IMD, the top-ranked business school focused on executive education, has received US$10 million from Cisco to become the world leading destination for research, innovation and leadership to drive digital transformation to all aspects of enterprises, in every industry.\nCisco intends to fund the Cisco Chair in Digital Business Transformation and create the IMD\/Cisco Global Center for Digital Business Transformation, on IMD\u2019s campus in Lausanne, Switzerland. It will be fully operational later this year, according to IMD..\n\u201cThis new global centre will operate at the intersection of technology and organisations,\u201d says Michael Wade, professor of innovation and strategic information management at IMD.\n\u201cIts main goal is to help executives who are struggling with the \u2018how\u2019 of digital business transformation. These executives know that they must change and adapt to digital opportunities and threats, but they don\u2019t know how.\u201d\n"IMD stands out among the top global business schools because of its unique applied model of management education, which will be instrumental as we seek to help our customers manage through rapid market changes due to digitisation," says Edzard Overbeek, senior vice president, Cisco Services. \u201cTogether, Cisco and IMD will \u2018write the book\u2019 on managing transformation in the new digital age.\u201d\nBy conducting original research, the Global Center for Digital Business Transformation will work to define digital business transformation, what it means for companies today, and how to stay relevant in today\u2019s competitive marketplace, IMD says in a statement.\nEmploying full-time researchers from both IMD and Cisco, the centre will produce cutting-edge thought leadership and organise learning events. It will also work with Cisco\u2019s innovation centres around the world.\nSend news tips and comments to firstname.lastname@example.org\nFollow Divina Paredes on Twitter: @divinap\nFollow CIO New Zealand on Twitter:@cio_nz\nSign up for CIO newsletters for regular updates on CIO news, views and events.\nJoin us on Facebook.