Finance specialisation
Strategic Taxation Issues
Brief overview
The course intends to provide entrepreneurs and executives with a strong knowledge in corporate tax matters. All types of taxes, in particular income and profit taxes, as well as indirect taxes (VAT), are treated within their business and transactional context. Fiscal issues encountered upon the creation of a company, the relationship between shareholders and their company or issues linked to transactions between related parties are examples of situations analysed. The course also focuses on transactions, like mergers and acquisitions, financial restructuring or the sale of companies (exit) done by ways of IPOs, share and asset deals.
Learning outcomes
By the end of this module, participants should be able to:
- Analyse the implications of income taxes, profit taxes and VAT within a business and transactional context;
- Interpret tax issues encountered upon the life of a company in particular in situations like creations; mergers and acquisitions and sales (via IPO or share and asset deals);
- Evaluate tax planning opportunities on domestic and international level;
- Become familiar with corporate tax concepts to optimize interaction with tax specialists.
Brief overview
This course is designed to improve the students’ understanding of the fundamental concepts of security investments. There are three main modules in the course: (1) security valuation, (2) asset allocation and portfolio optimization, and (3) practical portfolio trading strategies. We will review theory but will pay particularly close attention to the empirical evidence.
Learning outcomes
By the end of this module, participants should be able to:
- Discuss asset allocation while minimizing associated risks (risk management);
- Explore contemporary approaches to portfolio management and portfolio optimization;
- Discuss the fundamental concepts of security investments and security valuation;
- Discuss the role and functions of financial intermediaries such as mutual funds, pension funds, and hedge funds.
Brief overview
This course provides an analysis of the effects of various corporate financial policy decisions on the value of the firm, including the effects of taxes, bankruptcy costs and agency costs on these decisions. The course will focus on the design of capital structure (What is the optimal trade-off between equity and debt), and the relation between financing and valuation (How does capital structure affect firm value and project valuation). Other topics include the impact of payout policy on firm value and the rationale for mergers and acquisitions.
Learning outcomes
By the end of this module, participants should be able to:
- Analyse the effects of various corporate financial policy decisions on the value of the firm (effects of taxes, bankruptcy costs, etc.);
- Design an optimal capital structure estimating the trade-off between equity and debt
- Design an optimal dividend policy respecting corporate finance principles;
- Estimate the cost of capital in presence of risky cash flows.
Brief overview
The course aims to integrate the business model components (environment, market decisions, financial constraints, strategic position, etc...) into sustainable business policies: in the medium term, it sets the generic business strategies: cost/volumes, differentiation and focus strategies. In the long term, management designs corporate strategies: diversification, make of buy, alliances, and globalization.
The course is based on case and mini-cases studies, to be sure Executive MBA participants can use relevant analytical tools to understand, evaluate and propose business models and strategic policy.
Learning outcomes
By the end of this module, participants should be able to:
- Recognise the core problems and issues in complex and unstructured situations;
- Identify appropriate strategies and evaluate alternatives;
- Lead actions for creative management solutions;
- Chose the right tools in problem solving situations.
Brief overview
In this course, participants will focus on the roles of managers as leaders and their impact on individuals, groups and organizations. Students will undergo psychometric testing to obtain insights into their leadership style and personality.
Learning outcomes
By the end of this module, participants should be able to:
- Explain the link between leadership and performance (individual and organisational);
- Use insights into one's personality and leadership;
- Be more confident and self-efficacious with respect to leading;
- Lead in a more effective and visionary manner.
Brief overview
Business revolves around making decisions, often risky decisions, usually with incomplete information and too often under time pressure. Moreover, often we have to interact and negotiate with others who pursue their own goals and agendas. Decision-making and negotiation are business skills that managers often take for granted in themselves and others, but both are not as easy as some might think. The first part of this course will focus on individual and group decision making and is about various tools, illustrated through case-studies and exercises, used to improve decision making. The second part will focus on negotiation and conflict resolution between parties and the successes and risks of different negotiation strategies under various circumstances.
Learning outcomes
By the end of this module, participants should be able to:
- Identify decision making phases and learn about the traps that can exist in each of them;
- Apply tools and techniques for making sound and rational decisions;
- Identify types of negotiations and negotiation strategies;
- Acquire skills to increase the chances of getting a good deal in a negotiation.
Brief overview
The purpose of the entrepreneurship module is to provide participants with the essential ingredients required to identify, evaluate and manage new venture projects that create value in start-up/early stage ventures and entrepreneurially minded companies. The course integrates many of the disciplines in the Executive MBA program and will shed light on the three pillars of a successful project: (i) the opportunity, (ii) the team and (iii) the resources. During this course we will successively look at the notion of opportunity, the key components of a business plan and some issues related with the financing of new ventures or projects. The course will include articles, presentations, cases discussions and group-work as well as a group project.
Learning outcomes
By the end of this module, participants should be able to:
- Evaluate new venture opportunities;
- Link theory to practice;
- Transform an idea into action;
- Develop a business plan for a new venture.
Participants are required to search for a new venture project of their own or related to an existing company willing to diversify its activities. Each group will consist of five (5) or six (6) students. Projects must deal with activities that have viable growth potential. Each group will be required to develop and submit a summary business proposal and a comprehensive business plan related to their project. During the final session of the course each group will present their business plan to the class and a jury of three evaluators.
Learning outcomes
By the end of this project, participants should be able to:
- Assess the potential challenges, risks, and rewards inherent to venturing;
- Manage the dynamics of a team, and oneself, in the planning stage of a start up;
- Apply the newly acquired entrepreneurship knowledge to a real start up project;
- Pitch a new venture concept to a panel of experts.
Brief overview
The course offers an integrative view of how economic, social and environmental sustainability considerations are incorporated in a value chain. Using Nescafé as a practical case the students will explore the challenges of aiming for competitiveness and sustainability along the value chain. From the coffee growing communities, through the processing of coffee beans, product development, retail environment, and in the overall interaction of the corporation with the consumer, employees and society, the students will explore key issues related to the integration of business and society. The course also offers an opportunity for students to work in teams and reflect on emerging team dynamics topics relevant for the Executive MBA programme.
Learning outcomes
By the end of this module, participants should be able to:
- Map a complete value chain;
- Identify the key challenges for a corporation both in terms of competitiveness and of sustainability considerations;
- Make operational choices along the value chain that produce sustainable benefits for society as well as gains for the business;
- Gain an understanding on how I interact with fellow class-mates, working together towards a common goal.
Brief overview
Each participant individually defines a project which must contain a strategic notion. The participants work on their projects during the whole time of the module. Throughout the initial stage they receive help from the expert and the professor. Participants are supposed to present their projects twice: first at an intermediary stage in order to demonstrate progress and secondly at the end of the module.
Learning outcomes
By the end of this project, participants should be able to:
- Apply strategic thinking knowledge to a real company situation;
- Identify strategic opportunities to enhance a company's competitiveness;
- Develop creative and effective options using a global approach;
- Put together convincing arguments as to why a particular strategy should be chosen and develop its implementation plan.
Study Tour at SDA Bocconi - Milan
The HEC Lausanne Faculty, in collaboration with the SDA Bocconi school of Management, has organised a mandatory study tour for the Executive MBA in Management & corporate Finance participants. The classes will take place in SDA Bocconi premises in Milan and in other cities where companies to visit are located.Objectives
The goal of the Executive MBA Study tour is to provide participants with executive training related to 4 topics (corporate strategy, sales management, procurement and project management) and to introduce them to different Italian companies representing success stories of the Made in Italy.
During the Study tour, participants will be introduced to Italian and European companies through case studies discussions, simulations, company visits and testimonials.
Teaching methodology
The Study tour will be characterised by interactive teaching methods, meant to maximise the participants’ involvement. Traditional lectures will therefore be combined with analysis and discussion of case histories and incidents, group work, simulations and role-playing techniques. As a mandatory component of their programme, participants will be assessed and graded for their Study tour.
Provisional programme & Learning outcomes
| Day 1: Corporate Strategy Examine differentiation strategies in the international context Select competitive strategies adapted to fast moving environments => Application: company visit |
| Day 2: Sales Management Interpret modern trends in sales forces management Analyse effective sales strategies => Application: guest speaker presentation |
| Day 3 & 4: Procurement Apply strategic purchasing management principles Identify efficient sourcing strategies and build competitive purchasing portfolios => Application: company visit & guest speaker presentation |
| Day 5: Project Management Use appropriate techniques to define, plan and manage a complex project Define and reduce the risks associated with each project management phases => Application: case study simulation & guest speaker presentation |
Legal disclaimer: The above programme description is for information purposes only and is not legally binding. It may be changed without prior notice.
