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#1A Year of FirstsINSEAD Annual Report 2016From top: Global Business Leaders Conference2015, Faculty Retreat in Abu Dhabi,Talent Networking Forum 20161011Middle East CampusINSEAD’s Middle East campus alsoexperienced significant “firsts” thisyear, by conducting its first fullresidential MBA period and hostingthe Biannual Faculty Retreat.Held in the United Arab Emiratescities of Abu Dhabi and Dubai, theMBA residential option, launchedin January 2016, had 115 applicantscompeting for 45 places.Island Resort near the school’scampus in Abu Dhabi. Describedby many as “the best retreat ever”,the itinerary included briefings,tours and presentations fromexternal stakeholders to updateeveryone on the Middle Eastcampus project. Faculty discussedthe new MBA curriculum, otherDegree Programme initiatives andINSEAD’s strategy in the region.Photovoltaic cellsproducing solar electricityon INSEAD’s Asia campusSustainability ReportFor many students, it was their firstMiddle East experience, while otherssaw the residency as a chance todeepen their knowledge of businessopportunities in the region andbecome acquainted with the culture.Highly successful, this new offeringcreated novel opportunities forstudents to build global networksand broaden career options.In 2016, INSEAD launched its firstpublic Sustainability Report inaccordance with the G4 GlobalReporting Initiative’s guidelines.This report reflects the increasingimportance sustainability playsin the school’s educationalprogrammes and researchoutput. The report also focuseson sustainability in financialmanagement, governance andday-to-day operations.During their two-month stay, studentsworked on “Live Action Projects”,reporting to senior managementof prominent organisations in theregion. Leveraging knowledge fromtheir core courses, students analysedissues of strategic importanceto their client companies. Theypresented their findings at the TalentNetworking Forum, attended by 400delegates including representativesfrom 55 Middle East companies, localrecruiters and INSEAD students andalumni working in the region.In February 2016, 80 facultymembers attended the FacultyRetreat at the St. Regis SaadiyatBy making public key sustainabilityindicators of the school’sactivities and highlighting specific,measurable and time-boundgoals for the future, INSEAD aimsto raise its accountability andperformance to become an evermore sustainable organisation. Thesustainability reporting cycle isintended to become annual andwelcomes feedback.From green roof landscaping toencouraging cycling, INSEAD isstriving to become an ever-moresustainable organisationIn 2014/2015, sustainability-relatedoutput accounted for about onefifth of our total research outputand external research funding.Courses focused on sustainabilitywere a compulsory part of the MBAand Global EMBA curricula andincluded in the school’s ExecutiveEducation portfolio.Sustainability ExecutiveRoundtables, meanwhile, broughttogether senior alumni, industryexperts and faculty to discussissues such as “Sustainability as aDriver of Operational Excellence”(September 2014) and “Challengesand Opportunities for Individualsand Organisations” (June 2015).Operations-wise, the third phase ofthe Singapore campus development,completed in 2014/2015, wasdesigned around sustainabilitycriteria, while carbon footprintassessments revealed an 8.2%reduction in annual CO2 emissionson the Europe campus. Furtherreductions are expected as a rangeof energy-efficiency projects, nowbeing piloted or at roll-out stage,come into effect.

Faculty and ResearchINSEAD Annual Report 201612Faculty andResearchI NSE A DFACU LT YBrilliant minds from around the worldmake up our faculty, and in 2015/2016,they were more prodigious than ever intheir output.CE N T R E S OFEXCEL L E NCE13An A to Z of our groundbreaking,game-changing research hubs.Collaborating to createbusiness knowledge.At INSEAD, the culture ofexcellence that permeates allaspects of the school beginswith our faculty.Identifying trends in a fast-movingbusiness world, the faculty extendthe boundaries of businessknowledge through their widelyrecognised research. They alsobring their talent, expertise andexperience into the classroom —igniting debate and discussionamong top students from everycorner of the globe.Recognised ExcellenceINSEAD faculty leverage theirteaching prowess by developinginnovative pedagogicalapproaches, materials andprogrammes for their students.Of note, four faculty memberswere named the Case Centre’stop 40 bestselling authors for theacademic year 2015/2016. Thisfollows the extraordinary successin 2014 when INSEAD faculty wererecognised for having six of the top10 bestselling cases by the CaseCentre for the last 40 years.INSEAD’s thought leaders alsogarnered research and emergingscholars’ awards, lifetimeachievement recognition, serviceawards and a coveted editorialappointment (see page 14).We currently have 60 research staffwho support faculty across ourthree campuses. Our well-outfittedlibraries with knowledgeable staffalso underpin academic excellenceat INSEAD.We currently boast14540faculty who representnationalities.Blue Ocean Strategy InstituteCentre for Economic GrowthCentre for EntrepreneurshipCorporate Governance InitiativeDecision Making andRisk AnalysiseLabEmerging Markets InstituteIn 2015/2016, they wrote12288249journal articles,European CompetitivenessGlobal LeadershipGlobal Private Equity InitiativeHealthcare ManagementInnovation and Policy InitiativeINSEAD-SorbonneUniversity Behavioural Labworking papers andAssistant Professor Jennifer Petriglieriteaching the MBA elective'Psychological Issues in Management'chapters inbooks.INSEAD-Wharton Center forGlobal Research and EducationLearning Innovation andTeaching ExcellenceRandomized ControlledTrials LabSocial InnovationWendel International Centrefor Family BusinessCentres of ExcellenceAt INSEAD, we have 18 Centres ofExcellence, vibrant research hubsthat serve as gateways betweenacademia and practice. Somecentres address pressing businessissues, such as the EmergingMarkets Institute, while others havea history of tackling fundamentalbusiness topics such as the Centrefor Entrepreneurship. The BlueOcean Strategy Institute hasgained recognition around theworld for its unique systematicapproach to strategic success.At these centres, our facultycollaborate with businessprofessionals, government officials,alumni, visiting fellows, scholarsand others to produce world-classresearch and state-of-the-artlearning technologies.For this report, we highlight oneCentre of Excellence, the INSEADCorporate Governance Initiative(ICGI). This centre positionsINSEAD as the world’s leadinginternational business school incorporate governance education.Since its launch in 2010, ICGI hastrained more than 1,000 boardmembers, C-Suite executivesand professionals working withboards. With Executive Education,the initiative has also developedexpertise to design specificprogrammes for the boards ofmajor corporations.The 30 faculty memberscontributing to the initiativedesigned innovative pedagogicalmaterials such as boardsimulations, 360 feedbacksspecific to directors, case studiesand reports to support the courses.New Faculty HiresDuring the first week of September,our seven newly recruitedfaculty joined us for a ‘WelcomeDay‘ on the Europe campus.Greeted by staff and faculty, thenew professors participatedin our ‘Learning ManagementEducation’ (LME) workshopled by Gianpiero Petriglieri,Associate Professor ofOrganisational Behaviour.

Faculty Recognition and AwardsINSEAD Annual Report 201614Faculty Recognitionand AwardsRECOGNITIONEditorAdministrative Science QuarterlyHenrich Greve2015 Early Career AwardSociety for NeuroeconomicsHilke Plassmann2016 Emerging Scholar AwardStrategic Management SocietyGuoli ChenWinner, 2016 OutstandingContribution to the Case MethodThe Case CentrePierre Chandon2016 Singapore’s MostInfluential Business ProfessorsAged 40 and UnderSingapore Business ReviewGuoli Chen, Roderick SwaabRESEARCH AWARDSRunner Up, 2015 Award for TheHealth Applications SocietyINFORMSStephen E. Chick, Martin Forster,Paolo PertileFinalist, Wings ofExcellence AwardUniversity of St GallenDavid Clough2015 Strategy Research FoundationDissertation ScholarshipStrategic Management SocietyDavid Clough2015 Best Student Paper AwardManufacturing and ServiceOperations ManagementINFORMSAshish Kabra, Elena Belavina,Karan Girotra2016 Best Doctoral StudentConference Paper AwardEuropean Finance AssociationJim Goldman2015 Strategy Research FoundationDissertation ScholarshipStrategic Management SocietyYidi GuoFinalist, 2016 Best Paper AwardStrategic Management SocietyMatthew Lee, Laura Huang2016 Best Student PaperCompetition, Second-place Prize,The Seventh POMS-HKInternational ConferenceProduction and OperationsManagement SocietyBhavani Shanker Uppari,Sameer HasijaFinalist, 2016 Best Paper AwardAcademy of ManagementAnnual MeetingQuy Huy, Scott Sonenshein,Henrik BresmanWinner, 2016 LifeAchievement AwardDVWO, Manager Seminare,GSA, GABAL Verlag, SpeakersExcellenceManfred Kets de Vries2015 Finalist, Strategic HumanCapital Interest Group BestPaper PrizeStrategic Management SocietySunke Lee, Philipp Meyer-Doyle2015 Runner Up (HonorableMention), The StrategicManagement SocietyBest Paper AwardStrategic Management SocietySunke Lee, Philipp Meyer-DoyleFinalist, 2015 Best DoctoralStudent Paper AwardIsrael Strategy ConferenceSunke Lee, Philipp Meyer-Doyle2015 Best Student Paper AwardPOMS College of Product andTechnology ManagementINFORMSTian Chan, Jürgen Mihm,Manuel SosaNominated for 2016“That’s Interesting!" AwardAcademy of International BusinessConferenceFelipe Monteiro, Sergio Lazzarini,Insper Luiz MesquitaRunner Up, 2016 Best Paper Award,Management and OrganisationalCognition (MOC) DivisionAcademy of ManagementAnnual MeetingGianpiero PetriglieriSelected as One of 12 ImpactfulArticles Published in the LeadingMarketing JournalsMarketing Science InstituteHilke Plassmann, VinodVenkatraman, Scott Huettel,Carolyn Yoon2015 Citations of ExcellenceEmerald Citations of ExcellencePhanish Puranam, Ranjay Gulati,Michael Tushman2015 Best Student Paper AwardAcademy of ManagementAnnual MeetingMichael SchaererNominated for 2016 BestConference Paper AwardStrategic Management SocietySorah SeongNominated for 2016 Carolyn DexterAward for Best International PaperAcademy of ManagementAnnual MeetingJasjit Singh, Serguei Netessine,Nina TengNominated for 2016 BestConference Paper AwardStrategic Management SocietyJasjit Singh, Serguei NetessineBest Paper AwardAcademy of ManagementAnnual MeetingDouglas Frank, Craig Smith2015 Best Doctoral StudentPaper AwardIsrael Strategy ConferenceDaniel Mack, Gabriel SzulanskiRunner Up, Decision AnalysisSpecial Recognition Award 2015Decision AnalysisOtso Massala, Ilia Tsetlin2016 Best Graduate StudentPoster AwardSociety for Personality andSocial PsychologyChristilene Du Plessis, MichaelSchaerer, Andy Yap, Stefan ThauBest Conference Student LedPaper AwardInternational Association forConflict ManagementChristilene Du Plessis, MichaelSchaerer, Andy Yap, Stefan ThauCASE WRITING AWARDSOverall Winner, 2016 Case AwardsThe Case CentreHaiyang Yang, Pierre ChandonWinner, 2016 Case Centre AwardsHuman Resource Management/Organisational Behaviour CategoryThe Case CentreWilliam Maddux, Roderick Swaab,Betania Anure, Elin WilliamsWinner, 2015 EFMD CaseWriting Competition, IndianManagement Issues andOpportunities CategoryEFMDClaudia Zeisberger,Anne-Marie CarrickSERVICE AWARDS2015 Management ScienceMeritorious Service AwardManagement ScienceSameer Hasija2016 MSOM DistinguishedService AwardsINFORMSSerguei Netessine2016 Editorial BoardService Award, Academyof Management Learningand EducationAcademy of ManagementAnnual MeetingGianpiero Petriglieri2015 Management ScienceMeritorious Service AwardManagement ScienceIlia Tsetlin2015 Informs SimulationSociety DistinguishedService AwardINFORMSEnver YucesanFinalist, 2016 Best Paper AwardStrategic Management SocietyIthai Stern, Razvan Lungeanu2015 Best Proposal AwardStrategy Process Interest GroupStrategic Management SocietyDaniel Mack, Gabriel Szulanski At the ShawFoundation WaterLily Courtyard onthe campus in Asia15

16INSEAD Annual Report 2016New FacultyNew FacultyJuan Ma, ChinaAssistant Professor of Strategy17Ma earned a doctorate in BusinessAdministration with a specialisation inStrategy from Harvard University. Herresearch tackles institutional distrust,product market failures and institutionalcorruption in financial markets. Ma’s workhas been cited by media outlets includingthe Financial Times and Forbes.This year, INSEAD welcomed sevennew faculty — from seven differentcountries — to the Europe and Asiacampuses. This international cohortnot only has made promising researchcontributions in their fields but alsohas shown true talent in the classroom.Ville Satopää, FinlandAssistant Professor of Technologyand Operations ManagementSatopää’s research explores different areas offorecasting: judgmental and statistical forecasting,modeling crowdsourced predictions, combiningand evaluating different predictions and informationelicitation. He received his PhD from the WhartonSchool of the University of Pennsylvania.Naveen Gondhi, IndiaAssistant Professor of FinanceGondhi obtained a PhD in Finance from KelloggSchool of Management. At INSEAD, he teachesFinancial Markets and Valuation in the MBAprogramme. His research investigates theimpact of limited attention of firm managers formacroeconomic variables and asset prices.Song obtained her PhD at the USC Leventhal Schoolof Accounting after studying at the London School ofEconomics and working at PricewaterhouseCoopers. Herresearch interests include strategic disclosures, qualitativeaccounting information and the informational impact ofaccounting on capital markets and product markets.Ilze Kivleniece, LatviaAssistant Professor of StrategyKivleniece holds a PhD inStrategic Management fromHEC Paris and was a facultymember at Imperial CollegeBusiness School. Her researchfocuses on connecting strategicmanagement with broaderissues related to the interactionbetween firms and public,political or social environments.Shiwon Song, KoreaAssistant Professor of Accounting and Control Sergei Glebkin, RussiaAssistant Professor of Finance Glebkin’s research focuses onasset pricing theory, marketmicrostructure and informationeconomics. He holds a PhD inFinance from London School ofEconomics, MA in Economics fromNew Economic School, Moscow,and BSc and MSc in Physics fromMoscow State University.Thomas Keusch, GermanyAssistant Professor of Accounting and ControlPrior to joining INSEAD, Keusch was on thefaculty of Erasmus University Rotterdam.He received his PhD at MaastrichtUniversity. At INSEAD, Keusch teachesManagerial Accounting in the MBAprogramme. His research interests includecorporate governance, shareholder activismand risk management.

PhD in ManagementINSEAD Annual Report 201618KnowledgeI NSE A DK NOW L E DGEWith an incredible numberof monthly page views anddownloads, the portal took off in2016. During the year, we saw:Readership for Knowledge,our expert opinion andmanagement insights portal,has surged over the past year.The INSEAD Knowledge app,launched in 2015, has vastlyexpanded the reach of our content,both within and outside theINSEAD community. The numberof app users is growing by about10% every month. Approximatelyone year post-launch, the appsurpassed the Knowledge websitein terms of monthly page views.Social media growth remainsvibrant as well, with upwards of15% of website traffic originatingfrom Facebook, Twitter, andLinkedIn. Knowledge’s socialmedia accounts receive thousandsof new followers every month.Across both mobile devices anddesktop, INSEAD Knowledgecontent was viewed more thanthree million times during 2016.Knowledge’s roster of contributorsnow includes 122 faculty members.Looking ahead to 2017, wecontinue our internal outreachefforts in hopes of achieving stillgreater faculty participation. Knowledge isavailable for free atthe iTunes App Storeand Google Play300,000monthly page views20,000monthly click-throughsfrom social media7,000A CL A SS A PA RTParticipants in our PhD inManagement programme come fromall corners of the globe and end up atthe world's best schools.In 2015/2016, ourintake was made up of85social media followers20,000subscribers toweekly emailINSEAD’s PhD programme isconsistently ranked as one ofthe best in the world, basedon where the graduatesachieve placements.diverse. A typical intake has asmany nationalities as it doesparticipants, each bringingdifferent perspectives andexperiences to the classroomand their research.For the 2016 Financial TimesMBA ranking, we are proud thatour placement record of 46% ofPhD graduates in ‘Top 50 Schools’puts us as #1 in the world forthis category.The programme runs across theEurope and Asia campuses. Theexchange programme with theWharton School in the UnitedStates adds another option forstudy and collaboration.studentswho came fromas many as30countries.app downloads monthly70,000PhD inManagementFemalerepresentationwas up to41%This outstanding placementrecord, a reflection of the effortsand abilities of our PhD graduates,also speaks to our faculty’scommitment to selecting, teachingand mentoring these students.A Diverse IntellectualCommunityEven though INSEAD is one ofthe largest, most prestigiousbusiness schools in the world, thePhD programme is purposefullykept small, intimate — and highlyFuture ScholarsThe international, cultural andgeographical diversity of our PhDprogramme lends itself to a uniqueinterdisciplinary approach whenit comes to research. Participantsbenefit from our faculty’sinnovative course delivery andpioneering online content. Readiedby our faculty’s close attention,insights and guidance, our PhDstudents go on to become thoughtleaders in business academia.19

Degree ProgrammesINSEAD Annual Report 201620DegreeProgrammesAs widely reported, INSEAD’sMBA, TIEMBA and GEMBAprogrammes were ranked #1by the Financial Times duringthe 2015/2016 academic year.We have received manymessages from proud alumni,recruiters and deans from peerschools congratulating us on thisachievement. It has generated greatinterest from the business press anda surge in applications across ourDegree Programme portfolio.New MBA CurriculumAfter an extensive two-year review,the faculty approved a new MBAcurriculum which will be rolled out inSeptember 2017 for the class of 2018J.As part of this highly innovativecurriculum, we are introducing aPersonal Leadership DevelopmentProgramme. While students buildstrong analytical skills through theirMBA courses, they will also engagein learning experiences thatnecessitate deeper self-reflection.Our goal is that they developlifelong skills that continuallyfuel their talents as they becomeworld-class leaders, managersand entrepreneurs.To strengthen our mission to createresponsible business leaders, wehave adjusted our core curriculumto include a cluster of courses titled“Business and Society”.Students will be assigned personalcareer advisors to guide themthroughout their MBA. Also, theywill participate in a culminatingcapstone project that simulatesa business crisis. To succeed,they will need to draw upon theirstrong analytical skills and insightsfrom their Personal LeadershipDevelopment Programme.Professor Theo Vermaelen teaches"Advanced Corporate Finance" toMaster in Finance participantsTHE VIEWF ROM T H E TOP2016 *PA RT

The Tsinghua-INSEAD EMBA and our Global Executive MBA also soared to the top of the FT rankings in their respective categories during the 2015/2016 academic year. This "triple-first" garnered INSEAD media attention, a surge in applications and wonderful congratulatory messages from around the world. With the MBA Class of July 2016