Last day of Summer@INSEAD 2015! We leave you with some pictures of the Closing Ceremony and some of our personal reflections.
Pictures of the Closing Ceremony…
Personal reflections…
Good bye Summer@INSEAD 2015!
Last day of Summer@INSEAD 2015! We leave you with some pictures of the Closing Ceremony and some of our personal reflections.
Pictures of the Closing Ceremony…
Personal reflections…
Good bye Summer@INSEAD 2015!
In the afternoon of Day 17, we headed off to the Parc de Bercy. We were met there by Graffiti artists from all over the world. They taught us Street Art basics. Great fun! Take a look!
The morning at the Banana Farm with Sixtine – in charge of Communications for Michel et Augustin – was yummy, entertaining and interesting.
Michel et Augustin is the fruit of a childhood friendship, a shared passion for food, and the irresistible appeal of entrepreneurship, we learnt from an INSEAD case study that Michelle Rogan asked us to read prior to our session on Entrepreneurship.
The duo started working together in late 2003. They spent six months tasting baguettes and croissants in Paris as part of the research for their book Le Guide des Boulangeries de Paris, the first comprehensive guide to Parisian bakeries. It was while working on this project that they decided to launch their own food brand. Today, Michel et Augustin is selling a wide range of food products across the globe.
It wasn’t easy at the beginning, said Sixtine. Learning to make the perfect cookie took a long time. Selling those perfect cookies was also a challenge. The food industry is dominated by industry giants. How can a small company with very limited resources compete while it cannot even afford an advertising campaign?
While eating cookies and drinking apple juices, we listened to Sixtine’s presentation on what the two friends actually did to achieve success.
Thank you Sixtine for the entertaining presentation and for the cookies!
The afternoon of Day 16 was dedicated to a workshop on Arab Role Models led by Hamza Chraibi, founder of Arab Excellence (AE). Teams were asked to analyse what makes and drives several Arab inspirational entrepreneurs and leaders including:
Omar Samra: Entrepreneur & youngest Arab to climb the Everest and become an astronaut.
Nezha Bidouane: Double world & Olympic champion.
Ossama Haddanein: One of the most successful entrepreneurs and investors in the Silicon Valley.
Hussam Abu Issa: COO of Salaam International- a leading Arab Conglomerate.
Students were then tasked to make a powerpoint presentation on specific insights they learnt from this model and how they could apply this learning to their own career roadmap and achieve excellence.
At the end of the workshop, each team presented their work before Hamza, Peter Zemsky as well as the rest of the participants. Each presentation was filmed and followed by a short Q&A.
Take a look at the workshop and follow up interviews with INSEAD faculty and students on the Arab Excellence Summer@INSEAD page.
Thank you Hamza for the very inspiring afternoon!
Day 15 was Versailles! A busy day at Versailles. Luckily, we had special tickets and skipped the queue!
We started the day with a visit of the Palace.
Our guide explained that the palace initially served as a hunting lodge for Louis XIII and was later further developed by Louis XIV, Louis XV and Louis XVI. The palace was home of Louis XVI’s wife, the beautiful Marie-Antoinette known for her lavish lifestyle.
We visited the King and the Queen’s apartments, the Royal Chapel and the world famous Galeries des Glaces.
The Treaty of Versailles- formally marking the end of the First World War- was actually signed in the Galeries des Glaces. During the French Monarchy, the Galeries was used as a reception hall and a place where nobility could get a chance to see the King.
Throughout the tour, we learned many things about the life of the French royals at the time. For example, did you know that:
We spent the rest of the day exploring the Gardens of Versailles and the many fountains. Below are some interesting facts:
In the Gardens, we were able to admire several art works of British artist Anish Kapoor. Every summer, Versailles displays artwork of well known artists to boost frequentation. We really enjoyed the mirror and the whirlpool vortex. Both adds an unexpected vulnerability in the very controlled landscape of Versailles.
Last but not least, we found out that Versailles entrance tickets and the privatisation of some of its garden areas actually can’t cover its maintainance cost. As a result, Versailles records a deficit every year and is subsidized by the French government. Yet, Versailles indirectly contributes significantly to the French tourism industry, told us the guide.
On Day 14, we visited the medieval town of Provins. The city used to be a large trading hub in the XII and XIII centuries- a little like Dubai today. Provins was particularly well known for its Champagne fairs that attracted traders from all over Europe. Today, it is a UNESCO World Heritage Site. Its intact and authentic ramparts, dungeons, churches, underground tunnels, ancient houses, vaulted underground rooms as well as its several equestrian and falconry shows attract a large number of tourists every year.
Below is a photo essay of our visit to Provins.
On Day 13, we focused on finalising our poster for the Closing Ceremony. The poster was a team effort and summarised the main lessons learnt during the programme. What did we learn from professors? from company visits? from cultural and outdoor activities? from working in teams and accross cultures? and what could we take home?
Our 9 groups worked really hard to complete these posters. Throughout the process, we learnt a lot about ourselves and how to work effectively in teams. Below are some of our insights on working in teams, on some of the challenges we faced and how we overcame these challenges as well as how we connected and built trust across cultures.
On Day 12, Karim Mekachera, Director of Atout France for the Middle East and Turkey visited our campus to deliver a talk on tourism. Atout France is a government operator in charge of promoting tourism in France and maintaining France’s leading position in the world tourism market. Karim is responsible for the Dubai office operations and for promoting France as a premier tourist destination across the Middle East region and Turkey.
Below are some interesting facts about the tourism industry:
Amira, Euan, Dana, Mozoun & Saif
On Day 11, we visited the Maison Louis Vuitton on the Champs Elysees. Louis Vuitton is a French fashion house. Founded in 1854, it is one of the world’s leading and most valuable luxury brands today. It was created by Louis Vuitton in 1854. The brand initially focused on designing tough and waterproof stackable trunks suitable for long journeys – an innovation at the time. Some years later, the Damier design (to protect against counterfeit goods) and the iconic monogram were born and grew from strength to strength into the prestigious brand that we know and love today.
Prior to our visit to the Maison Louis Vuitton, we had read a case study on Louis Vuitton. The case described the stellar growth of the iconic French brand along with the group Louis Vuitton Moet Hennessy (LVMH), one of the leading companies in France today.
We had also visited the headquarters of LVMH and attended a presentation by a key executive of the group.
Below are a few insights gleaned from our visits to LVMH headquarters and to the Maison Louis Vuitton (LV).
LV has built its identity on four pillars:
Tradition: The ability to reproduce products that have been manufactured for 160 years.
Expertise: Know-how that has been passed on over 160 years, guaranteeing the quality of LV products over time. It takes up to 14 years of training to become a master craftsman at LV, we were told.
Audacity: A culture of originality and boldness. Innovation has been consistent throughout the entire history of the brand and continues to be a top priority of LV. Currently, LV is about launch a new line of products: perfumes. LV also innovates with materials by incorporating components that are not conventionally used in clothing for example. Innovation is not only prevalent in the LV products, but also in the LV stores. The design of the stores are constantly being renovated to stay relevant and attractive to customers. The brand is also bold in its choice of store locations. LV was the first luxury brand to open a store in Almaty, Kazakhstan.
Personalisation: Offering products that meet customer expectations exactly. LV offers the possibility to personalise bags and shoes.
LV has a unique business model. In order to maintain a very high standard of quality, LV keeps everything in house – from design to manufacturing and retail. The brand has 19,000+ employees (49% in stores, 31% in workshops, 20% in support functions) and operates 460+stores in 60+ countries. LV manufactures its wide range of products in known centres of excellence. For example, watches in Switzerland, shoes in Italy, leather goods in Europe and the USA, and jewellery in France.
To retain its exclusivity, LV does not have sales and never sells in other stores. Any unsold item is destroyed.
We ended our visit in a private luxury lounge on the top floor of the Maison Louis Vuitton. The lounge offers a unique view on the Champs Elysees. It is reserved to VIP clients – mainly from China, the Middle East and Southeast Asia where the demand for luxury items is fast increasing.
Marcos, Tabitha, Dana, Mohamed and Nouf
On Day 9 and 10, we studied the art of Decision Making with Associate Professor of Decision Sciences and Director of the INSEAD Abu Dhabi campus, Miguel Lobo.
Why study Decision Making ? Most business (and life) decisions are necessarily made under conditions of uncertainty. In business – as in life – we often avoid hard data and rely on simple rules and on intuition to make judgments and decisions. This is especially the case when we have insufficient information and when decisions need to be made quickly, as happens when managers face a turbulent and fast-changing business environment.
Humain Brain Vs Computer: Who wins? Miguel opened the session with the following question: Why is there such an emphasis on human judgment while computers are faster, more efficient and less prone to mistakes?
Computers base their answers purely on data- i.e. past numerical experience. The problem with this approach is that it doesn’t offer insights on untested events. In such situation, the human brain is better equipped – faster and more efficient- and it takes a more sensible approach.
Below are some of key points we learnt about the human brain over these two days:
The difference between cognitive and subconscious thinking. The front of the brain is for cognitive thinking. It is a process of thought which the being is aware of doing. This type of thinking is limited as it only allows one thought at a time. The back of the brain is the subconscious. It is a process of thought which the being is unaware of doing. The subconscious can gather a large number of information and is capable of two or more thoughts at a time. It transmits its final result through feelings (gut feelings). For this reason, “Feelings are information and have value in that way .” said Miguel.
Human brains can get trapped. Miguel proved this to us. Prior to his session, we had to fill in a survey on judgment. In the survey, Miguel had tricked us in many ways to illustrate the several cognitive biases of our human brains. Many simple rules that people use to make judgments and decisions lead to systematic and predictable errors, we were told. These are the several cognitive biaises:
Thank you Miguel for this very enlightening session!
By Hugo, Coen, Nicola, Ali & Shaikha
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