23 November 2005
Madrid, November 22 2005. Students from 40 countries from IE's MBA and the International MBA programmes took part last 22 November in the final stages of the Imagination at Work competition, organised by IE and General Electric to promote the development of innovative projects in the American multinational.
Participants drew up strategic development proposals for GE and presented them to Ferdinando Beccalli, President and CEO of General Electric International; Mario Armero, President of GE Spain and Portugal; Ignacio de la Vega, Director of Entrepreneurship at Instituto de Empresa; and executives from various business units at General Electric. Among the seven finalists, a credit card loyalty plan received the 1st prize. The plan was authored by five MBA students: Luis Manuel Alves Ferreira and Daniel Alves, from Portugal; Gregor Minder, from Switzerland; and Pablo Divasson del Fraile and María Merce Serra Pujol, from Spain.
Participants worked in multidisciplinary teams and developed projects tutored by business leaders from GE and Instituto de Empresa in the following business units:
::GE Commercial Finances-Fleet Services: Competitive analysis of the car rental market in Spain
::GE Consumer Finances-Money Bank Spain: Credit card loyalty plan
::GE Consumer Finances-Money Bank Spain: Analysis of the Spanish mortgage sector
::GE Consumer and Industrial: Sales plan for the approval and sale of products from the GP Consumer & Industrial products division (Sewage plants (EDAR), Water processing plants (ETAP), Desalination (EDAM) and Pumping plants).
::GE-NBC Universal: Viability plan for creating in Spain the film producer NBC universal.
::GE Corporate: Analysis of customs and logistic haulage markets in Spain.
::GE Advance Materials-Plastics: Business plan for production and sale of ecological thermoplastics for the Spanish electrical sector.
After the presentation, the GE executives selected the most brilliant project, which is to receive financial aid. As in the previous edition, some of the finalists will be able to join the General Electric team at the end of the International MBA programme in order to put their projects into practice in the company.
Hence Instituto de Empresa, through its Entrepreneurship Department, reinforces its commitment to train executives with an entrepreneurial spirit, vision, a capacity for innovation, analysis and implementation of new projects, in business start-ups, family businesses and large corporations.