Advanced Competitive Strategy
This course analyzes the strategic lessons learned from the fields of military science, political science, international relations, and history, especially of the history of world empires from Ancient Rome to the British and even modern America. Applying these lessons to business, this course examines when and where to use guerilla versus traditional war fighting strategies, defensive versus offensive strategic postures, brinkmanship versus cooperative strategies, and revolutionary versus counterrevolutionary strategies. Part of the course is devoted to the use of portfolio strategy as a competitive weapon to create mutual assured destruction, shift the balance of market power between competitors, and create the conditions for profitability and stability by guiding the evolution of industry structure. To apply these concepts to business, the course develops visual tools such as price-quality analysis, stronghold analysis, know-how and smart-bombing analysis, as well as competitive pressure mapping and sphere-of-influence analysis. The course provides an alternative to traditional economic and strategic planning frameworks, sometimes presenting a contradictory viewpoint.
Advanced Corporate Finance
This course surveys scientific evidence in the field of corporate finance. The purpose is to help students develop a way of thinking about and quantitatively frame corporate finance decisions facing executives, management consultants, and investors. The readings and class discussions are largely non-technical, but students must have a good understanding of basic statistics and regression analysis. We discuss studies addressing the costs of alternative methods of raising capital, capital structure choice and dividend policies, costs associated with financial distress and bankruptcy, and shareholder engagement policies and corporate control transactions. Working in groups of two, students are responsible for submitting weekly summaries of assigned readings, presenting individual articles to the class, and a final term project.
Advanced Entrepreneurship
This course is integrative and experiential, drawing from a range of business basics. Its main focus is in-depth exposure to the process of opportunity recognition, starting, and scaling an enterprise from an idea and business plan into a company. The course will cover: 1) opportunity recognition and evaluation: developing a startup idea involving technology, a product, or a service; 2) crafting a promising execution strategy and validating market potential; 3) developing a credible business plan and delivering effective presentations; 4) building a team of employees, partners, and investors; and 5) marketing, sales, and operations. Starting a company can appear to be an overwhelming task. Acquiring the skills before engaging in a venturing process is valuable. Class discussions and analyses will sharpen understanding of the process and the business problems that entrepreneurs face. To gain experience students play the entrepreneurship simulation game in which teams play the roles of entrepreneurs and investors. As an entrepreneur students formulate a plan to take an idea into execution, present and articulate elements of this plan in multiple sessions, defend it against challenge and criticism, and negotiate funding with investors. There will be a special effort to integrate concrete, operational, and execution-related information, to define key areas of which an entrepreneur should be aware, to expose you to a variety of successful entrepreneurs and investors, and to provide a framework of toolkit resources relevant to startup execution. As an investor students evaluate, provide constructive critique, make an investment decision, and negotiate terms with peer entrepreneurial teams. The class accommodates both students with a pre-existing plan and those wishing to develop an idea.
Advanced Issues in Accounting
This course is structured as a continuation of the core financial accounting course. Topics include: accounting for investments (marketable securities, affiliated companies-equity accounting, and subsidiaries-consolidations); accounting for pension and other post employment benefits; foreign currency translations; accounting for derivatives, and off-balance sheet finance arrangements (variable interest entities-the financial structures used by Enron). Some of the more difficult issues discussed in the core will be briefly revisited (accounting for deferred taxes). Compared to the core accounting course, this course will be more case-based and less lecture orientated. Nevertheless, we will still work through a summary set of notes in class to ensure a solid understanding of the fundamental concepts before applying them within the context of a case. This course should prepare students well for analyzing financial statements.
Advanced Management Communication
This full-term course will improve students' ability to speak effectively in both "tell/sell" presentations (such as technical and sales presentations), and "consult/join" facilitations (such as meetings and brainstorming sessions). AMC is highly experiential and requires full class participation, extensive preparation of various presentations and meeting role-plays, and extensive in-depth peer feedback and self-analysis. Students will give and receive feedback on both communication strategy (speaker style and credibility, audience analysis and motivation, and rhetorical structure) and communication skills (delivery, organization, and visual aids).
Applications of Optimization
Building on the optimization coverage in the core Decision Science course, this course provides advanced tools that are useful in many industries and functions. After reviewing and extending the formulation and interpretation of linear programming models, the course introduces data envelopment analysis, a sophisticated approach for evaluating the efficiency of similar businesses or business units. The course touches briefly on the solution of nonlinear optimization models and then covers formulation and solution of integer programs, with emphasis on marketing and logistics applications. The coverage then moves on to heuristic programming and the use of evolutionary algorithms to solve problems that do not fit easily into the traditional optimization frameworks.
Art of Modeling
This course provides experience in practical modeling for decision making. The course is built around a series of cases, each of which represents a realistic decision situation. Students structure the decision problem, develop a model for it, analyze the model, and present recommendations for action. The cases are drawn from a wide range of sources: corporate decisions, personal decisions, and governmental decisions. The emphasis is on creative problem structuring and solution, not on mastering specific modeling tools.
Business and Climate Change
Dealing with the impact of climate change is an important societal and economic concern of our time. Forward-thinking companies worldwide are aggressively addressing it, since they are the constituency with the largest cause/effect relationship to climate change. Through their resource use and emissions, companies are a cause; the effect of mitigating and adapting to it will be a source of costs (for some) and benefits (for others). Looking ahead, sizeable public and private resources will be devoted to addressing climate change. The focus of this mini-course is to examine the links between climate change and the firm as viewed through an economics/finance/public policy lens. Goals are: (1) To develop an awareness of the facts and debate on climate change, and the challenges/opportunities it presents for business; (2) To understand to the science, forecasts, and public policy on climate change as well as the key players, their roles, and agendas; (3) To develop tools and frameworks to understand the economics of regulatory responses and the value-at-risk consequences of companies’ exposure to climate change risks, fossil fuel use, carbon footprints, and GHG emissions; (4) to develop an understanding of the emerging landscape of corporate responses to climate change. There will be a fossil fuel beta project and a term paper.
Business of Healthcare
This course focuses on the intersection of business and medicine. The primary objective is to understand the business side of health care and be able to answer the following questions: At which point and with what data would you invest in a healthcare product/company? What factors would you consider and which variables would have the most impact on your investment decision? These fundamental questions will be analyzed from industry (pharma/biotech/device), investor (VC/I Banking) and entrepreneurial points of view. Since health care is a highly regulated industry worldwide, emphasis will be on understanding regulation and formal requirements which influence commercial success of an enterprise. Variations in strategies for development and successful commercialization will be highlighted. Focus will also be placed on anticipated competitive response.
Business Strategies for Sustainability
Companies face challenges and opportunities created by concerns about their environmental and social impact. General managers need to understand the factors that drive business value when dealing with these concerns. This course will evaluate how firms are responding to these challenges. It will also explore how firms are strategically influencing the regulatory and competitive context in which they operate. The course will consider examples related to climate, natural resources (renewable and non renewable), and human health. It will incorporate in-class strategic simulations, case examples, and speakers
Business Strategy for Internet Companies
This course deals with strategy for companies whose business is primarily on the web. The course seeks to uncover strategies through which companies can make money on the web in a sustainable, long-term manner. The course will include substantial student involvement in researching emerging business models and strategies on the web.
Business-Social Sector Partnerships
This course investigates program- and project-driven collaboration between for-profit business and nonprofit organizations, and the potential for win-win outcomes. Students explore value creation at the intersection of business and the social sector and how capacities, constraints, and strategies might differ from business managers to their nonprofit counterparts. We use a number of frameworks for analyzing cross-sector collaboration i to identify the range of challenges that confront business and nonprofit partners over the life-cycle of a partnership. We embrace the larger question of how differences among partners may or may not drive learning and transformation of the partners themselves, and how to approach this analysis. The course is motivated by current debates regarding the role of firms in society. It takes a global perspective on corporate responsibility and stakeholder management, paying attention to the challenges that firms face in managing collaboration with social sector actors across boundaries of both markets and cultures. The cases and readings develop an appreciation of innovative partnership models and how they link firm, society, and public interests. Readings and class discussion seek to develop an appreciation of the range of viewpoints that might be expressed by different actors, from the business manager, to the nonprofit manager, the social entrepreneur, and the public sector actor. The course seeks to develop a better understanding of the risks and challenges that are characteristic of cross-sector collaboration.
Comparatives Models of Leadership
This course is to gives students a better understanding of leadership from multiple perspectives. We will examine leaders like Margaret Thatcher, Orit Gadiesh, Coach Bobby Knight, Charlotte Beers, and the famed Artic explorer Ernest Shackleton. The course explores the ways leadership has been defined in the last century, the similarities and differences among common leadership theories, and the way leadership has been demonstrated in business, military, and athletic sectors. Students will read about leadership theory, read cases portraying leaders who exemplify these theories, benefit from visitors who are proven leaders, and explore through case studies, class discussions, written assignments, and role-plays the relevance of leadership theory to the work they will do as business leaders. The first three class sessions will be devoted to a review of the history of leadership theory. Through case studies examining leaders, students will learn about the progression from Trait, Skill and Style Theories to Situational and Contingency Theory, to the more current theories that define leadership as a relationship. Two classes will be devoted to study and discussion of leaders in the military and athletic arena. By reading about and discussing such leaders, students will gain an appreciation forlessons that can be applied to leadership in a business or professional organization. Three classes will cover a set of leadership tasks frequently encountered by all leaders. We will examine and discuss cases where individuals have to lead change efforts, manage employee performance, and deal with conflict. Students will analyze the actions of leaders in these situations, and pose and defend possible solutions. The last class will be devoted to a discussion of the leadership accomplishments of Earnest Shackleton. We will examine the ways in which Shackleton did (or did not) lead effectively using the theories developed throughout the course.
Corporate Communication
This minicourse focuses on the changing environment for business and the corporate communication function. Building on the first-year curriculum, it covers, in greater detail, the changing environment for business (as viewed through literature and film), media relations, financial communications, corporate advertising, reputation management, and crisis communication. Students also work on written and oral communications skills through case analyses, experiential exercises, and presentations.
Corporate Financial Management
This course uses case study to examine how important financial decisions, such as capital structure, risk management, security issuance, payout policy, acquisitions, and financial engineering, can affect the value of firms. The first half of the course develops tools that we will use throughout the course. In particular, we will use Crystal Ball to build a framework to deal with risk and uncertainty in corporate finance. We will learn to use derivative securities and corporate risk management techniques to enhance shareholder value. Topics of discussion include hedging, Value-at-Risk, management of exchange rate risk, interest rate risk, credit risk and operation risk. Finally, we will use this framework to value real and financial options. The second half of the course covers capital structure, payout policy, and financial engineering. Topics for discussion include the value of control, convertible debt, hybrid securities, structured finance, the use of options to reward management, and financial engineering solutions to incentive problems. This course exposes students to some of the most important advances in corporate finance of the last two decades. The course is also very demanding. Class preparation should take no less than 10 hours a week. Accordingly, this course is only suitable for students who intend to pursue a career in finance and are able to make a significant time commitment.
Corporate Responsibility
This minicourse starts with the premise that corporate social responsibility is good for business and focuses on how leaders can balance the needs of their organizations with responsibilities to key constituencies. Through cases focusing on the social, reputational, and environmental consequences of corporate activities, students will learn how to make difficult choices, promote responsible behavior within their organizations, and understand the role personal values play in developing effective leadership skills.
Corporate Restructuring
This course exposes students to a broad range of financial restructuring techniques that can be applied to improve business performance. Case discussion and visitors help illustrate how various corporate restructuring approaches may be used to increase firm value and to highlight characteristics of potential candidates for different restructuring techniques. The case analysis provides ample opportunity to practice the application of standard corporate valuation methods. Students will gain a basic understanding of corporate governance, with particular focus on agency problems and executive compensation issues. Topics include divestitures, spinoffs, splitoffs, equity carveouts, tracking stock, leveraged recapitalizations, and leveraged buyouts, private workouts, prepackaged bankruptcy filings, the role of distressed investors and restructuring in bankruptcy.
Corporate Valuation
Students will have an opportunity to estimate cash flows and discount rates in order to establish values for projects and firms. In addition to traditional discounted cash flow (DCF) analysis, the course explores alternative valuation methods, such as real option valuation and comparable company analysis. The contribution of corporate financial decisions regarding capital structure, cash distribution policies, and performance evaluation schemes to value creation and destruction are also investigated. The course will use a mixture of lectures, cases, projects, and guest speakers. Prerequisite: Corporate Finance or its equivalent.
Database Marketing
This course introduces the concepts and methods of database marketing in hands-on assignments that show how specific methods pay off in terms of increased profitability. Students use real-world applications and databases as they learn about topics such as the lifetime value of the customer, scoring current customer files based on market potential, direct marketing process, next-product-to-buy, and market-basket analysis.
Debt Markets
This course will focus on the valuation of fixed income securities, fixed income derivatives such as interest rate swaps, options and futures, and investment techniques employed in the hedging and management of fixed income portfolio risks. Valuation concepts will include determining implied present value factors from bond prices, the term structure of interest rates, yield-to-maturity, zero-coupon (spot) yields, and par yields. Interest rate risk management techniques will include traditional duration/convexity and key rate durations, developed more recently. We will focus on the use of stochastic (random) interest rate models as tools for pricing and managing the risks of interest-sensitive portfolios containing securities with complex option-like features. Although most of course will focus on default-free securities and related derivatives, we will also study conforming and subprime mortgage CDO structures. The course should be of interest to any student who plans to work in the area of fixed income portfolio management, equity portfolio management (since modern portfolio management involves a tradeoff between equity and fixed-income investment), commercial banking, corporate treasury, or debt underwriting, including real estate finance. Many of the course topics are covered on the CFA exam. Grading will consist of four group projects (10% each), class participation (10%), and a 3-hour final exam (50%).
Decision Support System Design
A decision support system (DSS) is designed to provide organizations and individuals with informative analyses that enhance decision making. A DSS is made up of a model (or models), a source of data, and a user interface. When a model is implemented in Excel, it is possible to use Visual Basic for Applications (VBA) to make the system more efficient by automating interactive tasks that users would otherwise have to repeat routinely. VBA can also make the system more powerful by extending the functionality of a spreadsheet model and by customizing its use. This course covers the programming skills needed to build spreadsheet-based decision support systems.
Doing Business in the Arab Gulf States
This course provide an introduction to the financial, legal, cultural and social contexts of conducting business in the Arab Gulf states (the United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman). The course is meant to provide the necessary background and an introduction to a variety of practical issues that foreign executives and managers will likely encounter while working within one of the six countries that have become fast-growing emerging economies with substantial assets in Sovereign Wealth Funds. The course blends academic research and skill sets with the experience and insights of management practitioners working in the region. The course has a dual focus. The first is to provide the knowledge necessary to understand and function effectively within the different business systems of the Arab Gulf area. The second is to make clear and understand the more specific and unique aspects that underlie these systems: for example, how to deal effectively with informal arrangements, brokerage arrangements, and patronage; how to successfully negotiate gender issues in a business environment that has traditionally eschewed public roles for women; how to navigate within countries that have unique mixtures of state-owned and private enterprises; to understand the scope and role of Islamic finance; and to understand the dilemmas and strategies in dealing with large segments of expatriate labor. To enhance the readings and discussions, guest speakers who live in the area or who have extensive experience in its business environment and can provide an insightful perspective on these issues will be invited to participate in the course.
Entrepreneurship and Innovation Strategy
The essence of entrepreneurship is new combinations—of ideas, resources, partners, and customers in the effort to create new market space. The entrepreneurial challenge is one of selecting among many potential combinations and finding a way to organizing the venture (whether startup, corporate, or nonprofit) that will allow you to realize your ambition for the opportunity. In this course we will examine the challenges of entrepreneurial innovation. How should we approach the challenge of picking the right opportunity, aligning the right partners, and targeting the right market and, perhaps most importantly, setting the right expectations for a new venture. We will focus on the challenges and opportunities confronted by venture leaders. However, we will also consider the perspective of non-entrepreneur stakeholders (analysts, investors, partners, employees) who are not directly in charge of the new venture, but are directly influenced by its success, and must conduct their own due diligence before committing their allegiance and resources. We will develop a set of analytic lenses that will help us assess the potential of new opportunities and to strategize about how to best exploit them.
Entrepreneurship within Established Organizations
To stay on top, corporations must learn to continuously create, grow, and profit from completely new ways of doing business. They must simultaneously pursue both excellence in their existing business and creativity in generating new businesses. This minicourse will take two perspectives. The first is that of the CEO of a corporation. How can a CEO build a corporation that can balance managing the present with creating the future? How is such an organization structured? What policies need be put in place? The second is that of the CEO of a new venture within a larger corporation. How is the relationship between the new venture and the parent best managed? What tensions naturally arise? How may they be overcome?
Ethics in Action
In this minicourse, we will consider the ethical challenges that arise across the spectrum of business activity. Several faculty members from diverse disciplines will lead discussions of ethical issues in cases involving their particular areas of expertise. We will look at several specific ethical issues faced by businesses in the current environment both in the US and in the global marketplace, where different local practices and cultural norms seem to muddy the ethical water. Our purpose in this course is to acquire some practical business skills: the ability to identify the ethical dimensions of business problems, the ability to make practical, reasoned decisions when faced with ethical dilemmas, and the ability to justify those decisions in language that is both clear and persuasive.
Field Study in Private Equity
This course provides hands-on experience working with private equity practitioners and growth ventures so students can learn to plan, manage, and invest in the contexts in which they operate. Graduates lacking such experience are at a disadvantage in getting jobs at private equity firms and are less prepared to succeed when presented with private equity or growth venture opportunities. Unlike independent study, in which student teams report only to their faculty sponsors, this course requires teams to present their work to their classmates, so all may learn from each other. More specific learning objectives will depend on each project's topic.
Financial Institutions
Commercial banks, investment banks, investment managers, insurance firms, and trading markets are at the heart of the financial system. This course analyzes these institutions and markets and addresses the fundamental problems faced in managing these institutions, the cause and effect of incentives faced by different players in the financial services sector, and how changes in technology and regulation are reshaping financial institutions. The course aims to give students intuition that will remain valid and strong even as tremendous change in this sector unfolds.
Financial Reporting and Statement Analysis
FRSA (Howell) is aimed at students who would like additional accounting and finance reinforcement or who are headed toward consulting or general management. The perspective is that of the general manager (and outside investor) interested in using financial statements as a starting point for creating additional firm value. FRSA moves a bit more slowly than FSIA to allow reinforcement of the first year core accounting course FMAR. FRSA will have a take-home mid-term exam. Then, FRSA will look at a variety of different (young, high growth; acquisition-oriented; cyclical; and financial) situations. During the last four sessions, the class will look at four industries (retailers, manufacturers, services, and financial firms) and four companies in each industry. Students will be organized into teams to study the selected companies. Grades will be based on assignments, classroom participation, mid-term exam, and team report. FRSA (Resutek) provides students with a systematic framework for using financial statements in business analyses. The objective of the course is to provide students with a comprehensive set of tools to analyze the information contained in financial statements and demonstrate how to use the information to evaluate financial performance. The course utilizes an Excel-based valuation package that helps students develop the requisite skills needed to analyze the financial statements of real firms and to become proficient in using Excel to perform financial analysis. The first half of the course will be focused on understanding how to use accounting analysis and financial ratios to understand the financial condition of a company. The second half of the course focuses on using this information to project future accounting performance, which is a primary input of any valuation model. Grades will be determined based on several cases, class participation, an exam, and a final group project.
Financial Statement Interpretation and Analysis
This course is aimed at students with stronger accounting and finance skills (perhaps even a CPA or CFA) and headed toward investment banking, private equity, or securities analysis. The perspective is that of an outsider attempting to assess and value the firm. The first ten classes will develop analytical skills and will look at a variety of different (young, high growth; acquisition-oriented; cyclical; and financial) situations. The pace is quick. During the last eight class sessions, the class will look at 8 different industries (retailers, manufacturers, services, and financial firms) and four companies in each industry. Students will be organized into teams to study and report on the companies. Grades will be based on assignments, classroom participation, and the company reports. Each student will be a part of two teams and contribute to two reports.
Futures and Options Markets
This course will provide an introduction to options and futures and the applications of these securities to the management of stock portfolios, fixed-income portfolios and other financial and business risks. Emphasis will be placed on real-world applications of theoretical (or conceptual) material developed in class and using the theory of derivatives pricing and risk management to better understand 1) the role of derivatives markets in our financial system, 2) derivatives trading, and 3) some root causes of the recent financial crisis. Although the pricing of derivative securities and the applications of such securities to portfolio and risk management is mathematical by nature, most of the math in the course will be algebra-based. Topics include: no-arbitrage-based option pricing relationships; the binomial and Black-Scholes option pricing models; option investing from a risk-return perspective; using option pricing models in portfolio management; optimal stock/option/safe asset investing, exotic options, option valuation via Monte Carlo simulation; futures and forward markets, pricing and hedging and an introduction to interest rate futures. The course incorporates lectures and student discussions in covering the various topics. Students will be required to prepare several application-based projects as a basis for class discussion. The course should be useful to students interested in portfolio management, derivatives trading, risk management, management consulting, executive compensation, commercial banking, investment banking, industry finance or any other field involving financial decision-making.
Global Marketing
This course develops skills in evaluating, developing ,and implementing global marketing strategies. Students will develop a greater appreciation for external forces shaping marketing decisions (economic, cultural, legal, political); learn to identify and evaluate opportunities in global markets; and adapt marketing programs for specific markets. The course structure is flexible, so that each student can tailor the course to meet his or her personal goals. The course consists of three general topics: Global Marketing Environment, Global Marketing Strategy, and Global Marketing Mix. Lectures and readings will be used to introduce frameworks and findings on each topic. Cases will then be used to expand and apply this knowledge in a broad range of global scenarios. We will analyze and discuss about 10 cases during the term. Each student will work with other students to analyze and present recommendations for one case. You will prepare your presentation as if you are trying to convince the CEO to follow your recommendations. Each student will also work with other students to play the role of CEO by questioning a presenting group and suggesting alternative recommendations. Afterwards, the entire class will discuss each case. Finally, each student will prepare a one-page write-up for about a third of the cases. In addition to case assignments, each student will complete a project focusing on a specific region and/or industry. The topic you select and the group members you choose (up to three others) are up to you. If you are the only student interested in a particular topic, it is fine to work alone. The project assignment is to conduct an intensive analysis of a country or region and a global marketing situation within that environment. Potential topics include conducting a feasibility study for entering a new market or writing a marketing plan for a specific product in a specific country.
Introduction to Entrepreneurship
This course is designed to provide basic education in commercialization of technology, entrepreneurship, and the starting of new business ventures. The course will address fundamentals in major areas of conceptualizing and launching a successful new business, including: concept development, market and competitive assessment, business plan development, team building, financing and investor presentations, and execution. Students will be exposed to the startup process in detail. The course will combine lectures and visiting speakers, workshop sessions, and readings. Throughout the term, participants will develop an executive summary of a business idea, which they will present to a panel of potential investors at the conclusion of the course.
Investments
This course examines financial theory and empirical evidence that is useful when making investment decisions. The topics covered include portfolio theory, equilibrium models of security prices (including the capital asset pricing model and the arbitrage pricing theory), the empirical behavior of security prices, market efficiency, performance evaluation, venture capital, and behavioral finance. The course provides an understanding of the equilibrium pricing relationships in asset markets, as these relationships form the foundation for financial decision making and management; develops a set of analytical tools that can be used to solve investment problems; improves students' understanding of financial institutions and markets; and helps students develop a way of thinking about and framing investment decisions.
Leadership in the Global Economy
This course focuses on countries, firms, and the interactions between them in the arenas of international trade, investment, and finance. The first half of the course focuses on the economic analysis of countries. Case studies provide a quick tour of the opportunities and challenges faced by nations at various stages of development. The objective is to understand the country analysis required to analyze the global expansion options of a business. The second half of this course focuses on the causes and consequences of exchange-rate fluctuations and country risk. Cases and a simulation exercise are used to study the following topics in a variety of global industries: corporate operating decisions on pricing, output, and investment; corporate valuation; cross-border financing; and corporate hedging policies.
Leadership Out of the Box
Exceeding performance expectations is not enough in today's business climate if an executive is to succeed. Executives must find ways for developing their employees in order to get the very best productivity. Wise leaders recognize that people are a source of corporate wealth. A potent leader co-creates with his or her people to push the company ahead of the competition. But before a leader can assume this role and responsibility, they must be willing to engage in their own developmental journey. In this course, we take leadership out of the box by studying the lives of extraordinary leaders while engaging in our own self-exploration. Our intent is to appreciate the strengths and frailties all leaders possess, and to understand the learning edges we all experience. This course creates the space to study, reflect on and discuss principles of leadership, such as self-awareness, identity, faith, vision, courage, passion, mindfulness, and commitment. By studying the lives of others, we learn how the context shapes the experiences and choices of leaders over the course of their lives. We also recognize the power of the historical moment that enables certain men and women to come to the forefront at critical times.
Management of Disasters
More frequently, companies, organizations, individuals, and groups are experiencing disaster scenarios. These disasters may be triggered by external factors or internal ones (sometimes years of neglecting to take appropriate action early enough). Either way, disasters require urgent appropriate response as they can threaten the existence not only of the organization itself, but also of others connected to it. Anticipation, risk management, mitigation, operations management, communication are all critical to the ultimate outcome. Too often, the management of these crises is ineffective and management is second guessed and criticized. But the same leaders who are criticized for their management during disasters are often regarded as capable, competent leaders in their organizations during normal times. For-profit businesses such as Exxon, government organizations such as FEMA, and not-for-profits such as the American Red Cross have all faced disaster situations and been found wanting. Often the valuable lessons that disaster situations uncover for organizations are not noticed, understood or acted on; and thus these same organizations and others who could benefit from their experience do not improve. Disasters need to be understood and managed with potentially different leadership skills than normal business operations. This is true not only in organizational communications during a disaster, but also in the basic management concepts needed. This course focuses on leadership and management principles necessary during disasters, and, where applicable, their relevance, or lack thereof, in normal business operations. While some discussion of communications and ethics during disasters may arise, this will not be a major focus of the course as it is covered in other courses. During the course we will explore such concepts as anticipating disaster, risk management, leadership in crises, corporate culture and crisis response, and long term organizational transformation based upon disaster.
Management of Health Care Organizations
The course is appropriate for students who are interested in careers in health services management or who will be working in companies serving the health care service organizations including consulting, banking, and medical supply companies. The health services industry is a large and dynamic sector of the economy with unique characteristics. It includes hospitals, health systems, ambulatory clinics, medical group practices, and other organizations providing health care services. Successful health care leaders must be well grounded in traditional management knowledge and practices, yet at the same time appreciate the unique aspects of the health services industry. Suppliers to the health industry (consultants, bankers, medical supply companies) must understand the strategic and financial issues facing leaders of health care organizations in order to compete successfully. Among these issues are the unique character of organizational relationships, the dynamics of the health care workforce, multiple reimbursement arrangements, important supply chain relationships, and distinct regulatory requirements. The goal of this course is to provide students with the knowledge and understanding of key leadership and strategic challenges within health services organizations. This course covers important functions of health services management, including strategy, finance, and operations. It introduces students to leadership issues in performance improvement, change management, organizational leadership, and strategic alliances. The course is appropriate for students who are interested in careers in health services management or who will be working in companies serving the health care service organizations including consulting, banking, and medical supply companies.
Management of Service OperationsThis course develops a business process view of service delivery and focuses on the analysis and design of processes to achieve organizational goals. The notion of services is broadly construed to include both “pure” services, such as banking and health care, and the service components of manufacturing, such as after-sales support and product design. Course content will include a mix of case discussions and lectures.
Managerial Accounting
This course uses the concepts of opportunity cost and organizational architecture as a conceptual framework for the study of managerial accounting. Opportunity cost is the conceptual foundation underlying decision-making; organizational architecture is the conceptual foundation underlying the use of accounting as part of the firm's control mechanism. We examine these issues using both a textbook and case discussions. The major topics include cost behavior; accounting costs versus opportunity costs; divisional performance measures; transfer pricing; budgeting; cost allocation; activity-based costing; and cost variance analysis.
Managers and the Law
Managers and the Law is designed to provide students with practical knowledge of legal issues and principles that often arise in the business environment. The course arms students with the ability to spot potential legal problems and minimize their risk to a business. Topics include: jurisdiction, contract law, employment law, ADR, sexual harassment, employment privacy issues, copyright and trade secrets, business torts, forms of business organizations, duties of officers and directors, corporate criminal law, corporate governance, and securities regulations. The class has a hands-on, interactive atmosphere, and several topics are led by distinguished speakers who have attained top positions in their fields and acquired extensive specialized knowledge and experience.
Managing Strategic Business Relationships
This minicourse focuses on how to manage strategic business relationships. Managers in today's organizations must negotiate, use power, and resolve conflicts to manage across the organizations' boundaries. The course explores relationships with value chain partners, competitors, parent organizations and subsidiaries, different functional units, bosses, subordinates, and unions. Students participate in simulated situations, with guided self-appraisal and analysis of videotaped performance, to develop an effective approach for dealing with people and groups. The course focuses on the individual student and helps to develop an understanding of personality predispositions, strengths and weaknesses, and ethical constraints and obligations.
Managing the Firm in the Global Economy
This class uses a mix of lectures, class discussions, and case studies to survey firms engaged in international business. We commence by examining the causes and consequences of increased global and regional economic integration, including an introduction to the impact of increased integration on firm strategy. We then use a combination of cases, international trade theory and details on international trade policy to analyze a central question of where firms should locate international operations. Cases involving footwear companies and a German chemical firm will help us develop a broader notion of the source of national location advantages, including the importance of related and supporting industries, proximity to supplies and customers, and the structure of domestic competition.
Managing the Marketing Channel
The distribution channel through which a firm markets its products and services to end customers is routinely categorized as of the four Ps of the marketing mix. But managing the marketing channel is an ongoing strategic challenge where decisions have long-term implications that are often difficult to change. The unique challenges in managing the marketing channel arise from the fact that a firm not only markets through but also to the channel members. And the channel members, in turn, market not only the firm’s products but also competitors’ products and, increasingly, their own private label products. Thus, channel members are conduit, customer, and competitor rolled into one. This course helps students understand the complexities involved in managing the channel and provides frameworks that can be used to deal with these complexities. The first half of the course focuses on channel design and coordination. Topics include designing the channel structure, choosing channel members, and developing marketing strategies and incentives to coordinate the channel. Channel coordination refers to a firm’s ability to influence channel members’ decisions even though it does not “own” the channel. The second half of the course focuses on the power balance between the firm and its channel members, and the channel’s role as a competitor. We will discuss how the firm’s and the channel members’ marketing decisions such as advertising, promotion, loyalty programs, and private label introduction influence, and are influenced by, the power balance. Throughout the course, we will take the viewpoint of both the manufacturer and the channel member. In that spirit, one of the two guest speakers in the course will represent a manufacturer and the other a retailer.
Market Entry & Growth Strategies
This course examines strategies for market entry, business growth and development, and market exit. Although the course will focus primarily on established firms, we will also discuss strategic entry and growth for new companies. In addition, we will examine these issues for new industries as well as for existing industries.
Marketing Research
This course is designed to give students an appreciation of the scope of marketing research and the nature of marketing research techniques. The goal of the course is to make students knowledgeable users of marketing research information. The first part of the course considers the acquisition of data. Research design, sampling procedures, and questionnaire design are discussed in the context of both traditional and online market research. The second part of the course introduces students to multivariate data analysis techniques, including cross-tabulations, factor analysis, discriminant analysis, and conjoint analysis. The course uses readings, case studies, and hands-on business projects.
Medical Care and the Corporation
Employer-sponsored health care plays a significant role in the U.S. health system. From the standpoint of business leaders, health care plays a critical role in the viability and success of a business. This course focuses on the structure and dynamics of the health care system from the perspective of corporate leaders as both payors of care and trustees of health care organizations. Through the course, students will understand the importance of business executive's role in improving health care as a business and social imperative. The course will 1) demonstrate how all corporate leaders can exercise judgment and control over expenditures for health care benefits while protecting the health of their employees, 2) enhance the ability of graduates to serve as trustees of health care organizations (hospitals, physician group networks, insurers and purchasing collaboratives), and 3) reinforce the applicability of core management concepts and techniques when serving in either of these capacities: employer/payor or health care organization trustee.
Negotiations
This course is designed for students who seek to learn how to become effective negotiators in managerial settings. The course is largely experiential, which means that students learn the theory, concepts, and models underlying good practice inductivelythey learn by doing and then reflecting on their effectiveness. As a result, perfect attendance, promptness, and adequate preparation are course requirements. Simulated negotiations span the range of situations managers will encounter.
Operations Strategy
This course helps students become more familiar with some of the major issues and managerial concepts relating to strategic management of the operations function in manufacturing and the service sector. The course will provide you with frameworks to link an operations strategy to the firm’s competitive positioning as well as tools to understand the economic and technology drivers for a global operations footprint. The nine-session course has a focus on competitive cost analysis to support strategic operational decisions. Accordingly, it will provide a strong general management foundation to students interested in large multi-national corporations but will also be relevant to those interested in smaller eBusinesses or those planning to consult to such businesses.
Private Equity Finance
This course examines the financial perspective on decisions in entrepreneurial settings. While focusing on financial decisions, the course is integrative in looking at entrepreneurial financial decisions from the perspectives of the business opportunity, the goals of the participants, and the context, as well as looking at the "deal" and the resources employed. The course also offers a close examination of the investor's role and the expanding institutional environment of private equity financing.
Professional Decision Modeling
This minicourse applies decision science (simulation, optimization, and decision analysis) in the context of a case drawn from professional decision consulting. The case challenge is to value an asset in the context of a spin-off negotiation. Students receive case information in weekly installments and work in teams to design and build spreadsheet models as a means of making recommendations on questions posed by client management. Students present results and modeling approaches in class. CheckThisOut! sessions introduce spreadsheet modeling techniques of general interest with examples that students work through on their laptops. Excel, Crystal Ball, and Solver are used. A course website supports a weekly discussion forum and step-by-step guide to spreadsheet techniques demonstrated in class.
Real Estate
This course provides an overview of the real estate industry and the basic analytic techniques for investing in this $17 trillion asset class. Real estate knowledge is also important to managers because they must make decisions about where to locate facilities and how to structure leases. Students will find that this course takes a practical, hands-on, problem-solving approach. Cases are used in every class because they reflect the project oriented nature of this industry. It is a general management course that blends quantitative and qualitative analysis. The course also emphasizes the entrepreneurial management style and risk analysis techniques used by successful investors and developers. One highlight of this course is the opportunity to interact with industry leaders who expose students to the latest techniques and trends.
Real Estate Mini
This minicourse provides an overview of the real estate industry and provide basic tools for analyzing real estate investments. It also touches on critical management issues like leasing. It is a general management course that blends quantitative and qualitative analysis. Cases are used in every class because they reflect the project oriented nature of the real estate industry. Students often ask about the difference between the minicourse and the full course. The full course allows us to look at a broader range of cases, build stronger skills, get first hand experience with an actual development in Hanover and meet industry leaders. The minicourse covers the basics that every manager and investor should know.
Research-to-Practice Seminar: Corporate Takeovers: Modern Empirical Developments
This seminar covers the results of recent large-scale empirical investigations into the economic effects of corporate takeovers. We focus exclusively on empirical studies in financial economics (as opposed to in the areas of strategy or organizational behavior). The research papers address questions such as: what drives aggregate takeover activity (merger waves); how large are stockholder gains from takeovers; what are likely sources of takeover gains; what are optimal bid strategies in a competitive environment; are targets in financial distress sold at "fire-sale" prices; to what extent do deal protection devices such as termination agreements and defensive tactics such as poison pills affect takeover premiums; does the presence of large institutional target shareholders affect deal outcomes; does the bidder's choice of deal financing matter; how do takeovers affect CEOs; do cross-border takeovers cause convergence of corporate governance standards; and what are the expected profits from merger arbitrage strategies. The course develops the basic empirical methodologies required to understand the course readings. Intense student involvement in both the presentation and the class discussion of the scientific papers is required.
Research-to-Practice Seminar: Economics of the Credit Crisis
This seminar is a deep dive into the economics and finance of the credit crisis, with a focus on the subprime mortgage market and especially the practices of securitization. At the end of the seminar, I students will have a strong theory- and evidence-based understanding of the facts of the 2007-8 global credit crisis. Beyond that, students should have also acquired an appreciation for the way that economists go about exploring a subject, from our reliance on theory and principles to careful empirical analysis. This part of the seminar’s learning should transcend the specific topic at hand and be of value throughout your career, no matter where that should take you. The normal class session will involve student-led discussion of research papers. Grading will be based primarily on performance in the discussion, but there will be a requirement for a short presentation. Maximum 15 students. In case of excess demand, selection will be a combination of an initial screen for prior coursework and career interests, and a lottery after that.
Research to Practice Seminar: International Entrepreneurship
Research-to-Practice Seminar: Management of Multidisciplinary Teams
Teams have emerged as the basic organizational unit of 21st century global organizations. Across all industries, teams of diverse individuals are tasked with creating, accomplishing, and delivering innovative, high quality results. To be effective, team members must collaborate, which means sharing information and cooperating to achieve a clear team goal. But unfortunately, their efforts often fall short due to barriers to collaboration. This seminar builds on the teams material in the MBA leadership core to further explore dynamics in multidisciplinary teams. This is a cutting-edge topic in research, and there is not a great deal of literature on multidisciplinary teams per se. We will begin with the assumption that multiple disciplines are a form of diversity, and apply evidence-based frameworks of diversity to the context of multiple disciplines in teams. We will take a deep dive into the academic literature to explore the basic principles of human psychology and behavior that seem to rise up and bedevil these teams in practice. For example, we will examine evidence that collaboration in teams is aided by cohesion among members, which in turn is predicted by initial similarity among members. Yet multidisciplinary teams are by necessity and by definition composed of dissimilar individuals. This makes cohesion less likely, and creates a barrier to collaboration (Ancona & Caldwell, 1992). We will explore theory that suggests the leadership role takes on new significance when there is great diversity among team members, and evaluate available evidence to support this theory. The objective of this research to practice seminar is to become familiar with evidence-based frameworks for understanding team dynamics, and to apply these frameworks to the specific case of multidisciplinary teams. This knowledge is applicable in many settings, but has particular relevance for today's health care delivery and product development teams.
Retail Pricing Strategies and Tactics
Following the marketing framework, this course considers strategic as well as the tactical aspects of pricing decisions using qualitative (consumer behavior and psychology) and quantitative (economics and statistics)
Sales Promotion
This seminar develops an in-depth understanding o