NEW YORK INSTITUTE OF TECHNOLOGY
SCHOOL OF MANAGEMENT
DR. STEPHEN W. HARTMAN
DR. PAUL KUTASOVIC
DR. ABRAM POCZTER
PREREQUISITES ARE COMPLETION OF 30 CREDITS, INCLUDING ALL CORE COURSES, AND GPA OF 3.00 OR BETTER.
OFFICE TEL.: (516) 686-7424 O.W.
(516) 348-3281 C.I.
(212) 261-1597 METRO
An integrative course designed to satisfy the capstone requirements for graduation in lieu of thesis or oral examination. Alternatively, this seminar may be taken by students who wish to be guided in the preparation for the comprehensive oral examination. The subject matter of each of the core courses will be reviewed and special attention will be paid to the conceptual foundation of each of the core courses. Emphasis will be placed on the integration of the main concepts. A Management Simulation Game will be utilized as an integrative instrument as well as a means for sharpening the executive decision-making skills of participants via a simulated business setting. Prerequisites are completion of 30 credits, including all Core courses, and GPA of 3.00 or better.
Consistent with the general philosophy of the course, several learning objectives are incorporated into the course. First, a major learning objective is to help students organize the knowledge obtained in the MBA program. Each of the eight MBA fields of study are intensively reviewed. These include: organizational behavior, the environment of business, financial management, quantitative methods, managerial economics, marketing, operations management, and managerial accounting. Secondly, by using an interactive management simulation exercise, students are encouraged to develop competitive management strategies closely emulating the actual business environment. This is intended to foster intensive student understanding of managing a developing business.
Finally, another major objective is to help the students prepare for the comprehensive oral examination for the MBA program.
There are two significant classroom activities in this course. First, an intensive review on each of the major functional areas will be conducted as the main class activity. Students are encouraged to ask questions and participate. Review study guides will be distributed to the each student. These materials will provide the basis for class discussion and quizzes.
Secondy, a 15 minute quiz will be given in every class session. Each quiz will cover one of the eight functional areas. Makeup quizzes will also be given for those students not passing the first or second quiz in a respective subject area.
Because of the nature of this course, active student participation is required for the business policy game and it is necessary to pass a daily quiz in one of the eight functional areas covered in the course. Perfect attendance is required. Students who miss more than one class session must withdraw from the course.
CLASS EXAMS - 100%
This is a pass/fail course. Each class will have A QUIZ on the scheduled functional area. Passing performance requires 9 correct items out of 12 for each respective quiz. Students must pass each and every functional area to pass the course. Three attempts are allowed to pass each quiz. if the student does not pass one of the quizzes, it will result in a failure for the course.
STRONGLY SUGGESTED REFERENCE BOOK
Shim, Siegel, Simon, The Vest-Pocket MBA, SECOND EDITION (Englewood Cliffs, NJ: Prentice Hall, 1997). ISBN 0-13-460304-4.
The students will be given a comprehensive functional area study guide in the class.
WEEKLY READING ASSIGNMENT
#1 Dr. Hartman. Introduction to the course.
Functional Area - Organizational Behavior Key Concepts: Organizational Theorists, Behaviorists, Communication, Equity Theory, Fixed and Variable Ratio Reinforcement, Bureaucracy, O.B. Mod, Iowa, Ohio, and Michigan Leadership Studies, Group Behavior, and Power. Dr. Deming.
#2 Dr. Hartman. Quiz.
Functional Area - Environment of Business.
Key Concepts:, Anti-Trust theory, "rule of reason" and "per se," Affirmative Action, Federal Reserve Board, Public Policy, Social Responsibility, Ethical Theory, Invisible Hand, Causes of the Depression, New Deal, Power Elite, Independent Regulatory Agencies, Political Action Committees, Lobbying Groups.
#3 Dr. Kutasovic. Quizzes on Organizational Behavior and Financial Management.
Functional Area - Financial Management.
Key Concepts: Time Value of Money
Present value, Future value, Annuities: In Advance, In Arrears, Deferred, Perpetuity.
Leverages & Break-Even
Operating Leverage, Financial Leverage, Break-even points, Degree of Leverage.
Financial Instruments, Yields on: Bonds, Preferred Stock, Common Stock and Retained Earnings, Weighted Average, Cost of Capital.
Procedure, NPV & IRR, Cash Flow Income, the Incremental (CF) Principle.
Current Events and Historical Perspective
Examine the last 15 years in terms of:
Interest Rates, Exchange Rates, Trade Balances, GDP, International Indebtedness
#4 Dr. Kutasovic. Quiz.
Functional Area - Quantitative Methods.
Key Concepts: Bayesian Decision Theory
Value of Perfect Information, Revised (Posterior) Probability, Expected Value of Imperfect (Sample) Information
Management of Inventories
Ordering Cost, Carrying Cost, Stockout Cost, EOQ, Instant & Uniform Replenishment; Planned Shortages, d. Uncertainty and Buffer (Safety) Stock
Regression, Time Series & Forecasting
Simple & multiple Regression, Correlation, Confidence Intervals & Testing Hypothesis, Components of a Time Series
Maximization & Minimization Problems, Duality & Shadow Prices.
#5 Dr. Poczter. Quiz.
Functional Area - Marketing.
Key Concepts: Marketing Concept of Business, Marketing Strategy, Segmentation, Product Life Cycle - Integration of the Elements of Marketing/Organizational/Financial Strategies, Product Mix and Portfolio Models, Promotional Mix, Pricing Policy, Distribution Mix, Marketing Research
#6 Dr. Hartman. Quiz.
Functional Area - Operations Management.
Key Concepts: PODSCORB, Basic Machine Concepts, Manufacturing Concepts/Management Control Methods, Gantt, PERT, CPM, CAD, CAM, CIM, Inventory Methods, Product Liability, Quality Control Systems, Total Quality Control, Risk Management.
#7 Dr. Kutasovic. Quiz.
Functional Area - Managerial Economics.
Key Concepts: Optimization, Demand Theory, Revenue and Elasticity, Production Theory, Cost Theory, Market Structure: Monopoly and Competition, Monopolistic Competition and Oligopoly, Pricing Decisions.
#8 Dr. Kutasovic. Quiz.
Functional Area - Managerial Accounting.
Key Concepts: Management Control, Cost-Volume-Profit Analysis, Responsibility Accounting and Information Systems, Decentralization, Measurement of Performance Transfer Prices, Operational and Financial Budgets, Job Order Costing, Joint and Byproduct Costs, Process Cost System, Standard Costs and Variance Analysis, Cost Allocation and Pricing.
Dictionary of Business Terms, 2nd Edition (New York: Barron's Educational Series, Inc., 1994).
Dictionary of Personal Finance(New York: Macmillan Publishers, Inc., 1992).
The McGraw-Hill Pocket Guide to Business Finance: 201 Decision-Making Tools for Managers(New York: McGraw-Hill, 1992). Go to Top of Form Contact Dr. Stephen Hartman Return to Table of Contents