I’ve recently submitted my second post-assignment for my MBA in International Healthcare Management at Frankfurt School of Finance & Management. While eagerly anticipating the module review, I’m reflecting on my journey and am astonished at the breadth of knowledge I gained in this short time. The programme has not just honed my professional skills but also broadened my perspective, imparting the ability to comprehend and resolve intricate challenges within the healthcare industry.
The finance module was particularly fascinating as it emphasised the importance of compound interest, investment decisions, control and M&A. I discovered how crucial it is to start investing in the future as soon as possible and how to assess the returns and risks of different projects. I also learned how to devise and implement effective strategies to accomplish successful mergers and acquisitions.
One of the most interesting topics we covered was the discounted cash flow (DCF) method, which is used to estimate the value of an investment based on its future cash flows. I learned how to apply the net present value (NPV) and internal rate of return (IRR) criteria to evaluate the profitability of a project. Additionally, I learned how to use the weighted average cost of capital (WACC) to determine the appropriate discount rate for a project. These concepts helped me understand how to make sound financial decisions and optimise the value of a firm.
Another highlight of this module was the opportunity to meet controllers (senior managers) from the German company Merck. They emphasised how important it is to plan and maintain a good overview. For example, they shared a merger and acquisition project with over 2000 small projects, highlighting the importance of having a good team and tools to keep track. They also shared some challenges and best practices for controlling, such as budgeting, forecasting, reporting and performance measurement. I was impressed by how they managed to align the financial goals and operations of the company with its strategic vision and mission.
One aspect that makes my MBA studies especially interesting to me is the focus on International Healthcare. The pharmaceutical industry is very diverse and dynamic, offering many opportunities for innovation and improvement. As an engineer for medical and pharmaceutical devices, I learned a lot about the needs and expectations of the customers I want to serve as a scientist. I am passionate about developing solutions that can enhance the quality of life and health of people around the world.
I am eager to see what other insights the MBA studies will reveal. I aspire to increase my impact on the economy and make a positive difference in the world. This is why I am driven to do my best every day and keep growing as a person and a professional. I am very excited about the next module in Bangalore, India, focusing on finding value through marketing strategies.
As an engineer, I have very little contact with marketing. The pre-assignment has already taught me that marketing is more than advertisement. It is about understanding the needs and wants of the customers, creating value propositions and delivering superior customer experiences. I look forward to learning more about the marketing mix, segmentation, targeting, positioning, branding and digital marketing. I am also excited about meeting some friends in India and exploring the culture and cuisine of this amazing country.
If you’re interested in keeping up with my MBA journey, feel free to connect with me on LinkedIn. I appreciate your comments and suggestions as I navigate through this academic adventure!