Finance Programmes 2012 - 2013

Finance for Executives

Executive Education

Expand your horizon. Make an impact.

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Finance for Executives

Gain an edge on business with tools and frameworks The economic uncertainties of todays world make it imperative for non-financial managers to be able to communicate with those in accounting and finance. Moreover, they need a firm grasp on the financial consequences of decisions. Finance for Executives provides participants with the necessary tools and knowledge to understand the financial consequences of business decisions and enables non-financial managers to communicate effectively with those in accounting and finance positions. With volatility in financial markets and margins narrowing from highly competitive trading conditions, executives need to be aware of how investment and funding decisions can affect the value of the organisation. Participants will leave the programme with a new ability to integrate the financial approach into their business decision making. In doing so, they will contribute to ensuring a sound financial basis for all of their organisations strategic plans and decisions. Their increased skills in communicating with those in finance and accounting will also ensure that all of the organisations functions are better integrated, significantly boosting the firms overall value. Key benefits Better understanding of key financial elements of value-based management Improved effectiveness in communication between managers and accounting and finance functions Personalised review of financial statements from your company or business unit by our expert faculty Powerful tools to aid analysis and decisionmaking Faculty Programme Directors Pekka Hietala Professor of Finance Urs Peyer Associate Professor of Finance

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Programme content Finance for Executives reveals the main aspects of the impact of corporate policies and operations on financial performance. Financial accounting & analysis Managers understand the reality of the business units they run. The role of financial accounting is to communicate this reality to the organisations various interest groups through financial statements. What managers and other interest groups need to know is how to interpret this information to get to the reality behind the numbers. Review of key financial statements necessary for understanding and communication Development of analytical skills such as ratio and cash flow analysis and financial forecasting Emphasis on how a companys operating plans and overall strategy influence its financial performance and need for funds Analysis of investment decisions Appraisal of investment opportunities is one of the most important management processes for a firm, as it frequently involves large amounts of funds and generally has long-term effects on profitability and risk. Review of the various methods commonly used to analyse investment projects Identifying the relevant cash flows Dealing with depreciation, book values and taxes Evaluating economic life, residual value and sequential decisions Interpreting and measuring cost of capital Corporate financing and valuation Successful managers must understand the financial consequences of their strategic decisions. In order to make value-increasing decisions, they must know how firms are valued in financial markets. Valuation of a company How industry specific factors can affect the financial structure and valuation

How a firm finances its development The use of leverage and the cost of capital The investors expectations of return and risk The relationship between corporate strategy, the stock market and the shareholder Value-based management Value-based management is a comprehensive approach to management based on the principle that managers at all levels of the organisation must manage their firms resources with the ultimate objective of creating shareholder value. Introduction to the principles of Value Based Management How to link Value Based Management, performance measurement and managers compensation, and how to manage for profitable growth Mergers & acquisitions This section explores the potential for value creation from corporate restructuring, and the potential drivers for value creation or destruction. Financial analysis of mergers & acquisitions Identifying the value created in private equity and leveraged buyouts Risk and return expectations Issues of hostile takeovers Participant profile Typically, participants fill one of the following profiles: General managers and chief executives at divisional, regional and business unit levels Senior functional managers outside the finance function Corporate customer-relations officers in financial service organisations. Equally, executives from any function wanting to learn more about finance either to understand more and communicate better, or because they are moving into a finance position will benefit.

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Some of our past participants have included Vice President Johnson & Johnson Belgium Business Director IBOPE Brazil Purchasing & Suppliers Development Director Ferrari Italy CEO Neurokey Denmark Head of Personal Finance BNP Paribas Egypt CEO Philips France Investment Director Robert Bosch Venture Capital Germany Senior Banking Expert Rabo Development Malaysia Director Operations BP The Netherlands Executive Vice President Corporate Responsability Storebrand Norway Customer Management Director METRO Romania President Uralkali Russia

Chairman Advisor Capital Market Authority Saudi Arabia Operations Director STATS ChipPAC Singapore Director Market Access & Healthcare Policy Pfizer Switzerland Executive Director Dana Gas United Arab Emirates Senior Vice President Brand Performance EMEA / Managing Director InterContinental Hotels The United Kingdom Technology Manager The Linde Group The United States Vice President Global Service Delivery Ericsson Sweden Shipbroker Golden Destiny Greece Vice President Regional Advertising & Licensing Sales Turner Broadcasting System Hong Kong I have discovered a new angle from which business is viewed - the financial one: it will be a great help to me in my future activities. I feel that a programme should be stimulating and motivate one to explore the topics dealt with in greater depth. Finance for Executives successfully achieves both these goals. Deputy General Manager Pasteur Mrieux, France

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Region/Country
Asia Benelux Eastern Europe Germany Middle East Northern Europe Oceania Pacific Southern America Southern Europe Western Europe Other 3% 19% 5% 12% 13% 12% 3% 2% 3% 25% 3%

Industry
Consumer goods Finance & Banking Heavy industry Natural resources Pharmaceuticals & Chemicals Services Telecommunications Transport Other 8% 8% 4% 12% 14% 20% 11% 8% 9% Electrical & Engineering 6%

Function
Business Dev. & Corporate Plan. Finance General Management Human Resources Management Manufacturing & Operations Medical Project Management R & D Management Sales & Marketing Other 7% 6% 24% 4% 6% 4% 5% 9% 20% 15%

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Campus Information
INSEAD is unique among leading business schools in having a 3-campus structure spanning Europe, Asia and Abu Dhabi. Each campus is highly cosmopolitan and has its own world-class faculty in residence. Executive Education programmes run at 1, 2 or even all 3 locations, while Customised Programmes can be held anywhere in the world. Europe Campus INSEADs 8-hectare Europe Campus is situated on the edge of the beautiful, historic town of Fontainebleau, France. It nestles in the vast Forest of Fontainebleau yet is less than 1 hour from the centre of Paris and international airports. Facilities are of the highest standard and include: 29 lecture theatres, many classrooms, study areas, 2 restaurants, a bar, a bookshop, extensive library resources, a fully equipped gym and 2 on-campus hotels with a total of 158 rooms. Asia Campus The Asia Campus in Singapore occupies a 1.8-hectare site in the heart of the citys Buona Vista knowledge hub just 30 minutes from the airport and 15 minutes from the financial district. Its state-of-the-art facilities (currently being extended for the second time) include: 8 lecture theatres, classrooms, study areas, a restaurant, 2 bars, a 24-hour library, a fitness centre and 85 hotel rooms for participants. Abu Dhabi Campus Abu Dhabis city centre is home to INSEADs third campus, just 40 minutes from the airport and 10 minutes from the Corniche. This new, 14-storey, 6,000 square-metre building, purposely designed for Executive Education, has 3 lecture theatres, 2 conference rooms, classrooms, study areas, a library, a restaurant and prayer rooms.

Europe Campus

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Asia Campus

Abu Dhabi Campus

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Practical information
Calendar 2012 - 2013 Programme
Finance for Executives

Date
1828 September 2012 414 December 2012 26 February6 March 2013 1626 April 2013 1727 September 2013 313 December 2013

Location
Fontainebleau Fontainebleau Singapore Fontainebleau Fontainebleau Fontainebleau

Length
9 days 9 days 7 days 9 days 9 days 9 days

Fee*
11,700 11,700 SG$16,100 11,700 11,700 11,700

Level
Board Experienced General Manager New General Manager Senior Functional Manager Functional Manager New Manager Specialist

Participants are required to attend a programme introduction and opening dinner prior to the first day of formal instruction. Application procedure Places on the programmes are confirmed on a first-come, first-served basis, taking into consideration the applicants level, objectives and the diversity of the classes. We recommend that you submit your completed application form as early as possible, preferably 6 weeks prior to programme commencement. The Admissions Committee will review your application and advise you on the outcome as soon as possible. Please do not hesitate to contact us if you have any questions about which programme may best suit your objectives or for any additional information.
Note: all our Open-enrolment Programmes are taught in English and participants should be able to exchange complex views, listen and learn through the medium of English.

Tuition fees* The programme fee covers tuition, course materials and lunches on working days as well as the closing dinners. It does not include travel, accommodation and other incidentals. Participants will have to settle accommodation expenses and other incidentals before the end of the programme.
*Fee subject to change. For programmes delivered in France, VAT (19.6%) to be added for companies based in France, or for European companies where no VAT number is supplied. For programmes delivered in Singapore, GST (7%) to be added for Singapore-registered companies.

Contact us For further information on Finance for Executives programme, contact: INSEAD Europe Campus Michael Wort Tel: +33 (0)1 60 72 40 30 Fax: +33 (0)1 60 74 55 13 E-mail: FFE_Contact@insead.edu INSEAD Asia Campus Mitz Ceriales Tel: +65 6799 5275 Fax: +65 6799 5299 E-mail: FFE_Contact@insead.edu Visit our website: http://executive.education. insead.edu/executive_finance/

INSEAD Europe Campus Boulevard de Constance 77305 Fontainebleau Cedex, France Tel: +33 (0)1 60 72 42 90 Fax: +33 (0)1 60 74 55 13 Email: execed.europe@insead.edu INSEAD Asia Campus 1 Ayer Rajah Avenue Singapore 138676 Tel: +65 6799 5288 Fax: +65 6799 5299 Email: execed.asia@insead.edu INSEAD Abu Dhabi Campus Muroor Road Street N4, P.O Box 48049 Abu Dhabi, United Arab Emirates Tel: +971 2 651 52 00 Fax: +971 2 443 94 61 Email: execed.mena@insead.edu http://executive.education.insead.edu