MBA Online

ICS , Graduate Schl f Internatinal Crprate Strategy

[Term 4] Change Management (K. Ichij) (2009/Term 3&4 (Spring&Summer))

This curse is abut rganizatinal change management, in which a firm seeks t successfully mbilize peple fr change t imprve its business perfrmance.

Business leaders face varius challenges. Challenges f launching new grwth strategies, challenges f implementing new business mdels, and challenges f accmplishing crprate transfrmatin, t name a few. Business leaders have t implement change initiatives and mbilize the entire rganizatin fr change s that they can vercme the challenges facing them.

Change, hwever, is nt easy. ld habits die hard. Peple are afraid f change. Every change initiative faces resistance; therefre, business leaders shuld be gd at managing change. Successful change management aims t manage change prcesses successfully s that the challenges identified can be effectively and efficiently vercme within a shrter perid f time.

In this curse, students will study leadership, prcesses, and key enablers fr successful change management.
Curse Structure

ICS , Graduate School of International Corporate Strategy
The curse is structured s that the students will have a better understanding f the successful executin f change initiatives. Effective change management is required when business leaders launch new initiatives t vercme the challenges facing them. Therefre, in this curse, several key leadership challenges such as the executin f a new grwth strategy, a new business mdel, a new rganizatin, and crprate transfrmatin will be studied. In this study, the fllwing key prcesses fr change management will be examined.
Assessing change necessity.
Shaping a visin fr a change initiative.
Mbilizing cmmitment: Spnsring frm abve; repeating small wins; and caching and guiding.
Making change last: embedding new culture; and establishing scial netwrk.
Teaching Methd

This curse will be taught using the Harvard Business Schl type f case methd. Students will be asked t prepare a case and discuss questins designated by the instructr fr each sessin. Mst learning will take place in class primarily frm cmments made by fellw students. The rle f the instructr will be t facilitate stimulating discussin.

ICS , Graduate School of International Corporate Strategy

[Term 4] Venture Capital (M. Korver) (2009/Term 3&4 (Spring&Summer))

The objective of this course is to provide an overview of entrepreneurial finance from the differing perspectives of institutional investors, venture capitalists, and entrepreneurs. By “entrepreneurial finance” (or venture capital), we mean the provision of growth capital in the form of an investment in the equity (stock) of privately-held companies at various stages of development. The term “entrepreneurial finance” is used in the course title to distinguish this course from “corporate finance.” Corporate finance is commonly taught with reference to the markets for publicly traded securities. The major difference between corporate finance and entrepreneurial finance is that the former deals with markets that are more efficient than the private equity market. Accordingly, our analysis must reflect the fundamental inefficiencies of the private equity market and will raise many issues that are not considered in standard courses on corporate finance.

Venture capital is a major source of growth capital for new ventures. Since its origins in the U.S. after World War II, the size of the venture capital market has grown substantially on a global scale and become increasingly institutionalized. For example, at its peak annual venture capital investments exceeded $141 billion worldwide in 2000. However, this amount is still quite small in comparison to the market for publicly traded stocks. Furthermore, the bursting of the stock market “bubble” has had a significant impact on the venture capital market. In Japan, the venture capital market is still small and immature relative to the U.S. but is viewed as a positive force for the transformation of the economy by providing necessary capital to new ventures and re-vitalizing established firms.
Course Structure

The course covers the “venture capital cycle” which comprises (1) fundraising and structuring of the venture capital fund; (2) investment origination, due diligence, and valuation; (3) negotiating investment terms and making the investment decision; (4) strategies for post-investment value creation and investment management; and (5) investment exit strategies. The course is divided into two modules. The first module focuses on investment in venture companies. The second module focuses on venture capital funds. Topics expected to be covered include the following:

(1) Ventures and entrepreneurs
• Due diligence
• Valuation
• Understanding the term sheet
• Negotiating the investment
• Entrepreneur compensation
(2) Venture capital funds
• Institutional investors
• Fund portfolio management
• Fundraising and structure
• Exit
• Managing the VC firm
Teaching Method

This course will be taught using a mixture of lectures and class discussion of assigned cases. Students are required to come to classes for which a case has been assigned thoroughly prepared by reading the cases and studying the attached exhibits. This will enable them to take part in the class discussion and better understand and respond to the comments made by other students in the class. In addition, students are required to read the assigned readings which will expose them to the basic concepts and analytical frameworks required to fully understand the cases.

ICS , Graduate School of International Corporate Strategy

[Term 3] Operations Management II (S. Kobayashi) (2009/Term 3&4 (Spring&Summer))

The Operations Management I course in Term 2 discusses managerial issues among a wide range of industries using the case method. In contrast, Operations Management II in Term 3 will take a more hands-on approach in studying the Japanese manufacturing industry.

The Japanese manufacturing industry has enjoyed a competitive advantage in the world market for years. However, many observers claim that it has lost its competitiveness. On the other hand, good examples of operational excellence still exist in Japan.

This course aims to investigate the essence of the Japanese manufacturing industry’s competitive advantage, and to understand why and how its competitive position is changing. Why are competitors not able to copy the core competence? Will the core competence last forever? Why do some companies lose their competence? The course will emphasize first-hand experience. Students will visit factories and listen to guest speakers from the manufacturing industry.
Teaching Method

This course is oriented toward first-hand experience, with the class taking field trips to observe real-life situations. Background knowledge will be provided in class. Also, reading materials will be provided before the visits to ensure that the first-hand experience is as fruitful as possible. Students will be asked to write short essays after each visit to reflect on the experiences and connect them to issues raised through the lectures and readings.

ICS , Graduate School of International Corporate Strategy

[Term 3 & 4] Entrepreneurial Management (M. Korver) (2009/Term 3&4 (Spring&Summer))

This course covers the process of identifying and assessing entrepreneurial opportunities, then conceptualizing and planning an enterprise tasked to capitalize on such an opportunity. Students will work in teams to pick an attractive entrepreneurial opportunity (viz., a new technology, new business area, or innovation in an existing market) and develop a business plan, working through issues of opportunity identification and analysis, management team-building and organization, competitive strategy, marketing and sales, and identifying and obtaining necessary resources. We will introduce frameworks necessary to identify and analyze entrepreneurial opportunities and the elements of companies that can quickly define and dominate an existing or new category of business through innovative strategies or disruptive technology.
Course Structure

The course is designed to provide students with the opportunity to gain practical knowledge in how to identify entrepreneurial opportunities and, with limited resources, transform them into successful enterprises. This knowledge will be gained by:
(1) Studying cases of both successful and unsuccessful entrepreneurial ventures
(2) Learning about and applying analytical frameworks to issues commonly faced by entrepreneurs
(3) Examining in detail what a business plan is designed to do, what it contains, how it is developed and written, what are its uses, how to analyze and evaluate the business plan, and what investors look for in a business plan
(4) Providing an environment where students can collaborate to create their own winning business plans as members of entrepreneurial management teams
(5) Interacting with business plan contest judges and hands-on faculty who have deep and recent experience starting and building companies
Teaching Method

The course consists of two sections. Term 3 (Spring) will primarily cover the items (1) through (3) in the previous paragraph and will culminate in a mid-term examination. Term 4 (Summer) will primarily cover items (4) and (5) and will culminate in a business plan competition. Accordingly, the first section consists of regularly scheduled sessions with a mixture of case studies, lectures, and class discussion. Term 4 (Summer) consists of out-of-class collaboration by the team members on development of a business plan with periodic feedback from the faculty. In addition, guest lectures may be scheduled from time-to-time. The details of the business plan competition will be announced during the first class.

ICS , Graduate School of International Corporate Strategy

[Term 3] Negotiation (S. Akutsu) (2009/Term 3&4 (Spring&Summer))

The goal of this course is to enable students to be more effective negotiators. In many situations, such as transactions between suppliers and buyers, deals between venture capitalists and entrepreneurs, conflicts between management and unions, and alliances between two firms, different parties typically have different interests, perceptions, and values; thus, negotiation skill is a key factor for success.

The course will provide a brief introduction of game theory, behavioral decision-making theory, and social psychology, which are fundamental to effective negotiation. The course will also emphasize practice so that students will have a chance to test theories and understand them based on hands-on negotiation experience.

Since this is a relatively short, basic course, the focus is limited. The focus is to provide a conceptual framework, which will help students analyze problems, and to provide a general approach, which will help students reach successful outcomes. Thus, while the course will draw on examples from a variety of contexts, each situation may be simplified to clarify the point at the cost of discussion of details. Students are encouraged to apply what they have learned in this course to real, complex situations, such as job hunting, negotiation with venture capitalists, etc.
Course Structure

In the first session, the course overview, some basic concepts and negotiation frameworks will be presented. Thereafter, students will go through different kinds of negotiation exercises, such as developer-tenant negotiation, cross-cultural joint-venture negotiation, and negotiation for corporate change. The last session will synthesize what has been learned to wrap up the course.
Teaching Method

While this course will be primarily exercise oriented, lectures, videos and guest speaker sessions will be effectively combined to teach both theory and practice. On top of participation, each exercise will typically require students to be well prepared before negotiation, and to reflect on and discuss key lessons after negotiation. Lectures by the instructor and insights of guest experts will help students better prepare and reflect on negotiation exercises.

ICS , Graduate School of International Corporate Strategy

[Term 3] Marketing Research & Analysis (S. Oue) (2009/Term 3&4 (Spring&Summer))

The perspective of this course will be that of a practitioner/manager who needs to extract important information for executives making decisions that commit resources to develop new products and/or manage a product portfolio. Emphasis is placed on the multivariate methods, such as factor analysis and structural equation models, which are heavily used in questionnaire survey and positioning analysis.

The goals of the class are as follows:
(1) To cover a variety of multivariate methods extensively used in marketing or management research and consultation.
(2) To provide students with an opportunity to analyze real datasets and give answers to real problems.

Since understanding theoretical development is essential to the proper use of quantitative tools, students are expected to understand the theoretical formulations and derivations as well as the skills of manipulating data.

Because of the nature of the subject, it is assumed that students understand undergraduate calculus and linear algebra, and can manipulate them. Also, familiarity with statistical concepts such as standard error, confidence interval, and hypothesis testing is a must.
Teaching Method

This course is primarily analysis-oriented. The basic course structure consists of lecture/case portions and analysis presentations related to the lecture topics. Class participation is strongly urged.
The software you will be using in this course are Microsoft Excel, and R and Natto (R and Natto are high performance free software). You are certainly free to use other packages for assignments but then you run the risk of not being able to do some problems.

ICS , Graduate School of International Corporate Strategy
[Term 3] Business Architecture (K. Kusunoki) (2009/Term 3&4 (Spring&Summer))

Business Architecture is positioned as an advanced course on strategy with the assumption that students who take this elective course already have some knowledge of Competitive Strategy and Organizational Capability.

Business Architecture is about “system consistency” as a source of sustainable competitive advantage. Both perspectives on strategy (the SP-based view and the OC-based view) assume that the essential source of sustainable advantage lies in the consistency of a “system” of activities (SP) or resources (OC). In the SP-based view, if a company can establish a consistent system of activities, it is difficult for competitors to imitate that system because of the existence of trade-offs. The idea of the system-based sustainability of competitive advantage is more salient in the OC-based view. Fundamental concepts concerning costly-to-imitate capability, such as interconnectedness, social complexity, causal ambiguity, and path dependency, are all related to the idea that what is truly difficult to imitate is not each individual element of capability, but the way in which elements are combined to create a whole system of capability. In a modern competitive environment, a consistent system of activities and capabilities often lies at the heart of sustainable advantage.

For instance, Dell has outperformed its competitors, not because it has excelled in two or three particular elements, but because it has created a unique system (Dell Direct Model) that contains and combines dozens of elements. Thus, the business system as a whole shapes Dell’s competitive advantage. In many other industries and companies, the real competitive dimension has been shifting from element-level to system-level advantage. That is the reason why the “business models” has come into fashion in the business world. Although it is popular and easy to say that achieving consistency across activities, capabilities, and other boundaries is a linchpin of sustained advantage, business architecture and the architectural aspect of competitive advantage are poorly understood, underdeveloped subjects.

Shaping such system consistency needs deep insight and knowledge about the interdependence, interaction, and integration of individual activities and capabilities. This course, Business Architecture, focuses on these three aspects of system consistency (interdependence, interaction, and integration), which result in sustainable advantage.
Course Structure

This course is divided into three parts:
• Architectural perspective of strategy
• Modularity of business models
• Evolution of business models

It is quite difficult to characterize and analyze business models because they shape a complicated pattern, including many activities and capabilities with interdependence and interactions. Based on recent developments in these studies, the third part of this course uses the concept of “modularity,” i.e., the dimension ranging from modular architecture to integral architecture, as a key dimension of analyzing business models. Both modular and integral architecture have strengths and weaknesses, depending on the competitive environment and product/industry characteristics. Using this dimension as a key to understanding system-based advantage, this course will provide students with perspective on the integration of a firm’s strategic parts into a harmonious whole.

As an emerging arena of strategy thinking, this course is not about clearly defined tools and techniques to achieve architectural consistency of strategy. Instead, the primary objective of this course is to give a heuristic perspective and logic to view strategies in a holistic way.
Teaching Method

Business Architecture is primarily case-based. Most cases will be discussed in the traditional manner of case discussion, but some will be used for case-based lectures. There is no textbook for this course, but we will use some articles and book chapters. This course will include a couple of presentation sessions by student groups on assigned topics.

ICS , Graduate School of International Corporate Strategy
[Term 3] Competitiveness of Firms & Clusters (Y. Ishikura) (2009/Term 3&4 (Spring&Summer))

Today, competitiveness is discussed extensively at multiple levels: the level of the firm, city, region, and/or country. There are many competitiveness rankings available, addressing different levels, such as the Global Competitiveness Report by the World Economic Forum. Competitiveness has become an important issue not only for the firm but also the nation/city/region, partly because of the advancement of ICT (Information & Communication Technology) and of globalization.

This course explores the determinants of competitiveness and economic development viewed from a bottom-up, business perspective. While sound macroeconomic policies, stable legal and political systems, and investment in human and physical capital create the potential for competitiveness, wealth is actually created at the business level. The sophistication and productivity of firms, the vitality of clusters, and the quality of the business environment in which competition takes place are the ultimate determinants of a nation’s or region’s productivity. Wealth is created not by governments, but by companies in the private sector.

This course covers both developing and advanced economies, and addresses competitiveness at the level of nations, regions, or cities within nations, clusters, and groups of neighboring countries. A major theme of the course is that competitiveness and economic development are affected by circumstances and policies at all of these levels.

The course is concerned with the role of government, and also with the roles of firms, universities, and other institutions in determining competitiveness. In modern international competition, the roles of these constituencies have shifted and expanded, and the traditional separation between them has worked against successful economic development.

Under these circumstances, business executives today are expected to play a more active role in shaping the business environment, which determines a nation’s, region’s, or city’s productivity. They are expected to have global and inter-disciplinary perspectives. They can no longer be concerned only with the domestic market or their industry. As world trade continues to increase, an open system for innovation is becoming more prevalent, and financial trouble originating in one market can affect the world very quickly.

Business executives can no longer focus only on the bottom line, as “companies can help create a better society while improving their bottom line, by focusing on contributions aligned with their core competencies and corporate missions…” (quoted from the WEF 2008 summary, Corporate Global Citizenship in the 21st Century”). As was pointed out at the WEF annual meeting in 2008, the collaboration of businesses, governments, and NGOs is perceived to be critical in resolving global issues, such as energy and the environment in today’s globalized world.

This course attempts to address these emerging issues facing future leaders, whether they are in companies, governments, other institutions, or civil society organizations. As such, this course is different from most MBA courses in the following respects. First, it is not purely a management course, but a course focused on economic development and prosperity. While it explores implications for companies and the new, expanded role of business executives, the course discusses the roles of other important constituencies, such as government and social entrepreneurial organizations.

The ability to mount and sustain a competitiveness improvement strategy for a nation or region is a daunting challenge. Thus, the course will explore not only theory and policy, but also the nature of the organizational structure, institutions, and processes required for sustained improvements in competitiveness.

Some of the questions which have emerged from past attempts to deal with the issue of competitiveness, economic development, and prosperity include the following:
• How can the economy move from one that is resource-based (such as those dependent on oil and other natural resources) to one that is investment-based and diversified?
• How can we create an innovative economy?
• How do we make these changes happen, as the process of improving competitiveness involves many diverse organizations with different agendas, mentalities, and thought processes?

The course was originally created by Professor Michael E. Porter at the Harvard Business School. It is offered not only in the Harvard University community, but also simultaneously by professors at other universities around the world.
Course Structure

The course consists of Three Modules. Module I discusses Firms, Industries, and Locations. Module II covers the Microeconomic Business Environment, which is the main topic of the course. Module III refers to the Economic Strategy for Nations, States and Regions. Advanced topics will be covered as well.

The course will build on topics such as “firms and industry competition” (covered in the Competitive Strategy course in Term 1) and problem definition and implementation (covered in the Problem Solving course in Term 2). The course will also touch upon issues such as the Mission, Vision, and Value of individual leaders, which will be covered during the Knowledge Week offered in June.
Teaching Method

The course will be taught using the case method, together with readings, lectures (both real and virtual), and guests (both real and virtual).

As it is a joint course with HBS and other institutions throughout the world, content is shared via the Internet.

We will show some videos of Michael Porter’s lectures and of the guests at the Harvard Business School. In addition, we plan to have some guests just for ICS.

ICS , Graduate School of International Corporate Strategy, Course ,MBA , Hitotsubashi University,

[Term 3] Execution Management　(H. Kanno) (2009/Term 3&4 (Spring&Summer))

To deliver results, senior management needs to accomplish two things: (1) develop an effective strategy, and (2) execute the strategy effectively. The instructor, who worked as a management consultant for 17 years, has observed “execution failures” many times in a wide range of companies and industries —however right the strategy is, sometimes you fail to deliver the expected result because you fail to execute the strategy. Or, if the strategy is such that you cannot execute it effectively, is the strategy “right” at all? This elective course addresses these “execution challenges” and explores “how to make it happen.”
Course Structure

You will learn “how to make it happen” by walking through the following three modules:

Module 1 helps you understand why execution matters —why companies perform very differently even with more or less similar strategies.
Module 2 explains why senior management needs to intentionally and explicitly design and implement an “execution system.” In other words, you will learn why excellent execution does not take place naturally. Excellent execution has to be intentionally designed, ignited, and its momentum has to be intentionally maintained.
Module 3 explains the “how” in “how to make it happen.” The instructor will familiarize you with the dos and dont’s of effective execution by introducing a range of approaches and examples.
Teaching Method

The teaching approach consists of case discussions, lectures, guest speakers, and exercises. For case discussions, you will be expected to prepare for assigned cases, along with discussion questions, and participate actively in class.

ICS , Graduate School of International Corporate Strategy

[Term 3] Business Research (C. Ahmadjian) (2009/Term 3&4 (Spring&Summer))

This course is a how-to course in conducting and evaluating business research. Many of you will be required to do research in your post-MBA careers—in consulting, marketing, equity analysis, competitor analysis, etc. All of you are likely to be consumers of business research. Whatever you do after business school, you will probably be reading Nikkei Business, the Harvard Business Review, or The Economist. At the very least, you will be consumers of business research prepared by management consultants or securities analysts. Hence, the objective of this course is not only to prepare you to do research but also to prepare you to be wise, and critical, consumers of business research.

One special focus of this class will be on logical and critical thinking. If you think that you need more practice in becoming a more logical and critical thinker, this course will help you. One warning: This course may ruin your life! Students in previous years have said that after taking research methodology, they have trouble believing anything that they read, because we learn how to evaluate claims made by consultants, journalists, and politicians.
Course Structure

The course begins with several sessions on general issues in research design: inductive and deductive approaches, measurement, and sampling. We will then cover four main research methods: surveys, experiments, research using available data, and field or case study research. We will also consider research ethics.

In the course, we will evaluate research produced by consultants, business school professors, equity analysts, and journalists. My main focus, however, will be to give you a very firm grounding in the basic principles of research. We will examine issues such as how to choose a sample that is appropriate and will give accurate and generalizable results, how to design a survey that is not biased, and how to define a research question that makes the research process efficient and focused.

There will be two textbooks. The first is How to Lie with Statistics by Darrell Huff. Of course, I am not teaching you how to lie with statistics, but this book points out some commonly used tricks, and teaches us some fundamentals of research methodology. You should buy this if possible - it is a short paperback. The other text is Approaches to Social Research by Royce A. Singleton, Jr. and Bruce C. Straits. This book is hard core, and is used in many PhD courses in research methodology. I have assigned two chapters from this book. You don’t need to buy it - it will be on reserve in the library.

Research is much easier to read and criticize than to do. Therefore, there will be three written assignments in which you have an opportunity to do research and provide constructive criticism of others’ work. First is a short, half-page paper listing three research questions. This will be very easy. The second is a longer paper (8-10 pages), in which you will be asked to come up with a research question, and two different research designs to answer that question (you may choose between survey, experiment, available data, and field/case study). You don’t have to do the research, just come up with the design. This will be more difficult than you expect, but you will be glad that you did it. The third assignment will be to critique an (anonymous) classmate’s research design. This will be 3-5 pages. The biggest challenge will be to be helpful and constructive. There will be no final exam. All the assignments are to be done individually.
Teaching Method

The class format will be lectures and discussions.