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2017/2018 was the second outstanding year in a row for Executive Education, with revenues rising by 7% to €108 million – taking total growth over the past two years to 21%. In May 2018, the Financial Times ranked INSEAD #3 in the world for Open and Customised Programmes combined, our highest position ever. This performance is a direct result of an approach that meets client needs, collaboration by faculty and staff, and innovation in our portfolio and delivery methods.
During the year, we piloted our new Certificate in Coaching, directed by Professor Derek Deasy, to great acclaim from participants. Thanks to the unique content and programme design, each class is now running at full capacity and we are exploring expansion to three cohorts a year. We increased the annual runs of our Leading Digital Transformation and Innovation programme, which – along with our other programmes in the area of Digital Transformation – continues to be in very high demand.
An example of an INSEAD innovation for 2017/2018 is a new programme designed and delivered by Professor Subramanian Rangan, Integrating Performance and Progress. It was created for senior leaders who want to understand how to combine business results with positive societal change. This programme is unique and partners participants with leading philosophers who help them reflect on the challenges they face and find solutions for a better future.
Another new programme focused on contributing to business impact and societal progress is the Women Leaders Programme, directed by Professor Jennifer Petriglieri. Along with Leading Across Borders and Cultures directed by Professor Erin Meyer, these programmes are helping executives lead in an increasingly diverse global market, and high participation numbers demonstrate the interest in these topics.
Demand for our suite of Corporate Governance Programmes is still soaring. We are leaders in Director Education and have not only added a new cohort of the flagship International Directors Programme, but have also launched a specialist offering, the Advanced Strategy for Directors programme. Furthermore, in response to requests from past participants of the International Directors Programme, an Advanced Certificate in Corporate Governance was launched to enable board members to continue their directorial development journey with INSEAD.
2017/2018 was a particularly good year for programmes tailored to the needs of individual companies, particularly in our home markets of Western Europe, East Asia and the Middle East. Performance in France was our strongest ever. Unanticipated growth was seen in Indonesia and India, and the number of clients and participants on the Middle East Campus exceeded expectations. Further afield, we saw continued growth in the US, where demand is poised to rise even further in the coming year.
INSEAD strength and durability in the Customised Programmes marketplace is built on relationships with clients who have partnered with us on multi-run programmes at multiple management levels, often over many years. We would like to take this opportunity to thank our long-standing partners. Our fruitful collaborations go far beyond co-designing and delivering programmes to complete business transformation.
Our Customised Online clients continue to look to INSEAD for online solutions to education for top executives. For example, award-winning ventures with Microsoft, Accenture and Telenor have formed the basis of further partnerships. Moving forward, we will do more than simply update and refresh existing programmes, we will extend to new levels of management, new topics and new forms of delivery.
During the year, we also pursued the expansion of our open digital portfolio, which now consists of six distinct products. These products explore concepts like ‘leadership’, ‘communication’ and ‘gender diversity’, proving that online education INSEAD-style is certainly not limited to technical subjects or so-called ‘hard’ skills.
Reflecting the stellar performance of our digitally delivered executive education over the past few years, the online team has now been fully integrated into the department. This exciting development enables us to react to market needs more rapidly and improves our online capability. It also drives face-to-face and online programmes in a single strategic direction.
Indeed, our ultimate ambition is to ensure that the majority of INSEAD programmes – including our degree programmes – feature dynamic digital experiences. With this in mind, we have invested in delivery innovations that improve our production capabilities and quality.