IMD business school and Cisco join forces on digital business transformation
Cisco will make a contribution to IMD valued at $US 10 million
to develop thought leadership and address business challenges in digital transformation
LAUSANNE/SAN JOSE (26 MARCH 2015)-IMD, the top-ranked business school focused on executive education, announced today a contribution valued at $US 10 million from Cisco to become the world leading destination for research, innovation and leadership to drive digital transformation to all aspects of enterprises, in every industry.
Cisco intends to fund the Cisco Chair in Digital Business Transformation and create the IMD/Cisco Global Center for Digital Business Transformation, to be located on IMD's campus in Lausanne, Switzerland, and fully operational by summer 2015.
The collaboration will combine Cisco's leadership in providing technology solutions for the Internet of Everything (IoE) with IMD's expertise in developing global leaders. According to Gartner Research, by 2020, 75 percent of businesses will be a digital business or will be preparing to become one, yet only 30 percent of these efforts will be successful due to lack of talent and technical expertise. Gartner reveals the number one reason companies fail in digital transformation efforts is a failure to re-imagine and reinvent the business from top to bottom before they begin.
The partnership between Cisco and IMD will combine original research and Cisco Consulting's open innovation approach in order to generate practical insights that executives can apply directly to their businesses. By conducting original research, the Global Center for Digital Business Transformation will work to define digital business transformation, what it means for companies today, and how to stay relevant in today's competitive marketplace.
The Global Center aims to become a world-leading hub of research and innovation, helping executives take advantage of digital opportunities and neutralize digital threats. Employing full-time researchers from both IMD and Cisco, the Center will produce cutting-edge thought leadership and organize learning events. It will also collaborate with Cisco's existing network of innovation centers around the world.
Please find the FULL PRESS RELEASE on imd.org
IMD is the top-ranked business school, recognized as the expert in developing global leaders through high-impact executive education. The school is 100% focused on real-world executive development; offers Swiss excellence with a global perspective; and has a flexible, customized and effective approach.
Cisco, (NASDAQ: CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com.