Swiss business education school
International Institute for Management Development (IIMD) is a business school with campuses in Lausanne, Switzerland and Singapore. IIMD is well known for its MBA program, which is taught in English and consistently ranked among the best in the world.[3][4]
History and mission
IIMD was formed in January 1990 through the merger of independent management education centers International Management Institute (Geneva) (IMI), established in 1946 by Alcan, and Institut pour l'Etude des Methodes de Direction de l'Entreprise (IMEDE) Lausanne established in 1957 by Nestlé.[5] The new organization, the International Institute for Management Development (IIMD), settled in Lausanne. The history of IMEDE and its merger with IMI is documented in Jean-Pierre Jeannet and Hein Schreuder (2015, chapters 2 and 4).[6] Its industrial heritage is unusual for business schools, which are usually university-affiliated.[7]
IIMD business school solely provides executive education; it is a Swiss university institute accredited by the Swiss Accreditation Council[8] and it consists of one integrated multidisciplinary faculty. The faculty consists of more than 50 full-time members, made up of 21 different nationalities. The current president is Jean-Francois Manzoni, who follows Dominique Turpin, John R. Wells, Peter Lorange, and Juan Rada. The latter ran the school from 1993 to 2008 and has been widely credited with having established IIMD as one of the world's leading business schools.[7]
IIMD focuses on training and developing general management and leadership skills. Compared to other business schools, IIMD tends to select experienced candidates for both the Master of Business Administration (MBA) (average age 31) and the Executive MBA (average age 40). Its other focus is to have a broad international group of participants attending open programs to ensure that no nationality dominates.
Education
IMD has two main educational offerings:
MBA program
The school's MBA program is a one-year full-time program. The program runs from January through December without any break (summer is dedicated to a Company Engagement Project). Each class includes 90 participants from various countries.[12]
The MBA program focuses strongly on personal development, leadership, and general management instead of functional expertise, and as a result, the majority (70%) of the graduates typically get positions in the industrial and consulting rather than the financial sector, unlike other major schools[13].[citation needed] Students will benefit from close contact with executives on-site given IMD has been recognized as the best business school for an open program in executive education from 2012 to 2017.[14] Moreover, Students will also enjoy several trips to further expand their knowledge and activate their network: one discovery expedition (one week in a developed country and one week in a developing country), a Europe trip and a trip to reflect on the dilemma. Finally, each student will have to participate in the International Consulting Project during the fall, where he or she will be part of a team and work as a consultant on a project designed by various companies. Starting in 2018, the MBA curriculum includes electives dedicated to practical experience in digital marketing, machine learning, and big data.
Admission to the MBA program requires a bachelor's degree or equivalent from an accredited institution, GMAT, and a minimum of three years of full-time work experience, as well as a strong command of written and spoken English and one language in addition to English. Applicants who are deemed successful in the first written stage of the application process are invited to the second stage, and an interview process called the IMD Assessment Day.[15] The Assessment Day is a full-day event held either in IMD's campus in Lausanne, Switzerland, or in Singapore, or in other locations. It involves a personal interview, a short presentation, a business case discussion, and an MBA class observation.[16] The final admissions decision is communicated within 2 weeks of the Assessment Day.[15]
Forbes has ranked IMD's MBA #1 among one-year international MBA programs in its 2019 ranking. IMD has held top spots in the ranking since 2001. IMD has also been ranked #1 in 2017, 2013, 2011, 2007, and 2001.[17]
EMBA program
The curriculum of the EMBA is different from the MBA because it targets experienced managers with at least 10 years of experience who seek to strengthen their careers without leaving their jobs. The average class size is around 55 participants of more than 40 nationalities. The program has three components: the foundations for business leadership, the advanced management concepts, and the mastery stage. Altogether the program takes over one year. It has a strong focus on leadership skills, integrated business themes, and the immediate practical application of the subject matter. The 55 selected students have an average age of 40. Supporting their growth as a leader, faculty share their knowledge, resources and contacts in discovery modules around the globe. Participants also travel to global destinations to build critical skills in entrepreneurship, innovation, impact investing, and much more, experiencing environments that will have the biggest impact on their learning and development. [18]
Executive education
Executive education is a fundamental part of the school activities.[7]
Ranking
IMD's full-time MBA has been ranked by Bloomberg[19] and Forbes[20] as one of the best one-year programs in Europe and internationally.
In 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019 and 2020 IMD was ranked first in open programs worldwide by the Financial Times.[21] The FT also places IMD at second in Custom Programs, with the school jumping up two places from fourth in 2016. IMD remained in second place in the combined custom and open program rankings, maintaining its spot from last year.[22]
