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1 IESE Alumni Association Annual Report

2 This report was submitted to the approval of the Governing Board of the association at its meeting on February 9, 2010.

3 CONTENTS A Message from the President I 3 The IESE Alumni Association I 4 Continuous Education Program I 5 Global Alumni Reunion I 9 Other Educational and Networking Activities I 10 Communication: Launch of the Alumni Portal I 15 Publications I 17 Professional Career Development I 18 Membership I 20 Financial Report I 22 Leading IESE Projects I 24 Scholarships for MBA Program Students I 24 Research Excellence Awards I 24 Research Projects I 26 Faculty Development I 26 Government of the Association I 27 Association Services I 31 Annexes I 33

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5 The Continuous Education Program A message FROM THE PRESIDENT In presenting the IESE Alumni Association s Annual Report for , I would like to reflect briefly on the significance of the mission and goals we share. Our mission dates back to 1958, and maintains its relevance today while also keeping an eye on the future. The association continues to encourage lifelong learning for executives, with a focus on the human and social values that the school has always upheld. We also seek to continue providing meeting points where members can network and strengthen lasting ties. We enjoy the continued support of the school and its faculty members, who are always eager to share their latest research findings with graduates. Similarly, we must energetically seek to contribute to the development of the association s activities all over the world. I sincerely thank all members for their continued support in this regard. I invite you to review this report and learn about the many IESE Alumni Association activities that have taken place over the past year. Best regards, Antonio González-Adalid (MBA 75) Annual Report

6 The Continuous Education Program the IESE ALUMNI ASSOCIATION MISSION To bring together alumni who seek to maintain ties with IESE, promoting ongoing education activities and encouraging collaboration among themselves and with the school. AIMS The association s aims are as follows: Promote and develop ongoing education for alumni around the world. To establish and foster professional and social relationships between IESE s alumni. To support IESE in the task of improving businesses to the service of humankind and society in general, contributing to the school s educational objectives and encouraging the development of business management teaching and research. Increase awareness of IESE and its activities. PARTICIPATION IN ACTIVITIES ORGANIZED BY THE ASSOCIATION Attendance Continuous Education Program 21, IESE Global Alumni Reunion 3,177* Class Meetings 2,542 Other activities 2,359 TOTAL 29,381 * Of these, 1,000 alumni participated simultaneously online. 4 IESE Alumni Association

7 Continuous Education Program CONTINUOUS EDUCATION PROGRAM The Continuous Education Program is the association s core activity and as such receives the most resources. In an increasingly global environment, the program is extending its presence in various countries around the world, thanks to the encouragement and continual support of our alumni chapters. During the school year a total of 191 sessions were held with an attendance of 21,303 participants. Thus, as reflected in the attached tables, in the case of Spain there is a clear increase in the number of attendees, despite having been more selective in the total sessions offered this year. There has been a significant increase in average attendance per session, 153 attendees, which is up 27.5 percent from Internationally, during the academic year the Continuous Education Program reflects the efforts made during the past two years to boost the activity of the association s flagship service. The Continuous Education Program outside Spain has grown by 64.5 percent over the past 3 years in terms of the number of participants, with a total of 3,076 attendees. Ultimately, and as can be seen in the attached data, the association has maintained a steady pace of growth outside Spain since This year, 72 meetings were held in 28 different cities with 3,076 attendees representing an increase of 64.5 percent in the number of participants and 45 percent in the number of sessions over the In addition, significant savings in the use of facilities have been made through sponsorships in sessions taught outside of Spain. We greatly appreciate our alumni s support in making these venues available, which has made possible this increase in international activity. And we take this opportunity to invite you to continue helping us to ensure that our activities keep expanding. Annex I details the specifics of the Continuous Education Program sessions. Annual Report

8 Continuous Education Program CONTINUOUS EDUCATION PROGRAM Special SESSIONS In , the Continuous Education program focused particularly on the impact of the economic downturn, with 26 special sessions held in 14 cities, attended by 5,296 participants. The many sessions offered include: The association is especially thankful for the collaboration of IESE faculty, essential for ensuring the rigor and quality of the Continuous Education Program. The Economic Crisis: in the Eye of the Storm, held at the Madrid and Barcelona campuses with a total of 1,456 participants, with professors José Ramón Pin, Javier Díaz-Jimenez, José Luis Suárez and Juan José Toribio in Madrid, and professors Pedro Videla, Antonio Argandoña, Eduardo Martínez Abascal, Núria Mas and Sanjay Peters in Barcelona. Building the 2020 Company, with 653 attendees and the collaboration of professors Pedro Videla, Antonio Argandoña, Jordi Canals, Alfredo Pastor, Xavier Vives, and speakers from the business world Salvador Alemany, Abertis chairman and president of Círculo de Economía; Simón Pedro Barceló, co-chairman of Barceló Corporación Empresarial and president of the Family Business Institute; Francisco Belil, chairman of Siemens Southern Europe, and Francisco Rubiralta, president of Celsa. Getting Through the Crisis: View From CEOs, was attended by 417 participants and included the collaboration of professors Xavier Vives, Joan Roure and Pankaj Ghemawat and IESE IAB Members Rolf Breuer from Deutsche Bank; Michel Camdessus from Banque de France; John Carter of Munich Re. and National House Building Co.; Oscar Fanjul of Omega Capital; Toyoo Gyohten from the Institute for International Monetary Affairs and Bank of Tokyo-Mitsubishi; Isak Andic of Mango; Hans-Jacob Bonnier from of Bonnier AB; Andrea Christenson of Kätekruse Puppen GMBH; Franklin P. Johnson of Asset Management Co.; Stanley Motta of Motta International; Mariano Puig of The Puig Group; J. Gerhard Heiberg of Norscan Partners; Hans Ulrich Maerki of Swiss Re ABB; Johan Schrøder of Schrøder Foundation; Nicholas Shreiber from Tetra Pak International and Ermenegildo Zegna of Ermenegildo Zegna. Tackling the Crisis: Steps to Overcoming It, attended by 353 participants and moderated by Prof. Juan José Toribio, also included the involvement of professors José Manuel Campa, Javier Díaz- Jimenez, and José Ignacio Conde Ruiz, director of economic policy of Spain s Economic Office of the Prime Minister and Professor Fernando Fernández Méndez de Andés. We also had the honor of hearing from high-profile speakers, both at the Barcelona and Madrid campuses, and all chapters meetings. These included Jeffrey R. Immelt, CEO of General Electric Co.; Onno Ruding, former Dutch Government finance minister, Daniel Thorniley, senior vice president of The Economist Group and Professor John Quelch, Harvard Business School. 6 IESE Alumni Association

9 Continuous Education Program CONTINUOUS EDUCATION PROGRAM ATTENDANCE IN SPAIN Barcelona Madrid Levante Aragon Navarra, Basque Country, La Rioja Balearic Islands Andalusia Galicia * Meetings Attendance Meetings Attendance Meetings Attendance ,228 5,799 1, ,322 6,336 1, ,592 6,086 1, Total Spain , , ,227 Average Attendance In sessions outside Spain, the objective was to sustain activity, although with major savings through sponsorships in the use of facilities. CONTINUOUS EDUCATION PROGRAM Attendance OUTSIDE SPAIN Germany United States Brazil United Kingdom Poland France Switzerland Japan Belgium & Luxembourg Colombia Russia The Netherlands Mexico Argentina & Uruguay China Peru Italy India Chile Nordic Countries Canada Others * Meetings Attendance Meetings Attendance Meetings Attendance Total outside Spain 49 1, , ,076 Total in Spain + outside Spain , , , * Special sessions related to IESE s 50th anniversary in have not been considered part of the Continuous Education Program since they are extraordinary, non-recurring events. Annual Report

10 Continuous Education Program E-CONFERENCES E-conferences - sessions accessible online - are becoming an increasingly appealing source of ongoing learning for members. Thirty-eight new sessions were re-broadcasted and a total of 81 were broadcasted in , receiving a total of 18,390 hits. Thanks to this service, 2,288 members were able to access IESE sessions from anywhere in the world. See Annex II for details on these sessions. SHORT FOCUSED PROGRAMS, INDUSTRY MEETINGS AND SEMINARS IESE offers special rates to Members and Alumni who wish to participate in Short Focused Programs and industry meetings, which the school organizes every year. During the academic year, 38 Short Focused Programs, 10 industry meetings and 3 seminars were held. 8 IESE Alumni Association

11 2008 Global Alumni Reunion 2008 GLOBAL ALUMNI REUNION The IESE Global Alumni Reunion, our hallmark annual event, is a meeting point for learning from peers, teachers and other invited speakers, and it is also a wonderful opportunity for meeting up with old friends. The 47th edition of the Global Alumni Reunion was held in Madrid on October 23 and 24, under the theme The New Dynamics of Global Business. It was the culmination of all the activities which the association carried out related to the school s 50th anniversary. Professors José Manuel Campa and Juan José Toribio were the academic directors. Moreover, prominent business leaders and academics shared their knowledge and experiences with 3,177 alumni from 49 countries (of which 1,000 joined online), which once again demonstrates the association s global scope. The atmosphere was cordial and relaxed, as always, was also charged with a valid concern about financial events on the international stage, as evidenced in successive sessions and colloquiums. EVENT IN MADRID On the eve of the academic sessions, Ms. Esperanza Aguirre, President of the Community of Madrid, gave a welcoming reception in the seat of the autonomous Madrid community. It was an enjoyable opportunity for alumni and their spouses to mingle. ACADEMIC PROGRAM Welcome Jordi Canals, Dean, IESE Antonio González-Adalid, President, IESE Alumni Association Juan José Toribio, Professor, IESE Speech Lawrence Summers, Professor and former President of Harvard University, and Charles Elliot, former Secretary of the Treasury, United States. Moderator: Juan José Toribio, Professor, IESE Today s Global Economic Climate: The Multinational s Experience José Ignacio Goirigolzarri, BBVA Javier Monzón, Chairman, Indra Rafael del Pino, Chairman, Ferrovial Moderator: Pedro Nueno, Professor, IESE Global Macroeconomic Outlook: The Ongoing Adjustment in the International Economy José Manuel González-Páramo, Executive Board Member, ECB Nouriel Roubini, Professor, New York University Moderator: José Manuel Campa, Professor, IESE Ethical Values and the Challenges of the Global System Michel Camdessus, gouverneur honoraire, Banque de France Janne Haaland Matlary, Professor, University of Oslo Moderator: Nuria Chinchilla, Professor, IESE Connecting the World: From Traditional Networks to On-line Integration Nick Earle, Senior Vice President, European Markets, Cisco Systems, Inc. Steve McGowan, Senior Vice President, Nielsen Media Research Moderator: Sandra Sieber, Professor, IESE Annual Report

12 Other Educational and Networking Activities OTHER EDUCATIONAL AND NETWORKING ACTIVITIES MBA ALUMNI REUNION The MBA Alumni Reunion, held in Barcelona every two years, held its seventh edition with 842 MBA program alumni from 37 countries who re-lived their IESE experience with their professors. This time it was held on May 30 at the new campus, serving as an opportunity for graduates and their families to meet. The graduating classes (MBA 69, MBA 74, MBA 79, MBA 84, MBA 89, MBA 94, MBA 99 and MBA 04) also held their five-yearly meetings at the same venue. Welcome Prof. Jordi Canals, Dean, IESE Prof. Luis Palencia, academic director, 2009 IESE MBA Alumni Reunion Mireia Rius, Director, IESE Alumni Association Parallel Sessions I Los 10 errores más comunes en la toma de decisiones Prof. Miguel Ángel Ariño Diseño y desarrollo de las trayectorias personales y profesionales Profª. Mª Nuria Chinchilla Equity Markets: What Has Happened and What May Happen Prof. Javier Estrada Make it Different Prof. Carlos García Pont Understanding the Economic Crisis: The Role of Financial Instruments Prof. Fernando Peñalva Podría la ética haber evitado la crisis? Prof. Antonio Argandoña Parallel Sessions II Errores habituales en la planificación y el control y cómo solventarlos Prof. Alberto Fernández Terricabras Soft Power: A Question of Personal Magnetism and Persuasive Communication Skills Prof. Brian O. Leggett Private Equity After the Shakeout Prof. Heinrich Liechtenstein, Michael Brigl (MBA 05), The Boston Consulting Group Cómo sobrevivir y ser competitivos a corto plazo Prof. Jaume Llopis The Financial Crisis: Analysis, Reasons, Lessons Learned Prof. Eduardo Martínez Abascal Trends in Emerging Markets Prof. Pedro Videla Liderazgo relacional positivo Prof. Alberto Ribera Session for each of the graduating classes celebrating five years MBA 69, MBA 74, MBA 79, MBA 84, MBA 89, MBA 94, MBA 99, and MBA IESE Alumni Association

13 Other Educational and Networking Activities II EMBA Alumni Reunion Madrid, April 24, 2009 Time for Leaders Welcome Prof. José Ramón Pin, academic director, EMBA Natalia Centenera, Director, Madrid Alumni Division Opportunities in the Uncertainty Prof. Juan Roure, IESE Sharing Experiences Mónica Garay, CEO, UBS Bank (EMBA 92) Román Merino, expert on company restructuring (EMBA 94 and PADE-A 05) Pedro Soria, vice president and managing partner of The Boston Consulting Group, Spain branch (EMBA 92) Moderator: Prof. Juan Luis López Cardenete, IESE The Spanish Economy and its Pending Reforms Prof. Javier Díaz-Giménez, IESE REGIONAL CHAPTER MEETINGS The regional chapters promote other educational sessions among alumni in their area, in addition to the regular Continuous Education sessions, thus providing an opportunity for networking and personal interaction. The following regional meetings took place in the school year: ARAGON REGIONAL CHAPTER MEETING Zaragoza, June 18, 2009 Labor Market Prospects in Spain Welcome and Presentation of the Meeting Juan Antonio García Toledo, President, IESE Alumni Association Aragon Regional Chapter Mireia Rius, Director, IESE Alumni Association Sessions Sandalio Gómez, Professor of Managing People in Organizations, IESE Jesús Morte, CREA president and CEOE vice president Colloquium Moderated by Professor Sandalio Gómez Closing Antonio Alaustré Tierra, Labor and Immigration Director General of the Government of Aragon Annual Report

14 Other Educational and Networking Activities 3rd MEETING OF THE BALEARIC ISLANDS CHAPTER Palma de Mallorca, June 4, 2009 Welcome and Presentation of the Meeting Raúl González, President, IESE Alumni Association Balearic Islands Regional Chapter Mireia Rius, Director, IESE Alumni Association Masters of our fate. How to strike a balance between our professional, family and personal lives Prof. Nuria Chinchilla, Managing People in Organizations, IESE Lessons from Marshall Rommel and General Patton: Learning to Manage the Supply Chain Prof. Frederic Sabrià, Production, Technology and Operations Management, IESE 3rd MEETING OF THE GALICIA REGIONAL CHAPTER La Coruña, June 10, 2009 Opening Luis Fernando Quiroga, President, IESE Alumni Galicia Regional Chapter Mireia Rius, Director, IESE Alumni Association Rafael Villaseca, CEO, Unión Fenosa Management Keys. Is Something Changing? Prof. Alberto Fernández Terricabras, Accounting and Control, IESE Panel: Galicia and its New Challenges Jesús Alonso, CEO, Jealsa Arturo Dopico, CEO, R José Ramón García, Chairman, Blusens Moderator: Prof. Antoni Subirà, IESE Economic and Financial Aspects of the Situation Prof. Antoni Subirà, Financial Management, IESE 8th MEETING OF THE LEVANTE REGIONAL CHAPTER Valencia, February 19, 2009 Counter-crisis Strategy: Competitiveness Welcome and Presentation of the Meeting Íñigo Parra, President, IESE Alumni Association Levante Regional Chapter Mireia Rius, Director, IESE Alumni Association Policies for Emerging from the Crisis Javier Gómez-Navarro, President, Superior Council of Chambers of Commerce Strategy and Business Models Prof. Joan Enric Ricart, Strategic Management, IESE 12 IESE Alumni Association

15 Other Educational and Networking Activities 50TH ANNIVERSARY OF THE PADE PROGRAM IESE took its first steps with the PADE Program on November 25, The association s final event to celebrate IESE s 50th anniversary paid tribute to those early entrepreneurs and managers who generously put their trust in IESE when the institution was just a developing project. It involved all alumni who had completed the PADE over the last 50 years, with meetings held at the Madrid and Barcelona campuses. 50TH ANNIVERSARY CELEBRATION CEREMONY FOR IESE S PADE PROGRAM The academic preparation of top corporate executives: their role in society and their responses to the crisis Madrid, November 24, 2008 Panel moderated by Professor Juan José Toribio, Director, IESE Madrid Enrique Sendagorta, Chairman, SENER Nemesio Fernández-Cuesta, Executive Nuria Vilanova, President, Infopress Carmen Alonso, Director, Banco Santander Closing: Jordi Canals, Dean, IESE Barcelona, November 25, 2008 Speech by Jordi Canals, Dean, IESE Panel moderated by Professor Pedro Nueno, IESE José Maria Pujol, Chairman, FICOSA International José Maria Serra, Chairman, Grupo Catalana Occidente Panel moderated by Professor Carlos Cavallé, IESE José Felipe Bertrán, Chairman, Fundación Bertrán Regina Llopis, President and CEO, Aplicaciones de Informática Avanzada José Martínez-Rovira, Vice President, Havas Media Mariano Puig, President, Fundació Puig Annual Report

16 Other Educational and Networking Activities CLASS MEETINGS The Alumni Association offers support to the representatives of each class to organize regular meetings with their fellow graduates. During the school year, 83 meetings were held at IESE s Barcelona and Madrid campuses, with a total of 2,542 alumni in attendance. In addition, the Alumni Office has helped organize 38 other initiatives for graduating classes that have been held outside IESE facilities. SENIOR MEMBERS Our members are deeply committed to the association. In return for their loyalty over the years, the association pays tribute to members who celebrate 25 years as part of the association by presenting them with an award. This event was held on May 25 in Barcelona and on July 2 in Madrid, and 154 members received this distinction (see Exhibit III). There are now a total of 1,366 senior members. 14 IESE Alumni Association

17 News: Launch of the Alumni Portal Communication: ALUMNI PORTAL LAUNCHED After surveying Alumni Association members regarding the association s communication strategy, we launched a new portal in order to continue strengthening ties with our alumni, boost involvement in the Continuous Education Program, increase association membership figures, keep closer communication and provide members access to all knowledge generated by IESE. By offering a simple and intuitive navigation, more tools and a theme-based structure, over 8 million pages have been visited since January 2009, up 39 percent since Here are some of the salient features of the four major areas around which the portal is structured: Continuous Education: This section includes the main service of the association, the Continuous Education Program, as well as access to all IESE knowledge, through the IESE Insight portal. Two out of three members who enrolled in a Continuous Education Program session did so online. The portal also offers access to the calendar of meetings being set up around the world, the documentation for the meetings and a feature for adding guests. The e-conferences received 18,390 visits during the academic year. July 2009 saw the launch of IESE s new management publication, IESE Insight Review, which is sent to all members via . This quarterly magazine features in-depth articles with a practical focus written by international experts, and it is published entirely online. The alumni community has expressed great satisfation with this new resource. International Community: This section allows alumni to stay in touch with each other through the alumni directory and virtual communities. From here you can also access all the events promoted by the association worldwide. This year, 84 virtual communities have been created. During 2010 virtual communities will be created for each Regional Chapter and for all graduating classes that request it. Advanced search features have been added to the Alumni Directory. All news items include a Send to a friend option. Career Development: The site provides a robust platform for managing Career Development support services for members. This section of the site has received the greatest number of hits, with 56,900 visits since its launch (see details on page 18). Resources and Services: This section features all the services which the association offers its members. It includes the Alumni Magazine, access to , membership card advantages and the possibility of asking faculty members brief questions, among others. Annual Report

18 News: Launch of the Alumni Portal The digital version of the Alumni Magazine is read by 6,000 alumni. More than 22,800 alumni receive the Newsletter every month via . Sixty alumni have requested a copy of their degree through the site. Eighty-eight have addressed brief questions to IESE professors. COMMUNICATING WITH ALUMNI We have reviewed all digital and printed communications and promotional material, to ensure consistency in tone and message with the portal. This year over 30 different templates have been created for each Regional Chapter and both the content and layout of the alumni Newsletter has been re-designed. Content is decided based on our alumni s interests and focuses on four major areas: continuous education, career development, knowledge of IESE and association news. The Newsletter averages 8,500 readers per month and triggers more than 2,500 visits to various IESE links such as programs, publications, etc. 16 IESE Alumni Association

19 Publications PUBLICATIONS Alumni are kept informed of activities and developments in IESE research through various publications. ECONOMIC OVERVIEW This monthly publication, published in English and Spanish, is one of the services which members value most. Each month, professors from IESE s Department of Economics review the state of the global economy with interesting and readable opinion pieces, providing an academic overview of the latest economic changes. The hard copy of Economic Overview is sent to all Alumni members in Spain, and back issues are available on the association website. IESE Insight IESE Insight is IESE s knowledge portal. It offers access to studies, case studies and teaching materials developed by IESE professors and researchers. A free monthly e-newsletter is sent out to subscribers highlighting the latest developments. ALUMNI MAGAZINE The Alumni Magazine is a quarterly report on developments around IESE. Its content is divided into three main section which combine research, information and services. The Alumni Newsletter, published monthly, offers a summary of planned activities organized by the school and the Alumni Association worldwide. This electronic publication makes it easy for alumni to stay in touch with the association, make inquiries and provide suggestions. IESE INSIGHT MAGAZINE This quarterly online management magazine features in-depth articles by international experts from a practical perspective. Annual Report

20 Career Development Support CAREER DEVELOPMENT SUPPORT With assistance from the Managing People in Organizations Department at IESE and the Career Planning Support Committee comprising members with expertise in this area who share their knowledge and advice, the Alumni Association has expanded and added new services related our members career development in the following four main areas. SELF-KNOWLEDGE AND PROFESSIONAL DEVELOPMENT In order to support members in developing their managerial skills, find areas for professional improvement and explore avenues for personal growth, various exclusive online programs have been added to the Alumni site. There is also the possibility of receiving direct support via meetings with IESE faculty in the Managing People in Organizations Department. The Alumni portal makes it possible to schedule face-to-face or virtual meetings to share the results of previously assigned tasks. This structured advisory network is led by IESE faculty, and in all cases the first consultation is free. The different types of meetings offered include: Diagnostic Interview: A personal support interview may be requested to explain one s personal situation, priorities and interests in order to receive career guidance and counseling. Professional Coaching: The aim of this service is to enhance executives self-knowledge, lead to the discovery of personal challenges to improve their competence profile, and offer tools for overcoming them. It features the academic direction of Professor Paul Clarke. Life Coaching: This type of coaching is ideal in times of change and uncertainty and is headed by Professor Nuria Chinchilla. It is a process of support for decision making at various stages of career and personal paths, from the integrated overview of the different spheres of life (professional, personal, family, social, etc.) SUCCEED PLATFORM The SUCCEED platform, developed with support from the Department of Career Services for its initial design, allows IESE members to review and plan their careers and personal paths by focusing on seven stages. The stages are not meant to be in chronological order. Users may follow any order or focus only on what interests them. 18 IESE Alumni Association

21 Career Development Support The seven SUCCEED stages are: Self-assessment: allows an assessment of foundational life and career issues, since knowing oneself is the first step towards improvement. Understanding the market: knowing the market in advance facilitates the exploration of the various possibilities. Taking advantage of the professional experience of others is also very useful. Choosing your options: Developing a career plan with the right approach is crucial. Ideally, your job should be something you enjoy. Creating your brand: knowing how to sell your track record is as important as knowing your ideal job. Having the right tools and knowing how to use this is essential for this. Executing your action plan: setting medium-term goals and marking them on a calendar can be very useful: the more clear and concrete the plan of action is, the greater its effectiveness. A good network of contacts should also be developed and maintained. Evaluating your opportunities: before making a decision, all factors should be considered. Knowing them in advance opens up good negotiation opportunities. Developing your future career plan: when setting out on a new career, short and long term reviews should be carried out to see if professional targets are being met. Since the new Alumni Portal was launched a few months ago, services have grown steadily. The interactive platform, available in two languages (Spanish and English), will continue to expand to meet the needs and interests of association members. Content and programs are added regularly, thanks to research carried out by the Department of Managing People in Organizations at IESE. CAREER WORKSHOPS In addition to one-on-one work with the personalized advice of IESE faculty members, Alumni members have career-focused Continuous Education workshops which give them the opportunity to improve their skills. During the academic year 11 sessions were held at the Madrid and Barcelona campuses, with a total of 1,892 participants. CAREER OPPORTUNITIES AND ENHANCED JOB DATABASE Under Career Opportunities, users can perform customized searches by sector, area, salary range, location, etc. The system lets users save their preferences for future reference. In ,500 job offers were posted. Annual Report

22 Membership MEMBERSHIP At the end of the school year the association had a membership rate of 42 percent. Alumni profiles are becoming increasingly diverse, in keeping with the high proportion of international students taking part in the school s programs which make the association increasingly more global. The Alumni community from outside Spain now accounts for almost 14 percent of the total, with 4,244 alumni, sustained 12 percent year-on-year growth and over 90 countries represented, as outlined by Regional Chapters in the table. Membership was up from 2006, but dropped slightly by 0.7 percent this academic year as compared with 2007, due primarily to the impact of the global crisis, which has also affected our alumni community. Because this decline was expected, in January 2009 the executive committee approved a series of measures to prevent an even greater drop. Members were given the option of paying their fee in split payments. Each membership cancellation is followed up personally and the cause for cancellation, whether personal or professional, is determined. New career services are launched to support all members who are suffering the effects of the crisis in the workplace (see detail in the Career Development Support section). Thanks to these measures, together with considerable effort in pursuing alternative sources of income (sponsorship, partnerships with public and private entities, etc.) the association has seen a 7.2 percent increase in its income (see Financial Information chapter for details). 20 IESE Alumni Association

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