The 2021 edition of Eduniversal's Business Schools Ranking distinguishes EGADE Business School as the number 1 school in Latin America and the only one in Mexico within the maximum classification of the "5 Palms of Excellence".

By INSTITUTIONAL COMMUNICATION | EGADE BUSINESS SCHOOL

EGADE Business School at Tecnológico de Monterrey has been distinguished as the best business school in Mexico and Latin America for the fourteenth consecutive year, according to the results of the 2021 Eduniversal Business Schools Ranking.

Since 2007, EGADE Business School has been the only business school in Mexico with the highest ranking in the "5 Palms of Excellence", which only recognized the best 100 "Universal Business Schools with strong global influence." Within this select group, EGADE Business School is the first of four schools from Latin America and within the top 30 in the world.

"This achievement is a testament to the dedication, passion, talent, and commitment of our professors and researchers, as well as to the leadership and positive impact of our students and alumni, on business and society. I am grateful to each of the members of our community who made possible this recognition of academic excellence, innovation, and constant transformation of our school over the last 14 years," said Osmar Zavaleta, Interim Dean of EGADE Business School.

The ranking results were announced in the 2021 Eduniversal 3D World Convention, where EGADE Business School again received the 5 Palms of Excellence and the Gold Award of the Top 3 of the Latin American zone corresponding to this year.

The Eduniversal Business Schools Ranking evaluates a selection of the 1,000 best business schools in 154 countries and nine geographical zones, which is produced annually by the Eduniversal International Scientific Committee (ICC).

The results of the 2021 edition for Mexico can be found here, and the list of the Top 3 by geographical zone here.

EDUNIVERSAL 3D WORLD CONVENTION 2021

Within the annual convention held for the second time in virtual format, Ignacio de la Vega, Associate Provost for Academic Affairs, Faculty and Internationalization of the Tecnológico de Monterrey, delivered the keynote "Business Education to Advance Conscious Leadership, Enterprises & Society."

Also, Jaime Martínez Bowness, director of the EGADE Business School site in Mexico City, moderated the panel "Adapting Business Education to Changing Students Preferences & Business Needs", with the participation of Cristina Menchaca, Vice President of Human Resources at Aeroméxico and alumna from the OneMBA program, and Eduardo Aguiñaga, national director of Full-Time Programs at EGADE Business School.

Updated on November 20.

Carlos Scheel and Eduardo Aguiñaga offer the conference “Entrepreneurship in circular economy” in the ninth virtual edition of INCmty.

By INSTITUTIONAL COMMUNICATION | EGADE BUSINESS SCHOOL

The circular economy seeks to generate comprehensive business models that shift away from the paradigm of linear businesses, even the so-called sustainable ones.

This was the explanation given by EGADE Business School professors, Carlos Scheel and Eduardo Aguiñaga, in their conference “Entrepreneurship in circular economy,” during the INCmty 2021 festival.

The circular economy, Aguiñaga said, is about going far beyond the traditional sustainability strategies of companies and governments, to perceive this concept as a business model oriented towards serving three stakeholders: the planet, people and business.

“They have to be inclusive business models for people, in other words with products that are accessible to everyone, while being environmentally responsible and resilient, but without forgetting the economic viability and competitiveness of the business,” explained the National Director of Full-Time Programs at EGADE Business School.

Among the benefits that the implementation of circular economy models can bring to the world, the professors highlighted:

· Generation of 4.8 million net jobs in 2030 (ILO & ECLAC).

· Post-COVID-19 sustainable reconstruction.

· Production of added value through the use of Industry 4.0 technologies.

· 45% reduction of total Greenhouse Gas (GHG) emissions by revaluing waste.

· Savings of 70-90% in new materials used.

Scheel commented that recycling is not circular, but is still a linear model.

“The aim is that a product should never end up as waste, but rather generate added value each time it completes a round in the circular model. To achieve this we must learn to switch from generating products to generating systems,” the emeritus professor added.

The EGADE Business School experts shared four types of circular business models:

1. Business model based on circular product design.

2. Business model based on optimal use.

3. Business models for value and resource recovery.

4. Business models to support circularity.

To explain how to generate a circular model from a linear one, Aguiñaga mentioned the cascading business models, which make it possible to transform one business into several, thereby obtaining multiple cash flows through what was previously waste in the original business.

Scheel brought the talk to an end by listing the four main characteristics of circular entrepreneurs: disruptive innovators, systemic approach, circular economy experts, and generators of nontypical processes.

Fernando Moya offers the conference “Innovation in the development of competencies for entrepreneurs” in the ninth virtual edition of the entrepreneurship festival organized by Tecnológico de Monterrey.

By INSTITUTIONAL COMMUNICATION | EGADE BUSINESS SCHOOL

Innovation in the development of competencies for entrepreneurs was addressed by Fernando Moya, Director of the Department of Entrepreneurship and Technological Innovation at EGADE Business School, during INCmty 2021.

In his conference, the academic addressed the extent to which innovation and entrepreneurship education has evolved in business schools.

He commented that a couple of decades ago there was little knowledge on the subject and the belief was that an entrepreneur and an executive needed similar competencies.

“What we believed before is very different from what we know today, since entrepreneurs and executives in established companies actually live in very different worlds and, hence, need very different competencies and skills," he explained.

Moya mentioned that far from what is usually believed, a startup is not, in fact, yet a company, and therefore an entrepreneur needs to feel very comfortable in turbulent, uncertain, novel and ambiguous (TUNA) environments.

He went on to say that entrepreneurs must be able to navigate uncertainty, seeking opportunities and experimenting with new technologies and business models.

The world of the entrepreneur is uncertain, unchartered, while the world of the executive is the complete opposite - predictable and familiar. Entrepreneurs navigate with new, unknown products, technology, markets, business models, and competitors. Uncertainty can’t be calculated on a spreadsheet,” the professor added.

Therefore, it is currently known that the main competencies entrepreneurs must develop are:

· Be explorers

· Detectives, constantly looking for new evidence.

· Know how to talk to other human beings, to determine whether the value proposal truly resolves a real need.

· Detect problems and needs in their stakeholders.

· Deliver effective presentations to transmit their value proposal.

· Form teams of founders, which are multidisciplinary and can be complemented.

· Resilience, so as not to become frustrated by any inconveniences that occur.

Regarding the question of how to develop this group of very specific skills, the most effective trends are currently based on experimental immersion, which allows entrepreneurs to build their product while socializing it with potential clients, rather than waiting to sell a product until it is perfect and finished. Moya stressed that, precisely, EGADE Business School’s MGMT Business Skills focuses on generating these skills in entrepreneurs by providing basic skills in flexible, short formats.

Of the companies participating in the study, 28% indicated that they invest in foreign startups, 22% have investments in Mexico and Latin America, and another 22% invest in startups in Mexico and the United States.

By  INSTITUTIONAL COMMUNICATION | EGADE BUSINESS SCHOOL

In order to report on the current outlook of Corporate Venture Capital (CVC) in our country, EGADE Business School - Tecnológico de Monterrey, through its Center for Innovation and Entrepreneurship, and the Mexican Association of Private Equity (AMEXCAP) developed a collaborative study on CVC experiences and good practices in Mexico.

This initiative permitted a more in-depth exploration of the characteristics, organizational structure, corporate governance, and strategies and sectors interested in CVC investments in Mexico, thereby generating improved collaboration between the actors of the entrepreneurial ecosystem and promoting a greater professionalization of these activities in our country.

“In developed countries, CVC growth has been surprising. In order to promote a prosperous entrepreneurial ecosystem in Mexico, five well-orchestrated key players are essential: startups, universities, government, investors and corporations,” said Félix Cárdenas, Director of EGADE Business School’s Center for Innovation and Entrepreneurship.

The study included a 34-question survey on the operation and impact of CVC in Mexico, generating descriptive statistics of the 19 corporations that participated in the same. The main findings of this investigation are:

• Most of the participating corporations (19 out of 23) have a specific area for CVC, with a mandate and an assigned structure. Of these units, 89% have between 1 and 10 employees.
   
• Practically all the companies interviewed (89%) seek to attract and support startups of external origin.
   
• 44% of companies in the Mexican ecosystem have financing from a fund of less than $10 million dollars. In addition, 13% of companies in Mexico invest up to $100 million.
   
• 28% of the participating companies indicated that they invested in foreign startups, 22% have investments in Mexico and Latin America, and another 22% invest in Mexican and U.S. startups.
   
• Of the companies surveyed, approximately 29% make 0 to 2 investments per year, 65% 3 to 5 investments per year, and just 6% more than 10 investments per year.

“One of the strategic challenges for many business organizations is how to achieve a permanent capacity for innovation that allows them to renew their product and service portfolio, and adapt their business model in the face of the pressures from a volatile, unpredictable environment. In this regard, the corporate executives interviewed indicated that CVC has a positive impact, both in financial and strategic terms,” commented Liliana Reyes, General Director of AMEXCAP.

Considering that the four fundamental resources of an entrepreneurial ecosystem are talent, capital, ideas, and technology, the EGADE Business School and AMEXCAP study on Corporate Venture Capital in Mexico will promote understanding and interconnection between these components, delving into specific data on CVC operations in Mexico.

The study was presented on November 10 within the framework of the second edition of INC Corporate Venture Capital, a forum organized by AMEXCAP in partnership with Global Corporate Venturing, during Tecnológico de Monterrey’s 2021 INCmty entrepreneurship festival.

You can see the study here: https://egade.csf.itesm.mx/ci/cie/publicaciones.html 

Raj Sisodia, Distinguished Professor, Tec de Monterrey, and Christian Molina, Academic and Research Director, Center for Conscious Enterprise, participate in a fireside chat during INCmty 2021.

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

Conscious enterprises have the power to heal our societies for post-COVID-19 recovery, assured Raj Sisodia, Distinguished University Professor of Conscious Enterprise, and Christian Molina, EGADE Business School Professor, and Academic and Research Director of Tecnológico de Monterrey’s Center for Conscious Enterprise (CEC).

The CEC academics delivered the fireside chat “The Healing Power of the Conscious Enterprise for the Post COVID” within the framework of the ninth virtual edition of  INCmty 2021.

They both recognized the role of conscious companies, organizations with a higher purpose that, apart from generating financial returns, have the capacity to create long-term economic, social, and environmental value, through plans and actions aimed at transforming societies and making them more prosperous.

“To heal, our actions need to prioritize love,” said Sisodia, Co-founder and Global Leader of the Conscious Capitalism movement.

Sisodia explained that, with capitalism and the free market, we have been participants in social progress such as the increase in literacy, the reduction of child mortality, and the decrease in the global population living in extreme poverty.

Nevertheless, he observed that individuals’ psychological suffering has increased, and environmental degradation has multiplied.

Considering that we are currently facing a crisis with more than three heads, including climate change, overproduction and overconsumption, and social polarization, he stressed that our societies’ need to heal now plays a starring role.

Therefore, Sisodia declared, “it is essential that, at the personal, community, national and global levels, people exercise a transformational leadership that is empathetic and conscious.”

Taking into account that the pandemic has been a traumatic experience for humanity, Molina agreed that governments, companies, and individuals are under an obligation to evolve, based on the values of well-being, mindfulness, and happiness.

EGADE Business School professors Carlos Vargas and Alicia Galindo joined the more than 200 speakers in sharing their ideas and experiences at INCmty 2021.

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL 

Key points on sustainable finance and taxes for entrepreneurs were presented by Carlos Vargas and Alicia Galindo, EGADE Business School professors, within the framework of the ninth virtual edition of INCmty.

The academics delivered the conferences “Sustainable Finance 3.0” and “Taxes for Entrepreneurs,” respectively, within the Business Hacks Summit track of the Tecnológico de Monterrey's innovative entrepreneurship festival. 

SUSTAINABLE FINANCE: MAXIMIZING RETURN AND IMPACT

Vargas analyzed the current status of sustainable finance in Mexico and the world.

In the current context defined by the climate emergency and the COVID-19 pandemic, the global financial sector will continue to be indispensable to achieve the United Nations Sustainable Development Goals (SDGs), assured the professor from EGADE Business School's Department of Finance and Economics.

In that sense, he added, impact investing, green bonds, and microfinance are key tools in achieving global climate goals.

Vargas explained that business ventures seeking to contribute to global efforts to mitigate polluting gas emissions should pay special attention to the priorities of sustainable investing, based on environmental, social and corporate governance (ESG) criteria.

TAXES FOR ENTREPRENEURS: BEING COMPLIANT HAS ITS ADVANTAGES

Galindo focused on the benefits of complying with tax obligations and the main challenges in understanding and managing these duties with the Tax Administration Service (SAT), in the Mexican context.

Being tax compliant, he highlighted, has the advantage of facilitating access to bank and institutional financing with better credit conditions, while fomenting the building of strategic alliances with other organizations and promoting transparency, something that is highly valued among clients and consumers.

The EGADE Business School Department of Finance and Economics professor and director of the B.A. in Finance and Accounting program at Tec de Monterrey stressed that

the recent simplification and digitization of SAT procedures has allowed taxpayers to improve their strategic planning regarding tax obligations.

In turn, this has facilitated efficiency in establishing new businesses in Mexico, she said. 

An EGADE - UNC Charlotte MBA in Global Business & Strategy alumna receives recognition for her achievements and promising future in business.

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

Violeta Ramírez, an alumna of the EGADE - UNC Charlotte MBA in Global Business & Strategy dual-degree program, was honored with the Belk College Outstanding Young Alumni Award for her achievements and promising future in business.

This honor is given annually by the business school of the University of North Carolina in Charlotte, within the Belk College Alumni Awards ceremony, streamed on November 3 in its 2021 edition.

As a graduate of the dual-degree program, Ramírez is a graduate of both EGADE Business School at Tecnológico de Monterrey and UNC Charlotte's Belk College of Business.

OUTSTANDING YOUNG STUDENT AWARD

This Belk College award recognizes alumni under 40, demonstrating achievement and showing a promising future in business.

Ramirez is actively engaged as a human resources strategy consultant, business advisor, board member, executive talent lead, and homeschool mom for her 9- and 7-year olds.

The alumna runs a family-owned consulting firm and previously served as the interim CEO and Chief Development Officer for WellMedic Health Centers in Monterrey, Mexico. 

"My MBA degrees have helped me grow in my career. They have given me a broader perspective, greater insight, and the possibility to discover my areas of potential that I hadn't discovered yet," Ramírez said. "I feel deeply honored and grateful to be the recipient of this award. It brings me great joy and a huge sense of responsibility to keep my commitment to do better and to continue growing."

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.