Update
HBS
Expands Global Presence
Egawa
Heads New Research Office in Japan
Europe
Business Conference Forecasts the Future
New
Porter Prize Awarded in Japan
Springboard
Boosts Funding Prospects for Women Entrepreneurs
TIME
OUT – Mary Quin: A Life-Changing Story
Health
Industry Alumni Convene for Conference
Design
Fair
Former
Bulletin Editor Remembered
HBS Expands Global Presence
Following
the successful launch of research centers in Silicon Valley, Hong
Kong, and Buenos Aires, HBS has opened the European
Research Center (ERC) in Paris. With Vincent Dessain (MBA
’87) serving as executive director, the ERC will continue
the School’s initiative to increase the diversity, impact,
and visibility of HBS international research efforts. Dessain,
who speaks five languages, has extensive experience in business
and higher education throughout Europe, most recently as a senior
director in charge of managing corporate relationships at INSEAD.
“One of the most important issues for an academic institution,
and a business school in particular, is to be at a state-of-the-art
level in research and case writing,” notes Dessain, who visited
the HBS campus in November. “In order to achieve that level
of excellence, it’s essential to support faculty in creating
intellectual capital, particularly when that work involves an
international dimension. We want the ERC to provide a complete
infrastructure for faculty so that they can develop cases in the
most favorable conditions possible.”
HBS professor Dwight B. Crane, chair of the European Research
Initiative, highlighted some of the region’s business issues
and the research opportunities they present. “The integration
of Europe is leading companies to devote more attention to their
pan-European strategy,” says Crane. “Cross-border mergers,
for example, have increased significantly within Europe, and firms
are grappling with the need to integrate multiple cultures in
their management structure. The introduction of the Euro has also
had a strong impact both on corporate finance and, not surprisingly,
on the strategy of banking institutions.” Comparing business
differences across regions can also be instructive, Crane adds.
“In the telecommunications arena, for instance, the European
market is more focused on wireless devices than is the case in
the United States, so the technology industry is evolving in distinct
ways.”
The ERC’s development of research and case-writing opportunities
at a wide range of organizations and across a broad geographical
area will further strengthen the depth and diversity of the HBS
curriculum, says Dessain, who is eager to work with the School’s
faculty. “When I studied at HBS, I enjoyed the wonderful
relationships I had with my classmates, of course, but also with
many of my professors,” he remarks. “To have the opportunity
to work with them to enrich the School’s case studies and
course development is a challenge I look forward to very much.”
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Egawa Heads New Research Office in Japan
In
an effort to expand the reach of its Asia-Pacific Research Center,
HBS has opened a satellite office in Japan. Masako Egawa (MBA
’86) has been named executive director of the Japan Research
Office in Tokyo. Formerly an executive director in charge of the
transport and services sector at UBS Warburg, Egawa has also worked
for Salomon Brothers in New York and Tokyo.
“Although Japan has experienced major economic problems since
the 1990s, it is still a significant economy, and many Japanese
companies are major global players,” Egawa comments. She
notes that concepts that brought success to the country in the
1970s and 1980s — ideas such as lifetime employment, cross-shareholding,
and keiretsu (Japanese corporate groupings) — are currently
undergoing fundamental changes and offer fascinating research
possibilities. With the globalization of Japan’s economy
and structural changes in the country’s political and social
environment, there are ongoing discussions as to whether Japan
will adopt U.S. business practices or maintain its own distinctive
outlook. “This debate is relevant to key management issues,
including corporate governance, restructuring, leadership, and
the role of entrepreneurs,” Egawa says. “We need to
look at what’s really happening on-site and understand what
it means.”
During a two-week visit to the HBS campus in November, Egawa met
with over sixty faculty members and senior administrators in order
to be updated on the School’s current research and course
development initiatives. She expects to work closely with Camille
Tang Yeh (MBA ’80), executive director of the Asia-Pacific
Research Center in Hong Kong, because of the close economic ties
between Japan and the rest of Asia.
Egawa recalls many good memories of her days as an MBA student
and is delighted to be taking an active part in the HBS community.
“It’s very refreshing to come back to the campus and
see the progress the School is making in developing leading-edge
research,” she says. “I look forward to my part in building
bridges between the academic and business communities in the United
States and Japan.”
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Europe Business Conference Forecasts the Future
Building
on the success of last year’s inaugural conference, the HBS
European Club hosted the second annual Europe Business Conference
on the HBS campus November 2–3. The event included some 50
panelists and speakers and drew over 350 participants from HBS
and other graduate schools around the country.
Guillaume Hannezo, CFO and senior EVP at Vivendi Universal, delivered
the opening keynote address on Saturday morning. Suggesting that
the events of September 11 have created a new collective reality
for the United States and Europe, Hannezo noted, “Part of
being European is living with the memory of war on one’s
home soil. We know how tragic history can be, and we understand
the fragility of society.”
A native of France who relocated to New York last summer, Hannezo
recalled John F. Kennedy’s famous declaration, “Ich
bin ein Berliner.” Today, he observed, every European feels
a bit like a New Yorker. In the business world, Hannezo predicted
that synergies will continue to develop between Europe and the
United States, thanks to a shared system of values and a wealth
of talent on both sides of the Atlantic. “Together, we will
succeed in enhancing the expansion of trade and economic freedom
that will favor universal growth and prosperity in a more diverse,
open world,”
he concluded.
Panels held throughout the day included “Consulting in a
Bear Market,” “Opportunities in Eastern Europe,”
and “Managing Brands across Multiple European Markets.”
Students were given the opportunity to meet with panelists one-on-one
and could also attend a career workshop, hosted by Juergen Bracht
of Frankfurt-based GRIP Personal Consulting, on the status of
the European job market.
Bert W.M. Twaalfhoven (MBA ’54), founder and president of
the Dutch holding company Indivers B.V., delivered a high-spirited
address at the conference’s conclusion. An entrepreneur responsible
for starting fifty companies in ten countries, Twaalfhoven passed
along his perspective on a number of topics, including the economic
performance of Central and Eastern Europe. “The remarkable
thing is that they have been forced to innovate in order to survive,”
he remarked. “The entrepreneurial spirit in Central and Eastern
Europe is much higher than in Western Europe, because we still
believe in British Telecom and Philips and Unilever.” Twaalfhoven
closed by reminding students why it’s important to try, try
again. “The Chinese say, ‘Failure is the basis for future
success.’ I’d like to hire you if you’ve had a
failure, and you realize what the reason for that failure was.”
Cochairs Peter Everett and Marijana Kolak (both HBS ’02)
thanked the thirty student organizers and corporate sponsors who
made the conference a success. “In just its second year,
the conference has grown to be the largest event of its kind in
the United States,” said Everett. “We’ve really
benefited from the work of some amazing classmates, as well as
fantastic support from HBS alumni around Europe. We’re confident
that the conference has the momentum to become an even bigger
and more remarkable event next year.”
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New Porter Prize Awarded in Japan
On December 6, four firms became the first recipients
of the Porter Prize, a new award that recognizes innovation in
Japanese companies. Matsui Securities Co., Ltd., and Mabuchi Motor
Co., Ltd., were named the winners in the single-business company
category, while the Lens Product Group of Canon Inc. and the Eye
Care Company of Hoya Corporation placed first in the multibusiness
company business-unit category. Established by the Graduate School
of International Corporate Strategy at Hitotsubashi University
and sponsored by the Daiwa Institute of Research and Accenture
Corporation, the prize honors and highlights companies that have
maintained superior profitability by implementing unique strategies
based on innovation in products, processes, and management techniques.
Matsui Securities was chosen for its ability to define “jobs
not to do” in its business strategy, while Mabuchi won for
specializing in small direct-current motors, a strategy that has
garnered it 50 percent or higher world market share for several
decades. Canon’s Lens Product Group was recognized for continuous
technological innovation. Hoya Corporation’s Eye Care Company,
which produces highly refractive plastic lenses, received the
prize because of its ability to achieve high profitability while
stressing customization.
The award is named for Michael
E. Porter, the Bishop William Lawrence University Professor
at Harvard and a renowned expert on competitive strategy and international
competitiveness. Winners are selected by a committee made up of
Japanese academics with expertise in competitive strategy from
institutions such as Keio University, Kobe University, Tokyo University,
and Hitotsubashi University. Prize winners gain public recognition
as industry leaders and become the focus of a case study series
that will be published in Hitotsubashi Business Review and other
periodicals.
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Springboard Boosts Funding Prospects for Women Entrepreneurs
According
to a recent study by the venture capital research firm VentureOne,
even in average economic times, women CEOs typically receive just
6 percent of the $69 billion available
in venture capital in the United States. In an effort to improve
the odds, women representing 23 companies took the podium at HBS
on November 9 during the Springboard: New England 2001 venture
capital forum to pitch their businesses to some 200 investors
in the audience.
Organized by the Washington, D.C.– based nonprofit Springboard
Enterprises and Boston’s Center for Women & Enterprise,
the event was the seventh in a nationwide series. Presenters were
seeking capital in the $1 million to $15 million range for companies
involved in software, life sciences, business products and services,
information services, information technology, and consumer products.
The entrepreneurs were chosen from a pool of 150 applicants by
a committee of top venture capitalists and business leaders from
around New England.
In opening remarks, HBS Dean Kim B. Clark said entrepreneurship
has become not only a tremendous engine of growth in the United
States but also a critically important style of managing. “I
want to salute those of you who are here making presentations
today and trying to build companies,” he said. “We need
people with that kind of courage and vision.” HBS senior
lecturer Robert F. Higgins, who is also founder and managing general
partner of Highland Capital Partners in Boston, told the group,
“This is about making money and investing, but it’s
also about entrepreneurship. Having half of our society somewhat
inhibited in their access to capital is a bad thing.” Higgins
cochaired the forum with HBS professor Myra M. Hart.
With venture funding exceedingly hard to come by in recent months,
it’s too soon to tell how the entrepreneurs fared financially
as a result of the event. But Andrea C. Silbert (MBA ’92),
founder and CEO of the Center for Women & Enterprise, noted
that 90 percent of the companies that participated in last year’s
New England forum are still in business — remarkable news
given that quite a few were dot-coms. “The participants selected
for this year’s Springboard forum represent some of the best
talent in the New England entrepreneurial community,” Silbert
noted. All told, entrepreneurs at the past six nationwide forums
have raised over $600 million for seed, first-, or later-round
investment capital.
Adapted from an article posted on the HBS Working Knowledge
portal. Visit www.workingknowledge.hbs.edu
for more coverage.
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