Impact report 2024 - IMD’s impact in Vaud and beyond

Impact report 2024

Impact report 2024

IMD’s impact in Vaud and beyond

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Impact report 2024

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Impact intellectuel

Impact report 2024

Table of contents Foreword by President David Bach

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Introduction

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IMD at a glance

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Economic impact in 2023

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Educational impact

IMD’s alumni local impact Aurélien Demaurex, High Performance Leadership 2019 and 2020 Yassine Zaied, MBA 2005 Aurore Amaudruz, MBA 2020

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Business development impact

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Intellectual impact

IMD as a digital shaper

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Impact within the ecosystem

Enterprise for Society Center (E4S) impact IMD as a host and partner for regional events

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Societal impact

A sustainable campus Diversity, equity and inclusion (DE&I) initiatives

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Image impact

World Competitiveness Center media impact Testimonial: IMD as a Vaud AMBASSADEUR

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Impact intellectuel

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Foreword

IMD, Vaud and Switzerland 4

Impact report 2024

When I became President of IMD in September 2024, I outlined my vision: to build on IMD’s legacy of the past eight decades and establish it as the world’s most impactful business school.

This vision is only possible if we are driving meaningful change not only globally but also within our immediate vicinity. What is striking about the Impact Report 2024 – based on rigorous research, interviews and validated by the European Foundation for Management Development (EFMD) – is the depth and breadth of IMD’s impact on education, the economy and society in Canton Vaud, Switzerland and globally. These contributions have grown remarkably in recent years.

We are proud to be a strong pillar of the economy of Canton Vaud, contributing to its ecosystem by creating jobs, supporting local startups and innovation, enhancing executive capacities and engaging in research activities. Our total economic impact is almost half a billion.

Enrico Bignami, co-founder of IMEDE – one of IMD’s predecessor institutions – and Co-Managing Director of Nestlé, once wrote: “From the beginning, IMEDE’s structure and aims have been supported by the Authorities of the Canton of Vaud.” We remain deeply grateful for this enduring partnership, and we take pride in the value we have delivered to the region over the decades.

As IMD’s new president, I am honored to lead an institution that has outsized impact. Our students and our executive education participants (28,000 in 2023) – senior leaders from around the world – apply the lessons that they gain at IMD in their organizations, shaping decisions that impact employees, stakeholders and communities on a vast scale.

This transformative multiplier effect is the essence of our mission.

Looking ahead, we are committed to strengthening our ties within Vaud’s dynamic ecosystem while advancing our purpose to create a more prosperous, inclusive, and sustainable world. Together, we can amplify our collective influence to bring about meaningful change in the world.

Thank you for your continued collaboration, trust and support.

Very sincerely,

David Bach President and Nestlé Professor of Strategy and Political Economy

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Impact report 2024

Introduction 6

Impact report 2024

This report presents key findings from our local investigations across seven impact dimensions: economic impact, educational impact, business development impact, intellectual impact, ecosystem impact, societal impact, and image impact.

Our explorations were conducted in 2024, building on a previous impact analysis undertaken in 2019.

Recognition from the European Foundation for Management Development In recognition of completing this study and being on the forefront measuring impact, IMD was awarded the Business School Impact System label from the Brussels-based European Foundation for Management Development, one of the world’s premier business education associations.

The two expert evaluators from EFMD’s BSIS program praised IMD’s linkages with local partners.

In their final report, they wrote:

“By fostering innovation, supporting start-ups and contributing to the region’s intellectual progress, IMD helps to establish Lausanne and the Canton of Vaud as a centre of excellence in both education and entrepreneurship.”

Recognition from the Canton of Vaud IMD is a great supporter and booster of our innovation & startup ecosystem in the region. Thanks to the collaboration with IMD we are the only region in Switzerland to offer a training course fully dedicated for startups leading to scaleup. IMD is also very much involved in the field of sustainability, notably through the joint E4S initiative with EPFL and UNIL. Raphaël Conz Managing Director Office for Economic Affairs and Innovation (SPEI), Canton of Vaud Introduction

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IMD at a glance 8 8

L’IMD en bref

Impact report 2024

IMD is an independent academic institute with close ties to the business world and driven by an ambitious purpose:

Challenging what is and inspiring what could be, we develop leaders who transform organizations for a more prosperous, sustainable, and inclusive world.

Created and established in Lausanne, Switzerland more than 75 years ago, IMD operates throughout the world, with an Executive Learning Center in Singapore and a Hub in China.

In 2023, more than 28,000 participants from over 120 countries took part in the institute’s various programs, led by professors who are experts in their fields.

IMD boasts a faculty of 60 wordclass professors and its alumni network comprises more than 130,000 leaders and executives from over 180 countries. This extensive network and expert faculty underscore IMD’s commitment to providing world-class executive education and fostering a global community of business leaders.

The institute holds all three of the triple crown international accreditations (AACSB, EFMD and AMBA) and is accredited as a university institute by the Swiss Accreditation Council.

The institute additionally maintained a gold medal from sustainability rating leader EcoVadis, placing it in the top 5% of all enterprises assessed.

Furthermore, IMD programs are highly ranked by the Financial Times, Bloomberg Businessweek, Poets&Quants and other business media publications, and in 2023, 29 faculty won awards and recognitions from organizations including the Brandon Hall Group and Thinkers50.

8 Research Centers • Enterprise for Society Center (E4S), in partnership with UNIL and EPFL • Future Readiness Center • Global Board Center • Global Family Business Center • Center for Social Innovation • Sustainable and Inclusive Business Center • TONOMUS Digital & AI Transformation Center • World Competitiveness Center

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IMD at a glance

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Rapportreport Impact d’impact 2024 2024

Economic impact in 2023 At the Royal Savoy, we have witnessed firsthand the value that IMD visitors bring to our establishment. Their presence enriches our guest list. We also are pleased to host IMD events.

Alain Kropf General Manager, Royal Savoy Hotel, Lausanne

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L’IMD en bref

Impact report 2024

IMD’s activities generate a considerable economic impact In 2023, IMD directly added CHF 108m into the Vaud economy, mostly via salaries paid to employees living in the canton. In addition to this direct economic impact, IMD notably drives business tourism activity in the Lausanne Ouchy area.

Direct impact

Impact on business tourism

CHF 77

5.4 %

m

Paid to Vaud-based employees

Percentage of overnight stays in Lausanne by IMDconnected visitors, with 10,000 participants booking 52,000 overnight stays, contributing to CHF 11.6 in hotel revenue.

CHF 31m

Impact of student projects

CHF 3.6

m

Paid to Vaud-based suppliers

In-kind support annually to Swiss startups and firms by MBAs, EMBAs and E4S SMT students, via experiential learning projects and internships

Indirect impact

Impact on employment

CHF 18m

434

Spent by participants, students and visitors in Vaud

Jobs on the Lausanne campus, up 41% from 2016, plus 40+ additional full-time equivalent jobs in catering, cleaning and security services

Total economic impact

CHF 440

m

This estimate of the total financial contribution of IMD to the Vaud economy is calculated according to the methodology developed by EFMD as part of the BSIS label and consists of combining the amounts of direct (108m), indirect (18m), and induced (315m) financial impacts.

Economic impact in 2023

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Impact report Rapport d’impact 2024 2024

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Educational impact 28,000+ participants worldwide in 2023 12

Impact éducatif

Impact report 2024

Degree programs Each year, graduates from the MBA and joint E4S MSc in Sustainable Management and Technology (SMT) degree programs choose to stay in Switzerland following the conclusion of their studies.

Post-graduation Swiss-based employers of MBA and SMT graduates include Axa, Nestlé, PwC, Pictet, Romande Energie, Services Industriels de Genève and Zurich Insurance.

The EMBA program enrolls professional executives. In 2023, 45% of the 168 EMBAs were working in Switzerland, with Vaud companies represented include Ferring International Center SA, Intuitive Surgical, Merck Group and two Nestlé brands, Nespresso and Purina. Some of these companies contribute to participants’ tuition costs.

Executive education Executive education is IMD’s primary activity, contributing 85% of operating revenues. Offerings include open programs, company-specific custom programs, executive coaching services, talent development solutions and large-scale Sprint programs. Programs are offered in in-person, virtual and blended formats. During these programs, executives enhance their capabilities and effectiveness, creating value for their companies and their regions, including the Vaud region. For companies commissioning custom programs, IMD programs accelerate strategic transformations.

Many Vaud-based companies and organizations commissioned custom executive education programs, including Nestlé, Tetra Pak, the International Olympic Committee, Ferring Pharmaceuticals and Bobst Group. Other Swiss companies commissioning custom programs included ABB Group, Holcim Group, Straumann Group, Georg Fischer AG and Lindt & Sprüngli.

Going through the process (transformation program) helped all of us to become clearer about what our aspirations could be, what themes we needed to work on, how much of this was related to our core and how much of it was new, what was needed to make it happen and how we should make sure to maintain the innovation and the investment needed while financing everything else.

Gilbert Achermann Designated Chair of Sonova, Chair of Unilabs and Ypsomed, former Chair of Straumann Group, IMD EMBA 2000

Educational impact

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IMD’s alumni local impact

14’500 Alumni based in Switzerland

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Alumni events hosted by the Zurich Club in 2023

700

Alumni returned to Lausanne for overnight events in 2023

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Alumni events hosted by the Lausanne Club in 2023

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Alumni events hosted by the Geneva Club in 2023

3’000

Alumni based in Vaud

The IMD Alumni Network has more than 130,000 alumni in 180 countries. More than 14,500 alumni are based in Switzerland with some 3,000 in Vaud. Here, IMD alumni are woven into the fabric of the canton, working at multinational companies, small and medium-sized enterprises, in public sector entities and at startups.

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Educational Impact éducatif impact

Impact report 2024

Inspiring journeys of alumni in the Canton of Vaud High Performance Leadership 2019

Advanced High Performance Leadership 2020

Aurélien Demaurex Co-founder & CFO, Ecorobotix | Deputy in the Grand Conseil of Vaud | Member of the Innovaud Board

Aurélien Demaurex, the success of an alumnus active in agrotechnology and Vaud innovation “I usually say that IMD programs changed my life. I have never taken a course that brought me so much. And it goes beyond the purely professional framework, the positive fallout is in all areas of my life. I recommend it whenever I can, I have already sent several friends!”

After a few years maturing an idea, Demaurex and Steve Tanner launched Ecorobotix in 2014. Their idea was to use artificial intelligence and precision robotics to help farmers reduce their environmental impact, particularly the use of chemicals in the fields. A few prototypes and funding rounds later, Ecorobotix participated in the IMD Startup competition in 2018 and benefited from the advice of a team of six MBA students.

Picture of Aurélien G. Demaurex with an Ecorobotix machine

Aurélien G. Demaurex is an IMD alumnus who has become a successful entrepreneur. He is the cofounder of Ecorobotix, a Swiss company in the field of sustainable agricultural technology based in the Canton of Vaud and its Vice Chair and Chief Financial Officer.

He is also a deputy in the Grand Conseil of Vaud and a member of the Innovaud Board. In 2019 and 2020, he participated in the High Performance Leadership and Advanced High Performance Leadership programs that significantly transformed his way of leading and interacting with people.

Educational impact

Around the same time, Ecorobotix earned the Scale-Up Vaud label from Innovaud. This distinction is awarded to companies that are experiencing rapid growth, have international potential and have a positive impact on innovation in the canton. The label recognized Ecorobotix’s success in attracting significant outside investment and in creating jobs in Vaud.

In June 2019, another milestone was reached when the company obtained B-Corp certification for meeting the highest standards of social and environmental performance, legal accountability and public transparency.

The B-Corp certification was renewed in 2023.

Today, the scale-up has hundreds of machines in operation in 17 countries, employs 180 people and has raised more than CHF 100 million.

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Impact report 2024

MBA 2005

Yassine Zaied Chief Strategy Officer, Nexthink, MBA 2005

Yassine Zaied, driving growth and job creation at a tech unicorn After graduation, Yassine, who had been born and educated in Tunisia, moved to Egypt to take up an executive position at an industrial company. While in Egypt, returning to Lausanne was an aspiration and in 2008, he and Nexthink were reunited when he was hired by the firm as an executive manager.

Sixteen years and several promotions later, he is now the Chief Strategy Officer and the company operates the leading global digital employee experience platform serving clients including Starbucks, Johnson & Johnson and Volvo.

In November 2021, Yassine stood before a crowd of hundreds inside IMD’s M100 auditorium to accept Nexthink’s Prix Vaudois des Entreprises Internationales (PVEI) from the Vaud Chamber of Commerce. The PVEI event is annually hosted by IMD.

Yassine Zaied receiving the Prix Vaudois des Enterprises Internationales (PVEI) on behalf of Nexthink in November 2021

“I chose IMD because of the MBA program’s strengths in entrepreneurship and personal development,” explains Yassine Zaied (MBA 2005), now Chief Strategy Officer at Nexthink, the tech unicorn based outside of Lausanne in Prilly.

During his time at IMD, Yassine particularly valued Professor Benoit Leleux’s Entrepreneurship stream.

As part of the stream’s Startup Project, he and five classmates collaborated with two EPFL artificial intelligence engineers. “Their startup, Nexthink, barely existed at the time. We helped out, but, honestly, probably not that much.”

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“A couple of weeks earlier, we had achieved unicorn status, becoming the fourth Swiss unicorn and the first unicorn in Suisse Romande. That moment on stage was humbling for me, as I was able to say back to IMD and the professors, ‘What you taught me worked.’ I could express my gratitude.”

Since then, Nexthink’s scale has skyrocketed, with the company seeing its value more than double to over CHF 2 billion and the number of staff members in its Prilly office increasing from 250 to more than 400.

Reflecting on his life in Vaud, he shares, “In the morning, I can cycle in the countryside. Then I can be at Nexthink for meetings—or IMD or EPFL. Afterwards, I can be at an evening barbecue along the lake with a cosmopolitan crowd. That’s amazing. I can’t think of any other place in the world like it, and it started with my choice to attend IMD.”

Educational impact

Impact report 2024

MBA 2020

Aurore Amaudruz Co-Director, Energy Solutions, Romande Energie, MBA 2020

Aurore Amaudruz, pioneering Suisse Romande’s green energy transition The experience in the MBA program exceeded her expectations. “During the year, I learned so much about group dynamics, working with others and putting the ‘fish on the table,’” she says, with the last phrase coming from legendary Professor George Kohlrieser and referring to addressing challenges head-on.

The experiential learning activities in which she dove even deeper into the renewable energy sector were especially eye-opening, she says. For the Startup Projects activity, she collaborated with Pexapark, a Zurich-based power purchasing agreement specialist. For the International Consulting Project (ICP), the culminating two-month long capstone of the MBA program, her team worked with a full-service façade contractor transitioning to more sustainable activities.

Aurore Amaudruz at the E4S Showcase 2030 in November 2024

When Aurore Amaudruz was growing up in Lausanne, a relative told her about IMD, which she only knew of as the school behind the trees in Ouchy, and she remembers thinking, “Wow, it would be amazing to attend IMD one day.”

In 2020, that became a reality when Aurore became an MBA participant. This followed upon a decade of entrepreneurship in the energy field. “I had an engineering skillset and I knew that I needed to add leadership and organizational capacities to my Swiss Army knife,” she explains.

Educational impact

After graduation, Romande Energie (RE), the Morgesheadquartered energy supplier, recruited her for an executive role. She became the first woman on the management team. She presently heads a unit of 110 employees responsible for energy distribution to all market segments.

“RE’s aspiration is to make Suisse Romande the first netzero decarbonized region in the country,” she explains.

Since joining, the company has expanded its renewable offerings and smart grid technologies, achieving milestones in the journey towards net-zero emissions.

Aurore is incredibly proud of these successes. She also notes that the company hosts MBA ICP teams and has partnered with the IMD co-directed Enterprise for Society Center (E4S) on its net-zero initiatives.

As an engaged alumnus, Aurore mentors MBA candidates. “It’s fulfilling to help others and to give back to the program that gave me so much.”

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Business development impact IMD’s impact in the startup ecosystem 18

Impact sur le développement des entreprises

Impact report 2024

The Greater Lausanne Region is ranked #11 in the Emerging Startup Ecosystem rating by Startup Genome. The presence of IMD and the LeadiNNg to Scale-up program are mentioned as explanatory factors.

In a 2024 ranking by Venturelab of Switzerland’s Top 100 startups, 29 of the 100 startups were ones that had links with IMD—either via our Startup Competition or our LeadiNNg to Scale-Up program. Four of the top 10, including the number 1 company, Depoly, had worked with IMD. In addition, 9 of the top 25 scale-ups that are older than 5 years had worked with IMD.

29 of the top 100 Swiss startups in 2024 have ties with IMD

Business development impact

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Impact report 2024

IMD Startup Competition In the MBA and EMBA programs, participants partner with Swiss startups, collaborating to refine business models, improve market strategies, and increase the startups’ chances of success. Since 1998, more than 600 Swiss startups have benefitted from IMD assistance, many also being later recognized in the top 100 ranking.

LeadiNNg to Scale-Up with Innovaud The joint initiative LeadiNNg to Scale-up program launched in 2022 is a powerful collaboration between IMD and Innovaud supporting the Vaud startup community. The program is designed to propel Vaud-based tech companies from promising startups to fast-growing, international scaleups. Over the course of six months, entrepreneurs go through 10 sessions of 3-4 hours. Each session is a mix of inputs from IMD professors, joined by experienced entrepreneurs. The sessions are hosted on the IMD campus in Lausanne. To date, 56 founders and leaders have attended.

The LeadiNNg to Scale-Up program is a testament to the powerful collaboration between IMD and Innovaud. By leveraging IMD’s expertise in entrepreneurship/leadership and Innovaud’s deep connections within the local innovation ecosystem, we have enabled Vaud-based startups to achieve remarkable growth. This initiative not only accelerates their journeys from promising startups to international scale-ups but also reinforces the Greater Lausanne Region’s standing as a top emerging startup ecosystem.

Patrick Barbey CEO of Innovaud

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Business development impact

Rapport Impact d’impact report 2024

LeadiNNg to Scale-up attending companies have created more than 550 jobs in Switzerland and raised over CHF 200m in venture capital.

The BSIS experts concluded: “Moreover, IMD makes a wealth of valuable resources available to local companies through student internships, short-term projects and other curricular initiatives. This not only benefits the students but also provides tangible support to the surrounding business community.”

Impact sur le développement des entreprises

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Intellectual impact 22

Impact report 2024

#3

#4

233,000

most published in Harvard Business Review and MIT Sloan Management Review, behind only the editing institutions (Harvard and MIT)

in The Case Centre Impact Index in 2023 and 2024, a measure of case study readership

case studies sold in 2023 in more than 1,000 business schools and institutions in 74 countries

First Swiss National Science Foundation Grant for IMD Professor Sophie Bacq Sophie Bacq, Professor of Social Entrepreneurship and Coca-Cola Foundation Chair in Sustainable Development, along with Christina Hertel from the Geneva School of Economics and Management, University of Geneva, was awarded a significant research grant by the Swiss National Science Foundation (SNSF). Their project, titled “Unleashing Civic Wealth Creation Through Community Entrepreneurship,” will receive CHF 700,000 over the next four years. This grant is particularly noteworthy as it is the first SNSF grant awarded to an IMD faculty member since IMD became an accredited university institute. This funding will support the involvement of Ph.D. and postdoctorate-level researchers, furthering the project’s aim to explore how entrepreneurship can drive positive social change in communities.

IMD case studies in schools and universities around the world Case studies written by IMD Faculty and researchers are read and discussed by business school students and faculty globally. In 2023, more than 233,000 copies of IMD-authored case studies were purchased across more than 1,000 business schools and institutions in 74 countries – up 40% from the 166,000 cases sold in 2019.

Intellectual impact

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Impact report 2024

IMD research output in 2023

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49

FT50 articles

Awards

The FT50 is the Financial Times’ list of the 50 most influential academic and practitioner journals in business and management.

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106

141

631

Cases studies and related teaching material

Outputs in media outlets and I by IMD

Original books

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Academic and practitioner articles

Impact report 2024

IMD as a digital shaper IMD faculty members are actively involved in pioneering AI and digital transformation research and initiatives.

IMD has been recognized as a digital shaper, notably through the work of faculty members like Michael Wade, Öykü Işık, Amit Joshi and Arturo Bris, who were elected to the Digital Shapers Hall of Fame by the Digital Shapers index, a collaboration between digitalswitzerland and the newspapers Le Temps, Bilanz and Handelszeitung.

2024, it launched the AI Safety Clock which is a tool designed to evaluate the risks of an Uncontrolled Artificial General Intelligence – autonomous AI systems that operate without human oversight and could potentially cause significant harm. It evaluates AI’s progress, based on real-time technological and regulatory changes.

The objective is to communicate these risks clearly to the public, policymakers and business leaders, guiding informed decisions to ensure the wise development and use of AI technologies and helping to mitigate potential threats.

According to a December 2024 analysis, the AI Safety Clock is currently at 23:34. Midnight corresponds to a point where we would no longer control artificial intelligence.

Charting the Future: Switzerland’s Path to Generative AI Leadership in 2024 and Beyond

IMD’s research and thought leadership, such as the report co-authored with EPFL and digitalswitzerland, with IMD Professor Amit Joshi and IMD Chief Innovation Officer Sarah Toms titled “Charting the Future: Switzerland’s Path to Generative AI Leadership in 2024 and Beyond,” highlights key trends and insights on generative AI in Switzerland. This comprehensive study provides recommendations for Swiss policymakers, providers of continuing education and organizations to navigate the challenges and harness the potential of generative AI technologies. The report generated buzz on social media and was discussed at the January 2024 World Economic Forum in Davos.

The TONOMUS Global Center for Digital and AI Transformation is also dedicated to helping leaders navigate digital and AI transformation journeys. In October

Intellectual impact

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Impact within the ecosystem

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Impact report 2024

IMD joins forces with many partners in the Canton of Vaud, establishing close collaborations with multiple institutions.

BSIS experts concluded that “the impact zone of IMD as defined for BSIS assessment presents a concentration of world-renowned institutions that help to weave a very efficient network of partnerships that really impact and allow access to talent.”

na nto Ca

nerships l part

Loc al pa rtn e

Partnerships in Suisse romande h rs

ips

Academic partners

Professional institutions

Public authorities

The institute has strong partnerships with other Swiss universities such as the initiative with UNIL and EPFL to form the Enterprise for Society Center (E4S) since 2019. The joint E4S Master in Sustainable Management and Technology was inaugurated in 2021 and has now graduated two classes. IMD also collaborates with EPFL on the TransformTECH program and more recently announced a strategic partnership with the St Gallen Endowment for Prosperity Through Trade.

Impact within the ecosystem

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Impact report 2024

Enterprise for Society Center (E4S) impact UNIL-HEC, IMD and EPFL collaborate via the E4S Center to advance sustainability through research, innovation and education.

Prof. Jean-Philippe Bonardi E4S Managing Director, HEC-UNIL

The E4S Center harnesses the combined expertise of UNIL-HEC, IMD and EPFL to drive sustainable economic transformation. This collaboration not only fosters innovation and leadership but also significantly enhances the economic and social resilience of our region, positioning it as a hub for sustainable development and technological advancement.

2000+ Participants in E4S events

30 Research and innovation projects supported

8 White papers published

E4S Annual Summit 2024

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Impact within the ecosystem

Impact report 2024

IMD as a host and partner for regional events IMD co-organizes or hosts key events and forums

Swiss Federal Councillor Karin Keller-Sutter speaking at the Forum Horizon 2024 event organized at IMD (academic partner) by Le Temps. © Cyril Zingaro

IMD hosted the Prix Vaudois des Entreprises Internationales on November 2024, organized by the Vaud Chamber of Commerce and Industry (CVCI)

Accreditation professionals from nine Swiss universities convening at IMD in August 2024

Brotherhood of Pirates of Ouchy celebrating their 90th anniversary harvest on IMD’s campus in October 2024

Vice Chairman of Roche André Hoffman in conversation with President David Bach upon the launch of his book The New Nature of Business in September 2024

Jean-François Manzoni, IMD past President (2017-2024), speaking about leadership challenges at the annual general meeting of Centre Patronal in May 2024

Impact within the ecosystem

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Societal impact 30

Impact report 2024

Sustainability is embedded in IMD’s purpose to “develop leaders who transform organizations for a more prosperous, sustainable and inclusive world.” It is integrated throughout our degree programs and multiple executive education programs. IMD also recently introduced the Executive Certificate in Sustainable Business, which includes four new high impact blended learning Sustainability Accelerator programs:

• Measuring and Managing Sustainability Impact • Creating Value in the Circular Economy • Integrating Sustainability into Strategy • Leadership Skills for Sustainable Change IMD’s research output aims to inspire best practices and new business models with societal impact. There are three research centers prioritizing related themes: the Center for Sustainable and Inclusive Business (founded in 2023), the Center for Social Innovation and the Enterprise for Society Center (E4S), in partnership with UNIL and EPFL. They are complemented by the World Competitiveness Center and the Global Family Business Center, both frequently publishing content related to sustainability. Two books were also published in 2024: The Circular Business Revolution, a practical framework for sustainable business models by Julia Binder, Professor of Sustainable Innovation and Business Transformation and Leading the Sustainable Business Transformation, a playbook from IMD co-authored by Julia Binder and Knut Haanaes, Professor of Strategy and Lundin Chair Professor of Sustainability.

In 2024, IMD was recognized with an EcoVadis Gold Sustainability Rating for the second time in a row, placing it in the top 5% of educational institutions assessed. The rating measures companies on their policies, actions, and reporting in four key areas: environment, labor and human rights, ethics, and sustainable procurement.

Furthermore, the MBA program was one of the top-rated in Europe in the Corporate Knights Better World MBA Ranking 2024 which ranks the world’s top 40 most sustainable MBA programs.

IMD also supported the local community in 2024 through several volunteer initiatives which engaged IMD faculty and staff. These included participation in a Samedi du Partage food drive and an annual blood donation drive. Additionally, IMD also raised funds for cancer research through Steps for Cancer and Movember initiatives and collected items for Ukrainian refugees, as well as a Toy Drive before Christmas.

Partnerships IMD partners with academic institutions, organizations, and not-for-profits to advance sustainable transformation:

• Business Schools for Climate Leadership (co-founding partner) • Inner Development Goals (co-founding partner) • World Business Council for Sustainable Development • Principles for Responsible Management Education (PRME) (Champion Member) • B Lab • Swiss Boards for Agenda 2030 • TOGETHER alumni sustainability initiative

Societal impact

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Impact report 2024

A sustainable campus At IMD, sustainability is an integral part of campus operations. In 2023, a Green Council was established to oversee the implementation of actions identified to reduce the campus’ carbon footprint. Eco-friendly practices minimize environmental impact and promote a greener future.

1,400m2 solar panels on building rooftops, installed in 2024

19% reduction in scopes 1 & 2 and 6% reduction in scope 3 from 2021

Generating an electrical power of approximately 350 kW

3225 tons CO2 eq footprint in 2023

2 buildings connected to Lausanne’s district heating system

3.2 t less food waste in 2023

Contributing to the reduction of gas emissions

In addition, 72.5% of the meals were vegetarian (62.5% options were vegan)

An eco mobility initiative

Promotion of biodiversity

to encourage employees to travel by public transport and bike

Through insect hotels, green roofs, dry stone walls, and efforts to preserve old trees to maintain biodiversity on campus

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Societal impact

Impact report 2024

Climate Week

In addition to these initiatives, IMD hosts an annual Climate Week. In 2024, during the week, the restaurant invited local suppliers to present their products and highlighted them in the menu of the day.

In addition, a Repair Café was installed in partnership with EPFL Robotics Fix N’Replace to showcase how to repair broken household electrical items.

Societal impact

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Impact report 2024

Diversity, equity and inclusion (DE&I) initiatives IMD strives to build an inclusive, caring and high-performance environment.

The institute is on a conscious journey towards enhanced diversity, equity and inclusion. IMD strives to build an inclusive, caring and highperformance environment, ensuring that the working and participant environments are free from discrimination and are spaces for open debate with compassion and respect.

On campus, IMD promotes inclusion through a series of quarterly initiatives: International Women’s Day (IWD), Pride Month, Black History Month, and Disability Month. These events play a crucial role in educating and engaging community members. The initiatives also support local causes, exemplified by the IWD event in collaboration with SOS Futures Mamans, and during Disability Month, when we collaborated with Corps à Coeurs, a local association.

IMD ensures a diverse student body by offering scholarships aimed at underrepresented groups, making high-quality education accessible to all. For example, the BackPack-Excellence Scholarship for Women awards a transformational full-tuition MBA scholarship to talented and driven women enrolling in the program.

Beyond the campus, IMD’s thought leadership has contributed to global DE&I discourse through impactful research. For instance, articles have been published on bias in AI chatbots, chronic or invisible disabilities, and inclusive language. IMD’s whitepaper “Inclusive Language and Images” co-authored by Affiliate Professor Heather Cairns-Lee and Alexander Fleischmann was prominently discussed at the World Economic Forum in the Female Quotient’s Equality Lounge.

IMD’s collaboration with Philip Morris International (PMI), whose headquarters are in Lausanne, underscores its collaboration with Vaudbased companies. The “Inclusive Future” project provides a comprehensive framework for measuring and enhancing inclusion and inclusive leadership within organizations and has been applied in PMI’s Lausanne office.

This collaboration highlights IMD’s influence on a major Swiss company, demonstrating the school’s commitment to fostering inclusive practices within the business community.

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Societal impact

Rapport Impact d’impact report 2024

The institute’s DE&I commitment is beautifully symbolized by the rainbow tree, painted by community members during Pride Month.

This vibrant artwork represents the unity and diversity of the IMD community, celebrating every individual’s unique contribution.

Societal impact

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Rapportreport Impact d’impact 2024 2024

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Impact report 2024

IMD contributes to Lausanne’s reputation as an academic center of excellence and as a startup and innovation hub.

IMD often appears in the media and has a robust presence on social media platforms, particularly on LinkedIn (260,000 followers). The world-class faculty are thought leaders who regularly share their insights in the media at local, national and international levels, bringing positive attention and recognition to Vaud.

I by IMD Designed to spark conversation and deliver actionable insights, I by IMD, the institute’s multi-platform content hub, has a readership of over 600,000 unique users. The magazine is available on the in-flight channels of SWISS Air and Lufthansa and in selected business hotels.

600,000 120,000 80,000 Unique users

University libraries carry the I by IMD magazine

Downloads of I by IMD podcasts

Rankings In the widely followed business education rankings, IMD is globally recognized for its outstanding academic offerings, consistently placing among the best in the world.

• The MBA program was ranked #1 in Europe in 2024 by Bloomberg Businessweek and in the top 10 in Europe

by Poets & Quants in 2023. It is also ranked #1 in international faculty, international students and faculty with doctorates by the Financial Times. It is #1 in Switzerland in all three rankings.

• Additionally, the newly redesigned MBA program was recognized as the 2024 MBA Program of the Year by Poets & Quants, the leading website covering graduate business education, due to the integration of an AI-driven curriculum.

• The EMBA program was ranked #17 worldwide in 2024 by the Financial Times and #1 in international faculty and faculty with doctorates and #5 in work experience. It is ranked as the #1 program in Switzerland.

• In the executive education area, IMD was ranked #3 in custom programs and #9 in open programs by the Financial Times. In both cases, it is #1 in Switzerland.

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Impact report 2024

World Competitiveness Center media impact The IMD World Competitiveness Center (WCC) publishes the World Competitiveness Yearbook and is in its fourth decade of research on how nations and enterprises compete to lay the foundations for prosperity. The WCC also publishes the IMD World Digital Competitiveness Ranking, the IMD World Talent Ranking, the Hinrich-IMD Sustainable Trade Index and the IMD Smart City Index.

Switzerland in the WCC rankings

#2 Switzerland in the World Competitiveness Ranking 2024

#2 Switzerland in the World Digital Competitiveness Ranking 2024

#1 Switzerland in the World Talent Ranking 2024

Three Swiss cities in the Top 10 of the IMD Smart City Index 2024

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Zurich

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Oslo

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Canberra

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Geneva

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Singapore

06

Copenhagen

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Lausanne

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London

09

Helsinki

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Abu Dhabi

The IMD World Competitiveness Center helps inform global policy discussions, with our rankings influencing public policies in many countries -- including Switzerland -- that have incorporated competitiveness as a key objective.

Arturo Bris Professor of Finance and Director of the IMD World Competitiveness Center

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Impact report 2024

Testimonial: IMD as a Vaud AMBASSADEUR

Vaud Promotion launch event at IMD, September 2023

IMD, a pillar of the Vaud academic environment with international influence

The Canton of Vaud stands out among the best in the world for its academic offering.

Its territory hosts no fewer than 14 higher education institutions, including IMD, allowing the people of Vaud to access a high-quality education and attracting students from all over the globe. Recognized in Switzerland and abroad, IMD shapes the leaders of today and tomorrow. It illustrates the academic excellence of the canton, thus contributing to its reputation. It is therefore only natural that it is labeled VAUD AMBASSADEUR. Launched in 2022, the VAUD AMBASSADEUR community brings together more than 60 institutions and companies that reflect the excellence and know-how of Vaud. Labeled on the basis of 23 demanding criteria in terms of respect, ethics and sustainability, they make the canton shine and proudly display the colors of the VAUD brand. This territorial brand, carried by Vaud Promotion, aims to increase the visibility, competitiveness and attractiveness of the Canton of Vaud.

IMD is a school renowned worldwide, which embodies the incredible dynamism of the academic sector in Vaud. Its international vocation and its strong local roots are crucial for entrepreneurs and the regional economy. We are very proud to have it among our “AMBASSADEURS”.

Michel Rochat Président de Vaud Promotion

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Impact report 2024

Chemin de Bellerive 23 | P.O. Box 915 CH – 1001 Lausanne | Switzerland Tel: +41 21 618 01 11 Fax: +41 21 618 07 07 www.imd.org 40

Impact sur le développement des entreprises