The objective of this course is to provide the students with the tools and understanding necessary for them to make better managerial decisions. The course focuses on identifying common problems in decision making and how individuals can overcome these problems through self-reflection and critical analysis of their decision making processes. In addition, the course will teach the students how to make sound arguments, identify when others are making poor arguments and assist in their ability to construct sound theories.
This course is designed to help students acquire the necessary knowledge on macroeconomic phenomena that can create challenges to the successful operation of a business. The course aims to build student awareness and understanding of facts about economic interdependence. The focus will be on understanding major macroeconomic phenomena. Topics include the theory of comparative advantage, tariffs, nontariff trade barriers, contemporary trade policies, balance of payments, the foreign-exchange market and the exchange-rate determination, among others. Students are exposed to the theoretical principles that govern international trade as well as empirical evidence of global trade patterns and policies of developed and developing countries.
This course focuses on how organizations develop innovative ideas, bring those ideas to market and do so in a manner that is both sustainable from an ongoing process perspective and from an environmental perspective. Students should develop an understanding through this course of where innovative ideas come from; how they can build innovation capabilities in their organizations; how to address and minimize the effects of risk and uncertainty in the innovation and development processes; what frameworks are used to manage and organize innovation and development processes; how to embed innovation in the culture of their organizations so that it becomes part of how their organization does business; and how to develop and design new products that are sustainable from an environmental perspective.
This course focuses on how organizations learn about what customers truly need, develop strategies to fulfill those needs, properly price their products and services, distribute their products, develop awareness and branding, and maintain their customers. Students should develop an understanding through this course of how to identify customer needs, create strategies to fulfill those needs, properly structure their marketing mix so that customers will want their products or services, price their products for win/win value, develop channel strategies appropriate for their products and customers, develop awareness in their customers through advertising and promotion, and maintain customers over time to maximize customer equity.
Modern design theory has evolved from one in which designs were pushed out from organizations to one in which designs are now co-developed by users. This course will teach students what the new model of "design thinking" entails and how to use this approach to better understand customer needs and to develop more useful and innovative products and services for their customers. Upon completion of this course students should be able to understand the design thinking process, identify opportunities where this process applies and be able to apply the process in an informed manner.
Organizations are complex systems - and therefore they are closed systems. Unfortunately, most managers (and most scholars as well) look at organizations as open systems that can be controlled at will. The "control problem" is aggravated by silo thinking and data overload which is the direct result of the open systems framework. Organizations and managers in a state of shock are the result. The course will show participants an alternative view of organizations which is informed by management cybernetics.
The complex nature of modern business leads managers to take short cuts in their decision making processes. These short cuts often lead to problems as the assumptions that inform them prove to be wrong. This class will teach the students how to dig under the symptoms of a problem to get to its root cause. Students will learn how to use data to generate facts about a situation that lead to making informed decisions that eliminate problems once and for all.
Prof. Dr. Rod Franklin
Tel: +49 40 328707-231
Fax: +49 40 328707-209