Leadership & Ethics - Modules 1 & 2
Leadership and Ethics is a program of educational events designed to help first-year students in the master’s programs master skills and concepts that will enhance their management education. They are an integral part of the professional master’s program at Krannert. Every Leadership and Ethics program is explicitly lined to the intellectual and professional development goals of the program. Leadership and Ethics is used to integrate topics covered in multiple core courses, enable hands-on experimentation, role playing or other exercises and simulations, or preview and use new management technology. Leadership and Ethics also introduces new topics or examines current issues that are not covered in core or elective courses, such as ethics, international management, diversity training, or entrepreneurship. The Leadership and Ethics programs are held on Fridays.
Accounting for Managers
Accounting is a language that is used to tell complex financial stories. The accounting information can also be used to analyze complicated decisions. The main objective of this course is to enable consultants, investment bankers, managers at all levels to appreciate, understand, and use the accounting numbers. The major focus of the class is acquiring an understanding of the financial (external) reporting process. Financial reports are prepared in accordance with domestic generally accepted accounting principles (GAAP). While GAAP are the product of a country’s regulatory processes, enough commonality exists across countries to allow us to understand the rudimentary financial reporting practices of most countries. The class will also introduce managerial accounting concepts or internal accounting methods. Internal accounting reports provide information for managerial decision-making, planning and performance evaluation. Unlike financial accounting, managerial accounting is not constrained by externally imposed rules or regulations; however, a widely accepted set of frameworks exist.
Managers encounter data daily and regularly base their decisions on it. This course in business analytics develops important skills in data analysis, modeling, and decision making under uncertainty. It is designed to train students to use valid inferences data to inform their decisions. The topics covered in the course include exploratory data analysis, probability, decision analysis, estimation, simulation, hypothesis testing, and regression analysis. Business Analytics emphasizes applications of analytical techniques through its lectures, homework assignments, case analysis and discussions, and computer exercises. Effort is made to translate the statistical results into language understood by non-technical audience and similar communication is expected from students.
Managerial Communication Skills - Modules 1 & 2
During the first two modules, the core course in Managerial Communication provides students with the opportunity to develop presentation skills appropriate for an executive-level audience. Each opportunity has its own set of challenges. Students learn to develop a strong presentation in terms of content, organization, delivery, visuals, and audience awareness. If a student is a confident presenter, skills are sharpened; if a student is uncomfortable speaking in public, skills and self-confidence are given a boost. Self-evaluation and evaluation of peers are encouraged. Since this course has a maximum of 15 students per section, students are given the chance to grow and improve in a workshop environment. Additionally, communication and presentation issues relevant to today’s business professional are discussed in the course.
This course addresses a selected set of topics focusing on understanding human and organizational processes that facilitate or hinder work performance. The emphasis is on human behavior in relation to management practices with special emphasis on teamwork. What is it that we do as managers that help our people perform better and what do we do that gets in their way? Within this framework, we hope to: 1. Expose you to ideas and literature that will enrich your thinking about these topics; 2. Give you an opportunity to apply some of these ideas to your work experience & cases; and 3. Provide a forum for exploring these issues with other students.
This course covers microeconomic concepts relevant to managerial decision making. Topics may include: demand and supply analysis; consumer demand theory; production theory; price discrimination; perfect competition; partial equilibrium welfare analysis; externalities and public goods; risk aversion and risk sharing; hidden information and market signaling; moral hazard and incentives; rudimentary game theory; oligopoly; reputation and credibility; and transaction cost economics.
This course is an introduction to Financial Management. As such, the course addresses the two basic financial problems that all companies face: (1) On what should funds be spent (i.e., investment decisions)? and (2) From where should funds be obtained (i.e., financing decisions)? Specific topics include financial statement analysis, financial planning, stock and bond valuation, project analysis (i.e., capital budgeting), estimating the cost of capital, understanding capital structure, and estimating firm value. Readings, case analyses, and problem sets focus on the basic tools used by financial analysts and financial decision makers.
An integrated analysis of major marketing decisions, including product pricing, advertising, distribution, and sales force policies.
Strategic Management is concerned with understanding how organizations might achieve advantage relative to competitors. In particular, it deals with the organization, management, and strategic positioning of the firm so as to gain long-term competitive advantage. To address this issue, we take on the role of general managers, or integrators – that is, managers who make decisions that cut across the functional and product boundaries of a firm. By focusing on what makes managers effective, we shall develop the ability to evaluate different situations and give you usable skills regardless of the business context in which you want to work. Strategic management issues that we will consider include the following: How can my firm create value (e.g., low cost or differentiation; using resources; integrating activities correctly) relative to the competition? How do other players in the industry impact the amount of value I capture from my activities? How can the firm identify new opportunities for value creation and value capture and implement those activities within the firm? How can a corporation create (rather than destroy) economic value through its multimarket activities? What options are available to a firm to successfully diversify?
As goods and services are produced and distributed, they move through a set of inter-related operations or processes in order to match supply with demand. The design of these operations for strategic advantage, investment in improving their efficiency and effectiveness, and controlling these operations to meet performance objectives is the domain of Operations Management. The primary objective of this course is to provide an overview of this important functional area of business.
Management of Information Systems
Information and information systems (IS) are vital organizational resources and constitute an integral part of managerial decision making. It is important to understand how managers can effectively utilize IS to achieve organizational goals. Accordingly, the objective of this course is to train students to identify and resolve managerial issues surrounding the use of IS in organizations. The course adopts the perspective that, in a world where the half-life of a particular hardware or software technology is often measured in months, developing intuitions about the core concepts to assess and deploy IS is more valuable to future managers than learning the intricate details of a specific technology. The focus of the course is to develop through cases, lectures, discussions, and examples insights into when and how IS can be used to create and enhance an organization’s competitive advantage. The two main areas covered in the course are: (i) implementation and acquisition of IS in an organization; and (ii) several important applications and consequences of contemporary IS.
Module 4 and Beyond
Option Area Classes
Beginning in Mod 4 you will begin to shape the rest of your curriculum with the exception of two more core classes as listed below. This is where you will start to hone your education to as specific of a topic as you wish, or continue to take a wide variety of courses. To learn more about the possible electives and courses offer under each of them, please review the option areas.
Legal Foundations of Management - Mod 5
The basic purpose of this course is to give future professional managers an insight into the structure and operation of the judicial process as it affects managerial decision making. While the course does not purport to give the student specific legal skills to solve legal problems, it does sensitize the student as to the current legal problems and pitfalls which he/she will face in the day to day management of business. It also stresses the need for managers to seek legal input during the decision making process rather than seeking a defense, after an offense has been committed and litigation commenced.
Macroeconomics - Mod 6
Investigation of the causes of macroeconomic fluctuations in the economy. Looks at changes in inflation, unemployment, real output, interest rates, and exchange rates, and explores why they occur, what their effects are, and what, if any, role government should play in dealing with these problems. A mixture of theory and case studies with reference to historical case studies. Current macroeconomic problems will be discussed with a focus on the international aspects of macroeconomic problems.