We then move to multinational firm strategies, including a discussion of the reasons for why firms choose to do business globally through trade or FDI, international tax strategy, joint ventures, technology transfer, different ways to be a multinational firm, and ethical dilemmas.
The class is a mix of lectures and cases that allow students to synthesize the extensive materials on multinational management, international institutions, economic policies, and politics with a goal towards formulating multinational firm strategy. This course focuses on the role of professionals, including lawyers of all types corporate, tax, securities, etc.
The overall goal of the course is to explore how private parties could 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 course is offered in springtime terms only. The long first half of the course is devoted to analyzing impediments to transacting, including asymmetric information, exogenous risk and uncertainty, difficulties intrinsic to contracting over time, enforceability, and various forms of strategic behavior, all with a view to understanding the logic of the variety of techniques used to ameliorate them and more broadly to create distributable value through transaction structuring.
These Part I classes are accompanied by exercises of various sorts. In the second part of the course, student teams apply the conceptual tools and techniques developed in the first half to analyzing the fine detail of a series of recently completed and interestingly complex transactions. Each team is given access to the original documents implementing their deal.
A week of class time is devoted to each transaction. In the first Monday session, the student teams present their deal to the class, laying out strategic motivations, analyzing key structuring moves, and exploring the advantages and disadvantages of proceeding in the way the participants did.
In the second, on the Wednesday, one or usually more of the professionals who worked on it will present the deal from the participant perspective, address the always interesting process questions, and take questions from the class. The requirements for the class are regular attendance, active participation in class discussions, a series of homework assignments and a short individual paper in Part I, the group presentation project and a group memorandum from each deal team on what there was to be learned from the Wednesday presentation their week in Part II, and a six-hour take-home exam.
Experience suggests that both the Wharton students and the Law students benefit from the extended exposure to the culture of the other. Covid conditions and different institutional responses on the part of Wharton and the Law School will undoubtedly have some effect on how the course is delivered on A but the spirit of the usual arrangements will be preserved.
Wharton enrollment will be restricted this year to a maximum of 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.
For more information on this or any other matters relating to the course, please contact the instructor: raff wharton. The share of executives, board members, and investment managers who consider climate risk, racial justice and other ESG issues as well as stakeholder's opinions of the firm to be matieral to their business decisions has risen dramatically.
If this business case for engagement with stakeholders on ESG issues can be demonstrated to mainstream investors, pools of capital can be mobilized to harness grand societal challenges. However, executives, board members, and investment managers are actually growing less confident in the ESG data available to guide capital allocations and strategic decisions. This course provides students the latest tools to assess and map stakeholdr opinions as well as integrate them into financial valuation.
It also offers behavioral skills critical for stakeholder engagement including trust building, strategic communications and shaping organizational culture. In short, it prepares students to engage in Corporate Diplomacy i. This interactive, applied, and case-based 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 emphasis is on strategic and operational aspects of these transactions, rather than financial considerations.
Please note that you must fulfill the prerequisites in order to enroll in this class. What makes an IP asset strategically powerful? In this course, students will learn to critically analyze and answer these questions, gaining insights they can leverage in their future roles as innovation industry executives, entrepreneurs, strategist and investors. The course includes three major units. In Unit 1, Patents and Innovation Value, we examine closely the relationship between competitive advantage, value proposition, and intellectual property particularly patents.
We will apply our understanding of that relationship to critique and sharpen patent strategy to protect examples of cutting-edge technologies.
In Unit 2, Patent Leverage and the Corporate Playbook, we study theory and examples of how intellectual property leverage strategically informs corporate transactions and decisions, for established companies as well as for start-ups. In unit 3, Limits and Alternatives to Patents, we confront the recent legal trend toward reigning in the power and scope of patents. We also consider the growing importance of data as a proprietary technology asset, and discuss options for adapting intellectual property strategy appropriately.
Throughout, students will learn and practice applying the concepts we learn to decision-making in examples based on innovative real-world technologies and businesses. The course is designed to meet the needs of future managers, entrepreneurs, 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 discussions are mainly based on strategic not technical issues. Hence, a technical background is not required for fruitful participation. Despite the press accounts about the "gig" economy, the Bureau of Labor Statistics calculates that about 92 percent of the people working in the US are employees who are supervised by someone.
That figure has remained roughly the same for decades. The term "supervisor" is sometimes used for the first-level of supervision in an organization, but in fact that role - and indeed the title - goes all the way up to the very top of any employer organization.
Even CEO's are the supervisor of their direct reports. When people talk about their "boss," they are almost always referring to the person who supervises them. Supervisors are the central actors in accomplishing work tasks, especially in projects where they also have autonomy over what is done and how it is done.
They have an extraordinary amount of power and influence over their direct reports and considerable responsibility toward them. There is considerable truth to the aphorism that people quit bosses, not organizations, as employee dissatisfaction with supervisors rates as one of the leading causes of turnover. There is little doubt that a bad boss can make the life of a subordinate miserable, while a good boss can do the opposite, i. Being a supervisor is not the same as leading a team of peers.
Supervisors have formal authority over subordinates that we never have with peers. Supervisors also have decisions they cannot delegate, and are personally accountable for them. Stepping into a supervisor position is challenging, especially so when it comes with a promotion in the same organization having to manage direct reports who were peers. In this class, we examine the role of the supervisor and the unique tasks associated with performing that role.
Supervisors have authority, both given to them by the organization and by law. They also have obligations to subordinates backed by law. Legal obligations differ across countries although most of them are similar across common law countries. The important tasks they must perform include: -Hiring their subordinates -Assigning work to them -Directing that work telling them how to do it -Assessing that performance and rewarding it with merit pay and other compensation -Improve performance and deal with struggling workers -Dealing with disruptive and problem employees -Develop subordinates' skills and help manage their career -Helping subordinates "fight fires", i.
In contrast to earlier periods in business history, individuals are now likely to move into supervisory roles without any training from their employer. This class fills that practical concern as well as addresses the unique conceptual issues associated with having formal authority.
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". 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.
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. This course addresses issues faced by later stage VC backed firms, while MGMT centers on early stage, pre-revenue startups.
It is recommended students take MGMT before enrolling in this course. The format of this course relies heavily on site visits and recognized leaders within the Bay Area to bring forth on-the-ground perspectives of a changing and important industry.
While MGMT is not a prerequisite, the two courses are complementary. Other Information: Requirements: Individual participation in lectures, discussions, and company visits, student presentations, and final paper. Regardless of whether you have an appetite for power or disdain it, power and politics are likely to play an important role in your career.
The purpose of this course is to introduce you to concepts that are useful for understanding, analyzing, and developing your political skill. But beyond discovering ways to extend your own power 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 scholarly articles, cases, exercises, assessments and simulations, we will extract a variety of lessons relevant to your role in organizations. Topics include diagnosing power in organizations, building coalitions, change management, understanding networks, coping with intolerable bosses and incivility, and downsizing.
Students will be expected to engage in field research for their coursework and final paper, and the course requires that students submit assignments for almost every class session. Thematically, this course highlights how your relationships with organizational stakeholders and an understanding of the organizational context are crucial to successfully navigating the political terrain of oganizations. Organizations are inherently political arenas that require social astuteness, and an understanding of the "rules of the game.
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. Much more is known about strategy formulation than its implementation, yet valid, sensible strategies often fail because of problems on the implementation side. This course provides you with tools to turn good strategy into successful reality. It covers the choices, structure, and conditions that enable the successful attainment of strategic objectives. Students learn from rigorous academic research on successful implementation, as well as a series of seasoned business leaders who will visit to share their own experience from the front lines.
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. Recommended background in 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. 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. You can strike up a conversation about it; you can use your knowledge and invest wisely.
Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.
Please sign me up for program updates and other learning opportunities. Share Article:. Google Classroom:. Leave a Reply Cancel reply Your email address will not be published. Related Articles. Stay Updated Please sign me up for program updates and other learning opportunities. I am a: Select We've acquired one company and are in the process of acquiring another. I really liked the program a lot. I enjoyed the diversity of topics that were covered. Most importantly, we received not only basic strategy but a lot of practical guidance.
For example, Professor David Wessels — who literally wrote the book on valuation — created the Key Value Driver equation representing how he thinks about value in companies, and why. I was able to take that home and use the KVD equation in my next valuation.
I started thinking about exactly what our ROIC and WACC are at the Ott Group, and it drove me to a broader realization about how high the cost of equity can be for a profitable company. They shared anecdotes of actual deals, their thought processes, and the outcomes. In addition, the other course participants made a lot of very valuable comments. It was a global, diverse group that had great experience and insight into real deals. I would give the course a 10 out of 10 and I highly recommend it.
I absolutely loved the Mergers and Acquisitions program. It certainly exceeded my expectations. One of the things that I enjoyed most was the quality of the faculty. There are schools where you might be talking to a Nobel Prize winner who wrote all the books on the subject, but if they don't know how to teach, then the value is not there, in my opinion. I take my hat off to all of them. The negotiation session was remarkable. I also very much enjoyed the session on divestitures because it's what I have been working on over the last couple of years.
I really appreciated the fact that all the group sessions were broken out into different teams, which allowed everyone to meet each other. The mix of people was amazing: we had CEOs, CFOs, operations people, finance individuals, venture capitalists, lawyers.
It was very enriching to speak with people from different industries, functional levels, and geographies. Another nice takeaway was the great network we all walked away with. I would enthusiastically recommend the course to people in the industry and in similar positions where they will touch any aspect of a merger, acquisition, or divestiture during their careers.
I am an equity partner at Harbourfront Wealth Management. I own a practice here as well and run a team out of Vancouver. For finance and business, Wharton is known as one of the best schools in the world. Both Warren Buffett and Elon Musk studied there. The tools and awareness have already made me a much more potent business leader.
They say that you learn 20 percent from reading information and 80 percent from actually doing — Professor Shell has a great combination of classroom lectures and hands-on learning, simulations, and real-life case studies.
In the negotiation workshop I was able to bring back a growth mindset and much more collaborative approach to how I do business deals. I lead a strategy and market intelligence consulting firm that serves the energy market in Calgary, Alberta. My focus is on helping my clients achieve their growth goals and targets. And it will always be one of the ways companies choose to grow. Wharton has given me a much better grounding into this important growth strategy. The most relevant part of the program for me was the full-day negotiation workshop — it gave me insights that I could apply right away since negotiation is a big part of my job.
Sometimes you have to find common ground among family members and sometimes you have to negotiate with other advisers.
0コメント