IMD Annual Report 2019

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IMD ANNUAL REPORT 2019

Our ambition, in the years ahead, is to set the standard for business schools in the area of sustainable development, from energy use to diversity and responsible leadership.

Last but not least, we decided to re-examine our values in the context of this new North Star. We had three values to guide us: Open, Collaborative and Pioneering. Our discussions led us to make three decisions: We first agreed that these three values were still very relevant to our new direction. Still, we decided to re-order them to lead with the word “Pioneering”. Third, we decided to add a fourth value: We chose the word “Brave” to remind ourselves that it takes courage to challenge what is, inspire what could be and develop leaders who transform organizations and contribute to society. It also takes courage to maintain a pioneering spirit while ensuring that IMD is a vibrant, diverse and inclusive workplace.

PIONEERING

OPEN

COLLABORATIVE

BRAVE

How are we doing mid-mandate? 2019 was the third year, and hence the middle year, of this President’s mandate. It is also the third year in a three-year reinvestment cycle agreed in November 2016 by our Foundation and Supervisory Boards. The rest of this Annual Report providesadetailed reviewofwhatweaccomplished in 2019 on all the important fronts, so let me try to highlight just a few key points in this section. This three-year cycle saw us increase revenues by about 25 percent, coming after eight years of relative revenue stagnation. This revenue increase came from all types of programs (degree as well as non-degree, open, custom, online as well as blended) and all regions of

the world. Some of this increase came from the launch of new open programs; some came from the expansion of successful programs, and part also came from the repositioning of some existing programs. On the custom program side, we expanded capability-building programs, but we also advanced substantially our unique IMD Pathfinder transformational journeys, one of our key priorities for 2019. All these positive outcomes were largely enabled by the 2018 reorganization of our business development activities and the continued investment in these units. On the faculty side, 2019 saw the arrival of six new colleagues, all of whom had a very successful first year. With the 2017 and 2018 hires, we have now