the 6^th annual Global Business School Network Conference to focus on generating leadership in emerging markets.  Hosted on IPADE Business School’s historic campus in the heart of Mexico City, participants debated a range of topics surrounding this year’s theme, including the challenges of scaling the impact of business education, developing responsible global leaders and the value of accreditation for schools in developing countries.

Before the conference, representatives of member schools met for the annual Members Meeting and discussed GBSN’s strategic priorities.  They emphasized institutional partnerships and capacity building projects as some of the most beneficial network activities, and GBSN will focus on these over the next year.

The conference opened with representatives from schools in Latin America, Asia and Africa discussing new trends and challenges in business education in their respective markets.  Accreditation pros and cons, faculty development challenges, benefits of executive education and the dearth of quality business schools in developing countries were relevant themes in the three regions. Jonathan Cook, Chair of the Association of African Business Schools, highlighted the fact that having followed the Western model of business education for many years, African business schools are finding their own voice in tune with their local markets.  All agreed on the need to make management education more relevant to local conditions so as better to meet   employers needs.

During the Gala Dinner, guests enjoyed Mexican haute cuisine created by six renowned chefs, and heard from leading author and CEO of Entrepreneurial Solutions, Eric Kacou.  Mr. Kacou discussed the need to increase opportunities for entrepreneurs at the base of the pyramid.  His inspirational speech highlighted African success stories and demonstrated how creative business leaders can make a remarkable difference.

A CEO Panel brought together industry leaders from a Mexican cement corporation, an international real estate conglomerate and a private equity firm focused on emerging markets. The panelists discussed the many challenges of talent recruitment and their need for managers with substantial international working experience. The panelists discussed the balance between internal human resource development and external recruitment.   A lively discussion ensued about the importance of strong moral and ethical values, and the respective responsibilities of companies, educational institutions and families in fostering them.

In addition to exceptional networking activities including a delicious wine, chocolate and mole tasting event, the conference featured a wide aware of breakout sessions on business education trends and best practices.

Highlights from the breakout sessions

• At the Curricular Innovation: Developing Future Leaders session participants discussed how best to teach students to manage “ambiguity” and offered experiential methods which incorporate sustainability into curricula.
• During the Business of Branding session participants learned about “the house framework” for building a competitive message and brand.   Sitting on a solid foundation, the “frame” of the house includes the target audiences the institution is trying to reach.  The “roof” is the message.
• Participants at the Mainstreaming Inclusive Business Models session discussed how businesses are integrating inclusive business into their practice, so as to be socially responsible.  The discussion also focused on measuring the impact of inclusive activities.
• Generating New Business Opportunities at the Base of the Pyramid was a workshop focused on the three main actors engage within this sector of the market: customers, the business community, and socially responsible organizations   Their cooperation is essential in order to deliver appropriate and competitive products.

At the closing lunch, keynote speaker Edmundo Miguel Vallejo Venegas, IPADE Business School faculty and former CEO of General Electric Latin America, spoke of the transformational changes that have occurred globally in the business community since the economic crisis.  He highlighted the overwhelming demand for quality business leaders and managers in developing countries—a demand that far exceeds the current supply—and the challenges this presents to business schools.  Drawing from company examples across the developing world, he drove home the enormity of the task of generating a rapidly growing number of quality leaders.

The conference ended with a networking trip to the Aztec pyramids, where participants experienced a bit of Mexico’s rich history.

Eric Kacou, CEO and Founder, Entrepreneurial Solutions Partners; Author Entrepreneurial Solutions for Prosperity in BoP Markets

Kacou outlined the struggles that the “majority world,” face in trying to survive daily, much less start and grow businesses, and termed it the “survival trap.” The “majority world” are those at the base of the pyramid who make up two-thirds of the world’s population. This survival trap, as he sees it, starts with extremely difficult “operating reality” in daily life. This leads to a certain negative mindset, which causes unwise actions. The results of these actions then lead to further difficulties in the operating reality.

5 evils of the survival trap:

1. Lack of Trust

2. A focus on Equity – life as a zero-sum game

3. Planning Horizon – thinking only short term

4. Blaming others

5. Seek to avoid risks

Any one of these traps is enough to stop progress. It creates the “private sector iceberg,” where much of the economy is below what is visible, the informal economy. However, there is still hope for the people in these economies.

First, rates of entrepreneurship are much higher in emerging economies than in the US and Europe. Secondly, there are ways to develop sustainably successful ventures that create value for all of their stakeholders. He highlighted the success of entrepreneurs in emerging markets and pointed to them as examples of the potential for change, success and growth. Those who are developing successful businesses with an eye on the social responsibility that they have are valuable role models for others in their communities.

According to Kacou, the fulcrum and the lever that can move the two-thirds of the world out of poverty are “business people who have moral purpose, who are ethical in what they do.” He does not discount profits, but considers them only a part of the equation: “It’s about dollars and sense.”

By changing mindset to include collaboration and moral purpose, the entire “Survival trap” model changes and the operating reality is altered.

He challenged participants to consider how different people see a situation in extremely different ways depending on their vantage point. He emphasized that in efforts to collaborate this understanding is important to keep in mind, especially when working with people who are dealing with a different “operating reality.”

Edmundo Vallejo Venegas, Former CEO, GE Latin America; Professor, IPADE Business School

Vallejo framed his address with the assertion that September 15, 2008, the bankruptcy of Lehman Brothers, had a fundamental impact on the labor market the same way September 11th had an impact on how we live our daily lives. “It changed the world forever. It was a structural change,” he said.

Three aspects of companies related to the labor market fundamentally changed: productivity, growth in emerging markets, and the nature of work.

Productivity for Microsoft, for example, changed from “doing more with less” to “doing it better with less, doing it the right way with less.” Additionally they instituted a 5% annual attrition rate. “Less people, demanding better results, innovative ways of doing things, and more competitive in each job position.”

In order to continue to grow despite the downturn, companies turned to emerging markets.  “Emerging markets will be growing 7% plus by 2014, the developed world will grow 2%.” he said. “In this decade for the first time in the last 200 years… the contribution to the global growth coming out of developing markets will be more important than that coming out of the advanced world.  But there is a huge problem:  there is not enough [skilled] people.  There is a huge talent scarcity in emerging markets.”

As an example, he cited a study that showed only 15% of graduates in Russia and 20% in India are employable by major corporations.  Companies in emerging markets have to import talent from around the world and are struggling to find people.

Companies are reinventing work, expanding the pool of talent.  They’re moving people around from other countries, adding part-time workers, looking into older workers, and accessing the talent of women who have left the workplace for personal reasons.  They’re also realizing that up to 30% of work done in corporations can be done virtually and they are embracing technology.

He then shared what his research showed business school students are looking for in work:

• Learning working environment
• Job that feeds lifestyle - “Work is something you do, not a place you go to”
• Sensitivity to planet challenges
• People-based culture

They are not just looking for money, career advancement and titles.

In conclusion, he said that there are three questions that business schools need to ask themselves:

1. How do programs and resources from September 14, 2008 compare to today?  “If they are the same, we are missing the boat.”
2. How are schools connecting corporations with the students who are coming out of the programs?

“Where would we like our business schools to be in 5 years, in 10 years?” He emphasized that the world is changing very quickly and is becoming more complex every day.

Moderator: Ron Sibert, Director, Business Development-Africa, Graduate Management Admission Council (GMAC) (USA)

Panelists: Jonathan Cook (Executive Director, Gordon Institute of Business Science, South Africa); Edilberto de Jesus (Dean, Asian Institute of Management, Philippines); Paulo Tarso Vilela de Resende (Associate Dean for Research and Development, FDC, Brazil)

Three representatives of business schools from Africa, Asia and Latin America, discussed the challenges and trends institutions are experiencing in their regions.  Themes throughout the discussion included institutional partnerships, accreditation, local relevance and research.

Business Education Trends in Africa

Jonathan Cook, Executive Director of the Gordon Institute of Business Science started the panel discussion highlighting the changes in business education in Africa.  “In recent years business schools have moved towards increased academic rigor and specialization,” Professor Cook stated, “but I sense more of a retreat from that, that we have become too specialist, too academic, and we are losing contact with our customers.”  He went on to explain that during these difficult economic times companies are expressing a need for more management skills and less on specialized skills and they are seeing many schools returning to a focus on general management principles.

Professor Cook highlighted that understanding the business environment in emerging markets is a critical component for business schools, and that African business institutions have an important role in sharing their knowledge with others.  There is a need for institutions to understand and learn more than just the market at the base of the pyramid, but also how world-class companies are being developed in emerging market contexts.

Business Education Trends in Asia

According to Dean Edilberto de Jesus of the Asian Institute of Management in the Philippines, the challenge and trends in the Asia and Pacific region are driven not by decline but by growth and expansion.  Asia is experiencing a huge expansion of education with an increase in both the demand and supply.  The challenge with this huge growth is: how do institutions distinguish themselves from the competition?  New entrants will need to show they provide value, and that they can bring in the kind of students that will be of value to the region.

“One school cannot be all things to all parties.  We have to choose our battlefronts,” stated de Jesus.  Decisions must be made on what institutional priorities should be.  Local relevance and context is key to being successful.  There are three trends occurring for schools to distinguish themselves among the competition:  accreditation, global partnerships and curricular innovations.  In regards to accreditation, only 30 business schools are currently accredited in Asia, but there are 190 schools in the pipeline waiting to be accredited.

Business Education Trends in Latin America

Paulo Tarso Vilela de Resende of Fundação Dom Cabral Brazil discussed how there is an increased need for schools to build trust with their clients.  To build this trust, institutions need to develop strong credible programs for companies, provide quality faculty instruction, and produce relevant curriculum and content for each specific client.  Schools must decide on whether to function more as a “business” or more like a “school.”  FDC in Brazil has found success by focusing on the former. By listening to the client, understanding their needs, and focusing on guaranteed revenues, they were able to become one of the best business schools in the world.

For companies that work globally, it is critical for institutions to understand their environment in which they are working. “When working in different countries, to be globalized as a business school is to understand and respect local peculiarities, to understand local contexts,” he explained. To gain local relevance and knowledge, institutions must have local partners.  However, these partnerships must be bi-lateral and not unilateral.  They should not be focused on making money, but should be based on mutual knowledge creation where there are shared risks and profits.

Business School Partnerships

Partnerships, especially south-south partnerships, were highlighted as an important and exciting element to building the capacity of institutions.   “Institutions, like AIM,” commented Dean de Jesus, “need to do more to help upgrade the level of institutions…we need to look at different kinds of partnerships for different reasons. We partner with the best schools in the West to learn the best research practices.  We partner with institutions in developing countries because we have a lot to share…there is a great deal to be said about south-south collaboration.”

Professor Cook commented that international competition is good for African institutions.  However, if an outside institution comes in with a big brand and attracts the best students and takes the financial returns back to their home country, this is not viewed as positive for local development.  The best method is for large international institutions to partner with local institutions.  This partnership provides a meaningful transfer of technology and skills, benefiting both brands.  GIBS has benefited hugely from these partnerships with schools from the West. However he also sees the opportunity for South-South collaboration, which has huge potential.

Accreditation

The panelists had a lively conversation on the importance of accreditation and the relevance for their institutions.  Most agreed that accreditation was a good exercise, giving faculty a measuring tool on how to become a school of high quality.  The accreditation process makes the institution think critically about their systems, policies and research.  This then creates an environment to redefine what quality means among faculty.

Alternatively, it was agreed that accreditation is expensive and time consuming.  “In Brazil 90% of customers have no clue what AACSB, EFMD, or AMBA even means,” stated Dean Resende.  “We should be careful not to spend a lot of money and have a stamp that only the institution, and not the market, understands.”

Local Relevance & Research

Access to locally relevant cases, materials and research in developing countries continues to be difficult and not prioritized by institutions.  In many cases there is a strong demand for research, but with relatively few rewards for faculty to carry it out.

“How do we solve the slavery?” demanded panelist Dean Resende of the audience,  “What do I mean by that?  If they [faculty] are thinking about creating knowledge, they are lazy.  [The impression is] they are only good when they are in the classroom.  We need to change that.  It is homework for us.”

Moderator: James Dean, Kenan‐Flagler Business School, University of North Carolina (USA).

Panelists: Richard Frank, President  & CEO, Darby Overseas Investments/Franklin Templeton (USA); Victor Lachica Bravo, President and CEO, Cushman & Wakefield Mexico; Antonio Taracena Sosa, General Director, Cementos Moctezuma (Mexico)

“Talent is universal but opportunity is not,” claimed Jim Dean, Dean of Kenan-Flagler Business School at the University of North Carolina, upon the opening of the CEO panel.  Part of the challenge for business schools and for companies around the world, especially in emerging markets, is to address the gap between talent and opportunity and aim to fill it. The CEO roundtable discussion centered on developing capacity in emerging markets with an eye to providing balance between opportunity and talent.

The CEOs agreed that talented employees are all the more crucial in emerging markets. Richard Frank, President and CEO of Darby Overseas Investments / Franklin Templeton, emphasized this point by saying, “If you have the choice of an A plan and a B team or a B plan and an A team, take the A team! Especially in emerging markets, plans will change anyway.” He added that one of the biggest challenges he has seen in emerging markets is acquiring top talent and providing continuity by retaining it.

Victor Lachica Bravo, President and CEO of Cushman & Wakefield Mexico, added that he has found motivating and recognizing top talent within his organization to be a challenge, though he has had success with mentoring programs. He views recruitment as crucial preparation for his company’s future growth.

Asked about the importance of teamwork in his organization, Antonio Taracena Sosa was adamant that it is critical for employees to cooperate rather than compete, a sentiment that was picked up by the other CEOs. Developing talent versus hiring employees who have been trained already was an issue that was addressed. Taracena stated that he would start out with bringing in outsiders and move to training to bring in the important local knowledge of culture and an inside perspective. Mr. Bravo commented that he would prefer 60% insiders and 40% outsiders to gain both the benefits of outside perspective and also remain loyal to homegrown knowledge and talent.

Guy Pfeffermann, founder and CEO of GBSN, began the question and answer session by asking the CEOs what they would like to change about business schools and their graduates. Teamwork, broad global experience, and familiarity with technology and the means of gathering information were three key ingredients mentioned as highly valued when selecting talent.

The panelists felt strongly that business organizations have the responsibility to develop professionals and leaders with strong ethical values.  They pointed out that business schools can also play an important role in developing the values; of their graduates however, this process is an ongoing task to be addressed over the course of a career.

Facilitator: Jonas Haertle, head of PRME Secretariat/ UN Global Compact Office

Panelists: Felipe González, head and Professor at the Social and Political Environment Department, President of the Center for the Study of Institutional Governance, CEGI, at IPADE

Click here to download Haertle's presentation

Click here to download Gonzalez's presentation

As they shape tomorrow’s innovators and leaders, business schools have a significant opportunity to integrate sustainability and long-term value creation into management curricula and research. The values of responsible management should be embedded into all functional courses of academic institutions and business schools.

The Principles for Responsible Management Education (PRME) is a United Nations-supported initiative to promote and inspire responsible management education and research in academic institutions around the globe. It is based on the UN Global Compact and seeks to establish a process of continuous improvement among institutions of management education in order to develop a new generation of business leaders capable of managing the complex challenges faced by business and society in the 21st century.  Following the presentations by Jonathan Cook, Gordon Institute of Business and Sciences, South Africa, and Felipe Gonzalez, IPADE, Mexico, workshop participants discussed good practices of embedding PRME in business schools.

Facilitators: Kristiana Raube, Adjunct Professor, Haas School of Business, University of California Berkeley (USA);  Juan Carlos Alegre, Director, Monitoring and Evaluation, Management Sciences for Health (USA)

Click here to download Raube's presentation

Click here to download Alegre's presentation

This session focused on the effects of management education for health professionals on service delivery outcomes.  Session participants examined two recently implemented management and leadership training interventions and their corresponding evaluations.

The first evaluation looked at the Mid-Level Management Training program in Nigeria, which targeted mid-level managers of primary health care organizations.  Some of the successful features of this training program included a co-facilitated approach to teaching with both context and content experts; a threaded approach to the subjects as opposed to a block format, which reinforces the interdependence of topics; and the application of experiential learning through assignments done within participants’ own organizations in between sessions.  The evaluation of the program focused primarily on the transfer of knowledge. The tools used were pre- and post- tests for the different topics as well as problem solving exercise completed at the beginning and end of the course.

The results showed that management knowledge increased in all topics and participants had more confidence and felt more empowered than before to make decisions.  This approach measured the immediate impact of the course on the participants while alerting facilitators of any trouble spots in the curriculum. However, this methodology did not address the question of whether or not the training led to improved delivery of services.

The second evaluation was a study following very strict methodology in order to find out if leadership education had any impact in best health practices in Kenya. There were both qualitative and quantitative indicators to measure, including the number of fully immunized children under one, the number of skilled birth attendants, and the number of pre-natal care visits.  The study looked at 67 groups of health care workers that received management and leadership training and compared them to Kenyan health care facilities with workers who did not participate in the training. While this latter information – provided by the Kenyan Ministry of Health – was not perfect, some conclusions could nonetheless be made, mainly that leadership training can improve health care assistance in general by 20% and that this improvement is sustainable in time.

Facilitators: Erica Salvaj, Professor at UDD Escuela de Economía y Negocios  (Chile); Peter Bamkale, director at EDC Pan-African University (Nigeria)

In this session, faculty members from schools all over the globe agreed that business schools have a certain responsibility to create consciousness about social entrepreneurship. Courses and activities should stress that social enterprises are profitable businesses that can and do make an enormous difference in consumers’ way of life, giving communities access to services that meet their most basic needs for food, water, and electricity, among others. Though the social impact is often the primary reason for creating a social enterprise, it is profits that make them sustainable in the long run. Because of the knowledge and expertise in business and entrepreneurship, business schools have a unique opportunity to mentor students in their social entrepreneurship activities; supporting them with knowledge from past projects and helping them achieve their project’s goals.

Moderator: David Capodilupo, Senior Director, MIT Sloan School of Management (USA)

Panelists: Cheng-Hua Tzeng, Professor, Fudan University School of Management (China); Alan Kantrow, visiting Professor, Moscow School of Management SKOLKOVO (Russia), Michellana Jester, Manager, Action Learning Programs, MIT Sloan School of Management (USA)

One of the biggest challenges business schools face is providing students with real-world experience. Once students have learned the theory, they need to apply their skills before they truly understand how to do business. This panel highlighted the unique collaborations that MIT Sloan has done with schools around the globe, including Skolkovo in Russia and Fudan in China.  Panelists presented their unique partnerships and experience they’ve had in promoting action learning within their curricula.

Panelists felt strongly that action learning is the future of education. With the support of faculty from business schools, cross-border and cross-cultural work among institutions and corporations can add value to all stakeholder groups.

Facilitators: Andrew Spicer, Associate Professor, Darla Moore School of Business at the University of South Carolina; Elmar Friedrich, Coordinator Manager, University of St. Gallen (Switzerland)

Click here to download the presentation

Climate change is an increasingly important topic for business school students. Session participants shared and discussed what different business schools around the world are doing to face climate change, including environmental sustainability and renewable energy issues. The University of St. Gallen’s climate change simulation course and Darla Moore School of Business’ Page Prize were highlighted as examples of how business schools can get involved.

The University of St. Gallen’s simulation course is an interactive, role-play-style course that students have called very rewarding. Faculty members designed the course in the hopes that it would educate students about the energy industry and its business opportunities.

Moore School of Business’ Page Prize initiative is a competition for management schools tackling environmental issues with an eye to profitability and sustainability.

Facilitator: Gabriel Hidalgo, Faculty, IPADE Business School (Mexico)

Too often today, companies separate their business goals from the social goals of their charitable contributions. It is time to develop a more comprehensive strategic vision for corporate philanthropy. Cause marketing addresses important social and economic goals simultaneously by targeting areas where a brand and society both benefit from the company’s unique assets and expertise. Cause marketing generates economic value for the business by creating sustainable competitive advantages through the level of engagement of the partnership that the business will form with a single philanthropic organization. The session concluded with some insights in how marketing departments and business schools in general can contribute to the success of social enterprises.

Facilitators: Leif Sjöblom, Professor, IMD, (Switzerland); Edward Mungai, Dean, Strathmore Business School (Kenya)

Recently, companies have begun demanding more efficient programs that teach more practical information in a shorter time frame.  This session focused on the challenges that business schools face when designing and delivering executive education. Executive MBA programs, taken together, are some of the most popular higher education programs in the world. Custom programs are becoming very popular for this reason. One of the main challenges business schools face with their executive education programs is retaining and incentivizing faculty members while avoiding competition between them. The participants of this session spent time discussing the characteristics of an ideal professor for an executive program, particularly the importance of previous consulting experience. Participants suggested that advisory boards from the industry play an important role in designing programs to help meet their identified needs.

Facilitator: Michael Finney, Associate Professor, Thunderbird School of Global Management (USA)

In order to create a successful international deployment program, business schools need to make sure that student projects reflect the mission and values of the institution. The purpose of this roundtable was to discuss best practices when creating and managing international student projects and internship programs. Columbia, George Washington University, Kenan-Flagler, and Berkeley, among others, shared their experience in the field. Participants agreed that the best way to ensure a program’s long-term success is to provide value to both the student teams and the client organization. This will help to build a brand around the program so future students and clients understand the value and are excited to participate. Client engagement, team skills and institutional support from the business school are all crucial.

Facilitator: Victor Tabbush, Professor, The Anderson School at UCLA (USA)

Click here to download the presentation

Teaching methodologies employed in business school classrooms have seen a rise in participatory teaching methods over the years alongside more traditional lecturing approaches. A variety of pedagogical tools are available to professors including lectures, case studies, online discussions, simulations, and real life consulting projects.  These tools allow students to apply the theory of management to the practice of management, an important step in preparing students for their post-business school careers.

Despite the number of teaching tools available, participants noted the challenges of using some of these methods in certain contexts.  Faculty must be aware of context in which they are teaching, including the differences in which people interact and learn, so as to apply the most relevant approach in any given class. Some aspects, however, were agreed to be applicable in all cases.  This includes ensuring students have the opportunity to discuss and defend their differing points of view and providing ongoing mentoring and support to graduates as they begin to apply the knowledge they gained in business school to new careers and opportunities.

Facilitator: Lisa Jones Christensen, Associate Professor, Kenan‐Flagler Business School, University of North Carolina (USA)

This session’s discussion was about the different approaches business schools took to teaching leadership, beginning with the explanation of the Kenan-Flager’s Leadership Program Mission. One of the most unique and challenging elements of the program is encouraging student reflection and introspection.  Prof Jones Christensen shared some of her experiences on this field, highlighting the “extreme outdoor experience” they do with MBA first years and the sustainability program, which consists of a 12-day trip to Kenya in order to do business-oriented community service.

Then she pointed out how important it was for the students enrolled in this program to develop the ability to manage ambiguity. Luis Felipe Marti, representing IPADE, talked about the methods his school has to teach students ambiguity management; one of them being learning how to divide responsibilities in concentric circles of action. The discussion was concluded by pointing out that not only the leader is important; most of the times the first follower is just as necessary.

Facilitators: Kent Holland, Partner, Plesser Holland Associates (USA); Andrew Crisp, Partner, CarringtonCrisp (United Kingdom)

The recent explosion in demand for higher education has lead to the formation of a great many new business schools worldwide. Now the challenge for business schools is to set themselves apart from the competition. The panelists used a house analogy to explain how business schools can create a cohesive marketing strategy that will accomplish their goals. The first step is Identifying the target audience, the people whom they want to attract to their institutions. The target becomes the pillars of the house.

The next step is constructing the roof of the house with the message they want to spread. Institutions should consider the people they want to reach with this message as well as the type of benefits they should be communicating. It can be easy to get sidetracked with all the media options that are available, but business schools only need to integrate those media that will be useful to reach their audience.  It is important to consider that electronic media such as Twitter, YouTube and Facebook are having a lot of impact among young people today; these systems can be effective ways for the schools to reach their target.

The session closed by looking at a few examples of business schools using the power of branding to differentiate themselves and how those in the room might think about this tool for their own institutions.

Facilitators: Robert Kennedy, Executive Director, The William Davidson Institute, Stephen M. Ross School of Business, University of Michigan (USA); Hakan Bohman, Professor, Umea School of Business (Sweden); Hakan Boter, Professor, Umea School of Business (Sweden)

Many business schools worldwide are engaged in research projects that look at economic challenges in developing countries. GBSN is an excellent platform for mobilizing individual research and research groups, exchanging experiences, and developing joint research projects within common fields of interest. GBSN is uniquely suited to connect institutions in emerging and developing markets.

In this breakout session participants expressed discussed ways in which GBSN could advance research activities, and mentioned the following:

• GBSN can assist developing country business schools in identifying academic institutions which offer appropriate doctoral programs; for example, Tulane University's Freeman School of Business welcomed many faculty from EGADE (Mexico). Likewise, the Swedish aid agency, SIDA, funded doctoral program cooperation for faculty of Tanzania's University of Dar es Salaam with Umeå Business School

• Participants said that it would be very useful if GBSN acted as "match-making facilitator" between institutions and individual faculty in advanced economies and those in developing countries, with a view to fostering research collaboration. For example, the Director of Karachi's Institute of Business Administration volunteered to assist faculty members of leading business schools in identifying Pakistani researchers interested in research collaboration on topics such as microfinance, family businesses, Islamic finance, etc.

• Similar arrangements can be facilitated by GBSN in case writing, where local information and data are provided by local junior faculty, in collaboration with highly-experienced professors from top universities.

• GBSN might also commission research on specific topics, for instance the social and economic impact of management education.

It was decided that GBSN would organize a research working group composed of faculty from a variety of member schools, who will follow-up the break-out session's recommendations.

Moderator: William Mitchell, Professor, Fuqua School of Business, Duke University (USA)

Panelists: Claudio Boechat, Professor, Fundação Dom Cabral (Brazil); Francesco Piazzesi, Founder, Échale a Tu Casa (Mexico)

Business models that aim to reach the underserved segments of society benefit more than the newly included—they can be a business’s ticket to profitability in addition to benefiting society as a whole. This panel began by discussing how business schools and businesses view this significant aspect of doing business. People engaged in socially inclusive work underscore the importance of creating working business models that create economic and social value simultaneously. Claudio Boechat spoke about how to measure inclusiveness and its importance, while Francesco presented its social enterprise business model and how he has achieved inclusivity.

Facilitator: Martha Rivera, Faculty, IPADE Business School (Mexico)

Poverty is a social issue that needs to be addressed with sound business models in addition to charitable intentions.  The base of the pyramid has enormous potential from both business and social responsibility perspectives. Success in this sector hinges on understanding how these consumers think, feel and act when it comes to the purchasing decision for a product.  Special attention must be paid to business models that result in a viable product or service offering for this market. There are three main actors that closely interact within this sector: businesses, non-profit organizations, and the customers. All three must work together to offer the appropriate product for consumers at the base of the pyramid. Social needs should  be addressed not only with a socially responsible attitude but also with a feasible business strategy.

Facilitators: Ishrat Husain, Dean, Institute of Business Administration (Pakistan); Jaime Alonso Gomez, Professor of Strategy, Instituto Tecnológico y de Estudios Superiores de Monterrey (Mexico)

In the competitive market of business school faculty, it is important for today’s business schools to define their strategic position in the market, cultivate the talent necessary to deliver, and develop a retention plan to maintain quality.

In a globalized world it is important for organizations to define their strategy and demonstrate qualities that differentiate their product or service offering. Business schools are no exception. The key to generating value is by focusing on qualities that are most important to clients. Business schools must know their markets and develop programs in line with customer demand.

Once business schools have defined their position, they can determine their faculty needs and develop a plan for recruiting and developing the talent needed to deliver their programs.  Faculty recruitment and development can take place through exchange partnerships with other business schools, virtual teaching using new technologies, the support of young faculty in PhD programs and leveraging faculty development programs around the world.

In addition to developing faculty, business schools must have a strong plan in place for retention of top talent.  Business school faculty look for intellectual freedom, new research opportunities, and ongoing opportunities to develop their own knowledge. These are key factors in retaining the best faculty to ensure quality and consistency in programs and research.

The awards for the first annual MBA Challenge Video Contest, which asked “Can an MBA Change the World?” were presented at the conference’s Gala Dinner.  As first place prize the winning team’s representative was flown to the conference to present their video to conference participants.

GBSN launched the MBA Challenge in 2011, a new video contest for MBA students and recent grads from around the world. Students were invited to demonstrate how they are making this world a better place through student projects, start-up enterprises, and new careers. Students submitted videos illustrating how their work is making an impact in the developing world and how their MBA experience helped make it a reality. Through the MBA Challenge, GBSN aims to call attention to the enormous potential that business schools hold to improve quality of life in developing countries by fostering a new generation of problem-solvers.

The winning entry came from a group of eight students at Haas School of Business at the University of California, Berkeley (USA).  Their video describes the year they spent in Zambia working with Community Markets for Conservation (COMACO) and the Wildlife Conservation Society to produce an independent organizational audit, a three-year strategic plan, and a geographic expansion strategy.  COMACO provides a market-based solution to wildlife conservation by combating food insecurity through the creation of markets for rural farmers who might otherwise practice destructive land use or poach wildlife.

Coming in second place was a team from IMD (Switzerland), who showcased the work of three students in Mongolia, South Africa and Kenya.  Tied for third place are a group of entrepreneur alumni of Universidad del Desarrollo (Chile) and a team of students from Thunderbird School of Global Management (USA).  Videos from second and third place winners will also be featured at the GSBN conference.

GBSN received submissions from nine teams from top business schools around the world, featuring work in Brazil, Chile, Guatemala, India, Kenya, Mongolia, Panama, Peru, South Africa, Tanzania, and Zambia.

Videos were judged by a panel of GBSN Member business schools, GBSN corporate supporters, and experts in the field of business education and private sector development.  They were evaluated on their level of innovation, impact, the relevancy to the business school experience, and the creativity of the video. More information, including the winning videos, can be found online by visiting the following site: www.gbsnonline.org/mbachallenge

A native of Cote d’Ivoire, Eric Kacou is co-founder and CEO of Entrepreneurial Solutions Partners (ESP), a firm providing entrepreneurs and leaders with the right mix of insight and capital needed to generate prosperity. He is also the author of Entrepreneurial Solutions for Prosperity in BoP Markets, which has already received coverage from international media such as FT, CNBC, and SABC.

Prior to starting this venture, he served as Managing Director of OTF Group, a competitiveness consultancy focused on emerging markets. An expert in business strategy and economic reconstruction, he led the Rwanda National Innovation and Competitiveness (RNIC) Program. Eric also served CEOs and leaders of over a dozen developing countries and international development partners.

Eric started his career as a strategy consultant with Monitor Company advising Fortune 500 executives. A Mason Fellow at the Harvard Kennedy School, Eric earned his MBA at the Wharton School, and serves on the Wharton Executive Board for Europe, Africa and the Middle East. The World Economic Forum honored Eric Kacou as a Young Global Leader.

Alfonso Bolio was born in Mexico. Studied his Bachelor in Business Administration by the “Universidad Nacional Autónoma de Mexico” (UNAM) and his EMBA by IPADE Business School in Mexico City. He managed several corporations’ Human Resources department before joining IPADE in 1978. Today Alfonso is Dean of IPADE Business School, Professor at the Organizational Behavior Department and Professor at the Business and the Family Department. As well as Advisor to a number of family businesses and also a member of the Board of Directors of important enterprises in Mexico such as: Grupo ODEM, S.A. de C.V; Grupo ESE, S.A. de C.V; Laboratorios Silanes, S.A. de C.V; CCPM; Empacadora Campo Frío, S.A. de C.V; Grupo Procomex, S.C; Química Rosmar, S.A. de C.V. He has a vast experience, research and expertise in Family businesses, Conflict management and Organizational behavior.

Guy Pfeffermann was born in Montauban, France. He received his Licence en Droit et Sciences Economiques in Paris in 1962 and was awarded first prize, Concours General, a French national inter-university essay competition. Mr. Pfeffermann was a Besse scholar at St.Antony's College, Oxford from 1962-65 and received a B.Litt. (Oxon.) in 1967.

Mr. Pfeffermann joined the World Bank’s Young Professionals Program in December 1966. He served as Chief Economist for the Latin America and Caribbean Region from 1979-87 and Chief of Debt and Macroeconomic Adjustment division from 1987-88. He was the Director of the Economics Department and Chief Economist for the International Finance Corporation from 1988-2003. Since 2003, he has served as the Director of the Global Business School Network of International Finance Corporation. He retired from the World Bank in 2006. From 2000-2003 he was also an Adjunct Professor at Johns Hopkins University, School of Advanced International Studies. From 2003-2007, he was a member of the Board of Directors of the Global Giving Foundation. He is currently on the Advisory Board of the Association of African Business Schools (AABS).

Edmundo Miguel Vallejo Venegas is a professor in the General Management and Entrepreneurship Department of IPADE. Venegas came to academics after a long and illustrious career in management, serving most recently as President and CEO of GE Latin-America from 2004 to 2006, before heading up GE Latin-America Consumer Finance from 2006 to 2009. Venegas holds an MBA from Harvard Business School as well as an MS in Science from the University of Notre Dame. Besides lecturing at IPADE, Venegas sits on the board of several NGOs, including WorldFund, Junior Achievement Latin-America, and New Ventures Mexico.

Mr. Richard H. Frank is Darby's President and Chief Executive Officer, responsible for management of firm-wide activities and Chairman on the firm's Private Equity, Mezzanine Finance and Venture Capital Investment Committees. Mr. Frank joined Darby in July 1997 after a long and distinguished career at the World Bank and International Finance Corporation (IFC) in Washington, DC. In his last assignment he chaired the Private Sector Group, coordinating the private sector activities of the World Bank, IFC, and the Multilateral Investment Guarantee Agency (MIGA). In his position in the World Bank Group as Managing Director, Mr. Frank oversaw the South Asia and Latin America operations and chaired the Bank’s Finance Committee. At the IFC, Mr. Frank served as CFO leading the Corporation to become an AAA borrower and securing two capital increases. Earlier in his Bank Group career, he was active in project and investment work throughout Latin America, Asia, Middle East and Eastern Europe. Mr. Frank is a Director of Franklin Templeton International Funds and member of the Board of Franklin Templeton Alternative Strategies, Inc. as well as on the Boards of several Latin American companies including Petro Santander (U.S. / L.A.). Mr. Frank serves on the Board of Georgetown University; the International Strategic Board of Banco Finantia, S.A. (Portugal); Inter-American Dialogue; Institute of International Finance; Bretton Woods Committee, IBM Venture Capital Advisory Council and Friends of Notes for Peace Foundation. He earned a Bronze Star for his service as Captain in Vietnam. Mr. Frank holds a B.S. in Mechanical Engineering from the S. D. School of Mines and Technology and an M.S. from the Sloan School of Management at the Massachusetts Institute of Technology.