Executive MBA a multifaceted education in a unique environment
Welcome to the
International University of Monaco Experience Monaco where business is a way of life The Principality of Monaco is renowned for its highly varied, international population with more than 100 nationalities represented. It provides the ideal backdrop for students to learn and grow in a truly multicultural environment, inside and outside the classroom. Business is a way of life here, and the Principality boasts one of the highest GNP per capita in the world. There are more than 4600 companies, of which many are subsidiaries of international companies. Low taxation encourages entrepreneurship and business development, especially in sectors such as banking, finance, engineering, tourism, and services. In Monaco you can start making connections and build up your business straight away, both within the University and in the business community which is right at your doorstep.
Be part of one of the most unique universities in the world The International University of Monaco is an international institution dedicated to educating business leaders through programs based on a global focus, entrepreneurial spirit and a humanistic approach. It is recognized as one of the pioneers and leading specialists in graduate education worldwide. The learning process at IUM is based on a highly demanding and rigorous approach, as well as listening and active learning participation. This approach contributes to make the University a place of intellectual and practical exchanges of the highest level.
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Why study an Executive MBA at IUM? The Executive MBA program at the International University of Monaco offers a comprehensive selection of courses to become a top business manager with a deep understanding of today’s important business issues. It will give you guidance on problem solving in the work place, how to make the most of every business opportunity as well as unique networking environment. The program is set apart from other executive programs as it offers a truly global experience in the heart of one of Europe’s most important business centers. The curriculum has been carefully structured to allow students to hold a full time job while pursuing their graduate degree. The IUM Executive MBA has been designed by top academics in their field to be a unique combination of 5 components, that provide students with the specialized knowledge and skills necessary to manage their business effectively in a rapidly changing environment, with multicultural and multinational workforces.
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Advanced Knowledge in Global Management Issues
At IUM, we are fully aware of the complexities of running a business in a global market. We use proven business models to create a very special approach to the learning experience. This philosophy is apparent in our faculty who are highly specialized in their chosen field of expertise.
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Entrepreneurial Spirit
IUM is the epitome of the true entrepreneurial spirit, it was created by an entrepreneur and the university has been run on the principles of entrepreneurship. Students are encouraged to apply the positive “can do” attitude to their studies and their careers.
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An intensive learning process
Our 15 month long program has an intensive and highly integrated structure engineered to equip students with the set of competencies that underlie sound business leadership. The virtual learning environment used for online study allows students to participate from anywhere in the world. As the learning process runs parallel to their working schedules, participants can immediately implement the knowledge acquired.
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Personal attention
To provide the necessary mentoring and the attention required for developing each student’s potential, the IUM Executive MBA program is taught in small classes. Each student receives regular individual feedback by our qualified faculty at each stage of the learning process. Case studies prepared in teams place students in real business situations; workshops and group projects help participants develop a managerial behavior.
A comprehensive program with flexible schedules
The Executive MBA at IUM is designed on a modular basis, with each module comprising distance learning sections and intensive on-campus stages. This format allows participants to manage their business while studying and optimize their time management at their convenience.
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Program outcomes
A word from the program director
IUM faculty will have immediate relevance and impact when you are back on your job - your degree will start working for you before you have even finished it.
An Executive MBA is not an end in itself, but a means to an end. It is a degree designed to give you the ability to develop your career to its fullest potential, at an accelerated pace.
A team of professors and experts in diverse business disciplines provide in-depth knowledge in core business areas. The Executive MBA uses a multi-dimensional approach of lectures, small group discussions, and case studies to provide new insights and allows participants opportunities to apply them.
In today’s rapidly changing competitive environment, executives must be adept at moving quickly out of their comfort zone to build new capabilities as leaders. The Executive MBA program prepares fast-track executives for moving from mastery of one area to a broader role. Specifically designed for mid- to late-career managers with 7 years of experience or more, the Executive MBA gives you the structured learning experience of a regular MBA program in a convenient format without interrupting your career.
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You will broaden your core business knowledge in areas such as strategy, marketing, finance, and negotiations as you benefit from the expertise of participants from a wide variety of industries, cultures, and geographical regions. The knowledge you gain in group discussions led by
Our curriculum is more than a list of courses, each taken independently. Instead we integrate our modules so you experience a program in its true sense. The Executive MBA provides students with an individualized teaching experience, small class size, and personal attention. This is what underpins our philosophy of focused, rigorous and ongoing education. We believe every student has something to bring to the learning environment. We create and encourage a culturally diverse student body that is sensitive to, and appreciative of, cultural differences. Welcome to the IUM Executive MBA! Dr. Claude CHAILAN, EMBA Program Director
What will you get out of your EMBA at IUM? On completing the EMBA you will: Master the necessary knowledge, skills, and behavior in order to become a top level manager Be able to apply models and theories immediately in your job Become an efficient problem-solver and a well informed and creative manager Gain confidence and the skills to excel in a rapidly changing and globalized world.
Get a return on your investment The IUM Executive MBA will transform your career in ways that extend far beyond traditional measures of return on investment. The degree you earn will position you to compete and succeed in your career, and will provide added value for both you, and your organization. You will improve your analytical, decision-making, implementation, and presentation skills, and develop a new way of thinking that will become integral to everything you do. Our graduates say they have increased self-confidence in all aspects of business. You will gain from each class module handson experience, new skills and perspectives that you can put to work right away.
OVERALL INCREASE IN SALARY AS A RESULT OF AN EMBA 250.0% 200.0% 150.0% 100.0% 50.0% 0.0% Immediately Post MBA Adjusted
3-5 Years Post MBA
6-10 Years Post MBA
Unadjusted Source: The association of MBAs
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Program Design
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The Executive Master of Business Administration at the International University of Monaco is a 15-month, 54-credit degree program. The program is divided into six independent modules, with two courses per module. Courses are internally related within each module; and hence are integrated within the larger program structure. Module I
Module II
Module III
Module IV
Module V
Module VI Entrepreneurship
Governance, Business Law, and Ethics
Managerial Economics
Financial Accounting, Reporting, and Control
Human Factors in Organizations
Marketing Management
Logistics, Operations, and Supply Chain Management
Strategy and Global Competition
Corporate Finance
Data and Models
Customer Relationship Management
International Negotiations and Sales Management
The program integrates on-campus and distance learning, and is designed to enhance already-flourishing careers. It has been designed to fit the needs and requirements of today’s managers.
Each module consists of three instructional components: the online study period, the on-campus session, and the individual application project. On-line study period
On campus session
Individual Application Project
During the 6-week online study period participants are required to prepare for their on-campus courses by completing all required reading and preparatory assignments set by their instructors. This component is completed in a distance learning format entirely online.
Although the EMBA is designed to be completed in 15 months, students may take up to 30 months from the time of entry to complete the program.
Thorough preparation is the key to successfully completing the EMBA. Participants are expected to make a significant learning effort during on-line period and should expect to spend approximately 10-15 hours per week outside class for study, class projects, reading, and preparation.
EMBA participants utilize the International University of Monaco’s Web-based e-learning platform – ELIUM – to complete the on-line study period and the individual application project of each module. They also use ELIUM to stay in close contact with fellow participants and their instructors, download course notes, syllabi, and other materials, and to thoroughly prepare for the intensive on-campus session.
During the 6-day on-campus session participants take courses at the IUM campus in Monaco. Each on-campus session runs over six consecutive work days. Participants should therefore count on spending six weeks away from their workplace to attend these sessions.
The EMBA is taught entirely in English.
4-week preparation of their individual application project participants complete final assignments During the
set by their instructors and then submit them online.
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Course Descriptions EMBA courses present an overview of key functional areas by providing a strong knowledge base in subjects like economics, finance, accounting, statistics, marketing, strategy and the legal environment of business.
Module I Managerial Economics
Sound economic analysis has never been more important regardless whether the decision-making unit is an individual, household, firm, non-profit organization, or government. We use a modern treatment of economic theory to help students both understand and improve the managerial decision-making process, whereby we concentrate on micro economic and macroeconomic topics of particular importance. The integrative approach used in this course demonstrates that important managerial decisions are interdisciplinary as effective management is seen to involve an integration of the accounting, finance, marketing, personnel and production functions. Therefore, the business firm is treated as a unified whole, rather than a series of discrete, unrelated parts.
Strategy and Global Competition
This course focuses on the environment in which global strategy is developed at the corporate, business, and operational levels. Particular attention is paid to the processes, competencies, and vision of top management; competitive positioning; understanding comparative costs; and addressing issues such as cannibalization, network externalities, and globalization. Participants will hone their skills for formulating strategy by developing an understanding of a firm’s operative environment. They will master a range of analytical tools and then demonstrate the ability to take an integrative point of view in using these tools to perform in-depth analyses of industries and competitors.
Module II Financial Accounting, Reporting, and Control
This course provides a general overview of how accounting contributes to an organization, especially since it is the primary channel for communicating information about the economics of a business. Participants will learn the concepts and language of accounting; the ways it can be used as an effective tool for communication, monitoring, and resource allocation; and the terminology and jargon of financial statements and accounting reports.
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Corporate Finance
This course is divided into two parts. Part 1 examines the role of finance in supporting the functional areas of a firm and fosters an understanding of how financial decisions themselves can create value. Topics covered include basic analytical skills and principles of corporate finance; functions of modern capital markets and financial institutions; and standard techniques of analysis, including capital budgeting, discounted cash flow valuation, and risk analysis. Part 2 builds on the foundation developed in part 1, focusing on a number of managerial decisions: how to evaluate complex investments, how to set and execute financial policies within a firm, and how to integrate the many financial decisions faced by firms. Participants will learn methods for reviewing the range of issues confronting a corporation as it determines the role of financing in the enterprise such as financial analysis, capital budgeting, capital structure, and cost of capital. They will also learn valuation techniques, ways to manage working capital, how NPV and valuation techniques are related, and methods for managing debt and equity financing.
Module III Human Factors in Organizations
This course focuses on the variables that affect behavior at the individual level and then goes on to a thorough examination of the foundations of group dynamics – all within the organizational context. Participants will learn how leadership, power, politics, and conflicts can affect behavior and their implications for performance and satisfaction. They will also develop the ability to recognize the influence of these factors on organizational system-level variables.
Data and Models
This course covers the basics of classical statistics including summary measures of data, graphical presentation of data, random variables and probability distributions, expected values, estimation, confidence intervals, and hypothesis testing. Participants will become familiar with the classical material as well as the advanced quantitative methods applied to managerial decision making problems such as regression, analysis of variance, and time series analysis.
International Negotiations Management
Module IV Marketing Management
This course provides an overview of all the fundamental marketing management concepts and provides participants with the opportunity to integrate them. Participants will learn how to scan the environment, perform market studies, evaluate buyer and consumer behavior, launch new products, and choose a coherent marketing mix strategy (product and branding, price, distribution, and communication strategies). They will also learn to analyze and formulate a marketing strategy, and select an implementation process by preparing and presenting a marketing plan for a product or service. Through this process participants will develop an understanding of the ways in which the customer is the focus of all marketing actions, and the role marketing plays within a company and in the general economy.
Customer Relationship Management
This course provides a global approach of Relational Management from the philosophy underpinning the concept of loyalty (Trust, Satisfaction and Commitment) to the perspective of the management tasks that must be performed in order to develop RM within an organization. This course approaches general theories developed by academics and researchers so as to explain the rationale for the subject and the key tenets. Students will work on illustrated cases so as to know in practice how the various elements of RM (databases, RM programs, loyalty cards, websites…) may be applied, identifying the key factors of success for their implementation. In particular, students will evaluate the opportunities brought by the Internet within a market depending on the nature of its products and services, and the buyer behavior of its target audience.
Module V Logistics, Operations, and Supply Chain Management
This course focuses on the enterprise-wide supply chain discipline including the fundamentals of the planning, sourcing, manufacturing, distribution and return processes. Through practical application, participants will see clear demonstration of the importance of Supply Chain as a crucial business discipline that involves a wide range of functions both inside the organization as well as across the enterprise through collaboration. Included are an exploration of the methodologies and tools used to drive operational excellence and create a true competitive differentiation. Participants will develop the skills and grasp the key concepts needed to ensure the ongoing contribution of the firms operations for enhancing both top-line revenue growth as well as cost containment and gain exposure to best-in-class processes adopted by the world’s leading companies in both products and services.
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Sales
This course is designed for the executives who have an interest in professional selling, sales management and the negotiation process, namely at the international level. Executives who have been practicing sales will be able to put their experience in perspective with theoretical concepts whereas the ones who have never or rarely been involved in the selling process will acquire the basics and put them in practice in role plays. The international aspect of selling and negotiating will be addressed stressing the cultural components of communication. One of the fundamental messages of this course is that professional selling can be a respectable as well as a rewarding career alternative leading to top management positions. It also stresses that negotiation skills are necessary for all business functions to effectively convey your ideas and win approval for them.
Module VI Entrepreneurship
This course examines the entrepreneurial process from conception to birth of the new venture. It delves into the practical areas that will be useful to participants both in entrepreneurship and intrapreneurship within traditional corporate environments. Participants will learn to identify the issues that managers face in turning opportunities into “going concerns” and ways to develop their own approaches, guidelines, and skills for being entrepreneurial managers.
Governance, Business Law, and Ethics
This course presents the principal legal mechanisms used in the world of international business, and explores the ethical and legal foundations of business activities in an international setting. Students will master the relevant legal topics of international transactions, and learn how to analyze the problems and methods of international business law and comparative law. The course will also focus on practical aspects of law for business professionals, with an emphasis is on (i) being a legally astute businessperson and working with lawyers, (ii) understanding the principals and terminology of the international business law, and (iii) reading and understanding business agreements and contracts. Specific topics include international business organizations, contract law, commercial dispute resolution, intellectual property law, employment law, and trade finance.
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Faculty
“ Teaching in the Executive MBA Program at IUM is a permanent intellectual challenge enriched by the diversity of its student body. �
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David ANSIAU
David is professor of Organizational Behavior and Management as well as the Director of Academic Research at IUM. He has also lectured at the University of Toulouse, where he studied for his PhD in Industrial Psychology. He holds a B.Sc. Psychology and Pedagogy from the University of Mons-Hainaut, Belgium; an MA in Industrial Psychology from the University of Mons-Hainaut, Belgium; and an MSc in Cognitive Psychology, Ecole Pratique des Hautes Etudes, Paris.
Ingo BÖBEL
Dr. Böbel’s specialty field is economics. He is a member of the “Microeconomics of Competitiveness” (MOC) network at the Institute for Strategy and Competitiveness at Harvard Business School (Professor Michael E. Porter) and a Visiting Professor of Economics at SCQM Jiao Tong University, Shanghai. His career has led Dr. Böbel to several countries where he has been involved in dozens of research activities. His academic work comprises six books and numerous refereed articles and is referred to in many renowned books and encyclopedic publications. Professor Böbel obtained his Dr.rer.pol. and Dr.rer.pol.habil. at the University of Erlangen-Nüremberg, Germany.
François CAZALAS
François is Chairman of the Board of Claranor the international leader of clean disinfection technologies. Claranor is a global operating and regularly awarded company, which has gathered the necessary skills to bring pulsed light technology to an industrial level: microbiology, optics, electronics, engineering. He worked with Arthur Andersen and then as General Director of a world renown company specializing in new companies seeding and development. The latest book he published focuses on how to develop an innovative company. François holds an MBA from Essec Business School.
Claude CHAILAN
Prior to joining the academic world, Dr. Chailan held high level positions in international management from 1985 to 1999, including senior positions at Dannon, Sara Lee and L’Oréal. He was actively involved in the development of international brands in France, Mexico and Venezuela. Dr. Chailan is currently Professor and Program Director at IUM, Monaco, and visiting professor at ITESM, Puebla campus, in Mexico. He is a guest lecturer in several foreign schools (ESAN in Lima, ESA in Beirut, CFVG in Hanoï, Segepec in Morocco) and several French universities (Celsa Paris-Sorbonne, Nice, Marseilles). He received his Master’s degree from ESSEC Business School in Paris and his diploma in Political Science from IEP Aix-en-Provence. He also holds a Doctorate in Management from the University of Nice Sophia-Antipolis.
Jérôme COUTURIER
Jerome is an associate professor at ESCP Europe, based in London. He teaches Business Strategy, International Management, and Negotiation in doctoral, EMBA, Masters and various executive programmes. Jerome worked with McKinsey and A.T. Kearney where he held senior positions. He is also co-founder and chairman of 3H Partners, an international management consultancy advising multinational companies in Europe and the US. Jerome holds a PhD from Ecole Normale Supérieure and an MBA from Insead.
Gregory GADZINSKY
Economics and Econometrics from the Faculty of Economics, Aix-Marseille; an MSc. in Financial Econometrics and a PhD in Econometrics, GREQAM, Université de la Méditerranée, France.
Francis ILLE
Francis Ille is an associate professor of international business at the International University of Monaco where he has been teaching for the last fifteen years. He has been a visiting professor at Ocean University of China in Qingdao, at IILM in Delhi and fifteen other international universities. In a career that spanned three decades, he was an executive for Procter & Gamble and IBM for which he held marketing and sales management assignments in Africa, Middle East, the Indian Ocean as well as the headquarters of IBM WTC in White Plains, New York. He also participated in several consulting missions as an expert for the TACIS programs of the European Commission in the fields of development of the private sector in the Commonwealth of Independent States and Africa.
Douglas KENT
Douglas is the Chairman of the European Supply Chain Council’s Leadership team where he is also one of a select few SCOR® qualified instructors. Douglas is an MBA graduate from Pepperdine University’s School of Management and studied at Harvard University during his post-graduate years. Douglas is also a frequent lecturer, conference lead and author of many Supply Chain articles. Douglas teaches as adjunct professor at the International University of Monaco (IUM).
Moïse LOUISY-LOUIS
Moïse is professor of Financial Accounting and Corporate Finance at IUM. He received his MBA from IUM and is currently studying for a PhD in Financial Accounting. He holds a B.S.B.A with a major in finance from Auburn University, USA. Before starting at IUM, he was an Equity Analyst at Knight Vinke Asset Management in Monaco.
Gregory MOSCATO
Gregory started his academic career with a B.A. with a major in violin from the Academy of Monaco. He obtained an MBA at IUM, before receiving his Ph.D. in Finance from the University of Paris-Est. He has worked as an account executive at The Golden Lender Financial group and after obtaining his US financial licenses he specialized in dealing with NYSE securities. He has also worked for Prime Charter Ltd. and Joseph Stevens & Co, and as a Foreign Exchange consultant for Consul International Partners. He became a Trader for the Whitsunday Holdings Ltd. and he went on to specialize in trading index futures contracts (S&P 500, FTSE 100, CAC40). He is currently the Director of the Master in Finance programs and professor of Finance at IUM.
Glenn WEISS
A lawyer for the bar of New York, Glenn get the authorization to act as a Monaco International Legal Expert in 1999. He specialized in negotiated agreements with third parties, including the United Nations, information technology suppliers, and banks. Glenn advises companies on corporate law and international business operations. Glenn holds a Juris Doctorate from Boston University School of Law, Boston, Massachusetts.
Gregory is professor of Finance and Economics at IUM, and was until recently a full-time researcher at the Hedge Fund Institute at the university. He was previously an Assistant Professor of Economics and the Chair for International Economics in Cologne, Germany. He holds a B.Sc. in Mathematical
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EMBA Participant profiles
EMBA participants should possess an undergraduate degree, have completed at least seven years of work experience, and hold – or demonstrate the potential to attain – executive positions in corporate companies, government bodies, non-profit organizations, family businesses or small and medium enterprises. The EMBA is aimed at professionals with extensive experience who wish to broaden their perspectives or change direction in their career. Students holding degrees in disciplines other than management or business are encouraged to apply.
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Caroline Pratte
Dennis Stimpson,
EMBA 2010 CEO, Group Pratte Vancouver, Canada
EMBA 2008 Director of Sales, Sun Microsystem Frisco, TX, USA
“Thanks to the cultural diversity and professional experience of its participants, the EMBA at IUM is a journey for an executive who wants an international overview of business administration.
“As an international manager in a global organization I wanted to expand my knowledge. I enrolled in the MBA program at IUM. IUM provided me with a learning environment consisting of advanced students and educators from various industries and countries.
I was part of the January 2008 cohort. My colleagues came from Croatia, Finland, Australia, Germany, Macedonia, France, Romania and the USA to name a few countries. We exchanged on our careers, our current business and future strategies, our respective political and cultural background, and received valuable insight on one another’s field of expertise. The richness of this EMBA comes from this cultural diversity.
Educators with real world high level experience in the subject matter they taught. All in a setting that was competitive, challenging, enjoyable and relaxing. The MBA degree is certainly valuable, but the experience of being an IUM student is one that will last a lifetime. I would heartily endorse the University to any student considering a global business education.”
An executive on the EMBA program has to be willing to dedicate a substantial amount of time to work autonomously as well as enjoying the crunch 54 hours on-site period in a group setting. Typically, each group is composed of a small number of participants, which is another very significant asset of this program.
EMBA Alumni by Nationality
The process is collegiate - like a round table - where each student collaborates under the direction and with the contribution of the highly qualified teaching staff. This EMBA program is comprehensive whatever your previous background. After completing the program, I have a better understanding of how diverse cultures affect the way business is conducted in various part of the world. The highlight of my experience will remain the wonderful people I was fortunate enough to meet.”
Anne-Karine Agius, EMBA 2007 Marketing Director, Goldmund France
EMBA Alumni by Company Profile
“My experience in the EMBA program at IUM was unique. I was the only French national in my group and the variety of my classmates’ professional and academic experiences was truly incredible. I cannot appreciate enough the quality of the teaching and of the environment. The small size of the groups allowed us to ask as many questions as we wanted to professors who were always available to answer and ready to create the dialogue within the class. Finally, I appreciated the practical approach of the course which allowed me to immediately apply my new knowledge to my current professional projects.”
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Application Process
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Entry requirements for admission:
Tuition
• A 3 or 4-year university degree • A minimum of 7 years of work experience
A complete graduate application file consists of: • A completed application form with your answers to the essay questions • Two letters of recommendation from professors and/or employers who have observed your performance in an academic and/or professional context (Letters of recommendation not in English must be officially translated into English) • University transcript(s) and diploma(s), with official translation when necessary • 2 passport-size and style photographs • Photocopy of your passport or national identity card • Proof of English proficiency (TOEFL, The Cambridge Proficiency Test, or the TOEIC test) • An updated Resume • Non-refundable 100 Euro application fee. Applicants may also be required to attend a personal interview. For international applicants, a telephone interview may be arranged.
Total tuition for the program is 24000€, payable as indicated below: • €4.000 for the first module taken is due on acceptance of the offer of admission. • Payments of €4.000 for each subsequent module are due 10 days before the start date of the relevant module.
Fees
Students also pay the following compulsory fees: • Non-Refundable Application Fee: €100 payable once only when the application is submitted. • Enrollment Fee: €1.900 payable once only at acceptance of the admission offer.
Other Expenses
IUM’s estimates of other expenses that may be incurred by students during each EMBA on-campus session are as follows: • Housing €650 • Food and local transportation €260 • Miscellaneous expenses €180 IUM helps EMBA students secure accommodation whilst their on-campus period. Every student also needs to have appropriate health insurance.
Selection criteria for admission:
• Academic ability and potential as shown by grades or equivalent tests and examinations • Evidence of relevant personal, professional, and educational experience • Motivation to study in the chosen field and clearly defined career objectives • Leadership potential and personal achievement and interests • Uniqueness and contribution to the University’s mission.
Further information and application procedure To apply for the EMBA program, complete and submit your application online at www.monaco.edu including all supporting materials. For more information, contact Ms. Leila Bello at lbello@monaco.edu or by phone at +377-97- 986-986.
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International University of Monaco 2, avenue Albert II MC 98000 Monte-Carlo Principality of Monaco
Tel: +377.97.986.986 www.monaco.edu
The International University of Monaco is a member of the INSEEC Group, one of the largest French educational institutions with campuses in Paris, Bordeaux, Lyon and London.