Course Descriptions

Subject to change for 1995-1996

GBUS 701, 702 - (5 3/10) (Y)
Analysis and Communication
Through a series of written and oral exercises, this course challenges the students to think imaginatively and analytically about business situations, to write clearly and persuasively, and to become effective extemporaneous speakers. The course teaches the students the fundamental uses and abuses of language and ends by challenging them to become persuasive and stylish business communicators. As the course progresses, the students learn that good communication involves sound analysis and polished presentation.

GBUS 703, 704 - (5 3/10) (Y)
Business and the Political Economy
A course in analysis, appraisal, and prediction of the international environment of business using social science concepts and techniques. Students gain an understanding of the global political economy and expertise in macroeconomic analysis of industrialized and developing countries, international trade and finance, and money and capital markets. A comparative approach is used to understand the macro and industrial policies of nation- states at various junctures in history, as well as the global strategies of corporation. The course provides a foundation in price theory and market structure as a basis for understanding the competitive forces affecting global business.

GBUS 705, 706 - (5 3/10) (Y)
Finance
Provides insights into the challenges senior managers face in creating value for shareholders and other stakeholders in the firm. Two main areas of focus are the wise investment of the firm's capital and the selection of financial policies in support of the firm's long-term strategy. The key skill Finance seeks to impart is valuation (of projects, securities, and whole firms and of the incremental effect of new policies). In support of this goal, students must master tools and concepts in: structure of capital markets, cost of capital, financial analysis and forecasting, working-capital management, capital budgeting, resource allocation, dividend policy, long-term debt policy, selection of specific financing tactics, and corporate restructuring. While Finance draws on ideas from the fields of investments, capital markets, and financial institutions, its prime emphasis is corporate finance.

GBUS 707, 708 - (5 3/10) (Y)
Accounting
This course is concerned with financial-statement literacy in regard to both external and internal financial statements. Enables students to learn the use of accounting information for analysis and decision making. Deals with basic accounting concepts, development of financial statements, cash-flow analysis, cost accounting, management control systems, and financial-accounting policies. The course's management perspective fosters understanding of the nature of business transactions; identification of relevant economic events for reporting; and determination of the most appropriate financial measures for those events. An underlying theme of the course is that accounting is not divorced from the world it is supposed to portray or from the behavior it measures and influences.

GBUS 709, 710 - (5 3/10) (Y)
Marketing
Develops the skills and insights required to build integrated marketing programs. Focuses student attention on the major forces bearing on marketing decision making-for example, consumer, trade, competitive, and regulatory behavior. These decision-making areas include product policy, channels of distribution, pricing, direct selling, advertising, and sales promotion, with emphasis on shaping these marketing elements into an effective, efficient, and responsible marketing program.

GBUS 711, 712 - (5 3/10) (Y)
Operations
Develops student skills in analysis and decision-making in a variety of operating situations. Focuses on what the general manager needs to know about managing in an operating environment. Specific objectives include (1) providing decision-making skills in those aspects of operations management most likely to be relevant to the needs of the general manager; (2) increasing skills in dealing with operating performance issues through in-depth analysis and discussion of operations-management problems in a variety of industry and business settings, including manufacturing and service industries; (3) providing managerial decision-making skills in those aspects of operations management necessary for the development and implementation of effective resource-allocation plans; and (4) providing an understanding of the role of effective systems for operations planning and control.

GBUS 713, 714 - (5 3/10) (Y)
Organizational Behavior
Focuses on the challenges of managing and leading enterprises of today and the future. Develops a useful way of thinking about behavior in organizations and the roles, responsibilities, and choices of the manager in today's complex organizational systems. Builds strong foundations in understanding individuals, in building effective working relationships, in creating effective teams and groups, as well as building the critical skills and perspectives needed to grasp the broader organizational contexts of structures and systems in which these activities occur. The challenges and opportunities presented by diversity and globalization are addressed throughout.

GBUS 715, 716 - (5 3/10) (Y)
Quantitative Analysis
Develops the skill and the perspective of artfully using quantitative techniques to gain insight into the resolution of practical business problems. Emphasis is not on the mastery of sophisticated mathematical techniques but on designing analyses to fit circumstances and on interpreting results in the context of making action choices. The most widely applicable methodologies of decision and risk analysis, probability and statistics, competitive analysis, and management science are studied and integrated with personal judgment and intuition in realistic business situations.

GBUS 717 - (2 6/10) (Y)
Ethics
Enables students to reason about the role of ethics in business administration in a complex, dynamic, global environment. Specific course objectives for students: (1) to be able to apply several important frameworks for moral reasoning to complex business issues; (2) to appreciate the role of ethics as central in business decision making; (3) to develop a general- management perspective that includes an ability to formulate, analyze, and defend decisions in ethical terms; (4) to analyze the ethical issues that appear in other Darden courses; and (5) to examine critically one's own ethics and test them in conversation with one's peers.

GBUS 800F - (1 1/2) (Y)
Concepts of Strategy
Focus is on the processes through which organizations define strategic issues (the cognitive perspective), analyze their situation (using relevant tools), and make strategic choices (the decision-making perspective). Takes a multi-level perspective, examining the frameworks available, at the level of the firm, to consider how an organization manages its relationship with its environment, and the stakeholder groups it contains. Topics include concepts of strategic "fit" and "intent", ecological dynamics, and a focus on core competencies. At the business level, the course examines industry structure and sources of competitive advantage, both traditional (e.g., cost, differentiation, and diversification) and non-traditional (e.g., learning, collaboration, and technology), and their sustainability over time. Finally, the role of functional strategies, as they link with each other and align to support corporate and business level strategy, is discussed.

GBUS 800G - (11/2) (Y)
Leading Strategic Change
Builds on the concepts introduced in Concepts of Strateg y (COS) by adding the complexities of leading strategic change. Invites students to understand and engage principles of personal and organizational change, to apply what they learned in COS, and to define and explore the personal implications of being a leader of strategic change personally and organizationally. The LSC course addresses the following topical areas: principles of individual change, principles of organizational change, leadership behaviors and models in bureaucratic and post-bureaucratic society that affect change, practical definitions and perspectives on leadership, and the interrelationship between strategy and change leadership.

GBUS 801 - (1 1/2- 7 1/2) (Y)
Directed Study Program
Provides students the opportunity to engage in independent research and inquiry in close relationship with individual members of the faculty. Students may select from an array of options (GBUS 801A-GBUS 801J). Credit for the project is determined by agreement between the student and the faculty advisor, and approval of the project by the course coordinator is needed before the project is undertaken.

GBUS 802 - (3) (Y)
Research Elective
Students may not take more than seven and one-half credits of combined Directed Study and Research Elective.

GBUS 803 - ( 1 1/2) (Y)
Health Care Management
Examines health care issues from the perspective of the individual consumer, the manager, and society as a whole. Reviews how these often conflicting perspectives have led to the rapidly changing environment in the health care industry today. Should be of value to students who are concerned about health policy, especially those with direct interest in the health care industry or those involved with the employee-benefits program of any large organization.

GBUS 804 - (1 1/2) (Y)
Introduction to Real Estate Finance and Development
Introduces students to analytical techniques and terminology peculiar to real estate development, finance, and management. Topical areas covered are: historical overview of the real estate industry; techniques of financial analysis; land development; office and mixed development; financing alternatives; current concepts in real estate development.

GBUS 806 - (3) (Y)
French for the Multinational Manager
Prerequisite: Two years of college level French and permission of instructor

Explores the particular use of the French language in economics, commerce and politics, using the intermediate level of French.

GBUS 807 - (3) (Y)
German for the Multinational Manager

Prerequisite: Two years of college level German and permission of instructor

Explores the particular use of the German language in economics, commerce, and politics, conducted at the intermediate level of German.

GBUS 808 - (3) (Y)
Spanish for the Multinational Manager
Prerequisite: Two years of college level Spanish and permission of instructor
Explores the particular use of the Spanish language in economics, commerce, and politics, conducted at the intermediate level of Spanish.

GBUS 809 - (11/2) (Y)
Advanced Managerial Communication
The second year Speech elective is designed to build on the first year course. While that curriculum asks students to establish a personal voice, construct a persuasive argument, work in groups and handle a debate format, the second year course concentrates on exercises in strategy, advanced audio visual techniques and more complex persuasive presentations. The goal of the course is to provide students with advanced skills in oral presentation. Successful management is dependent on effective communication, and participation in this course increases a student's ability to choose the most appropriate structure and tone for oral management in a variety of situations. Of the fifteen classes, one is introductory, one focuses on advanced audio visual techniques, and the balance provide a wide range of speaking opportunities. Presentations last from two to four minutes followed by class evaluation, a process in which everyone participates.

GBUS 810 - (1 1/2) (Y)
Management Control Systems (Capstone Core Course)
In this course management control is viewed as a means for implementing strategy. Explores the important elements of control systems: objectives contained in a company's strategy; organization structure which defines how functions, authority, and accountability are assigned to people; performance measures that managers use to monitor attainment of objectives; direction that is implied by performance measures; and motivation supplied by the system.Examines the ways in which congruence among the elements enhances the control system's power and effectiveness, as well as the effect that changes in the competitive environment may have on control system design.

GBUS 811 - (1 1/2) (Y)
Decisions in Financial Reporting (Capstone Core Course)
Considers significant financial reporting and accounting issues, in the context of the management decisions those issues require. Course Participants are asked to put themselves in the shoes of non-accounting management and consider how their companies should evaluate the decisions required by such classic and contemporary issues as choosing between LIFO/FIFO inventory methods, selecting the assumptions required under pension accounting, selecting a corporate structure to implement foreign exchange accounting and so forth. The course looks at many of the same topics at first year accounting, but in more depth: and considers some topics which were not discussed in the first year, such as foreign exchange and pensions. Students should not take both Decisions in Financial Reporting and Corporate Financial Reporting because the Corporate Financial Reporting course is an expanded version of the Decisions in the Financial Reporting course.

GBUS 812 - (3) (Y)
Corporate Financial Reporting
Deals with issues, concepts, and standards that have particular relevance to understanding corporate financial accounting and reporting practices. There is some international accounting content, but the major focus pertains to the U.S. Much of the course deals with contemporary issues and the search for their resolution. Emphasis is placed on both an accounting and a management perspective, as financial accounting and reporting considerations have increasingly become management concerns. The ultimate objective of this course is to provide students with a conceptual framework for understanding and analyzing corporate reporting issues and an appreciation for their significance to both management and external users of corporate financial reports. Students should not take both Financial Reporting and Corporate Financial Reporting because the Corporate Financial Reporting course is an expanded version of the Decisions in Financial Reporting course. This course can be counted as a core elective if a student wishes; however, the student must still take two other core electives in areas other than accounting.

GBUS 813 - (1 1/2) (Y)
Control Systems Implementation
Starts with a brief overview of management control systems and then pursues several areas in depth: (1) installing a planning system (which is the focus of many consulting engagements); (2) designing organization structures to fit special needs (e.g., matrix or network structures) and control systems to match the structures; (3) this course starts with a brief overview of management control systems and then pursues several areas in depth, such as: installing a planning and budgeting system. Who should do planning? What planning is appropriate at different stages of a product's or enterprise's life cycle? How do planning and control systems interact? Designing organization structures to fill special needs and control systems to match the structures.; developing performance measures to provide useful information for top management as well as guidance for managers whose performance is being measured.

GBUS 815 - (1 1/2) (Y)
Strategic Cost Management I - Activity-Based Costing
Examines the role cost information can play in strategic management decisions. Use of activity-based costing (ABC) is one way of linking cost analysis to strategy. ABC systems also enable managers to focus on managing activities efficiently and so that they add value for customers. Other ways that are studied in which cost analysis can help managers include capacity costing, target costing, and relating cost analysis to the theory of constraints.

GBUS 816 - (1 1/2) (Y)
Taxation of Mergers and Acquisitions
Prerequisite: GBUS 819
Surveys and analyzes tax issues encountered in structuring mergers and acquisitions including both taxable and tax-free formats. Includes comparison from both buyer and seller perspectives of advantages and disadvantages of sales (purchase) of assets vs. sale (purchase) of stock in taxable transactions; techniques in structuring tax-free reorganizations and spin-offs of corporate divisions and subsidiaries; and introduction to tax-driven aspects of business valuation in the M&A context and also in the context of the limiting the impact of federal estate tax on business entities seeking to structure succession of the business to succeeding generations. Taxation and Management Decisions should be completed before enrolling into Taxation of Mergers and Acquisitions.

GBUS 817 - (1/2) (Y)
Communicating Corporate Values
Senior managers find themselves responsible for a wide variety of things--people and products, markets and money. Regarding the responsibility for money, the managers must be sure that there is enough funding available to keep the business growing, but also they must be able to explain the essence of the company to lenders and investors so that those suppliers of the funding will make the funds available at the best price. The process of explaining the value in the company is difficult because: most communication vehicles (including GAAP) are simplistic, while the company is almost certainly complex; attorneys will inhibit the managers' communication, in the name of protecting them; and there are many alternatives available to the market (there are 12,000 companies registered with the SEC), and the amount of time the market will give to any manager's attempt to communication will be surprisingly short. This course explores some of the issues in the communication of the value of a company, and looks at the success and failures of a number of case studies.

GBUS 818 - (1 1/2) (Y)
International Financial Reporting
Explores the financial-reporting practices of companies in other countries. The course is not, however, intended to focus solely on analyzing and understanding foreign financial statements. Because reporting standards, and in fact the content of financial statements, reflect national and cultural characteristics of a country, the course emphasizes looking at the key environmental factors conditioning the financial-reporting practices in the focal country. Some specific contextual aspects to be examined are: societal expectations of business; forms of business organization; sources of capital; legal and tax structures; treatment of inflation; political and cultural environments; and role of labor. The effect of these contextual characteristics are examined when studying indigenous reporting practices and when considering how a global enterprise might develop its own reporting and control systems. It is strongly recommended that students take either Decisions in Financial Reporting or Corporate Financial Reporting before enrolling in this course.

GBUS 819 - (1 1/2) (Y)
Taxation and Management Decisions
Course covers basic tax concepts relevant in operation of any business enterprise including survey of the differences between tax accounting vs. financial accounting; analyzing the choice of entity issue (i.e., comparative tax-based advantages and disadvantages of using a corporation vs. pass-through entities like partnerships to conduct business lines or joint ventures); tax aspects of debt/equity capitalization; importance of and techniques in structuring for capital gains; use of tax bracket arbitrages in the consumption and/or reinvestment of business profits. Course materials include a text, Federal Taxes and Management Decisions, by Jones and Somerfield. Guest speakers include a representative of the Internal Revenue Service to assist in analysis of a case.

GBUS 820 - (1 1/2) (Y)
Business Ethics Through Literature
Broadens and deepens understanding of management, and in particular, the role of ethics in management. It builds on the conversations in the Ethics class in the first year and addresses several key themes for today's manager. Among issues discussed are: definition of success in business; race; gender; the role of culture; the privileged place of the executive; and new understandings or models of human beings. The course has fiction, both novels and short stories as its texts and is taught Socratically.

GBUS 821 - (1 1/2) (Y)
Starting New Ventures
Enables the participants to: identify personal entrepreneurial strengths and weaknesses in themselves and in potential team members; acquire knowledge, analytical skills, and concepts pertinent to generating and appraising creative ideas; and grasp the basics of preparing a business plan. Major modules in the course are: (1) identification and feasibility of new ideas, (2) attributes of entrepreneurs, and (3) new-venture financing.

GBUS 822 - (1 1/2) (Y)
Acquisition of Closely Held Enterprises
Introduces students to alternative ways of acquiring their own business. Instruction is through the use of cases and visiting speakers. The three major modules in the course are: (1) the search process (2) valuing the business, and (3) financing and negotiating the deal.

GBUS 823 - (1 1/2) (Y)
Management of Smaller Enterprises
Provides participants an opportunity to view business problems and opportunities from the viewpoint of the owner/manager. Smaller is not defined in terms of sales or number of employees, but in terms of the number of owners and/or managers. Topics covered are: owner/manager personal/business objectives; the family-owned business; franchising; and getting out.

GBUS 824, 825, 826 - (1 1/2) (Y)
Reading Seminar in Management I, II, III
Exposes students to a wide range of ideas about the practices of management from a variety of points of view-ancient and modern. Students are responsible for reading one book a week chosen from the areas of management classics, classics of civilization, or current management thought. By practicing critical evaluation of and reflection on the works and by engaging each other and faculty in intense, small-group discussions of the concepts, students will be able to draw on a wide base of ideas as they face the complex and volatile world environment. A student may take any two of the three courses.

GBUS 827 - (11/2) (Y)
Classic Issues in Management
Furthers student understanding of general management by involving them in decision-making situations that either comprise a breadth of issues within one functional area or require the integration of two or more functional areas. The focus of the case material stresses the role of and problems faced by the middle-manager in implementing business-unit strategy. Classic cases have been selected that contain managerial insights that have withstood the test of time.

GBUS 828 - (1 1/2) (Y)
Information Resource Management
Focuses on information systems, information technology, and the use of business information in organizations. Examines the strategic value of information resources, how information systems have been used to transform corporations, and the management issues associated with the use of these technologies. Cases are chosen from a number of industries. Topics include aligning information resources with corporate strategy, managing with information systems, the organization of the information function within the firm, interorganizational systems, and information systems planning and control.

GBUS 830 - (1 1/2) (Y)
Management of International Business
(Capstone Core Course)
Introduces students to the special aspects of operating in the global environment. Stresses fundamental concepts and tools that international business managers should know. In order to accomplish its objectives, the course takes a cross-functional approach. It deals with issues in the fields of accounting, economics, politics, finance, marketing, organizational behavior, production, law, and strategy. The course does not typically address these fields separately but, instead, stresses integration within an international business context. Besides covering diverse functional areas, the course examines various business issues within a variety of countries and geographic regions. Business decisions take place in Africa, East, Southeast, and South Asia, Western and Eastern Europe, South America, and the United States.

GBUS 831 - (1 1/2) (Y)
Governance
Involves students in understanding the interaction of stakeholder groups in the resolution of conflict on issues of both public and private policy. Focuses on the governance issues in the relations between environmentalist organizations, government agencies, and private corporations in the search of balance in environmental management. Topics are treated on a global level as much as possible. Projects immerse students in a "live" environmental governance issue and culminate in a mock rule-making exercise. While the course focuses on environmental governance, the lesson are generalizable to other questions of societal governance.