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Monaco MBA A UNIQUE LEARNING & NETWORKING EXPERIENCE
Monaco MBAA UNIQUE LEARNING & NETWORKING EXPERIENCE
26%
7%
7%
4%
10%
42%
WELCOME TO THE
INTERNATIONAL UNIVERSITY OF MONACO
Experience Monaco where business is a way of life
The Principality of Monaco is renowned for its highly varied,
interna� onal popula� on with more than 100 na� onali� es
represented. It provides the ideal backdrop for students to
learn and grow in a truly mul� cultural environment, inside
and outside the classroom. Business is a way of life here, and
the Principality boasts one of the highest GNP per capita in
the world.
There are more than 4600 companies, of which many are
subsidiaries of interna� onal companies.
Low taxa� on encourages entrepreneurship and business
development, especially in sectors such as banking, fi nance,
engineering, tourism, and services.
In Monaco you can start making connec� ons and build up
your business straight away, both within the University and in
the business community which is right at your doorstep.
“An MBA should not create clones ...
it should show students, lucky enough to
par� cipate, that the world is yours and
you can decide what to do with it”
Vladiano Varnier, Italian, MBA 2003
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A diversified economy
Interna� onal Trade (42%)
Other Services (26%)
Retail Trade (10%)
Industry (7%)
Construc� on & Real Estate (7%)
Hotel Industry (4%)
Be part of one of the most unique universities in the world
The Interna� onal University of Monaco is an interna� onal
ins� tu� on dedicated to educa� ng business leaders through
programs based on a global focus, entrepreneurial spirit and
a humanis� c approach. It is recognized as one of the pioneers
and leading specialists in graduate educa� on worldwide.
We encourage our graduate students to go beyond the theories
and data taught in the lecture hall, by using the skills learnt in
real world situa� ons.
The learning process at IUM is based on a highly demanding
and rigorous approach, as well as listening and ac� ve learning
par� cipa� on. This approach contributes to make the University
a place of intellectual and prac� cal exchanges of the highest
level.
“The social life in Monaco is fantas� c, where else in
the world can you network with so many powerful and
interes� ng people? The University and Student Associa� on
always promote social events in order to integrate and
strengthen the friendship between students.”
Paulo H.A. Santos, Brazilian, MBA 2008
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PROGRAMOVERVIEW
A word from the program director
Op� ng to pursue an MBA is a major decision in your life.
Selec� ng the right one for you is even more of a challenge. Your
choice now can make all the diff erence to your personal growth
and professional success in the years ahead.
There are hundreds of business schools around the world off er-
ing an MBA, and dozens of excellent programs in Europe. How
to choose? To truly answer this, think less about the school, and
more about yourself: what do YOU want to get out of the MBA?
If it’s just the acquisi� on of basic business skills along with a
diploma to prove it, then just about any program will do.
If, on the other hand, you want to challenge yourself in an
intensive 10-month program, and emerge enriched with new
skills, perspec� ves, and contacts, then you should consider the
MonacoMBA. Set in the unparalleled and interna� onal
environment of the Principality of Monaco, the MonacoMBA
stands apart from all the others.
Driven by a global vision and an entrepreneurial spirit, each
year the MonacoMBA a� racts a select and diverse student body
from around the world, and enjoys one of the highest placement
rates upon gradua� on of any MBA program. Thanks to its
interna� onally recognized faculty; excep� onally mul� cultural
environment; Mentorship Program; and ongoing opportuni� es to
meet with entrepreneurs and leaders from various fi elds, you will
emerge with far more than a diploma. You will have a life-changing
learning and networking experience.
The AMBA accredited MonacoMBA has been in The Economist’s
Top 100 Global MBA programs for the past seven consecu� ve
years; this year it is ranked 51st in the world, CNN Expansion ranks
it 52nd worldwide. Now celebra� ng more than 20 years of suc-
cess, let the MonacoMBA help you build yours!
Dr. Marika Taishoff
Program Director
Why an MBA at IUM?
From its very beginning, more than the 20 years ago, the
MonacoMBA has been unlike any other. Driven by a global
vision and an entrepreneurial spirit, the MonacoMBA has for years
now been an interna� onally top ranked and AMBA accredited
program. A� rac� ng a select and diverse student body from around
the world, it enjoys one of the highest placement rates upon
gradua� on of any MBA program!
Come and broaden your perspec� ves thanks to a dynamic
learning approach, an excep� onally mul� cultural environment,
and mentoring and ongoing networking opportuni� es with leaders
from the fi elds of fi nance, luxury and interna� onal management.
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The MonacoMBA is unique in many ways:
Marika Taishoff, PhD.
Prior to becoming Director of the MonacoMBA and Professor of Marke� ng and Strategy, Dr. Taishoff was Associate Director
of the Masters in Luxury Goods and Services at IUM. She has also worked at such leading European business schools as IMD
(Interna� onal Ins� tute for Management Development) in Lausanne, Switzerland; Imperial College Management School of
the University of London; and SDA Bocconi in Milan, Italy. In addi� on to her academic background, Dr. Taishoff has also been
an independent consultant, focusing in the fi elds of strategic marke� ng, customer orienta� on, and leadership development,
with corporate clients in Europe, Turkey, and the US.
Marika has published two books—one on interna� onal marke� ng and interna� onal law, the other on compe� ng through
services—and numerous case studies, primarily in the fi eld of customer-focused transforma� on. Seven of these case studies
have won awards from Business Week/European Case Clearing House and from the European Founda� on for Management
Development.
Dr. Taishoff ’s ar� cles have been published in leading journals, and she is a member of the Editorial Board of MIT’s Journal of
Enterprise Transforma� on. She is a “phi beta kappa” and Magna cum Laude graduate of Barnard College, Columbia
University, and the Ins� tut Universitaire de Hautes Etudes Interna� onales of the University of Geneva, Switzerland.
Interna� onally Recognized and Top Ranked- The MonacoMBA is an accredited, interna� onally recognized and
globally top ranked program located in the Principality of Monaco.
- For the past seven years it has featured in The Economist’s Top
100 MBA Programs Worldwide.
Unique Mul� cultural Environment- The intensive, ten-month program combines theory and prac� ce
in a unique mul� cultural environment with one of the most
interna� onally diverse student bodies of any MBA program.
- Monaco itself is home to 4600 companies and over one
hundred diff erent na� onali� es
Unique Faculty, and Faculty to Student Ra� o- The high faculty to student ra� o ensures individual and ongoing
a� en� on, mentoring and feedback.
- Full-� me faculty, 90% of whom hold PhDs, come from around
the world; adjunct faculty are renowned professionals in their
disciplines and industries.
Unique Curriculum and Teaching Philosophy- The MonacoMBA delivers a solid, integrated and
mul� disciplinary curriculum designed around general an
devolving management theory and prac� ce through the use of
lectures, readings, case studies and business simula� ons.
- The applied and prac� cal focus of the MonacoMBA is further
enhanced through Consul� ng Projects with the many local and
interna� onal companies ac� ve in the region.
- Unique elec� ve specializa� on courses are off ered in Applied
Finance, Luxury Management, and Interna� onal Management—
ac� vi� es that are characteris� c of the Monegasque economy.
Unique Approach to Professional Development and Career Services
- The Management Assessment Center, together with ongoing
courses in Managerial Exper� se, enable students to be� er
understand their professional profi les and so facilitate the job
search process.
- A personalized coaching approach coordinated by Career
Services, leadership coaches, and relevant faculty is developed
to assist MonacoMBA students reach their full poten� al.
-The MonacoMBA has an excep� onally high placement rate
upon gradua� on.
Unique Experience: Inside and Outside the Classroom
- Numerous conferences and networking events are held
throughout the year, as are class visits to companies in European
ci� es noted for their exper� se and talent in the areas of fi nance,
industry, and luxury.
- The unique MonacoMBA Mentorship Program links you to top
execu� ves, leaders and entrepreneurs in the disciplines and in-
dustries that interest you.
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PROGRAMDESIGN
The Master of Business Administration (MonacoMBA) is a 10-month
program, 69-credit degree completed in three terms.
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The Common Core (42 credits)All MonacoMBA students complete the common core.
This compulsory 42-credit founda� on sequence teaches
students to master the cri� cal theories of management and
prac� ce, and enhances students’ thinking, analy� cal, and
problem-solving skills.
This required program of study immerses students in the
dovetailing issues and challenges of the global business
environment; integrates mastery of general management
concepts and skills with a subtle apprecia� on of the external
factors aff ec� ng the modern fi rm; and mo� vates students to
engage with the real world by applying key business disciplines.
Common core courses integrate lectures, case studies, and
prac� cal research in order to cer� fy that students understand
the fundamental managerial factors of modern business.
Specializa� on Courses (18 credits)MonacoMBA students may complete six specializa� on
courses for a total of 18 credits.
The MonacoMBA off ers three specializa� on op� ons:
1. Interna� onal Management
2. Luxury Management
3. Applied Finance
Specializa� on courses are off ered beginning in the second term,
once MonacoMBA students have acquired the common tools
and skill-sets of eff ec� ve management in any environment.
Managerial Expertise, Professional Development & Career Planning Unit (9 credits)Today the so� er facets of management such as self
awareness, centered leadership, and communica� on are as
important as the hard skills. The MonacoMBA, supported by
its Assessment Center, includes several courses to develop
and hone these skills.
The Offi ce of Career Development and Corporate Rela-
� ons assists students in leveraging their unique professional
and personal abili� es, and guides them in their pursuit of a
successful career.
Students work with the Offi ce of Career Development and the
Assessment Center throughout the program to fulfi ll IUM’s
commitment to realizing their career poten� al especially through
career and personal development sessions.
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The Common Core
Financial Accoun� ng, Repor� ng, and Control
Budge� ng & Cost Analysis
Organiza� onal Behavior and Cross-Cultural Management
Data & Models
Compe� � veness - Economic Analysis
Marke� ng Management
Customer Rela� onship Management
Career & Personal Development ProgramEmo� onal Intelligence & Presenta� on skills, Communica� on & Teamworks, Mentorship Program, Assessment Center
The Common Core
Compe� � veness - MicroeconomicPerspec� ve
Corporate Finance
Financial Markets
Corporate Governance & Business Law
Applied Finance Electives*
Interna� onal Taxa� on
Real Estate Inves� ng
Hedge Funds & Fund of Funds Management
Applied Finance Electives*Corporate Governance & Market Regulations
Ethics in Finance
Mergers & Acquisi� ons
Venture Capital & Entrepreneurial Finance
Corporate Projects
International Management Electives*
Corporate Social ResponsibilityInternational Economics
Global Policy & Sustainability
International Management Electives*
Management & LeadershipThe Economics of Development
Country Risk Analysis
Luxury Electives*
Luxury Consumer Behavior
Luxury Distribu� on
e-Luxury
Luxury Electives*
Managing Luxury Brands
Luxury Communica� on & Media Planning
Luxury Product Design & Development
The Common Core
Compe� � veness - GlobalStrategy
Supply Chain Management
Term 1 Term 2 Term 3
* MonacoMBA students may choose to follow an elec� ve specializa� on either in Applied Finance, Luxury, or Interna� onal Management. In order to have their specializa� ons men� oned on their diplomas, they must take ALL six elec� ves in that specializa� on. Students who prefer to follow an assortment of elec� ves across the categories may also do so, and their diplomas will not men� on any specializa� on.
A� ending the MonacoMBA program will help you learn,
grow, network, and succeed. The teaching philosophy
behind the program aims to reinforce these objec� ves.
LearnThree integrated elements form the founda� on of the
MonacoMBA teaching philosophy: a rigorous approach to
understanding and applying the established, and evolving,
theories and tools of management; an underlying
apprecia� on of the importance not only of “hard”
managerial skills, but also of the so� skills demonstrated
through team work, leadership, communica� on,
and self-awareness; and the crea� on of a dynamic,
interac� ve and hands-on learning environment
driven by class discussion, debate and interroga� on
through the use of case studies, business simula� on games, and
the Corporate Projects Program.
GrowTwo complementary ac� vi� es, led by IUM’s Career Services
Department, run parallel to the teaching program.
The Personal Development Program and its Managerial
Assessment Center help you iden� fy and build on your
strengths, while being aware of areas of your personality
profi le which need a� en� on and ameliora� on; improve
your self-selling techniques; and prepares you for the job
interview process.
NetworkThe Corporate Projects Program is a unique addi� on to the
curriculum. Once students have acquired the fundamental
tools of management, they are challenged to begin to
apply them, outside of the classroom, in actual corporate
se� ngs. Corpora� ons from a wide range of sectors
par� cipate in the IUM Corporate Projects Program,
giving MonacoMBA students the opportunity not only to
work closely with top management of these companies in
resolving problems and iden� fying opportuni� es, but to
also further build and enhance their network of
professional contacts.
The Corporate Project Program is not only an integral part of
the course load, it also � es together the dis� nct elements: hard
skills, so� skills, and applied learning.
Teaching philosophy
CORE COURSES DESCRIPTIONS
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Corporate Projects
The aim of the Corporate Projects is to expose students to the
reali� es of working in selected teams on actual issues, chal-
lenges, problema� cs or growth opportuni� es confron� ng
companies today. We inten� onally invite a wide selec� on of
companies from all sectors and of all sizes to par� cipate in this
program. Students, working closely with the point of contact
within the company, will have to analyze the situa� on, embark
on relevant research, assess pros and cons, and present and sub-
stan� ate their recommenda� ons to the company. Groups will
be graded by faculty, the MonacoMBA program director, and
senior management of the company.
Examples include market entry and development strategies for
diff erent regions, growth and M&A alterna� ves, global supply
chain and logis� cs decisions.
Financial Markets
This course introduces the fundamentals and workings of fi nancial
products and fi nancial markets; the mathema� cs of the markets;
and the vocabulary, par� cipants, and technologies that make these
markets work.
Case study discussions are an integral part of the course.
Students will learn to develop an awareness and understanding of
current market condi� ons; interconnec� ons between the stock,
bond, deriva� ves, and foreign exchange markets; and the impact
and relevance of current economic and geopoli� cal events.
Organiza� onal Behavior and Cross-Cultural Management
This course focuses on the variables that aff ect behavior at the
individual level and then goes on to a thorough examina� on
of the founda� ons of group dynamics – all within the
organiza� onal context.
Students will learn how leadership, power, poli� cs, confl icts,
and culture can aff ect behavior and their implica� ons for
performance and sa� sfac� on. They will also develop the ability
to recognize the infl uence of these factors on organiza� onal
system-level variables.
Corporate Finance
This course examines the role of fi nance in suppor� ng the
func� onal areas of a fi rm and fosters an understanding of how
fi nancial decisions themselves can create value.
Topics covered include basic analy� cal skills and principles of
corporate fi nance; func� ons of modern capital markets and
fi nancial ins� tu� ons; and standard techniques of analysis,
including capital budge� ng, discounted cash fl ow valua� on,
and risk analysis.
Students will learn methods for reviewing the range of issues
confron� ng a corpora� on as it determines the role of fi nancing in
the enterprise such as fi nancial analysis, capital budge� ng, capital
structure, and cost of capital.
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Budge� ng and Cost Analysis
The course ini� ally examines accoun� ng for manufacturing
opera� ons with the computa� on of manufacturing and
produc� on costs. This leads to a discussion of the cost account-
ing and process cost systems.
Students will develop the analy� cal – and other – skills necessary
for the controller’s func� on, and will learn to generate, analyze, and
implement fi nancial informa� on for effi cient managerial decisions.
Marke� ng Management
This course provides an overview of all the fundamental marke� ng
management concepts and provides students with the opportunity
to integrate them.
Students will learn how to scan the environment, perform
market studies, evaluate buyer and consumer behavior, launch new
products, and choose a coherent marke� ng mix strategy (product
and branding, price, distribu� on, and communica� on strategies).
They will also learn to analyze and formulate a marke� ng strategy,
and select an implementa� on process by preparing and
presen� ng a marke� ng plan for a product or service.
Through this process students will develop an understanding of the
ways in which the customer is the focus of all marke� ng ac� ons,
and the role marke� ng plays within a company and in the general
economy.
E-Business – Customer Rela� onship Management
This course aims to provide a basic understanding of e-marke� ng
concepts and how rela� onship management (RM) is cri� cal to an
organiza� on’s success.
The course approaches RM from the perspec� ve of the general
management tasks that must be performed to develop RM within
an organiza� on. The course examines why RM represents a
strategic alterna� ve to the tradi� onal 4 P’s marke� ng paradigm;
long-term customer orienta� on; and the crucial concepts of
sa� sfac� on, trust, and commitment, and their role in the
forma� on and maintenance of rela� onships.
The course also discusses ways in which RM can be brought to
life in the organiza� onal arena thanks to customer rela� on
management (CRM) through strategy, structure, and systems.
Students will learn how the Internet has broadened CRM’s
opportuni� es and effi ciency, and ways to develop and implement
an eff ec� ve CRM strategy.
Strategy
This course focuses on the environment in which global
strategy is developed at the corporate, business, and
opera� onal levels. Par� cular a� en� on is paid to the processes,
competencies, and vision of top management; compe� � ve
posi� oning; understanding compara� ve costs; and address-
ing issues such as cannibaliza� on, network externali� es, and
globaliza� on.
Students will hone their skills for formula� ng strategy by
developing an understanding of a fi rm’s opera� ve environment.
They will master a range of analy� cal tools and then demonstrate
the ability to take an integra� ve point of view in using these tools to
perform in-depth analyses of industries and compe� tors.
By combining the best of American and European educa� onal
models, the MonacoMBA seeks to produce innova� ve and
imagina� ve managers who are well-prepared to meet the
challenges of global business environments.
In acknowledging the unique nature of its mul� cultural
student body, the program recognizes the importance of
mee� ng the ever-changing needs of modern business stu-
dents through small class sizes, personalized a� en� on, and
adherence to rigorous academic standards.
U� lizing this approach, the MonacoMBA seeks to provide a
fundamental understanding of business from the
general management perspec� ve. Leveraging techniques
inherent in IUM’s concept learning model, the MonacoMBA
encourages students to glean and retain knowledge by in-
ferring pa� erns in factual experience. This enables
students to develop strong analy� cal and cogni� ve skills
that allow them to extrapolate schemas from examples,
and provides a founda� on for enduring growth and
learning.
Combining academic rigor & practical learning
DESCRIPTIONS
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Financial Accoun� ng, Repor� ng, and Control
This course provides a general overview of how accoun� ng
contributes to an organiza� on, especially since it is the primary
channel for communica� ng informa� on about the economics of
a business.
Students will learn the concepts and language of accoun� ng;
the ways it can be used as an eff ec� ve tool for communica� on,
monitoring, and resource alloca� on; and the terminology and
jargon of fi nancial statements and accoun� ng reports.
Sta� s� cs
This course covers the basics of classical sta� s� cs including
summary measures of data, graphical presenta� on of data,
random variables and probability distribu� ons, expected
values, es� ma� on, confi dence intervals, and hypothesis tes� ng.
Students will become familiar with the classical material as well
as the advanced quan� ta� ve methods applied to managerial
decision making problems such as regression, analysis of
variance, and � me series analysis.
Logis� cs, Opera� ons, and Supply Chain Management
This course focuses on what opera� ons managers do, how
opera� ons management involves a range of business func� ons,
and the tools that opera� ons managers use.
Students will develop the skills and concepts needed to
ensure the ongoing contribu� on of a fi rm’s opera� ons to its
compe� � ve posi� on, as well as an understanding of the
complex processes underlying the development and
manufacture of products, and the crea� on and delivery of
services.
Managerial Economics
This course employs an intui� ve, non-calculus-based
treatment of economic theory and concentrates on
micro-economic topics of par� cular importance to assist
students in understanding and improving the managerial
decision-making process. The fi rm is treated as a unifi ed whole
rather than a series of discrete, unrelated parts.
Students will gain a solid founda� on of economic understanding
and the “economic way of thinking” for use in strategic and
managerial decision making, and an understanding of the
basic forces of supply and demand and how they interact to
determine the quan� ty of goods traded in a market – and the
price paid for those goods. They will learn to analyze market
structure, examine the pricing prac� ces needed for successful
management, discuss ways in which real markets depart from
perfect compe� � on, and describe the role of government in a
market economy.
CORE COURSES
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Finance
This course is divided into two parts.
Part 1 examines the role of fi nance in suppor� ng the
func� onal areas of a fi rm and fosters an understanding of how
fi nancial decisions themselves can create value.
Topics covered include basic analy� cal skills and principles of
corporate fi nance; func� ons of modern capital markets and
fi nancial ins� tu� ons; and standard techniques of analysis,
including capital budge� ng, discounted cash fl ow valua� on,
and risk analysis.
Part 2 builds on the founda� on developed in part 1,
focusing on a number of managerial decisions: how to
evaluate complex investments, how to set and execute
fi nancial policies within a fi rm, and how to integrate the many
fi nancial decisions faced by fi rms.
Students will learn methods for reviewing the range of issues
confron� ng a corpora� on as it determines the role of fi nancing
in the enterprise such as fi nancial analysis, capital budge� ng,
capital structure, and cost of capital. They will also learn
valua� on techniques, ways to manage working capital, how
NPV and valua� on techniques are related, and methods for
managing debt and equity fi nancing.
Financial Markets
This course introduces the fundamentals and workings of fi -
nancial products and fi nancial markets; the mathema� cs of the
markets; and the vocabulary, par� cipants, and technologies
that make these markets work.
Case study discussions and ac� vi� es that simulate fi nancial
markets in all their components (from corpora� ons to
investment banks to fund management fi rms to clearing
houses) are an integral part of the course.
Students will learn to develop an awareness and understanding
of current market condi� ons; interconnec� ons between
the stock, bond, deriva� ves, and foreign exchange markets;
and the impact and relevance of current economic and
geopoli� cal events.
Governance and Business Law
This course presents the principal legal mechanisms used in
the world of interna� onal business, and explores the ethical
and legal founda� ons of business ac� vi� es in an interna� onal
se� ng.
Students will master the relevant legal topics of interna� onal
transac� ons, and learn how to analyze the problems and
methods of interna� onal business law and compara� ve law.
APPLIED FINANCE
Venture Capital and Entrepreneurial Finance
This course is designed to familiarize students with the
issues and prac� ces surrounding private equity investments,
in par� cular venture capital, bootstrap fi nance, mezzanine
inves� ng, and turnarounds.
This involves learning about the dimensions of risks and
expected returns in a context which is characterized by
incomplete informa� on and lack of liquidity while gaining
prac� cal insights into the interac� on and rela� onship
between the investor and management: What are their
respec� ve interests and strategies? How do they come to a
deal? What is the process? How do they create value?
The course integrates various managerial disciplines and
covers the venture capital environment, fi nancial modeling,
business plan analysis, investment criteria, delivering pitches
and teasers, understanding and nego� a� ng terms and
condi� ons, and preparing for due diligence and closing
Real Estate Inves� ng
This course seeks to impart an understanding of commercial real
estate as an income producing investment. It explains real estate
syndica� ons as an ownership form, fi nancing alterna� ves,
and the use of fi nancial leverage.
Students will learn the techniques used to valuate commercial
proper� es, how to prepare an investment analysis, and how to
iden� fy the risks of development projects. They will develop an
indepth understanding of the mortgage market with its several
sources of fi nancing.
Hedge Fund and Fund of Funds Management
This course is designed to expose students to various
characteris� cs of hedge funds – their classifi ca� on in terms of
the strategies employed and risk-adjusted performance
evalua� on, and their organiza� onal structure as well as their
objec� ves, risks, and disclosure prac� ces.
The course introduces legal issues concerning the forma� on
of a hedge fund and their business prac� ces such as
management and incen� ve fees structure. The “hedge fund
universe,” its historical and current evolu� on, and its ethi-
cal issues is presented from a variety of perspec� ves, from
managers to private and ins� tu� onal investors. Several classes
in this course are taught by market professionals.
INTERNATIONAL MANAGEMENT
Corporate Social Responsibility
This course resumes the discussion of fundamental ethical
principles as they guide business leaders in their daily decisions
to take them to the corporate level.
The course explores the proposi� on that businesses have a
responsibility to society beyond wealth crea� on; and examines
the responsibili� es of corpora� ons and execu� ves to their share-
holders, cons� tuencies, and local and at-large communi� es.
DESCRIPTIONS
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SOME ELECTIVES
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Management, Leadership, and Global Compe� � on
This course familiarizes par� cipants with basic management
processes, concepts, techniques, and tools; and presents the
concepts of leadership and global compe� � on.
Students will develop an understanding of the cri� cal role
management plays in modern business and learn how
business func� ons are linked to form an integrated totality.
Global Policy and Sustainability
This course provides students with insight into the rapidly
changing world of global environmental policy and sustainable
development.
Students will be exposed to the challenges of managing the
environment and securing sustainable development from an
interna� onal perspec� ve.
LUXURY
Luxury Consumer Behavior
This course inves� gates the dynamics of human behavior and
how it relates to decision making in the luxury sector through
an in-depth view of the many factors that infl uence the
consumer’s decision making process.
Topics include individual mo� va� on, personality traits, self-
concept, values, lifestyles, and psychological processes; and
group membership, social classes, and (sub)-cultures.
Students will learn to u� lize course material to develop
consistent marke� ng strategies in the luxury sector through
lectures, cases, business and academic ar� cles, and fi eld
study.
e-Luxury
This course is designed to introduce students to the new
technologies that are infl uencing the luxury industry. The course
focuses on new technologies used in marke� ng, communica� on,
research, and product development in the luxury industry. These
include the Internet, the World Wide Web, and e-tailing.
The course seeks to answer the ques� on: How can the luxury
enterprise sell its goods and services online?
Students will learn how to cul� vate and manage an online
image, and how technology can impact global luxury markets.
They will develop an understanding of the Internet’s power
as a marke� ng and communica� on tool, and demonstrate an
apprecia� on of ways in which consumer expecta� ons are
molded by the advent of interac� ve technologies.
Managing Luxury Brands
This course provides an overview of the ways in which luxury
brands are conceived, developed, launched, nurtured, and
protected. Topics include devalua� on of luxury, the mass market,
“super-luxury” or “uber-premium” brands, using brands to
create new market segments, and account management.
Students will learn how to assess luxury product markets,
manage interna� onal distribu� on as part of the branding
process, and manage brand assets and equity by controlling a
brand and communica� ng its advantages.
PROGRAMOUTCOMES
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What will you get out of your MBA at IUM?
the solid managerial skill set which allows you to quickly
become produc� ve and confi dent managers.
acquired the ability to collaborate in a truly interna� onal
se� ng.
learned to work and lead in a dynamic and unpredictable
environment, with people from diff erent regions, cultures
and backgrounds.
assimilated not only the hard skills, but also the so�
skills so fundamental to management success today and
tomorrow.
a general knowledge of management theory and prac� ce,
as well as specialized industry knowledge of fi nance, luxury
and interna� onal management.
a life-changing learning experience: crea� ng new perspec-
� ves, a world-wide network, and ongoing opportuni� es for
professional growth and development.
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“The university’s Mentorship program does
an excellent job in bringing students together
with local business people to help them
understand how business actually works”
Andreas Buelow, German, MBA 2006
Entrepreneur in Bahrain
15
Out of the classroom and out of the box….
Despite the academically intensive ten month program,
MonacoMBA students also par� cipate in a variety of
extra-curricular ac� vi� es intended to broaden their
perspec� ves and expose them to new ideas and
environments. Throughout the year, IUM hosts numerous
conferences with leading thinkers and prac� � oners from a
wealth of sectors.
The annual MonacoMBA Field trip is not only an “out of the
classroom” and “out of the box” team building exercise, but
an opportunity for students to visit areas with centers of
exper� se in a variety of domains. While there, they also meet
senior management from leading organiza� ons and visit
corporate facili� es such as produc� on, marke� ng, logis� cs
and distribu� on.
In the last few years, the MonacoMBA students visited
London, Geneva, Torino, Milano and Paris.
The MBA Mentorship Program
For the last eight years, the Interna� onal University of
Monaco has been off ering a unique Mentorship Program for
its MonacoMBA students.
Thanks to this program, students have the excep� onal
experience of benefi � ng from the guidance, insight
and knowledge of CEOs, top execu� ves, and successful
entrepreneurs from a variety of sectors and countries.
Every year this program involves more than 80 mentors and
has been an outstanding contribu� on to student`s overall
experience here, and the achievement of their professional
goals.
Through this opportunity to develop ongoing rela� onships
with successful professionals, students gain a unique
apprecia� on of the industry or prac� ce which most interests
them. This is not only benefi cial for their studies, but also as-
sists in their career aspira� ons.
“Throughout my MBA I had the opportunity to immerse
myself into the business dynamics of major interna� onal
companies in various industries. It was a year combined
with hard work which truly pushed me to my limits
and gave me confi dence in my abili� es. Even more
importantly, I developed lifelong friendships and
business rela� onships.”
Caroline Behne, German, MBA 2010
Senior Marke� ng Associate,
teNeues Publishing, New York
16
David ANSIAUDavid is professor of Organiza� onal Behavior and
Management as well as the Director of Academic Research at
IUM. He has also lectured at the University of Toulouse, where
he studied for his PhD in Industrial Psychology. He holds a B.Sc.
Psychology and Pedagogy from the University of Mons-Hainaut,
Belgium; an MA in Industrial Psychology from the University of
Mons-Hainaut, Belgium; and an MSc in Cogni� ve Psychology,
Ecole Pra� que des Hautes Etudes, Paris.
Ingo BÖBELDr. Böbel’s specialty fi eld is economics. He is a member of the
“Microeconomics of Compe� � veness” (MOC) network at the
Ins� tute for Strategy and Compe� � veness at Harvard Business
School (Professor Michael E. Porter) and a Visi� ng Professor
of Economics at SCQM Jiao Tong University, Shanghai. His
career has led Dr. Böbel to several countries where he has been
involved in dozens of research ac� vi� es. His academic work
comprises six books and numerous refereed ar� cles and
is referred to in many renowned books and encyclopedic
publica� ons. Professor Böbel obtained his Dr.rer.pol. and
Dr.rer.pol.habil. at the University of Erlangen-Nüremberg,
Germany.
Marie-Cécile CERVELLONDr. Cervellon received her PhD from McGill University in
Montreal, Canada . She also graduated from Paris IX-Dauphine
University (Master in Research) and ESCP Europe (Master in
Management-Grandes Ecoles). She is professor in Consumer
Behavior Sciences and Marke� ng at the Interna� onal University
of Monaco, and researches on topics linked to luxury goods
and services. She published ar� cles in major academic journals
such as the Interna� onal Journal of Research in Marke� ng,
the Journal of Business Research and the Journal of Cross
Cultural Psychology. Her research papers were presented at
major conferences worldwide. Previous to her academic
career, she had 8 year experience as brand manager in Sara Lee
Corpora� on.
Douglas KENTDouglas is the Chairman of the European Supply Chain
Council’s Leadership team where he is also one of a select
few SCOR® qualifi ed instructors.
Douglas is an MBA graduate from Pepperdine University’s
School of Management and studied at Harvard University
during his post-graduate years. Douglas is also a frequent
lecturer, conference lead and author of many Supply
Chain ar� cles. Douglas teaches as adjunct professor at the
Interna� onal University of Monaco.
SOME OFTHE MONACO MBA FACULTY
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Gregory MOSCATOGregory started his academic career with a B.A. with a
major in violin from the Academy of Monaco. He obtained
an MBA at IUM, before receiving his Ph.D. in Finance from
the University of Paris-Est. He has worked as an account
execu� ve at The Golden Lender Financial group and a� er
obtaining his US fi nancial licenses he specialized in dealing
with NYSE securi� es. He has also worked for Prime Charter
Ltd. and Joseph Stevens & Co, and as a Foreign
Exchange consultant for Consul Interna� onal Partners. He
became a Trader for the Whitsunday Holdings Ltd. and he went
on to specialize in trading index futures contracts (S&P 500,
FTSE 100, CAC40). He is currently the Director of the Master in
Finance programs and professor of Finance at IUM.
Joseph Michael PAYTEFounding board member of the Interna� onal Associa� on
of Financial Engineers (IAFE), Mr. Payte has also been Vice
President of the Interna� onal Financial Markets/Swaps/
Deriva� ves Ci� bank, and Senior Managing Director of the
Interna� onal Capital Markets Bear Stearns & Co.
He has an MBA Finance & Intl Business from the Kellogg
School of Management, Northwestern University.
Franco QUILLICOFranco Quillico received an MS Summa Cum Laude in
electrical engineering from the Polytechnic of Milan, and an
MBA from the Wharton School, University of Pennsylvania.
He worked for Bain & Company and Salomon Brothers.
Since December 1993 Franco Quillico is Managing Partner of
Andromeda Consul� ng, an advisory fi rm based in the
Principality of Monaco, focusing on mergers & acquisi� ons.
Mr. Quillico has advised clients in various industries:
banking, informa� on services, computers, chemicals, real
estate, construc� on materials, machine tools, automo� ve,
railroad, u� li� es, air courier, tex� les, prin� ng, food
processing, fast food, entertainment; and in several
countries: Italy, England, France, Belgium, Germany, Spain,
Monaco, Switzerland and the United States.
Glenn WEISSA lawyer for the bar of New York, Glenn get the authoriza� on
to act as a Monaco Interna� onal Legal Expert in 1999. He
specialized in nego� ated agreements with third par� es,
including the United Na� ons, informa� on technology
suppliers, and banks. Glenn advises companies on corporate
law and interna� onal business opera� ons. Glenn holds a
Juris Doctorate from Boston University School of Law, Boston,
Massachuse� s.
“I was impressed by the well structured program, the highly
knowledgeable professors, their level of prepara� on
and unique teaching philosophy. I received the right
founda� on for my future career by being able to go
beyond the theories, skills and data taught in the class-
rooms and apply them in real world situa� ons.”
Katalin Radvanyi, Hungarian, MBA 2010
Director, Financial Services, London
We consciously select a diverse student body, one that not only
refl ects a variety of backgrounds, cultures, and na� onali� es,
but a wide range of personal interests and professional
ambi� ons.
We recognize — and welcome — leadership that may be
expressed in many forms, from running an independent
business to spearheading ini� a� ves at work. In essence,
we are looking for evidence of your poten� al - a por� olio of
experiences, ini� a� ves, and accomplishments that refl ect
leadership and capacity for intellectual and professional
growth.
Learn, Grow and Network...
are also elements we look for in our candidates.
Through the Admissions Process, we iden� fy candidates who
show academic excellence, interna� onal awareness, leadership
ability and strong interpersonal skills.
The MBA Admissions Board will review your prior academic
performance and the nature of your work experience. There is
no par� cular previous course of study required to apply. From
all over the world, we seek applicants with high poten� al who
wish to share their talent and ambi� ons with their community.
With the Monaco MBA, your experience will last a “life-� me”.
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ADMISSIONPROCESS
How to benefi t from the Monaco MBA experience?
2010�2011 MonacoMBA Class Profi le
Female 52% - Male 48%
Average age 29
Average GPA 3.2
Average Years of Work Experience 6
Africa
Americas
Asia
Europe
Africa5%
Americas52%
Asia14%
Europe29%
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Admissions CriteriaWe seek students who are open-minded and who demonstrate
a strong desire for professional advancement and intellectual
growth. As a small cohort in a diversifi ed group, we are looking
for students who have the ability to proac� vely contribute
to the MonacoMBA experience. At IUM, applicants need to
demonstrate their poten� al as business leaders.
Admissions ProcessYou can start your applica� on for the MonacoMBA program
online on our web site. Upon comple� on, you need to send
the required documents by post. The MBA Admissions Board
will take between 10-15 days for the evalua� on of your fi le and
a� erwards will schedule a telephone interview.
Admissions RequirementsEssays and Short ques� ons
A Bachelor Degree (transcripts)
Proof of English Profi ciency
2 Le� ers of recommenda� on
GMAT score (date scheduled)
CV (resume)
“Having a curriculum which was focused on global business
and being in a se� ng of interna� onal students for 10 months,
really provided me with the exposure to global markets, their
branding and methods of distribu� on, specifi cally in the luxury
sector...all of which have proved benefi cial. IUM provided me
with the educa� on and more importantly the opportunity to
be in an interna� onal business environment to enhance my
future goals. ”
Deepa Radhakrishnan, American, MBA 2010
Account Execu� ve for Estee Lauder Group,
Sephora, MAC & Trish McEvoy, Los Angeles
Further information and application
procedure
To apply for the MBA program,
complete and submit your application
online at www.monaco.edu including
all suppor� ng materials.
For more informa� on, contact Ms. Leila
Bello at [email protected]
or by phone at +377-97- 986-986.P
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International University of Monaco
2, avenue Albert II
MC 98000 Monte-Carlo
Principality of Monaco
Tel: +377.97.986.986
www.monaco.edu
The International University of Monaco
is a member of the INSEEC Group, one of the largest French
educational institutions with campuses in Paris, Bordeaux, Lyon, London and Monaco.
