Alumni Magazine 2014_Inglés

Alumni MagazineBusiness school

no. 3, march 2014

alumni.incae.edu

incae tapaverde ingles.indd 2-3 3/28/14 3:28 PM

incae tapaverde ingles.indd 4-5 3/28/14 3:28 PM

incae Alumni Magazine 1

A Message from the Rector

50 years of incae

Dear incaístas:

am happy to present to you this edition of the Alumni Magazine, framed in the celebration of our fiftieth anniversary, and that aims to share with each of you all that

sense of belonging to an institution that, more than just educating, transforms professionals… to transform Latin America.

I want to dedicate this edition to each and every incaísta of the more than 14,000 professionals, who are members of the network.

Those of you who still accompany us in the task of changing Latin America, be assured that our doors will always be open to receive you and to help you in your worthy professional and personal cause in favor of sustainable progress for all. And for those of you who have left a mark here at incae, thank you for having been a part of the history of this institution—we have no doubt that your testimony will continue to ins pire our actions.

incae’s mission has been conserved these 50 years and I am sure it will continue to be the cornerstone that will also uphold our future in history. Yes, we all have the responsibility of continuing to write [what we are all about and what we do] to serve as an inspiration for the future incaísta generations.

Enjoy it!

I

Arturo CondoRector

2 incae Alumni Magazine

incae 50 years

50 years illuminating Latin America

Contentincae Alumni Magazine

3rd edition / No. 3March 2014

PresidentArturo Condo

Dean of FacultyJohn Ickis

Dean Executive EducationCamelia Ilie

Executive Vice PresidentEnrique Bolaños

Director of Development and National Committees Coordinator

Wendy Rodríguez

Director of Alumni RelationsSandra Granizo

Editor Vicky Santana C.

PublisherSumma Media Group

Contributing WritersLuis Ernesto Solís, Claudia Contreras, Luis Diego

Quirós, Johana Camargo, Vicky Santana C.

Graphic DesignersMartha Cadena, Jonathan Duque

Artemarca

Copy Editor SpanishOrlando Plata González

Copy Editor EnglishAlcira Blanco

TranslatorsGonzalo Hernández, Rosa Isabel Ojeda, Ed Goodman

PhotosPhoto Archive incae, Summa Magazine, Archives

Individual Photos

Additional SupportAlejandra Abarca, incae

incae Alumni Magazine is published by incae Business School

www.incae.edu

A Message from the Rector 1

Briefcase50 years illuminating Latin America 3

Philanthropy and social investment: Learning how to give 7

Commitment with Panama 10

Spinning the web 14

Committed to growth 17

SpotlightRodolfo Jiménez: From the laying of the foundation-stone 20

Roberto Motta: The right tools 23

Jenaro Sánchez: Keep on dreaming the incae dream 26

Eduardo del Carmen: Multiplying Factor 30

Lead playersEfraín Vieira: A life plan 32

Yara Argueta: An indefatigable mentor 36

Gastón Monge: An executive with lots of miles on route 39

Manuel Zúñiga: Music and Business 42

Marisol Arias: In black and white 46

incae has surmounted infinite setbacks, but the most important part of its history has been the great success it has had in training thousands of business professionals from diverse cultures. It’s a true birthplace of business leaders.

50 yearsilluminating

Latin AmericaBy

Luis Ernesto Solís

n the 1960s, George Baker, dean of the prestigious Harvard Business School, gave George Cabot Lodge, then a professor at this renowned institution, a

unique mission: to shine the light of the school into developing countries. Cabot Lodge met with friends at the State Department to tell them about his mi ssion and to get their opinions on where the best region to spread that light would be.

Cabot Lodge tells the story: “My friends told me that President Kennedy had given an emotive speech in Costa Rica. So what about Central America? Everyone’s working to try and bring the region together and there’s definitely a need to train mana gers for both public and private positions.”

During the summer of 1963 a team of nine people led by George Cabot Lodge surveyed more than four hundred Central American luminaries, including university presidents, government

I


BRIEF CASE

50 years illuminating Latin America

6 times

incae has taken first place in the Latin American ranking of best business schools of ae.

officials and business leaders. After meeting with the Harvard team, a group of Central American leaders were selected to form the first Board of Directors of incae, representing all six countries in the isthmus.

The Salvadoran leader Francisco de Sola undertook the enormous responsibility and challenge of leading this council until his death in 1983. The Council quickly formed National Committees to promote the idea of incae across the region and began to raise funds for its programs.

“The first challenge to make this a reality was to find a leader. One name stood out: Francisco de Sola. All my contacts told me that if we wanted to succeed then he was the perfect man for the job. There were many times when we thought that everything would only be an idea, but Francisco never gave up. For me, he was the real founder of incae,” says Cabot Lodge.

In June 1964, the team launched a fundraising campaign among the business community of Central America and collected the first us$2 million, which formed the initial endowment for incae. This initiative began a tradition of fundraising within the private sector, hitherto unknown in the region.

The first Advanced Management Program at incae was held in Antigua (Guatemala) in 1964, followed by similar programs in Panama, Costa Rica and El Salvador. The campus in Nicaragua was opened in 1967. Its construction was the result of a joint effort between Harvard, usaid (which granted a us$10 million loan to the Central American Bank for Economic Integration) and business leaders from across the region, who gathered together us$2 million for the endowment.

Never give upIn 1972, an earthquake hit Managua (Nicaragua), destroying the city. The incae campus was also affected. Harry Strachan, president of the institution in 19811982, during the earthquake crisis, led a plan for the school to contribute to the dramatic situation of the country, and since

then incae was born as a school not only to develop leaders but as a thinktank that generates research for decisionmaking leaders

from multiple sectors at a national and regional level.“I led a reconstruction plan, which I presented to representatives of the World Bank

incae 50 years


BRIEF CASE50 years illuminating latin america

I’ve always said that what doesn’t destroy you, makes you stronger, and that’s exactly what happened in the case of incae.

Harry Strachan.

and the u.s. government. After a while, they agreed to give us a loan of us$1,000,000. As a result, we were able to continue offering mba programs to the Community of Central America. I’ve always said that what doesn’t destroy you makes you stronger, and that’s exactly what happened in the case of incae,” observes Strachan.

Wickham Skinner, a professor at Harvard Business School, says that he traveled more than thirty times to Nicaragua during the early years of incae. “I went there to write cases. I was surprised at the enthusiasm of those first Central American students. They were all very interested in everything, especially in those first cases we presented to them,” he says.

Cabot Lodge adds that one of the most important features of incae is that right from the beginning it was independent. “incae was independent from Harvard, independent from any government. A fully independent institution whose sole purpose was to create leaders,” he stresses, adding that at that time it had over forty researchers studying more than eight hundred cases. “We organized the first group of researchers. We trained the Central Americans to be the first professors,” he says.

Thanks to this momentum, the second campus of the business school was opened in 1984, in Costa Rica. Under the command

of Walter Kissling Gam, it became one of the most important in the region. After the Sandinista revolution in the 80s, incae was forced to open a second cam

pus in 1984 in Costa Rica. Ha rry Strachan and Marc Lindenberg were the presidents that managed the transition at the time. And after the sudden death of Francisco de Sola, Walter Kissling of Costa Rica accepted the position of Chairman of the Board as the successor of “Don Chico”. Kissling’s Gam sons, Walter and Manfred, said that incae was the heart and soul of his father. “He wanted to study at a university, but he could never finish his studies. He managed to be successful, but was always clear about the importance of education. Dad always told us that the only thing he could leave his children was a good education,” said Walter Kissling J.

The New Millennium... The perfect opportunityIn the 1990’s, the region changed its agenda from the political to the eco nomic. At the Conference in Rio de Janeiro in 1992, it was defined that the world had reached the limit in the use of scarce resources. According to Brizio BiondiMorra, president from 1991 to 1997, “ the development per se was destined for disaster if they

Percentage of women currently studying an mba

34 %

2.705Number of

female students.


incae 50 years

Aprender a dar

failed to balance social and environmental issues.” With the philanthropic support of Stephan Schmidheiny, “something we (incae) knew how to do very well was to unite the concepts of sustainable de velopment, ecoefficiency and management of scarce resources, not as limiting but as integral elements of prosperity, competitiveness and growth,” the first president graduated from incae and current Chairman of the Board, Roberto Artavia said. Under his leadership, the school was guided effectively to ward these concepts, and today all incae programs

address the issue of sustainable development as part of a global learning, says Arturo Condo, current president and graduate mba from incae.

Playing an important roleCafé Britt, a Costa Rican company characterized for its international expansion (it has stores in eight countries), among many other businesses in the region, identifies incae as one of the keys to its success. Steve Aronson, the company’s founder, says that Costa Rica as a country was go ing through an important development phase when they were focused on exporting a gourmet product. “incae laid out the route to success. Thanks to the help of the institution, we were able to quintuple the business,” he says.

Carlos Pellas, ceo of Grupo Pellas and current VicePresident of the Board, says that incae has promoted economic integration in the region. “incae plays an important role in Central America. It has taught us how business is done transparently. The institution has more than 14,000 graduates, who have created thousands of jobs in the region,” he states.

The future For 50 years, people from North, Central and South America have helped build this institution. incae is more than

a management training school; it is a force in society, and that makes it unique. “incae has the special opportunity to make a big impact, much bigger than its size,” says Michael Porter, professor at Harvard.

For Arturo Condo, “the next 50 years we will attract leaders from around the world, from all walks of life, who are committed, motivated and wanting to build a new incae.”

incae didn’t have to depend on Harvard or any government. It’s always been an independent institution, focused on creating leaders.

Percentage of women graduates of the mba

21,8 %

2 incae graduates have become presidents of their countries.

Do you need support to improve the effectiveness of your philanthropic activities? incae’s Philanthropy and Social Investment Program has been created specifically for that purpose.


BRIEF CASEBRIEF CASE

By

Luis J. Sanz

Ph.D., full professor of finance at incae

Business School and the Strachan Chair

in Philanthropy and Social Investment.

Consultant in finance, corporate gover-

nance and family companies.

id you donate money last year? Did you donate time last year? Did you help a stranger last year? Have you given advice to a public official during the past year? Over the last twelve months we carried out a survey asking graduates these simple questions in preparation for the International Meeting of incae graduates held at the Walter Kissling Gam campus in October. The results were very interesting. Half of the respondents (51.49%) stated that they donate time or money more than three times a year, and more than threequarters said it was

D

Aprender a dar

Philanthropy and Social

Investment:

Learning how to give


incae 50 years

important to do so effectively. However, the results show us that they follow very different strategies when donating which are not necessarily in line with international best practices. These results are very similar to those we uncovered during indepth interviews with 23 philanthropists from the six countries of Central America. In this context, the objective of the Strachan Chair in Philanthropy and Social Investment in the region is to encourage a greater and more effective philanthropic culture in the region. In this context, the objective of the Philanthropy and Social Investment Program is to encourage a greater and more effective philanthropic culture in the region.

A deeper look at graduates who donate allowed us to identify three important groupsbenefactors, senior gogivers and young gogivers (percentages in brackets are relative to the total of what they said they donated in time or money):

• Benefactors (40.37%): donate money more than three times a year, do not donate time, but do give advice to public officials. They donate individually, with no specific focus. Religion is not important either as motivation or as a channel. Their ages range from 41 to 50 years, they are married, have children, and hold senior management positions.

• Gogivers: donate time and money, but differ depending on the profile.

The senior (34.38%) gogivers have a similar profile to the benefactors, but religion is very important to them, both as motivation and as a channel. They also focus on basic

needs such as education and health. Meanwhile, the young (12.90%) gogivers, aged between 31 and 40, are single, have no children and hold functional management positions. Religion is not as important as a vehicle, they prefer ngos, although more as a motivating factor. They have a similar approach to the senior, but do not give advice to public officials (they may not know many yet).

Meanwhile, the Central American philanthropists we interviewed, who are driven by their values and beliefs and the potential impact on the community, focus on supporting initiatives in education, health and nutrition, within their community or country. They separate csr activities from philanthropic activities, and assume the latter much more on a personal basis. Approximately half do not measure the impact of their donations.

How do these results compare with the international experience? The field of philanthropy has changed substantially over recent years. With the United States being the main international reference point, in recent decades we’ve seen an ever growing number of successful entrepreneurs (Buffet, Gates, etc.) dedicate a significant portion of their fortunes to these types of activities. But many of these entrepreneurs have also revolutionized the field by not considering philanthropy as a gift or charity, but rather as a social investment. As a result they‘ve focused on including many of the principles and practices that made them into successful entrepreneurs in the

The program will seek to increase both social investment and its effectiveness in Latin America.


BRIEF CASE

field. They’ve primarily done this, although somewhat polemically, by measuring the impact of donations and programs.

This “revolution”, as some call it, has even gone so far as to applying principles of risk capital to social investment, developing the concept of “venture philanthropy”. And while some experts argue that it’s not always possible to measure the impact, all seem to agree on the importance of improving efficiency in the philanthropic world. Of course, making an impact on your own is very difficult, and that was the main reason Warren Buffet chose to donate a large part of his fortune to the Gates Foundation, while seeking maximum impact and sustainability. Although incae graduates, given their business training, are able to follow these international trends, the evidence seems to suggest that the majority don’t. The philanthropists we interviewed do not.

This is where the Philanthropy and Social Investment Program, which was launched in January 2013, comes into play. It was mainly funded by the Strachan Foundation and other donors who are close to its founder and ex incae president Harry Strachan.

The program has two goals: to inspire leaders and family groups to be actively involved, and from very early on, in philanthropy and to de velop teaching modules for the differ ent mba programs such as the incae Advanced Management Program (pag). The program has a fulltime researcher and the professors Luis Sanz and Andrea J. Prado work parttime. It also

has an Advisory Committee made up of the businessmen and philanthropists Harry Strachan (Costa Rica), Dania Baltodano (Nicaragua), Arturo x. Sagrera (El Salvador), and Sabrina Bacal (Panama).

So far the program has been focused on performing, on the one hand, an analysis of international best practice, including the Social Enterprise Initiative at Harvard Business School, and on the other hand to understand the current state of philanthropy in Latin America. To help reach these goals we’ve carried out both the aforementioned survey and the interviews, and we’re going to implement a survey of the foundations operating in the region. As a result of this research, we’ve designed what will be the first mo dule in Philanthropy and Social Investment. It will be taught in the mba program. We’ve also carried out live cases in the pag of July 2013 (Proyecto País, with Arturo x. Sagrera) and in the pag of January 2014 (Sponsoring Schools with Dania Baltodano).

The future activities of the Chair will focus on the development of the syllabus and teaching materials needed for the module, and will combine live cases with the program when appropriate. In the near future it also plans to offer training programs for graduates and philanthropists, so we can help them increase the effectiveness of their philanthropic support, change the perception that donations always have to be in cash and only as charity, and that we can increase both social investment and its effectiveness in Latin America.

This “revolution” has even gone so far as to apply principles of risk capital for social investment, developing the concept of “venture philanthropy”.


incae 50 years

éctor Cotes and Carmen Sealy de Broce opted for a Higher Education at incae, and today they are not only reaping the results of that decision but are also members

of the incae Alumni Association, Panama chapter (agi Panama). Their goal is to create a common space that promotes the connection of incae graduates, enables its members to share relevant knowledge of current issues and brings together the agi Panama community, entrepreneurs and experts of various areas of interest.

The Simón Vega Berbey ScholarshipBased on that premise, a few decades ago, agi Panama was created in Panama, but it was only until in mid2009 when this organization was reactivated in the hands of its former President,

H

US$ 47 thousand

has been disbursed by agi Panama in scholarships up to now.

Commitment withPanama

As if it were a magic formula, those who complete their Higher Education studies in the best business school of Latin America, incae, end up being successful leaders and entrepreneurs. Their stories suggest that this educational center provides the necessary tools to transform companies and organizations in Latin America and the whole world, as established in one of the objectives of this educational institution.

By

Johanna M. Camargo

© José Porras

agi Panama works to guarantee that many in Panama have access to a privileged education.

INCAE GRADUATES ASSOCIATION-AGI


BRIEF CASEincae graduates association-agi

Carmen Broce. Before her, the current President of Panama, Ricardo Martinelli Berrocal held this position. Cotes currently leads this entity. Cotes and De Broce are convinced that as graduates of incae they can have more influence than any publicity to encourage students to study in this business school.

One of their main goals is to ensure that each day more Panamanians have access to Higher Education tools that can radically change the direction of their professional career and work environment; and thus they are working in order to award scholarships to Panamanian students to study mbas at the incae through a fund created in the year 2010. This contribution is financed with activities organized by the members of AGI Panama, the most important of which has been the xii Congress of incae Alumni, in which the keynote lecture was presented by Álvaro Uribe Vélez, former President of Colombia, with the theme “Confidence: The synergy between the State and the private sector”.

The former President of agi Panama believes that, although they do not have any partnerdonors in the region, upon the reactivation of this organization, graduates themselves who live in the Canal Nation will become donors of the Simón Vega Berbey scholarship, which was named in honor of an illustrious Panamanian and pioneer who graduated with distinctions with the first graduation class of incae (mae i). The scholarship covers 50% of the total tuition, accommodation and food expenses (at the incae campus) of the residential Master´s Degree Program. Up to date, agi Panama has disbursed us$ 47,000 in scholarships.

To qualify for this benefit, the candidate has to be Panamanian, of legal age, be previously admitted to the mba Program of incae, fill out the scholarship application, have

xii Graduates Congress of incae

Héctor Cotes’05previous education: Industrial Engineer and mba in Finance from the Universidad Nova Southeastern, summa cum laudeincae: maex’05, graduated with High Honorscurrent position: Chief Financial Officer of Grupo Eleta. Panama

Panama

You have to have passion and perseverance in these types of groups, learn how to manage your time between philanthropy, family and work; being aware that if you dream something, you can achieve it.

INCAE GRADUATES ASSOCIATION-AGI


incae 50 years

excellent academic performance records of his/her Bachelor´s Degree studies or equivalent, submit his/her resume (it is recommended that the individual demonstrates relevant work experience) and sign the Commitment Letter with the agi Panama, which stipulates that when the winner of the scholarship completes his/her mba, he/she must return to work in Panama. Additionally, the principles and values as well as the emotional intelligence of the candidates are taken into account to determine how committed they are with their desire for selfimprovement. After completing their High Education studies, graduates will have the necessary tools to resolve any situation from different perspectives “because incae teaches you how to identify which is the real problem in a particular situa tion and how to find alternative solutions depending on the objective that you want to achieve. This occurs because the institution prepares you to be a manager of any company in any industry,” De Broce explains.

Tools that change livesAlthough she thought that her life would always revolve around electric plants, the former President of the agi – Panama chapter confesses that when she returned with her Master´s Degree, everything changed. And the fact is that she, who is also Vice President of Platinum Global, was sure that she had all the tools to walk firmly towards better employment positions. Although this did not happen immediately, in the medium term, she received a call from the incae Costa Rica office announcing that the owners of a foreign company were looking for a Ge neral Manager and wanted the person to be an incae graduate. She competed for the position and won, and since then, she has not stopped advancing in her professional career because “at that time, the needs of a company and the knowledge that I had

acquired years ago in my school of business had converged,” she declared. After working for five years in that position, De Broce ventured into the area of Human Resources Management in di fferent companies, a position that she holds until today; but this time in her own company, which she founded more than fifteen years ago.

As a mother, she trusts and that her children will want to follow her steps when they compare the life of other professionals with that of their parents, both incae graduates, who enjoy today with experience and knowledge the results of their work. She considers that both she and her husband studied cases of realities of Latin America that they put into practice in their own

Carmen Sea ly de Broce’85previous education: Industrial Engineerincae: mae´85current position: vpe Platino Exec Search and aydesa. Managing Shareholder Splendor Tours s.a. Panama

Panama

Carmen Sealy de Broce with her family in Panama.

© AGI Panama



incae changes the way you think and decide. It gives you a profile of debate and teaches you that the right idea is the one that is best supported.

Live incae, be incae INCAE graduates have the commitment to give back to the society the

opportunity they had to obtain excellence; it is only necessary to find the instruments to do it. Héctor Cotes.

work and increased the network throughout Latin America by being graduates of the incae.

Furthermore, Cotes affirms that all incae graduates have the commitment to give back to the society the opportunity they had to obtain an excellent education and that it is only necessary to find the instruments to do it; and the agi does it through the scholarship it awards. Cotes was the Risk Manager of the Canal Expansion Project, the Operations Vice President of ProFuturo and today is also the VicePresident of the Panamanian Association of Business Executives (apede). Cotes exalts the importance of obtaining a Higher Education because it opens more options to reach leadership positions and, why not, to be entrepreneurs and constitute a company of one´s own. “incae changes the way you think and decide. It gives you a profile of debate and teaches you that the right idea is the one that is best supported.” And he adds to the list that the incae graduate is often a mixture of experience and knowledge, that he/she does not just remain just planning but also knows how to execute.

He points out the importance of integrating into Pro Bono associations like the agi, to help those less fortunate, but recognizes that this group may be social or professional depending on the interests and age of each incae graduate. “Associations give you the opportunity to promote ideas and contribute through them options that enable you to express yourself and listen to others, and at the end state a point”.

“You have to have passion and perseverance in these types of groups, learn how to manage your time between philanthropy, family and work; being aware that if you dream something, you can achieve it,” Cotes declares. “Therefore, we hope that by mid2014, the legal structure of the agi Panama will be consti tuted as a nongovernmental organization so that all of the donations that will be received will be taxdeductible because we already have many people interested in the project.” In the short term, the President of this incae chapter expects to continue conducting the training programs and activities that will contribute with the formation of new leaders.

incae graduates association - Panama

INCA

ISTA

50 % Of the total

costs(tuition, accommodation and food expenses at the INCAE campus) are cover by Simón Vega Berbey scholarship.


incae 50 years

Javier Clausen leads the incae network in Costa Rica, the largest in the area.

eeting Javier Clausen is quite an experience. In addition to his direct but amiable character, his office is like a minimuseum of modern art: showcasing sculptures, exotic furniture and an extraordinary view out onto an area of lush vegetation. It’s obvious that this lawyer, stockbroker and graduate of the incae Business School, is an art lover with very good taste.

Clausen has been chairing the Association of Graduates of incae Business School (agi) Costa Rica chapter. In addition to being one of the founders of this group of volunteers, he believes that his passage through the school was one of his “most rewarding experiences.”

M

Spinning theBy

Luis Diego Quirós

Javier Clausen’02previous education: Law, uaca, Colegio Académicoincae: maex´02current position: Clausen (Law Firm), Legal and financial advice. Costa Rica

Web



Costa Rica’s agi is relatively new and according to Clausen, ran up against a series of barriers to maintain its operation in preceding decades. With a selfassurance that’s evident when this businessman talks, it’s no surprise that thanks to drive and persistence, excellent results have been swift to materialize.

Eight years ago a call was sent out to set up a group to represent incae graduates. “I came along without any particular expectations, but during the event I was invited to participate in the short list, and we all submitted our resumes. They appointed me right there in first meeting.” Back then there were just over eighty members. Costa Rica’s agi now boasts over two hundred.“The association aims to provide help to the community, hosting talks by professors and toplevel speakers for the community in general and of course the incaístas. The board hosts a social function to support this goal. incae has become a driving force of thought in the region and I think that as graduates we can provide assistance to academia and the community in general. I believe our goal is to make a difference in our societies,” he says proudly.

Business objectives Sitting on a modern seat, fashioned from the fuselage of an aircraft, this Costa Rican businessman narrates the positive

experiences he’s had during his time at agi. He highlights the cases of people who after participating in their discussions and activities have been motivated to go and start their own businesses. “On three or four occasions we’ve experienced very emotional moments, where people have approached

us to thank us for these conferences, because they were the inspiration for them to decide to branch out on their own and become independent. These things are priceless and make all the difference for me,” he says.

The talks provided by this association are low cost, but if they were put on elsewhere, or for profit, they’d cost somewhere in the range of us$400 to us$500 per head. The idea of the members is that everyone should to be allow ed to participate, and this is achieved with pro bono co llaborations from the board, some of the professors and ins titutions. “The only thing we charge for is rent and other ope rating expenses”, he adds.

Another positive facet of the agi is that through a partnership with the bac bank, it was able to start a revolving loans fund, placed in a trust, which provides loans for six Costa Ricans each year to enroll in incae. “We call them revolving funds and not donations because it’s important that the beneficiaries repay the money at a later date, so that another six people can have the opportunity to study there” he explains.

Clausen recognizes that scholarships are necessary, but they’re not sustainable and in many cases are only partial. This is where the agi trust comes into play, allowing the students to bring together all

The Costa Rica agi has more than

> 200 members

incae has become a driving force of thought in the area …I believe our objective is to make a difference in our societies.


incae 50 years

the money they need to study at incae. “They make very low monthly payments for a few years and pay off the loan. These payments help the people coming after them. So I think it’s something that provides permanence and sustainability over the longterm.”

Other activities for agi are being analyzed, but the Association’s president is frank when he recognizes a lack of time as their main constraint. However, the executive director of the Costa Rican agi is Sylvia Garnier, whom Javier Clausen considers to be “the central pillar of the Association, as her presence is essential for everything to work properly.”

In addition to being an entrepreneur, Javier Clausen was a professional basketball player and is a big motorcycle fan. These characteristics lend dynamism to both his life and his professional career, and are

Networking during these activities is essential. A space for participants to talk is always provided. However, this businessman makes no attempt to hide his frustration when he sees that many people don’t take full advantage of these occasions: “Costa Ricans tend to be shy at these kinds of events. The talks finish and they leave, never knowing if the person standing next to them could have been their next boss, next business partner or someone important in their life. So we always say that the activity doesn’t end when the talk is finished; we invite attendees to stay and enjoy some snacks to help break the ice. This difference is the catalyst which allows ideas to come together and be shared, while challenging the passive Costa Rican nature at professional events.”

evident in his work in agi. As in sports, realistic actions in business are what count the most. The association has also experienced this: “We’ve had innovative ideas with a lot of promise, but we’ve come up against considerable time constraints, so we’ve learned to only focus on doing what we’re able to do, and not to aspire to achieve unattainable goals. Our most important role is to safeguard the structure that allows the group to be economically solvent,” he explains.

Constant collaboration In 90% of cases, incae professors generously donate their time. Clausen highlights their extraordinary communication skills which facilitate the conferences enormously. Gra duates have also participated by presenting their projects during these forums as they have much to contribute.

We call them revolving funds and not donations because it’s important that the beneficiaries repay the money later, so that another six people can have the opportunity to study there.



ndreu has dedicated 35 years of her life to helping Salvadorans take the decision to study their mba at incae.Andreu is also the president of LatinTopJobs, an executive

search and human capital evaluation business. This topflight executive recalls how in 1979, when she’d just graduated, she met up with colleagues in a house in the Miramonte neighborhood in San Salvador. This was where, amid many pleasant conversations, this project she’s so passionate about started to take shape: the agi, a dynamic

A

“We want to see incae grow. It’s an institution we have much to be grateful for and we love it with all our hearts,” says Regina Andreu, Vice President of the incae Graduates Association (agi) in El Salvador.

Verónica Castro and Regina Andreu have implemented a winning formula to ensure the success of the El Salvador incae Graduates Association.

Committed toGrowth

By

Johanna M. Camargo

Regina Andreu’79previous education: Industrial Engineer, Universidad Centroamericana José Simeón Cañas, El Salvadorincae: mae´79current position: President of LatinTopJobs, El Salvador

Standing, from left to right, Regina Andreu, vice president, Alma Rosa Pineda, trustee. Sitting: Margarita de Castro Guerra, J.D. Secretary; Annie Orellana, treasurer; Verónica Castro, J.D. President.

El Salvador


incae 50 years

body that organizes free workshops and conferences for members on economic perspectives, and also gives them access to local and regional job opportunities.

Verónica Castro de Portillo, president of the El Salvador agi, agrees with the definition of the group’s spi rit, which emerged with the aim of continuing networking, maintaining contact between former students, to collaborate with incae and keep the brand visible in each country. From the perspective of her selection business Andreu says she would confidently recommend an incae graduate for the capacity, skills and experience they would have, and they would stand out from other applicants. Mutual cooperation is inherent in the spirit of all incae graduates “We all try to help each other, whether we’re recent graduates or we graduated years ago. We are united once we recognize each other. This has really helped my business as it opened many doors for me,” she said. Her connection to incae has helped her break the ice when doing business with senior executives in any of the Central American countries.

Castro didn’t study in Nicaragua, but took her Executive Master’s degree in San Salvador. It made a permanent impact on her and helped to open new growth prospects for her business. “I worked in a family business in the real estate development sector. As my father is a graduate of incae, I decided to take the Executive Master’s degree. I was already married with children, and graduated in 2007. It was enriching. You meet so many business people in the country who open up opportunities for you,” said the architect, who has been a member of agi for three years and its president for eightmonths. In

fact, it was Regina Andreu who invited her to join the agi, who is in charge of promoting the benefits of

being a member of the association. The agi obviously puts into practice the incae culture: teamwork. “We all form a good team with a teamleader and we all listen

and contribute. We owe it to our members to provide an excellent service, so we invite experts to give talks, and even let people who are not incae graduates attend,” said Castro.

Although competition in the market for masters is high, they both strongly recommend opting for incae, especially people working in the region. “Central America is all connected together; and for the executive who has business or works in Central America, incae is the best choice,

The El Salvador agi was

created with the idea of continuing

with networking, maintaining

contact between former students,

to collaborate with incae and keep

the brand visible in each country.

Verónica Castro’07previous education: Architect, Universidad Alberto Einsteinincae: maex´07current position: Project Director in Constructora La Ceiba, El Salvador

El Salvador



because not only does it teach us cases from the region, but also from outside. incae gives us these tools,” said Castro, who stresses that the cases in her Executive Master’s degree that impacted her the most were those reflecting the realities of Central and Latin America.

Verónica Castro was fortunate to be able to carry out her Executive Master’s in San Salvador, as the program is now only available in the Nicaragua campus.

Personal satisfactionThese two executives are committed to volunteering for incae. Although Castro was initially not tempted to join the agi, she recognizes that being part of the association has helped them meet more people. For her, it’s a way to thank her alma mater. “It’s a job where we can give something back to the institution, as incae has filled us with knowledge and skills, and opened the doors to new experiences,” said the real estate executive.

agi is currently promoting a workshop for its members on business competitiveness. “It’s not just csr; it focuses more on how to help others, how companies can make a profit and provide help to other people. It’s aimed

Central America is all connected together. For the executive who has business or works in Central America, incae is the best choice.

at our members as an important incentive for belonging to the agi,” Castro said.

In the future, both want to encourage more

people to live the incae dream, and for more graduates to enjoy the El Salvador agi experience. “incae graduates can join in our activities at reasonable prices; companies pay us a yearly fee, and this is how we fund the agi, with this and with membership fees,” says Castro. In El Salvador, Arturo Cruz or Arturo Condo command large audiences and their speeches generate lots of debate. In 2013, agi El Salvador gave a us$ 5,000 donation to the incae scholarship fund.

Andreu said that the idea is to have a lot of members and to achieve stronger connections between them. “I know that we’re good and we can knock it out of the park. We dream of helping each other more, and having a really strong association so that incae feels more strongly we are part of it.”

agi El Salvador has

130 members


incae 50 yearsThey bet and won

From the laying of thefoundationstoneBy

Luis Diego Quirós

THEY BET AND WON

Rodolfo Jiménez’64previous education: Economics at the Universidad de Costa Rica.incae: Advanced Management Program (PAG), 1964current position: Shareholder of Florida Ice & Farm Co. (fifco) and Grupo Nación. Costa Rica


SPOTLIGHTthey bet and won

his is where I hope to talk to him about his first experiences at incae Business School, which in addition to opening up

the doors to the regional business world for him fifty years ago, also launched what is now one of the leading business schools in the region and the world.

Don Rodolfo is someone whose gaze commands respect. If one knows a little about his career in business, a multitude of questions come to mind, but among the main ones are to hear his positions and views on the business and economic performance of the isthmus over the last five decades.

The first Advanced Management Program (pag Programa de Alta Gerencia) was held in Antigua, Guatemala, from July 1st to August 7th, 1964, with 45 participants. At the close of this event the founding documents of incae were signed. Among the atten dees was Don Rodolfo, who recalls that you had to “read a lot” during the course, he says, laughing. He then becomes a little more serious and thoughtful, and empha sizes that there was a lot of reading to do back then, but on interesting issues, and he was able to meet people who have had an important influen ce in both his personal and professional life.

He remembers that Francisco de Sola, Chairman of the Board of Directors of incae, encouraged healthy discussion about the future campus of the school.

“Francisco wanted it to be in Guatemala, but we thought an intermediate point would be

T

Costa Rica

The meeting room near the office of Don Rodolfo Jiménez Borbón is simple and elegant, exactly the place where one would imagine the meetings of large corporations happen.

better, and so we analyzed the area between Nicaragua, Costa Rica and Panama. A vote was taken and Nicaragua was the winner, on a property that the government offered us in a place called Montefresco” he recalls.

Subsequently a litany of complicated situations arose, which forced the headquarters to be moved and the Costa Rica campus was

opened, but this was almost a secondary concern the important point was that a radical change in the business culture of the region had been achieved. “It was a very enriching experience and we’re all very proud of what was accomplished in incae’s inaugural year. “We’re happy about the decisions that were taken then and what proved to be the defining contribution to the creation of such an important and prestigious institution as incae is today.”

The contextFifty years ago, the economic and political context was very differ

ent. The countries were much less crowded and regional integration plans were still in their inception. For the founders of incae, it was essential that the region underwent development, and important that the business sector played a key role in achieving this objective. They all had to take more than a month out of their valuable time, put their businesses on hold and dedicate themselves to a program that was only just beginning. However, as the majority owned their businesses it was not seen as a sacrifice, but as an investment for themselves and their countries.

Number of participants

in the firstpag of incae 45

Back then it was unheard of to question the decisions of the family. So I left Wharton, came back, and finished my career in Costa Rica.”

THEY BET AND WON


incae 50 years

“My case was very particular, because part of my high school education was in the United States, and then I went to Wharton, at the University of Pennsylvania, which was a very prestigious center for business studies. But unfortunately I couldn’t finish my studies because my uncle died and overnight my father told me he would like me to go back to finish my professional training in Costa Rica. Back then it was unheard of to question the decisions of the family. So I left Wharton, came back, and finished my career in economics in the Universidad de Costa Rica. I think Dad felt slightly guilty and he proposed that I go to incae. I was already married, but my wife also agreed that I take part and that’s when the story began.”

Don Rodolfo Jiménez Borbón, who is an important shareholder in big companies including Florida Ice & Farm Co. (fifco) and Group Nación, said that much was learned during the first pag, but among the greatest teachings was the chance to speak to other Central American entrepreneurs. In addition to his professional work, he was also able to sow the seeds for great friendships. At

that time, the main challenge Jiménez had was his work at the Costa Rica Brewery (Cervecería Costa Rica), but his time as a key member of this first generation of incae opened his eyes to the possibilities offered and taught him one of his most important lessons: to share in the experiences of people from different countries.

“Thanks to this experience, I got the chance to meet many people who have been very important to me. One example is Harry Strachan, who has been an important influence in my life. Harry was rector of incae and we are still friends to this day. Back then we hired several consultants in Cervecería,

which helped us to improve the business.”

The current situationDon Rodolfo believes that today’s students are better prepared, but is concerned that the opportunities are not forthcoming for everyone in the same way. He believes that high school coverage is still poor in the region and that many people go to the university to study careers that don’t have any job prospects at the end. However, he feels that technology and globalization will allow people, when they do things right, to be able to grow and achieve their goals.

Where this Costa Rican businessman is not so optimistic is when he talks about the current bureaucracy of some nations. “incae has passed through some very difficult times, but I think it would be more difficult to setup now because, at least in Costa Rica, we oppose anything on principle. It’s a shame, because the advances have made us more efficient, but it’s not something that’s being achieved for everyone in society,” he says with a chuckle, which gradually turns into a sad reflection.

Don Rodolfo Jiménez Borbón is one of the founders of incae, who has not only contributed to the growth of the institution but also to entrepreneurship in Central America.



he task of managing a business when you don’t have the necessary educational tools to manage it is not impossible, but it’s a much more compli

cated thing to do. For this reason Roberto Motta Jr. and the business people of the time clearly realized since 1964 that Central America needed a business school to train the future businessmen of the region. So after he graduated from Georgetown University, in the us, in Business Administration he took the HighLevel Management Program at the recently founded incae, which had the support of the Harvard Business School. The program was developed in 1965 in the city of Boquete, Chiriquí Province, in Panama.

Now, 49 years later the founder of Motta Agencies does not repent from the decision he made those years ago, because the moment a person has the tools to achieve a goal, the outcome is success. From incae

T

By

Johanna M. Camargo

Now 74 years old, the founder of Motta Agencies has it quite clear that although technology has caused paradigm shifts, business values remain the same as those held fifty years ago.

His success story shows that it’s a race of resistance, but also one of persistence, if one is to attain one’s dreams and goals in life.

Panama

Roberto Motta Jr.’65

The right

tools


incae 50 years

Passion, perseverance, and love are the basis for his 50 year success in marriage, from which he has reaped four children and thirteen grandchildren.



have come the leaders of the best organizations and companies in the region.

“The moment I completed my studies [at incae] I was much more aware of the absence of business administration concepts in my country. For this reason I embarked on this project, where I continue cooperating with incae to the present day in many different areas, so that other people may have access to higher education. The case resolution methods of those years are just as applicable today as they were then. In effect, they continue being successful because they teach you how to solve problems from different case scenarios, but in the best way possible. My oldest son got his Master’s Degree from incae.”

As a professional, it’s clear for him that his education together with his values, such as his business ethics, still remain today, although technology has changed the way things are done. He has exemplified perse verance in achieving goals, he has shown patience in waiting for the right moment, he has taken new steps, diversified his businesses, and has transferred the leadership of his Motta Agencies to his eldest son, Robert iii.

In his opinion, it’s not easy to hold to a good business ethic, as values have been inverted and many people want to make easy money. But his life example shows that making the right decisions and showing perseverance pay off in the end. “We have to preach what we practice, and practice what we preach,” he affirms.

Although he has retired, he still sits on the boards of various businesses and nonprofit organizations. At 74, his priorities are more focused

on enjoying, together with his wife Maria nela, the fruits of his good decisions. They’ve been married for 50 years and have four children: Roberto III, Emily, Liz Marie and Félix, and they have thirteen grandchildren. To keep in good health, he enjoys a low fat and carbohydrate diet, but high in proteins. He spends his leisure time playing golf.

Motta Jr. is not only well aware that his Motta Agencies have been a success, but that it’s a life plan, based on his personal values, that seeks to distribute products efficiently to increase the wellbeing and quality of life of people, using technology in the management of supply chains and client service. Motta’s mission has remained unchanged: to be a company that exemplifies social responsibility and commits to adding value for [the benefit of] its shareholders and those who cooperate [in its endeavors].

Today, Motta Agencies are leaders in the distribution of luxury products. Motta Jr. always defended the importance of maintaining a spiri tual balance, because he consi ders that “when a person moves in the maelstrom of business one may lose materially; if there isn’t a spiritual basis, nothing that you do will fill your life, neither will you have the peace to be a successful person.”

His success story shows that it’s a race of resistance, but also one of persistence, if one is to attain one’s dreams and goals in life. We can summarize it by saying that the key is being the best version of yourself each and every day, [living it] with passion, love, and patience as one does what is at hand, no matter whether it be for personal or professional reasons.

When a person moves in the maelstrom of business one may lose materially; if there isn’t a spiritual basis, nothing that you do will fill your life, neither will you have the peace to be a successful person.

96 %

of incae teachers

have PhDs and come from the most prestigious universities in the world.


incae 50 years

hen they set out to create the incae Alumni LinkedIn Group in 1996, together with Jorge

Arias, they only had a very limited graduated email database, and no choice but to hope this contact method worked. Today, with a more systematized platform, and all the resources the internet and social and professional networks offer, the total of graduates linked to the incae Business School Global Alumni Network has risen to 3,000. This number is sure to continue growing, thanks to the work of the members, motivated by Jenaro Sánchez, who serves as chief administrator of the burgeoning group.

This Nicaraguan, who received his engineering degree from

W

Guatemala

Jenaro Sánchez’77

Keep ondreaming

the incae

dream By

Vicky Santana

Remeber that the significance of the individual is most important.

More volunteering

More volunteering

previous education: Chemical engineer, University of the Pacific, Californiaincae: mae´77current position: Research and consultancy in the field; Honorary Professor. Guatemala


SPOTLIGHTmore volunteering

the Uni versity of the Pacific in California, United States, and later completed his mba specializing in banking and finance at incae, is the heart and soul of the group. A businessman with thirty years of experience in various sectors, mainly in the chemical industry and cement production, has been able to combine his professional job now as a business consultant with the volunteer work he carries out not only with the group of Incaista graduates but also with other education related causes.

He married Rosalourdes in December 1975, taking advantage of the Christmas holidays and permission from the cement company where he worked. Jenaro’s family life has been enriched by his three children, aged 35, 33 and 28. The two oldest, both boys, were born in Nicaragua, but came to Guatemala when very young. The oldest, who is called iii, is a computer expert; the middle child is an industrial engineer and the youngest, a daughter, “my chapina (Guatemalan) daughter”, who according to Jenaro was born in Guatemala “as a reward and a ray of hope,” he proudly exclaims. However, his life continues to give him more prizes, as he enjoys spending evenings playing with his

two grandchildren: Santiago who is 17 months old and Ana Paula who is just three months old.

Although born in Nicaragua, life took Jenaro off to Guatemala for a couple of years, where he eventually settled and put down roots. However, Nicaragua became his business headquarters and starting point for all workrelated travel related to cement and exporting fruit. In those years of business traveling, his wife, who was consul of Nicaragua in Guatemala, devoted herself more earnestly to caring for her children so that the temporary absences of their father didn’t affect them. Jenaro recognizes that this dedication was instrumental in the upbringing of his children, “as usually happens with the presence, firmness and love of mothers. It is very difficult

This global perspective on society, family and companies, which I didn’t have before I was in INCAE, was something that changed my perspective on life.

Live incae, be incae the institution opened up a world of knowledge to them through lectures, but also

introduced them to a field of people with a diverse range of backgrounds and experiences, and they enjoyed all the activities offered by the campus — including the parties. They grew up and matured here and this produced camaraderie and strong ties. Jénaro Sánchez.

INCA

ISTA

More volunteering

Jenaro in his house in Guatemala with his family.


incae 50 years

bringing up children without the support and involvement of both parents,” he notes. “When I was at home, I tried to give the best I could in terms of quality and quantity, and be present at the most important activities of the children.”

These days he’s more relaxed, because the business consulting he provides gives him more time to spend with his family and allows him time to enjoy his hobbies music and reading. He is committed to the incae Alumni Network as a way of giving back some of what the institution gave him.

“incae marks an important point in the lives of everyone, or nearly everyone, who went through the twoyear ‘process’. While those of us who got a university degree in science and technology generally have an affinity with the rigorous management style taught at incae, we always require a little bit of that crucial element nece ssary to make the demands easier to digest and more effective. At the end of the day, the progress of the

company with its staff and goals is nothing like an assem bly line, as it requires a lot of dedication and leadership to ensure that each employee, each customer and supplier are pleased to be there making their dream a reality. And when that happens the partners and stakeholders will also be satisfied.”

“That global perspective of society, family and companies, which I didn’t have before I went to incae, was the element that changed my perspective on life. Everything made more sense and gave my life more of a ‘missionlike’ quality” he enthuses.

The motivation in his work with the network of incaístas on LinkedIn is to make it a support group strong enough to bring graduates together, and to connect them with their alma mater. Jenaro spells out exactly what

he means: “A prestigious educational institution needs to build and consolidate a strong relationship with its product, which is us the graduates, especially in the case of incae, because we’re present in over 56 countries, and in all sectors of the economy across all professions imaginable, and in the segments of society where they often make decisions that affect the lives of our countries.”

“Many of the Incaistas that are part of the group are very conscious of the fact” Jenaro says, “that the importance of the individual is paramount. Yes: they work hard, they make a living from their profession, earn money and create their own success; but there’s a higher cause that calls on them to offer their help which means putting all their values , talent and knowledge at the service of an organization, that in turn projects those values out to society in general and the country where they’re based. They are

As Incaistas we’re called on to show the proper way to do business, to clearly and transparently demonstrate that ethics, business and values are still in fashion, and that there’s no technology in the world which can replace them, although attempts have been made.



professionals looking to improve their impact on business.”

Why does such a strong bond with incae exist, despite the fact that many graduates have completed their studies many years ago and now they’re fully absorbed in their professional lives? For Jenaro the answer is simple: the institution opened up a world of knowledge to them through lectures, but also introduced them to a field of people with a diverse range

of backgrounds and experiences, and they enjoyed all the activities offered by the campus — including the parties. They grew up and matured here and this produced camaraderie and strong ties.

This is also perhaps why, despite them all now being professionals fully engaged in their work projects, the gra duates find the time and make the effort to join, stay uni ted and mutual support each other, celebrate graduation anniversaries and be attentive about the developments and needs of their alma mater. “People who volunteer are invariably the busiest people,” says Jenaro.

That’s why the group is so active and has such high participation levels. lt communicates by LinkedIn and has a blog which allows people to exchange experiences http://incaistas.tumblr.com/

Jenaro concludes: “As Incaistas we’re called on to show the proper way to do business, to clearly and transparently demonstrate that ethics, business and values are still in fashion, and that there’s no technology in the world which can replace them, although attempts have been made.”

For this reason, he never tires of inviting graduates to “keep dreaming the incae dream.”

Exchangeexperiences


incae 50 years

grain of sand from everybody can make a formidable mountain,” says Eduardo del Carmen with conviction. With this comment he alludes to the work ac

complished by the mae xiii Honor Fund something he’s been actively involved with since 2007. Its main purpose is to raise funds to financially assist Central American students interested in continuing their studies at incae.

This economic fund, set up by six graduates of incae mba class 1981 Roberto Cuevas, James Tefel, Ana María Herrarte, Leonel Rodríguez, Esteban Brenes and Eduardo del Carmen receives 90% of its donations from the members of the class and 5% from the companies where they work. So far, six students have benefited, and have been able to complete their studies.

The promoterEduardo del Carmen was born and raised in Nicaragua. His father was Nicaraguan and his mother from the us. He completed his degree in administration at the Wake Forest University, North Carolina. He entered incae in 1979, where he received a Masters’ Degree in Business Administration in 1981.

A year later Eduardo married María José Caldera, finished his studies and started working with the First National Bank of Chicago in their operation in Panama. He then moved to Venezuela and Miami. This was the beginning of a successful career in the financial industry, which

A

By

Vicky Santana

If each class of incae graduates form an assistance fund like mae xiii, thousands of students would benefit, and also Latin America as a whole.

previous education: Business Administration from Wake Forest University, North Carolinaincae: mae´81current position: partner and director of Darwin Capital LLC. Miami, Florida

Multiplying FactorEduardo del Carmen’81 Miami

In 2014 the fund aims to collect

US$ 50 thousand



led him to occupy important positions in organizations including Wall Street Securities, NationsBank, NationsBanc Montgomery Securities, among others, in Miami, Florida. Since 2003, based on his experience in investment banking, he runs his own firm: Darwin Capital llc, in Miami. It provides strategic and financial advice in mergers and acquisitions for local, Central American, Caribbean and Andean companies.

Today, he’s still married to his teenage sweetheart, with whom he has three children: Elizabeth, Eduardo Humberto, and Andrés.

Del Carmen balances his work, which is now more flexible time wise, with his family life and passions, such as golf. He has played since he was eleven and has represented Nicaragua in international tournaments.

For young people in Central America“The initiative to create the assistance fund came in 2006, when our class reunited for our 25th graduation anniversary celebrations. On that occasion, Roberto Cuevas told me his idea about creating an assistance fund. I seconded it straight away and got in touch with other graduate friends from mae xiii, who made the first collection round,” he recalls.

There were four objectives: to promote business education in Central

50 % of mae xiii graduates have contributed with donations.

Our mission for the fund is to contribute to training young people in Central America.

I invite INCAE graduates to form a fund to help the education of other people; it’s time for us to apply the CSR principle we were taught.

America; to give back to incae in gratitude for what we had received; maintain a common bond with our alma mater and keep in contact with our ex classmates. “We managed

to convince 40% of the class members to help during the first year, and we raised us$20,000. We decided that our part, what we raised, was not going to be given as grants or gifts for students but as a loan, which should be repaid within four years after they graduate. incae, which contributes to the fund, agreed to donate a dollar for every dollar we raise. The incae contribution

is a donation that students don’t have to pay back,” he says. Thanks to this premise fund donors have been able to better manage the resources, which will benefit a larger number of students.

The beneficiaries receive a loan of us$4,000, plus the incae grant.

“The proceeds of the fund have increased gradually, and in 2013 we set ourselves the goal of raising the total to us$41,000, given that there were 41 members. We reached this figure in December 2013 and we’ve been able to support six students in the region,” he says with pride.

Del Carmen says that the six members of the organizing committee share the task of asking for contributions from other classmates in their respective countries. To date, 50% of graduates from mae xiii have contributed to the assistance fund.

An objective the group has is to talk with other graduates to encourage them to replicate this effort and to create a fund with the name of their class. “If every class establishes a fund we’ll have more than fifty funds, and that would make all the grains of sand into a huge mountain. It’s an idea we have and want to promote, and incae is also encouraging it,” he concludes.

For him, as for the other members of the fund’s organizing committee, it’s never been so clear that being united makes them stronger.

YOUNG PEOPLE IN SENIOR MANAGEMENT


incae 50 years

I believe in team work and that more than having brilliant people, what we need are people that are loyal and committed.

Ecuador

The life of this incaistaecuadorian, today President & ceo of the Banco del Pacífico (the Pacific Bank), shows us why we are by what we think and dream.

Efraín Vieira’94

t’s kind of difficult to believe that a once “agitator” of some twenty years ago now occupies the highest position at one of the most emblematic Banks in

Ecua dor: the Banco del Pacífico. He has achieved this step by step, slowly but surely, although his first years abounded in difficulties and unexpected events. He did this without having to do it at someone else’s expense, but with the conviction that what one proposes, one is able to achieve. We do well to mention his belief in team

work, and that what’s most needed is not so much as having nerds, but people who are committed and loyal to their work.

Just to see him pass by various areas of the Bank’s head

quarters in downtown Guayaquil (Ecuador), and to enthusiasti

cally shake hands with a security guard or with the cashier or the lady that serves the coffee, tells of his

I

A lifeplanhumbleness and the simple man that he is, now in his 50s—traits which have remained unaltered since boyhood.

He was born in Baños de Agua Santa, a small tourist resort located at the bottom of the Tungurahua volcano, 40 kilometers from Ambato. When he was five, his parents, then university

professors, moved from this town towards Guayaquil, seeking better work opportunities. Compared to their larger house in Baños, their home in Guayaquil was of modest size, made out of adobe, where they shared it with five other families. The welcome to his first day at school is remembered by a serious head injury inflicted by the very students themselves. Despite the difficult times and dramatic events, Efraín takes it all with a pinch of salt. His

previous education: Electrical Engineer from the Escuela Superior Politécnica del Litoral (the Polytechnic)incae: mee´94current position: President and ceo of Banco del Pacífico, Ecuador

By

Vicky Santana

YOUNG PEOPLE IN SENIOR MANAGEMENT


LEAD PLAYERSyoung people in senior management

courageous character was most probably shaped thanks to the challenges and situations he faced in life, which he was able to overcome and to forge a better future for himself and his loved ones in the country of his dreams.

He studied Electronic Engineering at the Escuela Superior Politécnica del Litoral (Polytechnic) where he also did a Master’s in Administration. He pursued further studies at incae, where he completed his Master’s in Entrepreneurial Economics in 1994, at the Costa Rican campus.

As a university professor at the Polytechnic, a friend working in the financial sector compelled him to leave education—a career of which he has the fondest memories and to which he hopes to return some day—and to enter the financial arena where he augured himself a better future. His friend’s initial perception was right. He joined the insurance sector and from there jumped to banking, where he continues to work to the pre sent day. One of the major challenges he faced was when he was appointed Quito’s General Manager (20102013) of the Banco del Instituto Ecuatoriano de Seguridad Social (biess), the country’s social security entity established by President Rafael Correa, an institution in charge of managing the country’s social security funds. His work earned him important acknowledgements and commendations nationally.

He attained this position through merits, after competing with a thousand other candidates for the position. He built the bank from zero to give it identity and structure, making it a financially solid institution which administers 67% of Ecuador’s mortgage market. Patently, he shares President Correa’s vision for Ecuador, whom he knew since he was a child and also as members of youth groups. There’s no doubt that Efrain has great admiration for the President’s government plan.

In his capacity as President and ceo of the Banco del Pacífico, and in his usual calm and serene way, he

remembers facts and anecdotes that have left a mark in his life. From these stories, we discover the inner traits of this life, which go beyond his appearance.How do you define yourself?

I believe in team work and that more than having brilliant people, what we need are people that are loyal and committed. I’m not a knowitall person and believe in people that are really committed, loyal, and who aim for big goals. I’m the sort of person that when I want something, I get it. Once, when I was studying for my Master’s at incae they asked us to write a life plan. I was only 29 years old then. So I wrote what I wanted to do and I even wrote my epitaph. I left it in some drawer, but three years ago when I was moving to another place, I found it and was able to ascertain that every one of the things I wrote then has so far been fulfilled…

But above all, it’s all a matter of interpersonal relationships, and networking will help to an extent.

Efraín Vieira on the beach, with his wife and two of his children..


incae 50 years

How many are you are there in your family?I’m married and have five chil

dren: From my first marriage, there’s Pablo, who’s 18, and Isabela, who’s turning 15. Then from my second marriage there’s Ana Paula, who’s 6, and Efrain, who’s 3, and we have a baby due to be born next June. I love children…Apart from work, in what other way do you like to spend your time?

I love to share as a family… I like to play the sax. I play tennis every day from Monday to Saturday from 6 to 7 in the morning. I like to meditate. I also love cycling and rafting. The latter helps me to relieve stress. In all, sports is a good way to keep healthy and remain fit as a fiddle. I love to read what comes across my way, but with a focus on history. Tell us about a person in history that has inspired you …

Yes, Simón Bolívar, and all his great feats in bringing independence to Latin America. I also have a passion for the life of Ernesto Che

Guevara… and when I can, I also like to visit Cuba from where such ideals have sprung. During my younger days as a university student, I was vice president of the student federation. In your opinion, what’s the secret to success?

To have a balance in one’s life, but also with others. To dream big, to set high goals, and to visualize what you want to be. Luck has a part to play, because at times one has to be at the right place and the right time for things to be given. But above all, it’s all a matter of interpersonal relationships, and networking will help to an extent. I do believe in respect and in treating others well… I don’t think I’ve harmed people, and when I’ve had to make difficult decisions, I’ve always tried to be just and to treat others as I would like to be treated. For you, what does it mean to be happy?

Happiness is the unceasing pursuit of human beings, which never ends. It’s not easy to understand that happiness has to come from within oneself and not externally, where humans tend to seek it. It’s neither in the family nor in the money or success we may have; it’s intrinsic, it’s a matter of building happiness from within.What about your search for serenity?

I practice meditation. I’m taking classes from an AmericanPhilipino known by the name of Master Del Pe. He has tried to mix oriental phylosophy with western entrepreneurial themes. He mixes a bit of chi kung, but not so focused on martial arts but on energizing and aligning the Chakras.We’ve been able to see your good traits, but what about your defects?

I’m a perfectionist. I get discouraged easily when people fail me. It hits me when I perceive wickedness in people, I hate that. I’ve tried to be an entrepreneur, but it has been very difficult for me. In effect, I tried to start two small businesses, but they didn’t work out.You’ve had a successful career in a relatively short period time. What other dreams remain to be fulfilled?

I want to achieve what the founder of Kentucky Fried Chicken once achieved when he was 50. He hit the mark, when he finally built the business and to make it the way we know it today, truly a worldfamous trademark. I would like to leave my children and grandchildren with a meaningful legacy. I would like to manage a business of my own in the future.

One of his passions: He plays the saxophone.



You were given a good education. Do you think it has been the basis of your success?

Evidently so, as my training and learning at incae gave me a wider vision on entrepreneurial themes, as well as the tools to make better decisions. How did you get to study at incae living in Ecuador?

It’s what I call the boomerangs of life … Some years ago the founder of the bank I now work for offered me a grant to study over there, through a foundation he administered. So I went to Costa Rica. I was already married, it was my first marriage but we didn’t have children then. How was it at incae?

I believe those were the best 18 months of my life. Firstly, because I love studying. The spirit of friendship was great, but also thanks to the quality of education I was getting, as I was being taught by world class professors. I have special memories and admiration for Professor Pedro Raventós, whose classes were spectacular … and I remember him as if it was just yesterday; I also remember Dr. Arnoldo Camacho, a genius in mathematics and econometrics … he would write on 10 boards, without a worksheet in his hand. I should also mention Dr. Francisco de Paula Gutiérrez, Dr Nicolás Marín, on finances. Point blank, all classes were just super.Where do you see yourself in five, fifteen…thirty years from now?

Having my own business in five years from now; managing my own company in fifteen; and, retiring in thirty years hence Forth. Aren’t you tempted to enter into politics?

It’s always a temptation. I’m attracted to it because it’s about serving others, but it’s always something very complicated. There are many factions and parties managing different interests. It’s something very difficult to reconcile. If you were offered a cabinet position in the current government, would you accept it?

Yes, although I would have problems with the “boss” [he laughs].What do you think of Ecuador’s economic model?

I agree with President Rafael Correa in that this isn’t a time of change, but a change of time. The “tortilla” has

It’s not easy to understand that happiness has to come from within oneself and not externally, where humans tend to seek it.

been flipped in the search for benefitting the human above the material, hence improving the conditions of the needy, building progress … in crystalizing the dream of a united Latin America. What is family for you?

My “cave” of peace. Politics.

The fight for the wellbeing of others.Religion.

For those of us who believe, a place of [moral] support.Knowledge

The only one thing one takes to the tomb.Work.

A means of survival.Social responsibility.

To be thankful and empathetic with those surrounding you.Life.

Fleeting.What message about life would you give any one of your children?

Being number one is no longer what makes me happy… what really makes me glad is for him/her to be happy. That’s what’s really important.

I leave Efraín Vieira, while he looks through the big window in his office toward the Guayas River, which looks serene and majestic from those heights, but also seemingly still and earthly in color. Yes, the “agitator” of twenty years ago will most probably be in a few years’ time a successful entrepreneur… a learned professor of some famous business school…or a cabinet minister…or may be even the President of his country. It remains to be seen what he has written about his future destiny for the prediction to be fulfilled.

incae 50 years

his phrase comes from Yara Argueta, the young Guatemalan ceo of Grupo Solid. It perfectly encap

sulates how this talented executive thinks, and her strategy to leave her positive mark on the world.

She loves being number one, like when she achieved the Summa Cum Laude in her industrial engineering degree from Universidad Rafael Landívar, or when she was awarded the Valedictorian High Distinction, the highest academic graduate recognition available at incae Business School during her Executive mba. She believes in constant training, in empowering her managers, in dedicating

T

By

Claudia Contreras

The only time things happen is when leaders influence people, when they provide guidance to people. Nothing’s going to happen if there aren’t leaders doing things. It’s the foundation for all kinds of change, improvement, and development.

Guatemala

An indefatigablementor

Yara Argueta’05



It was all new to me. I applied a lot of what I learned then.” Planning, knowing how to anticipate what may happen in a business, applying practical tools, being prepared for experiences that will happen throughout your career, are all things she had read about, and has now experienced in daytoday situations, following the years she spent studying in incae. She rose quickly in the business, held senior positions in the group, and tripled sales in just three years.

As ceo of Grupo Solid, the leading company in the paint and coatings market in Central America, she’s achieved sustained double digit growth and expanded the business horizontally. She leads 1,500 collaborators in Central America, has grown

previous education: Universidad Rafael Landívar, Industrial

engineer, Summa Cum Laude

incae: maex´05; cali´09

current position: Executive Chairman,

Grupo Solid s.a. Guatemala

This Guatemalan executive and tireless scholar knows how to inspire others with her natural leadership style

You must allow executives to take action, to believe, to grow as professionals and most importantly, to inspire them.

Yara Argueta in Mujeres 360°

time to learning in her company. “You must designate time for learning, and let [the executives] make their own mistakes, make their own decisions, and review the processes of each individual. We must allow them to take action, to believe, to grow as professionals and most importantly, to inspire them” she explained.

Every so often, she checks the case studies from incae with her managers. Her planning meetings incorporate a revision of the cases she’s kept since 2002, when she was studying for her master’s degree. “If I’ve got a planning meeting, I’ll get my notes, briefcase, grab my cases and then share and discuss them,” this mentor explains. She’s also vice president of the Vital Voices Guatemala chapter, an ngo founded by Hillary Clinton for the training and motivation of women leaders in Central America.

“There are few women leaders in the business environment in Guatemala, as a direct result of the lack of women setting their minds on achieving this goal,” Argueta says.”There are many women, who if they commit to achieving a goal and sacrifice the things they need to sacrifice, will succeed. In urban areas of our country, women can achieve whatever they set their minds on, but they have to make sacrifices, put in the effort and work hard. In rural areas, a combination of idiosyncrasies, education, and opportunities has slowed down development,” she adds.

Argueta was very young when she was studying for her Executive Master’s degree. Everything she learned she applied dutifully: “When I did the Executive Master’s I’d study each week and then go back to work, and put what I’d learned into practice.


incae 50 years

paint production capacity to 26 million gallons per year and has driven the expansion of the business from Guatemala encompassing production, design, research, innovation, logistics and customer care. In the medium term, she wants to increase sales in Mexico.

According to Yara, the changes a leader can implement are quantifiable in terms of profits, but motivation is what affects the final result the most. This is why she’s a visible and admired leader both within and outside her country. This year she’s been selected as the distinguished graduate of incae for her capacity for transformation, her personal value and because she reflects the mission of the institution. “We’re a company that creates very good business people, who stay at the company and who also go onto other companies. Lots of people have worked with us, and they’ve demonstrated exemplary performances, thanks to the training we provided them,” she underlined.

The passage through HarvardAs part of the World Economic Forum’s Young Global Leader group, Argueta studied Global Leadership and Global Policy for the 21st Century at the Harvard Kennedy School of Government. “It covered negotiation, leadership, and two subjects I studied in the incae masters, with other cases, but the level is the same. The negotiation component is at the same level with the same components being taught. The added value is that it has the Harvard brand.

This experience reconfirmed what I already knew that incae is a great institution, “said Argueta.

The professional growth she achieved in Solid gave her greater visibility in the Guatemalan business world. “Because we’re so few women it’s

opened lots of doors for me,” she stresses. The incae Executive Master’s also helped her form a better business network. “It’s great for business, advice and contacts. Another positive point is that thanks to it being both local and regional, the contacts you make are all from this region,” she added.

Argueta is part of the National Committee of incae and this letter of presentation has also helped entry into forums more easily. “Being part of incae and linked to this institution has been an excellent platform for me,” she added. As her passion lies in mentoring, she has become more involved in Vital Voices. “We can influence more women, connect them together, with the ultimate goal being the development of countries. The roi for investing in women is very rewarding and you’re able to support their family, as women are multitaskers. Development of women means to invest in different avenues. If you can get the other half of the population to develop like men, you will be able to develop countries,” she ensures.

Argueta finished by saying that the opportunities for women in business are there waiting for them and that they need to be brave and courageous to face the challenges.

Yara Argueta leads

1.500employees in

Central America

If women set their minds on something they can succeed, but they need to make sacrifices, put in the effort and work hard.



he minimalist style and simplicity of Gastón Monge’s office give clues of to the new management methods he employs. His friendly demeanor, modern style

and direct use of language all confirm this fact, and give away his young age: just 43 years. He’s been the ceo and chairman of Grupo Monge, the company founded by his father in 1971.

T

The ceo and chairman of Grupo Monge tells us how a family business became a Multilatina.

By

Luis Diego Quirós

An executive with lots of

miles on routeCosta Rica

Gastón Monge’96

Gastón Monge leads a Costa Rican conglomerate,

specialized in the sale of technology

and household appliances.

previous education: Business Administration at the Universidad de Costa Ricaincae: mae´96current position: CEO of Grupo Monge. Costa Rica

Grupo Monge has

450 stores

in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Peru.


incae 50 years

This Costa Rican conglomerate, specialized in the sale of technology and household appliances, boasts more than 450 sto r es in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Peru.

Under the leadership of Gastón, Grupo Monge ventured across the borders of its home country to start operations in Nicaragua fourteen years ago. Four years later it opened in Honduras, and in 2006 it completed negotiations to acquire the Prado company in El Salvador. At the same time it also opened in Guatemala, and last year launched the business in Peru.

This businessman, who graduated from the incae Business School in 1996, points out that part of his professional growth is due to the company’s family protocol, which forced

him to gain managerial experience before he was able to

take up management positions in the group. Be

fore enrolling in this educational institution he worked for three years at the Banco Interfin, and

after graduating joined Grupo Promerica, before moving on to head up the

expansion project for the fa mi ly business.

“The subject of family businesses is where incae had an important influence. With Professor Esteban Brenes we’ve implemen ted a planning process where

I’m the only one of four brothers who works in the business and although we don’t always agree on ideas, as we’re not clones of each other, we do share the same vision for the business.

we’ve perfected the family protocols. These define the requirements any family member who wants to work in the company must have work for three years outside the business, obtain a postgraduate degree and then work for a further three years period in another company. Only after meeting these requirements can they join our group,” he explains.

New stageWith an uncomplicated speaking style and casual attire, the conversation with Gastón Monge flows easily. He doesn’t see himself as a “bossy” and intimidating chief, but as a leader who tries to convince his team to obtain better results. Youth has not been an impediment to success fully lead a Multilatina which competes for the tastes of consumers from six countries. 43 years may sound like too little a number when talking about executive management, but in practice reality is very different. “They’re 43 years well ‘worn’, what I mean is that this wasn’t something I just woke up and fell into one day, I’ve had a lot of experience working with bosses who are neither family members nor my father. The big advantage of youth is that you have a lot of energy and stamina for work,” he says with a smile.



His passage through incae meant a new stage in Monge’s life, as he met his wife Ruth Zavala there. “She finished her studies and returned to her native Nicaragua to work with her father. She spent a year there and then we got married. We lived in Costa Rica for a year and then we traveled to Nicaragua together to spearhead the regional expansion,” he says.

The nationality of his wife had absolutely nothing to do with the decision to live in this neighboring country he says with a mischievous smile but initially Gastón was, for all intents and purposes, the only person managing the business in Nicaragua, and she helped him start the company there. “When we were starting out, the goal was to minimize expenses. It was a good combination of talents to help achieve this goal, because she is very organized and is an expert on accounting topics, while I’m more commercially focused. Thank God the company grew, and she decided to focus her efforts on raising our children, but she’s certainly been instrumental in the growth of both the business and my personal accomplishments,” he exclaims proudly.

In 2006 he assumed the executive management of the group from Nicaragua. By then he’d already opened sixty stores in the country, forty in Honduras and the company had recently acquired a chain with over fifty stores in El Salvador.

Whether it was because of his personal qualities, education or business knowledgeeven he can’t pinpoint the exact reasons why he was unanimously appointed as ceo for the group, something which he is very grateful for, and he is especially thankful for the support he received from his father and his brothers. “I’m the only one of four brothers who works in the business and although we don’t always agree on ideas (as we’re not clones of each

other) we do all share the same vision for the business,” he explains.

Leadership in the face of challengesThe enthusiasm the businessman feels when he talks about good interna tional management changes, littlebylittle, and his face becomes more thoughtful, as shortly after the business boom the global financial crisis hit, which was a test for industries across all sectors.

As a result of planning, innovation and hard work, the enormous challenges of the period were actually opportunities, and resulted in 2010 being the year when the group’s growth and expansion plans were put into motion again. Two years later the process to open stores in Peru began, which came to fruition in 2013.

“On a global level, retail as a whole is experiencing very challenging times due to a decrease in the number of visits, and this is where our innovation and creati vity enters into play. Our board, where five of the eight directors are external mem bers, permanently reviews processes and sales strategies, and it is important to understand where the industry is going. We are already implementing concrete actions on the ground, but new challenges arise every day,” he notes.

In addition to the work carried out by the directors, Gastón Monge empha sizes that the most important element is the internal team in each country. Senior management is fundamental for the company and highlights the importance of innovation and creativity for our leaders. “We have many employees who during their daily functions just focus on their immediate work and forget about the future strategy. That’s where I come in, to convince them that we must make changes to face what’s coming in the next few years. It’s a very intense process,” he concludes.


incae 50 years

By

Luis Ernesto Solís

Musicand Business

Yes, these have been two aspects that have marked the life of our incaísta Manuel Zúñiga, the ceo of the Costa Rican Cuestamoras Group, which have made him the person that he is today.

Costa Rica

Manuel Zúñiga’98

ight from the start, music has always been a part of the life of Manuel Zúñiga, the ceo of the Cuestamoras Group. His father was an orchestra director; hence, music was very much instilled in him from early childhood. “I started playing the French horn with the National Symphonic Orchestra of Costa Rica since the age of 7. I played with the Orchestra until the day came when I had to decide which path to take: if to continue with music or search for new horizons,” he recalls.

His father shared with him the extraordinary world of music, but also the fact that it wasn’t an easy environment, “and so for this reason I felt inclined to read law at university. Even so, music has always been an inherent part of my life and I believe I’ll never part from it.” He really experienced great moments while

R

previous education: Law, Universidad de Costa Ricaincae: mae´98, graduated with honorscurrent position: ceo of the Cuestamoras Group, Costa Rica



We see many opportunities opening up in Central America. We know of the complexities of doing business in the region, but we are able to manage them, which gives us an added advantage.

Manuel Zúñiga with Arturo Condo, the Rector of incae, during the 7th International Meeting of Incaístas.

studying law, “but my heart was telling me to move a step higher, something more focused on business, were I felt I had a better future.”

The ChoiceAt this point, Zúñiga felt that his career was going to take a turn for the best, so he explored various other possibilities: “I had a good number of options as far as universities were concerned, and I could study either in Europe, Central America, or South America. Nevertheless, I opted for incae as in my opinion it was the best place for me to become a better person in all aspects.”

This top executive clarifies that his decision was based on two questions: How difficult was it for a lawyer to be at incae? And, in what way could the university contribute to his future? Responses were varied: “The people I knew that had studied at incae told me two things: it didn’t go well for lawyers, but the campus was excellent. Further, they noted the great learning environment in classrooms, as well as with peers, and that the studies became the best tools for life. So, although I was already a lawyer, I had

no doubt in my mind that becoming an incaísta was the best decision,” he noted.

Thanks to his studies at incae, he joined the Corporación de Supermercados Unidos (csu). “It’s been a really interesting journey, where there were deviations but also there were times when I just “stopped and got out of the car” to watch the distant scene before me. Undoubtedly, I thoroughly enjoyed the journey, but it wasn’t just a one way, quick journey,” he retold.

Multinational and family business While working at csu, a family business, the us multinational Walmart crystalized the purchase of the Group. Zúñiga believes that the two models differ much. “Working for this multinational, I realized what it was to work with discipline and order, characteristic of a great organization—best practices that can be implemented in any family business so as to make it more professional,” he noted.

As to family businesses, he points out that there should be closer contact with partners, and there should be a more realistic perspective. “The greatest challenge facing a family business is the matter of succession. The greatest enemy is life, because we become adults [and get on in years]. So you have to figure out how you are going to exit the business. Naturally, the success


incae 50 years

retail trade, but that door was closed; so the first investments were done with the stock exchange. We also took advantage of the great infrastructure that csu had, such as the big stores, which Walmart rented; two hotels and an agroforestry reserve. We “ordered” our assets and then focused on diversifying.”

Although they’ve sought to diversify their investment portfolio, they don’t get into any business they don’t know of. “It’s no secret for anyone that we move around the retail circles, our main trade, like the logistics and distribution centers, and other types of business—sectors in which we move and consider ourselves to have the necessary expertise. I should also mention that we aim for wellestablished companies. Although the statistics show that 75% of takeovers are not successful, we are not affected in any way by that. As far as startups go, we don’t have the capacity to finance them,” he argued.

Internationalization is also on the agenda of the company. Zúñiga points out that they are a multicultural organization and hence they have the ability to grow internationally and be successful: “We see many opportunities opening up in Central America. We know of the com plexities of doing business in the region, but we are able to manage them, which gives us an added advantage. We’ve also explored possibilities of doing business in South America. Ecuador, for example, is an ideal country, since its culture and ways of doing business are very simi lar to the way we do things in Central America.”

Concerning human resources, Zúñiga says they are looking for people who have multifunctional talents. “They have to be chameleonlike in what they do, and to handle wisely whatever challenges come their way.

He who doesn’t like ambiguity cannot work at the company. We are looking for people who are flexible in the environment they are in. We are not so much interested in their field of expertize, but rather in their passion for growth and improvement, people who are willing to cooperate and exemplify our values well. The whole theme

of succession depends on how well prepared the business is [to face the issue],” he expressed.

After his experience in Walmart, Zúñiga decided to join the Cuestamoras Group, a business enterprise belonging the Uribe family, the former owners of csu. “It was very interesting for me to see how the business was set up. For a family business like csu, it is normal for families to take the sales money and to channel it for their own activities; but this family decided to join capital and continue investing as one. In addition, the partners focused on longterm investments. They wanted the business to last for more than 100 years and that vision would convert it into a business that’s going to go a long way and grow significantly,” he added.

One limiting factor of this [particular] business is that it couldn’t get into the shortterm retail business, because of the negotiations with Walmart. “If all of us new something, it was the



skills. My family is an important part of my life, and I wanted to spend more time with them. The transition was very positive thanks to achieving a good worklife balance,” he noted.

One of the projects he carries out with his family during his free time is training a youth orchestra from one of the poorest neighborhoods of San José, the capital of Costa Rica. “My wife also loves music. A lady friend of ours approached us and proposed the idea of creating a youth orchestra at La Carpio. Without hesitation, we embarked on the project. Currently, I’m the music teacher of twenty young people between the ages of 10 and 12. I know we are making a real impact on the lives of those kids,” he said.

In addition, Zúñiga said that one of the goals within the company has been to value people more. “incae gave us all the tools we needed when we graduated. We learned about marketing, profits, processes, methods and many other marvelous things, which have made us successful. Nevertheless, in my opinion we still need to understand that behind productivity there are people of flesh and blood that have feelings and want to progress. We need to work more on the theme of managing emotions within the company,” he concluded.

of values is one of paramount importance for our company,” he maintained.

LeadershipManuel Zúñiga emphasizes he is very happy being the ceo of the company, but he does feel the pressure of a family business that he is not a part of. “There’s no doubt that it’s a huge responsibility. Nevertheless, the company has been preparing itself for quite some time for this moment. The company’s focus on professionalism began a good number of years ago. Not one family owner, for example, works at the company. They are dedicated to just being the owners, but none have a position in it. What’s worth noting is that all the members of the family, from the oldest to the younger generations, all are aligned with this concept and are of one mind in this respect,” he noted.

The entrepreneur made special emphasis on the role played by Rodrigo Uribe, the ex ceo of the Cuestamoras Group, with whom he worked for more than 15 years. “Don Rodrigo is my mentor. The last year and a half we’ve worked together as the ceo of the company. It was a great learning experience. In fact, I became General Manager of the Company in January of this year, but he’s planning on extending the transition period for two years in total. It’s a blessing to be working with Don Rodrigo Uribe side by side,” he explained.

To have two people act as ceo requires much trust among themselves. “We know each other very well. He knows the things I dislike and those I’m comfortable with. We both respect our limits, but I must say this figure is not for all companies, as it requires certain conditions for it to work,” he argued.

GoalsOne of the conditions that motivated him to accept this position in Cuestamoras was the fact that he could spend [quality] time with his family. “Many of the maladies suffered by business men is the lack of balance between work and leisure time. One needs to have good life management

We still need to understand that behind productivity there are people of flesh and blood that have feelings and want to progress.


incae 50 years

In black and white

his business administrator from Quito, with a master’s degree in business administration from incae, has achieved important positions in the financial

sector in Ecuador, United States, El Salvador, the Bahamas and now Colombia, where she is Financial Vice President for the multinational insurance company aig.

Her life has been governed by the values she learned in the bosom of her family: “My parents instilled in my sisters and I the will to always fight and never give up hope, but also to be disciplined, generous and humble,” she says.

That was how her disciplined nature allowed her to be successful in her studies while she indulged in her passion for athletics. She knew that if she struggled and didn’t get good grades, she would not be allowed to remain on the

T

Colombia Marisol Arias’94

By

Vicky Santana

Discipline, balance, family and teamwork are the constants in the life of the incae graduate Marisol Arias.

It is clear having studied at the German School (Colegio Alemán) in Quito (Ecuador), sowed in Marisol Arias the desire to be a citizen of the world, and her passage through the incae business school, with its multicultural emphasis, helped to focus her vocation for leaving familiar spaces and venturing out to unexplored areas.

previous education: Business Administrator, Universidad Católica del Ecuadorincae: mee´94current position: Financial Vice President and CFO, AIG Seguros S.A. Colombia

track team, where she trained almost three hours a day after finishing her academic work. With equal discipline and dedication she devoted herself to studying business administration at the Universidad Católica del Ecuador and later to study her Master’s Degree in incae. She graduated in 1994.

When she was at the campus of the business school in Costa Rica she met her now husband, Enrique Perla, a Salvadoran who was studying for his mba. They married after graduation, and have three children who are 13, 11 and 7 years.

She worked for 18 years for Citi in the financial area of the corporation, starting in Quito as a financial



assistant, then later in Fort Lauderdale (us), San Salvador (El Salvador) and Nassau (Bahamas), where she was financial vice president.

Although the family enjoyed living at home in the Bahamas and enjoyed the spectacular island lifestyle, they began to explore new possibilities in search of high quality education for their children. Right at this moment aig Seguros called to offer her the position of cfo in Colombia, which she accepted. She has lived in Bogotá with her husband and children since November 2013. Despite being recent arrivals in the Colombian capital, they have all adapted well to their new home.

They are planning on staying in the country for a while, to give stability to their children and to cultivate good relationships which can be maintained over time, just like with her school friends. We spoke to Marisol Arias in her office in the north of Bogota, and she told us some of the highlights of her family life. Here we summarize the interview in her own words, in black and white.

What I most value about having studied at INCAE, beyond the quality of its education, is that it teaches you to work with totally different people. In my class there were veterinarians, engineers, lawyers... It’s very useful as in any organization you’re going to

have to work with people from across all disciplines. Studying with people from different nationalities, cultures and professions helps you have a more open mind. I also made a lot of Incaista friends there that you run into everywhere. So you’re creating a very interesting network of contacts.

Furthermore, incae opened up my international career, I do think if I hadn’t entered incae I would definitely still be in Ecuador, and I don’t know how successful I would have been.

The key to success is to always try to learn some-thing, learn from everyone you know and know that you’re not always right. Even those people in the most important positions in the organization can be wrong sometimes, and you must be open to learn from everyone and everything. It’s also very important to have time to foster personal relationships, because it’s a lot easier to work with a person you get along with. I love to coach, sit with people, talk about their careers, their plans and their lives.

When I was a child I learned how to balance my studies with my life. I was an athlete in college, but I knew if I wanted to practice I had to have good academic grades, because if you don’t do well they don’t let you on the team. I did athletics for most of my life; I was a sprinter, and that taught me how to work in a team because we ran relays and trained very hard every day. Playing this sport helps keep the body healthy, but even more important is that you’re not tempted to go down the wrong side of life. It teaches you to have discipline and to work in a team. It also helps you to release tension.

The balance between work and family is very im-portant. This is where discipline comes into play. Work, if you allow it, can totally absorb your life. You have to define the amount of time you’ll spend at work, and you have to try to fulfill yourself. Children grow up very quickly, begin

For Marisol Arias art is the best way for her to calm her mind. Here is one of her oil paintings.

Painting is the best relaxation for your mind, as you can immerse yourself in a painting and leave the world behind.


incae 50 years

to find their own space and if you only work all the time life will pass you by without your family. You have to learn to delegate a lot and delegate well.

Balancing all as-pects involves making room for your hobbies. When my second son was born I started oil painting. It’s a great way to relax, and allows me to leave any stress well behind. When I retire I’m going to devote myself to art, it’s lovely. Painting is the best relaxation for your mind, as you can immerse yourself in a painting and leave the world behind”.

Another of my hobbies is cooking. I love to cook and I can do it just as well for one person as for five hundred of them! I learned as a child, because it was one of the skills my mom taught us. In the summer, when we

were little girls, my parents worked all day so we were in charge of the food. We would share the preparation of each of the dishes, every day, all summer. One of these days I’m going to take a year off to go and study an haute cuisine course. I love cooking with my children, who share this hobby.

My biggest motivation is my family, knowing that they are well and happy. When I get home and they run up to me smiling, give me a hug and say that they love me, that’s perfect happiness. Happiness is more than just professional success. It’s more a personal issue, because organizations grow and evolve with or without you, but the family always needs you.

Being a woman is no longer a limiting factor to rise in organizations, but you have to know how to raise your

hand, and know how to create a network of contacts to help you grow. Nobody’s going to come looking for you in your office with every thing on a platter... you have to be alert to identify opportunities.

What do I still need to learn? I’ve always liked law, and it’s something I should learn, because one needs to know a lot about laws in business. Law governs all organizations. One of my goals is to complete a diplo

ma in law, I’ll try to do it in Colombia.My strength has always been the financial system

and I’ve worked in the banking industry for many years. Moving to the insurance sector is continuing to be connected to this industry. AIG is one of the largest insurance companies in the world, and I’m learning a lot here.

A message to incae graduates: we can all help each other and our communities. An incaísta should have gi ving back to the community on their todolist. It’s very satisfying to give your time to people who actually need you. I love getting involved in volunteer causes and I like to include my children in them as well.

Marisol Arias, in her home in Bogotá with her three children.

Work, if you allow it to, can completely take over your life. That’s why the balance between work and family is so important.

incae tapaverde.indd 4-5 3/26/14 4:33 PM

Alumni MagazineBusiness school

no. 3, marzo 2014

alumni.incae.edu

incae tapaverde.indd 2-3 3/26/14 4:33 PM

Documents

Alumni Magazine 2014_Inglés