Alumni Magazine 2014_Inglés

Business School

Alumni Magazine No. 3, march 2014

alumni.incae.edu

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A Message from the Rector

50 years of incae Dear incaístas:

I

am happy to present to you this edition of the Alumni Magazine, framed in the celebration of our fiftieth anni­ versary, and that aims to share with each of you all that sense of belonging to an institution that, more than just educa­ ting, transforms professionals… to transform Latin America.

I want to dedicate this edition to each and every incaísta of the more than 14,000 professionals, who are members of the network.

Those of you who still accompany us in the task of chang­ ing Latin America, be assured that our doors will always be open to receive you and to help you in your worthy professional and personal cause in favor of sustainable progress for all. And for those of you who have left a mark here at incae, thank you for having been a part of the history of this institution—we have no doubt that your testimony will continue to ins­pire our actions. incae’s mission has been conserved these 50 years and I am sure it will continue to be the cornerstone that will also up­ hold our future in history. Yes, we all have the responsibility of continuing to write [what we are all about and what we do] to serve as an inspiration for the future incaísta generations.

Arturo Condo Rector

Enjoy it!

incae Alumni Magazine

1

incae 50 years

incae Alumni Magazine 3rd edition / No. 3 March 2014

Content

President Arturo Condo

Dean of Faculty John Ickis

A Message from the Rector

1

Dean Executive Education Camelia Ilie

Executive Vice President Enrique Bolaños

Director of Development and National Committees Coordinator Wendy Rodríguez

Director of Alumni Relations Sandra Granizo

Briefcase 50 years illuminating Latin America

3

Philanthropy and social investment: Learning how to give

7

Commitment with Panama

10

Spinning the web

14

Committed to growth

17

Editor Vicky Santana C.

Publisher Summa Media Group

Contributing Writers Luis Ernesto Solís, Claudia Contreras, Luis Diego Quirós, Johana Camargo, Vicky Santana C.

Graphic Designers Martha Cadena, Jonathan Duque Artemarca

Copy Editor Spanish

Spotlight Rodolfo Jiménez: From the laying of the foundation-stone

20

Roberto Motta: The right tools

23

Jenaro Sánchez: Keep on dreaming the incae dream

26

Eduardo del Carmen: Multiplying Factor

30

Orlando Plata González

Copy Editor English Alcira Blanco

Translators Gonzalo Hernández, Rosa Isabel Ojeda, Ed Goodman

Photos Photo Archive incae, Summa Magazine, Archives Individual Photos

Additional Support Alejandra Abarca, incae incae Alumni Magazine is published

by incae Business School www.incae.edu

2

incae Alumni Magazine

Lead players Efraín Vieira: A life plan

32

Yara Argueta: An indefatigable mentor

36

Gastón Monge: An executive with lots of miles on route

39

Manuel Zúñiga: Music and Business

42

Marisol Arias: In black and white

46

BRIEF CASE

50 years illuminating Latin America

incae has surmounted infinite setbacks, but the most impor­ By Luis Ernesto Solís

tant part of its history has been the great success it has had in training thousands of business professionals from diverse cul­ tures. It’s a true birthplace of business leaders.

I

n the 1960s, George Baker, dean of the prestigious Harvard Business School, gave George Cabot Lodge, then a professor at this renowned institution, a unique mission: to shine the light of the school into developing countries. Cabot Lodge met with friends at the State Department to tell them about his mi­ssion and to get their opinions on where the best region to spread that light would be.

Cabot Lodge tells the story: “My friends told me that President Kennedy had given an emotive speech in Costa Rica.

So what about Central America? Every­ one’s working to try and bring the region together and there’s definitely a need to train mana­gers for both public and private positions.”

During the summer of 1963 a team of nine people led by George Cabot Lodge surveyed more than four hundred Central American lumi­ naries, including university presidents, government incae Alumni Magazine

3

incae 50 years

6

times

incae has taken first

place in the Latin American ranking of best business schools of ae.

officials and business leaders. After meeting with the Harvard team, a group of Central American leaders were selected to form the first Board of Directors of incae, representing all six countries in the isthmus.

The Salvadoran leader Francisco de Sola undertook the enormous responsibility and challenge of leading this council until his death in 1983. The Council quickly formed National Committees to promote the idea of incae across the region and began to raise funds for its programs.

“The first challenge to make this a reality was to find a leader. One name stood out: Francisco de Sola. All my contacts told me that if we wanted to succeed then he was the perfect man for the job. There were many times when we thought that everything would only be an idea, but Francisco never gave up. For me, he was the real founder of incae,” says Cabot Lodge.

In June 1964, the team launched a fundraising campaign among the business community of Central America and collected the first us$2 million, which formed the initial endowment for incae. This ini­ tiative began a tradition of fundraising within the private sector, hitherto unknown in the region.

The first Advanced Management Program at incae was held in Antigua (Guatemala) in 1964, followed by similar programs in Panama, Costa Rica and El Salvador. The campus in Nicaragua was opened in 1967. Its construction was the result of a joint effort between Harvard, usaid (which granted a us$10 million loan to the Central American Bank for Economic Integration) and business leaders from across the re­ gion, who gathered together us$2 million for the endowment.

Never give up In 1972, an earthquake hit Managua (Nicaragua), destroying the city. The incae campus was also affected. Harry Strachan, president of the ins­ titution in 1981-1982, during the earthquake crisis, led a plan for the school to contribute to the dramatic situation of the country, and since then incae was born as a school not only to develop leaders but as a think-tank that generates research for decision-making leaders from multiple sectors at a national and regional level.

“I led a reconstruction plan, which I pre­ sented to representatives of the World Bank

50 years illuminating latin america

and the u.s. govern­ of Walter Kissling Gam, ment. After a while, it became one of the they agreed to give us most important in the a loan of us$1,000,000. region. After the San­ Number of As a result, we were dinista revolution in the female students. able to continue offer­ 80s, incae was forced ing mba programs to to open a second cam­ the Community of Central Ame­ pus in 1984 in Costa Rica. Ha­rry rica. I’ve always said that what Strachan and Marc Lindenberg doesn’t destroy you makes you were the presidents that managed stronger, and that’s exactly what the transition at the time. And af­ happened in the case of incae,” ter the sudden death of Francisco observes Strachan. de Sola, Walter Kissling of Cos­ Wickham Skinner, a profes­ ta Rica accepted the position of sor at Harvard Business School, Chairman of the Board as the suc­ says that he traveled more than cessor of “Don Chico”. Kissling’s thirty times to Nicaragua during Gam sons, Walter and Manfred, the early years of incae. “I went said that incae was the heart and there to write cases. I was sur­ soul of his father. “He wanted to prised at the enthusiasm of those study at a university, but he could first Central American students. never finish his studies. He man­ They were all very interested in aged to be successful, but was al­ everything, especially in those ways clear about the importance of first cases we presented to them,” education. Dad always told us that the only thing he could leave his he says.

Cabot Lodge adds that one children was a good education,” of the most important features of said Walter Kissling J. incae is that right from the begin­ ning it was independent. “incae The New was independent from Harvard, Millennium... independent from any govern­ The perfect ment. A fully independent insti­ opportunity tution whose sole purpose was to In the 1990’s, the create leaders,” he stresses, add­ region changed its ing that at that time it had over agenda from the forty researchers studying more political to the eco­­ than eight hundred cases. “We nomic. At the Con­ organized the first group of re­ ference in Rio de searchers. We trained the Central Janeiro in 1992, it was defined Americans to be the first profes­ that the world had reached the sors,” he says. limit in the use of scarce resourc­ Thanks to this momentum, es. According to Brizio Biondithe second campus of the busi­ Morra, president from 1991 to ness school was opened in 1984, 1997, “ the development per se in Costa Rica. Under the command was destined for disaster if they

BRIEF CASE

2.705

I’ve always said that what doesn’t destroy you, makes you stronger, and that’s exactly what happened in the case of incae.

Harry Strachan.

Percentage of women currently studying an mba

34

%

incae Alumni Magazine

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incae 50 years

incae

didn’t have to depend on Harvard or any government.

It’s always been an independent institution, focused on creating leaders.

failed to balance social and environmental issues.”

With the philanthropic support of Stephan Schmid­ heiny, “something we (incae) knew how to do very well was to unite the concepts of sustainable de­­ velopment, eco-efficiency and management of scarce resources, not as limiting but as integral elements of prosperity, competitiveness and growth,” the first president graduated from incae and current Chair­ man of the Board, Roberto Artavia said. Under his leadership, the school was guided effectively to­­ ­ ward these concepts, and today all incae programs address the issue of sustainable development as part of a global learning, says Arturo Condo, current president and graduate mba from incae.

Playing an important role

2

Café Britt, a Costa Rican company characterized for its international ex­ have become presidents of their countries. pansion (it has stores in eight countries), among many other businesses in the region, identifies incae as one of the keys to its success. Steve Aron­ son, the company’s founder, says that Costa Rica as a country was go­­ ing through an important development phase when they were focused on exporting a gourmet product. “incae laid out the route to success.

Thanks to the help of the institution, we were able to quintuple the busi­ ness,” he says.

Carlos Pellas, ceo of Grupo Pellas and current VicePresident of the Board, says that incae has promoted economic integration in the region. “incae plays an im­ portant role in Central America. It has taught us how busi­ ness is done transparently. The institution has more than 14,000 graduates, who have created thousands of jobs in the region,” he states.

incae graduates

The future

Percentage of women graduates of the mba

21,8

6

%

incae Alumni Magazine

For 50 years, people from North, Central and South Ame­ rica have helped build this institution. incae is more than a management training school; it is a force in society, and that makes it unique. “incae has the special opportunity to make a big impact, much bigger than its size,” says Michael Porter, professor at Harvard.

For Arturo Condo, “the next 50 years we will attract leaders from around the world, from all walks of life, who are committed, motivated and wanting to build a new incae.”

BRIEF CASE

Do you need support to improve the effectiveness of your philanthropic activities? incae’s Philanthropy and Social Investment Program has been created specifically for that purpose.

Philanthropy and Social Investment:

Learning how to give By Luis J. Sanz

D

Ph.D., full professor of finance at incae Business School and the Strachan Chair in Philanthropy and Social Investment.

Consultant in finance, corporate governance and family companies.

id you donate money last year? Did you do­ nate time last year? Did you help a stranger last year? Have you given advice to a public official during the past year? Over the last twelve months we carried out a survey ask­ ing graduates these simple questions in preparation for the International Meeting of incae graduates held at the Walter Kissling Gam campus in October. The results were very interesting. Half of the respondents (51.49%) stated that they donate time or money more than three times a year, and more than three-quarters said it was incae Alumni Magazine

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incae 50 years

The program will seek to increase both social investment and its effectiveness in Latin America. important to do so effectively. However, the results show us that they follow very different strategies when donating which are not necessarily in line with international best practices. These results are very similar to those we uncover­ ed during in-depth interviews with 23 philanthropists from the six countries of Central America. In this context, the objective of the Strachan Chair in Philanthropy and So­ cial Investment in the region is to encourage a greater and more effective philanthropic culture in the region. In this context, the objective of the Philanthropy and Social In­ vestment Program is to encourage a greater and more effec­ tive philanthropic culture in the region.

A deeper look at graduates who donate allowed us to identify three important groups-benefactors, senior gogivers and young go-givers (percentages in brackets are rela­ tive to the total of what they said they donated in time or money): • Benefactors (40.37%): donate money more than three times a year, do not donate time, but do give advice to public officials. They donate individually, with no specific focus. Religion is not important either as motivation or as a channel. Their ages range from 41 to 50 years, they are mar­ ried, have children, and hold senior management positions.

• Go-givers: donate time and money, but differ de­ pending on the profile.

The senior (34.38%) go-givers have a similar profile to the benefactors, but religion is very important to them, both as motivation and as a channel. They also focus on basic 8

incae Alumni Magazine

needs such as education and health.

Meanwhile, the young (12.90%) gogivers, aged between 31 and 40, are single, have no children and hold functional management positions. Re­ ligion is not as important as a vehicle, they prefer ngos, although more as a motivating factor. They have a similar approach to the senior, but do not give advice to public officials (they may not know many yet).

Meanwhile, the Central Ameri­ can philanthropists we interviewed, who are driven by their values and ​​ beliefs and the potential impact on the community, focus on support­ ing initiatives in education, health and nutrition, within their communi­ ty or country. They separate csr ac­ tivities from philanthropic activities, and assume the latter much more on a personal basis. Approximately half do not measure the impact of their donations.

How do these results compare with the international experience?

The field of philanthropy has changed substantially over recent years. With the United States being the main in­ ternational reference point, in recent decades we’ve seen an ever growing number of successful entrepreneurs (Buffet, Gates, etc.) dedicate a signifi­ cant portion of their fortunes to these types of activities. But many of these en­ trepreneurs have also revolutionized the field by not considering philan­ thropy as a gift or charity, but rather as a social investment. As a result they‘ve focused on including many of the prin­ ciples and practices that made them into successful entrepreneurs in the

BRIEF CASE

field. They’ve primarily done this, al­ though somewhat polemically, by measuring the impact of donations and programs.

This “revolution”, as some call it, has even gone so far as to applying principles of risk capital to social in­ vestment, developing the concept of “venture philanthropy”. And while some experts argue that it’s not al­ ways possible to measure the impact, all seem to agree on the importance of improving efficiency in the philan­ thropic world. Of course, making an impact on your own is very difficult, and that was the main reason Warren Buffet chose to donate a large part of his fortune to the Gates Foundation, while seeking maximum impact and sustainability. Although incae gra­ duates, given their business training, are able to follow these international trends, the evidence seems to suggest that the majority don’t. The philan­ thropists we interviewed do not.

This is where the Philanthropy and Social Investment Program, which was launched in January 2013, comes into play. It was mainly funded by the Strachan Foundation and other do­ nors who are close to its founder and ex incae president Harry Strachan.

The program has two goals: to inspire leaders and family groups to be actively involved, and from very early on, in philanthropy and to de­ velop teaching modules for the differ­ ent mba programs such as the incae Ad­ vanced Management Program (pag).

The program has a full-time researcher and the professors Luis Sanz and An­ drea J. Prado work part-time. It also

This “revolution” has even gone so far as to apply principles of risk capital for social investment, developing the concept of “venture philanthropy”. has an Advisory Committee made up of the businessmen and philanthropists Harry Strachan (Costa Rica), Dania Bal­ todano (Nicaragua), Arturo x. Sagrera (El Salvador), and Sa­ brina Bacal (Panama).

So far the program has been focused on performing, on the one hand, an analysis of international best practice, including the Social Enterprise Initiative at Harvard Busi­ ness School, and on the other hand to understand the cur­ rent state of philanthropy in Latin America. To help reach these goals we’ve carried out both the aforementioned sur­ vey and the interviews, and we’re going to implement a sur­ vey of the foundations operating in the region. As a result of this research, we’ve designed what will be the first mo­­dule in Philanthropy and Social Investment. It will be taught in the mba program. We’ve also carried out live cases in the pag of July 2013 (Proyecto País, with Arturo x. Sagrera) and in the pag of January 2014 (Sponsoring Schools with Dania Baltodano).

The future activities of the Chair will focus on the development of the syllabus and teaching materials needed for the module, and will combine live cases with the pro­ gram when appropriate. In the near future it also plans to offer training programs for graduates and philanthropists, so we can help them increase the effectiveness of their phil­ anthropic support, change the perception that donations al­ ways have to be in cash and only as charity, and that we can increase both social investment and its effectiveness in Latin America. incae Alumni Magazine

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incae 50 years

Commitment with

Panama

© José Porras

By Johanna M. Camargo

As if it were a magic formula, those who complete their Higher Education studies in the best business school of Latin Ameri­ ca, incae, end up being successful leaders and entrepreneurs.

Their stories suggest that this educational center provides the necessary tools to transform companies and organizations in Latin America and the whole world, as established in one of the objectives of this educational institution.

agi Panama works

to guarantee that many in Panama have access to a privileged education.

US$

47

thousand

has been disbursed by agi Panama in scholarships up to now.

10

incae Alumni Magazine

H

éctor Cotes and Carmen Sealy de Broce opted for a Higher Education at incae, and today they are not only reaping the results of that decision but are also members of the incae Alumni Association, Panama chapter (agi Pana­ ma). Their goal is to create a common space that promotes the connection of incae graduates, enables its members to share relevant knowledge of current issues and brings together the agi Panama community, entrepreneurs and experts of various areas of interest.

The Simón Vega Berbey Scholarship Based on that premise, a few decades ago, agi Panama was crea­ ted in Panama, but it was only until in mid-2009 when this or­ ganization was reactivated in the hands of its former President,

incae graduates association-agi

Carmen Broce. Before her, the current President of Panama, Ri­ cardo Martinelli Berrocal held this position. Cotes currently leads this entity. Cotes and De Broce are convinced that as gra­ duates of incae they can have more influence than any publi­ city to encourage students to study in this business school.

One of their main goals is to ensure that each day more Panamanians have access to Higher Education tools that can radically change the direction of their professional career and work environment; and thus they are working in order to award scholarships to Panamanian students to study mbas at the incae through a fund created in the year 2010. This contribution is financed with activities organized by the mem­ bers of AGI Panama, the most important of which has been the xii Congress of incae Alumni, in which the keynote lecture was presented by Álvaro Uribe Vélez, former President of Co­ lombia, with the theme “Confidence: The synergy between the State and the private sector”.

The former President of agi Panama believes that, al­ though they do not have any partner-donors in the region, upon the reactivation of this organization, graduates them­ selves who live in the Canal Nation will become donors of the Simón Vega Berbey scholarship, which was named in honor of an illustrious Panamanian and pioneer who graduated with distinctions with the first graduation class of incae (mae i).

The scholarship covers 50% of the total tuition, accommo­ dation and food expenses (at the incae campus) of the resi­ dential Master´s Degree Program. Up to date, agi Panama has disbursed us$ 47,000 in scholarships.

To qualify for this benefit, the candidate has to be Pana­ manian, of legal age, be previously admitted to the mba Pro­ gram of incae, fill out the scholarship application, have

BRIEF CASE

xii Graduates Congress of incae

Panama

Héctor Cotes’05 previous education: Industrial Engineer and mba in Finance from the Universidad Nova

Southeastern, summa cum laude incae: maex’05, graduated with High Honors current Position: Chief Financial Officer of Grupo Eleta. Panama

You have to have passion and perseverance in these types of groups, learn how to manage your time between philanthropy, family and work; being aware that if you dream something, you can achieve it. incae Alumni Magazine

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incae 50 years

© AGI Panama

Panama

Carmen Sea­ly de Broce’85

excellent academic performance records of his/her Bachelor´s Degree studies or equivalent, submit his/her resume (it is re­ commended that the individual demonstrates relevant work experience) and sign the Commitment Letter with the agi Pa­ nama, which stipulates that when the winner of the scholar­ ship completes his/her mba, he/she must return to work in Panama. Additionally, the principles and values as well as the emotional intelligence of the candidates are taken into account to determine how committed they are with their desire for selfimprovement. After completing their High Education studies, graduates will have the necessary tools to resolve any situation from different perspectives “because incae teaches you how to identify which is the real problem in a particular situa­tion and how to find alternative solutions depending on the objec­ tive that you want to achieve. This occurs because the insti­ tution prepares you to be a manager of any company in any industry,” De Broce explains.

Tools that change lives

Although she thought that her life would always revolve around electric plants, the former President of the agi – Panama chap­ previous education: Industrial Engineer ter confesses that when she returned with her Master´s Degree, incae: mae´85 everything changed. And the fact is that she, who is also Vice current Position: vpe Platino Exec Search and aydesa. Managing Shareholder President of Platinum Global, was sure that she had all the tools Splendor Tours s.a. Panama to walk firmly towards better employment positions. Although this did not happen immediately, in the medium term, she re­ ceived a call from the incae Costa Rica office announcing that the owners of a foreign company were looking for a Ge­neral Manager and wanted the person to be an incae graduate. She competed for the position and won, and since then, she has not stopped advancing in her professional career because “at that time, the needs of a company and the knowledge that I had acquired years ago in my school of business had con­ verged,” she declared. After working for five years in that position, De Broce ventured into the area of Human Re­ sources Management in di­fferent companies, a position that she holds until today; but this time in her own com­ pany, which she founded more than fifteen years ago.

As a mother, she trusts and that her children will want to follow her steps when they compare the life of other professionals with that of their parents, both incae graduates, who enjoy today with experience and knowledge the results of their work. She considers that both she and her husband studied cases of realities of Carmen Sealy de Broce with her family in Panama.

Latin America that they put into practice in their own 12

incae Alumni Magazine

incae graduates association-agi

work and increased the network throughout Latin America by being graduates of the incae.

Furthermore, Cotes affirms that all incae graduates have the commitment to give back to the society the oppor­ tunity they had to obtain an excellent education and that it is only necessary to find the instruments to do it; and the agi does it through the scholarship it awards. Cotes was the Risk Manager of the Canal Expansion Project, the Operations Vice President of ProFuturo and today is also the Vice-President of the Panamanian Association of Business Executives (apede).

Cotes exalts the importance of obtaining a Higher Education because it opens more options to reach leadership positions and, why not, to be entrepreneurs and constitute a company of one´s own. “incae changes the way you think and decide.

It gives you a profile of debate and teaches you that the right idea is the one that is best supported.” And he adds to the list that the incae graduate is often a mixture of experience and knowledge, that he/she does not just remain just planning but also knows how to execute.

He points out the importance of integrating into Pro Bono associations like the agi, to help those less fortunate, but recognizes that this group may be social or professional depending on the interests and age of each incae graduate.

“Associations give you the opportunity to promote ideas and contribute through them options that enable you to express yourself and listen to others, and at the end state a point”.

“You have to have passion and perseverance in these types of groups, learn how to manage your time between philan­ thropy, family and work; being aware that if you dream some­ thing, you can achieve it,” Cotes declares. “Therefore, we hope that by mid-2014, the legal structure of the agi Panama will be consti­tuted as a non-governmental organization so that all of the donations that will be received will be tax-deductible be­ cause we already have many people interested in the project.”

In the short term, the President of this incae chapter expects to continue conducting the training programs and activities that will contribute with the formation of new leaders.

BRIEF CASE

incae graduates association - Panama

50 %

Of the total

costs

(tuition, accommodation and food expenses at the INCAE campus) are cover by Simón Vega Berbey scholarship.

incae changes the

way you think and decide.

It gives you a profile of debate and teaches you that the right idea is the one that is best supported.

INCAISTA

Live incae, be incae INCAE graduates have the commitment to give back to the society the opportunity they had to obtain excellence; it is only necessary to find the instruments to do it. Héctor Cotes.

incae Alumni Magazine

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incae 50 years

Spinning the By Luis Diego Quirós

Web Javier Clausen’02 previous education: Law, uaca, Colegio Académico incae: maex´02 current position: Clausen (Law Firm),

Legal and financial advice. Costa Rica

M

eeting Javier Clausen is quite an experience. In addition to his di­ rect but amiable character, his office is like a mini-museum of modern art: showcasing sculp­ tures, exotic furniture and an ex­ traordinary view out onto an area of lush vegetation. It’s obvi­ ous that this lawyer, stockbroker and graduate of the incae Busi­ ness School, is an art lover with very good taste.

Clausen has been chair­ ing the Association of Graduates of incae Business School (agi) Costa Rica chapter. In addition to being one of the founders of this group of volunteers, he be­ lieves that his passage through the school was one of his “most rewarding experiences.”

Javier Clausen leads the incae network in Costa Rica, the largest in the area.

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incae Alumni Magazine

incae graduates association-agi

Costa Rica’s agi is re­ latively new and according to Clausen, ran up against a se­ ries of barriers to maintain its operation in preceding de­ cades. With a self-assurance that’s evident when this busi­ nessman talks, it’s no surprise that thanks to drive and per­ sistence, excellent results have been swift to materialize.

Eight years ago a call was sent out to set up a group to represent incae graduates.

“I came along without any par­ ticular expectations, but during the event I was invited to par­ ticipate in the short list, and we all submitted our resumes.

They appointed me right there in first meeting.” Back then there were just over eighty members. Costa Rica’s agi now boasts over two hundred.

“The association aims to pro­ vide help to the community, hosting talks by professors and top-level speakers for the com­ munity in general and of course the incaístas. The board hosts a social function to support this goal. incae has become a driving force of thought in the region and I think that as gra­ duates we can provide assistance to academia and the communi­ ty in general. I believe our goal is to make a difference in our societies,” he says proudly.

Business objectives Sitting on a modern seat, fash­ ioned from the fuselage of an aircraft, this Costa Rican busi­ nessman narrates the positive

incae has

become a driving force of thought in the area …I believe our objective is to make a difference in our societies.

experiences he’s had during his time at agi. He highlights the cases of people who after parti­ cipating in their discussions and activities have been moti­ vated to go and start their own businesses. “On three or four occasions we’ve experienced very emotional moments, where people have approached

The Costa Rica agi has more than

>

200

members

BRIEF CASE

us to thank us for these confe­ rences, because they were the inspiration for them to decide to branch out on their own and become independent. These things are priceless and make all the difference for me,” he says.

The talks provided by this association are low cost, but if they were put on elsewhere, or for profit, they’d cost some­ where in the range of us$400 to us$500 per head. The idea of the members is that everyone should to be allow­ed to partici­ pate, and this is achieved with pro bono co­ llaborations from the board, some of the pro­ fessors and ins­ titutions. “The only thing we charge for is rent and other ope­rating expenses”, he adds.

Another positive facet of the agi is that through a part­ nership with the bac bank, it was able to start a revolving loans fund, placed in a trust, which provides loans for six Costa Ricans each year to en­ roll in incae. “We call them revolving funds and not do­ nations because it’s important that the beneficiaries repay the money at a later date, so that another six people can have the opportunity to study there” he explains.

Clausen recognizes that scholarships are necessary, but they’re not sustainable and in many cases are only partial.

This is where the agi trust comes into play, allowing the students to bring together all incae Alumni Magazine

15

incae 50 years

We call them revolving funds and not donations because it’s important that the beneficiaries repay the money later, so that another six people can have the opportunity to study there.

the money they need to study at incae. “They make very low monthly payments for a few years and pay off the loan.

These payments help the peo­ ple coming after them. So I think it’s something that pro­ vides permanence and sustain­ ability over the long-term.”

Other activities for agi are being analyzed, but the As­ sociation’s president is frank when he recognizes a lack of time as their main constraint.

However, the executive director of the Costa Rican agi is Sylvia Garnier, whom Javier Clausen considers to be “the central pil­ lar of the Association, as her presence is essential for every­ thing to work properly.”

In addition to being an entrepreneur, Javier Clausen was a professional basketball player and is a big motorcycle fan. These characteristics lend dynamism to both his life and his professional career, and are 16

incae Alumni Magazine

evident in his work in agi. As in sports, realistic actions in business are what count the most. The association has also experienced this: “We’ve had innovative ideas with a lot of promise, but we’ve come up against considerable time cons­ traints, so we’ve learned to only focus on doing what we’re able to do, and not to aspire to achieve unattainable goals. Our most important role is to safe­ guard the structure that allows the group to be economically solvent,” he explains.

Constant collaboration In 90% of cases, incae profes­ sors generously donate their time. Clausen highlights their extraordinary communication skills which facilitate the con­ ferences enormously. Gra­ dua­ tes have also participated by presenting their projects during these forums as they have much to contribute.

Networking during these activities is essential. A space for participants to talk is al­ ways provided. However, this businessman makes no attempt to hide his frustration when he sees that many people don’t take full advantage of these oc­ casions: “Costa Ricans tend to be shy at these kinds of events.

The talks finish and they leave, never knowing if the person standing next to them could have been their next boss, next business partner or some­ one important in their life. So we always say that the activ­ ity doesn’t end when the talk is finished; we invite attendees to stay and enjoy some snacks to help break the ice. This dif­ ference is the catalyst which allows ideas to come together and be shared, while challeng­ ing the passive Costa Rican na­ ture at professional events.”

incae graduates association-agi

BRIEF CASE

Committed to

Growth

By Johanna M. Camargo

“We want to see incae grow. It’s an institution we have much to be grateful for and we love it with all our hearts,” says Regina Andreu, Vice Presi­ dent of the incae Graduates Association (agi) in El Salvador.

A

ndreu has dedicated 35 years of her life to helping Salvador­ ans take the decision to study their mba at incae.

Andreu is also the president of LatinTopJobs, an executive search and human capital evaluation business. This top-flight exe­ cutive recalls how in 1979, when she’d just graduated, she met up with colleagues in a house in the Miramonte neighborhood in San Salva­ dor. This was where, amid many pleasant conversations, this project she’s so passionate about started to take shape: the agi, a dynamic

El Salvador

Regina Andreu’79 previous education: Industrial Engineer, Universidad Centroamericana José Simeón Cañas, El Salvador incae: mae´79 current position: President of LatinTopJobs, El Salvador

Verónica Castro and Regina Andreu have implemented a winning formula to ensure the success of the El Salvador incae Graduates Association.

Standing, from left to right, Regina Andreu, vice president, Alma Rosa Pineda, trustee. Sitting: Margarita de Castro Guerra, J.D. Secretary; Annie Orellana, treasurer; Verónica Castro, J.D. President.

incae Alumni Magazine

17

incae 50 years

The El Salvador agi was created with the idea of continuing with networking, maintaining contact between former students, to collaborate with incae and keep the brand visible in each country.

El Salvador

Verónica Castro’07 previous education: Architect, Universidad Alberto Einstein incae: maex´07 current position: Project Director in Constructora La Ceiba, El Salvador 18 incae Alumni Magazine

body that organizes free workshops and conferences for members on economic perspectives, and also gives them access to local and regional job opportunities.

Verónica Castro de Portillo, president of the El Sal­ vador agi, agrees with the definition of the group’s spi­­ rit, which emerged with the aim of continuing networking, maintaining contact between former students, to collabo­ rate with incae and keep the brand visible in each country.

From the perspective of her selection business Andreu says she would confidently recommend an incae graduate for the capacity, skills and experience they would have, and they would stand out from other applicants. Mutual coope­ ration is inherent in the spirit of all incae graduates “We all try to help each other, whether we’re recent graduates or we graduated years ago. We are united once we recognize each other. This has really helped my business as it opened many doors for me,” she said. Her connection to incae has helped her break the ice when doing business with senior executives in any of the Central American countries.

Castro didn’t study in Nicaragua, but took her Exe­ cutive Master’s degree in San Salvador. It made a per­ manent impact on her and helped to open new growth prospects for her business. “I worked in a family busi­ ness in the real estate development sector. As my father is a graduate of incae, I decided to take the Executive Master’s degree. I was already married with children, and graduated in 2007. It was en­ riching. You meet so many business people in the country who open up opportunities for you,” said the architect, who has been a member of agi for three years and its president for eight-months. In fact, it was Regina Andreu who invited her to join the agi, who is in charge of promoting the benefits of being a member of the association. The agi obviously puts into practice the incae culture: teamwork. “We all form a good team with a team-leader and we all listen and contribute. We owe it to our members to provide an excellent service, so we invite experts to give talks, and even let people who are not incae graduates attend,” said Castro.

Although competition in the market for masters is high, they both strongly recommend opting for incae, es­ pecially people working in the region. “Central America is all connected together; and for the executive who has busi­ ness or works in Central America, incae is the best choice,

incae graduates association-agi

Central America is all connected together.

For the executive who has business or works in Central America, incae is the best choice.

because not only does it teach us cases from the region, but also from outside. incae gives us these tools,” said Castro, who stresses that the cases in her Executive Master’s degree that impacted her the most were those reflecting the reali­ ties of Central and Latin America.

Verónica Castro was fortunate to be able to carry out her Executive Master’s in San Salvador, as the program is now only available in the Nicaragua campus.

Personal satisfaction These two executives are committed to volunteering for incae. Although Castro was initially not tempted to join the agi, she recognizes that being part of the association has helped them meet more people. For her, it’s a way to thank her alma mater. “It’s a job where we can give some­ thing back to the institution, as incae has filled us with knowledge and skills, and opened the doors to new experi­ ences,” said the real estate executive. agi is currently promoting a workshop for its mem­ bers on business competitiveness. “It’s not just csr; it fo­ cuses more on how to help others, how companies can make a profit and provide help to other people. It’s aimed

BRIEF CASE

agi El Salvador has

130

members

at our members as an important incentive for belonging to the agi,” Castro said.

In the future, both want to encourage more people to live the incae dream, and for more graduates to enjoy the El Sal­ vador agi experience. “incae grad­ uates can join in our activities at reasonable prices; companies pay us a yearly fee, and this is how we fund the agi, with this and with membership fees,” says Castro. In El Salvador, Ar­ turo Cruz or Arturo Condo command large audiences and their speeches generate lots of debate. In 2013, agi El Salvador gave a us$ 5,000 donation to the incae scholarship fund.

Andreu said that the idea is to have a lot of members and to achieve stronger connections between them.

“I know that we’re good and we can knock it out of the park. We dream of helping each other more, and having a really strong association so that incae feels more strongly we are part of it.” incae Alumni Magazine

19

They bet and won

incae 50 years

Rodolfo Jiménez’64 Previous education: Economics at the Universidad de Costa Rica. incae: Advanced Management Program (PAG), 1964 current position: Shareholder of Florida Ice & Farm Co. (fifco) and Grupo Nación. Costa Rica

From the laying of the By Luis Diego Quirós

20

foundation-stone

incae Alumni Magazine

they bet and won

SPOTLIGHT

Costa Rica

The meeting room near the office of Don Rodolfo Jiménez Borbón is simple and elegant, exactly the place where one would imagine the meetings of large corporations happen.

T

his is where I hope to talk to him about better, and so we analyzed the area between Nica­ his first experiences at incae Business ragua, Costa Rica and Panama. A vote was taken School, which in addition to opening up and Nicaragua was the winner, on a property the doors to the regional business world for him that the government offered us in a place called fifty years ago, also launched what is now one of Montefresco” he recalls. the leading business schools in the region and Subsequently a litany of complicated si­ the world. tuations arose, which forced the headquarters Don Rodolfo is someone whose gaze com­ to be moved and the Costa Rica campus was mands respect. If one knows a li­ opened, but this was almost a se­ ttle about his career in business, condary concern - the important Number of participants a multitude of questions come to point was that a radical change in mind, but among the main ones the business culture of the region are to hear his positions and views had been achieved. “It was a very on the business and economic per­ enriching experience and we’re all pag of incae formance of the isthmus over the very proud of what was accom­ plished in incae’s inaugural year. last five decades.

“We’re happy about the decisions The first Advanced Mana­ Back then that were taken then and what gement Program (pag- Programa de Alta Gerencia) was held in An­ it was unheard of to proved to be the defining contribu­ st tigua, Guatemala, from July 1 to question the decisions tion to the creation of such an im­ portant and prestigious institution August 7th, 1964, with 45 partici­ of the family. So I pants. At the close of this event as incae is today.” left Wharton, came the founding documents of incae back, and finished my The context were signed. Among the atten­dees Fifty years ago, the economic and was Don Rodolfo, who recalls that career in Costa Rica.” political context was very differ­ you had to “read a lot” during the course, he says, laughing. He then becomes a li­ ent. The countries were much less crowded and ttle more serious and thoughtful, and empha­sizes regional integration plans were still in their in­ that there was a lot of reading to do back then, ception. For the founders of incae, it was essen­ but on interesting issues, and he was able to meet tial that the region underwent development, and people who have had an important influen­ce in important that the business sector played a key role in achieving this objective. They all had to both his personal and professional life.

He remembers that Francisco de Sola, take more than a month out of their valuable Chairman of the Board of Directors of incae, time, put their businesses on hold and dedicate encouraged healthy discussion about the future themselves to a program that was only just be­ ginning. However, as the majority owned their campus of the school.

“Francisco wanted it to be in Guatemala, businesses it was not seen as a sacrifice, but as an but we thought an intermediate point would be investment for themselves and their countries.

in the first

45

incae Alumni Magazine

21

incae 50 years

that time, the main challenge Jimé­ nez had was his work at the Cos­ ta Rica Brewery (Cervecería Costa Rica), but his time as a key mem­ ber of this first generation of incae opened his eyes to the possibilities offered and taught him one of his most important lessons: to share in the experiences of people from dif­ ferent countries.

“Thanks to this experience, I got the chance to meet many peo­ Don Rodolfo Jiménez Borbón is ple who have been very important one of the founders of incae, who to me. One example is Harry Stra­ chan, who has been an important has not only contributed to the influence in my life. Harry was rec­ growth of the institution but also to tor of incae and we are still friends to this day. Back then we hired entrepreneurship in Central America. several consultants in Cervecería, “My case was very particular, because part which helped us to improve the business.” of my high school education was in the Unit­ ed States, and then I went to Wharton, at the The current situation University of Pennsylvania, which was a very Don Rodolfo believes that today’s students are prestigious center for business studies. But un­ better prepared, but is concerned that the oppor­ fortunately I couldn’t finish my studies because tunities are not forthcoming for everyone in the my uncle died and overnight my father told me same way. He believes that high school coverage he would like me to go back to finish my profes­ is still poor in the region and that many people sional training in Costa Rica. Back then it was go to the university to study careers that don’t unheard of to question the decisions of the fami­ have any job prospects at the end. However, he ly. So I left Wharton, came back, and finished my feels that technology and globalization will al­ career in economics in the Universidad de Costa low people, when they do things right, to be able Rica. I think Dad felt slightly guilty and he pro­ to grow and achieve their goals. posed that I go to incae. I was already married, Where this Costa Rican businessman is not but my wife also agreed that I take part and that’s so optimistic is when he talks about the current when the story began.” bureaucracy of some nations. “incae has passed Don Rodolfo Jiménez Borbón, who is an im­ through some very difficult times, but I think it portant shareholder in big companies including would be more difficult to setup now because, at Florida Ice & Farm Co. (fifco) and Group Nación, least in Costa Rica, we oppose anything on prin­ said that much was learned during the first pag, ciple. It’s a shame, because the advances have but among the greatest teachings was the chance made us more efficient, but it’s not something to speak to other Central American entrepreneurs. that’s being achieved for everyone in society,” he In addition to his professional work, he was also says with a chuckle, which gradually turns into able to sow the seeds for great friendships. At a sad reflection.

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incae Alumni Magazine

they bet and won

SPOTLIGHT

Panama

Roberto Motta Jr.’65

The right

tools

By Johanna M. Camargo

Now 74 years old, the founder of Motta Agencies has it quite clear that although technology has caused paradigm shifts, business values remain the same as those held fifty years ago.

T

His success story shows that it’s a race of resistance, but also one of persistence, if one is to attain one’s dreams and goals in life.

he task of managing a business when you don’t have the necessary educational tools to manage it is not impossible, but it’s a much more compli­ cated thing to do. For this reason Roberto Motta Jr. and the business people of the time clearly realized since 1964 that Central America needed a business school to train the future businessmen of the region. So after he graduated from Georgetown University, in the us, in Business Administration he took the High-Level Ma­ nagement Program at the recently founded incae, which had the support of the Harvard Business School.

The program was developed in 1965 in the city of Bo­ quete, Chiriquí Province, in Panama.

Now, 49 years later the founder of Motta Agen­ cies does not repent from the decision he made those years ago, because the moment a person has the tools to achieve a goal, the outcome is success. From incae incae Alumni Magazine

23

incae 50 years

Passion, perseverance, and love are the basis for his 50 year success in marriage, from which he has reaped four children and thirteen grandchildren.

24

incae Alumni Magazine

they bet and won

have come the leaders of the best or­ ganizations and companies in the region.

“The moment I completed my studies [at incae] I was much more aware of the absence of business ad­ ministration concepts in my coun­ try. For this reason I embarked on this project, where I continue coope­ rating with incae to the present day in many different areas, so that other people may have access to higher edu­ cation. The case resolution methods of those years are just as applicable to­ day as they were then. In effect, they continue being successful because they teach you how to solve problems from different case scenarios, but in the best way possible. My oldest son got his Master’s Degree from incae.”

As a professional, it’s clear for him that his education together with his values, such as his business ethics, still remain today, although techno­ logy has changed the way things are done. He has exemplified perse­verance in achieving goals, he has shown pa­ tience in waiting for the right moment, he has taken new steps, diversified his businesses, and has transferred the leadership of his Motta Agencies to his eldest son, Robert iii.

In his opinion, it’s not easy to hold to a good business ethic, as va­ lues have been inverted and many people want to make easy money. But his life example shows that making the right decisions and showing per­ severance pay off in the end. “We have to preach what we practice, and prac­ tice what we preach,” he affirms.

Although he has retired, he still sits on the boards of various busi­ nesses and non-profit organizations.

At 74, his priorities are more focused

When a person moves in the maelstrom of business one may lose materially; if there isn’t a spiritual basis, nothing that you do will fill your life, neither will you have the peace to be a successful person.

96

%

of incae teachers have PhDs and come from the most prestigious universities in the world.

SPOTLIGHT

on enjoying, together with his wife Maria­nela, the fruits of his good de­ cisions. They’ve been married for 50 years and have four children: Rober­ to III, Emily, Liz Marie and Félix, and they have thirteen grandchildren. To keep in good health, he enjoys a low fat and carbohydrate diet, but high in proteins. He spends his leisure time playing golf.

Motta Jr. is not only well aware that his Motta Agencies have been a success, but that it’s a life plan, based on his personal values, that seeks to distribute products efficiently to in­ crease the well-being and quality of life of people, using technology in the management of supply chains and client service. Motta’s mission has re­ mained unchanged: to be a company that exemplifies social responsibility and commits to adding value for [the benefit of] its shareholders and those who cooperate [in its endeavors].

Today, Motta Agencies are lead­ ers in the distribution of luxury pro­ ducts. Motta Jr. always defended the importance of maintaining a spiri­tual balance, because he consi­ ders that “when a person moves in the mael­ strom of business one may lose ma­ terially; if there isn’t a spiritual basis, nothing that you do will fill your life, neither will you have the peace to be a successful person.”

His success story shows that it’s a race of resistance, but also one of persistence, if one is to attain one’s dreams and goals in life. We can sum­ marize it by saying that the key is be­ ing the best version of yourself each and every day, [living it] with passion, love, and patience as one does what is at hand, no matter whether it be for personal or professional reasons. incae Alumni Magazine

25

More volunteering

incae 50 years

Keep on

dreaming the incae dream By Vicky Santana

Remeber that the significance of the individual is most important.

Guatemala

Jenaro Sánchez’77

W

hen they set out to create the incae Alumni LinkedIn Group in 1996, together with Jorge Arias, they only had a very limited graduated e-mail database, and no choice but to hope this contact me­ thod worked. Today, with a more sys­ tematized platform, and all the resources the internet and social and professional networks offer, the total of graduates linked to the incae Busi­ ness School Global Alumni Network has risen to 3,000. This number is sure to continue growing, thanks to the work of the members, motivated

by Jenaro Sánchez, who serves as chief administrator of the burgeoning group.

This Nicaraguan, who re­ ceived his engineering degree from

26

incae Alumni Magazine

previous education: Chemical engineer, University of the Pacific, California incae: mae´77 current position: Research and consultancy

in the field; Honorary Professor. Guatemala

more volunteering

SPOTLIGHT

This global perspective on society, family and companies, which I didn’t have before I was in INCAE, was something that changed my perspective on life.

Jenaro in his house in Guatemala with his family.

INCAISTA

the Uni­versity of the Pacific in California, United States, and later completed his mba specializing in banking and finance at incae, is the heart and soul of the group. A busi­ nessman with thirty years of experience in various sectors, mainly in the chemical industry and cement production, has been able to combine his professional job - now as a business consultant - with the volunteer work he carries out not only with the group of Incaista graduates but also with other education related causes.

He married Rosalourdes in December 1975, taking advantage of the Christmas holidays and permission from the cement company where he worked. Jenaro’s family life has been enriched by his three children, aged 35, 33 and 28. The two oldest, both boys, were born in Nicaragua, but came to Guatemala when very young. The oldest, who is called iii, is a computer expert; the middle child is an indus­ trial engineer and the youngest, a daughter, “my chapina (Guatemalan) daughter”, who according to Jenaro was born in Guatemala “as a reward and a ray of hope,” he proud­ ly exclaims. However, his life continues to give him more prizes, as he enjoys spending evenings playing with his

two grandchildren: Santiago who is 17 months old and Ana Paula who is just three months old.

Although born in Nicaragua, life took Jenaro off to Guatemala for a couple of years, where he eventual­ ly settled and put down roots. How­ ever, Nicaragua became his business headquarters and starting point for all work-related travel related to cement and exporting fruit. In those years of business traveling, his wife, who was consul of Nicaragua in Guatemala, de­ voted herself more earnestly to caring for her children so that the temporary absences of their father didn’t affect them. Jenaro recognizes that this de­ dication was instrumental in the up­ bringing of his children, “as usually happens with the presence, firmness and love of mothers. It is very difficult

Live incae, be incae the institution opened up a world of knowledge to them through lectures, but also introduced them to a field of people with a diverse range of backgrounds and ​​ experiences, and they enjoyed all the activities offered by the campus — including the parties. They grew up and matured here and this produced camaraderie and strong ties. Jénaro Sánchez.

incae Alumni Magazine

27

incae 50 years

bringing up children company with its staff and goals is nothing As Incaistas without the support we’re called on to like an assem­bly line, as it requires a lot of and involvement of show the proper dedication and leadership to ensure that each both parents,” he notes. employee, each customer and supplier are way to do business, “When I was at home, pleased to be there making their dream a real­ to clearly and ity. And when that happens the partners and I tried to give the best I stakeholders will also be satisfied.” could in terms of qua­ transparently demonstrate that “That global perspective of society, lity and quantity, and be family and companies, which I didn’t have present at the most im­ ethics, business and portant activities of the values ​​are still in before I went to incae, was the element that children.” changed my perspective on life. Everything fashion, and that These days he’s there’s no technology made more ​​ sense and gave my life more of a more relaxed, because ‘mission-like’ quality” he enthuses. in the world which the business consult­ The motivation in his work with the can replace them, ing he provides gives network of incaístas on LinkedIn is to make it although attempts him more time to spend a support group strong enough to bring gradu­ ates together, and to connect them with their with his family and al­ have been made. lows him time to enjoy alma mater. Jenaro spells out exactly what his hobbies - music and reading. He is he means: “A prestigious educational institution needs to committed to the incae Alumni Net­ build and consolidate a strong relationship with its pro­ work as a way of giving back some of duct, which is us the graduates, especially in the case of incae, because we’re present in over 56 countries, and in what the institution gave him. “incae marks an important all sectors of the economy across all professions imagin­ point in the lives of everyone, or near­ able, and in the segments of society where they often make ly everyone, who went through the decisions that affect the lives of our countries.” two-year ‘process’. While those of us “Many of the Incaistas that are part of the group are who got a university degree in science very conscious of the fact” Jenaro says, “that the impor­ and technology generally have an tance of the individual is paramount. Yes: they work hard, affinity with the rigorous manage­ they make a living from their profession, earn money and ment style taught at incae, we always create their own success; but there’s a higher cause that require a little bit of that crucial ele­ calls on them to offer their help- which means putting all ment nece­ssary to make the demands their values​, talent and knowledge at the service of an or­ easier to digest and more effective. At ganization, that in turn projects those values out to society the end of the day, the progress of the in general and the country where they’re based. They are 28

incae Alumni Magazine

more volunteering

Exchange experiences

professionals looking to improve their impact on business.”

Why does such a strong bond with incae exist, despite the fact that many graduates have completed their studies many years ago and now they’re fully absorbed in their profes­ sional lives? For Jenaro the answer is simple: the institution opened up a world of knowledge to them through lectures, but also introduced them to a field of people with a diverse range

SPOTLIGHT

of backgrounds ​​and experiences, and they enjoyed all the activities offered by the campus — including the parties.

They grew up and matured here and this produced camara­ derie and strong ties.

This is also perhaps why, despite them all now being professionals fully engaged in their work projects, the gra­duates find the time and make the effort to join, stay uni­ted and mutual support each other, celebrate graduation anniversaries and be attentive about the developments and needs of their alma mater. “People who volunteer are in­ variably the busiest people,” says Jenaro.

That’s why the group is so active and has such high participation levels. lt communicates by LinkedIn and has a blog which allows people to exchange experiences http:// incaistas.tumblr.com/ Jenaro concludes: “As Incaistas we’re called on to show the proper way to do business, to clearly and trans­ parently demonstrate that ethics, business and values ​​are still in fashion, and that there’s no technology in the world which can replace them, although attempts have been made.”

For this reason, he never tires of inviting graduates to “keep dreaming the incae dream.”

incae Alumni Magazine

29

incae 50 years

Eduardo del Carmen’81

Miami

Multiplying Factor If each class of incae graduates form an assistance fund like mae xiii, thousands of students would benefit, and also Latin America as a whole.

In 2014 the fund aims to collect By Vicky Santana

US$

50

thousand

A

grain of sand from everybody can make a formidable mountain,” says Eduardo del Carmen with convic­ tion. With this comment he alludes to the work ac­ complished by the mae xiii Honor Fund something he’s been actively involved with since 2007. Its main purpose is to raise funds to financially assist Central American stu­ dents interested in continuing their studies at incae.

This economic fund, set up by six graduates of incae mba class 1981 -Roberto Cuevas, James Tefel, Ana María Herrarte, Leonel Rodríguez, Esteban Brenes and Eduardo del Carmen- receives 90% of its donations from the mem­ bers of the class and 5% from the companies where they work. So far, six students have benefited, and have been able to complete their studies.

The promoter Eduardo del Carmen was born and raised in Nicaragua. His father was Nicaraguan and his mother from the us. He com­ pleted his degree in administration at the Wake Forest Uni­ versity, North Carolina. He entered incae in 1979, where he received a Masters’ Degree in Business Administration in 1981.

A year later Eduardo married María José Caldera, fin­ ished his studies and started working with the First Na­ tional Bank of Chicago in their operation in Panama. He then moved to Venezuela and Miami. This was the begin­ ning of a successful career in the financial industry, which 30

incae Alumni Magazine

previous education: Business Administration from Wake Forest University, North Carolina incae: mae´81 current position: partner and director of Darwin Capital LLC. Miami, Florida

more volunteering

SPOTLIGHT

led him to occupy important posi­ America; to give back to incae in gratitude for what we had tions in organizations including Wall received; maintain a common bond with our alma mater Street Securities, NationsBank, Na­ and keep in contact with our ex- classmates. “We managed tionsBanc Montgomery to convince 40% of the class members Securities, among others, to help during the first year, and we I invite INCAE in Miami, Florida. Since graduates to form a fund raised us$20,000. We decided that our part, what we raised, was not going to 2003, based on his ex­ to help the education perience in investment be given as grants or gifts for students of other people; it’s banking, he runs his own but as a loan, which should be repaid time for us to apply firm: Darwin Capital llc, within four years after they graduate. the CSR principle incae, which contributes to the fund, in Miami. It provides agreed to donate a dollar for every strategic and financial we were taught. dollar we raise. The incae contribution advice in mergers and ac­ quisitions for local, Central American, is a donation that students don’t have to pay back,” he says.

Caribbean and Andean companies.

Thanks to this premise fund donors have been able to better Today, he’s still married to his manage the resources, which will benefit a larger number teenage sweetheart, with whom he of students. has three children: Elizabeth, Eduardo The beneficiaries receive a loan of us$4,000, plus the incae grant.

Humberto, and Andrés.

“The proceeds of the fund have increased gradually, Del Carmen balances his work, which is now more flexible time wise, and in 2013 we set ourselves the goal of raising the total to with his family life and passions, such us$41,000, given that there were 41 members. We reached as golf. He has played since he was this figure in December 2013 and we’ve been able to sup­ eleven and has represented Nicaragua port six students in the region,” he says with pride.

Del Carmen says that the six members of the orga­ in international tournaments. nizing committee share the task of asking for contributions For young people in Central America from other classmates in their respective countries. To date, “The initiative to create the assistance 50% of graduates from mae xiii have contributed to the as­ fund came in 2006, when our class re­ sistance fund. united for our 25th graduation anniver­ An objective the group has is to talk with other gra­ sary celebrations. On that occasion, duates to encourage them to replicate this effort and to Roberto Cuevas told me his idea about​​ create a fund with the name of their class. “If every class creating an assistance fund. I seconded establishes a fund we’ll have more than fifty funds, and that it straight away and got in touch with would make all the grains of sand into a huge mountain. It’s other graduate friends from mae xiii, an idea we have and want to promote, and incae is also en­ who made ​​the first collection round,” couraging it,” he concludes.

For him, as for the other members of the fund’s orga­ he recalls.

There were four objectives: to nizing committee, it’s never been so clear that being united promote business education in Central makes them stronger.

50 %

of mae xiii graduates have contributed with donations.

Our mission for the fund is to contribute to training young people in Central America. incae Alumni Magazine

31

incae 50 years

A life Efraín Vieira’94

By Vicky Santana

plan

Ecuador

The life of this incaista-ecuadorian, today President & ceo of the Banco del Pacífico (the Pacific Bank), shows us why we are by what we think and dream.

I

t’s kind of difficult to believe that a once “agitator” humbleness and the simple man that of some twenty years ago now occupies the highest he is, now in his 50s—traits which have position at one of the most emblematic Banks in remained unaltered since boyhood.

Ecua­ dor: the Banco del Pacífico. He has He was born in achieved this step by step, slowly but sure­ Baños de Agua Santa, I believe in team ly, although his first years abounded in di­ a small tourist resort work and that more fficulties and unexpected events. He did located at the bottom than having brilliant this without having to do it at someone of the Tungurahua vol­ people, what we need cano, 40 kilometers else’s expense, but with the conviction that from Ambato. When what one proposes, one is able to achieve. are people that are loyal and committed. he was five, his pa­ We do well to mention his belief in team rents, then university work, and that professors, moved from this town to­ what’s most needed is not so wards Guayaquil, seeking better work much as having nerds, but peo­ ple who are committed and lo­ opportunities. Compared to their lar­ yal to their work. ger house in Baños, their home in Gua­ Just to see him pass by yaquil was of modest size, made out of various areas of the Bank’s head­ adobe, where they shared it with five quarters in downtown Guayaquil other families. The welcome to his first (Ecuador), and to enthusiasti­ day at school is remembered by a se­ cally shake hands with a se­ rious head injury inflicted by the very curity guard or with the students themselves. Despite the diffi­ cult times and dramatic events, Efraín cashier or the lady that takes it all with a pinch of salt. His serves the coffee, tells of his previous Education: Electrical Engineer

from the Escuela Superior Politécnica del Litoral (the Polytechnic) incae: mee´94 current position: President and ceo of Banco del Pacífico, Ecuador

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But above all, it’s all a matter of interpersonal relationships, and networking will help to an extent. courageous character was most proba­ bly shaped thanks to the challenges and situations he faced in life, which he was able to overcome and to forge a better future for himself and his loved ones in the country of his dreams.

He studied Electronic Engineer­ ing at the Escuela Superior Politécni­ ca del Litoral (Polytechnic) where he also did a Master’s in Administration.

He pursued further studies at incae, where he completed his Master’s in Entrepreneurial Economics in 1994, at the Costa Rican campus.

Efraín Vieira on the beach, with his wife and two of his children..

As a university professor at the Polytechnic, a friend working in the fi­ nancial sector compelled him to leave education—a career remembers facts and anecdotes that of which he has the fondest memories and to which he hopes have left a mark in his life. From to return some day—and to enter the financial arena where these stories, we discover the inner he augured himself a better future. His friend’s initial per­ traits of this life, which go beyond his ception was right. He joined the insurance sector and from appearance. there jumped to banking, where he continues to work to the How do you define yourself?

I believe in team work and that pre­sent day. One of the major challenges he faced was when he was appointed Quito’s General Manager (2010-2013) of more than having brilliant people, the Banco del Instituto Ecuatoriano de Seguridad Social what we need are people that are lo­ (biess), the country’s social security entity established by yal and committed. I’m not a know-itPresident Rafael Correa, an institution in charge of managing all person and believe in people that the country’s social security funds. His work earned him im­ are really committed, loyal, and who portant acknowledgements and commendations nationally. aim for big goals. I’m the sort of per­ He attained this position through merits, after com­ son that when I want something, I get peting with a thousand other candidates for the position. it. Once, when I was studying for my He built the bank from zero to give it identity and structure, Master’s at incae they asked us to making it a financially solid institution which administers write a life plan. I was only 29 years 67% of Ecuador’s mortgage market. Patently, he shares Pre­ old then. So I wrote what I wanted to sident Correa’s vision for Ecuador, whom he knew since he do and I even wrote my epitaph. I left was a child and also as members of youth groups. There’s it in some drawer, but three years ago no doubt that Efrain has great admiration for the President’s when I was moving to another place, I found it and was able to ascertain that government plan.

In his capacity as President and ceo of the Ban­ every one of the things I wrote then co del Pacífico, and in his usual calm and serene way, he has so far been fulfilled… incae Alumni Magazine

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incae 50 years

One of his passions: He plays the saxophone.

How many are you are there in your family?

I’m married and have five chil­ dren: From my first marriage, there’s Pablo, who’s 18, and Isabela, who’s turning 15. Then from my second ma­ rriage there’s Ana Paula, who’s 6, and Efrain, who’s 3, and we have a baby due to be born next June. I love children…

Apart from work, in what other way do you like to spend your time?

I love to share as a family… I like to play the sax. I play tennis every day from Monday to Saturday from 6 to 7 in the morning. I like to meditate.

I also love cycling and rafting. The lat­ ter helps me to relieve stress. In all, sports is a good way to keep healthy and remain fit as a fiddle. I love to read what comes across my way, but with a focus on history.

Tell us about a person in history that has inspired you …

Yes, Simón Bolívar, and all his great feats in bringing indepen­ dence to Latin America. I also have a passion for the life of Ernesto Che 34

incae Alumni Magazine

Guevara… and when I can, I also like to visit Cuba from where such ideals have sprung. During my younger days as a university student, I was vice president of the student federation.

In your opinion, what’s the secret to success?

To have a balance in one’s life, but also with others.

To dream big, to set high goals, and to visualize what you want to be. Luck has a part to play, because at times one has to be at the right place and the right time for things to be given. But above all, it’s all a matter of interpersonal re­ lationships, and networking will help to an extent. I do be­ lieve in respect and in treating others well… I don’t think I’ve harmed people, and when I’ve had to make difficult de­ cisions, I’ve always tried to be just and to treat others as I would like to be treated.

For you, what does it mean to be happy?

Happiness is the unceasing pursuit of human beings, which never ends. It’s not easy to understand that happi­ ness has to come from within oneself and not externally, where humans tend to seek it. It’s neither in the family nor in the money or success we may have; it’s intrinsic, it’s a matter of building happiness from within.

What about your search for serenity?

I practice meditation. I’m taking classes from an American-Philipino known by the name of Master Del Pe. He has tried to mix oriental phylosophy with western en­ trepreneurial themes. He mixes a bit of chi kung, but not so focused on martial arts but on energizing and aligning the Chakras.

We’ve been able to see your good traits, but what about your defects?

I’m a perfectionist. I get discouraged easily when people fail me. It hits me when I perceive wickedness in people, I hate that. I’ve tried to be an entrepreneur, but it has been very difficult for me. In effect, I tried to start two small businesses, but they didn’t work out.

You’ve had a successful career in a relatively short period time. What other dreams remain to be fulfilled?

I want to achieve what the founder of Kentucky Fried Chicken once achieved when he was 50. He hit the mark, when he finally built the business and to make it the way we know it today, truly a world-famous trademark. I would like to leave my children and grandchildren with a mean­ ingful legacy. I would like to manage a business of my own in the future.

young people in senior management

It’s not easy to understand that happiness has to come from within oneself and not externally, where humans tend to seek it.

You were given a good education. Do you think it has been the basis of your success?

Evidently so, as my training and learning at incae gave me a wider vision on entrepreneurial themes, as well as the tools to make better decisions.

How did you get to study at incae living in Ecuador?

It’s what I call the boomerangs of life … Some years ago the founder of the bank I now work for offered me a grant to study over there, through a foundation he adminis­ tered. So I went to Costa Rica. I was already married, it was my first marriage but we didn’t have children then.

How was it at incae?

I believe those were the best 18 months of my life.

Firstly, because I love studying. The spirit of friendship was great, but also thanks to the quality of education I was getting, as I was being taught by world class professors. I have special memories and admiration for Professor Pedro Raventós, whose classes were spectacular … and I remem­ ber him as if it was just yesterday; I also remember Dr. Ar­ noldo Camacho, a genius in mathematics and econometrics … he would write on 10 boards, without a worksheet in his hand. I should also mention Dr. Francisco de Paula Gutiérrez, Dr Nicolás Marín, on finances. Point blank, all classes were just super.

Where do you see yourself in five, fifteen…thirty years from now?

Having my own business in five years from now; managing my own company in fifteen; and, retiring in thir­ ty years hence Forth.

Aren’t you tempted to enter into politics?

It’s always a temptation. I’m attracted to it because it’s about serving others, but it’s always something very com­ plicated. There are many factions and parties managing di­ fferent interests. It’s something very difficult to reconcile.

If you were offered a cabinet position in the current government, would you accept it?

Yes, although I would have problems with the “boss” [he laughs].

What do you think of Ecuador’s economic model?

I agree with President Rafael Correa in that this isn’t a time of change, but a change of time. The “tortilla” has

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been flipped in the search for bene­ fitting the human above the material, hence improving the conditions of the needy, building progress … in crys­ talizing the dream of a united Latin America.

What is family for you?

My “cave” of peace.

Politics.

The fight for the well-being of others.

Religion.

For those of us who believe, a place of [moral] support.

Knowledge The only one thing one takes to the tomb.

Work.

A means of survival.

Social responsibility.

To be thankful and empathetic with those surrounding you.

Life.

Fleeting.

What message about life would you give any one of your children?

Being number one is no longer what makes me happy… what real­ ly makes me glad is for him/her to be happy. That’s what’s really important.

I leave Efraín Vieira, while he looks through the big window in his office toward the Guayas River, which looks serene and majestic from those heights, but also seemingly still and earthly in color. Yes, the “agitator” of twenty years ago will most proba­ bly be in a few years’ time a success­ ful entrepreneur… a learned professor of some famous business school…or a cabinet minister…or may be even the President of his country. It remains to be seen what he has written about his future destiny for the prediction to be fulfilled. incae Alumni Magazine

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incae 50 years

Guatemala

Yara Argueta’05

An indefatigable

mentor By Claudia Contreras

The only time things hap­ pen is when leaders influence people, when they provide guid­ ance to people. Nothing’s going to happen if there aren’t leaders doing things. It’s the foundation for all kinds of change, improve­ ment, and development.

T

his phrase comes from Yara Ar­ gueta, the young Guatemalan ceo of Grupo Solid. It perfectly encap­ sulates how this talented executive thinks, and her strategy to leave her posi­ tive mark on the world.

She loves being number one, like when she achieved the Summa Cum Laude in her industrial engineering de­ gree from Universidad Rafael Landívar, or when she was awarded the Valedictorian High Distinction, the highest academic graduate recognition available at incae Business School during her Executive mba. She believes in constant training, in empowering her managers, in dedicating

young people in senior management

time to learning in her company. “You must designate time for learning, and let [the executives] make their own mistakes, make their own decisions, and review the processes of each in­ dividual. We must allow them to take action, to believe, to grow as pro­ fessionals and most importantly, to in­ spire them” she explained.

Every so often, she checks the case studies from incae with her managers. Her planning meetings in­ corporate a revision of the cases she’s kept since 2002, when she was study­ ing for her master’s degree. “If I’ve got a planning meeting, I’ll get my notes, briefcase, grab my cases and then share and discuss them,” this mentor explains. She’s also vice president of the Vital Voices Guatemala chapter, an ngo founded by Hillary Clinton for the training and motivation of women leaders in Central America.

“There are few women leaders in the business environment in Guatema­ la, as a direct result of the lack of wom­ en setting their minds on achieving this goal,” Argueta says.”There are many women, who if they commit to achiev­ ing a goal and sacrifice the things they need to sacrifice, will succeed. In ur­ ban areas of our country, women can achieve whatever they set their minds on, but they have to make sacrifices, put in the effort and work hard. In ru­ ral areas, a combination of idiosyncra­ sies, education, and opportunities has slowed down development,” she adds.

Argueta was very young when she was studying for her Execu­ tive Master’s degree. Everything she learned she applied dutifully: “When I did the Executive Master’s I’d study each week and then go back to work, and put what I’d learned into practice.

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Previous education: Universidad Rafael Landívar, Industrial engineer, Summa Cum Laude incae: maex´05; cali´09 current position: Executive Chairman, Grupo Solid s.a.

Guatemala

You must allow executives to take action, to believe, to grow as professionals and most importantly, to inspire them.

Yara Argueta in Mujeres 360°

It was all new to me. I applied a lot of what I learned then.” Planning, know­ ing how to anticipate what may hap­ pen in a business, applying practical tools, being prepared for experiences that will happen throughout your ca­ reer, are all things she had read about, and has now experienced in day-today situations, following the years she spent studying in incae. She rose quickly in the business, held senior positions in the group, and tripled sales in just three years.

As ceo of Grupo Solid, the leading company in the paint and coatings market in Central America, she’s achieved sustained double dig­ it growth and expanded the business horizontally. She leads 1,500 collabo­ rators in Central America, has grown

This Guatemalan executive and tireless scholar knows how to inspire others with her natural leadership style incae Alumni Magazine

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incae 50 years

If women set their minds on something they can succeed, but they need to make sacrifices, put in the effort and work hard. paint production capacity to 26 million gallons per year and has driven the ex­ pansion of the business from Guatema­ la encompassing production, design, research, innovation, logistics and cus­ tomer care. In the medium term, she wants to increase sales in Mexico.

According to Yara, the changes a leader can implement are quantifi­ able in terms of profits, but motivation is what affects the final result the most.

This is why she’s a visible and admired leader both within and outside her country. This year she’s been selected as the distinguished graduate of incae for her capacity for transformation, her personal value and because she reflects the mission of the institution. “We’re a company that creates very good busi­ ness people, who stay at the company and who also go onto other companies.

Lots of people have worked with us, and they’ve demonstrated exemplary performances, thanks to the training we provided them,” she underlined.

The passage through Harvard As part of the World Economic Forum’s Young Global Leader group, Argueta studied Global Leadership and Global Policy for the 21st Century at the Har­ vard Kennedy School of Government.

“It covered negotiation, leadership, and two subjects I studied in the incae masters, with other cases, but the lev­ el is the same. The negotiation compo­ nent is at the same level with the same components being taught. The added value is that it has the Harvard brand.

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Yara Argueta leads

This experience reconfirmed what I already knew- that incae is a great institution, “said Argueta.

The professional growth employees in she achieved in Solid gave her Central America greater visibility in the Gua­ temalan business world. “Be­ cause we’re so few women it’s opened lots of doors for me,” she stresses. The incae Exe­ cutive Master’s also helped her form a better business net­ work. “It’s great for business, advice and contacts. Another positive point is that thanks to it being both local and re­ gional, the contacts you make are all from this region,” she added.

Argueta is part of the National Committee of incae and this letter of presentation has also helped entry into fo­ rums more easily. “Being part of incae and linked to this institution has been an excellent platform for me,” she add­ ed. As her passion lies in mentoring, she has become more involved in Vital Voices. “We can influence more women, connect them together, with the ultimate goal being the de­ velopment of countries. The roi for investing in women is very rewarding and you’re able to support their family, as women are multi-taskers. Development of women means to invest in different avenues. If you can get the other half of the population to develop like men, you will be able to de­ velop countries,” she ensures.

Argueta finished by saying that the opportunities for women in business are there waiting for them and that they need to be brave and courageous to face the challenges.

1.500

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An executive with lots of

miles on route Costa Rica

Gastón Monge’96

The ceo and chairman of Grupo Monge tells us how a family busi­ ness became a Multilatina.

T

he minimalist style and simplicity of Gastón Monge’s office give clues of to the new management methods he employs. His friendly demeanor, modern style and direct use of language all confirm this fact, and give away his young age: just 43 years. He’s been the ceo and chairman of Grupo Monge, the company founded by his fa­ ther in 1971.

Grupo Monge has

450

By Luis Diego Quirós

Gastón Monge leads a Costa Rican conglomerate, specialized in the sale of technology and household appliances.

stores

in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Peru. previous education: Business Administration at the Universidad de Costa Rica incae: mae´96 current position: CEO of Grupo Monge. Costa Rica

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I’m the only one of four brothers who works in the business and although we don’t always agree on ideas, as we’re not clones of each other, we do share the same vision for the business.

40

This Costa Rican conglom­ erate, specialized in the sale of technology and household appli­ ances, boasts more than 450 sto­­ r­ es in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Peru.

Under the leadership of Gastón, Grupo Monge ventured across the borders of its home country to start operations in Ni­ caragua fourteen years ago. Four years later it opened in Hondu­ ras, and in 2006 it completed ne­ gotiations to acquire the Prado company in El Salvador. At the same time it also opened in Gua­ temala, and last year launched the business in Peru.

This businessman, who graduated from the incae Busi­ ness School in 1996, points out that part of his professional growth is due to the company’s family protocol, which forced him to gain managerial expe­ rience before he was able to take up management po­ sitions in the group. Be­ fore enrolling in this educational institu­ tion he worked for three years at the Banco Interfin, and after graduating joined Grupo Promerica, before moving on to head up the expansion project for the fa­­mi­­ ly business.

“The subject of family businesses is where incae had an important influence.

With Professor Esteban Brenes we’ve implemen­ ted a planning process where

incae Alumni Magazine

we’ve perfected the family protocols.

These define the requirements any family member who wants to work in the compa­ ny must have work for three years outside the business, obtain a postgraduate degree and then work for a further three years pe­ riod in another company. Only after meet­ ing these requirements can they join our group,” he explains.

New stage With an uncomplicated speaking style and casual attire, the conversation with Gastón Monge flows easily. He doesn’t see himself as a “bossy” and intimidating chief, but as a leader who tries to convince his team to obtain better results. Youth has not been an impedi­ ment to success­fully lead a Multilatina which competes for the tastes of consu­ mers from six coun­ tries. 43 years may sound like too little a number when talking about executive management, but in practice reality is very different. “They’re 43 years well ‘worn’, what I mean is that this wasn’t some­ thing I just woke up and fell into one day, I’ve had a lot of experience working with bosses who are neither family members nor my father.

The big advantage of youth is that you have a lot of energy and stamina for work,” he says with a smile.

young people in senior management

His passage through incae meant a new stage in Monge’s life, as he met his wife Ruth Zavala there. “She finished her studies and returned to her native Nicara­ gua to work with her father. She spent a year there and then we got married. We lived in Costa Rica for a year and then we traveled to Nicaragua together to spearhead the regional expansion,” he says.

The nationality of his wife had ab­ solutely nothing to do with the decision to live in this neighboring country- he says with a mischievous smile - but initially Gastón was, for all intents and purposes, the only person managing the business in Nicaragua, and she helped him start the company there. “When we were starting out, the goal was to minimize expenses. It was a good combination of talents to help achieve this goal, because she is very orga­ nized and is an expert on accounting top­ ics, while I’m more commercially focused.

Thank God the company grew, and she de­ cided to focus her efforts on raising our children, but she’s certainly been instru­ mental in the growth of both the business and my personal accomplishments,” he ex­ claims proudly.

In 2006 he assumed the executive management of the group from Nicaragua.

By then he’d already opened sixty stores in the country, forty in Honduras and the company had recently acquired a chain with over fifty stores in El Salvador.

Whether it was because of his per­ sonal qualities, education or business knowledge-even he can’t pinpoint the exact reasons why- he was unanimously appointed as ceo for the group, something which he is very grateful for, and he is espe­ cially thankful for the support he received from his father and his brothers. “I’m the only one of four brothers who works in the business and although we don’t always agree on ideas (as we’re not clones of each

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other) we do all share the same vision for the business,” he explains.

Leadership in the face of challenges The enthusiasm the businessman feels when he talks about good interna­ tional management changes, little-by-little, and his face becomes more thoughtful, as shortly after the business boom the global financial crisis hit, which was a test for in­ dustries across all sectors.

As a result of planning, innovation and hard work, the enormous challenges of the period were actually opportunities, and resulted in 2010 being the year when the group’s growth and expansion plans were put into motion again. Two years later the process to open stores in Peru began, which came to fruition in 2013.

“On a global level, retail as a whole is experiencing very challenging times due to a decrease in the number of visits, and this is where our innovation and creati­­ vity enters into play. Our board, where five of the eight directors are external mem­­ bers, permanently reviews processes and sales strategies, and it is important to un­ derstand where the industry is going. We are already implementing concrete actions on the ground, but new challenges arise every day,” he notes.

In addition to the work carried out by the directors, Gastón Monge empha­sizes that the most important element is the in­ ternal team in each country. Senior mana­ gement is fundamental for the company and highlights the importance of innova­ tion and creativity for our leaders. “We have many employees who during their daily functions just focus on their imme­ diate work and forget about the future stra­ tegy. That’s where I come in, to convince them that we must make changes to face what’s coming in the next few years. It’s a very intense process,” he concludes. incae Alumni Magazine

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incae 50 years

Music

and Business

Costa Rica

Manuel Zúñiga’98

By Luis Ernesto Solís

Yes, these have been two aspects that have marked the life of our incaísta Manuel Zúñiga, the ceo of the Costa Rican Cuestamoras Group, which have made him the person that he is today.

R

ight from the start, music has always been a part of the life of Manuel Zúñiga, the ceo of the Cuestamoras Group. His father was an orchestra director; hence, music was very much instilled in him from early childhood. “I started playing the French horn with the National Sym­ phonic Orchestra of Costa Rica since the age of 7. I played with the Orchestra until the day came when I had to decide which path to take: if to continue with music or search for new horizons,” he recalls.

His father shared with him the extraordinary world of music, but also the fact that it wasn’t an easy environment, “and so for this reason I felt inclined to read law at univer­ sity. Even so, music has always been an inherent part of my life and I be­ lieve I’ll never part from it.” He real­ ly experienced great moments while previous education: Law, Universidad de Costa Rica incae: mae´98, graduated with honors current position: ceo of the Cuestamoras Group, Costa Rica

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young people in senior management

studying law, “but my heart was telling me to move a step higher, something more focused on business, were I felt I had a better future.”

The Choice At this point, Zúñiga felt that his career was go­ ing to take a turn for the best, so he explored various other possibilities: “I had a good number of options as far as universities were concerned, and I could study either in Europe, Central Ame­ rica, or South America. Nevertheless, I opted for incae as in my opinion it was the best place for me to become a better person in all aspects.”

This top executive clarifies that his deci­ sion was based on two questions: How difficult was it for a lawyer to be at incae? And, in what way could the university contribute to his fu­ ture? Responses were varied: “The people I knew that had studied at incae told me two things: it didn’t go well for lawyers, but the campus was excellent. Further, they noted the great learn­ ing environment in classrooms, as well as with peers, and that the studies became the best tools for life. So, although I was already a lawyer, I had

We see many opportunities opening up in Central America. We know of the complexities of doing business in the region, but we are able to manage them, which gives us an added advantage.

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no doubt in my mind that becoming an incaísta was the best decision,” he noted.

Thanks to his studies at incae, he joined the Corporación de Supermercados Unidos (csu). “It’s been a really interesting journey, where there were deviations but also there were times when I just “stopped and got out of the car” to watch the distant scene before me. Undoubt­ edly, I thoroughly enjoyed the journey, but it wasn’t just a one way, quick journey,” he retold.

Multinational and family business While working at csu, a family business, the us multinational Walmart crystalized the purchase of the Group. Zúñiga believes that the two models differ much. “Working for this multinational, I realized what it was to work with discipline and order, characteristic of a great organization—best practices that can be implemented in any family business so as to make it more professional,” he noted.

As to family businesses, he points out that there should be closer contact with partners, and there should be a more realistic perspective.

“The greatest challenge facing a family business is the matter of succession. The greatest enemy is life, because we become adults [and get on in years]. So you have to figure out how you are go­ ing to exit the business. Naturally, the success

Manuel Zúñiga with Arturo Condo, the Rector of incae, during the 7th International Meeting of Incaístas.

incae Alumni Magazine

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incae 50 years

of succession depends on how well prepared the business is [to face the issue],” he expressed.

After his experience in Walmart, Zúñiga decided to join the Cuestamoras Group, a busi­ ness enterprise belonging the Uribe family, the former owners of csu. “It was very interesting for me to see how the business was set up. For a family business like csu, it is normal for fa­ milies to take the sales money and to channel it for their own activities; but this family decided to join capital and continue investing as one. In addition, the partners focused on long-term in­ vestments. They wanted the business to last for more than 100 years and that vision would con­ vert it into a business that’s going to go a long way and grow significantly,” he added.

One limiting factor of this [particular] business is that it couldn’t get into the short-term retail business, because of the negotiations with Walmart. “If all of us new something, it was the

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retail trade, but that door was closed; so the first investments were done with the stock exchange.

We also took advantage of the great infrastructu­ re that csu had, such as the big stores, which Walmart rented; two hotels and an agroforestry reserve. We “ordered” our assets and then fo­ cused on diversifying.”

Although they’ve sought to diversify their investment portfolio, they don’t get into any business they don’t know of. “It’s no secret for anyone that we move around the retail circles, our main trade, like the logistics and distribu­ tion centers, and other types of business—sec­ tors in which we move and consider ourselves to have the necessary expertise. I should also men­ tion that we aim for well-established companies.

Although the statistics show that 75% of take­ overs are not successful, we are not affected in any way by that. As far as startups go, we don’t have the capacity to finance them,” he argued.

Internationalization is also on the agenda of the company. Zúñiga points out that they are a multicultural organization and hence they have the ability to grow internationally and be success­ ful: “We see many opportunities opening up in Central America. We know of the com­plexities of doing business in the region, but we are able to manage them, which gives us an added advan­ tage. We’ve also explored possibilities of doing business in South America. Ecuador, for exam­ ple, is an ideal country, since its culture and ways of doing business are very simi­lar to the way we do things in Central America.”

Concerning human resources, Zúñiga says they are looking for people who have mul­ tifunctional talents. “They have to be cha­ meleon-like in what they do, and to handle wisely whatever challenges come their way.

He who doesn’t like ambiguity cannot work at the company. We are looking for people who are flexible in the environment they are in. We are not so much interested in their field of expertize, but rather in their passion for growth and im­ provement, people who are willing to cooperate and exemplify our values well. The whole theme

young people in senior management

LEAD PLAYERS

of values is one of paramount importance for our company,” he maintained.

Leadership Manuel Zúñiga emphasizes he is very happy be­ ing the ceo of the company, but he does feel the pressure of a family business that he is not a part of. “There’s no doubt that it’s a huge responsibili­ ty. Nevertheless, the company has been preparing itself for quite some time for this moment. The company’s focus on professionalism began a good number of years ago. Not one family owner, for ex­ ample, works at the company. They are dedicated to just being the owners, but none have a position in it. What’s worth noting is that all the members of the family, from the oldest to the younger ge­ nerations, all are aligned with this concept and are of one mind in this respect,” he noted.

The entrepreneur made special empha­ sis on the role played by Rodrigo Uribe, the ex ceo of the Cuestamoras Group, with whom he worked for more than 15 years. “Don Rodrigo is my mentor. The last year and a half we’ve worked together as the ceo of the company. It was a great learning experience. In fact, I became General Manager of the Company in January of this year, but he’s planning on extending the transition pe­ riod for two years in total. It’s a blessing to be working with Don Rodrigo Uribe side by side,” he explained.

To have two people act as ceo requires much trust among themselves. “We know each other very well. He knows the things I dislike and those I’m comfortable with. We both respect our limits, but I must say this figure is not for all companies, as it requires certain conditions for it to work,” he argued.

Goals One of the conditions that motivated him to accept this position in Cuestamoras was the fact that he could spend [quality] time with his family.

“Many of the maladies suffered by business men is the lack of balance between work and leisure time. One needs to have good life management

We still need to understand that behind productivity there are people of flesh and blood that have feelings and want to progress. skills. My family is an important part of my life, and I wanted to spend more time with them. The transition was very positive thanks to achieving a good work-life balance,” he noted.

One of the projects he carries out with his family during his free time is training a youth or­ chestra from one of the poorest neighborhoods of San José, the capital of Costa Rica. “My wife also loves music. A lady friend of ours approached us and proposed the idea of creating a youth or­ chestra at La Carpio. Without hesitation, we em­ barked on the project. Currently, I’m the music teacher of twenty young people between the ages of 10 and 12. I know we are making a real impact on the lives of those kids,” he said.

In addition, Zúñiga said that one of the goals within the company has been to value peo­ ple more. “incae gave us all the tools we needed when we graduated. We learned about market­ ing, profits, processes, methods and many other marvelous things, which have made us success­ ful. Nevertheless, in my opinion we still need to understand that behind productivity there are people of flesh and blood that have feelings and want to progress. We need to work more on the theme of managing emotions within the compa­ ny,” he concluded. incae Alumni Magazine

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incae 50 years

In black and white Colombia

By Vicky Santana

Marisol Arias’94

It is clear having studied at the German School (Colegio Alemán) in Quito (Ecuador), sowed in Marisol Arias the desire to be a citizen of the world, and her passage through the incae business school, with its multicultural emphasis, helped to focus her vocation for leaving familiar spaces and venturing out to unexplored areas.

T

his business administrator from Quito, with a mas­ ter’s degree in business administration from incae, has achieved important positions in the financial sector in Ecuador, United States, El Salvador, the Bahamas and now Colombia, where she is Financial Vice President for the multinational insurance company aig.

Her life has been governed by the values she learned in the bosom of her family: “My parents instilled in my sis­ ters and I the will to always fight and never give up hope, but also to be disciplined, generous and humble,” she says.

That was how her disciplined nature allowed her to be successful in her studies while she indulged in her pas­ sion for athletics. She knew that if she struggled and didn’t get good grades, she would not be allowed to remain on the

previous education: Business Administrator, Universidad Católica del Ecuador incae: mee´94 current position: Financial Vice President and CFO, AIG Seguros S.A. Colombia

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incae Alumni Magazine

track team, where she trained almost three hours a day after finishing her academic work. With equal discipline and dedication she devoted herself to studying business administration at the Universidad Católica del Ecuador and later to study her Master’s Degree in incae. She graduated in 1994.

When she was at the campus of the business school in Costa Rica she met her now husband, Enrique Perla, a Salvadoran who was studying for his mba. They married after graduation, and have three children who are 13, 11 and 7 years.

She worked for 18 years for Citi in the financial area of the corpora­ tion, starting in Quito as a financial

Discipline, balance, family and teamwork are the constants in the life of the incae graduate Marisol Arias.

young people in senior management

LEAD PLAYERS

assistant, then later have to work with people in Fort Lauderdale from across all disciplines. (us), San Salvador Studying with people from (El Salvador) and different nationalities, cul­ tures and professions helps Nassau (Bahamas), you have a more open where she was finan­ cial vice president. mind. I also made a lot Although the of Incaista friends there family enjoyed li­ that you run into every­ where. So you’re creating a ving at home in the very interesting network of Bahamas and en­ joyed the spectacu­ For Marisol Arias art is the best way for her to calm her mind. contacts. lar island lifestyle, Here is one of her oil paintings.

Furthermore, incae they began to ex­ opened up my interna­ plore new possibili­ tional career, I do think if Painting is the best ties in search of high I hadn’t entered incae I relaxation for your mind, as you quality education for would definitely still be in their children. Right can immerse yourself in a painting Ecuador, and I don’t know at this moment aig and leave the world behind. how successful I would Seguros called to of­ have been. fer her the position of cfo in Colom­ The key to success is to always try to learn somebia, which she accepted. She has lived thing, learn from everyone you know and know that you’re in Bogotá with her husband and chil­ not always right. Even those people in the most important dren since November 2013. Despite positions in the organization can be wrong sometimes, and being recent arrivals in the Colombian you must be open to learn from everyone and everything. capital, they have all adapted well to It’s also very important to have time to foster personal re­ lationships, because it’s a lot easier to work with a person their new home.

They are planning on staying you get along with. I love to coach, sit with people, talk in the country for a while, to give sta­ about their careers, their plans and their lives. bility to their children and to culti­ When I was a child I learned how to balance my vate good relationships which can be studies with my life. I was an athlete in college, but I knew maintained over time, just like with if I wanted to practice I had to have good academic grades, her school friends. We spoke to Mari­ because if you don’t do well they don’t let you on the team. sol Arias in her office in the north of I did athletics for most of my life; I was a sprinter, and that Bogota, and she told us some of the taught me how to work in a team because we ran relays and highlights of her family life. Here we trained very hard every day. Playing this sport helps keep summarize the interview in her own the body healthy, but even more important is that you’re words, in black and white. not tempted to go down the wrong side of life. It teaches What I most value about having you to have discipline and to work in a team. It also helps studied at INCAE, beyond the quality you to release tension. of its education, is that it teaches you The balance between work and family is very imto work with totally different people. portant. This is where discipline comes into play. Work, if In my class there were veterinarians, you allow it, can totally absorb your life. You have to define engineers, lawyers... It’s very useful the amount of time you’ll spend at work, and you have to as in any organization you’re going to try to fulfill yourself. Children grow up very quickly, begin incae Alumni Magazine

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incae 50 years

were little girls, my parents worked all day so we were in charge of the food. We would share the prepa­ ration of each of the dishes, every day, all summer. One of these days I’m going to take a year off to go and study an haute cuisine course.

I love cooking with my children, who share this hobby.

My biggest motivation is my family, knowing that they are well and happy. When I get home and they run up to me smiling, give me a hug and say that they love me, that’s perfect happiness. Happi­ ness is more than just professional success. It’s more a personal issue, because organizations grow and Marisol Arias, in her home in Bogotá with her three children. evolve with or without you, but the family always needs you. to find their own space and if you only Being a woman is no longer a limiting factor to rise work all the time life will pass you by in organizations, but you have to know how to raise your without your family. You hand, and know how to create a network of have to learn to delegate contacts to help you grow. Nobody’s going Work, if a lot and delegate well. to come looking for you in your office with you allow it to, can Balancing all asevery­thing on a platter... you have to be alert completely take over pects involves making to identify opportunities. your life. That’s why room for your hobbies.

What do I still need to learn? I’ve al­ the balance between ways liked law, and it’s something I should When my second son work and family learn, because one needs to know a lot about was born I started oil laws in business. Law governs all organiza­ painting. It’s a great way is so important. tions. One of my goals is to complete a diplo­ to relax, and allows me to leave any stress well behind. When ma in law, I’ll try to do it in Colombia.

My strength has always been the financial system I retire I’m going to devote myself to art, it’s lovely. Painting is the best re­ and I’ve worked in the banking industry for many years. laxation for your mind, as you can im­ Moving to the insurance sector is continuing to be connect­ merse yourself in a painting and leave ed to this industry. AIG is one of the largest insurance com­ panies in the world, and I’m learning a lot here. the world behind”.

A message to incae graduates: we can all help each Another of my hobbies is cook­ ing. I love to cook and I can do it just other and our communities. An incaísta should have gi­ving as well for one person as for five hun­ back to the community on their to-do-list. It’s very satis­ dred of them! I learned as a child, be­ fying to give your time to people who actually need you. I cause it was one of the skills my mom love getting involved in volunteer causes and I like to in­ taught us. In the summer, when we clude my children in them as well.

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Business School

Alumni Magazine No. 3, marzo 2014

alumni.incae.edu

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