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Global Trends and Value Creation in a Technologically and Socially Transformed World

Date: 9 - 11 May 2016
Venue: The Westin Langkawi Resort & Spa
Accreditation: 
SIDC CPE-approved: 20 CPE points

There is a clear leadership vacuum – economically and socially – in the world. Productivity growth within advanced economies has been falling since 2007; emerging and developing economies have fared little better.

Recently, we saw the second largest world economy log its worst performance since the global financial crisis, with analysts warning it is likely to worsen. The ever-increasing proximity of players in a highly interconnected global economy continues to deepen complexity. The wide range of information at our fingertips is also driving a new competitive marketplace and transforming not only the economy, but also the way people, companies and governments choose to operate.

These trends, together with a lack of coordination among institutions regarding financial or monetary policies and rising inequity of wealth, have led to a deep systemic instability at the economic level, and exacted substantial social costs. The successful businesses of tomorrow will be those that recognise the magnitude of social, economic and technological changes taking place, are able to anticipate trends and align business ventures with the needs of society.

This programme has been specifically designed to enable deep reflection on these global challenges and offers business leaders perspectives into how best-in-class organisations are managing faced with these rapid and non-cyclical global challenges.

The programme will pay attention to key and emerging global trends and discuss how these are impacting your businesses. It will examine critical success factors and key areas of failures in governance, explore the core aspects of executive-to-board relationships (informal and formal) and offer insights into drivers of success within this dynamic context, enable reflection of your strategic choices, review the concept of value accretion through technological evolution and latest business model variations, and – in stewardship – discuss the ability to focus organisations on long-term positive social impact while driving good business.

Who Should Attend

The programme is designed for board members of companies the C-Suite.
 

  • Programme Delivery

    Learning Outcomes

    • Understand global trends (relating to markets, capital, technology, labour, security, competitiveness, etc.) and how they affect business
    • Review best-in-class practices of organisations that lever these global trends for success
    • Determine where leadership is overstretched and how to find balance through improved governance
    • Understand what drives high-performance organisations and how to apply drivers to your context
    • Reflect on value creation and value extraction within a rapidly evolving technology ecosystem
    • Recognise best-in-class practices in management-to-board relationship and its relation to sustained organisational success
    • Diagnose barriers to the adoption of sustainable business models and how these can be overcome
    • Improve ability to steer organisations towards long-term positive social impact while increasing business performance methodology

    The programme is delivered via multiple methodologies designed to create an environment of intellectual sharing, such as:
    • Group discussions
    • Lectures
    • Case studies
    • Presentations
     
    The Speakers
    Didier.jpg Didier Cossin
    Professor of Finance & Governance Director of IMD Global Board Center
    UBS Chair in Banking and Finance
    PhD in Business Economics, Harvard University
    Master degree, Sorbonne University and ENS (Rue d’Ulm)


    Professor Cossin is the director of IMD Global Board Center. He works with senior leaders, executive committees and boards to provide the latest thinking on best-in-class governance, risk and opportunity optimisation, investment selection and strategy design. He favors an adaptive and interactive approach to finding distinctive solutions for organisations on a wide range of management topics. His latest research focuses on the role of the board in achieving success. His past research has dealt with risks, M&As and financial decision making.

    In his work with boards, Professor Cossin helps them enhance organisational performance through strategy involvement, best-in-class decision making, information management and general governance (including board restructurings). He is an advocate of adapting board work to the economic transformation taking place in many regions of the globe, and through his international experience he has gained insights into the different ways in which societies and economies deal with the issues at stake.

    He also looks at the latest approaches to risk issues. His work addresses not only technical risks (for which he uses his finance background) but also those arising from a number of different factors: psychological biases, social and cultural environments, technological changes (such as in information issues), strategic choices and/or from governance structure (for which he levers his long experience with senior leaders).

    Professor Cossin is an advisor and/or executive teacher with the United Nations, central banks of several countries, the boards or executive committees of corporations, financial institutions and funds in Europe, Asia and the Middle East. His most significant experience is with the oil and gas industry (Schlumberger, Shell, Sinopec, Saudi Aramco and others) and the banking industry (HSBC, Bank of America, Goldman Sachs, ICBC and others), but he has also worked with many other industries (media, luxury goods, retail, shipping, etc.). He is a member of the Risk Who’s Who Society, the American Finance Association, the Eastern Finance Association, and the European Finance Association.

    Professor Cossin holds a PhD from Harvard University (Robert C. Merton Chair) and is a former Fulbright Fellow at the Massachusetts Institute of Technology, Department of Economics (USA). He is a former student of ENS rue d’Ulm (France) and holds master degrees from Sorbonne University and EHESS (France). Before joining IMD, Didier Cossin worked for Goldman Sachs (London, UK) and pharmaceutical company Roussel-Uclaf (Tokyo, Japan) as it was considering an initial offering on the Tokyo Stock Exchange. He has taught at Harvard University, where he obtained two Derek Bok Awards for excellence in teaching, and was associate then full professor at HEC, University of Lausanne (1993-2002). He chaired the university’s Department of Management (1995-1997); was the Director of both its Institute of Banking & Financial Management (1997 2002) and its PhD in Management (1997-1999). At IMD, he has led or co-led the pension fund, the recruiting process, a strategy review as well as other administrative responsibilities supporting the success of the organisation.

    He is the author and co-author of two books, a number of book chapters and many articles, several of which have obtained citations of excellence or other awards. He holds the UBS Chair in Banking and Finance at IMD and has also received distinctions such as the Febelfin BFI Chair and the Deloitte Risk Management Chair.

     
    Amit-Mukherjee.jpg Amit Mukherjee
    Professor of Leadership and Strategy, IMD Business School
    DBA Harvard Business School


    Professor Mukherjee’s research and teaching interests lie at the intersection of leadership, technology, strategy, and organizational effectiveness.

    His 2009 book, “The Spider’s Strategy”, explored the key fact that though today’s global companies compete as members of networks, markets continue to evaluate them individually. His next book will address the leadership needs in such companies at mid-tier levels. Numerous articles by him, or about his research, have appeared in academic and practitioner-oriented journals.

    Professor Mukherjee has been an academic, line executive, and consultant. Most recently he taught at Hult, and earlier, at INSEAD, and Babson. As Managing Professor – Hult Labs, he played a key role in transforming Hult’s MBA. He served as the Chief Technology & Strategy Officer of a small NASDAQ-listed technology company; a Director and co-practice-leader at a global consultancy; and founded the strategic consulting business at a NASDAQ-listed analyst company. He has helped corporate leaders craft business, organisational, and market entry strategies. He has also led operations improvement teams, and multi-organisational, multi-functional, groups that developed and launched next generation products.

    He earned his undergraduate engineering degree from BITS, Pilani (India), an MBA from the Darden School of the University of Virginia (USA), and his doctorate from Harvard Business School.
    prof-salvatore-cantale.png Salvatore Cantale
    Professor of Finance, IMD Business School
    PhD in Finance INSEAD


    Salvatore Cantale is Professor of Finance at IMD. His major research and consulting interests are in value creation, valuation, and the way in which corporations structure liabilities and choose financing options. Additionally, he is interested in the relation between finance and leadership, and in the leadership role of the finance function.

    He has published in international double-refereed journals. One of his research papers, “Bank Capital Requirements and Managerial Self-Interests,” was nominated for an Outstanding Paper Award at the Southern Finance Association.

    Before joining IMD, Salvatore was an analyst with a large investment bank in London, Faculty Director of the Master in Finance and Master in Risk Management at Tulane University’s A.B. Freeman School of Business, a member of the Yale International Institute for Finance, and a Research Fellow at New York University. He currently serves as advisor on the Board of the Goldring Institute of International Business at Tulane University.

    Salvatore holds a BA in Economics and Finance from Universita’ di Catania, Italy, and a Master’s Degree in Management and a PhD in Finance from INSEAD.
     
  • Programme Outline

    Day One
    Morning Session Global Trends - What Lies Ahead?
    Developed at IMD, the Global Trends project is the result of a thorough research work which allows executive teams to discuss challenges and opportunities ahead. During the session, participants will work in groups and will discuss the importance of each global trend: what are the current facts and figures regarding future developments that could create opportunities within our organisation. What do we know, now, that is shaping the world future, regarding natural resources, technology, markets, industries, customers, regulation? How will this shape our future and our ability to compete in our environment?
    Afternoon Session Governance, Success, & Failures - Global, ASEAN, Malaysia
    During this session, we will explore together how recent developments in the region and beyond have impacted what best-practice corporations are doing (or should be doing) in terms of board work as well as in general governance practices. An overall awareness of the tools used by top players, of the governance weaknesses, of the leadership issues around supervising risks or supporting management, of the typical behavioural problems faced at the top level and of the general risks and opportunities, is essential. And of course, top board members are also appointed to bring in outside views, and to complete understanding of social and economic dimensions that may not be available to management, which may have deep impact on an organisation when this critical role fails.

    We will consider major disasters, financial and nonfinancial, from the ASEAN, Asia and beyond. The rise of economic, social and business complexity makes effective boards even more of a competitive advantage for well-managed companies than in the past. Today’s CEOs need sparring partners to help them confront the full range of challenges they face. And who better to play this role than a strong, well-informed, well-connected board? We will look at examples of successes and failures and analyse what makes some boards a liability and others a true competitive asset. We will also address specific emerging markets governance issues. Typically emerging markets conditions create stress on governance around 5 dimensions: 1. Transparency, reporting, fraud, corruption 2. Political interference and network required 3. Management of full supply chain 4. Strategic clarity 5. Crisis management abilities We will explore these specificities with examples of companies in emerging market situations (ASEAN,China, Africa, Middle East, Brazil notably). We will use examples coming from our clinical practice such as the Chinese bank ICBC, the African bank Ecobank and others.

    Where do boards fail? There are four key areas of failure. This session will look at these four main areas of failures of boards in depth and what boards need to do to stay vigilant on these four dimensions.


    Day One Learning Objectives:

    • Develop an ability to diagnose key success factors for governance and the four areas of board failures
    • Build understanding of best-practice tools to assess risks and opportunities presented by board failures, governance weaknesses, leadership issues and typical behavioural problems faced at the director level
    Day Two
    Morning Session Value Creation and Value Extraction with Technological Evolution
    Emerging data shows that as problems and opportunities move at blinding speed across a network of companies, mid-tier managers can affect stock prices by magnitudes top executives alone could not too long ago. A simple example: America’s subprime crisis caused Iceland to go bankrupt.

    This session will explore the day-to-day challenges and opportunities that arise when companies work in networks. What organisational capabilities can we build to make companies more resilient? Moreover, the very task of leadership is changing. Corporate leaders now need to deal with rapid, unexpected change, the complexity of more simultaneously moving parts, and greater diversity of people and organisations.
    Afternoon Session Management-to-Board Relationships
    The involvement of boards is key to organisational success. Nonetheless, the work of the board is often rife with tensions, tensions with management, tension within the boards. Together, we will establish processes for effective board work on different dimensions such as risk or strategy and look at the group dynamics involved. It is therefore important to focus the role of the board, allocating its time around 3 dimensions of work depending on context:
    1. Co-creation role
    2. Supervisory role
    3. Support role
    We will also explore the different decision styles and the different discussion styles that enhance or impede the relationship between the board and management.

    Day Two Learning Objectives:

    • Understand the different roles boards should play
    • Enhance awareness of how context affects the rold of the board
    • Develop a set of assessment criteria to evaluate board management relationship
    • Consider how to have an effective discussion in board meeting and with management
    Day Three
    Morning Session Latest Business Model Thinking
    Throughout history, certain technologies have fundamentally reshaped organisational structures, how humans work, and the skills organisations value. Companies which embrace these “epochal” transitions have a chance of thriving; those that don’t inevitably fall by the wayside. For example, during the 1980s, the bundle of technologies we now call “Lean Sigma” made teams the building blocks of organisations, and raised the skills needed for even the most basic work done in companies. The Internet is such a “long arc” technology. Its first major impact is the dispersion of work. So, even though stock markets measure them as individual entities, few companies compete on their own anymore; instead they compete as members of networks. Second, it is heightening the role of intellectual property in determining winners and losers.

    In this session, we will explore what these changes are, and their implications for corporate success. We will also delve into how to create robust networks.
    Afternoon Session Financial Management and Corporate Evolution towards Stewardship
    How can a business thrive and sustain growth while enhancing the wealth of its stakeholders and the wellbeing of the societies in which it operates? This, in crux, is the aim of stewardship. It takes extraordinary individuals with the ability to emulate their organisation along three seminal attributes:
    1. They Lead with Impact
    2. They Safeguard the Future and
    3. They Drive Social Good.
    During this session, we will explore which societies, which companies, which governments will promote the rise of successful transformational for-profit organisations in the future and what it will take in terms of culture and individual commitment. The landscape for business is ever evolving. Business structures and relationships among stakeholders are becoming more complex and interdependent. Businesses face unrelenting shortterm pressures when making decisions. Corporate governance practices are being enhanced but often move in the direction of increasing guidelines and regulations. However, sound stewardship has a longer term and wider view, with an attitudinal motivation that extends beyond a “comply or explain” mentality. Together, we will explore what it takes both at individual and collective levels to ensure great stewardship in significant organisations for the wealth and well-being of society.

     

  • Programme Fees

    The following packages are available to suit your needs:

    Package Fee
    Regular Fee RM42,000 + 6%GST = RM44,520
    Malaysia-based Participant (CMDF funded) RM17,000 + 6%GST = RM18,020
    International Participants USD10,000 + 6%GST = USD10,600

    *cost includes meals, accommodation and programme materials for one participant.
    **Fees quoted are subject to Goods and Services Tax (GST) of 6% for programmes conducted in Malaysia. SIDC is licensed to collect GST under the laws of Malaysia (Registration Number 0012200226368)
    *** Flight & Travel documents should be arranged by participants. Any transaction costs with respect to international banking transactions will be borne by the participants.

 

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