Applied Management Principles (AMP): Course Work and Syllabus

AMP Program

Coursework:

This executive education program is designed for select industry participants, as well as doctoral students in science and engineering who will likely move into the private sector (rather than academe) after completion of their studies. Whether the participants find themselves in a research and development position, a technical service role, or even in sales in a company, they will likely have to deal with management issues and managers in a "for-profit" setting. Ultimately, many may assume senior management roles in their companies or start their own enterprises. In most cases, they will find that a basic understanding of the functional fundamentals of business management proves most useful.

Accordingly, although brief, this program covers the most important concepts and principles in each of the major functional areas of management: Accounting, Human Resource Management, Financial Management, Marketing Management, and Strategic Management.  We also touch on Entrepreneurship.

Accounting:

The Accounting segment introduces participants to Generally Accepted Accounting Principles, which they use to learn how to read, understand, and analyze financial statements and the important steps in their preparation. We also cover such other topics as breakeven analysis, how to make special pricing decisions, whether to continue to operate or shut down a business unit, and other cost-volume-profit analyses. We also address the preparation of effective budgets for planning and control.

Human Resource Management:

We next examine management of the "people side" of the business. In this segment, participants learn such things as how to plan for and manage the Human Resource function -- including topics like HR planning, recruiting and selection, performance evaluation, and effective compensation systems. If you don't know how to manage your people, business success can be elusive, even when everything else seems to be going right.

Financial Management:

The Financial Management segment emphasizes the theme, "Maximization of Shareholder Wealth," and includes analysis and planning tools that can lead to better decisions for enhancing the intrinsic economic value of the company. We start with the basics of financial statement analysis and then move into financial planning. This provides the bases for examining the efficient management of working capital -- which, in turn, can lead to a higher valuation of the firm. We spend time on a basic understanding of the principles of the time value of money and valuation (including stocks and bonds), as these are requisite to making optimum investment decisions. Finally, we introduce such special topics as acquisitions, divestitures, and international finance.

Marketing Management:

We break down Marketing Management into its core components and explore each -- from the quality, price, and value trade-offs to the analysis of marketing opportunities. We highlight the importance of effective market planning by taking a step-by-step approach. This includes such traditional considerations as environmental and competitive analyses, characterizing buyer behavior and buying priorities, and effective ways of segmenting your markets. We cover the special topics, product positioning and pricing, in some detail, and we also discuss methods of evaluating and controlling marketing performance. Finally, we introduce the principles of international marketing, comparing them to those required when marketing solely in a domestic environment.

Strategic Management:

The Strategic Management segment brings all of the prior functional processes and concepts together in addressing the principal question: How do you best manage the overall enterprise? We present and discuss in detail the five basic tasks of strategic management, and we explore some of the more important organizational strategies. We demonstrate a step-by-step approach for the definition and implementation of successful strategies, and we consider the requirements for creating shareholder value with a situationally-appropriate strategy.

Entrepreneurship:

The changing dynamics of the workplace and the continuing downsizing of large, corporate America have resulted in a dramatic increase in small business start-ups by would-be entrepreneurs. These numbers are further swelled by technology PhD graduates going directly into their own businesses, often based on their doctoral research. Starting and successfully building a new business is significantly different, in many ways, than trying to grow the already existing company. The entrepreneurship segment addresses these differences and gives participants a good overview of the entrepreneurial process -- with emphasis on the success-critical steps in the process.

Participants receive comprehensive class notes for each program segment. In addition, we assign pre-program readings so that participants arrive prepared to maximize the returns on their participation. We also assign and discuss readings, cases, problem sets, and other homework assignments during the program. Please note, however, that these are not graded assignments, and there are no exams in the program.

Course Syllabus:

Accounting (12 class hours)

Human Resource Management (6 class hours):

Financial Management (12 class hours):

Marketing Management (12 class hours):

Strategic Management (6 class hours):

Entrepreneurship (4 class hours):