Bloomberg L. P. is a held financial, software and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, a 30% ownership investment by Merrill Lynch. Bloomberg L. P. provides financial software tools such as an analytics and equity trading platform, data services, news to financial companies and organizations through the Bloomberg Terminal, its core revenue-generating product. Bloomberg L. P. includes a wire service, a global television network, radio stations, subscription-only newsletters, two magazines: Bloomberg Businessweek and Bloomberg Markets. In 2014, Bloomberg L. P. launched Bloomberg Politics, a multiplatform media property that merged the company's political news teams, has recruited two veteran political journalists, Mark Halperin and John Heilemann, to run it. In 1981, Salomon Brothers was acquired, Michael Bloomberg, a general partner, was given a $10 million partnership settlement.
Bloomberg, having designed in-house computerized financial systems for Salomon, used his $10 million severance cheque to start Innovative Market Systems. Bloomberg developed and built his own computerized system to provide real-time market data, financial calculations and other financial analytics to Wall Street firms. In 1983, Merrill Lynch invested $30 million in IMS to help finance the development of "the Bloomberg" terminal computer system and by 1984, IMS was selling machines to all of Merrill Lynch's clients. In 1986, the company was renamed Bloomberg L. P. and 5,000 terminals had been installed in subscribers' offices. Within a few years, ancillary products including Bloomberg Tradebook, the Bloomberg Messaging Service, the Bloomberg newswire were launched. Bloomberg launched its news services division in 1990. Bloomberg.com was first established on September 29, 1993, as a financial portal with information on markets, currency conversion and events, Bloomberg Terminal subscriptions. In late 1996, Bloomberg bought back one-third of Merrill Lynch's 30 percent stake in the company for $200 million, valuing the company at $9 billion.
In 2008, facing losses during the financial crisis, Merrill Lynch agreed to sell its remaining 20 percent stake in the company back to Bloomberg Inc. majority-owned by Michael Bloomberg, for a reported $4.43 billion, valuing Bloomberg L. P. at $22.5 billion. Bloomberg L. P. has remained a private company since its founding. To run for the position of Mayor of New York against Democrat Mark Green in 2001, Bloomberg gave up his position of CEO and appointed Lex Fenwick as CEO in his stead. Peter Grauer is the chairman. In 2008, Fenwick became the CEO of a new venture capital division. Daniel Doctoroff, former deputy mayor in the Bloomberg administration, serves as president and CEO. In September 2014, it was announced that Michael Bloomberg would be taking the reins of his eponymous market data company from Doctoroff, chief executive of Bloomberg for the past six years after his term as deputy mayor. In September 2014, Bloomberg sold its Bloomberg Sports analysis division to the data analysis firm STATS LLC for a fee rumored to be between $15 million and $20 million.
Since its founding, Bloomberg L. P. has made several acquisitions including the radio station WNEW, BusinessWeek magazine, research company New Energy Finance, the Bureau of National Affairs and the financial software company Bloomberg PolarLake. On July 9, 2014, Bloomberg L. P. acquired RTS Realtime Systems, a global provider of low-latency connectivity and trading support services. In 1992, Bloomberg L. P. purchased New York Radio station WNEW for $13.5 million. The station was converted into an all-news format, known as Bloomberg Radio, the call letters were changed to WBBR. Bloomberg L. P. bought a weekly business magazine, BusinessWeek, from McGraw-Hill in 2009. The company acquired the magazine—which was suffering from declining advertising revenue and limited circulation numbers—to attract general business to its media audience composed of terminal subscribers. Following the acquisition, BusinessWeek was renamed Bloomberg Businessweek. Joel Weber edits the magazine. In 2010, Bloomberg L. P. acquired Eagle Eye Publishing, a Fairfax, Virginia-based company that publishes data about procurement by the Federal Government.
This acquisition became part of Bloomberg Government, launched in early 2011. In 2009, Bloomberg L. P. purchased New Energy Finance, a data company focused on energy investment and carbon markets research based in the United Kingdom. New Energy Finance was created by Michael Liebreich in 2004, to provide news and analysis on carbon and clean energy markets. Bloomberg L. P. acquired the company to become an industry resource for information to support low-carbon energy solutions. It was renamed to BNEF for short. Liebreich continued to lead the company, serving as the chief executive officer until 2014, when he stepped down as CEO but remained involved as Chairman of the Advisory Board. Bloomberg L. P. purchased Arlington, Virginia-based Bureau of National Affairs in August 2011, for $990 million to bolster its existing Bloomberg Government and Bloomberg Law services. BNA publishes specialized online and print news and information for professionals in business and government; the company produces more than 350 news publications in topic areas that include corporate law and business, employee benefits and labor law, environment and safety, health care, human resources, intellectual property and tax and acco
International Association for the Evaluation of Educational Achievement
The International Association for the Evaluation of Educational Achievement is an independent, international cooperative of national research institutions and governmental research agencies. It conducts large-scale comparative studies of educational achievement and other aspects of education, with the aim of gaining in-depth understanding of the effects of policies and practices within and across systems of education. Since its founding in 1958, IEA has conducted more than 30 research studies of cross-national achievement. IEA studies focus on subjects relating to mathematics, reading and citizenship education and information literacy, teacher education, among others. Though the IEA became a legal entity in 1967, its origins date back to 1958 when a group of scholars, educational psychologists and psychometricians met at the UNESCO Institute for Education in Hamburg, Germany, to discuss problems of school and student evaluation, they believed that effective evaluation requires examination of both educational inputs as well as its outcomes.
The founders assumed that if research could obtain evidence from across a wide range of systems, the variability would be sufficient to reveal important relationships within different school systems. They rejected data-free assertions about the relative merits of various education systems, aimed to identify factors that would have meaningful and consistent influences on educational outcomes; the IEA, together with the association's membership, carries out comparative research studies in education and aims to: Provide international benchmarks that may assist policymakers in identifying the relative strengths and weaknesses of their educational systems Provide high-quality data that will increase policymakers' understanding of key school- and non-school-based factors that influence teaching and learning Provide high-quality data which will serve as a resource for identifying areas of concern and action, for preparing and evaluating educational reforms Develop and improve educational systems' capacity of education systems to engage in national strategies for educational monitoring and improvement Contribute to development of the worldwide community of researchers in educational evaluation IEA Amsterdam The IEA headquarters is located in Amsterdam, the Netherlands.
IEA Amsterdam carries out a wide range of duties related to IEA memberships, finance and communication. These responsibilities include: maintaining relationships with member institutions and external funding and research agencies overseeing IEA projects and managing translation verification of the survey instruments and quality control of the data collection financial planning and reporting organizing international conferences and General Assembly meetings managing IEA's publications and communications. Staff in Amsterdam disseminate study reports and information about the work of the association to the IEA members and the general public. IEA Hamburg The IEA's data processing and research department is located in Germany. IEA Hamburg is responsible for activities in several major areas, including: data management for IEA studies and for other international and national studies study preparation, organization and coordination providing data analysis and reporting support services for IEA member states delivering training workshops and seminars on analysis methods and use of educational research data additional services commissioned by both national and international scientific institutionIEA Hamburg provides scanner-assisted data collection, electronic scoring, data interpretation services.
Since its founding in 1958, IEA has conducted more than 30 research studies of cross-national achievement. IEA studies focus on subjects of particular interest to IEA members; these include mathematics and science studies, reading studies and citizenship education and information literacy, teacher education, among others. A regular cycle of studies in basic school subjects includes: the Trends in International Mathematics and Science Study the Progress in International Reading Literacy Study; the International Civic and Citizenship Education Study, the Computer and Information Technology in Education Studies, the Early Childhood Education Study. The International Computer and Information Literacy Study. In 2005 IEA initiated its first study in tertiary education: Teachers Education and Development Study in Mathematics. IEA repeats assessments in specific subjects on irregular intervals; the cycle of studies enables countries to monitor changes in education and educational achievement over time.
IEA studies consider the processes and effects of education, using the notion of'opportunity to learn' in order to understand the linkages between: Intended curriculum Implemented curriculum Achieved curriculum. To investigate these relations, IEA collects student achievement data, as well as background information from school principals, teachers and policymakers about the contexts of teaching and learning; the IEA designed the Literacy and Numeracy Assessment to provide educators with valuable experience in standardized assessment, implementation of the assessment procedures, capacity building in planning and administering asse
Index of Economic Freedom
The Index of Economic Freedom is an annual index and ranking created in 1995 by The Heritage Foundation and The Wall Street Journal to measure the degree of economic freedom in the world's nations. The creators of the index took an approach similar to Adam Smith's in The Wealth of Nations, that "basic institutions that protect the liberty of individuals to pursue their own economic interests result in greater prosperity for the larger society". Key: ██ Free ██ Mostly Free ██ Moderately Free ██ Mostly Unfree ██ Repressed Andorra Antigua and Barbuda Grenada Iraq Libya Liechtenstein Marshall Islands Monaco Nauru Palau Saint Kitts and Nevis San Marino Somalia South Sudan Syria Tuvalu The following table contains more attributes; the whole table is available in XLS format at The Heritage Foundation web site. The 2018 ranking scores aspects of economic freedom between 0 and 100, with 0 meaning "no economic freedom" and 100 meaning "total economic freedom". There are twelve aspects divided into four categories.
Property rightsDegree of a country's legal protection of private property rights and degree of enforcement of those laws. It is divided into the following sub-factors: physical property rights intellectual property rights strength of investor protection risk of expropriation quality of land administrationJudicial effectivenessDegree of the judiciary's efficiency and fairness dealing with property laws, it is divided into the following sub-factors: judicial independence quality of the judicial process likelihood of obtaining favorable judicial decisionsGovernment integrityAnalyzes how prevalent are forms of political corruption and practices such as bribery, nepotism, patronage and graft. It is divided into the following sub-factors: public trust in politicians irregular payments and bribes transparency of government policymaking absence of corruption perceptions of corruption governmental and civil service transparency Tax burdenAnalyzes marginal tax rates on personal and corporate income and the overall taxation level as a percentage of the GDP.
Its sub-factors are: top marginal tax rate on individual income top marginal tax rate on corporate income total tax burden as a percentage of GDPGovernment spendingQuantifies the burden of government expenditures, including consumption by the state and all transfer payments related to various entitlement programs. The ideal level varies from country to country. Fiscal healthAnalyzes how well a country manages its budget by quantifying the growing debt and deficit, it is divided into the following sub-factors: average deficits as a percentage of GDP for the most recent three years debt as a percentage of GDP Business freedomAnalyses the cost and freedom to open and close a business, taking into consideration factors like electricity. It is divided into thirteen sub-factors: starting a business—procedures. Labor freedomQuantifies the intrusivness of labor rights such as minimum wage, laws inhibiting layoffs, severance requirements, measurable regulatory restraints on hiring and hours worked, plus the labor force participation rate as an indicative measure of employment opportunities in the labor market.
It is divided into the following sub-factors: ratio of minimum wage to the average value added per worker hindrance to hiring additional workers rigidity of hours difficulty of firing redundant employees mandated notice period mandatory severance pay labor force participation rateMonetary freedomAnalyses how stable are prices and how much microeconomy intervenes. It is divided into the following sub-factors: weighted average inflation rate for the most recent three years price controls Trade freedomQuantifies the extent to which tariff and nontariff barriers affect imports and exports of goods and services into and out of the country, its sub-factors are: trade-weighted average tariff rate nontariff barriers Investment freedomAnalyses how free or constrained is the flow of investment capital of individuals and firms. Financial freedomIndicates banking efficiency as well as how independent from the government is the financial sector; this aspect looks at five broad areas: extent of government regulation of financial services degree of state intervention in banks and other financial firms through direct and indirect ownership government influence on the allocation of credit extent of financial and capital market development openness to foreign competition The Heritage Foundation reports that the top 20% on the index have twice the per capita income of those in the second quintile, five times that of the bottom 20%.
Carl Schramm, who wrote the first chapter of the 2008 Index, states that cities of Medieval Italy and mid-19th century Midwestern American cities all flourished to the degree they possessed economic fluidity and institutional adaptiveness created by economic freedom. According to Will Wilkinson of the libertarian think tank Cato Institute, studies show that higher economic freedom correlates with higher self-reported happiness. According to economists Tomi Ovaska and Ryo Takashima, economic freedom
The Wall Street Journal
The Wall Street Journal is a U. S. business-focused, English-language international daily newspaper based in New York City. The Journal, along with its Asian and European editions, is published six days a week by Dow Jones & Company, a division of News Corp; the newspaper is published in online. The Journal has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, Charles Bergstresser; the Wall Street Journal is one of the largest newspapers in the United States by circulation, with a circulation of about 2.475 million copies as of June 2018, compared with USA Today's 1.7 million. The Journal publishes the luxury news and lifestyle magazine WSJ, launched as a quarterly but expanded to 12 issues as of 2014. An online version was launched in 1996, accessible only to subscribers since it began; the newspaper is notable for its award-winning news coverage, has won 37 Pulitzer Prizes. The editorial pages of the Journal are conservative in their position. The"Journal" editorial board has promoted fringe views on the science of climate change, acid rain, ozone depletion, as well as on the health harms of second-hand smoke and asbestos.
The first products of Dow Jones & Company, the publisher of the Journal, were brief news bulletins, nicknamed "flimsies", hand-delivered throughout the day to traders at the stock exchange in the early 1880s. They were aggregated in a printed daily summary called the Customers' Afternoon Letter. Reporters Charles Dow, Edward Jones, Charles Bergstresser converted this into The Wall Street Journal, published for the first time on July 8, 1889, began delivery of the Dow Jones News Service via telegraph. In 1896, The "Dow Jones Industrial Average" was launched, it was the first of several indices of bond prices on the New York Stock Exchange. In 1899, the Journal's Review & Outlook column, which still runs today, appeared for the first time written by Charles Dow. Journalist Clarence Barron purchased control of the company for US$130,000 in 1902. Barron and his predecessors were credited with creating an atmosphere of fearless, independent financial reporting—a novelty in the early days of business journalism.
In 1921, Barron's, the United States's premier financial weekly, was founded. Barron died in 1928, a year before Black Tuesday, the stock market crash that affected the Great Depression in the United States. Barron's descendants, the Bancroft family, would continue to control the company until 2007; the Journal took its modern shape and prominence in the 1940s, a time of industrial expansion for the United States and its financial institutions in New York. Bernard Kilgore was named managing editor of the paper in 1941, company CEO in 1945 compiling a 25-year career as the head of the Journal. Kilgore was the architect of the paper's iconic front-page design, with its "What's News" digest, its national distribution strategy, which brought the paper's circulation from 33,000 in 1941 to 1.1 million at the time of Kilgore's death in 1967. Under Kilgore, in 1947, the paper won its first Pulitzer Prize for William Henry Grimes's editorials. In 1967, Dow Jones Newswires began a major expansion outside of the United States that put journalists in every major financial center in Europe, Latin America and Africa.
In 1970, Dow Jones bought the Ottaway newspaper chain, which at the time comprised nine dailies and three Sunday newspapers. The name was changed to "Dow Jones Local Media Group".1971 to 1997 brought about a series of launches and joint ventures, including "Factiva", The Wall Street Journal Asia, The Wall Street Journal Europe, the WSJ.com website, Dow Jones Indexes, MarketWatch, "WSJ Weekend Edition". In 2007, News Corp. acquired Dow Jones. WSJ. A luxury lifestyle magazine, was launched in 2008. A complement to the print newspaper, The Wall Street Journal Online, was launched in 1996 and has allowed access only by subscription from the beginning. In 2003, Dow Jones began to integrate reporting of the Journal's print and online subscribers together in Audit Bureau of Circulations statements. In 2007, it was believed to be the largest paid-subscription news site on the Web, with 980,000 paid subscribers. Since online subscribership has fallen, due in part to rising subscription costs, was reported at 400,000 in March 2010.
In May 2008, an annual subscription to the online edition of The Wall Street Journal cost $119 for those who do not have subscriptions to the print edition. By June 2013, the monthly cost for a subscription to the online edition was $22.99, or $275.88 annually, excluding introductory offers. On November 30, 2004, Oasys Mobile and The Wall Street Journal released an app that would allow users to access content from the Wall Street Journal Online via their mobile phones. Many of The Wall Street Journal news stories are available through free online newspapers that subscribe to the Dow Jones syndicate. Pulitzer Prize–winning stories from 1995 are available free on the Pulitzer web site. In September 2005, the Journal launched a weekend edition, delivered to all subscribers, which marked a return to Saturday publication after a lapse of some 50 years; the move was designed in part to attract more consumer advertising. In 2005, the Journal reported a readership profile of about 60 percent top management, an average income of $191,000, an average household net worth of $2.1 million, an average age of 55.
In 2007, the Journal launched a worldwide expansion of its website to include major foreign-language editions. The p
Progress in International Reading Literacy Study
The IEA's Progress in International Reading Literacy Study is an international study of reading achievement in fourth graders. It is conducted by the International Association for the Evaluation of Educational Achievement, it is designed to measure children's reading literacy achievement, to provide a baseline for future studies of trends in achievement, to gather information about children's home and school experiences in learning to read. PIRLS 2006 tested 215,000 students from 46 educational systems. PIRLS 2011 testing results were published in December 2012. "The reading achievement results present each country with an opportunity to examine educational policies and practices against a globally-defined benchmark, while the report contains rich information about children's early literacy experiences and reading instruction." PIRLS provides internationally comparative data on how well children read by assessing students’ reading achievement. PIRLS collects considerable background information on how education systems provide educational opportunities to their students as well as the factors that influence how students use these opportunities.
These background data include information about the following: national curriculum policies in reading. Studies of reading literacy had been conducted prior to the PIRLS study of 2001, PIRLS is the successor to IEA studies, such as the Reading Literacy Study, that started in 1970 and continued until 1991; the PIRLS study of 2001 started the trend for cyclical testing. By administering the test every five years, education systems are able to monitor their children's literacy achievement over time; the current cycle, PIRLS 2016, is the fourth cycle of the IEA PIRLS. Like the previous PIRLS cycles, the study will collect extensive information about home supports for literacy and curriculum implementation, instructional practices, school resources in each participating country; the IEA Progress in International Reading Literacy Study 2001 was the first cycle of assessments to measure trends in children's reading literacy achievement, policy and practices related to literacy. The study examined three aspects of reading literacy: processes of comprehension, purposes for reading, reading literacy behavior and attitudes.
35 countries took part in the first cycle. PIRLS 2006 assessed a range of reading comprehension strategies for two major reading purposes: literary and informational; the student test of reading comprehension addressed four processes: retrieval of explicitly stated information making straightforward inferences interpreting and integrating ideas and information examination and evaluation of content and textual elements. For the second cycle of the study 41 countries participated assessing students of grade four. PIRLS 2006 assessed. Combining newly developed reading assessment passages and questions for 2011 with a selection of secure assessment passages and questions from 2001 and 2006, the study offered a state-of-the-art assessment of reading comprehension that allowed for measurement of changes since 2001; the international population for PIRLS 2011 consisted of students in the grade that represents four years of schooling, provided that the mean age at the time of testing was at least 9.5 years.
In the 2011 cycle, prePIRLS was offered to assess basic reading skills as a bridge to PIRLS, for countries where most children are still developing fundamental reading skills at the end of the primary school cycle. PIRLS 2016 was released on December 5, 2017, it collects extensive information about home supports for literacy and curriculum implementation, instructional practices, school resources in each participating country. In this cycle there were two additional initiatives: the PIRLS Literacy assessment is equivalent to PIRLS in scope and reflects the same conception of reading as PIRLS, its purpose is to extend the effective measurement of reading literacy at the lower end of the achievement scale. Countries whose fourth-grade students are still developing fundamental reading skills can participate in the PIRLS Literacy assessment and still have their results reported on the PIRLS achievement scale; the reading passages and questions in common between the PIRLS Literacy and the PIRLS assessments will enable the two assessments to be linked, their results to be compared.
Initiated in 2016, ePIRLS is a computer-based reading assessment of students’ ability to acquire and use information when reading online. The assessment encompasses an engaging, simulated internet environment with authentic school-like assignments about science and social studies topics; the ePIRLS online reading achievement scale enables countries to examine their fourth-graders’ online reading performance relative to their performance on the PIRLS reading achievement scales. In terms of trends, the PIRLS results for student achievement by country states that 18 countries had higher average achievement, 13 countries had the same average achievement, 10 countries had lower average achievement; the 2016 PIRLS Encyclopedia has Curriculum in Reading by country. It describes the structure of each education system, the reading curricula in the primary g
World Economic Forum
The World Economic Forum, based in Cologny-Geneva, was founded in 1971 as a not-for-profit organization. It gained formal status in January 2015 under the Swiss Host-State Act, confirming the role of the Forum as an International Institution for Public-Private Cooperation; the Forum's mission is cited as "committed to improving the state of the world by engaging business, political and other leaders of society to shape global and industry agendas". The WEF hosts a annual meeting at the end of January in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland; the meeting brings together some 2,500 business leaders, international political leaders, economists and journalists for up to four days to discuss the most pressing issues facing the world. The organization convenes some six to eight regional meetings each year in locations across Africa, East Asia and Latin America, holds two further annual meetings in China and the United Arab Emirates. Beside meetings, the organization provides a platform for leaders from all stakeholder groups from around the world – business and civil society – to come together.
It produces a series of research reports and engages its members in sector-specific initiatives. There have been many other international conferences nicknamed with "Davos". However, the World Economic Forum objected the use of "Davos" in such contexts for any event not organised by them; this particular statement was issued on 22 October 2018, a day before the opening of 2018 Future Investment Initiative organised by the Public Investment Fund of Saudi Arabia. The WEF was founded in 1971 by Klaus Schwab, a business professor at the University of Geneva. First named the "European Management Forum", it changed its name to the World Economic Forum in 1987 and sought to broaden its vision to include providing a platform for resolving international conflicts. In the summer of 1971, Schwab invited 444 executives from Western European firms to the first European Management Symposium held in the Davos Congress Centre under the patronage of the European Commission and European industrial associations, where Schwab sought to introduce European firms to American management practices.
He founded the WEF as a nonprofit organization based in Geneva and drew European business leaders to Davos for the annual meetings each January. Schwab developed the "stakeholder" management approach, which attributed corporate success to managers taking account of all interests: not shareholders and customers, but employees and the communities within which the firm is situated, including governments. Events in 1973, including the collapse of the Bretton Woods fixed-exchange rate mechanism and the Arab–Israeli War, saw the annual meeting expand its focus from management to economic and social issues, for the first time, political leaders were invited to the annual meeting in January 1974. Political leaders soon began to use the annual meeting as a neutral platform; the Davos Declaration was signed in 1988 by Greece and Turkey, helping them turn back from the brink of war. In 1992, South African President F. W. de Klerk met with Nelson Mandela and Chief Mangosuthu Buthelezi at the annual meeting, their first joint appearance outside South Africa.
At the 1994 annual meeting, Israeli Foreign Minister Shimon Peres and PLO chairman Yasser Arafat reached a draft agreement on Gaza and Jericho. In late 2015, the invitation was extended to include a North Korean delegation for the 2016 forum, "in view of positive signs coming out of the country", the WEF organizers noted. North Korea has not been attending the WEF since 1998; the invitation was accepted but after the January 2016 North Korean nuclear test on 6 January, the invitation was revoked, the country's delegation was made subject to "existing and possible forthcoming sanctions". Despite protests by North Korea calling the decision by the WEF managing board a "sudden and irresponsible" move, the WEF committee maintained the exclusion because "under these circumstances there would be no opportunity for international dialogue". In 2017, the World Economic Forum in Davos attracted considerable attention when for the first time, a head of state from the People's Republic of China was present at the alpine resort.
With the backdrop of Brexit, an incoming protectionist US administration and significant pressures on free trade zones and trade agreements, President Xi Jinping defended the global economic scheme, portrayed China as a responsible nation and a leader for environmental causes. He rebuked the current populist movements that would introduce tariffs and hinder global commerce, warning that such protectionism could foster isolation and reduced economic opportunity. In 2018, Indian Prime Minister Narendra Modi gave the plenary speech, becoming the first head of state from India to deliver the inaugural keynote for the annual meet at Davos. Modi highlighted climate change and protectionism as the three major global challenges, expressed confidence that they can be tackled with collective effort. In 2019, Brazilian President Jair Bolsonaro gave the keynote address at the plenary session of the conference. On his first international trip to Davos, he emphasized liberal economic policies despite his populist agenda, attempted to reassure the world that Brazil is a protector of the rain forest while utilizing its resources for food production and export.
He stated that "his government will seek to better integrate Brazil into the world by mainstreaming international best practices, such as those adopted and promoted by the OECD". Environmental concerns like extreme weather events, the failure of climate-change mitigation and adaptation were among the top-r
International Institute for Management Development
International Institute for Management Development is a business education school located in Lausanne, Switzerland. It is not part of a university, only offers MBA and Executive MBA programs. IMD was formed in January 1990 through the merger of independent management education centers International Management Institute, established in 1946 by Alcan, Institut pour l'Etude des Methodes de Direction de l'Entreprise Lausanne established in 1957 by Nestlé; the new organization, the International Institute for Management Development, settled in Lausanne. The history of IMEDE and its merger with IMI is documented in Jean-Pierre Jeannet and Hein Schreuder, its industrial heritage is unusual for business schools, which are university-affiliated. IMD business school provides executive education; the professors do not have permanent academic tenure but work under one-year contracts and a performance based pay package. The faculty consists of 50 full-time members, made up of 21 different nationalities; the current President is Jean-François Manzoni, who follows Dominique Turpin, John R. Wells and Peter Lorange.
The latter ran the school from 1993 till 2008 and has been credited with having established IMD as one of the world's leading business schools. IMD focuses on developing general management and leadership skills. IMD selects experienced candidates for both the Master of Business Administration and the Executive MBA, its other focus is to have a broad international group of participants attending open programs to ensure that no nationality dominates. Every year, some 8,000 executives, representing over 98 nationalities attend one of the programs. IMD has two main educational offerings: Degree programs: the MBA and the EMBA Executive education: open enrollment and company custom programs The degree programs have triple accreditation by AACSB, AMBA, EFMD; the school's MBA program is a one-year full-time program. The program runs from January through December without any break; each class includes 90 participants from various countries. The MBA program focuses on personal development and general management instead of functional expertise, as a result, the majority of the graduates get positions in the industrial rather than the financial sector, unlike other major schools.
Students will benefit from close contact with executives on site given IMD has been recognised as the best business school for open program in executive education from 2012 to 2017. Moreover, Students will enjoy several trips to further expand their knowledge and activate their network: one discovery expedition, a Europe trip and a trip to reflect on dilemma; each student will have to participate to the International Consulting Project during fall where he or she will be part of a team and work as consultant on a project designed by various companies. Admission to the MBA program requires a bachelor's degree or equivalent from an accredited institution, GMAT and a minimum three years full-time work experience, as well as strong command of written and spoken English and one language in addition to English. Applicants who are deemed successful in the first, written stage of the application process are invited to the second stage, an interview process called the IMD Assessment Day; the Assessment Day is a full-day event held either in IMD’s campus in Lausanne, Switzerland, or in Singapore.
It involves a personal interview, a short presentation, a business case discussion, an MBA class observation. The final admissions decision is communicated within 2 weeks of the Assessment Day; the curriculum of the EMBA is different from the MBA because it targets experienced managers with at least 10 years of experience who seek to strengthen their careers without leaving their jobs. The average class size is around 55 participants of more than 40 nationalities; the program has three components: the foundations for business leadership, the advanced management concepts and the mastery stage. All together the program takes over one year, it has a strong focus on leadership skills, integrated business themes, on the immediate practical application of the subject matter. The 55 selected students have an average age of 40. Executive education is a fundamental part of the school activities. In 2012, 2013, 2014, 2015, 2016 and 2017, IMD was ranked first in open programs worldwide by the Financial Times.
The FT places IMD at second in Custom Programs, with the school jumping up two places from fourth in 2016. IMD remained in second place in the combined custom and open program rankings, maintaining its spot from last year. Swiss Finance Institute HEC Lausanne Information's about the International Institute for Management Development IMD – International Institute for Management Development, A-Z Business Schools, independent.co.uk International Academy of Sports Science and Technology