Thought Leadership Meets Business : How Business Schools Can Become More Successful

For leading corporations, talent is perhaps the only truly sustainable competitive advantage. In light of this, leading international corporations need to be staffed by the best possible executive talent from around the world. This talent revolution places a burden on business schools to offer highly focused learning, based on practical research. In addition, business schools face fierce competition in this sector, not least from the rapid growth in management education in India and South East Asia. Thought Leadership Meets Business, first published in 2008, offers significant insights into the factors that have led to the delivery of high-quality executive education at the top-ranking International Institute for Management Development (IMD). Drawing on the experience and wisdom gained by IMD President Peter Lorange over a distinguished career of more than twenty years, this book offers a powerful model for business school success. Cover......Page 1 Half-title......Page 5 Title......Page 7 Copyright......Page 8 Contents......Page 9 Figures......Page 10 Tables......Page 11 Foreword......Page 13 Preface......Page 15 Book outline......Page 19 Acknowledgments......Page 20 Introduction......Page 23 Conceptual framework: creating academic value......Page 26 A brief history......Page 31 The tradition......Page 32 The modern business school......Page 33 Freestanding or not......Page 38 Size......Page 39 Academic conventions......Page 40 Change is inevitable......Page 43 Implications for business schools......Page 48 Key points......Page 54 Introduction......Page 55 Open-enrollment programs......Page 58 In-company programs......Page 63 New actors......Page 65 Mba degree programs......Page 68 Imd’s learning network......Page 72 Executive coaching......Page 75 Implications for business schools......Page 83 Key points......Page 90 Introduction......Page 91 Creating an environment for thought leadership......Page 93 The importance of experimentation......Page 95 Alternative channels for rapid dissemination......Page 96 Investing in research......Page 99 Teaching and research......Page 101 Implications for business schools......Page 105 Key points......Page 112 Introduction......Page 113 Five simple strategic propositions to guide marketing......Page 114 Relationship marketing......Page 117 Value-based activities......Page 119 The marketing challenge for new value-added services......Page 122 Marketing in the face of competition......Page 125 Role of the brand......Page 126 Internet marketing......Page 128 Word of mouth......Page 131 Implications for business schools......Page 132 Introduction......Page 140 Change drives learning......Page 141 The faculty member as learner......Page 142 Discipline-based institutional learning......Page 144 Focus on learning partners for institutional learning......Page 146 Implications for business schools......Page 153 Key points......Page 159 Introduction......Page 160 Faculty involvement......Page 161 Research......Page 163 Teaching......Page 165 Citizenship......Page 166 Hiring and promotion......Page 168 Fragmentation of academic value-creating tasks......Page 170 Implications for business schools......Page 172 Key points......Page 184 Introduction......Page 186 Partnerships: what can – and should – leading firms do?......Page 187 Individual development needs......Page 188 Implementing strategic change......Page 189 The corporate university – developing a corporate culture......Page 190 The role of the chief learning officer (clo)......Page 193 “Cherry picking” and procuring outside learning services......Page 194 A.P. Moller-Maersk......Page 197 Nestlé......Page 198 Incremental research is key......Page 199 Implications for learning partners......Page 201 Key points......Page 204 Introduction......Page 205 What is a business school leader?......Page 206 The argument for a freestanding business school......Page 209 The foundation of successful leadership – discretionary resources......Page 212 Leadership task no. 1: See new opportunities before everyone else......Page 214 Leadership task no. 2: Identify and mobilize the relevant resources......Page 218 Leadership task no. 3: Be an inspirational leader......Page 220 The role of the board......Page 221 Choice of the business school leader......Page 222 Implications for business schools......Page 227 Key points......Page 229 Culture, reputation, rankings and strategic choices......Page 230 Market acceptance of imd’s services......Page 234 Entrepreneurial leadership......Page 235 Focused strategy......Page 237 World-class faculty......Page 238 Top-quality campus and learning facilities......Page 239 The secrets of imd’s success......Page 241 Appendix I......Page 244 Publications authored by Peter Lorange:......Page 247 Index......Page 252 Cover 1 Half-title 5 Title 7 Copyright 8 Contents 9 Figures 10 Tables 11 Foreword 13 Preface 15 Book outline 19 Acknowledgments 20 1 Background and conceptual framework 23 Key points 23 Introduction 23 Conceptual framework: creating academic value 26 A brief history 31 The tradition 32 The modern business school 33 Not all business schools are the same 38 Freestanding or not 38 Size 39 Technological links 40 Academic conventions 40 Change is inevitable 43 Implications for business schools 48 2 Key academic programs and academic value-creation 54 Key points 54 Introduction 55 Open-enrollment programs 58 In-company programs 63 New actors 65 Mba degree programs 68 Imd’s learning network 72 Executive coaching 75 Implications for business schools 83 3 The critical role of R&D 90 Key points 90 Introduction 91 Creating an environment for thought leadership 93 The importance of experimentation 95 Alternative channels for rapid dissemination 96 Investing in research 99 Teaching and research 101 Implications for business schools 105 4 Marketing strategy 112 Key points 112 Introduction 113 Five simple strategic propositions to guide marketing 114 Collaborative vs. transactional relationships 117 Relationship marketing 117 Value-based activities 119 The marketing challenge for new value-added services 122 Marketing in the face of competition 125 Role of the brand 126 Internet marketing 128 Word of mouth 131 Implications for business schools 132 5 Institutional learning 140 Key points 140 Introduction 140 Change drives learning 141 The faculty member as learner 142 Discipline-based institutional learning 144 Focus on learning partners for institutional learning 146 Process development as institutional learning 153 Implications for business schools 153 6 Human resources strategy 159 Key points 159 Introduction 160 Faculty involvement 161 Linking the hr strategy to the overall strategy 163 Research 163 Teaching 165 Citizenship 166 Hiring and promotion 168 Initial career choice for a faculty member starting out 170 Fragmentation of academic value-creating tasks 170 Implications for business schools 172 7 The learning partner perspective 184 Key points 184 Introduction 186 Partnerships: what can – and should – leading firms do? 187 Learning on the job 188 Individual development needs 188 Implementing strategic change 189 The corporate university – developing a corporate culture 190 The role of the corporate human resources function 193 The role of the chief learning officer (clo) 193 “Cherry picking” and procuring outside learning services 194 Smart companies do both – open enrollment and in-company programs 197 A.P. Moller-Maersk 197 Nestlé 198 Incremental research is key 199 Implications for learning partners 201 8 Business school leadership issues 204 Key points 204 Introduction 205 What is a business school leader? 206 The argument for a freestanding business school 209 The foundation of successful leadership – discretionary resources 212 Leadership task no. 1: See new opportunities before everyone else 214 Leadership task no. 2: Identify and mobilize the relevant resources 218 Leadership task no. 3: Be an inspirational leader 220 The role of the board 221 Choice of the business school leader 222 Implications for business schools 227 9 Conclusion: So, what are the key success factors? 229 Key points 229 Culture, reputation, rankings and strategic choices 230 Market acceptance of imd’s services 234 Entrepreneurial leadership 235 Focused strategy 237 World-class faculty 238 World-class participants 239 Top-quality campus and learning facilities 239 The secrets of imd’s success 241 Appendix I 244 Appendix II 247 Core references 247 Publications authored by Peter Lorange: 247 Index 252 For Leading Corporations, Talent Is Perhaps The Only Truly Sustainable Competitive Advantage. In Light Of This, Leading International Corporations Need To Be Staffed By The Best Possible Executive Talent From Around The World. This Talent Revolution Places A Burden On Business Schools To Offer Highly Focused Learning, Based On Current And Practical Research. In Addition, Business Schools Face Fierce Competition In This Sector, Not Least From The Rapid Growth In Management Education In India And South-east Asia. Thought Leadership Meets Business Offers Significant New Insights Into The Factors That Have Led To The Delivery Of High-quality Executive Education At The Top-ranking International Institute For Management Development (imd). Drawing On The Experience And Wisdom Gained By Imd President Peter Lorange Over A Distinguished Career Of More Than Twenty Years, This Book Offers A Powerful Model For Business School Success.--book Jacket. Background And Conceptual Framework -- Key Academic Programs And Academic Value-creation -- The Critical Role Of R&d -- Marketing Strategy -- Institutional Learning -- Human Resources Strategy -- The Learning Partner Perspective -- Business School Leadership Issues -- Conclusion: So, What Are The Key Success Factors? Peter Lorange. Includes Bibliographical References And Index. "For leading corporations, talent is perhaps the only truly sustainable competitive advantage. In light of this, leading international corporations need to be staffed by the best possible executive talent from around the world. This talent revolution places a burden on business schools to offer highly focused learning, based on current and practical research. In addition, business schools face fierce competition in this sector, not least from the rapid growth in management education in India and South-East Asia. Thought Leadership Meets Business offers significant new insights into the factors that have led to the delivery of high-quality executive education at the top-ranking International Institute for Management Development (IMD). Drawing on the experience and wisdom gained by IMD President Peter Lorange over a distinguished career of more than twenty years, this book offers a powerful model for business school success"--Page 4 of cover "For leading corporations, talent is perhaps the only truly sustainable competitive advantage. In light of this, leading international corporations need to be staffed by the best possible executive talent from around the world. This talent revolution places a burden on business schools to offer highly focused learning, based on current and practical research. In addition, business schools face fierce competition in this sector from corporate universities and Asian management education institutions. Thought Leadership Meets Business offers significant new insights into the factors that have led to the delivery of high-quality executive education at the top-ranking IMD. Drawing on the experience and wisdom gained by IMD President Peter Lorange over a distinguished career of more than thirty years, this book offers a powerful model for business school success."--Publisher's description "For leading corporations, talent is perhaps the only truly sustainable competitive advantage. In light of this, leading international corporations need to be staffed by the best possible executive talent from around the world. This talent revolution places a burden on business schools to offer highly focused learning, based on current and practical research. In addition, business schools face fierce competition in this sector from corporate universities and Asian management education institutions. Thought Leadership Meets Business offers significant new insights into the factors that have led to the delivery of high-quality executive education at the top-ranking IMD. Drawing on the experience and wisdom gained by IMD President Peter Lorange over a distinguished career of more than thirty years, this book offers a powerful model for business school success."-- Résumé de l'éditeur Drawing on the experience and wisdom gained by IMD President Peter Lorange over a distinguished career, this book offers significant insights into the factors that have led to the delivery of high-quality executive education at the International Institute for Management Development (IMD).