What does learning from others mean?
WikiStage SUEZ 3
  • Description

    Learning from others is a very important question nowadays. Let’s take the situation of the world as it is. It is called postcolonial world. What does it mean to say that our world is considered postcolonial? It means that learning does not come from one single culture or language. One easy way of characterizing the colonial situation is to say that you have, in a colonial situation, some kind of imperial language which is supposed to be the language of the learning, the language of the beautiful, the language of truth, etc.
    Everybody else needs to learn that language, as it is the imperial language, the language of the truth. To say that we are in a world which is postcolonial is that you have total equivalence of culture and languages. And this is a situation in which one can say that you can learn god knows what from god knows who. In other words, learning becomes a radically symmetrical situation encounter. You learn in a symmetrical situation that encounter is learning, in other words encounter is truth. In other words, you are able to step out of your comfort zone, your understanding, your own perspective of the world in order to embrace a different perspective.

    If you are precisely in a situation of understanding what it means that one language in the world is one language among others, one language among other equivalent languages. And, this is why this world is both plural, really diverse world, and also one world. And, hopefully, having such an attitude, adopting such a posture of understanding what it means to learn from others in a situation of radical symmetry is going to teach us some fundamental truth about our time - what it means to be living in a global world.

    We talk about globalization, but when we talk about globalization what it means mainly is that you have all these financial fluxes and fluxes of goods, etc. What does it mean for us, as human beings to learn to inhabit one single world? It means to inhabit it with our differences and at the same time multiply the richness of such a world by precisely learning how to live together, which means how to get from each other the richness of this world, and the multiplicity of perspectives. So, learning from others would mean one world, but one diverse world.


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Robert Piret

What are the kernels of growth?
WikiStage ESCP Europe 3
  • Description

    Everyone is always talking about growth; but really what is important to understand is what are the kernels of growth?

    Growth is a multidirectionnal prospect that stems from an advantage; but how to define and characterize this advantage? Whether it is build around an asset or a service, the growth of a company must take into account various criteria regarding the market and its structure before implementing a good strategy.

    "If you don't think what growth pathway you're going to take, your company is going to go nowhere fast."

    "Strategy of zero and margins of nothing is zero."

    "Building a company is done brick by brick."

    "Being able to understand and to figure out how to use not only your assets but to combine that with growth dynamics is the key to building a good growth."

     

     

Ray Wang

How to succeed in the age of digital transformation?
WikStage at Les Fontaines
  • Description

    "52 percent of the Fortune 500 companies have emerged, acquired, gone bankrupt and fallen off the list since 2000. One would like to think it's the Internet, one would like to think it's the technology shift but even during the recession in 2008 and the global financial crisis, we realized it was something more that was happening. There's a massive change ahead of us, some would like to call digital disruption but we actually have to turn it around and disrupt digital businesses because when we think about every market - it's the winner who takes all the market. (...) When we take a top 3 in every single market, we're seeing 'a winner takes all' market. This 'winner takes all' market is the result of what's happening with digital business and digital transformation. It's happening not because of technology but because people have built business models designed for the digital era. (...)"

     

Julien Fanon

Social met business in the 2010's. What's next?
WikiStage ESCP Europe 5
  • Description

    "One of the big trends that we saw during the past 5 years was the convergence and an increased collaboration between social entrepreneurs and traditional private sectors"

    "We see basically two trends. The first one is the increasing penetration of this collaboration with the social entrepreneurs in the company. And the second one is the diversification of the different impacts on the company - different trends that will hit the company."

    "Interestingly enough, in most forms of transformation (...) we see that the change comes from the top. In this collaboration that we're talking about - so the collaboration with the social entrepreneurs - we're starting to see that the change also comes from the bottom meaning that the employees, the individuals are bringing this change. (...) This is one of the first people-led transformation that we see in a company."

     

Valentina Carbone

Crowd-logistics: a new buzz word?
WikiStage ESCP Europe 5
  • Description

    "First thing: I went to see Tom Hanks."

    "I am in sustainability. So I asked: "Do I really need to add another box in a big plane with a lot of CO² emissions to go from Paris to New York?. The sentimental part of my idea was leaving the place to my environmental concerns."

    "So I went to see the Postal office. [...] Then I met David."

    "So this is my personal story. And I want to rely on it to tell you why I believe that crowd-logistics is a new way of conducting a very traditional activity that is logistics: moving stuff and keeping them stored for a while."

    "Crowd logistics can bring a fresh new air in traditional logistic systems. Why? Because it is light asset. Because you can rely on capacity, which is already there. You have your room cellars where you can let me store part of my stuff. You have a small place in your luggage when you travel around the world. So we have connections which are: resilient, local, efficient and the main reason why I believe in this new system is that they are sustainable."

    "Compared to other crowd practices, crowd-logistics has a true advantage, it contributes to reduce CO² emissions congestion and all the externalizations of traditional asset based logistics industry."

     

Stephane Loiret

How to shift economies of transactions to relationships?
WikiStage ESCP Europe 5
  • Description

    "Do you have any idea how sexy can be the life of a CFO in a big company?"

    "Small is big now."

    "You don't need a leadership of followers. You need a leadership of leaders that lead others."

    "Connect before correct. And share. Don't let the ideas kept inside yourself. Once you share then you get the power"

     

Robert Bosch

What are the 7 Digital Questions for Banks?
WikiStage ESCP Europe - Berlin
  • Description

    WikiStage ESCP Europe -Berlin Campus


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Nikolai Skatchkov

Digitalization of the Financial Service Industry - an Excuse for Mediocracy?
WikiStage ESCP Europe - Berlin
  • Description

    WikiStage ESCP Europe - Berlin campus.

    "When you look at Millennials, many of us don't trust banks anymore."

    "Many startups fail to have a proper business model. Also, they are lacking in managerial experience running the business".

    "A hedgehog concept is a very strong concept or idea and it means understanding what the company can become best at, instead of being mediocre."

    "Technology is an accelerator."

    "It's not technology that are driving innovation; digitalization is the people."

     

Why is Finance Not Just About Greed and Arrogance?
WikiStage ESCP Europe 8 - Paris
  • Description

    WikiStage ESCP Europe, Paris campus
    www.wikistage.org

    “Can you actually say that the financial industry is broken, evil or destructive? Can you say that debt is necessarily a bad thing?”

    “Financing is a very important factor for a strategy of growth.”

    “I had the opportunity to manage a family business in Mexico. Mexico has a huge problem, because the economy is lacking access to finance sources, so small and medium sized companies do not have access to financing sources. (…) If these companies do not have sufficient financing, most of them will stay small, regional without possibilities to expand.”

    “Lack of financing hurts the economy.”

    “However, too much debt is also bad for the economy. There are some signs right now that there is a real estate bubble forming up in China which might explode and there is a huge amount of student loans outstanding in the United States.”

    “Even today in 2016 banks are still struggling with capital requirements, reduced balance sheets and increased regulatory burden, so they are not lending.”

    “Quantitative easing (printing money to buy back debt) has not reached the small and medium sized companies”

    “Institutional investors have to put their money somewhere because one day they need to pay for your retirement. Scarcity of bank lending, changing regulation and investors’ need for yield has led to the disintermediation of the finance sector and alternative lenders have been growing and trying to fill this lending gap.”

    “True, there have been excesses in finance. There have been false incentives in some cases, there have been bad people. But bad people exist everywhere, in every industry – look at Enron, FIFA or Volkswagen.”

    “If all firms have access to financing in different stages of their lifecycle, in different forms and in a measured way – this will lead to more professionalized firms, better reporting structures, more transparency and that will lead to growth and economic prosperity.”

Jacques Terray

Does Finance Serve the Society?
WikiStage ESCP Europe 8 - Paris
  • Description

    WikiStage ESCP Europe, Paris campus
    www.wikistage.org

    "The majority of the middle management fail to adequately take culture and conduct matters into account and offer refer to traditional performance criteria such as revenue profits return on equity."

    "Situation has not improved; many central bankers, high executives are claiming that situation has improved, but the result is not there."

    "Financial industry plays an important role in allocating capital."

    “When bankers tell me how honest they are I have a small doubt.”
    “The people on top believe they are very honest themselves, but fail to communicate their ethics to the lower levels.”

    “Many of Central Bankers and high executives claim that the situation is improved and that the situation will not be like it was in 2008 but the result is not there.”

    "What can we do? The problem is not a few bad apples. In many of the banks we caught, the executives said: Don’t be mistaken, these violations were made by a few very dishonest people, we got rid of them and now everything is straight again. Well, I doubt it. I think the evil is beyond that, beyond individual behavior."


    "The purpose of finances is to serve the real economy."

    "Securatisation is transfering the risk from the lending bank to the public at large."

    "The lobbying by the banks is too powerful in finance. In Finance Watch we have three lobbyists in Brussels, while the banks have 900. And whenever legislation is to be passed in Europe, the bank lobbyists come with a document already prepared and say it is much to difficult for them to understand and that is what they should vote for."

    "In France in 2013 the government was lobbied by big banks and in the end the French banking law was really made to destroy what the European project meant to be."

    "High frequency trading is how you can buy or sell securities in a fraction of a second. In a second you can have 50, 60 trades. This is of course open only for very large institutions. This is not open to the rest of the people. Then you ask the bankers what is the justification and they tell you it is for liquidity purposes. However, liquidity purposes in fraction of a second, it is not serious."

    "I know banking is very important and useful for the society, the question is: are some of the activities like high frequency trading useful for the society or not?"

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