EXECUTIVE EDUCATION

IPAA Leadership Training Program

“This has been an exciting, informative, educational experience that I look forward to applying within our organization.”
Eric Linn
President
Mid Atlantic Well Service Inc.
 

Description

The Independent Petroleum Association of America and SMU Cox Executive Education have created this program to help equip tomorrow’s IPAA leaders with the critical business tools they need to succeed. The intensive five-day course will strengthen your business acumen in decision-making, negotiation and leadership. By offering this service to its member and potential new members, IPAA is furthering its goals of promoting education, setting professional standards and developing energy leaders for the future.


Who should attend

• Individuals who have been identified as having the potential for expanded roles and need a broader base of knowledge about the industry
• New managers within the company.
• Although not specific to family business, second and third generation family members of small-midsize oil and gas companies who will continue with the family business.

Topics

• Accounting fundamentals and financial reporting.
What key accounting principles should every senior manager master? What accounting choices must you make? How do these choices affect external financial reporting and what can you communicate through your firm’s financial statements? In light of regulatory changes, in these sessions you will master essential information you need to understand the impact of accounting methods and the use of financial statements to communicate company strategy to external stakeholders. 


• Managing financial resources.
Corporate managers must pay attention to the “bottom line”—but what does that mean exactly? This session explains and compares popular financial measures of corporate success (accounting numbers and ratios, stock returns and cash flow analysis.) It also explores the abilities of these indicators to detect operational and financial excellence.

• Impact of globalization on energy markets and firms.
The session tracks the emergence of globalization as a major force affecting markets and firms around the world—with a detailed exploration of the impact on the energy sector. It addresses how firms must understand globalization and be able to develop strategies to take advantage of the forces it unleashes. 


• Negotiation.
This session teaches participants how to negotiate more effectively by identifying the five styles of negotiators, including their own; the two types of bargaining; the importance of preparation; tactics and counter-tactics; the dynamics of multimember negotiating teams; and ethical and legal constraints in negotiating.

• Managing people.
Senior managers assume the challenging role of managing people up, down, across and outside their organizations. How do you provide positive leadership to effectively and efficiently manage these people and create a high performance culture? This session highlights ways to energize and empower employees through goals and performance, accelerate their development, and use motivational tools to manage their attitudes and behavior.

• Capital markets, value creation and mergers and acquisitions. Companies often depend on access to external capital providers to fund their growth. How can companies make capital budgeting decisions that meet or exceed the requirements of capital markets? How do investors assess the risk/return tradeoff? This session examines how Main Street and Wall Street interact and illustrates how capital markets help monitor managerial actions. Within the context of energy-sector merger and acquisition, participants develop an oil company valuation and compare the operational oil company objective of reserve growth with the return expectations of the capital market.

• Strategy.
What key strategy concepts are energy firms using today? What do we mean by competitive advantage? Core competence? Industry analysis? Strategy execution? What are the key strategic decisions firms need to make to earn superior returns in their industries? This session explores the central ideas behind strategic thinking and how they apply to firms in general and resource-based firms in particular.

• Governance and family business.
This optional session examines the key issues in managing family-controlled companies—both public and private. How should intergenerational issues be addressed, especially in the context of management succession? How should the firm be governed to achieve high economic performance? What are the key drivers of success for the firm's board of directors and top management?

Benefits

• Participate in stimulating classroom discussions on key leadership and industry topics
• Learn how other companies have implemented successful strategies for survival and growth
• Experience a practical "nuts-and-bolts" approach to learning—acquiring skills you can apply immediately
• Prepare yourself for managing in a global context
• Take time for introspection and self-assessment—analyzing your own leadership style and developing action plans for improving your management effectiveness
• Learn to analyze competitive positioning and identify your firm's strengths and weaknesses
• Gain a level of comfort with financial statements and acquire new tools for analyzing your firm's financial performance
• Make valuable industry contacts and share strategies and ideas with an accomplished, international group of attendees
• Prepare for advancement to a broader, more senior role in your company

Faculty

Gordon Walker, Ph.D., is professor and chairman of the Strategy and Entrepreneurship Department. He has taught at the Sloan School, the Massachusetts Institute of Technology, the Wharton School, the University of Pennsylvania and Yale University. He is the author of numerous articles, as well as the book, “Modern Competitive Strategy.” He serves on the editorial board of “Administrative Science Quarterly” and the editorial review board of “Strategic Organization.” Walker has received several grants from the National Science Foundation and has consulted and performed contract research for a number of organizations, including Chaparral Steel, Sprint, Xerox, General Motors, Johnson and Johnson, Carlson Restaurants, Texas Instruments, The Associates and EDS, as well as numerous smaller firms. Walker holds a bachelor of arts degree from Yale University and a master’s degree in business administration and doctor of philosophy degree from the Wharton School at the University of Pennsylvania.

Michael R. Vetsuypens, Ph.D., professor of finance, teaches corporate finance and international finance in the undergraduate program, MBA program and executive MBA program. Vetsuypens’ research interests include leveraged buyouts, investment banking, the venture capital market, initial public offerings and CEO compensation. His studies has been published in the leading finance journals and presented at numerous professional finance conferences. A native of Brussels, Belgium, Vetsuypens speaks several languages. He has taught managers in the U.S., Europe, Japan, the Middle East and Latin America. His corporate executive education clients include ConocoPhillips, Anadarko, Valero Energy, Texas Instruments, PdVSA, Saudi Aramco and others. During his tenure at Cox, Vetsuypens has received numerous awards for excellence in teaching, research and community service. He holds a master’s degree and a doctor of philosophy degree in business administration from the University of Rochester and was selected as a Fulbright Fellow.
 
Ross W. Stoddard III is an attorney-mediator who practiced law for 15 years in several fields, including government contracts, business formations and transactions, investments and other areas of civil litigation. In 1989, he developed a full-time mediation practice and has conducted more than 3,300 mediations involving more than $20 billion in aggregate claims in a wide variety of matters. He also serves as mediator in pre-litigation disputes and business negotiations. Stoddard has served on the faculty of more than 40 mediation/negotiation programs with more than 1,500 attorneys and judges participating. He holds a bachelor of arts degree in business administration from SMU and a doctor of jurisprudence degree from the University of Texas School of Law
 
Mel Fugate, Ph.D., is an assistant professor in the Management and Organizations Department. His primary research and consulting efforts focus on employee reactions to organizational change, including downsizing, restructurings, plant closings, and mergers and acquisitions. As a consultant, Fugate frequently helps managers assess, plan for and manage the impact of change events on employees. He also performs assessments of organizational culture and provides leadership development and training. Before coming to SMU, Fugate taught at Tulane University and Arizona State University. Before beginning his academic career, he was a consultant in marketing and business development and a manager in the pharmaceutical industry. Fugate holds degrees in engineering and business from Michigan State University and a doctor of philosophy degree in business administration and management from Arizona State University.

Michael F. van Breda, Ph.D., associate professor of accounting, teaches managerial accounting at the undergraduate and graduate levels. He also teaches accounting theory, financial accounting and advanced topics in accounting. In 22 years of teaching at SMU, van Breda has served as chairman of the Accounting, Business Law and Tax departments; director of the SMU-in-Oxford program; and director of the Graduate Certificate Program in Finance. He has received numerous teaching awards. Van Breda is the author of “Prediction of Corporate Earnings and Accounting Theory” and numerous scholarly articles. His primary research interests are accounting theory and accounting history. Van Breda completed his undergraduate studies in pure mathematics and theoretical physics at the University of Stellenbosch. He holds a master’s degree in business, summa cum laude, from the University of Cape Town and a doctor of philosophy degree in accounting from Stanford University.

Tassu Shervani, Ph.D., is an associate professor of marketing. He is also a consultant in the areas of strategy and organization, shareholder value, business models, innovation and business development. Shervani has taught in various executive education programs at Duke, Emory and the University of Texas. While teaching at the University of Texas Business School, he was twice selected as an outstanding faculty member by “BusinessWeek” magazine. Shervani holds a master’s degree in business administration from Xavier Institute in Jamshedpur, India, and a doctor of philosophy degree from the University of Southern California.