Kazakhstan Institute of Management, Economics and Strategic Research 2011 2012 Executive MBA Program Overview Executive Education from KIMEP Developing a New Generation of Leaders!
Statement of Purpose The purpose of the Executive MBA program (ExMBA) is to provide business enterprises and government agencies with strategic competitive advantages by building on the existing capacities of the next generation of senior managers and executives to allow them to become effective leaders. The program will also enable working professionals to gain a comprehensive understanding of business and earn a Master of Business Administration degree without interrupting their career. Background The program is targeted towards high-potential, middle and senior managers. The program, based on the North American model, is designed to equip participants with the skill-sets to broaden their strategic and global perspectives of business, and to develop a wider range of leadership and management skills. Participants will develop the strategic thinking necessary in today s new world of business to gain increased understanding of the total organization and achieve and maintain a competitive advantage. The program offers a flexible learning model that allows for active continuous full-time employment while simultaneously achieving the Executive MBA. Meetings are generally held Friday afternoons and Saturdays with the degree requirements being completed in approximately 21 months. The program emphasizes a balanced relationship between theory and practical applications and focuses on today's key issues such as vision, leadership, entrepreneurship, strategic decision-making, global perspective and organizational efficiency from both a local and global perspective. The fixed 45-credit curriculum will incorporate lectures, group discussions, case studies and work-related projects. The directed individual study allows candidates to pursue a more in depth analysis of a chosen industry sector or discipline. The program is delivered by distinguished members of KIMEP s faculty supplemented by expert adjuncts from business and government in Kazakhstan and visiting scholars from overseas. Admission and Study Policies Admission Criteria KIMEP seeks to admit students who have demonstrated the potential to succeed in business and government and have shown evidence of their managerial and leadership capability for at least five years at the supervisory, tactical and strategic levels. Criteria for admission include such qualities as demonstrated management and leadership performance, competency in English, work/real life business experience and achievements combined with leadership and creativity. Specifically, the following criteria shall be applied: At least a bachelor s degree from a recognized university Evidence of experience in a supervisory/leadership position within business or government Demonstrated proficiency in English Stated commitment to the program Degree Requirements (1) Credit Requirements: A total of 45 credits are required to obtain the degree. Breakdown is as follows: Coursework (13 courses, each with 3 credits: 3 x 13 = 39 Credits) A work of original research (thesis) in reported form: Directed Individual Study (6 Credits) (2) Other Requirements: Successful demonstration of applied knowledge will be assessed by a variety of evaluation mechanisms as prescribed by the specific course instructor. This may include any of the following (as well as other relevant assignments): Mid-term and Final Examinations Individual Projects (Written and Oral Presentation) Team Projects (Written and Oral Presentations)
(3) Transfer Credit: The transfer of course work from other institutions of equivalent or higher standing can be considered. No transfer of credit for life or business experience will be observed. A maximum of 9 credit hours of graduate work may be transferred from an equivalent program. The Executive MBA Committee and the Bang College of Business will consider course credit on a case-by-case basis. Credit transfer does not affect the tuition fee for the program. Candidates are required to pay the full tuition cost in effect at the time of enrollment regardless of credit transfer. (4) Course Work Initially, a set or fixed curriculum of 13 courses (39 credits) and the Directed Individual Study (6 credits) will constitute the Executive MBA. As the program engages with area businesses the curriculum may be expanded to offer a core, required curriculum, with electives allowing for some specialization. (5) Time to Complete the Executive MBA degree Only Full-Time students will be admitted The program is delivered such that students are expected to complete all degree requirements within a 21-month period. The maximum duration of the program is 36 months. Under exceptional circumstances the Executive MBA Committee may extend this period. Tuition and Refund Policies Tuition (1) Fees: There is one fee for the program, referred to as the Tuition Fee. This fee includes: Tuition in the amount of 2 900 000 tenge Textbooks and/or reference materials Meals and refreshments during class sessions (2) Payment Options: There are two payment options for the Executive MBA Tuition Fee. Option 1: Full Tuition Payment Upon Enrollment Candidates pay for the full program prior to commencement in the program. In the case f advance payment, candidates are provided a 10% discount on the total tuition fee (in effect at the time of enrollment). Option 2: Four Installment Payment Plan Payment for the program is made in four installments, each equal to 25% of the total tuition fee and each spaced a quarter of the program s 14 course duration apart. First installment deadline: First day of first course Second installment deadline: Midpoint of fourth course (First day of second meeting) Third installment deadline: First day of eighth course Fourth installment deadline: Midpoint of eleventh course (First day of second meeting) There is no discount on the tuition fee under this payment plan. Note that candidates are free to pay in two installments of 50% of full fee on first and third installment deadlines articulated above.
Refund The refund available to students is dependent on the payment option chosen by the student. In each case the student forfeits claim to 25% of the full tuition fee at the start of each quarter. Forfeited amount is cumulative resulting in no refund available after the start of the fourth quarter of the program. (1) Refund Policy for Full Tuition Payment Upon Enrollment A full refund of tuition fee paid is available up to, and including, the day prior to the first class meeting. Partial refunds follow the schedule below: Refund Amount Available Until (Discounted Tuition) (25% * Full Tuition) Midpoint of fourth course (First day of second meeting) (Discounted Tuition) (50% * Full Tuition) First day of eighth course (Discounted Tuition) (75% * Full Tuition) Midpoint of eleventh course (First day of second meeting) (2) Refund Policy for Four Installment Payment Plan Candidates forfeit refund of quarterly tuition fee payment upon commencement of each quarter. Payment for any quarter that has not commenced is fully refunded. Suspension of Studies The program recognizes that unforeseen circumstances may result in a student being unable to attend one or more courses. In such cases, the student may request a temporary suspension of their studies. This does not mean a withdrawal from the program itself. Requests to suspend studies must be made in writing to the Executive MBA Program Director. Courses missed during the period of suspension may be taken by joining another Executive MBA cohort. In the event that the course is not offered by the Executive MBA Program, or if the student is unable to attend the course that is offered, the student may be required to take a similar course (approved by the Executive MBA Program) in KIMEP s regular MBA program. Alternatively, the student may make a special request to the Executive MBA Program Director to complete the course requirement via selfstudy. Normally, a maximum of one self-study course will be permitted in the program. At the discretion of the program additional requests may be considered in exceptional circumstances. In the cases of courses taken by joining another Executive MBA cohort, or taken with the regular MBA program, there will be no additional charge to the student provided the request for suspension of studies was received prior to the start of the course. In the case of self-study the student will be required to pay half the (Executive MBA) full credit value for the course. A suspension of studies does not alter the time allowed to complete the Executive MBA degree. It is the student s responsibility to complete the degree requirements with the time articulated in the Degree Requirements section of the Program Overview and / or KIMEP catalogue. Grade of Incomplete Any instructor may assign a grade of "I" (Incomplete) to any student who has failed to fulfill any course requirements. 1. The grade "I" will be changed by the instructor to a letter grade (A, B, C, etc.) at a time agreed by the instructor and Executive MBA program director. Work required to complete the course is at the discretion of the instructor. The student may be required to attend part of the same course (with another cohort) or complete some assignment/coursework. In the former case, the student is not obliged to register for the course and pay tuition. 2. If a student fails to complete all requirements as assigned by the instructor within the timeframe prescribed, the I will automatically convert in to an F. 3. It is the responsibility of the student to contact the instructor and determine what work needs to be completed to convert the "I" into a standard grade. 4. The student may retake the course awarded an "I". However, if the student selects this option the student is responsible for paying full tuition for the course.
5. If an instructor who has assigned a grade of "I" to a student has left the Institute during the time allotted, then the program director is responsible for assigning a faculty member to convert the grade of "I" to a letter grade. 6. The grade of "I" is assigned 0 credits. Retaking of Courses Students retaking courses for reasons other than those described above will be required to pay a tuition fee based on the per-credit fee in effect for the Executive MBA class that he/she joins. The tuition fee will be calculated as total credits in the program / full tuition fee for the program * credit value of the course. The Learning Model (Curriculum Structure) The Executive MBA is offered via a venue that is consistent with area business and government needs. Class meetings are scheduled on alternate weekends in intensive sessions. In the future, a customized meeting schedule may be developed to accommodate the specific needs of prospective candidates. In either model, the requisite 45-hours of contact time with student and faculty per each 3-credit course will be achieved. The student will supplement their course meetings with KIMEP s Distance Learning platform allowing off-campus interchange with faculty and fellow students. The schedule or order of course delivery is at the discretion of the Executive MBA Committee. While the program curriculum is fixed, the order that courses are delivered may vary from cohort to cohort. Executive MBA Program Courses Prerequisites to all Executive MBA courses shall be determined at the discretion of the Executive MBA Committee. In general, at least three years of business or government management or leadership experience is sufficient, however, if a particular skill-set or background is missing, a pre-requisite course can be required. The program balances the business skills and knowledge needed to act in a leadership capacity in a small to large organization: Foundation EBA 5270 Applied Statistics for Managers EBA 5205 Fundamentals of Accounting and Finance Finance EBA 5215 Corporate Finance EBA 5217 Investments, Capital Markets and Financial Institutions Accounting EBA 5220 Managerial Accounting Economics EBA 5230 Managerial Economics Marketing EBA 5241 Marketing Research and Strategy Management EBA 5250 International Business Management EBA 5251 Strategic Management and Business Policy EBA 5252 Organizational Development Operations Management/Information Systems EBA 5271 Information Systems: Managing Data and Knowledge Management EBA 5272 Operations Management: Concepts and Applications Law EBA 5280 Business Law
Specialization EBA 5291 Directed Individual Study Course Descriptions EBA 5205 Fundamentals of Accounting and Finance, 3 credits This course surveys the basic concepts and tools of Accounting and Finance: Accounting: This course focuses on establishing understanding of the underlying principles making it possible to account for business/financial transactions in numeric sense. Students will become familiar with financial statements, and will learn how not only to construct but also to interpret different financial statements. Importance of financial reporting and analyses will be emphasized both during the lecture and through practical case studies. Finance: The course provides an overview of main concepts and issues of the modern financial systems including financial markets and financial institutions. Theoretical grounds for such concepts as time value of money, bond and stock valuation, net present value and investments valuation will be discussed along with the emphasis on practical skills of problem solving by students. This course will lay background for the future advanced courses in Finance. EBA 5215 Corporate Finance, 3 credits Prerequisites: EBA 5205 The course examines in detail financing and investment decisions, and their interrelatedness. The overall goal is to obtain a comprehensive and in-depth perspective of the area of Financial Management. Special emphasis is given on integration of the concepts of financial management into a total systems approach to business decision-making. Major topics include financial analysis and planning, valuation, capital budgeting, capital structure, dividend policy, working capital management, mergers and acquisition, hybrid financing, bankruptcy, multinational financial management, and risk management. EBA 5220 Investments, Capital Markets and Financial Institutions, 3 credits Prerequisites: EBA 5205 The course is an intensive review and study of the investment process in a globalized financial environment. The investment process involves identifying objectives and constraints, formulating and implementing strategies, and monitoring and updating the portfolio as needed. Major topics include investment alternatives, securities markets and trading mechanisms, risk and return analysis, modern investment theory, valuation, analysis and management of bonds, common stocks and derivative securities, and investment performance evaluation. The course also deals with operations and management of different types of financial intermediaries. Regulatory structure over capital markets and institutions, market developmental issues, market microstructure issues, creation of capital market infrastructure, and impacts of globalization and technological developments are also discussed. EBA 5220 Managerial Accounting, 3 credits This course emphasizes the application and usefulness of financial information for internal decisionmaking, planning and control purposes. Through the development of a solid understanding of the underlying principles of management accounting and their application and relevance to business situations, students achieve what is increasingly perceived as a core competence required for all managers. Topics include cost behavior understanding and modeling, operating budgeting process, balanced scorecard and activity based costing methodology. EBA 5230 Managerial Economics, 3 credits The course examines market behavior and focuses on actions of real consumers. The course analyzes how market behavior impacts on production, competition, monopolies and oligopolies. The principles of macroeconomics and microeconomics are reviewed. The course provides students with the ability to understand and utilize economic information relevant to management decision-making in domestic and multinational companies based in Kazakhstan. EBA 5241 Marketing Research and Strategy, 3 credits In this course, students learn to develop and implement effective marketing strategies: from environmental analysis to penetration and competition in markets. They learn to apply analytical
perspective and marketing concepts to such areas as product offering, communications programs, distribution channels and pricing. EBA 5250 International Business Management, 3 credits The course introduces the student to the "real world" of international business and covers the theory and practice of international business since the political transformations in the world in the 1980s/1990s. The areas covered are globalization, country factors, global trade and investment, global monetary system, regional economic integration (Americas, Europe, Asia Pacific and others), strategy and organization, joint ventures and strategic alliances, international business operations such as export and import management, global manufacturing, global marketing, global human resource management, international accounting and financial management and their implications for business. Case studies of international, multinational and global enterprises and practical managerial applications in Kazakhstan and neighbor CIS countries are part of the course. EBA 5251 Strategic Management and Business Policy, 3 credits This course covers the decisions and actions by top management for the objective of formulating and implementing short and long-term plans that determine organizational performance, role of top management decision-making in establishing the firm's mission, strategic analysis of alternative actions, and evaluation of external and internal environmental conditions, industry characteristics, and organizational capabilities in determining the strategy of the firm for the 21st century. Control systems are also covered with emphasis on new management practices. The course integrates the different business disciplines for the purpose of developing the student's strategic decision-making skills. The focus is on (complex) case studies, strategic thinking, project management, the use of quality to improve performance and assignments related to the development of top management. EBA 5252 Organizational Development, 3 credits This course examines management and leadership tasks associated with the effective design of an organization to achieve strategic objectives. Emphasis is placed on creating alignment among people, culture, structure and reward systems of an organization to assure high performance. The course considers international best practice in management and HR techniques and compares with practices prevalent in Kazakhstan today. This course also examines the role of the leader in the organization and facilitates the development of fundamental leadership skills such as self-awareness, strategic thinking, creating a motivating environment, empowerment and delegation, managing change, and team processing in modern organizations. The course will also explore the emergence of corporate ethics in the business/work environment, its impact on the role of the leader and how it can be applied in Central Asia. EBA 5270 Applied Statistics for Managers, 3 credits This course develops the ability of managers to understand and apply statistical methods to the real world of business. Probability and statistics topics include elementary probability theory, graphical descriptions of data, random variables, hypothesis testing, sampling distributions, regression and correlation analysis, sampling surveys, statistical modeling, time series, decision analysis and managerial applications. EBA 5271 Information Systems: Managing Data and Knowledge Management, 3 credits This course explores issues associated with Information Technologies (IT) in managing a business. Tools and techniques that enable the management of businesses within a corporate setting are covered. Participants will learn to design and develop relevant databases for the company in both an international and local context. In particular, the role IT plays in developing business systems is emphasized. Systems concepts utilized in developing business models, data storage, data handling, data quality, data integrity and data validation concepts are discussed to illustrate how to develop and manage a relational database. Methods and issues in managing data security, data quality, master and transaction file management are also covered. The course then explores data mining operations and techniques for knowledge management with appropriate software tools. Finally, applications in computer information systems design that address database management, data quality, data handling, data mining and inference for knowledge management are also covered. EBA 5272 Operations Management: Concepts and Applications, 3 credits
The course focuses on managing resources in service and production operations environments for globalization and outsourcing for competitive advantage from a strategic viewpoint. Participants will learn how the value chain and lean synchronization improves SCM design. The course builds a solid foundation in designing SCM networks, process design, capacity assessment and operations network configuration in SCM. The role of location and distribution networks, customer handling, order fulfillment and service quality design in SCM are identified. Participants will understand the applications of strategic forecasting, inventory flow, MRP, vendor selection and evaluation, purchasing and subcontracting, contract preparations, management of integrated project planning and financial analysis for global strategy formulation. EBA 5280 Business Law, 3 credits This course covers the legal and regulatory environment in which corporations and managers function. Day-to-day decision-making is considered within the context of corporate governance, pertinent laws, governmental policy and social forces upon business strategies. The focus is on the analysis of the legal system and specific topics within the system such as contracts, governmental regulations, agency relationships, torts, corporate and other types of business entities, and related issues. The student should identify the rights, privileges and social responsibilities of business enterprises within the legal environment in which they operate and understand the relationship between legal professionals and the enterprise and the legal parameters within which informed business decisions should be made.