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Westmont EB 192 - Syllabus

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COURSE SYLLABUS EB 192 – Change and Innovation Spring Semester 2008 – DH100 – Wednesday 3:15-6:15PM Dr. David Newton Professor of Entrepreneurial Finance Chairman, Dept of Econ + Business PHONE: 565.6193 / FAX: 565.7284 [email protected] Office - Deane Hall Room 110 COURSE DESCRIPTION: This course examines the primary economic components and freedoms that define the American private enterprise system, and the impacts (both negative and positive) that the emergence of change and innovation have on the stability and viability of the private sector. The focus is on the industry-level at which emerging innovations come forth from individuals/firms, and the change(s) they effect on all industry stakeholders (both favorable and detrimental). And within the broader mission of Westmont as a Christian liberal arts college, the course also seeks to specifically integrate various aspects of the college’s six campus-wide learning standards, and encourages students to reflect on how these relate to one another and the learning endeavor of this course. As such, change and innovation will be discussed in light of a clear Christian orientation as it relates to critical thinking from an interdisciplinary perspective. The seminar will also address issues of diversity (locally and worldwide) as they relate to change and innovation threats and opportunities. Course discussion will also specifically develop an active societal and intellectual engagement among students of crucial industry issues about change and innovation in the contemporary private and public sectors. Finally, the independent industry research and reporting will help students further develop strong written and oral communication skills, and a clear understanding of the role of technology in this learning processes, and how to utilize it thoughtfully and ethically. The following topics are covered: - the basis and tenets of American freedoms - the components of the private enterprise system - sources and types of macroeconomic and business change - the role of process innovation and re-engineering in the private sector - the dominant role of high technology (HT) in shaping product developments - the emerging redefinition of human/intellectual capital - the broadening of the scope of information technology (IT) into all areas of enterprise - the principles and function of strategic management, and - the ethics and issues of successful change management. REQUIRED READINGS: - Clayton Christiansen. Seeing What’s Next: Using Theories of Innovation to Predict Industry Change. - Harvard Business Review on Innovation. PDF Download available online. - Kelley Thomas. Ten Faces of Innovation. - Robert Austin. The Broadband Explosion.RECOMMENDED READINGS (for short papers and industry projects): - Christiansen, Clayton. The Innovator's Dilemma: The Revolutionary National Bestseller That Changed The Way We Do Business. Harvard B-School Press. - Tushman and Anderson. Managing Strategic Innovation and Change. - Davenport, Tom, 1995. Process Innovation. Boston: Harvard Business School Press. - Diebold, John, 1990. The Innovators. New York: Turman Talley Books. - Keen, P., 1991. Shaping the Future: Business Design Through Information Technology, Boston: Harvard Business School Press. - McKenney, J.; Copeland, D. and R. Mason, 1995. Waves of Change: Business Evolution Through Information Technology, Boston: Harvard Business School Press. - Brooking, Annie, 1996. Intellectual Capital, London: International Thomson Press. - Guilder, George, 2000. Telecosm: How Infinite Bandwidth Will Revolutionize Our World, New York: The Free Press. - Kelly, Kevin, 1998. New Rules for the New Economy. New York: Penguin Putnam Inc. - Machiavelli, Niccolo, 1513. The Prince. (Translated by George Bull) NY: Penguin Classics. - Rifkin, Jeremy, 2000. The Age of Access COURSE STRATEGY: The goal is to expose students to a full range of issues and problems related to contemporary and historic American private enterprise, and the roles that emerging change and innovation play in impacting this in the contemporary external environment. Class will be used to introduce and explain new material, and engage students in a high level of interactive dialogue about the contemporary issues related to the material. Students will have numerous opportunities to put their new knowledge into practice, including: COURSE REQUIREMENTS: Attendance: Students are expected to attend all class sessions, and are strongly advised not to miss class unless it is due to extenuating circumstances. The course meets once a week in a seminar format, so only one unexcused absence is permitted without having any effect on the student's course grade. Reading Summaries: These deal with basic concepts taken from the reading assignments. As a seminar class, it is absolutely imperative that students stay on track with the reading schedule posted in the course outline. At times, an unannounced quiz will be given on material already outlined in a readings summary. There are no make-up quizzes or make-up summaries to replace those that missed a due-date. Industry Analysis: Student teams will complete a comprehensive industry analysis from any of the industries that comprise the "Technology" sector, or a sector that widely utilizes high technology products and processes. Past choices have included: a) Internet/web hardware/software, b) global positioning systems, c) satellite/wireless telecommunications, d) alternative fuels, energy, e) transportation including auto, rail, trucking, f) general computing software-hardware advances, g) nanotechnology, and h) airlines, and i) various forms of biotechnology engineering. The report will detail the historic strengths and weaknesses of the industry, recent or emerging changes and innovation closely associated with its market, key firms ("players"), a valuation within the Tech sector, and a frank assessment of the near-term, intermediate-term, and long-term viability in light of such change. Students can put into practice their working knowledge, skills, and interpretation developed through the readings and class discussions. The analysis comes together in formal stages at specific benchmarks during the course of the semester. A typical analysis is 20-30 pages, spiral bound hard-copy in its final format. The Industry Analysis process concludes with each of the student teams making a formal

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