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INSEAD News and Past Events 

Business Journalists Seminar Europe 2009 

INSEAD Alumni Career Services goes on tour 

CEO dinner series with Professor Anil Gaba 

INSEAD-Wharton Alliance - Career workshop 

7th INSEAD Private Equity Conference 

Read the latest MBA newsletter 

Upcoming Events 

INSEAD Global Events Calendar 

National Alumni Association Events Calendar 

CNBC launch The Good Entrepreneur 

competition 

INSEAD Healthcare Alumni Summit 2009 

National Alumni Associations 

Alumni Volunteer Meeting - April, 

Fontainebleau 

Retiring and new NAA Presidents 

NAA Belgium - 5th Salamander Road 

Challenge 

NAA Canada - Blue Ocean Strategy 

Conference 

NAA China - Dance with Chance book launch 

event 

NAA France - 10th INSEAD Trophees Award 

Ceremony 

NAA USA - First INSEAD US Alumni 

Sustainability Roundtable 

NAA USA - Breakfast Roundtable discussion 

with Professor Ethan Kapstein 

About Alumni 

Franz Humer MBA71, Chairman of the Board, 

INSEAD 

Andrew Alli MBA95D - President & CEO, Africa 

Finance Corporation 

International Executive Programme March88 

June 2009 

INSEAD's 50th Anniversary Celebrations 

We are proud to announce that we have 

identified our '50 INSEAD alumni who have 

changed the World'. We will start revealing the 

names from September 2009 until May 2010 

and you will be able to learn more on our 50th 

Anniversary microsite which will be launched in 

July. You will also be able to view our 50th 

Anniversary logo and find out more about 

upcoming celebrations. More information 

coming soon! 

INSEAD Leadership Summit Europe 2009 

On 3 April more than 

250 global leaders 

from business, 

government and 

academia gathered on 

INSEAD's Europe 

campus for its flagship 

event, the INSEAD 

Leadership Summit 

Europe 2009, 

which this year focused on the theme 

'Redesigning the Rule Book'. 

As leaders face new challenges brought about 

by the current economic crisis and the ever - 

changing global marketplace, they find 

themselves armed only with the old rules of 

business which no longer apply. The INSEAD 

Leadership Summit Europe 2009 gave them the 

opportunity to discover new thought-leadership 

to face these difficult times and learn from each 

other how organisations can operate better in 

evolving economic environments. Read on. 

Alumni Reunion Weekends 2009 

On 23-24 May, nearly 900 alumni and partners 

from MBA classes '99J&D and '04J&D came 

back to campus in Fontainebleau, travelling 

from 53 different countries around the world, to 

celebrate their 10 and 5 year alumni reunions. 

For the first time, the 

entire Plenary session 

was also video 

streamed into 

INSEAD's virtual 

campus in Second 

Life for those alumni 

who couldn't join in person. Read on. 

Upcoming Alumni Reunions 

MBA classes '64, '69, '74, '79, '84J&D, '89J&D 

and '94J&D are invited back to campus in 

Fontainebleau for their 45, 40, 35, 30, 25, 20 

and 15 year alumni reunions on 10-11 October. 

Visit your reunion website for more details. 

Can we find you?

meet for their 21st Alumni Reunion 

INSEAD Swiss Healthcare Industry Club - Are 

we ready to face the next healthcare crisis? 

Faculty 

Humanitarian Logistics - Research Group 

Leader, Rolando Tomasini & Professor Luk 

Van Wassenhove 

Global Latinas - INSEAD Lecturer, Lourdes 

Casanova 

Collaboration - Professor Morten Hansen 

Living outside the box - alumni stories 

wanted by Professor Will Maddux 

Lifelong Learning 

Executive Education - developing business 

leaders for the world 

INSEAD Knowledge - now in Chinese 

INSEAD alumni - powering the world 

economy through family business 

Print this Newsletter (pdf) 

Make sure your details are up-to-date in 

INSEAD Connect, so that we can contact you 

with more information about your upcoming 

reunions. If you require your login details, 

please contact: logins.alumni@insead.edu. 

INSEAD's Growth in China 

Ten years ago, 

INSEAD had very few 

alumni in China. 

Since then, we have 

steadily increased our 

alumni population 

and presence in this 

part of the world. In 

2006, we had 233 China-based alumni, in 

2007, 308; in 2008, 355; and today we have 

428. We aspire to reach 1,000 alumni located 

in China and contributing to business there 

within the next ten years. 

To help us reach this target, a Steering 

Committee consisting of alumni, faculty and 

staff, has been recently formed to coordinate 

INSEAD's activities in China. Find out more.

INSEAD Leadership Summit Europe 2009 

On 3 April more than 250 global leaders from business, government and 

academia gathered on INSEAD's Europe campus for our flagship event, the 

INSEAD Leadership Summit Europe 2009, which this year focused on the theme 

'Redesigning the Rule Book'. 

As leaders face new challenges brought about by the current economic crisis 

and the ever-changing global marketplace, they find themselves armed only 

with the old rules of business which no longer apply. The INSEAD Leadership 

Summit Europe 2009 gave them the opportunity to discover new thoughtleadership 

to face these difficult times and learn from each other how 

organisations can operate better in evolving economic environments. 

Hosted by Dean Frank Brown , more than 20 expert presenters, including 

INSEAD faculty members, explored the tools and innovations leaders will 

need to emerge from the financial crisis and achieve 

sustainable growth. 

The main plenary session focused on several critical 

issues, including the effect of the new political 

landscape on organisations, the role that emerging 

economies will play in the global business marketplace, 

and the implications of the financial crisis. Horst 

Teltschik, International Consultant and former 

National Security Advisor to Chancellor Helmut Kohl, 

explored the impact of Russia and China on other 

countries, and how the US may need to increasingly 

rely on Europe as a partner. Watch the video. 

In the following session, Ilian Mihov, Professor of Economics at INSEAD, 

presented a macroeconomic view of the financial crisis. By looking at today's 

economic scenario in a historical context, Mihov was able to draw important 

parallels to the length and depth of the current crisis. Watch the video. 

A debate was then held about the term 'shareholder value' to explore whether it 

still has relevance in today's business environment. Panellists, including Urs 

Peyer, INSEAD Associate Professor of Finance and Sir Andrew Large MBA'70, 

former Deputy Governor of the Bank of England, discussed the importance of 

leadership and understanding of how public policy is made in order to regain 

trust in the financial system and bridge the gap between shareholder and 

stakeholder value. Watch the video. 

After a networking lunch, Anil Gaba, INSEAD Professor of 

Decision Sciences, Spyros Makradakis, INSEAD Emeritus 

Professor of Decision Sciences and Robin Hogarth MBA'68, 

Research Professor at Universitat Pompeu Fabra, Spain, 

presented 'Giving up the illusions of control'. Based on their 

new book, 'Dance with Chance, making luck work for you', 

they presented their research about how people in general, 

underestimate the role of chance and hence, fall prey to the 

'illusion of control'. Watch the video . 

Business leadership in a time of responsibility was also a key 

discussion point. Along with a group of senior executives, 

Subramanian Rangan , Professor of Strategy and 

Management at INSEAD and Nik Gowing of BBC World News 

focused on the essence of effective and inspiring leadership 

during a time of crisis. Moderated by Gowing, the panellists 

discussed how businesses can manage tensions of being selfcentric 

versus society-centric, local versus global and longterm 

versus short-term. The panel was in 

June 2009 

L to R: Dean Frank Brown; Horst Teltschik, International 

Consultant and former National Security 

Advisor to Chancellor Helmut Kohl 

Ilian Mihov, INSEAD Professor 

of Economics 

L to R: Urs Peyer, INSEAD Associate Professor of 

Finance; Sir Andrew Large MBA'70, former Deputy 

Governor, Bank of England; Daniel Labrecque 

MBA'81, President & CEO, N M Rothschild & Sons 

Canada & President of the INSEAD Alumni 

Association (IAA); Christopher Fawcett MBA'80, 

CEO, Fauchier Partners

agreement that businesses need to take responsibility for their community and environment as boundaries 

between business and society have changed. Watch the video. 

In the closing dialogue moderated by Dean Frank Brown, discussions focused on people and diversity; 

what the crisis means from a stand-point of people and what will happen going forwards. Speakers were 

Sandy Ogg, Chief Human Resources Officer, Unilever and Herminia Ibarra, INSEAD Professor of 

Leadership. Watch the video . 

In the evening, attendees enjoyed a gala dinner held at the Château de Fontainebleau. 

For more information and a comprehensive list of speakers and session descriptions, visit the website. 

More information can also be found on INSEAD Knowledge. 

Save the Date! 

The INSEAD Leadership Summit Asia 2009 will be held on our Asia campus in Singapore on 6 

November 2009 on the theme of 'Inventing the future of business: Global shifts in the aftermath of the 

financial crisis'. And for the first time, we will be holding the INSEAD Leadership Summit Middle East in 

Abu Dhabi on 17 January 2010. More information will be available shortly.

Alumni Reunions Weekends 2009 - Fontainebleau 

10 and 5 Year Alumni Reunions: 23-24 May 

On 23-24 May, nearly 900 alumni and partners from 

MBA classes '99J&D and '04J&D came back to campus 

in Fontainebleau, travelling from 53 different countries 

around the world, to celebrate their 10 and 5 year 

alumni reunions. 

Many alumni came a long way to reconnect with their 

classmates - the furthest came all the way from New 

Zealand! And the weekend proved to be well worth it 

as alumni enjoyed the on -campus programme, which 

featured lectures with some of INSEAD's top faculty 

members, the Plenary session with Dean Frank 

Brown and the Dean of the MBA Programme, Professor 

Jake Cohen, class meetings, cocktails, lunches, 

football and rugby matches, as well as the traditional 

Sunday brunch. 

For the first time, the entire Plenary session was also 

video streamed into INSEAD's virtual campus in 

Second Life for those alumni who couldn't join in 

person. Several alumni joined virtually from different 

parts of the world. 

Faculty lectures featured: 

� Professor Karel Cool - Beating unbeatable 

competitors 

� Professor Filipe Santos - Social 

Entrepreneurship: what it is, why it matters and 

how it will change the world 

� Professor Soumitra Dutta and Sandra 

Schwarzer, Director, Career Services, MBA, 

EMBA & Alumni - Career transition and social 

networking: how the game is changing 

� Professor Miklos Sarvary - The emergence of 

metaverses (such as Second Life) as a new 

medium and their significance for business 

On top of the academic content, class meeting were also held on Saturday afternoon, where returning 

alumni enjoyed watching videos of their cabarets from their year at INSEAD, presentations from 

classmates and, for the MBA'04J, a reunion video with contributions from both alumni and faculty. 

And the highlight of the weekend was of course the traditional 

INSEAD Summer Ball. For the third consecutive year, the Summer 

Ball was held at the Château de Fontainebleau, where nearly 

1,600 alumni, students and guests enjoyed the magnificent 

surroundings, DJs and live music until the early hours of the 

morning. 

To view and purchase photos from the Summer Ball, click here. 

Thank you! 

Click on photos below to enlarge 

MBA'99J group photo 

MBA'99D group photo 

MBA'04J group photo 

MBA'04D group photo 

INSEAD Summer Ball at the 

Château de Fontainebleau 

June 2009 

Our thanks go out to reunion chairs and committee members for their hard work in making the weekend a 

huge success. 

Class of MBA'99J 

Reunion Chair: Andrea Poptsis, Alasdair Thomson

Reunion Fund Chair: Mirjam Staub-Bisang 

Reunion Delegates: Hernando Baquero, Simon Baines, Sheila Coutts, René Griemens, Jean-Philippe 

Grosmaitre, Jean -Marc Liduena, Kate Lucas Minyard, Michael Mapa, Stefano 

Rossini, Benjamin Schmittzehe, Elaine Soanes, Brigitte 

Veithen-de Vet. 

Reunion Fund 

Delegates: 

It's not too late to support your Reunion Class Gift! 

The May reunion class gift campaigns will officially close on 31 August - so it's not too late to make a 

donation if you haven't already done so. To make a donation, click here. 

Where we are today - MBA'04J achieved a new five year after participation record - 64% of the class 

donated to their reunion class gift. MBA'04D has now reached the half way mark for its goal of 50% 

participation. We hope they reach their target by the end of August! MBA'99J&D ran a joint class gift for 

the first time, which is now only €24K away from their target of €150K. Well done! 

Upcoming Alumni Reunions 

MBA classes '64, '69, '74, '79, '84J&D, '89J&D and '94J&D are invited back to campus in Fontainebleau for 

their 45, 40, 35, 30, 25, 20 and 15 year alumni reunions on 10-11 October. Visit your reunion website for 

more details. If you haven't already received information from us by email or postal mail, please let us 

know: alumni.reunions@insead.edu . 

Important! 

Marco Bolandrina, Andrew Cleland, Felix Colsman, Shailesh Doshi, Stephen 

Gardiner, Itay Gissin, Jean-Philippe Grosmaitre, Andrew, Hanff, Nicolas Hanson, 

Nicole Imberger, Andrew Land, Benedikt Maurenbrecher, Caroline Miller, 

Diarmid Ogilvy, Melissa Roethe Carnathan, Jamie Rutledge, Florian 

Teufelberger, Hsin Yue Yong 

Class of MBA ’99D 

Reunion Chair: Fabio Mondini 

Reunion Fund Chair: Sebastian Reschke 

Reunion Delegates: Houdijn Beekhuis, Marcos Calliari, Andras Fehervary, Raul Garcia Monclus, 

Mikhail Gerchuk, Carlo Germano, Rina Hoque, Brian Ireland, Michael Kosic, 

Gretchen Maddox, James Marshall, Nicolas Medioni, Gerhard Miller, Hugh 

Reunion Fund 

Delegates: 

Sheehy, Jon Slorer, Johann Tse, Kostas Vilos, Mike Zingg 

Fredrik Ahlberg, Laurence Amand-Jules, Maribelle Beckmann, Hank Boot, Nick 

Cooper, Roxane Divol, Steven Fox, Olivier Gorter, Duncan Grierson, Mark 

Hanson, Jörg Hattenbach, Heinz Holsten, Jonathan Klinger, Marina Koupeeva, 

Guy Macpherson-Grant, Aram Mangasarian, Gerhard Miller, Shinobu Murakami, 

Adam Norwitt, Sebastian Reschke, Matt Rogers, Martin Roll, Toby Siddall 

Class of MBA ’04J 

Reunion Chair: Giuseppe D’Antonio 

Reunion Fund Chair: Ogden Hammond 

Reunion Delegates: Ori Aruj, Nathalie Criou, Hugo De Stoop, Chase Emson, Alexis Hernot, Sergio 

Fajerman, Ogden Hammond, Yoko Kloeden, Thilo Knaupp, Jean-Christophe 

Lebraud, Raphael Leiteritz, Anja Madsen, Samir Maha, Jordi Moncada, Anik 

Nagpal, Amelia Ng, Anne-Helene Nicolas, Friedrich Rojahn, Antonio Stochino, 

Phoebe Yeh 

Reunion Fund 

Delegates: 

Jose Benavides, François Bourienne, Nathalie Criou, Giuseppe D'Antonio, Lutz 

Finger, Anthony Houlahan, Antoine Kin, KC Kirimoto, Alim Ladha, Raphael 

Leiteritz, Anja Madsen, Samir Maha, Amelia Ng, Anne-Helene Nicolas, Friedrich 

Rojahn, Martin Spit, Antonio Stochino, Sacha Talmon, Ying Xiong, Alieksiei 

Martins, Phoebe Yeh 

Class of MBA ’04D 

Reunion Chair: Debbie Chien 

Reunion Fund Chair: Christian Lelong 

Reunion Delegates: Alessandro Agostini, Sonia Ansieaux, Ramona Barden, Henry Brown, Thomas 

Chng, Michael Collins, Anne-Charlotte Desruelle, Chirag Doshi, Inna Farian, 

Philip Hallenborg, Fadi Hraibi, Manar Hussain, Vidya Iyer , Rashay Jethalal, 

Masami Kato, Paul Manwell, Karen McCormick, Nick Mole, Nima Obbohat, Jean- 

Christophe Pitie, Sabine Post-de Jong , Richard Pulliam, Claudio Ribeiro, Sai 

Tampi, Charles Tellier, Michael Wingenroth 

Reunion Fund 

Delegates: 

Luis Angel, Sonia Ansieaux, Borhene Ben Mena, Ian Bennink, Jesse Boone, 

Vasco Borges, Cyril Bouchet, Alexis Burckhardt, Manish Dahiya, Serena 

Fioravanti, Nicholas Gleeson, Sang Han, Fadi Hraibi, Bas Ludoph, Lara Olsen, 

Andrew Priest

Make sure your details are up-to-date in INSEAD Connect, so that we can contact you with more 

information about your upcoming reunions. If you require your login details, please contact: 

logins.alumni@insead.edu . 

Alumni Reunion team contact information: 

Barbara Ebert, Development Manager, Senior Alumni: barbara.ebert@insead.edu 

Linda Eshel, Manager, Senior Alumni Reunions: linda.eshel@insead.edu 

Céline Garsault, Development Manager, Young Alumni / MBA Students: celine.garsault@insead.edu 

Pascaline Ibanez, Young Alumni Reunions Manager: pascaline.ibanez@insead.edu

INSEAD's Growth in China 

June 2009 

Ten years ago, INSEAD had very few alumni in China. Since then, we have steadily increased our alumni 

population and presence in this part of the world. In 2006, we had 233 China-based alumni, in 2007, 308; 

in 2008, 355; and today we have 428. We aspire to reach 1,000 alumni located in China and contributing 

to business there within the next ten years. 

To help us reach this target, a Steering Committee consisting of alumni, faculty and staff, has been 

recently formed to coordinate INSEAD's activities in China. Three broad goals have been identified. 

� Increase INSEAD's visibility and profile in China as one of the top global business schools 

� Attract more academics who conduct original research on/in China and to increase our knowledge of 

China 

� Develop attractive and high impact management education programmes and events for China-based 

executives – either locally in China, or on one of our campuses/centres – with an emphasis on 

quality and impact 

Our positioning 

We aim to build on our positioning as 'The Business School for the World' to both add value to the Chinese 

context and also to differentiate ourselves from our competition. With time, we aim to build our China 

capabilities further while maintaining our global positioning. 

Our Strategy 

We are building our presence in China through: 

� Our partnership with Tsinghua University which has produced a successful joint EMBA Programme 

(attaining a 50% growth this year) 

� Increased marketing and more China-based events with the support of our growing alumni 

community in China (this year we are expecting to have over 1,400 people register for our 

marketing events) 

� A stronger online presence with the launch of INSEAD Knowledge in Chinese. Officially launched 

in March 2009, our partner site now reaches 500,000 users. We are looking to grow the site very 

quickly with help from alumni 

In our second Memorandum of Understanding (MOU), signed with Tsinghua last year, we set aside 

resources to encourage faculty exchange and to promote joint case writing on China related topics. 

Tsinghua's Dean Yingyi Qian hosted our Dean Frank Brown at a press conference in September last 

year, and has made several visits to both our Europe and Asia campuses. 

We realise that much work needs to be done to achieve INSEAD's goals in China. Further strengthening 

our brand and presence in China is vital for not only being credible in Asia, but also for our global 

positioning. 

INSEAD's name in Chinese 

As part of our institutional goal to standardise the use of our brand world-wide, we decided to examine 

how best to present INSEAD in the Chinese language. In China we were faced with a situation where 

INSEAD was translated – the European Business School - by the local press which created a number of 

issues. It made brand building problematic because it clashed with our tagline 'The Business School for the 

World' and the translation could not be protected legally as it is too generic. Also other business schools 

were already using 'the European Business School' or similar sounding names in Chinese. 

The school established a transliteration of INSEAD by way of a consultative process with the 440 Chinese 

nationals who are alumni. Over 50 suggested transliterations were submitted by alumni and these were 

narrowed down to 18 by a committee made up of native Chinese speakers who were either faculty or 

alumni. The same 440 alumni were then asked via an online questionnaire to rank the 18 suggestions. The 

six most popular transliterations were then rated in a second round and ???? (Ying si ya de) was 

chosen as the preferred transliteration. It comes close to the pronunciation in English and can be used in 

parentheses along side our brand - INSEAD - enabling Chinese readers to pronounce the name of our 

school accurately.

For the latest news about the Tsinghua-INSEAD EMBA Dual Degree, click here. 

For any further questions, please contact: Edward Buckingham, Director, INSEAD Executive MBA 

Programme.

Tsinghua-INSEAD Dual Degree EMBA programme - latest news 

Our joint EMBA programme with Tsinghua University 

enables participants to learn about China from some of 

the best minds in the country. Upon graduating from 

this dual degree programme, the participants 

(TIEMBAs) become Tsinghua and INSEAD alumni. 

Current Tsinghua -INSEAD intake 

The most recent Tsinghua-INSEAD EMBA intake was up 

50% on last year with 51 participants. There are 17 

nationalities represented in the class, with an average 

age of 36 years and 12 years work experience. About 

half of the participants are based in China, with the 

rest based across East Asia. Exactly half of the 

programme is taught by Tsinghua and half by INSEAD. 

June 2009 

We have many entrepreneurs in the programme such as Wu Hai, Founder and CEO, Orange Hotels which 

have properties in Beijing, Tianjin, Ningbo and Nanjing. The EMBA is especially well suited to business 

owners who cannot easily leave their companies for full-time study. 

Tsinghua-INSEAD EMBA opening ceremony class 2011 

Click on photo to enlarge 

For more information about the Tsinghua-INSEAD EMBA Dual Degree, click here.

INSEAD Business Journalists Seminar Europe 2009 

The INSEAD Business Journalists Seminar Europe took place on 

campus in Fontainebleau from 31 March to 2 April, just before 

INSEAD's flagship event, the Leadership Summit Europe 2009. 

This seminar is held each year on both campuses, in Fontainebleau 

(March-April) and Singapore (November). It has been developed 

for journalists who wish to enrich their understanding of business 

and finance and apply this knowledge to media publications. 

June 2009 

The seminar was attended by 17 journalists from countries in Europe representing their local media 

publication houses. Participants came from: AFP (UK-France); Publico (Portugal); L’Usine Nouvelle 

(France); Handelsblatt (Germany); Het Financieele Dagblad (the Netherlands); Dagbladet Borsen 

(Denmark); FT Deutschland (Germany); Business Immo (France); Monday Morning (Denmark); 

Kauppalehti (Finland); The Financial Times (UK); Taloustaito Magazine (Finland); Vacature (Belgium), and 

some freelance journalists attended as well. 

Over the three day seminar, participants received presentations from several faculty members covering a 

range of key topics: 

� Financial Accounting, by Professor Jake Cohen, Dean of the MBA Programme 

� Financial Statement Analysis & Red Flags, by Professor Jake Cohen 

� Business Valuations: The Newspaper Industry, by Professor Jake Cohen 

� World Economic Outlook: Searching for Growth, by Professor Ilian Mihov 

Seminar participants group photo 

(click on photo to enlarge) 

� Strategy and Blue Ocean: An Introduction to Strategy, by Professor Narayan Pant 

� Momentum Leadership for Efficient Growth, by Professor Jean -Claude Larréché 

� Media, Journalism & the Web 2.0 Revolution, by Professor Soumitra Dutta and Senior Research 

Fellow, Matthew Fraser 

One of the highlights of the seminar was a dinner hosted by Dean Frank Brown at his residence in 

Fontainebleau, where guest speaker, Julien Vaulpré, Special Advisor to the French President, Nicolas 

Sarkozy, spoke about public opinion surveys. 

The next Business Journalists Seminar will take place on INSEAD's Asia campus in Singapore, from 3-5 

November. For more details, or if you are working in the media industry and would like to participate, 

please contact: sophie.badre@insead.edu

INSEAD Alumni Career Services goes on tour 

Pamela McNeill, Assistant Director, Alumni Career Services 

has been visiting National Alumni Associations to spread the 

word about recent developments in the delivery of INSEAD 

alumni career servicers worldwide. Recent visits have included 

New York, Boston, London, Lisbon, Abu Dhabi and Moscow. 

New features discussed include online career development 

advice for members of the alumni association (accessed via 

INSEAD Connect, click on career services) where you will find 

useful tools, advice, weblinks and references such as lists of 

head hunters and advice on what to do in career transitions, as 

well as how to use the alumni network for your career 

progression. You can also access here the newly re-launched 

CareerLink (job board and CV Bank) to: 

- Activate your profile for searches by head hunters and 

corporate recruiters in this protected environment - using 

the 'Blacklist' function to exclude any registered company from accessing your details 

- Search the job board and sign up to receive email alerts based on your chosen criteria 

- Create your CV in CareerLink or attach your preferred version(s) in pdf format 

In addition to CareerLink you can also access job boards from HBS, Stanford and Kellogg, as well as 

several other online recruitment agencies with which we have agreements. 

For further information about these services, please contact Pamela McNeill. 

June 2009 

New York alumni career services event at which 

Professor Antonio Fatas, former Dean of the MBA 

programme, spoke about the current economic 

environment in a presentation entitled 

'There is light at the end of the tunnel' 

L to R: Professor Antonio Fatas; Tommaso Trionfi 

MBA'90D, NAA USA President; Pam McNeill, 

Assistant Director, Alumni Career Services; Jag Rao 

MBA'64, Vice-President, Careers, NAA USA

. 

CEO dinner series with Professor Anil Gaba in Sydney and Melbourne 

During the week of 4-7 May, INSEAD in collaboration with the Australasia Council and the National 

Alumni Association Australia & New Zealand hosted a series of events in Sydney and Melbourne. 

June 2009 

Professor Anil Gaba, Dean of Faculty, met with over 50 of Australia's top business leaders and members 

of the Australasia Council at the CEO dinner series* in Sydney and Melbourne on 5 and 6 May respectively. 

He led a lively discussion on his book 'Dance with Chance', co-authored with Professors Spyros 

Makridakis and Robin Hogarth. He also met 120 alumni and executive education attendees in both 

cities and presented the topic, 'Understanding the Paradox of Control'. His lecture was very much enjoyed 

by all and is a testament to why he has won numerous 'Best Teaching Awards' for the MBA programme. 

Networking cocktails followed the presentations. 

*The INSEAD-CEO dinner series is held in major cities throughout Asia. Each dinner brings together a 

select number of leaders in business, government and academia to share insights and experiences on 

emerging trends and critical issues affecting business leadership.

INSEAD-Wharton Alliance: Career workshop at INSEAD 

On 27 May, under the INSEAD-Wharton Alliance, INSEAD hosted a 

two-day career workshop for current INSEAD MBA participants and 

Wharton MBA exchange participants on our Fontainebleau campus. 

June 2009 

Michelle Antonio, Director, MBA Career Management, Wharton, gave a presentation about employment 

trends in the US and conducting and effecting an MBA job search. 

Chris Higgins, Senior Associate Director, Career Management, 

Wharton and Cara Costello, Senior Associate Director, Alumni Services 

for MBA Career Management, Wharton, also gave presentations about 

High Tech, Media and Entertainment and Consumer, Luxury Goods and 

Retail. 

Over the two days, about 40 MBA participants attended the workshop, 

where they also had the opportunity to meet with Michelle individually 

to discuss their future career paths. 

The next INSEAD-Wharton career workshop will be held at Wharton 

this coming fall. 

If you would like further information, please contact Sandra Schwarzer, Director, INSEAD Career 

Services. 

For more information about the Alliance, visit our websites, INSEAD and Wharton. 

L to R: Corine Balaam; Sandra Schwarzer; 

Michelle Antonio; Chris Higgins; 

Cara Costello

7th INSEAD Private Equity Conference (IPEC) 2009 

Panel discussions were held in the afternoon, focusing on topics 

such as emerging markets, distressed assets and 

green investments. For more information, please visit the website. 

June 2009 

On 22 May, over 320 alumni, students and private equity professionals gathered on campus 

in Fontainebleau for the 7th INSEAD Private Equity Conference, organised by the studentrun 

INSEAD Private Equity Club. With much thanks to the event sponsors, AlpInvest and 

BCG, this year's conference proved to be one of the most successful since its launch in 

2003. 

The morning programme featured two keynote speakers, Peter 

Cornelius, Senior Economist, AlpInvest, and Nicholas Bloy 

MBA'86D, Founding Partner, Navis Capital Partners. Before 

lunch, a 'war stories' fireside chat with Graham Oldroyd 

MBA'89D, Partner, Bridgepoint Capital, moderated by Professor 

Patrick Turner allowed the participants to share their 

professional experiences and lessons learnt.

The Good Entrepreneur - One idea to change the world 

The Good Entrepreneur is a competition which aims to identify entrepreneurs across Europe with 

environmentally responsible business concepts, which make a contribution to the protection of the 

environment. 

June 2009 

This competition has been created in partnership between CNBC, the leading business and financial news 

television channel and Allianz, one of the leading integrated financial services providers worldwide. 

The competition opened on 8 June 2009 and entries will close on 31 July 2009. The winning individual 

named 'The Good Entrepreneur of 2009' will receive a prize package worth more than €250,000, which will 

include a cash element of €50,000 plus exposure on CNBC, as well as comprehensive business support 

from Allianz. 

Anyone who is based in Europe can now enter via the website. You'll be asked to fill out an application 

form and submit a 60 second video, pitching your idea. The video doesn't have to be fancy - you could film 

it on your mobile phone - it's the idea that counts. 

The three finalists, who will be announced on 17 August 2009, will be filmed for a four-part televised 

series on CNBC, documenting the progress of each person. In the series finale, a panel of high profile 

judges will reveal the winner of the competition. The series will be broadcasted across Europe, the Middle 

East and Africa and in Asia during the autumn of 2009. 

If you'd like more information about entering the competition or how you can get involved as an 

organisation, please visit the website, or get in touch with Victoria Crawford or Bonnie Flaws at CNBC.

. 

INSEAD Healthcare Alumni Summit 2009 

On 8 October, the INSEAD Healthcare Alumni Summit 2009 will 

take place in Basel, Switzerland. This full-day international 

conference is organised by and for INSEAD alumni with a 

professional interest in the healthcare industry. 

June 2009 

Focusing on important developments and future trends in 

healthcare, the 2009 Summit will bring you fresh insights, 

lively discussions and intense networking. This year's programme is built around the core themes of 

Innovation, Consumer Healthcare and Internationalisation. Talks and panel discussions will feature 

top speakers from Europe, the United States, the Middle East and India, representing sectors such as 

pharmaceuticals, medical devices, healthcare services, online pharmacies, teleradiology, healthcare 

marketing, NGOs and investment banking. 

More information about the Summit programme, speaker biographies and online 

registration can be found on our website, click here. During the initial phases 

of registration, only INSEAD alumni can register, taking advantage of attractive 

discounts. The 'first mover' registration period ends on 19 June, 

afterwards 'early bird' discounts will be available through 31 July 2009. 

The Summit is organised by the INSEAD Healthcare Alumni Network which 

encourages networking and discussion among the more than 2,000 INSEAD 

alumni working in the healthcare industry and associated sectors. You can find more information about the 

network and healthcare activities in your country at www.InseadHealthAlumni.net. 

1

Alumni Volunteer Meeting - April, Fontainebleau 

June 2009 

On 4-5 April, the bi-annual Alumni Volunteer Meeting was held on campus in Fontainebleau, following the 

INSEAD Leadership Summit Europe 2009. 

National Alumni Association (NAA) Presidents from 32 countries and nine INSEAD Alumni Fund (IAF) 

Trustees attended the two-day meeting, which is held to share information about NAA and IAF activities 

and decide upon plans for moving forward with future activities, all in close collaboration with the school. 

New NAA Presidents, Svetoslav Stefanov MBA'06D, NAA Monaco and Ioannis Papaioannou MBA'91J, 

NAA Greece were welcomed, and thanks was expressed to retiring Presidents, Martin Ricketts MBA'69, 

NAA Monaco and Athina Dessypri MBA'87J, NAA Greece for their dedicated service. Though he could not 

attend, Bob De Man MBA'02D, President of the recently formed NAA Romania, was acknowledged for his 

work in getting the association off the ground. He has already established regular alumni events, following 

an inaugural dinner in December 2008. 

In terms of the IAA Executive Committee, Wolfgang Falter MBA'91D was acknowledged for his dedicated 

service in the role of VP Alumni Projects after five years. Pontus Bergdahl MBA'93D has taken over this 

role. Pontus served as President of the NAA Sweden for the last five years. 

In addition to discussing IAA and NAA business, there were also best practice sharing workshops for the 

Presidents, news of further INSEAD Connect developments and a plenary session with Dean Frank 

Brown, where discussions were held about the upcoming 50th Anniversary. 

On the Saturday evening, NAA Presidents and IAF Trustees were joined 

by Dean Frank Brown and Claude Janssen, Honorary Chairman of the 

INSEAD Board and Chairman of the International Council, plus other 

members of the school's leadership team and members of the NAA 

France, for dinner at the historic Château de Vaux-le-Vicomte. 

On Sunday morning, Dean Frank Brown hosted a plenary session in 

which he presented an overview of INSEAD's strategy and 

information on INSEAD's 50th Anniversary celebrations, which 

commence in September 2009. 

The next Alumni Volunteer Meeting will take place on 2 -4 October, in Montréal, Canada. 

Dinner at the Château de 

Vaux-le-Vicomte

Retiring and new National Alumni Association Presidents 

June 2009 

Our thanks go out to retiring National Alumni Association (NAA) President Monaco, Martin Ricketts MBA'69, 

who has recently stepped down - and a warm welcome to their new President, Svetoslav Stefanov 

MBA'06D. 

Take part in local alumni activities and benefit from alumni services by joining the National Alumni 

Association in the country of your residence.

National Alumni Association Belgium: 5th Salamander Road Challenge 

On 18 April, the tulip fields of Noordwijk, the Netherlands, were the scene for 

the 5th Salamander Road Challenge. After the Belgium Ardennes in the Spring 

of 2008, and the Audi challenge at Zandvoort in October 2008, it was now time 

to visit the Dutch tulip fields. 

Early in the morning, 20 cars lined up in the narrow car park of a local 

restaurant. Upon receiving their instructions and after having a rally plate fitted 

to their cars (not so easy on modern sports cars!), the participants set off for 

the first check point. Situated only a few hundred metres from the start, only 

four cars registered! Too early, or a possible coffee shortage? Unfortunately, 

many missed the first one! 

The already tired participants reached the lunch location of the day to enjoyed 

Dutch pancakes, where they also shared their morning experiences and 

discussed certain points of the route with the jury. 

In the afternoon, the challenge continued through the beautiful Dutch flower 

fields. Upon reaching the last check point, relief was clearly shown on their faces 

- only one kilometre to finish the challenge and enjoy a beer! 

Adding up the day's results, the winners were Bart Blommers NAA President 

for the Netherlands and his navigator, Ilja van Haaren IEP'98. Congratulations! 

We would like to express our thanks to everybody for their competitiveness and enthusiasm. 

The Sixth Salamander Road Challenge, from Brussels to Fontainebleau, will be held in April 2010. For 

further information, contact Mary Linn, Secretary, NAA the Netherlands. 

June 2009

National Alumni Association Canada: Blue Ocean Strategy Conference 

Blue Ocean makes a splash at Toronto's MaRS Discovery 

District 

Professor W. Chan Kim, co-founder and co-director of the 

INSEAD Blue Ocean Strategy Institute, stopped in at MaRS 

Discovery District for an informal visit and reception as a 

prelude to Canada's first Blue Ocean Strategy Conference, held 

in Toronto in February. 

The current tumultuous global economic environment was a 

hot topic during the reception. And for Professor Kim, difficult 

economic times only force us to think more creatively about 

how we create growth. His remarks on identifying opportunities amid economic restructuring were 

inspirational for the 50 plus guests in attendance. 

June 2009 

Professor Kim also met with some of the young companies that MaRS advisors work with across a range of 

sectors. 

'Professor Kim was very impressed with the companies he connected with here in Toronto and with the 

concept of MaRS as an accelerant for young companies,' said MaRS advisor Peter Evans, who appeared 

on a panel at the Blue Ocean conference and has been applying Blue Ocean principles in his work with 

high-potential MaRS clients. 

MaRS is a non-profit innovation centre focused on building Canada's next generation of technology 

companies. Since programming began in 2006, MaRS has advised more than 800 young companies across 

sectors, including information and communication technology, life sciences, cleantech and physical 

sciences. MaRS also offers entrepreneurial events and an inspiring 700,000 sq. ft. physical space that 

brings together a range of tenants across the innovation spectrum from incubator start -ups to mid-size 

enterprises and multinationals. To learn more visit www.marsdd.com.

National Alumni Association China: Book launch event - Dance with Chance 

Professor Anil Gaba presented his book, 'Dance with Chance: 

Making luck work for you', authored with Professors Spyros 

Makridakis and Robin Hogarth in Beijing and Shanghai on the 11 and 

12 March respectively. 

Roughly 30 alumni attended each presentation to hear not only about 

the book, Dance with Chance, but also about the school's latest 

developments. Lively Q&A sessions followed. 

After each event, alumni had the opportunity to discuss the book further 

with Anil over cocktails. 

Our thanks go out to Zhou Yu MBA'02J, NAA President China, and 

Helios Li MBA'00D, NAA Vice-President China, for their help in 

organising these events. 

For more information about the NAA China, please visit their website. 

Presentation in Beijing 

Presentation in Shanghai 

June 2009

National Alumni Association France: The 10th INSEAD Trophées Award Ceremony 

On 7 April 2009, over 200 alumni and guests attended 

the 10th INSEAD Trophées Award Ceremony, the 

largest annual event organised by the National Alumni 

Association (NAA) France. The INSEAD Trophées 

recognise business leaders in France in four different 

categories: 

- The Entrepreneur of the Year (L'Entrepreneur de 

l'Année). A business leader who has founded or 

acquired a middle to large-sized French company 

(minimum annual revenue of €100 million), obtaining 

strong growth and high performance over the last 

three years and foresight to stay ahead of competition in its market sector. 

INSEAD Trophées winners and guest speakers 

June 2009 

- The INSEADer of the Year (L'INSEAD de l'Année). An exemplary alumnus/a who has managed a large 

French company (minimum annual revenue of €100 million) which has had an exceptional performance in 

its market sector as a result of the implementation of a successful strategy. 

- The Innovative Entrepreneur (L'Entrepreneur Innovant). A business leader who has founded or 

acquired a French company, (minimum annual revenue of €5 million) implementing an innovative business 

plan with a sustainable competitive advantage, considering globalisation and the capacity to act as a 

reference for others. 

- The Social Initiative (L'Initiative Sociale). A business or association leader who has made a remarkable 

contribution to improve the quality of life for the underprivileged by creating activity and new opportunities 

within its business sector and successfully managing any arising risks. 

This year the INSEAD Trophées was kindly hosted by the Ministre des Affaires étrangères et européennes 

(Ministry of Foreign and European Affaires), in the 7th arrondissement in Paris. For the first time, the 

award ceremony took place during a seated gala dinner. 

Jean-Philippe Grosmaitre MBA'99J, President of the NAA France opened 

the ceremony, expressing the importance of recognising business leaders 

in France who have faced the challenges of globalisation and sustainability, 

and created successful businesses. He then introduced Hélène Duchêne, 

Director of Scientific and University Cooperation, Ministry of Foreign and 

European Affaires, who spoke about the interaction between public and 

private sector companies and the importance of business education. 

Dean Frank Brown then took the stage, delivering his speech in French. 

Stressing the need for multicultural leadership in today's business world, 

Frank reminded the audience that one of INSEAD's goals is to create the 

next generation of global leaders. He also spoke about some of INSEAD's 

fundamental values and strengths such as entrepreneurship and diversity, 

of which both are clearly shown in the founding of the school in 1959 and 

its global reach having campuses in Fontainebleau and Singapore, centres 

in Abu Dhabi and Israel, and an office in New York. Frank then spoke about 

INSEAD's 50th Anniversary celebrations, which will start with a 'Founders 

Dinner' on 12 September 2009 at the Château de Fontainebleau, to be 

followed by several events around the world where INSEAD faculty 

members will also take part. 

Jean -Philippe Grosmaitre MBA'99J, 

President, NAA France 

Dean Frank Brown 

Moving on to the awards, Jean-Philippe outlined the history of the INSEAD 

Trophées and introduced the judges, thanking them for their 

independent roles in the difficult selection process for the winners. Jean-Philippe then invited Jean-Marc 

Vittori, Editor, Les Echos, to present the INSEAD Trophées to the winners as follows: 

- The Entrepreneur of the Year - Norbert Dentressangle, Président du 

Conseil de Surveillance, Norbert Dentressangle

- The INSEADer of the Year - Christian Blanckaert MBA'71, Directeur 

Général, Hermès International 

- The Innovative Entrepreneur - Elisabeth Ducollet, Président, Thuasne 

- The Social Initiative - Aziz Senni, Fondateur, Business Angel des Cités 

Christian Blanckaert MBA'71 

After receiving their awards, the winner of each category gave a short presentation about their 

professional experiences and took part in a Q&A session moderated by Jean -Marc. 

Closing the 10th INSEAD Trophées Award Ceremony, Jean-Philippe thanked everyone involved in having 

made this event such a success, with a special thanks to the event sponsors, Deloitte, Aprimo and 

Viadeo for their generous support. Alumni and guests spent the rest of the evening enjoying the gala 

dinner and taking the opportunity to catch up with each other.

National Alumni Association USA: First INSEAD US Sustainability Roundtable 

On 29 April, 40 alumni gathered at the Union Square Hotel in New York 

for the first INSEAD US Sustainability Roundtable. The topic was 

'Cleantech', and the roundtable featured a panel of experts to discuss 

the business of renewable energy, water and carbon markets. 

Tim Kingston MBA'91J, Partner, Goldman Sachs, discussed his 

professional experiences at Goldman Sachs as well as investing in solar 

and wind energy. 

Sameer Agrawal MBA'05J, Director, Water Process and technologies, 

GE Energy, Matthew Diserio, President and Co-founder, Water Asset 

Management LLC, a private investment firm which invests only in water 

process technologies, co -owned by Disque Deane Jr. MBA'85J and 

Sonia Medina MAP'08, Country Director US, EcoSecurities, one of the 

largest producers of carbon credits, 

L to R: Kiku Loomis MBA'93D; 

June 2009 

educated the audience about carbon markets and new legislation which has the potential to bring a carbon 

cap-and-trade system to the US. The panel was moderated by Kiku Loomis MBA'93D, Chair of the US 

Sustainability Roundtable. 

After a lively panel session, participants and panelists enjoyed cocktails hosted by the INSEAD Americas 

office, where they also had the opportunity to meet Dean Frank Brown . 

Kiku Loomis said, 'the success of this event confirms my observation that business people from a wide 

swath of professions are keenly interested in sustainability as a new source of innovation and markets. The 

additional factor, that such endeavours bring social meaning to our jobs, is more than a bonus. It will be a 

requirement for many new MBA graduates.' 

If you are interested in receiving more information about the US Sustainability Roundtable or if you wish to 

join the network, please contact: Kiku Loomis.

National Alumni Association USA: Breakfast Roundtable discussion with Professor 

Ethan Kapstein 

On 20 April, Professor Ethan Kapstein presented 

'Africa's Capitalist Revolution', based on his recently 

published article for foreign affairs, at a breakfast 

roundtable discussion hosted by the World Economic 

Forum (WEF) USA in New York. He also shared his 

views on how the current economic crisis will influence 

growth in emerging market economies. 

Prof. Ethan Kapstein presents to participants 

With nearly 30 alumni and guests participating (of 

which many were WEF Global Leadership Fellows) the presentation led to stimulating debate. 

A special thanks goes out to Kevin Steinberg , COO, World Economic Forum USA, Paul Smyke who 

manages the Forum's partnerships and Heidi Morgan, Senior Team Coordinator for the centre. 

For further information, please contact Mary Lee Rieley, Executive Director, INSEAD North America. 

June 2009

Meet Franz Humer MBA'71, Chairman of the Board, INSEAD 

Swiss and Austrian by nationality, Dr. Franz B. Humer MBA'71 was 

appointed as Chairman of the INSEAD Board of Directors as of 1 July 2008. 

He is also Chairman of Roche Holdings Ltd, Chairman of Diageo plc, and an 

active member of several other international organisations. 

Formerly, Dr. Humer was Chief Executive of Roche Holdings Ltd, Chief 

Operating Director of Glaxo Holdings plc, and has held a number of other 

non-executive directorships, including Chairman of the European 

Federation of Pharmaceutical Industries. 

From 1995 until 2006, Dr. Humer was a member of the INSEAD 

International Council and the Swiss National Council. 

Nearly one year after his appointment as Chairman of the INSEAD Board, 

we asked Dr. Humer to tell us about the school's achievements and the 

Board's ambitions for the school's future. Read on. 

Dr. Franz Humer MBA'71 

June 2009

Meet Franz Humer MBA'71, Chairman of the Board, INSEAD 

June 2009 

INSEAD: You have now chaired the INSEAD Board for almost a year. As both Chairman and an alumnus 

of the school, what does the slogan 'The Business School for the World' mean for you? 

Dr. Franz Humer: 'INSEAD, The Business School for the World' is not a slogan. It is both INSEAD's reality 

and its aspiration, for three reasons: 

� The cornerstone is our faculty. No other business school has a more diverse and engaged faculty 

body than ours. 

� The diversity of our participants. No other business school in the world can claim the breadth and 

spread of our participants. 

� INSEAD's unique geographic spread. Our continued success in Fontainebleau, our successful 

development in Singapore, and our increasing activities in Abu Dhabi, Israel and New York. 

INSEAD: What are the next steps? 

FH: There is no doubt that Abu Dhabi will develop into another Singapore. Based on our executive 

education activities, we are studying the development of an Executive MBA in Abu Dhabi and also looking 

at new facilities. This is fully supported by our faculty, and six members will be located in Abu Dhabi by the 

end of this calendar year. 

Our research centre in Israel, although different in scale and purpose, is equally important. We hope that 

INSEAD's presence in the Middle East will contribute to facilitating dialogue and also have some influence 

on keeping peace in this key part of the world. In the meantime, we look towards the future and 

developing strategies for both India and China. 

INSEAD: How is the school planning to finance this global strategy? 

FH: The school needs support and money. The development in Abu Dhabi is funded thanks to the very 

generous support of the Abu Dhabi government. We have also just closed our latest capital campaign on 

time and on target, for a grand and impressive total of €203m, of which 20% came from alumni. It would 

be inappropriate to launch a new campaign in the current economic environment, but our need for support 

doesn't end, nor does our fundraising. Our alumni are in the best position to influence the world, in 

business and within their communities. We need our alumni to remain engaged and supportive. 

INSEAD: You mentioned faculty as the cornerstone of INSEAD. Can you elaborate? 

FH: Basically, we want to recruit and retain the best faculty. Over the last two years, several of our senior 

faculty members have retired and it has proven very difficult to recruit new faculty because of competition 

- many schools are trying to expand their activities, particularly in Asia. However, today, US schools are 

being hit hard as their endowments suffer due to the economic downturn, which has created an 

opportunity for us to recruit, as we are less dependent on our endowment. This year, we plan to recruit up 

to 20 new faculty members. Saying this, we also need to consider that this recruitment will represent an 

enormous task for our current team, as a huge effort to integrate and bring them into the school and into 

the INSEAD culture will be required. I also know that we need to maintain and share this very special 

feeling of - it is difficult to describe, but I certainly recognize it when I see it! – a feeling of community, of 

entrepreneurship, a 'can do' attitude. 

INSEAD: How would you describe INSEAD's image externally and in your opinion, how can alumni play a 

part in this? 

FH: Our vision is to be 'The Business School for the World'. The MBA programme is doing very well and we 

were pleased to be in 5th position in the latest FT survey. We are doing less well in executive education, 

but are putting plans in place to improve our position – the first, being to identify our weaknesses. Alumni 

already play and can play an even greater role in supporting these plans by referring company 

development leads and by helping us to get first -class candidates into our programmes. 

INSEAD: In terms of organisation, is the school ready to support such an ambition?

FH: When I took my MBA at INSEAD, Fontainebleau was the only location. Today, I see INSEAD as a small 

to mid-sized multinational having five locations. We need to ensure that our organisation can cope with 

this development. We have one Dean with global responsibility for business, and functional Deans 

responsible for different locations. We certainly recognise that our organisation has become more complex 

and we're ready to face this new reality. 

Our senior management team is strong, as is our Board, having a tremendous mix of experience and a 

wealth of knowledge. Four new members have joined our Board this year and we intend to continue a 

gradual renewal process. As previously mentioned, we shall make sure that new faculty members 

understand and are incorporated into the rich culture and diversity of INSEAD. 

INSEAD: As INSEAD starts to celebrate its 50th Anniversary, what is your concluding message to alumni? 

FH: The celebrations will kick-off on Saturday 12 September 2009, with the 'Founders' Day'. The first MBA 

class in Fontainebleau who started on Saturday 12 September 1959 are invited. This must be a good 

omen! For over 50 years the school has grown and changed, but its founding principles have remained and 

will continue to be the underlining principles of its development. We are proud of our European roots, of 

having become international and multicultural, of having remained independent and close to business and 

able to see that, more than ever, rigour and relevance make up the credo of our faculty. 

With the full support of each of you, we shall continue to excel and indeed to be 'THE Business School for 

the World'. I am proud to chair the Board of the school and look forward to working with each of you 

towards this goal. I am confident that we shall succeed because of our collective commitment, enthusiasm 

and fondness for this special institution.

Meet Andrew Alli MBA'95D, President & CEO, Africa Finance Corporation (AFC) 

Andrew Alli MBA'95D was appointed President and CEO of the Africa Finance 

Corporation (AFC) in November 2008. 

Established in 2007, AFC is a private sector -led investment bank and development 

finance institution, created to help mobilise and channel required capital towards 

driving Africa's economic development. Its mission is to address Africa's development 

needs in a profitable way, creating benefits for both investors and societies in the 

region. 

June 2009 

Before joining AFC, Andrew was Deputy Chief Executive Officer for Travant Capital, a 

private equity fund based in Nigeria, and Country Manager for both 

Nigeria and Southern Africa for the International Finance Corporation (IFC), the private sector financing 

arm of the World Bank Group. 

Andrew Alli MBA'95D 

We asked Andrew to tell us about his role at AFC, his views about Africa's economic development, and how 

INSEAD could build on its 'Africa Initiative', which aims to bring more African content to INSEAD, by 

increasing the number of African participants and sharing their experiences, increasing awareness of the 

continent for non-Africans and building global connections. Read on.

Meet Andrew Alli MBA'95D, President & CEO, Africa Finance Corporation (AFC) 

INSEAD: Can you briefly describe AFC's activities? 

June 2009 

Andrew Alli: AFC's principle objective is to assist in the development of Africa by helping to make 

commercially viable projects happen where they would not normally have happened. Although this is 

mainly achieved by providing and arranging the finance, we also provide technical expertise for the 

sponsors of the projects. AFC offers all forms of financing, ranging from senior debt through to mezzanine 

instruments and equity. We also provide investment banking services such as financial advisory and 

arranging. As we have a strong in-house technical capacity, we can also offer value-added advice to clients 

on the technical structuring and development of their projects. 

INSEAD: Does AFC specialise in specific industry sectors? 

AA: AFC can invest across most sectors. However, our focus is on the following areas as we consider them 

to bring the best combination of development impact and opportunities to invest in profitable projects; 

power, transportation, oil and gas, telecommunications, and what we call 'heavy industries', which includes 

sub-sectors such as fertilizer, petrochemicals and cement. 

INSEAD: How is the current economic crisis affecting AFC? 

AA: Leading up to and entering the crisis, AFC was well positioned. We have a balance sheet of about 

US$1 billion, which, as AFC is a relatively new organisation, was largely invested in liquid assets and is 

unleveraged. This provides us with a good opportunity to invest in assets at good prices. However, on the 

other hand the financial markets are effectively closed to African institutions. Thus we have to husband our 

current resources as we do not know when we will be able to raise additional capital or leverage. 

INSEAD: How would you describe the overall economic situation in Africa today? 

AA: Prior to the crisis, Africa as a whole had been doing quite well with real GDP growth averaging around 

5% for the last few years. This growth was not just due to increased commodity prices, although that 

helped, but also due to better governance, macro-economic and fiscal management as well as debt relief. 

Although Africa is suffering from the effects of the crisis, mainly through lower commodity prices and other 

transmission mechanisms such as lower remittances and a cut in accessing finance, the lower integration 

into the rest of the world coupled with the internal improvements mentioned earlier mean that as a region, 

it is poised to be one of the best performing in the world after only China and India. This is not to say that 

Africa is doing brilliantly. The International Monetary fund (IMF) has forecasted this year's growth to be 

around 2.5%, whereas last year it was around 5.2%. Well, at least it's not negative this year. 

INSEAD: Aside from the economic crisis, what other difficulties are African economies currently facing? 

AA: African economies face a number of difficulties, some structural and some self-inflicted. The 

International Finance Corporation (IFC) produces an annual 'Doing Business' report, which compares the 

ease of doing business in over 175 countries worldwide. With a few notable exceptions, the bulk of African 

countries are included towards the bottom of this list with a host of bureaucratic and legal impediments 

which affect their international competitiveness and promote corruption, a major bane of development in 

Africa. 

Poor infrastructure is another serious problem. Some years ago the World Bank carried out a study in 

Nigeria which showed that projects cost on average 30% more to implement as the project sponsor has to 

install its own infrastructure, electricity generation and water provision. This is before taking into account 

the increased operating costs. With these additional costs, it is hardly surprising that African 

manufacturing finds it hard to be internationally competitive, making it difficult for countries in the region 

to break out of the commodity trap and move into more value-added areas. 

INSEAD: How do you think African economies will develop in the next five years and why? 

AA: Assuming that the global economic situation stabilises and starts to improve over the next year, 

African countries should resume their positive trajectory. The macro -economic improvements which have 

taken place over the last few years have left African countries better able to stand the shock. Saying this, 

this will not be the case if the economic crisis carries on at this level of intensity for many years. The

governance and other reforms that have taken place mean that slow and steady improvements should 

continue to be the norm. 

INSEAD: Why is Africa an interesting continent for entrepreneurs? 

AA: One of the secrets of Africa, despite all the problems one hears about, is that this part of the world 

has seen the highest earned returns on investment. This is due to the low availability of many services, 

leading to people being prepared to pay well for services and the creation of vast market opportunities. 

When I was working at the IFC, we invested in mobile telephony in Africa in the late 1990s and early 

2000s and made huge profits – some of the highest returns on investments that the IFC has made in its 

history. Such successes have been repeated in several other sectors. 

Another reason for many African countries is the emerging middle-class. The emergence of a black middleclass 

in South Africa has been one of the major growth levers in that country in the post-apartheid era, 

and a similar phenomenon is now being seen in other countries. 

INSEAD: INSEAD launched the 'Africa Initiative' in an effort to bring more African content; experiences 

and participants in our programmes, increase connections between African and non-African networks, and 

reinforce INSEAD's mission to create truly global leaders. In your opinion, what should INSEAD aim to 

achieve within this initiative in the next three to five years? 

AA: Unfortunately so far, INSEAD has not been able to capture as large a 'share of mind' in Africa as 

alumni like me would like to see. Over the next three to five years INSEAD should aim to increase African 

participation in the MBA and executive education programmes. The latter being very important as these 

programmes expose senior executives to INSEAD, thus increasing awareness and acceptance of the 

school. Part of this will also need to involve developing content relevant to Africa – including case studies 

of African companies, as well as a more targeted marketing campaign. On a practical level, making it 

easier for Africans to be able to come to INSEAD would also be helpful. I know of at least one person who 

decided not to take an MBA at INSEAD because the French embassy in Nigeria made it so hard for him to 

get a visa that he gave up and went to an American school instead. Much of the effort in trying to attract 

Africans to INSEAD is focused on scholarships, which is very good. However, there are many Africans who 

have enough qualifications to get into the MBA programme and who can afford it, but they just don't think 

of INSEAD. 

INSEAD: What has proved to be of the most value from having taken the MBA programme at INSEAD? 

AA: The network, organisational behaviour, and the awareness of the totality of business. More than ten 

years on, I don't remember so many of the specifics that I learnt during the programme. But I do 

remember a range of skills that I use in my day-to-day job. I can't calculate the price of an option off the 

top of my head as I could have done at the end of my MBA, but rather like learning to read, the MBA 

provided me with a skill set and experience that continues to serve, and I imagine will do so for the rest of 

my life. 

INSEAD: What is your most favourite memory from INSEAD? 

AA: There are too many to pick one, but the summer ball, dinners and parties at the various houses, early 

morning runs, sunflower fields near Recloses - where I lived, group work – yes group work, are all happy 

memories. If I am really forced to pick one thing, it would have to be the people – the rich blend of my 

fellow participants, the knowledge of the faculty and the friendliness of all the staff at INSEAD.

International Executive Programme (IEP) March '88 Class Alumni Reunion 

On 22 May, 23 alumni and partners from the 

International Executive Programme class of March 

'88 gathered on campus in Singapore to celebrate their 

21st Alumni Reunion. 

This special group has continued their tradition of 

meeting in different locations around the world every 

year, with one exception of 1994, for the past 21 years. 

Last year their Alumni Reunion was held on campus in 

Fontainebleau, where they enjoyed lectures from 

favourite faculty members who taught them in 1988, 

June 2009 

International Executive Programme (IEP) March '88 

21 Years Alumni Reunion, 22 May 2009 

INSEAD Asia Campus, Singapore 

and learnt about the IEP programme today from Professor Kevin Kaiser, Co-Director, IEP programme. 

This year, the group was warmly welcomed on campus in Singapore by the Dean of Executive Education, 

Professor Narayan Pant who engaged them in a lively discussion and update about INSEAD. They 

received faculty lectures about 'Asia's Future in a World of Turmoil' and 'Negotiating in Tough Times', led 

by Professors Hellmut Schutte and Horacio Falcao respectively. 

Following their half-day reunion programme, the group enjoyed a tour of the campus, before settling down 

to a leisurely lunch, where Professor Michael Pich, Co-Director of the IEP Programme joined them. 

We would like to take this opportunity to thank Lee Suan Hiang for working with INSEAD in the 

organisation of their reunion, especially the social activities held over the weekend following their oncampus 

programme, which were enjoyed tremendously by all. 

Plans are already underway for their next reunion to be held in Malaga, Spain, in May 2010, hosted by 

Jochum Pihl.

The INSEAD Swiss Healthcare Industry Club 

Are we ready to face the next healthcare crisis? 

On 7 April, more than 50 alumni and guests gathered 

for a panel discussion entitled 'Are we ready to face 

the next healthcare crisis?' 

The event was organised by the INSEAD Swiss 

Healthcare Industry Club and took place at the Hotel 

President Wilson in Geneva. 

The main speaker of the evening was Dr. Guenael 

Rodier, a leading expert on emerging infections and 

epidemic control from the World Health Organization 

June 2009 

(WHO). Dr. Rodier described how international 

responses to global health threats have evolved over time, from the plague and Ebola outbreaks of the 

1990s (which he witnessed on the ground) to the International Health Regulations established in response 

to the 2003 SARS outbreak. His talk vividly illustrated how the early detection and containment of such 

threats requires a concerted, multisectoral approach that involves logistics and diplomacy as much as the 

use of new life science and information technologies. 

L to R: Dr. David Reddy, Roche Pharma; Grégory Hustache 

MBA'06D; Dr. Guenael Rodier, WHO; Prof. Prashant Yadav, 

Zaragoza Logistics Centre; Dr.Chandra P. Leo MBA'02D 

For the following panel discussion, Dr. Rodier was joined by Dr. David Reddy, who leads Roche's Global 

Influenza Pandemic Task Force, and logistics expert Dr. Prashant Yadav, visiting Professor at INSEAD's 

Social Innovation Centre. Dr. Reddy outlined how Roche set up its international supply chain to quickly 

increase production capacity for the antiviral Tamiflu to 400 million treatment courses. He and Dr. Yadav 

then went on to describe the logistical challenges of swiftly deploying emergency medications from central 

warehouses to remote parts of the world. 

The event highlighted that the WHO and individual countries and industries have taken many important 

measures to provide rapid responses to emerging health threats. Still, adequate preparations for a true 

global healthcare crisis would require an ongoing investment beyond today's levels. On the one hand, 

developing nations (where many potential threats emerge) cannot cover such costs out of their already 

overstretched healthcare budgets. On the other hand, public health policies in developed nations tend to 

cut funding for underutilised resources (such as hospital beds or stockpiled drugs), thereby eliminating the 

very surge capacities required in case of a crisis. 

Covering the cost of preparing for something that may not happen requires a 'risk management' mindset 

that is today more prevalent in the military/security sectors than in healthcare. After all, most countries 

would not dismantle their air defence system just because it has not been used for a number of years. But 

the next deadly enemy many nations will face may well be an emerging virus. 

For further details about this event, please contact Gregory Hustache MBA'06D. For more information 

about the INSEAD Swiss Healthcare Industry Club, please contact Chandra P. Leo MBA'02D or 

Aleksandar Ruzicic MBA'97J. 

For a copy of Dr. Rodier's presentation, please go to our website (under 'Other Events').

Faculty publication - Humanitarian Logistics by Rolando Tomasini, Humanitarian 

Research Group Leader & Professor Luk Van Wassenhove 

Rolando Tomasini 

Prof. Luk Van 

Wassenhove 

June 2009 

What can the public and private sectors gain from working together on humanitarian 

issues? 

How can humanitarian logistics and business supply chain strategies be effectively 

integrated to create lasting social impact? 

In their new book, Humanitarian Logistics, Rolando Tomasini and Professor Luk 

Van Wassenhove explore such questions, identifying areas where humanitarian 

organisations and private sector companies can successfully collaborate. 

Based on seven years of research with private companies and humanitarian 

partners, such as United Nations agencies and the International Federation of the 

Red Cross and Red Crescent Societies, their book features topics such as: 

� The importance of supply chain management in disaster relief 

� Building blocks for disaster preparedness strategies 

� Key issues in coordinating response operations with multiple partners 

� The importance of transparency and accountability in the supply chain 

� Corporate social responsibility in the humanitarian sector 

� The challenges and importance of information and knowledge management 

for humanitarian organisations, and more... 

'Humanitarian organisations recognise that the private sector can help with resources 

and expertise, while the private sector is looking for opportunities to improve its 

impact on society through responsible actions,' say Professor Luk Van Wassenhove 

and Researcher Roland Tomasini. 'Successful partnerships help to improve the 

competitive advantage of both parties as a result of the exchange of best practices 

and knowledge.' 

We asked the authors to tell us more about their book. Read on. 

Watch a short video interview with the authors on INSEAD Knowledge. For more 

information, sample chapters and to buy a copy online from Footnote, visit the 

website. 

About the authors 

Rolando Tomasini is Research Group Leader at the INSEAD Social Innovation Centre's Humanitarian 

Research Group. He joined INSEAD in 2002 to work on humanitarian logistics and humanitarian private 

partnership (Corporate Social Responsibility and Public Private Partnerships). Through his secondments, 

research and consulting projects with different humanitarian organisations in the field and head offices, he 

has produced several case studies, articles, reports and lectures on the subject. His material is widely used 

for teaching at business schools all over the world. 

Professor Luk Van Wassenhove holds the Henry Ford chair in Manufacturing at INSEAD while serving as 

the academic director of INSEAD's Social Innovation Centre. His recent research focus is on closed-loop 

supply chains and disaster management producing several award-winning case studies and articles on 

both subjects. He publishes extensively in Management Science, Operations Research, The International 

Journal of Production Research, The European Journal of Operations Research and in many other journals. 

He also regularly consults for major international corporations.

Faculty publication - Humanitarian Logistics by Rolando Tomasini, Humanitarian 

Research Group Leader at INSEAD & Professor Luk Van Wassenhove 

INSEAD: What can private sector companies gain from working with humanitarian organisations? 

June 2009 

Luk Van Wassenhove: The quick answer is visibility, reputation, and employee motivation. However, this 

is only part of it, and sadly this is where many companies stop. What they can really gain is knowledge. 

Humanitarians have an exceptional capacity to deal with uncertainty and limited resources as disasters 

happen overnight, with different magnitude, affecting different groups. They also have a great ability to 

connect with locals to rapidly identify needs, and communicate with them. All desirable qualities for 

corporations operating globally. 

INSEAD: In which areas can humanitarian organisations benefit the most from collaboration with private 

sector companies? 

Rolando Tomasini: There are several. Our research shows that humanitarian organisations can benefit 

from cash donations (often raised through employee donation programmes, fundraising efforts, or cause 

related marketing), visibility from corporate circles, access to trained staff and experts, access to assets 

(ranging from a spare office to high-tech equipment), and knowledge. 

INSEAD: Can you give a brief outline of how your book can help both private sector companies and 

humanitarian organisations in building working relationships? 

RT: Chapters one and two define the link between logistics and humanitarianism, two areas that we 

connect through our research and work with agencies and companies. Chapter one presents key concepts 

from supply chain management that we found most useful to understand and create parallels with the 

humanitarian world. Chapter two introduces key concepts from the humanitarian sector that define the 

parameters in which an emergency operation takes place. 

Chapters three and four focus on the importance of working between (preparedness) and during 

(coordination) disasters to respond to the needs of the beneficiaries. Chapter three serves to explain the 

aspects of preparedness that need to be addressed to establish supply chain management as a core 

function in humanitarian organisations. Chapter four discusses the challenge of coordinating a response 

through the different stages of a disaster without command and control or a profit incentive. 

Chapters five and six address two of the most crucial issues we encountered in our research: information 

and knowledge management. Chapter five discusses how to prioritise the flow of information to attain 

transparency and accountability, two very important factors to reduce politicization and manipulation of 

aid and improve planning. Chapter six explains how information can be turned into knowledge and 

integrated into organisations to improve their performance, an important element in light of high staff 

turnover and limited resources. 

Chapter seven returns to the departure point to analyse the areas in which supply chain management in 

the humanitarian sector can be improved. This time around we examine cross -learning opportunities 

between the humanitarian and the private sector through public-private partnerships and corporate social 

responsibility initiatives. The chapter explains how these partnerships are designed keeping in mind the 

cultural differences between the two sectors and the need to make partnerships sustainable. 

INSEAD: Many companies are suffering due to the current economic situation. Are there ways in which a 

private sector company can help a humanitarian organisation non-financially? 

LVW: Of course. Even though cash is a good way to help, it's not everything. Companies can contribute to 

humanitarian organisations with their expertise, their capacity, and their network. For example: when a 

disaster happens, humanitarian organisations could rely on their private partners to second highly trained 

staff to set up part of the operation. Similarly, between disasters, humanitarian organisations could rely on 

their private partners to redesign and optimise their processes with consultants and trained personnel. In 

either case, companies can establish connections within their network for humanitarians to find solutions 

or increase their visibility. These are all valuable efforts. 

INSEAD: How well do private sector companies and humanitarian organisations understand each others

oles and responsibilities? 

LVW: Increasingly better, effort is needed to overcome their differences. They are two different sectors, 

driven by different objectives and operating with different structures and systems. For a relationship to 

work, both have to spend resources (time and money) to get to know each other and find common 

grounds. The best is to focus on what each can do best, and decide when they can help each other and for 

how long. Another useful approach is secondments to build a better understanding and trust. 

INSEAD: More and more private sector companies are looking to move into or increase their presence in 

emerging markets. How can collaboration with a humanitarian organisation help them to build their 

presence in such parts of the world? 

RT: Humanitarian organisations operate in different parts of the world embedding themselves in society. 

As such, they develop pretty good knowledge of the actors, the politics, and the priorities. Humanitarian 

organisations can provide this experience; however it should not come at the expense of their neutrality 

and impartiality. 

INSEAD: Can you give an example of a relationship/partnership between a private sector company and a 

humanitarian organisation, where both parties have benefited? 

RT: There are several that we cite in our book and case studies. In the logistics sector there is the TNT- 

World Food Program partnership where both organisations have been working together over the past six 

years to fight hunger. TNT donates cash, knowledge and capacity for different projects to the World Food 

Program (WFP). Increased awareness of the issue of hunger, cash raised by donations, more private 

sector partners, and potential gains and efficiencies in their operations from the knowledge exchange are 

among the benefits that the WFP has received from their investments. 

INSEAD: What advice would you give to those alumni who wish to become more involved in humanitarian 

issues, either on behalf of their company, or at an individual level? 

LVW: To define first how they can best help: what are the strengths, competencies, resources that they 

can provide. Then define the magnitude of their commitment: how much can they give, for how long. 

Explore with humanitarian organisations ahead of time how their contribution fits their priorities as 

different agencies have different priorities. Finally stay humble and open to communication, as disaster 

needs change all the time.

Faculty publication - Global Latinas: Latin America's emerging multinationals by 

Lourdes Casanova, Lecturer, Strategy Department 

In the past few years, emerging market companies have stormed on to the world 

stage. 

� According to the World Investment Report (2008), outward foreign direct 

investment from emerging economies reached US$ 253 billion in 2007, the 

highest level ever recorded, representing 14% of world outward flows. 

� The number of multinationals from emerging economies in the Global 

Fortune 500 has increased from 19 in 1990 to 76 in 2008, with ten of them 

coming from Latin America. 

This growing number of Latin American corporate giants, which are referred to as 

'Global Latinas', is the subject and title of INSEAD Lecturer, Lourdes Casanova's 

new book, in which she explains the reasons for their dramatic appearance and 

explores the major potential that they represent. 

Most of the research carried out so far on multinationals has focused on companies 

from developed markets. Research on multinationals from emerging economies is 

relatively new and mainly focused on Asia. Little research has been carried out on 

the internationalisation strategies and challenges of Latin American multinationals. 

'Global Latinas' aims to fill this void. 

We asked Lourdes to tell us more about her book. Read on. 

June 2009 

Lourdes Casanova 

Watch a short video interview with Lourdes about her book on INSEAD Knowledge. To buy a copy online 

from the publisher, click here. To buy a copy from Footnote, click here. 

About the author 

Lourdes Casanova is a Lecturer at INSEAD and specialises in international business with a focus on Latin 

American business. She has a Master's degree from the University of Southern California and a PhD from 

the University of Barcelona. She has taught at INSEAD since 1989 and was a visiting professor at the 

University of California at Berkeley from 1996 - 1999. She also manages INSEAD's relationships with 

corporations in Latin America. She is a consultant to the Inter American Development Bank. 

Lourdes has taught in and directed different executive education programmes at INSEAD for managers 

from European and Latin American firms. Her research is on winning strategies for Latin America with a 

special focus on 'natural markets'. Her recent research projects have investigated strategies of companies 

from Asia, Europe, and the USA for entering Latin American markets and the responses of Latin American 

firms to global competition and deregulated economies.

Faculty publication - Global Latinas: Latin America's emerging multinationals by 

Lourdes Casanova, Lecturer, Strategy Department 

INSEAD: Can you explain the origin of the name 'Global Latinas' and what it means? 

Lourdes Casanova: Global Latinas refers to Latin American multinationals which have come on to the 

world stage and succeeded in the United States, Europe or Asia. 

INSEAD: Who may be interested in reading this book? 

LC: It should be of interest to experts and managers who are working with/in Latin America and more 

generally, any emerging market. 

June 2009 

INSEAD: Can you briefly outline the book's contents and give an example of a successful 'Global Latina' 

that it features? 

LC: Very little research has been carried out on Latin American multinationals. So far, most of the research 

on companies from emerging economies has focused on Asia. Latin American companies have fallen 

through the cracks. This book celebrates the success of the region and its multinationals, giving many 

examples. 

The most important Latin American multinational in terms of innovation and global reach is Cemex (a 

global industry leader in building materials), although they have been affected by the current economic 

crisis. Their experience and strength has carried them through much turbulence over the years, and I 

believe that this will pull them through this difficult period. The book examines the company, identifying 

reasons for their success and looking at their world-class management standards, which have enabled 

them to maximise efficiencies and keep costs low, winning admiration from all over the world. 

INSEAD: Are there certain industry sectors from which the majority of new global firms in Latin America 

come from? 

LC: The new 'Global Latinas' come from a wide range of sectors, however, we have seen a predominance 

of firms from the energy and mining sectors. 

INSEAD: How does Latin America compare to other emerging markets such as India or China, in terms of 

successful multinationals? 

LC: If we look at numbers, there are 29 multinationals from China in the latest Fortune 500, compared to 

only ten from Latin America. However, Latin American companies have been able to survive the turbulent 

waters of multiple major crises in their home countries and show resilience. 

INSEAD: How does the US economy influence business in Latin American countries? 

LC: The US was the first trade-partner of and investor in Latin America, and has continued these activities 

ever since. Latin America is the most important market after the US for many North American 

multinationals, such as Citibank and Coca Cola, as they started their international expansion in Latin 

American countries, in some cases, more than 100 years ago. 

Mexico is the third most important trade-partner for the US. Eighty per cent of their trade is with the US, 

which is also why they are suffering more than other Latin American countries in the current crisis. Brazil 

and South America have a more diversified set of trade and investment partners, and seem to be 

weathering these difficult economic times better. 

INSEAD: What advice would you give to alumni who are interested in working in this part of the world? 

LC: Dare to move! There are many opportunities in the region.

Faculty publication - Collaboration: How Leaders Avoid the Traps, Create Unity 

and Reap Big Results by Professor Morten Hansen 

Can you identify when internal collaboration is bad for your company? 

Do you create cross-unit collaboration for collaboration's sake? 

Internal collaboration is almost universally viewed as good for organisations. 

Leaders routinely challenge employees to tear down silos, transcend 

boundaries, and work together in cross-unit teams. Yet, while some 

collaborative efforts achieve spectacular synergies, many actually backfire, 

wasting time, money and resources. Why does this happen and how can you 

avoid it? 

Based on 15 years of research, Professor Morten Hansen's new book, 

Collaboration: How Leaders Avoid the Traps, Create Unity and Reap Big 

Results, provides leadership with a very solid underlying 'management 

architecture' to help make decisions on collaborative efforts. 

Deciphering when to collaborate - and when not to - is the first critical step in 

disciplined collaboration. In his book, Professor Hansen highlights common 

collaboration traps that managers must avoid, and identifies four major barriers 

to successful collaboration - the 'not-invented here' syndrome, hoarding, search 

problems, and transfer issues - showing leaders how to spot them. 

We asked Professor Hansen to tell us about his research and conclusions, and 

how organisations can reap big results from successful collaboration. Read on. 

'Whether you're shipping your first product or leveraging the scale of a global 

enterprise, Hansen understands that effective collaboration requires discipline 

and active leadership. His book highlights when and how to collaborate to drive 

better outcomes. Even more importantly, he identifies when and how not to 

collaborate. There are lessons in this book for every leader.' Todd Bradley, 

Executive VP, Hewlett-Packard Personal Systems Group. 

June 2009 

For more information and to buy a copy of the book online, visit the website. Assess how your company 

or unit measure up according to the principles of disciplined collaboration as described in the book, click 

here. This book is also available at Footnote. 

Watch a short video on INSEAD Knowledge with Professor Hansen, click here. 

Prof. Morten Hansen 

Harvard Business Review has published 'When Internal Collaboration Is Bad for Your Company', by 

Professor Hansen. For more information and to buy a copy online, click here. 

About the author 

Morten T. Hansen is Professor in Entrepreneurship at INSEAD and also at the University of California, 

Berkeley. Prior to INSEAD, he was a professor at Harvard Business School, Harvard University, for a 

number of years. 

Professor Hansen's research has focused on collaboration, family business, innovation, corporate 

transformation, and building great companies. It has been published in leading international journals, 

including Administrative Science Quarterly (ASQ), Strategic Management Journal, Organization Science, 

Academy of Management Journal, Harvard Business Review, Sloan Management Review, among others. 

Professor Hansen is the winner of the 2005 ASQ award for having made exceptional contributions to the 

field of organisation studies. 

In addition to his academic career, Professor Hansen was also a senior management consultant for a 

number of years in the London, Scandinavian and San Francisco offices of the Boston Consulting Group. 

He consults regularly to large global companies in the US and Europe and is a noted speaker at senior 

executive and in-company conferences.

Faculty publication - Collaboration: How Leaders Avoid the Traps, Create Unity 

and Reap Big Results by Professor Morten Hansen 

INSEAD: What exactly does the term 'disciplined collaboration' mean? 

June 2009 

MH: Disciplined collaboration is about picking the right collaboration projects and lowering friction between 

people who need to work together. It's about focusing on results and not collaboration itself. 

INSEAD: Can you outline the practical tool -set that you recommend in your book? 

MH: To reach disciplined collaboration, managers need to follow three steps: 

1. Figure out where the opportunities are 

2. Spot and tear down four barriers 

3. Tailor levers to those barriers 

I offer practical self-assessment tools for each of these steps. 

INSEAD: The book states that one enemy of collaboration is modern management techniques. Can you 

explain this? 

MH: We celebrate decentralised management, which means dividing work into chunks and letting teams 

run with those chunks. It's a great system, but only up to a point as it can also lead to the creation of silos 

and fiefdoms. We need a better model - decentralised yet connected. That's disciplined collaboration. 

INSEAD: How can a leader innovate their workforce to collaborate more effectively, considering that 

employees don't always want to collaborate? 

MH: Start by measuring collaborative contributions and including those metrics into evaluations and 

promotion decisions. That usually gets people to wake up. 

INSEAD: How can a company be sure that a project is not too marginal to carry out effective 

collaboration? 

MH: Calculate what I call the 'collaboration premium'. First compute the net cash flow, assuming things 

will work out. Then subtract potential collaboration costs, which refer to lost money due to difficulties in 

collaborating. Then subtract opportunity costs - lost money from other projects not undertaken because 

you're doing the collaboration. If the cash flow is still great, go ahead. If not, don't collaborate. 

INSEAD: Can you give an example of a 'collaboration trap' that managers must avoid? 

MH: Over -collaborate. In an eagerness to break down silos and promote teamwork, managers go too far. 

People start collaborating too much on projects of marginal value. A good warning signal is too many 

meetings. 

INSEAD: Can you give an example of a company which has suffered significant losses because of 

ineffective collaboration? 

MH: Yes, Sony when they tried to respond to Apple's iPod by launching a product called 'Sony Connect'. 

The problem was that it was a terrible product and that Sony failed to collaborate well across the five 

divisions that needed to produce it. Hence, the product was launched with a lousy interface between the 

player and the online music store, resulting in Sony loosing that market to Apple. Think about it, Sony 

should have owned that market. 

INSEAD: As many businesses today are cutting costs due to the recession, internal collaboration may be a 

low priority. Is this a mistake? If so, why? 

MH: Well, it's a good idea to cut out undisciplined collaboration! Get rid of those meetings that don't 

produce much, stop collaboration projects with questionable value, terminate aimless brainstorming

sessions. But it is vital to instil disciplined collaboration, which is about working in a smarter and leaner 

way. Collaboration is, in its essence, about doing more with less. That's paramount not only in a recession, 

but also post-recession. To do more with less will become a 'new normal'.

Living outside the box - INSEAD alumni stories wanted! 

So you think living abroad made you more creative? Perhaps you're a better problem 

solver or negotiator as a result of moving to Fontainebleau or Singapore. Or maybe you 

had an ex-pat experience entirely unrelated to INSEAD that turned you into an 

entrepreneur or a writer. Well, prove it then. 

That was the challenge Will Maddux, INSEAD Professor of Organisational Behaviour 

recently set himself. Working in collaboration with fellow psychologist, Adam Galinsky, 

from the Kellogg School of Management, he devised a series of experiments to test the 

common assumption that living overseas makes people more creative. 

June 2009 

Their investigations, partly carried out at the INSEAD Social Science Research Centre in Paris, left them in 

no doubt. On one standard psychological test for creativity, the Duncker candle problem, 60% of subjects 

who had lived abroad experiences successfully solved the challenge, compared to 42% of those who 

hadn't. And in a negotiation simulation, 70% of pairs where both parties had ex-pat experiences reached a 

creative compromise. Among those pairs where neither member had lived abroad, precisely 0% 

succeeded! 

Prof. Will Maddux 

More details of the research are available in the official INSEAD press release. But the underlying 

explanation could be quite simple. As Professor Maddux puts it, 'When you live abroad, you're out of your 

comfort zone. You have to figure out from scratch how to live, how to behave, how to think. Once you've 

been abroad long enough that becomes part of who you are. You start to look at the world differently.' The 

study was in fact inspired by his own experiences as an American living and working in Japan in the 1990s 

– a time which he believed irrevocably changed his own identity and shaped his perspective on the world 

in general (and presumably his creative abilities as well). 

The research has already received a great deal of attention. You might have read about it in The 

Economist, The Financial Times , USNews and World Report. Professor Maddux was also interviewed by 

BBC Radio 3 at the end of May, discussing his findings with British novelist, Sarah Dunant, who confirmed 

them anecdotally. 

And that's exactly where you might come in too! 

Professor Maddux is now working on new articles and looking for further anecdotes and perhaps even 'mini 

cases' to confirm his experimental findings about living abroad fostering creativity. In short he's 

challenging INSEAD alumni to prove it too! 

Professor Maddux is particularly interested in stories of business creativity – in other words, insights that 

are not only novel but commercially useful, such as an idea for a new business or new product. These 

experiences should ideally be directly inspired by time spent overseas or simply follow on from it. The 

main thing is that they're specific, concrete and linked to living abroad, as opposed to simply travelling. 

If that resonates with you, please send a brief email to william.maddux@insead.edu outlining your 

experience and providing contact details. The idea is ultimately to use the anecdotes and mini cases to 

illustrate the research findings for managers and leaders in outlets like the Harvard Business Review, as 

well as to develop practical guidelines for companies and individuals about overseas assignments. Rest 

assured that no stories will be used without seeking permission and that names can be changed to 

preserve anonymity if preferred. 

And if you have friends or family with similar stories to tell, so much the better. Put them in touch. After 

all, everyone knows that INSEAD alumni are a creative bunch and that pretty much all of them live abroad 

at some point in their careers.

Executive Education at INSEAD - Developing business leaders for the world 

INSEAD Executive Education has a comprehensive 

portfolio of programmes that will enable you to do what 

it takes to fulfil your leadership potential and inspire 

your organisation to do what is necessary to be 

successful during these challenging times. 

Let us also take this opportunity to remind you that 

as alumni, you receive a 25% discount on all Executive Education open -enrolment programmes. 

Selected open-enrolment programmes at a glance 

June 2009 

June 2009 

Leading the Effective Sales Force - Transform your sales force into a driver of growth 

Increasing sales while simultaneously controlling costs in any sales operations is a necessary but elusive 

balance. This joint INSEAD-Wharton programme helps to find this balance – through motivating and 

compensating teams, changing organisational structures, shifting market emphasis, amongst others. Read 

more. 

July 2009 

Advanced Management Programme - When the going gets tough, the tough stay ahead 

Leading an organisation through changing times is a challenging task and the right skills set are 

necessary. This four-week programme will inspire high-achievers to take on the challenges with greater 

confidence - both on a professional and a personal level. Read more. 

August 2009 

International Executive Programme – There is no short cut to the top, but you can arrive better 

prepared 

This six-week programme will ease the transition from functional to general management, and enable 

executives to make better-informed decisions and implement value-driven strategies as well as build their 

stature to lead a global organisation. Read more. 

International Marketing Programme – Sharpen your marketing skills 

This programme is designed for marketing managers and executives previously from non-marketing roles 

who today require a more comprehensive understanding of marketing concepts and tools. This two-week 

programme covers both the overall marketing principles as well as content tailored to participants' own 

expertise. Read more. 

September 2009 

Management Acceleration Programme - Prepare for today’s challenges and tomorrow’s opportunities 

This three-week programme will expand knowledge of fundamental business principles, as well as develop 

confidence and leadership skills. Through a unique 360-degree coaching technique, executives will embark 

on a personal journey that will challenge the way they think. Read more. 

Managerial Skills for International Business - Enhance your cross-cultural management skills 

Improve communications across different cultures, and build the confidence required to manage teams as 

well as implement cross-border processes in this unique ten-day programme. In the process, learn how 

structured globalisation can impact one's role, and how to utilise ways of doing things better, cheaper and 

faster. Read more. 

Advanced Industrial Marketing Programme – Cut through the complexity of business-to-business 

marketing 

This programme is designed for experienced executives to take on the challenges of marketing to other 

businesses – from segmentation to pricing and customer relationships. And in addition sustain the sales 

momentum by building closer customer and supplier alliances. Read more.

INSEAD alumni - powering the world economy through family business 

Family businesses are surviving the global economic 

meltdown better than other types of companies. At 

least, that's the conclusion of a recent report from 

Barclays Wealth and the Economist Intelligence Unit, to 

which INSEAD's Wendel International Centre for 

Family Enterprise (WICFE) contributed. 

June 2009 

The report's conclusions seem to be borne out within INSEAD itself. According to Randel Carlock, 

Berghmans Lhoist Chaired Professor in Entrepreneurial Leadership and Director of WICFE, the composition 

of his thriving MBA family business elective is changing. Gone are the would-be consultants and non-family 

executives. 'Instead,' he says, 'the majority of participants are from business families – and most of them 

planning to return to the family firm on graduation.' 

MBA elective 

Brent Williams MBA'08D, a recent graduate of Professor Carlock's course and 

one of many alumni working in family businesses throughout the world, agrees 

that returning to the family firm can be a safer career bet in difficult economic 

times. He points out, 'Family firms are often more successful than public 

companies because of their long-term vision. Now that I'm part of the 

business, I can see how we're able to look beyond quarterly profits and nurture 

the company for the future.' 

Brent used the project component of the MBA elective to help US Tool Group, 

the company currently run by his father, with its succession planning – and to 

define a role for himself. 'The truth is that the company has done pretty well 

without me for half a century!' he says. 'So right now, I'm just trying to learn 

what made it successful before attempting to make any changes. One 

thing I've already learned is how the consistency of 

management has created a stable work environment – we've had only two CEOs in fifty years.' 

Prof. Randel Carlock 

Executive education and alumni books 

For those alumni who didn't manage to catch the elective during their MBA, INSEAD's executive education 

programme, the Family Enterprise Challenge (FAME), offers a second chance. This was the case for 

Ahmed Youssef , a management consultant based in Dubai, who graduated in 2003, but recently returned 

to the school to complete the FAME programme as a guest of one of his clients. He explains, 'Here in the 

Middle East, family business is one of the cornerstones of the economy, so it would be hard for a 

management consultant to avoid it. But, I've developed a true passion for helping family firms prosper.' 

So what was the most important lesson from INSEAD second time around? 'In particular, the experience 

crystallised in my mind the fascinating distinction between ownership and management,' says Ahmed. 'I 

think a lot of family members are keen to take on executive status instead of finding a top-notch manager 

outside, who can run the business. As a result, they lose out financially.' 

His conclusions are supported by Roger Abravanel, who gained his MBA back in 1972, but whose book 

Meritocrazia has recently been making waves in his native Italy. Published in 2008, it has already been 

reprinted five times. Roger explains, 'Globally, there has been much research showing that the family firm 

is the predominant form of business in the world – and possibly the most successful too. And there are as 

many family firms in Italy as elsewhere in the world. However, the Italian model of family business is one 

where the family retains complete control, which can make growth problematic. As a result, there are 

fewer large family firms – and fewer large companies in general.' 

So the overall message from INSEAD alumni seems to be that the Barclays -Economist report is right to 

call family businesses 'the backbone of the global economy', but that individual firms will be better placed 

to weather the economic storm only if the individuals involved know when to cede control – either to the 

next generation or to outside talent. 

Faculty research 

Let's give the last word to our very own Jean-Claude Larréché , Alfred H. Heineken Chaired Professor of 

Marketing (and also an INSEAD MBA alumnus, as it happens). His recent bestseller The Momentum 

Effect isn't about family business specifically, but it turns out that, out of the 20 companies cited in his 

book as momentum-powered firms, at least seven of them are classified by Family Business magazine as

family enterprises in some sense: BMW, Enterprise Rent -A-Car, IKEA, Swatch, Tetra Pak, Toyota and Wal- 

Mart. And others, such as Johnson & Johnson have their roots in family. 

So, is there a link between family firm and the kind of dynamic, sustainable growth described in the book? 

'It's clear that the momentum effect has to start somewhere,' says Professor Larreche. 'And the added 

dimensions of kinship and legacy found in family firms can give not simply the initial impetus that the 

momentum effect requires, but also the motivation to keep it going for decade after profitable decade.' 

All the alumni who feature in this article contributed to the most recent edition of the WICFE 

e-newsletter. If you're not already on the mailing list for the newsletter (published three times a year) 

and would like to receive it – or to find out more about the FAME programme – contact Nathalie and 

Véronique, WICFE's co -ordinators, at family-firms.fb@insead.edu.

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