Spring Term 2012

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 & ETHICS AT THE BASE OF 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 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 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 OF INTERNATIONAL DEVELOPMENT (BID)

Professor Andrew Vorkink

This mini-course will examine major issues involved with international development in emerging markets 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 their counterpart entities operating in emerging markets. Topics include the international framework supporting development, the key public institutions such as the World Bank, the International Monetary Fund and the International Finance Corporation, 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 affect commerce and create, or impede, business opportunities in developing countries and internationally. The course will discuss development and corruption, impediments to doing business in developing countries and cover controversies on human rights and development, whose labor standards should apply to foreign investors and the tradeoffs between the environment and development. Discussion will also cover when development investments go bad, including conflict resolution.

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.

DOING BUSINESS IN ARAB GULF STATES (DBAGS)

Professor Diederik Vandewalle

This mini-course provides students with an introduction to the business, financial, legal, cultural and social world of the Arab Gulf states (the United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman), a major oil-exporting and fast-growing area within the world economy. The course is meant to provide the necessary background as well as an introduction to a variety of practical issues that foreign executives and managers will likely encounter while working within the Arab Gulf. The Gulf countries, for example, represent a set of fast-growing emerging economies that have substantial assets in Sovereign Wealth Funds but are also marked by unique political configurations that make regulation and management strategies unique.

The course has a dual focus. The first is to provide students with the knowledge necessary to understand and function effectively within the different business systems of the area. The second is to make clear and help 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; how to understand the scope and role of Islamic finance; and how to comprehend the dilemmas and strategies in dealing with the large presence of expatriate labor.

In order to anchor the readings and discussions within a real life perspective, guest speakers who either 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 IN THE SOCIAL SECTOR 1 (ESS1)

Professor John H. Vogel

There has been a worldwide explosion of entrepreneurial activities by organizations whose primary focus is on improving the health, education, and well being of individuals and communities. Most of this activity has been undertaken by nongovernmental organizations (NGOs) or nonprofit organizations, which in the United States generate revenues greater than the gross domestic product of Brazil, Russia or Australia. In recent years, some entrepreneurs working in the social sector have chosen to incorporate as for profit organizations rather than nonprofit organizations. Both models will be considered in this course though the vast majority of cases will be about nonprofit organizations like Habitat for Humanity and City Year. This mini-course will focus on the tools and skills required to launch or grow a successful enterprise in the social sector. Because of the nature of the funding in this sector, all but the largest organizations rely on an entrepreneurial style of management. During this course students will meet outstanding social entrepreneurs who have succeeded in creating sustainable enterprises that combat important social problems. This course meets the Ethics & Social Responsibility (ESR) requirement.

ENTREPRENEURSHIP IN THE SOCIAL SECTOR 2 (ESS1)

Professor John H. Vogel

Please note: ESS1 is a pre-requisite for this class.

This mini-course is a continuation of Entrepreneurship in the Social Sector I and as such, ESSI is a prerequisite. It enables students to deepen their knowledge of this sector. Teams of students work on projects sponsored by nonprofit or social enterprise organizations. In addition to an intellectually challenging project, students enjoy the opportunity to help a worthy organization. This course meets the Ethics & Social Responsibility (ESR) requirement.

RESEARCH TO PRACTICE SEMINAR—ECONOMICS OF THE CREDIT CRISIS (RTPCC)

Professors Manuel Adelino and Robert G. Hansen

In this seminar, we will take a deep dive into what started as the most serious financial panic of our lifetime and has evolved into a global economic and financial crisis. In the first part of our course we will discuss the beginnings of the crisis, with an emphasis on the subprime mortgage market, the practices of securitization and the impact of those on the financial system. In the second part of our course we will consider how the crisis spread to the rest of the globe and will cover the real economic effects of the financial crisis, especially in regard to the transmission channels of financial crises to economic downturns.

At the end of the seminar, we expect students to have a strong theory- and evidence-based understanding of the facts of the 2007-10 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 your performance in the discussion, but there will be a requirement for a short presentation on some aspect of what you have learned.

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 Aine Donovan and Professor Richard S. Shreve

In this brief 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.

FAMILY BUSINESS MANAGEMENT (FBM)

Professor Nelly Trevinyo Rodriguez

Generally thought of as "mom and pop stores" with nepotistic practices and a lack of professionalism, family firms—their complex management and operation—have been generally neglected from academic courses. Nonetheless, due to a transitional period entrepreneurs pertaining to the baby boomers group are facing—within the next 10 years 45% will face succession challenges in their firms—and considering that the current/future involvement (or disinterest) of their siblings in their companies will change not only the governance structure and status quo, but also the ownership and management configuration up-to-date, more attention is being given to this topic. In addition, if we consider that family owned and family-controlled firms represent 50 to 90% of the GDP in all free market economies, being therefore important for economic growth as well as for employment creation and maintenance, and that at least 40% of the publicly traded firms pertaining to the S&P 100 Index, are family controlled or remain under family influence, we could see why this subject is of high significance both for "mom and pop stores" and for big, publicly traded corporations such as Ford, Dupont, Johnson & Johnson, H.J. Heinz Company, Pfizer, Walt Disney or Walmart.

This mini-course examines the business and family dynamics—and their complex interaction—found in family owned and/or controlled firms, analyzing their managerial, strategic, and behavioral conditions and effects. The central question we explore is: How can we improve our understanding of the family business decision making processes by paying close attention to the family and business complex dynamics and interactions?

FBM is intended to provide the student with a combination of both, theory and practice, improving therefore his/her ability to analyze perspectives, diagnose potential family and business conflict origins, critically evaluate individual and collective (family) attitudes, behaviors and actions, promote positive interactions within the family or business governance structures, evaluate family business competitive advantages and disadvantages, and provide factual solutions to specific family business challenges (cases).

Since dealing with family firms involve an ample set of interdisciplinary skills from business and economics to sociology and psychology, course topics will include (among others): family and business dynamics, succession and continuity in family businesses, next generation members' training, selection process and involvement, family and business governance structures, family conflict management, family constitution development, and wealth management over generations.

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 mini-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 & STATEMENT ANALYSIS (FRSA)

Professor Robert A. Howell

FRSA is a course aimed at those students who are headed toward a career in consulting or are interested in active investing and believe some additional reinforcement of accounting would be helpful. The perspective is that of an outside investor interested in using financial statements as a starting point for understanding firm 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 & ANALYSIS (FSIA)

Professor Robert A. Howell

FSIA is a course 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 eight 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.

UTURES AND OPTIONS MARKETS (FOM)

Professor Manuel Adelino

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 1) the role of derivatives markets in our financial system, 2) derivatives trading, and 3) some of the 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, 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 La Porta

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 the 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. 

The course 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).

RESEARCH TO PRACTICE SEMINAR—M&A, ALLIANCES & 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 targets a key aspect of managerial communication: 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 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 course takes an analytical approach to the study of the 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 strategies for e-commerce. 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.

RESEARCH TO PRACTICE SEMINAR—MANAGEMENT OF MULTIDISCIPLINARY TEAMS (RTPMT)

Professor Judith B. White

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. 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.

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 three topics: (i) the operations/marketing interface, (ii) managing variability in services, and (iii) service quality improvement. 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. Specific tools used in the course will include capacity analysis (e.g., bottleneck identification), discrete event simulation, concepts from Lean/Toyota Production System, as well as services marketing analysis. The tools will be applied to examples from health care, financial services, retail, airlines, and other services.

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 & Economics of the Healthcare Industry (SHCI). Contact Professor Gardent with questions relating to the course or individual eligibility.

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.

NEGOTIATIONS (NEGO)

Professor David F. Sally

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—ORGANIZATIONAL ALIGNMENT (RTPOA)

Professor William F. Joyce

Each student in this small seminar will develop a practical and personally usable model of organizational design and alignment. We will begin by consolidating your thinking on this topic from previous courses in organizational behavior and strategy, as well as from learning in other related courses. We will then focus on further refining and testing your ideas through exploration of the relevant research in this area. Each student will leave the course with both a practical, usable model of design and alignment, as well as the ability to continuously improve this model based upon experience and leading-edge research findings.

We will examine alignment at several levels of analysis. Organizational science draws from a number of disciplines. Micro organizational behavior has its roots in industrial and social psychology, whereas Macro organizational behavior draws from sociology and economics. The defining characteristic of organizational science is combining variables from multiple levels of analysis to predict and control outcomes of interest. Prototypical alignment problems include how the characteristics of jobs and individual differences interact to affect motivation, how organizational structure and reward systems impact individual and group job performance, and how business environments interact with organization design to determine firm performance. All of these critical questions are fundamentally questions of alignment or fit among variables from differing levels of analysis.

Theory is useful, but access to this usefulness is a skill that must be developed. It is difficult to understand how to apply theory without also understanding how theory is developed. Thus, a significant component of this course addresses the student's ability to evaluate, to apply, and potentially develop scientific research concerning organizations.

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.

RETAIL PRICING STRATEGIES & TACTICS (RPST)

Professor Praveen K. Kopalle

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) analyses. Pricing theory is then linked to the practice of pricing via the various consulting engagements of the professor across many companies in the retailing and business to business industries. It deals with various levels of competition with differentiated and undifferentiated products and concentrates on pricing structure through time, across a product line, and over customer segments.

REVENUE MANAGEMENT (RMGMT)

Professor Kalyan Talluri

The main theme of the mini-course can be called "operational" pricing—the use of models, software and algorithms to set prices for products and services. The class will concentrate primarily on posted-price settings and on situations where prices have to be set frequently and for a large number of items, manipulating huge amounts of data. This is feasible only through automation, necessitating model and algorithm development. Prototypical industries where such automation is used are fashion retail, hospitality (hotels, cruise lines), transportation (airlines), e-commerce, events/sports ticket sales and some B2B situations. Although no specific background is assumed, the material uses theory and techniques from Economics, Operations Research, Marketing and Computer Science.

The course will consist of two main parts: (i) Design and Strategy and (ii) Implementation and Tactics.

The first part is about customizing the price of the same product or service to different segments (otherwise known as price discrimination). We will spend one class on price discrimination theory and nearly two lectures on the design of price discrimination products - the creation of multiple priced versions of the same product to maximize revenue - discussing various industry applications.

The second part is devoted to tactical issues on operationalizing the concepts we learned in the first part. It will develop implementable optimization models and statistical methods to set prices under uncertainty (called revenue/yield management). This part will look at the data issues and also discuss actual implementation cases from various industries.

The course is complementary to Prof. Kopalle's Retail Pricing Strategy and Tactics class; the emphasis of this class is on operational management and control of pricing via product design, models, systems and algorithms.

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.

STRATEGY IN A TURBULENT ENVIRONMENT (STURB)

Professor Alva H. Taylor

Change has become the norm in today's business environments. As such business strategies must be dynamic and address the need to be developed under situations of high uncertainty. Business change can be driven by technology, demographics, new innovations, financial shifts, governmental intervention, or unforeseen crises. Firms must thrive in environments where the basis of competition is changing rapidly. Competing on knowledge is critical as firms must compete on their ability to create and profit from new ideas, and require them to be able to adapt quickly to new conditions. In this course, we will begin to explore how successful managers can meet these challenges, and incorporate the ability to anticipate and respond to change into their business models and strategies successfully. Students will have the opportunity to explore these ideas in situations ranging from biotech firms to international banks to nightclubs. In this class, students will also have the opportunity to conduct a group project that explores in detail, issues concerning strategic action in turbulent situations.

STRUCTURE, ORGANIZATION, AND ECONOMICS IN THE HEALTHCARE INDUSTRY (SHCI)

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 & BUSINESS POLICY (TBP)

Professor Gil B. Manzon

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.

RESEARCH TO PRACTICE SEMINAR—TIME IN THE CONSUMER MIND (RTPCO)

Professor Eleanor J. Kyung

Time is a critical factor that affects consumer decision-making, and while it typically treated as an objective function in quantitative models, it is experienced quite subjectively by the human mind.

In this seminar, we will examine the psychology of how human beings experience time and the effect that the malleability of time perception has on a range of important consumer decision-making issues. Some of the topics explored will include:

• How does the subjective nature of how consumers experience time affect the discount rates they employ when weighing options in the future versus the present?
• How can viewing time in different units (days versus months versus years) affect how consumers budget their expenses, decide how much to consume, or how they frame their consumption options?
• How do pricing schemes that vary in frequency of payment over time affect how much people will consume of a product or service?
• If "time is money," do people view time as a resource in the same way they view money as a resource?

This seminar is an extension of the topics briefly explored in the "Consumer Decision Making" session of the Marketing core. Through student-led discussions, we will explore these topics by reading academic research papers in consumer psychology from journals such as Journal of Consumer Research, Journal of Marketing Research, and Psychological Science. The course will focus not only on how to bring a consumer psychology perspective to important customer-related issues, but also on how to formulate testable hypothesis which can be explored through experimentation in practice.

VBA PROGRAMMING (VBAP)

Professors Kenneth Baker and Robert 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.