Strategic Leadership and Management

Enhance leadership and business skills for immediate impact. Practice everyday leadership, manage people, learn and apply concepts and techniques to effectively manage organizations through organizational design, and formulate and implement strategy. 

In this specialization, you will learn the fundamentals to effectively lead people and teams, manage organizations as well as tools to analyze business situations and develop strategies. The Specialization covers the strategic, human resource, and organizational foundations for creating and capturing value for sustainable competitive advantage – including how to manage people and organizations, analyze the competition, and develop strategies both within a business and across a portfolio of businesses

Learning outcomes

  • Effectively work with and manage people individually and in teams
  • Understand how organizations are designed and managed
  • Analyze business situations and formulate and implement strategies to gain and sustain competitive advantage

Courses

In this course you will learn about the “head and heart” of everyday leadership, individual decision making, group decision making, and managing motivation. The objectives are to understand why and how leadership skills are so critical to organizational success, and learn the foundations of effective leadership skills.

The second part of the course will cover the following topics: negotiation, feedback and coaching, conflict management, and leading change. The objectives will be to learn how to use leadership skills to work more effectively with others, how to use leadership skills to organize others to work more effectively together, and to apply the foundations of effective leadership skills to everyday situations faced by leaders.

In this course you will understand how firms are organized, what factors must be taken into account in making critical design decisions, and what role managers play in making these choices. In order to answer these questions, we will first develop a conceptual process model that links business models, external and internal contingencies, and organizational design. Second, we will focus on the fundamental principles of organization design and what alternative design choices are available for managers. Finally, we will apply these concepts and ideas to organizational situations to develop the critical insights and decision making skills to build effective organizations.

You will also build a practical framework to understand the critical linkages between organization design and the creation of economic value through execution. We will focus on four critical linkages:

  1. How organizational growth and life cycle require design changes to improve execution
  2. How managerial decision making can be improved through better organization design
  3. How the design of human resource practices shape the culture of the organization
  4. How innovation and change can be facilitated through organization design.

These linkages are critical in assessing how managers make sure that the organizations they design can execute the strategies they have envisioned under changing environmental conditions.

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Understanding how organizations create, capture, and maintain value is fundamental for sustainable competitive advantage. This course enables a manager to better understand value creation and capture, and provides tools to analyze both competition and cooperation from a variety of perspectives, including the industry level (e.g., five forces analysis), the firm level (e.g., business models and strategic positioning), and the corporate level (e.g., vertical integration, diversification, and strategic alliances). Cases are used to illustrate in clear terms the key fundamental theories of strategic management, including the application of important frameworks and tools. Strategy formulation and strategy implementation are integrated across industry, firm, and corporate levels.

The capstone for the self-directed specialization will provide a learning experience that integrates what you learned in Everyday Leadership, Designing and Managing Organizations, and Strategic Management and apply that learning to an actual business situation faced by a company. The capstone deliverable consists of a strategic leadership and management plan covering the design and management, effective people management, analysis of a business situation, and the formulation and implementation of a strategy.

The strategic leadership and management plans will be peer reviewed in a crowd-sourcing format as part of a poster session, with participation by one or more focal companies. The deliverable will be designed to create value from the perspective of potential employers while achieving pedagogical and experiential goals for learners. Learner assessment for the capstone will include quizzes as well as peer reviews of capstone projects.

 

Faculty

He is a professor of business administration and the Merle H. and Virginia Downs Boren Professor. He teaches courses and conducts research dealing with macro organizational behavior, particularly with organizational design, inter-organizational relations, and organizational forms. He has served on a number of editorial boards including Administrative Science Quarterly, Academy of Management Review, Organization Science, Journal of Management, Academy of Management Review, and Organization Studies and his work has appeared in journals such as Administrative Science Quarterly, Social Forces, Organization Studies, and Strategic Management Journal. He is also the acting director of the Office of Business Innovation and Entrepreneurship, which focuses on the role of social and economic infrastructure that leads to business innovations and the development of high growth firms. He received his MBA and PhD in organizational behavior from the University of Illinois at Urbana-Champaign.
He is a professor of business administration and the Caterpillar Chair of Business. His research interest is organizational economics, which includes dynamic capabilities and resource-based theory, transaction costs theory, real-options theory, agency theory, property rights theory, stakeholder theory, and the behavioral theory of the firm. He has published over 60 articles in journal outlets, including Academy of Management Review, Industrial and Corporate Change, Journal of Business Venturing, Journal of Management, Journal of Management Studies, Organization Science, Strategic Entrepreneurship Journal, Strategic Management Journal, and Strategic Organization. His publications have been cited over 2,000 times in Web of Science, and over 8,500 times according to Google Scholar from scholars from 75 countries. Economic Foundations of Strategy, his book for first-year doctoral students, has been adopted by more than 35 doctoral programs worldwide. He has won awards for outstanding teaching in the Executive MBA and Professional MBA programs multiple times, as elected by his students. Mahoney earned a BA, MA, and PhD in economics and a doctorate in Business Economics from the Wharton School of Business at the University of Pennsylvania.
He is a professor of business administration and the Harry J. Gray Professor of Executive Leadership. He holds a PhD and MA in social psychology from Stanford University and additional degrees from Dartmouth College and Oxford University. He has held visiting professorships at Stanford and Northwestern Universities, as well as at universities in Australia, Bulgaria, Israel, Thailand, and China. His research interests include conflict management, organizational behavior, managerial decision-making, process of collaboration and employee motivation, and job design, particularly in high-technology manufacturing settings. His published works have appeared in journals such as Administrative Science Quarterly, Academy of Management Learning & Education, and Organizational Behavior and Human Decision Processes.
He is an associate professor of business administration and the Stephen V. and Christy C. King Faculty Fellow. His research interests are in how companies strategize about and derive competitive advantage from their knowledge assets, particularly talent and intellectual property. Somaya has published extensively in such journals as the Journal of Management, Personnel Psychology, Advances in Strategic Management, Advances in International Management, and Sloan Management Review. He has won several prizes for best paper at the Strategic Management Science Conference and has been elected to the List of Teachers Ranked as Excellent by their students at Illinois every year since 2011. He holds a PhD in business administration from the University of California at Berkeley, an MBA from the Indian Institute of management at Calcutta, and a bachelors in technology degree from the Indian Institute of Technology at Bombay.

Managerial Economics and Business Analysis

Managerial-Economics-and-Business-Analysis

In order to effectively manage and operate a business, managers and leaders need to understand the market characteristics and economic environments they operate in. In this specialization you will build a solid understanding of the operation of markets, understand how to assess the macro-economic environment with examples of real-world events, and finally, develop an analytical framework to combine the power of theory and data to make effective business decisions.

Learning outcomes

  • Identify firm- and country-level economic factors that impact business decisions
  • Develop an analytical framework using statistical tools
  • Apply economic theory and data in the analysis of business environments and trends to make effective business decisions

Courses

This course is about microeconomic theory and its use in the analysis of resource allocation and contemporary business problems. In the process, we will need to build a solid understanding of the operation of markets. While newspapers provide daily reminders of the movement of many economies toward market rather than government control of allocation, many US policymakers continue to press for increasing government intervention. Our goal will be to develop a set of tools, a methodology, which will allow reasoned and consistent analysis of consumers, producers, markets, and policy options. In order to reach this level of understanding, we must focus on how markets arrive at equilibrium outcomes. This requires construction of optimal behavior by both consumers and producers, as well as the characteristics of the marketplaces in which they interact. Throughout, I will make a concerted effort to motivate your interest in a theory or an application by referring to real-world events.
The goal of this course is to enable you to assess the macroeconomic environment in which a business operates. Macroeconomic conditions play important roles in business decisions and performance. Aggregate income, unemployment, and inflation rates influence profitability; interest rates determine the cost of capital; and exchange rates affect international competitiveness.
This course provides an analytical framework to help students evaluate key problems in a structured fashion and tools to better manage the uncertainties that pervade and complicate business processes. In this course, you will learn the “language” of uncertainty and the statistical methods for making inferences and decisions on the basis of limited information/data.

The capstone for the specialization will provide a learning experience that examines the global economic environment of business. The capstone involves an in-depth analysis of an actual business situation. The final deliverable consists of a business environment plan that uses statistical tools and economic theory to create a comprehensive analysis of the microeconomic and macroeconomic environment in which the focal company operates.

The business environment plans will be peer reviewed in a crowd-sourcing format as part of a poster session, with participation by one or more focal companies. The deliverable will be designed to create value from the perspective of potential employers while achieving pedagogical and experiential goals for learners. Learner assessment for the capstone will include quizzes as well as peer reviews of capstone projects.

 

Faculty

He is a dean emeritus and professor of finance in the College of Business, and professor of economics in the College of Liberal Arts and Sciences. He has long been associated with the Illinois MBA and has won many awards in graduate and professional teaching, including the Campus Award for Excellence in Graduate and Professional Teaching, the MBA Faculty of the Year Award, and the Keith E. Sawyer Memorial Service Award from the Illinois Executive MBA. His research interests lie in the area of applied microeconomics and focus on topics in industrial organization, regulatory issues, and labor economics. Along with some of his colleagues in Business, he has also written articles on economic aspects of professional sports. He holds PhD and MA degrees in economics from Cornell University and earned a BS in economics from Bradley University.
He is a professor of economics in the College of Liberal Arts and Sciences. His major research interests are in the arena of the political economy of development. He has published extensively on related topics in the Journal of Applied Econometrics, The Quarterly Review of Economics and Finance, Middle East Development Journal, Journal of Development Economics, Review of Economics and Statistics, and International Economic Review. He has won numerous awards for teaching, including Faculty of the Year for the Executive MBA program, Best Teacher Award for the Warsaw-Illinois Executive MBA, Professor of the Year for the Professional MBA, Economics Graduate Student Organization Award for Teaching Excellence at the Graduate Level, the List of Teachers Ranked as Excellent By Their Students, and the Omicron Delta Epsilon Award for Teaching Excellence at the Graduate Level. He has earned a PhD and an MA in economics from the University of California, and a BS in mechanical engineering from Tehran University.
She is a clinical professor of business administration. She holds a PhD, MS, and BS in industrial engineering from Purdue University. Her research interests focus on the integration of technology with management and process movement, particularly the development and deployment of Radio Frequency Identification (RFID) technology in manufacturing and the global supply chain. Her teaching interests are mainly in operations process management, including product development and design, operation and technology strategy, and project management. Her work has been published in such journals as Advanced Engineering Informatics, Expert Systems with Applications, and Management Research News. Taghaboni-Dutta has consistently been featured on the university-wide list of faculty rated as excellent by their students from 2009 to 2014.

Value Chain Management

Value-Chain-Management

The courses in this specialization focus on organizations’ core activities that create value: identifying and meeting customer needs, designing and managing operations, and using information to facilitate and align operational and strategic decisions. Marketing spans the value chain from identifying customer needs to delivering value. Process management enables operations from obtaining supplies to adding value to delivering products to customers. Finally, Managerial accounting provides the foundation of information to design and manage operations and serve customers.

Learning outcomes

  • Improve your managerial decision-making by identifying customer needs through the practice of strategic analysis of marketing opportunities and communication of marketing decisions
  • Learn how to design, manage, and improve operations to increase revenues and contain costs throughout organizations and supply chains
  • Use accounting to allocate resources and incentivize employees’ use of those resources through concepts such as activity-based costing and cost-volume-profit analysis

Courses

In this course, you will learn specific marketing management principles by seeing them applied in a variety of business and non-business settings. It is designed to help you understand how marketing creates customer value and examines the marketplace exchanges in the value chain that benefit the organization and its stakeholders. Our goal is to improve your managerial decision-making through the practice of strategic analysis of marketing opportunities and communication of marketing decisions.
In the first half of this course, you will learn about the role of operations in manufacturing- and service-focused organizations, and how operations link to other business functions. You will learn decision-making frameworks and techniques that are applicable at different organizational levels – in management-level strategic decisions such as relating process arrangements to the needs of various customer segments, and in front-line tactical decisions such as choosing between ordering larger quantities versus ordering more often.
In the second half of this course, you will be introduced to techniques for setting organizational priorities for process improvement and for selecting projects that align with such priorities. You will learn techniques for discovering and making continuous improvements to work processes.
In this course, you will examine how organizations use accounting to facilitate and align the decisions made by managers and employees. You will learn how organizations create, organize, and communicate information to improve internal processes and maximize customer and supply chain market opportunities. You will also explore how organizations use accounting to allocate resources and evaluate and incentivize managers’ and employees’ use of those resources. This course also explores financial and non-financial performance measurement, and how organizations implement both perspectives to continuously improve their strategy.

The capstone for the specialization will provide a learning experience that examines how the various segments of a business integrate to create a value chain. The capstone involves an in-depth analysis of an actual business situation. The final deliverable consists of a plan based on a comprehensive analysis of how accounting, marketing, and operations work together to create a value chain. The plan will propose how value creation in organizations and supply chains can be enhanced using the concepts and frameworks learned in the three courses.

The value-chain enhancement plans will be peer reviewed in a crowd-sourcing format as part of a poster session, with participation by one or more focal companies. The deliverable will be designed to create value from the perspective of potential employers while achieving pedagogical and experiential goals for learners. Learner assessment for the capstone will include quizzes as well as peer reviews of capstone projects.

 

Faculty

He is the Academic Director of the Full-Time and Professional MBA Programs and an assistant professor of business administration. He has consistently been featured among the university-wide list of faculty ranked as excellent from 2007 to 2013, was elected MBA professor of the Year by the MBA Student Advisory Committee 2013-2014, and was nominated for the Illinois Student Senate Teaching Excellence Award in 2012. His teaching and research interests include marketing management, consumer behavior and information processing, and memory. He has published several articles on these topics in journals such as the Journal of Advertising Research and Psychology & Marketing, and his research has become required reading in doctoral programs at multiple institutions. Before teaching in the Executive MBA program, Noel taught in similar programs in Hong Kong, Singapore, and Taiwan. He holds a PhD in marketing with a concentration in consumer behavior from the University of Florida. He has also worked as an account executive for a New York-based advertising firm.
He is an associate professor of business administration in the College of Business. His research focuses on operations strategy and the strategic role of continuous improvement initiatives. Anand is a celebrated scholar who has won several awards for his excellence in teaching and for his outstanding achievements as associate editor and reviewer for Decision Sciences Journal and for Best Reviewer and the Chan K. Hahn Distinguished Paper awards for the Academy of Management. His work has appeared in numerous books and journals, recently including Production and Operations Management, E-Learning and Digital Media, and the International Journal of Operations & Production Management. He received his MBA and PhD degrees from The Ohio State University. Prior to his doctoral studies, he worked as managing partner of a manufacturing and marketing firm in Mumbai, India.
He is an associate professor of accountancy in the College of Business. He earned his PhD in accountancy from the University of Illinois at Urbana-Champaign and his BS in accountancy from Illinois State University. His teaching and research interests lie in risk measurement and reporting. Hecht is a prolific author who has published his research in Contemporary Accounting Research, The Journal of Accounting Research, The Accounting Review, and other scholarly journals. He co-won the Impact on Management Accounting Practice Award in 2012, the Best Conference Paper award from the American Accounting Association Management Accounting Section’s Mid-Year Meeting in 2011, and has made the List of Teachers Ranked as Excellent by Their Students numerous times at the University of Illinois at Urbana-Champaign.

Financial Management

Financial-Management

You will learn the skills essential for evaluating major strategic corporate and investment decisions to understand capital markets and institutions from a financial perspective. This Specialization covers financial accounting, investments, and corporate finance. It provides an integrated framework for value-based financial management and individual financial decision making.

Learning outcomes

  • You will have a solid foundation in developing an integrated framework for strategic financial decision making
  • You will have a thorough understanding of financial statements and the financial information they provide and develop the ability to critically evaluate and analyze cash flows statement
  • You will learn about the management and evaluation of portfolios and firm valuation techniques
  • Finally, you will learn how to incorporate risk and uncertainty into investment decisions and understand how companies make financing and investment decisions

 

In this course you will gain a basic understanding of the financial accounting information production process. The course mainly focuses on how financial reports are prepared to provide students with the ability to analyze complex financial accounting information. This ability is important for elective courses that require analysis of financial accounting information in many different contexts. More importantly, the ability to process and understand financial accounting information is essential for all types of investors to make better-informed financial decisions.
These two courses provide a thorough introduction to investments and the technical language of finance with an emphasis on understanding the management and evaluation of portfolios and firm valuation techniques. Key principles of understanding risk and return and the CAPM model (the most common model in corporate and investment finance today) as well as multi-factor models are reviewed. An overview of market efficiency and behavioral finance are provided as well as an introduction to derivative securities, bonds, and professional money management.
Corporate Finance develops a framework for evaluating financial decisions made by corporate managers with an emphasis on the analysis of capital investment projects and mergers and acquisitions using net present value and real options, working capital management, dividend and debt policies, hedging, or offsetting financial risks through derivatives and liquidity management. Applications to real-world problems are emphasized.

The capstone for the specialization will provide a learning experience that integrates across all the courses within that specialization. It will involve analysis of a situation concerning an actual business with a view to work toward a financial management plan. Students will analyze a situation taking the vantage point of a company and develop a financial management plan (for instance, a global company working in a specific geography chosen by students’ region or country of residence, or other consideration).

The financial management plans will be peer reviewed in a crowd-sourcing format as part of a poster session, with participation by one or more focal companies. The deliverable will be designed to create value from the perspective of potential employers while achieving pedagogical and experiential goals for learners. Learner assessment for the capstone will include quizzes as well as peer reviews of capstone projects.

 

Faculty

He is an associate professor accountancy in the College of Business. His research interests lie in the area of archival financial accounting and focuses on the impact of accounting information in macroeconomy and in debt markets. His work appeared in prestigious journals including The Accounting Review, Management Science, Review of Accounting Studies, and Contemporary Accounting Research. He teaches courses in financial accounting at the undergraduate, MBA, Executive MBA and PhD levels around the world. He earned his PhD in accounting from The University of Texas at Dallas and a BA in business administration from Bogazici University
He is a professor of finance and the Stanley C. and Joan J. Golder Chair in Corporate Finance. He is also a research associate for the National Bureau of Economic Research. He teaches courses in mergers and acquisitions and corporate finance and maintains research interests in liquidity management, capital structure, corporate ownership structure, and corporate governance. His research has been cited by the Wall Street Journal, USA Today, and the Financial Times, and by prominent policy authorities such as the President of the European Central Bank. His research has received numerous awards such as the Journal of Finance’s Brattle Prize and the Jensen Prize for the Journal of Financial Economics, and has received more than 4,000 citations by other researchers. He earned his PhD in economics from the University of Chicago, an MS in economics from the Pontifical Catholic University of Rio de Janeiro, a BA in economics from the Federal University of Minas Gerais, and a BA in business administration from the College of Business and Administration, UNA-MG.
He is a professor of finance and James F. Towey Faculty Fellow. Before coming to Illinois, he worked as an economist for the Federal Reserve Board of Governors in the capital markets section. His research studies household portfolio decisions and the financial and operational decisions made by corporate executives and other institutional managers. He has published articles in several leading finance and economics journals, including The American Economic Review, The Journal of Finance, The Journal of Financial Economics, and several others. His papers have won multiple “Best Paper” awards at various conferences around the world and his research has been heavily cited in academic finance and economics literatures. He is also an award- winning teacher at Illinois, where he has been consistently elected to the List of Teachers Rated as Excellent at the University of Illinois every year since 2002 and elected “Best Professor” in finance several years in a row. He also won the College of Business Alumni Association’s Excellence-in-Teaching Award for Graduate and Professional Teaching in 2011 and was selected the Best Professor in the Full-Time MBA Program in 2014. He holds a PhD in economics from MIT and BAs in economics and mathematics from the University of Wisconsin at Madison.

Global Challenges in Business

Global-Challenges-in-Business

This specialization prepares students for the global challenges that businesses face in the 21st century. The global marketplace now and in the future spans emerging markets, a world connected by social media, and rapid technological advancements, hand in hand with huge challenges relating to environment and poverty. This specialization covers how business strategy is formulated and implemented in the global arena in all its complexities. It also covers the role of ethics and corporate responsibility in a connected world as well as the role of business in addressing global challenges such as poverty and the environment. The specialization enables understanding of global business and how to pursue opportunities and confront challenges in this arena responsibly.

Learning outcomes

  • Understand how businesses function in the global marketplace
  • Make ethical decisions to run a responsible business in the global marketplace
  • Understand the role of business in addressing global challenges such as poverty and the environment
  • Understand how business can pursue opportunities and confront challenges in the complex global marketplace

Courses

The two components for this course are:

Sustainable Innovation for Subsistence Marketplaces

This course focuses on understanding subsistence marketplaces and designing business solutions for the billions of people living in poverty in the global marketplace. To develop understanding of subsistence marketplaces, we use exercises to enable participants to view the world from the eyes of subsistence consumers and entrepreneurs, facilitate bottom‐up understanding generated by participants, and provide insights from extensive research. More broadly, the course uses the context of extreme resource constrained contexts to learn about the bottom-up approach pioneered through the Subsistence Marketplaces Initiative, and apply it in any context. The course will involve virtual immersion in subsistence contexts, emersion of unique insights, bottom-up design, innovation and enterprise. A parallel project will focus on understanding a specific need in a subsistence marketplace, and designing a solution and an enterprise plan.

Upon successful completion of this portion of the course you will be able to:

  1. Develop an understanding of subsistence marketplaces
  2. Design solutions for subsistence marketplaces
  3. Develop enterprise plans to implement solutions for subsistence marketplaces
  4. Apply the bottom-up approach for subsistence marketplaces as well as other contexts

Sustainable Business Enterprises

This course will explore current challenges and opportunities facing firms in the area of environmental sustainability. It will begin with an introduction to sustainability, with a particular focus on how environmental sustainability is relevant to business. Topics such as unsustainable consumption/consumer behavior, market research sustainable product design, sustainable value chains and communications will be covered. The bottom-up approach in terms of immersion, emersion, and design as applied to sustainable business enterprise will be covered.  The course concludes with a summary of insights on global challenges in business, with particular focus on poverty and the environment, and on the unique approach employed here in terms of bottom-up immersion, emersion, design, innovation, and enterprise.

Upon successful completion of this portion of the course you will be able to:

  • Understand the importance of sustainabilityfor business
  • Learnabout specific topics consumer behavior, market research, product design, value chains and communications using the sustainability lens in business
  • Design solutionsand develop enterprise plans for sustainable business initiatives
  • Apply the bottom-up approach forsustainable business initiatives in any context

The two components for this course are:

Global Strategy I: How the global economy works

Starting in the late 1990s, “globalization” became a buzzword to describe the apparent integration of markets in the world economy. Many authors and pundits claimed that the world was converging towards a market-friendly democratic place, while gurus and consulting firms were not short of formulae and advice on how to make profits out of the global economy. Decades later, new realities show that globalization does not mean political, cultural, and economic convergence and that forces against it are strong.

This course seeks to help you understand the forces of globalization and how cross-cultural management and the relationship of a multinational organization to various host countries is becoming more and more critical in today’s global economy. This course begins with the discussion of these issues and global relationships and delves into a deeper understanding of business strategy in today’s global business marketplace.

Upon successful completion of this course, you will be able to:

  • Understand how we got here and why it matters
  • Understand the complexities of the current globalization (not all countries are the same)
  • Evaluate the effects of international trade regulations on international business
  • Evaluate when and why should we operate as multinationals

Global Strategy II: Doing business in the global economy

Starting in the late 1990s, “globalization” became a buzzword to describe the apparent integration of markets in the world economy. Many authors and pundits claimed that the world was converging towards a market-friendly democratic place, while gurus and consulting firms were not short of formulae and advice on how to make profits out of the global economy. Decades later, new realities show that globalization does not mean political, cultural, and economic convergence and that forces against it are strong.

This course seeks to understand how firms adapt to, react towards, and shape the global economy.  Students should be able to evaluate markets and the best strategies firms should follow when operating globally.

Upon successful completion of this course you will be able to:

  • Understand the different options multinationals have when deciding to operate abroad
  • Determine when to go global small, big, fast, or slow
  • Understand the effects of politics on the strategy of firms operating globally
  • Determine under what circumstances a multinational should partner with a domestic actor or not

The two components for this course are:

Cultural Psychology of Globalization

Globalization has brought dramatic changes to the marketplace. A proliferation of global brands brings diverse cultures to a consumer population that is also growing culturally diverse. This course enables students to understand how globalization changes consumers at a psychological level, and provides tools for imbuing brands with cultural meanings—creating iconic brands—that can resonate with global consumers. The focus is on understanding that culture exists in the mind (e.g., values and beliefs) as well as in the environment (e.g., objects, brands, and institutions), and that globalization creates multi-cultural spaces in contemporary societies. Consumers can use the cultural meaning of a brand to build their identities (i.e., assimilate the brand cultural symbolism) or reject the brand’s cultural meaning(s) (i.e., exclusionary reactions). The course will help students identify when assimilation vs. exclusionary reactions are more likely to occur, as well as devise strategies for imbuing brands with cultural meanings that can elevate them to the status of cultural icons.  

Upon successful completion of this course, you will be able to:

  • Understand how globalization impacts the psychological responses of consumers in global markets
  • Understand what culture is and how it manifests itself
  • Understand how brands acquire cultural meanings
  • Predict consumers’ responses to the cultural meanings in brands
  • Identify strategies to win-over multi-cultural consumers in globalized markets
  • Learn how to build an iconic brand

The Ethical Process

This course is to train the student to use well-reasoned processes by which to arrive at ethically defensible decisions rather than to teach the student what are “correct” or “ethical” decisions or solutions. What is important in ethical decision making is not reaching the answer that everyone else would have reached had they been faced with a similar dilemma, but arriving at a defensible answer through utilization of an ethical process. The course will examine the means by which one makes a decision, not what that decision should be.

This course will examine the ethical bases of corporate decision making and other business activities, using critical ethical analysis and educate the student regarding ethical issues in business, to create sensitivity to the normative dimensions and consequences of one’s decisions, as well as to train the student in critical thinking and moral/ethical analysis. Critical thinking is the ability to address issues from both sides, to evaluate the best arguments of each side, and to arrive at a conclusion based upon a systematic analysis of these arguments. Critical thinking requires students to discover bias, viewpoints and perspectives that affect the accuracy and persuasiveness of oral or written arguments, and to uncover reasoning errors or logical fallacies. Critical thinkers are therefore better able to defend viewpoints, to evaluate issues, to analyze new information, and to reach ethical conclusions.

Upon successful completion of this course you will be able to:

  • Become morally sensitive to ethical dilemmas in global commerce
  • Identify ethical issues in global business
  • Master stakeholder analysis
  • Address issues from more than one point of view
  • Use a well-reasoned process by which to arrive at ethically-defensible decisions
  • Evaluate good and weak arguments
  • Defend your conclusions

The capstone for the specialization will provide a learning experience that integrates across all the courses within that specialization. It will involve analysis of a situation concerning an actual business with a view to work toward a global stakeholder engagement business plan for introduction of a new product. Students will analyze a situation taking the vantage point of a global company and develop a global stakeholder engagement plan for a specific geography (chosen by students’ region or country of residence, or other consideration).

The global stakeholder engagement business plans will be peer reviewed in a crowd-sourcing format as part of a poster session, with participation by one or more focal companies. The deliverable will be designed to create value from the perspective of potential employers while achieving pedagogical and experiential goals for learners. Learner assessment for the capstone will include quizzes as well as peer reviews of capstone projects.

Faculty

He is a professor of business administration and the Diane and Steven N. Miller Centennial Chair in the College of Business. His research interests are in measurement and research methodology as well as in literacy, poverty, and subsistence marketplace behaviors. He has authored books in both areas: Measurement Error and Research Design, Enabling Consumer and Entrepreneurial Literacy in Subsistence Marketplaces, and Subsistence Marketplaces. He directs the Subsistence Marketplaces Initiative and has pioneered the area of inquiry and practice entitled subsistence marketplaces, taking a bottom-up approach to the study of the intersection of poverty and marketplaces and developing unique synergies between research, teaching, and social initiatives. He has received awards for research, teaching, curriculum development, social entrepreneurship, humanitarianism, leadership, public engagement, international achievement, and career achievement. He serves on the Livelihoods Advisory Board for the United Nations High Commissioner for Refugees (UNHCR) and is designing marketplace literacy education for refugees and a course for UNHCR staff on subsistence marketplaces. He holds a PhD in marketing from the University of Minnesota and a bachelor of technology degree in mechanical engineering from the Indian Institute of Technology.

Marcelo Bucheli obtained his PhD from Stanford University and has a B.Sc and MA in Economics from Universidad de los Andes (Bogotá, Colombia).  He was the 2004-2005 Harvard-Newcomen Fellow in Business History at Harvard Business School where he taught at the MBA program. In 2013 he was a visiting professor at the École Polytechnique (Paris, France) and between 2014 and 2015 he was the John H. Dunning Fellow in International Business at Henley Business School, University of Reading (United Kingdom).   Marcelo teaches international business at the University of Illinois at Urbana-Champaign, where he won a teaching award for his 2014 MBA course. He has also taught courses on globalization at the Chinese University of Hong Kong and at Universidad de los Andes. Marcelo’s research focuses on the political strategies of multinational corporations, from which he has published more than thirty articles and essays including several award-winning ones, a book (Bananas and Business, New York University Press, 2005), an edited collection (Organizations in Time, Oxford University Press, 2015) and articles for practitioners in Harvard Business Review and Latin Trade. Marcelo is currently a senior consultant at the Winthrop Group (New York), was previously an associate at Shelley Taylor and Associates (Palo Alto, California), and has been hired as a consultant and expert witness for cases of political conflicts between oil and agricultural multinationals in developing countries.

Carlos Torelli is a Professor of Marketing in the Department of Business Administration at the University of Illinois at Urbana-Champaign. His research focuses on cross-cultural consumer psychology. Specifically, in his research he tries to identify the key cultural factors that drive consumers’ reactions in a globalized economy. Professor Torelli’s research specialties include global branding, the social psychology of power, cross-cultural consumer behavior, and persuasion.

Patricia H. Werhane is Adjunct Professor of Business Administration at the University of Illinois, Ruffin Professor Emerita at the University of Virginia, and Wicklander Chair Emerita at DePaul University. She has written or edited 30 books and over a hundred articles and book chapters, including Adam Smith and his Legacy for Modern Capitalism and Moral Imagination and Management Decision-Making, both at Oxford University Press.

Werhane is the founder and former editor-in-chief of Business Ethics Quarterly, the leading journal of business ethics, and was a founding member and past president of the Society for Business Ethics. Before joining the Darden faculty in 1993, Werhane served on the faculty of Loyola University Chicago, was a Rockefeller Fellow at Dartmouth College, and a visiting scholar at Cambridge University.

Her latest book is Obstacles to Ethical Decision-Making with L. Hartman, C. Arher, E. Englehardt, and M. Pritchard, published by Cambridge University Press. She is currently an Executive Producer of Emmy Award Winning documentary television series on global poverty alleviation: Big Questions

Innovation: From Creativity to Entrepreneurship

Entrepreneurship-and-Strategic-Innovation

In a world characterized by volatility, uncertainty, complexity, and ambiguity, leaders require innovation skills. Thinking flexibly and developing an entrepreneurial mindset are critical to thriving in uncertain business environments. This specialization addresses how to recognize and question assumptions and constraints so as to identify and capitalize on opportunities. Innovation is needed within existing organizations and to found new organizations. Learning to change the rules of the game by creating innovative value propositions and discovering new market positions for sustained competitive advantage are some of the actionable lessons in this specialization.

 

This specialization will be of value to both aspiring and practicing entrepreneurs as well as employees in established firms who are interested in becoming innovative leaders in an interconnected world.

Learning outcomes

  • Develop an entrepreneurial mindset
  • Understand how to manage and innovate in uncertainty
  • Understand when, why, and how to think creatively
  • Assess the feasibility of a new venture and the diversity of challenges involved

Courses

This course has two components

Strategic Innovation: Building and Sustaining Innovative Organizations

 Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs and capturing value back from consumers.

At the core of a successful innovation strategy is a great product concept. Product is an all-encompassing term that includes physical goods, intangible services, and even ideas. There are the three pillars to a successful product strategy: a clear understanding of (a) the target customers (WHO), (b) the specific elements of the product offering (WHAT) that satisfies consumer needs and dovetails with company capabilities, and (c) the tactical plans to reach end consumers (HOW).  But well-laid innovation plans can go awry without a consideration of the business ecosystem that includes collaborators including suppliers, distributors, and retailers, or the contextual environment in which the company operates.  In an interdependent world, fostering an integrated ecosystem is critically important for companies interested in maximizing the odds of innovation success.

Drawing from many years of research, this course will offer a set of frameworks, tools, and concepts in order to develop innovative strategies in a holistic way so as to achieve leadership positions.

Upon successful completion of this course, you will be able to:

  • Design appropriate value propositions forthe target consumer segments;
  • Leverage the understanding of the industry context in the development of innovative strategies;
  • Develop a winning product combination that aligns company capabilities with consumer expectations; and
  • Ensure a win-win-win strategy for the company, consumers, and the ecosystem by mapping the company’s offeringswithin the broader business ecosystem in order to ensure that the integrated system delivers unique and differentiated value to consumers.

Strategic Innovation:  Innovation at the Frontier: An Exploration of Cutting-Edge Topics

In his influential book, The Innovator’s Dilemma, Professor Clayton Christensen, introduced the term disruption to the popular lexicon. Disruption refers to the failure of well-managed firms to succeed when faced with technological change associated with disruptive technologies, i.e. technologies that are inferior in the beginning but get better soon enough to precipitate the failure of entrenched firms. The very practices that made incumbent firms successful in managing sustaining technologies may actually prove to be debilitating while managing disruptive technologies.

Drawing from many of collective research in disruptions, this course will offer a set of frameworks, tools, and concepts in order to manage the unique challenges and develop innovative strategies while managing disruptive innovations so as to achieve leadership positions.

Upon successful completion of this course, you will:

  • Understand the concept of disruption
  • Develop a framework to manage disruptive innovations
  • Understand how a company can move from being a pipeline company to a platform company
  • Learn about cutting edge topics in innovation such as crowdsourcing, open innovations and user innovations.

This course has two components

The Creativity Toolkit: Changing Perspectives

Thinking and doing the same things faster and better is not enough, we need creativity. Fortunately, creativity is a skill you can learn. This course will examine when, why, and how we can be creative. It examines the cues that trigger us to consider being creative. It provides a roadmap of the creative process—the process of changing our perspectives—and the kinds of outcomes that result from creativity. It examines how we can go through the creative process more efficiently and more effectively through examining what is changing about our thinking and how we can make those changes. The end result is more flexible thinking that can be used to recognize and develop new opportunities.

Upon successful completion of this course, you will be able to:

  • Initiate creativity more frequently
  • Progress through the creative process more systematically
  • Generate more and better product ideas

The Creativity Toolkit: Creative Collaboration

Creativity requires us to collaborate with others. This course is designed to make you a better creative collaborator. Creativity can require us to bring together knowledge from different areas, often known by different people. We need to foster effective collaboration rather than have those differences lead to misunderstandings and conflict. The ideas that we generate, individually or collectively, will be evaluated by others, such as bosses, funders, and customers. These different audiences likely have different concerns when they hear about your ideas and are likely to evaluate ideas differently than you do. We need to pitch our ideas in ways that get others get excited about them rather than bored or confused by them so that we can expand the group of collaborators in our creative efforts.

Upon successful completion of this course, you will be able to:

  • Understand how to work effectively with other people to generate creative ideas
  • Understand how others might perceive and evaluate your ideas
  • Understand how to pitch creative ideas so that audiences are more likely to accept them

More details available soon-

The two components of the course involve Entrepreneurship in stages:

Startup

This component provides an understanding of the rich diversity of challenges that confront those creating new enterprises, whether a venture of one’s own or within a larger organization. Moving from an idea into a viable business creates its own set of challenges: From recognizing opportunity and assessing its viability to creating a business plan and financing the new venture.

Managing venture growth

This component provides insights into another set of challenges and opportunities entrepreneurs face  once a new venture picks up. Students will learn about managing growth while considering business models and cash issues, building the team with organizational and managerial issues.

Students will be exposed to leading authors in the field and to “live cases” (real entrepreneurs and intrapreneurs). This course draws on students’ collective learning experiences. Students learn to carefully assess the feasibility of a new venture in a VUCA world and learn to judge their own unique capacity for engaging in entre- and/or intrapreneurship.

 

The capstone for the specialization will provide a learning experience that integrates across all the courses within it. It will involve analysis of a situation concerning a new enterprise – a venture of one’s own or within a larger organization – to develop the current business model and compare against alternative business models so as to identify potential opportunities and challenges. Students will analyze the business model including the value proposition, revenue model, resources, and capabilities, taking the vantage point of the enterprise and develop a plan for a specific geography (chosen by students’ region or country of residence, or other consideration).

The entrepreneurship and strategic innovation plans will be peer reviewed in a crowd-sourcing format as part of a poster session, with participation by one or more focal companies. The deliverable will be designed to create value from the perspective of potential employers while achieving pedagogical and experiential goals for learners. Learner assessment for the capstone will include quizzes as well as peer reviews of capstone projects.

Faculty

He is the Senior Associate Dean of MBA Programs, professor of business administration, and James F. Towey Faculty Fellow. He is also an affiliate faculty in the Institute of Genomic Biology at the University of Illinois. Echambadi’s major research interests focus on innovations in business strategy, technology entrepreneurship, and customer loyalty. His paper on employee entrepreneurship won an award as the best paper published in the Academy of Management Journal in 2004, and since 2011 he has won annual awards for teaching excellence, including Outstanding Professor in the Executive MBA program from 2011 to 2013. In 2013 he was also selected as one of 50 people who helped shape the College of Business at the University of Central Florida over the past 50 years as part of their 50th anniversary celebrations. Echambadi holds a PhD in business administration from the University of Houston and a BS in mechanical engineering from Anna University. He has served as a strategy consultant for several companies, including Coca Cola, Country Financial, Toyota, and Wrigley.
He is an associate professor of business administration. His research examines how people generate, learn, and apply knowledge, primarily through studying analogy, categories, and vocabularies. His work provides guidance for negotiating, making decisions, communicating, and working together more effectively. A prolific author, he has published extensively and won awards such as the EGOS Conference Best Subtheme Paper, Most Downloaded Article of the Year in Cognitive Science, and numerous grants for his excellence in research. He received his PhD from Northwestern University and taught previously at the Kellogg School of Management, Columbia Business School, and The University of Texas at Austin.
Jack Goncalo is an associate professor of business administration. He received his Ph.D. in Business Administration in 2004, an M.S. in Organizational Behavior in 2001 and a B.A. in Psychology in 1999, all from the University of California at Berkeley . He conducts research on group processes and performance, particularly group creativity and the quality of group decision making. Although most research in Organizational Behavior emphasizes the value of being a “team player” his research suggests that in order to spark creativity, organizations should emphasize individualistic norms and individual achievement. He co-edited the book Research on Managing Groups and Teams: Creativity in Groups (vol. 12). His research has been published in Organizational Behavior and Human Decision Processes, Management Science, Psychological Science, Journal of Experimental Social Psychology and Personality and Social Psychology Bulletin. It has also been featured on CNN, Businessweek, The Wall Street Journal, US News & World Report, Fast Company and Fortune.
Janet Bercovitz is an associate professor in the Department of Business Administration.  She holds a B.S. degree in chemistry, and MBA, and a Ph.D. from the University of California, Berkeley.  Professor Bercovitz’s primary research interest is in the economics of organization with a focus on organizational structure and contractual relationships.  Current projects explore the organization of university-industry technology transfer, the relationship-contract link in sponsored research projects and the structure of business-format franchise agreements.  Her articles appear in journals such as Management ScienceOrganization Science, Research Policy, Strategic Management Journal, Journal of Industrial Ecology, and the Journal of Technology Transfer.

Professor Bercovitz teaches business courses in both entrepreneurship and strategy at the undergraduate, graduate and executive level.  Before attending graduate school, She worked as a chemist for American Pharmaseal, a division of Baxter Travenol, and as a market analyst and consultant for Technology Forecasters. After receiving her Ph.D., she taught in the Fuqua School of Business, Duke University before joining the UIUC in 2005.

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Digital Marketing

Digital-Marketing

This specialization covers the concepts, tools, and techniques needed to communicate with customers in a systematic and integrated way and to create effective, targeted promotional campaigns. When you complete the Digital Marketing Specialization, you will understand strategic marketing concepts and the tools required to make informed decisions and set the direction for your company, business unit, department, or product line in a digital ecosystem.

Learning outcomes

  • Understand the application of marketing tools and strategies in the digital environment
  • Employ marketing analytics to visualize and use data
  • Understand how digital channels are used in marketing

Courses

This course will examine how digital tools, such as the Internet, smartphones, and 3-D printing, are revolutionizing the world of marketing by shifting the balance of power from firms to consumers.
Learn the introductory theory and strategy behind marketing analytics that provides marketers with the foundation needed to apply data analytics to real-world challenges they confront daily in their professional lives. The course then builds on the theory and foundations of marketing analytics and focuses on practical application by demystifying the use of data in marketing and helping you realize the power of visualizing data with artful use of numbers found in the digital space.
Learn the role of digital channels in an integrated marketing campaign and why you need a digital strategy. Interact with the content and learn from a variety of examples.

The capstone for the specialization will provide a learning experience that integrates across all the courses within it. It will involve analysis of a situation concerning an actual business to develop a digital marketing plan for introduction of a new product. The digital marketing plan will involve visualizing and using data and digital tools, and choosing digital channels to communicate with customers through a promotional campaign. Students will analyze a situation taking the vantage point of a global company and develop a digital plan for a specific geography (chosen by students’ region or country of residence, or other consideration.

The digital marketing plans will be peer reviewed in a crowd-sourcing format as part of a poster session with participation by one or more focal companies. The deliverable will be designed to create value from the perspective of potential employers while achieving pedagogical and experiential goals for learners. Learner assessment for the capstone will include quizzes as well as peer reviews of capstone projects.

 

Faculty

She is the Director of Strategic Programs and Outreach and an adjunct instructor in the Charles H. Sandage Department of Advertising in the College of Media. Her research and teaching interests are in advertising and entrepreneurship. She was awarded the Chancellor’s Academic Professional Excellence Award in 2015 and was a finalist for the same award in 2013. She was also selected for the Central Illinois Business Forty Under Forty in 2009. She holds an MBA with a concentration in international business from Salem International University and a BS in advertising from the University of Illinois at Urbana-Champaign.
He is the Head of Industry at Google and adjunct instructor of business administration in the College of Business. He is a devoted and artistic practitioner of data who believes that data must express insights in ways that are just as creative as the ideas they activate. He specializes in program, project, and campaign management, account development and solution selling, customer segmentation and targeting, and customer value management. At Google, Hartman and his team partner with major advertisers, creative agencies, and media companies to develop digital solutions that build businesses and brands. His approach mixes science and art to deliver inventive, fact-based strategies that reduce uncertainty and increase effectiveness in the marketing and advertising programs they create. He received his BA from the University of Notre Dame and MBA and MPP at the University of Chicago.
He is a professor of business administration and department head, and John M. Jones Professor of Marketing. He has dozens of publications in highly regarded journals, including the Journal of Consumer Research, Journal of Marketing, and Journal of Marketing Research. He has won several teaching and research awards, including the Harold Maynard Award for the best paper in the Journal of Marketing. In 2012, he was listed in Princeton Review’s “The Best 300 Professors.” He serves as an associate editor for the Journal of Marketing, Journal of Supply Chain Management, and the International Journal of Research in Marketing. He has also organized and chaired several conferences, including the 2013 AMA Winter Conference. Rindfleisch holds a PhD from the University of Wisconsin at Madison, an MBA from Cornell University, and a BS from Central Connecticut State University.