7: Darden Graduate School of Business Administration

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Course Descriptions

All courses are being reviewed and are subject to change for 1997-1998.


GBUS 701, 702 - (5) (Y)
Management 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) (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) (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) (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) (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) (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) (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) (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) (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 718 - (2) (Y)
Strategy

This course is about the management of the total enterprise. Its intent is to equip students with the framework, concepts, and tools required to think strategically about the enterprise. This entails analyzing and understanding the firm's industry and its positions within the industry, as well as crafting strategies that will create economic value in the future. Course takes a multilevel perspective. At the single-business, single-industry level, it examines industry structure and sources of competitive advantage, as well as the role of the functional strategies in guiding and sustaining that advantage. At the corporate level, it examines such issues as diversification and internal corporate venturing.

GBUS 800 - (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 802 - (1) (Y)
Corporate Communication

Building on the First Year spring module in Management Communication, this course provides a more specific look at the corporate communication function. Where the First Year introduces some of the broad themes of this field in the context of "communication for managers" this course explores the strategies for "managing communication." Emphasizes the connections among the multiple constituencies of the contemporary corporation by examining employee and labor relations, advertising and media relations, investor relations, communicating to suppliers and customers, and crisis communication. As these topics suggest, there is ample opportunity to integrate knowledge in the core functional areas and to address the intersections between communication and IT, re-engineering, and the learning organization.

GBUS 803 - ( 1) (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) (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 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 809 - (1) (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) (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) (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) (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) (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) (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 818 - (1) (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) (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) (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) (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) (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) (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 - (1) (Y)
Reading Seminar in Management I, II
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 828 - (1) (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 829 - (1) (Y)
Entrepreneurship and Venture Capital

Many of our most successful entrepreneurial companies have been founded and significantly influenced by professional venture capital firms. This course focuses on the venture capitalists' professional world and how they work with entrepreneurs to create substantial businesses. Focus includes both how venture capital firms are formed, funded and managed and their relationship with the limited partners who are the source of their investment capital. Also examines how entrepreneurs seek funding and assistance from venture capitalists and how both parties work together to build major companies.

GBUS 830 - (1) (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.

GBUS 832 - (1) (Y)
Management Challenges of Developing Countries

Designed for prospective general managers who need to become more familiar with the special challenges and opportunities of doing business in or with developing countries. This course emphasizes the analytical abilities needed to assess the issues and concepts relevant to the strategic management of business in the fluctuating economic and political environment of developing countries. Factors that influence the choice of strategies are examined in order to enhance students' abilities to predict changes and adapt to them.

GBUS 833 - (1) (Y)
Business-Government Relations

Today's complex environment favors managers who understand government processes, are politically aware, are mindful of the interaction between media and government and business, and appreciate how business can gain strategic advantage by monitoring and working with government at all levels. This course prepares the student to meet these managerial requirements and to participate in complex decisions when changing laws and regulations and other government factors have major long-run implications for the survival and success of any business endeavor. In addition to case situations and readings on current issues, selected speakers are used to add their expertise to class discussions.

GBUS 834 - (1) (Y)
Cultural Context of International Business: East Asia

Introduces the culture of China and East Asia to future managers of American multinational corporations. The course is designed to enable the novice to gain insight into the most salient features of Chinese culture as a local expression of East Asian culture. Course content reflects a view of culture with three distinguishing characteristics: (1) traditional ideas and their attached values, (2) patterns of behavior and action that justify or rationalize those patterns, and (3) institutions that are products of transmitted patterns of behavior and that shape future behavior. Students will be encouraged to analyze these features of culture in terms of their relevance to successful business behavior in China and the East Asian cultural world. A secondary objective of the course is to inspire in course participants a refined international perspective.

GBUS 840 - (1) (Y)
Valuation in Financial Markets (Foundation Core Course)

Focuses on key valuation concepts in finance. Building on the valuation principles in first-year Finance, the course explores in more depth the ways in which financial-market participants value financial assets. The implications of these financial-market valuations for corporate management are also explored. The course develops key finance concepts and tools used in a number of second-year Finance electives but not covered in depth during the first year. Topics include measurement and pricing of risk, derivative securities, concepts of hedging, the relationship between short-term and long- term interest rates, project valuation, and company valuation. Students may not take both Valuation in Financial Markets and Financial Management. Students should note that Valuation in Financial Markets is a prerequisite for most other finance electives.

GBUS 841 - (1) (Y)
Financial Management (Capstone Core Course)

Designed for the student who wants to extend his or her knowledge of operating finance beyond that achieved in the first-year Finance course. The course deals with the tools, concepts, and decisions that managers use in making investment and financing decisions. The course is designed for students who are not planning careers in finance or extensive participation in additional finance electives.

GBUS 842 - (1) (Y)
Managing Financial Resources

Corporate managers are constantly investing the corporation's funds in current and fixed assets to create value. The manager must not only create a spreadsheet but must interpret it and understand the people issues underlying the numbers. This course analyzes the decisions a manager makes to build, to maintain, or to harvest a business unit and the decisions a corporate financial officer makes to allocate financial resources to competing needs. Students explore the problems, opportunities, and conflicts managers face when investing cash flows that a corporation expects to generate or obtain from outside sources. This course has Valuation in Financial Markets as its foundation.

GBUS 843 - (1) (Y)
Derivative Securities: Options and Futures

Provides an in-depth understanding of option and futures pricing theory and the application of these types of securities. The course deals with options and futures in the broadest possible context and does not focus only on financial options and futures. Has Valuation in Financial Markets as its foundation.

GBUS 845 - (1) (Y)
Fixed-Income Instruments

Focuses on the valuation of fixed-income securities and investment techniques used to manage fixed-income portfolios. Concepts such as duration and convexity are developed in detail, as are the roles of options and futures as they pertain to fixed income securities. The valuation of fixed-income securities involves an understanding of yield-curve concepts and the identification and measurement of risk for different classes of securities. Although an emphasis is placed on the factors that influence the relative value of different instruments, the analysis also includes an understanding of the macroeconomic conditions that determine interest rates. Has Valuation in Financial Markets as its foundation. Capital Market Flows and Institutions is a prerequisite.

GBUS 846 - (1) (Y)
Portfolio

Examines the theory and practice of portfolio management with regard to asset selection, tactical and strategic asset allocation, market timing, and performance evaluation using traditional and non-traditional assets in the U.S. and from other countries around the world. The material is firmly grounded in both the theory of portfolio management and the practices of leading-edge portfolio managers. Has Valuation in Financial Markets as its foundation.

GBUS 847 - (1) (Y)
Corporate Financing

Deals with the financing of corporations worldwide. It uses as its base the concepts and tools learned in first-year Finance and the core foundation finance course. It has three sections: market perception of value creation, capital needs and their financing, and financing in rapidly changing conditions. Has Valuation in Financial Markets as its foundation.

GBUS 848 - (1) (Y)
Corporate Financial Strategy

The course focus is formulation and implementation of corporate financial strategy and its relation to corporate strategy. Modules for the course include the application of financial theory to real world business decisions, financing strategies, restructuring strategies and the impact of agency costs on corporate financial strategy and value creation. Has Valuation in Financial Markets as its foundation. Also suggested is that both Managing Financial Resources and Corporate Financing be taken before this course.

GBUS 849 - (1) (Y)
Capital Market Flows and Institutions

Looks at the factors influencing flows of funds in the economy. Begins with the role of the government and its influence on capital markets as the largest net borrower and as the primary regulator. Other participants such as depository institutions, pension funds, investment banks and quasi governmental agencies are examined, and their roles in the funds-intermediation process are analyzed. An important aspect of the course is to understand the process of innovation in financial markets. Modules for the course include credit creation, money markets, depository institutions, Euromarkets, and mortgage finance. Has Valuation in Financial Markets as its foundation.

GBUS 850 - (3) (Y)
Strategic Management of Financial Service Organizations

After a one-session introduction to the types of institutions that compose the industry, the following broad topics are covered: (1) the new entrants- the growth and profitability of segments of the FSO arena have attracted new players, and several instances are considered to determine the characteristics of potential success; (2) transformations of existing FSOs to meet new market demands-investment banks, thrifts, insurance companies, and commercial banks have all had to move quickly to adjust to changes in their environments and the course looks at the strategic challenges in each of these areas; (3) globalization and the FSO-an argument continues to rage about the need to provide financial services on a global basis in order to succeed, and several class periods are spent on this topic.

GBUS 851 - (1) (Y)
Managing Turnarounds and Workouts

Covers the restructuring (turnaround) and resuscitation (workout) of troubled bankrupt companies. The main decisional focus is that creditors, primarily long-term, who are often the major decision makers in these circumstances. Other perspectives, however, such as that of the turnaround manager, are included. Guest speakers discuss legal, accounting, investment banking, lending, and management aspects to augment the case content.

GBUS 852 - (1) (Y)
Management of Commercial Lending

Focuses on credit decisions made by a financial services organizations as they acquire, hold, or sell assets that are subject to credit risk. The course looks at the major factors considered by lenders and borrowers when deciding whether to enter into a debt relationship and at how that relationship should be established. These factors include various economic elements, industry characteristics, and lender's and borrower's particular situations. Other aspects include the term, structure, and profitability of the relationship. Cases are selected from a variety of consumers of funds.

GBUS 853 - (1) (Y)
Global Financial Management

Covers topics related to the treasury function of a global business. Emphasis is on an understanding of foreign exchange and its impact on firm decisions. Such specific issues as transfer pricing, performance evaluation, capital structure, working-capital management, and valuation are covered. Each of those treasury functions is materially affected by foreign-exchange variation. The course develops a framework for understanding the exchange-rate impact and either mitigating it or managing in the face of it. Has Valuation in Financial Markets as its foundation.

GBUS 855 - (1) (Y)
Financial Trading

Examines the nature and influence of trading in financial markets. Particular attention is directed to the role of noise in financial markets; the psychology of participants in financial markets; the identification of potential profitable trading opportunities; arbitrage and quasi-arbitrage transactions; back office processing of trades; the management of the trading function; and, artificial neural networks and AI expert trading systems. Two mock pit trading sessions give firsthand experience in simulated pit trading environments and illustrate necessary trade skills. Valuation in Financial Markets is its foundation.

GBUS 856 - (3) (Y)
Corporate Financial Transactions

The goals are to engage students in a number of business simulations in which they must execute specific corporate transactions (e.g., a takeover, a bankruptcy), expose business students to the importance of legal considerations in such transactions, and have Darden students learn to work with legal professionals as background for future collaboration. Includes talks on relevant topics (tax provisions, securities laws, bankruptcy law, merger agreements, etc.) plus business simulations. In the simulations, teams of law and business students work together to value and negotiate deals with counterparty teams. In addition, submission of various written materials (merger agreements, SEC filings, pres releases) is required. Students also make presentations at the end of the simulations. Appeals primarily to students going into corporate finance and/or investment banking. Enrollment is restricted to 16 Darden students (plus 16 Law students). Students wishing to enroll should send a brief note plus a copy of their resume to Professor Robert Harris. Valuation in Financial Markets is a prerequisite and its foundation.

GBUS 860 - (1) (Y)
Marketing Strategy (Core Foundation Course)

This course is both a capstone and foundation course for marketing. Students wishing to take more marketing electives will need to build upon the concepts taught in this course. The focus of the course is on obtaining student mastery of the strategic aspects of segmentation, positioning, product portfolio analysis, market maps, multi-attribute models of purchase behavior, and coordination of the marketing mix. Approximately one-half of the sessions will involve the MARKSTRAT simulation. The other material will combine cases and readings.

GBUS 861 - (1) (Y)
Business-to Business Marketing

Adds depth to the concepts and skills learned in first-year Marketing and provides students an overview of marketing strategy concepts that are most relevant to business-to-business marketers. Modules include: pricing, distribution strategy, and marketing-strategy. Has Marketing Strategy as its foundation.

GBUS 862 - (1) (Y)
Consumer Marketing

This course has two main topic areas: Managing push and pull marketing for consumer packaged goods and strategic pricing. Pricing cases include consumer services (e.g., retailing and airlines). The course uses a combination of cases, articles, and simulations. Has Marketing Strategy as its foundation.

GBUS 863 - (1) (Y)
Advertising and Promotion Management

Examines the basic decisions of marketing communications: target market selection, message design, media selection, budgeting, and measurement of effects. The course assumes exposure to the concepts in Consumer Marketing. Modules include: copy strategy and executions, media planning and buying, promotion management, measurement, budgeting, and agency organization.

GBUS 864 - (1) (Y)
Marketing Research

Makes participants well-informed consumers of market research, as opposed to experts in conducting market research. Cases cover such subject areas as the research process, problem definition, survey design, analytical techniques, and the interpretation of results, with emphasis on using the research to make decisions. Has Marketing Strategy as its foundation.

GBUS 865 - (1) (Y)
International Marketing

Focuses on the strategic implications of international marketing -- whether one studies a U.S. firm deciding to market abroad or whether one determines how to defend against foreign competition at home. Case studies concentrate on building marketing plans spanning two or more countries; both industrial and consumer markets are covered. In addition, the organizational problems of managing markets at great distances are studied. Major attention is devoted to understanding culture and its implications for the analysis of consumer motivations.

GBUS 866 - (1) (Y)
Sales Force Management

Develops understanding and skills in the building and maintenance of an effective sales organization. Course objectives: (1) sharpens understanding of the role of the sales representative in the marketing mix; (2) sharpens skills in influencing the behavior of subordinates and in other problems of sales force direction at the supervisory level, and (3) sharpens analytical and planning skills required for the design and implementation of selling strategies.

GBUS 868 - (1) (Y)
Business-to Business Simulation INDUSTRAT

A brief course description and a copy of the INDUSTRAT manual are on reserve in the Camp Library.

GBUS 869 - (1) (Y)
Direct Marketing

Examines the concepts, strategies, and applications involved in direct marketing. Direct marketing is characterized by activities which address the customer directly (usually through some form of response advertising) for the purposes of both initiating an exchange as well as developing, managing, and exploiting a customer list. Deals more with the managerial aspects of direct marketing rather than the details of designing response advertising campaigns. The integration of direct marketing programs into the total marketing efforts of the firm are covered. Discovers that direct marketing is much, much more than just "junk" mail.

GBUS 872 - (1) (Y)
Management of Non-Profit Organizations

Designed to provide students with an opportunity to investigate the general-management problems confronting organizations in the nonprofit and public sectors of the economy. Students will study a variety of interesting organizations in the nonprofit sector and compare and contrast them with private sector companies. Cases and readings are drawn from real world nonprofit organizations and from current periodicals. Covers issues relating to finance, marketing, financial management, fundraising, governance and entrepreneurship. Problems and issues in a nonprofit are very similar to those of companies in the private sector. Students begin to understand that there is an urgent need for more business people in the nonprofit sector as they examine the problems confronting the management of these diverse organizations.

GBUS 874 - (3) (Y)
Career Management

Teaches essential managerial skills by developing students' inductive skills at seeing patterns in large and diverse pools of data, and by requiring them to make decisions and a coherent strategy from those patterns and then to live with and implement that strategy over a six-month time frame. In the first half of the course, students work through 16-18 self-assessment instruments and summarize the data into a self-assessment paper. In the second half of the course, students apply those inferences to a job search and career management strategy, which they implement during second semester.

GBUS 875 - (3) (Y)
Managerial Psychology

Begins with the development of a model of personality that will enable students to gain insight into how people develop and learn. This initial model/framework comprises the first four sessions of the course. The remaining sessions focus on particular issues that confront managers throughout their careers. These issues include but are not limited to: dilemmas of subordinates, dilemmas of leadership, conflict resolution and management, managing through values, psychology of change, managing diversity, and personal growth.

GBUS 876 - (1) (Y)
The Human Side of Corporate Competitiveness

Based on the premise that corporate competitiveness relies on highly effective individuals committed to working in well designed organizations and explores ways in which people contribute to or detract from corporate competitiveness. Through current books, articles, film, cases, exercises, and assignments, students examine personal and organizational elements of adding value to corporate competitiveness. Topics, in part negotiated at the outset with students include but are not limited to the learning individual and the learning organization, wellness programs, new theories of management, quality of work life, leadership, and the bonds that tie individuals to organizations. Grading is based on class contribution and a final exam.

GBUS 878 - (1) (Y)
Managing the Challenges of Diversity

Explores diversity issues at the personal, interpersonal, and organizational levels, with a focus on issues of race, gender, and sexual orientation, as well as on broader issues of "difference." Avenues for learning in the course include theory, cases, literature and film, and experiential exercises. The focus of this course is on connecting academic disciplines, corporate insights, hands-on experiences, and scholarship that are usually not connected, though those connections are crucial for leaders of business organizations in an increasingly complex, changing, and diverse world.

GBUS 879 - (1) (Y)
Strategic Human-Resource Management

Begins with the basic assumption that the approach to managing human beings is unlike the approach to managing other resources, indeed, that the term "human resources" may be a misnomer. Given that the assumption the aim of the course is to provide a conceptual framework with which to approach personnel issues. The course deals with the general issues of employee rights and responsibilities, the nature of work, motivation, conflict and negotiation, equal opportunity and diversity, and managerial decision-making in personnel practices. Discusses the more specific topics of labor relations, compensation and benefits, and occupational health and safety issues. Pays special attention to human resources issues in the context of the globalization and restructuring of the modern corporation. While the course has wide applicability, it is especially intended for students with particular interests in personnel, human resource management, and/or labor relations.

GBUS 880 - (1) (Y)
Operations Strategy (Capstone Core Course)

This integrative course focuses broadly on strategic-management principles of the operations function in both manufacturing and service industries. Key objectives are improved understanding of some of the generic concepts and methodology of manufacturing and operations strategy and learning how the operations function can be used as a significant source of potential competitive advantage. Examples of successful global competitors in several industries are used throughout the course. Topics covered include quality, technology, time-based competition, marketing-based manufacturing, global sourcing, focused manufacturing, and capacity and facilities planning.

GBUS 881 - (1) (Y)
Manufacturing Planning and Control

Increased competition and fragmenting consumer markets are placing ever increasing pressure on manufacturing enterprises to improve how they utilize the assets at their disposal. The era of mass production as the preeminent organizational paradigm for successful manufacturing enterprises, may be drawing to a close. In its place, companies are becoming "lean," "agile," "flexibly specialized," "virtual," and any one of many other buzzwords. A survey of the very latest thinking from around the world on how manufacturing companies are seeking to achieve this combination of low cost and customization, "mass production in lots of one." Concentrates on the specific analytical techniques companies are finding useful in the implementation of these ideas. Many of these techniques, such as materials requirements planning (MRP), just-in-time, total quality management, cost accounting, forecasting, and even the more recently popular theory of constraints, have actually been around for a while, but are being adapted for the new competitive environment. Features cases, articles, guest speakers, and a hands-on production simulation exercise.

GBUS 882 - (1) (Y)
Management of Service Operations

The strategic and tactical problems of managing the operations function in the service environment are examined, including businesses in the service sector of manufacturing firms. Topics include the impact of product definition and target market on the operations function, development of operating strategy, and the design and implementation of service delivery systems. More traditional operations topics (e.g., productivity, quality, and capacity) are also investigated to determine their roles in the management of services. Because the functional areas of business have high levels of interdependence in the service environment, another goal of the course is to examine the interface between operations and other functional areas.

GBUS 883 - (1) (Y)
Quality Management

Addresses the challenges of managing for improvement in a firm's business activities. Modern corporations are under such competitive pressures that, unless all organizational entities are working cooperatively and continuously on enhancing performance effectiveness, the enterprise's services and goods are likely to fall short of customer's expectations. Students develop a new perspective on the strategic role of quality, and they gain experience in applying specific quality-management tools and practices. Case studies focus on senior executives and functional managers who are actively and personally leading an organization-wide process for creating the high-performance organization through a total quality process. Topics include system thinking, benchmarking, systems assessment frameworks, process reengineering and quality function deployment.

GBUS 884 - (3) (Y)
Innovation and Technology Management

Innovation and technology are considered in this course from a top-level strategic perspective and are viewed as playing an essential role in the development and achievement of long-term competitive advantage. The focus is on businesses in which product and process technologies serve as core elements of business strategy. This course deals with both small and large corporations and encompasses a wide range of technologies from information systems to product manufacturing.

GBUS 885 - (1) (Y)
Process-Quality Management

Course involves students in several advanced methodological approaches utilized in achieving continuous improvement in the design quality and manufacturing quality of an organization's products and services. Process quality management is the design of technical work activities with emphasis on process variability reduction to lower cost and increase customer satisfaction, and product and process parameter design to achieve robust performance. Topics to be studied include statistical process management, quality function deployment, experimental design (Taguchi and Shainin methods), and concurrent engineering. Students generally take the perspective of a manager or staff professional working on challenging cross-functional team assignments in new product development, supplier audit/certification, product and process technology evaluation, capability performance studies, and process variability reduction. Cases, workshop sessions, and simulations are used to develop each student's understanding of the techniques and appropriate practices to achieve the full power of the methodologies to build quality into products.

GBUS 890 - (1) (Y)
Management Decision Models (Capstone Core Course)

Increasing competition, escalating advances in technology, and risk define the business environment of the 1990s. At the same time, decisions involve multiple, competing objectives. Big, long-term, strategic projects that will affect the future of a company should be subject to more, not less, scrutiny. Fortunately, such scrutiny is easier to perform today than it has ever been.Spreadsheet modeling software and the desktop computer have enlarged the opportunities and expectations for MBAs to create and use their own models to meet these challenges. Managers are often required to abstract the broad design of a decision model that will be responsive to executive needs, to write the model, to exercise the model, and to present the results of the work to management. In more complex situations, they will communicate designs for a model to management science specialists to create the model for their use. These are the skills developed in this course. These skills may be applied broadly in the functional areas of business and in general management. Excel and a number of add-in products and functions (for decision trees, @RISK simulation, forecasting, tornado diagrams, influence diagrams and cognitive mapping, multiple attributes, and strategy tables) are used in order to carry out the structural modeling of competitive advantage, economic value-added, strategy choice modeling, and to consider uncertainty and competing objectives. Optional software workshops and presentations are provided.

GBUS 892 - (1) (Y)
Optimization Models for Management

The objectives of this course are: become an intelligent consumer of mathematical programming-based management decision models that enable users to achieve high performance efficiently, develop proficiency building and using spreadsheet-based optimization models, taking advantage of the full power and features of Excel's Solver package, build on the Linear Programming module of First Year QA, understand the intracacies and subtleties of Nonlinear Programming and Integer Programming (both available in Solver), and recognize the role of discrete-event simulation in optimization models; how to use it, how it fits with mathematical programming, and what types of software exist to support it.

GBUS 893 - (1) (Y)
Bargaining and Negotiating

Focuses on negotiating and bargaining in a wide variety of settings ranging from simple buyer-seller negotiations to multiple-issue labor-management negotiations. Most class sessions revolve around the results of negotiations conducted between class members as part of their preparation for the session. The discussion reviews the wide variety of experiences in the specific negotiation, develops hypotheses regarding the effectiveness of certain behaviors, and suggests means for improving negotiating effectiveness.

GBUS 894 - (1) (Y)
Managing the Politics of Strategy

The course has three missions. First, it addresses the political questions of how to implement rationally-derived business and corporate strategies. Second, it instills an understanding of how strategy actually emerges in a firm -- i.e., that strategy formulation and implementation are not only not always neatly separable, but that in many situations they occur simultaneously and the distinction between them tends to muddy. Three, it introduces governance issues in today's modern corporation (e.g., the role of the Board of Directors). Consists of case analysis of a variety of situations, along with conceptual and empirical readings from several social science disciplines, including strategic management, political science, applied anthropology, and organization sociology.

GBUS 895 - (1- 7) (Y)
Business Projects

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 895A-GBUS 895J). 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 896 - (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 898 - (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 899- (3) (Y)
Research Elective

Students may not take more than seven and one-half credits of combined Directed Study and Research Elective.

GBUS 8031 - (1) (Y)
Doing Business in Mexico

The centerpiece of this course is a five-day stay in Monterrey, Mexico where students are hosted by the Mexican business school Instituto Tecnologico y de Estudios Superiores de Monterry (ITESM). Students participate in classroom seminars taught by ITESM faculty (in English) in the morning and visit companies in the afternoon. Prior to beginning these classes, students will have completed a significant background reading assignment and are asked to attend a full day workshop in the Mexican business environment with the Darden instructors. Enhances students' understanding of the Mexican business environment and the management of firms under those conditions. Designed from a general management perspective, it analyzes a number of different business problems. In addition, issues of cross-cultural management are studied. Provides the opportunity to learn about Mexico from both U. S. and Mexican instructors, to meet Mexican executives, and to visit world-class Mexican companies.

GBUS 8032 - (1) (Y)
Financial Strategy, Accounting Policy and Management Controls

Management's primary influence on shareholder value is the effective operation of the business. But also, top management can increase shareholder value by employing effective financing strategies, by communicating effectively with the market place, and by coordinating all of the efforts of the company's leaders toward the benefit of the shareholders. Directed to those students who expect to be concerned about their companies' capital requirements, either in top management of in corporate finance and to those who will be working in the financial markets and are interested in the way companies cultivate the value of their shareholders' interests.

GBUS 8034 - (1) (Y)
Managing the Growing Enterprise


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