About this course
The GEMBA offers experienced executives an intensive 14 to 17-month fast-track to the top via one of the world’s most prestigious and multicultural business schools.
Each class has an unparalleled diversity of nationalities and business backgrounds, enabling participants to learn from each other and build a close-knit yet globally distributed network. Another unique feature is the Leadership Development Programme (LDP) which includes a programme-long schedule of group coaching, 360-degree assessments and team activities, designed to develop a leadership style that is authentic to you, thus accelerating your career progress even further.
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Strong Leadership Potential - INSEAD is looking for applicants who can demonstrate their potential as leaders. We will consider your professional experience and past performance when assessing your application. Participants in our current class have an average of 13 years work experience, and at least three years in a management role in charge of teams and/or projects.
Academic Capacity - The INSEAD GEMBA is intensive, rigorous and challenging. You must have a sound academic foundation: a bachelor's degree or equivalent from a recognised college or university (although in exceptional circumstances, we may waive this requirement).
International Outlook - We attract applicants with cross-cultural sensitivity and an international outlook. We consider applicants who have lived, worked, or studied abroad or who are working for international companies or on an international level with clients, suppliers or other stakeholders.
Ability to Contribute -We seek candidates who demonstrate a clear desire for intellectual growth, both in the classroom and through working on group projects. Participants are expected to contribute proactively and share the insights they have gained throughout their professional and personal experience.
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Core CoursesFinancial Accounting
Accounting is the language of business. And financial accounting/reporting is about communicating in that language to people outside your company. Understanding how accountants decide what information to report, how they aggregate it and the uses to which it can (or cannot) be applied is one of the fundamental building blocks of any business education. Hence, a significant component of this course is about taking basic textbook knowledge and applying it to interpret real world corporate financial statements. You will learn to be a critical user of financial statements and develop sensitivity to the managerial assumptions, policy choices and soft estimates that are embedded in a firm’s reported figures.
Prices and Markets
Ultimately, it is the prices paid and charged by a company that determine how economic value is divided between the business, its consumers and its suppliers. This course teaches you how to use structured thinking based on microeconomic theory to understand how economic fundamentals such as demand, cost, market structure and government policy shape the prices that prevail in a market.
By the end of the course you will know how to: construct a fact-based, logically grounded analysis of a competitive market; identify the categories of costs that are relevant for critical business decisions; construct models of how government interactions affect prices; make proft-maximising price decisions based on the interplay between cost and demand; and use several useful game-theory based models of competition.
Uncertainty, Data, and Judgment
The goal of this course is to provide a solid foundation in probability and statistics for subsequent courses at INSEAD and for a management career beyond. After all, most management decisions are made under conditions of uncertainty. So you will need a framework for thinking about problems involving uncertainty and, building on this framework, some tools for interpreting data. These are precisely the tools and frameworks that this course provides. While some technical analysis is essential, the content is presented from the perspective of a future manager, rather than from the viewpoint of a technician.
As well as learning from lectures, exercises and case studies, you will use computer software to make calculations and analyse data.
This course is an introduction to the use of accounting information for internal planning, decision-making and performance evaluation. The main objective is to equip you with the knowledge to understand, evaluate and make practical decisions on the many financial reports used in modern companies. An internal accounting system serves two fundamental purposes. First, it supports decisions about products, processes, assets and customers. Second, it plays a key role in providing
incentives to managers at all levels and evaluating their performance. This course focuses on both and reveals that many companies have failed to provide their managers with useful information in the past. You will discover how a managerial-accounting system should be designed and the mechanics of the many techniques used to prepare management reports.
This intensive core curriculum gives you a foundation in the fundamental practices of business including finance, accounting, marketing, economics, leadership, strategy, business ethics, and broad management skills essential to succeed in any career. The core curriculum consists of 11 courses:
List of Core Courses
Individuals, companies, governments and international organisations all operate within an economic environment that influences their performance. In order to minimise the risks and to capitalise on opportunities arising from macroeconomic conditions, companies must constantly monitor changes in interest rates, exchange rates, monetary/fiscal policy, inflation, unemployment and phases of the business cycle. The goal of this course is to build your understanding of these mechanisms and the way they determine the evolution of the global economic environment. The focus is highly applied. It relies on collecting and manipulating economic data (each group is assigned a different country) and reading prescribed press articles (usually from the week preceding the session).
Production and Operations Management
Businesses create value by supplying products or services to satisfy customer demand. But the inflexible nature of both supply and demand can lead to costly mismatches between them resulting in unsatisfied customers or wasted resources. In this course, you will acquire techniques to limit the occurrence and the impact of such mismatches and thus gain a competitive advantage for your organisation. The course has two parts. First, in Business Process Analysis and Improvement you will study tools and case studies that enable you to analyse, improve and design activities within the company. Second, in Supply Chain Management you will turn your attention to the external environment: sourcing raw materials and delivering goods to the customer.
Following the financial innovations of recent decades, modern corporate finance has become a highly complex area of expertise. Hence this course, which consists of three parts. The first provides you with an introduction to basic derivative securities, in particular options, futures and forwards. The main focus is on understanding how these instruments are priced, and who trades them and why. The second part covers the application of options pricing to corporate finance. It gives you an insight into real options, the valuation of convertible securities, executive stock options and risk management. The third part gives you a grounding in the traditional topics of corporate finance: financing policy (beyond the Modigliani-Miller theorem), pay-out policy (dividends versus share repurchases) and investment policy (the special case of mergers and acquisitions). The material is analytical and you will need a working knowledge of basic mathematics and statistics.
International Political Analysis
As every issue of the Financial Times illustrates, politics is a major force in shaping business worldwide. As you progress in your business career towards higher-level management, your ability to assess and handle the political environment will become an increasingly significant skill. This is particularly true if, like most INSEAD graduates, you will be doing business internationally or outside your home country. The purpose of this course is to help you develop this vital ability. Sessions cover issues such as: understanding politics; state structures; varieties of capitalism; industrial policy; international and regional regimes; the future of international politics; international political economy and the WTO; and the power of NGOs.
Imagine you want to start your own business and need to sell a new product or service. First you must understand the market you are going to be operating in. How big is it? Is it growing? Who are the main players? What is the competition like? But this knowledge is not helpful without a second step: understanding how potential customers make their choices and how to segment them into different groups. Third, you must develop your long-term marketing strategy by choosing a target segment and defining the benefits of your product or service for these customers. Fourth, you must make your tactical decisions about how to communicate, deliver and capture the customer value. Finally, you haveto monitor performance continually. These steps are at the heart of marketing management and will be the focus of this course. Remember, marketing is a process and not a company function!
Leading Teams and Organisations
The purpose of this course is to increase your effectiveness and skill in observing, understanding and leading behaviour in organisations. It is a class in applied behavioural science, which takes ideas and frameworks from psychology, social psychology and sociology and explores their implications for leadership and managerial practice. It is also designed to launch the Leadership Development Programme and provides a diagnostic framework for understanding and managing complex organisations. Sessions cover issues such as: communication in organisations; the role of individual differences in explaining behaviour; influence in a group setting; giving and receiving feedback; managing work; negotiation; and leadership.
Why are some companies consistently successful, while others are left behind? What can executives do to drive performance and growth in the face of intense competition, uncertainty or even radical industry disruption? This course explores some of the critical challenges you’ll face as a manager designing the course for your organisation. The focus will be on identifying the key drivers of persistent superior performance in different settings - and using that understanding to formulate better strategies. The course is structured into three parts. The first looks at business unit strategy and introduces you to the key concepts of competitive strategy with which to conduct industry analysis. The second covers developing strategy - with a special focus on value innovation and the challenges/opportunities arising from external competitive dynamics and internal organisational dynamics. The third is about corporate strategy in firms with multiple business units.
Advanced Corporate Finance
The key to creating corporate value is making good investments (e.g. R&D or acquisitions). It is therefore critical for firms to ensure they have enough cash to undertake these investments. This course will demonstrate how firms can optimally coordinate their investment and financing policies in order to avoid giving up attractive investment opportunities. The strategies that will be discussed include building a cash buffer, setting up a risk management program and designing new corporate securities. The emphasis will be on understanding these schemes and the reasons behind their potential success or failure, and on how to implement them to maximise shareholder value.
Financial Statement Analysis
The primary objective of this elective is the development of a framework for linking value creation to firms’ financial statements. The course will broadly focus on: tools for analysing a firm’s financial statements, accounting analysis, and valuation. The goal throughout the course is to integrate the three phenomena into a framework that is: (1) rigorous and, thus, durable over time; yet, (2) intuitive and, thus, easy to understand, remember, and explain to others.
International Financial Management
This course is targeted to participants who are interested in an international career and want to have a sound grasping of the main financial topics involving the international dimension of a company. The types of questions that will be addressed are: What are the implications of companies going international from a financial perspective? How do we evaluate an international project? How do we account for country and currency risk? How do we choose our shareholders when we go international?
Which market should we tap into to raise new capital? Where is it better to borrow? How can we reduce our cost of capital by issuing in different countries/currencies? How do we hedge the economic and transaction exposure that arises from operating internationally? While quantitative, the course is mainly focused on providing participants with a broad and integrated framework that allows them to master the complexity of the problems facing a firm that is exposed to international markets.
The Elective Courses allow you to go deeper into some of the disciplines covered in the Core Courses and a few new areas, depending on your personal interests. Choose 4 out of a wide selection of courses.
Management Decision Making
This course focuses on the behavioral aspect of judgment and decision making. How do people make decisions? What are the common pitfalls of managerial decisions? Research shows that people rely on a small number of heuristics in making decisions. These heuristics are extremely useful: they are fast, easy and they get us close to the right answer most of the time. However, they can also lead to serious mistakes. While intuition often serves us well, there are many decision traps that we tend to fall into on a repeated basis. The goal of this course is to help participants learn to make better decisions by improving their understanding of the workings of the mind. In short, the course is about the psychology of decision making.
Negotiations occur daily in business interactions, be it with corporate clients, distributors, business partners, suppliers, sub-contractors, colleagues, bosses, trade unions, etc. Negotiations may not even occur at the bargaining table: sometimes deals are unlocked while informally chatting with a business partner during dinner or at the airport. This course is designed to help participants become more successful negotiators by offering a pragmatic, step-by-step approach to help improve the behavioral and analytical skills that are essential to a negotiator’s success. Participants will learn both (1) how to remain firm in a negotiation and (2) how to maintain a constructive negotiating climate.
The goal of this course is to develop a more comfortable interpersonal style in dealing with both the issues and the people.
Brands are often viewed as the most important asset that firms possess and manage. Yet unlike traditional assets, brands are intangible, dispersed, and often ill-defined. As a result, marketing decisions are often made in isolation without taking into account their impact on brand equity. In this course, we will examine marketing strategy from a branding perspective, and address the most important issues involved in building strong brands and in maximising the value of existing brands. This course is designed to help general managers operating in a branded industry improve their marketing strategy.
This course will provide an important tangible advantage: practical actionable insights on how to understand and influence customers. As many industries are becoming more competitive and customers increasingly demanding and critical, it is more important than ever to thoroughly understand customer perceptions, opinions, needs and wants. One goal of this course is to achieve this as understanding customers allows firms to offer truly appealing products and services.
Another valuable skill that this course will cultivate is that of influencing customer preferences and perceptions. We will review fundamental principles of judgment and decision-making and explore how such principles provide concrete tools for shaping customers’ preferences andmanaging their
perceptions. This course will leave you with central concepts in customer decision making and with a unique perspective on marketing.
Strategic Market Orientation
Markets are dynamic and customers’ needs, preferences and decision making processes keep changing. Your competitors are constantly trying to outsmart you and your own technical and human resources are scarce. In many cases, your strategy is obsolete even before you started to execute, yet you must worry about both strategy and execution. Like pilots, learning the manual by heart is not enough and experience is the best teacher. That is why flight simulators are important, and this course allows you to simulate strategic market decisions using the INDUSTRAT simulation.
Unlike other simulations, INDUSTRAT is close to “real life” including the complexities of technology, development, sales and technical forces, etc. Through this, you will make decisions while applying modern strategic marketing concepts, sophisticated analytical tools and decision support systems based on a rich base of market research. By combining theory, analysis and intuition, this course allows you to gain the experience of making strategic marketing decision which otherwise would take many years to build.
Power & Politics in Organisations
This course is about learning to use power and influence as effective tools for both understanding your surroundings and achieving your goals. It’s about getting things done in the real world, where politics and personalities can often seem to hinder rather than help. It is a course for those who want to make things happen, despite the obstacles that might stand in your way. The course presents conceptual models and tactical approaches to help you understand political dynamics as they unfold around you and develop your own influence style. By focusing on specific expressions of power and influence, this course gives you the opportunity to observe their effective – and ineffective – uses in different contexts and stages of a person’s career.
Psychology of Leadership
This course applies cutting edge findings from psychology and organisational behavior to issues of leadership. As managers and leaders, the ability to handle interactions, both one-on-one and in small groups, far outweigh any other technical skills. What has been missing, and what this course will emphasise, is how to translate those research findings into practical tools, changing how things are done. The course is designed to provide you with concepts and competencies in four areas: individual effectiveness, emotional intelligence, leadership effectiveness, and team performance. The concepts will include both time-tested ideas and very recent findings, putting you at the cutting edge of management thinking. You will also have the chance to practice and experiment with these ideas. Through class exercises, videotaped exercises and cases, you will have the opportunity to turn the concepts into competencies.
Entrepreneurship and Family Enterprise
The Private Equity industry is known for its unparalleled growth and wealth generation over the past decades. The recent financial turmoil has given this subject additional relevance and opened the door to at times controversial discussions: Will the value-added focus of the Private Equity industry become a role model for the “new” financial markets of tomorrow or will the partnership-model itself have to accept dramatic changes to survive? It is clear that future growth will hinge on bringing the benefits of professionally-managed active investing to regions with different institutions, talent pools, and types of opportunities. This course offers a vital building block in the tool-kit of senior managers: The high probability of an involvement in a Management Buy-out (MBO) during their career makes it crucial to understand the workings of the PE partnership model and get a sense of the issues when valuing new and existing businesses.
Realising Entrepreneurial Potential
When most people think of entrepreneurship, they think of a genius starting a business in his garage. But what about a manager who identifies and acquires a business to improve it, develop it and increase its value? Is this entrepreneurship too? Yes it is. It is called an entrepreneurial acquisition. During the span of their careers, many mangers toy with the idea of buying the company they work for (MBO) or buying some other company (MBI). In addition to the obvious financial motives, more and more people are taking this path for the challenge, to fully exploit their skills and abilities and to exercise more control over their lives in a uniquely entrepreneurial way. This course covers the entrepreneurial acquisition process in detail from organising a company search, to financing the deal, to buying and managing a company, to selling it several years later, hopefully with a substantialupside. REP will take you through this process in a methodical manner and provide you with asound understanding of what is involved and the tools needed to navigate the hurdles along the way.
Corporate entrepreneurship is about building new businesses inside established firms. This includes starting new lines of business or new product units, setting up new practice areas, beginning offices in new geographies, managing spin-offs, or creating new joint ventures – as well as establishing firm-level processes to ensure the successful development of new businesses. Failure to effectively build new businesses has led to the demise of many firms and as a consequence, this topic is oftenat the very top of the agenda of executives leading established firms. Many executives abandon new business building efforts as they are faced with pressures to focus on the core business, lack of resources for the new business, political obstacles and career risks. This course addresses the business building process from a general management perspective, and offers potential solutions either to overcome – or to avoid - these barriers to new business building.
Social Entrepreneurship & Innovation
Social entrepreneurship is an approach to solving problems in society that is focused on value creation instead of value capture. Social entrepreneurs are becoming a driving force for societal change and business innovation, leading the new field of social enterprise. What does it mean to be a social entrepreneur (and intrapreneur)? What do social entrepreneurs do that is unique and why do they succeed in addressing profound societal problems in areas where governments, markets and charities have failed? And, importantly, how can social entrepreneurship contribute to your personal search for a more meaningful career and a positive impact in the world?
Industry & Competitive Analysis
This course goes beyond the concepts learned in the core strategy course (five forces analysis, competitive advantage, value chain) and provides a set of analytical tools and frameworks to help understand competitive environments, and assess strategic opportunities for companies. It is designed for those participants that want to be involved in setting competitive strategy at the level of a business unit within an industry. It is also appropriate for those involved in identifying strategic opportunities within an industry, such as consultants or private equity investors. The course will focus on the analysis of businesses facing strategic challenges that require reassessment of strategic direction and business model, such as those facing new competition, technological disruption, or industry restructuring.
M&As, Alliances and Corporate Strategy
Alliances and M&As are powerful tools for renewing a company’s core competences and achieving growth. In today’s fast moving business ecosystems, firms relying too much on their core competences and organic growth miss out on contributions from external innovators and do not review their core resources fast enough. While alliances and M&As are vital for companies, they can also break them. The course is designed to provide participants with an overview of the challenges associated with corporate growth, with a specific focus on M&As and alliances, by developing a “build – borrow – by” framework that can immediately be applied to their companies.
Strategy, Structure and Incentives
A skilled architect can look at a building’s blueprint and know instantly whether the building will stand or collapse. A skilled manager must be able to look at a company’s “blueprint” – its organisational structure and incentive systems – and know instantly whether the company will succeed or struggle in executing its strategy. In this course, participants will gain a framework and tools for rapidly diagnosing an organisation’s key strengths and vulnerabilities, based on three key questions. First, strategy – what is the scope of the company’s operations? Second, structure – who should make key decisions? And third, incentives – how should performance be measured and rewarded?
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How to Apply
Select INSEAD EMBA Assessment or GMAT
To help ensure we have the right people in the classroom, EMBA applicants must fulfil a mandatory testing requirement. Applicants can choose between taking the INSEAD EMBA Assessment or the GMAT® Exam. Please note, requests for a testing waiver cannot granted.
If you choose to take the INSEAD EMBA Assessment, please indicate your intention to do so on the application form. Once your application has been submitted and confirmed complete, the Pre-selection Committee will review it and if successful, you will be invited to join the assessment at the campus of your choice. Please note that there is an associated fee of €185 to take the test.
Alternatively, you can take the GMAT® Exam. Please request that your score be sent directly to INSEAD using this GMAT code at the time of testing: INSEAD, DL3-S8-14 Business Programmes, Executive MBA Programmes. As soon as you have taken the test, you will receive an unofficial score report. Please upload this unofficial report as a supporting document of your application, as it is sufficient for us to begin evaluating your file. GMAT scores are valid for five years. If you have already taken a GMAT and need the score sent to INSEAD, please contact Pearson VUE.
In certain circumstances, applicants may submit a GMAC Executive Assessment (EA) result. If you have not yet taken the GMAC EA, we suggest that you focus on the GMAT. If you already hold a GMAC EA result, please connect with an INSEAD representative to evaluate your score ([email protected]).
The profile information is hard facts about you and your history, similar to what you will have in a detailed resume. While not all fields are mandatory, the more information we have, the better understanding we will have of your history and potential.
Job Description and Motivational Essays
This section is a critical part of our evaluation process. As such, we advise you to spend a significant amount of time on your application essays. Your responses to the essay questions provide us the best opportunity to understand your career path, your accomplishments and your rationale for pursuing an EMBA. This is a chance to get to know you and to find out what motivates you. The essays are not meant to be academic articles or business memos, but rather your personal stories.
Letters of Recommendation
Two professional recommendation letters are required, providing insights about your demonstrated leadership and management potential. As such, at least one recommendation should come from your workplace; your current supervisor or manager is usually a good choice. The other recommendation may be from someone who has had the opportunity to evaluate you in a professional setting (ie. a client, a former supervisor, or a colleague from a non-work activity). Should you wish, you will also be able to upload an optional third letter of recommendation as part of the supporting documents.
Your recommenders can submit their letters prior to submission of the application, but please note that your application will not be evaluated until all letters of recommendation are submitted.
Official Academic Transcripts
Please submit both diplomas awarded and transcripts of grades from each college or university that you have attended. We will accept documents in English or French. All others must be accompanied by a certified English translation. Each document must bear the official seal and signature of the institution. Notarised copies will also be acceptable.
English Language Certification
Non-native English speakers who have not worked, trained or schooled in English for an extended period of time may be asked to provide an English language certification. We accept the PTE/TOEFL/TOEIC/IELTS exams.
Please provide your latest curriculum vitae, limited to 2 pages maximum.
Please upload a headshot of yourself in business professional attire. The photo should be in JPEG or GIF format and measure 99 pixels wide by 128 pixels high.
A fee of €250 must be paid online by credit card once you have submitted your application form. Please note that this application fee is non-refundable and your application will not be evaluated until the fee has been received.
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