Corporate Masters of Business Administration. Aviation Management

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1 Corporate Masters of Business Administration Aviation Management

2 Introduction University of Limerick The University of Limerick offers programmes of education and research to doctorate level in its four constituent Faculties: Business; Education & Health Sciences; Arts, Humanities & Social Sciences and Science & Engineering. Since its foundation in 1972 the University has pioneered many effective educational practices, including a modular system which facilitates continuous assessment and a semesterised calendar. Innovations such as the Cooperative Education Programme have enabled the University to build strong linkages with employer organisations. The extensive modern campus of the University is located on the banks of the river Shannon at the heart of the 640 acre National Technological Park, approximately 3 miles from the centre of Limerick city. The University has excellent educational and cultural facilities and accommodates approximately 12,000 students. Recent developments include a state of the art Library and Information Services Building, residential villages, a sports arena and 50-metre swimming pool. Kemmy Business School The Kemmy Business School is organised in four Departments: Accounting and Finance, Economics, Management and Marketing, and Personnel and Employment Relations. Centres for research and postgraduate study are integral to the work of the Business School which is a major force for business and management education in Ireland. MBA PROGRAMMES MBA programmes have been provided by the Kemmy Business School since 1984: The principal programme at Limerick is the Corporate MBA, which is organised on a blockrelease basis and to which there is an annual enrolment. The MBA (Aviation Management) progamme is suitable for those who have significant responsibility at management or supervisory level in the aviation or related sectors. For further information visit our website at: 1

3 Corporate MBA Programme (Aviation Management) General Information Introduction This programme has been designed to educate students from diverse disciplines within the airline, aviation and related asset leasing & financing sectors. The Corporate MBA (Aviation Management) aims to combine the traditional benefits of an MBA education with a particular focus on the aviation sector resulting in maximum value for participants and for employers within the aviation sector. This innovative, unique and flexible block release programme was worked out jointly with a group of aviation industry experts and UL faculty. The inclusion of core MBA modules makes this an attractive offering for middle managers who wish to combine the broad understanding of business organisations and their strategic focus with specialist modules dedicated to the aviation sector. With an attendance requirement on campus averaging three days per month, scheduled well in advance, participation from any part of Ireland, or indeed overseas, is facilitated. We welcome opportunities to discuss with employers the suitability of nominated candidates and the participation of groups of employees in the programme. This engagement with businesses in the aviation sector is continued throughout the programme. Assignment and project work is focused on real and current issues, problems and opportunities, for which valuable solutions and insights are generated. Features of the Programme Block Release Structure: the major focus for learning lies in the three day intensive blocks delivered on-campus or at residential locations. There are four on-campus teaching blocks per semester. Between blocks, individual study is supported by the formation of learning sets averaging four students. Dissertation: a significant project is begun in the summer period between Years 1 and 2, developed during the second year and completed for submission in the autumn following conclusion of the taught element of the programme. Foundation Workshop: participants first come together and enrol at this four-day workshop, which enables students to adjust to the demands and opportunities of post-experience study. The learning process, including the formation of small groups, is also established on a firm footing. Content includes an introduction to first semester subjects and sessions on library facilities, communications and team building. Two Residential Summer Schools: A four day Aircraft Leasing module in Year 1 and an elective stream of modules in Year 2. International Workshop: A one-week residential programme which is designed to develop international perspectives of aviation management is an integral component of the overall development experience. 2

4 Entrance Requirements Entrance Requirements Admission to the MBA (Aviation Management) programme will involve a rigorous process of selection to ensure that only qualified participants are given access to the programme. Normally, the following criteria are applied: An honours primary degree or an equivalent professional qualification. At least 4 years experience at management or supervisory level in the aviation or related sectors. An acceptable score in the Graduate Management Admission Test (GMAT). A satisfactory interview is part of the application process. Learning Principles The programme balances the requirement for a core of generalist business subjects coupled with aviation specialist modules.the programme will incorporate modules which are on offer on the current Corporate MBA programme. Aims and Objectives The fundamental objectives for the Corporate MBA (Aviation Management) programme are as follows: To develop an advanced understanding of the main concepts and disciplines which are important for the managerial role within the world of business and a particular focus on the aviation industry. To equip students with a broad range of decision-making skills and an enhanced ability to respond to changes emanating from the international business environment, and resultant changes in the aviation sector. To enable participants to think and act strategically, develop their creativity and assume leadership responsibilities within the aviation sector. To develop the research skills necessary to formulate, conduct and report an independent piece of research. To prepare the MBA graduate for senior positions in the aviation sector. 3

5 Programme Outline The Corporate MBA Programme focuses on five learning themes - Internationalisation, Managerial Vision and Competencies, Entrepreneurship and Innovation, Strategic Thinking and Leadership in addition to the specialist aviation focus. Programme Outline Year 1 Semester 1 Semester 2 Summer Air Transport Characteristics (6)* International Management (6) Summer School: Aircraft Leasing (3) Financial Reporting (6) Corporate/Airline Finance (6) Thesis 1 (6) International Political Economy (6) Airline Economics (6) International Workshop (Aviation) (3) Data Analysis for Business Fleet Planning (6) Decisions (6) Year 2 Semester 3 Semester 4 Summer Corporate Strategy Analysis (6) Implementing Strategy (6) Summer School Elective (3) Airline and Ground Operations (3) Airline Marketing (6) Thesis 2 (9) Airport Business (3) Creativity, Innovation and Entrepreneurship (6) Relationship Marketing (6) Managing Projects and operations (6) Strategic Human Resource Management (6) *figures in brackets are the ECTS credits for each module Academic Calendar The University operates on a semester basis: Autumn Semester - September to December Spring Semester - January to May 4

6 Application Procedure MBA Application to the University Please complete Postgraduate Studies Application Form. Additional Information from Applicants to MBA Programmes Form. Please apply online at Further information is available from Academic queries should be directed to: Dr. Siobhan Tiernan Programme Director MBA (Aviation Management) GMAT Application Ensure that you have a copy of the latest edition of the GMAT Information Bulletin, which describes in detail the procedures to be followed in registering for the new, computer-adaptive format. Residents of Ireland will normally enrol through and will be able to attend a test centre in Ireland. Please note that L3N-P4-75, University of Limerick - MBA Program is the code for transmitting your GMAT score to the University of Limerick. You should apply to take the GMAT in sufficient time for the results to be considered alongside your MBA application. For the latest information on GMAT, visit the website at: mba.com. 5

7 Course Descriptions Air Transport Characteristics This module gives a detailed descriptive and analytical overview of the airline industry in its entirety. Students will be able to assess and interpret the key characteristics that underpin how airlines function in a commercial world. Different airline business models are strategically analysed while at the same time an insight is given of how deregulating markets are shaping change within this ever evolving industry. The module concludes by addressing some of the new challenges facing the industry such as the EU ETS. Corporate/Airline Finance The financial system, legal form and business taxation; the role of the firm and agency theory; project appraisal; capital budgeting; sources of finance, cost of capital and capital structure; dividend policy; market efficiency, shares and financial markets; share valuation; mergers, failure and growth in international air transport; commodity and currency risk and derivatives; and corporate social responsibility in the context of the firm as defined by activities above. International Political Economy Introduction, theory of economic determination, basic model, fiscal policy, money and banking, the quantity theory of money and interest rate determination, the balance of payments and exchange rate theory, purchasing power parity, covered and uncovered interest rate parity theory and Fisher equation, open economy monetary model, the economic performance of the Irish economy in the long-run, the Celtic Tiger, EMU and globalisation. Data Analysis for Business Decisions Data and statistics, graphical presentation of data, measures of location and spread, introduction to probability, sampling and sampling distributions, point and interval estimation, hypothesis testing, analysis of qualitative data, correlation and linear regression, analysis of variance, multiple regression, application of statistics, non-parametric statistics. International Management The domain of international management concepts of industry, location and firm specific advantage, application of planning, organising, leading and control in international contexts, models of cross-border business, managing multinationals, mergers and acquisitions and strategic alliances, international business networks, co-ordinating international value chains, extended supply chain management, technology diffusion, knowledge transfer, subsidiary initiatives, political and cross-cultural issues, managing in developing countries, competing with integrity. Financial Reporting A contextual approach to accounting; the information content of accounting statements; preparation of Books of Prime Entry and Financial Statements; approaches to financial information: fundamental and technical analysis; liquidity, profitability,management efficiency, financing and investment ratios; elements of advanced accounting: financial markets and analysts approaches to financial information; alternative approaches: Balanced Scorecard an Economic Value Analysis; international accounting issues. Airline Economics Airline Costs, Direct and Indirect Operating costs and recent trends; Methods of reducing airline Total Operating Costs; Measuring airline performance, airline benchmarking; Elasticity of Air Travel demand; pricing and revenue management in the industry; the significance of passenger load factors and break even load factors; The economics of full service, low cost, regional, charter airline operations and air cargo; the role and impact of regulation and competition rules on the sector. Fleet Planning The following topics will be addressed: Key decision criteria for fleet planning; Technical description of the jet aeroplane, including cockpit, cabin systems, cargo holds, engines, airframe structure, weight and balance, flight controls and other systems; Aeroplane manufacturers and their products; Airworthiness and operational regulations; Aircraft documentation; Key performance parameters, including payload-range envelope, takeoff and landing distances and en-route performance; International Standard Atmosphere; Fuel planning policies and associated operational regulations, including ETOPS; Aircraft valuation and depreciation. Corporate Strategic Analysis Strategy as a multi-performance perspective discipline. The schools of strategy. The value of strategy. Dimensions of strategic thinking. Measuring strategy. Strategy and environments external and internal. Positivist and interpretist/cognitive views. Theories of and practice explored in competitive advantage. Strategy under uncertainty. Expectations, purposes and values in organisations. Shareholder analysis and management. Strategic option evaluation and management. Airline & Ground Operations Route planning and evaluation, aircraft selection, timetable development, hub and spoke scheduling, determinants of service frequency, aircraft maintenance procedures, aircraft maintenance planning, flight crew regulations, flight crew scheduling, dispatching, managing irregular operations, schedule recovery, seasonality, coordinated activities for aircraft turnaround, aircraft refuelling, air cargo operations, the airway bill, carriage of dangerous and live cargo, winter operations. 6 Airport Business The General Trend and Characteristics of Airports, Catchment Area, Economic Impact of Airports, Airline Airport Relationship, Landing Charges, Passenger Charges, Duty Free, Car Parking, Concessionary Revenues, Airport Privatisation, Airport Security, Safety Management Systems, Secondary Airports, Low Cost Terminals, Airport Runways and Taxiways, Terminal Buildings, Airside and Landside Operations, Environmental issues, Grandfather Rights and Airport Slots. Relationship Marketing Relationship Marketing and Customer Relationship Management (CRM). Interaction and Relationships in Service, Intra-organisational and mass marketing contexts. Relationship life-cycles. Relationship success variables. Collaborative and competitive networks. Strategic Human Resource Management Business Strategy and HRM including strategic fit versus best practice approaches; the context of human resource management; linking HRM and business performance; impact of HRM on company performance; high performance work systems; workforce planning; recruitment, competencies, selection interviewing and testing; goal setting and performance management, strategic pay and rewards; managing change in unionised and non unionised environments; downsizing and the psychological contract, HRM in the global economy and the development of international managers; workplace of the future. Implementing Strategy Implementation of corporate strategy. Issues of control, resource allocation, innovation and structure. Rational and non-rational perspectives or realised strategy. Strategic control. Strategic and innovation. Strategic alliances, mergers and acquisitions. Corporate social responsibility. Airline Marketing This module provides an in depth overview of the core competencies that apply to airline marketing. This module assesses how yield management principles directly influence the optimisation of revenues at an airline. Furthermore, the application of passenger segmentation theory shows that there is a large and diversified portfolio of customers with a widely different mix of product requirements. The module concludes by describing how strategic marketing initiatives such as airline alliances can impact the competitive positioning of a carrier. Creativity, Innovation and Entrepreneurship The entrepreneur and entrepreneurship defined, the nature of entrepreneurship, intrapreneurship, schools of thought on entrepreneurship, the entrepreneurship model, the business environment, characteristics of entrepreneurs, economic impact of entrepreneurship, the entrepreneurial process, recognising opportunities and generating ideas, market research, feasibility analysis, industry and competitor analysis, developing an effective business model, preparing ethical and legal foundation, writing a business plan, sources of finance, venture capital, state support mechanisms, unique market issues, importance of intellectual property, criteria for success, business failure, franchising, strategies for emerging ventures. Managing Projects and Operations Current perspectives on project v operations, failure and success issues. Project management bodies of knowledge, methodologies & best practice skills sets. Delivering strategic objectives through projects and operations, business benefits analysis and realisation. Governance of projects and operations. Scheduling and time management, budgeting costing and enterprise resource planning, risk management. Leadership and communications, change management and change control. Contemporary issues in project and operations management. International Workshop (Aviation) During the International Workshop, students spend time interacting with professionals in various aviation related businesses and within a university environment. Students will be exposed to the complex manufacturing processes, operational, support and regulatory aspects of the aviation industry. Students are required to complete some advance preparation and a post-travel assignment for successful completion of the course. The post-travel assignment includes the completion of a reflective learning journal which facilitates their introspection (thought and feelings) and to enrich their learning. Aircraft Leasing This unique module is the world s only academic course on aircraft leasing. It gives a detailed descriptive and analytical overview of the aircraft and engine leasing market. Aircraft such as the A380 are valued at around $300 million and the module describes the different mechanisms that are in place to finance such aircraft. Students will develop a level of expertise in assessing and interpreting the various leasing contracts that airlines currently use. Aircraft valuations change throughout its economic life and the module educates the student in calculating its present value. Other areas that are covered include: legal issues; deposits; maintenance reserves; conditions return of the aircraft to lessor; and aircraft repossession as a result of a default on payments.

8 design: Corporate Masters of Business Administration Aviation Management Kemmy Business School University of Limerick Limerick Tel:+353 (0) Fax:+353 (0)