Courses

"Best practice leadership skills for today's business world"


 

MBA_Structure_1581007163875

Semester 1

In the first semester, MBA students get the overall picture, with perspectives from the micro, meso, and macro levels of business understanding. Throughout the program students focus on their personal growth through Personal and Professional Development.

Effective Negotiations

What you learn

This course focuses on the development of negotiation skills. Students learn and practice effective preparations and techniques, building trust, managing conflicts, systematic preparations for negotiations, active listening, cultural aspects in negotiations preparations, and more.

Taught by: Aðalsteinn Leifsson

Negotiations are at the very core of management and are essentially about effective decision making, communication, problem solving and team-work. Enhancing your skills in this important area has a major impact on success at work and in your personal life. This is why I am truly passionate about developing knowledge and skills in negotiations.

Aðalsteinn LeifssonIn more detail

The dynamics that occur before, during and after a negotiation are are examined and the theory behind various approaches to negotiations through readings, in class discussions, simulations, case studies, reflections, assignment projects and role-playing games. The emphasis throughout the course is on active participation of students, as dynamic participation – coupled with honest feed-back – is an effective way to learn new skills and change behavior.

Credits:

5,5 ECTS

Organizational Behaviour

What you learn

Students learn to enhance current and future decision-making. Students learn methods of communicating well, both orally and in writing, and to use synthetic approaches to addressing organizational issues and to develop integrated modes of thinking. The range from micro to mezzo to macro levels of analysis is discussed, and the complexities of organizational effectiveness.

Taught by:

Ann Armstrong

In more detail

In this course, the theoretical and empirical bases of the discipline of organizational behaviour are addressed. Topics covered are amongst others individual differences, emotional intelligence, motivation, communication, stress, team processes, decision-making, design, culture, and innovation.

Individual, group, organizational, and inter-organizational dynamics are reviewed. The course uses multiple perspectives (i.e., frames) that students can use to assess the effectiveness of their organization's processes and structures. The frames integrate much of the current theory and research in the discipline. The frames are structural, human resource orientated, political and symbolic.

Credits:

5,5 ECTS

Managerial Economics

What you learn

The course prepares students as managers that make decisions where economy-wide factors play a role. What are the implications of a change in monetary or fiscal policy for your company? Is the country under consideration for investing in likely to do well? Is it wise to locate production or market your product there?

Taught by: Friðrik Már Baldursson

Fridrik_Mar_BaldurssonIn more detail

The goal of this course is for students to acquire a good understanding of the macroeconomic forces that affect the performance and management of firms in the global economy. Questions such as: Why are some countries rich and others poor? What drives business cycles? What are the causes of inflation? What is the role of monetary and fiscal policy? What are the causes and consequences of global imbalances? What determines exchange rates? are addressed. The course develops a conceptual framework that helps in understanding the interplay between important macroeconomic variables such as real output, economic growth, unemployment, inflation, interest rates, exchange rates and the current account balance.

Credits:

5,5 ECTS

Data Analytics for Management

What you learn

Students are given the necessary knowledge and tools to identify the areas where data analytics can add the most value, select appropriate types of analyses and apply them in a small-scale, quick-turnaround but high-impact fashion. They develop an understanding of various sources of data, can organise the inputs of experts and colleagues, and use state-of-the-art business software to provide analytical support to their reasoning.

Taught by: Kristín Friðgeirsdóttir

A woman stands in the Sun in RU

In more detail

Business decisions are often too complex to be made by intuition alone. The structure of our reasoning needs to be communicated, our choices defended, and presentations delivered that show the completion of a thorough analysis. The overall objective of this course is to equip students with analytical thinking and powerful tools that help them be more effective in these tasks. The emphasis is not on building black boxes that deliver the right answer for each problem. Instead, the goal is to teach how to use data to ask questions, build simple but powerful models that test intuitive reasoning, improve managerial thinking and facilitate the communication of recommendations.

Credits:

5,5 ECTS

Personal and Professional Development

What you learn

In this course that stretches over four semesters, students are supported through the challenges and changes that come with the MBA programme. They are given an opportunity to reflect on their personal growth, life and career paths while gaining professional knowledge, skills and abilities. This helps integrate personal and professional journeys, and thereby strengthening the student's foundation for leadership roles.

Taught by: Hulda Dóra Styrmisdóttir

Hulda-Dora-Styrmisdottir

In more detail

Students are given the tools to understand the importance of self-awareness in developing leadership capabilities. They get to know their own motivation, strengths and weaknesses in a leadership role, they come to understand the importance of feedback, coaching, goal setting and communication in management, and know how to continue developing those skills.

Credits:

0,5 ECTS

Semester 2

The second semester equips students with the necessary tools for business analysis. 

Corporate Finance

What you learn

Students become familiar with the purpose and use of financial statements, get acquainted with time value of money techniques and the valuation of financial securities, and learn about capital investment analysis. They become able to apply quantitative tools to real-world business problems, conduct financial analysis of a company, apply time value of money concepts and valuation techniques in appropriate ways, and convey the results of complex financial analyses to a variety of technical and non-technical constituencies.

Taught by: Steve Byers

In more detail

This course provides students with an understanding of the concepts underlying corporate financial management and equips them with critical quantitative analysis tools. Focus is on the creation and measurement of value. Key topics include time value of money, financial performance measurement, risk and return, bond and stock valuation, capital investment analysis, capital structure, modern portfolio theory and the cost of capital.

Credits:

5,5 ECTS

Managerial Accounting

What you learn

Numbers are just an input to management, and leaders need to know how to get them, but more importantly, what do they mean for the management of the organization. Managing organizations is about people; while having the right information and knowing how to interpret it is important, the course emphasizes the behavioral implications of using this information.

Taught by: Edi Soler

In more detail

A comprehensive introduction to designing, interpreting, and using financial and non-financial information to manage organizations and drive value creation. The tools covered are relevant to most areas from marketing to operations, to human resources. The class balances quantitative and qualitative aspects, reflecting the reality of organizations, where managers have to combine these two perspectives. The quantitative part only requires a good understanding of basic algebra (add, subtract, multiply and divide) as well as common sense. The core of the class is devoted to evaluating the management implications of the analysis.

Credits:

5,5 ECTS

Marketing Management

What you learn

Students advance their understanding of key concepts and methods, mostly focusing on marketing strategy with emphasis on choosing the right marketing metrics and measurements for different companies and industries.

The aim of the MBA programme is to provide an advanced understanding of business analysis with an emphasis on strategy, implementation and practice. In that respect I try to emphasise the modern opportunities related to digitalisation and evidence-based practice.

Taught by: Valdimar Sigurðsson

Valdimar stendur upp við vegg í HR með krosslagða handleggi

In more detail

The course on marketing management has been designed with the objective of helping students to develop a conceptual framework that covers the variables that we bear in mind when we make decisions related to the generation or maintenance of business opportunities, in other words, to structure your thinking when approaching a marketing problem. The aim is to provide an advanced understanding of consumer analysis with an emphasis on strategy, implementation and practice of modern marketing.

Credits:

5,5 ECTS

Operations Management

What you learn

Students become familiar with the basic elements of process analysis and the concept of capacity and utilisation of a system, the basic elements of inventory management, the challenges of service operation, the challenges of building a strong Supply Chain and the methodologies for operational excellence and improvement. 

Taught by: Natalia Yankovic

Natalia YankovicIn more detail

The best companies today are those which have a team work culture with groups of people from different areas (e.g., operations, finance, marketing, etc.) working together to overcome business challenges. This applies to all companies, regardless if they are in the service sector, trade or manufacturing.

By using numerous compelling cases, the basic concepts of process, operations and supply chain management are introduced. Students gain the ability to perform process analysis, identifying key resources and the capacity of a system, identify the sources of variability, design and improve robust and excellent services using the service value map framework.

Credits:

5,5 ECTS

Personal and Professional Development

What you learn

In this course that stretches over four semesters, students are supported through the challenges and changes that come with the MBA programme. They are given an opportunity to reflect on their personal growth, life and career paths while gaining professional knowledge, skills and abilities. This helps integrate personal and professional journeys, and thereby strengthening the student's foundation for leadership roles.

Taught by: Hulda Dóra Styrmisdóttir

Hulda-Dora-Styrmisdottir-1

In more detail

Students are given the tools to understand the importance of self-awareness in developing leadership capabilities. They get to know their own motivation, strengths and weaknesses in a leadership role, they come to understand the importance of feedback, coaching, goal setting and communication in management, and know how to continue developing those skills.

Credits:

0,5 ECTS

Semester 3

In the third semester, students focus on strategy and change management. 

Competitive Strategy

What you learn

Students understand how to organise a business to create value for customers and how to capture some of that value to sustain the economic objectives of the organisation. Making deliberate choices about value creation and value capture involves market and organisational tradeoffs, and an appreciation of these is an important outcome from the course.

Taught by: John Steen

In more detail

Competitive strategy is about the integrated set of choices that an organisation makes to optimise the chance of success in a particular operating environment. For most organisations in the 21st century, this environment is increasingly dynamic and uncertain, so the strategies must also be dynamic. The ultimate strategic objective of "sustained competitive advantage" has been replaced by "a series of transient competitive advantages". In this course, strategy is looked at through a business model lens.

Credits:

5,5 ECTS

Human Resource Management

What you learn

This course introduces students to concepts, frameworks, tools and, most importantly, a perspective to help you be an informed manager, leader and employee, making your organisation unique and successful.

Taught by: Lori Riznek

Two words come to mind when I think of the energy in an RU MBA classroom: curious and experimental. Students are open minded and want to explore new ideas, concepts and frameworks. They are constantly asking “how might I adapt that to my workplace?” Discussing and sharing insights is highly motivating for everyone.

Lori Riznek

In more detail

Organizations in Iceland, like elsewhere, are small, medium sized and relatively large. Ideas and practices that work in one organization may or may not work in another, or may need to be adapted. Students take a critical perspective during the course: assess what their organization currently does in HRM and what could be done even better by modifying and applying the ideas presented. Everything that happens in an organization gets done through people: setting goals, marketing and selling products, delivering service, providing customer support, analyzing the marketplace, collecting and analyzing information. Employees drive the overall success of an organization.

Credits:

5,5 ECTS

Leadership and Change

What you learn

This course explicitly builds on participants' experience to help them further develop an understanding of the increasing complexity of leading and managing people at different levels of an organization. By relying on theoretical, empirical, and practical frameworks, studdents gain the tools necessary to make meaningful contributions as leaders of individuals, teams, and organizations.

Taught by: Carlos Rodriguesz Lluesma

In more detail

The course is designed to address several fundamental aspects of managing and leading people in organizations, including understanding human behavior and work motivation, inspiring trust and commitment, managing interpersonal relationships and conflict, developing talent, leading teams, and organizational culture and change. Organizational culture and change is not only a central topic in the course, but also as a perspective to shed light on the other issues covered. This approach is justified by the fact that leading can be conceptualized as managing change towards a preferred state in individuals, teams and organizations.

Credits:

5,5 ECTS

Strategic Decision Making

What you learn

Students know more about what management is, about the conceptual frameworks in a myriad of functional areas, the tools at their use in each of these areas, the latest management techniques, fashions and fads. Skills and capabilities are developed, including not only the hard skills, but also the so-called “soft” skills, so necessary in today's business environment. Attitudes and values are challenged so that each student can find his or her place in today's business environment and take a position vis-a-vis the fundamental issues that his or her profession faces.

Taught by: Eric Weber

There comes a point in the life of a professor where one carefully chooses what to do and where. I keep returning to teach at the RU MBA program because of the quality of the programme, the hard working students, the programme administration and the overall learning experience for me is well worth it!

Eric Weber

In more detail

Management is about action, about making things happen, about positively transforming the reality in which managers “perform”. To do this, and do it well, requires sound decision-making skills. Good strategic thinking and decision-making is, however, not constrained to the strategy formulation process alone; good implementation must accompany...and to do so, requires solid action plans and implementation strategies, together with the adequate management tools to ensure that the ultimate goals and objectives are met. This course is intended to further develop student's acquired ability to think and solve complex real-world business problems; problems that are not functional in nature, but rather problems that include all aspects of management.

Credits:

5,5 ECTS

Final project: Introduction

Semester 4

In the fourth and final semester students work on and defend their applied final project with innovation focus, in addition to studying Competition in the Digital Age, the Legal framework, and Responsible Leadership.

Competing in a Digital Age

What you learn

Is this course, students gain the skills to see beyond the immediate digital trends and understanding the nature of the principle digital drivers – social networks, mobile, the cloud, and Big Data. They explore how these drivers affect everyday life of consumers and redesign society and businesses and identify the principle goals and objectives that organizations seek to address when launching and executing a digital transformation initiative. They learn how to develop products enabled by digital density in an iterative, agile and incremental way to compete in the age of digital innovation.

Taught by: Robert Gregory

The subject of “competing in the digital age” is of highest practical importance today due to the ongoing consumerization of customer expectations and demands, democratization of global innovation, datafication of everyday life, and platformization of business models that in combination creates significant pressure for established organizations, small and large, to change their approach to creating and capturing value.

Robert GregoryIn more detail

The extensive and important topic of digital innovation and transformation is explored from the standpoint of a general manager. The course introduces and applies a set of concepts, frameworks, and tools that are used by leading companies innovating through digital technology. Sessions consist of mini-lectures, case discussions, and interactive workshop, also cases and simulations that deal with topics such as automation, reliability, personalisation, and integration.

Credits:

4 ECTS

Business Law

What you learn

Students gain an insight into several key legal topics likely to be relevant in day-to-day duties as a manager. Students are trained in assessing legal risk and become prepared to engage in discussions with legal advisers, administrative bodies, and others, on legal issues.

Taught by: Heimir Örn Herbertsson

Credits:

3 ECTS

Personal and Professional Development

What you learn

In this course that stretches over four semesters, students are supported through the challenges and changes that come with the MBA programme. They are given an opportunity to reflect on their personal growth, life and career paths while gaining professional knowledge, skills and abilities. This helps integrate personal and professional journeys, and thereby strengthening student's foundation for leadership roles.

Taught by: Hulda Bjarnadóttir & Gísli Marteinn Baldursson

Hulda Bjarnadóttir

Every leader and any successful member of the public realm needs to be able to communicate her or his vision and opinions properly. The emphasis that the MBA program at RU puts on this often overlooked aspect of the role of the successful entrepreneur, business leader or a strong public servant is first class.

- Gísli Marteinn Baldursson.

Gísli Marteinn BaldurssonIn more detail

Students become more able to take responsibility in managing their career path and are able to use a coaching approach in managing self and others. They become skilled at making an interesting presentation and present it with confidence. Finally, they know the importance of understanding and building on individual differences to maximize team and organizational effectiveness.

Credits:

3 ECTS

Responsible Leadership

What you learn

Students improve skills to analyse and make responsible decisions on ethical issues and sustainability in the complex business environment of today. The focus is both on using ethics for individuals to solve ethical challenges as well as learning the methods of corporate social responsibility to improve the strategy of companies and their day-to-day impact on society and the environment.

Taught by: Ketill Berg Magnússon & Øyvind Kvalnes

I think we are seeing it clearer and clearer that business leaders must be able to make ethical decisions and contribute towards a common sustainable future. That is why I like the programme's great emphasis on preparing leaders for a practical and responsible contribution to society. I enjoy particularly the depth and level of students' discussions about difficult issues in business.

Ketill Berg MagnússonKetill Berg Magnússon.

In more detail

In business, companies produce goods and services which they hope will benefit their customers as well as generating profits. Doing so, companies use social and/or natural resources and interact with numerous stakeholders which are affected by their decisions. Company actions can have both positive and negative effects on people in their society and on the natural environment in which they operate. This course introduces methods in Business Ethics (BE), Corporate Social Responsibility (CSR) and Sustainability in order for people to reflect on and improve their ability to demonstrate responsible leadership in business.

Credits:

4 ECTS

Final Project: Innovation

What you learn

Students deepen their understanding on how opportunities are discovered, created and handled. They are in a better position personally to seek, find and understand opportunities as well as operating them. That knowledge can also be used in consultancy and coaching of entrepreneurs.

Taught by: Magnús Orri Schram, Svafa Grönfeldt, Þóranna Jónsdóttir

To me, entrepreneurship is a fascinating study as it encompasses the relationship between the opportunity – that is, the business environment, and the situation and personal traits of the individual. In our course the students are acting as consultants to entrepreneurs with real issues facing their startups. That is something that gives MBA students at RU valuable practical experience.

Magnus Orri Schram

Magnús Orri Schram.

In more detail

The final project marks a completion of the MBA study by assessing students' ability to excel in utilizing theories, models and tools encountered in the programme while working with real-life new ventures. The course focuses on the intersection of venture design and business. Students are introduced to tools and methods designed to analyse, evaluate and develop, launch and create scaling plans for start-ups.

Students are introduced to key elements and theories in entrepreneurship literature, like the relationship between the entrepreneurial opportunity and the entrepreneur as an individual, the role of knowledge, and human and social capital.

Teams will present their findings in front of two panels of academic and industry experts, at MIT in Boston and RU in Reykjavik. Students will demonstrate their ability to independently apply their knowledges and skills, models, theories, tools and frameworks from the course material provided in their study.

MIT designX Innovation Center

DesignX-logoStudent teams will work with a selection of alumni startups from the Icelandic Startups accelerator programs and apply an interdisciplinary venture design framework developed by the MIT DesignX innovation center at the Massachusetts Institute of Technology.

The methods of the four workshops draw on the power of human-centred design where close collaboration with stakeholders and detailed understanding of their needs can uncover insights and opportunities for truly creative solutions, product fit and successful launch and scaling of new ventures or corporate innovation projects.

The teams will work closely with startup teams, first analyzing their current operation and then develop plans designed to support the startup's local and global growth strategies including: product development, customer acquisition, organizational development, and financial planning needed to scale the new ventures and create a sustainable and viable businesses.

Four workshops

The program consists of four workshops, regular meetings with teachers, and a study trip to MIT in Boston in April. Designated deliverables are required following each workshop. Building on those deliverables, students will write a formal final report outlining their process, findings and recommendations. The program starts in September and will end in May where students present their findings in front of two panels of academic and industry experts, at MIT and RU in Reykjavik.

Credits:

8,5 ECTS

Orientation

The MBA programme starts with an Intensive two-day seminar for first-year students that emphasises team building while providing students with practical insight into the programme ahead.

 

Gunnar Steinn Magnússon

"The MBA programme provides you with best practice leadership skills for today´s business world, with an ethical focus. You learn both from teachers with global experience and students that are accomplished in the business world. The focus is on casework and open class discussions which enable critical thinking and force you out of the comfort zone."

 

 

Gunnar Steinn Magnússon, MBA 2017

CEO of Expectus



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