Management in Emerging Economies
Specialization of RANEPA, Institute of Business Studies Moscow, Russia - Degree: MA in International Business
Gain Strategic Skills in Emerging Economies at The Institute of Business Studies, RANEPA
Emerging economies pose special challenges for managers aiming to enter attractive new markets, or to exploit new opportunities of world-wide division of labor.
The Management of Emerging Economies specialization at the Institute of Business Studies, RANEPA delves into the varying factors and trends in this evolving business area. IBSA students interested in this important aspect of international business will develop important skills through the program’s range of modules. These course modules help students develop their knowledge of emerging markets through the study of concepts like economic growth strategies for emerging economies, new business models for emerging markets, the management of international project portfolios, financing new projects, the management of creative and innovative designs, mass media and its global impact, the international business context, marketing for emerging markets, and the varying issues for the development of emerging markets (namely, agricultural economics, the energy sector, international sales, industrialization processes, and challenges with corruption or corporate fraud). IBS professors have a lot of expertise in the field of management in emerging economies and are in most cases practicing professionals.
After completing the requisite studies in this specialization, IBSA students will have extensive knowledge and expertise in the emerging markets as a factor in global economic strategies. They will also earn the institute’s graduate business degree – an M.A. in International Business. This useful degree program is supported by the accreditation boards of EPAS and the Russian University Academic Standards Committee, thus ensuring that these IBSA students can feel confident to pursue flourishing careers in global business.
This Management in Emerging Economies specialization at the Institute of Business Studies, RANEPA is the best second-semester option for IBSA students who are passionate about international business for emerging economies. The core modules are also important to the IBSA Dual Master’s Degree Program and offer these students great global research opportunities in the first semester at four other locations: Germany - International Graduate Center, UK - University of Hertfordshire, US - University of North Carolina Wilmington or Spain - University of Valencia.
Management in Emerging Economies Objectives
Conduct an economic analysis of the behavior of markets and economic agents in a global environment
Formulate corporate strategy within the BRICs (Brazil, Russian Federation, India, and China economies)
Management in Emerging Economies Modules
Macroeconomic Policy for Emerging Economies
This module covers both the theoretical economic background to the economics of emerging economies and the practical response of corporation strategies to such economies. Various growth theories developed in the last 60 years are outlined. Students examine the empirical evidence for the neo-classical growth theories and their successors giving full attention to the exogenous factors that are the pre-requisites for economic growth and to the international connections – the degree of globalization - in trade, finance and knowledge that affect their power. Students then examines the historical and modern models of international economics in both trade and finance and acquire an analytical framework to be able to evaluate the future development of the BRIC economies.
Management Models in Emerging Economies
The module deals with the fundamentally new business models in emerging economies which are expected to identify an important unmet job consumers need to do; perform that job profitably at a price the customer will pay; and carefully implement and evolve the model by constantly testing assumptions and making adjustments. The module addresses the vast potential demand represented by the "middle market" in emerging economies - the millions of people who have the desire and wherewithal to pay for goods and services, from refrigeration to clothes washing to money transfers, that will help them do the "jobs" no current offering adequately. The basics of the theory of business models, as well as the techniques of crafting and executing management practices are discussed using cases.
Investing and project financing in Emerging Economies
The module involves the creation of a legally independent project company financed with non-recourse debt and equity from one or more corporate entities for the purpose of financing investment in a single-purpose capital asset, usually with a limited life. Project finance is a significant source of long-dated financing in emerging markets. It will grow strongly, outpacing developed countries. However, risks of investing in these economies are considerable compared to developed economies. This course will introduce financial principles and models that can help managers to asses investment projects in emerging markets. Students will learn the rationale for project financing: prepare the financial plan, assess the risks, design the financing mix, and raise the funds.
Process Management Approach and Project Management
Students will examine ideas and principles of a process management approach for project management. The content is based on PMI® (Project Management Institute) standards for project, program and portfolio management. The issues involved in managing international project resources, changes and risks will be explored. In addition, the links between corporate strategy implementation and portfolio of projects will be reviewed. Ideas of best practice in managing projects internationally will also be analyzed in this module.
Innovations management is a key to business processes in corporate business environments and entrepreneurship. It helps develop innovative thinking and a creative approach to business decision-making. Students get an overview of innovative business stages and an understanding of the specifics of managing high technology projects. Upon completion of the module students are able to determine the necessary resources for different types of innovations, to draw up organizational structures and to understand main types of innovations and their lifecycles.
Strategic Marketing in Emerging Economies
This interdisciplinary project is individual and practice-oriented. It aims to improve research skills as well as intellectual collaboration between the group members. At the group consultations the main emphasis will be put on skills of peer-reviewing, discussing, brain-storming and elaboration of the best management decisions by a group. The presentations of the intermediate results of students’ independent research as well as moderated discussions of the results are considered to be an integral part of the project.
Language of modern communication
The course provides students with an understanding of the media landscape in the ‘Web 2.0 & Web 3.0 time’ against the background of the late Soviet and the early post-Soviet media space. Understanding the changes of the last ten years requires, that within the course, students will get a general picture of the previous context. The first part of the module will be made up of brief introductory lectures and the students’ essays on the basic segments of the information and media space of the 20th century including rumors and oral literature, mass political events like war and deportation, theatre and pop music, books, newspapers, magazines, the radio, TV, and the Internet. The second part of the course will focus on the changes caused by new technologies and their global expansion. An additional aim is to develop the students’ skills as professional critically minded mass media users.
International Business Environment Review
The module will give students a wide overview of the complex reality of the world business environment today, in order to help them to better understand the considerable chances that today’s companies and entrepreneurs face to enter new markets. The big political and economic changes that occurred after the fall of the Berlin Wall, together with the European Integration Process and other int. organizations' activities, represent a precious opportunity to facilitate the political, economic and cultural cooperation among different countries. The focus of the course is to encourage our future managers and entrepreneurs to seriously analyze the chances at their disposal to increase their professional interaction with new realities. Students achieve a better knowledge on historical, political and economical development of each continent, with reference to their new potential business links.
Elective: Agricultural sector in BRICS countries
What is agricultural economics? How is it different from other subjects of economic theories? How and why is agriculture more regulated than most other economic activities? What affects the basic micro- and macroeconomic relationships in the agricultural sector? And finally, what are specific trends within agriculture in the BRIC countries? We will examine the basic principles of agricultural economics first, and then proceed with the agricultural sectors of the BRIC countries. Much of the economics of agriculture here is based on the fundamentals of agricultural economics applicable worldwide, but there are significant differences that we will explore in detail. Also, corporations and other businesses engaged in agriculture are subject to a wide variety of legal regulation, and recipients of a wide array of government subsidies, all of which are vital to understand.
Elective: Energy Sector in BRICS countries
Students learn about the key issues, drivers and barriers which shape energy policy decisions and implementation like energy security. The focus lies on problems policymakers face in emerging resource rich countries seeking to encourage development of their hydrocarbon sector by providing optimal investment and economic regimes, as well as integrating the economic, social and environmental aspects of system performance. Methods of improvements of energy sector management from the governmental point of view are also going to be discussed in this module. National energy policies are analyzed in a complex geopolitical context influencing every aspect of energy production, supply and use.
Elective: The Automobile Industry in Emerging Economies
What are the threats, opportunities and market startegies for car-makers in the BRIC countries? Upon completion of the course the students should:
- Have in-depth knowledge of the automotive sector of transitional economies
- Apply skills of expert appraisal and strategic planning to automotive sector
- Work out a competitive strategy for entering the car market
- Evaluate country markets and risks and assess the most suitable international market entry strategies.
Elective: Sales and Distribution Management in BRICS Countries
This module is dedicated to the strategic knowledge about sales expansion and net sales revenue generation through national distribution system design and management. The focus of the module is on contemporary solutions and management technologies creating a corporate competence in efficient distribution network build-up and management. Students learn about distribution strategies, strategic distribution models, corporate distribution system evaluation through specific KPIs and methodology how to create an successful distribution network in sluggish and fluctuated international consumer markets (with the focus on BRICS).
Elective: Consumer behaviors in emerging economies
The elective module 'Consumer behaviors in emerging economies' focuses on the specifics of consumer behavior in transitory economies. The process of transition leads to constant change in the economic behavior of the population. The consumer patterns of the economy of shortages are gradually replaced with the patterns typical for the economy of affluence. The new patterns are an invariant of a number of changes – economic, social and motivational. Within this module students will explore the factors and relevant changes in the world of consumption in contemporary Russia.
Elective: Social and economic activity of the population in emerging economies
The module sets out to explore in depth the impact of the economic and social reforms on the Russian population. The reforms provided numerous stimuli for the Russian population to change behavior and to develop new ways to adapt itself to the emerging market. The knowledge of these tendencies in the social and economic behavior of the Russian citizens is essential for a deeper understanding of social change in Russia. The course will largely be based on the institutional approach – change of norms and norm enforcement in contemporary Russian society.
Isaac Johnson-Tyas, USA
The IBS Moscow program serves as a bridge taking the best from European and Asian business models, facilitated by Russia’s size which allows it to simultaneously exist in Europe and Asia.