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WWW.SBS.OXFORD.EDU DIPLOMA IN FINANCIAL STRATEGY UNIVERSITY OF OXFORD EDUCATING LEADERS FOR 800 YEARS

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Page 1: Dip Fin Strat Oct 09-Oxford University

WWW.SBS.OXFORD.EDU

DIPLOMA IN FINANCIALSTRATEGY

UNIVERSITY OF OXFORD

EDUCATING LEADERS FOR 800 YEARS

Page 2: Dip Fin Strat Oct 09-Oxford University

The Diploma is for experienced fi nance practitioners and senior managers. The programme is rigorous and intellectually challenging. It provides graduates with the fi nancial acumen of an investment banker, the strategy techniques of a consultant, and the business knowledge of a fi nance director. It complements existing qualifi cations and contributes towards professional CPD requirements. The Diploma programme is based on four fast moving modules of teaching from world leading experts in strategic management, fi nance, and corporate valuation.

THE OXFORD DIPLOMA IN FINANCIAL STRATEGY02

THE BRIDGE TO BOARDLEVEL PERFORMANCE

The Oxford Diploma in Financial Strategy is a post-graduate qualifi cation that provides expertise in fi nance, strategy and corporate valuation. It is a unique opportunity to broaden and enhance skills and professional experience while gaining an Oxford qualifi cation.

The Saïd Business School is a fully integrated part of the University of Oxford. Since it was founded in 1996, the School has become fi rmly established as one of the most prestigious business schools in the world. It is modern, dynamic and at the forefront of business and fi nance research, yet is grounded in centuries of academic tradition. Our admissions process is highly selective and brings together an extra-ordinary group of high achievers from a wide variety of countries and industry sectors.

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“ The Oxford Diploma in Financial Strategy is an opportunity for fi nance professionals to acquire an Oxford qualifi cation and experience the intellectual challenge of a masters-level programme. Participants develop a thorough understanding of the principles of fi nance, strategy and valuation which enables them to take their careers to the highest level.

The study of fi nance is at the core of the Saïd Business School’s mission. This postgraduate diploma, and the professionals who take it, make a signifi cant contribution to its success.”

A MESSAGE FROMTHE DEAN

Professor Colin MayerDean, Saïd Business School

University of Oxford

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04 THE OXFORD DIPLOMA IN FINANCIAL STRATEGY

STRATEGYStrategy is the art of creating superior performance. It defi nes the business the organisation is in, and how to structure and manage the organisation for long term success. This module explains the process and practice of formulating the strategy of individual business units – competitive strategy – and the nature of strategy for the multi-business fi rm – corporate strategy.Participants develop the ability to apply

PROGRAMME OUTLINEThe Saïd Business School has particularly rich expertise in the areas of fi nance and strategy. The Oxford Diploma in Financial Strategy draws these together to provide professionals with a distinct intellectual edge combined with a practical understanding of business and value creation.

THE MODULE WILL COVER:

Goals and Strategies

Competitive Advantage

Industry Analysis

Strategy and Change

Diversifi cation

Global Strategy

Managing the Multi-business Company

Strategy Process and Practice

The Diploma is completed alongside participants’ full-time role. The programme consists of four core modules interspersed by independent study and project work. Each module is taught over four days of intensive teaching at Oxford, concentrating on one subject at a time. The project then integrates and applies the insights gained to an area of particular interest to the participant or their organisation.

strategy models in the structured analysis of business issues and to devise and evaluate future plans of action. They consider how organisations align internal resources and capabilities with the external competitive and macro-economic environment to formulate strategy. Participants develop the analytic skills of a strategy consultant and the ability to present, defend and interrogate proposals in strategic decision-making.

FINANCE IThis module identifi es the sources of investor value, and uses them to think about portfolio composition, investment choices, and corporate fi nancial decisions. Participants acquire a detailed understanding of risk and return. They use the Capital Asset Pricing Model as the framework for a detailed discussion of portfolio theory and the cost of capital.

THE MODULE WILL COVER:

Introduction to Finance

Risk, Return, and Portfolio Theory

The Capital Asset Pricing Model and the Cost of Capital

Cash Flow Analysis and Project Appraisal

Financing Choices and Shareholder Value

Taxation and Corporate Finance

Corporate Governance

The insights generated from this analysis are employed in a discussion of cash fl ow analysis and its application to investment appraisal, and to business entry and exit decisions. The corporation’s fi nancing choices are related to tax considerations and to a wider discussion of agency effects within the fi rm.

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FINANCE IIIn this module we study applied topics which exemplify the key principles of finance. Participants develop an understanding of how and why firms go public, raise equity and debt, acquire each other – and go bust. We also study financial options and risk management techniques,

THE MODULE WILL COVER:

Equity Capital Raising

Mergers and Acquisitions

Financial Options

Debt and Credit Ratings

Private Equity

Restructuring

Risk Management

focusing on their use in corporate finance. These topics inform participants’ understanding of principles such as asymmetric information, principal-agent problems and market efficiency.

CORPORATE VALUATIONThis concluding module incorporates knowledge developed throughout the programme and provides the in-depth understanding and ability to make optimal strategic investment decisions. In explaining the mechanics of corporate valuation, we also discuss how to create (and destroy) corporate value. We demonstrate that valuation is not a precise science, and that the strategic fi t and successful integration of projects is as important as the calculation and analysis of a number.

THE MODULE WILL COVER:

Fundamentals of Valuation

DCF and Project Analysis

Valuing Human Capital

Value Creation

Relative Valuation

Valuation in a Competitive Environment

Valuation Under Financial Distress

Valuation in a Private Equity Setting

The programme sharpens valuation skills in a variety of contexts including the valuation of human capital, fi rms in fi nancial distress, valuation in a competitive environment and in a private equity setting. Applications include large-scale investment projects, brand launches, venture capital investments, IPOs, mergers, diversifi cation decisions, R&D, and joint ventures.

BUSINESS PROJECTThe Diploma concludes with a project report that integrates and applies new insights gained from the taught modules. The report should be up to 10,000 words and based on a strategic or fi nancial issue facing the participant’s organisation or sector. The subject is selected by the participant, ensuring that they or their organisation can directly benefi t from the programme by this valuable piece of consultancy work. Participants are allocated an expert supervisor to help them structure their project and research.

ACADEMIC ASSESSMENTAll four modules are assessed, either by a project or a written examination. Examinations are scheduled within the module dates. Participants must successfully pass all four modules and the business project report to be awarded the Diploma qualifi cation.

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06 THE OXFORD DIPLOMA IN FINANCIAL STRATEGY

BENEFITS FOR PARTICIPANTS

Develop world-class strategic and fi nancial management skills

Build on existing knowledge, qualifi cations and experience

Acquire the strategic perspective to progress to the highest level

Access the latest research and thinking in fi nance and strategy with world-leading Oxford University faculty

Exchange experiences, generate ideas and discuss strategic issues with a senior fi nancial peer group from around the globe and across sectors

Exposure to the top ranks of the business world via seminars, guest lectures and other networking opportunities

Join the Oxford Business Alumni with access to a global network of Oxford University graduates in business

WHY THIS PROGRAMME?The Diploma is a unique education programme that allows experienced executives to undertake high level professional development alongside a senior level role and to gain a postgraduate Oxford qualifi cation.

BENEFITS FOR EMPLOYERS

The modular format enables participants to integrate study into their working lives, while remaining a productive and contributing member of the management team

Participants can apply their learning directly, adding value to their organisation from the fi rst module

Participants gain increased expertise and confi dence, enabling them to impact directly on strategic business decisions

Employer involvement in the Business Project is encouraged and contributes to the expertise available to the organisation

OXFORD EXECUTIVE POSTGRADUATE DIPLOMAS Launched in 2006, the Diploma in Financial Strategy was the fi rst in this series of qualifi cations which offer executives the opportunity to study at MBA level in the areas of most interest and relevance for their career.

The series also includes the:

Diploma in Organisational Leadership

Diploma in Strategy and Innovation

Diploma in Global Business

PATHWAY TO THE EXECUTIVE MBAMany Diploma participants hold an MBA on entry, some will further broaden their knowledge by progressing onto this afterwards. Participants who graduate from the Diploma in Financial Strategy and successfully apply for Saïd Business School’s prestigious Executive MBA (EMBA) programme will receive exemptions from four EMBA modules. They also receive a reduction in EMBA fees of half the Diploma programme fee.

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“I decided to take the Oxford Diploma in Financial Strategy to update and perfect my knowledge since my MBA taken 20 years ago and my PhD six years ago. The experience in Oxford is unique and extraordinary. The modules are excellent on theoretical and practical levels.

I particularly enjoyed Professor Morrison’s Finance I module, which helped me re-build a strong theoretical foundation for the application of project evaluations and investment decisions. The leveraged buy-out techniques in Finance II were also a very useful tool for evaluating M&A projects for my fi rm.

Classmates are all elites in the fi nancial and banking industries. I treasured the opportunity of discussing strategic issues with

ALBERT LIInvestment Banking

them. The Diploma is defi nitely worthwhile, even to those with extensive experience in corporate fi nance or investment banking.”

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THE DIPLOMA CANDIDATE

The programme is designed for senior fi nance professionals with a good fi rst degree and at least fi ve years’ experience. Participants are likely to be middle or senior managers seeking to reinforce their skill set and equip themselves to lead the fi nancial and business strategy of their organisation. Participants learn as part of a highly experienced and qualifi ed group from across the globe. They represent all industry and public sectors, in addition to fi nancial services, and range from independent specialist consultancies, through medium-sized businesses, to multinational corporations and fi nancial institutions. The unique group offers an unparalleled opportunity for peer-to-peer learning, high level discussion and international networking.

YEARS OF EXPERIENCE0% 10 20 30 40 50

30+ YEARS 5

21 TO 25 YEARS 14

16 TO 20 YEARS 8

11 TO 15 YEARS 32

5 TO 10 YEARS 41

QUALIFICATIONS ON ENTRY0% 7 14 21 28 35

UNDERGRADUATE DEGREE 14

PROFESSIONAL QUALIFICATION 34

MASTERS DEGREE 25

MBA 18

PHD 9

GLOBAL PARTICIPANTS0% 10 20 30 40

AFRICA 5

AMERICAS 16

ASIA 6

EUROPE (NOT UK) 28

MIDDLE EAST 9

UK 36

08 THE OXFORD DIPLOMA IN FINANCIAL STRATEGY

I am Head of Business Partnering and Reporting for Shared Services at Skandia UK. My role is diverse and covers many aspects of fi nance, from sales reporting to risk management of fi nance to all the statutory and regulatory reporting for the UK group. I came on the Diploma in Financial Strategy to stretch myself and improve my capability at the strategic level. I believe that it is essential, particularly in today’s climate, to be able to understand the bigger picture and analyse proposals which will help Skandia meet the ever changing needs of the market. I found the programme rigorous and intellectually challenging.

The quality of the teaching faculty is exceptional and it is a privilege to be part of the Oxford world. For me, an unforeseen and invaluable benefi t was the opportunity to meet so many people from different geographical and professional backgrounds and to debate issues and form relationships with them. I liked the fact that the programme is introduced with the business strategy module. It really set the scene for the rest of the programme and provides the wider context and foundation for the application of the fi nancial aspects. Some of the material was a refresh from professional training

and other material was entirely new which I found stretching and enjoyable. The programme has widened my knowledge and challenged some of my original ideas and assumptions. It has helped to lift me out of my specialist area and show how I can help others see how the fi nancial strategy supports the overall business strategy and aims of the organisation.”TESTIMONIAL

LYNZI HARRISONFinancial Services

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COMPANIES WHO HAVE BEEN REPRESENTED ON THIS PROGRAMME INCLUDE:

Aareal BankAbbey NationalAbu Dhabi Commercial BankAlmondz Global Securities LtdB G GroupBank Of AmericaBank Of Scotland TreasuryBarclays Bank PlcBMW PolskaBovis Lend LeaseBP PlcBritish Red Cross SocietyBritish TelecomCaliber Capital MarketsCBS Outdoor LtdCitigroup – Corporate & Investment BankingClose Ventures LtdCorbina TelecomCredit SuisseDexia Private Bank (Switzerland) Ltd

DLA Piper LLPDTZ PlcEastern Power CorporationElectricite du Cambodge (EDC)EMAAR, The Economic CityEMI Group PlcErnst & YoungFinancial Services AuthorityFirst Asia Finance Group LtdFriends ProvidentG E HealthcareGDF SUEZ – ElectrabelGeneral ElectricGenworth FinancialGolden Union Shipping Co Haynes IncHBO Latin America GroupHiscox plcHypo Alpe-Adria-Bank IBM Global Business ServicesIsle of Man GovernmentIttihad International Investment LLCJersey TelecomLCH Clearnet LtdLive Nation MusicLogicaCMGM A PartnersMain Investments LtdManagement Consulting Group PlcMarathon Capital Holdings IncMeltwater GroupMizuho Corporate BankNational Bank of DubaiNationwide Building SocietyNew Vision Enterprises LtdNewBridge Group IncNutricia Ireland Ltd (Danone Group)NXT PlcOrange Personal Communication ServicesOxera Consulting LimitedOxfam GBPricewaterhouseCoopersSAB Miller PlcShell International LtdSkandia UKSociete Generale Corporate & Investment BankingSony BMG Music Entertainment (UK) LtdStratley AGSumitomo Mitsui Banking Corporation EuropeSwiss International Airlines AGSwisscom AGTMF Management Ireland LtdTransport For LondonVenCap International plcWhitehaven Financial GroupZenith Corporate Finance

JOB TITLES OF PARTICIPANTS ON THIS PROGRAMME INCLUDE:

Asset ManagerAssistant Vice PresidentAssociate DirectorAssociate PartnerBusiness Performance ManagerCEOChairmanChief AccountantChief Financial OfficerChief Investment OfficerConsultant PartnerCorporate Financial ManagerDirectorDirector of Strategic PlanningDirector of Capital MarketsDivisional Financial ControllerEnterprise ArchitectEquity Finance TraderFinance DirectorFinance ManagerFinancial AccountantFinancial AnalystFinancial ManagerFinancial Policy AnalystFinancial Risk ConsultantGroup Finance ControllerHead of Business ReportingHead of DepartmentHead of Group Accounting & ReportingHead of Internal AuditHead of OperationsHead of Regulatory ReportingInternal AuditorManagement ConsultantManager Credit Treasury SyndicationManaging DirectorOwnerPortfolio ManagerPresidentRegional Finance DirectorSenior AnalystSenior AssociateSenior Business AnalystSenior Business Consultant – RiskSenior ConsultantSenior Finance ManagerSenior Investment ManagerSenior M&A AdvisorSenior ManagerSenior Vice PresidentStrategic Planning ManagerTreasury AnalystTreaty UnderwriterUK Financial ControllerVice PresidentVP, Financial Planning Analysis

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10 THE OXFORD DIPLOMA IN FINANCIAL STRATEGY

FACULTYThe Diploma is taught by members of Oxford’s outstanding fi nance and strategy faculty team. The programme leaders bring access to world- leading research and a wealth of industry experience.

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HOWARD JONESFinance, Academic Director Dr Howard Jones joined Oxford from a successful 15-year career in investment banking at Deutsche Bank and BNP Paribas. He was Worldwide Head of Equity Capital Markets, responsible for equity and equity-related capital raising. He earlier worked in debt capital markets and fi xed income trading. Howard teaches the Capital Raising Techniques, and Trading and Market Microstructure courses on the Oxford MBA and MSc in Financial Economics and has particular expertise and experience in IPOs and primary markets.

ALAN MORRISONFinance Professor Alan Morrison is a leading expert on corporate fi nance, corporate governance and regulation. He is the author of numerous publications, including a book on the future of investment banks. Alan read mathematics at Brasenose College, Oxford prior to spells in Andersen Consulting (now Accenture), Morgan Grenfell and SG Warburg. He is a Fellow of Merton College and a regular consultant to corporations, public bodies and governments and was recently specialist advisor to the House of Lords Treasury Select Committee.

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JOSE MARTINEZFinance Dr Jose Vicente Martinez is a University Lecturer in Finance and Fellow of Green Templeton College. He obtained his PhD in Finance from Columbia Business School, holds degrees from Universidad Nacional de Rosario and Universidad Torcuato Di Tella and has been a researcher at the Institute for Financial Research in Stockholm. His professional experience was gained in Prudential Financial’s Buenos Aires offi ce. Jose specialises in capital markets, asset pricing and investor behaviour.

HAN OZSOYLEVFinance Dr Han Ozsoylev is a University Lecturer in Financial Economics at the Saïd Business School, and Fellow of Linacre College. He teaches the core managerial economics course on the Oxford MBA. His current research deals with communication in markets and its economic consequences, questions related to market manipulation, and the causes of crashes and frenzies.

MUNGO WILSONFinance Dr Mungo Wilson joined Oxford after gaining experience as professor of economics at Asia’s leading business school, Hong Kong University of Science & Technology. His research interests include asset pricing and mutual funds. Prior to obtaining his PhD from Harvard, he practised law in the City of London, and earned degrees from London School of Economics and Oxford.

THOMAS POWELLStrategy Professor of Strategy at the Saïd Business School, Thomas Powell’sresearch centres around competition, strategy and fi rm performance. He has published extensively in management journals, consults globally oncompetitive strategy and is a member of the Strategic Management Society. Professor Powell teaches on our MBA andMSc programmes.

RICHARD WHITTINGTONStrategy Richard Whittington, Professor of Strategic Management, teachesstrategy courses and heads the Strategy, Entrepreneurship andInternational Business Group at the Saïd Business School. Amongst his nine books are the prize-winning ‘What is Strategy – and Does it Matter?’ and the biggest selling strategy textbookin Europe, ‘Exploring Corporate Strategy’.

KATHY HARVEYDirector, Open Enrolment and Diploma Programmes Kathy Harvey is responsible for the development of postgraduate diplomas and open programmes at Saïd Business School. She has extensive experience of working with senior executives from international organisations, and has worked closely with clients in banking and fi nancial services to deliver management development programmes. Kathy began her career as a BBC journalist and has written for a variety of publications, including the Independent, Financial Times and Sunday Times.

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PRIVATE EQUITY FORUMOrganised by the Oxford Private Equity Institute at the Saïd Business School, the Private Equity Forum addresses the opportunities and challenges facing global investors in today’s dynamic environment. Previous panellists have included: Christopher Spray of Atlas Ventures; Edmund Lazarus of Englefield Capital; Jonathan Blake of SJ Berwin; Markus Golser of Graphite Capital; Robin Jarratt of CVC Capital Partners, and Joe Haim of Egon Zehnder.

SILICON VALLEY COMES TO OXFORDOnce a year the Saïd Business School invites technology business leaders, entrepreneurs, venture capitalists and others from Silicon Valley, California, to come to Oxford and take part in master classes and panel discussions. These classes give valuable insight

12 THE OXFORD DIPLOMA IN FINANCIAL STRATEGY

NETWORKSFor centuries, the University of Oxford has produced some of the most infl uential and respected people in business. Oxford graduates are represented in every Fortune 500 Company, country and government in the world.

into up and coming technologies as well as providing networking opportunities with key members of the Silicon Valley business community. Previous guests have included: Max Levchin, Chief Technical Officer at PayPal; Raymond Nasr, Director of Executive Communications, Google Inc and Jeff Skoll, co-Founder and President of Ebay.

THE SKOLL WORLD FORUM ONSOCIAL ENTREPRENEURSHIPOrganised by the Skoll Centre for Social Entrepreneurship, the Skoll World Forum is the leading annual global event for social entrepreneurs. Previous speakers have included: Mohammed Yunus, Founder of the Grameen Bank and pioneer of microfinance initiatives in the developing world; Penny Newman, CEO of Café Direct, and Will Hutton, CEO of The Work Foundation.

THE OXFORD BUSINESS ALUMNIThe Oxford Business Alumni provides a focus for Oxonians who have a special interest in the world of business. Regional chapters span every continent across the world. As a member, graduates of the Oxford Diploma in Financial Strategy will be entitled to access the alumni search directory, an invaluable tool for networking with organisations throughout the world. Alumni are invited to attend regular seminars, lectures and other networking events, giving current participants and alumni the chance to meet, exchange ideas and get to know each other.

I own my own company advising governments or companies on fi nancial matters. I am currently advising the government of Kazakhstan on restructuring their banking sector, with specifi c responsibility for two banks with US$18bn under advisory. I attended the Diploma in Financial Strategy because I wanted to re-test my fi nancial knowledge and re-challenge certain concepts. It is good to test yourself with colleagues who have a lot of experience. It’s one thing to learn the theory when you are 21 but quite another when you revisit those concepts with 17 years of

experience under your belt.The programme piqued my interest to the point that I progressed onto the full Oxford Executive MBA. I found it an effective academic foundation and the class around me provided a challenging overlay. Bonds were forged which made the programme truly memorable. The entire group was one you would want to be associated with and we worked in a very conducive environment. If you are considering taking the Diploma, my advice would be do it, but be aware that it is going to be harder than you thought – which is a good thing.”

MARCIA FAVALE-TARTERFinancial Consulting

THE SAS DISTINGUISHEDSPEAKER SERIESThe SAS Distinguished Speaker Series provides a further opportunity for all students of the School to meet with leaders in business on an open and informal basis. Speakers are normally CEOs, chairmen or founders and have included: Sam Laidlaw, CEO of Neptune Oil & Gas; Hector Sants, CEO of the Financial Services Authority; Richard Greenhalgh, Chairman of Unilever; Roland Berger, Founder of Roland Berger & Co and Carl-Henric Svanberg, Chairman of BP.

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FIRST CLASS FACILITIESThe Oxford Diploma in Financial Strategy is taught at the Saïd Business School. The School’s state-of-the-art building in the centre of Oxford opened in 2001 and was designed by Dixon and Jones, the architects responsible for the new Royal Opera House in London.

The School’s Library and Information Services comprise the two-floor Sainsbury Library onsite and the award-winning Virtual Library for remote access to a wealth of business information. The lower floor contains a short loan collection, informal seating area and study desks equipped with PCs. The upper reading room, with its distinctive vaulted ceiling and impressive views, is intended for quiet research and holds 90 fully-networked study desks. Most classes take place in wood-panelled lecture theatres, with desks arranged in a horseshoe pattern to facilitate open discussion. There are numerous seminar rooms for small group work.

There are numerous open spaces throughout, including cloistered walkways and a large internal courtyard which help foster informal interaction between students, faculty and visitors. The Common Room is a relaxed area for easy socialising with fellow students, faculty and staff. Floor-to-ceiling windows look out onto the School’s landscaped grounds which contain the remains of Rewley Abbey, the very first seat of learning in Oxford. During the summer students can also relax in the internal courtyard or the 300-seat amphitheatre with excellent views of the surrounding countryside.

“Each module was very practical, energetic and informational. The class profi le was overwhelming, and the networking opportunities way beyond my expectations. The frequent contact with top decision-making executives (CEOs/CFOs), elaborate discussions on the fi nancial strategies of their organisations, application of the course theory in the real corporate environment, and now being in touch with them as friends is just priceless. I've observed immense changes in my knowledge in the duration of this course – the development of my skills in Strategy and Finance and my new confi dence as a strategic-thinker are astonishing.”

SYED SHAHZADInvestment Banking

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14 THE OXFORD DIPLOMA IN FINANCIAL STRATEGY

INTELLECTUAL ABILITYA good undergraduate degree (at least 2:1) or equivalent is required. Relevant professional qualifications, particularly in accounting, may be accepted in place of a prior academic degree.

ADMISSIONS CRITERIATo be considered for a place on the programme, candidates must be able to demonstrate the following:

PROFESSIONAL EXPERIENCEThe majority of candidates will be financial professionals. They may be qualified accountants or have other equivalent professional qualifications. Candidates will be expected to be familiar with the challenges of business strategy, management reporting, policy formulation, competitive analysis and organisational change. Ideally, candidates will have also been involved in their organisation’s budgetary cycles. Candidates require a minimum of five years’ professional experience, though many will have substantially more.

ENGLISH LANGUAGE PROFICIENCYThe programme is taught in English.

“I’m a director at a consulting fi rm that offers advisory, fi nancing and management services, and am responsible for overseeing investments made by the fi rm through our associated investment fund. I was looking for a programme to help me bridge the gap between my specialised real estate background and the broader world of corporate fi nance and business strategy.

The Diploma has certainly provided that bridge. It has given me the opportunity to learn from esteemed instructors and to discuss fi nancial and strategic ideas with top-level executives

GARY MINTERReal Estate

from around the world. The modular aspect also allowed me to continue my full-time job, a tremendous benefi t in its own right.

The Oxford Diploma in Financial Strategy has been, without a doubt, the right programme for me to develop the fi nancial understanding and strategic outlook that I need to perform at the top level in my organisation. The friends I’ve made along the way are an invaluable added benefi t. I know I will continue to draw upon the education and experience I’ve gained at Oxford as I progress in my career.”

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HOW TO APPLYAdmissions are processed through a system of review before a fi nal decision is reached by the admissions committee. The Saïd Business School reserves the exclusive right to accept or reject applicantswithout explanation.

Candidates should apply online at www.sbs.oxford.edu/apply.

You will need to prepare a personal statement of up to 500 words which addresses your aims for the programme and how you envisage being able to apply the learning to your organisation, or an area of research of personal interest. You will also be asked to supply details of two people who can

ACCOMMODATIONThe programme fee does not include accommodation. Participants make their own arrangements to stay in Oxford during the four modules. A list of suitable accommodation is provided for applicants.

PLEASE NOTEThe entire application, including the personal statement is held in the strictest confi dence and is not subject to review.

PRICING AND PAYMENT SCHEDULEThe programme fee covers tuition,course materials, essential readingtexts, examinations, assessments and supervision. Lunch and refreshments are provided and there will be a dinner at a selected historic Oxford College during each module. A 20% deposit is required to secure the place on acceptance. The tuition fees must be paid in full, six weeks prior to the start of the fi rst module.

provide references and transcripts to confi rm the details of your highest previous qualifi cation.

If you experience any diffi culties applying online, please contactthe Open Programme Team on+44 (0)1865 422737 or email [email protected].

If you would like to discuss any aspect of the programme please contact Steve Brewster on +44 (0)1865 422727, [email protected] or visit our website at www.sbs.oxford.edu/dipfi nance. Alternatively, you may wish towrite to Steve Brewster, Saïd Business School, University of Oxford, Executive Education Centre, Egrove Park, OxfordOX1 5NY, United Kingdom.

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WWW.SBS.OXFORD.EDU Saïd Business SchoolUniversity of OxfordExecutive Education CentreEgrove ParkOxford OX1 5NYUnited Kingdom

Steve BrewsterTel: +44 (0)1865 [email protected]/dipfi nance

© 2010 SAID BUSINESS SCHOOL. PHOTOGRAPHY BY GREG SMOLENSKI [WWW.PHOTOVIBE.NET]

SAID BUSINESS SCHOOLThe Saïd Business School is one of Europe’s youngest and most entrepreneurial business schools. An integral part of The University of Oxford, the School embodies the academic rigour and forward thinking that has made Oxford a world leader in education. The School is dedicated to developing a new generation of business leaders and entrepreneurs and conducting research not only into the nature of business, but the connections between business and the wider world.

TAUGHT PROGRAMMES

Diploma in Financial Strategy

Diploma in Global Business

Diploma in Organisational Leadership

Diploma in Strategy and Innovation

Executive MBA

MBA

MSc in Financial Economics

MSc in Major Programme Management

RESEARCH PROGRAMMES

DPhil Programme

EXECUTIVE EDUCATION

General Management

The Oxford Advanced Management and Leadership Programme

The Oxford Management Acceleration Programme

Leadership

The Oxford Strategic Leadership Programme

The Oxford High Performance Leadership Programme

What Next? For leaders with more to offer

The Oxford Programme on Negotiation

Strategy and Change

The Oxford Scenarios Programme

Consulting and Coaching for Change

The CIO Academy

Finance

The Oxford Finance Programme for Senior Executives

The Oxford Global Investment Risk Management Programme

The Oxford Private Equity Programme

The Oxford Private Equity Programme in China

Custom Programmes