IMD Case Study
...ILX helps top-five business school deliver high-class MBA training...
"The ILX courses have been excellent for levelling the playing field among participants in terms of finance skills. It allows us to bring everyone up to speed before they even come to IMD. We can begin our programmes on a higher level and make better use of valuable face-to-face time."
"We're also delighted with the level of service we receive from the ILX sales and support teams. Everyone on staff is efficient and friendly, and I am able to assure our participants that ILX will take good care of them,"
- Carlos Cordero, Project Manager Learning Lab, IMD
Overcome the growing need for managers to understand finance
Ensure all delegates attending courses have a consistent level of financial expertise
Devise a method of learning without using valuable classroom time
Provision of ILX e-learning modules covering Financial Fundamentals, Operational Analysis and Strategic Analysis pre-IMD programme
Maximum use is made of the tutor sessions as the financial knowledge pre-course is of a similar standard
IMD delegates able to improve value and learning gained from IMD courses
Financial awareness training delivered effectively, efficiently and consistently
The IMD business school in Switzerland ranks 13 in the world and is one of the top 5 in Europe. With a 50 year history, IMD is widely regarded as a highly prestigious business institution. But back in the mid-1990s IMD found that delegates attending its Executive MBA and open courses often had significantly different levels of financial knowledge. This meant that valuable time early in the course programme was spent ensuring all delegates had the same level of understanding. IMD needed a solution that would enable its delegates to develop a consistent and thorough understanding of financial principles, prior to embarking on its MBA programmes.
One learning methodology that immediately presented an effective and practical solution was e-learning. IMD turned to ILX, one of the leading developers of financial awareness e-learning solutions. Working with IMD to establish the knowledge pre-requisites of the IMD courses, led ILX to propose a suite of 14 e-learning modules covering Financial Fundamentals, Operational Analysis and Strategic Analysis.
As well as the 'Finance for Managers' series, the students have access to 'Value Creation', designed to help business professionals understand the concept of value based management and shareholder value metrics.
These courses are used across a variety of programmes run by IMD such as Programme for Executive Development, Executive MBA, Building on Talent and two in-company programmes run by IMD. Prior to attending these programmes, delegates are now provided with access to the e-learning via the IMD Learning portal, or on CD-Rom.
The courses were introduced at IMD in 1997 for a number of MBA programmes and have proved very successful. Today, as many as 500 students a year benefit from using the ILX e-learning courses.
The courses were chosen over and above other providers in the finance area because the learning method allows delegates to develop a clear understanding of finance and, particularly, how day-to-day decisions influence and impact business performance. This was closely aligned to the rationale of teaching behind the IMD programmes. IMD also found ILX the ideal partner for delivering a solution that best met the business school's needs.
Using the ILX course prior to attending an IMD programme has ensured that maximum use is made of the tutor sessions, enabling delegates to enhance their understanding over and above normal methods of delivery. Another important benefit to delegates and IMD is that all delegates have a consistent level of financial understanding which provides an excellent foundation for the MBA programmes and makes the learning process much simpler.
Working with leadings in business education and training like ILX, IMD will continue to put forward appropriate solutions to enhance the quality of the learning experience for all delegates.
"The ILX courses have been excellent for levelling the playing field among participants in terms of finance skills. It allows us to bring everyone up to speed before they even come to IMD. We can begin our programmes on a higher level and make better use of valuable face-to-face time. We're also delighted with the level of service we receive from the ILX sales and support teams. Everyone on staff is efficient and friendly, and I am able to assure our participants that ILX will take good care of them," says Carlos Cordero, Project Manager Learning Lab, IMD.
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