|Orientation to Management|
Orientation to Management:
This course concentrates on the role of market processes in determining the opportunities facing individuals and business firms, the policy issues facing public officials, and the patterns of resource allocation in the economic system. While we cover a range of topics in microeconomics, the emphasis throughout the course is on learning how to approach and tackle economic problems—a skill that will be useful in making managerial decisions. Topics include supply and demand, consumers, production, equilibrium, imperfect competition, competitive strategy.
The course helps students acquire basic accounting knowledge that is extremely useful in the day-to-day practice of general management. Accounting systems provide important financial information for all types of organizations across the globe. Despite their many differences, all accounting systems are built on a common foundation. Economic concepts, such as assets, liabilities, and income, are used to organize information into a fairly standard set of financial statements. Bookkeeping mechanics compile financial information with the double entry system of debits and credits.
This course teaches students general management tools for framing and structuring a wide range of problems. The course begins with general heuristics that are useful for new problems of unorganized complexity. These include simplifying a problem, searching for related but simple problems that one knows how to solve, anticipating the form of a solution, changing the problem to an equivalent problem, problem decomposition, and recognizing common structure in different settings. The course continues with more advanced topics for managing in turbulent environments, including scenario methods, prediction markets, and systematic biases and blind spots. Exercises and cases are drawn from private equity, political risk, hi-tech industries, and business intelligence.
This course focuses on the individual and the idea that he or she is going to have a career over forty or fifty years. Through a combination of course readings, experiential exercises, lectures, and illustrations from others' careers, students gain a deeper understanding of the choices and tradeoffs they may face and how to assess these against the backdrop of the frameworks offered. Specifically, we focus on developmental frameworks, theories of resilience and transition, and the role of different kinds of capital — such as human capital, social capital, and financial capital — that people build in creating their careers.
The ability to understand and apply probability concepts and statistical methods is fundamental to management education. The concepts covered in this course include probability, decision analysis, confidence intervals, hypothesis testing, and applied regression modeling.
This is a short course on the theory and practice of leading, managing, and functioning in task-performing groups and teams. It has two primary goals: first, to provide students with a conceptual framework for analyzing group dynamics, diagnosing performance problems, and designing appropriate interventions, and second, to help students develop practical skills for building effective groups and teams.
The spreadsheet is the lingua franca of business analysis, and all organizations expect managers to develop spreadsheet models to aid decision making. Students learn how to formulate and solve a variety of management decision problems using the Excel Solver Add-In. The second half of the course examines Decision Analysis — the science of making decisions under uncertainty, with a focus on using decision trees to analyze problems.