Cisco donates $10 million to build centre for digital business
- 26 March, 2015 20:23
IMD, the top-ranked business school focused on executive education, has received US$10 million from Cisco to become the world leading destination for research, innovation and leadership to drive digital transformation to all aspects of enterprises, in every industry.
Cisco intends to fund the Cisco Chair in Digital Business Transformation and create the IMD/Cisco Global Center for Digital Business Transformation, on IMD’s campus in Lausanne, Switzerland. It will be fully operational later this year, according to IMD..
“This new global centre will operate at the intersection of technology and organisations,” says Michael Wade, professor of innovation and strategic information management at IMD.
“Its main goal is to help executives who are struggling with the ‘how’ of digital business transformation. These executives know that they must change and adapt to digital opportunities and threats, but they don’t know how.”
"IMD stands out among the top global business schools because of its unique applied model of management education, which will be instrumental as we seek to help our customers manage through rapid market changes due to digitisation," says Edzard Overbeek, senior vice president, Cisco Services. “Together, Cisco and IMD will ‘write the book’ on managing transformation in the new digital age.”
By conducting original research, the Global Center for Digital Business Transformation will work to define digital business transformation, what it means for companies today, and how to stay relevant in today’s competitive marketplace, IMD says in a statement.
Employing full-time researchers from both IMD and Cisco, the centre will produce cutting-edge thought leadership and organise learning events. It will also work with Cisco’s innovation centres around the world.
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