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Course Criteria
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3.00 Credits
Faculty. In an era where health care systems around the world face rapidly rising costs and quality issues, organizations large and small are looking into the operational side of health care for solutions. Likewise, the abundance of unfulfilled needs in the health care marketplace has led to an array of technology ventures with innovative new products and services. In this course, we apply the tools of operations management to analyze the health care value chain. The course consists of four modules: (1) the management of productivity, quality, and variability by care providers, (2) capacity and investment decisions under uncertainty confronting pharmaceuticals, (3) the design of health insurance by health plans and the determination of health benefits by employers, and (4) business ideas and operations models from the intersection of academic research and technology ventures. Students will learn from case discussions, hands-on decision tools, and several distinguished speakers and alumni from Stanford Hospital & Clinics, Merck, U.S. Naval Academy, and Deloitte Consulting. No prior exposure to the health care industry is assumed. The course prepares students for several career paths including consulting, operations management, and health care administration and is open to both first- and second-year MBA students.
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3.00 Credits
Staff. This course is in the tradition of Operations courses as exercises in the systematic understanding of complex systems, rather than in the tools and techniques for understanding aspects of those systems. It draws upon the most recent experience in the impact of information technology upon diverse industries, ranging from securities trading to consumer packaged goods retailing. It integrates that experience with relevant theory to develop an approach to information-based strategies generally, including resurgent interest in strategies for Commerce. It is not a tools and techniques course; likewise it is not a technology or an implementation course. It provides a focused and modern complement to strategic planning. The increase in consumer informedness is changing consumer behavior in a wide range of situations. Customers find the least expensive alternative in categories of little importance to them, while finding the perfect match with their wants and needs, cravings and longings, in categories they find salient. Online trust is a strong determinant of shopping behavior and will continue to be. Likewise, the increase in information available to firms, and the increasing variety of strategies available for the use of information - from dynamic repricing to online distribution, from labor productivity enhancements to labor arbitrage and outsourcing - requires a dramatic revision of managerial mental models of their competitive options. Revising mental models and enhancing mental agility are both essential to executive leadership, rather that mere conservation and management, in today's environment of rapid and discontinuous change in the competitive environment. The ability to target profitable market segments and to identify individual customers is reducing the value of scale-based operations and the strategic advantage of large firms with existing market share. The ability to monitor the performance of units abroad is leading to greater reliance upon outsourcing, benefiting many service industries and once again reducing the advantage of many large firms. At the same time, the impact of information technology on the transparency and efficiency of securities markets is destroying the profits of entire segments of financial services. All aspects of the firm-production, service, sales, marketing, and strategy - will be affected. Clearly, some firms will win and others will lose; nearly all will have to change. And yet, fundamental laws of economics have not been repealed. How can previous economic theory, and previous experience with rapid technological change, provide insights for the development of strategy in an increasingly digital age
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3.00 Credits
Staff. Prerequisite(s): OPIM 666 or permission of instructor is required. This course is a direct sequel to OPIM 666 and it addresses strategic problem solving in the context of business transformation engagements. The course is intended to prepare students for leadership roles in dynamic and rapidly evolving industries, and for careers in strategic consulting. I veiw this as the most exciting and rewarding aspect of strategic planning and strategic consulting. In order to perform strategic transformation, either as a member of the firm's executive team or as an external strategy consultant, it is necessary to address the following questions: (1) Understaning the future: What has changed and what will change in the business environmnet of the firm Why is it going to be necessary to engage in strategic change What information will be required to function effectively (2) Future capability assessment: What will the firm need to do in order to compete in this new environment What specific actions will be required What information will be required to function effectively (3) Current activities audit: What does the firm do now What changes will be necessary What information is currently available (4) Leadership challenges: Who will be adversely affected by those changes Who will resist making them Who will be unable to implement them for other reasons How can you facilitate difficult change (5) Information infrastructure: How will information endowment determine competitive positioning What information systems will be required for the firm and its partners What information capability will be possessed by customers and competitors (6) Getting started: Determine your value proposition and your pricing. Thus, while this is a course in Information Strategy and Economics, and while information endowment is central to our strategic analyses, information systems and technology together represent only one of the issues that must be addressed in order to complete strategic business transformation.
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3.00 Credits
Staff. Telecommunications technology is changing rapidly, with profound implications for quality of everyday life and the competitive position of firms in all industries. Regulators, sociologists, executives and even those responsible for planning for firms in the telecommunications industry as yet poorly understand these changes. This course presents a broad summary of telecommunications including the basics of analog and digital media, long-haul and local data communications technology, and the emerging structure of telephony. It addresses the implications for competitive strategy, both within and outside the telecommunications industry. This course is recommended for students in strategic management, especially those with an interest in high technology firms, and for students with an interest in the communications industry. No background in technology is required, though an understanding of technology-driven competitive strategy is helpful. Students completing this course will have acquired a basic understanding of the competitive implications of modern telecommunications technology and the implications of this technology for the future structure of commerce.
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3.00 Credits
Staff. The capstone course for the MBA major "Information Strategy, Systems, & Economics," OPIM 669 covers essential topics in information strategy - such as pricing of information goods; competing in electronic markets; market transparency and search issues; information-intensive strategies; IT outsourcing; and software project management that have high impact on 21st-century business but are not typically covered in other Wharton courses.
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3.00 Credits
This course introduces tools and techniques for modeling dynamic competitive strategies - strategies that evolve over time as you and competitors take actions in response to each other and to changes in the competitive environment. This goes beyond case discussions and approximates the rigor of theoretical or game theoretical analyses, even for problems for which no traditional analytical solutions exist. Students of the course will learn to model business environments and design simulators with the goal of gaining insight and designing policies for strategy implementation. Students will develop understanding of the timing and sequencing of the actions required, as well as understanding how to modify strategies on the fly based on changing conditions or objectives. Students are introduced to state of the art software for general purpose business modeling and simulation.
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3.00 Credits
Staff. Crosslisted with OPIM410. The past few years have seen an explosion in the amount of data collected by businesses and have witnessed enabling technologies such as database systems, client-server computing and artificial intelligence reach industrial strength. These trends have spawned a new breed of systems that can support the extraction of useful information from large quantities of data. Understanding the power and limitations of these emerging technologies can provide managers and information systems professionals new approaches to support the task of solving hard business problems. This course will provide an overview of these techniques (such as genetic algorithms, neural networks, and decision trees) and discuss applications such as fraud detection, customer segmentation, trading, marketing strategies and customer support via cases and real datasets.
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3.00 Credits
Global Supply Chain Mgmt
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3.00 Credits
Prerequisite(s): MGEC 621 is recommended. This course deals with Electronic Markets and Market structures and the strategic uses of information within the firm. The course consists of four related modules on the design and functioning of Business to Business markets, use of technology to source services from global providers - i.e., outsourcing of business processes (as opposed to IT), the use of strategic technological platforms such as CRM and Web Services and the technology-enabled precision pricing techniques. Further, students are exposed to strategy formulation and execution in an online market where they compete both against each other and against (electronic) agents. This course is recommended for students interested in a career in consulting, strategic management and to students interested in information technology related professions. The course will be delivered through a mix of lectures, case discussions and hands-on trading in virtual markets using different market mechanisms. The course Web cafe will be used for discussions and responses from instructor and TA. We do not assume or require any specific technical knowledge. Workings of electronic markets and market mechanisms and how IT can enable the formulation of new strategies and empower firms to define new markets in ways that were not possible until recently. This is an advanced elective that covers several essential topics in information strategy - IT and market structure, impact of IT on knowledge-intensive products and services and creating hybrid markets that span multiple channels. Students will compete in simulated electronic markets, using different market mechanisms and formulate information-based strategies. Students will also study how IT has enabled the globalization of services through the outsourcing of processes (BPO) and how quasi market structures which combine elements of organization and markets are emerging in knowledge-intensive service industries.
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3.00 Credits
Staff. Crosslisted with MGMT 690. Making decisions, from the trivial to the fundamental, is part of everyday life of every manager and investor. For the last 30 years psychologists - and more recently also economists - have studied how people process information and make decisions. This research program has provided an insightful understanding how people's decisions deviate from "optimal" ones, and the consequences of such biases in financial and personal terms. This course is devoted to understanding the nature, causes, and managerial implications of these limitations. The material from this couse provides useful insights that will likely improve the student's decision making skills in many different domains.
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