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WHU Otto BeisheimSchool of ManagementKellogg-WHU ExecutiveMBA Program Burgplatz 256179 VallendarGermanyPhone: +49 261 6509-186Fax: +49 261 [email protected]

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The Kellogg-WHUExecutive MBA ProgramKellogg School of Management Northwestern UniversityWHU Otto Beisheim School of Management

Local Knowledge.Global Expertise.


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One prestigious degree, two world-class business schools

The Kellog g-WHU Executi ve MBA Program based i n Germanyis a joint EMBA program between Americas Kellogg Schoolof Management at Northwestern Uni versity and GermanysWHU Otto Beisheim School of Management. The programfully embraces the business education expertise and interna-tional prestige of both schools and passes on the benefitsof its huge Global Network to its students, alumni and faculty.

Global learning at Kellogg-WHU The hig hly-ranked Kellogg-WH U EMBA Progra m combinesrequired core and advanced courses taking place at WHU inGermany with global electives taking place at one of the Kellogginternational hubs: Chicago, Miami, Hong Kong, Beijing, Toronto,and Tel Aviv. The faculty is composed of American and Europeanbusiness experts whose innovative ideas and extensive research

The Kellogg-WHU Executive MBA.Your Global Learning Hub.

Kellogg Executive MBA Global Network 45Insight into EMBA Courses 69Faculty Biographies 1013Entrepreneurship Development 1415Leadership/Personal/Career Development 1619Program Structure 2027Prole 26Calendar/Application/Course Descriptions Inserts

CONTENTare shaping global business education. The internationality of the

Kellogg-WHU EMBA Program is reflected in the diverse culturaland professional backgrounds of all its stakeholders.

Business coaching & leadership training The program aims to devel op managers into cros s-border andcross-functional leaders. To this end, leadership and personaldevelopment activities are fully integrated into the programscurriculum.

Building a lifelong network Once in the program, students become part of the Kellogg-WHUfamily and through the Kellogg EMBA Global Network are ableto make lifelong connections all around the world and networkwith business experts and advisors.

KELLOGG SCHOOL OF MANAGEMENTat Northwestern University,Evanston / Chicago, USA

WHU OTTO BEISHEIM SCHOOLOF MANAGEMENT

Vallendar/ Dssel dorf, German y

KELLOGG SCHOOL OF MANAGEMENT Miami Campus, USA

SCHULICH SCHOOL OF BUSINESSat York University, Toronto, Canada

RECANATI GRADUATE SCHOOLOF BUSINESS ADMINISTRATIONat Tel Aviv University, Israel

GUANGHUA SCHOOL OF MANAGEMENTat Peking University, Beijing, China

SCHOOL OF BUSINESS AND MANAGEMENT at Hong Kong University of Scienceand Technology, China

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As the global e conomy becomes increa singly complex, o rgani-zations need leaders who can build bridges across functions,sectors and countries. With our premier Executive MBA GlobalNetwork, Kellogg uniquely prepares executives with the skillsand insights they need to meet the demands of this rapidlychanging environment. Our distinctive partnerships with theworlds leading business schools, including WHU, give ourstudents a clear advantage: deep knowledge and experiencein leadership challenges and practices from around the worldcombined with rich, local expertise. Come join Kellogg andWHU, where we educate, equip, and inspire the next generationof transformational leaders.

WHU Otto Beisheim School of Management is pleased to bepart of a very unique global EMBA network thanks to its 17-year-long partnership with the Kellogg School of Management.

Through strong co llaborati on and k nowledg e sharin g amongall the Kellogg EMBA international partners, the Kellogg-WHUExecutive MBA Program is able to provide students with aworld-class business education, tools to become successfulleaders across borders, opportunities to make lifelong personaland professional connections, and the confidence to attain per-sonal development goals.

SALLY BLOUNT, 92Dean, Kellogg School of Management

MICHAEL FRENKELDean, WHU Otto Beisheim School of Management

A Growing Network The Kellogg E xecutive MBA Global Network welcomed a n ewpartner in February 2014: the Guanghua School of Managementat Peking University, one of the top academic institutions inChina. Starting in 2015, Kellogg-WHU EMBA students will benefitfrom the expanding international network.

Through the Gl obal Elective, Kell ogg-WHU EMBA students willhave added opportunities to experience management educationin mainland China and benefit from the Guanghua School of

Managements academic excellence. The Guanghua-KelloggGlobal Elective will focus particularly on the unique businesspractices and market dynamics in China.

Lifelong Global ConnectionsOnce you join the Kellogg-WHU EMBA Program, you will haveaccess through the Kellogg and WHU (InPraxi) Alumni Networksto 55,000 connections from 90 countries around the world. Thishuge Global Network offers our EMBA students access to greatcareer opportunities, experts advice, and the chance to giveback as an interviewer, guest speaker, or mentor, and participatein alumni networking events and conferences globally.

The Kell ogg Glo bal Netw ork trul ymakes the world your classroom.It gives you global content throughcore courses and an unparalleledarray of global electives. It givesyou global context. And, perhapsmost importantly, the Kellogg

Global Network gives you globalcontacts that you will leveragethrough out the course of yourcareer. You are not just getting adegree you are getting a life-changing experience.

DEZS J. HORVTH, PHD, CMDean & Tanna H. Schulich Chairin Strategic ManagementSchulich School of Business,

York Universit y

Hongbin Cai (Guanghua), Deszo Horvth (Schulich), Michael Frenkel (WHU),Sally Blount (Kellogg), Moshe Zviran (Recanati). Not pictured: Jitendra V Singh (HKUST)

Kellogg Executive MBA Global Network

The Kellogg Executive MBAGlobal Network.Your Global Advantage.

Local Knowledge. Global Expertise.

You need local knowledge to bring about globalexpertise. The Kellogg Executive MBA GlobalNetwork offers students the opportunity tolearn at seven different campuses around theworld. You will learn from renowned local fac-ulty with specific expertise in those regions,alongside students who are from those regions.

This immersi on provides stude nts with a deepunderstanding of local markets.

In addition, our Network students come to-gether, from all seven campuses, once per yearto learn together at Kellogg.

These dynamic i nteractions create a gl obalexpertise that is truly based upon knowledgeand experience with local markets.

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Insight into EMBA Courses

Your Global Classroom.

about them. I share key insights and great marketing tools relat-ed to luxury brand management and also invite big shots fromthe luxury industry to speak to students about their marketingstrategies.

Britt, what are the takeaways from the Luxury BrandManagement class and Kellogg-WHU classes in generalthat you could easily apply in your current position?

For me, the Kellogg-WHU EMBA Program has been a fantas-tic experience. I particularly learned a lot about leadership andstrategy. In my opinion, the most effective leaders are facilitators/orchestrators who align people around a greater goal. It is onlywhen you manage to create passion within your team to followa vision that you can truly become an effective leader.

Kellogg-WHU EMBA participants have very diverse backgroundsand management experiences and come from all over the world.

Thanks to clas s discussi ons and extens ive group work we a lllearn a lot from each other and thus through these interactions,we become better leaders. For me, this is what makes theKellogg-WHU EMBA Program truly unique: the opportunity toimprove our leadership skills through student diversity andworld-class teaching.

Britt and Professor Fassnacht, what do you both think the major tr ends and ch allenges are f or the market ing func tion?

BRITT: One of the major trends for me is that the marketing func-tion is becoming increasingly consumer insights-driven. If youdont understand the hearts and minds of consumers and cantconnect with them on a personal level, you wont be able tocreate a long-lasting relationship between them and your brand.It is no longer enough to ask people what they want out of acertain product; to connect with them we need to understandwhat they want out of life.PROFESSOR FASSNACHT: Indeed, youve got to be more con-cerned with the consumer because, to put it very simply,consumers are generating most of a companys revenues andcontribute greatly to making the business successful.BRITT: Another major trend i s of course th e internet and on linemarketing. Consumers today are exposed to an increasing

Professor Fassnacht, what has been your experience teaching the Luxury Brand Manageme nt cla ss to Kellogg-WHUEMBA students?

I have been teaching the Kellogg-WHU EMBA class for the pastthree years. I have to admit, the EMBA students are very atypicaland unique, and they all have very diverse backgrounds, natio-nalities, functions, industries, and educations. Kellogg-WHUEMBA students in general, and even more so the non-Europeanstudents, usually find the Luxury Brand Management coursevery attractive because luxury brands and products are more of

what I would call a European thing. It is therefore very excitingfor me to teach this course because EMBA students becomecurious and enthusiastic about the subject very quickly.

The Lu xury Br and Manage ment clas s is a kind of marketingcourse taken to extremes. In this course, students get inspira-tion, which they can use in their various industries and functions.

They learn, for i nstance, how to emoti onalize their pro ducts: avery important aspect in reaching the hearts and minds of con-sumers. Luxury brands are quite specific and my goal with thiscourse is to familiarize EMBA students with what is so specific

number of screens in their l ives: mobile phones, computers,tablets, digital billboards, and of course televisions. They canconnect with their brand directly through multiple channels atany time. However, many senior marketing managers and de-cision-makers only grew up with TV marketing, and while theyare experts in this field they sometimes struggle in the digitalworld. This can make it challenging to connect with consumers.Nevertheless, the digital revolution is very exciting as it alsoallows for many great opportunities to learn more about your

consumers in real time.PROFESSOR FASSNACHT: Youre absolutely right, companie stoday have the opportunity to get more information about thebuying behavior of consumers resulting in more complex andaccurate statistics, but when I talk to senior marketing managersabout digital marketing, they admit that despite all these greattools, some expectations are still not met.

Do you have questions for Britt Zimmermann and Professor MartinFassnacht? Contact us: [email protected] and well put yo u in touchwith them.

The Luxury Brand Man age mentclass is a kind of Marketingcourse taken to extremes

MARTIN FASSNACHTProfessor of Marketing and Chair of Marketing and Commerce,WHU Otto Beisheim School of Management

BRITT ZIMMERMANN, EMBA 2014Marketing Manager, Novartis Consumer Health,Basel, Switzerland

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Tiberiu, the Kellogg-WHU EMBA Program is a joint-degree program, what ar e for you the benefit s of a joint-d egree program?

TIBERIU: One big advantage is that you are exposed to differentcultures. If you look at the world right now, most conflicts revolvearound cultural misunderstandings. The Kellogg-WHU EMBAProgram provides you with a safe environment where you canbetter understand what other cultures motivations are. When

you have the opportunity in a class to interact with people withdifferent cultures and backgrounds, this helps you build yourcase when you go back to your company, even more so if youwork for an international company.PROFESSOR CALKINS: The Global Network is al so really uni queand different. You get these classes where you have a greatmix of students from Germany, China, the Middle East; they allbring a slightly different perspective to the class. The best partis observing how they work together on various projects.TIBERIU: Youre absolutely ri ght. I was actu ally reall y impressedthis week here in Evanston by the quality of teamwork. At thebeginning you expect that people will disagree and argue all thetime, but in fact, you realize that everyone on the team has anopen mind and strives for collaboration.

Professor Calkins, do you have a favorite anecdote related toteaching in the Kellogg-WHU EMBA Program?

PROFESSOR CALKINS: I like to use cases because I think theybring everyone together around a single issue. One of the casesI really like teaching is the Marlboro Friday case, which wasgreat for me this year because Tiberiu had great insights intothe company and background into the situation. And thats thebest part of my job, when you bring in a case study to class andfind out that there is a student who has a direct connection to itand can bring it to life. For me, its great because I keep learningmore and more about the situation, the company and the play-ers. And I think it makes it valuable for the students becauseits not just a theoretical exercise, it is actually grounded in realbusiness challenges that people are facing.

Professor Calkins, as a now full-time professor, how do you keep connec ted to the co rporate world? How do you inte- grate your ex tensive and imp ress ive pr ofessio nal ex perien ce into your teachin gs?

PROFESSOR CALKINS: I always make sure the concepts we talkabout in class are relevant and have an impact in corporatesettings. My background is quite unique because I come outof industry. I spent 10 years at Kraft Foods before joining theacademic world. This gives me grounding in the practical side ofthings and a better understanding of the messiness that some-times comes up when you try to implement those ideas. In ad-dition, I regularly advise companies all over the world on variousstrategy projects. I love doing that because you really see whatpeople are working on, what they are struggling with, and youreconstantly updating and refining your own ideas.TIBERIU: This is ex actly what gives you credibilit y. Looking backat the course you taught in Germany, you didnt just teach the-ory, you more importantly brought your corporate experience tothe classroom, which was extremely valuable for us.PROFESSOR CALKINS: I think thats really important because ifyoure not out there with companies to a certain degree, you riskthat the concepts you teach become plain theories that peoplecant apply at work in the practical sense.

Professor Calkins, you often travel to Germany to teachKellogg-WHU EMBA students, what do you think makesthe Kellogg-WHU partnership so unique? What are the bestthings about teaching in this pr ogram?

PROFESSOR CALKINS: The best thi ng about thi s program is thewonderful mix of students from all over the world, which makesthe class discussions really entertaining for both me and thestudents. What I find fascinating with the Kellogg-WHU EMBAProgram is that you can really see how the concepts we teachplay out in different parts of the world.

Tiberiu, as a current student, what immediate benefits fromthe Kellogg-WHU EMBA Program can you already perceive

in both your p erson al and profes sional life?

TIBERIU: When you start this program you are a s pecialist. Youalready have expertise in your field. But once you step throughthe EMBA door, you realize that there is more out there, that youneed to connect the dots if you want to progress. And this abilityto go from specialist to generalist is what the program gives you.

TIBERIU: And with the Marlb oro case, i t is act ually t he type ofdefensive strategy we are applying every day in my company,but before taking your class, I wouldnt have been able to putthis strategy into a framework. Having a framework and takingthe time to really reflect on the situation is extremely helpful.

Professor Calkins, what advice do you have for Tiberiu, whos about h alf way through the EMBA Program?

PROFESSOR CALKINS: My advice is to learn as much as you canabout topics that arent your strengths. I always tell my studentsto take electives and courses in areas that are not familiar to them.So for instance, if you come in with a lot of marketing and FMCGexperience, then my advice to you would be to take courses infinance or organizational dynamics, areas that are not in yoursweet spot. As the years go by you will get tons of experience inmarketing and FMCG because thats what you do every day. Butyour only opportunity to really capture some of these other topicsis when youre in a program like this.TIBERIU: Very tru e. Our compa ny at thi s stage moves cros s-functionally: from marketing to business planning, from finance tooperations, to sales, etc it is cruci al to be able to move cross-functionally and it is actually a requirement for future managers togrow within our company. Even outside the company, it will showthat you are not just able to move vertically but also horizontally.PROFESSOR CALKINS: What this kind of program also gives youis the confidence to dive into some of these roles. You learn thelanguage, the frameworks, the calculations that you need sowhen you go into those different roles, you can be successful,have an impact, and keep moving forward.

The other a dvice would be to really focus on th e relation ships

because the connections you make and the relationships youbuild while youre here can last for many years. But with a hugeglobal network like this, that can take some effort. So, youvegot to make sure once you meet someone in the program, thatyou keep in touch, and that you build on the spark that this globalnetwork creates.

Do you have questions for Tiberiu Toader and Professor Tim Calkins?Contact us: e [email protected] and well put yo u in touch wi th them.

Insight into EMBA Courses

Your Lifelong Imprints.

TIBERIU TOADER, EMBA 2015Manager Commercial Planning, Philip Morris International,Oslo, Norway

TIM CALKINSClinical Professor of Marketing,Kellogg School of Management

Build on the sparkthat this globalnetwork cre ates.

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Faculty Biographies

Your Professors.

GAD ALLONGad Allon is Professor of Managerial Eco-nomics and Decision Science at Kellogg.He received his PhD in ManagementScience from Columbia Business School.Professor Allon is a student favorite atKellogg. He is considered an authority onservice operations, maintaining a popularindustry-focused blog called The Opera-tions Room. In 2011, Poets & Quantsnamed Allon one of The Worlds 40 BestB-School Profs Under the Age of 40.

Areas o f Expe rtiseResponse Time Management,Service Management

CHRISTIAN ANDRESChristian Andres is Professor of EmpiricalCorporate Finance at WHU. He holdsa PhD in Finance from the University ofBonn.Professor Andres used to work for the taxand audit industry. As an academic, hehas also been active in consulting in theareas of Corporate Finance and CorporateGovernance for almost 10 years. Andresis also co-founder and academic advisorof a small software company.

Areas o f Expe rtisePayout Policy,Executive Compensation,Family Firms

DAVID AUSTEN-SMITHDavid Austen-Smith has been Professorof Corporate Ethics and Political Scienceand Economics at Northwestern Uni-

versity since 1996. He received his PhDfrom Cambridge University.Professor Austen-Smith has co-authoredtwo volumes on Positive Political Theory.In 20052006 and 20072008, he was therecipient of the Sidney J. Levy Award for

Teaching Excellence at Kellogg.

Areas o f Expe rtiseEthics, Political Economy/Design,

Voting Systems

MALTE BRETTELMalte Brettel is Professor of Business

Administration an d Entrepreneurshi p atWHU. In addition to his academic career,Professor Brettel is a serial entrepreneur.

He founded several companies and partlyserved as managing director.

According to the German publicationHandelsblatt, Brettel is considered oneof the most active researchers in entre-preneurship.

Areas o f Expe rtiseEntrepreneurial Management,Entrepreneurial Marketing,Entrepreneurial Finance,Innovation Management

TIMOTHY CALKINS Tim Calk ins is Clinic al Profess or ofMarketing at Kellogg. He received hisMBA from Harvard.Professor Calkins has received numerousteaching awards. The Kellogg EMBAProgram gave him the Top Professor

Award four ti mes.He is the author of Defending Your Brand:How Smart Companies Use DefensiveStrategy to Deal with Competitive Attacksand has published more than a dozenKellogg case studies.In addition to teaching, Calkins works withmajor corporations around the world onstrategy and branding issues.

Areas of Expe rtise Advertising, Biomedical Marketing,Brand Management, MarketingStrategy/Planning/Policy

JAMES G. CONLEY James Conley serves on the faculty ofboth the Kellogg School of Managementand the McCormick School of Engineeringat Northwestern University.Before joining Northwestern in 1994, hespent seven years at the Ryobi LimitedGroup of companies in Japan with man-agement responsibility in product en-gineering and product development. In1994, Professor Conley founded SyndiaCorporation.

Areas of Expe rtiseBrands and Trademarks, InnovationIntellectual Property, New ProductDevelopment

HOLGER ERNSTHolger Ernst is Chair and Professor of

Technology and Innovatio n Managementat WHU. He is also a regular visitingprofessor at Kellogg. He received hisPhD from the University of Kiel, Germany.Professor Ernst has 16 years of expe-rience in executive education. He hastaught in various EMBA programs andadvises corporations worldwide.

Areas of Expe rtiseStrategy, Innovation, New ProductDevelopment, Intellectual Property

MARTIN FASSNACHTMartin Fassnacht is Chair and Professorof Marketing at WHU. He is also strategicadvisor for consumer goods manufactur-ers, retailers and service companies.Professor Fassnacht studied business ad-ministration at the University of Mannheimand holds a PhD from the JohannesGutenberg University in Mainz.

Areas o f Expe rtisePrice Management, Retail Marketing,Brand and Luxury Brand Management,Market-oriented Corporate Management

TIMOTHY FEDDERSEN Timothy Feddersen holds a PhD from the

University of Rochester and is Professor ofManagerial Politics as well as the Directorof the Social Enterprise at Kellogg (SEEK)Program. Professor Feddersen teachesthe Strategic Crisis Management courseat Kellogg-WHU which focuses on the wayleaders must anticipate the reaction ofstakeholder groups within the firm, in themedia, in legislatures, courts, and in publicopinion broadly.

Areas o f Expe rtiseCorporate Social Responsibility, CrisisManagement, Public Management,

Voting Systems

MICHAEL FRENKELMichael Frenkel is Dean and Chair ofMacroeconomics and InternationalEconomics at WHU.He received his PhD from the University ofMainz, Germany. His extensive internationalexperience stems from working for severalyears with the International Monetary Fundand from visiting positions he held inter-nationally. Between 1994 and 2002, heserved as Associate Dean of InternationalPrograms at WHU and built up an exten-sive network of global partner universitiesmaking WHU the German business schoolwith the biggest international student ex-change network.

Areas o f Expe rtiseEuropean Integration,Economic Growth,Development Economics

JULIE HENNESSY Julie Hennessy is Clinical Professor ofMarketing at Kellogg. Her teaching focuseson the development of marketing strate-gies to enhance long-term competitive ad-vantage and profitability.What students say about professorHennessy is that she cares a lot, is veryapproachable, funny and energetic, and

that she challenges students and teasesout the responses that facilitate learning.Not surprisingly, Hennessy has been aregular recipient of many teaching awardsat Kellogg.

Areas o f Expe rtiseBrand Management,Consumer Products,Marketing Strategy/Planning/Policy,New Product Development

CHRISTOPH HIENERTHChristoph Hienerth is Professor and Chairof Entrepreneurship and New BusinessDevelopment at WHU. He holds a PhDfrom WU Vienna.Professor Hienerths research and teach-ing has won several awards. He hasgained expertise in corporate entrepre-neurship through industry projects withinternational companies. He has also ad-vised governmental institutions in manycountries.

Areas of Expe rtiseEntrepreneurial Risk and Uncertainty,Corporate Entrepreneurship,Social Entrepreneurship

MARTIN HGLMartin Hgl is Professor and Head of theInstitute for Leadership and Organizationat Ludwig Maximilians University (LMU)in Munich. Before joining LMU, ProfessorHgl served on the faculties of WHU Otto Beisheim School of Management,Washington State University (USA), andBocconi University (Milan, Italy). He holdsa PhD from the University of Karlsruhe,Germany.Professor Hgl has conducted researchprojects with major firms in the US and

Europe. He has received multiple awardsfor teaching and research, including theStudents Choice Award for Excellencein Teaching (from Washington StateUniversity students).

Areas of Expe rtiseLeadership and Collaboration inOrganizations, Management of R&DPersonnel, Knowledge Creation inInnovation Processes

In the tradeoff betweenbeing liked and being

prepared, I chose thelatter. Gad Allon

Global electivesaddressing emergingtopics such as proper-ty facilitate rigorousexploration of man-agement challengesand opportunities thatleverage the diversetalents of the Kellogg-WHU EMBA partici-pants. James Conley

Thi s pr ogra m pr ovid es avery stimulating platformfor discussing and wor-king on innovative ideas. Holger Ernst

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THOMAS HUTZSCHENREUTER Thomas Hu tzsche nreuter i s Profess orand Chair of Corporate Strategy andGovernance at WHU. He regularly pro-vides his expertise to companies andorganizations in various industries.

Areas o f Expe rtiseStrategic and International Manage-ment, Growth Strategies and PortfolioChanges, Offshoring and BusinessProcess Outsourcing

LAKSHMAN KRISHNAMURTHILakshman Krishnamurthi has been a pro-fessor at Kellogg since 1980. He holds aPhD in Marketing from Stanford University.Professor Krishnamurthi teaches Marke-ting Strategy & Pricing in a variety of pro-grams at Kellogg.In addition to his teaching and researchactivity, he has consulted and conductedexecutive education seminars for manybig corporations around the world.

Areas o f Expe rtise

Brand Management,Business to Business Markets,International Marketing,Marketing Research

THORSTEN SELLHORN Thorsten Sellhorn is professor of Account-ing at Ludwig Maximilians University(LMU) in Munich and holds a PhD fromRuhr-Universitt Bochum, Germany.

Areas o f Expe rtiseInternational Financial ReportingStandards (IFRS), Earnings Qualityand Earnings Management,Empirical Accounting Research

BROSH M. TEUCHERBrosh M. Teucher is a visiting AssistantProfessor of Management and Organi-zations at Kellogg. He holds a PhD inBusiness Administration from the Universityof Washington, WA.His research focuses on the impact ofnational culture and individual factors onnegotiation and dispute resolution pro-cesses and outcomes. He also studiesthe impact of organizational culture onstock prices.

ADAM WAYTZ Adam Waytz i s Assi stant Profe ssor ofManagement and Organizations.He holds a PhD in Social Psychology fromthe University of Chicago, and completeda post-doctoral fellowship at HarvardUniversity.Professor Waytzs research uses methodsfrom social psychology and cognitiveneuro science to study the causes andconsequences of perceiving mental statesin other agents and to investigate pro-cesses related to social influence, socialconnection, and ethics. In 2008, Waytzreceived the Theoretical Innovation Awardfrom the Society for Personality andSocial Psychology.

Areas of Expe rtiseEthics, Intergroup Behavior,Social Media

JRGEN WEIGANDJrgen Weigand is Chair of Microecon-omics and Industrial Organization atWHU. He holds a PhD in Economics fromthe University of Erlangen-Nrnberg,Germany.Professor Weigand worked as Senior

Advisor for the CPB Neth erlands Bureaufor Economic Policy Analysis. He has alsoadvised various international blue-chipcompanies.Weigand is Academic Director of theWHU Post-Experience Programs. Since2004 he has also served as a memberof the Academic Council of the CEIBS,Shanghai.

Areas of Expe rtiseIndustrial Economics, BusinessStrategy, Competition Policy

PETER WITTPeter Witt holds the Chair of Technologyand Innovation Management at theUniversity of Wuppertal. From 2000 to2006, he was professor of Entrepreneur-

ship at WHU.Professor Witt has been running executiveeducation programs with major interna-tional corporations for more than 17 years.He has also done consulting work in thefields of strategic management, innovationmanagement and corporate governance.

Areas o f Expe rtiseEntrepreneurship, Family Businesses,Innovation Management

LEIGH THOMPSONLeigh Thompson is Professor of DisputeResolution & Organizations at Kellogg.She is the Director of the Kellogg Teamand Group Research Center and theKellogg Leading High-Impact TeamsExecutive Program.Professor Thompsons research focuseson negotiation skills and strategies, teamcreativity, and learning. She has authoredsix books.

Areas o f Expe rtiseCross-Cultural Negotiations,Group Decision-Making,Leading High-Impact Teams

THORSTEN TRUIJENS Thorsten Truijens has taught at the Uni-versity of St. Gallen si nce 1995. He holdsan MBA degree from the University ofNorth Carolina at Chapel Hill and a PhDfrom the University of St. Gallen.He is currently managing partner of aconsulting firm specializing in financialmanagement. His previous work experi-ence includes management positions inthe automotive industry and extensiveconsulting work in the pharmaceuticaland logistics industry.

Areas o f Expe rtiseProduct Costing, Profitability Analysis,

Value-Based M anagement, Finance

JAN A. VAN MIEGHEMJan A. Van Mieghem is Professor ofManagerial Economics and OperationsManagement at Kellogg. He also servesas Academic Director of the EMBAProgram. He received his PhD in Businessfrom Stanford University.He is the author of over 30 academicarticles published in leading journals, andof two textbooks. His paper co-authoredwith Marty Lariviere received the firstMSOM Best Paper Award in 2007.

Areas o f Expe rtiseCapacity Management,Operations Strategy,Supply Chain Design and Management

KEITH MURNIGHANJ. Keith Murnighan has been Professor ofRisk Management at Kellogg since 1996.He earned his PhD in Social Psychologyfrom Purdue University. He teaches inKelloggs EMBA Programs around theworld. He is also an active consultant andtrainer and has worked with several majorcorporations.Professor Murnighan has received nu-merous awards including the Top FacultyMember Award from the Kellogg-HKUSTEMBA Program.His latest book Do Nothing! How to StopOvermanaging and Become a GreatLeader has been translated into severallanguages.

Areas o f Expe rtiseDiversity, Group Decision-Making,Negotiations, Risk Management

ARTUR RAVIV Artur Raviv has been Professor of F inanceat Kellogg since 1981. He holds a PhD inManagerial Economics from Northwestern

University.Professor Raviv was Associate Editor ofthe Journal of Finance from 1989 to 2000and served on the Board of Editorial

Advisors for the J ournal of Account ing, Auditing, and Fin ance and the Jou rnal ofEconomics and Management Strategy.Raviv was named Outstanding Professorof the Year 18 times by the graduates ofthe Kellogg Executive Masters Programssince 1983.

Areas o f Expe rtiseCorporate Finance, InvestmentBanking, Mergers and Acquisitions

MOHANBIR SAWHNEY Mohanbir Sawhney is a globally recog-nized scholar, teacher, consultant, andspeaker in business innovation, technol-ogy marketing, and new media. He holdsa PhD in Marketing from the WhartonSchool of the University of Pennsylvania.Professor Sawhneys most recent bookFewer, Bigger, Bolder: From MindlessExpansion to Focused Growth will bepublished in 2014.He has been nominated for the Out-standing Professor of the Year at Kelloggin 2008 and 2009.Professor Sawhney advises and speaksto Global 2000 firms and governmentsworldwide. He also serves on the boardsand advisory boards of several technologycompanies.

Areas o f Expe rtiseEntertainment Marketing, High-TechMarketing, Media Marketing

KARL SCHMEDDERSKarl Schmedders is Professor of Quanti-tative Business Administration at theUniversity of Zrich. In addition, he isvisiting Professor of Executive Educationat Kellogg. He holds a PhD in OperationsResearch from Stanford University.Professor Schmedders has been namedto the Faculty Honor Roll in every quarterhe has taught at Kellogg. In 2002, Hereceived the Lawrence G. Lavengood Out-standing Professor of the Year. Schmed-ders is the only Kellogg faculty member toreceive the Honorary Medal of WHU.

Areas o f Expe rtiseData Analysis, Economic Theory,Risk Management

SCOTT SCHAEFERScott Schaefer has been Professor ofFinance at the University of Utahs DavidEccles School of Business since 2005.Prior to that, he spent ten years on the

faculty of Kellogg. He holds a PhD inEconomic Analysis and Policy from theStanford Graduate School of Business.Professor Schaefers research focuses onthe economics of organization, with anemphasis on understanding employmentrelationships and decision-making insidefirms. He has written extensively on exec-utive compensation, use of stock optionsin compensation, and the labor marketeffects of employment protections. He re-ceived Kelloggs Sidney J. Levy Teaching

Award three times and was a four-timefinalist for the Lawrence LavengoodProfessor of the Year Award.

Kellogg-WHU students areconsistently great contributorsto Kellogg global programcourses. They are committed,smart and focused on learninghow to win. They always thrivein diverse team environments.Julie Hennessy

I cherish my classroomtime with the EMBA

students. I am alwaysamazed by the breadthof experiences and depthof knowledge they sharewith me and their peersin class. Karl Schmedders

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SHERRY: I run a luxury furniture website where we curate thebest in luxury furniture. We stage our furniture in a way to makeit look beautiful, we film it, take pictures of it like a magazinedoes with fashion. Our website is basically like shopping in aneditorial magazine.

FRANK: I am currently wrapping up a new business, which Istarted last November. The business is about building up B2Bmarketplaces in the Cloud computing area. We have purchasedpremium domains in Europe for our international expansion.Up until now, Ive founded about 1015 start-ups almost all inthe e-commerce area.

How did you become entrepreneurs? When you started yourEMBA, did you know that you wanted to be an entrepreneur ?

SHERRY: My first motivation to join an EMBA program was jobsecurity. Sometimes if you dont have that kind of stamp of edu-cation on your CV, it is hard for people to realize that you areactually smart. The EMBA was also a new challenge for me; Iwanted to see how far I could go, what I could accomplish whileparticipating in this intense program working full-time and com-muting every month. I think the EMBA was just a channel for myentrepreneurial drive. It wasnt until much later after the EMBA,when I had more financial freedom, that I started thinking abouthaving my own business. The EMBA also gave my investors andpeople around me reassurance that they were investing in some-one who could demonstrate those kinds of accomplishments.

FRANK: Growing up, I was always very proactive, running aroundlooking for the next business opportunity. After college, I startedworking in management consulting. Later on, I decided to dosomething about my personal and professional development soI joined the Kellogg-WHU EMBA Program. This time was quitechallenging. Sherry, you mentioned that you were commuting allthe time It was the same for me. I was working on consult-ing projects Monday through Friday in London, New York, andall over Europe. When my colleagues from the consultancy weresitting at the bar on Friday night, I was sitting in a classroomdoing business cases!I had already been thinking about starting my own business evenbefore the EMBA, but the Kellogg-WHU EMBA Program gave methe final boost to go out there and do my own thing. I also tookadvantage of all the tools Kellogg-WHU provided to entrepreneur-

wannabes like me: I took entrepreneurship courses, attendedspeaker series, and joined the WHU IdeaLab (incubator).

Did you guys seek any help from people in the Kellogg-WHUEMBA Program and the global alumni network?

SHERRY: What the EMBA provided me with was the confidenceto go out there and ask for help from multiple people. When Iwent to do my own business, 10 years after the EMBA, it tookme about five years to develop the idea, get funding, havemy business up and running, and have a clear concept. So itsbeen a long journey but I think that the resistance and endur-ance you acquire when you do an EMBA takes your pressure,intensity, workload up to another level. Because you alreadyhave work ethic and drive, you are able to become a successfulentrepreneur.

FRANK: For me, doing business without a working network is notpossible. Networking is crucial in entrepreneurship. I used theKellogg-WHU Global Network for my first start-up when I needed

staff in India and Hong Kong. After attending the global electivein Hong Kong, I managed to get some contacts in India throughthe connections I made there. This aspect is a major asset ofthis program and I can testify that the Kellogg-WHU Global Net-work really works. I usually talk to everybody, it is extremelyimportant to listen to experts. I then transfer this know-how intomy business and try to get the most out of it.

What advice would you give to someone who is thinking about goi ng into entrep reneur ship?

FRANK: With my first start-up, I put everything I had in my bankaccount into the business. So you need money to start off with-out a doubt. Later on, I tried to figure out how I could ramp upthe business on a much faster scale. I managed to raise my firstmillion euros thanks to a bunch of angel investors. I then neededadvisors who could help me develop my business because atthe time, I didnt have any expertise in the e-commerce/internetspace. Thats when one of the Rocket Internet founders camealong. After meeting him in person at a WHU Entrepreneurshipevent, I wrote him an e-mail with exactly two lines explaining my

ideas. Fifteen minutes later I got a response asking to meet inMunich at a specific date and time. Two days later, he was in-vesting in my first company.For the last five years, I have used the Kellogg-WHU alumninetwork extensively. The network is composed of a lot of in-vestors and advisors. When you send these investors/advisorsyour business proposal, my advice is to make your messageas concise and interesting as possible. Last hint: the subject lineKellogg-WHU alumnus needs support has worked miraclesfor me!

Do you have questions for Sherry Roberts and Frank Mueller?Contact us: [email protected] and well put you in touch with them.

The entrepreneuri al spirithas been in WHUs DNAsince its inception andtranspires through the stu-dents it educates. Everyyear WHU produces someof the most successfulintrapreneurs , those whothink and act creativelyin the name of the com-panies they work for, andentrepreneurs, those whowant to implement theirideas within their ownbusinesses.

Many opportunitiesexist on campus for theentrepreneur-wannabesout there:

Curriculum: Foundations of

Entrepreneurship/TheEntrepreneurial Journey

Conferences:IdeaLab!, Europes pre-mier student-led found-ers conference, whichtakes place on cam-pus every year, bringstogether experiencedfounders, venture capi-talists, investors as wellas ambitious studentslooking to exchangeideas and experiences

3Day Start-up: 40creative students, threedays, one goal: startyour own company

WHU Incubator: A ce ntral star tin g po intfor students seeking tostart a venture

Master Thesis: Many students choose

to write a business plan

Entrepreneurship @ WHUEntrepreneurship Development

Your Entrepreneurial Outlet.

The Ke llo gg-WHU EMBAProgram gave me the finalboost to go out there and

do my own thing

SHERRY ROBERTS, EMBA 2002CEO, The Longest Stay, London, UK

CURRICULUM

WHUINCUBATOR MASTER

THESIS

CONFERENCES

Many well-known and successful start-ups areevidence of the WHU entrepreneurial drive:

FRANK MUELLER, EMBA 2005Managing Director, Cloud world AG, Pfffikon, Switzerland

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SHARAM: I think most of us expected leadership developmentand personal development to be mutually exclusive. But onceyou go through that transformation, you realize that the two arevery much intertwined. This connection is what makes you ap-pear authentic as a person and as a leader. And it is the powerof this authenticity that builds trust and interconnects you withyour team. Trust is what you need as a leader for you to mobi-lize others effectively and navigate them successfully through thechange process, which is of upmost relevance in such a com-petitive and complex environment.DANIEL: Youre absolutely right; people dont w ant to work for a

jerk! Character starts to matter at the senior level and if you wantyour team to really be passionate about working for you, youneed to start reflecting on yourself.

SHARAM: There are three key takeaways for me: 1) it is true thatpeople dont leave companies, they leave bosses; 2) I believe thatyou have become a successful leader when you have reachedthe point where people leave you because you have developedand prepared them successfully for their next career move,ideally within the organization; and 3) its all about consistencyand commitment! What is true for a strategy definition is alsotrue for how you should be perceived as a leader, not only withinyour team but also within the organization: be consistent andcommitted in what you say and how you act!DANIEL: That is exactl y what a good and authentic leader needsto strive for. Successfully developing your people is the highestpoint in leadership and personal development. I also stronglybelieve that this behavior can easily be spread within a company.People really enjoy working for that kind of philanthropist leaderwho wants to help others develop their talents so that the wholecommunity can benefit from it.

DANIEL WENINGER: Sharam, what did you do before theEMBA and how did the EMBA impact your professional

journey ?

SHARAM SADEGHI: I joined the program with a sales & market-ing background within the consumer goods industry lookingto broaden my functional expertise. My other goal was to geta deeper understanding and awareness of where I stand as aleader, and where/how I could improve my leadership skills todrive change and improve the performance of my team andorganization.

The EMBA provided me with the practical tool s and insi ghtsI could successfully utilize and implement at work in real time.But for me, the most relevant impact happened through thepersonal and leadership development process, which was anintegral part of the program most of it tangible, providing key

assets such as personality assessments, business coachingsessions, outdoor leadership training, etc the other part intan-gible, such as the priceless advice and discussions withexperienced senior classmates.

How are leadership and personal development linked?What do they have in common?

DANIEL: There is no l eadership development without pers onaldevelopment. And Sharam, you mentioned that developing your-self was a conscious decision for you: leadership developmentactually starts with that kind of self-awareness. You need to firstunderstand yourself as a person in order for you to developfurther . If you have this attitude from the get go, everything elsewill fall into place.

Sharam, at which stage of your personal and leadershipdevelopment are you today?

SHARAM: Before I joined the program, I wanted to learn how tobecome a better leader and find out what better truly meant.I wanted to know how others perceived me, how to keep peoplemotivated, how to embrace their hidden potential to performat their best, and so on. Once I went through the program andbenefited from all the great tools such as personality assessmentsand coaching sessions, I really got to know about myself and mymanagerial style. I have also learned a lot from the 360-degreefeedback I received from my team members with whom I hadbeen through good and tough times during the first 12 monthsof the program.DANIEL: Team work is indeed extre mely challengi ng!SHARAM: Today, I understand my personal development as aconstant personal change management program, so-to-speak.Its about self-awareness and constant reflection; its aboutopenness to external feedback and the willingness to improveconstantly. In a dynamic economic situation where companiesface fierce competition, change is the main constant within dailybusiness. Thus navigating your team successfully within thatchange process and keeping or even improving the organizationalperformance are becoming key success factors for a leader.

Do you have questions for Sharam Sadeghi and Daniel Weninger?

Contact us: [email protected] and well put yo u in touch wi th them.

Leadership/Personal/Career Development

Your Inner Coach.

Today, I unders tand mypersonal development as aconstant personal changemanagement program

DANIEL WENINGER, WHU MBA 2012Head of Learning & Development, WHU Center forResponsible Leadership

SHARAM SADEGHI, EMBA 2012Head of Consumer Marketing Customer Base & LoyaltyManagement, Vodafone, Dsseldorf, Germany

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BETTINA BODENSCHATZLeadership Coach since 2008 (G, E)

Head of E-communications, SITA

Global Director RegionalMarketing, SITA

Global Key Account Management, T-Systems and Xerox

KERSTIN KNFELLeadership Coach since 2006 (G, E)

Vice President HR, Deutsche Telekom AG

Head of Corporate ManagementDevelopement, MCC Int.

Head of HR, mid marketconsulting company

Leadership Experience in Consultingand Recruting, Accenture

KARSTEN DRATHLeadership Coach since 2006 (G, E)

Managing Director Consulting, Dell

Managing Director EMEA,Perot Systems

Director Bombardier Transportation

Leadership/Personal/Career Development

Your Leadership &Personal Development.

Business Sparring.

The Kellogg-WHU EMBA Program re gularly updates its leader-ship & personal development activities to reflect new trendsin executive coaching. Managers today are expected to makecollaborative decisions and provide inspiration to their teams.For that, they need to first understand and develop themselves.

The Kellogg-WHU l eadership & perso nal development team i s

there to guide you through this transformational journey.

Personality Profile & 360 Feedback Participate in personality assessments based on the so-calledbig five (Workplace Big Five) personality traits considered themost valid and reliable in psychology.Receive open feedback from your peers and evaluate the effec-tiveness of the methods suggested during personality assess-ments and business coaching sessions.

Development Workshops Attend works hops on per sonal devel opment & goal s, work-lifebalance, business communication, career development, andpost-EMBA transition.

Group Supervision

Teams are observed by busin ess coaches w ho will as sess groupdynamics, individual roles, and team performance, and thenprovide feedback to the whole team.

Outdoor Training The outdoor leadershi p trainin g offers h ands-on expe rience in aunique and challenging environment. Adapted to the physical fit-ness level of each participant, this training will test teambuildingand leadership abilities under all circumstances.

Meet some of the business coaches who will accompany you throughout the program:

GEORG KNOTHCEO, GE Technology

PAUL POLMANCEO Unilever

DR. KARL-LUDWIG KLEYChairman of the Executive Board,Merck KGaA

The Kellogg-WHU EMBA Program u nderstands th e importance of h aving a busine ss coach providesupport during these exciting but challenging times. Our business coaches can help you with topicssuch as personal goals, work-life balance, professional development, and team-related issues.

Your ProfessionalDevelopment.Professional development is deeply ingrained in the Kellogg-WHU EMBAculture and facilitated by its student body composed of top-notch execu-tives, business experts, and advisors, its faculty and global alumni network.Below are some of the corporations represented in the classroom:

In addition, our students have the opportunity to connect with global busi-ness experts and advisors and learn from experienced leaders through ourGuest Speaker Series, which are fully integrated into the curriculum as wellas through the WHU SEE (Senior Executive Experience) Series. The goal

of WHU SEE is to invite high-profile executives to the school to share theirpersonal and professional experiences with our EMBA students. Below is aselection of our past guest speakers:

HENRIK JOHNDirector MarketingPorsche Design Group

VLADI MIR SALA KHUTDINOVCEO at American Express BankLLC Russia

NICO BUCHHOLZExecutive VP Fleet Management,Lufthansa Group

Lifelong Learning Advantage

Through our L ifelong Learn ing program,our alumni are welcome to come backto WHU campuses to take part in a cur-rent EMBA course or attend a moduleat one of our partner institutions all overthe world at any time after graduationand at no additional tuition fees. This isa great opportunity for our former EMBAstudents to get a fresh perspective, newbusiness inspirations, and make newconnections.

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How do you select these candidates?

HANNE: It is important for us to meet candidates on a personallevel. Once theyve been pre-selected, candidates are invited toour campus for an interview and thats when we get to meet themfor the first time. During the interview process, we assess candi-dates on various criteria: they have to show motivation, readinessfor an additional challenge in their lives, and analytical skills.

Professor Weigand, what are the main objectives of thecurrent curriculum?

PROFESSOR WEIGAND: All of our participants are managers w hohave been trained to get things done. What we want to accomplishwith this program is to develop them into leaders who are able toapply advanced frameworks/tools of analysis and who have a broadperspective on things. This means that they should develop somesort of strategic foresight. As leaders, they not only have to selectthe right people who will get things done but more importantly theyhave to make important strategic choices. And understanding choic-es and the assumptions around choices is a core objective of thisprogram: to open the mind of people so that they are able to lookahead and say: what is strategically of essence for my company?

Professor Weigand, what vision do you have for the Kellogg-WHU EMBA Program in the future?

PROFESSOR WEIGAND: The main visi on of the program is to betruly global, to fully exploit the global network, which now in-cludes China, and to develop managers into leaders who arenot afraid of crossing borders like our two founding deans didwhen they thought of building a global EMBA network. We arenow in a globalized world so the vision is to be the number oneExecutive MBA program in the world and provide world-classeducation.

Do you have questions for Hanne Forssbohm and Professor JrgenWeigand? Contact us: [email protected] and well put you in touchwith them.

THURSDAY FRIDAY SATURDAY SUNDAY 8:3011:45 amOccasional Leadership & PersonalDevelopment Workshop

8:3011:45 am

Morning Class

1:156:15 pm

Afternoon Clas s

6:157:15 pm

Group Dinner

Evening

Group SessionEvening

Group SessionEvening

Group Session

6:007:00 pm

Group Dinner6:007:00 pm

Group Dinner

1:006:00 pm

Afternoon Cl ass1:006:00 pm

Afternoon Cla ss

12:001:15 pm

Optional Lunch11:451:00 pm

Optional Lunch11:451:00 pm

Group Lunch11:451:00 pm

Group Lunch

8:3011:45 am

Morning Class8:3011:45 am

Morning Class

Sample Live-In Weekend Schedule.

This schedule is subject to change

PROFESSOR WEIGAND: Actuall y, we really c ant igno re thechanging environment, so there needs to be a focus not juston functional knowledge but especially on implementation. Tothis end, we have added elements to the curriculum that arecloser to implementation than to just providing conceptual ideasand frameworks. For instance, one of our eminent professors,Professor Fassnacht, teaches a course where he invites seniorprofessionals who bring to the classroom their own businesscases, which we call real-life cases. We ask EMBA participants

to solve the issues of the real-life case. So this involves directimplementation as opposed to just absorbing things and creat-ing knowledge.

Hanne, what do you think the programs greatest strengths are?

HANNE: The most import ant strength of the program is its hugenetwork: being part of this global network with its integratedcurriculum, and the opportunity for our students to meet withthe other cohorts at our global partners locations all around theworld during the second year.

How would you describe the ideal candidate for this program? W hat par ticular charac teristi cs ar e you looking for?

HANNE: I think there is no ideal candidate because we are look-ing for very diverse types of people. Our student body is quiteeclectic. Students bring in various professional experiences andexpertise. They also bring in different points of views thanks totheir extensive experience. They need to have a global mind-set because they will most likely be required to lead businessesin an international environment in the future. They also need tobe responsive to responsible leadership and corporate socialresponsibility.

Professor Weigand, how has the EMBA curriculum evolved since the Kell ogg-WHU EMBA Programs inception?

PROFESSOR WEIGAND: I have been involved with this programsince 2000. The Kellogg-WHU Program started in 1997 so I havea good recollection of what has happened overtime. I think thecurriculum has changed significantly on the surface but diggingdeeper, it has remained a general management program as itshould. Our program provides solid business foundations, which

are called core courses. These core courses have more or lessremained the same. Most of the change has happened in whatwe call advanced courses in the second year of the program.

There, we have def initely s hifted fo cus away from a pu rely func -tional approach to a more state-of-the-art and topical one, in-cluding more entrepreneurship courses for instance. I took overthe position of Academic Director in 2010 and since then wehave placed quite some emphasis on leadership. Weve devel-oped themes around general management and leadership thatare useful and applicable practice for our participants.

With regards to new courses that are coming up in thecurriculum, how do you think those courses adapt to newtrends and the changing environment?

20

Program Structure

Your Building Block.

JRGEN WEIGANDProfessor of Economics and Academic Director Post ExperiencePrograms at WHU Otto Beisheim School of Management

HANNE FORSSBOHMProgram Director, Kellogg-WHU Executive MBA ProgramWHU Otto Beisheim School of Management

Understanding choices andthe assumptions aroundchoices is a core objectiveof this program

The program consists of various learning formats:

Live-In Weeks, Weekend Courses, and Capstone Weekendin Vallendar, Germany

Live-In Weeks at the Kellogg School of Management inEvanston, IL, USA

Live-In Global Electives at our partner institutionsworldwide: Toronto, Hong Kong, Tel Aviv, Miami, Evanston/ Chicago, Bejing

21

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Program Structure

Sample Program Schedule.

SEPTEMBER1 WeekWHU Campus in Vallendar, Germany

MODULE 1 (CORE):The Role of the General ManagerStrategic Innovation & Corporate RenewalLeadership in Organizations

NOVEMBER2 Weekends (back to back)WHU Campus in Vallendar, Germany

MODULE 2 (CORE):Fundamental Tools for Business Analysis

International Financial Reporting & Analysis

Decision-Making under Uncertainty Managerial Economics

JANUARY 2 Weekends (back to back)WHU Campuses in Vallendar & Dsseldorf, Germany

MODULE 3 (CORE): Business Functions IMarketing Management

Managerial Finance Managing People for Competitive Advantage

MARCH2 Weekends (back to back)WHU Campus in Dsseldorf, Germany

MODULE 4 (CORE): Business Functions IIManagerial StatisticsStrategic Marketing

Business Strategies

APRIL OR MAY1 WeekWHU Campus in Vallendar, Germany

MODULE 5 (CORE):Business Functions IIICorporate Finance

Operations Management

AUGUST2 Weeks (choose 2 consecutive weeks out of 4)Kellogg School of Management, Northwestern UniversityCampus, Chicago, IL, USA

MODULE 6:Compulsory International Module (4 Courses)Negotiation Strategies

Strategic Crisis Management Strategic Decisions in Operations Strategic Marketing Decisions

WHU ADVANCED COURSES(MODULES 7 & 8)

6 courses are required in these modulesOpted-out Advanced Courses can be replaced by additionalGlobal Electives depending on seat availability

OCTOBER2 Weekends (back to back)WHU Campus in Vallendar, Germany

MODULE 7: WHU Advanced CoursesDigital MarketingFoundations of Entrepreneurship

Intellectual Capital Management

JANUARY2 Weekends (back to back)WHU Campuses in Vallendar & Dsseldorf, Germany

MODULE 8:WHU Advanced CoursesEthics & Executive Leadership

The Entrepreneurial Journey Management Accounting

MARCH1 Weekend (choose 1 weekend out of 2)WHU Campus in Vallendar, Germany

MODULE 9:WHU Capstone Live-In Weekend (required)Course:

Capstone Business Simulation

VARIOUS DATES Toronto, Hong Kong, Tel Aviv, Chicago, Miami, Beijing

MODULE 10: Global Electives (at least 1 Module with2 courses required)

MAY1 WeekWHU Campus in Vallendar, Germany

MODULE 11:International Live-In Week@WHUThe Business Environment in Europe

Luxury Brand Management

THROUGHOUT THE PROGRAM

MODULE 12: Advanced Leader ship Development(integrated units)

Year 1

Year 2

JUNEAUGUST3 months

MASTER THESIS Project-related (practical) or Research-based or An elab orated Business Plan

OCTOBER

GRADUATION CEREMONY

See all courses:

This schedule is subject to change

Program Structure The Kellogg-WHU E xecutive MBA Program stretches over twoyears and begins in September of year 1 and ends in Augustof year 2. Graduation takes place in O ctober of year 2. The

program has been optimized throughout the years to maximizelearning and personal development and minimize time awayfrom work and home.

Days Out of Office overEntire 2-Year Program51

21Modules

Months

Countries511

22 23

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Program Structure

Module 10: Global Electives

KELLOGG-SCHULICH, Toronto

KELLOGG-RECANATI, Tel Aviv

KELLOGG-HKUST, Hong Kong KELLOGG, Miami

KELLOGG, Chicago

GUANGHUA-KELLOGG, Beijing

OCTOBER OR NOVEMBEROne Week (6 Days)

Sample Courses: Mergers & Acquisitions

Enterprise IT Strategy and Governance

JANUARYOne Week (6 Days)

Sample Courses: Venture Capital

Product Management for Technology Companies

DECEMBEROne Week (6 Days)

Sample Courses: Deal-Making in China and Asia Building a Powerful Consumer Brand in China Understanding Consumers

APRILOne Week (6 Days)

Sample Courses: Competitive Analysis of Commodity Industries

Family Enterprises: Success and ContinuityInternational FinanceInvestment Banks, Hedge Funds and Private Equity

Retail Analytics: Pricing and Promotion Strategic Challenges in Emerging Markets

FEBRUARYOne Week (6 Days)

Sample Courses: Leading High-Impact Teams Adverti sing St rategy Innovation Strategy & Management

World EconomySocial Dynamics and NetworksFoundations of Entrepreneurship

MAYOne Week (6 Days)

Sample Courses: Finance in China West Meets East: Strategic Implications for Managing

in the 21st Century

Through Global Electives, EMBA stu dents have the oppor tunityto broaden their perspectives and benefit academically, pro-fessionally, and personally from the extensive Kellogg ExecutiveMBA Global Network.In order to reinforce the internationality focus of the Kellogg-WHU Executive MBA Program, students are required to take

at least one Global Elective: module composed of 2 courseseach. Location preferences will be accommodated on a seatavailability basis for each elective. The Global Electives takeplace throughout the second year of enrollment at the KelloggEMBA Global partner institutions.

See all courses:

*This schedule is subject to change

24 25

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Prole

Executive MBA Participants

Class Characteristics

16% Financial Services/Real Estate

14% Telecommunications

11% Technology

11% Consumer Goods/Auto/Food9% Basic Materials/Chemicals7% Healthcare/Pharma7% Energy7% Manufacturing7% Transportation/Construction5% Media/Communications2% Law2% Non-prot/NGOs/Government2% Agriculture

INDUSTRY

Average Age

36

Average Mana gementExperience

7 YEARS Average Work Experie nce

12 YEARS

NationalitiesRepresented

24Female Students

20%Male Students

80% AverageClass Size

45

International 77% Germany 23%

Western Europe 47%(excl. Germany)

NATIONALITIES (BY REGION)

Latin America 2%

Asia/Mi ddle Eas t/Africa 17%

North America 5%

Eastern Europe 29%

SENIORITY LEVEL

Manager 29% VP 2%

CXO 7%

Owner/Partner 14%

Director 23%

Senior Manager 25%

WHU Otto Beisheim School of ManagementKellogg-WHU Executive MBA Program Burgplatz 256179 VallendarGermanyPhone: +49 261 6509-186Fax: +49 261 [email protected]

Excellence inManagementEducation


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WHU Otto BeisheimSchool of ManagementKellogg-WHU ExecutiveMBA Program Burgplatz 256179 VallendarGermanyPhone: +49 261 6509 -186Fax: +49 261 [email protected]

1 0 / 2 0 1 4

Course Descriptions2015 2017

The Kellogg-WHU

Executive MBA Program

Local Knowledge.Global Expertise.


16/18

MODULE 1

Strategic Innovation & Corporate RenewalProfessor Holger ErnstInnovations are a prerequisite for survival and sustainedgrowth in most industries. The course covers strategic, orga-nizational, and procedural aspects of managing product, pro-cess, and business model innovation in different industrial andcompetitive environments. It is designed to help participantsunderstand why innovation is critical for achieving sustainablecompetitive advantage. The course puts a special emphasison the role of leaders during the process of innovation andstrategic change. It will also address open innovation, frugalinnovation, reverse innovation, and innovation for and fromemerging markets.

Leadership in OrganizationsProfessor Adam Waytz

The firs t issue a leade r in the role of m anager, ent reprene ur,investor, or stakeholder must address about an organizationconcerns its value proposition, whether deciding to enter anindustry or to begin an undertaking. However, this analysisis incomplete if leaders fail to consider the wider impact of theorganizations actions on its own employees and on society.

This cours e focuse s on the problem of incorp orating a widevariety of value perspectives into decision-making.

MODULE 2

International Financial Reporting & AnalysisProfessor Thorsten SellhornBecome a more effective manager by understanding financialreporting, the global language of business. This course isabout familiarizing yourself with firms financial statementsand being able to read and analyze them to your professionalbenefit. Although the main focus of this course lies on finan-cial statements prepared by public firms under InternationalFinancial Reporting Standards (IFRS), what you will learn canbe applied globally to any firm. In this course, you will learnto prepare, analyze, and interpret financial statements.

Decision-Making under UncertaintyProfessor Karl Schmedders

This cou rse int roduce s the basic concept s and tools ofprobability theory used throughout the Kellogg-WHU EMBAProgram. The first part of this course covers sample spaces,elementary probability laws, and conditional probability. Thesecond part covers probability distributions, measures of cen-tral tendency and dispersion, and correlation. The third partintroduces the normal distribution. Finally, the course transi-tions into statistics and depicts the basic ideas of statisticalsampling. Excel functions and tools are introduced and usedthroughout the course.

Managerial EconomicsProfessor Jrgen Weigand

The cour se exam ines the economic foundations relevantfor the strategic management of business organizations.Participants will be provided with frameworks and tools usefulfor making strategic and tactical decisions in markets subjectto competitive strategic interaction. In particular, the coursewill introduce advanced situational analysis of industries andcompetitors, develop judgment on market dynamics (entry,expansion, exit), identify and explore fundamental changesin the market environment (e.g. the emergence of new, dis-ruptive technologies), and derive implications for strategicleadership.

MODULE 3

Marketing ManagementProfessor Lakshman KrishnamurthiMarketing is all about positioning your product or service toyour target customers so that they are more likely to chooseyour products than your competitors. This means you musthave a compelling value proposition. The first part of thecourse focuses on gaining an understanding of the big picture:market, customers, company strengths and weaknesses,competition, and collaborators, and then digs deeper intounderstanding customers needs, benefits, and requirements.

The second part of the course focuses on product st rategy.We will discuss what marketing actions you should be takingto improve your chances of success in new or existing mar-kets. The third part of the course will focus on value pricing.

Managerial FinanceProfessor Artur RavivManagerial Finance introduces the basic techniques offinance. Main topics of this course include discounting tech-niques and applications; evaluation of capital expenditures;and estimating cost of capital and bond and stock valuation;market efficiency, capital structure, dividend and stockrepurchase policy, and firms use of options and convertiblesecurities.

Managing People for Competitive AdvantageProfessor Martin HglPeople clearly are an organizations most critical resource.

Their k nowledg e and skills a long wit h their commitm ent,creativity, and efforts are the basis for competitive advantage.It is people with creative ideas for new products or for pro-cess improvements, who devise marketing strategies or takenew technologies to the next level. This course focuses onthe people-side of business from a general managementperspective. In taking this generalist approach, we integrateconcepts from organizational behavior, human resourcemanagement, strategy, and organizational design.

MODULE 4

Managerial StatisticsProfessor Karl Schmedders

This course covers the topics of conf idence in tervals, hy poth-esis tests, and regression analysis.

The objecti ve is to quic kly go over the first two topics, whichwill provide a great foundation for the main topic of the course:regression analysis. Regressions are extremely useful andcan deliver eye-opening insights in many managerial situations.In this course, you will solve some entertaining case studieswhich demonstrate the power of regression analysis.

Strategic MarketingProfessor Tim Calkins

This cours e is de signed to develop your skill s in the areaof marketing strategy. The main objectives of this course areto give participants an appreciation for strategically thinkingabout marketing and brands and the tools to do so. Thiscourse builds on what is covered in the marketing manage-ment course; it reinforces those concepts, applies them toa variety of different situations and introduces new material.

The strategi c marketing class is ve ry rea l-world. Market ingstrategy seems easy, but in reality it is incredibly difficult whenit comes to execution. The goal of the class is to discuss boththeory and practice, and to learn from both.

Business StrategiesProfessor Scott Schaefer

The objecti ve of this c ourse is to help par ticipants b uild anunderstanding of how competitive strategy may lead to thecreation and persistence of profits. To achieve this aim, thecourse will introduce a set of tools and concepts derived fromeconomics and use these tools and concepts to analyzereal-world business situations.

MODULE 5

Corporate FinanceProfessor Christian Andres

This course covers the basic princ iples of c orporate fin anceand further develops the necessary practical tools for financialdecisions and corporate valuation. We will take a closer lookat the determinants that affect the debt/equity choice. We willalso discuss practical guidelines to derive the cost of capitalfor single projects and for the whole firm. In addition, thecourse will provide an overview of a firms external financingalternatives (debt and equity), with a focus on the securityissuance process (IPOs). Additional topics include the boardof directors and executive compensation.

Operations ManagementProfessor Jan A. Van Mieghem

This course serves as an int roduction to O perations M anage-ment. We approach the discipline from the perspective ofthe general manager rather than the operations specialist.

The cove rage is s electiv e; we conc entrate on a sma ll list ofpowerful themes that constitute the central building blocksof world-class operations. The two central themes discussedin the course are: 1) How do operational issues fit into astrategic context? 2) How does a process view of operationsindicate key levers for managing business process flows?

MODULE 6

Negotiation StrategiesProfessors Leigh Thompson and Brosh M. TeucherNegotiation is the art and science of securing agreementsbetween two or more interdependent par ties who seek tomaximize their outcomes. Negotiating with people from differ-ent cultures adds significant challenges. This course providesyou with the opportunity to develop your negotiation skills ina series of simulations and debriefings that address multicul-tural and multiparty issues in the contexts of deal-making anddispute resolution.

Strategic Crisis ManagementProfessors Timothy Feddersen and David Austen-SmithCrises have been frequently conceptualized as threats, butthey can also provide opportunities. Seizing such opportu-nities requires a close connection to the companys positionin the marketplace as well as strategic frameworks for effec-tive crisis response. This class focuses on crisis managementfrom the point of view of managers and consultants. Toanticipate and manage crises successfully, managers needto combine strategic thinking with an awareness of the impor-tance of the ethical dimensions of business.

Strategic Decisions in OperationsProfessor Gad Allon

The goal of this c ourse is to under stand h ow strate gic deci-sions in operations impact the performance of the firm. Wewill approach operations and operations strategy by taking aholistic view, which incorporates competitive strategy, finan-cial evaluation, and the customer experience. We will focus ondecisions and challenges that many firms face: assessing theattractiveness of a firms operating system from an investor/ external perspective and from a management/internal per-spective. We will then evaluate whether to build competenciesin-house or acquire them externally. Finally, we will concludethe course with an in-class team simulation game.


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Strategic Marketing DecisionsProfessors Tim Calkins and Julie HennessyUnderstanding the core marketing concepts is not sufficient;marketing leaders have to be able to apply the conceptsin different and often challenging situations. The StrategicMarketing Decisions course is designed to help you makesmart and strategic choices. There are two parts to thiscourse: class sessions, which will focus on four key ques-tions: 1) How should I think about targeting? 2) How do I writea strong marketing plan? 3) How do I anticipate competitivemoves? 4) How broad a portfolio should I support? And asimulation exercise, which will give you experience running abusiness, making marketing decisions and gaining supportfor your recommendations.

MODULE 7

Digital MarketingProfessor Mohanbir Sawhney

The objec tives of this cou rse are to 1) provide partic ipantswith an understanding of the impact of digital and socialnetworks on customer behavior and marketing strategies;2) share conceptual frameworks and analytical tools forformulating and implementing marketing strategies; 3) helpparticipants understand best practices in digital marketingthrough cases, exercises, and examples.

Foundations of EntrepreneurshipProfessor Peter Witt

The cou rse pr ovides parti cipants with a theoret ical b ack-ground on entrepreneurship, gives practical advice andknowledge on the topic, and discusses the preparation ofbusiness plans. The focus of the course lies on the entrepre-neurial process and the decisions to be taken at each phaseof the start-up development. Successful entrepreneurs pres-ent their companies and business concepts. They also reporton personal experiences and problems with their start-ups.

Intellectual Capital ManagementProfessor James G. Conley

This course covers the specific agenda of using intellec tualcapital for competitive advantage in multiple market contexts.In the contemporary economic environment, intellectual as-sets like know-how, inventions, content, brands, trademarks(forms of intellectual property), contractual agreements, etc.,are the largest proportion of a firms total wealth. And yet,most firms do not proactively manage these assets. In thiscourse, we adopt a lifecycle approach to the managementof an intellectual asset.

MODULE 8

Ethics & Executive LeadershipProfessor Keith Murnighan

As this cla ss takes place toward s the end of the prog ram,the focus will shift from being an excellent leader to being anexcellent CEO. Within this framework, we will explore issuesthat top corporate leaders must keep front-of-mind. In partic-ular, this will include their ethical responsibilities. What are thechallenges they face? What are their responsibilities? Whatoptions are available if corporate goals conflict with personalgoals or social standards? How can leaders create effectivemoral corporations? What are the inevitable risks and obsta-cles leaders will confront and how can these risks and obsta-cles be mitigated and managed?

The Entrepreneurial JourneyProfessors Christoph Hienerth and Malte Brettel

This course builds upon basic knowle dge and understan dingof entrepreneurship. Its main objective is to guide participantsthrough the entrepreneurial journey of identifying and devel-oping entrepreneurial opportunities. In this course, you willlearn and apply the tools needed to figure out 1) what an en-trepreneurial opportunity is, 2) how to build a business modelaround it, and 3) how to acquire the right kind of funding foryour idea.

Management AccountingProfessor Thorsten Truijens

This cl ass is more a bout m anagem ent. Ac countin g onlyserves as the basis to provide us with the figures needed todiscuss and support decisions. We will focus on the behavior-al issues of management accounting. This will allow us to ilus-trate some of the real problems of management accountingin large corporations. With this behavioral approach, the classis meant to prepare you for real-world decision situationswhere your management accountant recommends a certaincourse of action based on figures only he or she fully under-stands. In these situations it is crucial for managers to ask theright questions, request that the problem be analyzed againfrom a different angle, and realize which of the available man-agement accounting tools is suitable for which context.

MODULE 9

Capstone Business SimulationProfessors Thomas Hutzschenreuter/Jrgen Weigand

This co urse of fers a vivid action- based learni ng expe rienc eof strategy-making and execution. In a multiple-round marketsimulation game participants act as executive decision-makersof firms operating in a competitive market environment full ofuncertainty and surprises.

Workshop Strategy Implementation & Change Management This workshop focuses on executing lea dership d ecisionsunder stakeholder influence. It consists of two par ts. The firstpart reviews the theoretical background of strategy executionand organizational change. In the second part participantswill apply the lessons learned in a role play as members of acompanys management board that has the task of imple-menting strategic change.

Market Simulation GameParticipants are assigned to teams who will run competingfirms in simulated product markets. Each Executive Team willhave to formulate, present, and execute their competitive andcorporate strategies. Furthermore, the Executive Teams willdecide on internal and external equity investments in an in-vestment game. Finally, we will debrief on relevant conceptsand tools of corporate and competitive strategy.

MODULE 10

TORONTOEnterprise IT Strategy & GovernanceProfessor Michael Wade

The cours e is design ed for all executives who part icipate indecision-making that affects the IT function, or who have aninterest in strategic IT issues. The orientation of this courseis organizational and strategic. It deals with the effective man-agement of capabilities generated from IT, rather than thesystems themselves.

Mergers & AcquisitionsProfessor Theodore PeridisBusinesses are constantly challenged to compete in the globalmarketplace. Corporations are forced to revisit their businessmodels and value propositions. They are challenged to criticallyrethink their product offerings, the markets they serve, andthe places they conduct business. Many of todays successfulbusinesses respond to these challenges with creative and ef-fective ways, restructuring, merging, or acquiring other compa-nies. This course will address the fundamental questions per-taining to corporate control and investigate the strategic andorganizational considerations that arise with ownership chang-es. It will explore the motives of individual firms to engage in amerger or pursue an acquisition. In this course, we will debatethe various theoretical perspectives proposed to explain suchorganizational undertakings and contrast them with the typicalpronouncements that accompany these moves. We will exam-ine the prevailing valuation models used by investment bankersin advising on mergers and acquisitions and consider the legalaspects of domestic and international transactions. We will ex-plore the integration challenges and the organizational, humanresources, and operational issues that managers are calledto tackle to extract value from their acquisitions.

HONG KONGDeal-Making in China and AsiaProfessor Larry Franklin

This course focuses on formulating a nd applyi ng practica l,deal-making strategies to real-world transactions in the AsiaPacific region. Participants are asked to play the role of deal-makers lead negotiators, investors, investment bankers,salesmen, consultants, or investment advisors in pioneer-ing transactions such as: transferring technology to Chinawhile protecting intellectual property; persuading a reluctantEuropean Board of Directors to approve the concept of build-ing four 5-star resort hotels in Indonesia; or investing in aHindi-language TV channel in India.

Building a Powerful Consumer Brand in ChinaProfessor Ron McEachernCEOs today must have a clearly art iculated product andbranding strategy for China. Unfortunately, most companiesdo not fully understand hence are unprepared to address theunique consumer attitudes and market structure in China.Merely introducing products that have been successful in theUS or Europe without connecting with Chinese consumerswill often lead to wasted investments and efforts. The goalis to set a sustainable, profitable, and scalable footprint byestablishing consumer brands that are relevant, familiar, andpreferred to the Chinese target audience.

Understanding ConsumersProfessor Jaideep Sengupta

Virtually all decisions involved in de veloping an effectiv e mar-keting mix for a product or service rely on in-depth knowledgeof the consumers who comprise the target market. Thus, aclear understanding of the principles, concepts, and resultsof consumer behavior is critical to successful marketing. Inthis course we will directly examine the available theory andresearch concerning the psychology of the consumer, withthe goal of understanding how marketing managers can usethese ideas. This course will give participants an appreciationof how getting inside the mind of the consumer enables themarketing manager to design better marketing strategies, witha particular emphasis on effective communication tactics.

TEL AVIV Venture CapitalProfessor Avi Zeevi

This course introduces the Venture Capital ( VC) industr y. Theplayers of the industry and their respective roles will be pre-sented and discussed during this course. Participants willexperience the life cycle of investment decision and will learnthe VC game plan and best practices of the industry. Thecourse will allow participants to become knowledgeable andeffective players if they eventually consider a VC-backedfinancing for their ventures or decide to join the industry.

Product Management for Technology CompaniesProfessor Mohanbir Sawhney

Two defining chara cteristics of the tech nology industr y are it sdynamic nature and the inter-connected nature of technologyproducts and services. This results in a continuous need fornew products and for managing all of the aspects of discov-ering, designing, developing, supporting, and making moneyfrom these products. In technology companies, the ProductManagement organization is responsible for the inboundmarketing activities as well as outbound marketing com-ponents: identifying unmet customer needs, orchestratingthe development of products and solutions to address theseneeds, taking new products to market and managing prod-ucts as a business. This course equips its participants withthe frameworks, tools, and direct experience to become effec-tive technology product managers (whether as entrepreneursor intrapreneurs within established technology companies).


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EVANSTON/CHICAGOLeading High-Impact TeamsProfessor Leigh Thompson

This course examines t he design, m anagemen t, and lea der-ship of teams in organizational settings. The focus is on theinterpersonal processes and structural characteristics thatinfluence the effectiveness of teams, the dynamics of intra-team relationships, and sharing knowledge and informationin teams. The purpose of this course is to understand thetheory and processes of group and team behavior so thatleaders can successfully work with teams.

Adver tisin g Stra tegyProfessor Brian Sternthal

This course discusses how to develop advert ising that e n-hances engagement through the acquisition, advocacy, andadoption stages of a consumers purchase journey.

Advert ising planning begins with the selec tion of the appro-priate target for advertising messages, and the developmentof a compelling brand positioning. Customer insights andcompetitors equities serve as bases for selecting the target,the brands frame of reference (the goal achieved by usingthe brand), and its point of difference (how it is superior inachieving the goal). Half the course is devoted to developinga compelling advertising plan. The remainder of the course isdevoted to an analysis of how an advertising plan is executedthrough the selection of media and creative strategy.

Innovation Strategy & ManagementProfessor Robert WolcottInnovation must be a principal objective of senior manage-ment; unfortunately, few managers achieve the innovationcompetencies necessary to manage the portfolio of innova-tion required by global firms to reach growth and profitabilityobjectives. This course will use a theoretical and applied ap-proach to understanding Innovation Strategy & Managementfrom the perspective of the senior corporate manager. It willfocus on innovation within business entities, from the typicaltechnology and product innovation programs, to broader,process, marketing, and other forms of innovation.

World EconomyProfessor Sergio Rebelo

The world economy is u ndergoing a period of v ery rap idchange. Understanding this change is essential to make soundinvestment decisions that position companies for future prof-itability. In this course we will study the most important busi-ness regions of the world. The goal of this course is to providestudents with a working knowledge of the economic drivers,challenges, and opportunities present in these regions. Thiscourse also discusses the performance of equity and bondmarkets in different countries and the economic forces under-lying oil and other commodity markets.

Social Dynamics and NetworksProfessor PJ Lamberson

A recent IBM sur vey of over 1,500 CEOs worldwide identifiedcomplexity as the most pressing challenge facing todaysbusiness leaders. The main objective of this course is to pro-vide participants with the tools and skills necessary to con-front this accelerating change and increasing interconnectionthrough learning about social networks, social media, tippingpoints, contagion, herd behavior, the wisdom of crowds,and prediction markets. The course uses simple yet powerfulinteractive models and hands-on exercises to develop anunderstanding of both the theory and applications of socialdynamics and network science.

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