2010 Spring : CEMS Magazine by CEMS

Network Events

Comment

bring CSR and Innovation to the table

change emerge from comprehensive report

LOUROPA AND NORDIC FORUMS 16 Students and Corporate Partners

LATEST ALUMNI SURVEY RESULTS 06 Young executives unafraid of

Network Events

CAREER FORUM â&#x20AC;&#x201C; BUILDING ON SUCCESS 13 News of the 2009 edition, plus new opportunities in 2010

CEMS Magazine Official Magazine of the CEMS Alumni Association & Student Board SPRING 2010

Feature

THE NEW AGE OF BRANDING

Schools, companies, students and alumni hold up the branding mirror and tell us what they see

IN THIS ISSUE Editorial

The CEMS Student Board President

and CEMS Alumni Association President welcome you to the first issue of 2010

CEMS Magazine About CEMS

Founded in 1988, CEMS is a global alliance of 27 business schools and universities and over 50 prestigious multinational companies. They collaborate closely to deliver the CEMS Master’s in International Management (or “CEMS MIM”), the number-one ranked pre-experience Master’s in Management in the world (Financial Times, October 2009). The CEMS MIM provides a unique blend of top-level education and professional experience for multilingual, multicultural postgraduate students.

CEMS Alumni Survey

contacts

COMMENT Publication of the 2009

DATES FOR THE DIARY The CEMS Summer Festival

Network Events 2009 Career Forum & Annual Events,

Editor-in-chief:

Editorial committee:

Kevin Titman Communications Manager, CEMS Head Office Robert Hackl President, CEMS Alumni Association

Julie Ranty CEMS student, HEC Paris representative on CEMS Student Board Agata Rundo Secretary General, CEMS Alumni Association

Design & layout: WordAppeal

www.wordappeal.com

Printing: Ciaco

www.ciaco.com

Photo credits:

Nico (cover) Nico (pages 32 & 42) Jaakko Jaskari (pages 34 & 35) Getty Images (page 46) Contact the editorial team at cemsmag@cems.org

the 2010 Louropa & Nordic Forums, CEMS Club and Student Board activities, Erasmus 2010, Business Projects at NHH

On campus In-school events and initiatives

from USYD, UCD, NHH & RSM

Feature Academic members, Corporate

Partners, students & alumni dissect the issue of branding from all angles

Think tank Exchange Risk Management focus,

latest CEMS publication & Faculty Group

Student & alumni focus In-school events, graduate interview, student & alumni news

editorial

Dr. Robert Hackl

CEMS Magazine | JUNE 2010

Thomas Rüdiger Smith

President, CEMS Alumni Association

President, CEMS Student Board

H r

Dear readers, First of all, please share the warmest of welcomes to the first 2010 issue of CEMS Magazine, a publication that we feel has come a long way in becoming more professional both regarding content and layout in a short space of time….

In my November 2009 editorial I had the luxury of addressing readers as one of several thousands of alumni of the number-one ranked Master’s in Management in the world. As you read now the process is well underway towards establishing the next annual Financial Times ranking. Needless to say we are looking forward to toasting another collective success for CEMS and its CEMS member schools in a few months’ time. Once again, alumni will be the pivotal catalyst of any such success and I would like to take the opportunity to thank the class of 2007 whose survey responses will form the basis of the ranking result. However, a thought for those who are maybe just a few months away from making the move from student onto alumnus or alumna… As you will discover within the pages of this issue, this step involves all kinds of challenges vis-à-vis the job market and the way one “brands” oneself. It is for this reason, amongst others, that we felt that “The Art of Branding” would not only provide the most food for thought for our readers but, we hope, the most useful advice for CEMS students about to embark on that particular journey. Various articles on student-led network events, success stories and interviews traditionally complete this issue and provide a sign that the whole network will go from strength to strength in the very near future. This recipe for success is also mirrored by the recent achievements and news to emerge from member schools and Corporate Partners, serving once again as proof that the excellence of the CEMS global alliance is very much a product of its members.

S t

Dear readers, First and foremost a warm welcome to the first CEMS Magazine of 2010.

The concept of branding has most likely never been more important than it is today. Branding as a tool does not end with product brands, it has many more applications. The broader scope of branding can be seen in the increasing amount of companies investing in strengthening their employer brands, organisations and other institutions placing additional emphasis on the importance of the corporate or organisational brand and individuals building up their personal brand as an identity and career booster. In a marketplace of increased global competition, we must understand and be able to define what it is that makes us stand out. In the search for jobs and career development our personal value proposition becomes our selling point and should be communicated, managed and more importantly developed in order to maximise the value of your personal brand. And it is here that the CEMS MIM can add that extra spice that may put you ahead the rest of the bunch. The CEMS MIM is the outcome of a unique global alliance, and in times of global recession where the need for students, recent graduates or alumni to stand out is greater than ever, the three words “unique”, “global” and “alliance” add significant value to our personal brand. Beyond being ranked number one, the value propositions of CEMS can create direct impact on careers and identity through unique international top management education, increased cross-border mobility and an extensive global network. We are part of a unique global alliance that can provide us with a unique international personal brand. I hope that this issue of CEMS magazine will provide you with insight into the extended world of branding from the perspective of the CEMS community itself, as well as keeping you up to date on the many people and projects to have made the news in recent months. Once again welcome and enjoy…

With that, I invite you to read and enjoy the latest issue of CEMS Magazine

Thomas Rüdiger Smith CEMS Student Board President 2010 Dr. Robert Hackl, President of the CEMS Alumni Association

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COMMENT

CEMS Magazine | JUNE 2010

CEMS alumni networking at the 2009 Annual Events in Cologne

Writers: Kevin Titman CEMS Communications Manager

The 2009 CEMS Alumni Survey report - highly motivated managers with great professional ambition emerge from initial study In the summer of 2009 CEMS conducted its traditional alumni survey, following the 2001 and 2005 editions. CEMS Magazine reveals some of the main trends and results to have emerged. Mobility and international profile 43% of CEMS alumni work abroad, with many placing great emphasis on “cultural openness” as a plus of the programme (93%). 33 different nationalities are represented in this survey, and respondents are currently living in 35 different countries of residence. However, eight countries dominate the survey: Austria, France, Germany, Italy, the Netherlands, Poland, Switzerland, and the United Kingdom.

Organisation and Corporate partners An overwhelming majority of the CEMS alumni to have replied to the survey questionnaire are attracted by the prospect of working in large international companies, predominately multinationals (73%) and employing more than 30,000 people (60%). One third of those polled are currently working for a CEMS Corporate Partner.

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The three main functions are clearly Finance (27%), Marketing (18%) and Executive Management (12%) and the sectors of activity that attract them are, for the most part, Consumer Goods and Management Consulting (both 15%), followed by Energy and Investment Banking (both 8%), High Technology (7%) and Commercial Banking (5%). 32.8% of the CEMS respondents are currently employed by a present or former Corporate Partner. Main Corporate Partners are: Henkel, P&G, Shell, PricewaterhouseCoopers, A. T. Kearney, L’Oréal, Reuters and Boston Consulting Group.

Career drivers CEMS young executives are extremely motivated managers Finally, 86% agree or agree strongly that “CEMS develops the skills who have high hopes for the company in which they work and where and knowledge required for a successful career”. This provides they wish to pursue their career. They are not primarily driven by a ringing, long-term endorsement of the role of CEMS not only financial rewards linked to their work, but most importantly by regarding skill acquisition but also application. the content and challenge of their daily work life (rated as very important by 75% of graduates). This aside, they consider freedom Skills and Responsibility in their career, their relation to their direct manager and their 98% of respondents are currently employed, of whom 4% company culture to be the most important factors when choosing run their own businesses. CEMS alumni have excellent language a new employer. capacities: 89% speak three languages or more in the general environment, whilst 92% speak two languages or more in their Impact of the crisis professional environment. The most-used languages are English, A new question was added to the 2009 survey concerning the German, French, Spanish, Italian and Dutch. economic and financial crisis: just over three in four respondents attest that the crisis was having an impact by freezing or reducing 52% of the respondents have European, regional (i.e. responsibility recruitment. Judging by the current 98% employment rate, CEMS for a continent outside of Europe) or global responsibility. In France, alumni can safely be assumed to be enjoying job security, despite Germany and Switzerland, alumni are currently occupying jobs the general climate. This point was also backed up by the relatively with a global level of geographical responsibility. In the United strong performance of CEMS alumni on the salary criterion of the Kingdom, the Netherlands and in Austria, most respondents have 2009 Financial Times ranking – see the “Comment” section of the been trusted with European-level responsibilities. autumn 2009 edition of CEMS Magazine for further details.

Salary

The role of CEMS Questioned about the role of CEMS, 93% agree or agree strongly that “CEMS has made them more open to different cultures”. This confirms the recent trend observed in the CEMS graduate survey (conducted with the most recent graduates of the CEMS MIM), suggesting that the cultural awareness derived from CEMS is by no means a short-term phenomenon but also one felt by alumni much further down the line. It is also noticeable, in the part of the survey where alumni were invited to list the aspects of CEMS that have served them in working life, that the international and cross-cultural dimensions to the CEMS year and the MIM emerge strongly: languages, international internships, working with people from different cultures, crosscultural management and developing the ability to work in a multi-cultural environment were all much-quoted assets of the programme.

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The survey indicates that CEMS alumni feel they belong among the high earners in their respective countries. When asked to compare themselves to their peers, 22% of those questioned felt they were in the top 5% in terms of salary, 24% felt they were in the top 10%, while another quarter (22%) felt they were in the top 25%. In real terms the average alumni salary emerges at €87,000 on the basis of an average of six years of professional experience. This represents approximately double the average starting salary, on the basis of recent CEMS graduate surveys. CEMS would like to offer its thanks to all alumni who took the time to complete the survey questionnaire. Such an exercise is essential in painting as accurate a picture as possible of the CEMS graduate and alumni community, one which will no doubt have grown and developed further still by the time the next CEMS Alumni Survey is performed.

The stars have aligned

A global league of leaders, CEMS brings together top academic institutions, leading multinational companies and outstanding students from around the world to deliver the most internationally and culturally diverse M.Sc. on the market.

DATES for the diary Writers: Kornélia Bodnár & Anna Mészáros CEMS Club Budapest

CEMS Summer Festival 2010 Budapest once again provides the backdrop for a reunion with old friends or first contact with new ones CEMS Club Budapest is happy to announce the fourth CEMS Summer Festival, which will take place in Budapest on 12th-15th August 2010. The festival is organised every year with the aim of creating an international get together for members of the CEMS community and introducing Hungary and Budapest to the incoming students. The Sziget Festival will again serve as a background of the event. Sziget is one of the largest music and cultural festivals in Europe with around 400,000 participants and boasts more than 1,000 world class performances each year. Besides Sziget various other exciting activities will be offered. Participants can get acquainted with Hungarian cuisine, wine and Pálinka culture, discover the beautiful city of Budapest with its historical baths and buildings and have a boat trip on the Danube.

Created by WordAppeal

CEMS Club Budapest recommends this event for all students and alumni alike, especially for graduating students who can benefit from this fun event and meet again their old CEMS buddies, and the newly joined CEMS students who can begin socialising before the block seminars have even begun.

For further information, you can check our webpage: hungary.cemsclub.org or contact us at cemssummerfestival@gmail.com You may also want to watch the following video presentation: http://www.youtube.com watch?v=64NuDnyWGnA (or type keywords CEMS Summer Festival in YouTube)

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Network events 2009 Annual Events film: http://cems.org/videos 2009 Annual Events photo gallery: http://cems.org/photos 2009 Annual Events website: http://www.cemscologne2009.de/

NEtwork events Alumni networking session

CEMS Coordinator Susanne Krieber awaits the future CEMS graduands from WU Vienna University of Economics & Business

CEMS Magazine | JUNE 2010

Corporate Representatives speak at the alumni roundtable event

Werner Delfmann Associate Dean, University of Cologne addresses the alumni panel discussion event

CEMS Annual Events 2009

Academic and corporate expansion on a global scale

Writer: Kevin Titman CEMS Communications Manager

The 2009 Annual Events – the global alliance meets at “Europe’s crossroads”

Three schools saw their membership status approved at the May 2009 Executive Board meeting in Prague ratified by vote in Cologne: Tsinghua SEM (Beijing, China) was renewed as an associate member for a further three years, whilst Richard Ivey School of Business (Canada) and Koç University (Turkey) were confirmed as full members. The latter two schools will therefore be able to deliver the number one-ranked Master's in Management in the world from August 2010.

This look to the near future of CEMS was balanced with a farewell to one of the key contributors to the alliance over the past decade and more. Christi Degen, International Relations Director at the Faculty The handover of the Student Board presidency was of Management, Economics and Social Sciences also formalised, with Jonathan Hostens (Louvain at the University of Cologne, was also the CEMS School of Management) handing over the reins Programme Development Director from 1999 to to Thomas Rüdiger-Smith (Copenhagen Business 2004 and one of the driving forces behind the School). This was then followed by the part of the CEMS MIM. The Cologne Annual Events marked Annual Meeting given over to specific recompenses the end of her tenure at the University of Cologne for individuals within the network. The annual and her official involvement in CEMS. The CEMS Prof. Dr. Barış Tan (Dean of Koç University’s College Courses of the Year were recognised as well as community at large wishes her well for the new of Administrative Sciences and Economics and the very first School of the Year, attributed to the professional challenges that await her. Director of Graduate School of Business) was very University of St. Gallen. All of these awards were clear as to the opportunities now created for his based on formal student evaluation (see overleaf own institution and CEMS: “Educating the leaders for the roll of honour). Finally the inaugural CEMS of tomorrow that understand the implications of Club of the Year award was announced. Based on individual responsibility and maintain the highest votes by the entire current cohort of students, ethical standards is part of our mission. Becoming the winning cheque of €3,000 was presented to a member of the CEMS alliance will ensure that CEMS Club Prague, with the prize money to be these values continue to be passed on to future invested in further CEMS Club initiatives by the leaders with a global vision.” deserving recipients.

True to tradition, the 2009 CEMS Annual Events assembled the main governing bodies and stakeholders that comprise the alliance: the Deans and Rectors of member schools, senior Corporate Partner representatives, alumni, students and the many people from within the member organisations that help make the alliance work. Deans and Rectors award a record number of CEMS MIM diplomas This year’s event was billed as a coming together of the increasingly global CEMS alliance at the crossroads of Europe. As in 2007 (Bocconi, Milan) and 2008 (HEC, Paris) it was once again the turn of one of the four founding schools (the University of Cologne, on this occasion) to host the highlight event on the CEMS calendar. Held on 3rd-5th December the Cologne events featured the induction of new schools and Corporate Partners and a record number of graduands receiving their CEMS MIM diploma. Once again the Annual Events proved to be an intensive 72 hours of working meetings, networking opportunities, decisionmaking and celebrations.

On the work side a whole series of official governing bodies and working groups convened, including the Executive and Strategic Boards, the Student Board and CEMS Club Presidents, the CEMS Alumni Association, Corporate Partner representatives and the Academic Directors, Coordinators and Communications professionals who help make the programme tick within each member school. On the celebratory side, 506 graduands received their CEMS Master's in International Management diploma at a graduation ceremony that featured keynote speaker Günter Verheugen (Vice-President of the European Commission in charge of Enterprise

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at Keio University (Japan), was given the floor to present in great depth his institution in view of its 2010 application for full membership.

and Industry). The tradition installed at the 2008 Paris Annual Events of asking the 25 Deans and Rectors of CEMS full member schools to award the diplomas on stage was repeated. The happy event was then celebrated in great style at the Gürzenich banquet hall in central Cologne, which staged an alumni homecoming event, the Annual Events cocktail and the gala dinner and party.

Carol Stephenson (Dean, Richard Ivey School of Business, The University of Western Ontario) spoke of her pride at Ivey becoming a full member: “The Richard Ivey School of Business is proud to be joining the CEMS alliance. This degree addresses the need for a new breed of manager – one who understands best practice, who can assess the effect of innovation on international management and act to implement change. Joining the CEMS alliance expands Ivey’s international profile and our connection with practicing managers through the high-profile network of Corporate Partners.” These major decisions were made official at the Annual Meeting aboard the MS Rheinenergie on Friday 4th, as well as the confirmation of four new corporate partners: Arçelik, CIB Bank, Daymon Worldwide and Sberbank. In addition, Professor Colin McKenzie, Director of the International Office

Examining social responsibility within the business and education worlds Another highlight of the three-day event was the panel debate on the theme of Educating Globally Responsible Leaders. This corporateacademic event brought the vision of two guest speakers: Gary Steel (Executive Committee member responsible for Human Resources, ABB) and Philippe Levêque (Director General of the international NGO Care France). At a time when CEMS is exploring partnerships and projects that will see ethics and corporate social responsibility incorporated fundamentally into the alliance, this debate proved of immediate relevance and value to all in attendance.

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1,649 participants / 26 Member schools, 22 corporate partners / 30 events and meetings in 3 days / 506 graduating students / Celebrated with 383 bottles of champagne!

CEMS Magazine | JUNE 2010

NEtwork events

The graduating class of 2009

Writer: Kevin Titman CEMS Communications Manager

CAREER FORUM

The CEMS Career Forum 2009 – global talent comes to Budapest Special thanks go to the University of Cologne Annual Events organising committee, with a particular mention for: Frank Schulz-Nieswandt (Dean), Werner Delfmann (Associate Dean, former CEMS Chairman), Christi Degen (former International Relations Director) and Sven Scheïd (Cologne Annual Events Coordinator).

CEMS School of the Year the University of St Gallen receive their award from CEMS Chairman Bernard Ramantsoa, represented by CEMS Coordinators Jacqueline Meier-Küng and Diana Brunner and Academic Director Dr. Jürgen Brücker

CEMS Courses and School of the Year – roll of honour

Block Seminar of the Year Professor Stefano Caselli

Università Commerciale Luigi Bocconi

Professor Eric Cornuel

HEC Paris

Professor Günter Stahl

WU, Vienna University of Economics & Business

Strategic Social Networks

Professor Marco Tortoriello

HEC Paris

Marketing of Luxury and Differentiated Products

Professor Vincent Bastien

HEC Paris

Corporate Strategy

Professor Markus Venzin

Università Commerciale Luigi Bocconi

Cross-Cultural Management

Professor Barbara Brenner

WU, Vienna University of Economics & Business

Entrepreneurial Finance

Strategy Course of the Year Business Strategies and Institutions in Europe

Cross-Cultural Management Course of the Year Cross-Cultural Management

Courses of the Year

Business Project of the Year Can Hungary significantly decrease its energy dependency with the use of renewable and green energy sources?

Corvinus University of Budapest and McKinsey & Company

Business Project of the Year “Evaluation of the changing market for transformer industry drying plants and services. Customer behaviour and measures to meet the changes”

University of St. Gallen and ABB

For many years an integral part of the Annual Events, the Career Forum went it alone in 2009 in a new format. Any doubters who may have wondered why this decision was taken would have seen why as 1,150 Corporate Partner representatives, eager students and alumni arrived in Budapest. Hosted by CEMS academic member school Corvinus University of Budapest, the 2009 Career Forum saw the bar raised even further for an event that had already enjoyed 15 successful years in existence.

Re-modelling the event, for the event

"I know I’m going to be able to see really good quality candidates all in one place.”

Attracting talent in a time of crisis

Emma SawulA Business Graduate Programme Manager, Thomson Reuters

Business Project of the Year How can the company be more attractive to men and students?

HEC Paris and L’Oréal

CEMS School of the Year University of St. Gallen

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The Career Forum has always tried to fulfil several objectives, with networking opportunities and fostering the CEMS community spirit also being accounted for in the design of the event. However, students, alumni and Corporate Partners have always flocked to the forum with one principal and obvious target in mind: recruitment. As the CEMS alliance continued to grow and grow it was therefore decided that the attractiveness of the event needed to be maximised, as CEMS Executive Director François Collin confirms: “The Annual Events and the Career Forum were getting bigger and bigger, with no fewer than 2,700 people in total attending the 2008 edition in Paris. To capitalise on the growing attractiveness of the recruitment dimension we felt the need to split the two, a move that was endorsed by schools and companies that had either hosted or participated in recent years”.

The organisers of the 2009 Career Forum found themselves with an extra challenge: bringing in the right amount and diversity of talent in a time of crisis in order to guarantee the success of the event for its two main customers – those looking to recruit and those looking to get recruited. The attendance statistics speak for themselves, with 38 Corporate Partners taking part, including 27 conducting 545 prescheduled interviews with 357 students based on pre-submitted and pre-screened applications. They also seized the opportunity to pursue direct involvement in programme delivery: 16 CEMS MIM-accredited skills seminars were given to 370 students, with a further 300 missing out such was the choice and level of demand.

NEtwork events

CEMS Magazine | JUNE 2010

The Saturday job fair in full swing

“We find an awful lot in a CEMS CV and that actually makes the selection process very hard!”

A corporate and academic benchmark Day One of the event saw skills seminars being delivered whilst, at the same time, Corporate Partner representatives and Corporate Relations Managers from CEMS member schools met for a benchmarking session designed to identify ways in which CEMS Corporate Partnership could be optimised, to the mutual benefit of all CEMS stakeholders. This very deliberate move enabled dialogue from the recruitment and academic angles to be fostered, corresponding precisely to the founding principle of the CEMS alliance of multinational companies and business schools working in close collaboration. Day Two was focussed entirely on the recruitment event, comprising company presentations, pre-scheduled interviews and the main job fair. The 48-hour, round-the-clock operation was managed at CEMS Head Office end by Corporate Services Manager Denisa Zichackova and Corporate Relations Manager Stefano Gnes and on the Corvinus side by the school’s Career Development Office, directed by Monika Andrasi and ably assisted by Tunde Mate, Anita Pete and Bernadett Takacs.

Alex Snelling Director, Sourcing Europe, L’Oréal

A springboard for the CEMS brand Beyond the prime objectives and benefits of the event, the 2009 Career Forum was also an exercise in strengthening the CEMS brand. At the time the new graphic identity of CEMS as the Global Alliance in Management Education was not even 12 months old. The promotion and management of the brand over the months leading up to the event and during the two days in Budapest meant that it emerged stronger, as noted by François Collin: “Budapest offered a great chance to hammer home a global message about CEMS and the CEMS brand today. We’re looking forward to putting out the word again in 2010”.

“It’s good to see the students doing their homework before attending the event so they can extract the maximum out of it as well as the Corporate Partners.”

Corporate Partner feedback

All participating companies found the organisation good-to-excellent Students were recognised for their academic and technical knowledge, self-presentation and maturity, leadership skills and motivation Over 70% of attending companies plan to participate in the 2010 Career Forum

Edward Godwin Finance Manager, AstraZeneca

The 2010 edition – new opportunities for companies and alumni

THE 2009 edition in numbers

Number of Corporate Partners (CPs) attending

Number of CPs offering pre-scheduled interviews

Number of CPs offering walk-in interviews

Number of skill seminars

2009 Career Forum film: http://cems.org/videos

Total participants

1,150

2009 Career Forum photo gallery: http://cems.org/photos

Number of students attending

over 800

Number of Corporate representatives

250

Number of students to have participated in skill seminars

370

Number of students with interviews

357

Number of pre-scheduled interviews

545

Number of student nationalities represented

Number of financial subsidies distributed

255

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In a conscious move to offer a greater diversity of recruitment profiles to participating companies and more benefits to alumni, the 2010 Career Forum includes a new and important addition. Alumni with 0 to 4 years of professional experience will also be able to apply in advance for prescheduled interviews and attend the job fair. For further information, please visit the 2010 Career Forum mini-website at: http://www.cems.org/general/career_forum

CEMS Magazine | JUNE 2010

NEtwork events

CEMS Magazine | JUNE 2010

NORDIC FORUM Flyer

Writers: Flore Decuypere and Alice Regout CEMS Club Louvain

LOUROPA FORUM

LSM goes CSR at the 2010 CEMS Louropa Forum

A skill seminar in progress during the Louropa forum Writer: Ekaterina Tolpa CEMS Club Helsinki

NORDIC FORUM participating students

NORDIC FORUM 2010

The Louropa Forum is an annual CEMS event. Historically, it has been organised exclusively for selected students from Louvain-la-Neuve, Rotterdam and Paris. This year, the Louropa team decided to follow the successful example of the Nordic Forum and open it to the whole CEMS Community! The purpose was to gather our fellow students around high-quality skills seminars and make them discover both the Louvain School of Management and the wonderful city of Louvain-la-Neuve.

the commitment of every employee. After this dense programme, a rotation dinner enabled us to continue the discussion in a less formal setting with the representatives from P&G, as well as from McKinsey & Company and UNICEF.

We were very happy to welcome representatives from the Swiss headquarters of UNICEF in Louvain-la-Neuve for the second day The theme for this year was “CSR: a realistic necessity”. Despite its of seminar. It was indeed the first time that an NGO led a skill importance, CSR was perceived by students as a way for companies seminar at LSM and it enabled us to analyse the other side of the to advertise themselves. A closer look into their accomplishments partnership. We gained from this day full of humour and creativity would show that their promises were mostly idle words. On the a lot of useful tips for our future projects. Moreover, as CEMS is other hand, a Student Board survey had shown that 77% of the moving towards more collaboration with NGOs, we were proud CEMS students felt deeply concerned by sustainability issues. to head the forum in that direction. This is why this year’s forum would be dedicated to companies who act on sustainability issues with modesty and because of The CEMS-Club Louvain-la-Neuve was delighted to organise this event. In the Louropa Team, local and semester-abroad students their own conviction. worked together to make the project a reality and we are very The serious business started on Thursday in the Belgian office proud of what we have achieved. A pinch of motivation and a big of Procter & Gamble, where the company welcomed us for one share of perseverance made possible a project that initially did intense day of skill seminar. Some of the students may have been not involve many resources. We hope that it will make the coming sceptical about the real beliefs that motivate the company to engage generations of CEMS students want to invest time and effort in in CSR initiatives. However, we were far from disappointed. Our future multi-country events. hosts used presentations, demonstrations and challenges to show us a clear picture of how P&G today leads partnerships in CSR initiatives and integrates them into the whole company, fostering

The 2010 CEMS Nordic Forum brings technology, design and business to Helsinki For the second time since its inception, the CEMS Nordic Forum was held in Helsinki, on 7th -10th April, 2010. The theme for this year’s CEMS Nordic Forum was “Innovation by fusion: Integrating technology, design and business”. Accordingly, the event’s partners were companies which have a positive experience in innovation and design – ABB, Kone, Nokia and Shell. The 90 participants from 16 CEMS schools saw company presentations, interacted with their representatives, did 21 /2 days of skill seminars and enjoyed the activities that the event’s organisation team prepared for them. Participants first gathered on the day before the skill seminars to get to know Helsinki through a “city treasure hunt”. Later in the evening, the official Nordic Forum kick-off was held by the organising team followed by Kone’s view on innovation and social entrepreneurship. Afterwards, a dinner was held at the university facilities where participants had a chance to get to know each other. On Thursday morning the first skill seminars began. In the morning Shell gave a presentation on the very topical theme of “Carbon capture and storage technology” and in the afternoon participants were split into teams and completed tasks on Shell’s “Management skills challenge”, with help from the eight generous representatives Shell had sent from all over Europe. The day was completed with a presentation on career opportunities and CEMS alumni experiences at Shell. Throughout the day, at the university’s main building, ABB, Kone and Shell had stands and HR personnel to explain the application process at these CEMS Corporate Partners.

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On the third day, Nokia took the stage to talk about “Social computing and branding yourself on social media” where they explained how to turn social media applications into efficient working tools. In the afternoon, the group was divided into teams that had the mission to develop new applications for Nokia devices. The Nokia representatives and several other colleagues of theirs continued the day at dinner where they had the opportunity for informal discussions. On the last day of the Nordic Forum Aalto’s CEMS Academic Director Rebecca Piekariand and a visiting professor from Auckland Business School Snejina Michailova gave a half-day skill seminar on knowledge management. Every evening offered opportunities for networking including dinners, sauna, parties, and after-parties. The participants enjoyed Helsinki's nightlife in the town’s bars and clubs. The whole event ended with a buffet dinner at a restaurant where people had the chance to exchange experiences and arrange future visits. To end the trip, Finnish weather provided a rare, sunny day for sightseeing for those who had their flight in the evening or on Monday. All in all the event was a great success, and not only due to the interactive and interesting seminars on topical issues, but also thanks to all the new friendships and contacts gained.

CEMS Magazine | JUNE 2010

NEtwork events

CEMS Magazine | JUNE 2010

Writer: Marianne Schouten Media & PR Coordinator, RSM

Erasmus 2010 Where is he now?

WRITER: CEMS Club Prague

CEMS Club of the Year 2009 lays on a Gala Casino Night CEMS Drinks or Rotation Dinners are very traditional events organised by almost every CEMS Club. Socializing among the CEMS students is one of the crucial tasks that needs to be managed. CEMS Club Prague wanted more.

Rotterdam School of Management, Erasmus University, has thrown down a challenge to the CEMS community. This challenge will reach its conclusion at the 2010 Annual Events…. in Rotterdam

The initial idea was created by the current CEMS Club Prague President Judita Bihelerova. Once she told us “Well, guys, let’s organise an exceptional event for everybody in the Czech Republic who has something to do with the CEMS world.” And that was it! So, we prepared Gala Casino Night – the event of the year where CEMS students met with CEMS alumni, Corporate Partner representatives, teachers of CEMS courses and representatives of the University of Economics, Prague. The very first Gala Casino Night took place in October 2008. In 2009 we continued the new tradition and on 29th October we welcomed all participants to the fancy P.M. Club. As most of the attendees were still students with limited financial resources we slightly modified the concept of casino and we introduced special “Gala Casino Night Banknotes”. In the beginning of the evening everybody received a small amount of these notes. The further procedure was as in a regular casino – change money for tokens, enjoy the game and try to win as much as possible! All together you could have played roulette, poker, black jack or dice.

Gala Casino night 29 th October

The prizes were really catchy – air ticket to Cologne (for the Annual Events 2009 from the Alumni Association Prague), top-quality perfumes, shaving kits, professional cosmetics products etc. (donated by our Corporate Partners). The whole evening was accompanied by live jazz music, a delicious buffet and a variety of drinks. The main idea of everybody meeting everybody in an informal style was totally fulfilled. Students chatted with CP representatives, alumni met the CEMS professors and overall everybody enjoyed the night. We are looking forward to the next Gala Casino Night in 2010!

In preparation for the arrival of the Annual Events in Rotterdam in December 2010, a challenge has gone out to the global CEMS community. A statuette of Desiderius Erasmus, the 15th-century humanist and scholar whose name was given to our university, is to test the CEMS international network by relying on its hospitality to travel the world. The aim is for the statuette to visit all 27 CEMS countries. His journey started at the closing of the Cologne Annual Event in December 2009, and (at the time of going to print) has already led him to Copenhagen, Sydney, Milan, Louvain and Warsaw. The challenge for our Erasmus is to arrive home in Rotterdam in time for the Annual Event there in December 2010. The real Erasmus travelled quite extensively throughout Europe and is reputed to have said: “The world is my home”. Can our Erasmus visit one country every two weeks? Can the CEMS community entertain him during a visit to each and every country? Follow his trip on this blog: www.erasmus2010.com!

The Annual Events are the highlight of the CEMS year. They represent an exceptional opportunity to bring together the entire CEMS community for discussions, decision-making, formal announcements and the celebration of the graduation of CEMS MIM students. The CEMS Annual Events 2010, hosted by Rotterdam School of Management, Erasmus University will be held from 2nd-4th December.

Relevant information for CEMS Students: Erasmus will ask students a question in each country he visits. What will you do about a sustainable future and how will you become a responsible leader? As a host, you can keep the CEMS community posted on Erasmus’ travels by helping him complete his travel diary – a blog with photographs and movies. The best entries will receive a prize at the Rotterdam annual events.

Rules of the Game

Proof of Erasmus’ whereabouts should be provided by sending in materials. Erasmus can’t stay in any one country longer than 20 days (he’s in a hurry). Please make sure a smooth handover is arranged early on. Creativity is compulsory. No other rules (except those of decent behaviour….).

Contact info: A username and password for uploading materials on blogspot.com can be obtained from Marlies Koolhaas (mkoolhaas@rsm.nl). If you are unable to post materials yourself, you can send them to Marlies for her to upload.

Erasmus is held aloft in Louvain (Belgium)

during the Louropa Forum

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CEMS Magazine | JUNE 2010

NEtwork events

CEMS Magazine | JUNE 2010

Writer: Tor Aase Johannessen CEMS Academic Director, NHH

The Student Board, CEMS Clubs and CPs join forces at the Annual Events

WriterS: Elias Lieberich Student Board member, UoC Felicitas Lüdecke CEMS Club Cologne Sven Scheid Annual Events Coordinator, UoC

A major part of the December Student Board meeting was the involvement of Corporate Partners. On this occasion Royal Dutch Shell gave great insight to Europe’s largest diesel refinery in Cologne. As one of the major hiring companies among CEMS graduates McKinsey invited the Student Board to their German Headquarters in Cologne to identify possibilities to make even more out of the relationship together. In the evening event on top of the roofs of Cologne Procter & Gamble showed their high commitment to CEMS and discussed their future plans with the Student Board. Wolseley also contributed with an exciting fun event.

During the Annual Events 2009 in Cologne the Student Board convened from 1st-5th December. This particular edition was special for the high level of Corporate Partner involvement and the integration of the CEMS Club Conference into the meeting.

CEMS Club Conference (CCC)

CEMS Chairman Bernard Ramanantsoa presents a cheque for €3,000 to CEMS Club Prague, represented by its president Judita Bihelerova

Elke Thamm (CEMS 2004, now Leadership and Development Programme Manager, Wolseley) addresses the CEMS Club conference

The CEMS Club Conference is a new initiative from the Student Board to give the CEMS Clubs the opportunity to look more closely at the approaches of fellow CEMS Clubs and discuss how to operate a CEMS Club to the benefit of students. On Friday 4th December CEMS Club presidents met in order to report, talk and discuss their work within the CEMS community. Incorporating this event into the Annual Events Cologne 2009 allowed most of the presidents to attend the meeting. Moreover the Student Board members were invited to participate in the conference aiming to enhance the information exchange between the CEMS Student Board and CEMS Club presidents and to actively implement the future vision of closer collaboration between single committees within the CEMS community. The conference was governed by a tough agenda. The CC Presidents and the Student Board jointly agreed to boost advanced organisation and event-management in the different CEMS Clubs. Therefore the conference was led by a “best practice approach”, meaning that different Clubs were presenting their core competence in order to show how the other Clubs could best implement new practices or improve existing tasks. Topics covered included networking, social events, increasing the number of alumni, data privacy protection, social projects, organisation of pan-European events, PR activities to promote the CEMS MIM to potential CPs, and the CEMS-UNICEF Schools for Africa Humanitarian Project. Guest speakers at the conference were Professor Catherine da Silveira from Lisbon, Isabelle Claus (Director of Recruiting Belgium) from McKinsey & Company or Elke Thamm from our Corporate Partner Wolseley. The CEMS Club Cologne would like to thank all CEMS Student Board members and the CEMS Club presidents for their participation and commitment during the Annual Events in Cologne 2009.

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Recent Business Projects at NHH “After nearly two months of work, we really feel that CEMS Business Projects are worth 15 ECTS!” PriceWaterhouseCoopers - a satisfied customer! Distance work with Procter & Gamble “Working on a CEMS Business Project with a Corporate Partner located thousands of kilometers away from NHH is real challenge”, Martin Kurnas from VSE in Prague and Matthias Fuchs from the WU in Vienna say. One of the challenges for both project groups has been to communicate with the P&G HQ located in Geneva. After a couple of “The regional office project covers two main areas”, Niccolò, tests, the groups have chosen to use Skype, and this works out the group leader, says – “market analysis and analysis of the very well. Like 22 other students, they are spending the spring capabilities of PWC. We have almost finished the data collection, semester at NHH in Bergen, Norway. Since early February, and the remaining job is to sort out all these data and make a they have been working on a project for Procter & Gamble in recommendation on whether or not PWC should go for a new Geneva, where the objective is to advise P&G on how to defend regional office”. their market position of a particular product line in one of their European markets. One other CEMS student from NHH is also The PWC Business Project group is meeting once a week to working on this project. This project is one of two P&G projects discuss and share information, and sometimes more frequently this spring. The other project is a joint project where other if there are specific problems which need to be dealt with. The CEMS institutions are also involved, and three NHH students cooperation with the company has been excellent, the group are working on this one. members all agree, and PWC has been very supportive. It is particularly encouraging to note that the company is very at- P&G is one of the world’s most professional companies in martentive to the group’s views, and there is a strong learning effect keting”, the students say, “and they continuously analyse their from the project. “In general, we are very happy with the CEMS competitive situation.” students”, says Gunnar Krosby, manager of PWC in Bergen, “and we also consider them to be potential colleagues. We will definitely go for another CEMS Business Project next year”. Inger Ubbe (Norway), Niccolò Rossi (Italy), and Paal Anker Nilssen (Norway) say. Since early February, they have been assigned to a PWC project where the objective is to determine whether the company should establish a new regional office “somewhere” in Norway.

In addition to the two BP projects, PWC has just completed a skills seminar on presentation techniques, based on one of their own international courses. This is the second year in a row that PWC is offering BPs. NHH is very pleased with the cooperation with PWC, and so are the students.

Paal Anker Nilssen, Niccolò Rossi and Inger Ubbe, PricewaterhouseCoopers

Matthias Fuchs and Martin Kurnas, CEMS students participating in the Procter & Gamble Business Project

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CEMS Magazine | JUNE 2010

The Group in figures:

Crédit Agricole Group

Join the leading banking group in Europe*! The Crédit Agricole Group employs 164,000 staff in over 70 countries. It is with these human resources that the Group has become a major player in the financial and insurance banking sector in Europe. If you would like to join us and participate in the development of the Group, have a look at our recruitment website: www.mycreditagricole.jobs

Top banking employer in France Top banking group IN Europe for retail banking revenue* Top collective management bank IN Europe No.9 worldwide ranked by tier 1 networthratio** Top bank insurer in France and 2nd for insurance Financial data

(Crédit Agricole Group) On 31st December 2009

Total turnover: 31.3 billion euros Net income: 2.7 billion euros **the banker (July 2009) crédit agricole S.A. on 12/31/09)

*In terms of retail banking income – on 31st December 2009.

Who are we? Crédit Agricole Group is a leading player in the European banking sector. Its ambition is to become a European leader in banking and insurance worldwide. 59 million clients, 11,500 branches and three domestic markets (France, Italy and Greece).

Asset management, insurance and private banking Amundi, Crédit Agricole Assurances, Crédit Agricole Private Banking…

This sector includes the management of assets and holdings, life and property insurance and private banking. The Group occupies a dominant position: 1st in France and in Europe for collective management.

Corporate and investment banking Crédit Agricole CIB, CA Cheuvreux, Newedge… Crédit Agricole CIB is represented in more than 50 countries and specializes in the fields of financial market banking, brokerage, investment banking, structured finance, commercial banking. It is in position of No.2 worldwide in the structured financing of raw materials. Specialised activities and subsidiaries Crédit Agricole Private Equity, Idia, Crédit Agricole Immobilier…

Retail banking in France Crédit Agricole’s Regional Banks and LCL

Crédit Agricole Group leads France’s retail banking market with a market share of 28% of households. This group has a unique advantage with his complementary Regional Bank and LCL networks.

International retail banking Cariparma and Friuladria, Emporiki Bank, Lukas Bank…

With a presence in 15 countries, Crédit Agricole Group has 6.5 million clients and 2,400 branches outside France.

Specialized financial services Sofinco, Finaref, Eurofactor, Crédit Agricole Leasing

The Group offers specialized financing plans, factoring and leasing agreements to European companies, and is one of Europe’s leading players in these business lines.

The Group has a strong position in venture capital markets and M&As. With CEDICAM, it aims to become one of European leaders. Crédit Agricole Immobilier covers all real estate-related activities (except financing), and Uni-Editions is another one which publishes consumer magazines.

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Why should candidates work for us? With Crédit Agricole Group, you will go further by working for an ambitious Group that wants its employees to grow continuously. With its emphasis on training, internal mobility and personal development, our Group will help you fulfil your ambitions.

Our advice to applicants... Visit our website www.mycreditagricole. jobs and discover our businesses and open positions in terms of Recruitment, VIE and Internship. Select the right job in accordance to your wishes, skills and experience.

ON CAMPUS

CAMPUS

TOP PHOTO Nick Wailes briefs Master of Management students about their latest business project BOTTOM PHOTO Master of Management students get to work and discuss the issues of their project with an industry mentor

Writer: alison avery PR & Communications Manager, USYD

Innovative programME builds innovation skills

The 12-week DFIC consists of two face-to-face workshops (one on idea generation and a second on prototyping and market testing), regular meetings between Master of Management students and dedicated coaches and mentors from Deloitte as well as a series of online tasks that the students have to complete. The programme culminates in students pitching their ideas to representatives from senior management at the firm. Lorenn Ruster, a Master of Management student involved in the challenge said: "The Fastrack challenge has provided us with

the resources to develop an innovative idea and plan its implementation. Being mentored by the Deloitte team and exposure to their way of thinking has resulted in great insight into how the innovation process occurs in real-life and how a multi-disciplinary team can work together to find solutions. It has been a very worthwhile experience". Beau Leese, Manager, Consulting at Deloitte said: “At Deloitte we spend a lot of time thinking about innovation and ways to encourage it. The Deloitte Fastrack Innovation Challenge has made it possible for us to share some of what we have learnt about innovation with this group of highly motivated students. We have been really impressed with the enthusiasm of the students and the way that they have responded to the challenge.”

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Distinguished CSR spokeswoman appears at UCD event Ms. Rosalind Kainyah, Vice President, External Affairs, at Tullow Oil, visited the Smurfit School of Business at University College Dublin to speak about her company’s approach to Corporate Responsibility.

A distinctive feature of the Master of Management programme is the high degree of involvement of Corporate Partners. An illustration of this is the Deloitte Fastrack Innovation Challenge (DFIC) which was unveiled to participating Master of Management and CEMS semester-abroad students based at the University of Sydney in Semester 2, 2009. Deloitte are fast becoming market leaders in helping organisations develop and foster innovation and the DFIC gives Master of Management students access to this leading edge thinking.

Writer: CEMS-UCD students Term 1 2009-10

Founded in Dublin in 1985, Tullow is one of Europe’s largest independent oil and gas exploration and production companies and currently has operations in Europe, Africa, South America and South Asia. According to industry commentators, Tullow’s approach to CR is industry leading.

Nick Wailes, Master of Management Programme Director and CEMS Aacademic Director at USYD, said The DFIC is just one of a number of skills seminars and business projects that are being developed with Corporate Partners. “This is a fantastic opportunity for students in the programme to develop critical skills around innovation from leading industry experts. The close relationship we have been able to develop with Deloitte, and other companies, means students in the Master of Management get experiences that are not available to many others.”

Rosalind explained that their success stems from the fact that the firm’s CR strategy is deeply embedded in its business strategy. By carefully managing governance issues, and the social and environmental impact of their activities, Tullow is able to secure the all-important social licenses that are required to operate. Asked whether CR was consequently a necessary cost of doing business, Rosalind explained that for Tullow Oil, being responsible was more than that. For example, rather than simply donating money to local governments or charities, Tullow takes time to listen to the needs of local communities and work with them in an open and honest way to secure their long-term success.

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Further information on the CSR activities of Tullow Oil Plc can be found at: http://www.tullowoil.com/

CEMS Magazine | JUNE 2010

ON CAMPUS

CEMS Magazine | JUNE 2010

Writer: Marianne Schouten Media & PR Coordinator, RSM

WRITER: CEMS Club Bergen

Bonding with CEMS NHH

ROTTERDAM SCHOOL OF MANAGEMENT

Rotterdam School of Management, Erasmus University asks “What will you commit to”? Rotterdam School of Management, Erasmus University is a very large and complex organisation that needed a Big Idea to unify and connect the disparate parts, and all the people, of RSM.

Integration trip 24 eager students met outside NHH one snowy day in January. CEMS NHH arranged a two-day bonding trip including pizza night, team-building activities, games and a skill seminar. We are fortunate to be able to use the facilities of the Marine biological research station outside Bergen. It fitted our purpose excellently, with nice common areas and good standard bedrooms. Ragnar from the CEMS Club Board had a team building session where we learned to trust, hug and jump brooms together. We also had pizza, some games and a lot of fun together. This was the first time the whole spring class was gathered, and by the end of the trip we were all good friends. Saturday morning we were up bright and early for a skill seminar on project management by the CEMS Academic director, Tor Aase Johannessen. We received an integrative overview of aspects within project management and worked in groups to identify examples of best practices. This seminar worked as a preparation for the students for the upcoming kick-off of the Business Projects and was a useful introduction for the work ahead.

Wine and cheese party Right after the selection of the new CEMS students the CEMS Club invited them all to a wine and cheese party to integrate the newcomers into the CEMS community at NHH. This was a mix-and-mingle event with the goal of introducing the new students with the genuine CEMS spirit, sharing experience and giving advice about schools and exchanges. The evening was a great success, and it is nice to see our CEMS family expanding.

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I WILL is now its Big Idea in terms of communication. It is a communications initiative that is a rallying call to everyone at RSM. I WILL asks each individual at RSM – students and staff, faculty and alumni and Corporate Partners – to think critically about their drive and ambitions. What will you commit to?

I WILL, explained by Dean Yip “I think we’ve come to the point at which business schools can no longer dictate to our students, or define ‘success’ or ‘ambition’ or ‘leadership’. We are not pushing our agenda as an institution with I WILL. Instead we are listening and responding to the leading ideas and personal commitments that come to us from RSM’s I WILL community – the concerns and ideals of our students, for example. I WILL is a grassroots campaign. It’s led from the bottom to the top. Ideas are free, and the next and best Big Idea could come from one of our 19-year-old students who has logged into I WILL. I WILL raises the profile of RSM, but more importantly expresses and stimulates our mindset of moving forward and upward. We’re thinking in the future tense.”

Foregrounding the people of RSM I WILL is what the people of RSM are about. It’s about connection, humanity, warmth: I WILL says that we’re more than a school, we’re a community in the business of educating the leaders of the future. A leader is one who looks forward; in looking forward, the leader influences others. What moves a leader? Will power. A leader will need to believe in him or herself and what he or she is doing. ‘Willpower’ didn’t sound quite right for this movement, but ‘will’ – I WILL – does. I WILL is interesting for two reasons. One is emotional. We’re not talking about the structure or the courses in a university; we’re talking about the personality

and passion of leaders. And secondly, most importantly, I WILL is in the future tense. That is what happens in a business school – you are projecting yourself into your future. When you do this, you have to push yourself to the edge to envision the best future; it’s good to do this. Connection and community and dialogue are what RSM wants, so the I WILL site was developed: http://iwill.rsm.nl. This open social media network means we have to let go of result. We have to see who our people really are. I think that in the nature of the I WILL movement there is an ongoing sentiment of “I can’t stop – I’ve got to keep saying ‘I WILL’ to what is important to me.” That’s something that leaders do.

Creating a distinguishable, durable brand image through conversation From a marketing perspective, I WILL is about creating a distinguishable, durable brand image for RSM, one that is both consistent and fresh. More importantly I WILL is a movement that will be growing organically, thanks to the social networking site launched. This is a completely new approach to communicating the ideals, ideas, ambitions and focus of those who are part of RSM. It works from the bottom up, instead of the top-down. The strength – and risk – of I WILL is that it’s not about traditional marketing. It’s not the School telling students why it’s so great. It’s not the Marketing Department devising something and doing it alone. I WILL is something that all the people of RSM are incorporating into their lives, their way of thinking and working. RSM is not launching a campaign, it’s starting a conversation. RSM has something really promising and exciting here, and it’s going to take time to mature. It’s a communications campaign about listening, and about trusting, and about thinking in terms of the future.

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You can log onto http://iwill.rsm.nl and add an I WILL statement to our I WILL online community.

CEMS Magazine | JUNE 2010

The New Age of Branding

Academic members, corporate partners, students & alumni dissect the issue of branding from all angles

feature

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feature

CEMS Magazine | JUNE 2010

Writer: Cathy Timlin Marketing Manager, UCDRelations Coordinator

UCD-CEMS GRADUATE PROFILES

The CEMS brand and its value on the job market – the recent graduate perspective UCD Michael Smurfit Graduate Business

M t Tobias Marmann CEMS 2008, Online Media Associate at Google Ireland

School Ireland asked three of their recent CEMS graduates how the CEMS brand aided their job search when entering the job market

I think that CEMS added great value not only to my CV when applying, but also to my personality as a whole. It is quite unique to find a programme which allows you to accomplish so many exciting things within a rather limited period of time. Studying in two or even more different countries, attending conferences in yet other countries and meeting people from all over the world provided me with the soft skills needed for an international job search. In turn, lectures, hands-on business projects, an internship as well as interesting skills seminars ensured that I am now equipped with the right balance of practical and theoretical knowledge. Another big advantage is the fact that the excellence of the CEMS degree is validated through the Financial Times ranking which made it credible for any future employer. I have always made sure that all of the above characteristics were prominently highlighted either on my CV or during the interviews. As a result, the feedback from recruiters regarding my CEMS profile was very positive.

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In general, the entire CEMS experience made it easy for me to brand myself in a convincing way as an international young professional for whom flexibility is a given and who can adapt easily to new or changing environments. Moreover, the proven ability of working in international teams and multilingualism are major features which I considered very important for my own branding, too. I believe that my profile - the CEMS profile - fits very well to where I got my first job. I have colleagues from over 45 countries who collaborate in small teams to achieve a variety of goals. So on a daily basis I am challenged with interesting projects in an international atmosphere where I can use my language skills. Looking back at my initial application and having spoken with my recruiter, I can confirm that CEMS has provided many elements which positively contributed to my successful application.

CEMS Magazine | JUNE 2010

“I wish you good fortune in making the most of these difficult times – remember that fortune favours the brave!”

Enrico Fontana CEMS 2008, Area Manager Italy for MaxMara Employers look for talents with high flexibility, quantitative efficiency, a convincing academic background and impressive international communication attitudes: all of these characteristics are widely recognised to be embedded in CEMS graduates’ personality and behaviour. To be part of CEMS, students often live in several countries for longer terms even before applying, studying in high-ranked universities world-wide. Working and learning together with other students from other nationalities as well as sharing and debating different points of view are part of the CEMS way of thinking. In my case, CEMS made job-hunting relatively easy. Although I only had a vague idea about what I was looking for, I was sure about what I could offer. I had applied to MaxMara Fashion Group in the retail industry during my Bachelor studies and during my CEMS second semester I was contacted back: I had a few meetings in which I was asked about my background, interests and academic records. Thanks to my CEMS degree, I skipped ordinary HR processes and I directly spoke with the global sales directors themselves. They were especially enthusiastic about how many countries I had lived in and the languages I could speak at my relatively young age, all together backed by top-level, internationallyrecognised academic records. In fact, during my CEMS year I was an Italian student enrolled at an Irish University and going “abroad” to

Vienna for the second semester. Such a variety of experience within only one year and a half is rare to be found, but rather typical for CEMS students and highly appreciated. Even before officially graduating, I started at once my entry-level job as Area Manager in Italy but spending about 35% of my work time in northern and eastern Europe, at the client’s site.

Stephanie Polge-Florentin CEMS 2009, Analyst with Accenture

I firmly believe that the CEMS brand was particularly valuable for me when I applied for jobs during the economic downturn in 2008. During the crisis many capable and talented students were looking for their first jobs and although the academic excellence of my business schools brought credibility to my applications, it was not enough to differentiate myself faced with the selectivity of recruiters. The CEMS programme granted me the opportunity to study in two foreign countries and enabled me to get involved in several corporate and community events. It unveiled a wealth of career opportunities that I had not previously considered and benefited me as I was able to develop an extensive international network. I was invited to an Accenture networking event for prospective graduate applicants in Dublin. This

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helped me gain a greater understanding of what the firm can offer and also confirmed my desire to work in Management Consulting. During job interviews, the CEMS brand enabled me to differentiate myself and show that I am flexible, have good interpersonal abilities and a multicultural awareness. I think that those qualities are consistent across all CEMS students and alumni and the basis of both the CEMS culture and brand. I was fortunate enough to be able to choose between several job offers during my first semester. I accepted a position within the Analyst Consulting Group for Accenture in London and enjoy living in a new country as well as joining a company that shares the core values that I believe in.

CEMS Magazine | JUNE 2010

feature

CEMS Magazine | JUNE 2010

reuters alumni perspective

Re-branding of a CEMS Corporate Partner the inside story from a CEMS alumna When Thomson and Reuters became a single entity in April 2008 they underwent a re-branding exercise of huge scope and importance. A combined Thomson Reuters created an employee base of roughly 50,000 spread across more than 100 countries, resulting in the need to shift perceptions and communicate a new brand focus. We asked Yudenia Guerra - alumna of CEMS - who joined the Business Graduate Programme as to her first hand experience of the opportunities created out of such a large rebranding exercise.

Q. What reaction has this received within Thomson Reuters? A.

Q. Can you tell us about your experience

of marketing the Thomson Reuters brand?

A. Marketing the Thomson Reuters brand is very much a team exercise with everyone in the company having a key role to play. In my case, I had a great opportunity to work on a very “hands-on” project coming out of our own graduate development workshop. At the workshop, we were tasked with ways to promote our brand to Thomson Reuters’ future consumers – Generation Y. One of the key recommendations was to create a trading application on Facebook that would showcase Thomson Reuters as the leader in financial information services. We suggested using this particular social media outlet due to the role it plays in engaging with our target market, the student.

On completion of the workshop, we went away thinking what a great project this could be, but unsure as to whether our ideas would ever be utilised. As I moved into my new role in Marketing for UK and Ireland though, I was given the opportunity to make this project a reality. With a team of four people and in a timescale of barely six weeks we had hired an agency to develop the “app”, detailed our list of requirements, built a promotional plan, and even liaised with our legal teams. After much hard work, long nights and good laughs we managed to create “Thomson Reuters Top Trader,” an application we all had something to be proud of.

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The internal reaction has been great. Our Top Trader team has been nominated for several awards and won a special recognition for Marketing Innovation. The success of Top Trader has allowed us the opportunity to present our plan for the next phase of Top Trader, securing funding for continuation of the project. Feedback on our next phase proposal was positive and as a result, we are now working on the global launch of Top Trader. Launching globally is something extremely exciting for us and we are currently looking at giving the project a wider scope, speaking to several potential sponsors and working again on all the critical details of the project. The learning curve has been very steep but I have never worked as hard and enjoyed it as much as I have whilst on this project.

Q. Now that Top Trader is a global

project, what’s next for you?

A. There is now more detail involved and a larger team, this next phase is about making the global version a success. With Top Trader going global I have been kept extremely busy with all the planning and testing required at this crucial stage of the project.

I feel extremely lucky to work for a company that values potential and encourages innovative ideas, providing the freedom to make things happen. We worked very hard but it would not have been possible without the vision, trust and support of our senior management, advising us and guiding us all the way through. Innovation is a key driver for Thomson Reuters, and Top Trader is a fantastic example of how a big company can foster innovation at all levels. 2010 is going to be a big year for the Thomson Reuters brand with a host of exciting projects currently in development and awaiting launch, I can't wait to see it all unfold - stay tuned!

http://apps.facebook.com/toptrader/

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CEMS Magazine | JUNE 2010

feature

Branding is a two-way street While studying ways in which Nokia can enhance its employer image amongst fresh talent, in general, the project has also given Nokia the opportunity to brand itself amongst those participating in the business projects. “It has been a great experience; it feels like being an employee of Nokia for a moment” Arturo explains.

NOKIA STUDENT bRANDING

Nokia Business project teaches students how to brand themselves As we know, business projects are one of the most important parts of the CEMS programme. This Spring, in Helsinki, Finland, CEMS students at Aalto University School of Economics have been cooperating with Nokia, the Finnish giant, for this annual project.

Writer: Tiina Ruulio

25 students from different CEMS schools around the world are participating in the project; they have been divided into groups to do research in five different areas that Nokia want to improve. Julie, Tiina, Arturo and Dong are working in the area of “University Cooperation Model”. Their role is to act as external consultants to create internal tools for global use within Nokia in all of the functions that involve University Relations: mapping of key university partners and a portfolio of activities and events. For the team, the project is an interesting challenge, it’s the first time they have utilised their academic research to solve practical issues. On the other hand, during the project, they have to think about a totally new question: how to brand themselves to the company.

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The business project has also provided the students with a great opportunity to brand themselves. As part of the project they have been interacting with employees in very high ranks of the organisation, exchanging points of view and knowledge. After this valuable learning experience the students will also get the recognition of having worked as consultants for a major international company, increasing their value as potential employees. “I’m sure that working in this project for Nokia will help me improve my image with my potential employers” Dong explains. At the end it has been a win-win situation for both the students and Nokia.

Social Media is becoming an important tool in employer branding Nokia plans in the future to be more active in using the personal profiles of Nokia employees in recruitment and marketing – highlighting for example a software developer's passion for butterflies. During weekly visits to Nokia House, Julie, Tiina, Arturo, and Yan also meet up with Carita Poussa, the Human Resources Manager who is in charge of the project at Nokia. T he use of social media for talent acquisition is a new concept for Nokia. “What we're interested in is what kind of a presence a student or a young

talented individual has on for example Twitter, how many followers he/she has, does he/she have a blog or a hobby-related website”, Poussa's explains.

Key take-away points It is no wonder that those four students got a real learning experience out of this business project with Nokia. Hands-on practice has showed the team that Nokia, as a truly global business, has a complicated organisational structure. “There is no defined organisational chart. If you need something you have to get in touch with the network you’ve built within the company” explained Tiina. Building relationships outside one’s own unit, deepening ties to close colleagues, networking internally are of a paramount importance in global companies. Another key observation is that the company went through a tremendous change, moving from a device company to an Internet one. As Julie acknowledges, “I really feel I have re-discovered the company. It now provides people with experiences in music, video, television, navigation through its devices. Nokia Corporation has undoubtedly made its way since the company launched the Snake game on the Nokia 6110!” Don, who used to be a blogger, realises how important it is to be active in social media to be spotted by employers. Creating a remarkable web presence enables students to stand out and to promote themselves, thereby building their personal branding. “I have learned during my business project that social media are important ways to brand yourself. By making yourself visible, you can become distinctive from the others. Back in China, I will take up my blog!”

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CEMS Magazine | JUNE 2010

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CEMS Magazine | JUNE 2010

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CEMS Magazine | JUNE 2010

Writer: Katrin Schlemminger CEMS Club Copenhagen

Writer: Gabriela Trofin CEMS Club Copenhagen

STUDent prespeCTIVE - CEMS BRAnD How to secure the CEMS brand value – a student’S perspective

Branding in online communities Whether you are a company or a customer, you must have heard of online brand communities. As a matter of fact, the first thing that comes to one’s mind upon hearing the term is social media: a fad or an opportunity?

How can this be achieved?

In terms of the first dimension, market orientation, the goal should be to convey the unique image of the CEMS degree, for instance As a CEMS student there are many ways of through raising interesting discussions during branding yourself as a global citizen. It can be skill seminars, professional appearances at done through appearance, for example through block seminars, the Annual Events and the wearing products with brands that cannot be Career Forum, or through shining at job purchased in one’s home country. Or it can assessment centres. Market orientation also be done through behaviour, such as speaking implies learning from best practices at one foreign languages fluently or the willingness partner university and implementing them to work abroad after graduating. A third way across all academic partners, such as the is through offering a service, for instance Humanitarian Week at CBS, which will soon be cross-cultural knowledge that a CEMS student implemented by all CEMS Clubs. Moreover, the can offer potential employers and which may CEMS experience and culture are unique assets eventually lead to better integration and hence, of the programme that have to be strengthened higher business results. through active CEMS Clubs in all countries, CEMS-wide institutions, such as the Student Board, or Forums, such as the Nordic Forum or the Louropa Forum. These will secure a Programme awareness is key continuous brand development process and, even Yet, the question arises how branding more importantly, a consistent delivery of the as a CEMS student (and thereby as a global CEMS brand and spirit. Market orientation also citizen) can be monitored and improved incorporates the measurement of effectiveness while increasing the overall awareness of the of any CEMS activity, for example through programme. The CEMS brand can be seen surveys, to be able to detect gaps and put effort as the bridging function between Corporate into closing them. Partners and students, which highlights the importance of safeguarding the brand value to secure the ongoing success story of the CEMS programme. This could be possible through a Innovation within an brand governance framework such as the one expanding community developed by R. Jones (2009) from Copenhagen Taking a closer look at the second Business School, which every CEMS student dimension of the brand governance framework, could adopt and use to preserve and increase organisational performance, the main challenge CEMS’ brand equity. The framework consists of four different lies in offering a consistently high value dimensions, namely market orientation, proposition to Corporate Partners and thereby organisational performance, financial performance increasing their loyalty in selecting as many and legal protection. Its application can help CEMS students as possible as their future tackle the challenge of increasing competition on employees. In relation to the organisation it has the job market through displaying consistency to be ensured that it is difficult to replicate CEMS’ of the CEMS brand value at all touch points, capabilities. One capability is the community of such as in the recruiting process of the new the best business schools of the world, which generation of CEMS students, Corporate Partner has to be maintained and expanded if the entry requirements are met. However, it is certain events and so on. that a bigger community increases complexity at the same time. Thus, emphasis has to be placed on innovation through the involvement of students, alumni, professors and Corporate

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Partners, for example fostered in the form of co-creation in skill seminars to build up the CEMS brand and reputation.

P is for performance and protection The third dimension deals with the financial performance related to the brand. As there is still a lot of discussion regarding the monetary value of brands according to Interbrand, the focus lies on the intangible values that can be retrieved from brands. This could, for instance, be measured in terms of the overall satisfaction of CEMS Corporate Partners with CEMS graduates working in their company. However, if it is needed to come up with meaningful numbers to illustrate the value of the CEMS brand, it is possible to present conversion rates or annual future average earnings of CEMS graduates. The last perspective deals with the legal protection of the CEMS brand and its subbrands. This means to make sure to register logos, claims, websites etc. proactively as intellectual property to ensure that the brand is displayed in a consistent way and not misused by third parties. To sum up, everybody in the CEMS community plays a part in increasing the awareness of the CEMS brand and strengthening its brand equity. We should all aim at incorporating the four dimensions in our way of branding ourselves as global citizens to maintain our number one position in the international league!

Online brand communities have existed since the dawn of Internet communications. Companies such as Lego, Apple, Coca-Cola, Nutella, Harley Davidson, etc. have been thriving in this area, connecting consumers and acting as platforms for collaboration and innovation. And they’ve been doing it well! According to famous researchers Muniz and O’Guinn, brand communities are powered by three main characteristics: a consciousness of a kind, shared rituals and traditions, plus moral responsibility. In the virtual world, these are equally important in terms of context, creating the base for trust-building initiatives.

CEMS Facebook

CEMS Twitter

Building context, Creating networks The future of branding is happening now – it is all about conversations around brands. By creating context through dialogues, big brands are always present in the media, in their consumers’ minds. However, establishing relationships with consumers is not easy. Online brand communities are a tool for marketing together with the consumers – or prosumers. The value of talk in these communities has the potential to connect, listen, promote and engage. Explorations of consumers’ identities and loyalty may lead to strategies of self-expression that inspire others to create their own identities. This is the future of branding, because brands connect nowadays more with consumers. Online brand communities are the perfect medium for these relationships to thrive for the benefit of all parties involved.

Engaging your customers There are still debates regarding the best way to engage customers in online brand communities. After all, communities exist through their users’ participation. The brand is undoubtedly the focus. Nevertheless, the conversations that happen are what drive the brand forward. How do you inspire others to tell your brand’s stories? How does your company involve consumers? CEMS faces these same questions and can answer them by involving its members.

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CEMS YouTube

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CEMS Magazine | JUNE 2010

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CEMS Magazine | JUNE 2010

Writer: Barbara Enziger Head of Marketing & Communications, WU

Writer: Eeva Lehtinen Director of Communications & PR, AALTO

Helsinki re-branding WU re-branding

A new visual identity for WU

01 WU’s new logo is the key element of its corporate

design. Using the short name “WU” as an integral part of the logo ensures that the university will be recognised internationally. 02 Once the logo has been established and is as-

As an internationally-oriented university, WU needs not only a well-defined strategy of excellence in teaching and research but also a clear visual identity.

sociated with the university, the full names in German and English will be left off, and the logo will consist simply of the name WU. 03 With its new visual presentation, WU decided

on an umbrella strategy covering its sub-brands WU Alumni Club, WU Executive Academy and WU ZBP Career Center, making WU the visual anchor for all three. A unified corporate colour scheme for WU and its sub-brands will increase recognition and international impact.

It is WU’s goal to be recognised beyond 04 Starting from the blue shade used as the key the German-speaking world and to become colour in WU’s previous corporate identity, one of the top 15 universities of economics a blue-toned colour scheme was developed, and business in Europe. Important steps in allowing for a variety of combinations for each this direction have already been taken, like the individual application. EQUIS accreditation, increased international publication and research activities, and 05 Each existing and future sub-brand also has its own distinct colour, to be applied in membership in global networks like CEMS combination with the WU colour scheme. and PIM. To help make these developments visible to the outside, WU decided to design a Clear lines, a modern but timeless typography new logo and corporate identity, reflecting its and fresh colours are the pillars of WU’s new dynamic profile to the world. design. The new visual identity will make WU One major step in this process was to introduce an even stronger brand on the international a single name to represent the University in higher education market, differentiating it from both German and English. The name WU was other schools and universities and conveying already in use and well-known in the GermanWU’s values: breadth of fields, international speaking world, is short and easy to remember, orientation, academic education. and will be recognised world-wide. With the launch of WU’s new website in Therefore, in 2008, Wirtschaftsuniversität December 2009, the re-branding process was Wien decided to use and position the complete. The existing site was evaluated with abbreviation “WU” as its name both nationally regard to content and especially usability, and internationally. The full German name and then the structure of the German as well “Wirtschaftsuniversität Wien” remained the as the English sites was re-designed, with the same, and the English name was shortened main emphasis on increasing user-friendliness to “Vienna University of Economics and for the various target groups. The site's visual Business”. presentation was developed in accordance with The new corporate design was developed WU’s new corporate design, making the new soon afterwards and launched in May website an attractive and interesting location to 2009, increasing recognition and visually gather information. emphasising WU’s profile. The new look and feel represents WU’s spirit as a modern, dynamic www.wu.ac.at and innovative university.

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Re-branding in Helsinki: Aalto University up and running The Helsinki School of Economics or HSE, the Finnish CEMS academic member, has recently become part of a new university in Finland, Aalto University. The School is now called the Aalto University School of Economics. Aalto University merges together three leading universities in Finland, in the fields of Business and Economics, Science and Technology, and Arts and Design. The combination opens up new possibilities for strong multidisciplinary education and research. The new university's ambitious goal is to be one of the leading universities in the world in its specialised disciplines. The re-branding process covers all three previous independent universities which all now operate under the same Aalto University brand. The basic version of the Aalto University logo is A?, a simple visual message that asks “What is Aalto University?” and invites participation: “What would you like Aalto University to be?” The logo has no single static form; instead, it can adopt a number of variations by combining the letter A with other punctuation marks: the versions A! and A” are the present variations. The varying symbols modify the significance of the A, indicating that Aalto University is not completely pre-defined and is open to discussion, questioning, and different perspectives. The Aalto University logo uses the primary colours: blue, yellow, and red. For effect, a further eight secondary and tertiary colours, picked evenly from the colour wheel, are used in the image as a whole. Please visit the website www.aalto.fi for more information.

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Logotype Aalto University Schools of Economics

CEMS Magazine | JUNE 2010

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Self-Branding: keeping it real…

CEMS Magazine | JUNE 2010

Writer: Cornel Prinz

Cornel PRINZ

Client adviser, UBS

Cornel Prinz - a former UBS graduate trainee – currently works as a client advisor for institutional clients. Here Cornel shares his own experiences on self-branding.

In today’s environment the job market is more competitive than ever. It is therefore essential to know who you are, what you stand for and what you want before you enter the job market. Self-Branding can help market yourself and set you apart from other candidates.

What could I bring to a company? I started my Self-Branding exercise with an intensive look at my own personality. I analysed the market and the product: me. To analyse the market you can read job ads and find out what most employers are looking for. Like a marketer I wanted to determine opportunities and threats. I studied law but the financial markets had always fascinated me and so I definitely saw my future in financial services and banking. As a next step I listed my strengths and weakness focusing on key skills and abilities that differentiate me from other candidates. After this I outlined added values that only I will bring into the company.

Make companies remember my brand A known brand has more value than an unknown brand. Therefore, brand communication is crucial. Your appearance is your personal image; clothing and grooming is important. It is the first impression you make when you enter a room, before you say even one word. Check the style of the sector you are interested in, or ask someone you know about the company dress code. Storytelling is an important skill; people can remember information better when connected to a story. Is there a story which says a lot about your personality? Tell them. “My” story is about ice hockey. During my interview for the UBS graduate programme I told the recruiter a story about my time as an ice hockey player. Now every time we meet he asks me something about ice hockey. He never forgot the story I told him; it made a clear impact and has helped him remember me.

Students and alumni – get visible and get recruited! Every day dozens of recruiters from our distinguished Corporate Partners are in search of the best talent to meet their executive sourcing needs. By registering and updating your profile in the CEMS CV database, you will make yourself visible to over 60 leading corporations handling hundreds of experienced and executive opportunities every year.

University Marketing Manager, Swiss Reinsurance Company “A proud CEMS Corporate Partner since 1996, Swiss Re knows well the intrinsic value of the CEMS DNA. As your career progression continues, why not take advantage of the opportunity to keep in touch with a community of HR professionals who will value your background?”

Ilonka van Osch

CEMS alumna 2007 & Internal Auditor, Shell

"One day Shell called me... They had found my résumé in the CEMS database and asked me whether I wanted to talk about possible employment opportunities... I have been working for Shell for two years now. As an internal auditor I am visiting various locations to see whether and how processes can be improved."

What are you waiting for? Get visible!

More information: www.cems.org/career

Cristina Istria CEMS alumna 2002, Talent Supply Senior Manager (Western Europe Employer Branding & Attraction), P&G

At the end of the day Self-Branding is not an act. Be your authentic self and don't play a role. Branding yourself means outlining your strengths, showing the added value you will bring and articulating your expectations. The target is to be remembered, positively, by people you have met.

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Dorthe Jung Habersatter

“Keeping your alumni profile is key as companies are increasingly focusing recruiting activities on a 1-1 basis approach. P&G uses the database to look for interesting profiles and propose jobs. Do not miss a great job opportunity because of an outdated profile! From an alumni standpoint, it is also great to look up my CEMS friends and see where they are in life now”

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CEMS Magazine | JUNE 2010

feature Frederik Leloup (CEMS '91) belongs to the first generation of CEMS graduates, having studied AT the Louvain School of Management and ESADE – Barcelona.

Interview with Frederik LeLoup CEMS '91

He is known amongst the CEMS community, via CEMS Magazine and his hosting of the September 2008 Student Board Meeting in Valencia, for his company Sailing Team (www.sailingteam.com) and his involvement as CEO of the Carbon Challenge Academy. In 2009, in order to generate and facilitate the vital move towards a new Economy based on other paradigms, he launched “Spirit of Change” (www.spiritofchange.biz) and defined its mission as follows: "Accompanying people and professional teams - actors of Change in Society - by working on Intelligences and Values". This new approach is the natural pursuit of the path initiated by Sailing Team and followed over the past 15 years.

BRAND STEWARDSHIP

- the new mission of future marketeers

In this environment of Spirit of Change, he collaborates with Mattèo Piano and Gregor Küpper, partners and founders of Greenhouse | BBC (www.greenhouse-bbc.com).

Brand Equity will increase the appeal of the brand, increase its customer share, increase the commitment to the brand, increase the numbers of brand evangelists and disqualify other brands as alternatives. We have to make a difference between Circumstantial Sales Increase (CSI) and Sustainable Sales Increase (SSI). CSI is the result of sales increase linked to circumstantial change, like promotions. Once the circumstantial factors go back to normal, sales will drop to (or even below) the level of before the promotions. SSI, however, is an increase of sales that is not circumstantial, but due to the commitment of its customers to the brand. An increase of Brand Equity will generate Sustainable Sales Increase.

Q. How do you affect Sustainable

Sales Increase? A.

Q. How do you look at the current

challenges of a marketeer? A.

higher its value and the stronger its impact on sales. The more easily a brand is replaced, the lower its value and the weaker its impact on sales.

Being a marketeer in 2010 is not really what you would call a glamorous job. When suddenly the effectiveness of marketing is questioned altogether by the Chief Executives - because of the crisis - then it takes little imagination to know that we live in the dark ages of marketing. Like any crisis though, this current one has the potential to bring marketing to its next level - Marketing 2.0.

Brand equity can be affected by circumstantial or relational factors. When a brand is the only competitor on the market, then the brand has a very high circumstantial Brand Equity, because it is not easy to replace. This kind of Brand Equity is mostly rational. However, once the circumstances change, this brand will be easy to replace.

Q. What about branding? A.

In the recent past, branding and marketing were treated like rivalling objectives. One would either choose to boost sales, and risk corroding the brand, or choose to increase the brand equity, and have to wait a long time to see the effects on sales. This approach has for many decades divided marketers in two camps: the traders and the stewards.

When a brand has developed a strong emotional relationship with its stakeholders and customers, an increase in the number of competitors would not result in a higher churn rate. When a brand relationship is strong, a brand is very hard to replace by other brands - because of the emotional bond. This kind of Brand Equity is not circumstantial and in Mattèo Piano’s opinion more valuable.

Q. You mention Brand Equity, what Q. Are you saying that Brand Equity definition has your preference? A.

The term “Brand Equity” is a subject for discussion, resulting in countless papers and books. There are many definitions adopted, taking years to find a consensus. I would like to adopt Mattèo Piano’s (CEO of Greenhouse | BBC) definition of Brand Equity. He discovered that when all Brand Equity definitions and theories are put together it comes down to one simple definition, namely “the level of irreplaceability of a brand”. The more difficult a brand is to replace the

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CEMS Magazine | JUNE 2010

is the only objective for the future marketeer?

A . Yes and no. In the past Brand Equity and Sales were considered almost conflicting. In fact they are not, they are interdependent. One cannot separate Brand Equity from Sales. A strong brand is a brand that combines Power and Performance. It is the Power of the brand that will increase its Performance. A strong

First of all we have to understand that “sales” is a complex objective, in the sense that sales depend on a number of variables – so-called Sales Performance Indicators. You cannot impact sales, unless you can stimulate the variables that influence sales. These Sales Performance Indicators cover the whole customer lifecycle: pre-sales, sales and after sales. Second, we need to understand how a Brand Relationship will impact each of these Sales Performance Indicators.

Brand Relationship needs to be emphasised during a Customer Contact Moment to influence the Sales Performance Indicators and engage the customer to become a brand ambassador. If this is done in consistency and coherency with the brand’s personality (driven by the brand-DNA), then not only the sales process will be stimulated, but the marketeer can capitalize on his past marketing efforts.

Q. What is the benefit of this

approach for the Marketeer? A.

Besides a higher Return on Marketing Investment, the marketeer will have more control over spending. He will be able to predict which part of the sales process will be affected and what could be expected in terms of contribution to the Brand Equity, all in one approach. Last but not least, his level of accountability will be unparalleled, because he will be able to motivate each choice, based on a pre-defined process and relevant measurements.

Q. Is there a company that has

developed a methodology that integrates all these insights? A.

Third we need to identify the different Customer Contact Moments that cover the whole pre-sales, sales and after-sales lifecycle.

Currently I am partnering with Greenhouse | BBC. They are the only company on the market to have converted biotic growth principles into a Brand and Sales Driven Marketing methodology. They have succeeded in developing a holistic brand and sales process with a limited number of variables that cover the entire customer lifecycle. In other words, it’s exhaustive.

It is crucial for the future marketeer to have the full view of his or her customers’ lifecycle and all the variables affecting it. It is the availability of the big picture that will increase his sense of control. Without the big picture the details will make little sense or no sense at all.

Their unique process has identified Brand Relationship Variables (nine KPIs) and correlated them to Sales Performance Indicators. Their Brand Relationship Scan is the only tool that can measure the correlation between a brand relationship and sales.

Q. Can you be more concrete? A.

As I explained earlier, we need to start from a holistic process in order to understand the impact and correlation of each marketing variable. This means that the future marketeer has to have a clear understanding of the entire customer lifecycle (pre-sales, sales and after-sales). The “sales” moment is only a fragment in the whole process. The marketeer has to define what Sales Performance Indicators need to be stimulated in order to promote the customer to the most prolific phase of the customer lifecycle. Then he needs to understand what part of the

Finally, Greenhouse | BBC has developed the StratoPlanner™ that gives a correlated overview of all variables in one matrix, covering the full customer lifecycle. Its objective is to provide marketeers a tool to enable fast and accurate choices with the highest level of accountability. I collaborate with Greenhouse | BBC because I believe that it resonates with the philosophy of Spirit of Change, which is my company. I like to link myself to companies who are not afraid to shift paradigms and innovate consistently. In other words, not only have a story to tell, but be pragmatic enough to come up with real solutions. Spirit of Change is all about economical holism and that is what Greenhousz | BBC also stands for.

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Think Tank

CEMS Magazine | JUNE 2010

CEMS Magazine | november 2009

Davide Sciannimonaco CEMS 1997

Regulations: the use of some hedging techniques may be restricted by local regulations for specific currencies.

Knowing the size of the exposure and having selected an appropriate hedging technique are only the premises of a successful hedging. Knowing when to place the hedge is critical – in other words the key element is correct market timing. A parallel of foreign exchange hedging can be made with rowing a boat: strength alone does not suffice: timing and technique are required too. Similarly, while the typical hedger will probably keep the risk within reasonable bounds, the hedger using timing stands to gain more for the same effort. A number of techniques are available to cover In this sense, the general hedging specific exposures. The main distinction is approaches are of three varieties: Hedge and hold: the hedge is established at between internal techniques where the company the moment the exposure is created, and acts on levers it can easily control (such as ALM, carried till the end of the transaction. This is pricing, financing, etc.) and external, where the the classic form of hedging, and for the way company seeks a third party (usually a bank) it is structured and implemented it always who is willing to position itself on the opposite has a related cost and it never allows for a side of a foreign exchange trade (forward net gain. agreement, swap, options, etc.). Nevertheless, Modified hedge and hold: is the first in choosing the appropriate hedging technique, alternative that introduces the concept of the following factors should be used as key timing, as the exposure is hedged only reference: once the market conditions are considered Performance: the technique should first and favourable – the decision to delay the hedge foremost perform the designated function, leads to increased risk, potential for windfall that is, offset the exposure. profits and the requirements for a decision Cost/risk: the hedge must be placed at a process that determines when the hedge reasonable cost, usually a small fraction of should be put in place. Selective hedge: is the more aggressive the potential loss, or sometimes at no cost alternative, attempting to hedge the exposure at all. Time: the hedge must conform at the when the market is going against the exposure period. exposure and to be unhedged otherwise. Flexibility: the hedge must meet the sensitivity of the exposure it is designed to cover – e.g. Central to the latter two alternative methods protecting a contingent future sale (that may are the concepts of actively managing risk and or may not materialise) with a binding its reverse side, opportunity. The firm that forward agreement may result in the knows how to profit from its risk management company ending up with a speculative is invariably in a superior position to the firm posit ion if t he sa le f ina lly does not without such knowledge. materialise.

Managing foreign exchange risk The volatility increase in the currency markets over the past few years (see fig: 1), a clear break from a relatively quiet period, has brought back to centre stage the importance of correctly managing foreign exchange risk for companies active on international markets, whatever their size. Risk implies opportunity; therefore blindly applying a full hedge is not always the best course of action. This brief article will introduce the key elements of foreign exchange risk management, looking at how to manage risk and profit from opportunity. The starting point is to assess correctly the exposure, or the level of risk. This differs from company to company, both in terms of size - smaller businesses with a few foreign transactions per year versus multinationals facing multiple exposures each day – and structure – centralised structures vs. parent/subsidiary de-centralised structures. As well, differences in terms of business models will impact whether measurement of risk focuses on balance sheet or cash impact.

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CEMS Magazine | JUNE 2010

Figure 1

As a general rule, measuring exposure requires two fundamental questions to be answered: first, where did the exposure originate? Second, in what currency is the exposure denominated? Risk management is the preservation and control of foreign currency denominated assets and liabilities. The term hedging, when applied to foreign exchange, is often simply viewed as taking an offsetting currency position in the forward or future market. But hedging is much more than this. Hedging is a whole process that should begin with the top management recognising the potential impact currency risk can have on the organisation and structuring adequate procedures for controlling that risk.

Writer: Davide Sciannimonaco CEMS 1997

THINK TANK

CEMS Magazine | november 2009

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Davide is a CEMS Alumnus (class of 1997) who has been involved with the CEMS Alumni Association for a long time, having been elected President of the CAA from 2000 to 2004, and currently acting as treasurer of the LC France. Fully adhering to the CEMS sprit, he has conducted a thoroughly international career path that started in Vienna, Austria, in 1996 shortly before graduating from CEMS. He subsequently moved to Paris in 1999, and after a very brief stint as a management consultant, moved back into finance joining the trading room of Société Générale (CEMS Corporate Partner). In 2006, he joined a Swiss-based boutique investment research house to help develop their Paris office, and in the autumn of 2009 set-up DS Advisors, a company that specialises in advising SMEs in managing their foreign exchange risk. www.ds-advisors.com

CEMS Magazine | JUNE 2010

THINK TANK

Members of the CEMS Faculty Group on Gender and Diversity Management

The website of the book is: http://us.macmillan.com/ thefutureinternationalmanager

NEW CEMS BOOK: THE FUTURE INTERNATIONAL MANAGEr In December 2009 a new CEMS book was published entitled “The Future International Manager: A Vision and Duties of Management"

student & alumni focus LC WARSAW EVENTS

Creation of the CEMS Gender & Diversity Management Faculty Group

(edited by Laszlo Zsolnai and Antonio Tencati, Palgrave Macmillan). The book is a product of collaborative effort of 17 CEMS professors representing Università Bocconi, Milan (Italy); Copenhagen Business School (Denmark); Corvinus University of Budapest (Hungary); EGADE - Tec de Monterrey (Mexico); Erasmus University Rotterdam (The Netherlands); London School of Economics and Political Science (United Kingdom); Norwegian School of Economics & Business Administration, Bergen (Norway); University College Dublin (Ireland); University of St. Gallen (Switzerland); and Vienna University of Economics and Business Administration (Austria).

Comprising professors from 13 CEMS member schools and chaired by Prof. Edeltraud Hanappi-Egger (WU), the latest addition to the impressive list of CEMS Faculty Groups brings the current total to 14. The purpose of the Group is to establish a professional network that provides a platform for intensifying research and teaching related activities in the field of gender and diversity management. The objectives are: to promote understanding of the opportunities related to a diverse workforce to prepare students to take leadership roles in diversity issues in organisations to develop a consistent curriculum and up-to-date study material for CEMS students to intensify shared research on gender and diversity to increase the visibility of internationally relevant topics in the CEMS network to deepen the scholarly discourse on local adaptation of diversity management.

Based on the CEMS MIM Qualification Framework professors developed a new management profile. In their view the future international manager is a reflexive practitioner who is committed to environmental sustainability, exercises social responsibility, works with sensitivity in the context of gender and diversity issues, harmonises information and communication technologies with processes and organizational culture, applies holistic perspective in problem solving, cooperates with social and political actors, and is engaged in progressive entrepreneurship. Unless future international managers demonstrate that they serve the common good in their daily practice, the legitimacy and moral standing of the business profession remain questionable. There is a hope that CEMS graduates—together with the graduates of other committed business schools—can change the business profession for the better.

The group comprises the following academics: Edeltraud Hanappi-Egger (WU), Janne Tienari (AALTO), Annette Risberg (CBS), Henriett Primecz (CUB), Mohammad Ayub Khan (EGADE), Nils Jent, Nils (HSG), Julia Nentwich (HSG), Gudrun Sander (HSG), Marie-Thérèse Claes (LSM), Johan Berglund (SSE), Jenny Lantz (SSE), Mary Ann Danowitz (WU), Heike Mensi-Klarbach (WU).

Futher information about the project and about follow-up activities can be received from Laszlo Zsolnai, Corvinus University of Budapest (laszlo_zsolnai@interware.hu).

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Writer: : Katarzyna Zaniewska & Jedrzej Litwiniuk LC Warsaw

LC Warsaw installs a new tradition – the monthly CEMS wine meeting A new tradition has been born: more than 20 CEMS alumni and students gather every last Tuesday each month in Vinoteka (wine restaurant) in Warsaw to integrate and renew old acquaintances and make new ones with a glass of good wine. The Warsaw CEMS Alumni community has about 250 members and adds some 30 new ones every year. In January 2010 it was decided to launch a series of monthly meetings so as to give the Warsaw community a firm reference point, so that everyone now has an opportunity to meet CEMS mates regularly. Luckily, participation so far has been pretty satisfying. Both new graduates and those who finished the programme a number of years ago come to the meetings. The venue is not accidental. Vinoteka – a concept store hosting a restaurant, fashion boutique, wine lounge and even a small swimming pool - is quite a place. It is located in a unique spot, one of exquisite charm and with traditions dating to the beginning of the 19 th century. In fact, it is

one of the few buildings on Krakowskie Przedmiescie Street in Warsaw which survived the years of WWII. While the building is old, the wine restaurant is quite new. Despite the glamour the place is rather empty on weekdays, so it is a win-win situation. The wine selection is vast and the wine-by-glass offer is quite affordable. The coordinator of this event, Katarzyna Zaniewska, said: "It's very important and necessary to maintain social relations after the programme. In my opinion, monthly meetings serve very well both the integration of the whole CEMS community in Poland and as a think tank for further initiatives." We hope the word will spread and the meetings will indeed became a firm spot on many a Warsaw CEMS alumni’s calendar.

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CEMS Magazine | JUNE 2010

Student & Alumni focus

CEMS Magazine | JUNE 2010

EVENTS AT WU Writer: Maike Hartung CEMS Corporate Relations Coordinator, WU

Events at WU 2010

This year started with some great celebrations, informative events and exciting student parties at the Vienna University of Economics and Business.

CEMS goes to the WU Ball on 9th January

Launch Event on 5th March with A.T. Kearney

For the third year in a row the CEMS office at the Vienna University of Economics and Business invited their corporate and academic partners to the annual WU Ball. This event is always a highlight of the year at WU and an inherent part of the Viennese Ball Season. We were delighted to be able to have three table loges only for our partners and to be able to offer them such a special ball experience. It was an unforgettable night where we celebrated our great cooperation during the past year but also the great work lying ahead of us. The atmosphere in the Wiener Hofburg was truly amazing and we are looking forward to welcoming our partners again next year for another night of glamour and celebration!

On 5th March we had the obligatory CEMS Launch Event which consisted of a scavenger hunt during the day and an exclusive evening event sponsored by A.T. Kearney. In the morning we met up in one of Vienna’s many coffeehouses, had breakfast together and briefed our students about what would happen during the day. Susanne Krieber and Maike Hartung, CEMS coordinators in Vienna, organised a scavenger hunt through the city where the students were given little riddles about places they then had to find, tasks to take pictures of various monuments, people or situations on the street and also questions about Vienna which were to answer. The whole purpose was for them to bond with each other and also for the incoming students to get to know Vienna. After four hours of running around in extremely cold weather, the students returned to the coffeehouse where we then hired out the basement, which is normally a club at night. There the students had time to chat with each other, exchange experiences from the hunt through Vienna and also had a few bites to eat. Soon we started the presentation of all the pictures the students had taken during the day and they themselves then voted for the winners. The pictures were all great and extremely amusing and we were very proud of the students and their creativity and ability to think outside the box.

The WU-L’Oréal “Pimp your CV” event

At night the launch event continued at one of Vienna’s most stylish clubs – Palffy Club – which was exclusively rented by A.T. Kearney for our CEMS students. We started at 8pm and the students were greeted by Dr. Robert Kremlicka, who is the head of A.T. Kearney in Vienna. He introduced his team and explained to the CEMS students why they are highly valued at A.T. Kearney and what assets and abilities a company like A.T. Kearney is looking for in a prospective employee or intern. After the speeches there was some time for food and drinks and of course some networking with A.T. Kearney representatives. The students enjoyed the laid-back and approachable atmosphere created by A.T. Kearney and had a truly amazing night out.

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Dr. Robert Kremlicka, head of A.T. Kearney Vienna

Pimp your CV on 12th March with L’Oréal and Career Services One week after our Launch Event and therefore also at the beginning of the second semester we were thrilled to offer our students a different kind of event. Together with Mrs. Martina Eder, HR Manager of L’Oréal, a professional photographer and our Career Services we created a “Pimp your CV” event for our CEMS students. This event offered major benefits for all sides: for one we were able to provide our students with an indepth CV check by professional HR consultants as well as giving them the opportunity to be styled by a make-up artist from L’Oréal and then have their photos taken for their CV – which they could then purchase for a special price as opposed to spending ten times as much for them if bought regularly. Furthermore, we are now in the possession of great pictures for standardised CVs of our students which we will turn into a booklet for our Corporate Partners. This way they know immediately which students are appealing to them and who they may want to invite to an interview. This event was such a great success that we have decided to definitely organise one just like this again in the autumn with all the new students and the updated CVs. The students were grateful for the professional advice regarding their CVs, to get professional pictures at a great price with professional styling and also being able to network with L’Oréal.

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CEMS Magazine | JUNE 2010

Student & Alumni focus

AZ GRADUATE INTERVIEW

Interview with Melinda Strebely Q. Tell us about where you studied

and your MIM specIALisation?

A. I joined the CEMS community in 2006 and I studied two Master’s

Melinda Strebely

CEMS 2009, Global Transactional Finance AstraZeneca Plc

programmes (M.Sc. in Finance and M.Sc. in International Management) at the same time. Besides having MIM courses at my university in Budapest, spending my autumn semester abroad in Louvain-la-Neuve at the Belgian Université Catholique de Louvain (UCL) gave me the possibility to further develop my French language skills. Courses, which I chose during this semester, included International Law, Project Management and Supply Chain Management.

Q. Post MIM qualification,

what was next for you?

A. I had actually already agreed to join the AstraZeneca Finance Graduate

Programme before completing my CEMS qualification, so moving to the UK and starting in employment were the next steps for me.

Q. Did you ever attend the CEMS

annual Career Forum? If so, how was your experience there?

I attended the Paris event in November 2008 and I considered this event as a great opportunity to get to know the CEMS Corporate Partners, listen to advice and discover career opportunities. It was there in Paris where I first heard about the Finance Graduate Programme.

Q. What interested you in a career

with your current employer?

Obtaining work experience in several fields during my studies as an intern gave me the chance to have a precise idea about what I wanted in my future career. One of my aims was to get involved in an industry that truly works on the challenges that I consider essential. I wanted to work in a fast changing, dynamic environment with lots of new opportunities. My strong interest in pharmaceuticals actually has early origins as both of my parents are doctors in Hungary. In addition to this AstraZeneca has a very good reputation in my country of origin. This career opportunity for me is a great chance as I can work in an industry I like and in the domain I have studied, which is finance, and gain a further management accounting qualification through studying for CIMA.

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Q. Tell us about your current role A.

My current role is in Global Transactional Finance within the department Record to Report. We are operating as a shared service centre receiving financial data from the local marketing company in various European markets and reporting this data to the group level. My team is responsible for the French market, which is the largest in Europe for AstraZeneca. I truly enjoy working in a multicultural environment with people from all around Europe and beyond. This environment is much like that of the CEMS programme and I like it! In addition, it is great to use and practice my French language skills as I work in both French and English.

Q. How do you feel your MIM qualification

has influenced your start in corporate life and continued studies for the CIMA qualification?

A. Having studied CEMS you know you have been to the best business

school in the country (as there is only one member per country). So as a member of CEMS, you have a very good base for the CIMA qualification. I find studying for CIMA very interesting and even more business focused than my previous education. And my role within AstraZeneca is exactly the type of role I expected to get after the MIM. CEMS prepares you for this type of graduate programme in every aspect. My studying abroad in English has also been very useful, both in work and studying for the CIMA qualification.

Q. In your time at CEMS what did you learn

about Corporate Social Responsibility?

Even though I was offered to choose courses about CSR, I opted for other options. However even in the modules I did - which were not directly linked to CSR - CEMS raised awareness and helped me to understand the importance and the meaning of CSR.

Q. Did CSR considerations impact on your

choice of employer?

Yes it did. I wanted to work for an ethically conscious company. Generally AstraZeneca had a good reputation in Hungary not just for good medicines but being a company that cares.

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CEMS Magazine | JUNE 2010

Student & Alumni focus

Malgorzata Wawrzyniak-Siroky President, LC Austria

A global agenda for the March EC-LC alumni meeting On 12th-14th March the Executive Committee and the Local Committees of the CEMS Alumni Association met in Vienna. Together with the representatives of the Local Committees, the Executive Committee discussed various topics, namely the upcoming Annual Events in Rotterdam in December, the globalisation of the CEMS Alumni Association and the roll-out of CEMS groups in social networking platforms. Logically, one of the most burning issues was the upcoming Annul Events in Rotterdam, where a special programme dedicated to alumni is in the process of being set up. More alumni than ever will be attracted to join the Annual Events and profit from a great professional and networking opportunity! Generally speaking, work has also advanced on the proceeding globalisation of CEMS, with the first alumni from schools in Sao Paulo, Singapore and Sydney now a part of the CEMS alumni network. The CEMS Alumni Association will continue to support them in their alumni activities and thus strengthen the alumni network globally. Also the introduction of official CEMS groups on networking platforms for each Local Committee is progressing rapidly, with the Vienna event having provided the opportunity to take stock of the work achieved so far.

LSM-CEMS student recognised at CSR awards ceremony On 23rd February the inaugural Philippe de Woot prize ceremony was held in recognition of the Master’s student thesis considered to have made the most original contribution to academic thought on the issue of Corporate Social responsibility. This inter-university prize will be awarded every two years. The recipient of this year’s edition was Marie Bertrand, a Louvain School of Management and CEMS student. Further information on the prize and the award ceremony is available at http://www.uclouvain.be/313468.html (in French).

Obituary Dear CEMS Community, last year we suffered a painful loss. It is our duty to inform you that Joanna Kowalska, known by many by her short name Asia, passed away in the dawn of 24th November 2009. She left us much too young and much too soon. Joanna was an active member of our community, motivating and enthusiastic. She had an attitude of setting the bar high for herself while at the same time always being helpful to others. Her curious and courageous personality took her far, as she loved to travel and discover new places. We share in the mourning of her loved ones whom she had to leave behind, in particular her parents, her grandparents and her fiancé. The CEMS Community

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Joanna Kowalska CEMS member