MGMT610 - Foundations of Teamwork and Leadership
At every level of an organization, teamwork and leadership are required for organizational success. Teamwork and leadership have always been critical to society, but they have acquired new significance in recent years during this era of heightened uncertainty, restructuring, and change. The tenor of leadership has changed as well. Many organizations are flattening their hierarchies and building work teams, with "command and control" leadership giving way to facilitation and empowerment. Format: This course focuses on developing your knowledge and skill set for teamwork and leadership. This course ismeant to be an intense immersion experience that draws strongly on the pedagogyof the "Wharton Teamwork and Leadership Simulation," a team-based, highly interactive, simulation that was designed specifically to allow you to experience the core concepts you will learn in this class. The simulation is based on research evidence and on specific business cases and outcomes. The simulation is strongly interwoven with your classroom experience and cutting edge and theory to give you a rich understanding of teamwork and leadership principles.
MGMT611 - Managing Established Enterprises
The management of large, established enterprises creates a range of multi-facet challenges for the general manager. A general manager needs to understand the internal workings of a firm, how to assess and create a strategy,an how to take into account increasing, globalization. While these issues are distinct, they are very much intertwined. As a result, this course will provide you with an integrated view of these challenges and show you that successful management in the 21st century requires a combination of insights drawn from economics, sociology, psychology and political economy.
MGMT612 - Management of Emerging Enterprises
The management of emerging enterprises - new, small, entrepreneurial organizations - creates a range of multi-faceted challenges for the entrepreneur, whether the founder (and founding team) or the first generation of management. Establishing an emerging organization's unique business model or value proposition (not to mention its survival) is often the overriding preoccupation, but even in a new, small organization, managers need to under- stand how to develop the internal workings of a new firm, how to assess and create a strategy, and how to take into account ever-increasing globalization. While these issues are distinct, they are very much intertwined. As a result, this course will provide you with an integrated view of these challenges and show you that successful management in the 21st century requires a combination of insights drawn from economics, sociology, psychology and political economy. The course has three main parts. The first major part of the course will deal with fundamental issues of strategy, examining issues central to the long- and short-term competitive position of an enterprise. The second part of the course stresses the fact that organizational life is built around a complex interplay of social forces. We will study how to develop and implement organizational designs and human resource systems that achieve competitive
advantage through the management of people. The third part of the course stresses the deep and persistent cross-national differences in economic, political and social institutions that affect the strategy, social structure, performance and value of organizations. The course culminates in the Wharton Global Summit when we examine the general management challenges posed by a current crisis (e.g., Euro 2013?) or in a rapidly growing frontier market (e.g., Imbalances in China).
MGMT613 - Career Planning
MGMT621 - Management of People at Work
Organizational life is built around a complex interplay of social forces. Networks of cooperation, group conflicts, systems of power and influence, career paths, and reward systems shape how people and organizations manage and are manageed. The purpose of this course is to provide a framework for analyzing the impact of these social forces on individuals, groups, and the organization. MGMT621 will introduce you to general theories of organizational behavior and human resource management, and their application to specific managerial problems. The concepts covered in this course will help you better understand how to motivate and lead those you manage, as well as better understanding your own motivation and performance at work. Managerialand professional careers involve frequent changes in responsibilities, so the course provides concepts for analyzing how managerial approaches may vary in different organizational and industry settings. We will discuss, based on these analyses, how to develop and implement organizational designs and human resource systems that achieve competitive advantage through the management of people.
MGMT623 - High Performance Work Systems
MGMT625 - Corporate Governance, Executive Compensation and the Board
This course studies the relationship between the firm and its owners. Managing owners and other external stakeholders is a core part of senior leaders' job. On the other side, the firm's owners need to be able to effectively control the behavior of management if they are to protect their investments. This course aims to train students to deal with corporate governance issues from both sides of the table. Specifically, the goals of the course are to: "Prepare students for leadership roles in firms as entrepreneurs, CEOs or senior managers. We will learn about the core issues that leaders face in managing investors and other stakeholders, and the strategies that they can pursue to manage them." "Prepare students to manage investments in companies in Venture Capital, Private Equity or investment funds. Success in these professions requires being able to manage your relationship with the companies that you have invested in. We will learn the tools that are available to investors to run companies, and the problems that they can face." "Educate students in the responsibilities they may face as directors of companies, and how they can be effective in these roles." "Give students an overview o f how business activities fit into broader society, by discussing who should control the firm, and the goals they should pursue."
MGMT652 - Foundations of Teamwork and Leadership
At every level of an organizational, teamwork and leadership are required for organizational success. Teamwork and leadership have always been critical to society, but they have acquired new significance in recent years during this era of heightened uncertainty, restructuring, and change. The tenor of leadership has changed as well. Many organizations are flattening their hierarchies and building work teams, with "command and control" leadership giving way to facilitation and empowerment. Format: This course focuses on developing your knowledge and skill set for teamwork and leadership. This course is meant to be an intense immersion experience that draws strongly on the pedagogy of the "Wharton Teamwork and Leadership Simulation," a team-based, high interactive, simulation that was designed specifically to allow you to experience the core concepts you will learn in class. The simulation is based on research evidence and on specific business cases and outcomes. The simulation is strongly interwoven with your classroom experience and cutting edge research and theory to give you a rich understanding of teamwork and leadership principles.
The course focuses on developing your knowledge and skill set for teamwork and leadership. This course is meant to be an intense immersion experience that draws strongly on the pedagogy of the "Wharton Teamwork and Leadership Simulation," a team-based, highly interactive, simulation that was designed specifically to allow you to experience the core concepts you will learn in this class. The simulation is based on research evidence and on specific business cases and outcomes.
MGMT653 - Field Application Project
The course is unique since there are no classroom meetings, all meetings are held in the professor's office in small groups of 4-6. Student teams work with faculty and host managers to construct innovative solutions to real-time issues. Solutions are integrative and cross-functional in nature. The course encourages creative thinking and uses cutting-edge ideas like game theory, measuring changes to brand equity, and non-market cap equity indexing. An emphasis is placed on teaching students how to frame unstructured business so as to convince others. Some projects are with non-profits, particularly those in microfinancing and the arts.
Format: Teams (4-6 members) meet with faculty on a weekly basis (30-45 minutes). There will also be 3-5 meetings with host managers. In addition to meeting with their Faculty Head, students are given access to "area of expertise" faculty. These faculty members are chosen based on their prime research areas.Students are given access to the most up-to-date models and information.
Requirements: Weekly team meetings with faculty project head and a final PowerPoint report and presentation.
MGMT654 - Competitive Strategy
This course focuses on the competitive strategy of the firm, examining issues central to its long- and short-term competitive position. The course develops a set of analytical frameworks that enable students to explain performance differences among firms and that provide a structure for strategic decisions to enhance firms' future competitive positions. The first module of the course analyzes strategy at the business unit level, introducing tools of industry analysis and competitive positioning. The later part of the course considers corporate strategy, examining the economic logic for firms to diversify across businesses and for vertical integration decisions across stages of the industry value chain.
MGMT655 - Global Strategic Management
This course is designed to immerse you in the challenges faced by managers venturing into overseas markets in response to -or in anticipation of- increased global competition. Through a combination of case analysis, readings and class discussions, you will develop the ability to pursue managerial action that is responsive to the evolving global business environment, and to the demands of multiple stakeholders such as local and overseas customers, joint venture partners, and governmental organizations. We will examine the key activities undertaken by managers to evaluate new market opportunities, develop market entry strategies, and effectively manage expansion in international markets.
MGMT656 - Global Immersion Program
The Global Immersion Program is a pass/fail, 0.5 credit course that is designed to provide students with an in-depth exposure to international business practices and first-hand insights into a foreign culture. In past years, programs were offered in India, the Middle East, China, South America, Southeast, Asia, and Africa. The program offers studentsthe opportunity to learn about a foreign business environment by way of academic lectures and a multi-week study tour, allowing students to visit with corporate and government officials, network with alumni, and take cultural excursions.
MGMT671 - Executive Leadership ( Course Syllabus - 2011A)
Leaders mobilize resources toward valued goals. In this course -- based on Prof. Stew Friedman's bestselling book, Total Leadership: Be a Better Leader, Have a Richer Life -- the focus is on growing the student's capacity as a leader in all parts of life. The purpose is to learn practical and customized lessons about how to improve performance and results at work, at home, in the community, and in the private self (mind, body, spirit) by finding mutual value among these four domains. The core idea is that leadership is about making a difference in all aspects of one's life; this course offers students the opportunity to practice the skills needed to do so, now and in the future. Students learn and apply key leadership principles and actively explore what it means for them to be real (to act with authenticity by clarifying what's important), to be whole (to act with integrity by respecting the whole person), and to be innovative (to act with creativity by experimenting with how things get done). Please visit www.totalleadership.org to learn more.
Other Information: Registration: This course is only available to second-year MBA students. The first step in the registration process for it is to apply for admission by writing a response to the email Prof. Friedman sends in the Fall term to all second-year MBA students. This course is not included in the MBA Course Auction.
MGMT690 - Managerial Decision Making
There has been increasing interest in recent years as to how managers make decisions when there is uncertainty regarding the value or likelihood of final outcomes. What type of information do they collect? How do they process the data? What factors influence the decisions? This course will address these issues. By understanding managerial decision processes we may be better able to prescribe ways of improving managerial behavior. Building on recent work in cognitive psychology, students will gain an understanding of the simplified rules of thumb and apparent systematic biases that individuals utilize in making judgments and choices under uncertainty. At the end of the course, students should understand the decision making process more thoroughly and be in a position to become a better manager.
MGMT691 - Negotiations
This course examines the art and science of negotiation. This course develops managerial skills by combining lectures with practice, using exercises where students negotiate with each other. Over the course of the semester, students will engage in a number of simulated negotiations ranging from simple one issue transactions to multi-party joint ventures. Through these exercises and associated readings, students explore the basic theoretical models of bargaining and have an opportunity to test and improve their negotiation skills. Cross-listed with LGST 806/OPIM 691.
MGMT692 - Advanced Negotiation.
See description in OPIM 692. Cross-listed with LGST 692/OPIM 692.
MGMT701 - Strategy and Competitive Advantage
This course is concerned with strategy issues at the business unit level. Its focus is on the question of how firms can create and sustain a competitive advantage. A central part of the course deals with concepts that have been developed around the notions of complementarities and fit. Other topics covered in the course include the creation of competitive advantage through commitment, competitor analysis, different organizational responses to environmental changes, real options, modularity, and increasing returns. An important feature of the course is a term-length project in which groups of students work on firm analyses that require the application of the course concepts.
MGMT711 - Competitive Strategy and Industrial Structure
This is a course in analyzing competitive interactions. The course emphasizes a vision of strategy in which each competitor simultaneously chooses its strategy, taking into account the strategies of its opponents. Crucial to this vision is the anticipation of the moves of your opponent and, in particular, the expectation that your opponent is (almost) as smart as you are. Equal attention will be given to the development of techniques for analyzing competitive interactions and to the application of those techniques. Game theory and the economics of industrial organization provide the basis for the theoretical constructs developed in the course. Topics that will be explored include: market failures and profitability, competitive bidding, signaling, entry deterrence, agenda setting, regulations, and price wars.
MGMT712 - Managing Interfirm Alliances
This course explores the management of strategic partnerships between firms, which have surged in recent years in response to globalization, technological evolution, deregulation, shortened product life cycles, and intensified competition. Today's alliances drive corporate growth and change, and vary greatly in terms of partner type, commitment, equity investment, degree of control, between scale, and scope. They range from bilateral arrangements to ecosystems to outsourcing, often blurring traditional organizational boundaries and leading to the creation of globally distributed enterprises. In view of these contemporary developments, the objectives of the course are two-fold: (1) to arm you with a set of tools to facilitate the selection of an appropriate alliance strategy in a given situation; and, (2) to provide you with frameworks to help the initiate and implement different kinds of partnerships. The emphasis lies on strategic and organizational aspects in the formation and management of these transactions, rather than financial considerations. Alternative growth strategies to strategic alliances (e.g., acquisitions), the impact of these partnerships on competition within an industry, and regulatory constraints will also be discussed.
In terms of its pedagogical approach, this is designed to be an interactive, applied, case-based course with accompanying conceptual readings to help structure your thinking. Given the nature of the course, we will also apply the lessons from the cases to understand the challenges and implications of relevant recent and on-going deals. In addition, guest speakers with experience in investment banking, consulting, and industry will be invited to share their perspectives. A group project is intended to give you the opportunity to apply your learning from the course to a context that is most interesting and relevant to you.
MGMT714 - American Business History
This course examines how the kind of firms in which most Wharton students will spend the next stage of their careers came to be as they are today. At a superficial level, the course's objectives are descriptive and narrative. Its deeper purpose is to give students some idea of how to think about the future evolution of firms and industries. The course will discuss the historical development of the business enterprise as an institution. It will also cover the evolution of competition and strategy and of corporate finance. The focus will be on American developments, since many of the innovations took place here; but there is scope for comparison with institutions in Japan and the leading European economies if there is student interest. The course considers issues arising in a number of different management disciplines and shows off their interrelationships.
Prerequisites: This course has no pre-requisites.
MGMT715 - Political Environment of the Multinational Firm
Successful practitioners of corporate diplomacy meld art and skill in engaging external stakeholders to advance their corporate interests. They craft international coalitions of stakeholders spanning politicians, regulators, bureaucrats, analysts, investors, lawyers, reporters, consumers and activists. They influence these stakeholders' opinions, perceptions, behaviors and decisions so as to secure a favorable policy outcome, collective decision or shift in group opinion that enhances their corporation's ability to generate a profit by satisfying a market demand. This course surveys the managerial, political economic, sociological and psychological foundations of corporate diplomacy as well as case study examples of successful and failed implementation in order to develop an interdisciplinary framework for the play of global influence games. The insights gained can be applied to influence team decision-making and organizational politics as well as by individuals and organizations in lobbying, marketing, sales, political campaigns and corporate, national or multilaterial projections of soft power.
MGMT717 - Deals: The Economic Structure of Transacting and Contracting
This course focuses on the role of professionals in creating value through transaction engineering. The overall goal of the course is to explain how private parties actually order their commercial interactions and to develop a relatively systematic theory of how they ought to do this. The first half of the course will be devoted to impediments to transacting including asymmetric information problems, difficulties intrinsic to contracting over time, enforceability, and various forms of strategic behavior and to a variety of possible responses rooted in decision theory, option theory, techniques for minimizing information problems, risk management, and incentive alignment. In the second half of the course, student teams will apply the tools developed in the first half to a series of real transactions. That part of the course will be described in a separate memo to be circulated once the roster of deals is fixed. Enrollment will be restricted this year to 48, of whom 24 will be second-year MBA students and 24 will be upper class Law students.
Prerequisites: This course has no formal pre-requisites but first-year MBA's should contact the professor (email@example.com) before registering.
MGMT719 - Organizational Economics and Strategy
This course examines the economic factors underlying value creation in organizational strategy. We shall explore the role of transaction costs, complementary assets, incentives, routines and organizational rigidity in the context vertical integration, horizontal diversification, market entry and scaling up. Consequently, students who take this course will develop a sophisticated basis for creating and evaluating growth strategies. Classroom time is devoted primarily to lively discussion of the cases and assigned readings. There are also two group case write-ups and a final exam. Because this is an advanced course that moves at a very rapid pace and builds on material covered in a number of core courses it is primarily geared toward second year MBA students and is only appropriate for the most advanced first year graduate students.
Prerequisites: MGMT 611 or 612.
MGMT720 - Corporate Diplomacy
This full semester elective is designed for students in the MBA program as well as other professional schools (e.g., Law, Communications, Public Policy and Engineering) with an interest in the interface between multinational corporations and political and social actors. The course is consciously interdisciplinary in its design and is focused on a central phenomenon: internationalinvestors' attempts to overcome political and social challenges that stand between market demand and shareholder profit.
The course is built around the assumption that as international investment involves individual working in teams in multiple organizations from various countries motivated by some combination of self-interest, profit and public interest, an interdisciplinary perspective in which one genuinely integrates insights and tools from economics, political science, international business and strategy will outperform a narrower approach. While our main focus will be oncorporate diplomacy in a global business environment, the topics we will examine are generalizable to many additional contexts including team decision-making, organizational politics, lobbying, marketing, sales, political campaigns and corporate, national or multilateral projections of soft power.
Prerequisites: There are no formal prerequisites but participants should be able to contribute some individual expertise from previous coursework, training, and work experience and will, at other times, rely heavily on their peers to summarize and introduce key concepts and perspectives from other disciplines, industries or countries with which they may be less familiar.
MGMT721 - Corporate Development: Mergers and Acquisitions
This course explores the various modes of corporate development available to managers to drive firm growth and change, including alliances, outsourcing, corporate venturing, and particularly mergers and acquisitions. The objectives are three-fold: (1) to arm you with a set of tools to facilitate the selection of the appropriate growth strategy in a given situation; (2) to provide you with insights as to how to manage partnerships like alliances, outsourcing, and corporate venturing; and, (3) to develop a comprehensive framework for executing M&As, from initiation to implementation. The emphasis is on strategic and operational aspects of these transactions, rather than financial considerations. We begin by examining the different modes of corporate development, including the applicability and management approaches for each, particularly various types of partnerships. We then delve into acquisition screening and deal-making. Afterwards, we consider in detail post-merger integration. The course ends with the presentation of project work and a review of the course learnings. In terms of its pedagogical approach, this is designed to be an interactive, applied, case-based course with accompanying conceptual readings to help structure your thinking. Given the nature of the course, we will also apply the lessons from the cases to
understand the challenges and implications of relevant recent and on-going deals. In addition, guest speakers with experience in investment banking, consulting, and industry will be invited to share their perspectives. A semester-long group project is intended to give you the opportunity to apply your learning from the course to a context that is most interesting and relevant to you.
Prerequisites: MGMT-654 or MGMT-611 or MGMT-612
MGMT731 - Technology Strategy ( Course Syllabus - 2013A)
The course is designed to meet the needs of future managers, entrepreneurs, consultants consultants and investors who must analyze and develop business strategies in technology-based industries. The emphasis is on learning conceptual models and frameworks to help navigate the complexity and dynamism in such industries. This is not a course in new product development or in using information technology to improve business processes and offerings. We will take a perspective of both established and emerging firms competing through technological innovations, and study the key strategic drivers of value creation and appropriation in the context of business ecosystems.
MGMT735 - Strategic Management in Service Enterprises
MGMT736 - Inside Indian Business
This project-oriented course focuses on Indian business. There are several themes underlying the course: the India Way, a mix of management and leadershippractices that distinguishes many Indian firms; the contemporary political economy of India; the nature of the historic economic reforms of 1991, and how established Indian firms, particularly Indian conglomerates, adapted during the 1990's to the changed competitive landscape; the explosive growth of the Indian telecommunications sector; bottom of the pyramid business model and an emphasis on both product and business model innovation; the media and entertainment industries including Bollywood; the Indian health care sector; the software services sector and the remarkable global success of several firms, and their contemporary globalization challenges; and, finally, a comparison of China and India, and the different challenges facing them. The emphasis is integrative, and the course builds upon several required first year courses in Management.
Prerequisites: MGMT 621, MGMT 652, MGMT654, MGMT655
MGMT740 - Leading Effective Teams
This course develops your knowledge and skills for designing, leading, and consulting with teams in organizations. The goals are to provide both the conceptual understanding and the behavioral skills required to improve effectiveness. This course emphasizes class participation, readings, analytic and reflective writing, assessments, peer coaching, lectures, simulations, and an intensive field project. Four kinds of teams are the focus of study: teams of which you've been a member in the past; your 740 team, with three or four classmates; a team outside of 740 that your 740 Team will observe, analyze, and report on --your Host Team; and a team that you expect to be on in the future. The case material for learning and applying course concepts will be these teams that you know from direct observation and experience. Expect to leave this course with new knowledge of how to diagnose and intervene to improve the performance, sustainability, and impact on the members of any team in any setting.
Prerequisites: MGMT 610
Other Information: The text is by J. Richard Hackman, Leading Teams (Harvard Business).
MGMT751 - Strategic Management of Human Assets ( Course Syllabus - 2012C)
This course introduces the student to the strategic role human resource management might play in creating competitive advantages for firms. We study P/HRM policies and practices in context and consider broader corporate strategies, business activities, and competitiveness in an increasingly global marketplace. We give attention to the diversity of the American workforce, and to the effects of changing technologies in production and in provision of services.
Prerequisites: MGMT 611 or MGMT 612.
This class will examine the causes and consequences of the creation of family fortunes, with a focus on the practical implications for family decision-making. We will discuss psychological characteristics associated with the typically entrepreneurial creators of family wealth; with their children, whose childhood development takes place in the context of growing businesses and accumulating wealth; and with their grandchildren and beyond, whose childhood development occurin the context of established and often very public wealth, to build a comprehensive view of the interplay between family dynamics and economic decision making. Note that this class focus will be on behavioral aspects of family dynamics in a wide range of decision settings, rather than on management of an operating business per se. While this class will be particularly relevant to individuals aspiring to create their own family fortunes or whose ancestors have already done so, it will also be useful for individuals interested in foundation management, non-profit fund-raising or business catering to the very wealthy such as asset management and luxury retail.
MGMT772 - Power and Politics in Organizations
The purpose of this course is to introduce you to the power dynamics in organizations. The course is designed so that you will learn concepts that are useful for understanding, analyzing, and harnessing power. But beyond discover-ing ways to extend your own power, influence and political skill in organiz- ations, we will also uncover lessons about ways in which power and politics blind you, and how to navigate situations in which you are up against power- ful people. Using a range of theoretical and business articles, cases, exer- cises, and assesments, we will extract a variety of lessons about power and politics in organizations. Topics include power, political skill, influence, issue selling, change management, networks, hierarchy, political conflict, corruption, coping with intolerable bosses, and redemption. Students will be expected to conduct fieldwork for both their group project and final paper.
MGMT773 - Managing Organizational Change
During the last decade it has become clear that in the global economy, firms must constantly adapt to changing technological, competitive, demographic and other environmental conditions in order to survive and prosper. The importance of acquiring the knowledge and tools for changing organizations successfully cannot be overemphasized (particularly for students headed for consulting and general management careers, although not limited to them). This course focuses on specific concepts, theories and tools that can guide executives entrusted with the task of leading organizational change to successful execution. Among other topics, the course will focus on various change strategies such as leading change, managing cultural change, and mergersor acquisitions, corporate transformation, managing growth, building the customer centric organization, business process outsourcing both from client and provider perspectives, and managing radical organizational change. The perspective of the course is integrative and the focus is on successful execution.
Prerequisites: MGMT 611 or MGMT 612.
MGMT776 - Cultiv Judgment Skills
A world-class poker player defined the difference between serious players and amateurs this way: serious players know the difference between 40-60 and 60-40 propositions. In other words, serious players are well calibrated (skilled at distinguishing what they know from what they don't). This course gives you chances to explore how well calibrated you are in a low-risk setting. The course should appeal to students with interests in strategy, international business, political-risk analysis, and the managerial challenges of maximizing the judgmental accuracy of key personnel. The class will pit its wits against competitors in a global-forecasting tournament sponsored by the Intelligence Advanced Research Projects Agency (IARPA) - as well as design forecasting exercises around your individual career and business plans. Key challenges include: (a) learning to translate "interesting questions" into "testable propositions," (b) getting into the habit of translating vague hunches into probability metrics and making good use of feedback on how well calibrated you are, (c) applying tools for enhancing accuracy, (d) making solo forecasts - and exploring methods of making team forecast more than the sum of their individual-contributor parts.
Prerequisites: None (but an interest in links between business and politics is helpful).
MGMT782 - Strategic Implementation ( Course Syllabus - 2012C)
This course is directed toward the attainment of five interdependent objectives 1) to develop an understanding of strategy implementation in complex organizations; 2) to understand how organizational planning, design, control and human resource decisions are interdependent and critical to successful implementation; 3) to develop a sensitivity to the "realities" of strategy implementation in "real world" organizations; 4) to obtain a deeper understanding of your personal management style and how it may help or hinder strategy implementation; and 5) to become a better communicator and implementer of strategy. To meet these course objectives, the emphasis will be on learning powerful ideas about how to be systematic in strategy implementation efforts, making use of research about case problems, class discussions, in class exercises, and student presentations. Much of the learning will take place in group discussions outside the classroom in preparation for the time we meet in the classroom.
MGMT783 - Strategies for Economic Inclusion
The majority of humans, estimated to exceed 4 billion people, exist on incomes less than $300 per year. Over 1 billion of these poor exist on less than a $1 per day. Many poor are denied the opportunity to engage in the global business environment. Constraints they face include those of capital, knowledge, and services.
This course is designed to attract those who are interested in the market for the poor. It will provide a managerial guide to those who may want to pursue careers in this space. The course is designed to present a multi-functional view of decisions managers will face.
MGMT784 - Managerial Economics and Game Theory
The purpose of this course is to develop students' abilities to apply game theory to decision making. Development of the tools of game theory and the application of those tools is emphasized. Game theory has become an important tool for managers and consultants in analyzing and implementing tactical as well as strategic actions. This course will primarily focus on examples useful for developing competitive strategy in the private sector (pricing and product strategy, capacity choices, contracting and negotiating, signaling and bluffing, takeover strategy, etc.). Game theory can also be used to address problems relevant to a firm's organizational strategy (e.g., internal incentives and information flow within a firm) and to a firm's non-market environment (e.g., strategic trade policies, litigation and regulation strategy).
Prerequisites: MGMT 784 (intermediate microeconomics) or equivalent. It is expected that the student has been introduced to some basic game theory. There will be a quick review of the basics and some recommended supplemental readings for those who have little or no background in game theory.
MGMT785 - Learning Strategies
MGMT788 - Governance and Management of Chinese Firms
This course provides brief but intensive information of some of the largest business firms in the Peoples Republic of China. From 1949 to 1988, business firms as we know them did not exist in the PRC. In 1988, independent legal status was granted to state-owned enterprises, which were made responsible for profits and losses; in 1993, state enterprises were redefined as business corporations, and private businesses were allowed to incorporate as limited liability or stockholding companies. China's economy has grown rapidly since, but the development of Chinese firms has been uneven. A few have large domestic market share and are global competitors, but most outside of industries like electrical power, petroleum and telecommunications remain regional competitors at best and are small by Western standards. The governance of Chinese firms remains work in progress. Repeated reforms aimed at corporatizing firms while preserving state control have created extremely complicated ownership and governance practices, which differ from industry to industry and from region to region. This course will acquaint students with the governance and management of some of the largest and best known Chinese firms, and with the capabilities and liabilities of Chinese firms and hence their strategic options. It will provide students tools needed to assess the
investment potential of Chinese firms and the opportunity to do original research on issues of governance and management of Chinese firms.
MGMT798 - Privatization: An International Perspective
Privatization is sweeping the globe, but it remains one of the most controversial of economic reforms. The redefinition of boundaries between the public and private sectors creates new roles and opportunities for policymakers and business people. This course will review the international experience with privatization -- the Thatcher privatizations of the 1980s, the sale of industries and utilities in developing countries, the transformation from central planning in post-Communist countries, and the recent experiences with privatizing very traditional public services and infrastructure activities by local and national governments throughout the world. What practical lessons can be learned from the myriad of methods adopted in different countries? What issues arise in privatization transactions and what are the implications for business and regulatory policy? Who gains and who loses from privatization and how can deals be structured that improve productivity and welfare? These questions will be addressed through lectures, guest speakers, case studies and simulations.
MGMT799 - Management in Practice: A Simulation-Based Approach
One of the challenging aspects of MBA curricula is that students are taught various techniques in each function as well as what determines success in that function but not how to manage trade-offs among those different goals and the different techniques for achieving them. This is especially true in the contextof the workforce. It is possible, for example, to organize tasks and work schedules in ways that should maximize efficiency if systems all operated correctly and individuals are rational. Yet we know that pursuing those objectives too far can lead in practice to high levels of stress and alienationamong workers that causes performance suffers. We can motivate employees power-fully with financial incentives, but we rarely know in advance how far to push those incentives before they are no longer cost-effective.
The purpose of this class is to understand those trade-offs and to give stu- dents a practical sense as to when they matter in terms of overall firm or organizational performance. The way we propose to do this is throug computer- based simulations. The simulations give participants options then show them theconsequences of their decisions for overall firm performance. In contrast to other pedagogy, the goal of these simulations is not to show us the best systems. It is to show how the choices among practices matter. A noval feature of this course is that we use simulations from real organizations that include those that most students would otherwise never see, such as managing the operating staff in a nuclear control room or running a MacDonald's store. Each simulation focuses on a different aspect of managing, focused on the human capital issues. Assesments for the course will be based on class participation,performance in each simulation, and write-ups describing lessons learned.
Other Information: Course content may vary at the time of offering. Please check the Department's webpage for current course details. It is open to first-year Wharton MBA students.
MGMT801 - Entrepreneurship ( Course Syllabus - 2012A)
This is the foundation course in the Entrepreneurial Management program. The purpose of this course is to explore the many dimensions of new venture creation and growth. While most of the examples in class will be drawn from new venture formation, the principles also apply to entrepreneurship in corporate settings and to non-profit entrepreneurship. We will be concerned with content and process questions as well as with formulation and implementation issues that relate to conceptualizing, developing and managing successful new ventures. The emphasis in this course is on applying and synthesizing concepts and techniques from functional areas of strategic management, finance, accounting, managerial economics, marketing, operations management, and organizational behavior in the context of new venture development. The class serves as both a stand alone class and as a preparatory course to those interested in writing and implementing a business plan (the subject of the semester-long course, MGMT 806).
Format: Lectures and case discussions
Requirements: Class participation, interim assignments, final project
Prerequisites: Wharton MBA students only.
MGMT802 - Change, Innovation & Entrepreneurship
This course will provide students with a theoretical foundation and a set of practical tools for the management of innovation, and the change associated with it, both in corporate settings and start-up situations. For the purposes of the course, innovation is defined as the profitable commercialization of a new idea: product, market, process or technology. The theoretical background will be provided by multiple readings, your knowledge of which will be tested in a readings report. The practical tools will be provided via lecture/discussion sessions, your skills at which will be demonstrated in an innovation assessment for an actual innovation opportunity. In addition the teams will be required to present a proposed game-changing innovation that reconfigures the basis of competition in a selected industry.
Format: Lectures, discussion, interim reports, class participation, readings report, and presentations
Prerequisites: MGMT801 strongly recommended.
MGMT804 - Venture Capital and Entrepreneurial Management
This elective half-semester course focuses on venture capital management issues in the context of the typical high-growth start-up company. The course is fundamentally pragmatic in its outlook. It will cover six principal areas relevant to the privately held high-growth start-up, these include commentary on the venture capital industry generally as well as a discussion of the typical venture fund structure and related venture capital objectives and investment strategies; common organizational issues encountered in the formation of a venture backed start-up, including issues relating to initial capitalization, intellectual property and early stage equity arrangements; valuation methodologies that form the basis of the negotiation between the the venture capitalist in anticipation of a venture investment; the challenges of fundraising, financing strategies and the importance of the business plan and the typical dynamics that play out between VC and entrepreneur; typical investment terms found in the term sheet and the dynamics of negotiation between the entrepreneur and the venture capitalist; corporate governance in the context of a privately-held, venture capital-backed start-up company and the typical dynamics that play out between VC and entrepreneur in an insider-led, "down round" financing.
Format: Lecture, case studeis, class participation, weekly case assignments, and final exam.
Requirements: Classroom participation, weekly case assignments, and final exam
Prerequisites: MGMT 801 recommended
MGMT806 - Formation and Implementation of Entrepreneurial Ventures
This advanced course in entrepreneurship centers on writing a comprehensive business plan and implementation plan for a venture of your choice. The course examines ways to profitably launch and exploit business opportunities (as opposed to what opportunity to explore). It will allow you to acquire the skill set necessary for crafting a winning business model for your venture - developing and writing a coherent and effective plan to start a business in either an independent or a corporate setting. The venture must distinguish itself from existing companies through differential innovation; for example, through an innovative product or service, an innovative production process, a new business model, or by creating a new market. Students must have successfully completed MGMT 801 before enrolling in this course.
Format: Highly interactive with team progress reports delivered regularly and student expertise shared with presenters
Requirements: Class participation, interim assignments, team project and team presentation
Prerequisites: MGMT 801 required. MKTG 756: Marketing Researsh - is recommended
MGMT809 - Private Equity in Emerging Markets
This course is designed to provide students with a practical understanding of private equity issues focusing on emerging market and frontier country environments. The underlying premise of the course is that private equity in these countries is a distinctly different asset class than in industrialized countries for a number of reasons that will be identified and analyzed by students, such as valuation, corporate governance standards and practices, contract enforcement and regulations, and exit alternatives. Students will assess these differences that heighten the risks for private equity investors in emerging markets and explore how they can be successfully mitigated. The course will be analytically rigorous and require a high level of weekly preparation and class participation. The case method of teaching will predominate, allowing students to gain a realistic understanding of the roles, responsibilities and analytical skills required of practitioners, and the tensions that arise between the various stakeholders, including government officials who formulate regulations and policies that affect PE investor behavior and performance.
Cases will highlight the challenges and tasks performed at each stage of the investment cycle, such as structuring a new fund, originating investment opportunities, conducting due diligence, monitoring and creating value in portfolio companies, and exiting.
MGMT810 - Social Entrepreneurship
The basic thesis of this elective course is that many social problems, if attacked entrepreneurially, create opportunities for launching businesses that simultaneously generate profits and alleviate the societal problem. This approach generates societal wealth as well as entrepreneurial wealth. The course is distinguished from public sector initiatives to address social problems. Student teams are expected to develop a plan to launch a social enterprise. The teams will also generate presentations of two proposals focused on the identification of opportunities for large established firms to create a bottom of the pyramid business that will significantly boost social wealth in a target country.
Format: Lecture, discussion, live case studies (discussions of progress reports of students' own ventures), nation-boosting presentations
Requirements: Classroom participation, interim assignments, readings report, and final business plan
Prerequisites: MGMT 801 strongly recommended
MGMT811 - Entrepreneurship Through Acquisition ( Course Syllabus - 2014A)
This course focuses on the theoretical and practical issues of acquiring a business. Topics include: locating a business, due diligence, reviewing and analyzing data, valuation, raising capital/financing the deal, structuring the acquisition, and integrating the target.
Format: The class consists of lectures, in-class discussions of caselets, assigned readings, homework problems, and a group project
Prerequisites: MGMT 801 Recommended
MGMT815 - Sports Business Management
See LGST 809.
MGMT816 - Building Human Assets in Entrepreneurial Ventures
The success of entrepreneurial endeavors depends, even more so than in larger more bureaucratic organizations, on the ability to locate and manage talent effectively. Specifically, on the need to find the right people and keep them engaged in working on the organization's goals. We focus in this course on leading, building, and maintaining human assets in start-up and small, growing operations. The course is designed with several key components, these are: conceptual and practical readings relevant to the topic; case studies illustratng key concepts and issues; lecture on practical application and examples; and lastly every class will also feature a presentation by and conversation with an outside expert whose work is relevant to guiding or advising start-ups and fast-growing small firms. We will focus on the following objectives: identifying the talent needed to initiate and sustain an entrepreneurial endeavor; structuring human resource policies and corporate culture to prepare for and facilitate firm growth; assessing the human aspects of valuing entrepreneurial companies; and responding to conflict and organizational threats within nascent firms.
This course will apply recent research from strategic human resource management, personnel economics and organizational behavior to the practical issues of building and managing human assets in new ventures.
Format: Case discussion, guest speakers and lectures, active class participation, final project
Prerequisites: MBA students only
MGMT833 - Strategies and Practices of Family-controlled Companies
This course is designed for those persons who desire to understand the distinct strategies and practices of family-controlled companies and family wealth management. It will focus on shareholder decision making; financial and market driven options for long-run competitiveness, organizational structures and management team issues; strategic planning from a resource-based perspective; transition planning for the corporate entity, wealth, leadership and relationships; family dynamics and communication issues; and leadership empowerment. The course is intended for those who plan to consult or provide professional services to family-controlled companies and for those planning a career in their family firm.
Format: The class is structured around topical lectures with frequent utilization of case studies requiring active class participation, in-class case discussions, as well as on-site and off-site project work time, submission of several written case studies, and a term research project
Prerequisites: Open to Wharton MBA and Penn graduate students
MGMT871 - Multinational Business Strategy
This course focuses on the creation of competitive advantage in the multinational firm. It examines the nature of global competition by exploring the characteristics of global vs. non-global industries and strategies that have been successful in a global context. The course also considers issues regarding make, vs. buy, sourcing, location decisions, and alliances - all issues related to designing and coordinating the global value chain for maximum advantage. Additionally, the course examines how firms attempt to build a national presence, including examining the market entry decision, the role of the country manager, as well as design and human resource management policies in the multinational firm.
MGMT875 - International Comparative Management
This course covers how firms from the US, Asia, Europe and Latin America adapt to different countries and operate in the global economy. The complexities of a world of nation-states and trade blocs produce both opportunities and challenges to firms operating across national boundaries. Most recently, however, globalization has tended to delete national boundaries in selective ways and has created new managerial challenges. This course intends to provide the future international manager with a broad view of the factors underlying international and global business success through an understanding of the relevant comparative, cross-national differences. The emphasis will be placed on providing students with concepts, techniques, and factual knowledge useful for their careers in international and global business management.
MGMT890 - Managing in Emerging Economies: Energy and Infrastructer in Brazil
MGMT891 - Advanced Study Project - Strategic Management
MGMT892 - Advanced Study Project - Technological Innovation
This mini course is restricted to recipients of the Mack Fellowship for Technological Innovation which is offered each year to four students or teams via an open competition announced to all second-year MBA students in January, with winners selected in May. The mini-course is a required part of the broader Fellowship to ensure grounding in current concepts, frameworks and tools for managing emerging technologies. The course covers such topics as how to assess innovation opportunities, common traps firms fall into, winning strategies and business models, financing new ventures, organizational structure and alliances, as well as leadership.
Course requirements: In addition to participating in four scheduled class sessions, each student/team needs to submit a 10 page methodology paper by October 15 in order to complete just the mini-course. This entails justifying the selection of 5 to 8 concepts or tools relevant to the student's research project, followed by a further narrowing down to 2 to 4 concepts to be used in this particular research project. The main purpose of this paper, apart from completing the mini-course, is to guide the student or team as they develop their larger research report which is due by year end. This final research report is not part of this course but required to complete the Fellowship.
MGMT893 - Advanced Study Project for Entrepreneurial Management
MGMT894 - Advanced Study Project - Multinational Management
ASP topics can be individually selected by the student with the advice and consent of any instructor in the management Department. All ASP registrations require the written consent of the instructor and appropriate course and section number on the registration form. If the student has the instructor's written permission, he/she is not required to obtain written consent from the Department. Students, however, should send an email to MGMT-Courseinfo@wharton.upenn.edu to request the course and section numbers