MBA Modules Outlines

Corporate Governance & Stakeholder Management (IB94K0/IB94KL) Corporate governance is closely related to stakeholder management. High-performing firms

successfully engage with their stakeholders (i.e., with their shareholders, employees,

suppliers, customers, and local communities). These stakeholders often make valuable

contributions to the firm’s long-term success. However, they only keep making these

contributions if they see that the firm protects their interests. This leads to a range of

fascinating questions: How should managers protect the interests of shareholders and other

stakeholders? Who should be represented on the Board? How should managers and Boards

be made accountable to the different stakeholders? How should managers include

stakeholders in their strategic decisions?

These questions are at the core of corporate governance. We will begin with tools for

stakeholder analysis and with important insights from economics, psychology and sociology.

These insights will help us examine the many different facets of corporate governance, such as

the Board (its structure, diversity, and internal dynamics), shareholder activism, international

corporate governance, corporate social responsibility and risk management. We will explore

how corporate governance varies in different countries (in Anglo-Saxon “liberal market

economies” and in most other countries’ “coordinated market economies”). For managers,

these differences can lead to very tricky challenges, especially after international mergers and

acquisitions.

Corporate governance is very topical (see, for example, recent debates in the UK on increasing

diversity among managers and directors, or on foreign control of companies), and it is

increasingly important for firm performance. Managers at all levels face the challenge of

prioritizing among the legitimate interests of different stakeholders. The objective is for

students to take with them a strong and robust skill set for understanding the requirements of

today’s business environment, why failures happen and what can be done to ensure better

behaviour for the benefit of shareholders and other stakeholders. This is a very useful module

that covers a fast-growing area of consulting-related work, and it is also applicable to strategy

and general management students.

Corporate governance and stakeholder management are relevant to firms of varying size,

business activity and geographic location. Students will understand the theory and practice of

corporate governance and its role in the strategic management of the modern corporation.

Module Aims / Objectives 1. Understand what is meant by corporate governance and stakeholder management in the

modern corporation.

2. Appreciate why corporate governance and stakeholder management matter for firm

performance.

3. Learn the main tools for stakeholder analysis.

4. Obtain an overview of corporate governance theories and their interdisciplinary origins in

economics, psychology and sociology.

5. Apply corporate governance theories to develop a rich understanding of concrete case

companies and their Boards.

6. Consider the Board as an important element of corporate governance and stakeholder

management.

7. Critically examine structural features and internal dynamics of the Board.

8. Consider specific topics in projects, such as Board diversity, corporate social responsibility, risk

management and shareholder activism.

9. Critically examine different national approaches to corporate governance and stakeholder

management (that are influenced by different legal systems, codes and cultural norms).

10. Appreciate the tensions and conflicts in international mergers with different corporate

governance systems.

Behavioural Science for Managers (IB9AP0/IB9APL) In this module we will examine current ideas in behavioural science, and show how they can be used to improve managerial thinking and decision-making. The module will incorporate a wide range of viewpoints from leading figures in the field. You will learn:

how basic principles of behavioural science and behavioural economics directly link to human behaviour

the role played by chance in decision outcomes, and how we can be 'fooled by chance' and avoid being fooled

when you should follow the lead of exceptional performers, and when you should follow the more cautious

biases in judgment, including overconfidence and blind spots what makes a great leader when do opportunities exist in markets and learn about mistakes and biases in strategic

reasoning Why people and organisations often make overly optimistic forecasts, and learn an approach

to overcoming this tendency - when eliminating the tendency is in your own interest ethical traps and how to avoid them.

You will be encouraged to reflect critically on your own assumptions about how people reason and form preferences, where the term 'people' includes yourself, your competitors, your collaborators and your customers. We expect you will be surprised and invigorated by what you learn.

Advanced Corporate Finance (IB94E0) The module in Advanced Corporate Finance aims to provide students with a deeper understanding of corporate finance theory and practice. The module involves lectures complemented by class discussion and class questions. These classes allow the students to fully connect with the material and practice using the techniques taught. The module includes case studies to further reinforce the learning objectives and ensure students gain a perspective relevant to their professional requirements. Finally the topic is examined by an individual case study in which the student can apply the module material to analyse a specific problem that is likely to arise in the world of business. The module emphasises both intuition and application and delivers various valuation techniques. Objectives After completing this module, students will be able to:

Use free cash flows and multiples for equity valuation. Understand option contracts and basic option valuation methods. Understand why traditional NPV rules are deficient and evaluate real options examples. Evaluate a firm's cost of capital and target capital structure. Discuss different approaches firms use to raise capital. Understand debt capacity and its role in leverage buyouts. Discuss payout policy and issues in international corporate finance.

Module pre-requisite The essential pre-requisite module is the core Accounting and Financial Management. In addition, it is desirable (though not essential) that students complete the Corporate Finance elective in advance of this module.

International Business (IB9S10 / IB9S1L) This module is designed to introduce the student to major concepts in international business from the manager's perspective. It covers a wide range of issues relating to the international business environment and applies these considerations to managing the international firm. Disciplines such as international economics, international finance, and business strategy are introduced within the context of international business. However, both the text and the classes are intended to present these materials in the context of the manager's decision processes. Abstract treatment of theoretical issues will be minimised in favour of understanding and relevance to the current or potential manager of an international company. A significant portion of the module will be devoted to the strategies, structures and internal systems of the multinational enterprise (MNE). The complex international environment increases the need for a true understanding of strategic management of the firm. As more countries join the ranks of the industrialised nations, the sophistication of the global market and the number of global competitors have eliminated any advantage to a simple presence in international markets. Today, the multinational must employ strategic thinking to compete successfully. The essential task of the manager is to analyse the demand and cost conditions facing the firm and to develop alternative courses of action which will place the firm in a position of advantage. At the end of the module you should be able to:

Select and use specific analytical frameworks from a range of approaches that help solve common international management problems.

Assess the sources of relative national comparative advantage and how these relate to the competitive advantages of multinational firms.

Evaluate the strengths and weaknesses, and the threats and opportunities, for a firm in a particular global industry context.

Understand cultural and institutional differences and how they influence business practices in different parts of the world.

Recommend an international corporate strategy and an appropriate global organisation structure.

Perform a country analysis and compare business opportunities across different market contexts.

Develop a market-entry strategy and understand the process of negotiating local investment options with host-Governments.

Understand the underlying conditions of the international economy that influence competitive activity.

Requirements The module is structured around a combination of lecture, discussion and case analysis. Conceptual material will generally be developed from the text and presented in a lecture format with discussion. Current issues in a variety of fields will be based on supplemental readings and addressed by in-class discussion. Application of these concepts and issues to the management of companies will be largely presented through case analysis and discussion. The final day will be taken up entirely with a simulation and team-based exercise (FINS) which explores the complex process of forming international strategic alliances and negotiating with government agencies to gain access to emerging markets.

Healthcare Improvement (IB9FLL) This module focuses on influences on, outcomes of, and ways of delivering healthcare improvement in practice. The module aims to enable students to extend their understanding of the theoretical issues at play in healthcare improvement, across international contexts. By integrating theory with real-life case studies students will develop an understanding of healthcare improvement strategies which can be applied to their own organisational context. This module is based around real-life case study examples of healthcare improvement in practice. The case studies will encompass four dimensions of healthcare improvement: - hybrid clinician leadership - patient experience, safety and involvement - improvement in international contexts (inc. ageing populations; resource poor environments) - organisational environments supporting knowledge sharing The rationale for this module is to enable students to identify the key theoretical influences on healthcare improvement projects, and apply the theory of these examples to their own organisational context. This will enhance organisational behaviours in a range of settings Principal Module Aims - Understand the theoretical influences on healthcare improvement projects in a range of international settings - Apply their extended understanding to healthcare improvement projects in their own organisational environment

Digital Innovation in the Healthcare Industry (IB9130) The module starts with the premise that a fundamental restructuring of the healthcare industry is underfoot, where health strategies will be radically altered to reflect the digital (big) data revolution. The imperative is to have a digital strategy rather than just a business strategy. This calls for the need to innovate, where healthcare stakeholders are looking to new technology solutions, actionable insights, cross-industry collaboration and engagement for improved health care delivery. The module will examine the challenges and opportunities involved from a number of disciplines and perspectives. The module will enable the students to explore theories, concepts and research findings, broadening their understanding of the growth in digital innovation in healthcare whilst considering the key factors impacting on digital healthcare solutions. The module conceptualises the digital revolution and impacts on the health care industries. In particular it reviews the role data and data science have in supporting health care and health care delivery. The module builds on some core concepts to highlight trends and developments. The module is structured as follows:

Understanding digital innovation in the context of health care and health industries

Understanding the practice data and data science in health care

Using digital innovation and data science to support health care

Reviewing major trends and emergent innovation

Strategic Leadership for the Healthcare Industry (IB9FKL) The face to face teaching sessions are delivered over four days on a Friday and Saturday, with a week off in between Days 1 & 2 and Days 3 & 4. Days normally start at 09:00 am and can run through until 18:30. This module will focus on the following topics:

Policy and global health context;

UK hospital reform;

ambidextrous leaders;

institutionalising change in healthcare;

using and mobilising knowledge;

collaborative knowledge processes;

health ecosystem dynamics and becoming a strategic player in the wider health ecosystem Principal Module Aims

Consolidate and develop knowledge of theories around health systems;

Apply critical thinking to strategic issues related to health organisations;

Review and reflect on global contemporary leadership challenges in the healthcare industry.

Strategic Marketing (IB9S40/IB9S4L)

The Strategic Marketing module provides you with the opportunity to apply some of the concepts

from the Marketing module. The module looks at managing in markets in the long-term from a

wider perspective. There may be long-term growth or decline but often the changes tend to be

small and slow. Markets can undergo significant changes in the long run with major redefinition

and restructuring based upon customers (channels), consumers and competitors - but again these

changes tend to be slowly evolutionary rather than rapidly revolutionary.

Objectives

The module considers a range of topics related to the analysis and interpretation of

patterns of customer and competitor behaviour in the evolution of markets. It

considers in particular the ways in which analysis of long-term effects can be used to

influence strategic choices within the firm in the broad marketing domain. It critically

examines the nature of the evidence and knowledge that is available in this context

and through the use of examples, case studies and simulation, aims to relate theory

and practice in this area.

We should however issue a very important health warning at this stage. The pursuit

of success in the competitive marketplace is inevitably fraught with problems: there

are no clear answers, merely hints and possibilities; the evidence is patchy and

contradictory; and, finally, solutions which seem to work in one time period often

unravel in later ones.

In strategic marketing, we can either downplay this issue, present outlier performance

as if it was a reasonable average, uncertainty as certainty and pretend there is a

universal money machine available for the cost of a textbook or we can confront the

underlying problem of limited knowledge and evidence.

This module takes the latter direction, in the belief that a critical assessment of today's

panacea and schemata will equip you to make not only a much more balanced

assessment of their value but also, more importantly, make an equivalent evaluation

of the new tools and techniques that become available in the future.

However, some of you might find such an approach frustrating and annoying. After

all, in many situations it is more important to act rather than think too much and if

the actions taken have to be justified the recourse to simplifications may be just what

we need to build commitment and purpose. We will try and link a concern for action

with a critical perspective on evidence and argument but we hope you, as participants

will not be surprised by the balance of the module.

Economics in a Global Environment (IB9FA0) Module Overview

Exposure to the global economy brings new ideas, technologies, and management practices to

a business. Whether the business is looking to build a new plant, sell to a new market, or find

global business partners, exploiting opportunities in new markets or regions poses fresh

challenges related to the business environment. What does an understanding of economics tell

us about which countries and regions will see markets develop quickly in the medium term?

Which governments act in ways that pose macroeconomic risks and which do not? How can

resources and intellectual property be managed effectively? Which economic theories offer

strategies to foster talent and help staff respond to new opportunities?

The patterns of world trade and the responses of governments have always been in constant

flux. Businesses can't rely on traditional markets in the medium to long-term. The global

financial crisis, and its aftermath, disturbed global economic growth patterns, leaving many

feeling excluded from the gains to trade. The associated impact on inequality, together with

the contributions of markets and governments invoke strong reactions from politicians and the

public. In this evolving global economic environment, business investment decisions require an

appreciation of economic thinking.

This module provides real world examples and case studies to illustrate how economic thinking

helps businesses make the most of new opportunities, while managing the risks associated

with expansion into new markets and regions. The module is designed to complement the core

Economics in the Business Environment (EBE) module. EBE considered how a company

competes in a market and how certain markets are influenced by short-run business cycle

fluctuations. In contrast, this module explores the global economy in greater detail, with an

emphasis on longer-term business priorities: how trade and investment foster economic

growth; how markets change over time; how companies manage various risks, including the

potential for politicians to shift market regulation. What do you need to know to make good

decisions for the longer term in the global economy?

The module has been developed for general managers and draws on ideas and research from

macroeconomics, microeconomics, international finance, energy, resources and development

economics. No previous experience of economic analysis is required.

1. Indicative syllabus

The syllabus for the module covers four themes:

Trade, markets and the global economy

Economic growth and international finance

Market-led and state-led economic growth

Property rights and technology

Mergers & Acquisitions (IB831L) The module is designed to provide students with a broad understanding of mergers and acquisitions (including strategic alliances) and, by using a multi-disciplinary approach, the impact of other disciplines/specialisms, e.g. human resources management, strategy, that students will have studied or been exposed to on their MBA programme. The module will therefore provide a richer more rounded view of M&A than would be achieved focusing on a single discipline, typically, finance. Learning Outcomes

To understand M&A activity

To understand the impact of other key disciplines on M&A

To be able to understand the key elements of M&A activity and its role as a corporate

activity and to be able to assess potential and actual transactions and their aftermath

To be able to analyse M&A transactions effectively and critically using a variety of

theoretical and practical techniques and from a range of disciplines from finance through

to human resources.

Finance and accounting analysis

Developing a balanced analysis using several disciplines

Researching to gain sufficient information to be able to meaningfully analyse transactions

Operations Advantage (IB9GJ0)

Operations are critical to all organizations. It is at the core of what they do. Without operations

organizations wouldn’t exist. Despite this criticality, they are often viewed as non-strategic. However,

many of the most successful organizations make operations fundamental to how they achieve long-

term competitive advantage. In other words, they create Operations Advantage. Wal-Mart’s success is

built upon how they design and manage their operations, from suppliers through to store staff.

Netflix’s success is also built on operations, they changed from being a broker in a network through

vertical integration to a producer of content.

In Operations Advantage we will discuss how operations is more than processes and productivity.

Operations can also provide increased value to an organization and its customers. In this module, we

will discuss how this can be achieved. Operations must consider the extended enterprise, from

suppliers to customers and how the organization needs to take strategic choices around what they do

and don’t do, as well as can and can’t do. Organizations can choose to vertically- or virtually-integrate

with their supply chain based on the capabilities that they and their network have. Once these

operations design decisions are made it is time to manage the operations for strategic advantage.

Creating strategic advantage through operations requires organizations to manage relationships

within their network in an appropriate way while ensuring that what they provide – whether that be a

product or service – has the right quality for the customer. In other words, providing customer value.

Complicating this is a need to provide value, while the organization makes profit, or surplus if in the

public sector. This is the domain of lean thinking and performance measurement. Operations

advantage can be achieved, but only when all of these areas are considered and brought together. We

look forward to welcoming you onto the module.

Indicative syllabus

Define what Operations advantage is and highlight which firms are exemplars;

Explain the types of innovation and the roles they play in providing competitive advantage;

Assessing the Do/Buy decision and how it is arrived at;

Explain what supply chain strategy is and define the different types;

Define interorganizational relationships and explain the differences in them;

Demonstrate what make operations improvement strategic;

Classify service quality and interpret recovery strategies;

Analyse and evaluate Lean thinking;

Demonstrate performance management and measurement systems and approaches, and;

Design an strategy map for operations.

Managerial Economics (IB9160) This module provides students with the concepts and tools to undertake an economic analysis of strategic decision making issues facing managers in firms and other institutions. It aims to explore the application of rigorous and relevant economic theory to corporate decisions in an uncertain environment. In the process it will build on some of the core economics principles first introduced in the “Economics of the Business Environment” (EBE) module. By the end of this module students should be able to: Understand the factors which affect the nature of competition and competition policy; and how they affect the strategies and performance of business enterprises

Apply game theory to the analysis of business decision making

Appreciate the importance of asymmetry of information in economic relationships and

discuss some its implications for the optimal design of employment contracts.

Understand why firms exist and how they organise and coordinate their activities and resources

Appreciate how economic principles can be used to assist firms in dealing with

uncertainty in the economic environment

Recognise both the potential and the limitations of using economic analysis to improve

decision making in both profit and not for profit organisations

Negotiation Theory and Practice (IB9GEL)

The module will provide the theoretical, analytical and empirical tools to negotiate in work settings.

It is cross-disciplinary as it draws from behavioural science, organizational behaviour and industrial

relations. It builds on and complements existing MBA modules (notably OB, Leadership and

Behavioural Sciences for the Manager).

We work daily with clients, colleagues and bosses that have different values, ambitions, risk

preferences, degrees of patience loyalties, and prejudices. Effective negotiation can help reconcile

or transverse these differences. To succeed in business (and also in life) we need to resolve or

circumventing conflict, distribute value across multiple parties and also ensure that some of that

value remains with us.

The premise of this module is that good negotiators are made, not born. This module brings the

opportunity to practice negotiation skills in a non-threatening environment and develop

confidence.. Even for experienced negotiators, this module adds value by giving structure

underpinned by theory, offering a multi-level perspective on negotiations (dyadic, organizational,

inter-organizational), allowing participants to experiment in complex multi-party negotiations, and

by forcing participants to reflect upon and further develop their own negotiation style.

Strategic Leadership Development (IB9FYL)

The Strategic Leadership Development module is an advanced leadership module that builds on

our existing leadership offerings. Our existing leadership offerings have a very strong focus on the

individual self, the ‘leader’. They build students’ understanding of what leaders do, how they think,

act and make judgements. The emphasis on the Strategic Leadership Development module, which

builds on this path of self-discovery, is to look critically at strategic leadership development, that is,

how do individuals and organisations build capacity for leadership, at the organisational level. It

examines the complex processes of leadership development and how each of these can influence

leadership effectiveness in the volatile, uncertain, complex and ambiguous world. It does so

through experiential learning, group discussion, exercises, where students will have to reflect

critically on their leadership development skills. All these, make this module very different to our

existing offerings and a very attractive module to students who aspire to improve their leadership

development skills.