After completing the Oxford Executive Leadership Programme, I found myself at a crossroads, asking, ‘What’s next?’ The answer came in the form of the Oxford Executive Diploma in Financial Strategy at Saïd Business School. This choice was driven by my desire to fully immerse myself in the Oxford experience without committing to a longer program. Additionally, the diploma serves as a potential pathway to an Executive MBA in the future.
The intersection of discipline and strategy
Twelve years ago, I married my personal trainer, and since then, sports psychology and discipline have become second nature to me. Just as you wouldn’t show up to a race without proper training, I approached this academic challenge with the same level of preparation. As an avid triathlete with a passion for swimming, I’ve learned to embrace the parallels between sports and study.
Studying strategy literature has been akin to training in the pool - each stroke, or in this case, each page, brings you closer to mastering the discipline. I was fascinated to learn that strategy is an ancient practice, as Professor Timothy Galpin highlighted. Whether you realize it or not, you’re already a strategist. This idea captivated me, and the first module left a deep impression as we explored how organizations can be disrupted and ultimately destroyed if they fail to identify the right strategy aligned with current trends.
Lessons from Oxford’s best
The influence of exceptional professors cannot be overstated. Professor Aoife Brophy’s brilliance and presence in a male-dominated field made me feel proud and empowered as a woman. Her insights on mitigating the risk of disruption were invaluable. Through Professor Rafael Ramirez, I was introduced to Oxford Scenario Planning and strategic reframing - tools that help firms build plausible scenarios to tailor their strategies. We delved into biases, understanding that they are intrinsic to our human condition, and discussed ways to acknowledge and mitigate them.
Our first submission required us to apply these learnings to our organizations. Using the frameworks we studied to critically identify areas for improvement was as rewarding as crossing the finish line in a race. Just as I can cycle for hours, getting lost in the rhythm, I found myself equally immersed in reading case studies of companies like Amazon, Netflix and Airbnb - along with those that didn’t survive, like BlackBerry, Nokia and Kodak. Identifying what went wrong and imagining what could have been done differently was an intellectually stimulating process.
The financial strategy challenge
Initially, I had applied to the Executive Diploma in Global Business, but at the last minute, I switched to the Diploma in Financial Strategy - a decision I don’t regret. However, from the five available programs, Financial Strategy stood out for its added level of complexity. It is the only program that includes a two-hour, in-person quantitative examination, where we donned full academic dress, equipped with a calculator and a formula sheet. It was challenging, but in hindsight, I enjoyed it, much like the pre-race nerves that enhance the thrill of competition.
For me, running is the most difficult part of a triathlon. In this program, the equivalent was the mathematics, especially algebraic manipulation. After avoiding math for over 35 years, overcoming the mental barrier of ‘I’m not good at math’ to ‘Yes, I can, and yes, I will’ was a monumental challenge. The hours I dedicated to revision were unprecedented, but study groups were key. Just as in a triathlon, where I’m strong in swimming and cycling but struggle in running, I had to work harder in math than others. But that’s okay - we’re all on our own journey.
Applying financial strategy to life
During the second module, we explored concepts like the Time Value of Money (TVM), how to calculate annuities and perpetuities, bond pricing and a company’s Weighted Average Cost of Capital (WACC). We had a case study where we calculated Net Present Value (NPV), measured risk, expected returns, portfolio variances and learned how to diversify, including options and futures - all aimed at reducing risk and making the right investment decisions. These concepts are not just applicable in a corporate context but in life as well.
One of the most memorable experiences was presenting a compelling argument to our peers to invest in our projects. It was genuinely fun, and surprisingly, the subject I had dreaded the most turned out to be the most interesting. This is a testament to the impact a great professor can have. In my opinion, an outstanding professor is someone who can simplify the most difficult subjects, understands their audience, and recognizes the challenges of such academic programs. Professor Gregory Besharov did exactly that, making our journey easier and enjoyable.
The journey continues
Although my journey is far from over, I’m certain that the lessons from this experience will accompany me for years to come - just like how pre-race nerves enhance the racing experience. This diploma program has been a triathlon of the mind - demanding, exhausting, but ultimately exhilarating. If you’re considering further education, especially in an executive program, I can assure you that it’s worth every mile.
