The Wharton School of the University of Pennsylvania and INSEAD have signed an agreement to continue their educational alliance for another three years, the schools announced Tuesday. Since 2001, students from both schools have participated in an exchange program which enables MBA and PhD students to study across three campuses: INSEAD's in Fontainebleau, France and Singapore, and Wharton's campus in Philadelphia.

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Dean of Wharton School and Reliance Professor of Management and Private Enterprise Thomas S. Robertson says a global business education requires three key elements: a diverse student body, global content in teaching materials, and faculty engaged in research that impacts global companies.

"A diverse student body working together both inside and outside of the classroom is essential," Dean Robertson says. "This year's entering MBA class is more than 30% non-U.S., so they all bring different perspectives, which enriches the overall learning experience for everyone."

Students in the Alliance benefit from courses and opportunities illustrating the strength of both INSEAD and Wharton. For example, many Wharton students choose INSEAD for the Blue Ocean Strategy courses created by INSEAD Professors Kim Chan and Renée Mauborgne, while INSEAD students profit from the exposure to US companies and culture offered at Wharton.

"The strategic alliance between Wharton and INSEAD is based on the shared belief that tomorrow's market leaders in management education must have global reach and be part of a global business education and knowledge network with a leadership position in America, Europe and Asia," says INSEAD dean Dipak C. Jain. "The two schools also share common values regarding the role and importance of lifelong business education."

INSEAD's Alliance Director Serguei Netessine reveals that funding for joint research efforts between the two schools has increased in the last few years, and more PhD students are taking advantage of these research funds to conduct their work on three continents. This year, PhD candidates from both schools have organized the first research conference, to be held in Fontainebleau, France, on the topic of global strategy, Netessine adds.

"It's really allowed Wharton students and faculty to take advantage of each school's breadth and depth of connections. There have been a very successful student exchange program, several successful joint executive education programs, new research collaborations, and various other initiatives in the works," says John R. Kimberley, Executive Director, Wharton/INSEAD Alliance.