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DIPLOMA IN FINANCIAL
STRATEGY
WWW.SBS.OXFORD.EDU
LEVEL PERFORMANCE
Since it was founded in 1996, the School
has become firmly established as one of
the most prestigious business schools
in the world. It is modern, dynamic and
The Diploma is for experienced finance at the forefront of business and finance
practitioners and senior managers. The research, yet is grounded in centuries of
programme is rigorous and intellectually academic tradition.
challenging. It provides graduates with Our admissions process is highly
the financial acumen of an investment selective and brings together an extra-
banker, the strategy techniques of a ordinary group of high achievers from a
consultant, and the business knowledge of wide variety of countries and industry
a finance director. It complements existing sectors.
qualifications and contributes towards
professional CPD requirements.
The Diploma programme is based on
four fast moving modules of teaching
from world leading experts in strategic
management, finance, and corporate
valuation.
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The Diploma is completed alongside
participants’ full-time role. The programme
consists of four core modules interspersed
by independent study and project work.
Each module is taught over four days of
intensive teaching at Oxford, concentrating
on one subject at a time. The project then
integrates and applies the insights gained
to an area of particular interest to the
participant or their organisation.
PROGRAMME
OUTLINE
The Saïd Business School has particularly rich expertise in the areas of
finance and strategy. The Oxford Diploma in Financial Strategy draws these
together to provide professionals with a distinct intellectual edge combined
with a practical understanding of business and value creation.
STRATEGY strategy models in the structured analysis of THE MODULE WILL COVER:
Strategy is the art of creating superior business issues and to devise and evaluate
Goals and Strategies
performance. It defines the business the future plans of action. They consider how
organisation is in, and how to structure organisations align internal resources and Competitive Advantage
and manage the organisation for long term capabilities with the external competitive
Industry Analysis
success. This module explains the process and macro-economic environment to
and practice of formulating the strategy formulate strategy. Participants develop the Strategy and Change
of individual business units – competitive analytic skills of a strategy consultant and Diversification
strategy – and the nature of strategy for the the ability to present, defend and interrogate
multi-business firm – corporate strategy. proposals in strategic decision-making. Global Strategy
Participants develop the ability to apply Managing the Multi-business Company
Strategy Process and Practice
FINANCE I The insights generated from this analysis THE MODULE WILL COVER:
This module identifies the sources of are employed in a discussion of cash flow
Introduction to Finance
investor value, and uses them to think about analysis and its application to investment
portfolio composition, investment choices, appraisal, and to business entry and exit Risk, Return, and Portfolio Theory
and corporate financial decisions. decisions. The corporation’s financing
The Capital Asset Pricing Model and the
Participants acquire a detailed choices are related to tax considerations
Cost of Capital
understanding of risk and return. They and to a wider discussion of agency effects
use the Capital Asset Pricing Model as within the firm. Cash Flow Analysis and Project Appraisal
the framework for a detailed discussion Financing Choices and Shareholder Value
of portfolio theory and the cost of capital.
Taxation and Corporate Finance
Corporate Governance
CORPORATE VALUATION The programme sharpens valuation THE MODULE WILL COVER:
This concluding module incorporates skills in a variety of contexts including
Fundamentals of Valuation
knowledge developed throughout the the valuation of human capital, firms in
programme and provides the in-depth financial distress, valuation in a competitive DCF and Project Analysis
understanding and ability to make optimal environment and in a private equity setting.
Valuing Human Capital
strategic investment decisions. In explaining Applications include large-scale investment
the mechanics of corporate valuation, we projects, brand launches, venture capital Value Creation
also discuss how to create (and destroy) investments, IPOs, mergers, diversification Relative Valuation
corporate value. We demonstrate that decisions, R&D, and joint ventures.
valuation is not a precise science, and that Valuation in a Competitive Environment
the strategic fit and successful integration Valuation Under Financial Distress
of projects is as important as the calculation
and analysis of a number. Valuation in a Private Equity Setting
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OXFORD EXECUTIVE POSTGRADUATE PATHWAY TO THE EXECUTIVE MBA
DIPLOMAS Many Diploma participants hold an MBA
Launched in 2006, the Diploma in Financial on entry, some will further broaden their
Strategy was the first in this series of knowledge by progressing onto this afterwards.
qualifications which offer executives the Participants who graduate from the Diploma
opportunity to study at MBA level in the areas in Financial Strategy and successfully apply
of most interest and relevance for their career. for Saïd Business School’s prestigious
Executive MBA (EMBA) programme will receive
The series also includes the: exemptions from four EMBA modules. They
also receive a reduction in EMBA fees of half
Diploma in Organisational Leadership
the Diploma programme fee.
Diploma in Strategy and Innovation
Diploma in Global Business
WHY THIS
PROGRAMME?
The Diploma is a unique education programme that allows experienced
executives to undertake high level professional development alongside a
senior level role and to gain a postgraduate Oxford qualification.
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The programme is designed for senior finance YEARS OF EXPERIENCE
professionals with a good first degree and at 0% 10 20 30 40 50
least five years’ experience. Participants are
30+ YEARS 5
likely to be middle or senior managers seeking
to reinforce their skill set and equip themselves 21 TO 25 YEARS 14
to lead the financial and business strategy of 16 TO 20 YEARS 8
their organisation.
Participants learn as part of a highly 11 TO 15 YEARS 32
PHD 9
GLOBAL PARTICIPANTS
0% 10 20 30 40
AFRICA 5
AMERICAS 16
ASIA 6
MIDDLE EAST 9
UK 36
THE DIPLOMA
CANDIDATE
“I am Head of Business Partnering The quality of the teaching and other material was entirely
and Reporting for Shared Services faculty is exceptional and it is a new which I found stretching and
at Skandia UK. My role is diverse privilege to be part of the Oxford enjoyable.
and covers many aspects of world. For me, an unforeseen The programme has widened my
finance, from sales reporting to risk and invaluable benefit was the knowledge and challenged some of
management of finance to all the opportunity to meet so many my original ideas and assumptions.
statutory and regulatory reporting people from different geographical It has helped to lift me out of my
for the UK group. I came on the and professional backgrounds specialist area and show how I can
Diploma in Financial Strategy to and to debate issues and form help others see how the financial
stretch myself and improve my relationships with them. strategy supports the overall
capability at the strategic level. I liked the fact that the business strategy and aims of the
TESTIMONIAL I believe that it is essential, programme is introduced with organisation.”
particularly in today’s climate, to the business strategy module. It
LYNZI HARRISON
be able to understand the bigger really set the scene for the rest of
Financial Services
picture and analyse proposals the programme and provides the
which will help Skandia meet the wider context and foundation for
ever changing needs of the market. the application of the financial
I found the programme rigorous aspects. Some of the material was
and intellectually challenging. a refresh from professional training
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FACULTY
The Diploma is taught by members of Oxford’s
outstanding finance and strategy faculty team.
The programme leaders bring access to world-
leading research and a wealth of industry
experience.
Dr Howard Jones joined Oxford Professor Alan Morrison is a Dr Jose Vicente Martinez is a Dr Han Ozsoylev is a University
from a successful 15-year career leading expert on corporate University Lecturer in Finance Lecturer in Financial Economics
in investment banking at Deutsche finance, corporate governance and and Fellow of Green Templeton at the Saïd Business School,
Bank and BNP Paribas. He was regulation. He is the author of College. He obtained his PhD in and Fellow of Linacre College.
Worldwide Head of Equity Capital numerous publications, including Finance from Columbia Business He teaches the core managerial
Markets, responsible for equity a book on the future of investment School, holds degrees from economics course on the Oxford
and equity-related capital raising. banks. Universidad Nacional de Rosario MBA. His current research deals
He earlier worked in debt capital Alan read mathematics at and Universidad Torcuato Di Tella with communication in markets
markets and fixed income trading. Brasenose College, Oxford prior and has been a researcher at the and its economic consequences,
Howard teaches the Capital to spells in Andersen Consulting Institute for Financial Research questions related to market
Raising Techniques, and Trading (now Accenture), Morgan Grenfell in Stockholm. His professional manipulation, and the causes of
and Market Microstructure courses and SG Warburg. He is a Fellow experience was gained in crashes and frenzies.
on the Oxford MBA and MSc in of Merton College and a regular Prudential Financial’s Buenos
Financial Economics and has consultant to corporations, public Aires office. Jose specialises in
particular expertise and experience bodies and governments and was capital markets, asset pricing and
in IPOs and primary markets. recently specialist advisor to the investor behaviour.
House of Lords Treasury Select
Committee.
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“I own my own company advising experience under your belt.
governments or companies on The programme piqued my interest
financial matters. I am currently to the point that I progressed onto
advising the government of the full Oxford Executive MBA.
Kazakhstan on restructuring their I found it an effective academic
banking sector, with specific foundation and the class around
responsibility for two banks with me provided a challenging overlay.
US$18bn under advisory. Bonds were forged which made the
MARCIA I attended the Diploma in programme truly memorable. The
FAVALE-TARTER Financial Strategy because I entire group was one you would
Financial Consulting wanted to re-test my financial want to be associated with and
knowledge and re-challenge certain we worked in a very conducive
concepts. It is good to test yourself environment. If you are considering
with colleagues who have a lot of taking the Diploma, my advice
experience. It’s one thing to learn would be do it, but be aware that
the theory when you are 21 but it is going to be harder than you
quite another when you revisit thought – which is a good thing.”
those concepts with 17 years of
NETWORKS
For centuries, the University of Oxford has produced some of the most
influential and respected people in business. Oxford graduates are
represented in every Fortune 500 Company, country and government
in the world.
THE OXFORD BUSINESS PRIVATE EQUITY FORUM into up and coming technologies THE SAS DISTINGUISHED
ALUMNI Organised by the Oxford Private as well as providing networking SPEAKER SERIES
The Oxford Business Alumni Equity Institute at the Saïd opportunities with key members The SAS Distinguished Speaker
provides a focus for Oxonians who Business School, the Private of the Silicon Valley business Series provides a further
have a special interest in the world Equity Forum addresses the community. Previous guests have opportunity for all students of the
of business. Regional chapters opportunities and challenges included: Max Levchin, Chief School to meet with leaders in
span every continent across the facing global investors in today’s Technical Officer at PayPal; business on an open and informal
world. dynamic environment. Previous Raymond Nasr, Director of basis. Speakers are normally CEOs,
As a member, graduates of panellists have included: Executive Communications, Google chairmen or founders and have
the Oxford Diploma in Financial Christopher Spray of Atlas Inc and Jeff Skoll, co-Founder and included: Sam Laidlaw, CEO of
Strategy will be entitled to access Ventures; Edmund Lazarus of President of Ebay. Neptune Oil & Gas; Hector Sants,
the alumni search directory, an Englefield Capital; Jonathan Blake CEO of the Financial Services
invaluable tool for networking with of SJ Berwin; Markus Golser of THE SKOLL WORLD FORUM ON Authority; Richard Greenhalgh,
organisations throughout the world. Graphite Capital; Robin Jarratt SOCIAL ENTREPRENEURSHIP Chairman of Unilever; Roland
Alumni are invited to attend of CVC Capital Partners, and Joe Organised by the Skoll Centre Berger, Founder of Roland Berger
regular seminars, lectures and Haim of Egon Zehnder. for Social Entrepreneurship, the & Co and Carl-Henric Svanberg,
other networking events, giving Skoll World Forum is the leading Chairman of BP.
current participants and alumni SILICON VALLEY COMES TO annual global event for social
the chance to meet, exchange OXFORD entrepreneurs. Previous speakers
ideas and get to know each other. Once a year the Saïd Business have included: Mohammed Yunus,
School invites technology business Founder of the Grameen Bank and
leaders, entrepreneurs, venture pioneer of microfinance initiatives
capitalists and others from Silicon in the developing world; Penny
Valley, California, to come to Newman, CEO of Café Direct, and
Oxford and take part in master Will Hutton, CEO of The Work
classes and panel discussions. Foundation.
These classes give valuable insight
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“I’m a director at a consulting firm from around the world. The
that offers advisory, financing modular aspect also allowed me
and management services, and to continue my full-time job, a
am responsible for overseeing tremendous benefit in its own
investments made by the firm right.
through our associated investment The Oxford Diploma in Financial
fund. I was looking for a Strategy has been, without a
programme to help me bridge the doubt, the right programme
GARY MINTER gap between my specialised real for me to develop the financial
Real Estate estate background and the broader understanding and strategic
world of corporate finance and outlook that I need to perform at
business strategy. the top level in my organisation.
The Diploma has certainly The friends I’ve made along the
provided that bridge. It has given way are an invaluable added
me the opportunity to learn from benefit. I know I will continue
esteemed instructors and to to draw upon the education and
discuss financial and strategic experience I’ve gained at Oxford as
ideas with top-level executives I progress in my career.”
ADMISSIONS CRITERIA
To be considered for a place on the programme, candidates
must be able to demonstrate the following:
WWW.SBS.OXFORD.EDU/DIPFINANCE 15
WWW.SBS.OXFORD.EDU Saïd Business School
University of Oxford
Executive Education Centre
Egrove Park
Oxford OX1 5NY
United Kingdom
Steve Brewster
Tel: +44 (0)1865 422727
steve.brewster@sbs.ox.ac.uk
www.sbs.oxford.edu/dipfinance
SAID BUSINESS SCHOOL TAUGHT PROGRAMMES EXECUTIVE EDUCATION Strategy and Change
The Saïd Business School is one
Diploma in Financial Strategy General Management The Oxford Scenarios Programme
of Europe’s youngest and most
entrepreneurial business schools. Diploma in Global Business The Oxford Advanced Management Consulting and Coaching for Change
An integral part of The University and Leadership Programme
Diploma in Organisational Leadership The CIO Academy
of Oxford, the School embodies The Oxford Management Acceleration
Diploma in Strategy and Innovation Finance
the academic rigour and forward Programme
thinking that has made Oxford a Executive MBA The Oxford Finance Programme for
Leadership
world leader in education. The Senior Executives
MBA
School is dedicated to developing a The Oxford Strategic Leadership
The Oxford Global Investment Risk
new generation of business leaders MSc in Financial Economics Programme
Management Programme
and entrepreneurs and conducting MSc in Major Programme The Oxford High Performance
The Oxford Private Equity Programme
research not only into the nature Management Leadership Programme
of business, but the connections The Oxford Private Equity Programme
What Next? For leaders with more to
between business and the wider in China
RESEARCH PROGRAMMES offer
world. Custom Programmes
DPhil Programme The Oxford Programme on
Negotiation