Resource Guilde Class 38_rev.indd - The Wharton School of the ...

9Core Courses ContinuedOPIM 621Decision Models and UncertaintyDescription: The applicability and use of managementscience models have increased dramatically in recent yearsdue to the extraordinary improvements in computer,information, and communication technologies. Personalcomputers and friendly interfaces have become effective“delivery vehicles” for powerful decision models that wereonce the exclusive province of experts. This core course inmanagement science has a twofold purpose. First, it seeksto introduce simple models and ideas that provide powerful(and oftentimes surprising) qualitative insights about alarge spectrum of managerial problems. Its main topicsinclude linear and integer programming, decision makingunder uncertainty, and simulation. Second, it aims to givea feeling for the kinds of problems that can be tackledquantitatively, the methods and software available for doingso and the difficulties involved in gathering the relevantdata. The emphasis is on models that are used in diverseindustries and functional area, including finance, operations,accounting and marketing. (Fall 2012.)OPIM 631Operations Management: Quality andProductivityDescription: This course emphasizes processes. Aprocess is a set of interrelated work activities characterizedby specific inputs and value-adding tasks that producespecific outputs. In the first part of the course we seeexamples of a number of processes and learn how todescribe a process with a flow diagram. We will also learnto measure key process parameters like capacity and leadtime, and to improve a process through approaches likefinding and removing bottlenecks or better division ofthe work among the people involved. The second partof the course focuses on process improvement and willexamine some classic ideas in quality management as wellas recent ideas about restructuring processes for increasedperformance. (Spring 2013.)STAT 621Statistical Analysis for ManagementDescription: This course explores the use of the keystatistical methodology known as regression analysis insolving business problems. Regression analysis permeatesmost of applied statistics. This course considers theapplication of regression in various contexts, such as theprediction of future sales and the response of the marketto price changes. The use of regression diagnostics andvarious graphical displays supplements the basic numericalsummaries and provides insight into the validity ofthe models. Specific important topics covered includeleast squares estimation, residuals and outliers, tests andconfidence intervals, collinearity, and randomization. Thepresentation relies upon computer software for most ofthe needed calculations, and the resulting style focuses onconstruction of models, interpretation of results, and criticalevaluation of assumptions. (Fall 2012.)WHCP 614Management Communication(cannot be waived)Description: WHCP 614 is designed to preparebusiness leaders for the communication challenges of theworkplace. It enables students to develop and demonstrateeffective, business-oriented, verbal communication skillsand to improve oral presentation skills, regardless ofcurrent skill level. Topics to be covered are: organizationand delivery of speeches, persuasion, impromptu andprepared speeches, use of effective visual support, anddealing effectively with the media. Each student will learnsuccessful communication strategies, and gain confidenceusing these strategies. Students will receive instructor andpeer feedback in the classroom, as well as one-on-onefeedback and coaching. (Spring 2013.)OPIM 632Operations Management: Supply ChainManagementDescription: Matching supply with demand is a primarychallenge for a firm: excess supply is too costly, inadequatesupply irritates customers. Matching supply to demandis easiest when a firm has a flexible supply process, butflexibility is generally expensive. In this course we will learn(1) how to assess the appropriate level of supply flexibility fora given industry and (2) explore strategies for economicallyincreasing a firm’s supply flexibility. While tactical modelsand decisions are part of this course, the emphasis is onthe qualitative insights needed by general managers ormanagement consultants. We demonstrate that companiescan use (and have used) the principles from this course tosignificantly enhance competitiveness. (Spring 2013.)