If the INSEAD Dean were a strategy teacher, the value curve would be transformed

But more seriously, I would expect a clear strategy and clear steps, with everyone focused on the organization. Like our Global Strategy Management Professor indicated, companies in turn INNOVATE and INTERNATIONALIZE.

INSEAD has just INTERNATIONALIZED. Now the focus must be to INNOVATE on the program itself - and the institution itself. In fact, I'd change the name institution which, for me, conveys the image of an unmovable rock, into what it has the power to be: an entrepreneur-style not for profit BUSINESS school. Objective is to become top 2/3 best program in the world and to provide a global and varied recruitment platform to equally global and varied participants.
Everyone is focused on that in the organization.
CMS is the customer (company) marketing - they pitch the program, they explain the value to the companies
Faculty is totally committed to this strategy, they teach a course when it is required because that's what the companies need
MBA Office is also totally committed. If internships are required, they will be added to the curriculum. If companies say: please match my recruitment period of September and October, the curriculum will match that and offer the last period during these months.
The School is totally committed to tehs trategy and explore synergies to the maximum: for instance Global Leadership Series Clubs will be supported by the Executive Education Program. High Flying participants in these programs will be sometimes asked to speak in school. THey will be used for networking not only by the MBA but by CMS, who would have a full time well networked staff. Campus exchange would help create extra visibility. In order to assist with netowkring activity, more flexibility would be introduced so that students could free up some time for clubs. The school would actually get very active in supporting students activities wherever possible.
Admissions and Scholarships would work in pair. They will organize dinners in which recipients and donors meet to increase visibility and awareness. They would be aware of everything's that available. A high energy person would run around the world to pitch the program, and use the high level visibility that CMS had achieved at companies to increase the amount of funds available. In order to attract a bit more women (if equal opportunities policies aren't so prevalent outside of the US), special scholarships might work as incentives. Admissions would just have to crank the handle and would need 10 extra people as demands would quickly run into red overflow modes.
IT would be top professional staff that would provide a strong support for the GLOBAL vision of the school, together with multimedia, providing a seamless experiece.
Marketing could use the success of both CMS and MBA operations to market the program to both applicants and companies. It would work on the brand and clearly explain the value to everyone.
Mediocrity would not be accepted on campus as it would not look professional, and everyone would be customer oriented, show initiative and flexibility. In fact the Entrepreneurship and Strategy department would strike a partnership deal in bringing constant innovation to INSEAD.
Members of the board would stay in touch with the school, be aware of the changes and their BENEFITS, to the brand, to the value of the MBA, to the school.
Alumni would remain very involved and would constantly offer new ideas of innovation, product diversification or internationalization, depending on the focus.


ELIMINATE
- Grades: clearly everyone would be animated by the noblest desires to re-make the world and would discuss the most incredible problems on the amphi benches, none of this mathematical nonsense.
- Exams: everyone would have to spend incredibly long nights producing 100-page reports on 5 year strategic directions for the school at the end of each period and focus on how to increase its competitive advantage or on how it could expand internationally
- Any non strategic group would be divested and the core business of Insead would have to be redefined around its new core values (determined by the strategic professor). The OB department would be wiped out as it would be considered only a satellite of business. Food would be reinstated as a core business of a France and Singapore-based business-school with an international scope.


DECREASE
- Any operational class such as Process or Project Management, IT unless it relates to strategy, Finance unless it allows you to sweat the numbers of a strategic problem

IMPROVE
- The long term thinking of the school. There would be working group and task force for any key issue and everybody’s participation would be strongly encourage by a negative payoff of “no graduation unless you produce decent results about school positioning on the chessboard of business school, marketing strategy, food strategy to retain best talent, why we can get rid of the Z-curve and replace it by other performance measure such as market share of brain power, number of cases written in a year, increase in tuition fees and revenues, decrease in IT costs, etc…


ADD
- An INSEAD Corporate Strategy looking at shaping the world in 10 years from now. Napoleon and Cesar would become the two role models for the school and their statues would greet visitors in the Camembert.