If the Dean of the MBA program was an Accounting professor, everything will be oh so organized.

Whenever you’d take a class, you would receive an automatic ticket that would indicate the number of credit left for you to graduate, the number of classes of that same course are left for you to take, the place and time of the next class and a summary of the homework due next class.
You could print out financial receipt for the tax authority, replenish your catering account and find out what your grades are by just swapping your ID card and entering your pin code.

Seriously - the number and type of electives to be offered would be much more dynamic. Every period, INSEAD would monitor the electives that go to bidding and lock these into the elective grid so that they are guaranteed for everyone. Then, there would be a choice of two electives by free slots. The most demanded electives win the slot.
There would also be a clear link between investments (such as good permanent people in the CMS department, vs transient people), or more people in the Fund and Scholarship department - and returns (better quality of students, higher acceptance rate, more funds, etc...) to help monitor the quality of these discussions.

Every activity would have a suggested time to completion, and you could enter all your task into a Monster Planning tool to get the best possible use of your time to maximize your return on investment. You would book your time to a billing code (E for Eating, D for Drinking, PS for Personal Study, GS for Group Study, the course code for course work, CMS for Job Search, N for Networking, A for Admin work, etc…) and INSEAD would monitor how much time you spend in non academic activities and optimize its process to minimize this time. It would also allow you to perfectly estimate the duration each task would take you by relying on this historical data and help you make decision around what to work on when you get closer to exam time.

You would know the cost of each class and if you were to miss one, you would get an email message indicated that you have just wasted x Euros on Strategy. This would work as an excellent incentive to keep you in class.

Every INSEAD department would be closely monitored and their efficiency levels would improve dramatically year on year, as their return on assets would rise to all times highs to finally be on the par with GE.

INSEAD would keep clear and open accounts and share its financial results and investment decisions with its faculty, board members, donors, workers, MBA participants and graduates. It would hold quarterly conferences and publish a private early report. Everyone donating money to the program could make suggestions as to how it could best be run, and would get feedback on their ideas. The use of the money would be totally transparent thus encouraging donors to give again year on year. Utilization rates of the money would become better and better (no wastage) and would be published in these reports. Quality levels would remain high.