CBEM Program

The CERTIFICATE IN BUSINESS IN EMERGING MARKETS (CBEM) is a program offered to international students interested in learning about the environment for doing business in an emerging country and it is focused in the Latin-American reality. The program will help the students to understand the differences in leadership, styles of managements, business opportunities, financial and risk, and how to develop a marketing project for the Latin American market.

It is designed for master students and/or undergraduate students who have completed the first three years of the Bachelor program and fulfill the requirements.

The CBEM program, taught entirely in English, is a part-time study program. It combines 17 weeks of studies (190 hours which are equivalent to 10 ESAN credits) with company visits.



crash course in spanish for beginners
(1 week – 15 hours)

Foreign Investment in Emerging Economies (*)
(64 hours – 3 ESAN credits)

cross cultural management & leadership in latin america

economic integration

economic and business development in peru

dealing with risk in financial markets in latin america

(16 weeks – 56 hours – 3 ESAN credits)

Project Management Product Launching
(16 weeks – 70 hours - 4 ESAN credits)

(*) This course is organized into 4 modules of 16 hours each one and integrated by a team of faculty experts: 1) Cross Cultural Management & Leadership in Latin America, 2) Economic Integration, 3) Economics Business Development in Peru and 4) Dealing with Risk in Financial Markets in Latin America.

It opens twice a year and students can choose to study from beginning of March to mid-July or from beginning of August to mid-December. Some important dates in the CBEM Program during the semester:

Students who will participate in the CBEM Program must meet the following prerequisites:

Foreign Investment in Emerging Economies

Finance (basic)

To Understand and apply the concepts of simple and complex interest; fixed and variable annuities, debt finance, debt consolidation, internal return rate, and present value.

statistics (basic)

to Identify, measure and graph statistical variables; to analyze and apply central tendency and variable measures, to calculate probabilities of different events, and the variance and expected value of different variables.


Project Evaluation & Formulation

To Analyze and evaluate a business plan according to the market opportunities. At the same time, they should know how to select the efficient strategy to run a project with a backup on economic and financial analysis.

Project Management Product Launching

Segmentation & Positioning

To Understand the concepts of segmentation and market position and process involved. In addition, they should know how to design and explain strategies.

Market Research I

To Describe the importance, the stages and the activities a market research should meet.

To Analyze and explain the development of the market studied in order to elaborate an action plan.


  • Specialization in emerging markets focused in Latin America.
  • To increase employment opportunities through the acquisition of new skills.
  • Designed entirely in English.
  • To allow students to be in contact with Latin America business environment, which improve the vision to better manage the business in the region.
  • A high quality study opportunity.
  • Affordable Cost.


Prof. Mariella Olivos, Ph.D. Candidate - Tilburg University, The Netherlands

The course will provide students with a conceptual and practical knowledge of intercultural management to understand and to analyze the Latin American and Peruvian environment for doing Business and to discover manager’s leadership style in the region.

Traditionally has been seen the Latin American region as an homogeneous one, not just in terms of the Spanish common language but on other common links that typically are sharing, but Recently published papers and researches show how many stereotypes has been dominated the scenario, this issues will be analyzed in this seminar using some of the theoretical frameworks of culture.


  • To comprehend a particular organizational context as it is the Latin American region.
  • To cite a definition of culture and describe its components and complexities.
  • To identify students own cultural profile and to learn a tool for analyze cultural style and differences between countries.
  • To describe interactional behaviors common among cultures in Latin America, in social and professional areas as family roles, gender roles, team work, and hierarchy dimension.


Prof. Elda Cantú, MA in Latin American and Caribbean Studies - New York University, USA

The course will familiarize students with Latin American trade agreements. Participants will apply the main concepts, theories and trends in international political economy to the hemispheric context.


  • Identify the main stages of economic integration using Latin American examples
  • Apply the most important concepts of International Political Economy to the Latin American context.
  • Understand the main challenges to economic integration in the Americas.
  • Acquire a general overview of current political economy in the Americas.
  • Discuss in an informed, articulate and respectful matter the main trends in current Latin American politics.
  • Use critical thinking to report in written from on assigned readings


Prof. Eduardo Mantilla, MsSc in Economics - University of Illinois at Urbana Champaign, USA

The course will provide the knowledge required to analyze the Peruvian economy and its growth during the last 20 years, including also the recent economic policies and the opportunities for investing in private activities.


  • Understand the basis and structure that sustained the economic growth during the last 20 years in Peru.
  • Identify the investment opportunities on different economic sectors, such as fishery, textile, tourism, energy, mining, construction.
  • Analyze the impact of free-trade agreements on Peruvian economy and the opportunities created by them, knowing the most important agreements signed by the Peruvian government.


Prof. Edmundo Lizarzaburu, Ph.D. Student - Carlos III University, Spain

The course places a h4 emphasis into understand the nature, objectives and difficulties of risk management as a tool to guide decisions that maximizes the company's value.


  • Explain how modern corporations have to follow risk management methods.
  • Explain the roles and structure of the risk function and the nature of relationships with other areas in the organization.
  • Use models from financial and risk theory to support risk analysis and guide decisions that maximize the company's value.


Prof. Javier Del Carpio, PhD.

Dean of the Faculty of Engineering – ESAN Univerdsity

The course involves theory and practice. Its main goal is to promote an entrepreneurial culture.

It involves the identification, motivation, orientation and development of the individuals’ potential. Further, the course relate these individual capabilities with entrepreneurial competences and helps students to understand the needs from the environment to generate business ideas, to identify business opportunities and to structure business plans that help students to create sustainable and competitive companies in both the national and international markets.

This course is designed to help you understand the meaning of both entrepreneurship and entrepreneur, to help you decide if and when you want to follow an entrepreneurial path, and to give you some basic tools to pursue such a path successfully.

In particular, the course aims to help the participants: first, to identify and evaluate business opportunities; second, to evolve from a business idea to a business concept and third, to establish the basis to exploit the “winning concept” that you, as an entrepreneur, have developed.

Over the course we will expand the definition of an entrepreneur beyond what we typically consider an entrepreneur (i.e., a person to starts and/ or runs a business) to include people who are entrepreneurs within other companies. We will do this for two reasons. First, as you will see, many entrepreneurs spend years developing skills and experience as traditional employees working for others before venturing out on their own. Second, I believe that the mind-set and skills that can make you a successful entrepreneur are the same ones that can make you a successful executive. Indeed, high-growth, innovative companies need entrepreneurs to drive growth and innovation within their companies.

Despite that this is a regular course; independent study is an integrated part of the class requirements. In every week, participants not only will have a direct interaction with the instructor through “on campus” classes but also will be required to do independent study during the week (to be prepared for potential quizzes). The teaching style will mix theory and academic concepts with practical applications.


  • Demonstrate written communication skills in both academic and professional assignments.
  • Propose, evaluate and defend possible solutions about a specific problem.
  • Identify the social responsibility of a particular company about its customers, suppliers and other stakeholders.
  • Demonstrate competence in basic concepts and principles in different fields such as: business, accounting, economy, finance and marketing.
  • Develop operating plans for each of the functional areas of the company.
  • Formulate and evaluate investments.


Prof. Estuardo Lu, MBA - ESAN University, Peru

The aim of the course is to facilitate that student develops a key competition in the search or creation of the value of a business, which consists in the developing of his capacity to generate, integrate and combine ideas to launch in a successful way new products to a market as well as to develop and plan each of the stages of the process that must follow. The course seeks to develop also the skills of evaluation of the attractiveness of a category market of a new product, the effective presentation of his offers, as well as the leadership and the teamwork involve in the management of a launching project.


  • Analyzes, evaluates and recommends the opportunities of market that could be turn into potential ideas for successful products launching that allow companies to lever up their growth strategies.
  • Develops and designs in detail the plan or process that an idea for a product have to follow to turn it into a winning concept, analyzing carefully each of its stages.
  • Formulates and presents clearly how to develop a differential concept from a product idea and a better comprehension of the needs of the target audience.
  • Evaluates the attractiveness of the market for a new product, applying methods of forecasting or estimating potential market demand.
  • Designs, analyzes and interprets research test of products or concepts.
  • Designs and establishes the plans of launching and methods of introduction of new products to the market aligned with the rest of the marketing mix variables.
  • Develops the skills of speaking and writing, as well as the argumentation and the effective presentation of proposals, research plans and launching plans.


Visiting enterprises is the most effective way to learn the dynamics of business in emerging markets. In the course of the CBEM program, students may visit different national companies of international prestige, and well-known foreign companies with headquarters in our country. The aim of these visits is that students know how these companies do business in an emerging market, which currently generate employment and represent new opportunities.

Corporate visits during the previously semester:

  • Grupo Gloria
  • Lindley Group
  • BVL Bolsa de valores de lima
  • BCRP Banco Central de Reserva del PERU


Students who successfully complete the program requirements will receive the Certificate in Business for Emerging Markets by ESAN University.


Some important dates in the CBEM Program during the semester:



Nomination Deadline

October 30th

Application Deadline


Welcome and orientation day


Beginning of Classes


End of exams

JULY 15th

*Expected arrival date: one weeks before the term begins.


Each semester, the CBEM Scholarship are awarded for a full semester, which includes a 70% reduction in tuition fees. Thus, the program fee is US$ 2,500 dollars, providing the following benefits to students : a) Accident insurance; b) ESAN ID Card (Students can access to the library, computer labs and participate in extracurricular activities); and c) University Card (Students will gain the benefit of low-cost public transportation and access to certain public establishments at half price, ex: theaters, museums, libraries, etc. - issued by the Peruvian government).


  • Online application form
  • A full-color digital photo (JPG Format).
  • English language Certificate (for not native English speakers) TOEFL IBT 80 or IELTS 6.5.
  • Resume or CV (English or Spanish).
  • Official Transcript of Records from all courses taken at Home University (English or Spanish).
  • A clear copy of valid passport.
  • Learning Agreement signed by your coordinator.
  • Copy of International Health Insurance (Mandatory).
  • Round air ticket to Peru


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