Accounting Principles: A Business Perspective uses annual reports of real companies to illustrate many of the accounting concepts in use in business today. Gaining an understanding of accounting terminology and concepts, however, is not enough to ensure your success. You also need to be able to find information on the Internet, analyze various business situations, work effectively as a member of a team, and communicate your ideas clearly. This text was developed to help you develop these skills.
Law has different meanings as well as different functions. Philosophers have considered issues of justice and law for centuries, and several different approaches, or schools of legal thought, have emerged. In this chapter, we will look at those different meanings and approaches and will consider how social and political dynamics interact with the ideas that animate the various schools of legal thought. We will also look at typical sources of “positive law” in the United States and how some of those sources have priority over others, and we will set out some basic differences between the US legal system and other legal systems.
Recent developments in contract theory. Includes advanced models of moral hazard, adverse selection, mechanism design and incomplete contracts with applications to theory of the firm, organizational design, and financial structure.
This class covers the analysis and modeling of stochastic processes. Topics include measure theoretic probability, martingales, filtration, and stopping theorems, elements of large deviations theory, Brownian motion and reflected Brownian motion, stochastic integration and Ito calculus and functional limit theorems. In addition, the class will go over some applications to finance theory, insurance, queueing and inventory models.
This course draws on a wide range of perspectives to explore the roots of long term competitive advantage in unusually successful firms. Using a combination of cases, simulations, readings and, most importantly, lively discussion, the course will explore the ways in which long term advantage is built from first mover advantage, increasing returns, and unique organizational competencies. We will focus particularly on the ways in which the actions of senior management build competitive advantage over time, and on the strategic implications of understanding the roots of a firm's success.
This course provides a deep understanding of engineering systems at a level intended for research on complex engineering systems. It provides a review and extension of what is known about system architecture and complexity from a theoretical point of view while examining the origins of and recent developments in the field. The class considers how and where the theory has been applied, and uses key analytical methods proposed. Students examine the level of observational (qualitative and quantitative) understanding necessary for successful use of the theoretical framework for a specific engineering system. Case studies apply the theory and principles to engineering systems.
This half-semester course introduces and surveys a selection of cutting-edge topics in the field of real estate finance and investments. The course follows an informal ŰĎseminarŰ format to the maximum degree possible, with students expected to take considerable initiative. Lectures and discussions led by the instructors will be supplemented by several guest speakers from the real estate investment industry, who will present perspectives on current trends and important developments in the industry.
" In analyzing fiscal issues, conventional public finance approaches focus mainly on taxation and public spending. Policymakers and practitioners rarely explore solutions by examining the fundamental problem: the failure of interested parties to act collectively to internalize the positive externalities generated by public goods. Public finance is merely one of many possible institutional arrangements for assigning the rights and responsibilities to public goods consumption. This system is currently under stress because of the financial crisis. The first part of the class will focus on collective action and its connection with local public finance. The second part will explore alternative institutional arrangements for mediating collective action problems associated with the provision of local public goods. The objective of the seminar is to broaden the discussion of local public finance by incorporating collective action problems into the discourse. This inclusion aims at exploring alternative institutional arrangements for financing local public services in the face of severe economic downturn. Applications of emerging ideas to the provision of public health, education, and natural resource conservation will be discussed."
Overview of airline management decision processes, with a focus on economic issues and their relationship to operations planning models and decision support tools. Application of economic models of demand, pricing, costs, and supply to airline markets and networks. Examination of industry practice and emerging methods for fleet planning, route network design, scheduling, pricing and revenue management, with emphasis on the interactions between the components of airline management and profit objectives in competitive environments. Students participate in a competitive airline management simulation game as part of the subject requirements.
This class examines how and why twentieth-century Americans came to define the ŰĎgood lifeŰ through consumption, leisure, and material abundance. We will explore how such things as department stores, nationally advertised brand-name goods, mass-produced cars, and suburbs transformed the American economy, society, and politics. The course is organized both thematically and chronologically. Each period deals with a new development in the history of consumer culture. Throughout we explore both celebrations and critiques of mass consumption and abundance.
This course presents real-world examples in which quantitative methods provide a significant competitive edge that has led to a first order impact on some of today's most important companies. We outline the competitive landscape and present the key quantitative methods that created the edge (data-mining, dynamic optimization, simulation), and discuss their impact.
This course covers the key quantitative methods of finance: financial econometrics and statistical inference for financial applications; dynamic optimization; Monte Carlo simulation; stochastic (ItĺŞ) calculus. These techniques, along with their computer implementation, are covered in depth. Application areas include portfolio management, risk management, derivatives, and proprietary trading.
Explores how organizations can use system dynamics to achieve important goals. Student teams work with client managers to tackle the clients' most pressing issues. Students discuss experiences with their clients, and learn modeling and consulting skills they need to be effective. Focus on gaining practical insight from the system dynamics process. Projects are sponsored by diverse organizations from a range of industries and sizes from start-ups to the Fortune 500.
Develops facility with concepts, language, and analytical tools of economics. Covers microeconomics, macroeconomics, and international trade and payments. Emphasizes integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing US and international business environments. Restricted to Sloan Fellows. The fact of scarcity forces individuals, firms, and societies to choose among alternative uses -- or allocations -- of its limited resources. Accordingly, the first part of this summer course seeks to understand how economists model the choice process of individual consumers and firms, and how markets work to coordinate these choices. It also examines how well markets perform this function using the economist's criterion of market efficiency. Overall, this course focuses on microeconomics, with some topics from macroeconomics and international trade. It emphasizes the integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing U.S. and international business environments.
An introduction to bargaining and negotiation in public, business, and legal settings. Combines a "hands-on" skill-building orientation with a look at pertinent social theory. Strategy, communications, ethics, and institutional influences are examined as they influence the ability of actors to analyze problems, negotiate agreements, and resolve disputes in social, organizational, and political circumstances characterized by interdependent interests.
Surveys research which incorporates psychological evidence into economics. Prospect theory. Biases in probabilistic judgment. Self-control and mental accounting with implications for consumption and savings. Fairness, altruism, and public goods contributions. Financial market anomalies and theories. Impact of markets, learning, and incentives. Some evidence on memory, attention, categorization, and the thinking process.
Lean thinking, as well as associated processes and tools, have involved into a ubiquitous perspective for improving systems particularly in the manufacturing arena. With application experience has come an understanding of the boundaries of lean capabilities and the benefits of getting beyond these boundaries to further improve performance. Discrete event simulation is recognized as one beyond-the-boundaries of lean technique. Thus, the fundamental goal of this text is to show how discrete event simulation can be used in addition to lean thinking to achieve greater benefits in system improvement than with lean alone. Realizing this goal requires learning the problems that simulation solves as well as the methods required to solve them. The problems that simulation solves are captured in a collection of case studies. These studies serve as metaphors for industrial problems that are commonly addressed using lean and simulation.
While big data infiltrates all walks of life, most firms have not changed sufficiently to meet the challenges that come with it. In this course, you will learn how to develop a big data strategy, transform your business model and your organization.
This course will enable professionals to take their organization and their own career to the next level, regardless of their background and position.
Professionals will learn how to be in charge of big data instead of being subject to it. In particular, they will become familiar with tools to:
assess their current situation regarding potential big data-induced changes of a disruptive nature,
identify their options for successfully integrating big data in their strategy, business model and organization, or if not possible, how to exit quickly with as little loss as possible, and
strengthen their own position and that of their organization in our digitalized knowledge economy
The course will build on the concepts of product life cycles, the business model canvas, organizational theory and digitalized management jobs (such as Chief Digital Officer or Chief Informatics Officer) to help you find the best way to deal with and benefit from big data induced changes.
This is an entire course/e-textbook that was formerly the Boundless Business text that was purchased by Lumen Learning and maintained in its current form.
The material presented in this resource is generally accurate especially considering that it reflects standard business practices and concepts that have changed little. A few of the examples given in the text could be a bit dated, which indicates that its utility may come from linking to specific parts of the course rather than using it as an entire textbook substitute. There does not appear to be a great deal of bias with this work, since its positioning is relatively generic to the facts and figures and it typically steers clear of opinions and judgments. An instructor could easily remix this with more current, relevant, and culturally deeper examples.
The text includes detailed images and graphs that are well done and help drive home visual concepts. It is limited in terms of interactivity and is still a text heavy presentation. This material is published as CC-Sharealike so it can be remixed but not revised. Lumen has taken some responsibility for the fact that it can still be edited but likely not updated to increase its currency. Since Lumen owns this material, it is likely to be here in this state for a long while.
Most of the material is relevant to any Introductory Business course with concepts that would apply for a long period of time. This material generally ages well, it just needs to be paired with continually more updated and relevant examples as technologies and markets change. Student could likely meet their learning goals and interests with this material as a support (curated by the instructor) to an existing course but it likely does not standalone as a full course resource. It seems most useful for providing depth to key points with direct links to sub-pages within this course.
The defining challenge facing business leaders is to develop and drive performance into the future.
For commercial firms, this generally means building profits and growing the value of the business.
Although their focus may be on non-financial outcomes, public services, voluntary groups, and other
not-for-profit organizations share the same central challenge—continually improving their
performance. When the causes of performance through time are not understood, management has
difficulty making the right decisions about important issues. Worse, entire organizations are led into
ill-chosen strategies for their future.
To overcome these problems, leaders need the means to answer three basic questions:
1. Why is business performance following its current path?
2. Where are current policies, decisions, and strategy leading us?
3. How can future prospects be improved?
These questions are the starting point for this book.