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EXECUTIVE EDUCATION
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SMU Cox Executive Education
Summer Business Institute
An Intensive Course in Business Essentials for Non-Business Majors
What Will I Learn (Key Topics Covered)?
The Institute is comprised of both academic modules and special interest topics including real-world and current events. Topics are integrated throughout the curriculum so you will be introduced to new concepts and skills as they are needed. Fundamental concepts presented early in the course will be built upon as the program progresses.
The month-long program will conclude with a group presentation to a corporate audience. Groups will be critiqued on both their analytical and presentation skills.
Accounting
Accounting has been said to be "the scorecard of business." It translates a firm's many activities into objective numbers that allow both internal and external observers to assess a company's performance. Accounting also provides important data to assist in managerial decision making.
The Accounting module begins with an overview of fundamental accounting terminology and concepts. Next, the primary financial statements - the Balance Sheet, Income Statement, and Statement of Cash Flows - are explored. Understanding what each statement represents and how the three interact will serve as important building blocks for later, higher-level concepts. Students will also learn to read and assess an annual report, the formal document each public firm must issue. Finally, the module will review concepts related to managerial decision making. Topics such as cost behavior and break-even analysis will be explored, and an overview of management control systems will be provided.
Marketing
"Marketing," said Peter Drucker, "is so basic that it cannot be considered a separate function . . . It is the whole business seen from the point of view of its final result, that is, from the customer's point of view." This module will examine how companies identify unfulfilled needs, convert them into business opportunities, and then attempt to maximize consumer satisfaction.
The Marketing module opens with an overview of the role of marketing in firms today. It then introduces concepts of segmentation, targeting, and positioning. Other key topics include the relationship between price and demand, the promotion mix, customer relationship management, and product and brand management. Throughout the module, issues relating to marketing planning, marketing strategy, and product and distribution strategies will be addressed.
Finance
The Finance function makes use of the numbers provided by Accounting to assess performance and plan future activities. Finance concerns itself more with the future than the past, focusing on issues like planning, forecasting, and the sourcing and allocation of capital. A key responsibility within the Finance function of a firm is the raising of money to fund current operations and future growth. Therefore, gaining an understanding of financial instruments and markets is central to this module.
The Finance module begins with an overview of the Finance function and financial markets. The fundamental concepts of "Time Value of Money" and discounted cash flow analysis are next explained in detail. These concepts lead to discussions on stocks and bonds, risk and return, cost of capital, and capital budgeting. The module concludes with sessions on financial modeling and the use of ratio analysis to assess financial performance.
Operations Management / IT
Operations Management involves the collection and maintenance of data, the development of systems, and the use of these to establish effective processes to carry out the work of the firm.
The Operations Management module introduces a big-picture overview of these essential functions within a company. The module focuses on company operations, first introducing tools for forecasting and decision making, then turning to issues related to manufacturing and service processes, linear programming, project and inventory management, and supply chain management.
Special Topics
in addition to the four core content modules, a variety of other topics and special features will be interspersed throughout the course. Sessions on EconomicsandBusiness Law, for example, will help broaden the student's understanding of the business arena. Other key, added-value sessions include the following:
Operations Management Field Trip & Marketing Field Trip
During the program, students will have the opportunity to get a behind the scenes look at various companies. Students will be accompanied by a course instructor who will help them apply classroom concepts to the business processes they are seeing at the corporate site.
Career Planning
Beyond the primary academic content in the curriculum, career planning assistance is an important, added-value component of the Institute. Students will be instructed on how to prepare an impactful resume, and effective interviewing sills will be demonstrated. Student resumes brought to the program will be individually critiqued. Additionally, a panel of corporate recruiters will share its assessment of what makes for a desirable job candidate and how candidates can best present themselves in an interview setting.
Computer Skills
Two sessions in the course curriculum provide a hands-on, introductory look at two of the most commonly used Microsoft products - Excel® and PowerPoint®. Whether performing analysis or presenting findings, these two software programs are essential in today's corporate world.
Group Presentations
In the final week of the Institute, the class will be divided into small work groups, and students will prepare oral and written case analysis.
Each group will selectquestions for oral presentation and will be coached throughout the preparation process. Final presentations will be given on the last morning of the program before a small panel of corporate managers. Groups will be critiqued on their presentations by course instructors and panel members.
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