MGMT610 - Foundations of Teamwork and Leadership
Management 610 is the first core course in the MBA Program and it cannot be waived The first week of the fall term (in August) is dedicated to this formative and foundational experience. This course focuses on developing students' knowledge and skill set for teamwork and leadership. It 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 custom-designed specifically to allow students to experience the core concepts they learn in this class. The three goals of thiscourse are for students to learn: 1. Leadership behaviors: how to enact the skills that contribute to a team's effective performance. 2. Team dynamics: how to be an effective team member, as well as how to best design work teams; 3. Organizational awareness: understanding organizational culture.
Format: A custom-designed Wharton-only simulation is paired with course sessions to deliver a unique learning experience. Classes will include experiental learning combined with debriefings, lectures, readings, class discussion and personal and group performance feedback. This course reflects the realities that informal leadership occurs in teams on an ongoing basis, that being a good team player is a part of leadership, and that many of one's early experiences with leadership will occur while working on teams. Because of the team-based nature of this course, and time intensive nature of this experience, attendance is mandatory for ALL five sessions of this class.
NOTE: Credit-bearing, core coursework begins with the MGMT610: Foundations of Teamwork and Leadership course.
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, and 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 effective of an established enterprise requires a combination of insights drawn from economics, sociology, psychology and political economy.
MGMT612 - Management of Emerging Enterprises ( Course Syllabus - 2016A)
Emerging enterprises, the focus in this course, are small, new, fast-growing organizations. Their founders and managers face multifaceted challenges: how to assess the competitive position of their business model and develop a strategy; how to develop the internal organizational structure, culture, and policies for selecting and managing employees; and how to pursue global opportunities. We cover these challenges in separate modules on strategy, human and social capital, and global issues. The human and social capital module covers classic management challenges of aligning interests of the individual and the organization; managing individual psychological needs and social influences; and developing employee capabilities that provide competitive advantage. Also covered are unique challenges that yound organizations face, i.e. building an effective culture; recruiting, selecting, and retaining talent; building systematic approaches to motivating employees; coping with the stresses of rapid growth; and leveraging the benefits (and avoiding the liabilities) of the founder's powerful imprint.
The strategy module covers fundamental issues central to the competitiveness of the enterprise. Because the strategy field is broad, MGMT 612 emphasizes topics and frameworks that are most relevant for younger firms, such as innovation, disruption, managing resource constraints, and building capabilities. However, a key insight of the module is the importance of seeing the playing field from the perspective of the competition. Thus, by the end of this section, students will have a robust grounding in strategy that will allow them to succeed, whether their career path leads to a Fortune 100 firm or a garage start up.
The global module covers the emerging firm's decision about when (and whether) to internationalize. This decision must address which foreign markets to enter; the mode of entry; the sequence of moves to develop capabilities; what organizational form to choose; where to establish HQ; and how to adapt to the unique economic and institutional features of different markets. In all these issues, the emphasis is on how young, resource-constrained firms can position themselves profitably in globally competitive markets. For the final project, student teams provide integrated analysis across the modules for an emerging enterprise of their choice.
MGMT613 - Career Planning
MGMT623 - High Performance Work Systems
MGMT625 - Corporate Governance, Executive Compensation and the Board
This class examines the relationships between corporate managers, the boards of directors charged with overseeing them, and investors. We'll review the responsibilities of the board, including financial statement approval, CEO performance assessment, executive compensation, and succession planning. While boards are legally bound to represent the interests of equity investors, in the course of carrying out this role they are often called on to respond to the needs of numerous other stakeholders, including customers, employees, government and society at large. With global brands at risk and mistakes instantly transmitted via Internet and social media, the reputational stakes are very high.
The course is a combination of lecture, guest lecture, discussion, and in-class research workshops. We will review theories underlying modern governance practice, drawing from evidence provided by research across diverse fields, including finance, sociology, and organization theory. We'll study specific situations where boards and management teams face governance challenges and assess the strategies used to deal with them. Finally, we'll examine the ways in which governance arrangements and external stakeholder involvement in governance affects corporate social behavior and global citizenship.
MGMT653 - Field Application Project ( Course Syllabus - 2016A)
FAP is an experiential-based course where learning is done outside of the classroom. It is unique in its lack of a classroom setting all meetings take place in a professor's office in small teams of 4 to 6 students. Teams are faced withreal-time issues of outside organizations and work with faculty and host managers to construct innovative solutions. Solutions are integrative and cross-functional in nature. We encourage creative thinking giving students wide access towhat we call "area of expertise" faculty. Depending on the project scope we help students arrange meetings with professors who are experts in their field. Host organizations range from large multinational firms to start-ups. A significant percentage of the projects are with non-profits and organizations focused on social causes.
Format: Teams (4-6 members) meet with faculty on a weekly basis (30-45 minutes). There are also 3-5 meetings with host managers. In addition to meeting with aFaculty Head, students are given access to "area of expertise" faculty. These faculty members are chosen based on their specific expertise. The final deliverable consists of an oral presentation and a written document.
Requirements: Weekly team meetings with faculty project head and a final PowerPoint report and presentation.
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 - 2016A)
Leaders mobilize resources toward valued goals. In this course, 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.
Special registration for MGMT 671: This course is only available to Wharton MBA students. The first step in the registration process for it is to apply for admission by writing a response to the email Professor Friedman sends in the Fall term to all Wharton MBA students. This course is not included in MBA Course Match.
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, 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.
Prerequisites: Mgmt. 611 and Mgmt. 612
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 strategic partnerships
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.
Prerequisites: MGMT 611 or MGMT 612
MGMT714 - Value Creation and Value Capture in 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 anumber of different management disciplines and shows off their interrelationships. In terms of the Wharton curriculum and of recent research, strategy issues,and in particular the set of issues concerning how value can be created and captured at the enterprise level, are a running theme.
Format: There will be occasional lecturing but this is principally a discussioncourse. The readings are predominantly primary source documents, supplanted when helpful by background notes from the instructor, with occasional readings from secondary sources. Evaluation is based on class participation, weekly brief written responses to the readings, and a term paper, with the great bulk of thegrade weight on the last of these.
Prerequisites: MGMT 611 or MGMT 612
MGMT715 - Political Environment of the Multinational Firm ( Course Syllabus - 2016A)
Managing effectively in challenging socio-political environments (e.g., emerging markets) requires a melding of art and skill in engaging external stakeholders to advance corporate interests. This means crafting international coalitions of stakeholders spanning politicians, regulators, bureaucrats, analysts, investors, lawyers, reporters, consumers, non-profits, activists and local communities. It involves influencing these stakeholders' opinions, perceptions, behaviors and decisions so as to secure a favorable policy outcome, collective decision, shift in group opinion or pooling of resources that enhances the 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 navigating complex socio-political environments. The insights gained can be applied to influence team decision-making and organizational politics as well as by individuals and organizations in lobbying, marketing, product development, distribution and sales, political campaigns and corporate, national or multilateral projections of soft power.
MGMT717 - Deals: The Economic Structure of Transacting and Contracting
This course focuses on the role of professionals, including lawyers of all types (corporate, tax, securities, etc.), direct private equity investors, corporate business development officers, and investment bankers, in creating value through transaction engineering. The overall goal of the course is to explain how private parties order their commercial interactions, to develop a theory of how they ought to do this, and to gain a thorough understanding of how business deals are actually done.
The first half of the course will be devoted to impediments to transacting, including asymmetric information, 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, risk management, and incentive alignment. In this first part, student teams also will follow the development of some current deals and give brief in-class presentations about them. In the second half of the course, (differently composed) student teams will apply the tools developed in the first half to the fine details of a series of real transactions. Each team will be assigned to a recently completed transaction and given access to the original documents implementing their deal. Each deal will get three classes. In the first, the instructors will present some background. In the second, the student teams will present their transaction to the class, focusing on how the transaction was structured and the advantages and disadvantages of that structure. In the third session, one or more of the parties who worked on the transaction will present the deal from the participant perspective and take questions from the class.
The requirements for the class are regular attendance, active participation in class discussions, and completion of some homework assignments, the two group projects, and an individual paper. The course meets jointly with an upper-class Law School and LLM course. Wharton enrollment will be restricted this year to 25 MBA students. In the event that the course is oversubscribed, students will be admitted from the waiting list only if other students drop the course. If this happens, it usually happens fairly early on. Priority for admission in these circumstances will go to students who have attended the class from the beginning.
Prerequisites: There are no prerequisites for this course.
MGMT720 - Corporate Diplomacy
Are you well prepared to manage or analyze business challenges and competitive threats in a variety of political and social environments? For example, what should you do to dissuade or counter an individual critic armed with a camera phone a YouTube account? Or a decentralized grassroots organization that seemingly pops up overnight, appears to have no single leader or headquarters, and yet is quite successful in capturing media attention? Or a government official who because of a tight reelection campaign or an internal challenge from a populist general turns on you? Lone individuals, small activist groups and unexpected political shifts have done extensive damage to the reputations - and value - of multinationals in recent years. And yet most companies don't plan for, or even think about, investing in building the kinds of solid relationships with community leaders, governments, NGOs, and other key players that can help them avoid such crises and, when necessary, draw upon their reservoir of stakeholder capital to respond quickly and decisively when a challenge or threat emerges. This semester-long class provides an integrative perspective towards the management of these risks and opportunities.
It highlights that better assessment of stakeholder opinion, understanding of how stakeholders impact firm value and of how to infuse stakeholder relationships with trust to unlock that value are increasingly critical elements of a firm's long-term success, particularly in emerging markets. Firms must also focus o n continual improvement in their stakeholder engagement, reinforcing their actions with strategic communications and via organizational culture. The course will give students a combination of practical tools and the latest academic thinking in the emerging field of corporate diplomacy.
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 ( Course Syllabus - 2016A)
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. The course uses a combination of cases, simulation and readings. The cases are drawn primarily from technology-based industries. Note, however, that the case disucssions are mainly based on strategic (not technical) issues. Hence, a technical backgrou is not required for fruitful participation.
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.
The text is by J. Richard Hackman, Leading Teams (Harvard Business).
Special registration for MGMT 740: This course is only available to Wharton MBA students. The first step in the registration process for it is to apply for admission by writing a response to the email Professor Friedman sends in the Spring term to all first-year Wharton MBA students. MGMT 740 is not included in MBA Course Match.
Prerequisites: MGMT 610
MGMT751 - Strategic Management of Human Assets ( Course Syllabus - 2012C)
Successful firms often excel in the capability of employing and deploying human assets (resources) to achieve the effective implementation of business strategy. To understand this capability, this course will address two central themes: 1) How to think systematically and strategically about various aspects of managing the organization's human assets; and 2) What really needs to be done to implement these policies and achieve competitive advantage. In order to think "systematically" about this topic for any particular organization, we will consider the bundles of work practices and human resources processes that make up the overall system for managing people and evaluate whether these are internally consistent and aligned ("internal fit"). To think "strategically," we will then assess the relationship between practices/processes of managing people and the firm's strategy and strategic context, e.g. industry structure, competitive landscape, political, social, and economic environment -- for evidence of external fit. By paying attention to implementation, we will recognize that although many organizations recognize the importance of managing the workforce effectively (and even "know" what approaches have been effective elsewhere), firms and managers very often fail to implement these approaches.
The course is organized in four sections: 1) Setting out basic frameworks for viewing the strategic management of human assets as a source of competitive advantage for firms; 2) Comparing and contrasting four different approaches to organizing human assets: "Control", "Commitment" model, "Talent" model, and "Collaborative", 3) Addressing the "make" vs. "buy" decision for human assets, i.e. when to upgrade the internal skills of existing employees (including promotion from within) in order to boost capabilities and compete in new areas vs. when to hire people who already have the necessary skills, via external hires and/or hiring individuals on contract; and 4) Analyzing the relationships among culture, HR systems, and organization change when faced with strategic shifts; leadership crises; rapid growth, and global expansion. The strategic management of human assets is only one source of competitive advantage. Yet many managers recognize (and many successful organizations embody) the reality that the competitive edge gained from the newest technology, the latest marketing strategy, or the most creative product design may be relatively short-lived as competitors rush to imitate and follow.
Aligning human resource systems with business strategy is not easy, but once achieved, it seems to offer a more sustainable - because more unique and difficult to imitate - source of competitive advantage.
Prerequisites: MGMT 611 or MGMT 612.
MGMT765 - Venture Capital and Entrepreneurial Management: Practices and Institutions of Silicon Valley
This elective half-semester course will highlight venture capital and entrepreneurship in general and will explore selected aspects of this industry,including: industry trends and dynamics in Silicon Valley and the South of Market area (SOMA) of San Francisco; the recent emergence of alternative sources of startup financing, including incubators/accelerators and crowdfunding crowdfunding platforms, angel groups and stage-agnostic institutional investors; business and operational aspects of early stage companies in transition to mezzanine-level stages of growth; and company "exits," including both initial public offerings and merger/sale transactions.
Format: Daily lectures along with site visits to technology companies, VC firms, incubators/accelerators, and debriefing presentations led by student teams.
Prerequisites: MGMT 801 recommended
Other Information: Requirements: Individual participation in lectures, discussions, and company visits, student presentations, and final paper.
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.
Format: The class will consist of a mixture of lectures, case discussions and class exercises. Submission of several written case studies, and a final examination are required.
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 discovering ways to extend your own power, influence and political skill in organizations, we will also uncover lessons about ways in which power and politics can blind you,and how to navigate situations in which you are up against powerful people. Using a range of theoretical and business articles, cases, exercises, assesments, and simulations, we will extract a variety of lessons about power and politics in organizations. Topics include political skill, influence, issue selling, change management, networks, hierarchy, political conflict, corruption, coping with intolerable bosses, speaking up, redemption, and downsizing.
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 - Managing and Competing in China
The business environment in China is characterized by both uncertainty and complexity. On the one hand, it is changing fast; on the other hand, it is influenced by deep-rooted political, economic, and cultural forces that exhibit tremendous inertia. This course will help students--as potential managers, entrepreneurs, and investors--gain the knoweledge and analytical skills necessary to compete effectively in China. We will discuss various types of firms in the Chinese economy--from large state-owned enterprises (SOEs) to newly minted Internet giants, from prominent multinational companies (MNCs) to virtually anonymous local suppliers--and the unique institutions in which these firms operate. Such discussions will also help managers whose firms compete or collaborate with Chinese firms on the global stage. We will use a combination of lectures, cases, debates, and role play in class. You will also have the opportunity to apply your learning to real business scenarios.
MGMT794 - Understanding Careers and Executive Labor Markets
This course examines the structure of executive careers in order to help understand how those careers can be managed most effectively. By drawing on extensive economic, sociological and psychological research on careers, we will examine such questions as when executives should move on to the next job or evenchange fields altogether, and what are effective means of finding jobs, achieving promotions, managing networks, and achieving work-life balance.
The first few sessions of the course explore the basic building blocks of the career, outlining our knowledge on the different orientations that individuals take to their careers, how approaches to the career change as people get older, and how different kinds of job moves within and across firms advance careers. The second part of the course explores in more detail the social resources that affect careers, notably social networks and relationships with mentors. The third section of the course then examines a number of the most important and difficult issues affecting modern careers, including making successful transitions, the effects of gender on careers, work life balance, and international careers.
Format: The course is structured around a combination of academic research, cases, guest speakers, and examples and exercises. A project encourages the students to compare their own plans for their careers with the careers that have been experienced by older executives.
Prerequisites: There are no prerequisites for this course.
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)
MGMT801 is the foundation course in the Entrepreneurial Management program. Thepurpose 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). Course is offered in Fall/Q1, Q2 and Spring/Q3, Q4
Format: Lectures and case discussions
Requirements: Class participation, interim assignments, final project
MGMT801 Simulation version. Just as in the other 801 classes, your final team project will involve developing a pitch for a new business (you can work across sections with groups doing the standard version of 801), but you will be playing the award-winning Looking Glass entrepreneurship simulation rather than doing individual reaction papers. The Looking Glass simulation is an intense and fun 3-week simulation that is played outside of class and gives you the chance to experience what running a startup company is like. The simulation takes more time during the three weeks it runs, thought total time commitments are the same across both class versions. The material covered is the same as in the standard version of MGMT 801, and follows the same schedule.
Prerequisites: Wharton MBA students only.
MGMT802 - Change, Innovation & Entrepreneurship
This course will provide you 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
Requirements: Class participation, interim assignments.
Prerequisites: MGMT 801 required. MKTG 756: Marketing Researsh is recommended
Other Information: MGMT806 and MGMT810 apply a common theoretical framework to businesses with differing value propositions; therefore, students should not plan their course of these courses.
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.
Prerequisites: Completion or waiver of FNCE601.
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.
MGMT891 - Advanced Study Project - Strategic Management
MGMT892 - Advanced Study Project - Collaborative Innovation Program
Business success is increasingly driven by a firm's ability to create and capture value through innovation. Thus, the processes used by firms to develop innovations, the choices they make regarding how to commercialize their innovations, the changes they make to their business models to adapt to the dynamic environment, and the strategies they use to position and build a dominate competitive position are important issues facing firms. In MGMT. 892, you will learn to address these issues through an action learning approach. MGMT. 892 is a 1.0-credit course conducted in the spirit of an independent study. By working on consulting projects for leading global companies, you will develop and then apply your knowledge about innovation management and help these firms better understand the challenges and opportunities posed by emerging technologies and markets.
Other Information: Please note that this course requires permission. Please contact:MackInstitute@wharton.upenn.edu for permission. The subject line should say: MGMT. 892 Permission Request.
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