Patrick McNutt
PREPARING for an MBA is a decision faced by many executives at different times in their careers. Whether their studies are part time or full time, the choice is not often up to them.
With the intensive nature of today's business world, for most executives, the option is usually to study part time while simultaneously seeing to the needs of their respective firms.
The
The unique ``Manchester Method'' builds on real world case studies and a shared business experience. Our MBA is challenging: it presents new approaches to old business problems and it demonstrates the important link between business theory and everyday practice in modern companies.
Many executives in our MBA program have an engineering, business or financial background. The MBA provides unique on-line, e-learning support which compliments face-to-face, real-time workshops with the professors.
Managerial economics, one of the compulsory modules of the MBA program, benefits business leaders by enabling them to gain a strategic understanding of everyday business decisions.
The analysis of costs, for example, focuses on productivity and is equally applicable to both services and manufacturing companies. The approach to pricing power understands pricing in terms of the customer but also in terms of understanding the likely reactions from competitors.
For Chinese business leaders, for example, the managerial economics module demonstrates that demands for higher wages may not be a problem provided the level of productivity continues to increase and translate into more profits. Productivity gains are a crucial factor in maintaining a competitive advantage.
The use of game theory is an important distinguishing mark for the managerial economics module in the Manchester part-time MBA program.
For business leaders in China who want to become genuinely strategic and competitive there is an economic advantage to be gained in understanding costs and productivity, prices and competitor reaction from a game theory perspective.
