Work on the board not only requires a natural career path for a manager, but also the number of positions on the boards is consistently growing. However, the need for detailed information about the effective work of a board member and management of organizations remains high for Lithuanian managers. ISM Executive MBA invites managers to prepare for a career in boards together with the strongest lecturers of European business schools. The newly created Corporate Governance module will be headed by the Rector of the ISM University of Management and Economics, dr. Dalius Misinas, in cooperation with the Barcelona EADA Business School.
It will strengthen the competitive advantage of managers
ISM Executive School has just signed a cooperation agreement with EADA Business School. EADA’s management studies are among the 25 most highly valued in the world by the Financial Times in 2023. ranking One of the advantages of this partnership is the updated ISM Executive MBA studies and the new Corporate Governance module designed to promote the effective work of managers in boards. A few years ago, a contract was also signed with the IESE Business School of the University of Navarre, whose study managers were named the best in the world by the Financial Times for several years in a row. The ISM EMBA studies are already attended by IESE professors who join the Corporate Governance lecturer team with their colleagues from EADA, London Business School, INSEAD. One part of the lecture will be held in Vilnius, the other in Barcelona, not only for studying, but also for exchanging experience with the leaders of the Spanish company.
Working on the board is a very attractive career opportunity for managers, and there is still a need for highly competent and experienced board members in Lithuania. For some time now, managers, EMBA alumni, have been getting a question about when ISM will create a Corporate Governance module. This prompted the gathering of an international team of lecturers, with whom, during business case analysis, simulations and discussions, we will help managers understand the work of a board member, the role of the board in organizational strategies, ESG and other contexts, says Dr. D. Misinas has accumulated a long experience of working on the boards of Lithuanian and international companies.
From 2024 both future and current members of the board who want to increase their competences and update their knowledge will be able to study in the autumn module. According to D. Misina, working on the board not only brings with it a sense of meaning, but also a great responsibility. Therefore, the Corporate Governance module will examine both the main duties and responsibilities of the board, best management practices, organizational strategy, as well as ethical dilemmas, crisis management, strategic change leadership in organizations, financial indicators, and digital organizational strategy. Great attention will be paid to the topics of decision-making in boards and stakeholder management.
As the director of ISM Executive MBA studies, dr. Audron Nakroien, it is unique that managers of organizations and boards will deepen their studies by studying both in Vilnius and Barcelona, at the EADA Business School, so they can combine the two management experiences. After completing EMBA studies and modules, participants will receive a master’s degree and a joint ISM and EADA Corporate Governance certificate. The document notes that the manager is an expert in management in two higher education institutions and provides a competitive advantage when participating in company selections for the position of a board member. The module is valued at 15 ECTS credits.
The need for a constantly improving board member is growing
Harvard University recently published data that shows the processes taking place on the corporate boards of the Russell 3000 and the S&P 500 index. One of the most important is the number of board members with strong business strategy competence. The percentage of such members in S&P 500 index organizations decreased from 70%. in 2018 up to 59 percent 2023, and on Russell 3000 boards from 68 percent. 2018 up to 55 percent in 2023 It is indicated that in recent years, house and board members bring experts on finances or the distribution of our capital. The ability of managers to continuously strengthen and update competences is essential for a strong, efficient and independent board.
A. Nakroien states that managers of different organizations and some of them already working on the boards of various organizations will study together in that same EMBA class. This will allow them to share knowledge and experience with each other on job boards.
ISM EMBA is studied by top-level managers with an average management experience of 12 years. The average student is 40 years old. The study group consists of up to 30 managers. The management master’s study program lasts one year, and instead of supporting the final master’s thesis, managers take part in two self-consulting projects in the Republic of South Africa.
Find out more about ISM Executive MBA studies and the Organizational Management module IA.
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