INSEAD Alumni Speak 2010

www.insead.edu Insights into general management,career change, entrepreneurship,social impact careers and makingyourself visible in challengingeconomic times.

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INSEAD Alumni Speak 2010 1www.insead.edu

Europe campusBoulevard de Constance77305 Fontainebleau, CedexFrance

Asia campus1 Ayer Rajah Avenue138676 Singapore

Editors:Jacky Barrett and Laura Cook at GTI; Diane Yelland at INSEAD

Produced by:

GTI Media Ltd, The Barns, Preston Crowmarsh, Wallingford, Oxon OX10 6SL UKTel: +44 (0) 1491 826262Fax: +44 (0) 1491 826401E-mail: [email protected]

Publisher:Chris PhillipsAdvertising:Kirsty Drummond, Chris Houdley, Jonathan Nicholl,Fiona Reay, Michael TrailorDesign & production:Nick WinchesterProofreader:Laura WheatAdministration:The GTI client support teamISBN: 1 84318 613 6ISSN: 1479-9979

Printer:Headley Brothers, Ashford, Kent, UK

AcknowledgmentsThe staff of INSEAD’s Career Services and GTI wouldlike to thank the students and alumni who havecontributed articles and the organisations whichhave supported this guide.

© INSEAD and GTI, January 2010. All rights reserved.No part of this publication may be reproduced by anymeans including, but not limited to, photocopying, orstored in a retrieval system in any form without priorwritten consent of INSEAD and GTI. The viewsexpressed in articles are those of the authors andtheir publication does not necessarily imply thatsuch views are shared by GTI. While every care hasbeen taken to ensure the accuracy of the informationin this guide, the publishers take no responsibility forany inaccuracy therein.

This is the tenth edition of Alumni Speak and we are surethat, like admitted candidates, students and alumni ofprevious classes, you will find it a valuable source ofinformation and inspiration as you consider the next steps ofyour career.

This year we continue to build on the section on socialimpact careers first introduced two years ago. ChristineDriscoll (MBA 06) who has recently joined INSEAD’s SocialInnovation Centre (ISIC) as Associate Director, introducesthe sector along with profiles of recent and more senioralumni who are making their mark in this area.

Professor Filipe Santos has been appointed as the Director of the Rudolf and ValeriaMaag International Centre for Entrepreneurship at INSEAD and contributes theintroduction to the entrepreneurship section. This centre bears witness to the focus thatINSEAD wishes to reinforce in strategic areas for teaching, research and outreach.

Senior alumnus Daniel Porot (MBA 66), an internationally recognised career expertand a guru in his field, offers some words of wisdom on convincing recruiters to hireyou in challenging economic times.

In addition you will read alumni stories from two other recurring fields of interest:general management and career change.

The INSEAD alumni global network is one of the richest you may ever belong to,with more than 39,500 graduates, nearly 19,000 of which are MBAs, in 160 countries.We encourage you to make the most of their experience, seek them out and establishcontacts. Alumni featured in this magazine include entrepreneurs in the extreme sportsand online travel industries, top managers and directors in hugely successful globalcompanies, as well as those striving for change with charities and foundations. We areconvinced that these examples will provide you with ideas of how to conduct your jobsearch and spark your imagination as you begin the journey towards the career you areseeking.

The final section of Alumni Speak takes a look at ‘vital statistics’ – league tables,salary information and listings of employers. These are recruiters who are eager to makecontact with you and we would like to thank them for supporting this publication.As you may know, INSEAD’s Career Services offerings also extend to its alumnicommunity. This means that whether you have been admitted to the MBA programme,are a current student or an alumnus/a, we are committed to supporting you throughyour next career steps. During the recent economic downturn Career Services added fivenew members to their team to deal with the anticipated increase in activity that wouldbe required. This decision was not only to ensure that the current class had access to thesame level of opportunities as in previous years but also to help those MBA alumni whosuffered during the downturn by giving them full access to the Career Services network.

The Career Services team would like to extend grateful thanks to the ever increasingnumber of INSEAD alumni who continue to give their support, whether by relatingtheir stories for this publication, offering advice to current students and posting jobopportunities for them, participating in panels and round tables on campus, coachingstudents or interviewing candidates both to join the MBA programme and foremployment on graduation. We look forward to their continuing involvement and tocounting you among them in the future!

Career Services

Welcome

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INSEAD Alumni Speak 2010 3

IContents

www.insead.edu

CAREER SERVICES AT INSEAD

4 Career Services at INSEAD: An Introduction

GENERAL MANAGEMENT

7 Introduction – General management – where could you work?

8 Alumni working in general management

CAREER CHANGE

13 Introduction – Changing your career successfully and makingyourself visible

16 Alumni who have mastered a change of career

ENTREPRENEURSHIP

23 Introduction – Entrepreneurship @ INSEAD: building businesses ina global world

24 Alumni working in an entrepreneurial culture

SOCIAL IMPACT CAREERS

29 Introduction – Social impact careers – new opportunities for MBAs

30 Alumni from NGOs and social enterprises

VITAL STATISTICS (FACTS, FIGURES AND LEAGUE TABLES)AND EMPLOYERS WITH VACANCIES

36 Consulting statistics and employers

38 Finance statistics and employers

40 Industry statistics and employers

Accenture ....................................................................37Booz & Company........................................................IBCCiti ................................................................................38Credit Suisse ..............................................................39DE Shaw & Co ..............................................................39Deutsche Bank......................................................14, 39HSBC ......................................................................IFC, 39Marakon ......................................................................37The Parthenon Group ..................................................37Rolls-Royce ............................................................6, 40UBP ............................................................................OBC

INSID%... %MPLOY$S...

IFC = inside front cover IBC = inside back cover OBC = outside back cover

4 INSEAD Alumni Speak 2010

Career Services at INSEADI

www.insead.edu

During your time at INSEAD the unique learningexperience will help you to better understand the world

and when you have completed your MBA to help you expandyour world. But it is INSEAD’s Career Services team that willhelp you open your mind to choosing the best possible careerpath so that you can, in turn, have a positive impact onbusiness. The Career Services team is the primary connectorbetween recruiters and students. Its members globallypromote the MBA talent pool and help to inform and prepareparticipants for diverse career opportunities.

This high-calibre team works in partnership with you toshape your career objectives, hone your job-finding skills andhelp you develop your job search strategy. Fully integratedacross both the Europe and Asia campuses, INSEAD CareerServices is made up of career counsellors, workshopfacilitators and sector specialists; a global team designed toensure that you get the most out of your time at INSEAD.Workshops and counselling sessions are provided throughoutthe year and are scheduled across both campuses.

With professional experience and contacts in variousindustries and countries, our sector advisers work closelywith the MBA participants on their job search strategies,particularly for sectors and companies that do nottraditionally recruit on campus.

Career Services at INSEAD


ICareer Services at INSEAD

www.insead.edu

Professional career counsellingAll MBA participants are assigned a first counselling appointmentwith one of our external counsellors. This person will follow theparticipant throughout the programme and assume the role ofpersonal coach. Those who wish may sign up for additionalmeetings. Counselling sessions can cover a number of topics, such asgeneral orientation and interpretation of self-assessment instruments.The sector-advising sessions cover job search strategy, letters ofmotivation, CV assistance and information on approaching specificsectors and companies.

Workshops and seminarsA comprehensive series of seminars and workshops takes placethroughout the year. Topics covered include self-assessment, CVwriting, job search techniques, networking, interview techniquesincluding mock interview practice, sessions on body language and salary negotiation. In addition, discussion panels, with alumni participation, are also scheduled regularly, providing relevant information on sectors and companies.

Access to job opportunitiesCareer Services facilitates students’ access to a wide variety oforganisations. International companies from around the world visitthe two campuses during each of the twice-yearly main recruitmentseasons. Video conferencing is used to link recruitment on the twocampuses. In addition to on-campus recruitment, there are severalother ways through which Career Services provides access to jobopportunities. Job postings, contact names in companies, CVdistribution lists and targeted CV books, networking opportunitiesduring workshops and seminars are a few examples.

A typical Career Services calendar:

Self-assessment P1/P2

Figure out what you want to do andstart selling yourself

• Self-assessment• Career orientation• CV book and external CVs• Summer job information session

(December graduates)

Job search preparation P2/P3

Develop your job search strategiesand job-hunting skills

• Job search and networkingskills

• Job search inAsia/Europe/Middle East

• Industry chats• Presentation skills• Body language

Research P3/P4

Prepare for interviews and salarynegotiations

• On-campus recruitment (OCR)starts

• Interview techniques and salarynegotiation skills

• Case study interview skills• Interview simulations• Panel discussion series

Job opportunities P1–P5

Reaching a decision

• OCR continues• Off-campus recruitment• Job postings

The 2008 graduates*How they found their jobsINSEAD Career Services/Alumni 48%

Own contacts/Networking 19%

Pre-INSEAD employer 25%

Summer jobs 4%

Creating own company 4%

* Statistics for the 2009 graduateswill be available in May 2010

MBA opportunities As one of the best known and most respected names in engineering,

we have built success on a century’s worth of excellence and

innovation. And with £56bn worth of orders on our books, an annual

R&D spend of £900m, and a long-term strategy to light the way, we

are confident we’ll be playing a leading role for a long time to come.

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Stretch yourself further and accelerate your career.

Visit www.rolls-royce.com/careers/mbas

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Power. Innovation. Progress.

Business Development, Business Improvement, Commercial Sales and Marketing, Engineering, Finance, Human Resources, Information Technology, Operations Management, Purchasing


IGeneral management

www.insead.edu

In this section we have asked INSEAD alumni, with a variety ofmanagement roles, to define general management and describe

their functions in some detail. What are their main day-to-dayconcerns? What was the attraction of general management? Was it what they expected? Did their studies at INSEAD come inhandy and how did their previous career experiences contribute totheir current skill set? We find people at various levels ofmanagement – some functional, others much broader – todiscover the similarities and differences between their jobs. And –most importantly for current MBA students – the mostappropriate level for which to aim.

The majority of the general managers in the following pagesdescribe a career process of patience and strategic moves. Many ofthem bided their time over a period of several years, usually inconsulting or specialist functions, before attaining the generalistrole that they had been aiming for since their MBA. It thereforeseems likely that general management is a significant ultimatecareer destination for many INSEAD graduates.

The other common themes that emerge from the followingpages include:• You should never underestimate the ‘people management’

element of the job. ‘Juggling’ skills are also essential.• General management does not differ radically from one

industry to the next.• However, the size of the organisation and its stage of

development can make general management jobs very differentfrom each other.

• Comparatively few general managers have ‘general manager’ astheir job title. Managing Director, CEO, President and CountryManager are a few of the more common alternatives.

The skills behind general management1. People management/leadership/motivation/teamwork – cited by the

general managers in this section more than all the other skills puttogether.

2. Multi-tasking/juggling/prioritising/coping under pressure – aninevitable part of all general management jobs which are, bydefinition, multi-faceted.

3. Decision-making and judgement – often with limited information atyour disposal.

4. Listening/communication – another ‘people’ skill that should not beunderestimated.

5. Financial acumen and the ability to deal with numbers.6. The ability to see the bigger picture and the strategic level – while also

keeping (but not being distracted by) a hands-on mentality.

General management – where could you work?A common career aspiration for MBA participants is ‘general management’. But this term can be quite hard to define – and the jobs even harder to find.


General managementI

www.insead.edu

The reality of the jobI run Rosetta Stone Inc., which is a US-based company that is changing howpeople learn languages. Our solutions aretechnology-enabled and teach languagenaturally, without translation or grammarexplanations. In addition to thecompany’s headquarters in the US, wehave offices in the UK, Germany, Koreaand Japan. We have around 1500employees and have continued to growdespite the challenging economicenvironment.

My schedule varies from day-to-day.On a typical day I arrive at the office at7.00 am to do some work on strategicinitiatives, followed by a videoteleconference with the internationaldevelopment team. We have employeesfrom five different countries discussingways to expand our internationalposition. There’s a debate over how to dothings so that ideas work locally, withoutupsetting the overall global strategy.

Next up, I review how we’re going toimplement a new solution for developingEnglish conversation and fluency thatwe’ll sell primarily in Asia. After that I review the new print ad concepts andour website conversion analytics. We made changes to the site earlier thismonth and we are eager to see the results.After lunch with the brand team in thecafeteria, I squeeze in a foosballtournament against the financedepartment. My day ends with meetingsto discuss new business models andpreparing for an earnings call.

Why general management? I went into general management because Iwanted to run a business and see thingscome to life. I love that I can see thingsgo from concept to reality. It’s aboutexecuting on your vision and buildingsomething – that’s more rewarding thangenerating ideas or providing advice.

Skills for a general manager• Passion and energy around winning.

Leadership starts with committing to apurpose that appeals to your team.Sustaining it relies on your enthusiasmand energy. Since there are alwaysbumps in the road, you need to haveresilience – so you can bounce back.

• Comfort with risk. Dealing withuncertainty is intrinsic to the role of aGM. You have to take risks, but thekey is to have a killer risk managementprocess. I think that we spend toomuch time selecting which bet to make– rather than making testing and riskmanagement our focus.

• Authenticity in communication. Whenthings aren’t right, your team knows itso I tell it like it is and admit mymistakes publicly. Instead ofundermining my authority, I have

found that this kind of humility andstraightforwardness means that my teamfeels that they can speak plainly whenthey meet challenges.

The experience behind the skillsI did not have a lot of experience cominginto my current role; however, INSEAD didan excellent job preparing me intellectually.The broad range of subjects that I studiedmeant that I could think about issuesbroadly. Learning how to work in a groupwas also key. Today, I know a lot moreabout what’s involved in leading, but muchof it was just learned on the job.

Likes, dislikes and surprisesLaunching new products is alwaysexhilarating. This summer we launchedour newest offering – Rosetta StoneTOTALe, a next generation languagelearning solution – and it has beenwonderful to see user response. It isexciting to build something from theground up and see how it can changesomeone’s life. Like so many executives mybiggest struggle is that I wish I could spendmore time with my young daughter. I leavebefore she wakes up and am often backafter she’s gone to bed.

Tips for success• Ask for the opportunity to show what

you can do.• Obsess about your business, how to win

and how to build a great culture.• Take principled positions and refuse to

compromise your mission or values.

Create evangelists, change the world.

Tom Adams. MBA 01J.IAGE AND NATIONALITY 37. Swedish.

BEFORE INSEAD Commodities merchant at Trafigura, a commodities trading firm.

AFTER INSEAD AND CURRENTLY Rosetta Stone CEO.

CEO of language learning solutions provider

Launching newproducts is alwaysexhilarating.


IGeneral management

www.insead.edu

The reality of the jobI am responsible for Apple’s global retailsales programmes, providing programmeleadership and direction to regionalteams in the US, Canada, Latin America,EMEA (Europe, the Middle East andAfrica) and Asia and the Pacific. I spentthe last two years based in Beijing, Chinabut have recently moved to California.

Worldwide travel is central to myrole and part of my day is usuallydevoted to planning upcoming tripswith the retail sales teams I’ll be visiting.Conference calls and meetings arealways on the agenda – whether meetingwith the Asia Marketing Director orRetail Sales Director to discuss contentfor an upcoming sales conference, orspeaking with the Japan retail salesteam about store developments in thepipeline and the implications of newproduct launches.

Why general management?I’ll borrow a quote from Eisenhower:‘the art of leadership is gettingsomebody else to do something youwant done because they want to do it.’General management is more aboutinfluencing others than simply managingor directing them. It also provides mewith the opportunity to build teams anddevelop individuals. There is nothingmore satisfying than looking back with agroup of colleagues and being able tosay, ‘wow, look how much we’veachieved together since then.’

Skills for a general manager• Financial and management reporting –

you can’t manage what you can’tmeasure and understand.

• Strategic thinking – ensuring that youhave a long-term vision and frameworkin addition to short-term tactics.

• Presentation and communication – it’sno use having the greatest ideas in theworld if you can’t get others to buyinto them.

• People management and development –people are your most important assetand will determine whether you’resuccessful or not.

• Leadership and influence – can youinspire your team and colleagues towillingly go the extra mile for you?

The experience behind the skillsNegotiation Analysis was definitely themost useful class that I took at INSEAD.It teaches you to focus on what otherpeople want or need from a givensituation, so it’s extremely useful for thepeople management part of my job. I’veused the skills from this course incountless personal and professionalsituations over the last five years.

Strategic Management was also anincredibly useful class. Strategicmanagement is a very practical, day-to-day activity and an essential skill forgeneral management.

Throughout my career I’ve gained alot of vital on-the-job experience. Somethink that a general manager shoulddemonstrate their authority and

experience but I prefer a more humbleand interactive approach, especially whendealing with different cultures. Similarly,taking the time to build relationships withpeers, colleagues, staff and superiorsdemonstrates that you care about theirgoals and concerns.

Something else I’ve learned is to under-promise and over-deliver. Your colleagueswant to see steady, consistent progresstowards clear and measurable goals.

Likes, dislikes and surprisesI am constantly re-discovering that onecompetent (or incompetent) manager canmake a huge difference to a whole teamof people.

I’d far rather be visiting stores andtalking with customers than dealing withe-mails and conference calls, althoughthey are a necessity. It’s great to walk intoone of the stores we’ve built and seesatisfied, happy customers. Getting paidto travel to fascinating places around theworld is also one of the best perks.

Tips for successDon’t be fooled into thinking that thecompanies who make the ‘best’ productsare going to provide you with the bestpersonal development opportunities.Also, remember that you’re not going tostart out as the CEO – don’t aim toohigh when looking for a generalmanagement role after INSEAD. Find arole where you can make a differenceand get some great experience; the CEOopportunities will follow.

General management is more about influencing others than simply managing them.

David Bailey. MBA 02D.IAGE AND NATIONALITY 38. British.

BEFORE INSEAD Manager of International Sales Programmes, Gap Inc.

AFTER INSEAD Manager of EMEA Retail Sales Programmes, Apple Inc.

CURRENTLY Director of Worldwide Retail Sales Programmes, Apple Inc.

Director of worldwide retail sales


General managementI

www.insead.edu

The reality of the jobThere are two types of typical day in myjob – office days and store days. The firstis very comparable to other businesses – Icheck emails, quickly get an overview ofour sales performance, get in touch withsales managers and product managers ifthere are issues, and have a brief catch-upwith the heads of the key departments(sales, HR, finance, expansion). By then,some requests will have come in – eitherfrom Spain, our headquarters, or fromour side, where the stores communicatetheir needs through their HR and regionalmanagers. We are also constantly runninga couple of projects to improve ouroperations and cost management.

A store day is more ‘action’ and usuallyinvolves visiting a selection of stores, oftenwith some regional or HR managers. Wetalk to the staff to discover areas needingimprovement and to see if the initiativeswe’ve put in place are helping them intheir daily work. We watch how they areinteracting with the customers, and checkout the response to our collections.

Why general management?I was drawn to dealing with differentkinds of problems, rather thanspecialising in a narrow field (I guess thatsounds like a nice way of saying that I have a below average attention span!) soI sought a job with broad responsibility. It is very hard to be an expert at all thedifferent functions – and not veryrealistic. It comes down to having enoughinsight into all the areas for which youare responsible to be able to ask the

specialists the right questions and keepthem on their toes.

Skills for a general manager• The ability to switch perspective quite

quickly and frequently. What would bethe ideal solution for one area, and whateffect would this have on other functionsand people?

• People skills. You have to be able to spotthe dynamics within a team, motivatepeople to maintain a high level of energyand resolve conflicts where necessary.

• Communication. Success is dependenton the people in your organisation, sogood communication skills are essential.

• An eye for processes. Are people doingthe right things in the right way?

• The right attitude. One of my seniors(from whom I learned a lot) gave me thisadvice: do not try to be liked – try to betrusted and respected. When peopleknow they can trust you, and you leadthem in the right direction, they willstart to respect you, even for taking thedecisions they did not like. And whenthey respect you, they might even startto like you.

The experience behind the skillsThe thinking behind the game theory partof Prices & Markets, Competitive Strategyand OB from INSEAD have been veryhelpful. The skills taught in Negotiation

Dynamics are probably what I put to usemost regularly.

The underlying approach of INSEADto provide a general MBA, rather than aspecialised one, has given me a greatstarting point to understand how thefunctions and parts of a company interact.

Likes, dislikes and surprisesOne of the best bits of my job has to bethe diversity – it is what I wanted. The ‘worst’ has to be that it never stops –there is always more to do, and the tasknever ends. The market is verycompetitive, so we can never really take iteasy.

My company is by far the biggest I have worked for, but the structures aresurprisingly lean and flat, and the speedof communication as well as decision-making is great. One thing I’ve observedis something that partly defies MBAthinking: when logic doesn’t lead to theanswer, look for the ‘human factor’.

Tips for successTry to take stock of your strengths andweaknesses before you start your job.Then you can find support in areas whereyou need it, and won’t try to appearomniscient. Admitting what you don’tknow is a good start to building thatrespect from your team. As mygrandfather taught me, ‘I don’t know’ isthe only answer that fits every question.Your staff will constantly be measuringyour actions against your words, soalways keep that in mind – yourcredibility is hard currency.

When logic doesn’t lead to the answer, look for the ‘human factor’.

Arndt Brockman. MBA 02D.IAGE AND NATIONALITY 35. German.

BEFORE INSEAD Retail Manager, Strenesse.

AFTER INSEAD Retail Manager EEMEA, PUMA AG.

CURRENTLY Managing Director for German operations at Inditex, Europe’s largest fashion retailer.

Managing director for a fashion retailer

Your credibility ishard currency.


IGeneral management

www.insead.edu

The reality of the jobI started at Nike as part of a managementdevelopment programme for high-potential MBAs, which allowed me torotate across categories and exploremarketing functions over an 18-monthperiod. I had the pleasure of working inthe women’s training, football andsportswear categories. My specific jobrole changed on a daily basis because, asa general manager, I was involved at alldecision making stages within themarketing process.

I am now the Retail Brand Managerfor our Nike-owned stores in WesternEurope, looking after the Women’sTraining and Running categories. Thisinvolves taking a broader and even morecustomer-focused view of the business –my objective is to energise and promotethe brand while ensuring consumers’experiences of Nike are memorable andunique.

Why general management?After four years working at an advertisingagency, I was looking for a change. Mysights were clearly set on marketing, but Iwas still keen to explore the many sides ofgeneral management.

Becoming a Retail Brand Managerseemed a logical transition.

Skills for a general managerI think a good general manager shouldhave a degree of flexibility and humility –there are many sides to the role and it’simportant not to take yourself tooseriously.

It also stands you in good stead if youare a self-starter, and skilled at strategicthinking and multi-tasking. Organisationis important – I often find myself jugglingseveral ongoing projects and seasons atonce. You need to take this in your stride.

The experience behind the skillsMy experience in customer relationshipmanagement and qualitative research has definitely come in handy – we’reconsumer obsessed and even go as far asspending days observing them at home tounderstand what makes them tick.

Likes, dislikes and surprisesThe highlight of my time at Nike so farhas been my involvement in the globalmedia launch of Nike Sportswear and our Olympic products in Beijing’sForbidden City. This was a fantasticexperience that really validated my career choice.

I like that I’m constantly pushed tothink bigger and better and that I amencouraged to have a passion for thebrand. There’s also a strong sense of jobsatisfaction as we strive to inspire athletes everywhere.

The most difficult part of my job has been learning how to navigate theorganisation’s very complex matrixstructure.

The INSEAD influenceINSEAD helped me make the jump fromthe agency side to the client side of themarketing world. I have really enjoyedthe change and love that my role is nowmore customer focused. Two classes inparticular have served me well in mycareer post-INSEAD – Leading Groupsand People, Negotiations and BrandManagement.

Tips for successI would advise aspiring MBAs to beprepared always to have a point of view,and not to pretend that you know it all.It’s a steep learning curve and progressionis not always clearly laid out, so you haveto be assertive. Surround yourself withpeople who know more than you – askthem educated questions and thenaggressively challenge their replies.

We are consumer obsessed and even go as far as spending days observing them at home!

Deepti Suresh. MBA 07J.IAGE AND NATIONALITY 28. British/Indian.

BEFORE INSEAD Advertising Executive, Rapp Collins Worldwide.

AFTER INSEAD Brand Management Associate, Nike.

CURRENTLY Retail Brand Manager – Running & Women’s Training, Nike Western Europe.

From advertising executive to retail brand manager

The highlight so far has been myinvolvement in theglobal media launch inBeijing’s Forbidden City – a fantasticexperience.

A good generalmanager should have adegree of flexibility andhumility.


General managementI

www.insead.edu

The reality of the jobMy job is to ensure that Coles is followingits strategic direction and delivering long-term shareholder value. We do this bybreaking down our corporate strategy intospecific projects, some of which I managewith the help of different teams.

A typical day might run as follows: I begin my day with e-mail checks and aquick review of the previous day’s sales.Mid-morning I meet with our consultingfirm to discuss the major thrust of our five-year strategy. By lunch I will have hadseveral stakeholder meetings to make surethey’re engaged in the project at hand andthat their feedback is continuously takenon board. The afternoon usually sees aprogress update and brainstorming sessionwith my project team, then catching up onmy e-mails and performing individualproject analysis. The days are long butfulfilling.

Why general management?Real accountability was what gave me thebiggest thrill during my time at Unileverand, prior to that, Shell, and it was thisability to make a mark on a businessthrough large-scale people managementthat attracted me to general management.I’m enjoying getting to grips with thinkingstrategically. Of course, consistentlydelivering tangible results is vital –successful general managers are never one-hit wonders! – but the best generalmanagers balance this short-termoperational execution with effectiveforward planning towards longer-termobjectives.

Skills for a general manager• People skills – coaching people but at

the same time empathising with themand understanding their needs. And thenerve to hire people better thanyourself!

• Decisiveness – taking decisions withincomplete information (relying on acombination of fact and intuition) orwith less than 100 per cent peopleacceptance.

• Collaborative skills – the ability toadapt personal style to the businesssituation and to work in a team.

• Adaptability – the capacity to thinktop-down and then bottom-up, orswitching from operating with thedetail to operating on a high level.

• Strategic thinking – being creative andbold with a business’s future as well asproviding people with a frameworkwithin which they are free to operate.

The experience behind the skillsAbove all, the ‘soft skills’ I developed inmy previous roles have been the mostuseful in my career post-INSEAD. Thehigh level of focus on data gathering andanalysis in previous organisations hasalso left me with the ability to betterevaluate others’ work and offer feedback.At INSEAD, my core courses onOrganisational Behaviour and electives inStrategy helped me understand thefoundations on which high-performingorganisations are built, and left me withthe belief that today’s most successfulleaders are visionary strategists withexceptional people skills.

Likes, dislikes and surprisesEverything takes a lot more time than youthink! For instance, after Coles wasacquired by Wesfarmers Limited in July2007, I was expecting the organisation tohave settled into a rhythm by 2009, but I quickly realised that large-scalecorporate turnarounds take years. I hadto adapt quickly to working in astructured manner in an unstructuredenvironment which, at times, wasfrustrating. Engaging and ensuring thecommitment of stakeholders to projectswas also more time-consuming than I anticipated.

The most exciting thing about my job isbeing part of the world’s biggest retailturnaround, reporting directly to the CEO.I feel really lucky to be able to learn fromsome of the top retail minds in such a fast-paced, constantly evolving environment.

Tips for success• General management is as much an art

as it is a science. Hence attitude is moreimportant than ability.

• ‘Hard skills’ do not distinguish goodgeneral managers from great generalmanagers: being an open-minded,adaptable, decisive people person is thekey to success.

• Finally, general management can belearned. Aim to start out in a cross-functional role which involves workingwith a large group of people in acustomer-facing division – this will giveyou the most critical organisationalchallenges and help get you known bythe right people.

Today’s most successful leaders are visionary strategists with exceptional people skills.

Abhay M Varma. MBA 09J.IAGE AND NATIONALITY 27. Australian.

BEFORE INSEAD National Account Manager, Tea and Soup (Lipton, Knorr, Continental), Unilever.

AFTER INSEAD AND CURRENTLY Corporate Strategy Manager, Coles Supermarkets (subsidiary ofWesfarmers Limited).

Corporate strategy manager


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Changing your careersuccessfully and makingyourself visibleDaniel Porot, one of Europe’s leading pioneers in career design and job hunting,outlines the best way to make yourself employable during a recession –whatever your career plans – and shares his top ten recommendations for asuccessful career change.

Make yourself visibleVisibility is a must if you want to attain a fulfilling job andcareer success. It’s vital to make sure that within your job youmake yourself visible. How do you go about it?

StrategiesFirst, you could adopt an ongoing strategy whereby youcommunicate information about your achievements on a regularbasis. Choose the best channel(s) to communicate from thefollowing list of actions, without flooding others withinformation about you:• organising announcements in the press• organising/attending breakfasts• visiting exhibitions/symposiums/meetings• feeding, nurturing and keeping networks alive• publishing a paper or article in the press• acting as a personal advisor• participating in professional committees/projects• visiting resource centres• participating in roundtables• accepting expert responsibilities• conducting surveys• updating your personal website• running workshops and seminars.

Secondly, you could adopt a spot strategy, which you woulduse to reach the right person for a specific job that you haveidentified. This person, by whom you want to be noticed and

appreciated, could be your boss, if she/he is an empoweringperson, or the person for whom you would like to work in yournext job or somebody who has vision and appreciates the realvalue of your skills and potential and will be an ‘ambassador’ foryou. Let them know your goal and those of your achievementswhich are relevant for the job you’re considering.

Avoid common mistakesThese are the seven most common mistakes that people makewhen they set up a visibility strategy to promote themselves:• choosing the wrong time to communicate• not adjusting/fine tuning their pitch (both contents and style)

to the personality of their audience• using a style that is not spontaneous and authentic• saying things that hamper their colleagues• selling and pushing too strongly/heavily• not being convinced of their own message• believing that things are always obvious and do not need to be

demonstrated.

Adopt the right attitude.

14 INSEAD Alumni Speak 2010 www.insead.edu

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To make a successful career change, you need to:

1. Set goalsDefine three job targets that really attract you – and one plan B.For each target choose a title or activity in a specific field orindustry, for example CEO in healthcare or marketing managerin the airline industry. Choose five to fifteen organisations perjob target. Identify the companies’ names and addresses, as wellas the names and titles of the specific people you need to contact.

2. Validate each job targetApproach three to five people who already have your dream joband ask them how they got their job, what they like most andleast, their key tasks and skills, and names of other people doingthis job.

3. Have the desire to succeedMake sure that your desire to win exceeds your fear of losing.

4. Master the right vocabularyIdentify the 10 to 30 words specific to the field. You coulddiscover these through the internet, magazines and newspapers,conferences, face-to-face meetings, professional organisationsand trade fairs.

5. Enforce a ‘no return’ strategyAnnounce your decision to make a radical career change: tellyour friends and include your professional objective in yourletters and CV.

6. Approach the right personWhen applying for your job, make sure you approach a personwho has the power to make a decision, the ability to take a riskand the vision to see the potential outcomes that you offer.

7. Identify your high-value skill or talentA common skill in the field that you leave may become unique inthe new field that you enter. Promote your distinctive value(called relative skill) and quantify its future impact.

8. Adopt the right attitude during interviewsDo not write or say ‘I’m contemplating…’ or ‘I wish to…’ butrather ‘I have decided to…’ If applicable, mention any interestthat your interviewer’s competitors have shown in yourapplication.

9. Use non-traditional job search methodsSince you’re taking a non-traditional step, take a different searchroute to find your job.

10. Always have a plan BThis should be a back-up plan where you can be immediatelyoperational and profitable.

Daniel Porot graduated from INSEAD with an MBA in 1966. He started hiscareer with Exxon and Amoco, before launching his own business in 1971.Daniel and his team of trainers have run workshops, seminars andconferences in 30 different countries throughout the world, teaching over 50different nationalities. To date, more than 70,000 participants have attendedtheir workshops. With more than 30 years of experience, Daniel is a pioneerin the field of career design. He may be reached at [email protected].


Career changeI

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Career change storyMy career as a naval officer taught mehow to lead and motivate people. My firstexperiences included serving as Navigator,Chief Engineer on various US warshipsand finally Company Officer (parent-nanny-psychologist-teacher-mentor) for35 students at the French NavalAcademy.

I decided to head into the world ofbusiness and relocate permanently toFrance. Making such a challenging careerchange is not easy. I found the mostimportant factor is that you believe whatyou are telling your interviewer aboutwhy you want to make the change andwhy he or she should hire you instead ofanother candidate.

For me, arriving at this point requiredtaking inventory of the skills I hadacquired along the way and translatingthem into a non-sector, non-functionspecific manner, realisticallyunderstanding my own career goals, andanticipating my potential employers’needs in hiring. I then based my personalvalue proposition – why I have what ittakes for management consulting – onthese three factors.

The reality of the jobI am a Strategy Associate at Booz &Company, based in Paris. The projects Ihave worked on include thereorganisation of the back office of amultinational fast-moving consumergoods company, business development fora high-tech multinational, and definitionof the 2020 tourism strategy for a North

African nation. I’m currently delighted tobe back working with my first client,helping them with the optimisation oftheir business processes.

As in the Navy, the job is varied.Today, I am in Paris; I spent the morningpresenting a project status update to animportant client committee made up oftheir European CEOs. This afternoon, I worked with the client to refine thestrategic approach to their problem.Tomorrow I will spend the day inMadrid, leading a brainstorming sessionbetween local sales and marketing teamswith the aim of maximising the returnson their European marketing spend.

I am truly enjoying what I am doingand I love the fact that every day is sodifferent. That said, the constraints of the job are enormous. When theconstraints outweigh the gains, it will betime to tackle the question of my nextcareer step.

The INSEAD influenceWhen I arrived at INSEAD, I hadmastered management in the Navy but

I had yet to encounter a ledger book ora brand statement. INSEAD helped medevelop the skills I needed to succeed inthe business world: writingpresentations and managing clientrelationships; helping junior teammembers learn to analyse data;developing strategic recommendations;and testing them on the senior team andthen the client... I now use these skillsevery day.

The surprises of the jobI wasn’t expecting to find that workingin consulting has a lot in common withbeing an officer. Both careers are aboutpeople.

Best and worstThe travel... and the travel. I love beingable to continually discover new placesand meet new people – but I am awayfrom my husband and four-year-oldtwins much more than I would like to be.

A high point about this career is thefeeling of pride I get from seeing thesuccessful roll-out of a new productthanks to a plan that I helped todevelop, and the smile on a client’s faceas he or she realises that aninsurmountable problem is not sodifficult to conquer after all.

Tips for successThe interview process is as much foryou as for potential employers – don’tunderestimate the importance of the fitfor both you and them.

I love being able to continually discover new places and meet new people.

Melissa Jacob. MBA 07J.IAGE AND NATIONALITY 36. American/French.

BEFORE INSEAD Surface Warfare Officer, US Navy.

AFTER INSEAD AND CURRENTLY Strategy Consultant, Booz & Company, Paris, France.

From US naval officer tomanagement consultant

I found the mostimportant factor is thatyou believe what youare telling yourinterviewer about whyyou want to make thechange.


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Career change storyBefore INSEAD I was a financial servicesconsultant in South America. I lovedconsulting but was tired of the travelling –more than 250,000 miles and 350 nightsspent in hotels in one year. It was taking ahuge toll on my health and family life. Ontop of that, I was keen to enter industry,where I felt I would be better able to applymy expertise in marketing. I also wantedto gain some international experience, sogoing outside of Latin America wasanother goal. After INSEAD I came toAsia to work for Samsung. I am still in aconsulting role, but it is much lessdemanding in terms of travel.

The reality of the jobSamsung’s Global Strategy Group wascreated by the chairman of Samsung alittle more than ten years ago, whenSamsung was growing and starting tobecome a global company. It neededinternational blood to take care of itsinternational business, but also peopleable to understand how headquarters andespecially Koreans work. The programmethey designed brings people from the topten business schools to work on shortstrategic assignments.

After two years the idea is to move toline management and eventually end up inone of their international subsidiaries.With a broad range of client types andprojects, the work varies a lot. One day I might work at one of multiple Samsungfactories, another at our main office inthe heart of Seoul. Almost every projectincludes a business trip to one or more

countries to gather information, workwith a subsidiary or attend a meetingetc… Most of the projects are verystrategic. They start with a client asking aquestion, for example, ‘How do I enterthe Indian market?’ A lot of meetings,brainstorming sessions and interviewswith the stakeholders then happen in thefirst weeks and the later stages are spentcoming up with solutions and tangiblestrategies for our clients to implement.

The INSEAD influenceINSEAD taught me how to incorporatedifferent points of views into a solution,and how to manage a diverse group ofpeople with completely different culturalsystems and beliefs. It helped me a lot withthe soft skills needed to work in Asia.

The surprises of the jobI’ve been pleasantly surprised by howmany of the things from my previouswork and from INSEAD are easilytransferable, by how well INSEAD isregarded among business people aroundthe world, and by how INSEAD opensdoors for you – the network is extremelyhelpful.

But the reality of the job is not alwayswhat you expect. At first it was hard toswallow how many people look at freshMBAs as too eager and too pushy, andwhat a long path it is to becoming aCEO. At Accenture I was leading teamsof 15-plus people across differentcountries, and my time at INSEAD waschallenging and hectic. But life slowsdown afterwards.

Best and worstI get to learn from a variety of differentbusinesses with which Samsung is involved,and it’s great working in Asia with a lot ofbright people. However, being far awayfrom home hits you from time to time, nomatter how used to being away you are.

Future plansAs long as I feel I’m learning somethingand adding value to myself then I’m opento suggestions. In the mid-long term Iwould like to be responsible for the LatinAmerican region of a big conglomerate.

Tips for successBe clear about what you want and don’twant. I don’t mean having a specific goal– a broad one fits better, actually. If youwant to be a gold trader for GoldmanSachs working out of Germany yourchances are very slim. But if you knowyou want to work in finance in Europethen your chances increase.

Be flexible and ready to acceptchallenges. Your job after your MBAprobably won’t be your last job, so see itas a first stepping stone. Be patient –eventually things will fit into place.

INSEAD taught me how to incorporate different point of views into a solution.

Carlos Loewenstein. MBA 08D.IAGE AND NATIONALITY 30. Polish/Venezuelan.

BEFORE INSEAD Manager at Accenture.

AFTER INSEAD AND CURRENTLY Global Strategist at Samsung.

From consulting to strategy

At first it was hard toswallow how manypeople look at freshMBAs as too eager, andwhat a long path it is tobecoming a CEO.


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Career change storyMy background is mainly in finance andentrepreneurship. My career change cameabout because I wanted to manage abusiness in alternative sports, somethingI’m enthusiastic about and a sectoroffering attractive growth potential. As abanker I felt detached from the reality ofbusiness and economy – I was ‘MrFinance’ but didn’t have a clue how tosign a cheque – and the challenge ofdriving a start-up company through itsgrowth phase really appealed. I also seemyself as an investor in the long term, sosucceeding in running a business will giveme a more realistic approach to futureinvestments.

I knew from day one that I wouldhave to work hard and stay focused. I cold called, cold e-mailed, coldeverything… as you can imagine theINSEAD database is not full of extremesports contacts.

Paradoxically, I ended up getting intouch with Al Gosling, founder of theExtreme Channel, through his website.After discussing some of my ideas I moved from Singapore to the UK tospend a summer in Brighton working in abasement with a couple of kite surfers.They really knew what they were doingon the internet but had no clue aboutfinance, which is where I came in. By theend of the summer I had my deal: co-management of the business and agood chunk of the equity.

In the two years since then we’vefaced many challenges – from staffingissues to becoming victims of the typical

squeeze from the contracting bankingmarket – but all in all we’ve weatheredevery storm, attracted plenty ofinvestment and emerged as a successfulcompany with a strong competitive edge.

The reality of the jobAs Managing Director of a youngcompany I’ve tried my hand at nearlyeverything. I’m responsible for all theday-to-day aspects of the businessincluding managing a team of 10,developing strategic relationships withaffiliates and suppliers, dealing withcustomers, exploring new opportunitiesand managing the finances. However, alot of what I do is about motivatingpeople, taking quick decisions,negotiating deals, setting priorities andco-ordinating everything so that we keepon pushing in the right direction.

The INSEAD influenceINSEAD taught me that the world is verysmall and that what seems obvious to youcan be perceived very differently bysomeone from another background andculture. It was a fantastic experience thatopened infinite doors.

Having worked as a Citigroupinvestment banker during the best andworst times, such as the Argentineeconomic crisis, I’ve gained considerablebusiness experience, a strong stomach andthe ability to make measured decisions.The Latin art website I created during theinternet boom taught me I should neverdo something I’m not passionate about.Above all I learned that there are

opportunities everywhere, even more so inthe current tumultuous market.

The surprises of the jobIt all comes down to common sense.You’ll often come across something newbut give it time, use some familiar toolsand you’ll gain understanding. If this wasa recipe, mix common sense withanything and the result will always beedible. I’ve also had first-hand experienceof the classic: ‘it’s all about people’... it’sdefinitely true!

Best and worstThere are some horrible administrativedetails that I have to deal with, time andagain – invoices and customer service.The satisfaction I get from looking backand seeing how far we’ve come from thatbasement is great. I meet a lot of coolpeople and we have a ‘dress code’ thatwould raise eyebrows among my friendsin London. We personally test eachactivity we offer – from bungee jumpingand driving stock cars to skydiving andaerobatic flying – it’s the sacrifice I makefor the customer!

Tips for successIt is a pity that some of the talented MBAstudents at INSEAD, who genuinely wantto make a career change, can get caughtup by the attractiveness of short-term cashto the detriment of their ideas. Followyour instincts and give it a try. Life flies byand the important thing is to get up everymorning to do something you enjoy andyou are proud of; the rest will follow.

There are opportunities everywhere, even more so in the current tumultuous market.

Damian ‘Pipa’ Nogaro. MBA 07D.IAGE AND NATIONALITY 34. Argentinean.

BEFORE INSEAD Investment Banker, boutique investment bank.

AFTER INSEAD AND CURRENTLY Managing Director, Extreme Element Ltd.

From investment banker to MD of anextreme sports company


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Career change storyAs an attorney, my work involved closeattention to detail in applying corporateand securities law to capital markets andM&A transactions. While I enjoyed (andmiss) many aspects of being a lawyer, thelong hours and narrow scope wasn’t agood fit. I wanted to be involved in thebusiness decisions that preceded the legalwork I performed. Attending INSEADwas the first step in my career change as itgave me an identity transformation as anMBA (at least on paper). I left INSEADwith the goal of working in businessdevelopment in pharma/biotech where Iexpected to leverage my legal background.Informational interviews with BDprofessionals in the industry pointed tothe value of in-depth pharma/biotechindustry experience. I chose to acquire itthrough a traditional MBA entry point in‘big pharma’, where more developmentaland training opportunities exist. Myspecific break came through an INSEADalumnus at Merck who placed my CVwith the market research group that hadan opening. Since starting in marketresearch, I’ve rotated through a role inmarketing communications, and recentlyjoined the global strategic pricing group.

The reality of the jobI am responsible for global launch pricingstrategy for new products in diabetes andobesity.

A significant part of my job is tointerface early with clinical and marketingteams to ensure that product developmentdecisions driven by clinical needs also

take into account pricing considerationsand the needs of payers.

The INSEAD influenceINSEAD added an important dimension tomy ability to succeed in a largeorganisation. While my previous legalbackground equipped me with stronganalytical, verbal and writtencommunication skills, INSEAD taught meto be ‘flexible’ (relaxing your expectationsthat the world should rotate according toyour point of view), which has beenextremely useful in managing in cross-functional matrix environments where youneed to distil multiple viewpoints into areasof agreement and pinpoint areas ofdisagreement.

The surprises of the jobI’ve been amazed by how complicated thepharmaceutical/health care industry isworldwide. Also, in each of my roles todate, I’ve been surprised by how difficult itis to execute strategy successfully.

Best and worstThe best part of my current job is the globalexposure to pricing and reimbursementissues and the opportunity to shapenegotiations with payers. The less appealingaspects involve managing situations wherepricing expertise is assumed by other partsof the organisation. Everyone has anopinion about pricing for a product, andthere are occasions where a lot of energy hasto be spent to include other points of viewwithout conceding responsibility for thefinal pricing recommendation.

Future plansRelative to my former law firm peers, mydecision to get an MBA and start out atan entry-level MBA position set me backin some respects; however, my career hasaccelerated after my initial entry intomarket research and I’m now on a trackthat matches my personal goals better. I am still aiming to work in BD at Merckand my experiences to date in corporatelaw, market research, marketingcommunications and now pricing,position me well for such a transition.Separately, I would like to have greaterdecision-making authority in general –moving in the next two to three years to amuch smaller company, where decision-making involves less bureaucracy, is anoption I hope to explore.

Tips for successKeep an open mind about starting at theground level when making a careerchange. After a couple of years in anentry-level position, your career couldaccelerate quickly, leading to the samelevel of responsibility that you expectedon day one, or even much more.

Keep an open mind about starting at the ground level when making a career change.

John Parapatt. MBA 04J.IAGE AND NATIONALITY 36. American.

BEFORE INSEAD Attorney, Sullivan & Cromwell LLP.

AFTER INSEAD AND CURRENTLY Market Research, Merck & Co., Inc.

From corporate lawyer to pharmaceutical marketing

Attending INSEADwas the first step in my career change as it gave me an identitytranformation as anMBA.


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Career change storyBefore INSEAD I worked as an architect inthe UK for four years. I had entered theprofession because I wanted to createsomething that was tangible, but I wasgetting frustrated with the fact that about85 per cent of the projects never progressedbeyond the drawing board stage, and withthe less interesting technical and regulatoryside of the business.

I felt that working in marketing in theconsumer goods industry could provide mewith a creative environment, allowing meto develop ideas around tangible goodsand bring them to market quickly.

Winning an international marketingcompetition for Adidas with twoclassmates was an important stepping stoneon my way into marketing. It was tough tofit the work into our busy P2 schedule, butthe experience gave me some excitingmaterial to talk about in my interviews.Being offered an amazing internship at thedesign/innovation consultancy IDEO inLondon allowed me to develop some greatskills by creating two brands from scratchin very different industries.

I started interviewing with PepsiCo fora position in their marketing department inOctober. After three rounds of interviewsthey decided not to extend an offer to me.I felt that they were simply a bit unsurewhether I was the right person due to myunusual background so I offered to start asan intern. They accepted, and after threemonths I received a permanent offer.

The reality of the jobI am a brand manager leading one of the

three big projects that Doritos has in its2010 pipeline.

My day starts with a 45 minute trainjourney, which I use to plan my day andget some emails out of the way. At theoffice I head into a cross-departmentalteam meeting, where we discuss how theproject is progressing on the R&D, financeand marketing fronts. After a quick chatwith our VP to align him on a creativebrief for our advertising agency, I get somework done at my desk. During anafternoon meeting with our sales executionteam we think of how best to engage oursales staff and customers, the retailers.Back at my desk, I review the packagingdesigns from our US designers, in time forour conference call.

The INSEAD influenceThe principle of being the node ofinformation and the driver of a projectremains the same, whether you’re inarchitecture or marketing. INSEAD taughtme to speak the ‘languages’ of the differentfunctions within PepsiCo so that I can havea meaningful conversation with all parties,whether finance or operations.

My previous job also developed myvisual sensibility, which is proving to bevery useful in working with graphicdesigners on new packaging, and with thecreative agencies on advertising andpromotional material.

Best and worstI enjoy working in a fun and supportiveenvironment on exciting brands with somevery talented marketers. The company

likes challenging its employees, keepingeveryone’s job fresh, interesting andengaging. I have also been pleasantlysurprised by how approachable the seniorleadership of the company is.

On the down side, the large scale of thebusiness forces you to liaise with manydifferent parties before a decision can bemade, and my commute is 70km! LuckilyI can work from home once a week.

Future plansHaving had an international upbringing, I wouldn’t mind moving to anothercountry after another couple of years inthe UK. Once I have solidified myexperience in marketing, I could seemyself working in one of our otherfunctions for some time, maybe in sales,before heading into a generalmanagement position in the long-term.

Tips for successFollow your goal with confidence! On apractical level, I found it very helpful toread the key trade periodicals as they gaveme some good material to talk about inthe interviews, which is vital when youare a career changer and cannot pull outstories from your experience that relate tothe specific function on offer.

Networking with alumni in the city I wanted to live in post-INSEAD openedup some great doors as well. Finally, useevery minute at INSEAD to develop yourthinking and career plans: I had some ofthe most informative and inspiring chatsat INSEAD during the crazy parties anddinners.

I enjoy working in a fun and supportive environment on exciting brands.

Cordula Stach. MBA 08D.IAGE AND NATIONALITY 30. German.

BEFORE INSEAD Architect.

AFTER INSEAD AND CURRENTLY Brand Manager, Doritos (PepsiCo).

From architecture to brand management


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Career change storyI knew that I wanted a more customerfocused role and was interested in generalmanagement. Although I had enjoyed mycareer in manufacturing it seemed like agood time to try out a different industry. I was drawn to luxury brands, and thefood and beverages industry in particular,but I didn’t intentionally set out to workin retail – rather, I stumbled across it.

The reality of the jobMost of my time is spent in meetings andstore visits – usually with my team orvendors. Our stores and offices aren’t allbased in the same building, so I travelaround the city considerably. I work atthe airport, where we have most of ourstores and start work at 8.00 am on officedays so I can read my e-mails beforethings get busy. I often start work earlierthan that as I meet with the ManagingDirector at 7.30 am on Mondays to goover the business highlights and concernsfor the week ahead. Flexibility is a keyskill in the retail sector as it’s such a fast-paced environment. Bouncing ideas offother senior employees and makingdecisions is a substantial part of my role,so I have to be up to speed on

developments in the retail sector as awhole and the latest news for thecompany.

The INSEAD influenceThe valuation techniques I learned duringmy time at INSEAD can come in veryhandy, particularly when it comes tostore development projects, but the skillsfrom the course I use the most are relatedto team management. I had some generalmanagement experience from myprevious job and while it was in adrastically different industry, many of thesoft skills and, again, team managementskills, are transferable to my new role.

The surprises of the jobThe biggest surprise for me was learningabout the amount of detail that goes intomanaging a retail operation andmaximising profit. I wasn’t aware of theindividual sales classifications within astore or how important signage andpromotional displays are!

Best and worstI love working with desirable productsand brands and the perks that this entails– exclusive parties, product launches andcompany celebrations. The best and mostimportant part of my job, though, is myteam. I work with a group of high-energypeople who are all very driven to achieve.I find it very personally rewarding to beable to encourage and develop the growthof future talent within the company. Thedownside to working in retail is that therevenue is tracked in real-time, so I feel

the effects of economic downturns andstrong periods as they happen, on a day-to-day basis. My career highlight so farwas launching 17 retail outletssimultaneously when Changi AirportTerminal 3 opened in January 2008.

Future plansI am enjoying my general managementrole and feel at home in the retail sector,so I plan to continue to pursue my currentcareer path for the foreseeable future.

Tips for successDoing an MBA is a bit like starting fromscratch – summer internships and talkingto your school’s alumni are the best waysto find out what job you’ll be suited to.There is no set career path for MBAs butdon’t worry – make your passion andexperience stand out, and you’ll soon beprogressing at the rate you’d expect.

Exclusive parties, product launches, company celebrations... but the best part is my team.

Keith Tam. MBA 06J.IAGE AND NATIONALITY 32. Hong Kong/Canadian.

BEFORE INSEAD Assistant Factory Manager, Greenwood Industry.

AFTER INSEAD Group Sales Manager, DFS.

CURRENTLY General Manager, DFS Changi, Singapore.

From assistant manager in manufacturingto general retail management

I have to be up tospeed on developmentsin the retail sector as awhole and the latestnews for the company.

I start work early onoffice days – flexibilityis a key skill in theretail sector.

Keith preparing for a 7.30 am meeting.


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Career change storyI am an entrepreneur at heart: my storybefore INSEAD was to migrate fromconsulting and private equity to runningmy own business. However, I felt I neededmore corporate experience before I couldcontinue to build a large new ventureagain. I thought an MBA was a goodroute to achieve that. When I graduated, I took the job with Amex as anintroduction to the corporate world but,lacking entrepreneurial growthopportunities there, I left after a year towork with Bertelsmann. Although I hadreceived their job offer during my time atINSEAD, I delayed acceptance to ensure I was doing the right thing, but kept intouch with them throughout my post-INSEAD year. Meanwhile, my start-upbusiness survived the transition to a newset of managers, flourished, and we sold itin September 2008 in the biggest dotcomdeal in Hungary’s history.

The reality of the jobFor close to two years I have been part ofthe Bertelsmann EntrepreneursProgramme. My job description and thecountry I lived in have changedcontinuously, but what I essentially didwas to apply my entrepreneurial skills tonon-structured business situations. I firstworked on corporate strategy in Germanyand managed an investment case inChina, before transferring to RTL Groupabout a year ago to help set up a NewMedia Team. At the moment I am puttingtogether a corporate venturing schemewith a highly unusual spin.

The INSEAD influenceBefore INSEAD, I was good at usinghard skills and hands-on management insmall professional firms, but hadn’t beenexposed to a truly corporateenvironment or developed the softindirect-influencing skills required there.The Power and Politics course gave me anew perspective on what makes peopletick within such organisations and I gotthe chance to experience this first-handin the workplace after my MBA.

The surprises of the jobI work in a unique corporateenvironment as many of the processesyou usually find to be formalised in largeorganisations are not formalised here. Itseemed unusual at first but I quicklysettled in and now find theentrepreneurial culture reallymotivational. Personal attitude countshere – it’s up to you to plan your careerand create or take advantage ofopportunities. For instance, an idea I came up with regarding RTL Groupmay now turn into my new full time job.

Best and worstI love the variety of the work I do, butuprooting my family so often hasdefinitely had its disadvantages. In thepast three years we’ve lived in sevendifferent countries, in 21 differentproperties – sometimes we didn’t evenhave the chance to unpack properly. Wecelebrated my son’s first birthday inLondon, his second in Beijing and histhird in Luxembourg. We are now

settling down again as a family – andtrying to educate our son in only twolanguages!

The best part is that I get enormousjob satisfaction from what I do – it hasbeen amazing to work on a series of suchsignificant projects, and to experience somany different countries and cultures.

Future plansI see myself being a corporateentrepreneur for quite some time – I lovebuilding businesses and using myentrepreneurial skills mixed with theresources and opportunities that comefrom working for a large company. As along-term goal, I’d like to run my ownbusiness again, possibly within a largegroup.

Tips for successIt’s vitally important to understand whoyou really are and follow your heart whenit comes to choosing your careerdirection. Don’t give in to the socialpressure of what’s seen by others as anattractive career path when studying foryour MBA. If your heart is in your job,you can achieve anything and everythingyou want.

It’s up to you to plan your career and take advantage of the opportunities on offer.

Sabie Valner. MBA 06D.IAGE AND NATIONALITY 38. Hungarian.

BEFORE INSEAD Founder and CEO of Vatera.com.

AFTER INSEAD Senior Manager, Strategic Planning, American Express (Amex).

CURRENTLY Bertelsmann AG/RTL Group.

From entrepreneur to corporate entrepreneur

I am working in aunique corporateenvironment and find theentrepreneurial culturereally motivational.


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Typically, about six per cent of INSEAD MBAs launch aventure immediately after graduation, as illustrated by Walter

Faulstroh (page 26) who launched VWater in 2003. However, 80per cent of INSEAD MBAs participate in entrepreneurshipelectives and events, even though many have no intention ofstarting a company immediately after graduation. This is becauseentrepreneurship at INSEAD goes beyond starting a venture.Entrepreneurship at INSEAD is about building businesses in aglobal world.

Business building is the essence of entrepreneurship. It meansinnovating for value creation in a sustainable way. It oftenhappens through the launch of new organisations. But it canhappen inside an established company through corporateentrepreneurship or within a family group through renewal ofthe existing businesses as well. Or entrepreneurship can happenthrough the acquisition of an existing business and re-setting itsclock through an effective turnaround. In fact, INSEAD’s mostsuccessful entrepreneurs usually have not started a venture fromscratch but rather joined or acquired a small venture and helpedspearhead its growth. The entrepreneurship courses andresources at INSEAD provide exposure and insights into thesedifferent entrepreneurial processes.

We live in a global world and yet understanding local businesspractices is increasingly important. Entrepreneurial processes aredifferent in Silicon Valley, Israel, Continental Europe, China, Indiaand the Middle East. INSEAD is the only business school whereyou can understand the differences and inter-connections acrossworld regions. Through the diversity of the student body andfaculty, the cases discussed in class and the business building fieldtrips we offer (to the above locations), INSEAD graduates arereally able to understand the world and expand their world.

In summary, at INSEAD you learn how to build businesses in aglobal world. In addition to the 19 entrepreneurship electivesoffered by INSEAD, the Rudolf and Valeria Maag InternationalCentre for Entrepreneurship engages alumni and students in anentrepreneurial eco-system that accelerates entrepreneurship-oriented careers. INSEAD’s entrepreneurship offerings allow MBAparticipants and alumni to know themselves better, assess theirentrepreneurial orientation and create new career opportunities.Interestingly, many alumni who become entrepreneurs (about 50per cent of INSEAD alumni eventually do) did not have a clearintention of building a new business, but the right opportunitycame along unexpectedly. The same could happen to you, so youshould be ready for it: ‘Chance favours the prepared mind’.

Entrepreneurship @ INSEAD:building businesses in a globalworldMany people assume that entrepreneurship is about starting a company. FilipeSantos, Assistant Professor of Entrepreneurship and Director, Rudolf and ValeriaMaag International Centre for Entrepreneurship (Maag ICE), explains howentrepreneurship at INSEAD goes far beyond that.


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Defining entrepreneurshipFor me, entrepreneurship is more aboutthe spirit of how you work than aboutwhat you actually do. I think the maindifference is openness: to trying newthings; to doing all kinds of tasks (fromthe most exciting to the most ignoble);and to taking the risks necessary to helpyour company succeed. There is no roomfor ‘that’s not my job’ kind of thinkingwhen you’re an entrepreneur.

Why entrepreneurship?I chose to create my own companybecause no one else was offering theseservices in France, so there was no oneelse to work for. I saw a hole in themarket and thought I could fill it – it’s assimple as that.

My business entails...I run my own business, Terravina. It’s amarketing and strategy consultancy forthe wine industry and we have offices inParis and Hong Kong.

I’m responsible for everything fromoverseeing admin, to negotiating withclients and partners, to producing thework that we do on our consultingprojects. What my job doesn’t entailwould be a shorter answer, but my main

responsibility is to always be thinkingof the company – what we’re doing,where we’re going and where we wantto end up. My entrepreneurial skills areabsolutely necessary to succeed in whatI do – from multi-tasking to risk taking– that’s the joy, and pain, of creatingyour own company.

Top skills• Self-motivation• The ability to take risks• A sense of humour• Belief in what you do• The ability to create and motivate

teams• Curiosity and the desire to keep

learning and pushing yourself.

The INSEAD influenceINSEAD definitely gave me moreconfidence in the technical side ofbusiness and in my ability to run myown company.

The INSEAD network has also beeninvaluable – providing me withresources, mentoring and friendships inwhat can be a lonely business.

The global reach and scope ofINSEAD has made a big difference inour latest challenge – opening TerravinaAsia in Hong Kong during January2009. Not only do I have a load ofgreat contacts on the ground already(and my new associate is an INSEADpartner, too) but the constant emphasison a worldwide perspective in myclasses at INSEAD meant that I alwayshad this kind of expansion in mind.

The surprisesI’m always surprised at how much I enjoywhat I do. Entrepreneurship is also muchmore compatible with family life than I’dthought it would be, although maternityleave is non-existent!

Best and worstThe freedom to create your own path, the independence and the pride in seeingwhat you’ve created is unbeatable.

But there are downsides – it’ssometimes difficult to be constantlythinking about the company without a real break, and you don’t have thesecurity of knowing that someone will pay your salary at the end of eachmonth.

Advice to aspiring entrepreneursLove what you do and do what you love.Make sure you have a good supportnetwork to help you through themoments of doubt and difficulty.

Entrepreneurship is about the spirit of how you work.

Jaime Araujo. MBA 04J.IAGE AND NATIONALITY 38. American/British.

BEFORE INSEAD Projects Manager, Moet Hennessy Europe.

AFTER INSEAD AND CURRENTLY Managing Director/Founder, Terravina, Paris/Hong Kong.

Managing director

There’s no room for‘that’s not my job’ kind ofthinking when you’re anentrepreneur.

The global reach andscope of the INSEADnetwork has beeninvaluable – providing me with resources,mentoring andfriendships in what canbe a lonely business.


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Defining entrepreneurshipYou start with an idea and create abusiness. You have a dream, then fightwith potential suppliers and potentialcustomers to prove that your idea cansucceed and that they will make moneyout of it.

How I got startedA friend from high school wanted tocreate a nice food brand, an equivalent inFrance to Ben&Jerry’s, Odwalla,Nantucket Nectars or Innocent. I thoughtit was an amazing and really challengingproject. Right after graduation, I spent alot of time in the kitchen, trying to findthe right recipes for our first cookies.

My business entails...I’m in charge of operations, purchasingand finance. I work in a team with my co-founder Augustin. On a fortnightly basiswe review together the major issues I haveencountered and decisions I have made.Then we review his issues and decisionsregarding the commercial and marketingside.

I negotiate contracts with biscuit andyogurt suppliers, as well as logisticssuppliers: this means visiting most of thebiscuit plants in France, meetingmanagers and trying their products!Two people report directly to me: a CFOand the head of the sales force. Part ofour job is to make sure our products areavailable at the Carrefour market inAvon, for example, and can be easilyfound by all the INSEAD students whenthey do their grocery shopping. I also deal

with wholesalers selling to the impulsenetwork, such as the INSEAD bar!

Top skillsIf you want something, you just need togo and get it – as difficult as it may beand for as long as it takes. You needstamina, perseverance, endurance andconfidence in the success of the project.

The INSEAD influenceREP classes were great (thanks PatrickTurner), and meeting entrepreneurs whohad created companies before enteringINSEAD was a great confidence booster.The New Covent Garden Case certainlyhelped a lot!

The surprisesI really enjoy the variety of people I meetfor work on a daily basis: journalists,consumers, suppliers and investors. I alsoenjoy the variety of issues I might comeacross in the same week: negotiating withsuppliers, solving salary issues with theteam, calling the cops in the middle of thenight because the office is being visited byburglars, and so on...

Best and worstWe have great fun working as two friends– it helps to give an amazing atmosphereto Michel et Augustin. Each employeewho has joined the firm is someone I trust, respect and can have fun with. It was great posing half naked in theParisian subway for a Le Figarophotographer! It’s also exciting to dothings such as making sure Bill Gates

drinks our new liquid yogurt in front of afew thousand people at a pressconference!

The stress can skyrocket, however, andsometimes everything happens at thesame time. For example, three years agowe moved into new offices, raised €1Mof funds for further development anddelivered biscuits for the first time toMonoprix, all in the same week – with the same truck we had rented for movingout our furniture and boxes, I went withan intern to make our first delivery at5.00 am!

Advice to aspiring entrepreneurs?• Beware of your cash position. You will

hear people say this over and over.Remember to check both the bigpicture and the details. Both arenecessary, and it will prevent stressand/or losing a lot of your potentialfinancial upside!

• Beware of whom you choose asshareholders: you may keep them forlonger than you think. Do you trustthem? What are their hidden agendas?What are their decision processes? Howimportant are you for them? Can theyafford to lose all their money?

• Be very picky about your partners andfirst employees. At Michel et Augustin,we get along very well and have greatrespect for each other. This has provedreally helpful particularly in tough times,and there definitely have been some! Ithas proved awesome in successful timesas well – it’s so good to share good newswith people you care about.

We have great fun working as two friends.

Michel de Rovira. MBA 04D.IAGE AND NATIONALITY 33. French.

BEFORE INSEAD Junior Consultant at L.E.K. Consulting.

AFTER INSEAD AND CURRENTLY Co-Founder of Michel et Augustin.

Creating a top food and drinks brand – with two troublemakers and a cow!


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Defining entrepreneurshipIt’s the creative pursuit of opportunity.

Why entrepreneurship?To be perfectly honest I always wanted tobe an entrepreneur but was open post-INSEAD to other options. During therecruitment weeks it became crystal clearthat the only suitable career path for mewas entrepreneurship.

How I got startedSetting up a new venture is probably oneof the most exciting and nerve-rackingtasks. The V Water business I started afterINSEAD was a great success and awonderful learning experience. I amcurrently working on my second ventureand although I can now accelerate the set-up time, the challenges are still the same.I am putting all the main pieces intoplace, which requires making keydecisions about financing, marketing,operations, legal issues and people. I loveto think about all these aspects ofbusiness simultaneously.

My business entailsOn a day-to-day basis, setting up a newventure means that there are always new

problems to be solved and new people tobe met and inspired. The nerve-rackingbit is that the more you advance in thisprocess, the more surprising thechallenges get.

Top skillsSuccess comes down to maximising theresources you have and creating resourcesyou don’t have. I very much like ashoestring approach for start-ups, tounderstand the nuts and bolts of thebusiness. It is very easy to waste cash andtime if you don’t have a winning formula. You also need to be incredibly flexible inyour thinking and listen carefully to allyour stakeholders. This will allow you tocommunicate your vision to yourinvestors, employees and supplierseffectively and have the right propositionfor your customers and consumers.

There are endless articles on the skillsneeded for entrepreneurship and I don’tdisagree with any of them. However, theone thing I rarely see written about is thatit takes a certain attitude to succeed as anentrepreneur. This comes down to a mixof self-belief, passion and honesty. If youdon’t believe in yourself, how will aninvestor or employee ever follow yourlead? If you don’t have passion for yourventure, how can you have the energy tokeep going for at least five years? Andfinally if you are not honest about yourown abilities and the strengths andweaknesses of your business, how canyou ever address the real problems andbalance your team with the skillsnecessary to succeed?

The INSEAD influenceINSEAD played a major role in meeting myprofessional goal as an entrepreneur. I metmy business partner at INSEAD and theentire initial funding of the business camefrom alumni who had graduated a few yearsbefore me. The INSEAD alumni network isakin to a candy shop for entrepreneurs!

The surprisesI was absolutely amazed by the pace atwhich things progressed, from the originalidea of V Water, to having the first bottleson the shelves, to selling the business toPepsi. All I can say is: try to celebrate everylittle success along the way. This will makeyou and your team stronger to take on thechallenges that arise.

Best and worstWhen it all goes well, it’s the direct outcomeof your work. Sadly, this works both ways!

Advice to aspiring entrepreneursLife is not a rehearsal. If you are seriousabout becoming an entrepreneur, ignore thecareer choices of your peers and give it yourbest shot! I think it’s definitely best to starton the entrepreneurial track early so youdon’t get used to the comforts of acorporate career.

It takes a certain attitude to succeed as an entrepreneur.

Walter Faulstroh. MBA 2003.IAGE AND NATIONALITY 34. German/Austrian.

BEFORE INSEAD Director of Business Development at Perform.com.

AFTER INSEAD Joint MD and Founder of V Water.

CURRENTLY Having recently sold my first business to PepsiCo International, I am currently planning mynext venture. I am extremely excited about the idea although it is a bit too early to say any more...

Creating and selling a water drinks business

On a day-to-day basis,setting up a new venturemeans that there arealways new problems tobe solved.

INSEAD played amajor role in meetingmy professional goal as an entrepreneur.


IEntrepreneurship

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Defining entrepreneurshipEntrepreneurship is about identifying anunmet opportunity in the market andaddressing it profitably. It involvespersonal and financial risk, and youshould expect to boot-strap an entirebusiness operation with a handful ofpeople when you start out.

Why entrepreneurship?I believe entrepreneurs can really makea difference. I trained as a computerengineer and when I started my firstcompany, I realised my lack of businessknowledge hindered my decisions. I hadfun building our start-up to become oneof Europe’s largest e-commerce sites,but I thought it best to enrol at INSEADbefore I risked starting another venture.

How I got startedMy first business venture was a struggle– in the four years I spent with thecompany, I came close to bankruptcy onat least two occasions. The highs werevery high but the lows were very low,and I envied the venture capitalists atour board meetings. They seemed toexperience the fun side of working withstart-up companies without being keptawake at night worrying about them.

After INSEAD, I started a smallprivate investment company, but missedworking with a team of partners. I knewI wanted to invest in start-up businesses,and discussed the idea of the governmentmatching private funds with somebusiness angels I knew. We formed a

group to apply for this matching scheme,and BAF Spectrum was born.

My business entails...I work with my partners to identify thefuture winners among the hundreds ofstart-up companies we screen every year.For each company we take on, a partneris assigned the deal lead role, accordingto our interests. In a deal lead role, I pursue further investigation into thecompany and its market, and leadnegotiations with the founders. The due-diligence stage involves checking everyaspect of the potential portfolio company,from its legal structure to personalreference checks. If a deal is completed, I represent the fund on the board ofdirectors and co-operate closely with thefounders to grow their company.

Top skillsAs a seed investor or business angel, youare likely to play a diplomatic role sostrong people skills are essential and youneed to have relevant industry experienceto match your portfolio companies.

Entrepreneurial skills are important –you will need to recognise these in others,evaluate ideas and assist in securing thesuccess of start-ups. Having started myown businesses, I can more easily identifywith the founders.

The INSEAD influenceINSEAD helped me to develop thebusiness skills I lacked and gave me astrong foundation for making a wide

range of decisions. I have drawn a lot ofsupport for my latest venture from theinvaluable alumni network.

The surprisesThe most surprising thing is how fragile anew venture is. It’s a constant juggling actbetween the costly measures a growingbusiness needs, and the frugal spendingculture that gets a business to that stage.

Best and worstThe most difficult element is insecurity.Statistically, most entrepreneurs will failand be forced to return to corporate life.This makes it difficult to get the investorsand partners you need on board, and therejection can seem endless.

The best part of entrepreneurship iswinning a gradual battle against all theodds. Creating something out of nothing,waking up to find an article about yourcompany in the morning paper, andseeing large companies not being able tomatch the quality of your products andservices brings a lot of joy.

Advice to aspiring entrepreneursBeing a good entrepreneur is aboutchanging the world, and the last thingyou want to do is repeat the mistakes ofothers. So, in addition to researching youridea, make time to learn from the past.

It can be hard to find good-qualityadvice for aspiring entrepreneurs in thejungle of books out there, but have abrowse at your local library – I wouldrecommend Jim Collins, Stephen R. Coveyand Guy Kawasaki in particular.

It’s a constant juggling act between costly measures and frugal spending.

William Klippgen. 03J.IAGE AND NATIONALITY 40. Norwegian.

BEFORE INSEAD Co-Founder and CTO, Zoomit.com and Kelkoo.com.

AFTER INSEAD Senior Consultant, Gartner Consulting.

CURRENTLY Co-Founder and Partner, BAF Spectrum.

Investing in fellow entrepreneurs


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Defining entrepreneurshipEntrepreneurship is taking the risk tomake your vision a reality. It’s aboutcommunicating it in such a way that yourdrive to succeed becomes contagious.

Why entrepreneurship?In my previous job I identified an area ofopportunity in which I could bridge animportant gap in the services available tothe big players in developing markets. I first tried a business partnership withanother MBA graduate. At the time I believed my ability to sell would lead methrough anything, yet this was not thecase. Regrettably, it didn’t work out, butthe experience led me to my nextentrepreneurial project, World StreamPartners (WSP-Ltd), and taught me theimportance of trusting my partners.

How I got startedAt the beginning I was operating fromhome with one employee, paying half ofhis wages by giving him board andlodgings. We have expanded into a teamof 12 from five nationalities and workingin three continents. Setting up my owncompany required me to find the righttalent and determination in people,employing those who were dynamicenough to make things happen andcollaborating with those who couldcomplement the needs of the business.

My business entails...My company is an extension of theprocurement department for companies inconstruction and beverage FMCGs

operations in Eastern Europe and LatinAmerica. We offer local negotiations,project management and productionquality control – all key ingredients torealising the savings that China, Indiaand Brazil can offer. Our vision of‘connecting channels’ has led to usimproving our clients’ and our ownmarket visibility. We constantly lookahead and only buy what sells.

Top skills• Sales ability – identifying a potential

client, presenting the idea to them andtackling their corporate decision-making process to close the deal.

• Thinking creatively – consideralternative approaches to achieve thebest outcome and minimise businessrisks.

• Cost-effectiveness – always questionwhether costs are necessary.

• Good management – make sure youcommunicate with and support yourteam while avoiding micromanagement.

• Embodying your vision – it’s vital to becommitted to your goals and to fosterconfidence in your staff and clients.

The INSEAD influenceINSEAD was to me what MI6 was toAustin Powers: it transformed me into atruly ‘International Man of Business’. Mycompany required a global reach and inevery country I visited I met withINSEAD alumni willing to give advice,introduce me to their contacts and, inthree cases, join my entrepreneurialefforts as local partners.

The surprisesOne surprise was seeing howentrepreneurial ideas and drive caninspire others to work towards buildingyour vision. I wasn’t expecting toencounter such levels of solidarity in theentrepreneurial community – peoplearen’t afraid to share their experiences ofthe ups and downs. Being based in Chinaperhaps makes this more striking due tothe difficult market and the sense thateveryone is in it together. Last year’s crisishas led to a higher willingness to poolskills in order to seize the increasinglyscarce flow of international trade.

Best and worstThe best moments are when youovercome the ‘leap of faith’ and trustissues that lead to your first clients and allthe pieces falling into place. It takes hardwork to close the first deal that will keepyour fledgling company afloat, andfurther discipline to keep costs in check.Whenever you encounter negative cashflow, rational decisions must be made toensure the company’s survival – failing todo so can transform a common flu into afatal pneumonia.

Advice to aspiring entrepreneursSave money no matter what. Make sureyou cover the basics: find out if peoplewill buy what you have to sell andcarefully consider the other commitmentsof your business partners. Look at theworst case scenario in any situation andyou’ll soon realise you can overcome anysetback, no matter how big.

It takes hard work to close the first deal that will keep your fledgling company afloat.

Ruben Sanchez Souza. MBA 05J.IAGE AND NATIONALITY 30. Brazilian/Mexican/Canadian.

BEFORE INSEAD Business Development Director for Brazil, Inffinix Software – Credit Collections.

AFTER INSEAD Country Manager for China, Grupo Modelo.

CURRENTLY General Manager, Founder and Partner of World Stream Partners (WSP-Ltd), China.

Bridging the gap between large manufacturers and developing markets


ISocial impact careers

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Founded in 2007, the cutting-edge INSEAD Social InnovationCentre (ISIC) brings together a diverse group of leading

INSEAD research teams focused on the innovation of businessmodels and market-based mechanisms that deliver sustainableeconomic, environmental and social prosperity. The Centre hasbecome a nexus of learning and real innovation for the INSEADcommunity with its cross-disciplinary research not onlydisseminated in the classroom, but also forming a basis forcollaboration with alumni, companies, NGOs and otherorganisations to deliver real impact.

Social impact coursesToday, a portfolio of social impact courses is offered in the MBAprogramme, including subjects such as Economics &Management in Developing Countries, EnvironmentalManagement in a Global Economy, and Managing BusinessEthics & Corporate Responsibility. Students also haveopportunities to do innovative, hands-on field courses in socialventures and international development, the latter of which hasbeen recognised in the press (for example, the Wall StreetJournal). An executive education course in SocialEntrepreneurship (ISEP) also runs annually in bothFontainebleau and Singapore. The addition of these courseshelps INSEAD realise its mission to develop responsible,thoughtful leaders and entrepreneurs who create value for theirorganisations and their communities.

Student clubs and organisations A number of MBA clubs also support social responsibility.Founded in 1993, INDEVOR – the INSEAD MBA studentorganisation for social impact – is now one of the largest andmost active clubs on campus. It focuses on deliveringinformation, career options and networking opportunities tostudents interested in topics such as sustainability, corporatesocial responsibility, international development and socialentrepreneurship. Also in the category is the INSEAD Energy

Club, founded in 2006 to facilitate collaboration amongstudents, alumni, faculty and industry in order to address climatechange. Finally there is the Africa Club, which works with theINSEAD African Initiative to integrate the coverage of Africancountries and businesses into the INSEAD curriculum throughthe development of case studies by faculty and doctoral students.

In the following profiles, you can read about alumni whoare applying their MBA skills in making a real impact anddemonstrating that business can be a positive force forgood. We hope the above-referenced resources will assistother members of the INSEAD community in achievingsimilar goals.

Social impact careers – newopportunities for MBAsThe divide between the public and private sectors is diminishing; businessesare now searching for innovative ways to create positive social andenvironmental impact alongside financial gain. As a result there are several newsocially responsible career paths emerging for graduating MBAs. ChristineDriscoll, the Associate Director of INSEAD’s Social Entrepreneurship Initiativeand Social Innovation Centre, highlights the wealth of resources INSEAD hasbuilt up to help students and alumni navigate and participate in this newlandscape of socially responsible business.

For more information • INSEAD Social Innovation Centre:

www.insead.edu/facultyresearch/centres/isic• ISEP: http://executive.education.insead.edu/social-

entrepreneurship• INDEVOR: www.insead.edu/mba/clubs/indevor• INSEAD Energy Club: www.insead.edu/mba/clubs/energyclub• INSEAD Africa Club: www.insead.edu/mba/clubs/african


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Why a foundation?I believe in the values and vision of thisfoundation, and chose to apply for thejob because I wanted to be a part ofhelping use their resources moreeffectively for the world’s poor. Thefoundation believes that all lives – nomatter where they are being led – haveequal value. Its goal is that every persongets the opportunity to live a healthy andproductive life. For me, taking this jobwas more about continuing my careerthan specifically setting out to find a socially responsible employer.

The job in focusI work with the foundation’s partners inthe development and businesscommunities to help poor people gainaccess to savings and other financialservices – a safe place to save can help the

poor increase their financial security. Inparticular, I identify potentialopportunities to increase financial accessfor the poor, develop grants andprogramme-related investments, andwork with partners on effectiveimplementation.

Key skillsThe job requires solid analysis, soundjudgement and strong writing skills.Because of the nature and extent ofpotential partners, it is also important tomanage relationships well anddiplomatically. Given the amount of travel,it is also useful to have a strong immunesystem and handle jet-lag well. Priorexperience in developing countries withfinancial services for poor people helpsbring perspective and expertise to the job.

Important INSEAD lessonsThe Bank Management course was themost relevant course because it helped meto understand banking regulations andvaluations for retail operations. Theconcept from the finance courses of valuecreation has guided my decision-makingin this job even though I work withphilanthropic capital. INSEAD’sleadership in Corporate Social Innovationhas also been helpful and consistent withthe concept of ‘creative capitalism’.

The highs and lowsI love my job because I believe in what I do, work with great people and have theresources I need to be successful. I feel myeducation and career to date have

prepared me well for the challenges ofthis job. While I enjoy travelling aroundthe world, I don’t like spending so muchtime away from my family. I can also befrustrated by the bureaucratic hoopsrequired to make and manage grants.

Top tips and philosophiesINSEAD is an experience to be takenadvantage of – use its resources wisely toplan your future career. Even if youcontinue down the same career path asbefore your MBA, as I did, the INSEADalumni network and the Careers Serviceswill be invaluable.

If you are considering a career changeto the social sector, make sure you knowwhy you want to do it. It’s encouragingthat there are so many people consideringworking for a foundation, charity orNGO, but it makes it all the moredifficult to get a job if you do not have a relevant background. Rather thanapplying for all the social sector jobs yousee, think about how your expertise canbenefit a particular organisation and beprepared to accept lower earningpotential than you’re used to.

After INSEAD, my family and I had a tough decision to make between jobs inNairobi, Geneva and Seattle and we areconfident that we made the right decision.I’d advise you to make sure you involveyour partner and children and otherpersonal interests in the selection process.My career decisions have been driven bymy desire to enjoy my job, believe in mywork and make sure I always have timefor my family.

All lives – no matter where they are being led – have equal value.

Tamara Cook. MBA 07D.IAGE AND NATIONALITY 33. American.

BEFORE INSEAD Microfinance Analyst, Consultative Group to Assist the Poor, World Bank.

AFTER INSEAD AND CURRENTLY Programme Officer, Financial Service for the Poor, Bill & Melinda Gates Foundation.

Providing financial services for the poor

Every person getsthe opportunity to live a healthy andproductive life.

Tamara with a Susu Collector, Ghana,on his daily walk around the marketcollecting savings.



www.insead.edu

Why an NGO?Boston Consulting Group has alongstanding relationship with Save theChildren which includes pro bonoprojects and a range of secondments.After four years at BCG, I was keen totake time out to do something different,and was investigating volunteeringoptions. The opportunity to work onsecondment within an NGO was a betteropportunity to leverage my skills directlythrough working in the developmentsector.

The job in focusIn my role I support a process called‘Unified Presence’, by which we arecombining the operations of our differentnational organisations in developingcountries to make them more efficientand more effective at delivering forchildren.

When I’m based in a developingcountry, a typical day will be spent largelyin the country’s head office, which isusually relatively small as the majority ofemployees are based in the field. Thework includes project management;analytical and ‘desk work’; preparing anddelivering presentations, and plenty ofmeetings with colleagues, lawyers andother external parties. I spend a largeamount of my time working directly withthe country director, acting as an adviserand ensuring that they are fully engaged. At least once during my work with aparticular country I will get out to visitone of our programmes in the field. Arecent trip in Colombia included a visit to

a school where displaced children aregiven accelerated education to enablethem to catch up with and fit back intothe national education system, as well asa meeting with parents and local officialstalking about what they are doing toprevent child abuse in their town.

Key skillsMost of the skills I use in my job aresimilar to those used in consulting or in atypical management role. There is a needfor basic analytical, planning andmanagement skills, but also a lot ofcommunication skills. Designing newstrategies, structures and plans is oftenthe easy part. Communicating them topeople in the field across a large numberof countries is much harder. Listening isalso a critical skill. In the NGO sector,objectives are typically less clear than inthe corporate sector, and so an open mindand a willingness to listen to differentviewpoints are essential.

While they may not have a profitmotive, NGOs are still largeorganisations facing many of the samechallenges as corporates.

Important INSEAD lessonsBeing comfortable working with peoplefrom different cultures and backgroundsis critical. In an NGO, particularly whenworking in the field, you need to be veryflexible to different working and socialcultures. Also, having the internationalnetwork is useful – it’s great to be able to meet up with an INSEAD friend fordinner in Bogotá.

The highs and lowsWorking in the development sector for ayear instead of consulting has given methe opportunity to have an impact whichis more than just delivering greater profitsfor clients. The job has also been hugelyvaried in terms of experiences; fromwriting board papers on the five-yearstrategy, to visiting a health centre in adeprived district of Manila.

Visiting the field can be depressing andshocking, but is almost always humbling,inspiring and uplifting. My most terrifyingmoments have generally involved brusheswith immigration, security and policeforces. Being stopped at a Colombianpolice checkpoint and asked for a bribewas a good test of my level 3 Spanish!

Top tips and philosophiesWhen I was back on campus earlier in theyear, students were asking what theycould do with their time if they couldn’tfind a job straight away. My advice was,if possible, to look for opportunities to dosomething constructive even if it’s unpaid.This might mean working with aworthwhile cause, or taking on someother form of challenge. You willinevitably learn skills which will provevaluable, and you will have an interestingstory to tell at future job interviews. Trynot to compromise where you want to getto in the medium-long term for the sakeof finding a job quickly in the short term.My philosophy has been to enjoy whatI’m doing, and to make sure I’m workingwith people I get on well with. The restwill often take care of itself.

NGOs are large organisations facing many of the same challenges as corporates.

Nick Grant. MBA 04D.IAGE AND NATIONALITY 33. British.

BEFORE INSEAD Consulting, Braxton Associates.

AFTER INSEAD AND CURRENTLY International Change Manager, Save the Children Alliance Secretariat(seconded from BCG).

Working for the rights of children



www.insead.edu

Why an NGO?I had been following the Kiva story for awhile, and when they finally decided to hiresomeone in a finance role I jumped at theopportunity. At the time I hadn’t made aconscious decision to work for a non-profit.I was extremely passionate about Kiva’smission and loved that the organisation hadthe mentality and drive of a technologystart-up.

The job in focusKiva is the world’s first person-to-personmicro-lending website, empowering peopleto lend to entrepreneurs, primarily in thedeveloping world. Our mission is toconnect people to lending for the sake ofalleviating poverty. As CFO, I oversee ourfinances and operations.

Kiva is both an internet start-up and anon-profit, which means that every day ischaotic, unstructured, and rewarding. We areconstantly coming up against unexpectedsituations and challenges that need to bedealt with quickly, which means a lot of ‘firedrills’ and a steep learning curve.

Key skills• Finance skills – for obvious reasons.• The ability to work in ambiguous

situations – we are breaking new groundevery day.

• Resourcefulness – this is a huge asset fornon-profits because resources are alwaystight.

Important INSEAD lessonsI gained from INSEAD an appreciation ofdifferent cultures and how they can affect

people’s perspectives on different issues. Ilived in a house with seven other peoplefrom completely different countries – ourdinners together were lively, entertaining,and extremely eye-opening.

I am now in charge of human resourcesat Kiva, an area which was not stronglydeveloped during my time working as aninvestment banker, so the OrganisationalBehaviour class has been a great asset tome. I learned a lot about entrepreneurialismand business planning, both through classesas well as fellow students. It is contagious tobe around others who run their ownbusinesses or who are starting their ownbusinesses. It makes you realise that there isno reason you can’t go out on your ownand do it too.

The highs and lowsI dislike the days where I get caught up inprocesses and lose sight of the biggerpicture. I love being a part of building Kivaand crafting the direction in which it willgrow. I also love seeing and hearing aboutthe impact we have around the world. Thebiggest surprise I had was how moved Iwas by lenders’ engagement in Kiva. I hadexpected to be motivated by our borrowersand their stories, but I was very takenaback by the impact we also have onlenders by empowering them to make a

real difference.The best parts of my day are when I

hear stories from our microfinancepartners, entrepreneurs or lenders and putthe work that I do into the context of alarger picture.

Everyone here is encouraged to visitone of our microfinance partners in thefield to see first hand the impact of theirwork. Last year I visited Nicaragua andmet with three of our partners as well asseveral of our borrowers. It was a greatlearning experience for me to meet withthe management teams of thesemicrofinance institutions, understand thechallenges they face and learn what wecan do to help them overcome thesechallenges. It was extremely rewarding tomeet our borrowers and see how they puttheir loan funds to work to provide anincome for their families.

Top tips and philosophiesWhile at INSEAD, take advantage of allthat it has to offer. Get to know yourfellow students and listen to their storiesand perspectives. Take some classes thatseem completely abstract and unrelated toyour journey, because you never knowhow they might change your path.Enjoy the time off from the ‘real world’and explore all the subjects you never hadtime to learn about while you wereworking. And never swim in the Loingafter a dinner party!

Reminding myself that a lot of thingsin life will be out of my control, so thereis no point in sweating them, has certainlyhelped.

Every day is chaotic, unstructured, and rewarding.

Jen Hamilton. MBA 04D.IAGE AND NATIONALITY 33. Canadian.

BEFORE INSEAD Investment Banker.

AFTER INSEAD Founder, On The Road Travel.

CURRENTLY CFO, Kiva.org, USA.

CFO for a non-profit micro-lending organisation

While at INSEAD, takeadvantage of all that ithas to offer.



www.insead.edu

Why a not-for-profit?After INSEAD I set up the USoperations of Starfish, an organisationthat assists orphaned and vulnerablechildren in South Africa and saw first-hand the difficulty of making adifference in a chronically resource-constrained sector.

After a year on the fundraising side, I was keen to address the challenge ofcreating sustainable models for socialchange. I was accepted as an LGTVenture Philanthropy Fellow (LGTVPoffer training, mentorship and financialsupport to mid-career professionalsproviding business expertise to socialenterprises) and began working formothers2mothers as a businessdevelopment strategist.

The job in focusmothers2mothers (m2m) is a greatexample of a ‘social enterprise’ – anorganisation applying business principlesin the public health sector, specifically bytraining HIV+ mothers as mentors toincrease uptake of treatment and preventmother-to-child transmission of HIV.The organisation is now operating innearly 600 clinics in 7 countries, hiringmore than 1,500 HIV+ mothers as peereducation leaders who empower othersto protect their babies.

I’m finding that my days are notdissimilar from my previous consultingcareer. The major difference is thatinstead of saving a corporation cents onthe dollar, I’m trying to increase thenumber of women who are able to

access life-saving care. Spreadsheetmodels become infinitely more interestingwhen applied in that context!

I work closely with the managementteam to implement the strategic plan,building models to deliver services in newlocations, performing analyses tounderstand m2m’s impact and cost-effectiveness, and ensuring that we aremeeting funding requirements. I’m alsohelping to streamline support functions,such as budgeting, planning andforecasting, so that resources go further.

Key skillsThere are the same organisational issuesyou find in for-profit companies but oftencoupled with severe resource constraints.This means that you will often be calledupon to ‘wear many hats’ and stretchyour skills and comfort zone. You willalso need to be able to tolerate a less-defined career path.

Business acumen is also key. I haveapplied my background in hospitality todeveloping a franchise model for quickerprovision of m2m services. I have alsoused my INSEAD-acquired skills inaccounting and finance to assist m2m intheir financial reporting processes.

Important INSEAD lessons• Cash is king. So clichéd, so true. You

can’t keep an organisation runningwithout it.

• Teamwork is key. The INSEADexperience taught me the challengesand benefits of working within diverseteams.

• Humility is essential. My role models arethose leaders who recognise their talentsand failings equally.

The highs and lowsI get the chance to speak and interact witha great variety of individuals – doctors,corporate executives, community leaders –each with a unique way of looking at theworld. That said, it’s impossible to ‘turnoff’ work when it is meaningful in both aprofessional and a personal capacity,making it tough to find a work/lifebalance.

The most inspiring part of this job isbeing able to visit the sites where HIV+mothers are educating pregnant women totake control of their health and that oftheir babies. I recently visited sites in SouthAfrica, Malawi and Kenya: seeing andrealising how many woman and babieswill be affected – nearly 20,000 annuallyin Malawi alone – was proof to me of howimportant this work is.

Top tips and philosophiesTry creating your own job: the social sectoris rife with opportunities for professionalswith the ability to solve problems in aneffective and cost-efficient way.

The challenge of MBAs is to apply ourskills from the world of business toorganisations that are making the world amore equitable place. There is a wholegeneration of not-for-profit and non-governmental organisations – at thecutting edge of social change – who areactively building their models on businessprinciples.

The challenge of MBAs is to apply our business skills to social enterprises.

Cynthia Schweer. MBA 07J.IAGE AND NATIONALITY 32, American.

BEFORE INSEAD Director of Procurement Services, Starwood Hotels Worldwide, Inc.

AFTER INSEAD CEO USA, Starfish Greathearts Foundation, New York, USA.

CURRENTLY LGT Venture Philanthropy Fellow and Business Development Strategist, mothers2mothers,Cape Town, South Africa.

Business development strategist



www.insead.edu

Why a social enterprise?While I enjoyed working in sell-sideresearch, I wanted to move into a careerthat focused on economic and socialreturns. Symbiotics is a for-profitcompany, but the social impact of ourwork does not take a back seat tofinancial gain. I knew that I wanted to getinvolved with a microfinance investmentfirm following INSEAD, so from themoment I arrived on campus, I pursuedthis objective. I joined INDEVOR, spoketo professors whose research was relatedto microfinance (even if they hadn’ttaught me), attended conferences andnetworked both in and outside of theINSEAD community. I met Symbiotics’Executive Director at a microfinanceinvestment conference in Paris just weeksafter school started and the company’svision seemed in line with mine. I volunteered to do a research project andworked with them for the better part of ayear, which culminated in me conductingthe feasibility study for Symbiotics’ Asiaoffice in P5 and a job offer on the last dayof classes!

The job in focusSymbiotics is a Swiss company working ininvestment intermediation services formicrofinance institutions (MFIs). Asbrokers, we act as a bridge betweeninvestment funds and MFIs and look forinnovative ways of funding themicrofinance industry. I started ourSingapore office in April 2009. I amtasked with growing our portfolio here

and also with maintaining our existingMFI investment relationships.A typical day involves speaking withinvestee MFIs, writing investmentreports, and investment prospecting.

When I’m not travelling andconducting an on-site due diligence at anMFI, I’m interviewing management andconducting site visits at branches andwith clients. Also, a big chunk of mytravel involves attending microfinanceconferences, which is part of ourmarketing efforts.

Key skillsThe job requires strong financial analysisand writing skills, as well as goodrelationship management abilities. Also,the ability to be adaptable when indifferent countries and working withdifferent institutions is important. At thesame time, being able to maintain thehigh quality and transparent standards ofanalysis and applying such criteria in allmarkets are crucial. In a company whereyou and any number of your colleaguesare travelling at a given time, it can bedifficult to communicate, so staying ontop of things and being persistent helps. I call on what I learned at Wachovia allthe time – that job gave me a strongfinancial analysis foundation.

Important INSEAD lessonsINSEAD was my first experience workingwith such a diverse group of people andhelped me realise that I should not justlook at things through my cultural lens.

The highs and lowsWhen I have the opportunity to do fieldvisits and meet micro-borrowers it isfantastic. A recent highlight was sitting ina yurt in Mongolia with a herdsman – amicro-borrower – and his sister, drinkingAirag (fermented mare’s milk)! Each fieldvisit is a reminder of why I switched jobs.As I am the only person in our Singaporeoffice, I have a lot of administrative work,which sometimes distracts me from myinvestment analyst role. However, I feelI’m learning new, valuable things aboutaspects of operating a business.

Top tips and philosophiesIf you’re trying to make a switch to acareer that is deemed ‘non-traditional’ ata business school, go out of your way togain knowledge and experience. Go toconferences, speak to professors, studentsand alumni, join clubs, do an internshipor project for a relevant organisation evenif they don’t pay you much or anything atall. I definitely attribute getting my job totiming and having developed arelationship with Symbiotics from early inP1 to the moment I got the job offer onthe last day of classes – for smallerorganisations that do not hire regularlythe key is to find ways to work with theminformally and to come to mind whenthey are looking to hire.

Have goals but be flexible and open tounexpected opportunities. No job isperfect, so being open to options you maynot have considered will definitely workin your favour.

The social impact of our work does not take a back seat to financial gain.

Rajitha Vinnakota. MBA 08D.IAGE AND NATIONALITY 29. American.

BEFORE INSEAD High Yield Research Associate, Wachovia Capital

AFTER INSEAD AND CURRENTLY Investment Analyst – Asia, Symbiotics (Singapore) Pte Ltd, Singapore.

Finding ways to fund microfinance institutions



www.insead.edu

Why UNICEF? Pre-INSEAD I’d been a volunteer for asudden-onset disaster response NGO(MapAction) for several years. The workwas excellent and motivated me tobecome a full-time humanitarian.UNICEF came to campus as part of ajoint Careers Services/INDEVOR eventduring P3, and soon afterwards launchedits New and Emerging Talent Initiative(NETI) to attract external professionals.NETI participants have a one-yearappointment that starts with an inductioncourse at the New York headquarters,followed by a two-month assignment in aheadquarters’ division. They are thenassigned a duty station in any ofUNICEF’s seven regions for the remainingten months. I started within the BusinessContinuity Unit in NY HQ and moved toAmman, Jordan in July with my wife andone-year-old son, to work with theregional emergency team.

The ‘triple f crisis’ (financial, food andfuel) is affecting the world's mostvulnerable groups, in particular childrenand women. MBA skills are required todesign integrated programmes to addressthe vulnerabilities exacerbated by suchcrises – and to find our way out of them!

The job in focusMy days comprise a healthy mix ofplanned activities and reactive fire-fighting. Today I was at the office at 8.00am, compiling a monthly ‘regionalemergency overview’ document for themanagement team. That was followed bya 30-minute phone call with my personal

coach (organised by UNICEF) inAustralia. Mid-morning, I gave apresentation on information managementin emergencies to delegates at a regionalmeeting on child survival. Over lunch I reviewed fundraising documents ourteam has developed to gain funding for aseries of innovative projects for 2010-11.This afternoon I worked on Djibouti’sEmergency Preparedness and ResponsePlan and then had a teleconference withsupply division colleagues in Copenhagento discuss a project for sub-regional pre-positioning of emergency supplies. I amwriting this as I wait for a flight toBrindisi to participate in a week-longinter-agency emergency simulationexercise.

Key skillsThe skills an MBA can bring to this jobare considerable – not only the pure hardskills of finance and accounting but alsothe softer skills of influencing andnegotiation are essential, both toadvocate for the rights of women andchildren and, personally, to survive andthrive within the UN system.

Important INSEAD lessonsFrom INSEAD I learned the value ofcreative abrasion – I was so fortunate tobe surrounded in my P1 and P2 studygroup by a top bunch – an effective groupexploits its members’ distinctivestrengths. Friends advised me that theNegotiation Dynamics was a ‘must’. Itwas excellent – I have an awful pokerface, am prone to blushing (even when

telling the truth) and find it hard to hidemy enthusiasm. INSEAD also gave me mystudy-buddy, Joe. To succeed, it is best to‘train’ with the people who will push youthe hardest – I’m confident we’ll be matesfor life!

The highs and lowsI love the people, opportunities andvariety associated with my job butmaintaining some sort of work-lifebalance is a challenge. Surprises so far: atleast one friend thinks I’m sellingChristmas cards, Barcelona FC paysUNICEF to have the logo on its shirts andby far the most shocking: one child diesevery three seconds, mainly frompreventable causes.

One of the most exciting experiencesso far in my job was deploying last monthas emergency surge capacity to the Saadacrisis in northern Yemen. I am also veryexcited about meeting Mia Farrow – oneof UNICEF’s goodwill ambassadors –next week prior to her visit to Palestine.

Top tips and philosophiesEnjoy every day because an MBA goes sofast! Don’t try to do everything – it’ssometimes better to do less and getmaximum benefit.

If you want to work for aninternational organisation, applystraightaway as the recruitment processcan be long. Use an e-mail address andphone number that will be valid for years– they may contact you when similaropportunities come up in severalmonths/years time.

My days comprise a healthy mix of planned activities and reactive fire-fighting.

Toby Wicks. MBA 08D.IAGE AND NATIONALITY 34. British.

BEFORE INSEAD European Engagement Manager, EuroGeographics.

AFTER INSEAD AND CURRENTLY Emergency Specialist based at UNICEF’s Regional Office for the MiddleEast and North Africa, Amman, Jordan.

Emergency specialist, Middle East and North Africa


Consulting vital statisticsI

www.insead.edu

Facts and figures• A fast-track MBA graduate can make it

to partner in six to seven years.• 42 per cent of 2008 INSEAD graduates

went into management consulting.• 56 per cent of 2008 INSEAD graduates

who chose a career in consulting foundtheir job through INSEAD CareerServices.

• The median salary of 2008 INSEADgraduates who went into consulting was€83,500, with a median sign-on bonusof €15,000.

• Salaries and sign-on bonuses remainedfairly stable, but there was a significantincrease in Africa/Near/Middle East aswell as Asia Pacific.

Top consulting employers of 2008 INSEADgraduates1. McKinsey & Company (97 hires)2. The Boston Consulting Group (51)3. Booz & Company (39)4. Bain & Company (21)5. A.T. Kearney (13)6. Accenture (6)7. Roland Berger Strategy Consultants (6)8. Oliver Wyman (5)9. Deloitte Consulting (4)10. Monitor Group (4)11. Opera Solutions (4)12. PricewaterhouseCoopers (3)Source: INSEAD MBA Graduates 2008

The Management Consultancies AssociationManagement Awards 2009• Platinum award winner: Deloitte• Best small firm: Propaganda• Best private sector project: KPMG• Best public sector project: Atos Consulting• Operational performance in the private sector:

Trinity Horne• Operational performance in the public sector: Atos

Consulting• Change management in the public sector: Hay

Group• Business strategy: Navigant Consulting• International: CSC• Technology: Arup• Innovation: Digital Public• Outsourcing consultancy: Deloitte• Human resources: DeloitteSource: www.mca.org.uk

The Vault.com 2010 top ten most prestigiousmanagement and strategy consulting firms1. McKinsey & Company2. The Boston Consulting Group, Inc.3. Bain & Company4. Booz & Company5. Deloitte Consulting LLP6. Monitor Group7. PricewaterhouseCoopers LLP (Consulting Practice)8. Mercer LLC9. Ernst & Young LLP (Consulting Practice)10. Oliver Wyman Source: www.vault.com (note that this has a US bias). The list isbased on surveys completed by practising consultants, who werenot allowed to vote for their own firms.

Please note that we went to press in January 2010. For more up-to-date statistics, please check the websites and publications concerned.

Accenture was named the most popular graduate recruiter in consulting at the TARGETjobs National Graduate Recruitment Awards 2009. See targetjobsawards.co.uk for further details.

League tables

Consulting


IConsulting employers

www.insead.edu

Jennifer Pierce AccentureMBA Recruitment Manager30 Fenchurch StreetLondon EC3M 3BD

Tel: +44 (0)20 7844 4000

E-mail: [email protected]

Web: www.accenture.com/mba/insead

About us

Company activity

Accenture is one of the world’s leading management consulting,technology services and outsourcingorganisations. We help our clientsbecome high-performance businessesby delivering innovation.

Opportunities

Job functions

Strategy Consulting

Many talented MBAs miss out becauseso few realise Accenture is also a majorplayer in strategy consulting.

Our consultants have, among manyother things, inspired organisationaltransformation within Vodafone,identified valuable internal efficiencyimprovements for Mercedes-Benz andenabled organisations like BP to masterpost-merger integration.

Partnering with CEOs and theirleadership teams, our consultantsidentify new ways to boost productivity,build value, drive growth and improveperformance. They aren't afraid toconfront business-critical issues headon, to share ideas or to influencedifficult decisions.

Starting salary Competitive

What we seek

Ideal candidate background

Strong commercial background with a blue-chip company or strategyconsulting firm, strong academicbackground

Languages required

Fluency in English and language ofHome Office

How to apply

Form of application E-mail covering letterand CV to:[email protected]

Closing date See CareerLink forpresentation and deadline dates

Marakon (a division of CRA International)99 BishopsgateLondon EC2M 3XD

Tel: +44 (0)20 7664 3737

E-mail: Please refer to www.marakon.com/careers

Web: www.marakon.com

About us

Company activity

Marakon is a boutique top-tier strategy consulting firm. We work closely with CEOsand senior executives across industries to help unlock value within some of theworld’s largest and most dynamic organisations. The Economist describes us as “aconsultancy that has advised some of the world’s most consistently successfulcompanies.”

Fresh advice

We bring ideas, objectivity and experience to help executives answer the highestvalue questions and improve the quality of decision making. In our clientengagements, we:

• Focus on creating and building long-term value

• Bring cutting-edge ideas from business and academia

• Take accountability for producing tangible results

• Develop answers with, not for, our clients

• Serve as a catalyst bringing pace, rigour and structure

• Build capabilities that deliver lasting impact.

Opportunities

Job functions

Marakon gives you the unparalleled opportunity to have impact from your first day:responsibility with clients, exposure to senior executives and our leadership and thechallenge of solving some of the most important issues facing the world’s largestcompanies. At Marakon, you will have leadership opportunities early on in yourcareer, both on client and firm-building assignments.

We give our consultants the training to build a diverse set of strategy andmanagement capabilities and the experience to become world-class businessadvisors. Our case teams provide a fast learning environment that is supported by aformal training programme: in the first year you will learn the fundamentals of ourpractice, key concepts and tools. Over time the focus of training will shift towardsthrough leadership and managing client interactions and teams.

Starting salary Highly competitive

What we seek

Skills sought

Graduating MBA students

How to apply

Form of application

Covering letter and CV

Charlotte HespThe Parthenon Group39 Sloane StreetLondon SW1X 9LP

Tel: 020 7201 0460


Web: www.parthenon.com

About us

Company activity

We are a leading advisory firm focusedon strategic consulting for global CEOsand business leaders.

Boutique strategy consultants servingclients in Fortune 500 and privateequity, we undertake assignmentsacross a wide spectrum of markets andindustries; case teams have recentlyworked on luxury hotels, industrialcomponents, publishing, e-learning andconsumer products. Principals play acritical leadership role in all of the firm'swork. They are often the primary contactfor clients, responsible for developingand executing work plans and managingAssociates. Beyond clientresponsibilities, Parthenon relies on itsPrincipals to lead internal initiativessuch as recruiting and training.

European office locations

London

Main locations outside Europe

Boston, Mumbai and San Francisco

Opportunities

Job functions

Strategy consultant

Job location(s)

London


Annual intake (approx) Three

Internships/courses available? Yes

Project work available? Yes

What we seek


Any discipline

Skills sought

Excellent academic background,intellectually curious and bright, foreignlanguages are an advantage, highlymotivated with strong interpersonalskills

How to apply

Form of application CV and cover letter [email protected]


Finance vital statisticsI

www.insead.edu

FinanceIn brief• The large majority of companies that

recruit MBAs into finance roles areinvestment banks. However, there aremany other finance recruiters, includingindustrial groups which recruit MBAsinto their finance departments.

• There is also a trend towards strategicconsultancies recruiting financespecialists, to service their clients in thisarea or strengthen their corporateadvisory teams.

• Investment banks recruit MBAs into alltheir business areas.

• Merger and acquisition activity ofrecent years has now slowed down,resulting in less upheaval at work and amore stable company structure.

• MBA recruitment campaigns forinvestment banking are highlystructured, with most MBAs joining atassociate level. The interview processusually consists of six or more roundsof interviews. Some banks organise

final-round, weekend assessment centres inLondon or New York, sometimes called‘Super Saturday’.

• Even if you are applying to a bank with anassociate programme that involves rotatingacross several departments, identify the areayou would like to work in before applying.

• Investment banking is a competitiveenvironment to enter, especially given thecurrent financial climate, and to work in –with significant implications for yourlifestyle!

Facts and figures• 18 per cent of 2008 INSEAD graduates

accepted positions in finance.• 45 per cent of them chose to work in

banking, 27 per cent in financial servicesand 28 per cent in private equity.

• The overall median annual salary was€73,700, with the overall median sign-onbonus €24,600 (52 per cent of financesalaries were reported with a sign-onbonus).

The Vault.com ten most prestigious firmsin accounting 20101. PricewaterhouseCoopers LLP (Consulting

practice)2. Ernst & Young LLP (Consulting practice)3. Deloitte LLP4. KPMG LLP (Consulting practice)5. Grant Thornton LLP6. Moss Adams LLP7. McGladrey & Pullen LLP/RSM McGladrey Inc8. Plante & Moran, PLLC9. BDO Seidman LLP10. Eisner LLPSource: www.vault.com (note that this has a US bias)

The Vault.com ten most prestigious firmsin banking 20101. Goldman Sachs & Co.2. The Blackstone Group3. Morgan Stanley4. J.P. Morgan Investment Bank5. Lazard6. Greenhill & Co.

7. Credit Suisse (Investment BankingDivision)

8. Evercore Partners9. Deutsche Bank AG10. RothschildSource: www.vault.com

Top finance employers of INSEADgraduates 2008Standard Chartered Bank (8 hires)Credit Suisse (6)Deutsche Bank (4)Grupo Santander (4)HSBC (4)Admiral Group (3)Barclays (3)Citi (3)Merrill Lynch (3)UBS (3)Source: INSEAD MBA Graduates 2008 ( www.insead.edu/mba/meet_us/documents/MBA_2008_Employment_Statistics.pdf)

League tables

Please note that we went to press in January 2010. For more up-to-date statistics, please check the websites andpublications concerned.

J.P. Morgan was voted the most popular graduate recruiter in investment banking and investment, PricewaterhouseCoopersLLP in accounting and professional services and HSBC in banking, insurance and financial services at the TARGETjobs NationalGraduate Recruitment Awards 2009 (see targetjobsawards.co.uk for more winners).

CitiCitigroup CentreCanary WharfLondon E14 5LB

Tel: 020 7986 4000


Web: www.oncampus.citi.com

About us

Company activity

Citi is taking a lead role in helping theworld’s top corporations, governmentsand institutions adapt and be ready toflourish as financial markets return. Citi provides the best and brightestindividuals an opportunity to make a difference at the most global bank inthe world. Founded on nearly 200 yearsof experience with operations in 140countries, no other organisation canprovide the range of financial serviceswith which Citi serves its clients. Thislegacy is unrivalled and remains at thecore of Citi’s future success. With itsstrategic direction, financial stability andglobal presence, Citi is a lead player anda great place to start a career. Whateverpath you choose to take into the firm, we invest heavily in long term careereducation and tailored developmentprogrammes to help our people succeed.We look forward to meeting you oncampus.


Europe, Middle East and Africa (EMEA)


North America, Asia Pacific

Opportunities

Job functions

Investment Banking, Global TransactionServices, Global Engagement AssociateProgramme

Job location(s)

The majority of positions are Londonbased


Annual intake (approx) Full-time: 15,summer internships: 15

Internships/courses available? SummerAssociate Programme

What we seek

Skills sought

We are looking for people who are team players with excellent client skills, proven leadership skills, and who have a global mindset

How to apply

Form of application Online

Closing date Check with Careers Service


IFinance employers

www.insead.edu

Credit Suisse1 Cabot Square Canary Wharf London E14 4QJ

Web: www.credit-suisse.com/careers

About us

Company activity

Credit Suisse provides investmentbanking, private banking and assetmanagement services to clients acrossthe world. Active in over fifty countriesand employing more than 45,000people, we are one of the world’s leadingbanks.


European offices include: London,Frankfurt and Zurich.


New York, Hong Kong, Tokyo, Singaporeand Sydney.

Opportunities

Job functions

We offer intellectual challenges, highrewards and global developmentpotential for individuals who share anenthusiasm for business-criticalinnovation. There are opportunities inInvestment Banking, AssetManagement, Information Technologyand other support functions.



What we seek


Many people who join Credit Suisse doso because of ‘the people’. Culturematters. Credit Suisse appealsespecially to intelligent and outgoingpersonalities who want to work togetherin an atmosphere of co-operation andrespect.

Skills sought

In general, we seek candidates who havedemonstrated superior academic andcommercial achievement, and who areinnovative, highly motivated andnumerate. Some areas will place moreemphasis on relationship managementskills, while others will seek out highlyquantitative and analytical skills

How to apply

Form of application www.credit-suisse.com/ careers

Closing date Dependent on programme –please see our website for details

Ann GookinThe D.E. Shaw group120 West 45th StreetNew York, NY10036USA

Tel: +1 212 478 0000


Web: www.deshaw.com

About us

Company activity

The D.E. Shaw group is a globalinvestment and technologydevelopment firm with an internationalreputation for financial innovation,technological leadership, and anextraordinarily distinguished staff.Headquartered in New York, the D.E.Shaw group encompasses a number ofclosely related entities withapproximately $29bn in aggregateinvestment capital.

The firm has a significant presence inmany of the world's capital markets,investing in a wide range of companiesand financial instruments within boththe major industrialised nations and anumber of emerging markets.


London


New York

Cupertino, CA

Hong Kong

Gurgaon, India

Opportunities

Job functions

Analyst

Securities Trader


What we seek


We're seeking exceptional candidatesand are prepared to offer a highlyattractive compensation package for allpositions. Candidates from allbackgrounds are welcome to apply, andmany of our staff have experience inmaths, physics, computer science,engineering, economics, finance andbusiness.

EOE

How to apply

Form of application Please visit our websiteto submit an application:www.deshaw.com

Closing date Ongoing

Deutsche BankWinchester House1 Great Winchester StreetLondon EC2N 2DB

Web: www.db.com/careers

About us

Company activity

Deutsche Bank is a leading globalinvestment bank with a strong andprofitable private clients franchise. A leader in Germany and Europe, thebank is continuously growing in NorthAmerica, Asia and key emergingmarkets. With over 78,000 employees in 72 countries, Deutsche Bank offersunparalleled financial servicesthroughout the world. The bankcompetes to be the leading globalprovider of financial solutions fordemanding clients creating exceptionalvalue for its shareholders and people.

Key to our success are our employees,who come from 150 different nationsand work in 72 different countriesaround the globe. We embrace thistalent and diversity as it holds a vastpotential for creativity and innovationand enables us to continuously learnfrom each other. It’s our people whomake the difference and we thereforevalue performance, encourageteamwork and support our employees intheir personal and professional growth.

Opportunities

Job functions

• Asset Management

• Global Banking

• Global Markets

Job location(s)

London, New York, Hong Kong,Singapore, Tokyo

Starting salary Industry competitive

Annual intake (approx) 100 Associates

Internships/courses available? Yes. Pleasesee your careers service for details

What we seek


Two to five years' work experience plusstudying towards MBA

How to apply

Form of application Please see yourcareers service for application, interviewand starting dates; or visitwww.db.com/careers for more details

Closing date See website

HSBC8 Canada SquareLondon E14 5HQ

Tel: +44 (0)20 8123 4964


Web:

www.hsbcnet.com/campusrecruitment

About us

Company activity

The HSBC Group is one of the largestbanking and financial servicesorganisations in the world, with 335,000employees serving customers in 86countries and territories around theworld. With well established businessesin Europe, Asia-Pacific, the Americas, and the Middle East and Africa, HSBC’sunique combination of local knowledgeand international expertise reflects itsposition as ‘the world’s local bank’.

Through its global businesses – GlobalBanking and Markets, Global AssetManagement, Global Private Banking,and Global Transaction Banking – HSBCoffers a comprehensive range offinancial services to high net-worthindividuals, corporate, institutional andgovernment clients worldwide. HSBCtakes a long-term approach to ourclients and invests time in buildingstrong relationships and understandingeach client’s financial requirements.


Several locations


Global

Opportunities

Job functions

Global Banking and Markets, GlobalAsset Management, Global PrivateBanking and Global Transaction Banking

Job location(s)

Global

Starting salary Industry competitive


What we seek


HSBC is noted for the diversity of itsemployees, but seeks candidates with acommon set of abilities – highly motivatedand creative individuals who havedemonstrated academic achievements andwho have the ability to work independentlyand as a member of a global team.

How to apply

Form of application Please apply online

Closing date Please see our website:www.hsbcnet.com/campusrecruitment


Industry vital statisticsI

www.insead.edu

IndustryIn brief• While consultancies and investment

banks remain large-scale recruiters ofMBAs, more and more companies fromother sectors are looking to businessschools to provide high-qualitymanagerial skills.

• It is vital to look beyond on-campusrecruitment if seeking a job in industryor e-commerce.

• MBAs are recruited into all functions inindustry, business development/strategy,marketing/sales/product management,general management, consulting andfinance.

Facts and figures• 40 per cent of 2008 INSEAD graduates

accepted positions in industry.• 44 per cent found jobs utilising the

resources of Careers Services andAlumni, 19 per cent of industry recruitswere returning to previous employers(no doubt a reflection of globaleconomic circumstances), and 8.5 percent started their own companies.

• The median base salary of 2008INSEAD graduates was €72, 700.

• The median sign-on bonus was €12,400.

Top industry/other services recruiters ofINSEAD MBA graduates in 20081. Nokia (13 hires)2. Samsung (11)3. Shell (8)4. Alstom (5)4. British Telecom (5)5. Schlumberger (4)5. Siemens (4)5. Syngenta (4)6. Eli Lilly (3)6. Google (3)6. Johnson & Johnson (3)6. LVMH (3)6. Novartis (3)6. Philips (3)6. Procter & Gamble (3)6. Rolls Royce Plc (3)Source: INSEAD MBA Graduates 2008

Top functional areas of INSEAD MBAgraduates 20081. General management (25%)2. Corporate planning/Business development

(18%)3. Marketing/Sales (17%)4. Consulting (12%)5. Finance (7%)6. Production/Operations management (5%)Source: INSEAD MBA Graduates 2008

The FT Global 500 top companies bymarket capitalisation 20091. ExxonMobil2. PetroChina3. Wal-Mart Stores4. Indl & Coml Bank of China5. China Mobile6. Microsoft7. AT&T8. Johnson & Johnson9. Royal Dutch Shell10. Procter & GambleSource: www.ft.com

The BusinessWeek top ten global brands20091. Coca-Cola2. IBM3. Microsoft4. General Electric5. Nokia6. McDonald’s7. Google8. Toyota9. Intel10. DisneySource: www.businessweek.com

League tables

Please note that we went to press in January 2010. For more up-to-date statistics, please check the websites andpublications concerned.

IBM received the diversity recruitment award, Rolls Royce was voted the most popular graduate recruiter in the engineering,design and manufacture category, Procter & Gamble the most popular graduate recruiter in the FMCG category and Google themost popular graduate recruiter in the IT/telecoms category at the TARGETjobs National Graduate Recruitment Awards 2009(see targetjobsawards.co.uk for more winners).

Rolls-RoycePO Box 31Derby DE24 8BJ

Tel: +44 (0)1332 333 333


Web: www.rolls-royce.com/careers/mbas

About us

Company activity

Rolls-Royce is a leading global businessproviding power systems for use in civil and defence aerospace, marinetransportation and energy solutions


UK (Derby, Bristol, Glasgow), Germany(Dahlewitz, Oberursel), Norway (Oslo,Alesund)


USA (Indianapolis, Washington DC),China, Singapore, Brazil, Canada

Opportunities

Job functions

Programme Management, BusinessDevelopment, HR, Commercial Sales and Marketing, Finance, Purchasing,Operations Management, BusinessImprovement

Job location(s)

Anywhere there is a business need


Annual intake (approx) 20+

What we seek


Our MBA recruitment campaign is aboutthe future of Rolls-Royce – identifyingand developing high-calibre managerswith the potential to become globalbusiness leaders.

You will be a confident communicatorwith strong commercial awareness and preferably a background in a capitalintensive goods sector, although this isnot a requirement.

Skills sought

Programme Management, BusinessDevelopment, HR, Commercial Sales and Marketing, Finance, Purchasing,Operations Management, BusinessImprovement

Languages required

English

How to apply

Form of application Apply online atwww.rolls-royce.com/careers/mbas

Closing date Ongoing until spaces filled

Documents

INSEAD Alumni Speak 2010