ADA/Kellogg Executive Management Program accepting applications for 2010 in Chicago
After the first year of the ADA/Kellogg Executive Management Program, Professor Sri Sridharan, Ph.D., developed a case study called "Midwest Dental Associates Inc."
The case study is designed to illustrate informed decision-making with the goal of helping participants in the program manage their professional and personal finances.
"In the first part, I walk dentists through the process of reading major financial statements and build familiarity with concepts that will help them make decisions about their investments," said Dr. Sridharan, John and Norma Darling Professor of Accounting Information and Management at the Kellogg School of Management.
"The second part of the case involves operating data and cost information. The greatest constraint that dentists have is the number of hours they can put in their practice," said Dr. Sridharan. "They want to make sure they are spending it not only as productively or efficiently as possible but also as effectively as possible."
Using the Midwest Dental Associates case as a guide, his module of the program provides answers to a number of questions.
How do investments in automated systems help dentists shift time from nonvalue-added activities to value-added activities? How does a dentist make the tradeoff between purchasing state of the art equipment outright vs. leasing it? If dentists want to expand the practice to take on associates or partners, how do they structure their compensation and incentives packages? How do they reconfigure the practice for such hiring, depending on the internal configuration of equipment and overhead support services? What kinds of activities would a dentist want to outsource? When dentists buy another practice or sell their practice, how do they value them? How do they manage risks and uncertainty?
"Dentists have always been making these decisions throughout their professional lives," said Dr. Sridharan. "Most times they get it correct. They have the right intuition and a feel for it. What the case study does is to present a very structured approach so they will have greater confidence in the optimality of their decisions."
Dr. Sridharan's case study is one example of how the Kellogg School of Management has tailored the Executive Management Program to dentists’ needs since the program's inception in 2005.
Dentists completing the Executive Management Program represent diverse interests, including those who:
- own a large dental practice;
- own or are seeking to buy a nondental business, such as a franchise;
- serve on a board for a nonprofit or investor-owned corporation;
- provide leadership in the dental insurance field, dental manufacturing or consumer goods, education, government, research or the military;
- are contemplating a career change;
- are seeking quality management education.
A cadre of Kellogg faculty lends its expertise to the program in a curriculum that draws from the core content areas for Kellogg MBA students, including business strategy, organizational leadership, marketing, finance, accounting, economics, quantitative methods and operations. The Executive Management Program is not a practice management course.
Three sessions are held on Kellogg's Chicago campus near ADA Headquarters. Program dates for 2010 are July 8-13; Sept. 10-15; and Nov. 4-9. Participants receive a Kellogg certificate and continuing education credit from the ADA.
Registrations are being accepted for the 2010 Executive Management Program. For more information, go to www.ada.org/3774.aspx.