Cardiff Business School MBA Programme
www.cardiff.ac.uk/carbs
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Why Cardiff Business School?
www.cardiff.ac.uk/carbs
Introducing Cardiff Business School
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Cardiff Business School: Ranked amongst the Best Business Schools in the UK Cardiff Business School has an international reputation for its research excellence. The latest UK Government Research Assessment Exercise has ranked the School fourth in the UK in terms of its research quality. 70% of the School’s research is ranked either ‘world-leading or ‘internationally excellent’. The School is ranked 2nd in the UK in terms of the proportion of its research which is ‘world-leading’ (the highest possible category), placing it second only to London Business School. The School uses research-led teaching across its full portfolio of Specialist Masters programmes. This means that our faculty members teach students the cutting-edge expertise needed to forge a successful career.
Research Assessment Exercise 2008 1st 2nd 3rd 4th 5th
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15th Source: Times Higher Education
University Business Schools London Business School Imperial College Cambridge Cardiff Warwick Lancaster Bath LSE Oxford King’s College London Strathclyde Manchester Leeds Nottingham Cranfield
A Reputation for Excellence Cardiff Business School is ranked 4th in the UK for its research excellence. The School has recently become a member of both the American-based AACSB International, The Association to Advance Collegiate Schools of Business and of the European Foundation for Management Development (EFMD – EQUIS).
Excellence in Teaching In the last Teaching Quality Assessment exercise, teaching at Cardiff Business School was assessed as ‘excellent’. Our knowledge, experience and research underpins teaching on all of our postgraduate programmes, informing our students of valuable ideas and practices at the frontier of global business developments.
A Global School in the UK The faculty of Cardiff Business School come from 20 countries, our current students come from 60 countries and our alumni represent 120 countries, reflecting the School’s global approach to its work and its international stature. The School’s international reputation allows faculty and institutional collaboration with other leading universities overseas.
A Career Head-start Graduates of the School are placed on excellent career tracks across the range of business and management careers in firms and government organizations. Regular recruiters of our students, to name a few, include KPMG, PriceWaterhouseCoopers, Deloitte, HSBC, JPMorgan Chase, Morgan Stanley and Unilever.
World Class Faculty The School attracts world-class faculty who occupy key positions in their respective fields, in the leading international business and research associations and membership bodies. Faculty are on the editorial review boards of many of the leading academic journals. Recognition for Outstanding Research The School is ranked 2nd in the UK for the amount of its research which is ‘world-leading’ – second only to London Business School. At the Frontier of Business Decision Making The School makes a useful contribution to both policy and practice on a local, national and international level, with research informing organisations such as the Foreign and Commonwealth Office, the United Nations, the Treasury, the Department for Trade and Industry and the Department for Communities and Local Government, and working on consultation projects for blue-chip, global firms. An Excellent Learning Environment Postgraduate students join a community of some 700 postgraduates specialising in Taught Masters programmes and our MBA. The diversity of our student body directly informs teaching and experiences are shared from all over the globe. In excess of £160 million has been invested to provide modern and well-equipped facilities, ensuring a first-class environment in which to live and study. Cardiff is one of the few UK universities to provide a dedicated facility for postgraduate students. The Graduate Centre offers additional academic and social facilities and a centre for the broader postgraduate community.
One of the Best Universities in the UK The School is part of Cardiff University, itself a Russell Group institution (the UK’s equivalent to the North American Ivy League). An Attractive Location The University is based in and around Cardiff ’s magnificent city centre, alongside the National Museum and Galleries of Wales, and boasts much fine parkland. A compact campus means that the town centre, Students’ Union, Business School and Halls of Residence are in easy walking distance of each other. The Capital City Advantage The fastest growing capital in Europe, Cardiff is two hours by train from London and was recently named the most desirable city in which to live and work in the UK. This dynamic city boasts the Millennium Stadium, the National Assembly for Wales, the cultural Wales Millennium Centre and hosts major sporting events, world class concerts, film festivals and much more. Both the coastline and mountain ranges of Wales can be easily explored from the capital.
01 Students outside the Julian Hodge Building.
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Why Cardiff Business School? Welcome
www.cardiff.ac.uk/carbs
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Contents 03 04 06 07 08 14 16 18 20 20 22 24 26 27
Welcome from the Dean Learning with Us Introducing the Cardiff MBA Programme MBA Programme Structure The MBA Programme Cardiff: The University Cardiff: The City Your Environment The Graduate Centre Accommodation International Students Careers The Faculty of Cardiff Business School Applying to Cardiff Business School
Welcome to Cardiff Business School… Here at Cardiff we have been providing a business education for some 140 years: a heritage of which we are proud and through which we have developed a reputation as one of the leading business and management schools in the UK. The School is constantly developing: we were among the first to provide a Master of Business Administration programme some 27 years ago and continue to update and to innovate within our suite of degree programmes, equipping tomorrow’s business people with cutting-edge expertise. Our faculty are at the forefront of business and management research. The knowledge, experience and research of my colleagues underpins our teaching on all our postgraduate programmes, informing our students of valuable ideas and practices at the frontier of global business developments. Our programmes are designed to challenge our graduates academically whilst providing them with the rigorous knowledge needed to succeed in a global business arena which becomes ever more competitive. Throughout your time with us, we will provide you with all the support you need to achieve your best and to forge a successful career for your future. As a postgraduate student at Cardiff Business School you will contribute to a vibrant community of 700 other graduates, from over 60 countries. In addition to the seminars, lectures and workshops which will form your formal schooling, you will be invited to attend guest lectures given by the internationally renowned scholars and policy makers who visit us. The whole spectrum of activities offered by the Students’ Union will be open to you to enjoy and all of the resources of Cardiff University will benefit you both when you study with us and when you become one of our alumni when you leave. Our students find living and studying in Cardiff, itself a friendly and prospering city, to be both rewarding and enjoyable. I hope that this brochure provides you with the information you need to join us at Cardiff. I wish you every success with your studies and look forward to welcoming you to our School in the future. Professor Robert McNabb Dean
01 Students enjoy the sunshine outside Main Building. 02 The annual MBA dinner. 03 Professor Robert McNabb.
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Why Cardiff Business School? Learning with Us
www.cardiff.ac.uk/carbs
Learning with Us
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An Innovative Programme Cardiff Business School continually re-evaluates its programmes to ensure that they cater for the requirements of tomorrow’s business leaders. The new Cardiff MBA programme is designed to provide present and aspiring managers with the cutting-edge tools and techniques that will enable them to deal with the challenges, complexities and dynamism of an increasingly volatile global business environment. Excellent Teaching In the most recent UK Teaching Quality Assessment performed by the UK government, teaching at Cardiff Business School was assessed as ‘Excellent’. You will be taught in the way that best suits your programme, ranging from lectures, seminars, tutorials and industry visits. Case-based teaching will allow you to work with real-life examples of contemporary business practice, drawn from the activities of internationally renowned organisations. Small group work enables you to develop your skills of teamwork as well as help you to understand the dynamics of intra organisational groups. A thriving, stimulating environment As a student of CBS you’ll become a member of a thriving postgraduate community. 700 postgraduate students join us every year from a range of backgrounds and with experience of different cultures and working environments. The opportunities to extend your learning are endless, from accessing dedicated postgraduate resources to attending guest lectures and seminars given by speakers of international repute. Facilities such as our New Trading Room give you the opportunity to learn practical skills to put you ahead in the career marketplace.
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A Global Perspective Cardiff Business School is a global school located within the UK and as such aims to give our students a global perspective. Our programmes are designed with this internationalisation in mind and focus on preparing you for a multicultural business environment, equipping you with the skills you’ll need to succeed within it. A supportive network Before you arrive in Cardiff you will be assigned a faculty member who will act as your Personal Tutor, onhand to help with any academic issues you might encounter during your studies and to supervise your progress. A dedicated Student Support and Disability Officer is available within the School to advise on matters such as finance, regulations and to help you navigate the support services available both within and outside the University. A view to the future Whilst our programmes will provide you with the business knowledge needed for you to excel in your chosen area of business, we also provide a range of career services dedicated to helping you find graduate employment after graduation. Alumni benefits Our relationship with our students doesn’t end when they graduate. Cardiff Business School increasingly provides networking and social opportunities for graduates when they leave us through our growing number of alumni chapters and industry-specific groups. From 2009, an online alumni portal will provide jobs boards, discussion forums and the opportunities to post profiles to enable global networking. We hold events both in the UK and other countries worldwide. We keep our graduates up-to-date with developments at the School through our magazine Synergy, which is available for alumni for use in sharing their news with their contemporaries.
0 01 A small group tutorial at the School. 02 Main Building. 03 Our International Recruitment Team Sarah Rees and Don Barry, with MBA alumnus Nirmal Chhabria, who recently won the award of Young Business Achiever of the Year at the Business in Wales Awards for his start up company, Niva Technology. 04 The School provides excellent library facilities.
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The MBA Programme
www.cardiff.ac.uk/carbs
The Cardiff MBA ‘new outlooks…’
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An Introduction
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The Cardiff MBA: Key Facts
The MBA will provide you with a new outlook on the experiences and education you gained before you joined us and a clear insight into business practices for your future in the changing global environment. You will leave us ready to turn theory into practice, having had the opportunity to test your new found knowledge within the integrated Business Plan, with input from an external business practitioner. Whilst the programme gives you detailed knowledge of the theories at the core of business management, it also gives you the opportunity to specialise within one of the key management functions. The programme is truly international in focus, providing knowledge and skills that will be invaluable in the international marketplace. As well as equipping you with the knowledge foundation you need to excel in the business world, the MBA will develop your interpersonal skills, your business intuition, your sense of entrepreneurship and your ability to tackle everyday challenges, within a supportive environment of friendly competition and collaboration. The MBA will provide you with:
Class size: 300 students International students: 95% of cohort Course duration: 12 months full-time, commencing September Study programme: Phase 1 Foundation Phase 2 Application Phase 3 Specialisation Phase 4 Business Project
• The competence and the confidence to apply new knowledge to key areas of business and management • The ability to solve practical management problems by turning theory into practice • An understanding of working in an international, global, multi-cultural, diverse environment • Developed communication, self-management and timemanagement skills
0 01 The Aberconway Building. 02 Resource Centre, Main Building. 03 04 The annual MBA dinner.
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The MBA Programme
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The MBA Programme
www.cardiff.ac.uk/carbs
01 The Julian Hodge lecture theatre.
The Cardiff MBA The Programme
02 Cardiff Business School grounds.
The Cardiff MBA programme consists of a set of core subjects studied in the Foundation and Application stage, a choice of optional pathways and an individual Business Project. 01
During the Application Stage, students will undertake a Business Plan that is group based, giving you the opportunity to develop team working skills. Assessment by external business give you an opportunity The Cardiff MBA recognises thatleaders today’swill business managers need to test ideasand andthorough to developunderstanding further understanding theglobal haveyour a broad of all theofkey dynamics of business. business issues as well as expertise within their chosen business sphere. The MBA will allow you to explore, analyse and apply both general and function-specific theories, concepts and techniques to the challenges and complexities that you will face in your career.
The opportunity to specialise… The The school opportunity offers different tooptional specialise… pathways: Marketing and Strategy,
Phase 2 Application – January to March
The Application phase provides you with the opportunity to advance your thinking and knowledge by developing and applying the core themes studied in the Foundation phase. This phase focuses on the strategic business context, the development of organisational human capital, the management of the marketing function and the Phase 1 analysis and control of financial and business operations. Foundation Phase 1 – September to December Phase You will 2 undertake a business plan that is group based, giving Foundation Stage (core) – September Application you the opportunity Stage to develop (core) team–working January skills. to You March will work Designed to December to give you a strong grounding in the basics of business in an international, multicultural team where you will solve complex management, the Foundation phase introduces you to the core business problems, integrating the skills and knowledge gained other modules. The group business plan will involve input from •components Study Skills that make organisations function. You’ll understand the •inFinancial Management •resources Financial that Analysis an organisation and Controlrequires, the processes that control •external Humanbusiness Resourcementors, Management giving you the opportunity to test your •organizational Organisationaloperations Behaviourand the approaches through which •ideas Marketing and toManagement develop further understanding of the dynamics •organisations Marketing relate to their internal and external environments. •ofStrategic businesses. Management •ItEconomics also develops andthe thestudy Business skillsEnvironment you will need to complete your • International Business •MBA Operations study successfully. Analysis • Group Economics Business and the PlanBusiness Environment • Financial Management • Study Skills • Human Resource Management • Financial Analysis and Control • Strategic Management • Organisational Behaviour • Marketing Management Phase 3 Specialisation Stage • Operations Analysis • Group Business Plan • Marketing General MBA Marketing and Strategy Pathway Human Resource Management Pathway 3• International Electives Business 1 Lead Elective (core) 1 Lead Elective (core) (any combination from the Elective • Marketing Research • Strategic HRM list below)
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+ Business Project
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+ 2 Electives from:
+ 2 Electives from:
• Advances in Strategic Management • Consumer Behaviour • Global Marketing • E-Business
• International Management • Management Consulting • Management of Change • Management in Emerging Economies
+ Business Project in a Marketing and Strategy area
+ Business Project in a HRM area
‘Like most international students, I was a little apprehensive about studying abroad. But the multicultural environment makes Cardiff one of the most desirable cities to live in. The Business School has an international reputation, excellent library facilities and a good teaching staff.’ Mitali Chitre
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Human Resource Management, Accounting and Finance, Operations Increasingly, Management MBA and students Logistics want andto International focus their studies Management. on specific Pathways are structured so that you can choose carefully-packaged areas of business and management. subject combinations to develop knowledge in specific areas of The School offers different optional pathways: Marketing and business, linked to that chosen in the Application phase. Strategy, Accounting and Finance, Human Resource Management, and Operations Management and Logistics..
Phase 3 Specialisation Marketing andStage Strategy – April Pathway to June
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Phase 4 The Business Project – June to September
Choose one pathway the six pathways below: Individual 10,000 word written report. Stage – Project Specialisation Stage from – Core Specialisation Stage – Electives Specialisation Marketing Research 2 Electives: Two from Advances in Strategic Business Project in a Marketing theGlobal traditional dissertation, thearea Business Project provides Management, ConsumerReplacing Behaviour, and Strategy Marketing and E-Businessthe opportunity to test the theories you have learnt in a simulated, practical environment.
Human Resource Management Pathway Phase 3 continued Specialisation Stage Accounting and Specialisation Stage Finance – Core Pathway 1Strategic Lead Elective HRM (core) • Corporate Governance
International Management Specialisation Stage – Project Pathway 1Business Lead Elective Project(core) in a HRM area • International Management
+ 2 Electives:
Operations Management Specialisation Stage – Electives and Logistics 2 Electives: Two from International HRM, Pathway 1Management Lead ElectiveConsulting, (core) Management of • Strategic Change Operations and Management Management in Emerging Economies + 2 Electives:
• Managerial Finance
• International Sustainable Business
Specialisation Stage – Core Corporate + Business Governance Project in an Accounting and Finance area
Specialisation Stage – Electives 2+ Electives: Business Project Managerial in anFinance Operations and Multinational Management/Logistics Financial Management area
• Global Marketing • International Sustainable Business • Management in Emerging Economies • Multinational Financial Management Specialisation Stage – Project Business + Business Project Project in in anan Accounting International and Finance area Management area
Accounting • Multinational Financial and Finance Management Pathway• Lean Operations
+ 2 Electives from:
Operations Elective Modules Management and Logistics Pathway • Advances in Strategic Management •Specialisation Strategic HRMStage – Core •Strategic Marketing Operations Research Management • Corporate Governance • Strategic Operations Management • Consumer Behaviour
• Electronic Business Stage – Electives •Specialisation Global Marketing •2International Electives: International Management Sustainable •Business, International Purchasing Sustainable Logistics Business and Materials •Management Management Consulting • Management in Emerging Economies
• Management of Change Stage – Project •Specialisation Managerial Finance •Business Multinational ProjectFinancial in an Operations Management •Management/Logistics Lean Operations area
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The MBA Programme
www.cardiff.ac.uk/carbs
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The MBA Programme
www.cardiff.ac.uk/carbs
01 Main Building.
The Cardiff MBA The Programme
02 Students have access to a number of 24 hour computing facilities. 03 The University boasts excellent library and resource facilities. 04 Students benefit from state-of-the-art IT facilities.
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Phase 1 Foundation – September to December
Designed to give you a strong grounding in the basics of business management, the Foundation phase introduces you to the core components that make organisations function. You’ll understand the resources that an organisation requires, the processes that control organizational operations, and the approaches through which organizations relate to their international and external environments. It also develops the skills you will need to complete your MBA study successfully. (For topics covered see page 8).
Phase 2 Application – January to March
The Application phase provides you with the opportunity to advance your thinking and knowledge by developing and applying the core themes studied in the Foundation phase. This phase focuses on the strategic business context, the development of organisational human capital, the management of the marketing function and the analysis and control of financial and business operations. You will undertake a business plan that is group based, giving you the opportunity to develop team working skills. You will work in an international, multicultural team where you will solve complex business problems, integrating the skills and knowledge gained in other modules. The group business plan will involve input from external business mentors, giving you the opportunity to test your ideas and to develop further understanding of the dynamics of businesses. (For topics covered see page 8).
Phase 3 Specialisation – April to September Students choose 1 lead elective: • Corporate Governance • International Management • Marketing Research • Strategic Operations Management • Strategic Human Resource Management
Advances in Strategic Marketing This module explores the nature of contemporary strategic marketing to promote a deeper critical understanding of conventional strategy approaches and emergent ideas arising from new paradigm challenges. Creativity is applied to engender innovation in strategy, existing ‘Western’ strategy frameworks are challenged, and risk, implementation, knowledge and time are examined as key drivers creating 21st century strategies. Consumer Behaviour This module builds on the knowledge gained from the core Marketing module by providing an insight into why consumers behave the way they do, including the psychological, social and cultural underpinnings of consumer choice. A good understanding of the main influences that affect consumers is essential to managers, since most marketing activity is based on beliefs about buyer behaviour. The aim of the module is to provide participants with a critical knowledge of the relevant buyer behaviour theories, enabling them to develop successful marketing strategies. Corporate Governance Corporate governance is an evolving area in the UK both in the business world and in academia. In the business world, there has been worldwide development of codes of best practice for corporate governance, stemming from the publication of the UK Cadbury Code in 1992. This module aims to further students’ understanding of recent corporate governance reforms in the UK, within an international context. The module also seeks to adopt a broad perspective on corporate governance, introducing students to recent developments in the areas of social responsibility, ethics, accountability, corporate social and environmental reporting and socially responsible investment. The module adopts both a theoretical and practical perspective.
and two other electives from within one pathway or from a combination of pathways. 0
‘Cardiff University is a great place to start a career. The MBA programme gave me an opportunity to broaden my horizons and improve my skills and knowledge. The staff and the faculty at the University transformed my thinking and creativity and made me approach the highest standards of intellect.’ Gaurav Mehra
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Electronic Business Information and communication technologies (ICTs) have transformed both the way in which businesses now operate internally and the way in which businesses interact with other businesses and their customers. Electronic business is the term used to describe this interest in the transformation potential of ICT to increase the performance of business. This module focuses on the key business issues associated with eBusiness and eCommerce and develops sufficient understanding of the technical issues to enable the student to discern the significance of ICTs to modern business. Global Marketing In this module we examine the ways multinational enterprises develop their international marketing strategy. We explore the stages of globalization and we use case study methodologies to deepen students’ understanding of a number of themes. Topics include: the nature and importance of global marketing; firm internationalisation; standardization and adaptation in global markets; the importance of market research and information utilisation in global marketing strategy and global marketing strategy in the new millennium. International Management The aim of this module is to provide students with an understanding of the key cultural, national and organizational issues that impact on the management function in a global business environment. Active involvement in seminars, case-analyses and discussion groups will enable discipline specific intellectual and transferable skills to be developed. International Sustainable Business The module examines the way in which business is responding to the challenges posed by recognition of the need to become sustainable. Among the topics covered are: sustainability as a concept; life-cycle analysis; industrial ecology; ecological foot-printing; corporate social responsibility; the sustainable consumption and production movement; and bio-mimicry. The module reviews policy measures affecting business and sustainability, and provides case studies of the more sustainable businesses currently trading. Examples will be drawn from a wide range of industries.
Lean Operations This module aims to enable students to develop a comprehensive understanding of the techniques involved in Lean Operations and value stream management. The student will examine lean tools and techniques - the concepts, practice and the competitive benefit of continuously improving processes and value stream management. We then examine how to take these lean tools and techniques and adapt them to achieve a lean enterprise and develop the international and global supply chains. The elective aims to synthesise the academic ‘theory’ with a strong appreciation of how to use the lean tools and techniques to develop the value streams encountered in all businesses. Management Consulting The Management Consulting module provides students with practical skills for the consulting world by engaging them with real-life consulting dilemmas. The module is based on a series of cases from the lecturer’s extensive consulting experience and tutorials from the leading management consultancies around the world. The course uses the Harvard Business School ‘Case Method’ which is deployed by most major consulting firms when recruiting candidates. Management in Emerging Economies Management in Emerging Economies provides students with a practical insight into the fast-growing Southern economies that are changing the face of the global economy. Throughout the world, companies from formerly marginalized economies are finding and exploiting market niches and transforming both their own countries and the traditional picture of multinational development. The module looks at the keys to success at the corporate, national and international policy levels. It examines why some development approaches succeed and others do not, and explores some of the challenges faced by operators in emerging and developing economies. Electives continue overleaf…
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‘In a one-year programme, Cardiff Business School has done a tremendous job because I personally believe the methodology of combining theory with practical case studies is very well-balanced.’ Hamza Javaid
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The MBA Programme
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The MBA Programme
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01 02 Lecture facilities at the new Julian Hodge Building.
The Cardiff MBA The Programme continued
03 Students can relax in the extensive parkland of the city centre.
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Electives continued from previous page Management of Change The aim of the elective is to describe and analyse the way organisations change and the role of managers in change processes. Students will be introduced to relevant theories and practices relating to change management and utilize various case studies and other exercises to put these to use. The elective focuses on how to diagnose the problems associated with major changes in organisations, combines understanding of major theories of change with recently developed techniques of change management, and critically appraises the relevance of a variety of change management approaches to different sectors of the economy. Students are encouraged to conceive the role of manager as ‘reflective practitioner’ and question their own underlying assumptions and much conventional wisdom. Managerial Finance The Managerial Finance module builds upon the Financial Management core module and aims to provide students with a more advanced knowledge and understanding of the theoretical and applied techniques of managerial finance. The topics covered are: working capital management and sources of short-term funds; financial strategies; capital investment decisions under conditions of risk and uncertainty; investment appraisal and capital rationing; inflation and its impact on investment appraisal; portfolio theory and the Capital Asset Pricing Model; mergers and acquisitions; Efficient Market Hypothesis; long term funds and the cost of capital and dividend policy.
Marketing Research The aim of this module is for participants to develop the knowledge and skills required to design, implement and evaluate commercial marketing research projects. The module will thus equip participants with the skills required to conduct and appraise qualitative and quantitative marketing. Strategic Human Resource Management The aims of the module are to link human resource issues with the strategies of firms and to deploy an explicitly international approach. The skills learned in the module will be transferable to a range of managerial activities both within firms and internationally.
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Teaching
Phase 4 The Business Project Replacing the traditional dissertation, the Business project provides the opportunity to test the theories you have learnt in a simulated, practical environment. Knowledge from across the subjects studied in the Foundation and Application phases will be integrated within this project, the final part of the Specialisation period. Teaching faculty from across the Academic Sections of the School will be involved within the project part of the programme. You will be supported by a member of faculty who will act as your internal project mentor throughout the duration of the project.
Strategic Operations Management The ability to manage businesses correctly and effectively in an increasingly complex marketplace is of increasing importance to many organisations. Strategic Operations Management provides students with a highly informative and practical knowledge base in which to develop, analyse and practise operations management theory in a range of different operational situations. Through a range of case studies, discussion groups and practical exercises, this module examines a range of general strategic operations issues such as: defining a robust operational strategy to enable company growth; defining customer value and developing quality systems products and services; re-engineering business processes in order to become leaner, more agile and responsive to customer demands; and, how Strategic Operations Management extends into company supply chains in order to achieve a seamless flow of products and services.
A key feature of the new Cardiff MBA programme is the emphasis on case-based teaching and learning. Students will work on cases which have been carefully developed to reflect the theoretical issues covered in the individual modules as well as practical business issues and problems. Typically, there will be formal lectures and these will be supplemented by small group teaching, where the key themes from the lectures are discussed in syndicate groups of between 12 and 14 students. There will also be the opportunity to attend additional ‘surgeries’ where further support for the quantitative subject areas will be offered in a small group environment.
Assessment The Foundation and Application phases will both be assessed by a combination of assignments and examinations. The exception is the group business plan, which is a 7000 word report. The elective modules within the Specialisation phase will be assessed by a combination of assignments, project and examinations. The Business Project of the Specialisation phase will be assessed by an individual report of 10000 words.
Multinational Financial Management The module examines key financial management issues faced by multinational corporations in undertaking international operations. Topics covered will include: an introduction to exchange rates and foreign exchange markets; issues involved in raising finance locally and internationally; foreign exchange exposure measurement and management; international derivatives and hedging; foreign direct investment; international investment decision-making processes, project appraisal in global companies; political risk; international working capital management; and international corporate governance. 0
‘The Cardiff MBA is a comprehensive, well-organised and exciting experience. As an international student, one gets to interact with colleagues of diverse cultures and professional backgrounds. This broadens the scope of learning and provides an international business perspective. The faculty is always eager to help in both academic and personal matters. Cardiff as a city provides both top-quality education and a vibrant student life.’
‘My experience of Cardiff as a cosmopolitan city and the Cardiff MBA is priceless. The interaction with people from diverse cultures, and the knowledge acquired from a wide array of subject areas, has made me better equipped for the challenges of the global economy.’ Chioma Mbanugo
Mohammad Fahad Shahid
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Why Cardiff Business School? Cardiff: The University
www.cardiff.ac.uk/carbs
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Why Cardiff Business School? Cardiff: The University
More on-line at: www.cardiff.ac.uk
Cardiff: The University
Cardiff University is recognised in independent government assessments as one of the UK’s leading teaching and research universities.
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The University has an outstanding location amidst the parks, Portland stone buildings and tree-lined avenues that form the city’s civic centre. Unusually for a civic university, the various academic buildings, libraries, Students’ Union, many of the student residences and the city centre are in short walking distance of each other, saving you time and money. More than £150 million has been invested in the university estate since 2002 to provide new and refurbished facilities of the highest quality. Cardiff is a member of the Russell Group of Britain’s leading research universities. Its research excellence creates a stimulating environment for teaching, ensuring that students are exposed to the very latest thinking and the most modern technology and equipment is available. The Quality Assurance Agency for Higher Education recently awarded the University its highest endorsement possible, following a thorough institutional review of its academic programmes and standards. The student population is drawn from a variety of backgrounds, from Wales, the UK and world-wide. It has some 20,600 undergraduate and 6,000 postgraduate students. There is an almost equal balance between male and female students. International students comprise 17% of the total student population. Government performance indicators show that students are more likely to succeed in their studies than students at other UK universities. Currently, 95% of students successfully complete or transfer, better than many similar universities and better than the UK national average.
01 Cardiff University Main Building.
‘Cardiff has established itself as the front runner in Welsh higher education…it is a match for most rivals in teaching and research and the overall performance is amongst the best in Britain.’
‘Cardiff is surely one of the best deals going: tip-top academically, still not the hardest to get into and a fantastic extra-curricular scene. There’s no excuse to leave with just a degree listed on your CV.’
‘With a strong academic reputation and excellent facilities, Cardiff continues to go from strength to strength.’
The Times Good University Guide
The Virgin Alternative Guide to British Universities
The Guardian University Guide
02 Cardiff’s Civic Centre. 03 The University has a friendly and relaxed atmosphere.
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Why Cardiff Business School? Cardiff : The City
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Why Cardiff Business School? Cardiff : The City
www.cardiff.ac.uk/carbs
Cardiff : The City
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Cardiff is one of Europe’s youngest capital cities. Compact, green, friendly and full of life, it provides a first class environment in which to live and study. As the capital city of Wales, Cardiff has an impressive range of leisure, sporting and cultural amenities, many of which are of an international standard. The city boasts world-class concert venues in Cardiff International Arena and the Wales Millennium Centre, and the Millennium Stadium provides the focus for international sporting events. Culturally, Cardiff is well catered for with the National Museum and Gallery of Wales, several theatres and the historic Cardiff Castle which, set in parkland, occupies the centre of the city. The city has a vibrant shopping centre, numerous cinemas and restaurants and great pubs and music venues. The development of Cardiff Bay is a major attraction and is home to the Welsh Assembly. Cardiff is a compact city with large areas of parkland and good local transport. Unlike many other cities, it offers easy access to the countryside, coast and mountains. The Brecon Beacons National Park is only a 30-minute drive from Cardiff and the Glamorgan Heritage Coast is within easy reach. The city is also easily accessible by road or rail from other parts of Britain. Cardiff combines the practical advantages of a small, friendly, inexpensive city with the cultural and recreational amenities of a successful and modern capital. Such is the quality of the ‘Cardiff experience’ that in a recent survey a large majority of students said they would like to live in the city after graduation. Most of the University’s academic schools are housed in handsome stone buildings set around two parks and within strolling distance of the River Taff, which flows south into Cardiff from the Brecon Beacons National Park. The Business School is a ten minute walk from the city’s main shopping and entertainment area.
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Come and see for yourself… Cardiff benefits from excellent road and rail links with Britain’s other major towns and cities. London, for example, is two hours by train, and the M4 motorway links both the west and south of England, as well as west Wales. Travel to the Midlands and the North is equally convenient. The journey by road from Birmingham, for example, takes only two hours. The main coach and railway stations are both centrally placed and Cardiff also benefits from an international airport.
Aberdeen
M90
Glasgow
Edinburgh
Newcastle Upon Tyne
Belfast M6
A1
Leeds Dublin
Hull
M62
Liverpool
Manchester
Holyhead
M6
A1
Birmingham A470
Swansea
M4
CARDIFF
Cambridge
M42 M1 A1(M)
M50
Bristol
M4 M3
Harwich
London M25
M2
Dover
More online at: www.visitcardiff.com www.cardiff.ac.uk www.cardiff.co.uk
01 The Wales Millennium Centre in Cardiff Bay. 02 Cardiff ’s Civic Centre. 03 The Millennium Stadium in the heart of the city. 04 View of Wales’s beautiful coastline. © Wales Tourist Board
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Plymouth
Southampton
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Don’t just take our word for it…
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‘Cardiff is the epitome of cool, pulsing with a creative energy and relaxed atmosphere that complements its youthful heritage.’
‘Cardiff is popular with students offering all the attractions of a large conurbation without such high prices as students experience elsewhere.’
‘Cardiff is the up-and-coming cosmopolitan British city, a place jam-packed per square yard with some of the best drinking, dancing and shopping outside London.’
The Lonely Planet
The Times Good University Guide
Virgin Alternative Guide to British Universities
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Why Cardiff Business School? Your Environment
www.cardiff.ac.uk/carbs
Your Environment We will provide you with the facilities that you need to excel in your studies and the skills that you need to get the most from your learning environment.
The largest academic school of Cardiff University, the Business School caters for 2,600 students within outstanding on-site facilities. In the 2007 National Student Survey conducted by the UK government, students rated the facilities at the School as excellent. The School is accommodated in the Aberconway Building, a modern, purpose-built development located just a short walk from the attractive parks and gardens of the civic centre. Equally close are the social facilities offered by the Students’ Union, the Graduate School and the university’s sports complex and playing fields. Facilities The Business School houses all of the facilities needed to deliver high calibre programmes. The School has invested in a 460 seat lecture theatre and resource centre on the Aberconway site, whilst the Aberconway Building provides seminar rooms and lecture theatres fitted with state of the art IT and Audio Visual facilities. The School’s new Trading Room gives all students the opportunity to develop practical expertise in dealing on the Stock Exchange. Libraries The Business School library is located onsite in the Aberconway Building, ensuring that students are close to the resources they need. The School invests heavily in library provision, investing £300,000 in 2007 to facilitate a full refurbishment of its resources. The School’s library holds multiple copies of key texts and over 60,000 books. It subscribes to over 1800 national and international journals and newspapers providing the most recent updates in business thinking. As a business school student you will be able to borrow books from the Aberconway library and seventeen other libraries throughout the University. The library service is fully computerised and it is possible to locate books, check availabilities, place reservations and view lists of items which you have borrowed from anywhere on the University campus.
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Online A wide range of electronic information is available from the library of Cardiff Business School, including business information, census records, scientific data and the full text of newspapers and other publications. The online study resource Blackboard is becoming increasingly important to our students. Password protected access gives students access to lecture notes, reading lists, discussion boards, supporting study materials and an increasing number of lecture recordings. Computing Adjacent to the Business School is a resource centre housing 260 networked computers, with computer teaching laboratories provided for on-line teaching and lectures. Students at the School have free access to over 500 computers at any time. Your user name and password will allow you to log in to University facilities which include a large number of software packages, including the latest spreadsheets and statistical packages. Databases, word processing and graphics packages are made available to enable you to produce reports and dissertations to a professional standard. Help, advice and training are available for students from the University’s Computing Centre and a number of locations offer 24 hour computer access. Postgraduates can also access the IT facilities of the Graduate Centre. Staff/Student Panels To ensure that the opinions of students are heard the business school has a number of staff/student panels, consisting of teaching faculty and elected student members who meet to discuss academic issues. Any issues that you feel need attention can be highlighted to your student representative who will raise the query with the panel. This feedback means that each programme is constantly reviewed to ensure it provides the best programme of study available for students.
0 01 The Business School has over 500 networked computers. 02 Gym facilties at the University. 03 Students locate and reserve books across the campus using the electronic library services.
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Why Cardiff Business School? The Graduate Centre
The Graduate Centre
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Accommodation
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Why Cardiff Business School? Accommodation
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Cardiff is one of the few universities in the UK to have a dedicated facility for postgraduate students.
Cardiff University attaches considerable importance to providing good quality accommodation for its students.
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The Graduate Centre provides students with the space and resources to work, discuss, debate and socialise in purpose-built surroundings. It is also the hub for the postgraduate student events programme and is home to the Graduate Schools, which encourage students from complementary academic schools to connect with each other on social and academic terms. The Centre has a dedicated IT room featuring the latest resources. A coffee lounge provides brochures and information about exploring the local area and provides free access to the internet through designated work stations. There is also a reading room, a Café Bar and two conference rooms which are available free of charge to postgraduate students for seminars, group work or discussions.
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‘Postgraduate Plus’ Two halls of residence offer “Postgraduate Plus” options which comprise flats exclusively reserved for postgraduate students. These come equipped with bedding, crockery and kitchen utensils, a television and a computer network connection point. Accommodation for Couples A small number of family flats are available for first year students. You should not bring your family to Cardiff until suitable accommodation has been secured. The Residences Office is able to provide regularly updated lists of flats and houses available in the private sector. Applying for Accommodation If you are a single EU or international student, once you have been offered a place to study at Cardiff University you will automatically be sent a Residences Guide and will able to apply online for accommodation. Further information on University-owned accommodation and the application process is available at www.cardiff.ac.uk/resid Private Accommodation (UK students only) In addition to allocating University-owned student accommodation, the Residences Office also offers help to students seeking privately owned accommodation and maintains a regularly updated list of lodgings, bedsits, flats and houses which are available for rent. Advice on tenancy agreements and other aspects of living in private sector accommodation is available via the Advice Centre in the Students’ Union. The Postgraduate Recruitment Office and Graduate Centre also run a House Hunting event in August each year to assist all new postgraduate students who are looking for single or shared rented accommodation in Cardiff. For further information, please see www.cardiff.ac.uk/postgraduate. If you are looking for private accommodation, you are strongly advised to visit Cardiff before the start of session.
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For more information on the Graduate Centre, please visit www.cardiff.ac.uk/gradc
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Graduate Events Throughout the year staff in the Graduate Centre also organise a variety of social and academic related events for graduate students. These include an induction programme to help new students find their way around the campus and city, and workshops on topics such as time and stress management, presentation skills and career development. Social events range from discos to day trips, many of which are planned by postgraduates themselves. The Graduate Centre is situated within Cardiff University Students’ Union Building, one of the biggest and best Students’ Unions in Britain, with an outstanding entertainment programme and range of facilities. The building is home to the Union bookshop, several food outlets, nightclub and bar, shops, a games room with video arcade, full size snooker tables, pool tables and satellite TV.
In recent years, the University has invested over £40 million in student accommodation and, as a result, is able to offer some of the highest quality accommodation in the British university system. Approximately 75% of our 4,700 study/bedrooms now offer students en-suite shower/toilet facilities and all have high speed internet connections. The accommodation is distributed between a range of modern and traditional halls, flats and houses. All overseas postgraduates, including those from the EU, are guaranteed a single occupancy place in University residences. Only after demand from this category has been filled can UK postgraduates be considered; UK students are therefore advised to seek private sector accommodation. There are twelve halls of residence which are open to postgraduate students. These include a fully-catered hall of residence, Aberdare Hall, which provides breakfast and evening meals Monday to Friday. Some halls provide an evening meal option during weekdays. The self-catering halls provide the facilities necessary for you to prepare your own meals according to your own timetable, tastes and budget.
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Cardiff Business School University Buildings Accommodation Cardiff Central
01 The Graduate Centre Café Bar is open every weekday between 11am and 11pm. 02 There are university halls of residence very close to the Business School. 03 A typical single-study bedroom in university accommodation.
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Why Cardiff Business School? International Appeal
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Why Cardiff Business School? International Appeal
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International Appeal
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Cardiff Business School prides itself in being global in its outlook. Our faculty hail from 28 countries and often have experience of working within business environments both within and outside the UK. Faculty work with leading academics at the best global business and management schools and travel frequently to extend their knowledge and work collaboratively with other scholars. Our students and alumni hail from 120 countries worldwide, creating a diverse environment where global experience informs programme content. Such a cosmopolitan student community provides excellent opportunities for networking post-graduation. The latter is widely regarded as essential to business success in the global economy. Both the School and the University provide bespoke services for international students both before, during and after their studies are completed at Cardiff Business School. Work in the UK Every international student undertaking a postgraduate qualification within the UK will have the opportunity to work in the UK for 2 years after the completion of their studies. Our International Student Advisors will be available to help with your International Graduate Scheme paperwork. Meet Us Overseas Cardiff Business School has a long tradition of looking further afield to find quality applicants. Our team spends eight months of the year travelling to recruit and interview international students in their home countries. Specialist staff are also on-hand throughout your time here to find solutions to any difficulties you might experience. Services for International Students The University provides all the information and support necessary to help ease the transition to life as a student in Cardiff. Once you are made an offer you will receive advice on immigration, visas, healthcare, climate and living and studying in Cardiff. You’ll be able to contact us for any more advice and support you might need. When you arrive in Cardiff we will provide a week of induction and orientation before enrolment. This includes a coach collection service from Cardiff and Heathrow airports, events and visits to introduce you to the University and the city of Cardiff and a varied programme of social events. Throughout your studies you will be able to access support both from the business school and from the University, from your personal tutor, the Student Support Centre and the Careers Service.
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English Language Programmes The University provides English Language Programmes to full-time international students studying, or intending to study, at Cardiff University. Language and study skills courses are offered throughout the year, for periods from a few weeks to a full year, to improve your level of general and academic English. Our Pre-sessional programme in English for Academic Purposes is particularly popular. These fulltime, intensive summer courses of between 3-12 weeks are designed specifically to prepare students starting degrees at Cardiff who hold a conditional or unconditional offer from the University and all applications are welcomed. Language Support Cardiff Business School also provides subject-specific group and oneto-one English language and study skills support for overseas students from October to June of their year of study. In the autumn semester, group support focuses on enabling you to improve your academic oral and reading skills, as well as your ability to communicate clearly in academic, written English. In the spring semester the support concentrates on enabling you to identify a critical stance. All this work is consolidated and built upon after the Easter recess when group support takes the form of ‘English for dissertation writing’ workshops. One-to-one tutorials, run alongside group workshops, train you to edit your own work, giving you the opportunity to talk through language and study skills issues with an experienced ‘English for academic purposes’ tutor. As well as pre-sessional and in-sessional courses, there are also opportunities for your family and friends to take part in tuition to improve general English language abilities, including preparation for a range of qualifications. The English Language Service is an authorised Cambridge (UCLES) examination centre and Cardiff University is also an official British Council International English Language Testing Service centre, regularly hosting the IELTS exam.
01 International students benefit from excellent teaching and research facilities. 02 Cardiff University has students from more than 100 overseas countries.
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Why Cardiff Business School? Your Future
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Why Cardiff Business School? Your Future
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01 The Trading Room is sponsored by the Welsh Assembly Government.
Your Future
02 Graduation Day at Cardiff.
We recognise that students pursue the MBA to give them the competitive edge in the careers market.
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Our graduates are in high demand and key global companies liaise with us directly to recruit our students.
Improving your Employability The Trading Room The School’s newly-opened Trading Room gives our students the practical experience needed to fully understand the Stock Exchange. Students are also offered the opportunity to gain a professional Thomson Reuters Certification qualification, putting them ahead in the career marketplace. Students test their academic knowledge by simulating a day’s trading, working as buyers, sellers or day traders. The ‘games’ give them an understanding of trading and risk management. The Trading Room is open to all students at Cardiff Business School with trained PhD students on-hand to help student develop their skills. Each Thursday the School hosts a ‘Financial Forum’ with Anthony Davies, Global Business Manager at JP Morgan Chase to discuss the week’s market movements. Corporate Connections The School has a busy programme of guest lectures from the leading decision makers in business and in the public sector. We encourage our students to attend these lectures and to learn from our high profile speakers. The Business Project provides the opportunity to work with companies across South Wales and many of our lectures feature guest speakers and industrial case studies. In addition the School has good relationships with the leading global employers that help our students to find graduate employment once they leave us. We advertise all internship opportunities to our MBA students through Blackboard, our online MBA student resource, and can help you with the application process. Developing Your Skills A number of programmes are available to students to develop their skills and to connect with the business community: Student Enterprise at Cardiff University This free initiative offers skills development, mentoring events, competitions and business support for students and alumni at Cardiff University. It is home to ‘Centerprise’, the Cardiff University Student Business Incubator, which gives you support to grow your business ideas.
Selection of global companies hiring from CBS PriceWaterhouseCoopers Accenture Bank of England Merrill Lynch KPMG
Deloitte & Touche Cap Gemini Ernst & Young Ford Rolls Royce
For more details visit http://www.cardiff.ac.uk/racdv/students/index.html Insight into Management: this full-day course is run with input from leading UK business organisations. You will encounter simulated business problems facing managers every day with industry partners giving feedback on your strengths and weaknesses. Skills for You: A new programme of events, Skills for You provides
you with the opportunity to discover what employers look for in new graduates. Presentations take place throughout the day on interview techniques and assessments. Skills for You gives students access to a number of blue-chip, global companies to discover the job opportunities open to them in the future.
Finding your Career On-site Careers Advisor: our specialist, on-site Careers Advisor is available within the School specifically to help with business school students applications and job-hunting. Career Countdown: drop-in sessions at the beginning of your programme designed to help you form your business ambitions. Careers Fairs: A full programme of events which includes: Ideas for Careers: information fair featuring over 50 companies Finance 4 All: a 2 day career fair featuring employer presentations Graduate Recruitment Fair Careers Library: an information service with all the information you need about employers, vacancies and opportunities Careers Service Vacancy Bulletin: over 1250 employers regularly advertise using the vacancy bulletin, available online. The New Grad Programme Prepare for interview with the New Grad programme, giving you the skills you need to impress employers. Sessions include: - CV writing sessions - Interview skills sessions - Online psychometric testing New Grad fortnight runs every June to give a boost to decision making, information gathering and job hunting.
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Why Cardiff Business School? Faculty
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CBS Knowledge
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Applications
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Entry Criteria
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Cardiff Business School attracts a faculty of international repute, whose research informs their teaching on the MBA. In addition to our faculty, who have a wide range of research interests and practical experience, the MBA is also taught by external experts with specialist skills to offer. A large number of our faculty teach on the MBA programme, a few of whom are profiled below. Professor Emmanuel Ogbonna, MBA Academic Director Professor of Management and Organisational Behaviour with research interests in organisation culture, strategic management and human resource management. Lisa L’Homme, MBA Programme Manager Lisa is the newest member of the MBA team, responsible for the everyday running of the MBA programme at the Business School. Lisa’s duties include liaising with industry partners on placement and internship opportunities for MBA students. Professor Rick Delbridge Professor of Organizational Analysis, a Senior Fellow of the Advanced Institute of Management and a Fellow of the Sunningdale Institute. His research interests include the management of innovation in motorsport and superyachts. Dr Jill Solomon Senior Lecturer with lecturing specialisms in international finance, financial management and corporate governance. Her research interests lie in analysing corporate governance reform on a number of levels. Professor Robert Morgan Julian Hodge Professor of Marketing and Strategy, with research interests in: market-based learning; innovation, strategy and performance; corporate entrepreneurship; and strategic alliance management
Professor Jason Xiao Professor of Accounting and Finance, he has research interests in the impact of IT on accounting, financial reporting on the internet and accounting in China. Dr Stephen Disney Senior Lecturer in Logistics and Operations Management. He has research interests in supply chain dynamics, the bullwhip problem and innovative supply chain structures. Professor Mike Reed Professor of Organisational Analysis, he has research interests in critical realism, discourse analysis, ‘new’ forms of organisation, organisational control and sociology of ‘expert work’ and public sector organisations. Professor James Foreman-Peck Professor of Economics, recent projects and publications include economic history of entrepreneurship, of monetary union, of human capital and of the world economy in the Great Depression; Public sector efficiency including evaluation methods and procurement routes. Dr Joe O’ Mahoney Lecturer in Organisational Studies, Joe currently holds an Advanced Institute of Management scholarship, researching the management consultancy industry. Joe has previous experience of working in the management consultancy industry, specialising in change management. Dr. Paul Nieuwenhuis Lecturer in Logistics and Operations Management, his research interests lie in the car and truck industry and in sustainability. Professor Mohamed Naim Professor in Logistics and Operations Management at Cardiff Business School. He is a Director of the Logistics Systems Dynamics Group and the EPSRC funded Cardiff University Innovative Manufacturing Research Centre (IMRC). His research at present specialises in Sustainable Logistics.
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Applications are considered from graduates of approved universities with a minimum of a second class honour degree in any discipline. In addition, non-graduates with approved professional qualifications or work experience will be considered. Cardiff Business School believes that all participants, regardless of work experience, would benefit from the knowledge gained by undertaking the MBA. Therefore, whilst the majority of our MBA students join us with some prior work experience, this is not compulsory for study on the MBA programme. The School undertakes in its selection process to consider each application based on its individual merits. English Language Requirements For applicants who are not native speakers or have not had a substantial part of their education taught in the English language, evidence of ability in the English language is required. TOEFL score: 570/230 electronic /90 in the iBT IELTS: grade 6.5 GMAT is not usually required, but candidates who have taken it should submit their scores as this might benefit their application. Applying You are encouraged to apply early to the MBA, particularly if you hope to secure funding to support your studies. Applications are not normally considered after 31st July of the year of entry.
Completed application forms should be sent to: Postgraduate Admissions The Registry Cardiff University 30-36 Newport Road PO Box 927 Cardiff CF24 0DE UK Need help with your application form? Contact us: Email:
[email protected] Tel: +44 (0)29 2087 9999 It is perfectly acceptable to submit a CV along with the application form to provide fuller information. Copies of degree certificates, transcripts and other supporting documents should be enclosed with the application. We make offers based upon previous academic performance, work experience and indication of the student’s motivation for the programme – you should bear these criteria in mind when completing the application form to ensure you provide all the relevant information.
Applications can be made online by visiting: http://www.cardiff.ac.uk/for/prospective/pg/apply/index.html
The Decision Process Applications are dealt with rapidly after receipt, providing that references are also received. You should only contact the School if there is a significant delay after submission of the appropriate documents. Applicants who have applied online are able to track their applications electronically.
We strongly recommend that you apply online if possible, which gives you the opportunity to track the progress of your application. However, it is possible to apply by post. To apply by post, please visit: http://www.cardiff.ac.uk/for/prospective/pg/apply/index.html
Joining Instructions Joining instructions will be sent out as soon as possible to those students who have been accepted and who have met all the conditions stipulated in their official order submission.
and download the application forms or request these by post.
01 01 A lecture in the Julian Hodge Lecture Theatre. 02 The Glamorgan Building.
01 The Julian Hodge Building.
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www.cardiff.ac.uk/carbs
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Cardiff Business School Aberconway Building Colum Drive Cardiff CF10 3EU Web: www.cardiff.ac.uk/carbs Postgraduate Enquiries (Cardiff Business School) Tel: +44 (0)29 2087 6029 Fax: +44 (0)29 2087 4301 Email:
[email protected]
01 02 Main Building.
This document can also be made available in large print (text), braille and on audio tape/CD. To request an alternative format, please contact Laura Roberts: Tel: 029 2087 4839 Email:
[email protected]
Cardiff Business School Cardiff University Aberconway Building Colum Drive Cardiff CF10 3EU UK Tel: +44 (0)29 2087 6953 Fax: +44 (0)29 2087 5666 Email:
[email protected] www.cardiff.ac.uk/carbs
Terms and Conditions Every effort has been made to ensure that the information contained within this brochure is correct at the time of going to press in August 2009. However, the University does not accept any liability for any errors that it may contain, or for any subsequent changes to the University or Government policy that may affect the information given. Cardiff University expressly excludes any representations or warranties (whether expressed or implied) and all liability including direct, indirect, special, incidental or consequential damages arising out of the use of the information on these pages, to the fullest extent possible under law. The pulp used in the production of this paper is obtained from sustainably managed Scandinavian tree farms and utilizes an elementary chlorine-free bleaching process.