Kellogg WHU Module Descriptions 2012-2014 01

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Module Descriptions2012 2014www.kgg.wh.

A global program for

distinctive leaders

Distinguishyourself!


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First Year

Module 1 Vallendar Fall 2012

Operating Strategies for the

General Manager

Leadership and Organizations

Module 2 Vallendar Fall 2012

International Financial Reporting and Analysis

Decision-Making under Uncertainty

Managerial Economics

Module 3 Vallendar Winter 2013

Marketing Management

Managerial Finance

Managing People for Competitive Advantage

Module 4 Vallendar srin 2013

Innovation Management

Strategic Marketing

Managerial Statistics


Corporate Finance

Operations Management

seond Year

Module 6 iao suMMer 2013

Negotiation Strategies

Strategic Crisis Management

Economics of Competition

Strategic Marketing Decisions

WeModule 7 Vallendar Fall 2013

Sales Management

Entrepreneurial Finance

Intellectual Capital Management

Module 8 Vallendar Winter 2014

Ethics and Leadership

Strategy Implementation in Times of

Organizational Change

Managerial Accounting


Competitive and Corporate Strategy Tools

Module 10 lobal eletiVes

Winter/srin 2014

Module 10 toronto

Enterprise IT Strategy and Governance

International Strategy

Module 10 on Kon

Building a Powerful Brand in China

Understanding Consumers

Business Strategies in Asia Pacific

Module 10 tel aViV

Behavioral Finance and Security Analysis:

Psychological and Organizational Influences

on Financial Decisions

Module 10 MiaMi

Management of Organizational Change

International Finance

Managing Price and Value Perceptions

Entrepreneurial Finance

Family Enterprises: Success and Continuity

Mergers and Acquisitions

Module 11 euroean eletiVe Vallendar

srin 2014

The Business Environment in Europe

Subject to change.

opg nw z gm o


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Kello lobal eletiVes

Global electives are a unique feature of the Kellogg experi-

ence, offering students the opportunity to complete an

elective course at one of the partner schools in the Kellogg

network, getting exposure to the regions business culture,

and developing local contacts. Students may choose more

than one global elective.

liVe-in WeeKs at WuThree live-in weeks are held at WHU campus in Vallendar,

Germany. The final live-in week at the end of the program

includes students from all global Kellogg partner schools.

WeeKend ourses First and seond Year

Twelve class weekends, running from Thursday to Sunday,

are another integral part of the program structure six

weekends per academic year. Weekend classes are held

at WHU in Vallendar, Germany.

international liVe-inWeeKs at Kello

Two compulsory international live-in weeks are scheduled at

Kellogg School of Management in Chicago at the beginning

of the second academic year. EMBA students from all global

Kellogg partner schools are invited to the James L. Allen

Center in Chicago to share classes and group work with

fellow students from around the world.

M

leadersi and ersonaldeVeloMent

Jrgen Weigand, Academic Director MBA Programs, WHU; John Kerrick,

Senior Partner in Hollander & Kerrick Associates, Inc.; Stephan Kretschmer,

Brigadier General retired and Head of Leadership Development Center,

German Military Services; additional experienced executive coaches and

prominent guest speakers

In the present dynamic and competitive business environ-

ment, managers are expected to provide direction and

inspiration within their companies. Todays managers must

play a number of roles in which they are highly visible

to their co-workers and to the public at large. This module

accompanies students throughout the duration of the

Program and enhances soft skills by providing techniques

and know-how to understand and manage verbal and non-

verbal communication patterns. Additionally, through the

use of psychosomatic tools, feedback sessions and indi-

vidual- and team-coaching, students formulate their own

leadership credo that impacts their management capacity.


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Module 3 business Funtions i

MarKetin ManaeMentLakshman Krishnamurthi,

A. Montgomery Ward Professor of Marketing, Kellogg

Marketing Management addresses the importance of com-

panies being market-driven and customer-focused and

presents current theories and practices of marketing man-

agement.

Manaerial Finane Olivier Tabatoni, Professor and Researcher

in Finance at the IAE Aix, University of Aix-Marseille, France

This course introduces participants to the concepts and

techniques of corporate financial decision-making, invest-

ments, and financing decisions. Strong emphasis is placed

on how to implement the firms ultimate objective: maximiz-

ing shareholder value.

Manain eole For oMetitiVe adVantae

Martin Hgl, Professor of Leadership and Human Resource

Management, WHU

People are an organizations most critical resource. This

course focuses on the people side of business from a general

management perspective, integrating concepts from orga-

nizational behavior, human resource management, strategy,

and organizational design.

Module 4 business Funtions ii

innoVation ManaeMentHolger Ernst, Professor of Technology

and Innovation Management, WHU

This course is designed to give an overview about fundamen-

tal aspects of innovation management. It covers strategic,

organizational and procedural aspects of managing product,

process and business model innovation in different industrial

and competitive environments. In addition, this course

always addresses new and emerging themes in innovation

management.

stratei MarKetin Timothy Calkins, Clinical Professor of

Marketing, Kellogg

This course introduces an integrative, dynamic view of

competitive marketing strategy, looking at segmentation,

targeting, and positioning, branding, creating product

differences, and establishing unique brand associations.

Manaerial statistis Karl Schmedders, Visiting Associate

Professor of Managerial Economics and Decision Sciences, Kellogg

Managerial Statistics introduces the basic statistical con-

cepts necessary for understanding and conducting empirical

analyses and enables the participants to use such analyses

for managerial decision-making.

Module 1 te role oFte eneral Manaer

oeratin strateies For te eneral Manaer

Albert Isenman, Clinical Professor of Management and Strategy, Director

of Custom Programs, Executive Education, Kellogg

This course explores economic principles of business strategy

and develops an analytic framework for identifying and

evaluating alternative strategies.

leadersi and oraniations Keith Murnighan, Harold

H. Hines Jr. Distinguished Professor of Risk Management, Professor of

Management and Organizations, Kellogg

This course focuses on the skills and ideas behind effective

leadership: working well with teams, utilizing your personal

and organizational resources, making difficult but critical

decisions, and negotiating well, all with a broad, multifaceted

outlook.

Module 2 FundaMental toolsFor business analYsis

international Finanial reortin and analYsis

Thorsten Sellhorn, Professor of Accounting and Academic Director

General Studies, WHU

Financial reporting is the language of business. Firms use

it to communicate their financial situation to diverse stake-

holders. This course introduces financial reporting and the

economic incentives and consequences it creates. Students

learn to analyze and interpret balance sheets, income

statements and cash flow statements, with an emphasis on

International Financial Reporting Standards (IFRS). Financial

reports will further be used as a basis for forecasting and

equity valuation.

deision-MaKin under unertaintYKarl Schmedders,

Visiting Associate Professor of Managerial Economics and Decision

Sciences, Kellogg

This course introduces the basic concepts and tools of

probability theory, covering elements such as sample spaces,

elementary probability laws, distributions, and the founda-

tion for statistics. The course also introduces the notion of

sampling distributions.

Manaerial eonoMis Jrgen Weigand, Professor of

Economics & Director of the Institute for Industrial Organization, WHU

This course provides the participants with the economic

foundations relevant for business management. It intro-

duces students to the function of markets and firms pricing

decisions, including a discussion of the fundamentals of

macroeconomic interdependencies.

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Module 5 business Funtions iii

ororate Finane B. Burcin Yurtoglu, Professor of Corporate

Finance, WHU

This course develops basic principles of corporate finance

and provides practical tools for financial decision-making

and valuation. Starting with a broad overview which also

takes institutional differences across major governance

and financing regimes into account, the course focuses on

applied issues in corporate financial policy. The following

topics are analyzed using both a theoretical perspective and

several case studies: raising capital, the cost of capital,

debt-equity choice, dividends & share buy-backs, M&As,

executive compensation, and corporate governance.

oerations ManaeMentJan Van Mieghem, Harold L. Stuart

Professor of Managerial Economics and Professor of Operations

Management, Kellogg

This course examines the basic principles of managing the

production and distribution of goods and services. The

course positions operations as a managerial integration

function and provides frameworks and tools to target, value,

and implement improvements in business processes.

Module 6 oMulsorY lobal Module

neotiation strateies Jeanne M. Brett, DeWitt W. Buchanan,

Jr., Professor of Dispute Resolution and Organizations; Director of

Dispute Resolution Research Center, Kellogg; Leigh Thompson, J. Jay

Gerber Professor of Dispute Resolution & Organizations, Director of

Kellogg Teams and Group Center, Professor of Psychology, Kellogg;

Victoria Medvec, Adeline Barry Davee Professor of Management &

Organizations, Executive Director of the Center for Executive Women,

Kellogg

Negotiation is the art and science of securing agreements

between two or more parties who are interdependent and

who are seeking to maximize their outcomes. Negotiating

with people from different cultures adds significant chal-

lenges to the process of negotiation. This course provides

participants with the opportunity to develop their negotiation

skills in a series of simulations and debriefings that address

multicultural and multiparty issues, in the contexts of deal-

making and dispute resolution. Each simulation has been

chosen to highlight the central concepts that underlie nego-

tiation strategy. These concepts are the fundamental build-

ing blocks for planning negotiation strategy, managing the

negotiation process, and evaluating the quality of negotiation

outcomes.

stratei risis ManaeMentDaniel Diermeier, IBM

Professor of Regulation and Competitive Practice and Director of the

Ford Motor Company Center for Global Citizenship, Kellogg; David

Austen-Smith, Peter G. Peterson Professor of Corporate Ethics and

Professor of Political Science and Economics, Kellogg; Timothy

Feddersen, Wendell Hobbs Professor of Managerial Economics &

Decision Sciences, Director of Social Enterprise at Kellogg Program,

Kellogg

This course provides conceptual tools for managers in high-

pressure, complex crisis situations. Topics include manage-

ment and media, dealing with activists and interest groups,

and surviving legal, legislative, and regulatory challenges.

eonoMis oF oMetition Sandeep Baliga, Associate

Professor of Managerial Economics & Decision Sciences, Kellogg;

Peter Klibanoff, Associate Professor of Managerial Economics & Decision

Sciences, Kellogg

Economics of Competition prepares students to diagnose

the determinants of an industrys structure and formulate

rational, competitive strategies for coping with that structure.

stratei MarKetin deisions Timothy Calkins, Clinical

Professor of Marketing, Kellogg; Julie Hennessy, Clinical Professor of

Marketing, Kellogg

In this course a computer simulation is used to give the expe-

rience of running a business, making marketing decisions, and

gaining support for making recommendations. The study team

will be given a business to run; the challenge is to apply mar-

keting concepts to deliver strong financial results and create a

solid, ongoing business over the course of the simulation.

Module 7 Wu eletiVe i

sales ManaeMentOve Jensen, Professor of Marketing, Chair of

Sales Management and Business-to-Business Marketing, WHU

The course examines the capabilities of effective sales

organizations and the multiple roles of the chief sales exec-

utive. It provides concepts and tools for challenges such as

go-to-market strategy, sales force productivity, key account

management, price implementation, and personal leader-

ship of sales people.

entrereneurial Finane Steven Rogers, Gordon and Llura

Gund Family Clinical Professor of Marketing and Finance, Kellogg

This course teaches prospective entrepreneurs the funda-

mentals of entrepreneurship with a focus on finance. Topics

include pro-forma development and review, business valua-

tion models, cash flow analysis and raising capital.

Live-InWeeks

inVallendar

WeekendCourses

inVallendar

International

Live-InWeeks

ElectiveInternational

Live-InModules


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The course provides theory and practice of contemporary,highly impactful competitive and corporate strategy tools.

The learned tools are directly put into practice via a com-

puter-based business simulation. Participants act as execu-

tives of their companies, make strategic decisions as well

as decisions in various functional areas such as marketing,

procurement, production, distribution, and finance over

several periods. The course is a lively illustration of the role

of strategy in a complex business world packed with uncer-

tainty and surprises.

Module 10 eletiVe lobal Modulestoronto

enterrise it strateY and oVernane

Michael Wade, Associate Professor of Operations Management and

Information Systems, Schulich School of Business

This course deals with the effective management of capabili-

ties generated from IT, focusing on IT strategy models and IT

governance. It helps to understand how enterprises manage

the flow of information to balance security, accessibility, and

strategic value.

international strateYEleanor Westney, Professor of

Organizational Behavior/Industrial Relations, Scotiabank Professorship

in International Business, Schulich School of Business

This course delves into the frameworks, explores the tools,

and identifies the methods and skills that managers need

to deploy in order to help their firms develop effective inter-

national strategies for competitive advantage in the global

marketplace.

on Kon(oie oF tWo Full ourses)

buildin a oWerFul brand in inaRon McEachern,

Adjunct Professor of MBA and Executive MBA Programs at HKUST,

Founder and CEO of Strategic Solutions Group Asia, Hong Kong

The main objective of the program is to better equip leaders

and managers to lead across diversities. To achieve that

objective, participants will discuss the constructive ways of

thinking about differences, learn about different cultural

dimensions and their influences on organizational behaviors,

the importance of a healthy corporate culture, how to

establish and maintain a healthy corporate culture, how

to manage cross-culture conflicts, and the critical success

factors in leading across diversities.

understandin onsuMers Jaideep Sengupta, Professor,

Department of Marketing, HKUST

This course focuses on the customer as an individual, with

an emphasis on how consumers react to marketing informa-

tion provided about a product. The topics discussed com-

intelletual aital ManaeMentJames Gerard Conley,Clinical Professor of Technology, Kellogg

This course covers the specific agenda of using intellectual

capital and/or properties for building and sustaining com-

petitive advantage. Intellectual assets like know-how, inven-

tions, patents, explicit content, brands, trademarks (forms

of intellectual property), contractual agreements etc. are

often the largest proportion of a firms total wealth. In this

course, we adopt a lifecycle approach to the management

of an intellectual asset. Both mature markets and entrepre-

neurship contexts are reviewed.

Module 8 Wu eletiVe ii

etis and leadersi Adam Galinsky, Morris and Alice Kaplan

Professor of Ethics and Decision in Management, Kellogg

This course examines the role of the CEO and other top

leaders in modern organizations, highlighting their ethical

challenges and exploring the implications of a variety of

ethical frameworks to facilitate more effective complex

organizational decision-making in a rapidly changing busi-

ness environment.

strateY iMleMentation in tiMes oF

oraniational ane Lutz Kaufmann, Professor of

International Business & Supply Management, Academic Director

Executive Education, WHU

The ability to accelerate the execution of strategies and

projects is essential for managers across functions and hier-

achy levels. This course provides comprehensive insights

into how to effectively implement strategies. The course

will focus on the role of the individual, with class members

applying specific strategy execution instruments and tech-

niques directly to their own implementation challenges.

Manaerial aountin Thorsten Truijens, Senior Lecturer,

University of St. Gallen

Accounting only serves as a basis to provide the figures

we need to prepare and support decisions. Rather than

obtaining mathematically correct solutions, the course

outlines the advantages and disadvantages of different

tools, focusing on the behavioral issues of management

accounting.

Module 9 oMulsorY Wubusiness siMulation

oMetitiVe and ororate strateY tools

Thomas Hutzschenreuter, Professor of Corporate Strategy and

Governance, Chair of Corporate Strategy and Governance, WHU;

Jrgen Weigand, Professor of Economics & Director of the Institute

for Industrial Organization, WHU


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Manain rie and Value eretionsEric T. Anderson, Hartmarx Professor of Marketing, Director of the

Center for Global Marketing Practices, Kellogg

This course provides an integrated framework for studying

pricing and customer value from both a theoretical and

empirical perspective. The course provides students with a

set of tools that can be immediately applied to practical

pricing problems. Course concepts are illustrated through

case analyses and exercises.

entrereneurial Finane Steven Rogers, Gordon and Llura

Gund Family Clinical Professor of Marketing and Finance, Kellogg

This course teaches prospective entrepreneurs the funda-

mentals of entrepreneurship with a focus on finance. Topics

include pro-forma development and review, business valua-

tion models, cash flow analysis and raising capital.

FaMilY enterrises: suess and ontinuitY

John Ward, Clinical Professor of Family Enterprise, Kellogg;

Ivan Lansberg, Lecturer and Academic Director of Family Enterprise

Executive Program

This course is intended for those from business-owning

families, whether they work in the family business or not.

Topics range from succession and family dynamics to

continuity planning and strategic performance. The course

is also appropriate for those who have family foundations,

family investment companies and/or family office.

Merers and aquisitions Thomas Lys, Eric L. Kohler Chair

in Accounting, Professor of Accounting Information & Management,

Kellogg

This course will provide technical knowledge and familiarize

students with the different paradigms and perspectives of

mergers and acquisitions. The course integrates the account-

ing, economic, financial, and legal aspects of mergers and

acquisitions.

Module 11 oMulsorYeuroean eletiVe

te business enVironMent in euroe Jrgen Weigand,

Professor of Economics and Director of the Institute for Industrial

Organization, WHU; Michael Frenkel, Professor of Economics and Dean

of WHU

Globalization, EU market integration and the deregulation of

key industries have fundamentally changed the challenges

and opportunities faced by firms in European markets. The

objective of this course is to identify and understand the

forces and trends at macro- and micro-levels that affect the

strategic management of firms in European markets.

prise of examination of basic psychological processes in alogical sequence. In addition, the nature and importance of

cultural differences in consumer behavior around the world

is a pervasive theme throughout.

business strateies in asia aiFi Larry Franklin,

Adjunct Professor of Finance at HKUST, former General Manager and

Head Legal Counsel for Hutchison Whampoa Ltd.

This course offers the opportunity to strategize and be the

decision maker in practical, real-world business situations

throughout the Asia Pacific region, including China and

India, illustrating successful and unsuccessful deal-making

strategies in Asia.

tel aViV

beaVioral Finane and seuritY analYsis:

sYoloial and oraniational inFluenes

on Finanial deisions Thomas Lys, Eric L. Kohler Chair

in Accounting, Professor of Accounting Information & Management,

Kellogg; Margaret A. Neale, John G. McCoy-Banc One Corporation

Professor of Organizations and Dispute Resolution at Stanford

University

This unique joining of two individual courses, taught jointly

by two instructors, combines an exploration of the econom-

ic and psychological influences on financial decision-mak-

ing. The ability of managers to integrate both the economic

and psychological perspectives in financial decision-making

is critical, as an emphasis on only one perspective illumi-

nates only part of the necessary skills for decision choice

and implementation. (Please note: This elective qualifies as

two courses.)

MiaMi(oie oF tWo Full ourses)

ManaeMent oF oraniational ane

Robert Duncan, Visiting Professor of Executive MBA, Kellogg; Paul Hirsch,

James L. Allen Professor of Strategy & Organizations, Kellogg

A major challenge for leaders at all levels in organizations is

facilitating change. This course will focus on the key tasks

of leading the strategic change process in organizations.

international Finane Sergio Rebelo, Tokai Bank

Professor of Finance, Kellogg

This course studies international financial instruments,

markets, and institutions. Topics include the nature of for-

eign exchange risk, the determination of exchange rates

and interest rates, the management of foreign exchange

risk with forwards and options, exchange rate forecasting,

evaluation of international investments, currency specula-

tion, the impact of monetary policy on exchange rates, and

current developments in the international financial system.


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WHU Otto Beisheim School of Management

Kellogg-WHU Executive MBA Program

Burgplatz 2

56179 Vallendar

Germany

Phone: +49 261 6509-186

Fax: +49 261 6509-189

www.kellogg.whu.edu

[email protected]

Kellogg WHU Module Descriptions 2012-2014 01

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