Day 18: The Closing Ceremony

September 1, 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…

: We were tasked to reflect on a poster what we learnt during Summer@INSEAD and to present our key insights during the Closing Ceremony. Some 18 days worth of intensive team work!

: Handling over of the completion certificates.

: We ended the Closing Ceremony with some group photos…

: …And some selfies!

Personal reflections…

: “Summer@INSEAD has been life changing for many of us in multiple ways. Personally, Subi Rangan’s lecture on Societal Progress changed my view on the future and the goals of our generation. In addition, the programme strongly boosted my understanding of how the real business world looks like and inspire me to study business in the future.”

: “Summer@INSEAD has been by far, the best experience of my life. It has taught me so much in so little time. Through professors like Subi Rangan, Miguel Lobo and Marwan Sinaceur, I have built a good understanding of business as well as made new friends that I’ll hopefully treasure for the rest of my life.”

: “As a 15 year old student, participating at Summer@INSEAD has been such an honour and a great experience. I believe that this opportunity has taught me so much, such as patience, being responsible and learning from everything and everyone around.”

: These past 18 days at Summer@INSEAD have been one of the most unique and unforgettable moments of my life. I’ve created long lasting bonds with people from different corners of the world. This programme has allowed me to learn in a completely different way than I do in school. I was able to apply my critical opinion in class, as well as think outside the box thanks to the many professors that I have had the chance to learn from.”

: I would definitely take home the amazing and unforgettable memories that I had. I would also take home a lot of new life skills, such as being independent, gaining the willingness and the ability to try new things and interacting with students from different nationalities.”

: “When I ‘m back home, I will apply what I have learnt in class. I will aspire to be a JEDI (Justice, Efficiency, Diversity, Integrator), a skilled negotiator and make the right decisions for my future. I also want to think like an entrepreneur. “

: Working within an international team is the best thing that I have ever experienced. The people in my group were very cooperative and amazing. We all shared ideas about many different things and we divided the work equally which made us feel satisfied and happy with our work results.”

: “I love this programe. It was so crazy but, at the same time, amazing. I always felt happy and excited. I had an amazing time making new friends and meeting new people.”

: “Summer@INSEAD is a triathlon. A test in integrity, in endurance but most importantly, in understanding. It may leave you restless at the thought of an impending assignment to hand in, breathless with its late night discussions over the ethicality of the business world or actually breathless from rock-climbing and even dumbstruck by a clash of cultures and ideologies. However, from such olympic triumphs come great rewards: an overture on cultures, on business, on personalities and perhaps even inching yourself closer to that summer body with all these sports.”

Good bye Summer@INSEAD 2015!

Day 17: Afternoon of Street Art

September 1, 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!

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Day 17: Morning @ Michel et Augustin

September 1, 2015

: At the Banana Farm – Michel et Augustin’s headquarters.

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.

: Michel et Augustin at school

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.

: The perfect cookies….

: The world famous chocolate mousse…

: …and many other products! Recipes are available online.

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.

: Building awareness One of the first marketing campaigns: Michel & Augustin dressed up as cows in the Parisian metro.

: Leveraging social media The Starbucks saga: How the company got a meeting with the global CEO of Starbucks in Seattle.

: Building a local community of fans.

: Sharing a passion for pastry All staff at Michel et Augustin must be pastry-certified. Customers can join the pastry class too.

: Shaking up the French establishment.

Thank you Sixtine for the entertaining presentation and for the cookies!

Day 16: Afternoon on Arab Role Models

August 18, 2015

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: Versailles

August 17, 2015

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:

The French monarchy was always under public scrutiny from early morning to bed time. There was little privacy.
Nobles had to spend half of the year at Versailles to prove allegiance to the King.
The wealth of the interior design was purposely displayed to show the King’s power.

We spent the rest of the day exploring the Gardens of Versailles and the many fountains. Below are some interesting facts:

The gardens are huge. Walking from the palace to the end of the gardens could take up 4 hours.
Looking from the main fountains, the chapel is the tallest structure. This was to remind people at the time that God was watching them and blessed the Kingdom of France.
The landscape is purposely domesticated. The lakes are man-made. Most trees are carefully sculpted. The lawns are manicured. By so doing, Louis XIV wanted to show his power and the fact that he could overcome nature.

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.

Day 14: Provins

August 16, 2015

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.

: Our tour guide, Cecile took us on a walk around the medieval town. We explored the key iconic landmarks of the city.

: The ramparts: One of the most imposing fortified walls of France at the time with a total of 5 km of ramparts. Builders were able to take advantage of the wealth of the counties to demonstrate their knowledge, by building all possible forms of towers: round, rectangular, hexagonal, octagonal, etc. Today, there are 1200 meters of ramparts around the upper town.

: The square where the Champagne Fairs took place.

: The two rivers of Provins helped the clothing and leather industry develop.

: The people of Provins showed their wealth by building houses out of stone- a very expensive process at the time.

: View of Provins from the Caesar Tower

: The Caesar tower: This Dungeon complex is the symbol of the city and illustrates the power of the counts of Champagne during the middle ages.

: For lunch, we enjoyed a medieval banquet.

: We dressed up…

: … and watched jugglers, sword-swallowers, and fire eaters.

: After the banquet, we saw eagles, owls and falcons at a falconry show.

: Students even had a chance to hold a falcon on their arm!

: A truly amazing day in Provins!

Day 13: Teamwork

August 14, 2015

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.

: Teamwork can be really awkward when everyone has different mindset and way of working.

: By spending time together in and out of the classroom, by taking part in team building activities such as karting and climbing, by playing football, we found shared interests and friendships and were able to work effectively together.

: We learnt that effective teamwork is about complementing each other’s strengths and weaknesses.

: Teamwork can be very frustrating. Turn off the cellphones, keep calm, take frequent breaks & have some fun!

: It is important to listen and include everyone’s voice, mindset and background when working in teams.

: It is okay to ask questions about cultural and social boundaries.

: Do not judge. Forget stereotypes. We may have very different cultures but we are alike in many ways. Look for similarities, don’t focus on differences.

: Follow O-Ren Ishii’s wise words “As your leader, I encourage you to — from time to time and always in a respectful manner, and with the complete knowledge that my decision is final — to question my logic. If you’re unconvinced about a particular plan of action I’ve decided is the wisest, tell me so. But allow me to convince you. And I will promise you, right here and now, no subject will be taboo.” Kill Bill by Quentin Tarantino

Day 12: Afternoon on Tourism

August 14, 2015

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.

: Karim Mekachera, Atout France

Below are some interesting facts about the tourism industry:

Tourism is the fastest growing industry in the world.
France is the Number 1 tourist destination in the world in terms of number of visitors and Number 3 in terms of income.
Tourism is the Number 1 economic sector in France.
Paris is the third most visited city in the world. Visitors come to Paris for its rich historical and cultural sites such as the Chateau of Versailles, the Chateau of Fontainebleau and the Louvre.

: Busy day at the “galeries des glaces”

The Louvre is the world’s largest museum and houses one of the most impressive art collections in history – including the world famous Mona Lisa of Leonardo da Vinci.

: Looking for the Mona Lisa…

It is one of the city’s biggest tourist attractions with the Eiffel tower and the most visited museum in the world – with an average of 15,000 visitors per day!

: Been there!

Paris also offers one of the best shopping experiences in the world.

: We loved shopping at the Galeries Lafayette!

Despite the wealth of historical and cultural sites as well as stunning seaside, ski resorts and countryside, most visitors tend not to venture much out of Paris. This is mainly due to a lack of tourism infrastructure, we were told.
One aspect of tourism that is often overlooked is rural tourism- a variant of ecotourism – said Karim. Rural tourism focuses on actively participating in a rural lifestyle and is an increasing sources of income for rural areas. The industry segment has been rapidly growing in the past decade, leading to rural tourism becoming not just a good business prospect, but a genuine vacation trend.

: Our Middle Ages experience at Provins.

Amira, Euan, Dana, Mozoun & Saif

Day 11: Maison Louis Vuitton

August 13, 2015

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.

: 3D printed Bonsai made of bronze, by Marc Quinn

: Designed glass ceiling at the Maison Louis Vuitton.

Personalisation: Offering products that meet customer expectations exactly. LV offers the possibility to personalise bags and shoes.

: An example of the made-to-order men’s shoes

: Monogram stamping machine for personalisation of leather goods at the Maison Louis Vuitton.

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.

: Our group on the top floor of the Maison Louis Vuitton.

: Beautifully designed fitting room on the VIP floor

Marcos, Tabitha, Dana, Mohamed and Nouf

Day 9 & 10: Decision Making

August 11, 2015

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:

Anchoring: Estimation is often a process of anchoring on a salient number and adjusting up or down. For example, we tend to anchor on recent past (present bias).
Availability: Events are judged more likely to the extent that they are vivid or easily recalled. A typical example: I was thinking of Jeff when the phone rang and it was him! Telepathy exits! while in fact I had been thinking of Jeff many times and he did not call and I wasn’t thinking of Jeff and he called.
Representativeness: Judging by similarity or stereotypes.
Overconfidence: For example, 82% of drivers feel they are in top 30% safe drivers.

How to get it right the first time? Miguel gave us some tips to incorporate in the decision making process to help us make better decisions. For example, learning a habit of seeking disconfirming evidence- i.e. looking for things that prove you wrong instead of looking for things that prove you right.

Thank you Miguel for this very enlightening session!

By Hugo, Coen, Nicola, Ali & Shaikha

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