damaged by corporate scandal in 2002.Transparency is the key word.
Investors must be given better access to information so they can make up their own minds about the 'health' of a firm. Companies in the US may have to split the roles of CEO and Chairman of the Board, as well as employing more non-executive directors. Auditing standards will also be tightened. Finally, there will have to be more independent research into business sectors; research which isn't linked to investment banking revenues.

How are HEC students prepared to deal with these challenges?
Students use recent case studies and learn about possible responses to such difficulties. They are taught to scrutinize industries or sectors, then to assess the merits of a particular company, and then to study its competitors. By such processes, they learn how to achieve and sustain competitive advantages in the business world.

Finally, you came to HEC from Stanford. What attracted you most, and what do you think you've been able to contribute to HEC?

Colleagues and friends I knew from France recommended HEC as the best French business school, and also said it offered the best opportunities to immerse and integrate myself into the French culture.
Since I've arrived, I've brought my trans-Atlantic teaching style into the classroom, where I encourage students to participate actively and to take charge of their own learning as much as possible.

Professor Faye Steiner’s page
Ms. Faye Steiner, Assistant Professor in Business and Strategy at HEC, outlines the main stakes for companies in 2003.

The year 2002 was a difficult year for companies across the world, and 2003 looks equally challenging. Why?

Politically and economically, there's considerable uncertainty as we go into 2003, with the possibility of conflict in Iraq, the ongoing war on terrorism, low levels of growth in almost all economies, rising unemployment and faltering technology industries. Moreover, the full implications of last year's corporate scandals have yet to be felt.

So how are businesses and corporations going to negotiate the potential pitfalls?

Though some of these problems are simply beyond companies' control, the challenging climate means firms will have to vigorously evaluate their key competencies and strategies. They may have to re-focus their activities, and pull out of certain sectors. The problems they face may require a partial or radical repositioning of their businesses. This is all the more important for corporations, which have concerns in a range of different industries.

Business also needs to regain investor confidence,