M&as and Corporate Strategy-InSEAD

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Expand your horizon. Make an impact.

2014 2015

Strategy Programmes

M&As andCorporateStrategy


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0M&As and Corporate Strategy 2014 2015

M&As and CorporateStrategy

Find the right path to optimise your businessportfolio

Developing and managing a successful

portfolio of businesses requires taking the right

path to acquire, redeploy or divest resources

and capabilities. Whether that means a

merger, an acquisition, an alliance, a licensing

contract, a divestment or internal development,

it is imperative to understand the pros and

cons of each path and to learn which is most

appropriate for a successful corporate strategy.

Research conducted at INSEAD shows that

most firms rely overwhelmingly on one option

internal development instead of selecting

a path that is best adapted to their corporate

strategy objectives. Sticking to a familiar route

may work in the short-term. In the long-term,

however, the risk is to end up simply following

the beaten track instead of learning how to find

the right path to growth. Our research shows that

the most successful firms are those that discover

how to supplement their internal development

or restructuring efforts with the right mix ofexternal corporate development tools, including

M&As, alliances, licenses and divestitures.

Mapping the path to optimise your portfolio

of businesses is a challenging task. With help

from INSEAD faculty and a select group of

peers, you will undertake a learning journey to

explore three critical questions:

What is the right composition of your

portfolio of businesses to provide the set of

resources and capabilities your company

needs to create value?

How to select the right mix of internal and

external corporate development tools to

manage your business portfolio?

How to develop a rigorous, holistic approach

to successfully manage M&As and divestitures

to strategically supplement your internal

development and restructuring efforts?

The curriculum of M&As and CorporateStrategy, has been designed by INSEAD

faculty based on their most recent research

and teaching innovations. It uses case studies

developed at INSEAD specifically for this

programme that feature real-world examples

of portfolio growth and restructuring, and

value-creating and value-destroying M&As and

divestitures. These are sourced from financial

services, telecommunications, packaging,

chemicals and manufacturing industries across

the world.

Key benefits

Define an optimal portfolio of businesses,

as well as the right mix of internal and

external growth

Enhance M&A capabilities through the

development of a disciplined and holistic

process for acquiring and integrating new

resources and skills

Design a post-M&A integration approach tha

fits strategic objectives, while also takinginto account human constraints

Faculty

Programme Director

Laurence Capron

Professor of Strategy

The Paul Desmarais Chaired Professor of

Partnership and Active Ownership

Co-author ofBuild, Borrow or Buy: Solving the

Growth Dilemma

Contributing faculty

Urs Peyer

Associate Professor of Finance


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Programme content

This unique programme has been built upon

the thought leadership developed at INSEAD in

corporate strategy, business portfolio strategy

and M&As. Through lectures, interactive case

studies, small-group projects and experience-

sharing workshops you will be equipped with

a set of frameworks, practical tools and world-class peer contacts that will make you better

prepared to tackle the critical corporate-level

issues of your organisation. Specifically, you will

be coached to:

Assess your business portfolio options

strategically

Understand what drives companies to grow

or restructure their business portfolio

Evaluate your business portfolio and

determine the appropriate businesses toacquire, restructure or divest through a

disciplined decision-making process

Develop a corporate parenting advantage

by adding greater value to an individual

business unit through discipline and cross-

business linkages

Select the right mix of internal and external

corporate development tools

Understand the opportunities and weigh

the risks associated with the use of eachcorporate development tool: build, acquire,

ally, license or divest

Select the optimal mix of corporate

development tools to grow and restructure

your business portfolio

Decide when and how to use less integrative

modes of resource acquisition than M&As,

such as alliances and joint ventures

Select, value and successfully integrate M&As

Counter the social and psychological

pressure of industry-wide waves of M&As

with a rigorous due diligence process

Evaluate valuation proposals by

understanding and quantifying synergy

drivers in M&As and learn how to capture

value from your M&A deals

Integrate M&As into your corporation whilst

retaining the value of the target capabilities

and people, especially with small

entrepreneurial structures

Foster active ownership and implement

timely divestitures

Recognise when resources or businesses

should be divested and select the right

divestiture tool

Handle takeover offers from private

equity firms and compare them with

those of strategic buyers and with internal

restructuring options

Identify and capture opportunities from

selling entrepreneurial firms.

Participant profile

The programme is designed for:

CEOs, general managers, senior executives,

board members and those responsible forcorporate strategy

Corporate development officers, heads of

M&As and those responsible for corporate

partnerships

Company advisors, such as lawyers and

investment bankers, or private equity

executives concerned with M&A deals.


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Some of our past participants

have included

Head of M&A

Iberdrola

Spain

Director

Deloitte and ToucheSweden

Assistant VP- Strategic Investment Planning

PT Telekomunikasi

Indonesia

Manager New Business Scouting

Clariant International

Switzerland

Director of New Business Development

GracoBelgium

Chief Financial Officer

EADS

France

Business Development

Enel Produzione

Italy

Acquisitions Executive

Halma

The United Kingdom

Director Business Development

Saudi Telecom Company

Saudi Arabia

Strategy and Development Executive

Life Healthcare Group Pty Ltd

South Africa

Assistant Vice President, Corporate

Development

LoyaltyOne

Canada

Business Manager Strategy Development

and Projects

LyondellBasell

Germany

Head of Internal Audit / M&A Leader

Midis Group

Lebanon

Director Corporate Development

Midmark

The United States

CEONortek

Norway

New Business Development Manager

PETROBRAS

Brazil

CEO

Commercial Bank of Dubai

United Arab Emirates

DirectorRabobank

The Netherlands

CFO

BBDO

Singapore

Senior Vice President, Business

Development R&D

Stora Enso

Finland

Corporate VP

Novo Nordisk

Denmark

Great immersion in the M&A process and

alliance for further, and faster, sustainable

growth opportunity.

Global Product Line Director

Borg Warner Turbo Systems

Germany


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Region Europe 71%

The Americas 11%

Asia Pacific 9%

Near/Middle East 6%

Africa 3%

Industry

Function

Natural Resources 18%

Services 16%

Finance & Banking 14%

Pharmaceuticals

& Chemicals 12%

Electrical

& Engineering 10%

Telecommunications 9%

Transportation 5%

Consumer Goods 4%

Heavy Industry 3%

Other 9%

Business Dev./

Corporate Plan. 32%

General Management 27%

Finance 15%

Sales & Marketing 7%

Project Management 3%

Manufacturing & Prod./

Operations 2%

Other 14%


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Asia Campus

Campus Information

Europe CampusINSEADs 8-hectare Europe Campus is situated

on the edge of the beautiful, historic town of

Fontainebleau, France. It nestles in the vast

Forest of Fontainebleau yet is less than 1 hour

from the centre of Paris and international

airports. Facilities are of the highest standard

and include: 29 lecture theatres, many

classrooms, study areas, 2 restaurants, a bar, a

bookshop, extensive library resources, a fully

equipped gym and 2 on-campus hotels with a

total of 158 rooms.

Abu Dhabi Campus

Abu Dhabis city centre is home to INSEADs

third campus, just 40 minutes from the airport

and 10 minutes from the Corniche. This

new, 14-storey, 6,000 square-metre building,

purposely designed for Executive Education,

has 3 lecture theatres, 2 conference rooms,

classrooms, study areas, a library, a restaurant

and prayer rooms.

INSEAD is unique among leading businessschools in having a 3-campus structure

spanning Europe, Asia and Abu Dhabi. Each

campus is highly cosmopolitan and has its own

world-class faculty in residence. Executive

Education programmes run at 1, 2 or even all 3

locations, while Customised Programmes can

be held anywhere in the world.

Asia Campus

The Asia Campus in Singapore occupies a

1.8-hectare site in the heart of the citys Buona

Vista knowledge hub just 30 minutes from

the airport and 15 minutes from the financial

district. Its state-of-the-art facilities (currently

being extended for the second time) include:

8 lecture theatres, classrooms, study areas, a

restaurant, 2 bars, a 24-hour library, a fitness

centre and 85 hotel rooms for participants.



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Europe Campus Abu Dhabi Campus



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The INSEAD LiVE Series

Todays insights for tomorrows businessThe INSEAD LiVE Seriesis a unique

opportunity for you and your organisations

executives to listen to and interact in real

time with INSEAD thought leaders. Through

a series of webinars, you will hear expert

views on todays hot topics and their impact

on tomorrows business. You will also have the

chance to ask questions that are important for

your business and get immediate answers

from world experts.

The INSEAD LiVE Seriesis the convenient

platform to gain access to INSEAD professors

without leaving the workplace. This means your

learning is incorporated into your day-to-day

activities with immediate effect.

About our speakersThrough our online virtual seminars, you will

gain a fresh and up-to-date perspective on

current world and business issues from leading

INSEAD faculty members.

INSEAD faculty are known for exploring new

domains beyond their individual fields of

research, driven by a determination to share

their knowledge and their vision as they

uncover solutions to multicultural management

challenges. More than this, they are acutely

aware of the impact of a constantly evolving

global economy on your business.

To find out more and register

To find out more and register for the INSEAD

LiVE Series, visit: http://executive-education.

insead.edu/webinars/


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INSEAD Executive Certificatein Global Management

Who is eligible?

The INSEAD Executive Certificate in Global

Managementis awarded to participants who

successfully complete a set of carefully selected

programmes over a given period of time.

To find out more about theINSEAD Executive

Certificate in Global Managementand

which programmes entitle you to the credential

please visit our website at http://executive-

education.insead.edu/executive_certificate_global_management/

Deepen your global management and

leadership skills

The INSEAD Executive Certificate in Global

Managementis a formal recognition for

continuous learning and development in the

field of global management and leadership.

Furthermore, it enables you to customise your

professional development through our wide

range of innovative programmes.

Key benefits

Gain a formal qualification from INSEAD

Build specific skills that are important to the

needs and success of your organisation

Incorporate all the latest learning, tools

and research into your organisation to

give a competitive edge and develop fresh

perspectives in developing ideas and

solutions

Tailor a set of innovative programmes

according to your needsInteract with a diverse group of peers on a

continuous basis



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Practical information

Application procedure

Places on the programmes are confirmed on

a first-come, first-served basis, taking into

consideration the applicants level, objectives

and the diversity of the classes.

We recommend that you submit your completed

application form as early as possible,

preferably 6 weeks prior to programme

commencement. The Admissions Committee

will review your application and advise you on

the outcome as soon as possible. Please do not

hesitate to contact us if you have any questions

about which programme may best suit your

objectives or for any additional information.

Note: all our Open-enrolment Programmes are taught in

English and participants should be able to exchange complex

views, listen and learn through the medium of English.

Calendar 2014 2015

Tuition fees*

The programme fee covers tuition, course

materials and lunches on working days as

well as the closing dinners. It does not include

travel, accommodation and other incidentals.

Participants will have to settle accommodation

expenses and other incidentals before the end

of the programme.

*Fee subject to change. For programmes delivered in France,

VAT (20%) to be added for companies based in France, or for

European companies where no VAT number is supplied. Forprogrammes delivered in Singapore, GST (7%) to be added for

Singapore-registered companies.

Contact us

For further information on M&As and

Corporate Strategy programme, contact:

INSEAD Europe Campus

Margy Fuller

Tel: +33 (0)1 60 72 41 27

Fax: +33 (0)1 60 74 55 13

E-mail: [email protected]

Visit our website: http://executive-education.

insead.edu/mergers_and_acquisitions/


**This programme is eligible for the INSEAD Executive Certificate in Global Management.(1)Participants are advised to arrive the evening before as the programme starts early in the morning, unless otherwise noted.

Programme Date Location Length Fee* Level Cert.**

M&As andCorporateStrategy(1)

30 June4 July 2014

37 November 2014

913 February 2015

1519 June 2015

1216 October 2015

Fontainebleau 4.5days

7,950 Board-level

C-level

Experienced GeneralManager

New General Manager

Senior FunctionalManager

Specialist


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INSEAD Europe Campus

Boulevard de Constance

77305 Fontainebleau Cedex, FranceTel: +33 (0)1 60 72 42 90

Fax: +33 (0)1 60 74 55 13

Email: [email protected]

INSEAD Asia Campus

1 Ayer Rajah Avenue

Singapore 138676

Tel: +65 6799 5288

Fax: +65 6799 5299


INSEAD Abu Dhabi CampusMuroor Road Street N4, P.O. Box 48049

Abu Dhabi, United Arab Emirates

Tel: +971 2 651 52 00

Fax: +971 2 443 94 61


http://executive-education.insead.edu

Documents

M&as and Corporate Strategy-InSEAD