Annual Report

AlumniIESE

2004-2005

IESE Alumni Association

Annual Report2004-2005

IESE Alumni Association

The growth of our Association is explained, in

great part, by the way in which our alma mater

IESE has itself developed, together with the

continuous education programs offered to all

Members and the constant stream of new ideas

flowing from the faculty’s research.

Through its activities, the IESE Alumni Association

offers Members the chance to meet up with other

Alumni who share our desire to become better

managers and build better companies that will

make a greater contribution to the society in

which we live.

The growth of our Association is strengthened

by the Regional Alumni Chapters that now extend

to the farthest corners of the world. The

objectives we share are leading to ever greater

achievements.

For this reason, therefore, we have chosen the

strength of the tree as the theme for our Annual

Report.

List of Contents

6 Mission and Aims

8 An International Community of Alumni

14 Continuous Education

28 Career Development Services

34 IESE, Our School

38 Governing Bodies

42 Financial Report

44 The Alumni Office

46 IESE Alumni Association Services

www.iese.edu/alumni

Missionand Aims

IESE’s Alumni Association was formed in 1959 at the end

of the first PADE Program. Its mission was, and remains, to

promote continuous education for employers and managers

who have taken part in one of IESE’s main programs, and

to stimulate contact between the Members themselves and

between Members and IESE.

The Association’s Aims

The aims of the Association are as follows:

• To support IESE in its efforts to help companies improve, in the service of people

and society, through educational and research initiatives

• To encourage professional and social relationships among IESE Alumni

• To maintain and foster all Alumni’s relationships and collaboration with IESE as

it strives to achieve its educational, social and research objectives

• To increase awareness of IESE and its activities

The Association’s bylaws encompass this steadfast goal in the mission and purposes

that guide us. You can request a copy of the bylaws from the Association’s office.

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“During my years as President of the

Association, I have been privileged

to see the growing international

nature of IESE’s Alumni and faculty

community.

The activities of our Association are

strengthened year on year and

spread ever wider thanks to the

support of its many Members, who

act as real ambassadors for IESE in

the business world. The

Association’s Executive Committee

is constantly working to foster and

develop professional relationships

between Members and to guarantee

their continuing education, with

immeasurable support from IESE’s

faculty.

Our time at IESE represented a

turning point for many of us in both

our professional careers and our

personal lives. The Association’s

mission and objectives cannot be

understood without bearing this in

mind. As its President, I am sincerely

grateful to all Members for

supporting this mission.”

José Martínez-Rovira (PADE´84)

President of the Alumni Association

November 1999 - November 2005

AnInternationalCommunityof Alumni

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The IESE Alumni community reflects the growing

internationalization of the school’s programs. The

Association has continually worked to shorten the distances

between Alumni, offering them educational opportunities

wherever they might be in the world.

Membership

The profile of IESE Alumni is becoming increasingly diverse. The high proportion

of non-Spanish students on the full-time MBA Program (70%), along with the

establishment of the school’s International Executive Education Programs (AMP

Brazil, AMP Munich, AMP Barcelona and PMD Madrid), have meant that the Alumni

Association has become an increasingly global entity. IESE Alumni currently include

88 different nationalities and work in 94 countries

By the end of the 2004-2005 academic year, 26,988 people had graduated from

IESE. The Alumni Association currently has 23 Alumni Chapters and 10,525 members,

and an average of 72% of all new graduates become members.

1,325 new members joined the Association during the 2004-2005 academic year.

Alumni Chapters*

Data from Alumni with whom we are in touch (excludes members

for whom we have no address or who have died).

* Chapters listed by number of Alumni.

No. of Alumni

SPAIN 21,619

Catalonia and the Balearic Islands

Madrid

Navarra, Basque Country, La Rioja

Levante

Aragon

Andalusia

Galicia

EUROPE 1,374

United Kingdom

Eastern Europe

Germany

Benelux

Scandinavia

France

Italy

Poland

LATIN AMERICA 747

Chile

Brazil

Mexico

Argentina - Uruguay

Colombia

Peru

USA - CANADA 319

JAPAN 28

REST OF THE WORLD 248

TOTAL 24,335

Participation in activities organized by the Association

Attendance

Continuous Education Program 15,495

Class Reunions 2,079

Alumni Chapter Meetings 1,057

MBA Alumni Reunion 708

Other activities 133

TOTAL 19,472

Networking

The Association encourages the

creation of activities and tools that

facilitate contact among Alumni. New

technologies are continuously being

employed to shorten distances and

support relationships. Yet technology

can never replace the kind of personal

contact that forges friendships, and

class reunions are organized at IESE’s

different campuses in order to

strengthen these ties. Away from IESE,

Alumni also work closely together

through their Regional Alumni

Chapters.

Directory

The directory is a tool that supports

professional and personal

relationships between colleagues as

the years go by. It can be permanently

accessed via the Internet and is

updated with the latest information

available to IESE. It is currently

possible to consult information about

19,606 of the school’s Alumni who have

expressly given their permission for

their details to be included, in

accordance with current legislation.

E-mail Service

All IESE Alumni are provided with a permanent e-mail address on request. This

can be redirected to any external e-mail account.

IESE Members can also request an e-mail service that can be accessed via any

Internet navigation program. In-box capacity has been increased this year from

20 to 225 megabytes.

Global Campus

This technological platform is a virtual meeting place for IESE Alumni. It includes

discussion forums and areas in which information and images can be shared and

exchanged.

The global campus has included new and improved features over the last year,

positioning it as a learning environment –supported by faculty– for IESE students.

Class Reunions

The Association provides support for representatives of each graduated class for

organizing reunions with their class colleagues. Most reunions include the

participation of a member of IESE’s faculty, who accompanies graduates on their

“return to the classroom.” During the past academic year, a total of 2,079 Alumni

attended 71 reunions. The Association also facilitated 26 off-campus meetings.

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Class President Professors

EMBA 90 Gustavo Franchela Rafael Termes

EMBA 95 Adolfo Fernández-Valmayor Santiago Álvarez de Mon

EMBA 98 Juan Miguel Poyatos Miguel A. Hernández

EMBA 02 Ricardo Lobera Luis Manuel Calleja

EMBA 03 Adolfo Valderas Pablo Fernández

EMBA 04 Diego Fontán Pedro Videla

MBA 80 Manuel Aparicio Jordi Canals / Juan Carlos Vázquez-Dodero

MBA 85 Jorge Lucaya during MBA Alumni Reunion

MBA 89 Eduardo Martínez Jordi Canals / José Mª Rodríguez

MBA 90 Jorge Morcego during MBA Alumni Reunion

MBA 94 Gonzalo García San Miguel Santiago Álvarez de Mon

MBA 95 Mª Ángeles Losa during MBA Alumni Reunion

MBA 00 Juan Canales Jaume Ribera

MBA 04 Timo Büterflish during MBA Alumni Reunion

PADE’s 59 and 60** Casimiro Molins / Eduardo Tarragona Fernando Pereira

PADE II 76 José Moreno Félix Huerta

PADE II 93 Aurelio Alonso Eduard Ballarín

PADE I 99 Antonio Marsal Josep Tàpies

PADE I 00 Victoria Ribas Josep Tàpies

PADE I 01 Mª del Mar Raventós Manuel Velilla

PADE 1 02 Francesc Cruellas Joan E. Ricart

PADE A 02 Manuel Benegas Santiago Álvarez de Mon

PADE 1 03 Marta Pou Josep Tàpies

PADE 1 04 Carlos Torres Josep Tàpies

PADE A 04 Carlos López Barrio Juan Roure

PDD I 89 José Mª Perramón Lluís G. Renart

PDD I 98 Susana Calvo Antonio Dávila

PDD V 98 Antonio Bernal Luis Mª Huete

PDD III 94 Mª Dolores Sanvisens Nuria Chinchilla

PDD 2 00 Joan Cols Frederic Sabrià

PDD 4 01 Antoni Fuster Vicente Font

PDD 1 02 Cristina Taverner Alfredo Pastor

PDD 2 02 Manuel Sala Joaquim Vilà

PDD 3 02 Xavier López-Sautés Josep Tàpies

PDD A 02 Josep M. Mas Sandalio Gómez

PDD B 02 Diego Garrido Javier Quintanilla / Ricardo Lobera

PDD D 02 Fernando López Bris Luis Manuel Calleja

PDD 1 03 Joan Carles Castellá Pablo Cardona

PDD 3 03 Xavier Bover Jaume Ribera

PDD 5 03** Jordi Cumellas Pedro Videla / Frederic Sabrià

PDD A 03 Alfonso del Gallo Luis Palencia

PDD B 03 Mar de Ojeda José Ramón Pin

PDD 1 04** Pere García Hom Frederic Sabrià / Carlos García Pont

PDD 2 04** Joaquim Bretja Rama Velamuri / Julián Villanueva

PDD 3 04** Antoni Olivé Jordi Gual / Alberto Fernández Terricabras

PDD 4 04 Pere Armora Marc Sachon

PDD A 04** Pablo Gómez-Acebo Javier Quintanilla / Luis Manuel Calleja

PDD C 04** José Ángel Garcés Luis Manuel Calleja / Santiago Álvarez de Mon

PDD 1 05 Joaquim Arpí Alejandro Lago

PDG I 79 Andrés Cabré Lluís G. Renart

PDG I 83 Josep Bové Antonio Argandoña / Carlos Sánchez-Runde

PDG 1 03 José Mª Vilalta Pablo Cardona

PDG A 03 Luis Arias Santiago Álvarez de Mon

PDG B 03 Marta Umpierre Pablo Fernández

PDG 2 04 Ferrán Gatius Pedro Videla

PDG A 04** Francisco García Rubio Pablo Fernández / Santiago Álvarez de Mon

PDG B 04 Sonia Pascual Santiago Álvarez de Mon

*These sessions with professors took place at IESE's campuses in Barcelona and Madrid. ** Two meetings.

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Class Reunions – 2004-2005 Academic Year*

Senior Members 2004-2005

Julio Acinas García PDG-III 80

Fernando Alfonso Marín PDG-I 80

Jaume Alsina Argemí PDD-I 80

Manuel Ayllón Montesinos MBA 80

José Mª Baselga Elorz PDG-III 80

Julio Benítez Mello PDG-I 80

Pablo de Bergia González PDG-II 80

Fernando Bernad Clavero PDG-I 80

Lluís Besas Camps PDD-I 80

Agustín Borrás Cortés PDG-I 80

Pedro Bosch Blasco PDG-I 80

Cipriano Briceño Viviente MBA 80

Miguel Ángel Bruned Mompeón PDG-III 80

Antonio Cabeza Gil-Casares MBA 80

José Félix Cámara Zorzano PDG-III 80

Miguel Canalejo Larraínzar PDG-III 80

Rosendo Castelló Baille PADE-I 80

Eduardo J. Celorio Carretero MBA 80

Miguel Corsini Freese PADE-II 80

José Costa Sansaloni PDD-I 80

Emilio Cunchillos Pérez PDG-III 80

Vicente Dasí Martínez del Vallejo MBA 80

Robert Debut PADE-II 80

José Ignacio Dufur Ohárriz PDG-III 80

Francesc Escoda Cugat PDG-I 80

Ricardo Falcón Vernis PDG-I 80

Joaquín José Fernández Sánchez PDG-II 80

Patricia Ferrando Elorza MBA 80

Juan José Ferrer-Bonsoms Millet MBA 80

Miguel García Vestit PDG-I 80

Ricardo García-Nieto Conde MBA 80

Joaquim Gironella Sevilla PDG-I 80

Mª Jesús Grandes Carci MBA 80

Juan Mª Hernández Puértolas PDG-I 80

José Herrero Cambero PDG-II 80

Luis Horcajuelo Larrarte MBA 80

Juan Antonio Ibiricu Arregui PDG-III 80

Josefina López Salanova PDD-I 80

Juan Lozano Muñoz MBA 80

Rosario Martín Gutiérrez de Cabiedes MBA 80

José Javier Martínez Ayanz PDG-III 80

Ángel Mateo Salvatierra MBA 80

Fernando Medina Senent MBA 80

Antonio Medrano Salas PDG-II 80

Santiago Mestre Rojo PADE-I 80

Fernando Molina Stranz MBA 80

Juan Mollet Gibert PADE-I 80

Pedro Monzó Casinos MBA 80

Enrique Morera Guajardo MBA 80

Manuel Munné Mer PDG-I 80

Pedro Navajas Criado MBA 80

Manuel Ortuño Fabado PADE-II 80

José Javier Parra Campos MBA 80

Camilo Pereira Pérez MBA 80

Rafael del Pozo García PDD-II 80

Jorge Puig Gómez MBA 80

Esteban Puig Montanya PDG-III 80

Adolfo Rivas Romero-Valdespino MBA 80

Enrique Rodríguez y Rodríguez-Vila MBA 80

Mª del Carmen Rossinés García PDD-I 80

Pedro Rovira Solé PDG-I 80

Luis Gonzaga Rullán Colom MBA 80

Antonio Sala Martí MBA 80

Casimiro Sala Trullols PDG-I 80

Antonio Sánchez Uroz PDD-I 80

José Antonio Segarra Torres MBA 80

Antonio Serra Oliver MBA 80

Julio-José Sopena Lalaguna PADE-I 80

Jordi Sust Fatjó PDD-I 80

José León Taberna Ruiz PDG-III 80

José Luis Torres Borea PDG-III 80

José Tramuns Domènech PDG-I 80

Víctor Ramón Tresserras Torre MBA 80

Luis Trincado Boville PDD-II 80

José Mª Vila Alemany PDD-I 80

Jesús Zabalo Zabalegui PDG-III 80

José Julio Zatón Salazar MBA 80

Ramón Zorrilla Zorrilla PADE-II 80

Senior Members

Members have shown unwavering

loyalty to the Association over the

years. To show its gratitude, the

Association pays tribute to Alumni who

have been members for 25 years,

presenting them with a

commemorative award in a special

ceremony.

78 members received this distinction

during the 2004-2005 academic year,

bringing the total number of Senior

Members to 1,053.

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ContinuousEducation

Providing lifelong learning for IESE Alumni is one of the

Association’s main purposes, and one of the key reasons

that new graduates become members.

Continuous Education Program

The aim of the Continuous Education Program is to provide Members with learning

opportunities in all areas of business management, inform them of new

developments and respond to their concerns regarding the challenges that form

part of company life.

The program was designed by IESE in 1959 addressed to Members of the Alumni

Association. The program takes a humanistic and rigorous academic approach,

while touching upon all areas of international business management.

The program’s presence has extended to many different countries around the

world, with the support and encouragement of Alumni Chapters. During the 2004-

2005 academic year, 45 sessions were offered outside Spain, in 18 different

countries.

The Association would like to pay special thanks to the school’s faculty, who have

unselfishly contributed to the quality and rigor of the program. During the course

of the last year, 89 professors participated in some 172 sessions that were attended

by 15,495 people, an increase of 9.4% over the previous year.

Attendance at Continuous

Education Sessions, by Chapters

Chapter Sessions Attendance

In Spain 127 13,932

Barcelona 51 6,712

Madrid 47 5,148

Levante 13 835

Navarra, Basque Country,

La Rioja 7 473

Aragon 6 681

Galicia 3 83

Outside Spain 45 1,563

United Kingdom 5 211

USA - Canada 5 162

Benelux 4 101

Brazil 4 55

Germany 3 143

China 3 132

Japan 3 130

Scandinavia 3 47

Chile 2 198

France 2 65

Mexico 2 75

Argentina - Uruguay 2 42

Italy 2 36

Austria 1 60

Poland 1 41

Switzerland 1 31

Peru 1 25

Colombia 1 9

TOTAL 172 15,495

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Control and Decision Analysis

• The Perception of Consequences Over Time When planning and Making

Decisions. Prof. Manel Baucells

• Sports Company Management: Similarities and Differences with Other

Businesses. Prof. George Foster, Paul L., Phyllis Wattis Professor of

Management and Director of the Executive Program for Growing

Companies, Stanford University, and Prof. Antonio Dávila

• Basic Aspects of Investment Analysis. Prof. Luis Palencia

• Valuation Based on Book Profit Discounting. Prof. Luis Palencia

General Management

• Contractual Aspects of Strategic Alliances (I). Prof. África Ariño

• Contractual Aspects of Strategic Alliances (II). Carlos Bas, Associate of

Freshfields Bruckhaus Deringer, Antonio Valverde, International Partner

of Freshfields Bruckhaus Deringer, and Prof. África Ariño

• Innovation and Leadership. Prof. Carlos Cavallé

• The Responsibilities of Administrators and Managers. Joaquín de Fuentes,

State Attorney; Antonio Brufau, Executive President, Repsol YPF, and

Vice President, Gas Natural Group; Prof. José Esteve, Chair of

Administrative Law, University of Barcelona; José Manuel Lara, President,

Planeta and Antena 3TV Group; Prof. Enrique Morera and Prof. Josep

Tàpies, General Management and Financial Management. Holder of

Family Businesses Chair, IESE

• The Approach of Companies Recognized for Innovation Practices.

Prof. Joaquim Vilà

• Taking Management Decisions. Prof. Miguel Ángel Ariño

• Relocation: A Strategic Approach. Profs. Eduard Ballarín and Antoni Subirà

• Corporate Governance: Evaluating the Board of Directors. Luis Ferrándiz,

Managing Partner, Spencer Stuart Management Consultants, and

Prof. José Manuel Campa

• The Future of Work: Where are Our Organizations, Our management

Styles and Our Lives Leading Us?. Patrick J. McGovern Professor of

Information Systems, MIT Sloan School of Management, Founder and

Director, MIT Center for Coordination Science, and Profs. Brian Subirana

and Thomas W. Malone

People in Organizations

• Payment Transparency: if Salaries were not Kept Secret.

Prof. Javier Quintanilla

• Managing People in the New Economy. Lourdes Susaeta, Research

Assistant, and Prof. José Ramón Pin

• One of the Dilemmas Faced by Globalized Companies: Centralized or

Decentralized Organization? Towards the Creation of Service Centers.

Prof. Sandalio Gómez

Financial and Taxation

• End of the 2004 Fiscal Year 2004. Enrique Chinchilla, Research Assistant

• Individual Income Tax (IRPF) 2004. Enrique Chinchilla, Research Assistant

• Profitability, Risk and Performance in Emerging Markets 1988-2004.

Prof. Javier Estrada

• Ten Essential Points for Business Banking Negotiations. Prof. Jordi Soley

• The Current Situation in the Stock Markets and Prospects for 2005.

Prof. Mariano Rabadán

• An Economic and Financial Analysis of Spanish Business.

Prof. Rafael Termes

• How to Prevent Crises in Small- and Medium-sized companies. Ángel

Martín; Florian M. Mück, Managing Partner, KMPG; Profs. Ahmad Rahnema

and Heinrich von Liechtenstein

Economics

• Prospects for the International Economy. Prof. Alfredo Pastor

• Prospects for the Economy in 2005. Prof. Antonio Argandoña

• Prospects for the Economy in 2005. Prof. Juan José Toribio

• Prospects for the International Economy. Prof. Pedro Videla

• Economy Day. Prospects for the Economy in 2005. David Vegara,

Secretary of State for the Economy, Profs. Antonio Argandoña and

Jordi Gual

Family Business

• Asset Liquidity and the Valuation of Shares in Family Business.

Prof. Josep Tàpies

• The Terms ‘Family Business’ and ‘Small- and Medium-Sized Business

(PYME)’ are not Synonymous. The Creation of Growth in Family Business.

Prof. Josep Tàpies

• The Role of the Independent Board Member in Family Business.

Prof. Miguel Ángel Gallo

Business Ethics

• Corporate Social Activities: How do you Invest in Solidarity? Marta Cairó,

Coordinator, Co-Financing Area, Dept. of Marketing and Communications

for Help in Action; Marta Sànchez, Technical Specialist for the Barcelona

Association for the Development of Social Action; Silvia Vílchez, Director

of Corporate Relations at MRW, and Prof. Joan Fontrodona

Europe

• Fiscal Policies within the Framework of Economic and Monetary Union.

José Manuel González-Páramo, Member of the European Central Bank’s

Executive Committee; Chaired by Prof. Jordi Gual

Continuous Education Program Topics, 2004-2005

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• Europe’s role in the world post the European Constitution. Javier Solana,

Secretary General of the Council of Europe and High Representative for the

Common Foreign and Security Policy (CFSP). Chaired by Prof. Jordi Canals

• The European Union Following Enlargement: The Challenge of the

Constitution. Alberto Navarro, Secretary of State for the European Union,

and Prof. Jordi Gual

• Competition within the new European Information Framework. Prof. Juan

Manuel de Toro, Member of the Academic Board of the CIEC (International

Centre for Communications Companies); Dr. Alfonso Sánchez, Dean of

the Communications Faculty, University of Navarra, Member of the

Academic Board of the CIEC, and Dr. Herbert Ungerer, Director General

of the Media Department at the European Commission’s General

Competition Directorate

Entrepreneurial Initiative

• Entrepreneurship through Acquisitions and/or Buyouts. Pedro de Esteban,

Managing Director Europe, The Carlyle Group; Emilio Goyanes, Director

of Corporate Development, Saprogal, S.A.; Antonio Llorens, Managing

Director of SERUNION, and Prof. Juan Roure

• The Role of Business Angels: The Experience of IESE’s Business Angels

network. Xavier Arquerons and Ricart Sóderberg, Members of IESE’s

Business Angels Network, and Prof. Juan Roure

• Biotechnology for business angels: exploring opportunities. Fernando

Garcés, Director General, Fundación Genoma España, and

Prof. Juan Roure

• Investing in Entrepreneurs. Experiences at FINAVES. Prof. Pedro Nueno

• “Inclusive” Business Initiatives: Creating New Business Models.

Prof. Johanna Mair

Sales Management and Marketing

• Professionalizing our Sales Organizations: 30 Keys to Achieving Excellence.

Prof. Cosimo Chiesa

• The Long-term Effects of Sales Decisions. Prof. Julián Villanueva

• Diversification: Case Relating to the Redesign of a Sales Plan.

Prof. Vicente Font

• Sales Programs for Large Customers: Some Practical Examples. Pedro

Soria, (EMBA 92), Vice President and Partner, The Boston Consulting

Group; Carlos Esteve, (EMBA 92), Large Accounts Director, Microsoft,

and Prof. Victoriano Vila

• How to Improve Sales Efficiency by Auditing Distribution.

Prof. Xavier Oliver

• Two Ideas for Improving Sales Using Non-conventional Marketing and

Communications Strategies. Prof. Xavier Oliver

• The Five Pyramids of Relational Marketing. Prof. Cosimo Chiesa

Operations

• Quality: Defining It, Measuring It and Managing It. Prof. Jaume Ribera

• Demand-Based Management: From Push to Pull in the Value Chain.

Prof. Marc Sachon

Real Estate Sector

• Poland as a Target for Spanish Real Estate Investment. Radoslaw

Koszewski, Professor at the Institute of International Business, University

of Gdansk; Robert Malicki, Vice President of GGKO Ltd. (building

management company in Warsaw). Chaired by Prof. José Luis Suárez

• The State of the Real Estate Sector 2004-2005. Carmen Trilla, Director

General of Housing, Department of the Environment and Housing,

Government of Catalonia; Pedro de Churruca, Managing Director of Jones

Lang LaSalle; Luis Leirado, General manager of TINSA and President of

ATASA (Surveyors’ Association); Rafael Santamaría, President of ASPRIMA;

Enric Reyna, President of the Barcelona Association of Developers and

Constructors (APCE); Mariano Zabía, Minister for the Environment and

Land Regulation, Community of Madrid, and Prof. José Luis Suárez

• House Prices: Is There a Ceiling without a Floor? María Victoria Pinilla,

Mayor of the Municipal Corporation of La Muela; Pedro Parra, Managing

Director of GPS Gestión; Oscar Rubio, President of Centauro Viviendas,

and Prof. Lluís G. Renart

• Real Estate Investment: The Sophistication of Real Estate Investment

Vehicles at the Service of Market Growth. Pedro Ruiz-Olivares, Vice

President and Managing Director, Santander Activos Inmobiliarios; Judy

Hill, Chief Executive, INREV; Alec Emmott, Director General, Société

Foncière Lyonnaise (SFL), and Prof. José Luis Suárez

Self-management

• The Day-to-Day Duties of Managers. Prof. Esteban Masifern

• The Key to Maintaining Constructive Human Relationships.

Prof. José Mª Rodríguez

• Work and Family: Can They be Reconciled? Prof. Nuria Chinchilla

• The Art of Managing, the Adventure of Living. Benjamin Zander, Director

of the Boston Philharmonic Orchestra. Co-author with Rosamund Stone

Zander of the book “The Art of Possibility,” and Prof. Santiago

Álvarez de Mon

• How Can Leaders Learn from Mistakes Made by Managers. Prof. Sydney

Finkelstein, Steven Roth Professor of Management at the Tuck School

at Dartmouth College, University of Southern California, and

Prof. Joan Enric Ricart

• Insomnia: The Manager’s Hidden Enemy. Prof. Alexander Lyford-Pike,

Doctor in Psychiatric Medicine, Director of the Montevideo Institute of

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Psychiatry and Psychology and Visiting Professor at the Montevideo

Institute of Management Studies (IEEM), University of Montevideo,

and Prof. Joan de Dou

Information Systems

• Electronic Invoicing and Payment. Carlos Bode, General Manager of

BancSabadell Factura, S.L.U., and Prof. Javier Santomá

• The State of Information and Communications Technologies in Spanish

Business. Profs. Josep Valor and Sandra Sieber

Other Topics

• Age and Savings. The Hon. Jordi Pujol; Virgilio Oñate, President of SECOT;

Santiago Satrústegui, President of Abante Asesores, and Prof. Rafael Termes

• China: The Race to the Marketplace. Profs. Pedro Nueno, and Jonathan

Story, International Political Economy, INSEAD, Fontainebleau

• Celebration of the 10th Anniversary of CEIBS. Profs. Jordi Canals and

Pedro Nueno

• Company Insolvency and the New Bankruptcy Act. Pedro Brosa, President

of the Law Firm Brosa Abogados y Economistas; José Antonio Fernández,

Lawyer with Roca Junyent; Sebastián Sastre, Senior Professor of

Commercial Law (UB), Director of the Legal Department at “la Caixa”,

and Prof. Jordi Soley

• The Integration of Banco Atlántico at Banco Sabadell: Culture and

Operations. Josep Oliu, President of Banco SabadellAtlàntic, and

Profs. Rafael Andreu and Jordi Canals

• The Role of the United Nations in the Fight Against Terrorism. Javier

Rupérez, Executive Director of the United Nations Counter-Terrorism

Committee. Chaired by Prof. José Ramón Pin

• Fiscal and Structural Reforms in the Spanish Economy. Pedro Solbes,

Second Government Vice President and Minister for the Economy and

Taxes. Chaired by Prof. Juan José Toribio

• 12th Annual Finance Symposium, CIIF (International Centre for Financial

Research). Nicolás Bonilla, Partner, Apax Partners; Prof. José Manuel

Campa; Prof. Javier Estrada; Prof. Pablo Fernández; Mª José Lasarte,

Manager of CIIF; Prof. Josep Tàpies, and Prof. Rafael Termes

• CIMA Project. Francisco Errasti, Director General of the Centre for Applied

Medical Research (CIMA)

Inter-disciplinary Meetings

Organized by Prof. Rafael Termes

• Natural Law: A Debate That is Both Old and New. Ignacio Sánchez, Chair

of Philosophy in Law, University of Coruña; Gregorio Robles, Chair of

Philosophy in Law, University of the Balearic Islands

• The Social Responsibility of Leading by Example: politics and honesty.

Javier Gomá, Director of the Juan March Foundation, National Essay Prize

2004; Pablo Pérez, EU Contemporary History Chair, University of Valladolid

• Same-sex Marriage. Something that is not Natural Cannot be Enshrined

in law. José Gabaldón, President of the Spanish Family Forum, Vice

President Emeritus of the Constitutional Court; José Antonio Bermúdez

de Castro, Member of Parliament for Partido Popular

• Kyoto and Nuclear Energy. José Mª Martínez-Val, Chair of Thermotechnics,

ETSII-UPM, and President of the Scientific and Technical Committee at

EURATOM, and José Folgado, Former Secretary of State for Energy

• Rationalizing our Working Hours: A Necessary Challenge. Inmaculada

Álvarez, President of the Spanish Association Businesswomen in Madrid;

Ignacio Buqueras, President of the National Commission for the

Rationalization of Spanish Working Hours and their Normalization with

other EU Countries; Prof. Julio Iglesias de Ussel, Sociology Chair,

University of Granada, Member Elect of the Royal Academy of Moral

and Political Sciences, and Consuelo León, Researcher, International

Center of Work and Family, IESE

• Spain: A Secular State? The extent of religious freedom. Prof. Andrés

Ollero, Chair of Philosophy in Law, Rey Juan Carlos University, Madrid,

Former Member of Parliament for the PP; Prof. Javier Paniagua, Director

of the Tomás Valiente Centre, UNED, Valencia, and former Member of

Parliament for the PSOE

• The Future: Large or Small Companies? Prof. Josep Riverola and

Prof. José Antonio Segarra

• Corporate Social Responsibility in Companies: Ethics or Aesthetics?

Prof. Pedro Schwartz, Economics Chair, University of San Pablo CEU,

and Prof. José Ramón Pin

• The Succession to John Paul II: The Conclave. Prof. Rafael Navarro-Valls,

Senior Professor at the Universidad Complutense de Madrid, Secretary

General of the Royal Academy of Jurisprudence and Legislation;

Prof. Alberto de la Hera, Chair of Church History at the Universidad

Complutense de Madrid, Former Director General of Religious Affairs

at the Ministry of Justice

• The Biological Frontiers of the Mind: Contemporary Neuroscience and

Man’s Image. Prof. José Manuel Giménez Amaya, Chair of Anatomy and

Embryology at U.A.M.; Prof. José Ignacio Murillo, Professor of

Anthropology at the University of Navarra

Development of Professional and Personal Careers

• Coaching in the Development of Competencies. Prof. Pablo Cardona

• Business Scenarios 2025: Long-term Business and Professional Planning.

Prof. Mike Rosenberg

• How to be a Family-Responsible Business: Luxury or Necessity?

Profs. Nuria Chinchilla and Steven Poelmans

Competing with Business Models Series

• Competing using Business Models (I), (II) and (III). Profs. Joan Enric

Ricart, Ramón Casadesus-Masanell and Bruno Cassiman

18

19

E-conferences

Advances in technology have meant that the number of meetings attended by

Members has greatly increased, and barriers of both time and space have been

overcome. 20 sessions have been offered over the course of the academic year

using our new webcasting platform that allows for each session to be rebroadcast

in a high quality format.

IESE Global AlumniReunion

The 2004 Global Alumni Reunion was

moved forward to May so Alumni could

also visit Barcelona’s Forum of

Cultures, held during the summer

months.

The reunion brought IESE alumni

together for a conference that included

outstanding academic experts, CEOs

and government leaders. This annual

event offers Alumni a unique

opportunity to stay abreast of

developments at the school, a chance

to meet new members of faculty and

renew friendships with colleagues.

During the course of the last year, the

committee has been organizing the

44th Annual Global Alumni Reunion,

which will be held in Madrid on

November 11, 2005.

• Corporate Governance: Evaluating the Board of Directors. Prof. José Manuel Campa and

Luis Ferrándiz

• One of the Dilemmas Faced by Globalized Companies: Centralized or Decentralized Organization?

Towards the Creation of Service Centers. Prof. Sandalio Gómez

• “Inclusive” Business Initiatives: Creating New Business Models. Prof. Johanna Mair

• Superpower & Borrowed Money. Prof. Alfredo Pastor and Martin Wolf, Financial Times

• Why Smart Executives Fail? Profs. Joan Enric Ricart and Sydney Finkelstein

• China: The Race to the Marketplace. Profs. Pedro Nueno and Jonathan Story

• The Key to Maintaining Constructive Human Relationships. Prof. José Mª Rodríguez

• How to Implement and Manage Radical Changes in a Company. Profs. José Ramón Pin and

Frederic Sabrià

• Management and Values in the Globalization Era. Prof. Antonio Argandoña

• Economic Growth and Demographics: Long-Term Trends. Prof. Pedro Videla

• Effective Networking: Where Will My Career Be in 2024? Prof. Mike Rosenberg

• Technology and International Strategy. Prof. Jeff Sampler

• Getting Global Strategy Right. Prof. Pankaj Ghemawat, Harvard Business School

• Strategic Challenges for International Companies. Nicholas Shreiber, President, Tetra Pak

International

• Strategic Challenges for International Companies. Prof. Pedro Nueno

• The International Strategy of a Global Brand. Franck Riboud, President and Managing Director,

Danone Group

• IESE's Global Reach. Prof. Jordi Canals

• 11th Annual Finance Symposium, CIIF (International Centre for Financial Research). Profs. Pablo

Fernández and Eduard Ballarín

• Revenue Management, Yield Management – Obtaining the best margin from capacity.

Prof. Jaume Ribera

• Professionalizing our Sales Organizations: 30 Keys to Achieving Excellence. Prof. Cosimo Chiesa

20

MBA Alumni Reunion

The celebration of the 40th

anniversary of the MBA Program gave

this year’s MBA Alumni Reunion a

particularly festive feel, and a large

number of Alumni traveled to IESE to

join in the celebrations.

More than 700 people from a large

number of countries took part in a day

of conferences and reunions. Pedro

Videla was the event’s academic

director.

Martin Wolf, Associate Editor and Chief

Economics Commentator of the

Financial Times, shared his interesting

ideas about the future of the European

economy in relation to the United

States. MBA’s were able to choose

from more than a dozen parallel

conferences that ended with an

intimate general session that brought

together five distinguished directors

of the MBA Program: Professors Carlos

Cavallé, Eduardo Martínez Abascal,

Eric Weber, Antoni Subirà and MBA

Program Director, Professor Francisco

Iniesta. Together they recounted the

achievements of the MBA Program

over the course of its 40-year history.

2005 MBA Alumni Reunion Program

Welcome. José Martínez-Rovira, President,

IESE Alumni Association; Prof. Jordi Canals,

Dean of IESE; Prof. Pedro Videla, Academic

Director, IESE Global Alumni Reunion; Prof.

Francisco Iniesta, Associate Director, MBA

Program, and Maria Puig, Director, IESE

Alumni Association

Full Session

· The U.S. as Borrower of Last Resort: How

Long Can it Last? Martin Wolf, Associate

Editor and Chief Economics Commentator,

Financial Times. Chaired by Prof. Alfredo

Pastor

Parallel Sessions I

· Global Investments: Current Environment

and Perspectives. Prof. Javier Estrada and

Robert Juxon (MBA´02), Associate Director,

Barclays Private Bank

· Corporate Social Responsibility: Turning

Words into Actions. Prof. Joan Fontrodona;

Randall Krantz (MBA´02), Manager

Business Development, Intelligent Energy

Ltd., and Giulio Pediconi (MBA´02), Director,

GS Proxibérica, S.L.

· How Do You Believe the World Will Be in

2010? Prof. Pedro Nueno; Philip Alberdingk

(MBA´89), CEO, Het Financieele Dagblad &

Businessnieuws Radio; Nizar Jalbout,

(MBA´96), President, Casa Bella Collection,

S.L., and Juan Villalonga (MBA´77)

· Financing Entrepreneurs: Learning from Real

Deals. Profs. Júlia Prats and Juan Roure;

Rubén Bonet (MBA´94), Managing Director,

Fractus, S.A.; Emilio Goyanes (EMBA´91),

Director of Corporate Development,

Saprogal, S.A., and Elisa Reyna (MBA´05),

Owner, Pet à porter

· Back to the Roots – Operations at the Core

of Everything. Prof. Marc Sachon

· Customer Equity: Acquiring and Retaining

Customers and Growing the Customer Base.

Prof. Julián Villanueva

Parallel Sessions II

· Growing Through Strategic Alliances. Prof.

África Ariño and Xavier Pujol (AMP´04), CEO,

Ficosa International, S.A.

· Communication: Leadership and Character.

Prof. Brian Leggett and Anthony Salvia,

former advisor to President Reagan

· The Theory and Practice of Basic Analysis.

Prof. Luis Palencia and Francisco García

Paramés (MBA´89), Director, Bestinver

Sociedad de Valores y Bolsa, S.A.

· Quality Time. Prof. Paddy Miller; Emma Coles

(MBA´04), Operations Manager, Freeplay

Foundation, and Jolmer Schukken

(MBA´04), Relationship Manager, Global

Commodities at Fortis Bank

· The Business Climate in 2025. Prof. Mike

Rosenberg

· A Personal View on the Technologies that

Will Change the Business Landscape Over

the Next Decades. Prof. Brian Subirana

MBA Program 40th Anniversary Session. To

commemorate the 40th Anniversary of the

MBA Program, Professors Carlos Cavallé,

Antoni Subirà, José Ocáriz, Eduardo Martínez

Abascal, Eric Weber and Francisco Iniesta.

21

22

Alumni Meetings

Alumni returned to IESE to meet with

other managers and colleagues, old

and new, in order to share their

experiences and further strengthen

their friendships.

23

Alumni Chapter Meetings

Andorra

· Andorra la Vella, March 3, 2005

Welcome

Josep Peralba, Managing Director of Crèdit

Andorrà

How to Destroy Your Own Company While

Thinking You are Doing a Great Job

Prof. Josep Maria Rosanas

Argentina-Uruguay

· Buenos Aires, December 13, 2004

IESE and Business Management Education

Prof. Jordi Canals

· Buenos Aires, October 25, 2005

Work and Passion: In Search of a

Comfortable Match

Prof. Santiago Álvarez de Mon

Austria

· Vienna, May 24, 2005

China in the WTO- The Consequences for

Europe

Gerhard Falch, Chairman of VOEST-Alpine

Industrieanlagenbau GmbH; Helmut List,

Chairman and CEO of AVL List GmbH;

Prof. Alfredo Pastor; Prof. Jordi Canals;

Dr. Christian Helmenstein, Chief Economist

of IV and Dr. Michael Prüller, Die Presse

Benelux

· Hilvarenbeek, October 2, 2004

Internet, Contents, Television and Music in

the KaZaa era

Prof. Josep Valor; Joaquim Agut, President

of Endemol; Prof. Fernando Peñalva, and

Maria Puig

· The Hague, January 12, 2005

The Ups and Downs in the Life of a Chairman

Kees Storm, former Chairman of the

Executive Board of AEGON N.V.

· Brussels, January 13, 2005

Innovation: Key to Competitive Advantage?

Prof. Bruno Cassiman

· Amsterdam, May 24, 2005

An Incredible Experience: Fame and

Disgrace within an eye wink

Michiel Meurs, Former Ahold CFO

Brazil

· Sao Paulo, November 11, 2004

Wal-Mart: The Future of the Bar Code

Prof. Brian Subirana

· Sao Paulo, December 11, 2004

IESE and Business Management

Education

Prof. Jordi Canals

· Sao Paulo, June 20, 2004

Corporate Social Responsibility: Its Impact

on People and Organizations

Prof. José Ramón Pin

· Sao Paulo, September 28, 2005

The United States as the Ultimate Borrower

in the World Economy

Prof. Pedro Videla

Chile

· Santiago, October 20, 2004

Enrique Yarur, President of BCI and

President of the Regional Alumni Chapter

in Chile

· Santiago, December 10, 2004

IESE and Business Management

Education

Prof. Jordi Canals

China

· Shanghai, November 1, 2004

The Asian Onslaught: Are European Leaders

Fighting Back?

Prof. Paddy Miller

· Shanghai, July 18, 2005

China-Europe: Rivalry or Cooperation?

Prof. Alfredo Pastor

· Shanghai, September 27, 2005

Corporate Governance. Is There a Model

for China

Prof. Jordi Canals

Colombia

· Santa Fe de Bogotá, July 22, 2005

Corporate Social Responsibility: its Impact

on People and Organizations

Prof. José Ramón Pin

France

· Paris, February 28, 2005

The Business Climate in 2025

Prof. Mike Rosenberg

· Paris, May 13, 2005

Main Challenges Facing the European Union

from 2005 to 2009

Prof. Víctor Pou

Germany

· Munich, November 24, 2004

China in the WTO: Consequences for Europe

and Business Competitiveness and the Role

of Management Education: IESE´s strategy.

Profs. Jordi Canals and Alfredo Pastor

· Düsseldorf, March 8, 2005

The US Deficit, the Dollar and the World

Economy

Prof. Pedro Videla; Dr. Nicole de Haan, Chief

Economist, Bankhaus Lampe KG;

Dr. Norbert Häring, Central Bank and Currency

Editor of Handelsblatt; Alois Linder, EVP

Adhesives Division, Henkel KGaA and

President of the IESE German Alumni Chapter;

Dr. Rolf Schneider, Head of Economy,

Dresdner Bank KG

· Frankfurt, April 20, 2005

Demography and Welfare State - A European

Must!

Dr. Norbert Walter, Chief Economist of

Deutsche Bank Group; Prof. Jordi Gual; Haleh

Bridi, World Bank’s Special Representative

to EU Institutions in Brussels; Marcus Walker,

The Wall Street Journal

Italy

· Milan, May 12, 2005

Social Network: Why does it Matter for your

Company, your Career and your Life

Prof. Fabrizio Ferraro

· Milan, September 30, 2005

Slow vs. Fast Fashion With a case on Zara

Prof. José Luis Nueno

Japan

· Tokyo, November 12, 2004

BMW US Case Discussion

Prof. Kimio Kase; Haruki Katayama, President,

IESE Alumni Association Tokyo Chapter; Jesús

Córdoba, President, BMW Japan

· Tokyo, June 17, 2005

1. Nestlé in Japan

2. His personal career development

3. Rules and forces which drive career

development

4. Q and A

José Lopez, President Nestlé Japan

· Tokyo, September 26, 2005

Corporate Governance. Three Different

Approaches: Japan, Europe and USA

Prof. Jordi Canals

Mexico

· Mexico City, March 1, 2005

The New Management Environment

Prof. Juan José Toribio

· Mexico City, April 14, 2005

IESE Update

Prof. Jordi Canals

Peru

· Lima, March 31, 2005

Naturhouse

Prof. Rama Velamuri

Poland

· Warsaw, May 19, 2005

The Challenges of Management Transition

Prof. Antonio Dávila

Scandinavia

· January 21, 2005

IESE Update

Prof. Eric Weber

· Oslo, March 3, 2005

Uncertainty Wherever we Look: Solutions

Anybody?

Prof. Franz Heukamp

· Oslo, May 9, 2005

Organizational Politics and Language: Do Our

Words Predict Our Action?

Prof. Brian Leggett

Spain

· Valencia, October 26, 2004

Welcome

Víctor Martínez Galán, President of the IESE

Alumni Chapter in Levante, and Maria Puig,

Director of the Alumni Association

IESE and Business Management Education

Prof. Jordi Canals

Where in the World Should We Site That

Factory? Europe? The New Europe? China?

Prof. Pedro Nueno

Why is it so Difficult to be Ethical in Business?

Prof. Antonio Argandoña

Close

Hon. Víctor Campos Guinot, Vice President of

the Government of Valencia

· Palma de Mallorca, March 7, 2005

Diversification: Case Relating to the Redesign

of a Sales Plan

Prof. Vicente Font

24

· Pamplona, April 18, 2005

Welcome

Hon. José María Bastero, President of the

University of Navarra, and José María

Aracama, President of the IESE Alumni

Chapter in Navarra, Basque Country and La

Rioja

China: Do I Have to Go to Them? Will They

Come to Me?

Prof. Alfredo Pastor and Eduardo Morcillo,

Director of InterChina Consulting en España

Why is it So Difficult to be Ethical in Business?

Prof. Antonio Argandoña

Close

Hon. Miguel Sanz, President of the

Government of Navarra

· Zaragoza, April 20, 2005

Welcome

Joaquín Franco, President of the IESE Alumni

Chapter in Aragon, José Martínez-Rovira,

President of the IESE Alumni Association, and

Prof. Antonio Subirá

Opening

Hon. Marcelino Iglesias, President of the

Government of Aragon

International Expo, Zaragoza 2008: An

Opportunity for Aragon

Jordi Pujol, former President of the

Government of Catalonia; Manuel Olivencia,

Senior Professor at the University of Seville,

former General Director of the Seville 1992

Universal Exhibition, and Hon. Juan Alberto

Belloch, Mayor of Zaragoza

Chaired by Prof. Antoni Subirà

· Seville, June 7, 2005

Welcome

Maria Puig, Director, IESE Alumni Association

2005: The Prognosis for the Second Half of

the Year

Prof. Antonio Argandoña

Innovation and Leadership

Prof. Carlos Cavallé

· Madrid, June 10, 2005

Alumni Day at IESE in Madrid

The International Monetary Fund and Global

Stability

Rodrigo Rato, Managing Director of the

International Monetary Fund

Chaired by Prof. Juan José Toribio

Key Elements in the International Economy

Prof. Pedro Videla

Alumni Association. Tribute to Senior

Members

Antonio González Adalid, President of the

Regional Alumni Chapter in Madrid; Prof. Juan

José Toribio, Dean of IESE in Madrid, and Prof.

Sandalio Gómez, IESE Alumni Director in

Madrid

Sponsorship and Corporate Social

Responsibility

Iñaki Urdagarín, President of the NOOS

Institute

Chaired by Prof. Kimio Kase

Switzerland

· December 3, 2004

How to Cope with Wealth

Prof. Heinrich von Liechtenstein

United Kingdom

· London, January 27, 2005

Self-leadership: the Real Challenge

Prof. Santiago Álvarez de Mon

· London, February 10, 2005

Technology as Driver and Enabler of Change

Prof. Adrian Done

· London, April 14, 2005

What's Happening in the UK & Continental

Private Equity Markets

Prof. Robert Johnson; Maurice Pinto, Business

Angel Investor; Dermot Berkery, Partner, Delta

Partners; Daan Knottenbelt, Partner, Palamon

Capital Partners

· Reading, July 23, 2005

Emotional Intelligence and How it Operates

on an Individual and Organisational Basis

Prof. Brian Leggett, Fr. Dermot Tredget

· London, September 3, 2005

MBA Alumni Olympics

A New Initiative Created by Chris Daniels

(MBA´00)

USA-Canada

· New York, December 9, 2004

Orchestrating Leadership: Learning from

Conductors. A Message for Global Business?

Prof. Paddy Miller

· San Francisco, February 16, 2005

Sports Business Management: Similarities

and Differences to Management in other

Businesses

Prof. George Foster, Stanford University

· New York, April 12, 2005

US versus European Management:

Convergence or Divergence?

Prof. Jordi Canals

· Toronto, June 22, 2005

IESE Update

Prof. Jordi Canals

· Miami, September 23-24, 2005

USA-Canada Annual Alumni Reunion

Prof. Pedro Videla, Prof. Carlos Cavallé,

Prof. Eric Weber and Maria Puig

25

Continuous Education Program

172 sessions

15,495 people attending

24,335 Alumni

in 94 countries

7.4 million

Alumni

website hits

256

educational

activities

23 Alumni Chapters

10,525 Members

19,472

attending

71 Class Reunions

2,079 people attending

CareerDevelopmentServices

The IESE Alumni Association offers advice and information

to all its Members throughout their profesional lives. Interest

in this service is growing, and the Association is therefore

extending the professional services it provides in order to

broaden the support it can offer as Members review and

develop their professional careers.

Career Opportunities

The Career Opportunities service allows Members to access a private database

that lists the employment opportunities offered directly to the Association by

individual companies. During the 2004-2005 academic year, a total of 1,787 positions

were offered, an increase of 9.2% over the previous year.

Professional Career Development

The Association has launched a new career support service to help Members who

wish to make a career change in the short or medium term.

This new service provides practical and relevant information relating to planning

and looking for jobs. Resources are offered to Association Members via a restricted

area on the web site, and documents illustrating the techniques and procedures

to be followed when actively looking for work can be obtained in either printed or

electronic form.

The Association’s Office also offers an additional personalized service to members

who wish to discuss their individual situations. Last year, 96 members took

advantage of this service.

Membership Card

All Association members are given a Membership Card which accredits their status

and gives them access to a number of benefits offered by more than 70 businesses

that maintain a relationship with the Association’s members.

Members may also convert their card into a Visa Platinum or American Express

card at no extra cost, with the card account paid directly from any current account

in Spain.

Library

IESE’s library service is available to all

association members, who can borrow

books and obtain a complete

information service on any individual

business, sector or economic region

around the world. The library currently

houses around 42,000 printed books

and 4,000 electronic books,

additionally offering access to 40

databases. It also subscribes to 251

printed magazines and 3,800

electronic publications.

Use of IESE’sFacilities

IESE’s facilities are available for use

by members and their companies for

internal meetings, provided that

reservations are made in advance and

the facility required is free at the

required time. 428 meetings were held

at the school’s Barcelona and Madrid

campuses during the last academic

year.

Brief consultationwith Professors

The brief consultation service is one

of the benefits that underlines IESE’s

close relationship with association

members. The association passes on

to faculty requests from members who

wish to consult professors or seek

advice on issues of a professional

nature.

29

Publications and Research

Support for Research

With the aim of supporting the

research work carried out by IESE’s

faculty, the Association created its

Research Excellence Awards,

presented each year to three IESE

professors, in distinct areas. This year,

the jury decided to make an exception

and present four awards.

The jury is made up of members of the

Association’s Executive Committee, as

well as faculty from IESE and other

international business schools: José

Martínez-Rovira, President of the IESE

Alumni Association (Chairman); Prof.

Jordi Canals, Dean of IESE; Prof. Pankaj

Ghemawat, Harvard Business School;

Antonio González-Adalid, Vice

President of the IESE Alumni

Association; Prof. Tom Malone, MIT

Sloan School of Management; Javier

Robles, Vice President of the IESE

Alumni Association; Rafael Villaseca,

Member of the IESE Alumni

Association’s Executive Committee,

and Prof. Joan E. Ricart, Member of

IESE’s Board of Directors in charge of

Research and the Doctoral Program.

Antonio

Dávila

IESE Associate Professor in the Department

of Accounting and Control. Doctor of Business

Administration, Harvard University, Master in

Economics and Business Management, IESE,

University of Navarra. Advanced

Telecommunications Engineer, Universitat

Politècnica de Catalunya.

Prof. Antonio Dávila’s research has centered

basically around control systems in innovation

processes. His work began in the area of

product-development and went on to focus

on two complementary areas. The first is

control systems and innovation in large

companies, a subject on which he has written

some important articles, along with a book

entitled “Innovation that Works”, published

by Wharton Business School Publishing

(2006), together with Profs. Robert Shelton

and Marc Epstein. The second centers around

control systems for young innovative

companies with high levels of growth, which

has also led him to work on issues relating

to business initiatives. Finally, Prof. Dávila

has begun a further line of research that

examines management salaries and corporate

governance.

Awards for Excellence in Research 2004-2005

Fabrizio

Ferraro

IESE Associate Professor in the Department of

General Management. Ph.D. (Management

Science) Stanford University, MSc (Sociology),

Stanford University, Dottore di Ricerca

(Organization Studies), Universitá degli studi

di Udine Laurea (Economics), Universitá degli

studi di Napoli - Federico II.

Prof. Fabrizio Ferraro has focused his research

on key governance factors and organizational

processes within large companies. He has

examined this broad subject in several areas

and at different levels, with a clear emphasis

on the role of ideas and social networks in the

shaping of governance mechanisms. More

specifically, he has developed four lines of

research: 1) The influence of social sciences on

management practices; 2) The governance

mechanisms and social networks that emerge

from free software development communities;

3) The cultural bases for social capital in

business initiatives, and 4) The evolution of

governance systems and the role of the chief

executive and the board of directors in the

strategic process.

30

Johanna

Mair

IESE Associate Professor in the Department of

General Management. Ph.D. in Management,

INSEAD, France, Master of Science, INSEAD,

France, Diploma in International Relations, John

Hopkins University, Bologna, Italy, Master in

Social and Economic Sciences,

Wirtschaftsuniversitaet, Vienna, Austria, Laurea

in Economia e commercio, Universita degli studi,

Verona, Italy.

Prof. Johanna Mair has centered her research

activities in recent years around an examination

of business initiatives in unusual contexts. One

line of research has focused on business

initiatives within established companies,

placing the emphasis on how to maintain these

initiatives in mature environments and in

companies that are not faced with radical

change. She is currently examining the role of

middle-level management and the relationship

between business initiatives and disinvestment

in corporations. Prof. Mair’s second line of

research involves studying social

entrepreneurial initiatives, where the aim is to

combine the creation of both economic and

social value. Her work in this area has opened

up an uncharted area that is beginning to have

a significant global impact.

Rama

Velamuri

IESE Associate Professor in the Department

of Entrepreneurship. Ph.D., University of

Virginia, Master of Business Administration,

IESE, University of Navarra, B. Com,

University of Madras.

Prof. Ramakrishna Velamuri has developed

three lines of research over recent years.

The first sits at the crossroads between

entrepreneurship and ethics, and focuses

particularly on how prior agreements

relating to the distribution of value among

different stakeholders may have an impact

on the potential to create subsequent value

and its amount. The second examines the

resistance of entrepreneurs to corruption in

places in which this practice is widespread,

and the way in which their resistance has

an impact on stakeholder commitment to

the company itself. Finally, Prof. Velamuri

has begun to examine the mechanisms used

to generate high growth that is sustained

over time, such as through innovative

business models, the incorporation of

ethical values in organizational processes

and successive acquisitions.

31

Publications

Alumni can keep up-to-date with the latest events at IESE through various

publications.

IESE Alumni Magazine

In March 2004, IESE’s Alumni Magazine published its first international edition,

which was very well-received. 30,000 copies of the magazine are now distributed,

26,000 in Spanish and 4,000 in English.

The Alumni Magazine is a quarterly publication containing news on all the latest

happenings at IESE. Its contents are divided into three large areas: research,

information and services.

The Features section includes four articles by IESE professors dealing with different

areas in business. The Highlights section brings Alumni all the latest news from

IESE. Finally, the Alumni section keeps readers in touch with all the activities and

services offered by the IESE Alumni Association, as well as informing them of any

news sent in to the magazine by Alumni themselves.

The electronic version of the Alumni Magazine allows readers to access article in

pdf format and browse through the items contained in earlier issues

(www.iese.edu/magazine).

newsletter@alumni.net

The Alumni Newsletter is published monthly and contains a summary of the activities

planned by the school and the Alumni Association throughout the world. The

newsletter is one of the ways in which Alumni can communicate with the association,

submit questions and make suggestions.

16,733 Alumni currently subscribe to the Newsletter.

32

Economic Overview

The monthly publication of the

Economic Overview in both Spanish

and English is one of the services that

Members rate as most useful.

Professors from IESE’s Economics

Department analyze the state of the

world economy in a series of

interesting and easy-to-read articles

that offer an academic overview of

some of the most recent

developments.

Issues of Economic Overview can be

consulted on the Association’s web

site at www.iese.edu/alumni. A printed

version of this publication is available

in Spanish.

Insight

Insight is IESE’s knowledge portal,

providing access to studies, practical

cases and teaching material produced

by IESE’s professors and researchers.

A voluntary subscription newsletter

containing all the latest news is

published every month, free of charge

http://insight.iese.edu/es

Economic Overview Articles, 2004-2005

October, 2004

· On the Road to Expansion?

· Spanish Industry After Kyoto

November, 2004

· Financial Integration in Europe

· China’s Road to a Market Economy

December, 2004

· The Aftermath of the U.S. Elections

· The View from China, the Other Pillar

January, 2005

· The World Outlook for 2005

· What’s the Outlook for Spain?

February, 2005

· Will Economic Growth be Possible in Europe?

· The Economic Significance of the European

Union

March, 2005

· The Crisis of Two Thousand and...?

· Au revoir loi Aubri

April, 2005

· Diluting the Strength of the Stability and

Growth Pact

· Europe’s Slide Backwards

May, 2005

· Where to Invest?

· The Outlook for the Euro Zone

June, 2005

· Immigration in the Expanding EU: A Prickly

Topic

· Towards a Prosperous Europe

July, 2005

· Will Italy Boot the Euro?

· A Question of Productivity

33

IESE,Our School

The completion of an IESE program represents a starting

point for the IESE Alumni Association. Once a program has

come to an end, the Association offers all participants the

opportunity to become members as a way of remaining in

contact with both the school and their class colleagues and

updating their skills through the Continuous Education

Program.

Executive Education Programs

New IESE Programs

Faithful to its continual desire to innovate, and aware of the educational requirements

of today’s business world, IESE created two new programs during the 2004-2005

academic year:

Advanced Management Program (AMP) Munich

Created for executives based in the German region, this new program includes

two five-day modules in Barcelona and intervening sessions in Munich. The

inaugural edition of AMP Munich started in April and concluded in June.

CEO’s Forum

This program is aimed at the chief executives of companies, and is structured in

three one-day modules. Offered at the school’s Madrid campus, the first program

concluded in July.

General Management

Programs

IESE general management programs

are aimed at experienced managers

and provide a comprehensive overview

of critical business topics. The

programs enhance managers'

knowledge, while building personal

leadership skills.

Participants in these programs come

from all over the world, reflecting

diverse countries and professional

backgrounds. The programs take place

at the school's Barcelona and Madrid

campuses, as well as other

international locations, and often in

innovative formats.

Advanced Management Program

(AMP). Held in Barcelona, Sao Paulo

and Munich.

Program for Management

Development (PMD). Held in Madrid

and Sao Paulo.

Executive Development Program

Egypt. Offered in Cairo for managers

based in the Middle East.

PADE, PDG and PDD. Programs offered

in Spanish, in Barcelona and Madrid,

for business leaders with distinct levels

of experience.

35

Short Focused Programs

During the 2004-2005 academic year, IESE's short focused programs were attended

by an average of 25% of its Alumni. IESE offers a significant discount for Association

Members who participate in these programs.

Short Focused Programs are intense learning experiences that target a particular

business topic or area of expertise. They are led by IESE professors, sometimes

with other prestigious faculty members or special speakers. The programs draw

diverse participants from around the globe.

Focused Programs - 2004-2005 Academic Year

· Developing Creativity and Innovation in Companies (Valencia)

· Negotiating Effectively: the Day-to-Day Duty of a Manager (Barcelona and Madrid)

· How Do I Improve my Management Skills? (Barcelona)

· Project Management: A [New?] Way of Managing (Barcelona and Madrid)

· Managing Companies in an Entrepreneurial Way (Barcelona)

· Real-estate Company Management (Barcelona and Madrid)

· Sales Management: How to Direct and Organize our Sales Teams and Keep Them

Loyal (Barcelona and Madrid)

· Coaching (Barcelona)

· Making Strategy a Reality: How to Achieve Proper Implementation and Follow-

up (Barcelona)

· Developing Creativity and Innovation in Companies (Barcelona)

· Innovation in Project Management (Palma de Mallorca)

· Accounting and Finances for Non-financial Managers (Barcelona)

· Relational Marketing (Barcelona and Madrid)

· Operational Finances (Madrid)

· Corporate Finances (Madrid)

· From Managing Human Resources to People Management (Madrid)

· Company Governance (Madrid)

· Sports Management in the 21st century: Challenges and Opportunities (Madrid)

· Developing Leadership Competencies (Barcelona)

· Business Process Outsourcing (Barcelona)

36

Seminars - 2004-2005 Academic Year

· New Businesses Forum 2005

(Barcelona)

· The Family Business and Inter-

personal Relationships (Barcelona)

· Entrepreneurial Initiative and Family

Businesses (Barcelona)

· Real-estate Businesses and their

Owners (Madrid)

Meetings - 2004-2005 Academic Year

· 19th Automotive Sector Meeting

(Barcelona)

· 11th Annual Meeting of Businesses

and Managers in the Health

Technology Sector (Barcelona)

· 1st Communications and Advertising

Sector Meeting (Barcelona)

· 5th Business and Sustainable

Development Forum (Barcelona)

· 3rd Banking Management Meeting

(Madrid)

· 7th Energy Sector Meeting (Madrid)

· 3rd Sports Management Meeting

(Madrid)

· 11th Telecommunications Meeting

(Madrid)

· 7th Fashion and Quality Brands

Meeting (Madrid)

· High-Growth Entrepreneurs Meeting

(Madrid)

· Digital Television Meeting (Madrid)

37

CorporateDevelopment

IESE receives support from a number

of prestigious companies and their

leading executives, many of whom are

Alumni of the school. Thanks to their

support, IESE is able to continue

evolving as a centre for management

education, promoting rigorous

research and staying in permanent

touch with the needs of the

community.

The assistance of the school’s Alumni

is essential for attracting support from

new companies and students for

IESE’s many programs.

IESE is currently supported by 165

Sponsoring Companies.

Grants for the MBAProgram

As part of its commitment to the

education of young employers and

managers, the Association awards four

grants to MBA candidates with the

required level of academic and

professional qualifications. These

grants cover 50% of the academic fees

during the first and second year of the

MBA program and are offered to

people whose financial resources

would not otherwise allow them to

attend.

GoverningBodies

The Association is governed by an Executive Committee

and a Governing Board, which vigorously seek to represent

the interests of all IESE Alumni.

Governing Board

The Governing Board meets once a year in ordinary session and makes decisions regarding

the different actions to be taken by the Association. All the school’s Alumni are represented

on the Board by their Class President and Secretary (elected at the end of each program)

and by the President and Vice President of their Alumni Chapter. Every three years, the

Association appoints a President. The Governing Board’s meeting for the 2004-2005

academic year was held on November 23, 2004 at IESE’s campus in Barcelona.

Executive Committee

The Executive Committee is the Association’s executive body. Its work is carried

out by individual committees that cover all the areas in which the Association is

active. It is also responsible for approving the Association’s budget and presenting

its annual financial statements to the Governing Board (see the Financial Report

on page 43). It was decided that the surplus from this year would be allocated as

follows:

· Faculty Development. Support for the Doctoral Programs that 10 professors are

currently completing at universities outside Spain.

· Development of teaching materials. During the 2004-2005 academic year, IESE

faculty have published 15 books and written 30 pieces for inclusion in books, 36

articles for internationally recognized journals, 42 working papers, 107 cases and

46 technical notes, along with a huge amount of literature relating to teaching

and research.

· IESE’s Doctoral Program. The Association provides support for this program,

which is gaining a growing international reputation and currently includes 53

doctoral students from 22 different countries.

The Association also makes financial awards in recognition of research work by

IESE’s faculty (see page 30) and offers grants for MBA students (see page 35).

39

President

· José Martínez-Rovira Vidal (PADE´84)

(until November 2005)

Vice Presidents

· Antonio González-Adalid García-Zozaya

(MBA´75)

· Javier Emilio Robles González (PDG´90)

Board Members

· José Felipe Bertrán de Caralt (PADE´65)

· Antonio Brufau Niubó (PDD´78)

· Jordi Canals Margalef (Dean of IESE)

· Enric Crous Millet (MBA´73)

· Eusebio Díaz-Morera Puig-Sureda

(MBA´69)

· Baldomero Falcones Jaquotot (MBA´72)

· Sandalio Gómez López-Egea (IESE

Professor)

· Josep Mateu Negre (MBA´78)

· Joan Molins Amat (PDG´71)

· Jan Oosterveld (MBA´72)

· Maria Puig Nart (Director, IESE Alumni

Association)

· Mª del Mar Raventós Chalbaud (PADE´01)

· Josep Valor Sabatier (IESE Professor)

· Rafael Villaseca Marco (MBA´76)

Secretary

· Ángela Martín Santamaría (Associate

Director of the Alumni Association)

Alumni ChapterBoards

To better serve members, the

Association is organized

geographically into a series of Regional

Alumni Chapters, each of which has its

own board. Regional Chapters can ask

the Executive Committee to delegate

all the powers that they require and

consider most appropriate in order to

ensure that each Chapter operates

effectively.

The number of Alumni from outside

Spain is increasing each year, reflecting

IESE’s growing profile as a leading

business school. As a result, many new

Alumni Chapters are being launched,

bringing the Association’s services

nearer to all the school’s Alumni,

wherever they may be.

40

Alumni Chapters

• Germany

President: Alois Linder (MBA´73)

• Argentina-Uruguay

President: Néstor Farias (MBA´68)

Enrique Pescarmona (MBA´67)

(Until June 2005)

• Benelux (Belgium, the Netherlands and

Luxembourg)

President: Philip Alberdingk (MBA´89)

• Brazil

President: Carlos Mª Redondo (PDD III´88)

• Chile

President: Luis Enrique Yarur Rey (MBA´75)

• Colombia

President: Fernando Jaramillo (MBA´86)

• France

President: Bruno Herlicq (MBA´00)

• Italy

President: Marco Morgese (MBA´03)

• Japan

President: Haruki Katayama (MBA´03)

• Mexico

President: Carlos Acedo Moreno (MBA´88)

• Scandinavia (Denmark, Finland, Iceland,

Norway and Sweden)

President: Svein Tryggestad (MBA´94)

• Peru

President: Alberto Garro (MBA´88)

Ramón Camminati (MBA´77)

(Until June 2005)

• Poland

President: Marcin Wyszomierski (MBA´04)

• United Kingdom

President: Mark Paviour (MBA´91)

• USA-Canada

President: George Morgan (MBA´74)

• Russia and Eastern Europe

President: Tatiana Koulakova (IFDP´92)

SPAIN

• Andalusia

President: Carlos Beca Iglesias (PDG´77)

• Aragon

President: Joaquín Franco Lahoz (MBA´74

and PADE´01)

• Catalonia and the Balearic Islands

President: José Martínez-Rovira Vidal

(PADE´84)

• Galicia

President: César Torres Díaz (PADE´83)

• Levante

President: Víctor Martínez Galán

(MBA´78)

• Madrid

President: Antonio González-Adalid García-

Zozaya (MBA´75)

• Navarra-Basque Country-La Rioja

President: José Mª Aracama Yoldi

(MBA´79)

41

Madrid Chapter Board

Given the level of affiliation and the

existence of a permanent IESE campus

in Madrid, the Alumni Chapter in

Madrid and the program of activities

that it organizes are of particular

importance.

President

· Antonio González-Adalid García-Zozaya

(MBA 75)

Vice Presidents

· Baldomero Falcones Jaquotot (MBA 72)

· José Luis Palomo Álvarez (PDG 89)

Board Members

· Juan Asúa Madariaga (MBA 89)

· Jordi Canals Margalef (Dean of IESE)

· Juan Antonio Galán Gamero (Associate

Director of IESE in Madrid)

· Carlos Galdón Cabrera (EMBA 84)

· José Mª García-Hoz Rosales (PDG 79)

· Francisco Gasset Loring (MBA 75)

· Sandalio Gómez López-Egea (Alumni

Director in Madrid)

· Chantal Gut Revoredo (EMBA 01)

· Félix Huerta Herrero (IESE Professor)

· Pedro Mielgo Álvarez (PDD 86)

· Amparo Moraleda Martínez (PDG 95)

· Virgilio Oñate de Mora (EMBA 83)

· Josep M. Ribes Ardanuy (EMBA 93)

· Jorge Manuel Sendagorta Gomendio

(PADE 90)

· Rafael Termes Carreró (IESE Professor)*

· Juan José Toribio Dávila (Dean of IESE in

Madrid)

· Enrique Used Aznar (PADE 86)

* Prof. Rafael Termes was a member until his death

in August 2005.

FinancialReport

43

Financial report - 2004-2005 Academic Year

Euros

Income: 2,594,906

Contributions from Members 2,590,506

Sponsors 4,400

Expenses: 1,480,703

Operating expenses 634,276

Services and activities

Continuous Education Program (1) 202,150

Regional Alumni Chapter Activities 176,134

IESE Magazine, Report and International Economic Overview 123,029

MBA Reunion 45,611

Class Reunions 18,883

Professional Services 14,619

Other services and general management 53,850

Personnel expenses 665,255

General expenses (2) 181,172

Surplus allocated to: (3) 1,114,203

IESE Faculty Development 437,041

Doctoral Programs 291.361

Development of Teaching Materials 242,801

Grants for the MBA Program 113,000

Research Awards 30,000

(1) IESE does not charge anything for sessions given by its faculty.

(2) Includes the Association’s office expenses: premises, telecommunications services, administration, technical maintenance and support, and the cost of

the facilities used for the Association’s activities.

(3) The larger surplus this year means that 653,720 more than last year can be allocated to IESE’s training and research activities and teaching materials.

This increased surplus is mainly due to the increased income from fees, as well as from the fact that the cost of the Global Alumni Reunion 2004 was

accounted for in the 2003-2004 academic year.

The AlumniOffice

Director of the Alumni Association

Maria Puig Nart

Alumni Director in Madrid

Sandalio Gómez López-Egea

Associate Directors

Marisa Bombardó Marzo

Ángela Martín Santamaría

Anna Minguella Pujol

Wim den Tuinder

Amparo Vendrell Carbó

Staff

Lourdes Bosch Veciana

Brígida de Miguel Gallego (Madrid)

Laura del Pozo Borrachero

Melissa Handley

Susana Lara Martínez (Madrid)

Eulàlia Puig Sanahuja

María Quesada Millán

Mª Carmen Reyes Alonso

Marta Silvela Coloma (Madrid)

Bonnie VanMegroet

The Alumni Office,a team at your service

45

IESE AlumniAssociationServices

47

Reunions and MeetingsIESE Global Alumni Reunion > p. 20

MBA Alumni Reunion > p. 21

Regional Meetings > p. 22

Class Reunions > p. 10

Tribute to Senior Members > p. 12

Professional ServicesCareer Services > p. 29

Brief Consultations with Professors > p. 29

Library > p. 29

Use of IESE’s facilities > p. 29

Membership Card > p. 29

PublicationsEconomic Overview > p. 33

Alumni Magazine > p. 32

Alumni@iese.net > p. 32

IESE Insight > p. 33

Annual Report

Continuous EducationContinuous Education Program > p. 15

Seminars and Sector Meetings > p. 36

Focused Programs > p. 36

E-networkingAlumni Directory (Internet) > p. 10

E-mail service > p. 10

Global Campus > p. 10

www.iese.edu/alumni

Av. Pearson, 2108034 Barcelona, SpainTel.: (+34) 93 253 42 00Fax: (+34) 93 253 43 43

www.iese.edu

Camino del Cerro del Águila, 3(Ctra. de Castilla, Km 5,180)28023 Madrid, SpainTel.: (+34) 91 357 30 00Fax: (+34) 91 357 29 13