IE Business School redesigns its International MBA

IE Business School has redesigned its International MBA program, ranked No. 2 worldwide among non-US MBAs by Bloomberg Businessweek (2014 MBA Ranking) and No. 4 in Europe by  Financial Times (2015 MBA ranking). The presentation of the School’s new IMBA program design took the form of an inspirational event held in MadridDome with speakers who included the co-founder of Netflix, Marc Randolph, and astronaut Michael López-Alegría, who shared their vision of the importance of leadership and the entrepreneurial mindset in the field of business management. MadridDome is one of only three ultra-technological structures in Europe that provide 360º vision, enabling participants in the presentation to experience the immersive reality of the new IE IMBA.

Both Marc Randolph and Michael López-Alegría underscored the importance of thinking in very different ways to achieve success in the corporate world.  Michael López-Alegría talked about how in his line of work it is not easy to think outside the box because everything is done in accordance with strict guidelines, but that it is extremely important in the world of business. The former commandant of the International Space station stressed the importance of innovation and creativity when it comes to setting up new businesses, citing the private initiatives currently underway in field of space tourism as an example.

Marc Randolph talked about how the most important thing for an entrepreneur is not to have great ideas but rather to put them into practice, explaining that when you have an idea it is impossible to know if it’s good or bad, and that a person has to do something with an idea to gauge how good it is.  Randolph stated that in his experience it only takes three things to be an entrepreneur, namely an idea, the acceptance of risk and a belief in one’s own capacity. He also mentioned the importance of making mistakes in the process, and learning from mistakes. He explained that if a person does not make mistakes then they are not trying hard enough, and expressed his belief that leading a start-up requires special skills in areas like talent management and communication, and that it is essential to have confidence in the company’s employees. He concluded by saying that business schools can and should foster these skills.

The new International MBA program will start this month with a student body comprising some 90% international students from 65 countries, with an average of 5 years of professional experience. The redesigned IE International MBA runs for one year, has Spanish and English-language versions, and permits students to design custom program for themselves in accordance with their specific interests and career plans. Students can center on becoming creators by opting for the track with a special focus on entrepreneurship, or transformers, if they prefer to concentrate on developing their managerial careers in the corporate world. Moreover, they can choose from over 150 elective courses to personalizetheir learning experience, and can opt to develop business projects or work on social projects in South Africa, Ethiopia, Peru, or Brazil.

Students will also be able to take part in the Post MBA Long Exchange Program, a three-month exchange program with any one of 58 business schools worldwide, including Chicago Booth, Babson College, NYU Stern, London Business School, or CKGSB Beijing. They will also build on their contact networks during the Global Network Week, travel with the Venture Lab initiative to get to know entrepreneurial ecosystems in other countries, or present their own business projects during the Venture Days organized by IE in cities worldwide, including Shanghai, Sao Paulo, Mexico D.F., Providence, Berlin, Tokyo and Lisbon. The program offers a total of 66 international destinations designed to enrich the MBA experience.

IE Business School’s International MBA program will also include Professional Fitness sessions throughout the entire program. Students will use the sessions to design a professional growth strategy, attending sector-specific workshops and participating in the new Talent Forum, a three-day job event run in collaboration with recruiters. Students will also develop their soft skills as part of the new Behavioral Fitness model, aimed at building on their capacity for leadership, communication, management of high-performance teams, mindfulness, influence, and change management, all key factors for success in the field of business management.

Santiago Íñiguez de Onzoño, Dean of IE Business School, explained how the redesign of IE’s International MBA has further strengthened the international nature and humanistic approach of the program.  “The program has a marked focus on entrepreneurship, social commitment, and innovation, as well as bringing added impetus to students’ soft skills and capacity to map a career path. Since IE welcomed the first intake of its International MBA Program in 1983 over 5,000 students from more than 80 countries have graduated from the program, managers and entrepreneurs who are ambassadors of the School, working in every continent.”