of Department Applied Economics and Management CORNELL UNIVERSITY AEM 1200 INTRODUCTION TO BUSINESS MANAGEMENT Pedro David Prez Spring 2012
People
Activities
Prof. Perez lectures Guest lectures
Jennifer DeRosa, CALS Career Development, 1/27; Prof. Jack Little, Dyson School, 2/24 (tentative); Jaron Porciello, Mann Library, 4/9 (tentative); Barbara Novick, BlackRock, 4/23; Prof. Dale Grossman, Dyson School, 4/27 (tentative); Prof. Brian Earle (emeritus), Dyson School, 4/30 (tentative).
TA office hours Exams WSJ Article Reviews Optional Project
Evaluation
1st Prelim T 2/28 50 pts 2nd Prelim T 4/3 50 pts Eleven WSJ article reviews 100 pts Final exam: Monday May 14th, morning; 100 pts Optional Group Project; 100 pts
Groups of three Deadline for commitment: Friday April 13th Deadline for delivery: Monday May 7th, before noon CALS Career Services Office; 4 pts Possible participation in research projects; 2 pts Participation and attendance viewpoints; 1pt each
Extra Credit Max. 15 pts
Grading Options
1. Prelims, WSJ reviews, and final 2. Prelims, WSJ reviews and optional project 3. Prelims, WSJ reviews, and final + optional project
1.
NOTE: Drops lowest grade.
Wall Street Journal Article Review Assignments
In AEM1200 Spring 2012, students are expected to turn in, hardcopy and in class, at least eight "Wall Street Journal" article reviews, according to the schedule presented in the course calendar. Each review is worth ten points, for a total of 100 points (over 300 points for the total evaluation of the course). There are eleven opportunities to turn in a review, and the best two grades will be doubled. So, a student may drop up to three reviews. All students are expected to turn in at least eight reviews, and to earn a cumulative passing grade of at least 70 points in all the reviews they turn in. Otherwise, the cumulative grade on article reviews is not eligible for dropping if a student selects to both present the final exam and to turn in a final project. Each review should be 450 - 600 words long. In addition, the review should start with the name and Cornell email address of the student, and with an accurate citation of the WJS article under review. The whole assignment should fit in one printed page. No articles from before January 23, 2012 are eligible for review. No articles from other sources are eligible for review. If a student has already missed three reviews and must miss a fourth or more reviews, the student must prove that s/he could not turn in the previous reviews due to extenuating circumstances. These include medical and legal emergencies, or extended absences due to job / internship searches or representation of Cornell University (mostly sports).
Rubric for WSJ Articles reviews
Article review turned in on time; Name and Cornell email address of student printed at the top of the page; The article being reviewed is cited appropriately at the top of the page, after the student's name and Cornell email address; Article review conforms to length standards. The article being reviewed is topical and appropriate for the requirements of the assignment. 3 points (grader has the right to go no further in correcting the paper if, in the grader's judgment, the paper does not comply with these requirements).
0 1 1 2 points (grader has the right to go no further in correcting the paper if, in the grader's judgment, the paper does not comply at least partially with this requirement). 0 1 points
Writing quality (appropriately spellchecked and proofed, ease of reading, complete sentences and appropriate punctuation). Substance of review Review must identify the story and arguments being presented in the article, and relate them to the specific topic of the assignment. Implications of the article's story and arguments Why are the article's story and arguments important? To whom? Why is this article worthy of review? Originality This is a catchall category that includes demonstrated care in selecting article, ability to quote from multiple sources, ability to connect integrate and with the general business environment and situations, etc.
0 1 1 2 points
0 1 1 2 points
0 1 points
Calendar of WSJ Article Review Assignments
WSJ First Article Review: Business Environment Due W 2/1 WSJ Second Article Review: Entrepreneurship and Small Business Due W 2/8 WSJ Third Article Review: the Firm's Financial Performance Due W 2/15 WSJ Fourth Article Review: Financial Instruments and Markets Due W 2/22 WSJ Fifth Article Review: the US and global economy Due W 3/7 WSJ Sixth Article Review: Branding Due W 3/14 WSJ Seventh Article Review: Marketing in the Business Firm Due W 3/28 WSJ Eighth Article Review: Leadership in Business Management Due W 4/11 WSJ Ninth Article Review: People and HRM Due W 4/18 WSJ Tenth Article Review: Operations Management Due W 4/25 WSJ Eleventh Article Review due: Ethics and/or Business Law Due W 5/2
Why Study Business Management?
"Modern bureaucracy depends on a particular social structure: a citizen must not be able to survive on his or her own, but has to work for someone else." (Charles
Perrow, "Complex Organizations", NY:Random House, 1986, p. 49)
85% of U.S. working people work for someone else; Principles of bureaucratic organization
Specialization Formalization Hierarchy
AEM1200 strives to empower students by exposing and explaining a wide range of business management concepts, skills and activities.
Objective of the course
Business Management, as of Now, has a "Bad Name"
CORPORATION (n) - An ingenious device for obtaining individual profit without individual responsibility.
Ambrose Bierce, 1911
Greed and Fear Irresponsibility and Deceit
When you do not remember principles: The Management Cycle Planning
Starbucks Citigroup General Motors Citigroup
Organizing
Leading
Controlling
Taking risks, or passing risks?
Why do McDonalds and WalMart prosper?
"It is better to sell painkillers than to sell vitamins."
Brad Treat, JGSM '02, SightSpeed, Mezmeriz
Focus on providing real perceived value to final customers
McDonalds from "being the world's best quick-service restaurant" to "our customers' favorite place and way to eat;"
Tight relationship with customers
"Everyday interactions"
Behaving Professionally
Create and manage your own filing system
Making a good first impression Focusing on good grooming Being on time Practicing considerate behavior Practicing good "netiquette" Practicing good cell phone manners Being prepared
Computer based Hardcopies Personal documents: Building your resume and C.V.
Read and otherwise collect information
Business press: WSJ, Business Week, Financial Times, NYT, your own local newspaper; Business programming: MSNBC, Nightly Business Report (PBS) Internet!!! Attend lectures and seminars in your university and community.
Network, network, network
Time Management
Know what you have to do
Keep a "to do" list Prepare a daily schedule Prepare weekly and monthly schedules Space out your work Defend you study time Never let a day pass without some achievement Write weekly goals for yourself Prepare for the next day the night before Take time for fun
Patiently accumulate successes
Motivate yourself
The skills that make a person employable are not so much the ones needed on the job as the ones needed to get the job, skills like the ability to find a job opening, complete an application, prepare the resume, and survive and interview.
Occupational Outlook Quarterly U.S. Department of Labor
Take-Aways
Business knowledge is a critical professional tool;
Understanding/avoiding wage slavery; Understanding and applying fundamental principles; Taking rational and responsible risks; Valuing the "service orientation."
Business knowledge can be divided into:
Knowledge of business concepts and activities; Knowledge of business culture, appropriate behavior and appropriate personal management skills; Knowledge of job searching, job getting and job keeping techniques.