The Governor of Banco de México delivered a conference and participated in a panel during an event organized by EGADE Business School and the Undergraduate Business School at Tec de Monterrey. 

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

The economic and financial effects of the shocks stemming from COVID-19 have been significant and markedly different from those corresponding to previous crises or recessions, according to the governor of Banco de México, Alejandro Díaz de León.

"In 2021, the pandemic has implied challenges that were different from those faced in 2020," he said.

The central banker delivered the keynote address "National Economic Forecast" on October 28, at a summit for Tec21 Model formative partners in Querétaro, organized by EGADE Business School and the Undergraduate Business School at Tecnológico de Monterrey School of Business.

Díaz de León went on to explain that, owing to the pandemic, the global economy progressed from the total and partial closure of activities to a scenario of vigorous expansion of spending and a shift from spending on the consumption of services towards goods, especially in advanced economies.

"This has produced major bottlenecks in production and inflationary pressures worldwide. These are transferred to internal inflation through increases in the prices of tradable goods and diverse costs of production, transportation, and distribution inputs," he commented.

Regarding the challenges of the current circumstances, he stressed that a global environment of higher growth and inflationary pressures has been consolidated in the past few months.

"While these are expected to be transitory, they pose greater risks to price formation, especially in emerging economies," he said.

Among the final considerations of his conference, the head of Banxico emphasized the following:

• Global risks include those associated with the pandemic, inflationary pressures, and monetary and financial conditions adjustments.
• Even though the shocks that have affected inflation are expected to be transitory, given the diversity, magnitude, and extended horizon of such effect, they may imply a risk for price formation and inflation expectations.
• The Governing Board will determine a monetary stance that is at all times consistent with the orderly and sustained convergence of inflation to the target of 3% in the period in which the monetary policy operates, fostering a suitable adjustment of the economy and financial markets.
• The need to reinforce institutional and structural elements that influence capital accumulation and productivity.

After his conference, Díaz de León participated in a panel with Paulina Campos Villaseñor, Vice-President of Integrity and Compliance at Tec de Monterrey, and Carlos Rodrigo Lever Guzmán, Dean of the Mexico City Region of the School of Social Sciences and Government. 

QUERÉTARO FORMATIVE PARTNERS SUMMIT

The summit, which took place virtually, started with messages from Mauricio Kuri González, Governor of the State of Querétaro; Pascual Alcocer Alcocer, Vice-President of the Central-Southern Region and General Director of Campus Querétaro, Tecnológico de Monterrey, and Osmar Zavaleta Vázquez, Interim Dean of EGADE Business School.

Apart from the conference and panel offered by Díaz de León, the event included a panel for formative partners, with the participation of Guillermo Stankiewicz, CEO of Fiesta Americana Puebla; Johanna Flórez Restrepo, Talent Acquisition Manager at Quala México; Eduardo Moreno Yta, CEO of Mexican Honey & Bee Company; and Leticia Treviño Prado, Coordinating Manager at AlphaCare.

In addition, the Tec21 Model formative partners received awards during the closure, led by Jaime Martínez Bowness, Director of EGADE Business School, Mexico City site. Watch the initial messages and the address and panel offered by Díaz de León here.

National President of Coparmex delivers the inaugural address at the CLADEA 2021 Virtual International Congress, co-organized by EGADE Business School - Tecnológico de Monterrey and held from October 25 to 27. 

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

The 8.3% decline in Mexico’s economy in 2020, double that of countries with similar economies, such as Chile and Brazil, is the result of the COVID-19 crisis and a decision by the Mexican Government not to inject resources to reactivate the economy, claimed José Medina Mora, National President of the Confederation of Employers of the Mexican Republic (Coparmex).

The business leader delivered the inaugural address at the CLADEA 2021 Virtual International Congress, co-organized by EGADE Business School - Tecnológico de Monterrey and held from October 25 to 27 with the theme “Innovation, conscious business and the future of education.”

During the pandemic, Medina Mora pointed out, in Mexico more than 1,100,000 formal jobs were lost, representing 5% of the same, and over a million companies have disappeared, particularly micro and small enterprise.

“However, averages don’t help us understand what happened and which challenges we are facing in companies,” he said.

Responding with innovation is the main challenge that organizations will be facing, Medina Mora explained.

“Technology and virtuality have changed the way in which people and companies interact. An enormous challenge for us is how we capitalize on the advantages produced by the pandemic,” he added.

Apart from Medina Mora, others present at the opening ceremony were Osmar Zavaleta, Interim Dean of EGADE Business School; Raúl Montalvo, Director of EGADE Business School, Guadalajara site; Andrés Toledo, President of the Steering Committee 2019-2021, CLADEA; and Manuel Ortiz de Zevallos, Executive Director of CLADEA.

INNOVATION, CONSCIOUS BUSINESS AND THE FUTURE OF EDUCATION

The congress brought together around 700 academic leaders, educators, researchers, and doctoral students from around the globe in plenary sessions, conferences, panels, workshops, scientific paper presentations, and social activities.

The event closed with a traditional mariachi serenata, representative of Jalisco, the state where EGADE Business School’s Guadalajara site is located.

CLADEA is an international network that brings together higher education institutions and organizations committed to management education and research.

At present, CLADEA has 237 member institutions, both private and public, from 30 countries in America, Europe, and Oceania. EGADE Business School is a member of CLADEA

Guests included directors from Grupo Walmex, Business Transformation Consortium, Fideicomiso de Turismo de Los Cabos, and EGADE Business School.

By VALENTINA FLORES CÁCERES | EGADE BUSINESS SCHOOL

Entrepreneurship with emerging technologies, the future of retail, sustainable tourism, and transformation in organizations were the topics addressed by Business Territory, the podcast of EGADE Business School and the Undergraduate Business School of Tecnológico de Monterrey in October.

In case you missed them, here are the four episodes:

Episode 50: Entrepreneurship with emerging technologies

Pedro Carreón, Director of the EGADE MBA Online and the EGADE MBA in Guadalajara, analyzes the challenges and opportunities for entrepreneurs and innovative startups to understand the new problems, needs, and aspirations of their customers and develop new products and value offers based on Artificial Intelligence, Blockchain, or Big Data. 

Episode 51: The future of large retailers

The most innovative retailers have begun to assume that technology is not just a complement but has also become a crucial part of the buying experience. Erika Falfán Mayer, Vice-President of Centralized Operations for Mexico at Grupo Walmex, describes organizations' challenges when serving a hyperconnected and informed consumer. 

Episode 52: Tourism, a sustainable recovery?

After the coronavirus crisis, tourism is back, but doubts have emerged about the sustainability of business models of the past. Rodrigo Esponda, Director of Fideicomiso de Turismo de Los Cabos, and Orla Branigan, Director of Marketing, Communication, and Student and Alumni Relations at EGADE Business School, analyze the growth of sustainable tourism and other impactful trends in Mexico.

Episode 53: Transformation in organizations, permanent evolution?

Miguel Galván, CEO of Business Transformation Consortium (BTC), and Juan Antonio Enciso, Director of the Global OneMBA Program at EGADE Business School, discuss the challenges for CEOs in developing a holistic transformation process in their organizations.

Territorio Negocios is part of the Tec Sounds podcasts and is available on Spotify, Amazon Music, Apple Podcasts, and Google Podcasts.

Listen to a new episode every Tuesday!

The flexibility of the program allows executives and entrepreneurs to consolidate, at their own pace, practical, immediately applicable knowledge, focusing on four core themes to grow in the world of business.

By COMUNICACIÓN INSTITUCIONAL | EGADE BUSINESS SCHOOL

To help executives and entrepreneurs anywhere in the world consolidate their skills, at their own pace, to navigate the new business reality successfully, EGADE Business School at Tecnológico de Monterrey has developed MGMT Business Skills.

The new 100% online program forms part of EGADE Business School's Executive Education program portfolio, offering time optimization through flexibility and providing practical, immediately applicable knowledge to grow in the world of business.

MGMT Business Skills allows businesspeople to combine their education with commitments in their organizations or enterprises through up-to-date content taught by EGADE Business School professors as well as guest business leaders, covering four thematic areas:

· Leadership

· Business Vision

· Innovation and Entrepreneurship

· Exponential Technologies

"As resources to progress in business, adaptability and time are two fundamental elements. Therefore, at EGADE Business School, we designed MGMT Business Skills so that participants can tailor it to fit their needs. The program offers practical, applicable knowledge in an asynchronous, digital format, enabling participants to climb in their business structure or grow their firms," explained Jaime García Narro, Associate Dean of Executive Education at EGADE Business School.

The program is comprised of brief, optimized content in diverse rapid, user-friendly formats, such as videos, readings, and podcasts.

The six-month MGMT Business Skills program is taught in Spanish. Thanks to its flexibility, it can be personalized to the extent that participants choose 50% of the topics according to their interests. Read more information about the program here. 

Professor will be collaborating for one year in research on innovation at the bottom of the pyramid at Judge Business School, University of Cambridge.

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

Cristian Granados Sánchez, professor in the Department of Entrepreneurship and Technological Innovation at EGADE Business School, is carrying out a postdoctoral research associateship at Cambridge Judge Business School.

Starting in October, the researcher will be serving as a Postdoctoral Research Associate for one year, collaborating with Professor Jaideep Prabhu.

"I will be collaborating with Dr. Prabhu in a research project on frugal innovation or innovation at the bottom of the pyramid," Granados stated.

While at Cambridge, the professor will continue to teach his innovation and entrepreneurship classes at EGADE Business School remotely. 

The President of the Business Coordinating Council (CCE for its initials in Spanish) offers a keynote speech at the EGADE Business Summit Guadalajara 2021, where academic and business leaders also analyze digital transformation, innovation, and entrepreneurship.  

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

Leveraged by a broad community commitment, quality education is the way for our societies to overcome the significant challenges we face, ranging from growing economic gaps to immense pressure on the environment.

These were the words of Carlos Salazar Lomelín, President of the Business Coordinating Council (CCE for its initials in Spanish), yesterday at a keynote speech within the EGADE Business Summit Guadalajara 2021.

At the virtual event by EGADE Business School, Guadalajara site, academic and business leaders shared their vision of the business environment in Jalisco and the Western region, around the challenges and opportunities of Mexico's business sector, digital transformation, innovation, and entrepreneurship. 

"We need to be more aware, but, above all, more accountable for our civic duty to take care of not only our interests but also those of society as a whole, to take charge of solving the problems that trouble us, based on social entrepreneurship and education, which is the key transformational element of public life in our country," urged Salazar, who is also President of the Tecnológico de Monterrey School of Business and one of the 25 Most Influential Leaders of 2021 according to AACSB.

COMPANIES MUST ADAPT THEIR BUSINESS MODELS TO DISRUPTION AND CONSTANT INNOVATION: OSMAR ZAVALETA

In his inaugural address, Osmar Zavaleta, Interim Dean of EGADE Business School, commented that 2020 began with a poor outlook for Mexico, given that 2019 went down in history as a year without growth, largely due to the climate of uncertainty generated in the country, coupled with a significant decrease in national and foreign investment.

"On top of this, as a result of the Covid-19 pandemic, in March 2020 we implemented lockdowns and the closure of non-essential businesses in the country, which, in addition to the obvious health problems, caused an 8.5% drop in the GDP 2020, according to INEGI," he said. 

He also remarked that even though there seem to be signs of recovery in 2021, the challenges are still significant.

"Given everything we have experienced over the past 19 months, I am convinced that the capacity to adapt is one of the most important lessons we have learned, since as organizations and individuals we have to adapt to increasingly volatile, uncertain, complex and ambiguous events by redefining our vision and strategy to face challenges and capitalize on the opportunities this situation has brought us. If this crisis has taught us anything, it is that companies need to adapt their business models to disruption and constant innovation, and new forms of work and consumption, with their technological, logistical, and productivity implications," Zavaleta concluded.

DIGITAL TRANSFORMATION, INNOVATION, AND ENTREPRENEURSHIP

To explore the positive impact that companies in Jalisco and the Western region have on the country's transformation, growth, and development, the event included two discussion panels with academic and business leaders, who shared their perspectives on the business environment.

One panel was called "Digital transformation and the information era ," with the participation of Silvia Ariza, Data Science Manager, and David Ruiz, Analytics, Big Data & Artificial Intelligence Lead at Google Cloud, and moderated by Raúl Montalvo, Director of EGADE Business School, Guadalajara site.

Meanwhile, in the second panel, "Innovation and entrepreneurship," Luis Armando Gómez, Founder Vid Mexicana, and Francisco Hernández, Founder and CEO of SOFIPA, were the guest's panelists, and Fernando Moya, Director of the EGADE Business School Department of Entrepreneurship and Technological Innovation, the moderator. 

Relive the EGADE Business Summit Guadalajara 2021 in full here.

José Ernesto Amorós, National Director of EGADE Business School's Doctoral Programs, is one of the authors of a report on challenges and opportunities for the economic reactivation of MSMEs.

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL 

Mexico is one of the world's 20 most expensive countries for business incorporation, mainly because of notary and registration costs.

In 2020, the nation's MSMEs could have invested up to 1,370 million pesos in mitigating the crisis instead of in incorporation procedures.

This is revealed in the report "Challenges and opportunities for the incorporation of companies in Mexico. An analysis of commercial companies," recently published in the framework of the project "Economic reactivation of MSMEs in Mexico through fiscal policies and the simplification of procedures for the incorporation of companies."

This study was prepared by Tecnológico de Monterrey, with the support of the Friedrich Naumann Foundation for Freedom and in collaboration with the Association of Entrepreneurs of Mexico (ASEM).

The authors are José Ernesto Amorós, Research Professor and National Director of EGADE Business School's Doctoral Programs; Catalina Camarillo Rosas and Elvira Naranjo, Professors at the School of Social Sciences and Government, Tecnológico de Monterrey; and Germán García Fabregat Esquivel, Professor at Tecnológico de Monterrey's School of Business.

Amorós indicated that the objective of the report is to provide technical information on simplifying procedures and reducing costs to set up companies, with an emphasis on commercial companies.

Specifically, the authors focused on Simplified Stock Companies (SAS), since setting up this type of commercial company offers a viable but perfectible mechanism to achieve more significant simplification.

The analysis identified that, in 2020, before the total or partial closing of public and private procedures, 29% fewer Public Limited Companies (SA) were created in Mexico compared to 2019, which reinforces the importance of digitizing the incorporation process.

Although it is currently possible to set up a SAS online at no cost, the study found that 41% of the entrepreneurs consulted did not incorporate their company as a SAS because they did not know that this type of commercial company existed and 35% because it was not suitable for the profile of their company's activities.

Additionally, those who did constitute a SAS pointed out the following main disadvantages:

· Banks' and other entities' ignorance of the mercantile company (31%).

· Operational problems with the Ministry of Economy's digital platform where SASs are created (27%).

· Little flexibility and compatibility with other types of companies (21%).

The document concludes with specific actions to improve the creation of a SAS that would in turn lead to more significant simplification in the incorporation of other commercial companies.

You can download the full report here.

The list recognizes prominent figures from different industries who generate value in their sectors and contribute from their arenas to propelling the region into recovery and back to normalcy. 

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

Three graduates of EGADE Business School at Tecnológico de Monterrey are on the Bloomberg Línea “Latin America’s 500.” 

In its first edition, the list comprises the most prominent figures in different industries whose influence creates a recognizable impact in the region, according to the financial and business content platform. 

The selection involved editorial teams from each of the countries in which Bloomberg Línea is present, including Argentina, Brazil, Chile, Colombia, the United States, Mexico, Panama, Peru, and Venezuela.

The EGADE Business School alumni are: 

José Antonio Fernández Carbajal
Master in Administration graduate
CEO and Chairman of the Board of Directors of FEMSA and Chairman of the Board of Coca-Cola FEMSA

Juan Francisco Beckmann Vidal
Master in Administration graduate
Chairman of the Board of Grupo José Cuervo

Silvia Dávila Kreimerman
Master in Business Economics graduate 
Regional President for Latin America of Grupo Danone