Interview with Omar Toulan of IMD
The International Institute for Management Development (IMD) is in first place in Bloomberg Businessweek’s 2024 ranking of European MBA Programs. In this interview with EBR, Omar Toulan, IMD´s MBA Dean, discusses the school´s focus on developing impactful leaders, its dedication to students’ post-MBA success, and its integration of AI in teaching functional business skills and transversal skills.
Good day, Prof. Omar! Thank you for taking the time to speak with us today, especially given your demanding schedule. Congratulations on IMD once again topping the Bloomberg Business School rankings this year! What would you say distinguishes your program from other leading global MBA programs?
Firstly, IMD as an institution is a unique place, founded by business leaders for business leaders. We maintain our close ties to business thanks to our executive programs and advisory work, and our faculty brings that real-world knowledge and experience into the MBA program. So we’re able to adapt it to what the market demands and what recruiters are looking for, keeping it not just current, but future-oriented.
At the core of IMD and the MBA program is our focus on developing leaders who will have an impact. We were one of the first schools to introduce personal coaches 40 years ago. The leadership stream is what really brands IMD.
One of the other things that sets the MBA program apart is our focus on experiential learning, which accounts for approximately 40% of the curriculum. This hands-on approach to learning includes international consulting projects, start-up projects, optional internships, and a new Future Lab module with direct industry interaction. In this way, our students apply what they’re learning, bridging theory with practice.
With next year’s redesign, I am also very excited about our focus on skills-based learning, which is something I think is extremely unique and different from other programs. Skills-based learning ensures our graduates not only excel in the classical functional areas of business but also possess the critical problem-solving and communication skills to adapt to the changing business world.
IMD’s MBA is structured as an intensive 12-month program. What do you see as the main advantages of this shorter format, and how do you support students in maintaining a balance between these rigorous academics and their personal growth?
The leadership focus of the program provides the students with the opportunity to self-reflect in a way traditional programs do not.
A 12-month program brings with it the advantage of being out of the job market for only 1 vs 2 years. That being said, it’s a very intense experience, both academically and personally. The leadership focus of the program, however, provides the students with the opportunity to self-reflect in a way traditional programs do not. Aside from having their own leadership coach, the program also offers 20 hours of psychoanalysis sessions focused on personal development. Students are encouraged to reflect on bigger issues such as: What is really important to them? What kind of environment do they excel most in? Etc.
The program is known for its strong focus on real-world applications. How do you ensure that graduates are equipped to tackle the ever-evolving business challenges they will face in today’s environment?
The world that graduates face today is far more turbulent than 10 or 15 years ago, and evolving at a faster pace. This requires graduates to be agile and adaptable. One of the ways we’re helping our students to prepare for this reality is by not only focusing on functional business skills but also the transversal skills that can be applied across industries and domains. We’ve identified 10 such transversal skills that we think will be essential for students to master in order for them to be prepared for the ever-evolving business challenges of the future:
- Systems thinking
- Structured problem solving
- Pattern recognition
- Decision making
- Visioning and scenario planning
- Divergent and convergent thinking
- Quantifying strategies
- Storyboarding and storytelling
- Asking good questions
- Strategic presence and presentation
Through a variety of tracking mechanisms, some using AI, we will be able to give students feedback on these skills throughout the year based on existing and additional course material. We want to ensure that students cannot hide in the shadows of a group project without developing these fundamental skills for themselves. By tracking them throughout the curriculum, we’ll be able to identify issues early on and help the student take corrective measures to improve.
Your updated future-oriented MBA curriculum blends renowned leadership development with cutting-edge AI technology and hands-on experiential learning. Can you walk us through how these elements are practically integrated into the program?
As you know, IMD is known for its focus on leadership and all the trainings that go with it. It is the only stream that starts the first week of school and ends the last week. To be an effective leader, however, one must first be able to solve the problem or challenge at hand. As such, the new program has a heightened emphasis on problem solving, as is reflected in the 10 transversal skills described above. The program now kicks off with a new 10-day module on Strategic Thinking and Communication in which these skills are introduced. It will be led by myself, Arnaud Chevallier and one of our most renowned professors Michael Watkins (from The First 90 Days fame). These skills will then be reinforced throughout the year.
AI is embedded in the curriculum both as a topic and as a tool for learning. On the one hand, the tool, our own IMD GPT, will provide students with continuous access to all of IMD’s proprietary knowledge, whether it’s case materials, readings, articles, faculty research, etc., as well as access to the wider internet, so students can ask questions and receive customized responses 24/7 that are most relevant to their own needs, interests and situations; for example: applying a concept from a class discussion to their specific industry. It’s like always having a personal tutor available!
Students also need to learn how to make the most of the tool, which leads me back to the transversal skills I mentioned earlier, such as asking good questions, critically assessing the answer, and drawing the right inferences to formulate effective strategies. As leaders, they will face the challenge of making tough decisions in a data-intensive environment and grappling with the vast amount of information accelerated by Gen AI. Our approach prepares graduates to diagnose problems, critically assess them, come up with recommendations, and succeed in an AI-intensive world.
Students can ask questions and receive customized responses 24/7 that are most relevant to their own needs, interests and situations.
At the same time, we’re placing a greater focus on the human quality of leadership. Leadership has always been at the core of IMD, and while AI may be able to replace certain tasks, given the plethora of information and potential that it provides, leadership becomes even more important. An effective leader is someone who can make difficult decisions, and then get others to follow that decision. So the skills we’re focusing on are, firstly, to help students make those decisions, and secondly, to improve their ability to communicate and effectively implement that decision.
Beyond AI, could you share some other key updates and innovations for the upcoming relaunch? How will these changes enhance the overall student experience?
One key change is the introduction of the Future Lab, a one-month residency module in Singapore, which is an excellent destination for our students on many levels: as a gateway to Asia, a crossroad of cultures, and a technology hub for both the private and public sectors. During this immersive experience, we’ll focus on topics such as AI, digital transformation, and digital analytics, and do a deep dive into the power of technology. Singapore is consistently ranked one of the top countries in the world in terms of government infrastructure and innovation, so it’s a great test site to explore the synergies between the public and private sectors and see how the government can leverage technology for the betterment of society.
Another change is giving the students a choice between electives to customize their learning journey, or a summer internship for additional real-world experience. This option serves as an additional practical bridge to the professional world and helps them to be even better prepared for the job market. To further enhance the career experience, the program also now kicks off with an intense week of career training in January.
The Career Development Center (CDC) is critical in shaping students’ futures. Can you delve into the personalized career services IMD offers and how these services contribute to the post-MBA success of your graduates?
One of the key advantages of having a highly selective small cohort is that our CDC can acquaint themselves with each individual. This starts during the admissions process, with our CDC being involved in discussing student career aspirations and identifying individual challenges before students arrive on campus. Once here, students are assigned an initial coach, and during the program, an alumni mentor specific to their preferred employment outcome.
With an emphasis on personalized coaching and career counseling, how does IMD support students in crafting unique, individualized career strategies?
For us, each student journey is unique with individual opportunities and challenges. We ensure resources are in place to provide the support each student needs, complementing our in-house resources with external insight and expertise where required. As the majority of our students are competing for senior roles in the lateral hiring market, we tailor our offer to their bespoke needs.
IMD provides students with various global opportunities, including the immersive month at the Future Lab in Singapore. Could you elaborate on the significance of this experience and how it prepares students for global careers?
The immersive 1-month Future Lab in Singapore will help students expand their global awareness and deepen their understanding of how technology is changing how we do business. Aside from courses on AI, Digital Transformation, and Ecosystems, students will also engage with companies in one of the world’s most innovative technology hubs. They will experience firsthand how the private and public sectors can work together to the benefit of both. Thanks to IMD’s extensive alumni network in the region, students will be able to meet business leaders and visit leading global companies to see how technology is transforming business and society.
On the topic of opportunities, how do IMD’s extensive alumni network and global partnerships contribute to students’ career development and support their goals?
Our alumni are highly supportive of our students as they remember how alumni once helped them. The community is passionate about helping one another. Alumni are involved in 1:1 mentoring, alumni talks and panels, referring students within their organizations and, of course, identifying career opportunities. The cohesiveness of the students while they are here translates into a very engaged alumni community. I went to big US schools for my education where at our reunions we would receive 20-30% of students coming back. For us, it is not uncommon to have 50-60% of the class return.
What advice would you give to prospective students who are evaluating whether the IMD MBA is the right fit for them?
Come and visit us. Join a class, speak with current students, and experience for yourself what it’s like to be part of the IMD community. If you can’t make it in person, join one of our online events, or contact our Admissions team who will be happy to put you in contact with students or alumni.
Looking ahead, what do you see as the biggest challenges and opportunities facing MBA students over the next five years? How is IMD preparing its students to navigate these?
AI is having a fundamental transformative effect on organizations. It is changing how we work and what we do. Students need to develop a mentality to view these changes as opportunities rather than just challenges.
Overall, the biggest challenges and opportunities MBAs will face in the coming years have to do with the increased volatility and pace of change we are witnessing. As we have discussed, AI is having a fundamental transformative effect on organizations. It is changing how we work and what we do. Students need to develop a mentality to view these changes as opportunities rather than just challenges. The same goes for economic and political volatility. People will need to be more resilient and agile in reacting to these different forms of environmental volatility.
And lastly, as the Dean of such a prestigious MBA program, how would you personally define success—both for the program and for its students?
For me, success as a program is to develop leaders who will have an impact not only on organizations but also on society as a whole. While one can always identify short-term metrics, for me what is important is providing a transformational experience that will help students to not only develop a better understanding of themselves but also how they can make a lasting impact.
Learn more about IMD Business School’s MBA program: imd.org/degree/mba/
Omar Toulan![iStock-1438575049 (1) [Converted]](https://www.europeanbusinessreview.com/wp-content/uploads/2024/11/iStock-1438575049-1-Converted-218x150.jpg "“Does Everyone Hear Me OK?”: How to Lead Virtual Teams Effectively")
![iStock-1438575049 (1) [Converted]](https://www.europeanbusinessreview.com/wp-content/uploads/2024/11/iStock-1438575049-1-Converted-100x70.jpg "“Does Everyone Hear Me OK?”: How to Lead Virtual Teams Effectively")
