Innovations in the Development of the Beauty Industry
Students will be given the historical, sociological and socio-economic perspectives of the development of the beauty industry. Particular attention will be given to innovations and innovators that shaped the industry since the industrial age, historical perspective from the ancient cultures, the adaptation of beauty products through different cultures and the development of the major heritage brands in the beauty sector. 3 credits.
Cosmetic Product Innovation
Explores how cosmetics are conceived and manufactured for the marketplace and develops industry-specific vocabulary. Study of natural and synthetic raw materials used in the manufacture of cosmetics included. Marketability evaluation skills covered. 3 credits.
Corporate Finance for Managers
Covers how to recognize, read, analyze and interpret financial statements in an international business context. Includes distribution channel and product category financial planning. Emphasis on financial planning for new-product introductions. Addresses asset management, specifically the management of inventory and accounts receivable and the evaluation of capital expenditures. Includes the impact of information technology on cosmetics and fragrance manufacturers and retailers. Introduces the concept of value creation in conjunction with the merger and acquisition decision-making process. 3 credits.
Fragrance Product Innovation
This course will give the student a broad insight into the fragrance development process and exposure to the key natural and synthetic raw ingredients in the perfumer’s palette. Olfactive sessions will give the student the opportunity to develop his or her “nose” and a basic understanding of how fragrances are constructed. An historic overview of women’s and men’s fragrance evolution will be offered as well as key insights into modern trends, master branding, and a perspective on global fragrance development. The fragrance development process will be broken down to acquaint the student with the important steps in fragrance creation. 3 credits.
Prepares managers to work with market research and analyze consumer behavior as it impacts product development, advertising, and promotion. Covers the ethics of marketing research, the logic of scientific inquiry, the use of secondary information sources and database management, conducting qualitative research, preparing surveys and experiments, sampling techniques, basic data analysis, and preparation of research reports and presentations. 1.5 credits.
Communication and Presentation Skills for Managers
Uses an interactive format to teach effective communication skills for the modern manager; emphasizes both conventional and technologically enhanced preparation and presentation techniques. Communication workshops and weekly presentation-skills practice sessions utilizing video playback and personal coaching included. Use of PowerPoint and teleprompter covered. Written assignments include workbook exercises, reports on relevant experiences, and strategic communication plans. 3 credits.
Managing the Creative Process
Introduces students to the creative development process for cosmetics and fragrance. Emphasis on management and interpersonal skills needed to develop a climate of innovation through creative departments, creative personnel and creative materials. Presentations and lectures cover the design process, the role of branding in design, and the importance of creative processes to corporate innovation. 1.5 credits.
Covers the broad range of distribution channels for beauty products, and how each channel impacts decisions regarding product mix, pricing, packaging, location, point of purchase materials, advertising, promotion, servicing, logistics, and training. New and emerging distribution channels will be studied along with their effect on existing retail and non-retail businesses. 1.5 credits.
International Business Practices
Advanced graduate-level course on global trade and international business, with a special focus on the issues faced by international cosmetics and fragrances companies. A strong emphasis is placed on developing those competencies expected from mid-level and senior managers in global companies: knowledge of major international markets and international management practices, ability to summarize and present the results of business analyses and research, and ability to work productively and creatively as the member of an international team. 1.5 credits.
Graduate Seminar: Advanced Topics in Marketing
Advanced level seminar focusing on critical marketing issues, including positioning, brand image, brand equity, the role of public relations, sales analysis, trend spotting, new market channels, and product launches. Includes guest speakers, industry case studies, and group discussions to elicit critical thinking and strategic planning. Provides a forum for critical analysis of marketing issues and new opportunities in product marketing. Includes oral presentations and team-building exercises in preparation for the capstone project. 3 credits.
Graduate Seminar: Advanced Topics in Leadership
Course focuses on senior-management level strategic leadership and decision making. Reading assignments highlight leadership, management theory, and organizational behavior. Case studies and industry guest lecturers explore actual business responses to strategic issues. Topics include emotional intelligence/leadership personality profiles, situational leadership, influencing skills, cross-cultural leadership, team leadership, change management, mentoring/coaching, negotiation skills and corporate ethics. 3 credits.
Global Cosmetic and Fragrance Markets
Intensive overseas session provides an experiential component to the global issues covered in the curriculum. Students will examine the global implications of current marketing and management issues in the beauty industry and prepare a marketing project that specifically addresses global components of marketing and brand management. 3 credits.
Graduate Seminar: Capstone Projects
Student groups will make final presentations to industry on important strategic business topics facing the beauty industry, chosen each year by the faculty. The student groups will be expected to develop a creative solution that involves critical thinking from the perspective of all functions and disciplines within a corporate organization. Groups will be graded on their ability to analyze an issue from many functional perspectives in a corporate environment, utilize concepts learned in the MPS program, their ability to innovate, and their presentations skills. Industry experts will be invited to sit as panelists for critique and grading of the capstone presentations. 3 credits.
Individual Development Plan
This course serves as a written format of a portfolio of the student’s coursework, professional development and executive mentor experience. The course provides a platform for final written analysis of the professional development growth, personal development, and leadership skill development of the individual student. Through thoughtful self-directed learning, guidance from the Executive Mentor, and training achieved through the graduate coursework, the student will complete a thorough skills analysis, and an Individual Development Plan for training and learning beyond the graduate program, which will serve as the roadmap for transition back to corporate management. 3 credits.