“Listening to your audience is key”

CROSSROADS

Jaime Caruana assessed the financial crisis in a visit to the Barcelona campus.

JAIME CARUANA, GENERAL MANAGER OF THE BANK FOR INTERNATIONAL SETTLEMENTS (BIS)

Tips for Safeguarding the Economy

l Taking advantage of favorable tailwinds to increase the resilience of the economy through structural reforms that go beyond monetary policy to boost productivity. This is the course of action recommended by the Bank for International Settlements (BIS) to counter the latent threats of the financial environment, explained its general manager, Jaime Caruana.

In the July 3 alumni session at IESE Barcelona, Caruana said we are safer than before the crisis and things have improved in many ways, although “systemic risks have also evolved.”

Specifically, he pointed out four potential risks that need to be given special attention: the flare-up of inflation; the maturation of bullish financial cycles, especially in emerging economies like Brazil and China; growth fueled solely by consumption, rather than by investment; and, finally, the threat of protectionism.

MARK THOMPSON, CEO OF THE NEW YORK TIMES

“Listening to your audience is key”

lIn both journalism and politics, listening is key, says Mark Thompson. The CEO of the New York Times believes the ability to listen and respond to your audience may be the secret to enduring success in these two sectors, which have so often been at odds in recent times, especially in the United States.

He discussed how the press is adapting to the changing political landscape and shared his insights on the shifting language of politics, in a session held on June 7 at the IESE campus in New York. Rhetoric is about opening your ears and listening to the other side, said Thompson.

Mark Thompson discussed politics and journalism at IESE New York.

ÁLEX CRUZ, CEO OF THE COMPANY, WITH ALUMNI IN LONDON

British Airways Adjusts its Course

Álex Cruz spoke in London about the future of British Airways. lIn May, an I.T. systems failure grounded hundreds of British Airways flights and confirmed that the company needs to step up investments in customer service, and halt a “trend in brand depression,” according to its CEO, Álex Cruz. “We have entered an era of new products and services, with significant mergers and acquisitions changing the competitive space,” he added. “Regaining the confidence of our customers; operations with a focus on safety and reliability; efficiency and implementing improvements in technology,” as well as prioritizing staff, are some of the pillars of the plan that Cruz shared in London with IESE alumni in attendance on July 11.