Management
Please note: Before scheduling classes, check with the department to determine the availability of courses for the upcoming semester or visit the Management website.
The Management major develops students' knowledge and expertise to manage complex, established enterprises or guide start-up enterprises in their formative years. The department encompasses strategic and entrepreneurial management, as well as the management of people and organizations across national and cultural borders. It offers a general major in Management, as well as focused majors in Entrepreneurial Management, Human Resource & Organization Management, Multinational Management, and Strategic Management. Majors in Entrepreneurial Management, Strategic Management, and Multinational Management can count some courses outside the department toward their major requirements. The general Management major provides the flexibility of choosing courses across different areas of interest within the department.
Majors are available in the following fields:- Entrepreneurial Management
- Human Resource and Organizational Management
- Management
- Multinational Management
- Strategic Management
- Human Resource and Organizational Management
ENTREPRENEURIAL MANAGEMENT
Growing businesses that want to remain competitive are increasingly seeking individuals who possess entrepreneurial skills and innovative thinking. The Entrepreneurial Management major provides MBA students with the analytical tools and experiences to prepare them for careers that leverage their "entrepreneurial mindset," whether in a corporate setting, a family business, or at an early stage firm. The special strength of this program is that it combines theory with practice, providing students the opportunity to test strategies learned in the classroom by developing real business plans either of their own or for an established company. At all times - in the classroom, through field projects and via optional co-curricular activities such as the Wharton Business Plan Competition - students gain access to and insight from leaders in the entrepreneurial business community worldwide.
Requirements for the majorThe major consists of five credit units. Only one credit unit of pass/fail coursework can be counted toward the major.
- a) One credit unit (1 cu) of the Management Core ( any combination of MGMT 621, MGMT 652, MGMT 654, MGMT 655).
b) MGMT 801, Entrepreneurship, (.5 cu) is required for the major. Students are strongly encouraged to take this course before the entrepreneurial courses listed in section (c) below.
c) Three and a half credit units (3.5 cu) of the following:*MGMT 806 and MGMT 810X apply a common theoretical framework to businesses with differing value propositions and therefore students should not plan their course of study to include both of these courses.
**Only 1cu of MKTG 890, Global Consulting Practicum, can be counted toward the major
- d) One of the following may be substituted to meet the requirements for the Entrepreneurial Management Major:
Advisor: Ms. Clare Leinweber (telephone: 215.746.6453; email: leinwebe@wharton.upenn.edu)
HUMAN RESOURCE AND ORGANIZATIONAL MANAGEMENT
The Human Resource and Organizational Management major is designed to educate students in the leading edge of theory and practice associated with the management of employees and the design of organizations. It spans topics from understanding the behavior of individuals and groups to designing management systems and structures to support business strategy. It serves students with a range of career objectives: (1) those who seek leadership positions focusing on employees in organizations; (2) those interested in consulting in the area of organizational effectiveness or management consulting more generally; and (3) those interested in balancing a more technical academic and business backgrounds with greater depth in understanding behavioral and management expertise.
Requirements for the Major (only one credit unit of pass/fail coursework can be counted toward the major.)- a) Human Resource Required Courses:
- MGMT 621 Management of People at Work (.5 cu)
- MGMT 751 Strategic Management of Human Assets (.5 cu)
- b) Plus three (3) credit units of the following:
- MGMT 671 Executive Leadership
- MGMT 691 Negotiations
- MGMT 740 Leading Effective Teams
- MGMT 773 Managing Organizational Change
- MGMT 777 Power, Influence, and Transformational Leadership
- MGMT 788x Governance and Management of Chinese Firms (.5cu)
- MGMT 802 Innovation, Change, & Entrepreneurship (.5 cu)
- MGMT 892 Advanced Study Project in Management
- MGMT 691 Negotiations
MBA Advisors: Peter Cappelli (telephone: 215.898.2722; email: cappelli@wharton.upenn.edu) and Sigal Barsade (telephone: 215.898.1373; email: barsade@wharton.upenn.edu)
This major allows a student to flexibly choose among the full set of the department’s offerings. As a consequence, students can mold a curriculum that spans issues of managing the internal processes of firms and considerations of strategic advantage—for both young and growing, as well as established organizations. Students will have the opportunity to develop a background that will make them well suited to general management and leadership positions in firms and to serve these firms in advisory roles with leading consulting firms. This major cannot be taken in conjunction with one of the other majors offered by the department.
Requirements for the Management MajorThe major consists of five credit units (only one credit unit of pass/fail coursework can be counted toward the major.)
- a) Up to one credit unit (1 cu) may come from the Management Core (MGMT 621, MGMT 652, MGMT 654, MGMT 655).
- b) The remaining four credit units can be fulfilled by any of the department’s electives.
MBA Advisors: Peter Cappelli (telephone: 215.898.2722; email: cappelli@wharton.upenn.edu), Sigal Barsade (telephone: 215.898.1373; email: barsade@wharton.upenn.edu), and Lawrence Hrebiniak (telephone: 215.898.8254; email: hrebiniak@wharton.upenn.edu)
The premise underlying the MBA program in multinational management is twofold: (1) A large majority of MBAs will have management careers in firms that compete in global markets, and (2) MBAs who achieve positions of leadership in those firms will be able to manage effectively in both national and international arenas. The purpose of the multinational management program is the preparation of students for management positions in international companies ranging from small firms to global corporations, and for administrative positions in government agencies and international organizations that have responsibilities relating to multinational business. As a result, this major focuses on the management of international firms that must operate in worldwide and heterogeneous national environments under conditions of economic and political risk.
Requirements for the Major (only one credit unit of pass/fail coursework can be counted toward the major.)- a) Multinational required courses
- MGMT 655 Global Strategic Management (.5 cu)
- MGMT 715 Geopolitics (.5 cu)
- b) Either
- MGMT 871 Multinational Business Policy
- MGMT 875 International Comparative Management
- (If MGMT 871 or 875 are not offered, an international functional course may be substituted with the approval of the Multinational Management faculty.)
- MGMT 894 ASP for Multinational anagement
- MGMT 875 International Comparative Management
-
c) Three (3) credit units from any other international courses in functional fields such as Finance, Marketing, OPIM, BPUB or Legal Studies and Business Ethics (or two credit units if both MGMT 871 and MGMT 875 are taken). LBS and INSEAD courses may be permitted with permission. MGMT 656 Global Immersion Program (.5 cu) may be counted toward the major.
Advisor: Dr. Mauro Guillén(telephone: 215.573.6267; email: guillen@wharton.upenn.edu)
This major provides students with a deep grounding in the basic logic of competitive advantage, premised on a careful analytical treatment of the distinct qualities and positions of individual firms and an understanding of broader competitive dynamics. This background would position students well for guiding strategy at both established and emerging enterprises, as well as prepare them for positions with consulting firms that work with firms in setting their strategies.
- Requirements for the Major (only one credit unit of pass/fail coursework can be counted toward the major.)
- MGMT 654 Competitive Strategy (.5 cu)
- MGMT 655 Global Strategic Management (.5 cu)
-
Course requirements for a Strategic Management major include four credit units from the following:
- At least three credit units must come from the following list:*
- MGMT 653 Field Application Project
- MGMT 701 Strategy and Competitive Advantage
- MGMT 711 Competitive Strategy and Industrial Structure
- MGMT 714x American Business History
- MGMT 717x Deals: The Economic Structure of Transacting and Contracting
- MGMT 721 Corporate Development: Mergers and Acquisitions
- MGMT 731 Technology Strategy (.5 cu)
- MGMT 782 Strategic Implementation
- MGMT 784 Managerial Economics and Game Theory (.5 cu)
- MGMT 801 Entrepreneurship
- MGMT 871 Multinational Business Policy
- MGMT 891 Advanced Study Project in Strategic Management
- MGMT 925 Seminar in Corporate Strategy (only with permission)
- MGMT 701 Strategy and Competitive Advantage
-
You may only count up to one credit unit from the following list:*
- MGMT 715 Geopolitics (.5 cu)
- MGMT 751 Strategic Management of Human Assets (.5cu)
- MGMT 773 Managing Organizational Change
- MGMT 802 Innovation, Change & Entrepreneurship(.5 cu)
- MKTG 777 Marketing Strategy
- MKTG 890 Global Consulting Practicum (1.5 cu) (if approved by Strategy Advisor)
- OPIM 666 Information/Industry Structure and Competitive Strategy (.5 cu)
- OPIM/MGMT 690 Managerial Decision Making
MBA Advisor: Nicolaj Siggelkow (telephone: 215.573.7137; email: siggelkow@wharton.upenn.edu)
MGMT 621 (.5 cu)
Management of People at Work
Description: See description in Core section.
MGMT 625
Corporate Governance, Executive Compensation and the Board (.5 cu)
Description: The course will be of interest to student/future general managers involved in the design and implementation of compensation strategies within firms, and will equip students with tools to manage and participate in these systems in a variety of organizational settings. The class will also be considering the role of the board of directors in implementing compensation strategies, we well as the selection and succession of top management. The objective is to provide a general framework for describing and analyzing organization problems in relation to corporate governance, executive compensation and the board of directors.
Format : See instructor
Prerequisite : MGMT 621 or equivalent
MGMT 652 (.5 cu)
Foundations of Leadership and Teamwork
Description: See description in Core section.
MGMT 653
Field Application Project
Description: Description: This course is unique since there are no classroom meetings; all meetings are held in the professor's office in small groups of 4 to 6. Student teams work with faculty and host managers to construct innovative solutions to real-time issues. Solutions are integrative and cross-functional in nature. The course encourages creative thinking and uses cutting-edge ideas like game theory, measuring changes to brand equity, and non-market cap equity indexing. An emphasis is placed on teaching students how to frame unstructured business so as to convince others. Some projects are with non-profits, particularly those in microfinancing and the arts. For more information, see the FAP website. br>
Format: Teams (4 - 6 members) meet with faculty on a weekly basis (30 - 45 minutes). There will also be 3- 5 meetings with host managers. In addition to meeting with their Faculty Head, students are given access to area of expertise faculty. These faculty members are chosen based on their prime research areas. Students are given access to the most up-to-date models and information. Weekly team meetings with faculty project head and a final PowerPoint report and presentation.
Prerequisites: None.
MGMT 654 (.5 cu)
Competitive Strategy
Description: See description in Core section.
MGMT 655 (.5 cu)
Global Strategic Management
Description: See description in Core section.
MGMT 671
Executive Leadership
Description: Leaders mobilize resources towards valued goals. In this course, the focus is on growing the student's capacity as a total (whole) leader. Performance and results are our central concern. In response to the demands and opportunities in today's business environment, we extend beyond work to develop leadership in the context of the student's whole life. The core idea is that leadership is about making a difference in all aspects of one's life. This course provides leadership and communication tools needed to integrate work, family, community, and self for increased performance and enriched lives. Students learn key leadership principles and apply them in self-designed experiments to better meet their current and future leadership challenges.
Format: In addition to readings, this course requires introspection, dialogue, and creative action in the real world that involves work, family, community and self.
MGMT 690/OPIM 690
Managerial Decision Making
Description: See Operations and Information Management OPIM 690.
Negotiations
Description: See Legal Studies LGST 806.
MGMT 701
Strategy and Competitive Advantage
Description: 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 new concepts that have been developed around the notions of complementarities and fit. Other topics covered in the course include the creation of competitive advantage through commitment, competitor analysis, different organizational responses to environmental changes, real options, modularity, and increasing returns. An important feature of the course is a term-length project in which groups of students work on firm analyses that require the application of the course concepts.
Format: Strong emphasis on class discussions based on prescribed readings and cases. Project presentations by student groups. Informed participation in class discussions; a paper and a presentation on the term project.
MGMT 711
Competitive Strategy and Industrial Structure
Description: 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.
Format: To be determined by instructor.
Prerequisite: MGMT 654
MGMT 712
Managing Interfirm Alliances
Description: This course addresses key strategic and organizational considerations involved in the creation and management of interfirm strategic alliances. In recent years, there has been a surge in the number of alliances between firms in response to globalization, technological change, deregulation, and shortened product life cycles. Interfirm alliances are cooperative arrangements between firms that are created to fulfill a shared strategic goal by pooling organizational capabilities. These cooperative arrangements vary in terms of commitment, equity investment, degree of control and scale. Both the formation and management of strategic alliances will be discussed. Other topics include alternatives to strategic alliances (e.g., acquisition), the impact of these alliances on competition within an industry, and regulatory constraints.
MGMT 714x
American Business History
Description: 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 will be a number of comparisons in discussion to institutions in Japan and the leading European economies. The course considers issues arising in a number of different management disciplines and shows off their inter-relationships.
Format: Case and other document-based discussion and occasional lecture, research paper or examination and class participation.
Prerequisites: MGMT 654.
MGMT 715 (.5 cu)
Geopolitics
Description: To deal with the complex and turbulent international environment, a manager requires both a basic conceptual framework which can inform and order political and economical events and an understanding of how the international political economy actually affects strategy. Geopolitics explores the structure and evolution of the international political-economic system and then applies a basic model to several critical issues areas such as the European Union, technology policy, strategic alliances, and national competitiveness. The emphasis of the course is on implications for multinational strategy.
Format: See instructor.
MGMT 717x
Deals: The Economic Structure of Transacting and Contracting
Description: This course focuses on the role of professionals in creating value through transaction engineering. The overall goal of the course is to explain how private parties actually order their commercial interactions and to develop a relatively systematic theory of how they ought to do this. The first half of the course will be devoted to impediments to transacting including asymmetric information problems, difficulties intrinsic to contracting over time, enforceability, and various forms of strategic behavior and to a variety of possible responses rooted in decision theory, option theory, techniques for minimizing information problems, risk management, and incentive alignment. In the second half of the course, student teams will apply the tools developed in the first half to a series of real transactions. That part of the course will be described in a separate memo to be circulated once the roster of deals is fixed. Enrollment will be restricted this year to 48, of whom 24 will be second-year MBA students and 24 will be upper class Law students.
Requirements: Team performance, class participation, and a final exam.
Prerequisites: Class reserved for 2nd year MBA students.
MGMT 721
Corporate Development: Mergers and Acquisitions
Description: This course will explore the use of corporate acquisitions as a method of affecting substantial changes in the business mix of large corporations. The course will focus on the impact of acquisitions on the acquiring firm and the target firm involved in the transaction. Equal attention will be devoted to theoretical issues and their managerial implications. A conceptual framework with theoretical underpinnings will be presented as a basis for understanding of the phenomenon. Then managerial issues involved in implementing such transactions will be examined. Topics to be covered will include diversification strategy, competitive bidding, joint ventures, contractual arrangements, leveraged buyouts, and the concept of corporation governance. In each of these topics, both organizational and economic issues will be dealt with. The conceptual framework of the course will be developed as follows: first the implications of the major merger waves will be interpreted, to put the acquisition phenomenon in perspective; then a theoretical framework incorporating the incentives for firms to acquire or set up joint ventures will be developed. Preacquisition issues, such as selection of an appropriate target firm and the determinants of the premium will be covered. Cases and readings will be used to address the organizational and managerial issues in the post-acquisition process. Finally, areas such as negotiation strategies and choice of alternative modes of corporate governance will be addressed. In this context, the currently visible phenomenon of leveraged buyouts and its implications can be examined. To incorporate a level of realism in the course, speakers with experience in investment banking, consulting, and government will be invited.
Format: Two written assignments and a final paper.
Prerequisites: None.
MGMT 731 (.5 cu)
Technology Strategy
Description: This course presents tools necessary for managing businesses involved in or affected by technological innovation. It does so by developing and applying conceptual models concerned with creating, capturing, and delivering value. The course is designed to meet the needs of future managers, entrepreneurs, bankers, or consultants who must understand the interactive role of technology and organization to derive competitive advantage. The first half of the course focuses on analytic frameworks for managing the innovation process. This segment examines the patterns and sources of technological change and the mechanisms for capturing the economic benefits from innovation. The second half of the course studies the strategic and organizational challenges involved in managing technological innovation. Case studies throughout the course will offer opportunities to apply the frameworks.
Format: Lectures, active class participation, and term paper.
Prerequisites: Wharton MBA students only.
MGMT 736x (new course in 2006-07)
Inside Indian Business
Description: This project-oriented course focuses on Indian business. There are several themes underlying the course: the nature of the economic reforms of 1991, and how established Indian firms, particularly Indian conglomerates adapted during the 1990's to the changed competitive landscape; software services and the remarkable global success of several firms, and their contemporary globalization challenges; the experience of MNC's in India, with a particular emphasis on innovative business models (including the bottom of the pyramid models); telecommunications; and a comparison of China and India, and the convergences and divergences between them. The emphasis is integrative, and the course builds upon several required first year courses in Management. The main perspective of the course spans several subfields of Management: Organization Behavior and Theory, International Management, Human Resources, Technology and Strategy.
Format: The class will involve a mix of lectures, cases, and guest speakers, group term paper on a topic relation to India business (65% of grade), and class participation (35% of grade).
Prerequisites: MGMT 621, MGMT 652, MGMT 654, MGMT 655
MGMT 740
Leading Effective Teams
Description: This course is designed to develop students' skills in effectively designing, leading and consulting to teams in organizations This will be a highly interactive course, with emphasis on class participation and experiential learning. One of the goals of this course is to provide both the conceptual understanding and the behavioral skills required to implement strategies. To this end, class sessions will make use of a variety of approaches to teaching and learning, including the case method, simulation exercises and lectures. We will cover topics such as leading groups, group formation and socialization, diversity, creativity, group problem solving and decision-making, conflict, and knowledge sharing. Students will leave this class with knowledge of how to most effectively lead a team as well as how to be an effective team member.
Format: The class will involve a mix of case discussion, simulations, lectures, and exercises. Class participation is an important component and will represent a significant portion of a student's grade. The course is project based. The major assignment will consist of a small group project where students will build a consulting relationship with an actual team within a "live" organization. The goal of the assignment will involve collecting primary data from the client team to help identify positive and negative elements of team functioning in order to make appropriate recommendations to help improve team performance.
Prerequisites: None.
MGMT 751 (.5cu)
Strategic Management of Human Assets
Description: This course introduces the student to the strategic role human resource management might play in creating competitive advantages for firms. We study P/HRM policies and practices in context and consider broader corporate strategies, business activities, and competitiveness in an increasingly global marketplace. We give attention to the diversity of the American workforce, and to the effects of changing technologies in production and in provision of services.
Format: This course covers specific activities typically associated with the practice of P/HRM: staffing, the assurance of equal employment opportunity, compensation and employee relations. The final section of the course comprises customized readings and programs for study based on student interest. These modules will include interaction with practitioners where possible.
Prerequisite: MGMT 621 or equivalent.
MGMT 773
Managing Organizational Change
Description: 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 management careers, although not limited to them). This course focuses on specific concepts, theories and tools that can assist executives entrusted with the task of leading organizational change. Among other topics, the course will focus on the politics of change, successfully leading change efforts, downsizing, restructuring and reengineering, and organizational adaptation. An emphasis on both analytical and clinical skills will undergird the course content.
Format: The class will involve a mix of case discussion, outside speakers, lectures and exercises. Participation is an important component, making attendance important. The course is project based. The major assignment will consist of a small group project working on a real 'live' organization that is undergoing change and drawing lessons from such involvement in the field.
Prerequisites: MGMT 621.
MGMT 782
Strategic Implementation
Description: This course is directed toward the attainment of three 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; and (3) to develop a sensitivity to the "realities" of strategy implementation in "real world" organizations. Consideration of theories of implementation is not sufficient; it is necessary also to see strategy implementation as a process of change that, to be successful, must take a number of factors into consideration. These include how decisions affect individuals in organizations and their consequent commitment to implementation efforts. To meet these objectives, emphasis will be on lectures, class discussions, and case studies as the instructional techniques.
Requirements: Participation in class discussions, final examination, and case assignments.
Prerequisites: MGMT 654 or permission of instructor.
MGMT 784/BPUB 784 (.5 cu)
Managerial Economics and Game Theory
Description: 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).
Requirements: Active class participation and term paper.
Prerequisites: MGEC 621 (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.
MGMT 788x (.5cu)
Governance and Management of Chinese Firms
Description: This course provides brief but intensive examination of some of the largest business firms in the Peoples Republic of China. From 1949 to 1988, business firms as we know them did not exist in the PRC. In 1988, independent legal status was granted to state-owned enterprises, which were made responsible for profits and losses; in 1993, state enterprises were redefined as business corporations, and private businesses were allowed to incorporate as limited liability or stockholding companies. China's economy has grown rapidly since, but the development of Chinese firms has been uneven. A few have large domestic market share and are global competitors, but most outside of industries like electrical power, petroleum, and telecommunications remain regional competitors at best and are small by Western standards. The governance of Chinese firms remains work in progress. Repeated reforms aimed at corporatizing firms while preserving state control have created extremely complicated ownership and governance practices, which differ from industry to industry and from region to region. This course will acquaint students with the governance and management of some of the largest and best known Chinese firms, and with the capabilities and liabilities of Chinese firms and hence their strategic options. It will provide students tools needed to assess the investment potential of Chinese firms and the opportunity to do original research on issues of governance and management of Chinese firms.
Format: Lectures. Grading will be based on short papers, group reports, and class participation.
MGMT 801 (.5cu)
Entrepreneurship
Description: MGMT 801 is the foundation course in the Entrepreneurial Management program. The purpose of this course is to explore the many dimensions of new venture creation and growth. While most of the examples in class will be drawn from new venture formation, the principles also apply to entrepreneurship in corporate settings and to non-profit entrepreneurship. We will be concerned with content and process questions as well as with formulation and implementation issues that relate to conceptualizing, developing, and managing successful new ventures. The emphasis in this course is on applying and synthesizing concepts and techniques from functional areas of strategic management, finance, accounting, managerial economics, marketing, operations management, and organizational behavior in the context of new venture development. The class serves as both a stand alone class and as a preparatory course to those interested in writing and implementing a business plan (the subject of the semester-long course, MGMT 806).
Format: Lectures and case discussions, class participation, interim assignments, final project
Prerequisites: Wharton MBA students only.
MGMT 802 (.5 cu)
Innovation, Change, & Entrepreneurship
Description: This course will provide 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 a group innovation plan for an actual innovation situation.
Format: Lectures, discussion, class participation.
Prerequisites: Wharton MBA students only.
MGMT 804 (.5 cu)
Venture Capital and Entrepreneurial Management
Description: 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 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 entrepreneur and the venture capitalist in anticipation of a venture investment
• The challenges of fundraising, financing strategies and the importance of the business plan and presentation
• 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 venture-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 studies, class participation, weekly case assignments, and final exam.
Prerequisites: MGMT 801 recommended.
MGMT 806
Formation and Implementation of Entrepreneurial Ventures
Description: 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 MGMT801 before enrolling in this course.
Format: Highly interactive with team progress reports delivered regularly and student expertise shared with presenters. Class participation, interim assignments, team project, and team presentation.
Prerequisites: MGMT 801 REQUIRED. MKTG 756 recommended.
Special Note: MGMT 806 and MGMT 810x apply a common theoretical framework to businesses with differing value propositions; therefore, students should not plan their course of study to include both of these courses.
MGMT 809 (.5 cu)
Private Equity in Emerging Markets
Description: This course is designed to provide students with a practical understanding of private equity issues focusing on developing country environments. The underlying premise of the course is that private equity in developing country environments 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 effect PE investor behavior and performance. Cases will be based on actual transactions, highlighting 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.
Requirements: Two group and one individual written assignments and active class participation.
Prerequisites: Completion or waiver of FNCE 601.
MGMT 810x
Societal Wealth Venturing
Description: The basic thesis of this elective course is that many societal 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, and also from "social entrepreneurship" programs where social wealth creation is a by-product rather than the target of the entrepreneurial effort. Student teams are expected to develop a plan to launch a societal wealth generating business. The preference is for them to begin the course with already conceived ideas for entrepreneurial solutions to social problems. They may also join a team to work on a project proposed by a student who already has a business idea.
Format: Lecture, classroom participation, live case studies (presentations of students' own work), interim assignments, and final business plan.
Prerequisites: MGMT801 strongly recommended.
Special Note: MGMT 806 and MGMT 810x apply a common theoretical framework to businesses with differing value propositions and therefore students should not plan their course of study to include both of these courses
MGMT 811 (.5 cu)
Entrepreneurship Through Acquisition
Description: MGMT 811 focuses on theoretical and practical issues of acquiring a business. The class focuses on the following topics: locating a business, obtaining information on the entity, reviewing and analyzing data, valuation, financing the deal, and the actual acquisition process in terms of structuring the acquisition. Substantial time throughout the class will be spent on adding synergy to any potential acquisitions.
Format: The class consists of lectures as well as in-class presentations from the students, assigned readings, case studies, and a group project.
Prerequisites: MGMT801 strongly recommended.
MGMT 815/LGST 809
Sports Business Management
Description: See Legal Studies LGST 809
MGMT 816x (new course in 2006-07)
Building Human Assets in Entrepreneurial Ventures (.5 cu)
Description: This course explores issues pertaining to building and managing human assets in a high-growth entrepreneurial setting. The purpose of this case-driven course is to develop the skills necessary to think systematically and strategically about management of human assets in an entrepreneurial firm and to develop the competencies necessary to design and implement human resource systems that support entrepreneurial 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.
MGMT 833
Strategies and Practices of Family-Controlled Companies
Description: 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 a family firm.
Format: The class is structured around topical lectures with frequent utilization of case studies requiring active participations 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.
MGMT 846/LGST 804/REAL 804
Real Estate Law
Description: See Legal Studies LGST 804
MGMT 871
Multinational Business Policy
Description: 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 versus non-global industries and strategies that have been successful in a global context. The course also considers issues regarding make versus 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.
Format: See instructor.
Prerequisites: See instructor.
MGMT 875
International Comparative Management
Description: This course covers how firms from the U.S., 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.
Format: Conceptual and theoretical readings will be introduced in class by the professor and serve to frame the class discussion of the cases, short analyses of cases, a brief group exercise, and a final examination.
MGMT 891 (0.25cu)
Curricular Practical Training
Description: Also listed as MGMT 891:900. This class has been developed for MBA students who are about to enter their second year and who will be doing a summer work internship in a country other than their home country or will be doing an unpaid summer work internship. Students enrolled in MGMT 891 will undergo an assessment of their leadership and communications skills followed with daily lessons and assignments in developing areas of need. These lessons focus on areas such as: managing work and time effectively, effective communication, and identifying and developing talent. Through the lessons and assignments, students are testing their learning while at work, incorporating successful lessons and refining or discarding others. The goal of this course is to make students more aware of their behaviors as well as to shape their behavior for greater impact and efficacy. The course focuses on two of the following key learning areas (which two depends on the placement test results).
- 1. Managing Work and Time Effectively
- 2. Focus on Results
- 3. Effective Communication
- 4. Engaged Listening
- 5. Constructive Conflict Resolution
- 6. Rapport and Diplomacy
- 7. Negotiating
- 8. Business Knowledge
- 9. Assessing and Growing Talent
- 10. Inspiring Peak Performance
- 11. Strategic Thinking
- 12. Balanced Leadership
- 2. Focus on Results
Format: Online course; daily assignments. Introduction and placement module, skill-based modules equaling 40 total lessons. The number of modules will vary based on the amount of lessons within your chosen modules; however, you must complete 40 total lessons. Please note that each module contains a mid-term and final test. Prerequisite: Attendance at orientation seminar in late spring.
MGMT 891
Advanced Study Project for Strategic Management
Description: 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 department number on the registration form. Students may see the assistant for course scheduling in the Management Department to receive section numbers. If the proper approval is not obtained, registration is not valid.
MGMT 892
Advanced Study Project for Human Resources Management
Description: ASP topics can be individually selected by the student with the advice and consent of a human resources faculty member with whom his/her study will be conducted. All ASP registrations require the written consent of the instructor on the registration form. Students may see the assistants for course scheduling in the Management Department to receive section numbers. If the proper approval is not obtained, registration is not valid.
MGMT 893
Advanced Study Project in Entrepreneurial Management
Description: ASP topics can be individually selected by the student with the advice and consent of any instructor in the Management Department. In addition, in any given semester, instructors in the Goergen Entrepreneurial Management Program may offer organized ASPs. All ASP registrations require the written consent of the instructor and appropriate section number on the registration form. Students should go to the Wharton Entrepreneurial Programs Office to receive faculty section numbers. If the proper approval is not obtained, registration is not valid.
MGMT 894
Advanced Study Project for Multinational Management
Description: 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 both the written consent of the instructor and department on the registration form. Students may see the assistants for course scheduling in the Management Department to receive departmental approval and section numbers. If the proper approval is not obtained, registration is not valid.
MGMT 899
Independent Study Project in Entrepreneurial Management
Description: : ISP topics can be individually selected by the student with the advice and consent of any instructor in the Management Department. All ISP registrations require the written consent of both the instructor and the Wharton Entrepreneurial Programs Office on the registration form. Students should go to the Wharton Entrepreneurial Programs Office to receive faculty section numbers. If the proper approval is not obtained, registration is not valid.