Waiter Analysis East Solutions
UNIVERSITY OF NORTH CAROLINA KENAN-FLAGLER BUSINESS SCHOOL
MBA ELECTIVE COURSE Strategy, Risk and Uncertainty
MBA 811-001 Mod IV, 2013 9:30 a.m. – 10:50 a.m. Tuesdays and Thursdays McColl 2575 Professor Rich Bettis McColl 4419B Email: r_bettis@unc.edu Assistant: Ann Ravenscraft (Suite 4600) Office Hours: Drop By or By Appointment
Course Overview, Philosophy, and Objectives: This course is designed as an elective for MBA and EMBA program participants that have already studied the required introductory course in strategy. It deals primarily with two highly related sets of issues: (1) How can we think about and do strategy in a world that is inherently uncertain; and (2) how can we understand and deal with the difficulties/limitations that managerial (human) cognition places on learning and adapting in an uncertain world. As you will see these two sets of issues are closely related. We live and manage in a highly turbulent, fast-paced world where risk and uncertainty permeate all important decisions. Nobody enjoys being faced with uncertainty. It makes us all feel uncomfortable. I makes us feel a lack of control. Some managers prefer to retreat to certainty, or more specifically the illusion of certainty. Such managers want to believe that the future can be forecast with enough precision to identify the “right” or “optimal” strategy. Others prefer to abandon analytical rigor entirely. These managers trust in intuition or experience to identify a workable strategy. Both approaches are likely to result in significant strategic errors and destruction of value. The course will develop tools, concepts and approaches for dealing with risk and uncertainty in both strategy and in strategists (and managers). Most of these will be widely used or best practices. Some will be based on recent research that is starting to diffuse into current managerial practice. Specifically, the learning objectives of the course are as follows: 1. Participants will develop an understanding
MBA ELECTIVE COURSE Strategy, Risk and Uncertainty
MBA 811-001 Mod IV, 2013 9:30 a.m. – 10:50 a.m. Tuesdays and Thursdays McColl 2575 Professor Rich Bettis McColl 4419B Email: r_bettis@unc.edu Assistant: Ann Ravenscraft (Suite 4600) Office Hours: Drop By or By Appointment
Course Overview, Philosophy, and Objectives: This course is designed as an elective for MBA and EMBA program participants that have already studied the required introductory course in strategy. It deals primarily with two highly related sets of issues: (1) How can we think about and do strategy in a world that is inherently uncertain; and (2) how can we understand and deal with the difficulties/limitations that managerial (human) cognition places on learning and adapting in an uncertain world. As you will see these two sets of issues are closely related. We live and manage in a highly turbulent, fast-paced world where risk and uncertainty permeate all important decisions. Nobody enjoys being faced with uncertainty. It makes us all feel uncomfortable. I makes us feel a lack of control. Some managers prefer to retreat to certainty, or more specifically the illusion of certainty. Such managers want to believe that the future can be forecast with enough precision to identify the “right” or “optimal” strategy. Others prefer to abandon analytical rigor entirely. These managers trust in intuition or experience to identify a workable strategy. Both approaches are likely to result in significant strategic errors and destruction of value. The course will develop tools, concepts and approaches for dealing with risk and uncertainty in both strategy and in strategists (and managers). Most of these will be widely used or best practices. Some will be based on recent research that is starting to diffuse into current managerial practice. Specifically, the learning objectives of the course are as follows: 1. Participants will develop an understanding