Reykjavik University



Challenge yourself,grow, and boostyour careerChange is moving ever faster. The last decade has seencountless new opportunities and challenges in the businessworld. To name a few: smart technologies, expandedconnectivity, and increasing lifespan are changing how wethink about work and how we need to approach it. In addition,companies are becoming more global and the work force isbecoming increasingly diverse. More than ever before, businessleaders must be critical thinkers, adaptable problem solvers witha high degree of interpersonal and cultural intelligence, and bewilling to accept and lead change.To effectively take on the challenges of the world of today andto prepare for the fast changing world of tomorrow, the RUpart-time executive MBA programme offers a four semester longjourney aimed at developing leaders who will have a positiveinfluence on their chosen area of focus, business and society.The MBA journey is a demanding personal and professionalchallenge. During the journey, our students discover their valuesand collective strengths, they learn to “peal the onion” andstrengthen their analytical and critical thinking skills. Throughoutthe programme, our students are given the opportunity to seethe value that diversity, cultural, and interpersonal differencescan bring to an organization and problem solving and that theyare things to be celebrated. They are also leaders who arewilling to make tough decisions, to lead in a responsible manner,and who are ready for growth and open to change.Strong emphasis on responsible leadership & entrepreneurialthinking gives our students a foundation that will beOur mission is todevelop responsibleleaders who will havea positive influenceon business andsocietyindispensable in their future career.We are very proud of our MBA programme at RU, and weencourage you to take a close look at what we are offering.Maybe the MBA programme at RU is the logical next step tochallenge yourself, grow and boost your career.Dr. Auður Arna Arnardóttir,MBA Director

Our credentialsThe Association of MBAs (AMBA) is an impartial authority onpostgraduate management education and is committed toraising its profile and quality standards internationally for thebenefit of business schools, students and alumni and employers.The RU MBA was the first Icelandic University to be awardedthe accreditation in 2011 for five years and was re-accredited forfive years in 2016, thereby joining top ranked business schoolssuch as the Said Business School at Oxford University, LondonBusiness School, IESE and ESADE in Spain, INSEAD and HECin France, CBS in Denmark, and IMD in Switzerland. The AMBA“The MBA programme at RU has exceeded all of my expecta-accreditation is acknowledged worldwide and is currentlytions. The quality of the teaching is exceptional and the activeaccrediting programmes from the top 2% of business schools inparticipation of fellow students in class discussions has been in-over 70 countries.valuable for gaining a better understanding of various subjects.Undergraduate programmes at RU s School of Business haveThe group has a great dynamic and although the programme isbeen awarded the EPAS accreditation by EFMD, the Europeandemanding, my time in the MBA has been exciting and interest-Foundation for Management I have already gained knowledge and skills as a leader andThe School has been a member of the United Nations Principlesmanager and look forward to tackling whatever comes next.”of Responsible Management Education since 2012.Jón Magnús KristjánssonMedical DirectorDepartment of Emergency MedicineLandspitali University HospitalMBA 202010reasons for choosingMBA at RU1/ Earn an internationally accredited degree2/The MBA at RU is AMBA accredited; content andteaching quality, as well as processes, are monitoredand continually strengthened.Work with outstanding professors from allover the worldLearn from a diverse team of teachers with varied teachingmethods who are all recognized experts in their fields.3/Grow and boost your career4/Challenge yourself & make a changeGain a valuable perspective of yourself and your careerthrough various courses and the personal & professionaldevelopment programme.Be part of a class made up of a diverse group of peoplewho are willing to challenge themselves and make apositive change.5/ See past your own perspective6/Implement your ideas7/Lead the responsible wayGain the skills and understanding that will help you becomean ethical and responsible leader who gets results.8/Learn solid business9/Tap into a strong network10/Empower your thinking, your analytical and decision makingskills, and challenge the status quo.Develop your entrepreneurial and innovative thinking inorder to create, strengthen, and transform.Reinforce your business acumen and develop anoutstanding portfolio with a unique set of competencies inboth traditional and more visionary courses.Belong to a strong cohort and tap into the extensiveRUMBA Alumni in addition to the international AMBAstudent network.Create value for your company or employerCreate value for your employer or your company byapplying new knowledge and skills that you acquire fromday one.

StructureAn intensivetwo-yearexecutiveprogramme forprofessionals.90 ECTS credits in total22.5 ECTS credits per semester1st semester2nd semesterTWO MODULE COURSESTWO MODULE COURSES Negotiations Operation Management Organizational Behavior Corporate Finance Data Analytics for Management Managerial Accounting Managerial Economics Marketing ManagementSHORTER COURSE Personal & ProfessionalDevelopmentTWO MODULE COURSESTWO MODULE COURSES Competitive Strategy Responsible leadership Leadership and Change Competing in digital age Human Resource Management Entrepreneurship* Strategic Decision MakingSHORTER COURSE Personal & ProfessionalDevelopment Personal & ProfessionalDevelopment* Taught one weekend at RU and the other weekend at a university abroad.Exchange studiesto apply for an exchange semesterabroad during the third semester.„My exchange study semester inTYPICAL MODULEVictoria was fantastic. I had theThursday 13-17Management which was extremelySaturday 9-17 Business LawSTUDY TRIPMBA students have the opportunityFriday 9-17SHORTER COURSESFINAL PROJECTAugust to early December.middle of January to early May.Development4th semestermodules every other weekend.The Spring semester is from Personal & Professional3rd semesterClasses take place in the form ofThe Autumn semester is from lateSHORTER COURSEopportunity to specialize in Servicevaluable and very pertinent for mywork in the health care system.“Arna GuðmundsdóttirInternist and EndocrinologistDepartment of Endocrinology andMetabolic MedicineLandspitali University HospitalMBA 2018

Personal & professionaldevelopmentPresentationskillsAn integral part of the RU MBA is personal and professional development.The objective of the course is to equip students with the necessary toolkit andcareer strategy to succeed in an increasingly competitive and complex job– Verbalpresentation– PR; Crisismanagementmarket. MBA students go through 5 milestones were they reflect on theirpersonal growth, life and career paths. Personal and professionaldevelopment training is given through short workshops andassignments stretched out over the four semesters.CareertargetingDevelopingothersSelf awareness& developmentGet inspired– Alumni panels– Leading onExercisesFeedbackGoal settingAction planFinal project– Personal branding– Leveraging yourstrengths– Networking– CV– Recruitmentagencies– Interviewing–––––CoachingGiving feedbackReceiving feedbackTeam leadershipCommunicationskills– Managing conflictMBA students conduct a final project duringtheir last two semesters. It provides studentswith an opportunity to incorporate learningfrom their whole MBA study, meaning anintegration of different functional areas ofan operation. Hence, the final project is conducted in co operation with a company. Mostprojects are of a strategic nature, dealing withlong term high-level issues, such as enteringnew markets. Furthermore, students have theopportunity to identify and choose relevanttheories and models applicable to the issue,to describe the structure of a company andto analyze problems identified. Conclusionsare developed and presented before a panelof industry experts in cooperation with thecompany students collaborated with.

Reykjavik UniversityReykjavik, IcelandBI - Norwegian Business SchoolOlso, NorwayRotman School of ManagementToronto, CanadaCBS Copenhagen Business School,Copenhagen, DenmarkUniversity of TorontoToronto, CanadaTeachingIdaho State UniversityPocatello, USIESE Business SchoolNew York, USThe University of VirginiaVirginia, USBabson CollegeBoston, USLondon Business SchoolLondon, UKIESE Business SchoolBarcelona, SpainESE Business SchoolSantiago, ChileOur faculty, the majority of whom are from leadingEuropean and American business schools along withlocal professors and experts in their respective field,have extensive professional and academic experience.Students have the opportunity to work closely with theirprofessors during their two years of study.Interactive teaching methodsThe teaching approach in the MBA programme is diverse and interactive. Ourprofessors engage MBA students in lively discussions using the case study method,simulations, firm or situational analysis, and consultancy projects. Students solvea multitude of various business cases, where real-life business scenarios arepresented and students simultaneously gain knowledge and build various analytical,communication, decision-making and leadership skills. Through interactive teachingmethods, our student further learn to persuade and inspire others, reconcilediffering viewpoints, prioritize objectives and capitalize on opportunities in aresponsible and ethical manner.„Entrepreneurship is a hands-on course. It is taught in two sessions –one in Reykjavik and one at Babson University in Boston, where weexperience great lectures and company visits. At RU, in addition to literature and lectures, the students collaborate with entrepreneurs who areguest lecturers, thereby putting into use their knowledge. That is a greatlearning experience, to work with real people solving real problems.“Magnús Orri SchramLecturerCourse: Entrepreneurship

MBAAdvisoryBoardThe goal of the MBA Advisory Board is to provide insights andfeedback on the MBA core curriculum and concentrations toensure that the programme is future-focused, market-driven, andaligned with the needs of businesses.The board is comprised of five experienced individuals, two of whom“I think the bestfeature of theare MBA alumni.RU MBA program is– Eggert Benedikt Guðmundsson, CEO eTacticathe impressive experience– Hrund Rudolfsdóttir, CEO Veritasand diversity of backgrounds of thestudents in the program. Second placewould be the collegiality and friendlinessof the students. This results in a wonderful– Liv Bergþórsdóttir, CEO Nova– Katrín Júlíusdóttir, CEO Icelandic Financial Services Association, MBA2016– Ingvar Sverrisson, CEO Aton, MBA2013classroom atmosphere.”Dr. Steven S. ByersProfessor of Finance - Idaho State UniversityCourse: Corporate Finance“Two wordscome tomind whenI think of theenergy in anRU MBA classroom: curious andexperimental. Studentsare open minded and want to explore newideas, concepts and frameworks. They areconstantly asking “how might I adapt that“We tackle different cases and projects where a challenge or situation is analysedto my workplace?” Discussing and sharingand are given the tools needed to work through them or solve them. In my currentinsights is highly motivating for everyone.”position I am accustomed to team work but one of the many things the MBA hasDr. Lori Riznektaught me is how much of an asset different backgrounds and experiences areAssociate Professor in Human ResourceManagement – University of TorontoCourse: Human Resource Managementwhen you are dealing with challenges and coming up with new solutions. Thequality of the teachers has proven to be exceptional and from day one I have beengiven instruments to use in my job to make me a better leader.”Elísabet HalldórsdóttirDirector of Information TechnologyIcelandairMBA 2019

StudentsWhen students start their MBA journey they have already attended an intensivetwo-day seminar that emphasises team building and leadership. For the next twoyears, they work on individual and group projects, have discussions in class, and gothrough case studies, exams and team evaluations. As the journey comes to an end,they have made friends for life and assembled an invaluable network of supporters.Prize-winningnegotiation skillsThe Negotiation Challenge (TNC) is aninternational competition where studentsfrom leading universities around theworld compare their negotiation skills andcompete in realistic negotiation situationsin front of judges. For several years in arow the RU MBA team has been selectedto participate in the finals, and even tookhome the first prize in 2013.Statistics taken from the MBA exit survey, 2018 cohort.

Student ofthe yearawardEach year, students select an MBAstudent in their class that contributesthe most to their personal growthand/or learning.“The program as a whole was an incredibly funjourney. It features excellent teachers fromsome of the best schools in the world andit continuously put one to the test,strengthening one’s weaknesses whilesharing the strengths.Erlendur SvavarssonSVP Sales & Marketing,Loftleiðir IcelandicMBA student of the year 2018“The MBA program deepened my knowledge and understanding ofbusiness and shaped my professional mindsetin new and provoking ways. Personally,I became more self-confident anddeveloped the courage to thinkbigger. What’s more, I gained avaluable business network andmade some friends for life.”Alda SigurðardóttirExecutive and leadership coachand owner of VendumMBA student of the year 2016“The MBA programme provides you with best practiceleadership skills for today’s business world,with an ethical focus. You learn both fromteachers with global experience andstudents that are accomplished inthe business world. The focus is oncasework and open class discussionswhich enable critical thinking andforce you out of the comfort zone.”Gunnar Steinn MagnússonCEO of ExpectusMBA student of the year 2017%What doour studentsthink?The MBA programmehas strengthened my:– critical thinking skills– analytical skills– interpersonal skills% agree97.494.897.4– innovation/entrepreneurialknowledge and skills97.4– responsible leadershipknowledge and skills82.1– self-esteem– network89.794.8The MBA programme has:– increased my overallbusiness knowledge97.5– given me broader global/international view92.4I think the MBA degreefrom RU will strengthenme in the work market94.9I would recommend theMBA programme to others97.5Overall, I am satisfied withthe MBA programme100Statistics taken from the MBA exit survey, 2018 cohort.

Home countries of MBA United TSTUDENTSNew ZealandAVERAGEAGE77 40EDUCATIONAL BACKGROUND:Business and EconomicsEngineering and Technical SciencesSocial SciencesHumanitiesNatural Sciences11%14%10%42%23%JapanChinaFemale 45%Male 55%PROFESSIONAL BACKGROUND:Corporate 35%Small and medium enterprize (SMEs)Government15 %Company owners11%NGOsOther32%3%4%Examples of companies that our students are working inActavis // Advel Attorneys at law // Air Atlanta Icelandic // Akraborg // Árborg // Arion bank // Asgard-Beyornd // Askja // Aztiq // Bernhard //Birta pension fund // Blue Car rental // Brammer // Buska // Caoz // Cato Attorneys // Coripharma // Don Cano sportswear // Effect // FESTA //Government // Gray line Iceland // Grillhusid // Ice Rental Car // Iceland securitas // Icelandair // Icelandic Nurse Association // Icemar // Icos //ISAVIA // Islandsbanki // Kaupthing // // Landsbankinn // Landspitali - The National University Hospital of Iceland // Lawyers Sundagardar// LTC // Marel // Medis // Medor // Men & Mice // Mentor // Meniga // Ministry of Welfare // Mosfellsbær Municipality // Nielsdætur // Pentair //Reykjavik Angling club // Reykjavik Energy // Reykjavik Letterpress // Sensa // Siminn Telecom // South Central // Stalsmidjan // Strongwear // Tera// Tern Systems // The Financial Supervisory Authority // The National Power Company of Iceland // Tivoli // Usam Gard Nimes // VÍS

AlumniWhen you join the MBA programme you becomepart of a diverse community of high achieversconnected by a shared experience. It is a valuableresource that creates connections and businessopportunities throughout your career.RUMBAFrom the moment you join the MBA programme at RU you become part of an alumninetwork called RUMBA. You will continue to benefit from being an MBA alumnuslong after you graduate with continued education and various social activities.EmblurAll our female students are invited to join EMBLUR when they enter the programme.The objective of EMBLUR is to empower women and strengthen their networkingand business relations.“The experience has definitely given me adifferent perspective on things and reallyallowed me to challenge conventionalthinking. Things really change aftercompleting an MBA. You obtain insightsand abilities that put your thinking acouple of years ahead of others. Apartfrom the valuable education, I learned thepower of networking and the importanceof teamwork. This, added to mybackground in finance and the financialmarkets, has without question improvedmy leadership qualities.”Per Matts HenjeFund Manager,Stefnir Asset ManagementMBA 2018

AdmissionACCORDING TO THEPrerequisites– Undergraduate degree (BA, BS) or equivalent professional qualifications.– Good command of the English language.– Work experience (minimum 3-5 years).Application and supporting materialAll applicants must submit an electronic application at and attachthe required accompanying documents:– Curriculum Vitae (CV).– Official transcripts of diplomas.– Personal statement answering the question: Why am I pursuing an MBA degreeand what are my short term and long-term goals? (max length 1000 words).2018 & 2019,REYKJAVIK UNIVERSITYRANKS:89thamong young universities– Names and contact information of 2-3 references (listed in CV).– Letter of recommendation from one individualwho can assess the applicant’s abilities toparticipate successfully in the MBA programme.The letter can be in either Icelandic or English.Letter of recommendation shall be sent eitherthrough email to or by mail toRU c/o MBA, Menntavegur 1, 101 Reykjavík.Please note that all letters of recommend ationmust come directly from the person that givesthe y 1st for studentsoutside the EU/EEA.Want to learn more? 354 599 – 350thof the best universitiesin the world3rdin scientific citations14thamong universities withfewer than 5000 students

part-time executive MBA programme offers a four semester long journey aimed at developing leaders who will have a positive influence on their chosen area of focus, business and society. . one in Reykjavik and one at Babson University in Boston, where we experience great lectures and company visits. At RU, in addition to litera- .