IMD's World Class Admissions Process Identifies Future Business Leaders; With Appeal of Europe's Top Business Schools Growing, IMD Shares What It Looks for in MBA Applicants

Business Wire, Sept 7, 2004

NEW YORK -- Europe's leading business schools are growing in appeal as seen by their increased rankings in US and foreign MBA surveys, but only a small fraction of total US applicants are accepted. IMD, one of the world's top business schools that is recognized by the Association to Advance Collegiate Schools of Business (AACSB) for having one of the most rigorous admissions processes worldwide, says its successful US applicants share common leadership traits that can give them an edge in the admissions process.

IMD accepts only 90 participants for its MBA program each year from a broad selection of applicants -- each of whom must submit GMAT results, 17 essays, three letters of recommendation and participate in an all day, 3-part series of interviews consisting of a personal interview, impromptu presentation and a case study presentation led by an IMD faculty member. Applicants who successfully complete these admission criteria are then "invited" to attend IMD's MBA program, and about 90% of those accept the offer.

Katty Ooms Suter, IMD director of admissions and career services, says that successful US applicants to IMD's MBA program share characteristics that will make them future business leaders:

--Prior business success. All applicants have demonstrated their potential for business success by leading teams and getting results. They also have a track record of taking smart, calculated risks to create success. "A 2002 graduate founded three companies over 11 years in Russia and won a lawsuit against the government," says Ooms Suter. "Clearly she is a passionate entrepreneur and self-starter who is focused on success."

--Willingness to think outside the box. There's general agreement that to lead effectively today and in the future you must be very open to new ways of thinking, learning and exchanging knowledge to fully realize the value that unique perspectives and work practices can contribute toward solving business challenges. "At a former employer an IMD 2004 class member faced an accelerated project deadline reduced from three months to nine days," says Ooms Suter. "He leveraged his company network to secure resources outside his division and assumed a heavy workload himself. Upon the project's successful and timely completion, he gratefully acknowledged the entire group via email, copying the company's president. He demonstrated his ability to get results by taking an unconventional approach as circumstances warranted."

--A burning desire to lead. Successful IMD MBA applicants have demonstrated leadership by assuming increasing levels of responsibility in a company or in extracurricular activities. "A Lieutenant Commander Navy SEAL in IMD's 2004 class has led dozens of multicultural teams in extremely tough environments and now aspires to become a leader in NATO or the UN, bridging US and EU differences," says Ooms Suter.

--Clear view of career goals. More US MBA applicants say their future business success now requires a global perspective and the ability to manage teams of professionals of different nationalities and distinct work styles. They understand exactly how an international business degree will further their business career. "IMD's 2004 class has a management consultant with expertise in renewable energy and advanced technology who defines his career success as making a lasting contribution to an organization and to society as a whole," says Ooms Suter.

--Prior international work experience or interest. Successful MBA applicants are passionate about international business. Many speak more than one language, have worked abroad or can effectively demonstrate their international curiosity. "A 2003 IMD MBA graduate who speaks eight languages and has 10 years of business experience in Western Europe, Russia and Latin America is now using his international experience to build a microfinance business in Argentina," cites Ooms Suter.

"Our goal is to create leaders, not managers, by giving them the skills to learn, adapt and perform effectively in the business world. Albeit counter-intuitive, we find our most impressive MBA candidates are those who can easily admit to mistakes they've made at some point in business," said Ooms Suter. "It's critical that future business leaders have the ability to adjust their way of thinking, be open-minded and positive and recognize the value of teamwork and diversity."

About The IMD MBA Program

IMD, one of the world's top ranked international business schools, is based in Lausanne, Switzerland. IMD's unique Real World, Real Learning(R) instructional approach prepares its MBA participants for future business success. IMD's state-of-the-art learning facilities and market-driven faculty provide MBA participants the necessary speed and intellectual rigor to address complex business and management issues. IMD is the "global meeting place" for leadership and has more than 50,000 alumni in over 140 countries. Visit www.imd.ch/mba.

IMD MBA faculty are available as news sources on topics relating to business, diversity, entrepreneurial ventures and leadership development. Contact Al Leach to arrange an interview.