President. Letter from the. It is with great satisfaction that I report some of Insper s achievements in 2010.

Transcription

1 Annual Report 2010

2 Letter from the President It is with great satisfaction that I report some of Insper s achievements in This was a year of consolidation, in which we reaped the rewards of certain important initiatives that were launched years ago. One of these was the accreditation process by the Association to Advance Collegiate Schools of Business (AACSB), which is the world s most highly respected association accrediting business schools. The process began in 2004, the year in which the School was transformed into an independent, nonprofit institution. It required innumerous activities over a period of six years to improve educational quality at Insper in its various dimensions in order to align them with international best practices. In the second half of last year, after we concluded our selfassessment report, we received a visit from the AACSB accreditation committee, which gave a favorable recommendation of Insper to the Board, with the school effectively receiving accreditation in December. As a result, in January 2011, Insper became a member of a select club formed by the world s best business schools. In addition to the AACSB Peer Review team, we also received a visit by the commission from the Ministry of Education (MEC) for the reaccreditation of our undergraduate programs, which were graded with the maximum score of 5. Already at the start of this year, we received the 2009 results from the national student performance exam ENADE, in which our undergraduate students performed very well. In the overall classification of programs conducted by MEC, we ranked first in São Paulo s metropolitan area in both economics (fourth in the national ranking) and business administration (fifth in the national ranking). Along with the maximum score obtained in the reaccreditation, the ENADE results also gave us the maximum score of 5 in the IGC general classification of higher education institutions conducted by MEC. Only 25 higher learning institutions in the country have received this score and, of these, only 16 offer programs in economics and/or business administration. The masters program in economics was also very highly rated by CAPES, the federal agency regulating stricto sensu graduate programs, getting the highest score of 5 for the second straight time (i.e., the three year periods of and ). There was also excellent news in the executive education area. We placed 13th in the Financial Times ranking of corporate programs, climbing 29 places since we were first included in The ranking also considered our facilities to be the best in Latin America, and we placed first in the category of customer loyalty. We enjoy a privileged location in relation to our target public. However, because of this, the possibilities for physical expansion are limited. Fortunately, last year we managed to resolve this with two measures. First, we acquired five lots at Rua Quatá, on the next block from the Insper campus. The lots have a combined area of 2,230 square meters and offer the building potential of 8,900 sq.m. of floor space. And, second, we signed with the current owners of our campus a new build-to-suit agreement for the construction of a tower connected to our campus. Through this operation we guaranteed the occupation, for 24 years, of eight floors, for a total area of approximately 8,000 sq.m., which represents an increase of almost 80% in floor space in relation to that currently available. With this development, we believe we now have the capacity to expand for some time, maintaining the quality of the educational experience offered at Insper. For 2011, we have some important challenges ahead of us. In the Business Administration program, we began a pioneering project aimed at improving the competencies of our students in areas related to problem solving and a resultsoriented approach. Concerning our physical expansion, the objective is to efficiently occupy the new spaces without affecting our operations. In the executive education programs, our goal is to continue expanding our activities, while also focusing on the open enrollment programs. With respect to research, we intend to expand its reach and depth mainly, but not exclusively, through the Insper s centers on Public Policies and Strategy Research. We are also analyzing the launch of new graduate programs and, possibly, a new undergraduate program. All of the above has a single aim, to accomplish our mission of generating knowledge and developing people who will help shape our country. We are immensely grateful to all of you in the Insper community, including our faculty, staff, students, alumni, customers and friends, for helping to make this possible. A nonprofit institution such as Insper, whose governance model is based on the best private universities in the United States, depends fundamentally on the involvement and support of this community to perpetuate and continue to transform this dream into reality. Cordially Claudio Haddad

3 A nonprofit institution such as Insper, whose governance model is based on the best private universities in the United States, depends fundamentally on the involvement and support of this community to perpetuate and continue to transform this dream into reality.

4 Institutional Vision To be a leading center in education and research in the fields of Business and Economics, combining academic rigor and a practical approach so as to forge leaders and professionals who will make a difference Mission To develop people who share our educational approach, generating and disseminating knowledge in the fields of Business and Economics and fostering its practical application. Our educational approach centers on the development of students at all stages of their professional lives and relies on their full commitment and participation in the learning process. We value rigorous academic research based on real-world issues, which contributes to the enhancement of public policy and organizational practice.

5 2 Board of Directors 1- Paulo Guilherme Aguiar Cunha 2- Peter Graber 3- Claudio L. S. Haddad (President) **- Jorge Paulo Lemann 4- Luis Norberto Pascoal 5- Michael Edgar Perlman 6- Pedro Moreira Salles 7- Howard Stevenson Executive Committee Rinaldo Artes Dean of Research Degree Programs 2- Luca Borroni-Biancastelli Dean of Executive Education 3- Letícia Costa Dean of Graduate Programs 4- Irineu Gustavo Nogueira Gianesi Dean of New Academic Projects 5- Claudio L. S. Haddad President 6- Christian Greiffo da Justa Menescal Senior Director of Operations 7- Andrea Accioly Fonseca Minardi Dean of Undergraduate Programs 8- Marcia Nizzo de Moura Senior Director of Institutional Development

6 Donors Insper s Friends (persons and organizations who have contributed to the campus building in 2006 and the physical expansion as of 2010) 6 ABS Investment Management LLC Alex Haegler André Lara Resende Andrew Shores Antonio Carlos de Freitas Valle Arminio Fraga Neto Banco Itaú BMF & BOVESPA Bruno Licht Bruno Rocha Carlos Alberto Sicupira Carlos Castanho Carlos Pinheiro Junior Clóvis Macedo Diniz Ferreira Baptista Eric Hime Fabiana e Jairo Saddi Família Haddad Fernando Moreira Salles Fernando Prado Fernando Russo Fred Packard Fundação Bradesco Fundação Brava Fundação Educar DPaschoal Georg Ehrensperger Gerdau Gilberto Romanato Grupo Abril Grupo Camargo Corrêa Grupo Votorantim Guilherme Amaral Ferraz João Moreira Salles Jorge Paulo Lemann José Alexandre Scheinkman José Antonio Mourão

7 José Ermirio Neto José Olympio Pereira José Ricardo de Paulo Luis Alberto Rodrigues Luis Norberto Pascoal Marcel Herrmann Telles Marcelo Barbará Marcelo Medeiros Marcelo Stallone Mario Adler Mario Cezar de Andrade Maurizio Mauro Michael Perlman Paulo G. A. Cunha Pedro Moreira Salles Peter Graber Ramiro Lopes de Oliveira Roberto Civita Roberto Egydio Setubal Roberto Thompson Motta Roberto Walter Haberfeld Roger Wright Rogerio Castro Maia Saddi Advogados Associados Suzano Holding Suzano Papel e Celulose Suzano Petroquímica Walter Salles

8 Donors 8 Donors - Scholarship Fund 2010 Adriana Bruscato Bortoluzzo Adriano Bertoldo Alves Adriano Ortega Carvalho (alumni) Alex Harry Haegler Alex Ribeiro Pinto da Silva Ana Maria Santos Diniz Andrea Martins Flores (alumni) Antonio Zoratto Sanvicente Brena Parelli Bruno Gruner (alumni) Bruno Igel (alumni) Caio Carbone (alumni) Camila de Souza Queiroz Du Plessis Carina and Mauro Bergstein Carlos Rebouças Du Plessis Carolina da Costa Cavour Restaurante e Participações S/A Célia Regina Pizzi Christian Greiffo da Justa Menescal Clara Roorda (alumni) Claudia Bruschi Martins (alumni) Clemens Nunes Credit Suisse Cons. Ltda Cristiane Maria Sampaio Cyrela BR R. S.A Daniel Penna Kagaya Denis Ramos Morales Diego Ten de Campos Maia (alumni) Eduardo Augusto Rissi Eduardo Giannetti da Fonseca Eduardo Montenegro Dotta (alumni) Elisa Peres Novaki Emilio Motta Carmona Gerbelli (alumni) Evaldo Oliveira (alumni) Fabio da Paz Ferreira Fábio Luiz Alves de Andrade Santos (alumni) Família Haddad Fernanda Buischi Fernando Carramaschi Flavia Cerruti (alumni) Flavio De Almeida Athayde (alumni) Francine de Toledo Del Poço Cruz Franco Veludo (alumni) Gabriel Garber Galo Carlos Lopez Noriega George Ricardo Stein Gilmara Lima de Elua Roble Guilherme Amaral Ferraz Guilherme Correa Marson Guilherme Ribeiro do Valle Hani Taleb Helen Hansen Cortez Howard Stevenson Insper Jr Consulting Irineu Gustavo Nogueira Gianesi Isabel and Nelmir Rosas

9 Ivan Anuar Farha Filho (alumni) Jacques Depoca Jean François Pinto Saghaard Jessica Renesto José Alexandre Scheinkman Julia Cristina Miguel Juliana Maria Salu dos Santos Julio Cesar Brant de Almeida Julio Lima (alumni) Larissa Siebenkaess Lote 45 Participações Ltda Luca Borroni Luciana de Paula Arjona Luis Rodolfo Cruz e Creuz (alumni) Luiz Ricardo Barbosa Galdi Delgado (alumni) Marcelo de Castro Ferreira Oliveira (alumni) Marcelo e Heloisa Saad Marcelo Schimitt Marcia Maria Deotto Marcia Maria Nizzo de Moura Marcos Hashimoto Maria Augusta Ortiz Taleb Maria Ester Pires da Cruz Maria Gorete Alencar Machado Marina Kairalla Garcia (alumni) Mario da Silva Marson Maritza Seixas Elias Michael Perlman Milton Costa da Silva Natalia Maria Reimberg Mendes (alumni) Patricia de Souza Patricia Palomo (alumni) Paula Haddad and Fernando Britto Pedro Eugênio Martins Toledo Piza Pedro Vieira Lima de Albuquerque (alumni) Rafael Barbosa Santos Coelho (alumni) Regina Madalozzo Renice Aparecida Pombani Rinaldo Artes Rio Vermelho Empreendimentos e Participações Ltda Rita de Cassia Marques de Lima Castro Rita de Cassia Rebollo Roberta Beatriz Bolognesi Donato (alumni) Roberto Walter Haberfeld Rodrigo de Souza Queiroz Rodrigo Lisboa Bonafe Ronaldo Ricioli (alumni) Ronei Filgueiras Frigerio Sean R White Sérgio Giovanetti Lazzarini Sérgio Jurandyr Machado Sérgio Martins Silvia Regina Bassaglia Silvio Laban Sueli da Hora Moreira Susan Lyons Sylvio Lazzarini Tadeu da Ponte Telmo Ferreira (alumni) Executive MBA - 4 th semester class Executive MBA in Finance - 4 th semester class Vera Bechelli In 2010, the Scholarship Fund raised a total of R$ 715,000, receiving contributions from different groups: alumni, staff, faculty, Insper s Friends and individuals who are closely associated to the School.

10 Donors Mentoring Program Career Development Center (participants) MBA alumni that support senior students (Undergraduate Programs) 10 Adriana Barretta Camilo Henrique de Syllos Célia Regina Pizzi Celso Hissashi Maehata Claudio Kassab Cristiane Moreira Gonçalves Mondaini Dario Almeida Albagli Edson Gomes Ribeiro Emilia Man Yee Cheung Serafini Fabrício de Moura Fátima Maria Martins Neri Renzetti Gedival Magalhães da Silva Jr Henrique Cordeiro Mariano José Valmir da Silva Katia Korovin Luis Fernando Goulart Rodrigues Marco Aurélio Raphul Azevedo Garcia Mário Sérgio Tampellini Paulo de Castro Freitas Raquel Boarato Barreiros Soré Rodrigo Messias Ventura Ronaldo Ricioli Wellington Lopes Souza Undergraduate Ambassadors - support for the Scholarship Fund Alumni that built up a team to contribute to the Insper s Scholarship Fund. Franco Rodrigues Resende Veludo (Business Adm 2008) Caio Gracco Carbone (Economics) Clara Roorda (Economics 2008) Luiz Ricardo Barbosa Galdi Delgado (Economics 2008) Pedro Vieira Lima de Albuquerque (Economics 2009)

11 Pulsação Project Insper s quality of life program is addressed to employees and faculty and goes beyond people s well-being, integrating awareness and health promotion to the School s strategy and values. Alumna - consultant volunteer Luiza Cruz

12 2010 Retrospective Insper s accreditation by the AACSB and its new international partnerships 12 The year 2010 proved critical to Insper s process to grow internationally. The accreditation process of the Association to Advance Collegiate Schools of Business (AACSB International) establishes 21 standards for various aspects of institutional management, which are divided into the following three groups: Strategic Management the main concern of this group s five standards is the adequacy of the School s mission, which includes the sustainability of its business model and the consistency with its mission; Participants the nine standards that comprise this group focus on the students (admission procedures, academic rigor and retention, support processes and academic and career counseling) and faculty (academic and professional qualifications of the faculty and their participation in the school s processes and activities); and Assurance of Learning this group of seven standards monitored by the AACSB is related to the management of program curricula, the definition of the learning objectives of each program and the process of measuring the achievement of these objectives. The importance of this achievement can be evaluated by considering that only 12% of business schools in the world are accredited by AACSB, with only 12 of these institutions located in Latin America. In Brazil, this achievement is even more relevant, since Insper is only the second Brazilian school to receive accreditation. The school s main challenge in this process, which lasted six years, concerned the faculty. To be considered academically qualified by the AACSB, professors must hold doctorates and be actively involved in research, publishing at least two articles in peer-reviewed journals every five years. Specifically in the Executive MBA programs, which are lato sensu graduate programs, maintaining the pragmatic approach that has always marked the school s programs, while at the same time achieving the minimum level of 60% of professors academically qualified, required time and resources to develop the faculty. The result is that Insper s Executive MBA programs are the first and only lato sensu graduate programs in Brazil to be accredited by the AACSB, a feat that is difficult to match, given the characteristics of the Brazilian market.

13 The institution was recognized especially for presenting teaching and management practices classified as world-class. The evaluation conducted by the peer-review team appointed by the AACSB highlighted the following practices: othe assurance of learning process (which iscoordinated by the Center for Teaching and Learning, or DEA); the management of the faculty to meet the required academic and professional qualifications; the incentive program to encourage academic production by the faculty with a part-time commitment; the organizational model with a matrix management structure. The certification obtained by the school will expand the opportunities for students and professors to participate in exchange programs, for the production of knowledge through academic research and for agreements between Insper and international institutions. To learn more about accreditation go to:

14 2010 Retrospective 12 14

15 New international agreements The goal of internationalization was intensified with the formalization of partnerships with the following universities/business schools: Queen s School of Business in Ontario-Canada; Tilburg University in the Netherlands, and the University of New South Wales (UNSW) in Sidney-Australia, those are Insper s first agreements in those countries. With the Université Paris IX Dauphine, which is already an Insper partner, this new agreement began to offer the opportunity to participate in exchange programs through courses taught in English. Insper currently maintains exchange partnerships with over 20 international schools on six regions: South America, North America, Europe, Asia, Middle East and Oceania. Recognition by the Financial Times Ranking Surpassing its performance in previous years, Insper was ranked 13 th among the world s top schools in the ranking of Executive Education Customised Programs conducted by the Financial Times. Insper consolidated its position as one of the top three schools in Latin America. The school climbed 14 positions in the ranking in relation to 2009, when the institution came in 27 th (after ranking 42 nd in 2007). This is the fourth time that Insper is well positioned in the Executive Education ranking of the Financial Times. The programs were evaluated across a wide range of criteria such as program design, quality of the faculty, the physical infrastructure and the international partnerships offered to participants. In the Custom Programs ranking, Insper placed first worldwide in Future Use and third in Facilities (with the best educational infrastructure in Latin America). Also in the 2010 ranking, Insper participated for the first time in the category Open Enrollment Programs, placing 42 nd. Partnership with the São Paulo Police Insper and the São Paulo State Military Police (PMESP) signed an agreement to train the corporation s officials. Under the agreement, the educational institution offers full scholarships to the police officers approved in the selection process of some of Insper s programs. The scholarships offered include all lato sensu graduate programs - Executive MBAs and Certificates, and open enrollment programs in Executive Education. The agreement s objective is to contribute to the management training of police officers, which would have spillover effects on the entire community. In 2010, 42 military police officers attended a program in Insper s graduate or executive education programs. In 2011, 26 new students are expected. Case Study Collection Insper, one of the pioneers in the use of case studies in Brazil, also invests in developing its own collection. Based on the corporate contexts in Brazil and internationally, the case collection began to be compiled in 2005, and today has 24 titles that address major issues faced by companies such as Banco Garantia, Burger King, Embraer, Mesbla and others. The cases, which are available in Portuguese and English, are developed by Insper s professors, with the possibility of professors from other educational institutions participating as coauthors. To learn more about Insper s Case Collection go to:

16 2010 Retrospective 16

17 Santander Teaching Award The Center for Teaching and Learning (DEA) obtained important recognition for its activities associated with the faculty s development, with the institution receiving the Santander Universities Award, Highlights of the Year - Student Guide, in the Faculty Training category. In 2010, this initiative of Banco Santander involved 516 institutions with 5,217 projects, with the higher education institutions evaluated in four categories (Science and Innovation, Entrepreneurship, University Solidarity and Student Guide). The following activities were highlighted in the area of developing and supporting faculty members: Individual plan for faculty development, in which the professor proposes revisions to the teaching process based on student evaluations, while requesting from the School the resources needed to support these revisions as well the support required for their own development; Professor Auditing Peers Classes, which is based on the principles of mentoring, with colleagues more experienced in the school s educational approach contributing to the development of newer professors; Faculty Development Seminars that are aligned with the needs identified for improving the education offered that were identified by therevision of the undergraduate curricula conducted in scholarships to undergraduate students without the financial means to pay full tuition. The donated amount exceeded this goal by 2%, reaching R$ 715,519. There were 210 donors with an average donation of R$ 3,500, with the largest donation equal to R$ 150,000 and the smallest R$ 180. Among the donors, the institution s original Friends (persons who have contributed over the years to various projects) accounted for 94% of the total amount raised. The remaining 6% was donated by employees, members of the Insper Alumni Community and other individuals who are closely associated with the school. Undergraduate Ambassadors support for the Scholarship Fund In 2010, five members of the alumni joined forces to encourage contributions to the Scholarship Fund by students who have graduated from the school. Through this initiative they developed the case study The Role of the Alumni Community in the Scholarship Fund, with the goal of presenting it to a larger group of graduates. These alumni, who were christened the Graduate Ambassadors, worked with another 30 alumni during discussions for the case study, suggesting strategies to increase contributions by the Alumni Community to the fund, which provides support for applicants to Insper s undergraduate programs. The measures suggested through this collaborative effort will be monitored over the course of 2011, when even more graduates are expected to contribute to this initiative. Scholarship Fund In 2010, a goal of R$ 700,000 was established for the Scholarship Fund, which is used to grant The consolidation of Insper s assurance of learning cycle, from which our faculty development programs originate, is the institutional expression of our commitment to society when faced with the question: How do we know if our education is working to fulfill Insper s vision and mission? Carolina Costa - Director of the Center for Teaching and Learning (DEA)

18 Research Highlights Research Highlights in A new full time faculty member with research responsibilities was hired in Her areas of research are organizational behavior, social responsibility, corporate sustainability, ownership transactions, capital structure and organizational matters. Regarding promotions, three assistant professors were promoted to associate professor due to their performance in research, teaching and other contributions to the institution. Insper holds weekly academic seminars given by guest research professors and sponsors international seminars in various fields in which research professors from foreign institutions participate. These events enjoy broad media coverage due to the quality of the speakers and the relevance of the issues presented. One of last year s highlight was the seminar Israel and Brazil: Economic Challenges and Prospects, with the participation of Zvi Eckstein, vice-president of the Bank of Israel and professor at the Eitan Berglas School of Economics of the University of Tel Aviv; Mario Mesquita, former director of the Central Bank of Brazil; Alexander Schwartsman, Head Economist at Banco Santander; José Luiz Rossi, Associate Professor at Insper and Claudio Haddad, President of Insper. The seminar Managerial Practices and Productivity of Firms, another highlight, counted with John Van Reenen, Director of the Centre for Economic Performance, London School of Economics; Fersen Lambranho, Co-Chief Executive Officer and Co-Chairman of GP Investments; Sergio Lazzarini, Associate Professor at Insper; Naercio Menezes Filho, Full Professor at Insper and Claudio Haddad. Another initiative aimed at promoting Insper s research initiatives was the launch of Insper Knowledge, a portal focused on disseminating knowledge, in particular research and studies developed by Insper s research professors and research centers. Research Production International Papers Brazilian Papers Chapters Books

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20 Insper and the Job Market 20

21 The year 2010 was marked by the rebound in the labor market, with this scenario reflected in the indicators compiled by the Career Development Center. The Opportunities Board, which offers internships and permanent positions to students and alumni, released over 2,800 opportunities in the year (31% more than in 2009). Permanent positions accounted for 70% of the total and presented a large variety in terms of positions and fields. The number of internship positions exceeded 800 and featured a wide spectrum of opportunities. The Center also sponsored seminars and meetings and, for the third consecutive year, the Career Center implemented the Mentoring Program, through which alumni have the opportunity to share their experiences and professional networks with seniors in the undergraduate programs, who are in the process of entering the job market. Announced Internship and Trainne positions Sector of Activity Internship 15% Trainee programs 10% Financial Markets 26% Consulting 9% Marketing 6% Corporate Finance 10% Others (Strategy, Sales, Logistics, HR etc.) 24% Number of students hired for summer jobs

22 Insper Experience 22 Undergraduate Programs To what extent have students acquired the learning objectives established for the undergraduate programs? Since 2008, Insper has been working to answer this question by implementing the assurance of learning cycle for measuring students effective learning in relation to the educational objectives of the program, in order to identify learning gaps and to propose improvements to the educational process and the curriculum format. The learning goals for undergraduate students, which include problem solving, results orientation, critical thinking, teamwork and communication, can only be developed through a curriculum format that integrates various branches of learning, creating a learning experience that is consistently investigative, focused on solving real-world problems and centered on the participant (which are aspects that define Insper s educational approach). As part of this effort, the years 2009 and 2010 were dedicated to revising the curricula of the undergraduate programs. We put emphasis on establishing the basic premises and creating artifacts that will consolidate a curriculum grounded in problem solving. Above all, the curriculum should be a facilitator of a learning experience that promotes more effectively the program s learning goals and is aligned with professional future demands that students will face. We based our curricula revision on the program s learning goals and on the key questions that guide the activities of Business Administration and Economics professionals. The curricula associate each course with these key questions. This mapping allows us to change the order of disciplines and to identify gaps (for example, activities or fields of knowledge that require greater emphasis). It also encourages us to review the purposes of each discipline and to identify synergies among disciplines that are associated with each other toward common issues. We proposed a new format of class teaching plans. The objective of this new format is to help the faculty to design their courses toward key problems and fundamentals. And lastly, by including new disciplines and promoting a more pragmatic approach, we were able to include programs and activities aimed at developing specific learning objectives. The new curricula structure also allows Business Administration students to obtain Specialization Certificates upon conclusion of the program. In order to do so, it is necessary that the student completes, during the final year of the program, four elective courses (of a total of six) in one of the following areas of concentration: Marketing, Finance, Strategy, and International Business was a year of celebrations. Insper s undergraduate programs achieved excellent results in the ENADE Exam conducted every three years by the Ministry of Education (MEC). According to the General Application/Opening Ratio 1 rst semester Business Administration ,8 5,2 5,5 5, ,3 7,1 6,8 12,8 9,5 14,1 11,9 11,7 8,7 Economics 00 Application/Opening Ratio 2 nd semester ,6 08 6,6 6,7 7,2 Business Administration ,3 4,4 3,8 3,8 3,0 4,6 5,0 4,6 4,2 2,3 Economics 00 * 1 The total number of openings in the undergraduate admissions in nd semester was increased by 50% (from 150 to 225)

23 Program Index (IGC), the Economics program was ranked 4th in the country, while the Business Administration program came in 5th. These results mean that both programs are ranked first in the city of São Paulo. We also celebrated the exceptional rankings of our students in the economics exam conducted by the National Association of Graduate Centers in Economics (ANPEC), which is the national exam used in the admissions processes for masters programs in the country s main graduate schools. Eight students placed among the top 100, with three among the top 20 and a student from Insper placing in second. Insper formed a partnership with the CFA Institute, the most highly respected international institution for certifying investment professionals. According to the CFA, Insper s undergraduate programs in Business Administration and Economics cover the principal topics of the Candidate Body of Knowledge, the content on which investment analysts are evaluated for obtaining certifications such as CFA (Chartered Financial Analyst). Students in the 7th and 8th semesters can apply for five scholarships for registration in the CFA Exam Level I. schools abroad (up from 28 students in 2009) and 18 foreign students came to study at Insper (up from 12 in 2009). The planned expansion in our facilities allowed us to increase the total number of openings in the Undergraduate Admissions Examination in (2nd semester), from 150 (100 in Business Administration and 50 in Economics) to 225 (150 in Business Administration and 75 in Economics), serving demand in the market that has been approved by MEC since Undergrad Students Placed in the Job Market 3% 97% There was a significant increase in the activities of exchange students in the undergraduate programs. In 2010, 49 students from Insper went to study in partner Placed in Field In selection process Applicants 1rst semester ,406 1, ,167 1, Business Administration Economics Applicants 2nd semester Business 200 Administration 100 Economics