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 Markets
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 for Emerging Markets
The module deals with the fundamentally new business models in emerging markets 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.
Students will examine ideas and principles of 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, as well as best practice in managing projects internationally.
Strategic Marketing Simulation - MarkStrat
Markstrat is a marketing simulation software which offers students and professionals a risk-free platform in order to test theories and make decisions. Used in combination with traditional training methods such as conceptual sessions or case studies, MarkStrat is a highly effective tool to learn strategic marketing concepts. Student teams will be given a company and product portfolio to manage in a dynamic and interactive environment.
Innovation EcoSystem Development in VUCA environment
The course will introduce the participants to the methodology of rapid foresight, design thinking and other tools. Participants will engage in an exciting interactive exercise, showcasing the major stages of innovation ecosystem development: creation of innovation community, strategic vision development, and roadmap development.
New Markets Development
This course can only be chosen in connection with "Innovations EcoSystem Development". It is targeted on developing basic skills to analize international markets in transformation: exploring the nature of the market, identifying global long-term trends, understanding emerging consumer patterns and technologies.
Elective: Government Relations & Business in Society
This course focuses on major aspects of managing relations with the government as a tool to create a sustainable environment for business. The class discussions and in-class mini projects are the main methods of gaining practival knowledge during this course.
Elective: Corruption, Compliance and Fraud
The course is designed to broaden your understanding of the complexities of corruption, its root causes and impact on society. The role of various actors and international instruments in eliminating corruption and promoting the rule of law will be examined. Knowledge and skills to develop a sustainable policy for the promotion of integrity will be enhanced.
Elective: Strategies of Entering the New Markets
The course is intended to consider the theoretical and practical aspects of developing and implementing strategies to enter new international markets. Market entry strategies can be varous, what will work for one industry or market may not be suitable for others. Students will learn how to evaluate the effectivemenss of a chosen strategy.
Elective: Sales and Distribution Management in Emerging Markets
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.
Elective: Consumer Behavior in Emerging Markets
The module focuses on the specifics of consumer behavior in emerging 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: Cross-Cultural Management
The trend of globalizationin business requires managers to effectively accomplish international assignments, to collaborate with and lead cross-cultural teams, and to manage the increasingly diverse workforce. The corse focuses on the variety of issues and opportunities that arise when we take action outside our own culture. Outside our native culture, our attitudes and actions do not necessarily mean the same thing.
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.