Stockholm School of Economics · Russia : Curriculum and Content

International Executive MBA — Oil & Gas Program

Module 1. Managing Organizations – an overview

This opening program module will serve as an introduction to the basics of how to manage organizations and practise good leadership as a base for the two years of study. You will be introduced to the way in which SSE Russia will present theories and practical applications during the Executive MBA program; also, you will get the first chance to work closely with your fellow program participants. With the help of a business simulation you will also be able to realize how group dynamics can have a direct impact on strategic decisions taken in a modern leadership context. This will be based on stateoftheart principles about human thinking and behavior determined in psychological research on individuals and groups.

Module 2. People in Organizations

This module takes as its starting point the premise that business results are delivered by people. A skillful approach to people in your organization is a tool to implement your business strategy and achieve a higher profit. We begin by introducing proven psychological principles of human behavior, including motivation and decision making. On the basis of this knowledge we then consider two critical leadership questions: how to make the most of the existing talent pool in the organization, and how to improve the talent pool? We answer the questions by utilizing fundamental human resource practices, like attracting potential employees, recruiting the right job candidates, retaining productive employees, and enabling employees to develop their competence and readiness for change.

Module 3. . The Essence of Marketing

The purpose of this module is to formulate a unified platform for the future by means of you digesting eternal challenging core components of a marketoriented business. For example, "how come so many companies err in realizing why customers buy an offer?" and "what are delicate ways of segmentation for success?" Assuming the market orientation perspective several essential marketing issues are addressed. In this quest several strategic and tactical marketing opportunities and dilemmas are worked out and put in appropriate contexts. The module involves a major group undertaking where you compete with others in a simulated market over several days until a winner is proclaimed. An example of a business executive issue to be shouldered: What aspects of my offer will cause customer satisfaction and loyalty?

Module 4. Accounting and Financial Analysis

The purpose with the accounting and financial analysis module is to provide you with the language of business. That is, to ascertain that you are able to understand and interpret companies' accounts, and annual reports, as well as to use them to benchmark companies against each other. By understanding the language of business you will also be able to find products' and services' costs and relate them to the pricing of those products and services. Altogether this should improve your skills in managing a successful company in a highly competitive environment. The module uses an interactive approach where you will analyze annual reports and do case studies in your learning process.

Module 5. Organizations

We spend a large part of our lives in complex organizations. Therefore, knowledge of how these organizations work and how they can be managed is important to a manager. The purpose of this module is to develop your theoretical knowledge as well as your skills in designing and managing complex organizations. In the course we address questions such as how you design an efficient organizational structure, how organizational culture can be used as a management tool, how to create a learning organization and deal with organizational change. The pedagogical idea behind the module is based on readings of management theory and skills development through extensive use of case workshops and discussions, where you and your classmates are given the opportunity to learn from your reallife experiences in organizations.

Module 6. Market systems

Globalization of markets needs that you better understand the market if you want to understand how to run your business. We will discuss various market`s function by looking into aspects of macro and microeconomics of particular relevance for business process development. In addition here to you will get a serious insight of business laws, especially in the antitrust field. An example of a business executive issue to be discussed.

Module 7. Strategy

In a constantly changing world it is crucial to have a clear concept of what strategy is, what strategic tools are available and how they can be used. This module provides an overview of the field of strategic management and its tools. A special focus will be placed on market analysis with large and dominant companies. An example of a business executive issue to be discussed: why is another firm in our industry more profitable than we are and what can be undertaken to improve our position?

Module 8. International Business

We will explore how to enter foreign markets; how to design joint ventures, alliances, and mergers and acquisitions; what strategies work best for international business; how to conduct international negotiations; and what leadership styles work best in different countries. We will also explore how cultural and institutional differences between countries influence strategies for international trade and what strategies can best help production industry to internationalize.

Module 9. Corporate Finance

Especially in organizations with heavy investments and risks is it important for all managers to understand the underlying forces in today's global financial world and have an ongoing dialogue in these areas. This module will enable you to plan and participate in creating investment policies. It will also provide you with tools for strategic evaluation of a company's available alternatives as well as give you an understanding of the pricing of companies.

Module 10. Business Excellence

In organizations, systematic improvements are always needed. In this module the fundamental concept of business excellence and its tools and techniques are presented. The module will also deal with the issue of how to manage organizations based on the principles of operational management such as process improvements and supply–chain and logistics management. Particular emphasis will be given to conditions of relevance for the processes characterizing production industries – for instance, what provides satisfaction for customers in these industries.

Module 11. Resource and Change Management

To change is one of the foremost challenges in organizations. To be able not only to shoulder, but to benefit from changes we have to grasp the difference between an incremental type of change and other more drastic types. This renders crucial understanding of innovation and decisionmaking processes in dynamic contexts. As a case in point, we will look into how projects are managed under different regimes of uncertainty.

Module 12. Business Valorization

The life of a company can be described as going "from an idea to becoming the market leader". During this process the company goes through many stages and transformations. In this module strategies for value creation will be studied as well as entrepreneurial organization, knowledge creation and intellectual capital. As a very much forwardlooking philosophy, we will scrutinize how corporate social responsibility (CSR) can assist in creating true longterm value.

Module 13. Leading People in Organizations

You are constantly facing the challenge of leading and influencing others. This module focuses on the art and science of leadership. You will be introduced to fundamental psychological principles that help you better understand and predict other people. We will also review effective models of leadership and discuss important leaders in various domains. Through practical exercises you will improve your decisionmaking capability and ability to negotiate. To sharpen your persuasive appeal, you are put in situations where you have the chance to develop your rhetorical skills. This final module in the human area is based largely on problembased and experiential learning. To help you grow and develop effective personal strategies, we will provide personal feedback on your performance throughout the module.

Module 14. Strategic Business Planning

The only sure thing we know about the future of business is that it is uncertain. Such uncertainty can be divided in two parts that constitute the main pillars of this module. First, we look into socalled "measurable uncertainty" with marketing strategy and tactical decisions including pricing and investment analysis as found in management accounting. Second, we go further since we believe that creative imagination of "nonmeasurable uncertainty" is even more conducive for our future business success. Issues covered, e.g., are: which tradeoffs do I have to make between shortterm and longterm considerations in my strategic business planning? This is also the module wherein you will be given the chance to work out and defend your own strategic business plan thus mirroring the particular strategic challenges that you are facing.

Module 15. The Experience of learning

The specific features of this last module are a function of the desires expressed during the twoyear learning process. But we will most likely spend some time summarizing the program insights by letting them come alive in an indepth scrutiny of a successful role model, whereby you will stand the challenge to analyze an outstanding company. Since this module is most likely to unfold abroad, the venue at hand will be decisive for the particular way in which it will be designed. An example of a business executive issue to be shouldered: Which are the key benchmark learning points to make from the role model company at hand – how could I use these insights in my own everyday reality?

Executive Master Thesis

The program also entails an Executive Master Thesis (EMT) which will present its author's deeper understanding of some aspects of management, his or her analytical skills as well as a critical way of thinking. The EMT builds on the knowledge gained in the course but "stretches" and "deepens" it through systematically collecting and analyzing data. Topics covered are, as a rule, highly relevant for the author's company, both academically and practically.

The EMT work will start in the first semester by choosing the topic. During the coming semester working papers will be handed in, and the final EMT will be presented at the end of the last semester. During the process the school will organize meetings with tutors as well as give special seminars covering different methodology aspects.

Examination and Graduation

The program will be examined step by step through assignments between/during modules and special exams at the end of each semester. The results of these exams results and from the EMT will jointly make up the final grades received on completing the program.

The program ends with a graduation ceremony when all who have successfully fulfilled the requirements will get a diploma from the Stockholm School of Economics as a confirmation of the Executive MBA exam.

Minor alterations of the programs are possible at the Dean`s discretion.