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Thunderbird is the premier program of choice for internationally minded leaders seeking to refine their management skill sets and acquire exposure to best global practices in strategic decision-making and leadership.


Core Curriculum

International Course of Study

Thunderbird stands apart from traditional programs by providing a truly global perspective and experience that goes beyond the traditional MBA. Global business considerations — whether economic, political or cultural — are carefully integrated into the course sequence.

Below are examples of the types of courses offered through the Executive MBA-Europe program. There may be modifications to the course offerings.

GM-8000 Global Political Economy

This course offers an introduction to the fundamentals of the international business environment and its three major aspects:

  • The institutional framework and policy management of international economic relations
  • Risk assessment and strategic analysis of nation-states
  • The operational and organizational concerns of the transnational enterprise

The purpose of the course is to provide the international manager with an informed perspective on the institutions and policy processes that shape economic relations between international and national factors and among economic blocs as a foundation for further study in the Thunderbird program. The course also provides the substantive base and analytical tools necessary for acquiring an informed perspective.

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GM-8100 Financial Accounting & Analysis I

This course introduces accrual accounting concepts including revenue recognition, matching, and asset and liability valuation. Topics covered include the recognition and measurement of accounting events, the preparation and analysis of financial statements (balance sheet, income statement, and statement of cash flows), the use of international financial statements and as introduction to inter-corporate investments.

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GM-8101 Financial Accounting & Aanlysis II

This course will cover the application of accounting models to the measurement of assets, liabilities, and stockholders equity. Topics covered include, marketable securities, receivable and inventory valuation, fixed and intangible assets, bonds, leases, dividends, stock buybacks, stock splits and foreign currency translation. The emphasis of the course is on the evaluation of corporate financial reporting policy and the usefulness of financial reports for decision-making. U.S. and international accounting standards are covered.

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GM-8102 Managerial Decision Making & Accounting Information

This course covers the development and use of managerial accounting information, including both financial and non-financial performance measures, in making long- and short-run decisions. Topics include cost-profit volume analysis, cost behavior, relevant costs, job-order and processes costing, activity-based costing, management, pricing, and budgeting, analysis of customer profitability, balanced scorecard, variance analysis, and transfer pricing.

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GM-8121 Cross Cultural Communication

Cross-cultural communications provides a framework of models and skills for communication performance in competitive global business settings using a dynamic and interactive format. The course assists participants in implementing strategies for mastering interpersonal encounters, including conflict resolution, international negotiation in multicultural environments. The course not only examines theories of communication, but puts participants in experiential situations in which they develop valuable skills for global management. Using cases, self-assessment questionnaires, multicultural team exercises and simulations, this course equips the global manager with the ability to solve problems and take advantage of opportunities in a multi-cultural world.

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GM-8131 Cross Cultural Negotiations

This course will focus on the introduction of negotiating in the global context. Students participate in a variety of hands-on activities, such as scenario-driven discussions, case study and student-to-student negotiation.

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GM-8203 Global Financial Management

This course examines corporate finance issues from managerial and strategic perspectives, and extends the concepts covered in the previous module to cross-border settings. Topics addressed include financial derivatives such as options, forwards and futures; real options; foreign exchange risk management; and cross border valuation.

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GM-8206 Financial Management

This course introduces the fundamental theories and current issues of finance and equips participants with the necessary tools to make corporate financial decisions within a market-oriented framework. The emphasis is on practical applications with the method of instruction combining case discussions and lectures. Topics addressed include Present value concepts; the basics of stock and bond valuation, capital budgeting (various tools of capital budgeting and derivation of cash flows for capital budgeting); and working capital management.

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GM-8207 Financial Management II

The second module of finance examines additional strategic corporate finance and investment issues beyond those covered in Financial Management I. Topics addressed include: financial market efficiency and its implications, portfolio selection and asset allocation, weighted average cost of capital, capital structure, dividend policy, mergers and acquisitions, and initial public offerings.

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GM-8210 Global Economics

This course investigates the nature of foreign exchange markets and hedging instruments; international financial markets and the transmission of funds; balance of payments; alternative international monetary arrangements and institutions; and the respective adjustment mechanisms in response to fiscal and monetary policy changes. The course also examines how countries grow successfully and the causes of economic crises.

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GM-8319 Operations Management

This course provides a strategic perspective on value chains that create and deliver goods and services to customers. The course also introduces principles and tools related to the design, measurement, improvement, and sustainability of processes. Course topics explore the role of market segment choices and operating priorities as they influence decisions about process flows, supply chain design, process architecture, customer service, waste reduction, quality, responsiveness, and social responsibility.

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GM-8390 Project Management

This course investigates the increasing use of projects to accomplish important organizational goals and the unique style of management required to lead them. The course will address both advanced and fundamental project management and project leadership concepts and tools.

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GM-8406 Global Business Ethics

Participants completing this course will learn  about fulfilling the changing professional and social expectations around responsible business management.  Session s will address evaluating the changing demands of society on managers and corporations and the associated risks and opportunities. The course will also explore current and cutting edge business strategies for squaring social, environmental and ethical responsibilities with competitive demands.

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GM-8412 Leading & Managing Change

This course will increase your understanding of organizational change and your skill in managing change. Additionally, this course will highlight the role played by having a positive attitude toward change as you endlessly encounter it while pursuing your own definition of success. Finally, this course also provides an integrative overview of many of the human issues, such as motivation, leadership, and control systems, that comprise the art of managing change.

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GM-8424 Entrepreneurship & Intrapreneurship

This course provides an understanding of entrepreneurship, the entrepreneurial process, and corporate venturing in a global setting with special emphasis on new venture creation and growth.

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GM-8464 Competing through People

This course explores the mix of organizational practices and people that can be the basis of sustainable competitive advantage in the contemporary global business environment. Topics covered include cross-cultural issues in managing people; traditional and emerging models of organizations; organizational culture; leadership; employee skills and motivation; reward systems; and change management.

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GM-8468 Competitive Strategy

This course explores the strategic management of the global firm. Readings, cases, group projects and discussions are used to present the analytical tools and techniques that support strategy formulation, and the related managerial skills and decision processes that foster strategy implementation in the global business environment. Topics covered include: industry analysis; competitor analysis, value chain management; competitive positioning; building core competencies; leveraging organizational resources; and corporate strategic management, including the role of alliances, mergers, and acquisitions.

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GM-8470 Global Strategy I

This course will offer a broad-brush picture of the inherent tensions that global organizations encounter in formulating and implementing strategy such as localization versus standardization, and centralization versus decentralization. The treatment of issues transcends the typical multi-domestic or international framework to address concerns of a transnational nature. The emphasis is on practically relevant tools of global strategic analysis and conceptual frameworks designed to improve understanding of strategy making in the global context. Contemporary developments in joint ventures, strategic alliances, cross-border mergers and acquisitions, and the management of the globally diversified organization will be addressed.

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GM-8472 Global Strategy II

This course is an integrative course that covers advanced strategy and finance. The course draws on multiple functional areas, theories, and skills. Our objective is to provide you with a rigorous and practical course that provides a deep understanding and familiarity with several key management areas. In strategy, we will discuss joint ventures, partnering, mergers and acquisitions, and strategic alliances. In finance, we will discuss issues concerning the evaluation of corporate financial performance and corporate valuation and financing including its applications to project financing, mergers & acquisitions, venture capital and real option analysis.

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GM-8473 Global Business Simulation

This course provides a simulation experience that draws on multiple functional areas, theories, and skills including, strategy, finance, cross-cultural communication and negotiation, business communications, and team building and leadership. You will be given information about an industry and information about two companies from that industry. One of the companies (the acquirer) is considering an acquisition of the other company (the target). You will be assigned to either a target or acquirer team to undertake the simulation exercise. Your task is to work in teams to design, develop, negotiate, value, finance, communicate, and execute a strategy for combining the two companies.

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GM-8486 Global Leadership

This course provides practical insights into those factors, both external and internal, which impact leadership effectiveness. Topics covered include the achievements of leaders, characteristics of leaders, leading across cultures, leading change and relationships between leaders and followers.

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GM-8505 Global Marketing Management

This course is designed to introduce the basic concepts of marketing management. The key focus is on identifying the marketing problems and decisions faced by organizations and to illustrate the application of marketing concepts to managerial decision-making. Key concepts such as segmentation, target marketing and positioning are addressed. Tools for linking marketing strategy, profitability and the marketing mix are provided. The course is designed to promote a deep understanding of current marketing practices, by using several theoretical frameworks, international case studies, and application exercises.

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GM-8506 Global Strategic Marketing

This course examines how the international market environment affects the design and implementation of a successful marketing strategy in global markets. The course is designed to provide the participants with an enhanced concept of the following: the international dimensions of marketing; conceptual frameworks to analyze the environmental uniqueness of each market with emphasis on the cultural, economic and political elements; skills in the discussion of such issues as business ethics, trade protectionism, marketing practices of MNCs, and transfer pricing; development of research skills in international marketing, especially in identifying information sources, data collection, analysis, report writing and presenting; and the ability to design, develop and implement a full-scale international marketing plan.

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GM-8519 Services and Relationship Marketing

This course provides an understanding of the unique aspects of the strategic marketing of services at a global level. Key topics include integrating the whole company to serve its customers, focusing on the customer’s creation of value, and managing satisfaction and loyalty for profitable customer relationships.

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GM-8602 Field Seminar in China

This course will offer an overview of market realities in China and tactics for successful competitive positioning and competition. Students will examine a variety of businesses and industries in Beijing and Shanghai to better understand these realities. Students will also participate in a variety of cultural and networking activities to build understanding and relationships to support future activities in this region.

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GM-8603 Contemporary Business in Asia

This course deals with the cultural, political, geographic, and economic context in which business activities take place in Asia. The issues examined in this course are the following: Cultural issues cover religious traditions and socio-cultural dimensions that have a direct impact on business operations; Political environment includes government structure, state role, interest groups, political parties and the policy-making process; Geographic environment involves human and economic geography, covering population and natural resource distributions, regional financial and trade centers, and transportation systems; For economic environment, economic policies, current economy patterns, and major industries are discussed. Current major geo strategic, political, and economic issues that have an impact on Asia’s business are also discussed.

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GM-8625 Field Seminar in Switzerland

This course based in Geneva, Switzerland, provides students the opportunity to visit major international organizations and firms and meet executives to learn firsthand about the role and functioning of global organizations such as the United Nations and the World Trade Organization, as well as the challenges and opportunities business leaders currently face in Switzerland.

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GM-8626 Field Seminar in Russia

 This course is based in Moscow and St. Petersburg, and provides students the opportunity to experience the unique business culture of Russia first hand. Visits to company headquarters, relevant ministries, and other centers off commerce and meetings with key figures in those arenas will showcase Russia’s twenty-first century resurgence. In particular, questions of how the Kremlin’s reassertion of control in certain economic sectors affects foreign participation and investment will be addressed.

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GM-8645 Contemporary Business in Latin America

This course is an introduction to the area of Latin America from perspectives useful to the international manager. The course begins with a brief geographical, demographic, and cultural overview of the region, and develops tools for analysis useful to assessing the Latin American business environment. The course then focuses on individual country cases such as Brazil, Argentina, and Mexico and possibly additional countries, to be determined by the instructor. The course also covers major free trade agreements (NAFTA, Mercosur, CAFTA, FTAA) and their implications for doing business in the region. The purposes of the course are 1) to provide the international manager with a general familiarity with Latin America; and 2) to develop analytical tools useful for understanding the region.

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GM-8646 Field Seminar in Brazil

This course provides students the opportunity to visit companies and meet executives and government officials to learn firsthand about the challenges and opportunities business leaders currently face in Brazil. Meetings with government officials will further enhance students’ understanding of the Brazilian business environment.

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GM-8663 Contemporary Business in North America

Contemporary Business in North America is an  introduction to the area of North America from perspectives useful to the international manager.  The course focuses on the United States, Canada, and Mexico. It provides a geographical, demographic, and cultural overview of the region, and develops concepts useful for assessing the North American business environment.  The course also covers major free trade agreements and their implications for doing business in the region. The purposes of the course are 1) to provide the international manager with a general familiarity with North America; and 2) to develop analytical tools useful for understanding the region.

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GM-8674 Field Seminar in India

India has garnered international attention as it  has shed the past shackles of a socialistic command economy, and rapidly become a high growth-seeking member of the BRIC (Brazil, Russia, India & China).  India is a land of sharp contrasts that is transforming itself from a primarily agricultural producer into a capitalistic nation focused on information technology, as well as low cost manufacturing. India is the worlds largest democracy with a large population of 1.3 billion people that seeks to be fed & clothed daily. Navigating a myriad of languages, cultures and regulations makes India a clear challenge to multinational hoping to provide goods & services to an expanding middle class.  This nine-day, 1.5 credit course, based in Delhi and Hyderabad, will provide students with an interesting comparison between a small nation seeking to diversify from its dependence on oil and gas and a large diversified country coping with stark disparities in income, resources and education.  This course would help students formulate answers to the following questions; (i) what are growth and risk management strategies for business leaders and policymakers in the region?  (ii) what are key drivers of cost and profitability and where are the bottlenecks-- how are they being addressed? (iii) what is the experience with entry points and strategies for value-enhancing engagement by global investors in the Indian market? Suggested topics for discussion and visits in Delhi include:  1. Durable consumer goods manufacturing--visit to LGs Noida factory producing air-conditioners, refrigerators to view work flow techniques.    2. Multinational service industry outsourcingDelhi suburb of Gurgaon is the home of many worldwide corporations seeking to tap the intellectual capital of India.  3. Medical outsourcingApollo hospital is the destination of worldwide travelers seeking low-cost medical procedures.  4. NGO grass roots organizations tackling poverty related problems in the slums.  5. Legal and regulatory challenges, contract enforcement--government entity, law firm.

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PD-8006 Personal and Professional Development Program

Personal Leadership Development begins with self-reflection and self-knowledge, and emanates from continuous learning as we interact with others. This is a skill-building course that includes experiential activities focused on self-awareness, dyadic (2-person) and small group/team interaction. Active participation in class is expected, as is a moderate amount of risk-taking as related to personal growth and sharing perceptions with others.

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