Spring Term 2013

BEHAVIORAL FINANCE (BEFIN)
Professor Karl B. Diether

Over the past several decades, the field of finance has developed a successful paradigm based on the notions that investors and managers were generally rational and the prices of securities were generally “efficient.” In recent years, however, anecdotal evidence as well as theoretical and empirical research has shown this paradigm to be insufficient to describe various features of actual financial markets. In this course we examine how the insights of behavioral finance complement the traditional paradigm and shed light on the behavior of asset prices, corporate finance, and various Wall Street institutions and practice.

BUSINESS AND CLIMATE CHANGE (BCC)
Professor Anant Sundaram

Dealing with the likely impacts of climate change has become one of the momentous societal and economic concerns of our time. Regardless of one’s personal viewpoint on the issue, it is important to recognize that 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, perhaps trillions of dollars, 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. The course goals are: (1) To develop your awareness of the facts and debate on climate change, and the challenges/opportunities it presents for business; (2) To expose you to the science, forecasts, and public policy on climate change, as well as the key players, their roles, and agendas; (3) To develop the tools and frameworks for you 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 the your understanding of the emerging landscape of corporate responses to climate change. There will be a ‘fossil fuel beta’ project, and a term paper.

This course meets the Ethics & Social Responsibility (ESR) requirement.

BUSINESS AND ETHICS AT THE BASE OF THE PYRAMID (BOP)
Professor Margaret Hanson

The condition of the world’s ‘poor’ is the subject of growing international attention. As we move into the 21st century, the markets at the base of the global income pyramid (BOP), where consumers earn about $2.00 a day, have become a meeting place of global corporations and development advocates alike. Pulled by the promise of new markets, and pushed by the demands of corporate responsibility, business leaders are today grappling with unforeseen opportunities, challenges, and dilemmas that come with the territory of working in BOP markets. The relationship between profits and poverty alleviation in pursuit of mutual value creation is the focal point of investigation of this course. In keeping with the aims of the Social and Ethics Responsibility core requirement, this mini-course aims to create an opportunity for students to discuss and weigh the opportunities, challenges and dilemmas that come with the territory of working in very low income markets, including the challenges that come with institutional failure. How such business models take shape may test traditional assumptions that MBA students make about how society intersects with markets, and raise questions not only of business aims, but also broader questions of risk and responsibility. Through case-based discussion, we will explore how market-based ventures seek to overcome challenges in a broad range of working contexts, from health care delivery, to infrastructure services, humanitarian and disaster relief, social safety nets, and environmental conservation.

This course meets the Ethics & Social Responsibility (ESR) requirement.

BUSINESS OF INTERNATIONAL DEVELOPMENT (BID)
Professor Andrew Vorkink

This mini-course examines major issues involved with international development in emerging markets in a globalized world and the intersection of institutional, business and civil society players which affect and are affected by development. The purpose of the course is to equip students with the knowledge and analytical skills needed to do business or manage relationships with development institutions and operate in emerging markets. Topics include the international framework supporting development in emerging markets, the key public institutions such as the World Bank, the International Monetary Fund and the International Finance Corporation which underpin the business environment, financing of development through public institutions by loans, grants and equity investments (alone or with private financial institutions) and international procurement. Also examined will be how the policies of international institutions and emerging markets affect commerce and create, or impede, business opportunities in developing countries and internationally. The course will discuss development, bribery and corruption (such as in the health sector), strategies and impediments to doing business in developing countries and cover controversies on human rights and development and corporate social responsibility. Class discussions, which can be lively due these controversies, cover such issues as whether an international organization should improve the business climate of a developing country if this means driving up poverty in the short to medium term, whether a particular public works project supported by foreign investors should meet international safeguards, was a decision by an multinational corporation to pay bribes to speed up government approvals justified and worth the reputational and financial cost and why does development succeed or fail in different countries.

COMMUNICATING WITH PRESENCE (CWP)
Professor James G. Rice

Theater is heightened communication. Since the beginning of human culture, theater as an art form has been a crucial element in intellectual, emotional, and spiritual cultures worldwide. Theater communicates great ideas and inspires action. The actor is the instrument through which the message of the play is communicated. Therefore, it is the actor’s communication skills—developed through arduous training in use of the voice, body and expressive language—that determine whether the message of the play actually reaches and affects the audience. The task of the actor is to be present, and with that unique ability, to capture the heart, mind, ears and eyes of the audience through galvanizing communication. The leader whose responsibility it is to persuade, inspire and motivate must possess similar abilities. The difference between the two pursuits is that actors dedicate themselves to the acquisition of those skills; leaders all too often do not have that opportunity. This mini-course will be an active examination of what it is that comprises “presence” in communication. It will utilize a practice of certain actor-skills and behaviors to facilitate an ability to walk on the “stage” of everyday academic or business life with a strong communication capacity that projects energy, confidence, clarity of thought, and physical and vocal expressiveness. Each session will build on a progression of physical and vocal techniques incorporated in weekly spoken exercises intended to establish and reinforce the qualities of the leader as an energetic, active communicator.

CONTEMPORARY ISSUES IN BIOTECH (CIB)
Professors Donald P. Conway, Steve Gillis and Michael Zubkoff

As a relatively new field of commercial endeavor, biotechnology has had more impact (perhaps with the notable exception of computer hardware and software) on society than any other business enterprise in the past thirty years. The advent of genetic engineering has revolutionized drug discovery and development, adding tens if not hundreds of novel therapies to physicians’ arsenals for treating and preventing disease. In this mini-course, students will gain an appreciation for the biotechnology industry, its premise and continued promise as well as what is required for biotechnology entrepreneurs in the 21st century to attract investment capital. Areas ripe for investment and development will be explored as will lessons that have been learned over the past three decades that have been witness to the creation of thousands of biotechnology companies and the very way that innovation is supported by the pharmaceutical industry and regulated by worldwide governments.

CORPORATE RESPONSIBILITY (CRSP)
Professor Paul A. Argenti

This mini course 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.

This course meets the Ethics & Social Responsibility (ESR) requirement.

CREDIT RISK (CR)
Professor Richard J. Rendleman

The primary purpose of this mini-course is to explore the pricing and return characteristics of debt and debt-related securities, where the primary source of risk is potential changes in the value of underlying assets or collateral that support the securities (default or credit risk). Specific examples of securities covered in the course include straight, callable and convertible corporate debt instruments, credit derivatives such as credit default swaps, and tranche securities issued in connection with Collateralized Debt Obligations (CDOs), including subprime structures. The course will also explore credit risk analysis, particularly that related to credit ratings, and the historical default and return experience of corporate debt instruments in relation to their credit ratings and other measures of risk. Issues related to valuation and expected security returns will be explored from the standpoints of both issuers of securities and investors.

The course should be of interest to any student who plans to work in the area of fixed income portfolio management, equity portfolio management, commercial banking, corporate treasury, or debt underwriting, including real estate finance.

ENTREPRENEURIAL FINANCE (ENTFN)
Professor Richard R. Townsend

This course is designed to help managers make better investment and financing decisions in entrepreneurial settings. All stages of the process, from startup to harvest will be covered. Many of the cases discussed will concern technology-based businesses, though the emphasis is on gaining insights into entrepreneurial finance, not technology per se. The course addresses key questions that challenge all involved in new ventures: how much money can and should be raised; when should it be raised and from whom; what is a reasonable valuation of the company; and how should funding, employment contracts and exit decisions be structured. In addition, the course includes an analysis of the venture capital industry. The course is aimed at students who are considering a career as an entrepreneur or venture capitalist.

ETHICAL DECISION-MAKING (EDM)
Professor Alexander H. Jordan

Are ethical judgments influenced more by emotion or by reason? Is ethical behavior a product more of the environment or of the individual? How does acquiring power affect people’s moral choices? Why do people resent whistleblowers who uncover wrongdoing in organizations? What leads people to discriminate unfairly? Do integrity tests for employee screening work? Would including an ethical oath in the MBA curriculum increase moral behavior among tomorrow’s business leaders?

These and other questions will be investigated in this discussion-based mini-course. Recent behavioral research has had much to say about the determinants of people’s moral judgments and actions. A primary goal of this course is to familiarize students with this research and to thus increase their awareness of the psychological dynamics governing everyday morality and immorality. Students will learn to identify, analyze, and respond thoughtfully to ethical challenges in professional life, and, through dialogue with their classmates, will learn to recognize moral differences and articulate their own positions coherently and persuasively. Readings will include empirical research in addition to traditional business cases.

This course meets the Ethics & Social Responsibility (ESR) requirement.

ETHICS IN ACTION (ETHAC)
Professor Richard S. Shreve
Professor Aine Donovan

In this mini-course, we will have the opportunity to 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.

This course meets the Ethics & Social Responsibility (ESR) requirement.

EUROPE IN THE GLOBAL ECONOMY (EGE)
Professor Jonathan E. Haskel

This mini-course aims to cover the European Union business and economic environment, to better inform business decision-making. The course is divided into two main parts. Part 1 will be the overall historical and institutional background to the EU (including the history of post-war European development, the rise of EU institutions and subsidiarity). Part 2 will study some particular topics in understanding the business environment: international taxation, EU growth and innovation policy, the competition, immigration and regulation environment and the monetary system.

The entire EU economic and political landscape was, let us use a neutral term, pretty uncertain. Thus the course will attempt to reflect this and ask, in particular, how the EU and business can best react to the crisis. Can, for example, the EU restore competitiveness to grow its way out of the deficit problem? If it cannot, what is stopping it? What regulatory and policy changes have to be made to allow banks and other businesses to prosper? I suspect the readings and discussion topics on the course will be likely to evolve, but we shall try to keep the course orientated in this direction. The allocation of time will be settled nearer the class since we might have to allocate more time, for example, to the financial crisis.

FINANCIAL INSTITUTIONS (FINST)
Professor Dennis E. Logue

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)
Professor Robert A. Howell

FRSA is aimed at those students who are headed toward a career in consulting or general management and believe some additional reinforcement of accounting would be helpful. The perspective is that of an inside manager or consultant interested in using financial statements as a starting point for understanding a firm’s value and creating additional value. FRSA moves a bit more slowly than FSIA to allow some reinforcement of the first year core accounting course FMAR. FRSA will have an individual, take-home mid-term exam and an end-of-term, team-oriented course project. Grades will be based on assignments, classroom participation, mid-term exam, and team report.

FINANCIAL STATEMENT INTERPRETATION AND ANALYSIS (FSIA)
Professor Robert A. Howell

FSIA is aimed at those students with stronger accounting and finance skills (perhaps even a CPA or CFA) and, hopefully, headed toward investment banking, private equity, securities analysis, etc. 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.

RESEARCH TO PRACTICE SEMINAR: FIRMS, COUNTRIES, AND THE FUTURE OF GLOBAL TRADE POLICY (RTPTP)
Professor Emily J. Blanchard

The past seventy years have seen unprecedented expansion in the breadth and depth of economic links across countries. Global supply chains span oceans and continents as never before, just as workers and capital are also increasingly mobile.  Increasing integration of the world economy poses fundamental challenges and opportunities for firms and policy-makers alike.  In this research to practice seminar, we will explore the interplay between firms and public policy through the lens of current research in economics. We will focus on important practical and political issues related to international trade, immigration, and foreign direct investment.

Each week, we will consider a particular policy goal or instrument – e.g. anti-dumping and safeguard duties designed to protect domestic firms from foreign competitors, immigration legislation and special visa provisions like the EB5 program, or foreign direct investment policies and bilateral investment treaties.  For every policy issue, we will focus on identifying both the key interests and the key players in the political process.  While the course will emphasize the role of individual firms and managers in responding to and shaping policies, we will go beyond a simple playbook for how to negotiate the policy world, asking also the broader questions of how policies tradeoff the interests of all constituents, whether or not they have a political voice in the process.

The course is structured around nine once-a-week, three-hour meetings, for which students are expected to be well prepared and actively involved.  Readings will consist of current economics research papers, policy briefs (white papers), and readings from trade and popular media outlets.  Students should expect to prepare a short small group presentation to the rest of the class at least once during the term.  The nature of the final term project will be decided by majority vote at the beginning of the course. While a background in economics is not a prerequisite for the course, the class will rely heavily on (predominantly empirical) papers in the economics literature.  Students should adjust expectations accordingly.

FUTURES AND OPTIONS MARKETS (FOM)
Professor Richard J. Rendleman

This course will provide an introduction to options and futures and the applications of these securities to the management of stock portfolios and of 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 derivatives trading and the role of derivatives markets in our financial system. Although the pricing of derivative securities and the applications of such securities to portfolio and risk management is mathematical by nature, the focus of the course will be on the concepts underlying the formulas. Specific 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; exotic options; option valuation via Monte Carlo simulation; futures and forward markets. The course should be useful to students interested in any field involving financial decision-making.

IMPLEMENTING STRATEGY (IMPST)
Professor Vijay Govindarajan

The central focus of this mini-course is strategy implementation. The importance of the subject matter covered in this course is captured in the widely accepted “truism” that over 90 percent of businesses (as well as nonprofit organizations) founder on the rocks of implementation; either the strategies never come into being or get distorted, or the implementation is much more costly and time consuming than anticipated. However laudable strategic intentions may be, if they do not become a reality, they usually are not worth the paper on which they are written. Conversely, high-performing companies excel at execution. This course will provide you with concepts, frameworks, and tools to help you gain that “execution advantage.”

INTERNATIONAL CORPORATE FINANCE (INTCF)
Professor Rafael LaPorta

In an increasingly globalized world, firms of all sizes now face decisions about how to obtain and deploy resources abroad. Choices about raising capital, making investments, managing risks, making acquisitions and restructuring firms typically involve international considerations. Specific topics discussed in this mini course include: valuation of foreign assets, risk management, global debt and equity financing, financial distress and restructurings, mergers and acquisitions, and comparisons of corporate governance practices around the world.

This mini is intended for students who will be involved in cross-border investment and financing decisions of firms operating abroad, transaction advisors (investment bankers, commercial bankers, or consultants), or investors (research analysts or money managers).

INTERNATIONAL STRATEGY (INTST)
Professor Thomas C. Lawton

This mini-course focuses on the challenges and opportunities facing managers, leaders and entrepreneurs when they engage with customers, competitors and cultures beyond their home market. Through a set of carefully chosen case studies, we consider these challenges and opportunities from the perspective of large and mid-sized companies, newer entrepreneurial ventures and long established transnational corporations, developed economy-based businesses and companies coming from emerging markets. There are three primary objectives of this course. The number one objective is to have an enhanced understanding of a fundamental question in international business and strategic management: What determines the international success and failure of companies? In the global economy of the 21st century, strategies are no longer the exclusive realm of top managers. Mid-level managers and functional specialists – the starting position of many MBA graduates – are increasingly challenged to think strategically and act globally. Therefore, this elective will cultivate your ability to make well-grounded strategy decisions. The second objective is to probe into the workings of business strategies in transition and emerging economies around the globe. Since many Western multinational enterprises (MNEs) are now concentrating disproportionately more resources on these markets, you will be better prepared if you start to pay attention to them now. Finally, this course aims to give you an opportunity to work on a meaningful, applied international business strategy report.

The overall aim of the course is to equip participants with conceptual and analytical skills required to develop and lead the international strategy of a company, business unit or cross-border team. It will take an integrated perspective, designed to answer three simple but crucial questions:
• Where do we go? (Requires an analysis of global industries and markets, institutions and government policies, political risk and competitive landscapes)
• How do we do it? (Necessitates an evaluation and selection of alternative internationalization and market entry strategies and structures and competitive positions, as well as an alignment of customer value propositions)
• What do we do once we are there? (Considers complexities that were unanticipated or underestimated before market entry and the cultural and social challenges managers face in implementing international strategy in different countries).

LEADING THE ENTREPRENEURIAL ORGANIZATION (LEO)
Professor Stephen J. Kahl

Beyond conceiving a new business and financing it, some of the most pressing challenges entrepreneurs face come from the managerial tasks of acquiring and keeping talented people and building and systematizing the new venture and its processes. This course identifies the major leadership and organizational design issues entrepreneurs face when creating and growing their businesses. We will develop concepts and frameworks that help entrepreneurs manage through these issues. Think of this course as the “building and designing the emerging organization” complement to other entrepreneurship classes offered at Tuck. The course consists of three modules:

• Founding Challenges: Where do entrepreneurs come from? When should I become an entrepreneur? What should the founding team look like? How do we work with investors and the board? How do founders shape early organizational systems?
• Building the Organization within the Industry Context: What are the different challenges between creating a new market versus extending an existing one? How do we gain recognition and legitimacy among the important market constituents (analysts, media, customers, etc.)? Where do we locate the new venture? What functions should we perform?
• Designing the new Organization: How do we attract and manage talent? What type of employees should we hire? How we develop an organizational structure and managerial systems while keeping the startup culture?

The course is taught using readings, interactive lectures, cases, guests, and industry-based exercises. The focus of this course is on high growth potential entrepreneurship, for example, high tech ventures, but concepts learned are applicable to other kinds of emerging enterprises. Topics in this course are relevant to future founders of enterprises, future employees of startups, “intrapreneurs” within larger companies, as well as those interested in venture financing as it provides an opportunity to learn about entrepreneurial processes.

RESEARCH TO PRACTICE SEMINAR: M&A, ALLIANCES AND CORPORATE STRATEGY (RTPMA)
Professor Margaret A. Peteraf

This course focuses on mergers and acquisitions as a strategy for expanding internationally. We will take a high-level organizational, managerial, and strategic perspective on this topic, rather than a financial one, leaving the coverage of the transactional and financial aspects to courses in finance. The objective of this course is to help you learn how to assess the value and relevance of research-based knowledge in this domain and to understand the process of our search for answers to the problems facing today’s companies and managers. It is designed to engage you intellectually in this process and to develop your ability to think critically about complex, multi-sided issues for which there are no easy answers.

MANAGEMENT DECK PRESENTATIONS (MDP)
Professor Mary M. Munter

This mini-course targets a key aspect of managerial communication: deck presentation skills—that is, speaking from a seated position with copies of paper decks that the audience can write on and take away with them at the end of the presentation. You will learn both PowerPoint and nonverbal delivery skills that differ dramatically from those used in a stand-up slide presentation. The class will allow you test new skills and to learn best practices. May be taken in conjunction with, or separately from, the Management Slide Presentations course.

MANAGEMENT SLIDE PRESENTATIONS (MSP)
Professor Mary M. Munter

This mini-course builds on the core communication course, advancing your stand-up slide presentation skills—that is, speaking from a standing position with projected slides. You will learn both PowerPoint and nonverbal delivery skills that differ dramatically from those used in a seated deck presentation. The class will allow you test new skills and to learn best practices. May be taken in conjunction with, or separately from Management Deck Presentations.

MANAGERIAL ACCOUNTING (MA)
Professor Richard C. Sansing

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 (ML)
Professor Paul J. Barbadoro

This course is designed to provide students with practical knowledge of legal issues and principles that often arise in the business environment and to arm managers with the ability to spot potential legal problems and minimize their risk to business. The range of course 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 TALENT FOR SUPERIOR PERFORMANCE (MTSP)
Professor Margaret Mulley

The ability to hire, motivate, lead and develop other people while effectively managing your own personal career development is critical for superior performance. Technical skills are necessary but not sufficient for sustained success. This is true across the range of organizations, public and private sector, start-up through large multinationals. People can be the most valuable assets of an organization but may be the most challenging to manage in order to achieve and sustain competitive advantage. While Human Resource departments set policy, determine and administer benefits, compensation and other programs, much of the most important human resource work is done outside of HR. So how individuals perform the important tasks of hiring, onboarding, managing performance, developing others and leading their teams is crucial to business and individual success.
This mini-course will focus on strategies, policies, practices and leadership that are essential to build and grow organizations and individuals and will focus on four key areas:
• Recruiting talent needed to support business strategy and organizational leadership
• Effective onboarding processes that enable new employees achieve high levels of performance
• Effective performance management
• Voluntary and involuntary turnover

MANAGING THE MARKETING CHANNEL (MMC)
Professor Kusum L. Ailawadi

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 very 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! The objective of this course is to help students understand the complexities involved in managing the channel and provide some frameworks that can be used to deal with these complexities. The first half of the course focuses on channel design and coordination. We will cover topics such as designing the channel structure, choosing channel members, managing the inevitable conflict in multiple channels, particular online and offline, and developing marketing strategies and incentives to coordinate the channel. Channel coordination, loosely speaking, refers to the 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, the two guest speakers in the course will cover both the manufacturer and the retailer perspective.

MARKETING IN THE NETWORK ECONOMY (IMKTG)
Professor John F. Marshall

This mini-course looks at the significant evolution of marketing function in the context of the network economy. Attention focuses on the challenges and opportunities that organizations face in applying traditional marketing skills in the electronic marketplace. Guest speakers and case studies will be used to illustrate the key issues in developing effective marketing and media strategies. The major objectives of this course are to provide students with (1) an understanding of the role of marketing in the context of the network economy; (2) a sound conceptual and theoretical “tool kit” for analyzing marketing problems faced by organizations in the network economy; and (3) a forum for presenting and defending their recommendations and for critically examining and discussing the recommendations of others.

MARKETING RESEARCH (MR)
Professor Robert P. Rooderkerk

This course is designed to expose students to the scope of marketing research and to the most frequently used 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, and conjoint analysis. The course uses readings, case studies, and hands-on business projects.

MANAGEMENT OF HEALTHCARE ORGANIZATIONS (MHCO)
Professor Paul B. Gardent

This mini-course is appropriate for students who are interested in careers in health services management or who will be working in companies serving healthcare service organizations including consulting, banking, and medical supply companies. Enrolling students should have some background in the healthcare industry or have taken Structure, Organization and Economics of the Healthcare Industry (SOE).

The health services industry is a large and dynamic sector of the economy with many unique characteristics. It includes hospitals, health systems, ambulatory clinics, medical group practices and other organizations providing healthcare services. Successful healthcare 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 (e.g. consultants, bankers, medical supply companies) must understand the strategic and financial issues facing leaders of healthcare organizations in order to successfully compete in this market. Among these issues are the unique character of organizational relationships, the dynamics of the healthcare 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 will cover important functions of health services management, including strategy, finance, and operations. It will introduce students to leadership issues in performance improvement, change management, organizational leadership and strategic alliances.

RESEARCH TO PRACTICE SEMINAR: MANAGEMENT OF INVESTMENT PORTFOLIOS (RTPIP)
Professor Richard J. Rogalski

This course will study the primary decisions made by those who manage large investment portfolios such as pension funds, endowments, foundations and family offices. Consideration will be given to the perspective of different types of investors that varies along such dimensions as risk preference, investment horizon, tolerance for liquidity, tax status, social objectives, etc. The emphasis of the course will be strategic and tactical asset allocation in investment portfolios, specific asset and manager selection issues and the measurement of investment performance. The course covers how the industry is organized, how managerial skill is assessed, how compensation is determined, and how economic rents are shared by managers and investors. More specifically, we will consider the tradeoffs between seeking diversification to control risks, and making concentrated bets; tradeoffs between passive investment and active investment; distinctions between investing as principals and delegating to managers; the importance of liquidity in driving the pricing, risk and expected returns to various asset classes; and the importance of pricing and tax considerations in setting asset allocation, selecting investment managers and monitoring performance. To reinforce the research aspect of the course students will be required to lead class discussions of assigned research articles and effectively handle the resulting Q&A. To reinforce the practical aspect of the course students will be required to critically engage class visitors.

MANAGEMENT OF SERVICE OPERATIONS (SOPS)
Professor Robert A. Shumsky

In this mini-course we will develop both quantitative tools and qualitative models that will help us to manage service operations. The class focuses on four topics: (i) the operations/marketing interface, (ii) managing variability in services, (iii) demand and revenue management, and (iv) service quality improvement. The first two topics run throughout the course. For topic (i), we will focus on the importance of aligning the design and management of services with the marketing strategy of the firm. For (ii), we will see that service firms experience the types of variability seen in manufacturing (variability in customer demand and service times), but are also faced with sources of variability that are unique to services, including customers’ expectations, subjective preferences, and their willingness or ability to participate in elements of the service process. This makes the management of variability particularly challenging, and important, in services. Concepts and tools in the course will be applied to examples from health care, retail, car rental firms, airlines, and others.

NEGOTIATIONS (NEGO)
Professor Judith B. White

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 inductively - they 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.

RESEARCH TO PRACTICE SEMINAR: PRIVATE EQUITY (RTPPE)
Professor Richard R. Townsend

In this course we will review theory and evidence from academic research on private equity, including both venture capital and buyout. Questions that will be examine include: why professional private equity exists, what private equity managers do with their portfolio companies, what returns they earn, who earns more and why, what determines the design of contracts signed between private equity managers and their portfolio companies as well as private equity managers and limited partners, and how/whether these contractual designs affect outcomes. The course will highlight the importance of private ownership, information asymmetry and the illiquidity associated with it, as a key explanatory factor of what makes private equity different from other asset classes.

PROFESSIONAL DECISION MODELING (PDM)
Professor Peter J. Regan

This mini-course extends core Decision Science with a series of weekly case assignments using Excel and Risk Solver. The first case introduces students to decision tree analysis with a pharmaceutical R&D project evaluation example. The second case builds a structured finance cash flow waterfall to generate insight into mortgage asset securitization risk. The third case examines professional service firm structure and financial performance. The fourth assignment evaluates adding hydropower generation to an existing dam. Students work in teams (but with intermediate, individual deliverables) to design and build spreadsheet models, analyze results, and advise management. In 2013, the third or fourth case may be replaced by a new investment banking case about London commercial real estate under development with a Tuck (and PDM) alum who is tentatively scheduled to come to campus as a course guest.

SOCIAL MARKETING (SMKT)
Professor Punam A. Keller

This mini-course is designed to promote the use of social marketing in for-profit businesses and nonprofit organizations. Social marketing is the application of commercial marketing frameworks and techniques to promote individual and collective well-being. This course is offered in the spirit of taking responsibility for ourselves as well as caring for those around us. As such it includes but goes beyond nonprofit marketing, where the main aim is to utilize the organization’s services, public sector marketing, where the main goal maybe to increase use of services such as public transportation, and cause marketing designed to focus efforts on awareness for social issues such as global warming. Social marketing expertise is integral in for-profit businesses, for managers who hold positions in corporate social responsibility, corporate philanthropy, marketing, or community relations. Nonprofit and foundation business managers and board members should, but do not always have the expertise to use social marketing to achieve their mission. It is in our best interest that these programs succeed from the point of view of professional managers who work in non-profit organizations as well as recipients of programs on better nutrition, environment protection, and literacy among others. Finally, social marketing knowledge can be used by general and marketing management consultants who offer services to for-profit businesses and non-profit organizations who are engaged in social marketing campaigns such as advertising agencies, public relation firms, and marketing research firms.

This course meets the Ethics & Social Responsibility (ESR) requirement.

STRATEGIC PRINCIPLES FOR INTERNET BUSINESSES (SPIB)
Professor Constance E. Helfat

This mini-course focuses on critical strategic principles that are important for understanding and managing Internet businesses. The strategic principles examined in this course apply to a range of businesses, but are especially important for businesses that offer products and services via the Internet. Topics include two-sided and multi-sided platforms, network externalities, and social networks. Because this is a course about strategic principles, we will devote a portion of each class session to discussion of the conceptual readings and frameworks. In addition, this is a discussion-based class, and students may be asked to help lead class discussions.

STRUCTURE, ORGANIZATION AND ECONOMICS OF THE HEALTHCARE INDUSTRY (SOE)
Professors Donald P. Conway, Paul B. Gardent and Michael Zubkoff

Health care is a major area of interest for business leaders today and in the future. Health care represents the largest sector of the U.S. economy with health care spending now at 16% of the gross domestic product and projected to be at 20% by 2015. Health care organizations, and corporations serving those organizations, are a major business sector offering significant career opportunities in management. Biotech research and development is one of the most dynamic areas of entrepreneurial and small business activity. Health care represents a major focus for investment banking and consulting. Health care benefits and financing are major issues of concern for all U.S. businesses. This course is designed to provide business leaders with a fundamental understanding of the health care industry and critical issues in health care today. It will provide an industry-wide view from the differing perspectives within the health care value chain, including providers, suppliers, payers and consumers. The course will examine the unique market dynamics among these players. It will introduce students to the structure, organization and financing of health care in relationship to business and the economy. This course is appropriate for students who are contemplating careers in companies serving the health care industry such as consulting, private equity or banking, or who have an interest in careers in health care (pharma, medical devices, biotech, or health delivery).

STRUCTURING MERGERS & ACQUISITIONS (SMA)
Professor Karin S. Thorburn

This is a mini-course on corporate mergers and acquisitions (M&A). Students will develop skills necessary to structure a deal or form an opinion about a proposed transaction. Topics include value creation in mergers; choice of payment method; valuation of contingent payments; deal protection devices; incentive effects of deal financing; merger arbitrage; bidding strategies; hostile takeovers; and defensive tactics. We also cover key elements of the legal and regulatory framework for takeovers, such as filing requirements, fiduciary duties of the target board of directors, and antitrust regulation. The course is primarily based on case analysis, providing ample opportunity to perform merger analysis and practice various corporate valuation techniques.

TAXATION AND BUSINESS POLICY (TBP)
Professor Gil B. Manzon Jr.

The objective of this course is to help students develop an understanding of the key underlying concepts that pervade the many specific provisions of the tax law and how income tax considerations interact with non-tax considerations in a series of business decisions. Topics discussed include compensation planning, the organization form decision, taxation of earnings of domestic and foreign affiliates, corporate distributions, mergers and acquisitions, and corporate spinoffs.

VBA PROGRAMMING (VBAP)
Professors Kenneth R. Baker and Robert A. Burnham

A decision support system (DSS) is designed to provide organizations and individuals with informative analyses that enhance decision making. When a DSS is implemented in Excel, Visual Basic for Applications (VBA) can make the DSS operate efficiently by automating interactive and computational 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 customizing its use. This mini-course covers the basic skills needed to build spreadsheet-based decision support systems.