What are managers taught at the International University of Finance on the example of an engineering company and a group of welding manufacturing companies
How to win on the economic front and not just stay afloat during the war, but also ensure development? A question to which both business and the state are looking for an answer.
The war shook the economy, but at the same time it opened a window of opportunities, which can transform Ukraine into one of the most powerful European economies, – the Rector of the International University of Finance Lyubov Smolyar is convinced. Do you remember the forecasts of foreign analysts in February, in the first days of full-scale aggression? The Ukrainian banking system was given a maximum of three days, and then it would be a collapse! However, the national banking sector has not only survived, but is gradually winning: the system of electronic payments is working, liquidity is increasing, and the funds of the population are increasing. The same situation is observed in other areas. Business is changing, but in order to stand up and start developing again, it is necessary to effectively manage business processes, to respond quickly to today’s challenges and circumstances. Hence, nowadays it is very important for managers and top management of companies to master modern management business tools that will allow them to ensure business development, even when there is a war in the country.
MBA for analysts, financiers, engineers, managers
The MBA programs of the International University of Finance, which has been providing second business education to future engineers, mainly students of the Kyiv Polytechnic, for 30 years, provide business knowledge and knowledge in the field of information technologies (“FinTech MBA”, “MBA – Business Analytics and Big Data”). They ensure the acquisition of competencies in engineering technology, innovation, entrepreneurship, management and transformational leadership (“Tech MBA”, “Executive MBA”). Each program has its own characteristics and is designed for a certain category of the course participants.
Let us say a few words about the most popular programs.
The “MBA – Business Analytics and Big Data” program is intended to train managers who are proficient in the methods of big data minining and use modern models and decision-making methods to optimize processes, and train competitive company managers and СEOs, business owners who want learn how to transform their organizations, implement analytical information and influence key business decisions in the era of digitalization.
The “FinTech MBA” is a program for highly professional executives with a strong financial analytical background, with an emphasis on quantitative methods and digital competencies.
The “MBA – Business Management and Transformational Leadership” program is aimed at training transformational leaders who will implement transformational changes in large and medium-sized companies at the nexus of digital technologies and business management. It is focused on creating an organizational design of a mobile and flexible company with an emphasis on a network of cross-functional teams; transformation of the business model and ecosystem at various stages of the company’s development; role modeling of digital behavior and the role of a leader in changing organizational culture in order to succeed in the world of rapid and dramatic changes.
The “Executive MBA” program is focused on the development of leadership qualities and managerial competencies, which make it possible to immediately integrate new knowledge into the real results of the company’s activity.
The duration of these programs is 2 years. Upon completion, the student is awarded a Master’s degree in Management and Business Administration in “Management” specialty and a state-recognized Diploma of the International University of Finance, in accordance with its accreditation by the Ministry of Education and Culture of Ukraine. IUF cooperates with universities in France, Austria, Turkey, Sweden, and Poland.
What changes does Ukrainian business need?
In addition to two-year MBA programs, the University offers corporate intensive programs, brief courses and professional trainings, advanced training programs.
The peculiarity of corporate programs is that they are drawn up individually for each company depending on the uniqueness of its business.
Modular format programs provide for combinations of different thematic units; they are flexible in terms of time and study schedule, in accordance with the needs of the customer.
Among the areas in which IUF offers individual programs are agile transformation of the organization, digital marketing and marketing analytics, development of the enterprise’s business model, leadership, financial and business analytics, etc.
Leaders of the Ukrainian market, such as “PlasmaTech” and Progrestech-Ukraine, already actively use such programs.
“PlasmaTech” is a leader in the production of welding electrodes and other high-quality welding products in Eastern Europe and beyond. More than 6,000 tons of welding products come off the conveyors of the “PlasmaTech” group of companies every month, which are exported to 26 countries. From year to year, the demand for “PlasmaTech” products grows by an average of 15%, hence, overall production constantly increases. Over twenty years, the company has grown from a small production in 2001 to a group of companies with 19 high-tech enterprises and two research centers. Currently, more than 2,000 employees work here.
The company made a specific request to the University of Finance: to “pump up” the skills of middle and senior managers, to teach them new trends in the field of business and related disciplines, to provide new tools for effective management. Of the three planned modules, the managers managed to complete exactly half, and then a full-scale war began. Now they want to continue their studies online.
“The peculiarity of our business is that it is diversified, and in the process of training, we discussed with the managers how different areas in our companies work, what is their level compared to other companies, how we should improve and reform the business. Another important point is the identification of weak points. There were a number of areas in which, according to the unanimous opinion of the majority of the team, we were lagging behind, and this helped to identify our weak points”, Maksym Mendus, deputy General Director for production, says about the experience of “PlasmaTech”.
The experience of cooperation between the International University of Finance and the Progrestech-Ukraine engineering company is successful.
Progrestech-Ukraine is the largest supplier of engineering services for Boeing in Eastern Europe. It is part of the Progrestechgroup International Holding Company, which consolidates engineering centers in Europe and North America and has 14 branches in various countries. The company, together with leading universities, implements a complex of educational projects and dual training programs for the qualified engineers training and their further employment.
The company has been actively cooperating with IUF since last year. The successfully implemented main project is the Progrestech personnel training in technical English. The University has selected the teaching staff and the program in accordance with the specifics of the activities of various categories of aviation engineers. Then a number of the company’s specialists received intensive training. Despite the fact that this educational process was interrupted by the war, the specialists quickly switched to another format and successfully completed their studies.
“All announced plans have been fulfilled. And this made us very happy, in view of our challenging specifics: it is very difficult to find a school that is ready to offer such training. Nevertheless, the teaching staff that was formed for our project, successfully solved the assigned tasks. Therefore, we will think about continuing cooperation, and, possibly, expanding it. At the very least, we will use the best practices that are available today. With the further expansion of the company, we will need these services in the future”, Maksym Gladskyi, HR Director of Progrestech-Ukraine says.
At least half of the academic programs in the field of finance, business analytics, economics, management, international business and international economics are updated at the International University of Finance every year. Most programs are available for study in any country of the world. It is possible to study online.
Currently, the University, like many other leading Ukrainian higher education institutions, is moving towards the European standards of education and modernization of educational programs, establishment of international cooperation.
In accordance with the challenges of time and changes in the Ukrainian economy, professional business education is changing and reorganizing in order to meet new requirements and quality standards in the near future.