LBS logo London experience. World impact.

You choose three from a selection of around 40 elective subjects to tailor your learning experience and explore areas of interest in real depth.

 

Electives draw on the quality, depth and breadth of world-class faculty research. You choose the subjects that map most closely to your interests and learning objectives, and because the elective programme is offered across the full suite of LBS degree programmes, you have the opportunity to learn alongside other students from our MFA, MBA, MiF and leadership programmes – the benefit of learning alongside these students is that you get exposure to their real-world experience. You learn as equals alongside people who bring years of insight to the experience.

 

Expand your network, build a wealth of knowledge and flesh out your professional development.

 

Accounting

  • Advanced Financial Statement Analysis

    Lecturer: Eli Amir


    Cover the fundamentals of financial analysis, evaluate the quality of financial information and use the information to reveal the economics of firms.

  • Financial Analysis of Mergers and Acquisitions

    Faculty: Eli Amir


    Enhance your ability to relate economic events to financial treatment on this course, covering methods of accounting for corporate restructurings, issues related to goodwill, acquisitions provisions and tax and financial reporting implications.

    Faculty: Eli Amir


    Enhance your ability to relate economic events to financial treatment on this course, covering methods of accounting for corporate restructurings, issues related to goodwill, acquisitions provisions and tax and financial reporting implications.

  • Financial Statement Analysis

    Lecturer: Shivakumar Lakshmanan and Art Kraft


    Learn how to meaningfully interpret financial reports, construct measures of financial performance and analyse the reporting choices made by companies.
    Financial reports are the primary means by which managers communicate company results to investors, creditors and analysts. They are used to judge company performance, assess creditworthiness, predict future financial performance, and analyse possible acquisitions and take-overs.

  • Securities Analysis and Financial Modelling

    Faculty: Lakshmanan Shivakumar and Scott Richardson


    Planning a career in investment banking, consulting, equity research, credit analysis or fund management? This course is particularly appropriate for you and focuses on the tools and techniques of securities analysis and the development of a framework for making investment decisions.


    Learn about fundamental analysis ("bottoms up", firm-level, business and financial analysis) and develop financial models for determining the intrinsic value of a firm's stock.


    Your organisation’s financial statements provide the main source of information for analysis. Develop the analytical framework necessary to understand your business performance and financial structure, and learn how to produce a full financial model of your company.


    The framework can also be used by investors and outside analysts to appraise and value companies, as well as covering alternative methods of appraisal and valuation.

    Faculty: Lakshmanan Shivakumar and Scott Richardson


    Planning a career in investment banking, consulting, equity research, credit analysis or fund management? This course is particularly appropriate for you and focuses on the tools and techniques of securities analysis and the development of a framework for making investment decisions.


    Learn about fundamental analysis ("bottoms up", firm-level, business and financial analysis) and develop financial models for determining the intrinsic value of a firm's stock.


    Your organisation’s financial statements provide the main source of information for analysis. Develop the analytical framework necessary to understand your business performance and financial structure, and learn how to produce a full financial model of your company.


    The framework can also be used by investors and outside analysts to appraise and value companies, as well as covering alternative methods of appraisal and valuation.

  • Systematic Investing

    Faculty: Scott Richardson

    Gain an understanding of the valuation of securities that embed credit risk. With a focus on experiential learning, this course looks at corporate bonds, credit default swaps, credit indices, asset backed securities, emerging hard currency bonds and capital structure.

    Develop a sound knowledge of securities trading conventions, the determinants of the returns of these securities, the role of fundamental analysis and structural models in identifying mispriced credit securities and how risk and transaction costs affect your ability to build a portfolio of credit instruments.

Economics

  • Behavioural Economics and Decision Making

    Faculty: David Faro and Emre Ozdenoren


    Enable yourself to address systemic errors in management and consumer decisions, through an understanding of the reasons behind them.


    Biases in judgement can lead managers to overpay for acquisitions, persist in investing in losing projects, hire the wrong people and design products that result in customer dissatisfaction.


    Consumers make similar errors (overpaying for warranties, buying products they do not use and not buying ones they may later wish they had).

  • Emerging Markets

    Faculty: Elias Papaiannou and Paolo Surico

    Learn how to evaluate the risks and gains from doing business in the main emerging markets of Eastern Europe, Latin America, South East Asia and Africa using a detailed framework.

  • Global Capital Markets and Currencies

    Lecturer: Hélène Rey


    Obtain tools for assessing the impact of economic policy shocks and financial disturbances on financial markets, exchange rates, and capital flows.
    This elective is perfect for you if you have career interests in investment analysis, asset management, capital markets, hedge funds, corporate finance and the finance/treasury function of corporates. It would also suit you if you are seeking further understanding of the international macroeconomy.

  • Thinking Strategically

    Faculty: Jean-Pierre Benoit


    Forecast and understand the actions of your rivals and learn to formulate a good strategic response.


    Gain a working knowledge of the methods and results of modern game theory as applied to business strategy.


    Focus on strategic interactions between firms (such as product positioning, R&D competition and mergers), within firms (incentive contracts and bargaining), and between buyers and sellers (including asymmetric information, market design, vertical contracting and licensing).

  • Understanding International Macroeconomics

    Faculty: Lucrezia Reichlin and Vania Stavrakeva


    Familiarise yourself with the workings of the global economy and the main factors that determine the financial health of corporations and nations, including what makes countries rich and how technology affects the economy.

  • World Economy: Problems and Prospects

    Lecturers: Lucrezia Reichlin, Elias Papioannou, Paolo Surico, Andrew Scott and Vania Stavrakeva


    Deepen your understanding of the way the global economy is evolving by considering current topical issues.


    Gain further experience in economic analysis and develop knowledge of what the global economic environment is likely to be five years after graduating.


    Understand the likely behaviour of financial markets and the general business background as well as the issues facing governments in their policy choices.


    If you are seeking a career in finance, international consulting or have a general interest in global issues this is the elective for you.

Finance

  • Advanced Corporate Finance

    Lecturers: Alexander Guembel


    Discover how to apply the theoretical concepts covered in other finance courses to real-world corporate finance problems. Through cases and discussion of topical issues learn how to fill the gap between rigorous finance theory and its application to practical problems.

  • Banks and Financial Institutions

    Faculty: Christopher Hennessy, Ralph Koijen, Stefan Lewellwn, Narayan Naik


    Financial institutions are a large part of the economy of most countries, and their behaviour has a major influence on the entire economy and all companies, individuals, and governments.


    On this course you examine banks, insurance companies, and investment funds.


    Topics include the role of intermediation, the role of banks in the real economy, regulation and management of banks, valuation of financial institutions, the role and conduct of insurance companies, behaviour and management of mutual funds and hedge funds.

    Faculty: Christopher Hennessy, Ralph Koijen, Stefan Lewellwn, Narayan Naik


    Financial institutions are a large part of the economy of most countries, and their behaviour has a major influence on the entire economy and all companies, individuals, and governments.


    On this course you examine banks, insurance companies, and investment funds.


    Topics include the role of intermediation, the role of banks in the real economy, regulation and management of banks, valuation of financial institutions, the role and conduct of insurance companies, behaviour and management of mutual funds and hedge funds.

  • Behavioural Finance

    Lecturer: Samuli Knupfer

    Get a foundation in the two building blocks of behavioural finance:

    Limits to arbitrage – a response to the classic critique of behavioural finance that states irrational traders cannot have a long term impact on financial markets because rational traders will always reverse any dislocations through arbitrage.

    Psychology – understand the most common kinds of errors made by decision-makers through the psychology side of this elective.

  • Capital Markets and Financing

    Faculty: Francisco Gomes or Vikrant Vig


    Gain a broad conceptual and practical platform for analysing issues in corporate finance. Examine the financing activities of firms, how firms raise capital and the implications of various financial decisions. In particular examine equity issues, dividend policy, corporate debt, and hybrid forms of financing such as convertibles and warrants. This course also provides an introduction to options.

  • Credit Risk

    Lecturer: Stephen Schaefer


    Develop an in-depth understanding of credit risk and credit derivatives, with a focus on modelling and valuation. Understand the balance between developing a conceptual framework and market understanding and insight. Learn about topics including: historical default experience and recovery rates, applications of structural models and default-intensity models of credit risk and credit spread options.


  • Derivatives

    Faculty: Peter Feldhutter


    Become a skilled, informed user of derivatives. Acquire robust conceptual knowledge of the fundamental issues that determine the valuation and behaviour of these instruments, plus a thorough grounding in both the real-world details of the products and in the models used to analyse them. As mathematical models are central to both the existence and functioning of modern derivatives markets, the course is highly quantitative.

  • Equity Investment Management

    Faculty: Ralph Koijen


    Study the most important theoretical concepts in the field of investment management. Examine whether these theories are supported by empirical evidence, and identify the practical implications for investment professionals.


    The course emphasises topics where research provides an important message for professional management of the investment function. If you are working in investment or seeking to open up career opportunities in asset management, this elective is for you. It will also be valuable if you have contact with investors, fund managers, investment consultants or investment organisations.

    Faculty: Ralph Koijen


    Study the most important theoretical concepts in the field of investment management. Examine whether these theories are supported by empirical evidence, and identify the practical implications for investment professionals.


    The course emphasises topics where research provides an important message for professional management of the investment function. If you are working in investment or seeking to open up career opportunities in asset management, this elective is for you. It will also be valuable if you have contact with investors, fund managers, investment consultants or investment organisations.

  • Fin Tech

    Information coming soon.

  • Financial Engineering and Risk Management

    Lecturer: Suleyman Basak

    Gain the necessary skills to value and hedge a wide variety of derivative contracts. Take a systematic, unified approach to the pricing of derivatives and adopt cutting-edge methods throughout. Continuous-time mathematics is used as the main tool of analysis. The course is necessarily quantitative and symbolically oriented, although practical applications are emphasised.

  • Mergers, Management Buyouts and Other Corporate Reorganisations

    Faculty: Julian Franks or Stefan Lewellen

    Learn about the several forms of corporate reorganisations, including mergers and acquisitions, reorganisation through workouts and bankruptcy, divisional spin-offs and divestitures, and leveraged buyouts.

    Examine the process of managing reorganisation, the role of the investment bank and other specialists, regulation and cross-country comparisons. The course will have a strong conceptual approach, with an emphasis on why mergers and other reorganisations take place, what their role in the economy is, and how they perform from the viewpoint of shareholders and other parties.

    Real case studies and outside speakers will provide the applications of the course.

  • Project and Infrastructure Finance

    Lecturer: Karl Lins


    Acquire a framework for understanding the many ways in which project finance can mitigate specific risks and provide incentives, while also assessing the limitations of such structures.

  • Real Estate Finance

    Lecturer: Joao Cocco


    Gain the concepts and tools you need to understand real estate markets and manage real estate assets with a focus on value creation. Most of the course will focus on commercial real estate. Topics covered include valuation and investment analysis, financing, economic, legal, political and taxation issues and recent trends and challenges.

  • Topics in Asset Management

    Faculty: Bob Jenkins


    Take a tour of the world of investment management, learning about asset management in practice and prepare for a career in investment.


    Find out what jobs asset managers and their advisers actually do and what the challenges are as new ideas are adapted to meet the needs of customers and clients.


    Study the real jobs of analysts, quantitative specialists, strategists, fund managers, distributors, consultants, real-estate and hedge-fund professionals and investment advisors.

    Faculty: Bob Jenkins


    Take a tour of the world of investment management, learning about asset management in practice and prepare for a career in investment.


    Find out what jobs asset managers and their advisers actually do and what the challenges are as new ideas are adapted to meet the needs of customers and clients.


    Study the real jobs of analysts, quantitative specialists, strategists, fund managers, distributors, consultants, real-estate and hedge-fund professionals and investment advisors.

  • Value Investing

    Faculty: Eddie Ramsden


    Develop the ability to value companies and to find and appraise equity investment ideas. The primary teaching method will be the consideration of specific investments, both current and historic. This is an application-based elective with restricted places.

    Faculty: Eddie Ramsden


    Develop the ability to value companies and to find and appraise equity investment ideas. The primary teaching method will be the consideration of specific investments, both current and historic. This is an application-based elective with restricted places.

Management Science and Operations

  • Advanced Modelling for Business Applications

    Faculty: Nicos Savva


    Improve your ability to build, apply and evaluate decision models, tailoring your analysis to the available time and resources. Gain an encyclopaedic range of modelling applications and generate insights in a wide range of realistic solutions. Gain the ability to recognise the key problems in a situation and carry out a cogent analysis, the skill to develop a structure for problem analysis and the mental flexibility to present your analysis and insights in a convincing, non-technical way.

    Faculty: Nicos Savva


    Improve your ability to build, apply and evaluate decision models, tailoring your analysis to the available time and resources. Gain an encyclopaedic range of modelling applications and generate insights in a wide range of realistic solutions. Gain the ability to recognise the key problems in a situation and carry out a cogent analysis, the skill to develop a structure for problem analysis and the mental flexibility to present your analysis and insights in a convincing, non-technical way.

  • Data Mining for Business Intelligence

    Faculty: Tolga Tezcan and Nicos Savva

    This course covers the emerging field of business analytics (BA) or data mining. Expand and develop your tool kit analysing massive data sets. Using case studies and hands-on data sets, learn advanced data query techniques, data cleaning and organisation. Explore various machine learning techniques including supervised and unsupervised classification schemes, text classification, clustering techniques and predictive analytics. Gain hands-on experience with a variety of software tools, including Tableau and XLMiner.

  • Energy: Markets, Models & Strategies

    Lecturer: Derek Bunn

    Get an introduction to the basics of power system economics, a review of the structural and strategic changes affecting the industry, investment issues and technology choice, a basic understanding of how the competitive markets for electricity, both wholesale and retail, work and how to model their price and implications. The course focuses mainly upon electricity, but is also relevant to students wishing to be familiar with related issues affecting the oil and gas industry.

  • Innovating Business Models, Products and Services
  • Managing Sport and Entertainment

    Lecturer: Chris Voss

    Develop skills and understanding of the strategic, operational and marketing management of sport and entertainment. Enhance your strategic and operational thinking in this rapidly professionalising industry and unlock a potential source of future economic growth.

    The business, product and service concepts developed in this class can be pursued further in other entrepreneurship electives.

  • Project Management

    Faculty: Bert De Reyck


    Learn frameworks, methods, techniques and tools for coping with the three principal dimensions of successful project management: time, cost and quality.


    Gain hands-on experience with state-of-the-art software tools for project management, including time planning, resource allocation, and risk analysis, teamed with a strong emphasis on organisational and strategic issues.


    Projects are the wave of the future in global business, and project-based organisations are increasing in areas such as consulting, information technology, product development, advertising, education, healthcare, infrastructure and engineering.

    Faculty: Bert De Reyck


    Learn frameworks, methods, techniques and tools for coping with the three principal dimensions of successful project management: time, cost and quality.


    Gain hands-on experience with state-of-the-art software tools for project management, including time planning, resource allocation, and risk analysis, teamed with a strong emphasis on organisational and strategic issues.


    Projects are the wave of the future in global business, and project-based organisations are increasing in areas such as consulting, information technology, product development, advertising, education, healthcare, infrastructure and engineering.

  • Supply Chain Management

    Lecturer: Jérémie Gallien

    Understand how to develop and manage efficient and effective global supply chains. In today's globally competitive environment, it is no longer companies but supply chains that compete with each other.

    Leading companies such as Wal-Mart, Procter & Gamble, Dell, Amazon, Zara, GSK, IKEA, Deutsche Post/DHL, as well as highly profitable niche players, use supply chain management in their quest for global market leadership.

    Supply chain management is a cross-functional, cross-company initiative whether working in finance, accounting, marketing, sales or operations. Introduce and familiarise yourself with the concepts and skills necessary for supply chain management as a consultant, analyst or manager.

Marketing

  • Advanced Marketing Strategy

    Faculty: Puneet Manchanda or Rob Waiser


    Develop a comprehensive understanding of how marketing strategies can be developed and executed in dynamic and competitive global marketing environments.


    During this integrative course you bring together the marketing activities of creating, capturing and sustaining customer value in a variety of marketing contexts.


    Gain exposure to the most recent theories and methods, analytical techniques and current best practices for developing marketing strategies.


    The course is run as a block week and focuses on the interaction between the process of formulating, implementing and controlling marketing strategies and the various stages of the product life cycle.

  • Brand Management

    Faculty: Simona Botti


    Take one of the most applied and advanced brand management courses available anywhere in the world.


    Rather than focusing on academic theory, take an extremely managerial viewpoint. Explore all dimensions of brand management, from defining brands, brand building strategies, brand architecture and extension issues to brand repositioning.


    The course focus ranges from small start-up brands, consumer brands, service brands and B2B brands.


    The course is run as an intensive block week course, and includes a variety of teaching methods including guest speakers who are senior branding experts currently engaged in branding issues.

    Faculty: Simona Botti


    Take one of the most applied and advanced brand management courses available anywhere in the world.


    Rather than focusing on academic theory, take an extremely managerial viewpoint. Explore all dimensions of brand management, from defining brands, brand building strategies, brand architecture and extension issues to brand repositioning.


    The course focus ranges from small start-up brands, consumer brands, service brands and B2B brands.


    The course is run as an intensive block week course, and includes a variety of teaching methods including guest speakers who are senior branding experts currently engaged in branding issues.

  • Going to Market: Managing the Channel and Sales Force

    Faculty: Anja Lambrecht


    Learn the fundamentals of how to successfully design, manage and evaluate a company's channel and sales force strategy and tactics.


    Go-to-market decisions both affect and can only be taken in light of the overall marketing strategy, therefore we discuss the interaction of channel and sales force decisions with other marketing variables, such as branding, pricing, product characteristics or the product lifecycle.

    Faculty: Anja Lambrecht


    Learn the fundamentals of how to successfully design, manage and evaluate a company's channel and sales force strategy and tactics.


    Go-to-market decisions both affect and can only be taken in light of the overall marketing strategy, therefore we discuss the interaction of channel and sales force decisions with other marketing variables, such as branding, pricing, product characteristics or the product lifecycle.

  • Pricing Strategy and Tactics

    Faculty: Oded Koenigsberg

    Equip yourself with the fundamental tools and conceptual frameworks needed for making profitable pricing decisions across diverse industries.

    Taking the perspective of the marketing manager, explore both the strategic and tactical dimensions that underlie the process of price management and gain a grasp of useful theories and practical approaches for solving pricing problems.

    While the emphasis is on pricing, this is not independent of other marketing decisions, so an important challenge in this course is to consider pricing decisions in the context of other marketing activities, as well as marketing strategy.

  • Product Management

    Faculty: Lil Mohan


    Learn how to go about conceiving, designing, prototyping, building and successfully taking products to market, and how to product manage a portfolio of such products (globally), including ongoing product marketing and business development.


    By doing so, you will develop a deep understanding of what it takes to be a successful product manager - typically in a high tech company.

    Faculty: Lil Mohan


    Learn how to go about conceiving, designing, prototyping, building and successfully taking products to market, and how to product manage a portfolio of such products (globally), including ongoing product marketing and business development.


    By doing so, you will develop a deep understanding of what it takes to be a successful product manager - typically in a high tech company.

  • Social Media and Internet Marketing

    Faculty: Lil Mohan

    Examine the process of developing, implementing, and analysing strategies for successful marketing of a variety of existing and potential products and services using electronic media.

    Besides well-established internet marketing tools such as e-mail, search engines and display advertising, a substantial part of this course is dedicated to understanding social media, analysing successful social media strategies, and tracking their effectiveness.

    The course offers hands-on experience with some popular – as well as emerging – techniques, unique to electronic media. Special attention is given to metrics appropriate for the new media.

Organisational Behaviour

 

 

  • Employee Engagement and Positive Psychology

    Faculty: Dan Cable


    Poll after poll has confirmed that an astonishing number of workers are disengaged from their work. But more than ever before, organisations need employee creativity and engagement to win. Why is this happening? And how can we fix the problem?


    This class takes leaders into the minds of workers and reveals how the science of positive psychology can help restoring people’s zest for work. We look at the way organisations were invented in the industrial revolution, and why this prevents many employees from experimenting, feeling a sense of purpose, or experiencing positive emotions. As a result, they shut down.


    This class focuses on the small, inexpensive nudges that leaders can use to can help employees reach their fullest potential.

  • Inter-Personal Dynamics

    Faculty: Richard Jolly

    Develop your ability to build more effective relationships at work using evidence-based skills.

  • Leading Teams and Organisations

    Faculty: Michael Parke


    Learn how to lead effectively in a wide variety of situations by gaining an understanding of the general principles and processes of effective leadership.


    Covering a broad range of leadership situations, you gain critical leadership attributes underpinned with a robust understanding of group processes and the ways in which team members influence one another.


    Topics covered include understanding more about the nature of leadership, learning what separates successful business executives from their less successful counterparts and learning how to develop confidence as a leader.

  • Managing Change

    Faculty: Raina Brands

    Build your understanding of change management and your ability to implement it successfully.

    Change management is an increasingly fundamental part of business and a crucial skill for managers, whether the company is large or small, local or transnational.

    Gain the skills to plan for and cope with change and its implications.

    Coming up with the right strategy is only a small part of organisational success.

    You need to be able to cope with the hardest challenge: getting key stakeholders and people throughout the organisation not just to implement the strategy, but to own it.

  • Negotiation and Bargaining

    Faculty: Ena Inesi, Gillian Ku, Niro Sivanathan, Thomas Mussweiler, Selin Kesebir or Lisa Shu

    Gain a broad understanding of the central concepts in negotiation and develop strategies for analysing and preparing for negotiations.

    Practise negotiation skills, receive feedback on individual negotiation problems and improve your ability to analyse the behaviour and motives of individuals, groups and organisations in competitive situations.

    This course is suitable for anyone who communicates in their daily interactions with other people. It is also useful if you have interests in brand management, real estate, consulting, entrepreneurship or mergers and acquisitions.

Proposed



  • Elements of Machine Learning

    Faculty: Giuseppe Ragusa and Lucrezia Reichlin


    This course will introduce students to the modern tools needed for data science. Students will be exposed to the (Julia | Python | R) programming language. Using this computational environment, students will be exposed to data manipulation and cleaning techniques using the powerful packages for data munging such as DataFrames.jl and JuliaDB.jl (or the equivalent in Python or R).


    Students will then be introduced to applied machine learning, with a focus on the techniques rather than on the statistic underpinnings of these methods. Standard machine learning techniques will be covered both in supervised and unsupervised learning settings. The course will survey more advanced techniques, such as deep learning and its application to AI, with a business oriented focus. Practical limitations of predictive models for strategic decision will be also thoroughly discussed throughout this part of the course.

    Faculty: Giuseppe Ragusa and Lucrezia Reichlin


    This course will introduce students to the modern tools needed for data science. Students will be exposed to the (Julia | Python | R) programming language. Using this computational environment, students will be exposed to data manipulation and cleaning techniques using the powerful packages for data munging such as DataFrames.jl and JuliaDB.jl (or the equivalent in Python or R).


    Students will then be introduced to applied machine learning, with a focus on the techniques rather than on the statistic underpinnings of these methods. Standard machine learning techniques will be covered both in supervised and unsupervised learning settings. The course will survey more advanced techniques, such as deep learning and its application to AI, with a business oriented focus. Practical limitations of predictive models for strategic decision will be also thoroughly discussed throughout this part of the course.

Strategy and Entrepreneurship

  • Achieving Strategic Agility

    Lecturer: Julian Birkinshaw


    Learn how to craft strategy when the future is uncertain, fast-changing and unknowable to meet the need for strategic agility to adapt quickly in the face of ever changing market conditions.


    Discover how to structure companies to be more agile and engage and motivate employees across an organisation to help identify and act on opportunities.

  • Advanced Competitive Strategy

    Lecturer: Sendil Ethiraj


    Build a rigorous, analytical, and quantitatively grounded understanding of strategic management by learning strategy from the perspective of a strategist as an integrator on this course.


    An integrator has a good understanding of the different functions in an organisation, how they relate together, and how to effect changes in the organisation that tighten both internal and external consistency.


    This course builds on the foundation you built in your strategy core course - internal and external consistency in choices inherent in a firm’s business model is at the heart of competitive advantage.

  • Corporate Strategy

    Faculty: Donal Crilly and Dominic Houlder


    Gain insight into the nature of corporate – as opposed to business – strategy. Many companies are not single businesses but 'groups', comprising a portfolio of more or less separate business units and one or more levels of 'corporate' management.


    Also learn how to assess corporate strategies and develop superior ones. If you intend to become a strategy consultant or investment banker or to work in – and eventually lead, multi-business groups – this course is particularly useful.

  • Family Business: A Guide for Owners, Managers and Advisors

    Family firms make up around 70% of businesses worldwide and account for a substantial proportion of GDP. Many of the world’s leading corporations originated as family firms, and retain cultural distinctiveness as a result. In some parts of the world, such as South Asia and the Far East, family firms occupy the commanding heights of the economy. Yet they are neglected in the management literature, and often treated as if they were a relic of the past. However, as the current financial crisis is illustrating, with their long time scales, adaptive cultures, and vision-led leadership many are much better fitted to survive the downturn in good shape than many PLCs.

    Yet, we also know that family firms are vulnerable to challenges and conflicts they seem unique to them. It is probably true that the firms that can face up to and master these challenges emerge as “annealed” (the process by which heating metal permanently raises its strength and resilience). So the question is what do family firms have to do to capture their unique benefits and master their special challenges.

    This will be an intensely practical course, but founded on a solid knowledge base, making extensive use of mini cases and guest speakers.

  • Financing the Entrepreneurial Business

    Faculty: Antony Ross, Martyn Williams, Keith Wiley and Ben Hallen


    Explore the issues and practices of financing entrepreneurial businesses, including start-ups, emerging growth companies, management buy-outs and buy-ins.


    The course covers raising finance, pricing and structuring financings, and exiting from the points of view of the entrepreneur and the investor.


    This elective is perfect if you want to start, buy or run your own businesses, work in the venture capital industry, provide financial or consulting services to entrepreneurial companies or learn about personal investing in privately-held companies.

    Faculty: Antony Ross, Martyn Williams, Keith Wiley and Ben Hallen


    Explore the issues and practices of financing entrepreneurial businesses, including start-ups, emerging growth companies, management buy-outs and buy-ins.


    The course covers raising finance, pricing and structuring financings, and exiting from the points of view of the entrepreneur and the investor.


    This elective is perfect if you want to start, buy or run your own businesses, work in the venture capital industry, provide financial or consulting services to entrepreneurial companies or learn about personal investing in privately-held companies.

  • Growing Social Enterprises

    The course sets out to explore what is unique about social enterprises. This new organizational form holds the promise of tackling some of society’s thorniest problems that traditional businesses have ignored in more efficient ways than traditional charities. For investors, it represents an evolution in corporate philanthropy as the original intent to contribute to society is fused with an investment approach to capital allocation. As a result, substantial amounts are directed toward the nascent market in social impact investing. Are the conditions present for this market to grow systematically or is this a passing fad? Are the entrepreneurial and management skills necessary to start and manage social enterprises different from those required for either traditional businesses or charities? What options are available to social businesses when their self-interest conflicts with their pursuit of social impact?

    This course aims to provide students with the analytical frameworks and tools for creating, managing, or investing in business ventures that tackle social issues. It will establish a solid understanding of the context in which social enterprises thrive and will debate topics that are relevant to investors, entrepreneurs, and managers in this field. The increased interest in this area has brought about new legal forms, specialist fund providers, and intricate assessment criteria. It has highlighted the importance of scaling up as an issue that is crucial to investors and challenging to stakeholders and managers. In this context organizational governance plays a vital role to resolve tensions that arise between social and private ends and to preserve the identity of a social enterprise.

  • Managing the Growing Business

    Faculty: Rupert Merson and Keith Willey

    Examine a range of entrepreneurial businesses and gain the ability to recognise the patterns in business models and management processes.

    Learn how to manage the risks and convert opportunities on this integrative course that concentrates on the general management challenges facing founders or managers in entrepreneurial businesses.

  • Mergers, Acquisitions and Alliances

    Faculty: Marcus Alexander, Dovey Lavie and Alex Knaster


    Analyse the strengths and weaknesses of mergers, acquisitions and alliances as strategic vehicles.


    Conduct a deep analysis of how firms can best manage these processes as part of a larger strategic agenda.


    Globalisation, deregulation, and technological progress have increased the rate of change and competitive intensity.


    Many firms now need to rely on mergers, acquisitions or alliances to be successful.


    This course draws upon leading practice and the most recent research to analyse MAAs along a series of important dimensions related to this interplay.

  • New Venture Development

    Faculty: Rupert Merson

    Get an overview of the process and challenges associated with starting an entirely new business, the skills required to prepare a persuasive business plan, approach prospective investors and launch your venture.

    Gain a clear understanding of how to assess an entrepreneurial opportunity, the resources needed to start a new business and the costs and challenges involved.

    Give an entrepreneurial bias to your career using this course as a springboard.

    A number of graduates who have taken the New Venture Development course and gone on to set up their own business or pursued careers in venture capital.

  • Strategic Innovation

    Lecturer: Costas Markides


    Develop an understanding of how a company can discover a new business model and how it can successfully migrate from its current position to the new.

    Explore why established companies find it so difficult to innovate strategically and what they can do to improve the odds of success.

    Gain an understanding of the circumstances where it makes sense for established companies to strategically innovate.

  • Strategies for Growth

    Lecturer: Freek Vermeulen

    Get answers to the question that keeps most top executives awake at night: "where should tomorrow's growth come from?"

    Learn how to create the growing firm, and how growth strategies are not always 'designed' by managers but emerge from within an organisation.

    Analyse how effective managers organise their companies to achieve continuous, organic growth.

    Examine the firm's formal strategic choices, its internal organisational environment, the process of growth, and the role of historical accident and the background and personality of the managers involved.

    You will learn how, as a manager, you can shape your organisation to deliberately manage and control the growth process of the firm.

  • Global Strategy

    Faculty: Donal Crilly


    Identify and measure the primary differences that exist between countries and their implications for strategy. Analyse and recommend market entry strategies, understand the benefits and challenges of international sourcing, be familiar with major sources of data on the economic, cultural, and politicial dimensions of countries/regions, and have an informed view on emerging themes relevant to global strategy (including emerging market multinationals, global e-business and organisational repsonses to Brexit).

  • Luxury Strategy

    Faculty: Stefano Turconi and Dominic Houlder


    The global luxury goods industry is becoming increasingly complex and competitive. New players are challenging the established rules of the game with novel solutions and disruptive business models. Quickly shifting trends have slashed the shelf life of many products from months to weeks, or even days. Geopolitical, economic, and cultural forces are reshaping the geography of luxury consumption. Technology is changing the way consumers interact with brands. More and more consumers are dividing their spending between luxury and cheap chic. In addition to the prestige of a label, they demand faster innovation, greater value, and customised service. As a result, many companies are struggling to adapt their strategies whilst managing costs and delivering adequate returns.


    The purpose of this course is to help students navigate the complexity of the luxury ecosystem and equip them with strategy tools and frameworks to overcome the challenges that they may face while working in this industry.

  • Managing a Digital Organisation

    Faculty: Julian Birkinshaw and Farhan Lalji.


    The top seven companies by market capitalisation in the world and the vast majority of unlisted ‘unicorn’ companies (i.e. those valued at over $1 billion) are players in the digital economy: they sell primarily digital products (or hardware for accessing digital products), they operate with platform-based business models that give them increasing returns to scale, they have few tangible assets and they employ relatively small numbers of people.


    The purpose of this course is to help students understand the differences between industrial and digital organisations, and to provide them with frameworks and practical advice for how to manage and work in digital organisations. The course will provide students with an understanding of how digital products are built, deployed, marketed, sold and scaled - this understanding will be valuable for working in digital organisations or taking digital skills to traditional industrial organisations.

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