Detailed Course Outlines of Term-VI (2020-21)

1. Communication Management in the Digital Age (BC-204)

1. Title: Communication Management in the Digital Age
2. Course Coordinator and Instructor: Shantanu Dey (BEC Group)
3. Duration: 20 sessions; Term VI.
4. Credit: 3
5. Coverage: This course will provide an overview of the challenges and changes facing the Mass Media and
Communication industries in both managerial and creative terms. The purview of the proposed course is not
only digital media or the implications of digitization on the media; rather, the course will attempt to build the
building blocks of Communication Management, its contemporary form and structure, and the challenges and
opportunities arising from the transformative and paradigmatic changes due to digitalization and digital media.
In addition, the course will touch upon insights from research and contemporary practice regarding the
implications of the new digital media technologies for some other industries from the managerial point of view.

The approach of the course will be to provide an interdisciplinary flavor that will enable students to
understand both the business as well as social-cultural dimensions of digital media in the context of
communication management.

Given its interdisciplinary approach, the course will try to go beyond functional silos, and offer a holistic, cross-
functional perspective; thus, it will attempt to present managerial issues from the larger perspective of society, economy
and culture. Specifically, the course will consider the policy challenges that the new digital technologies are posing for
Communication Management and the huge opportunities that they are providing that every manager in today’s Media-
Communication domain needs to understand while negotiating the rapidly changing business environment.

The course will seek to provide both an overview of larger issues of contemporary relevance as well as
dwell on specific issues of managerial and business practice in this domain. The objective will be to not only
introduce the enthusiast to the opportunities existing in the Mass Media/Digital Media and
Communication industries, but also, try to create awareness of the implications and impact of Digital Media on
wider realm of management and business practice amongst those who may not necessarily wish to work in
these industries.

6. Learning Objectives: The Learning Objectives of the course are:

➢ Develop Conceptual Understanding of Communication Management – viz. the business models of the
Mass Media and Communications industry, applicable to both traditional and new media industries
➢ Develop a holistic understanding of the Social, Cultural & Political context of Communication
Management: the implications of the Digital Media for the wider society and polity; issues of social
behavior, individual cognition, and democratic practice
➢ Develop a basic understanding of the Public Policy context of Communication Management: the
emerging challenges for Public Policy due to opportunities thrown up by Digital Media
➢ Develop an Understanding of the Social, Cultural and Business aspects of Digital Technology in the
context of Communication Management: the huge opportunities in both business and social terms
offered by the new digital technologies
➢ Developing an Appreciation of the Creative and Aesthetic dimensions of Communication
Management: the changing norms and aesthetic values affecting creative thought and practice in the
Media and Cultural Industries; and their implications for business and management
➢ Develop an understanding of the principal Managerial issues arising in the Media-Communication
domain: the implications and opportunities of Digital Media and Communication Management for
various industries
➢ Develop an awareness of International developments in Communication Management: both in
conceptual terms and by way of practice in the digital era.

7. Content: The proposed course will introduce the conceptual principles of Communication Management in the
context of traditional Mass Media industries – Print Media, Radio, Television and Cinema. Thereafter, the ways

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 in which digital media technologies have challenged and changed the managerial/business models of
contemporary media will be presented and discussed.

The impact of the Digital Technologies will be analyzed after locating them within the social and cultural
context of contemporary media, which have been affected in terms of both social-collective as well as
individual-cognitive behavior. These changes – social, political, economic and cultural – have been caused by
the institutional framework, policy responses and the social, cultural and business evolution of the Internet and
Digital Media. For instance, the phenomenon of social media will be discussed both from a social-cultural as
well as business point of view; in particular, the intersections between the realms will be focused upon in some
of the sessions.

It will be suggested that the contemporary media is breaking out of the narrow confines of traditional media
because of developments such as these ones, often recognized as ‘convergence’ of media, which has a powerful
and widespread impact on both business and society.

The various sessions of the course will be structured around the following themes of Communication
Management which will be explored in the context of the new digital technologies and social media practices:

i. Principles of Communication Management

ii. Creative Management in the Communications-Media Industry
iii. Production/Project Management in the Communications-Media Industry
iv. Managing Digital Media Technologies
v. Convergence: Implications for the Communications-Media Industry
vi. Digital Media: Implications for Other Businesses
vii. Internet, Society and Culture
viii. Legal & Policy Issues

Session Details:

1. Introduction to Communication Management (Session #1): The introductory session will provide an
overview of ‘general management’ principles and concepts as applied to the Communication-Media
domain. Specifically, some of the principles and frameworks of general management and strategic
management will be mentioned that may be useful in understanding and negotiating the tremendous
changes occurring in this industry. The introductory session will provide the context the technological,
social, cultural and business within which the course will be delivered. It will be mentioned that one of the
distinguishing features of the Communication-Media business is that it crucially depends on public policy
that in turn is determined by various social, cultural and political factors.

2. Industry Overview and Contemporary Challenges (Session #2): An industry overview will be provided
here in terms of specific and concrete facts and data to help develop an understanding of the business
issues. The classical or received notions of general management that have till now held true in the Mass
Media are now being put to test by the advent of the new digital technologies; technological phenomena
like ‘convergence’ are impacting concepts of management and compelling innovation in designing
organizations and operational practices besides strategies of marketing and financing. The session will try
to provide an appreciation of the Media-Communication domain as a cultural-creative one that is
proscribed by technology and the imperatives of big business.

3. Business Models in the Media-Communication Industry (Session #3-#4): These sessions will present
the fundamentals of the media business in terms of some key concepts, business models, practices and
functions –e.g. advertising-based business models compared to subscription-based business models.
Specifically, the contemporary issue of how media and communication businesses are being transformed
due to technological change and institutional change will be discussed at the generic level in this session.

4. Challenges of Digitalization (Session #5): This session will consider some specific concepts with
reference to concrete issues currently affecting the Communication-Media industry - e.g. how is the
popularity of social media to be monetized? How are organizations dealing with the prospect of
fundamental changes? How are the threats to ‘profitability’ being handled by businesses? Has the process
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 of ‘corporatization’ in some media businesses been successful? The session will discuss whether and to
what extent such specific business issues require a review? The discussion will also consider whether the
principles of Communication Management need to be reworked in facing the emerging challenges.

5. Management of Creativity in the Mass Media (Session #6): Media professionals have to manage a
creative process with business objectives in mind. The program will discuss the issue of management of
creativity involving processes and people. Key challenges like how to achieve creativity as well as scale in
such a context will be discussed given the historically unstructured nature of some of the media businesses.
The real experience of media companies in industries like Satellite Television in the phases of exponential
growth and change will be discussed. The meaning and significance of concepts like ‘innovation’ in the
context of Mass Media will be touched upon to understand the real world developments. Also, the ways in
which ‘creativity’ is achieved in terms of managing ‘talent’ will be discussed since it can provide some
interesting and valuable insights that may be useful to compare with creativity in other managerial
contexts. Overall, the session will attempt to create an appreciation that ‘creativity’ in the Mass Media is
especially challenging since it requires managing ‘talent’ as well as ‘technology’ in a business context.

6. Production/Project Management in the Communication-Media Business (Session #7): This session

will deal with the essentials of project management applied to the Communication-Mass Media domain.
The challenge of how to achieve project management deliverables with creative-artistic quality output will
be discussed in the context of the media business. The phenomena of ‘corporatization’ in certain sectors –
e.g. the film industry and television industry – will be discussed in this context. Specific challenges like
how to reconcile the needs of building innovative organizations with scalability in the context of this
industry will be discussed – e.g. the experience of the television industry as it saw unprecedented growth in
the last decade. The Communications industry, which intersects with the Media industry in this digital era
marked by ‘Convergence’, has to deal with issues of project management in other ways. Since it has to
provision infrastructure and create platforms, the challenge is to build scale while achieving
competitiveness and profitability.

7. Digital Technology – Implications for Communication Management (Session #8): This session will
discuss a few key concepts that capture the generic and overarching technology issues that have
implications for Communication Management. Specifically, this session will present and discuss the
notions of ‘networks’ and ‘platforms’ challenging the notions of ‘channels’ and medium-specific ‘content’
in crafting business models in the Communication-Media industry. The conceptual discussion will be
grounded in the concrete business context of the media: for instance, critical issues like how to leverage
advertising opportunities arising out of content provision across platforms will be taken up.

8. ‘Convergence’ in the Communication-Media Business (Sessions #9): This session will explain the
paradigm shift in the domain of Communication-Media today with the game-changing phenomena of
‘Convergence’ due to digitalization that has impacted both ‘content’ as well as the ‘distribution’
infrastructure. Convergence will be discussed with a focus on its business implications – viz. the specific
issues of managing and building digital brands, new processes of digital subscriber management and
changes in the business model that attempt to extract value at different points in the value chain in new
ways now made possible by Convergence. Further, the session will discuss emerging thought that argues
that localization and ‘Divergence’ is co-terminus with globalization and ‘Convergence’ in the
contemporary Communication-Media scenario. This session will also explain why it is no longer possible
or useful to think and work in terms of distinctly separate media and communication industries since there
is a real and increasing convergence of the mass media and telecommunication industries; further,
phenomena like social media are blurring the lines of mass media and interpersonal media creating further
phases and layers of convergence.

9. Communication-Media Organizations – A Global Perspective (Session #10): The implications for

designing Communication-Media organizations will be presented in this session. Firstly, the emergence of
‘Convergence’ will be discussed in terms of the setting up of certain convergent practices – viz. the
‘convergent newsrooms’ in the news media business. Secondly, the trend of unitary media conglomerates
being replaced by networked media organizations will be presented and discussed. Specific issues like the
emergence of corporate mega media brands will be discussed. Also, the contemporary phenomena of
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 global organizations collaborating with national, regional and local organizations through such media-
communication networks will be discussed. Further, the spurt of mergers and acquisitions in the media and
communication industries, substantially as a consequence of ‘Convergence,’ will be discussed from a
business, policy and social point of view.

10. Television Industry in the Digital Age (Session #11): The digital technologies have impacted television
both at the levels of production and distribution. In this session the impact of ‘digitalization’ on Television
production and distribution will be discussed. Specifically, some aspects of digitalization that have sharper
business implications will be focused upon – e.g. the implications of Television distribution, which is now
mandated by legislation, will be discussed – e.g. the tremendous increase in the number of channels; the
cross-over of content across platforms; the possibilities of increasing revenue realizations due to digital
subscriber management systems; the possibility of ‘value-added’ services and interactivity due to digital
distribution platforms etc. – will be presented and discussed. Further, the challenges posed by the new
media – e.g. news on the Internet – will be presented, especially, to discuss possible responses and
solutions from the point of view of media companies.

11. Filmed Entertainment in the Digital Age (Session #12): The impact of the digitalization on Filmed
Entertainment has been in the spheres of production as well as distribution. Specific instances of the impact
of digitalization in this domain will be taken up – e.g. the production of films is now empowered with the
huge creative possibilities of ‘visual special effects’ (VFX) that is now a thriving business by itself;
animation films are being imagined afresh with the possibilities unleashed by the new technologies; and
phase of ‘post-production’ of films has changed with the advent of ‘non-linear editing’ systems based on
digital technology, providing flexibility and new creative opportunities. Such developments have business
implications in terms of costs and project management techniques and practices. The distribution and
exhibition of films in India has been historically marred by primitive methods due to which it has not been
usually possible to track revenues at the box office, especially, in the smaller centres. The new systems of
digital transmission and exhibition combined with multiplex screens has streamlined systems of revenue
tracking, and also, opened up possibilities of targeted screening for niche audiences. Some problems like
enhanced ‘piracy’ have also arisen due to digitalization that has made it much easier to duplicate and
distribute filmed content across multiple digital platforms. This session will discuss the various changes
requiring new business strategies.

12. Print Media in the Digital Age (Session #13): The Print Media has been affected by digitalization at the
levels of production and distribution. The production process in the print media has been digitized leading
to efficiencies and in the creation of digital versions of the products that have drastically cut down costs.
The distribution platforms now available, especially, on the Internet have led to greater opportunities for
digital versions of the print products – viz. newspapers, magazines and books – as also, led to the
emergence of new competition since the erstwhile entry barriers have been removed. Specific business
issues will be discussed – e.g. how news media companies are responding to the new digital era; and how
book publishing is responding to the new digital environment. The session will emphasize that although the
technological factors may be similar, the effects on different media industries are determined by a range of
factors, including social and cultural ones. For instance, the competition faced by the print media may be
due to independent sources of news on the Internet like credible blogs as also news being transmitted
through social media. In contrast, the issue of competition may arise in the form of ‘piracy’ for Filmed
Entertainment which is enabled by digital technologies of duplication and sharing; again, online videos on
You Tube are not competition for Hollywood or Bollywood films.

13. Digital Media – Trends and New Business Opportunities (Session #14-#15): The emerging business
opportunities in electronic ‘Gaming’, ‘Animation’ and ‘VFX’ will be discussed in these sessions. These
businesses also provide an idea of the contemporary trends in the Communication-Media domain. These
developments have been providing opportunities to Indian companies and talent to participate in these
kinds of global businesses that are not culture-specific, and therefore, open to global competition. The
sessions will not only present the larger global trends and issues, but also, discuss specific developments
involving India in terms of talent, projects and companies. Also, the intersection of some businesses like
‘Gaming’ with other domains like ‘Education/Training’ in opening up an array of opportunities will be
mentioned.

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 14. Digital Media: Opportunities and Implications for Other Businesses (Sessions #16): The advent of
Digital Media has not only meant that Communication-Media businesses have had to innovate and rework
their business models, but it has also implied that other industries have had to respond to new opportunities
as well as changing realities that have disturbed the received wisdom surrounding their leverage of
communication and media. The session will discuss a few specific issues – for instance, how are other
businesses responding to social media in crafting their business strategies; how are the new businesses of
financial data services for other businesses being provided by media companies like Reuters or Bloomberg;
how is the Education domain leveraging multimedia and new media opportunities; how is ‘gaming’ being
used to work on business strategy; how are corporate brands and corporate reputations being guarded and
enhanced in the digital age marked by social media activation; how are companies attempting to retrieve
data about customer preferences from social media and/or Net activities and feeding their consumer
insights into their ‘customization’ strategies. Also, the ways in which digitalization is creating new
opportunities for governance, public policy and development will be discussed. The session will try to
demonstrate the ways in which businesses as well as the government are responding to the new
developments in Communication involving technology, society, culture and behavior. It is hoped that this
session will help students to perceive Communication in the Digital Age beyond the traditional notions of
Mass Media.

15. Internet, Society and Culture (Sessions #17): This session will discuss some of the larger societal,
political and cultural issues surrounding the Digital Era that have seriously changed the Communication-
Media domain. The objective will be to present some key trends and issues and help students appreciate
that businesses in this domain need to work within a social and cultural reality, and respond to changes in
it. Further, business leaders need to understand the public policy context (which is discussed in the next
session) which takes into cognizance such social, political and cultural factors and often responds to public
sentiments concerning such issues. Specifically, some of the following issues may be discussed – viz.
social cohesion, global nomads, privacy, democratic participation, digital youth cultures, social psychology
of computer-mediated communication (CMC), media politics, communication power and counter-power.

16. Legal & Policy Issues (Sessions #18): A brief overview of the key policy and legal issues that are
restructuring the media will be discussed. In particular, contemporary issues like content regulation, IPR
and privacy that affect the Media and Entertainment sector will be discussed. The larger context of issues
like Freedom of Speech and privacy that impinge on this sector in direct and indirect ways will be
discussed. The policy framework that is now in a state of flux while responding to the various changes will
be introduced and the key issues will be underlined. Further, specific issues will be discussed to ground the
larger issues at the concrete level – e.g. the problem ‘Digital Divide’ that has invited legislations for
digitization of television recently; the issue of ‘piracy’ in films and music; the issue of ‘privacy’ versus the
media’s claimed right to report as a Free Speech issue; and at another level, the larger public policies like
Public Service Broadcasting and Developmental Communication. In particular, it will be pointed out that
Digitalization is transforming the policy paradigms of Developmental Communication in enabling new
models of delivery as well as social change.

17. Project Presentations (Session #19-#20): Students will present their projects in these sessions. The
projects will involve inquiring into specific issues of Communication Management that will be presented in
brief at the end of the course. (Also see section on Evaluation)

8. Pedagogy: The course will be delivered through a combination of Lectures, Seminar-style discussions based on
pre-readings and Case Study discussions. (Please see List of Case Studies) Since the domain of the course is
Communication-Media, select videos and excerpts of media content will be used to anchor the discussion as
well preserve interest in information-intensive sessions. The students work on a project that leads to a Paper
that is the core submission for this course; the projects deal with real industry issues or business plans or
conceptual/theoretical issues. Since students work on these projects over many weeks/months and they are
faculty-supervised projects they provide opportunities to pursue individual interests and learning, which is an
essential part of the pedagogy used to deliver this course.

9. Evaluation: A Mid-Term Examination will be used to assess the understanding of various paradigms and
theoretical frameworks of Communication Management. Further, students will be required to work on specific
projects relating to concrete issues in the context of the different Communication-Media industries to assess

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 their ability to apply key concepts and frameworks. The projects will have two course deliverables that will be
assessed: project papers and presentations.

Evaluation: The break-up of the Course Evaluation is as follows:

➢ Mid-Term Exam: 30%
➢ Project Paper: 60%
➢ Class Participation: 10%

Course Textbook

1. Managing Electronic Media. Making, Marketing and Moving Digital Content by Poe-Howfield, T. V.
(2010), Focal Press.

A. The primary text will be supplemented with a continually updated Reading Packet that will provide
readings from diverse sources.

Selections of papers and chapters from the following books will be included:

a. Communication Power by Manuel Castell, Oxford (2011)

b. The Network Society by Jan Van Dijk (3rd edition), Sage (2012)
c. News on the Internet – Information and Citizenship in the 21st Century by Tewksbury and Rittenberg,
Oxford (2012)
d. Media Unlimited by Todd Gitlin, Owl Books (2002)
e. Public Television in the Digital Era by Petros Iosifidis, Palgrave Macmillan (2012)
f. Television Competes for a Digital Audience (Stephen P Bradley, Nancy Bartlett, HBS, 2011)
g. ‘Why Digital Media Require a Strategic Rethink’ by Michael D.Smith and Rahul Telang (HBR,
October, 2012)
h. Film Stars and Gurus: Soft Power in Bollywood and Beyond (Tarun Khanna, Harvard Business Press,
2008)
i. Hollywood in India: Protecting Intellectual Property (A) (Lakshmi Iyer & Namrata Arora, HBS, 2011)
j. Oprah Winfrey (Nancy Koehn, Helms, Miller &Wilcox, HBS, 2009)

B. Case Studies
i. Pixar Versus DreamWorks: Animating Creative Strategies (Neil Bendle, Justin Goldberg, Krystyn Coombs,
2012)
ii. The National Geographic Society (David A Gravin; Knoop, HBS, 2012)
iii. Star TV in 2000 (Pankaj Ghemawat, HBS, 2005)
iv. Ashta Chamma – The Biggest Small Movie Ever Made (A) (Velamuri et al, 2010)
v. Ringier – Building a Digital-Age Media Company (Felix Oberholzer-Gee, HBS, 2012)
vi. Bolt Newspapers: Is There a Future in Print Media? (Gregory Fairchild & Brianne Warner, Darden School of
Business, 2012)

2. International Economics (EC-211)

(Instructor : Prof. Parthapratim Pal)

INTERNATIONAL ECONOMICS

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 Course Name/Code EC 211

Term PGP II, Term VI

Name of Course Instructor Prof. Parthapratim Pal

Course Prerequisites (if any) Familiarity with basic microeconomics and macroeconomics is
required. The student is expected to understand calculus and basic
econometrics

Restrictions on course registration

Minimum number of students required to offer 10

the course

Session Plan
Session 1 Introduction
1. What international economics is all about
2. Brief introduction to international trade and international capital flows
3. Why countries trade- different motives for trading
4. How trade theory and policy have evolved over the years- Mercantilism
5. Introduction to the theory of Absolute Advantage and the theory of comparative advantage

Session 2 Basic models of international trade I

1. Basic derivation of theories of comparative advantage
2. Gains from trade
3. Implications of the comparative advantage model
4. Shortcomings of comparative advantage

Session 3 Basic models of international trade II

1. Brief introduction to Hecksher Ohlin model
2. Standard trade theory
3. Some important results based on standard trade theory

Session 4 International Trade in presence of imperfect competition

1. Internal economies of scale and trade
2. External economies of scale and trade
3. Production networks
4. Special Economic Zones
Session 5 Trade Policy Instruments
1. Tariff
2. Quotas
3. Tariff rate quotas
4. The concept of ‘dumping’
5. Introduction to WTO

Session 6 Present multilateral trading system

1. WTO
2. Various components of WTO
3. WTO and trade in goods
4. Implications of WTO rules for developing countries

Session 7 More on WTO

1. Non-tariff Measures in WTO
2. Trade Related Intellectual Property Rights
3. General Agreements on Trade in services
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 4. The Doha Development Round

Session 8 Regional Trade agreements

1. Regional trade agreements
2. Case Study of India-ASEAN RTA
3. Global trading pattern, how it has changed over the years, emerging features
4. Trade and trade facilitation;
Session 9 Trade and Poverty and Human Development
International movement of factors: Migration

Session 10 International economics and balance of payments

1. various components of BOP
2. Capital flows
3. Discussion on types of capital flows
4. Economic implications of Capital flows

Session 11 Capital Glows and internationalization

1. Debt crisis of the 1980s
2. Change in the pattern of capital flows in the 1990s, Global and Indian trend in capital flows
and current account balance
3. Non-equity Mode of production

Session 12 Open Economy macroeconomics I

1. Consequences of capital flows
2. Monetary management of capital flows
3. The impossible trinity
4. Sterilization of capital flows

Session 13 Open Economy macroeconomics II: Exchange rate management with an open capital account
1. Fixed versus flexible exchange rates
2. India’s exchange rate policy
3. Reserve accumulation
4. How central banks manages capital flows
5. Discussion on capital controls

Session 14 International Monetary System

1. History of international monetary system
2. Bretton Woods System
3. Breakdown of Bretton Woods system
4. The present global monetary system and its functioning
5. Bretton Woods 2?
Session 15 Guest Lecture 1: India and international trade
1. Evaluation of India’s export-import policies
2. Setting up an export oriented unit in India
3. Trade incentives given by the government
Session 16 Guest lecture 2. Policymakers view on international trade
Session 17- Group presentations by students (may vary depending on the number of registrations)
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B. Mode of evaluation (This may change depending upon the number of registration)
1. Mid-term examination -40%
2. End-term examination -40%

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 3. Group presentation- 20%

C. Textbook for the course: Basic text for this course is ‘International Economics: Theory and Policy’, by Krugman
and Obstfeld (latest edition available). Other reading material will be uploaded to courseweb.

3. The Economics of Business Policy (EC-227)

(Prof. Runa Sarkar / Prof. Anindya Sen, VF)

Internationally, a lot of integration is taking place between economic theory, particularly industrial
organization theory, and management strategy theory. On the one hand, industrial organization theorists
are trying to draw on real life management practices to develop newer and more relevant theories. On
the other hand, management strategy theorists are coming to depend on industrial organization theory to
provide a general framework for organizing the otherwise incoherent mass of facts available to them.

In this context, the current course seeks to provide management students with an introduction to the
interface between industrial organization theory and strategic management theory.

References:

Texts:
D.W. Carlton and J.F. Perloff - Modern Industrial Organization, HarperCollins Publishers.
Luis Cabral – Introduction to Industrial Organization, The MIT Press.

Supplementary Readings:
Jean Tirole - The Theory of Industrial Organization, The MIT Press.
Oz Shy - Industrial Organization, The MIT Press.
F.M. Scherer and D. Ross - Industrial Market Structure and Economic Performance, Houghton Mifflin
Company.
John Kay - Why Firms Succeed, Oxford University Press.

Other references will be provided as and when necessary

Evaluation
Students will be graded on the basis of a mid-term examination (accounting for 50% of the total marks)
and a final examination (accounting for 50% of the total marks). Exams will not, in general, be
cumulative, but if sufficient material is not covered before an exam, some material from earlier part of
the course might be included.

ECONOMICS OF BUSINESS POLICY

1. Costs
Opportunity Cost; The Production Possibilities Curve; Transaction Costs; Rationality; Marginal
Analysis; Production Costs (Costs in the Short Run; Costs in the Long Run; The Relationship
between Short Run and Long Run Cost Curves); Multi-product Firms

2. Value

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(Added) value from the point of view of the firm: The concept of economic profit: EVA: Demand-
supply Analysis and Value: (Added) value from the point of view of the market; Government
Intervention in the Market: The Elasticity Concept

3. Uncertainty, Information and Game Theory

Uncertainty (Choice under Uncertainty; Attitudes towards Risk; Value of Information and Option
Value); Information (The Principal-Agent Framework; Moral Hazard and Adverse Selection
Problems); Game Theory (Normal Form Games and Extensive Form Games; Dominant Strategy
Equilibrium; Iterated Elimination of Dominated Strategies; Nash Equilibria; Mixed Strategies)

4. Market Structures
Perfect Competition; Monopoly; Contestable Markets – the Impact of Potential Entry; Theories of
Oligopolistic Competition

5. Collusion, Entry Barriers and Entry Strategies

Collusion (Explicit collusion and Tacit Co-operation); Entry Barriers and Limit Pricing (Absolute
Cost Advantage; Product Differentiation Advantage; Economies of Scale; The Limit Pricing Model);
Other Models of Entry Deterrence (Building Extra Capacity: Commitment and credibility; Plant
Proliferation; Product Proliferation; Reputation; Predatory Pricing; Strategic Groups and Mobility
Barriers); Entry Strategies

6. Pricing Strategies
Price Inertia: The Kinked Demand Curve Model; Cost-Plus Pricing; Price Discrimination; Tying and
Bundling; Auctions; Quality and Pricing

7. Product Differentiation
Monopolistic Competition; Duopoly models; The Hotelling Model; Advertising

8. Firm as the Source of Profit

Theory of the Firm (The Concept of Proprietary Assets; A Resource-based View of the Firm); Architecture; Reputation;
Knowledge; Creation of Quasi-rent; Sustenance and Appropriation of Quasi-rent ; Strategic Assets
9. Multi-market Operations
Types of Multi-market Operations; Vertical Integration; Conglomerate Diversification;
Internationalisation; International Production as an Alternative to International Trade; Strategic
Motivations for Multi-market Operations

10. Architecture I: Internal Architecture and the Organisation Structure

Internal Architecture; Designing the Organisation Structure; Organisation

Forms

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11. Architecture II: Compensation and Performance Evaluation Systems, External
Architecture and Corporate Governance

Designing the Compensation System; Designing the Performance

Evaluation System; External Architecture; Corporate Governance

12. Requirements for Long Term Success

The Basic Hypothesis; Why Do Successful Firms Decline? Requirement 1:

Innovation; Requirement 2: Growth; Requirement 3: A Changing Product
Portfolio; Requirement 4: Entrepreneurship; Requirement 5: Luck

13. Regulation and Privatization

Regulation (Price Controls; Rate of Return Regulation; Alternatives to Regulation; Environmental
Regulation); Privatization (Reasons for Privatization; Techniques of Privatization; Obstacles to
Privatization; Privatization in India); A Model of the Interaction between Private and Public Sector

14. The Environment of Business

Competition Law; Different Approaches: The Indian Context; Competition Law in India

4. Topics in Macroeconomics (EC-256)

(Instructor: Soumyen Sikdar)

Topics in Macroeconomics
Credits: 1.5
The purpose of this course is to acquaint the students with some important issues and developments in modern
macroeconomics. It will build on the basics they have learned in the compulsory economics courses.
Evaluation: One quiz ( 20%) and one endterm examination (80%)
Lecture Plan
Lecture 1.An overview of post Keynesian developments in macroeconomics

Lecture 2. The Ramsey-Cass- Koopmansmodel , the Diamond model,possibility of dynamic inefficiency.

Lecture 3.Asset bubbles and stability

Lecture 4, 5.Short run management of the economy in a globalized world.

Lecture 6.Expectations in macroeconomics, the Efficient Market Hypothesis

Lecture 7.Budget deficits and fiscal policy, the Ricardian Equivalence debate.

Lecture 8. Endogenous growth

Lecture 9. Consumption and investment, the random walk hypothesis

Lecture 10.Financial crises, the Great Depression and the Global Financial Crisis of 2008

Reading
Selected chapters from
O. Blanchard and S. Fischer: Lectures on Macroeconomics
L. Copeland: Exchange Rates and International Finance
D. Romer: Advanced Macroeconomics
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5. Select Issues in Banking and Monetary Policy (EC-257)
(Instructor : Prof. Partha Ray)

The aim of the course is to introduce some contemporary issues on banking and monetary policy.
The course will be a mix of theory, experience and policy, with a distinct tilt towards some of the
applied aspects of commercial and central banking. The course can be appreciated with some
background in macroeconomics and can act as a useful knowledge base to anyone with interests /
career plans in the financial sector.

Assessment

This is a one and half credit course and will be spanned over 10 lectures. Assessment will be
based on a closed book test at the end of the lectures.

Session Plan

Lectures 1 & 2: Why do banks exist?

Reading List:

• Ferguson, Niall (2008): The Ascent of Money, Penguin books, Chapter 1, “Dreams of
Avarice”.
• Diamond, Douglas W. and Philip H. Dybvig (1983): “Bank Runs, Deposit Insurance, and
Liquidity”, Journal of Political Economy, Vol. 91, No. 3 (June 1983), pp. 401-419, available
at http://www.jstor.org/stable/pdfplus/1837095.pdf?acceptTC=true

Lecture 3 & 4: Capital based bank regulations: Basel I, II and III

Reading List:

• Dewatripont, Mathias., and Jean Tirole (1994): The Prudential Regulation of Banks, Chapter
11 on , “Analysis of Basle Accords”, MIT Press, Cambridge, Massachusetts.
• Basel Committee on Banking Supervision (2011): “Basel III: A Global regulatory framework
for more resilient banks and banking systems”, available at
http://www.bis.org/publ/bcbs189.pdf

Lecture 5: Macro-prudential banking regulation

Reading List:

• Bank of England (2011): Instruments of Macro-prudential Policy, Discussion Paper,

available at
http://www.bankofengland.co.uk/publications/Documents/other/financialstability/discussion
paper111220.pdf

13
Lectures 6 & 7: Monetary Transmission Channels: Differing Perspectives

Reading List:

• Blanchard, Olivier Jean (2001): “Why Does Money Affect Output? A Survey”, Chapter 15 in
Benjamin M. Friedman and Frank H. Hahn (eds.): Handbook of Monetary Economics,
Volume 2, Elsevier.

Lectures 8, 9 and 10: Monetary Policy Operating Procedures in select countries: US, Euro
Area, UK and India

Reading List:

• Borio, C E V (2001): “A Hundred Ways to Skin a Cat: Comparing Monetary Policy

Operating Procedures in the United States, Japan and the Euro Area”, in BIS Papers No. 9,
Bank for International Settlements, Basel, available at
http://www.bis.org/publ/bppdf/bispap09.htm
• Gray, Simon and Nick Talbot (2006): Handbook on Monetary Operations, Bank of England
CCBS Handbook No 24, available at
http://www.bankofengland.co.uk/education/Documents/ccbs/handbooks/pdf/ccbshb24.pdf
• Reserve Bank of India (2011): Report of the Working Group on Operating Procedure of
Monetary Policy, available at
http://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/PMP150311F.pdf

6. Global Political Economy of the 21st Century (EC/PP-266)

Prof. Biju Paul Abraham (CC), Prof. Partha Ray

1. Course Title: Global Political Economy of the 21st Century (Cross

Listed Course – PPM and Economics)

2. Course Instructors:

a. Partha Ray (PR), Professor, Economics Group

b. Biju Paul Abraham (BPA), Professor, Public Policy and Management Group

3. Offered for: Term VI

4. Course Objective: The course aims to expose students to contemporary global

economic developments and relate it to changes in the regional and global

14
 political environment so that they gain a better perspective of the current

global, regional and national business environment. The primary focus of the

course will be on discussing the background and context of global economic

and political changes in different regions / countries of the world that are of

current concern. Its special emphasis is on the political economy of the US,

Europe, Japan and the BRICS countries.

5. Evaluation Procedure:

a. Two Announced Quizzes – each with 10 percent (one pre mid-term and

the other post mid-term)

b. One Mid-Term exam – 40 percent (one long and a few Short-answer type

questions)

c. One End-Term exam – 40 percent (one long and a few Short-answer

type questions)

6. Cap on Students enrolment – 60

7. Course Outline
No. Broad Heading Instructor Broad Outline
1 Introduction BPA & PR Introduction to Global Political Economy
2 Global Economic Trends PR Economic Forces behind Globalization – Long-
and Challenges term trends in Global Growth – Recent
protectionist tendencies in developed countries
3 Politics of Globalization: BPA The post-war world order – Rise of US power -
Trends and Challenges the collapse of communism and the rise of new
powers in the International political system – The
challenge of integrating new powers in the global
political architecture

4 International Political BPA United Nations and its various Agencies; Global
Institutions Groups (G7 / G8 or G 20); the role of the G7
during the Cold War, the co-option of Russia and
the formation of the G8; the rise of the G-20 post-
2008; legacy issues impeding reform of global
institutions.
15
No. Broad Heading Instructor Broad Outline

5 International Economic PR Global Economic and Financial Architecture -

Institutions IMF, World Bank, WTO, BIS and global financial
regulatory bodies (such as FSB, IOSCO)

6 The Euro Area PR The Euro-area crisis with special reference to the
Greek and the Irish economy

7 Politics of the European BPA The impact of the EU on global and regional
Union politics; Political impact of the Euro crisis; political
impact of the current refugee crisis on the EU

8 Brexit PR & BPA Economic and Political factors leading to Brexit;

Its possible impact on EU and global economy
and polity
9 Asia – with special PR Emergence of China as an industrial superpower
reference to China – global imbalance - Chinese Currency
Misalignment as a strategy of trade policy -
Recent growth deceleration in China

10 Asia – with special BPA The ‘re-emergence’ of China and its impact on
reference to China global politics/institutions; China-
Mid –Term Examination
11 Economic Trends in Asia – BPA Long-term stagnation in the Japanese economy –
Japan bursting of asset price bubble – emergence of
quantitative easing – the demographic crisis –
Abenomics.
12 Political trends in Asia – BPA Japan in East Asia – Japan-China relations –
Japan Constitutional changes and its potential impact
13 Economies in Middle East PR Middle East Economies - Exchange rate
and North Africa arrangement among GCC countries- Economics
of Oil Price and its recent collapse – Resource
Curse
14 Gulf Politics, Syria and the BPA Oil and Geopolitics in the Middle East and North
Middle East Crisis Africa; The impact of religious conflict on Arab
and Gulf geopolitics; Syria; the rise of ISIS and its
impact on MENA politics
15 Russia and CIS Countries PR Emergence of Russia as a 21st century economic
power and its recent downturns – CIS countries &
their economic potential

16
 No. Broad Heading Instructor Broad Outline
16 Russian and the Second BPA The downturn in US-Russian relations and its
Cold War impact on global politics; US-EU-Russia relations
– the impact of EU’s energy dependency on
Russia and Russia’s actions in its neighbourhood
– Ukraine

17 Latin American Economies PR Latin American economies with special reference

to Brazil (emergence of an economic power
house and its recent downturns) and Argentina
(Debt crisis and default)

18 Latin American Politics BPA Brazil, Argentina, Venezuela and the re-
emergence of Latin America as an independent
actor since the 90s; Politics of free trade in the
Americas; Brazil and BRICS
19 South Africa PR & BPA Trends in South African economy and polity – tow
commodity prices and its impact – inter-race
relations and political trends
20 Summing -up BPA & PR Conclusions and summing-up

8. Text: Ravenhill John (2016): Global Political Economy, Fifth Edition (Oxford: Oxford
University Press).

9. Reference: Instructors will refer to relevant articles that will be distributed in the
class / uploaded in course-web.

7. Credit Risk Management (FI-282)

(Instructor : Prof. Deb Ghosh, VF, CC : Prof. Arnab Bhattacharya)

17
 Programme : PGP

Name of the Course: Credit Risk Management

Core / Elective : Elective Cap (for Elective)

Credit: 3

Academic Year & Term: 2019-20, Term VI

Course Coordinator: Prof. Arnab Bhattacharya

Email: IIMC id: [email protected]

Instructor: Prof. Deb Ghosh. (Sessions 1 – 20)

Affiliation: Indian Institute of Management Calcutta

Email: IIMC id: [email protected]

Introduction to Course / Course Description

This course begins with an introduction to Global Bank’s Capital market and trading business and how
risk is managed whilst dealing with counterparties and derivatives products. Students will learn the
distinction between credit risk, market risk and counterparty risk to understand the business inside a
Global bank’s trading room. Students will also learn how different types of risk is measured based on
practices of international banks and their risk measurement systems with case studies of a leading Global
Commodity Trader. The course also enables the students to understand the theory behind risk models for
a single counterparty as well as at portfolio level. The critical changes in regulatory system post crisis
will give them an understanding of the flaws and failures in the previous regulatory regime and how
markets have changed, including reliance on market -infrastructure to phase out the OTC derivatives
trade.

Course Objective and Key-takeaways from the course

Course Objective : the objectives of the course are: -

1. Understanding Credit risk, Market risk and Counterparty risk and differences thereof.
2. Risk Management practice in Banks for different types of counterparties – corporates,
sovereigns, Financial Institutions, Hedge funds. Changes in market infrastructure and importance of
CCCPs leading transition from OTC to listed markets.
3. Theoretical understanding of the risk models for single counterparty / portfolio level default,
correlated defaults, recovery rates. etc.
4. Evolution of Risk management – Post Crisis and impact of Basel III / Dodd Frank affecting
Derivatives trading and managing Derivatives risk.

Key-takeaways: At the end of the course students should be able to

1. Gain an insight on the working of a Global Bank’s Risk Management process and systems
2. How Global banks manage their risk exposure whilst trading in Equity markets; Commodities

18
 market; Interest rates and Forex derivatives; CDS, Bond and Repos.
3. Develop an understanding of the models at counterparty level and portfolio level for calculating
Value at Risk and how Global banks use VAR for management and reporting of the derivatives
exposure.
4. Understanding the changes in the markets infrastructure and how listed markets work as well as
the regulatory incentives accentuating the transition
5. An understanding of the Basel III regulation and comparison with Basel II to better appreciate the
failures leading to 2008 crisis. Likewise the Dodd Frank and Volcker rules in response to the crisis
applicable to only US Banks and US counterparties.

Programme Level Learning Goals: The course aims to help students achieve the following goals and objectives:

Learning Goals
Goal 1. Ability to think critically and learn how to deal intuitively with (risk) uncertainty: Possess state-of-
the-art knowledge of theory and practice in all functional fields of management and the ability to think critically,
and apply them to diagnose and find solutions to organisational problems, even in unfamiliar or uncertain
situations

Sessions through which learning goal 1 is imparted : 1, 6,7,8,9 and 18

Goal 2. Apply ethical values : Develop and apply ethical values to analyse and solve organisational problems

Sessions through which learning goal 2 is imparted : 15, 16 and 17

Goal 3. Develop a global perspective that is built upon knowledge

of economic, technological, regulatory and political forces that
are shaping a new international order in the 21st century
Learning Objectives
• Objective a : Familiarize with global factors/phenomenon affecting the business scenario
• Objective b: Acquire the ability to understand and comprehend issues and practices prevalent in
the international arena
• Objective c : Develop competence in analysing changes in international and domestic environment

Sessions through which learning goal 3 is imparted : 2, 10, 12, 14, 15, 16, 17, 19 and 20

19
 Goal 4. Help students to articulate their thinking and ideas through verbal and written
communications : Develop their capacity to articulate their thinking and ideas through verbal and written
communications, at a professional (manager/consultant) level and to deliver the same

Sessions through which learning goal 4 is imparted : 6, 7, 18 and 19

Goal 5: Ability to use modern IT enabled decision support tools

for improved understanding of business
Be able to appreciate the dynamics of Information Technology acquisition and absorption by present
day business organizations and develop ability to use modern IT enabled decision support tools for
improved understanding of business

Sessions through which learning goal 5 is imparted : 4, 5, 9 and 10

Goal 6. Apply their professional knowledge and skills to diagnose and resolve business problems :
Acquire capacity to apply their professional knowledge and skills to diagnose and resolve business
problems in actual organizational settings

Sessions through which learning goal 6 is imparted : 2, 3,12 and 13

International Components in your course (if any)

The course essentially deals with practices, processes and tools used by Global Banks (SIFI) and the
way in which it manages its risk exposure in Global markets. The regulation post crisis has largely
shaped the contents of the course, driven by the Basel III and Dodd Frank Acts regulating the
transatlantic financial markets. A case study of a Global Commodity Trader will enable the students to
learn how the business has changed as well as the challenges of 2008, financial crisis, the sovereign
risk crisis from Greece fall out in 2011 and the commodity crisis in 2015.

1
Pre-requisites
None

Required Text Book(s)

“ Credit Risk Management ” (CRM) McGraw Hill Education (India) Education 2018 – by Michel
Crouhy, Dan Galai and Robert Mark

Recommended Text Book(s)

“ Risk Management and Financial Institutions ” 3rd Edition WILEY – by John C Hull

Course Pack Distribution to students

Students will be given Class notes at the end of each session and handouts on certain topics,
essentially the theoretical inputs for Single Counterparty and Portfolio level default modelling as
well as Casework reading papers.

Technology enabled learning component for your course

The course involves extensive use of Bloomberg and analysis of data thereof, using advanced
spreadsheet / excel tools for calculating KMV default points, CDS pricing and Bond forward
curves…etc. The understanding of VAR models involves Monte Carlo simulation techniques,
which will be explained in details during the concerned sessions.

Session Plan

No. Topic Intended learning References

outcome
1 Introduction to Global The student should be Reading: Chapter 1,
Capital Markets able to: CRM, Class Notes
a. Credit Risk a. Understand the
b. Market Risk different types of Risk in
c. Counterparty Risk Capital Markets and the
differences between
credit, market and cp
risk

2
2 Sovereign Risk The student should be Reading: Class Notes
a. Structured approach to able to:
assess Country Risk a. Understand Country
• Key Risk risk through examples of
factors and Sovereign default
Financial following from Asian
crisis-1997 and
indicators
contagion effect; Iceland
• Early warning default and Irish risk
sign of pre-crisis and later Greek
Sovereign stress crisis 2011
b. Develop insights into
Sovereign risk factors
and learn how to use key
financial indicators in
assessing sovereign risk
c. Protection
mechanisms in
international Insurance /
CDS markets

3. Risk Management The student should be Reading: Class Notes

Practice and process in able to:
Global Banks / FIs a. Gain knowledge on
a. Corporate & key players in Global
Investment Banking financial markets and
b. Financial Institutions their respective remit
c. Investment Markets b. How risk is managed
by different players and
by those operating in
niche markets
c. Gain familiarity with
the credit process in
Global Banks and FIs
and Alternative
Investment Funds (AIFs)
4. Single counterparty The student should be Reading: CRM Chapter
default risk able to understand: 11 and handouts
a. Altman Z score a.Credit scoring metrics
b. Merton b. Computation of Z
c. KMV -edf score
c. Difference between
structural and reduced
form models
d. Merton model and its
importance to
calculating cp default
risk
e. KMV methodology
and application of edf in
credit scores

3
5. Portfolio models for The student should be Reading: CRM Chapter
default and Recovery able to: 11 and handouts
a. Actuarial model a. Understand the
b. Credit Risk + difference between
c. Credit Metrics Expected loss vs.
d. Correlated defaults Unexpected loss
b. Understand rationale
for Economic Capital
c. Develop an insight
into the concept and
origin of CVA
d. Understand debt
levels and asset returns
of a firm (volatility)
6 and 7 Casework – Risk The casework and the Case papers
Analysis of a Global discussions
Commodity Trader a. will give the students
an overview of the pre-
and post financial crisis
period
b. The reason behind
corporate actions
undertaken by the Trader
c. Insight on the multiple
risks and how the trader
attempted to mitigate
them in a complex
market often hurt by
volatility and
Commodity market
downturn and the effect
of correlation

8. Counterparty Risk The student should be Reading: CRM Chapter

able to understand: 13 and Class notes
a. Counterparty risk and
how different it is from
credit risk
b. How hedging works
for derivatives contracts
with counterparties
c. Measuring exposure to
counterparty risk
9. VAR fundamentals The student should be Reading: CRM Chapter
able to understand: 13 and Class notes
a. Value at Risk as a
concept and practice
b. Market parameters,
correlation, revaluation
and netting with impact
VAR
c. Monte Carlo
simulation process
involved in calculating
VAR
d. VAR – PV, PFE..etc.

4
10. Credit Value Adjustment The student should be Reading: CRM Chapter
able to: 13 and Class notes
a. Gain an insight on the
importance of CVA post
crisis
b. Calculate MPNV+,
EPE…etc used in the
computation of CVA
c. Understand Impact of
CVA on Trading book
d. Understand Liquidity
Value Adjustment
(LVA) in the absence of
collateral
11. Market Risk The student should be Reading: CRM Chapter
able to: 7 and Class notes
a. Gain knowledge of
market risk indicators
and measures of market
risk
b. The need for Stress
Testing, VAR on CVA
and appreciate market
scenarios for Stress tests
12. Central Clearing The student should be Reading: Class Notes
Counterparties (CCCPs) able to:
a. Have an insight on the
changes in the market
infrastructure for
derivatives trading post
crisis
b. Understand margin
calls- Initial Margin,
Variation Margin, intra-
day margins…etc.
c. Understand the
Waterfall structure in a
CCCP and the Default
Fund
d. Understand the
Mutualisation structure
of a CCCP
e. Understand how
Triparty agreements
work for SLAB and
Repo trading

5
13. Credit Default Swaps The student should be Reading: CRM Chapter
(swaps) able to: 12 and Class Notes
a. Have an insight of the
development of CDS
markets driven by risk
arbitrage
b. Understand the
evolution of CDS market
post crisis
c. Calculate CDS prices
and understand the
rationale used for market
driven recovery rates
(LGD)
d. Appreciate the
difference between CDS
and Bond market and
CDS premia and credit
spreads
e. Gain an insight on
synthetic CDOs and risk-
allocation
14. Legal Framework and The student should be Reading: Class Notes
Collateral Management able to:
a. Appreciate the need
for a Master Agreement
and elements of ISDA
b.realise the need for
credit support ( CSA) in
managing derivatives
trades
c. Understand the
collateral call
mechanism – Threshold/
independent amount;
Margin calls and
slippage and no control
period impacting VAR
d. Knowledge of GMRA
and GMSLA for Repo
and SLAB trading
15, 16 and 17 New Banking The student should be Reading: CRM Chapter
Regulatory Structure able to: 3 and Class notes
Basel III and Dodd a. Gain an insight on the
Frank Act background for Basel
Framework starting with
Basel I and standardised

6
 weights
b. Understand Basel II –
Capital Structure
complexities,
inadequacies leading to
crisis
c. Understand changes
leading to Basel III in
response to the Financial
crisis
d. Insight on the
background behind
Dodd Frank Act and the
regulation in the US in
response to the crisis
e. Understand the risks
of Prop trading leading
to Volcker Rule
18 and 19 Casework – Analysis of The casework and the Case Papers
Indian Banks and Global discussions
Banks a. will give the students
an overview of the new
Regulation which Banks
have to comply with
b. Compliance to Basel
III norms and regulatory
reporting changes
c. Students will gain an
understanding on the
impact on Bank’s
Capital structure under
the new framework
d. Students will
appreciate the need for
managing leverage and
Liquidity in Banks and
appreciate withdrawal of
Govt led bail-out under
the new regime
20. Global Markets in post In the concluding session Reading: CRM Chapter
crisis era / Basel III era students will appreciate 3 and Epilogue
the new trends in Global
Banking and FI
regulations, the
hardening of stance by
Govts vis a vis Banks
and the gradual
withdrawal of implicit
support.

Evaluation Components
✓ Components ✓ Weightage

Casework 40%
End Term 60%

7
Online Course Management (moodle)/course web
Additional course materials, power point slides, the instructor will share tutorials and assignments in
the course web after the corresponding classes, as and when required.

8. Topics in Financial Services (FI-286)

Faculty: Balachandran R, VF CC: Prof. Ashok Banerjee

Course introduction
Financial services is often associated with commercial banking and investment
banking. This course will focus on selected topics in financial services, covering some
of the latest trends, products and players.

Learning objectives
The course will help participants aspiring to work in financial services companies,
commercial and investment banks, consulting firms, wealth management, corporate
treasuries etc. to acquire breadth of knowledge in some of the latest developments in
financial services, and certain traditional areas hitherto uncovered. Emerging players
like Asset Reconstruction Companies and traditional ones like insurance providers
would be covered. The inter play between the currency, bond, commodity and equity
markets would be discussed. A comparison of securities market regulators in the US
and India will help in attaining a global perspective on regulatory trends. Students will
acquire insights into the challenges from financial crime and money laundering
through case studies, and will learn important lessons on how to avoid falling prey to
them.
The rise and fall of crypto currencies, digitalization of financial services, fintech
companies would be discussed. The course will also address the trending topic of
Blockchain technology and its potential to transform financial services.
Real life scenarios and cases will be interspersed throughout the course. Perspectives
will be offered in global financial services.

Pedagogy
A mix of pre reads, class room interactions, group projects and extensive usage of
case studies.

Evaluation scheme

Evaluation component Type(Individu Weightage

al/ %
Group)
Group Project submission (Report-10%, Group 20
Presentation-10%)
Quiz(1,mandatory) Individual 40
End term exam Individual 40

Project Submission
The project work will be executed through a team. Further inputs will be shared
during the course.
Session wise plan
Sessi Topics covered Pre class reading
on
8
No
1 Introduction to the financial services industry :
beyond commercial banking and investment
banking

2 Global FX markets https://www.bbva.com/en/fore

The correlation between currency, bond, ign-currency-market-work/
commodity and equity markets

3 Insurance companies, old generation and new https://www.irdai.gov.in/ADMI

Life and non-life insurance NCMS/cms/NormalData_Layout
The role of actuaries .aspx?page=PageNo4&mid=2
Reinsurers
The role of IRDA
The rise of pension funds in Indian financial
services

4 Investment/merchant banking, buy side/sell side https://www.forbes.com/sites/

analysts russalanprince/2014/05/16/wh
Wealth management firms at-is-wealth-
management/#21f4c3d3133e
Classic asset allocation strategies
Wealth management in China, one of the largest
in the world, its off balance sheet nature and
potential threat to financial stability

5 Emergence of Asset Reconstruction Companies http://www.ey.com/Publication

in the stressed assets market /vwLUAssets/ey-the-
The burgeoning market for Resolution insolvency-and-bankruptcy-
code-2016-an-
Professionals created by the Insolvency and
overview/%24FILE/ey-the-
Bankruptcy Code(IBC) insolvency-and-bankruptcy-
Comparison between the IBC in India and code-2016-an-overview.pdf
Chapter 11 bankruptcy process in the US
Debtor in Possession Financiers

6 Investor protection: SEBI, the overarching https://economictimes.indiatim

guardian angel of the financial markets, and its es.com/markets/stocks/news/v
effectiveness. iew-indian-investors-in-search-
of-a-guardian-
SEBI vs SEC enforcement, a comparison
angel/articleshow/60070972.c
ms
The role of credit rating agencies
Proxy advisory firms http://epaperbeta.timesofindia.c
om/Article.aspx?eid=31818&arti
clexml=Expert-Take-When-
Credit-is-Mispriced-and-
Investors-17062017006014

7 Financial market startups in India

The fintech scenario in India and globally: https://hbr.org/2017/01/the-
competition for banks or partners? truth-about-blockchain

9
 The rise and fall of crypto currencies: investment
avenue or medium of exchange?

Digitalization of financial services

Blockchain applications in financial services

8 The role of the Financial Action Task Force, Paris, http://www.fatf-

in combating crime in financial services gafi.org/about/
Financial Intelligence Units
PMLA and CFT
Offshore financial centres

9 Case studies Will be provided prior to the

class

10 Project presentation by groups

About the faculty

Balachandran R has completed his PGP from IIM Calcutta during 1987-89(24th batch).
His 27 + year career has been primarily with Standard Chartered Bank in Corporate
and Investment Banking and Infosys Finacle in Banking Product Management. Since
leaving the corporate world, he has contributed extensively to Economic Times as a
columnist on a variety of topics including banking, fixed income investing, financial
markets and investor protection. He has contributed to other financial media as well
(Business Standard, Business Line and Business World). He is keenly looking forward
to sharing his experience acquired through travelling and working on assignments
with financial institutions in many regions including India, United States, Middle East
and Latin America.

9. Treasury Management and Foreign Exchange Markets (FI-291)

(Instructor : Mr. Satish Krishnan, VF CC: Prof. Ashok Banerjee)

Programme : MBA Second Year

Name of the Course: Treasury Management and Foreign Exchange Markets

Core / Elective …… Elective Cap (for Elective)…………….

Credit: 1.5

Academic Year & Term: VI, 2020-21.

Course Coordinator: …… Prof Ashok Banerjee …

Email: IIMC id: [email protected]

10
Instructor: Satish Krishnan…………….( Sessions … – …)

Affiliation: ………………………..

Email: IIMC id: [email protected]

Instructor: ……………………….( Sessions … – …)

Affiliation: ………………………..
Email: IIMC id:

Introduction to Course /Course Description

Treasury function in an organization plays a critical role of ensuring efficient fund management. It gets all
the more critical when funds become the raw material of the business, as in case of Banks. With further
complexity added with regulatory supervision and requirements on banks, the treasurers’ rule get quite
demanding and challenging.
This course delves deep into the treasury function, in general, and more specific to the banks. In addition to
the aspects of fund management in both local currency and foreign currencies, this also covers the nuances
of foreign exchange risk management, which is a challenging aspect normally for treasurers, given the risks
and complexity involved. Also, considering that banks extend their foreign exchange risk advisory services
to their corporate clients, this course covers the subject both from the bank and the corporate perspective, for
better preparation to equip students to face real-life demands in treasury management.

Course Objective and Key-takeaways from the course

By the end of the program, the students should be able to answer the following:
1. How does the treasurer organize the activity in front, middle and back office sub-functions, and what
drives them?
2. What are the typical treasury assets and liabilities and what instruments are used to manage them?
3. How does one analyze the banking system liquidity for taking interest rate view and managing Interest
Rate risk?
4. How does monetary policy changes impact the banks and its functioning?
5. How global factors impact the local markets and how banks manage the same?
6. How corporate treasurers help business manage the challenging environment with efficient treasury
management?
7. What are the different mechanisms in FX markets and broadly how developed & emerging markets
manage their FX market in orderly way?
8. Is there, and if so, what are the changing dynamics in fiat currencies in the light of emergence of crypto
currencies?
9. How currency experts form their views on currency movements and manage their risk?
10. How does one analyze the Balance of Payment statement and make forecasting for currency risk
management?
11. How technical analysis work and what are the common tools used for effective trading, especially for
intra-day activities of the banks and traders?
12. What are the key regulations governing FX activities in banks & corporates in India and in other larger
markets?
13. How regulations and risk management activities influence each other?

11
14. What are the controls and measures taken to manage the Operational and Regulatory risk in a dealing
room?

Programme Level Learning Goals (7)

Please map your course with Programme Level Goals **. Please list the learning goals along with specific
objectives that are relevant for your course. The broad learning goals for the IIMC’s MBA are listed below;
choose the goal/s that are relevant for your course. In other words, even if you don’t explicitly “teach” the
topics listed below, it is likely that one or more of them are inherently addressed in your course. For
example, if you encourage class participation or have presentations, the goal of “Ability to Articulate” would
be relevant; if you cover global issues, the goal of “Acquiring Global perspective’ would be relevant; if you
require case analysis and case reports (be it teams, or individual students), the goal of “critical thinking &
problem solving’’ would be relevant; if you have any team-based assignment/s, the goal of “ leadership
qualities ” would be relevant; and if ethics is covered in any form in the class, the goal of “acquiring ethical
values ” would be relevant. Mapping of course with Goals is a process of combining inputs & assessment.

Learning Goals
1. Possess state-of-the-art knowledge of theory and practice in all functional fields of management and the
ability to think critically, and apply them to diagnose and find solutions to organisational problems, even in
unfamiliar or uncertain situations

The course will provide the students an in-depth knowledge on treasury function. Topics are designed to
provide knowledge on how practically the treasury is managed.
The students will also be able to appreciate the treasury’s role in managing the overall business and able to
think of comprehensive solution to organizational problems.
Being a dynamic topic, students will be required to connect with current events having bearing on financial
markets, and thus be able to draw lessons on how businesses cope up with the known factors on critical
functions like treasury.

2. Develop and apply ethical values to analyse and solve organisational problems
The treasury function in a bank is considered as high risk activity and building an “ethical culture” is the
most effective mitigant. The topic will cover how high ethical standards are critical and are being adopted.

3. Develop a global perspective that is built upon knowledge of economic, technological, regulatory and
political forces that are shaping a new international order in the 21 st century
As the topic per se is a global topic, the discussions will cover global themes and the factors that impacts
treasury function and foreign exchange market. The factors range from economic, political, socio-economic,
regulatory, etc.,

4. Develop their capacity to articulate their thinking and ideas through verbal and written communications, at
a professional (manager/consultant) level and to deliver the same
The in-class discussion and project work will drive their learning to articulate and communicate at a
professional level.

5. Be able to appreciate the dynamics of Information Technology acquisition and absorption by present day
business organizations and develop ability to use modern IT enabled decision support tools for improved
understanding of business
Topic will cover the newage trends in the treasury functions which includes emergence of technology based
solutions provided for managing currency risk and cryptocurrency’s emergence with its impact.

6. Acquire capacity to apply their professional knowledge and skills to diagnose and resolve business
problems in actual organizational settings
Since the topic and contents covered are of dynamic in nature, there will be a natural learning of
understanding how to assess the risks / problems and resolve through risk management.

7. Acquire the leadership qualities and the competence needed for leading organizational change

12
The group assignment is expected to get the students work together and drive the leadership qualities. Also
the understanding of how treasury function fits into the overall business and drives the business growth, will
drive home the leadership qualities that the treasurer role demands.

Please note,

➢ A course can match multiple Goals

➢ A course might not meet all the objectives, please feel free to identify the objectives that a course
might meet

** Earlier Course mapping has been provided in the reference document.

International Components in your course (if any)

Please add a paragraph identifying any international components of your course. This may include case
studies or videos, group work across international boundaries etc.

Global economic scenario in general and global foreign exchange markets in specific will be the
international components covered in this course. This will provide the students a good understanding of how
the world of treasury functions in different geographies and how FX markets work in the developed and
emerging markets.

Pre-requisites
Will need to have basic understanding of Financial markets, Fixed income securities and Interest rates,
Foreign exchange, Derivatives and Banking.

Required Text Book(s)

Will be provided later

Recommended Text Book(s)

Will be provided later

Course Pack Distribution to students

Course material (if required) will also be issued from the Programme office

Technology enabled learning component for your course

(You may include if required)
For teaching technical analysis, it would be better to use live market charts and do some real time charting
exercises in the class. This could be achieved with Reuters charts, if possible, or by using other free tools,
projected in the class for analysis. If not, the same could still be achieved with screenshots, but not live
charts for charting.

13
Session Plan

S No. Topic Intended learning outcome References

1 ➢ Introduction to Financial Markets
and Treasury
• Overview of Financial markets
and functions in a bank

➢ Scope and Functions of Treasury Understanding of Treasury

management function, various sub-functions,
• Objective challenges and relevance of Will be suggested later
• Nature of Treasury Assets and treasury function
Liabilities – in local and
foreign currencies
• Organizational structure Student should have basic
• Functions & Responsibilities understanding of banking
of Treasurer

2 ➢ Bank Treasury Operations

• Liquidity management Students should be aware of Suggested reading of the
• Integrated Treasury function banking system, including the published minutes of latest
• Objectives, Funds Sources and fact, with basic knowledge, that meeting of
Deployment & understanding banks are regulated by central a. RBI Monetary Policy
implications of CRR, SLR, banks who in turn are governed committee
https://www.rbi.org.in/scripts/Annualpolicy.as
LCR, etc., by global regulatory arrangements px
• Treasury Instruments – on banking supervision,
analysis of instruments and its b. US Federal Reserve Open
application Students should also have basic Market Committee
• Monetary policy framework understanding of what monetary https://www.federalreserve.gov/monetarypolic
y/fomccalendars.htm
and implication of system policy intends to address.
liquidity changes
• Global Linkages and liquidity
impact

3 ➢ Corporate Treasury Management Superimposing the knowledge of Will be suggested later

• Cash management & treasury bank treasury discussed in the
function earlier sessions, this will help the
• Cash transfer, Cash student visualize the needs and
forecasting, cash concentration challenges of a corporate
• Working capital management treasurer.
• Financing – debt & equity
management
• Investment management Expect student to have a basic
• Basics of Hedge accounting understanding of treasury function
and its implications in hedging and various heads in a non-
decisions banking company’s balance-sheet
for them to appreciate the
treasury’s scope.

14
4 ➢ Foreign Exchange Markets Students to acquire deeper Material will be provided
• Global Scenario understanding of how FX markets later
• History of FX markets and function, globally and in India.
evolution – Gold Standard, This will provide a deeper
Bretton wood agreement, understanding of functioning of
European Monetary Union, FX markets globally, and also set
Crypto currencies the tone for the next session on
• Exchange Rate Mechanism forecasting and managing the risk
• India Forex market and Central of FX rate movements with
Bank approach on the fundamental analysis.
functioning
• India FX related controls and
regulatory direction

5 ➢ Currency movement forecasting Students will be able to appreciate Material will be suggested
• Foreign Exchange market and how a bank/FX traders analyze later
global macro-economic the market and take views for
linkages risk management. This is a crucial
• Analysis of quantitative and module for getting a deeper
qualitative themes (dynamic understanding of the market
content) dynamics, with specific focus on
• Carry trades, hedge biases and USDINR FX market, and the
its implications knowledge to manage FX risk.
• India’s Balance of Payment –
Analysis and head-wise
discussion on dynamics and
sensitivity

6&7 ➢ Technical Analysis As applicable to all asset classes Material will be suggested
• Technical Analysis- in the financial markets, the later
introduction complexity the discounting of
• Conventional tool for news and factors make it difficult
analyzing price and volume to predict market reaction and
movement measure the degree of likely
• Advanced technical tools and movements. Students will be able
their application to appreciate how a
• Elliot wave theory – a detailed complementing Technical
study Analysis will help an FX risk
• Practice and exercises using manager/trader to sharpen the
live charts view taking capability. Since this
is a skillset, it requires practice
after the learning to apply this on
a meaningful way.

8 ➢ Banks’ FX trading desk Students will learn the activities Material will be provided
• Practical aspects of FX trading and expectations of the FX desk later
and mechanism in a bank both from the currency
• Objective, Regulations (Dodd risk management and regulatory
Frank, EMIR), Conflicts, perspectives.
Market ethics and Code of
Conduct
• Regulatory structure in India
(FEDAI, RBI)
• Trading Function: spot/forward
rates, FX Option desk –
15
 currency risk, managing
correlation risk on cross
currency options
• Deriving forward points from
swap curves and long tenor gap
management
• Exchange Trade Currency
Derivatives (ETCD) and OTC
market dynamics
• Arbitrages and pricing in of
liquidity and event risks
• Research function: Analysis
and forecasting of FX rates for
proprietary and client advisory

9 ➢ FX advisory in Banks Students will gain understanding

• Objectives and drivers (credit of the banks’ advisory function,
risk linkages with market risk) which supports corporates on FX
• Credit risk quantification and & Interest rate management with
capital allocation their research, input for hedging
• Client hedge solutions and risk decisions and hedge solutions that
management advisory are more appropriate.
• Rollup of client hedging
activity into banks position and
management
• India specific FX operations
for clients (regulations, early
delivery implications, charges
on account of interest on outlay
of funds, etc.,)
• Risk management approaches
by client category and
solutions in practice
• Client Suitability and
Appropriateness (case study:
India derivative litigations and
regulatory responses)
• Credit Value Adjustment
(CVA) implications on client
transaction pricing and
management
• Emerging trends in FX
advisory function and
Technology driven
transformation of the function
– trade services & treasury
management, bots driven
market information
dissemination, hedge ratio
monitoring and hedge triggers,
etc.,)

10 ➢ Risk Management, Regulations Students will understand the need Will be shared later.
and Controls for managing risks beyond the
• Treasury and Investment market risks in the dealing room.
policy Thus operational, regulatory,
• Risk Analysis and controls legal, etc., will need to be
16
 • Structure: Front office, Back managed with proper policies,
office and mid office processes and controls.
• Accounting, valuation and
exposure norms Students will need to come
• Role of information technology prepared with basic understanding
in treasury management of various risks mentioned here
• Operational risk and mitigants for a detailed discussion with
– operation risk framework examples.
with risk grading and reporting
• Risk of fraud – case studies Case discussions on past large
and discussion on past large losses in bank dealing rooms will
instances of risk reporting be helpful for the students to
suppressions understand this module.
• Internal & external audit,
Regulatory supervision

** Faculty should endeavor to provide as much detail on session-wise topics / readings in the suggested
format.

Evaluation Components

✓ Components ✓ Weightage

Two quizzes (10 each) 30

Group Projects 30
Final Exam 40

Online Course Management (moodle)/course web

This outline may be filled after reading the MBA Instructors Manual

Reference Document

Aim & Objectives of the Post Graduate Programme: The overall goal of the MBA is to produce world-
class management professionals with a global perspective who are competent to lead and transform
organisations anywhere in the world. . Our students would:

Learning Goals
1. Possess state-of-the-art knowledge of theory and practice in all functional fields of
management and the ability to think critically, and apply them to diagnose and find solutions
to organisational problems, even in unfamiliar or uncertain situations

Learning Objectives

17
 Our students would be able to :
a. Attain theoretical and practical understanding of the functions and processes involved in managing an
organization
b. Develop critical thinking ability through analytical treatment of important contemporary problems
and issues
c. Acquire the ability to design approaches and use relevant models and tools to analyse situations and
solve practical business problems
d. Acquire the ability to persuasively recommend managerial solutions issuing from the process of
decision analysis applied on managerial situation/s
e. Acquire the ability to present a structured analysis of managerial situation/s using various strands of
interpretations

2. Develop and apply ethical values to analyse and solve organisational problems
Learning Objectives
Our students would be able to :
a. Understand the realm of ethics ( morality, values, ethos) and its importance to society
b. Understand the issues of ethical importance specific to the domain of business
c. Understand the role of manager/leader as an ethical individual and as a professional
d. Understand the need and importance of institutionalizing Ethics within the organization
e. Develop an understanding of corporation’s duty to all the stakeholders
f. Acquire the ability to appreciate the necessity of ethical practices for sustainable growth and
profitability

3. Develop a global perspective that is built upon knowledge of economic, technological, regulatory
and political forces that are shaping a new international order in the 21 st century
Learning Objectives
Our students would be able to :
a. Familiarize with global factors/phenomenon affecting the business scenario
b. Acquire the ability to understand and comprehend issues and practices prevalent in the international
arena
c. Develop competence in analysing changes in international and domestic environment
d. Respond to such changes through appropriate organizational decisions

4. Develop their capacity to articulate their thinking and ideas through verbal and written
communications, at a professional (manager/consultant) level and to deliver the same
Learning Objectives
Our students would be able to :
a. Acquire the ability to organize the thought process
b. Demonstrate understanding of main points
c. Acquire the ability to articulate the findings in a coherent and structured format to build a managerial
case analysis
d. Acquire the ability to customize messages/ solutions for diverse managerial situations
e. Acquire the ability to deliver a professional quality formal presentation by exhibiting clarity and
appropriate pace, coherent structure, credibility, effective use of visual aids, appropriate body
language

5. Be able to appreciate the dynamics of Information Technology acquisition and absorption by

present day business organizations and develop ability to use modern IT enabled decision support
tools for improved understanding of business

Learning Objectives
Our students would be able to :
a. Acquire the ability to learn various IT-enabled analytical tools , techniques and methods for solving
problems
b. Acquire familiarity of methods for comparing different state-of-the-art computing platforms
c. Acquire the ability to use appropriate analytical techniques in a case setting to identify possibilities of
deploying Information Technology for competitive advantage
18
 Learning Objectives
d. Acquire competence in use of IT tools in modelling managerial decision making situations

6. Acquire capacity to apply their professional knowledge and skills to diagnose and resolve business
problems in actual organizational settings
Learning Objectives
Our students would be able to :
a. Acquire the ability to identify organizational problems in both real life settings and through simulated
situations
b. Acquire the ability to interpret and apply knowledge of concepts
c. Acquire the ability to design appropriate responses to solve identified problems by using appropriate
tools, techniques & framework taught in courses
d. Acquire the ability to apply structured analytical thinking to solve an organizational problem

7. Acquire the leadership qualities and the competence needed for leading organizational change
Learning Objectives
Our students would be able to :
a. Understand the theories of leadership
b. Understand the theories of organizational change
c. Demonstrate understanding of complex human issues arising from the implementation of change
d. Understand individuals’ and groups’ behavior and motivation

Course Mapping (based on earlier data)

Goal 1 Goal 2 Goal 3 Goal 4 Goal 5 Goal 6 Goal 7
Acquiring Acquiring Global Technological Leadership
Critical Thinking Ability to Articulate Problem Solving
Ethical Values Perspective Competencies Qualities

Corporate Financial Human

Marketing Managerial Operations Organisational
Reporting and Resource Risk Management
Management I Communication –I Research Behaviour- II
Analysis Management

Information
Marketing Environment & Managerial Strategic
Business Ethics Technology
Management I Development Communication –II Management
and Systems

Marketing Organizational
Microeconomics
Management II Behaviour- I
Statistics for
Management
Operations Research
Cost Management
Corporate Finance

Production and
Operations
Management

Indian Social
Structure
India and the World
Economy

19
Indian Legal System

Macroeconomics
Indian Economic and
Political History

20
 Hypothetical Example of mapping for Operations Research with Programme Level Goals

Goal 1 Goal 2 Goal 3 Goal 4 Goal 5 Goal 6 Goal 7

Critical Thinking Acquiring Acquiring Global Ability to Technological Problem Leadership
Ethical Values Perspective Articulate Competencies Solving Qualities
a, b, c, d, e a, b ,c ,d, e ,f a, b, c, d, a, b, c, d, e a, b, c, d, a, b, c, d, a, b, c, d,
Operations
Operations Research
Research
(a,b,c,d,e)
(a,b,c,)

Please note,

➢ This is hypothetically done just to provide an example

➢ A course can match multiple Goals

➢ A course might not meet all the objectives, please feel free to identify the objectives that a course
might meet

10. Strategic Planning and Human Resource Management (HR-221)

(Instructor : Prof. Randhir Kumar)

Instructor Contact details: [email protected]

M-207, NAB, Ext. 2055

Course Objectives:
• Understand the criticality and inter-linkages of key HRM sub-systems and influence of HR decisions on
performance (HPWS).
• Understand the role and implication of HR in mergers and acquisitions, joint ventures, business turnaround,
outsourcing and vendor management.
• Learn the applications of different tools and techniques for HR planning to achieve business goals (e.g.
business expansion, downsizing and retaining employees).

Key textbook:
• Boxall, P., & Purcell, J. (2015). Strategy and Human Resource Management, 3rd Edition. Palgrave
Macmillan. New Delhi.
• Pulak Das (2011) Strategic Human Resource Management: A Resource Driven Perspective. Cengage
Learning India.

Pedagogy:
• Case discussion supplemented by presentations
• In class group assignment (for discussion purpose)
• Guest lectures from industry (if feasible)
• Summarising relevant research articles in SHRM (by the instructor)
• Short notes on key concepts (to be circulated by the instructor)

21
Evaluation:
Serial Number Evaluation component Weightage
1 End-term Exam 50%
2 Mid-term Exam (Quiz based) 25%
3 Group presentation 25%

Registration cap: 40 students

Session plan

Session Topic Case Reading

Contextualising Human Resource Strategy – General Framework
1 Understanding SHRM The Evaluation from Managing Human Capital for
Traditional to a Modern Strategic Advantage: Three
Management of Human Challenges, Cassandra Frangos,
Resources in Nestle HBR
Peru, ECCH
They’re Not Employees, They’re
People, Peter F. Drucker, HBR
2 Contextualising Human Delhi Metro Rail Chapter 1 & 2 of Boxall, P., &
Resource Strategy – Corporation. HBSP Purcell, J. (2015)
Building competitive Cabrera, Elizabeth F & Bonache,
advantage through people Jaime, An Expert HR System for
Aligning Organizational Culture &
Strategy.

Bye Bye Human Resources. People

Matters

3 Human Resources – An Royal Bank of ScotlandCh. 3 & 4 [Boxall, P., & Purcell, J.
Investment Perspective Group: The Human (2015).
Capital Strategy. HBSPKaplan. Robert S. & Norton David
P., Aligning Internal Process and
Learning and Growth Strategies:
Integrated Strategic Themes. HBSP
Chapters
HR in Mergers & Acquisitions, Joint Ventures and outsourcing, Turnaround Management
4 “Winning Hearts and Ch. 5, 6 & 10 [Boxall, P., &
Strategy of Merger and Minds of Workers and Purcell, J. (2015)]
Acquisition and its HR the Trade Union"
implications/HR Role in PepsiCo acquires Duke Human Due Diligence, David
Mergers & & Sons Ltd, India. IIMA Harding and Ted Rouse, HBR
Acquisitions

7 Strategy of Joint Venture SINGCHINA tire PTE How to Change a Culture: Lessons
and Human Resource Ltd: Managing an From NUMMI, MIT Solan
Challenge International Joint Management Review
Venture
8 Strategic use of Branded with Ch.5 [Boxall, P., & Purcell, J.
outsourcing: Vendor Allegations: Labour (2015)].
management in Global Rights Violation in the
Production Networks Supply Chain. IIMA
9 Business Turnaround and Turnaround Excellence: The Job No CEO Should Delegate,
HR The Tinplate Company Larry Bossidy, HBR
of India Limited (TCIL),
IIMA
10 Revision & Reflection on Discussion for mid-term exam
learnings
22
Internal alignment of HRM sub-components: HR as a tool for achieving business goals
11 Planning to Downsize or The Royal Harbour Ch. 9 [Boxall, P., & Purcell, J.
Rightsize? Resort & Spa. HBSP (2015). Strategy and Human
Resource Management. Palgrave
Macmillan. New Delhi].
12 Planning compensation WrapitUp: Developing a The Darwinian Workplace. HBR
strategy for expanding New Compensation Plan.
business outreach HBS
13 Sales HR Ulaganath Madan. IIMA Are Sales Incentives Becoming
Obsolete?. HBR
14 & 15 Aligning L&D with Building a - Ch. 7 & 8 [Boxall, P., & Purcell, J.
Strategy Developmental Culture: (2015).
The Birth of Deloitte - Jay A. Conger & Robert M.
University, HBSP Fulmer, Developing your leadership
16 & 17 Balanced score card method Measuring the Results of Measuring the Contribution of
of organizational the HR Function: The Human Capital (Part One), David P.
performance Case of the Société de Norton
transport de Montréal's
Staffing and Workforce
Planning Division
18 & 19 Group presentation and Each group will be Both the write-up and presentation
assignment review provided with a task will be evaluated
20 Revision and key take-away Conclusion and Wrapping Up
from the course

Course References (Books):

1. Contemporary Issues in human resource management: Gaining competitive advantage- Chris
Brewster, Lorraine Carey, Peter Dowling, Peter Grobler, Peter Holland and Surette Warnich,
Oxford. 2003, 2nd edition
2. Strategy and human resource management - J.E. Butler, G.R. Ferris & N.K. Napier. South
Western Publishing Co. 1991
3. Managing Human Resources in Cross-border alliances- Randal S. Schuller, Susan E. Jackson,
and Yadong Luo, Routledge, 2004
4. Strategic Human Resource Management, Second Edition by Charles R. Greer, Pearson Custom
Publishing, 2003
5. Strategic Performance Management, Leveraging and measuring your intangible value drivers,
Bernard Marr, Elsevier Ltd., 2006
6. Turnaround Excellence-Six Studies of Corporate Renewal, Sunil K. Maheshwari, Penguin
Portfolio, 2007
7. Strategic Human Resources – Frameworks for General Managers, James N. Baron, David M.
Kreps, Wiley, 2013, 3rd edition

References (Research articles):

• Wright, P. M., & Ulrich, M. D. (2017). A road well traveled: The past, present, and future journey
of strategic human resource management. Annual Review of Organizational Psychology and
Organizational Behavior, 4, 45-65.
• Delery, J. E., & Roumpi, D. (2017). Strategic human resource management, human capital and
competitive advantage: is the field going in circles?. Human Resource Management Journal, 27(1),
1-21.
• Martín Alcázar, F., Miguel Romero Fernández, P., & Sánchez Gardey, G. (2013). Workforce
diversity in strategic human resource management models: A critical review of the literature and
implications for future research. Cross Cultural Management: An International Journal, 20(1), 39-
49.

23
 • Kehoe, R. R., & Wright, P. M. (2013). The impact of high-performance human resource practices
on employees’ attitudes and behaviors. Journal of management, 39(2), 366-391.
• Boxall, P., & Macky, K. (2009). Research and theory on high‐performance work systems:
progressing the high‐involvement stream. Human Resource Management Journal, 19(1), 3-23.
• Jackson, S. E., Schuler, R. S., & Jiang, K. (2014). An aspirational framework for strategic human
resource management. The Academy of Management Annals, 8(1), 1-56.
• Larkin, I., Pierce, L., & Gino, F. (2012). The psychological costs of pay‐for‐performance:
Implications for the strategic compensation of employees. Strategic Management Journal, 33(10),
1194-1214.
• Yanadori, Y., & Marler, J. H. (2006). Compensation strategy: does business strategy influence
compensation in high‐technology firms?. Strategic Management Journal, 27(6), 559-570.
• Delery, J. E., & Doty, D. H. (1996). Modes of theorizing in strategic human resource management:
Tests of universalistic, contingency, and configurational performance predictions. Academy of
management Journal, 39(4), 802-835.
• Balkin, D. B., & Gomez‐Mejia, L. R. (1990). Matching compensation and organizational
strategies. Strategic management journal, 11(2), 153-169.
• Miles, R. E., Snow, C. C., Meyer, A. D., & Coleman, H. J. (1978). Organizational strategy,
structure and process. Academy of management review, 3(3), 546-562.
• Wernerfelt, B. (1984). A resource‐based view of the firm. Strategic management journal, 5(2), 171-
180.
• Grant, R. M. (1996). Toward a knowledge‐based theory of the firm. Strategic management
journal, 17(S2), 109-122.
• Amit, R., & Schoemaker, P. J. (1993). Strategic assets and organizational rent. Strategic
management journal, 14(1), 33-46.
• Wright, P. M., & McMahan, G. C. (1992). Theoretical perspectives for strategic human resource
management. Journal of management, 18(2), 295-320.
• Baird, L., & Meshoulam, I. (1988). Managing two fits of strategic human resource
management. Academy of Management review, 13(1), 116-128.
• Schuler, R. S. (1989). Strategic human resource management and industrial relations. Human
relations, 42(2), 157-184.
• Delery, J. E., & Doty, D. H. (1996). Modes of theorizing in strategic human resource management:
Tests of universalistic, contingency, and configurational performance predictions. Academy of
management Journal, 39(4), 802-835.
• Lado, A. A., & Wilson, M. C. (1994). Human resource systems and sustained competitive
advantage: A competency-based perspective. Academy of management review, 19(4), 699-727.

11. Management Consulting (HR-xxx)

Course Outline | 2020

Dr. Avantika Tomar

[PhD, IIM Calcutta (2013); Associate Partner, EY-Parthenon]

Faculty Contact Details: Dr. Avantika Tomar

24
Email: [email protected];
[email protected]

Phone: +91 63741 77604

Summary of the Course

This course introduces students to the key characteristics of management consulting industry,
major segments within consulting and project work of management consultants. The course
provides an overview of professional services firms along with their business models and
essential people practices.

The course also covers management consultants, the key skills required by them and what
makes people thrive in consulting as a profession. Client relationships and the value of building
long-term thought partnership with clients is discussed as a key success measure. Along with
the history of management consulting, and current competitor landscape, the course will also
include trends impacting the future of consulting, to give students a complete understanding of
the industry. This subject will also take a critical look at the responsibilities and ethics of
management consulting firms, by discussing pivotal incidents in history and more recent
scandals and controversies in the area.

Lastly, the course aims to consider methods of consultancy project design and management,
integrated problem-solving and application of the principles of design thinking. Students will be
required to apply the course content to finding potential solutions to business problems through
deep analysis and structuring. The course will simulate management consulting environment
through case study discussions (using real-life examples), individual and group assignments, all
of which centre around consulting projects.

Student Learning Outcomes

By the end of this course, the students should be able to:

• explain key characteristics of consulting as an industry, and the values underlying

different segments of management consulting and different traits of management
consultants
• demonstrate (through case study discussions, individual and group assignments)
approaches for creating, developing, extending and transforming organisations, and
determine the key requirements to deliver consulting projects related to them

25
 • strengthen their problem solving and analysis skills, and get exposed to working in
‘consulting teams’
• review different perspectives on management consulting, through interactions with
senior leaders within consulting firms, as well as their client counterparts (part of the
speaker series)
• identify challenges, interdependencies and ethical concerns involved in management
consulting engagements

Pedagogy

This course requires considerable amounts of practical business thinking and problem-solving
skills. To help students appreciate the work done by management consultants and take the
most out of this course, the instructor would discuss several real-life case studies and projects
from the global organisations that she has worked with, as well as using other published cases
and thought papers.

The course will be taught using a combination of pedagogical tools such as lectures on
theoretical concepts, case references, consulting-style projects (both individual and group),
problem-solving activities to simulate tasks conducted by consultants, and through speaker
series with leading providers and consumers of management consulting.

In addition to the course instructor (Management Consultant for ~9 years), HRM Group faculty
members will be invited for 3 sessions (Session #2, #9, #14) to bring in the HR considerations in
consulting as well as the unique flavour of consulting by academics, an aspect often
appreciated by corporates for specific types of engagements.

Assessment Details

Assessment Task Weighting Format Details

Individual Reflections 20% 3 pages (max) Word Based on interviews
article / essay using with 3 consultants,
self-reflection write an article on
‘Why do I want to be
a management
consultant?’
Individual Presentation 30% 10 (max) Choose from one of
PowerPoint Slides the freelance
consulting cases that
the instructor will
provide, and submit a
‘client-ready’
presentation
Group Consulting Project 50% Team Presentation Consulting project for
and report an organisation of the
submission (any group’s choice. The
format based on instructor would
Group’s preference – encourage students
Word, PP, video, to do this pro-bono
weblink, podcast work for NGOs, start-
etc.) ups and companies in
the MSME sector
• Additional details to be shared in Session 1

26
Course Schedule

Session 1: Professional Services Firms (PSFs)

• Course Introduction
o Getting to know each other
o Introduction to the course – Session plan, assessment and assignment details, team
formation etc.
o How to get the most out of this course

• Key features that make PSFs sector so unique (rise of knowledge-based economy)
• Various sub-sectors within PSFs sector (law, architecture, design etc.)
• Operating models and Pricing strategies (fixed price, time-based pricing, output-linked etc.)

Session 2: HR Management in PSFs

• Study of HR Practices in PSFs / Consulting Firms
• Organisational design (partnership models, and other key people practices – ‘Up or Out’,
deferred compensation etc.)
• Case Study: Egon Zehnder

Session 3: Demystifying Management Consulting

• What is management consulting? More importantly, what it’s not!
• History and evolution of management consulting
• Current global landscape of management consulting (size of the sector, different markets
– developing, emerging etc.)

Session 4: Segments within Management Consulting

• Strategy, Organisational, Technology, Operations, Risk and Financial (Tax, Audit)
• Competitor Landscape - Different firms (global and boutique) in each segment – MBB, Big 4,
HR, Tech and Financial Consulting Firms etc. – Value proposition and key differentiators
• Sample projects for each of the identified segments (Instructor experience across
different firms, and countries)
• Sectoral and regional expertise within management consulting
• Key partnerships and affiliations

Session 5: Fieldwork for Group Consulting Project Session 6:

Management Consultants
• Skills that consulting firms look for (technical, cognitive, behavioural)
• Work-life balance
• Persona types / traits in people who thrive as management consultants – Must haves and good
to haves to be a great consultant
• Success factors for consultants – How is performance of a consultant measured? Typical
KPIs and success measures

Session 7: Client-consultant relationship

• Client relationship building – Why it becomes more and more critical as you progress in this
profession?
• Importance of being a trusted advisor and thought partner
• Client confidentiality and ethical issues (to be discussed again in Session 12) – handling client
data, providing independent advice, corporate politics (doing the right thing by the client vs. the
client organisation)

27
Session 8: Fieldwork for Group Consulting Project

Session 9: Management Consulting in Action – Case Studies

• HR and Organisational Consulting

o Organisational restructuring and delayering – [Large Indian Pharmaceutical /
Middle East Public Sector Organisation]

• Strategy Consulting
o Revenue diversification (Business-line / Market) – TBC [Indian Food Delivery Giant
/ Global Education Investor]

(Case studies will be uploaded for students to read-through and prepare before the class. The students will
be expected to understand the problem statement, develop a framework and approach to addressing the
problem, recommend high-level solutions and insights for the client based on case facts)

Session 10: Management Consulting in Action (Case Study)

• Operations Consulting (Case Study)

o Cost optimisation – [Australian Sports Organisation / Australian Wealth
Management Company]

(A case study will be uploaded for students to read-through and prepare before the class. The students will
be expected to understand the problem statement, develop a framework and approach to addressing the
problem, recommend high-level solutions and insights for the client based on case facts)

• Recap and Q&A

o Summary and key insights from the 3 case studies o
Doubt-clearing session on content covered so far o
Q&A on individual and group assignments

Session 11: Fieldwork for Group Consulting Project Session 12:

Global scandals in management consulting

• Collapse of Enron
• Financial Fraud
o Insider trading and Rajat Gupta’s fall from grace
o 2008 Financial Crisis
o Audit Bans (Yes Bank – EY, Satyam – PwC, IL&FS – Deloitte, KPMG)
• Conflict of Interest Pitfalls
o Guinness and Bain Stock Market Manipulation Scandal
o South Africa and McKinsey Corruption Scandal
o Angola, McKinsey, BCG, PwC Corruption Scandals
• Current controversies related to consulting giants
o UK Covid-19 Consulting Spend
o Saudi Arabia’s Vision 2030

Session 13: Challenges faced by consulting firms

• Changing client behaviours and expectations
• Rising competition from traditional and new players
• Driving ‘Impact’
o Real world doesn’t run on excels and powerpoints
o Scale of ‘impact’ is more important than what you are doing → The ‘Cobra
Effect’, emphasis on efficiency, model that often ignores unintended side- effects,
analysis paralysis

4
 • Diversity, or the lack of it

Session 14: Current consulting work in India – Speaker Series

• Strategy Project – [BCG Partner / Principal]
• Public Sector Transformation – [EY Partner / Director]
• HR Strategy and Practice Changes – [Mercer Partner / Principal]
• Consulting by Academics – [HRM Group Faculty]

(In this session, the instructor will invite current senior consultants from reputed firms to discuss current projects.
The Partners / Principals will share the end-to-end journey of a consulting project – RFP to pitch to delivery;
content, teaming and client outcomes)

Session 15: The ‘other’ side of management consulting – Speaker Series

• [The Good], and
• [The Unsatisfactory]

(In this session, the instructor will invite corporate executives who have been consumers of consulting in the past –
they will share their experiences (positive and otherwise) and their reflections on how consultants can work better)

Session 16: The future of management consulting

• Consolidation of consulting firms (Big-4 acquiring strategy firms)
• Large scale transformations and RTS / Fees at risk models
• Balance between the four functions of consulting – Information, Expertise, Insight, and Execution

Session 17: Team Presentations | Part A

• Presentation, Q&A and Feedback for each team

Session 18: Team Presentations | Part B

• Presentation, Q&A and Feedback for each team

Session 19: Getting selected in management consulting firms

• Interview / Recruitment Process
• CV Writing
• Personals and Case Study Prep
• My personal experience – on both sides of the table

Session 20: Course Wrap-up

• Synthesis and course summary
• Student feedback on course content and instructor

Suggested Books and Readings

While there is no assigned textbook for this course, the student will benefit from referring to the
following books and readings:

• Garrette, B., Phelps, C. & Sibony, O. 2018 Cracked it! How to solve big problems and sell
solutions like top strategy consultants. Palgrave
• O’Mahoney, J. and Markham, C. (2013) Management Consultancy, 2nd ed. Oxford
29 | P a g e
 University Press
• Armbruester, T. (2006) The Economics and Sociology of Management Consulting.
Cambridge: Cambridge University Press.
5
• Dawson, R. (2005), Developing Knowledge-Based Client Relationships, 2nd ed.
Amsterdam: Elsevier.
• Gibbs, D. (2010), Management Consulting: A Guide for Students. Cengage Learning.
• Wickham, P. and Wickham, L. (2008), Management Consulting: Delivering an Effective Project.
Essex: Pearson Education Ltd.

About the instructor

Dr. Avantika Tomar works at EY-Parthenon as an Associate Partner, in their education sector
practice. She has management consulting experience in India, Australia, Saudi Arabia and UK. Prior to
EY-Parthenon, she has held several strategy and organisational consulting roles in the Boston
Consulting Group, Woolworths, Westpac, and Mercer, where she was the Global Lead for their Future
of Work practice.

After 7 years of living in Sydney and London, Avantika has recently relocated to India to follow her
passion for the education sector. Her focus areas are K-12 and Higher-education, and she has a
personal ambition to work on the policy related transformation that the sector needs, especially in
her markets – India, Middle East, SE Asia and Africa.

Avantika holds a PhD from IIM Calcutta and has been teaching, as a Visiting-Professor, at
prestigious universities in Australia (UNSW, UTS) and India (IIM Trichy, IIT Kharagpur, MDI
Gurgaon, FMS Delhi, SPJIMR among many others). As an academic, she focuses on application-
based, practical business learning that can be leveraged in the real world. She provides as much
support as required by her students to become high-performing professionals and helps them prepare
for successful careers.

12. International Marketing (MK-216)

(Instructor : Dr. Ashish K. Banerjee)

International Marketing, MK-216 : 2nd Year Course

Faculty : Dr. Ashish K. Banerjee
Professor of Marketing

Objective: As global economic growth occurs, understanding markets in different countries across the world becomes
increasingly important. International Marketing addresses global issues and deals with concepts relevant to all
international marketers. All organizations are affected by global competition. International Marketing emphasizes the
strategic implications of global competition. The economic, political and social changes that have occurred in the last
decade have dramatically altered the landscape of global business. International Marketing studies, in depth, how
these changes have been dealt with by successful companies across the globe over the last few decades.

Teaching Methodology: Textual Material, articles from referred Journals and contemporary research material
provide the conceptual framework and foundation Case Studies and Group-Project Work focus in application.

30 | P a g e
Grading Method: The final grade will be awarded based on the following components: (equal weightage)

a) project work and presentation in groups

b) case analysis and presentation in groups
c) Quiz (individual)
d) Viva

Course Outline

• The scope and challenge of International Marketing

• The Dynamic Environment of International Trade
• The Cultural Environment of Global Markets
• Business Customer in Global Markets
• The Political Environment : A Critical Concern
• The International Legal Environment : Playing By Rules
• Developing a Global Vision
• Emerging Markets
• Multinational Market Regions and Market Groups
• Developing Global Marketing Strategies.
• Products and Services for Customers and for Business: Global Issues
• International Marketing Channels
• Exporting and Logistics: Special Issues for Business
• Integrated Marketing Communications and International Advertising
• Personal selling and sales Management: Global Issues
• Pricing for International Markets
• Implementing global Marketing Strategies: Negotiating with International Customers, Partners and Regulators

Text Books: International Marketing: Philip R. Cateora & John L. Graham

McGraw Hill Higher Education
International Marketing: Analysis + Strategy Sak Onkvisit and John J. Shaw
Prentice Hall

Both the above books will be provided as course materials to each student.

Both credit and non-credit students can opt for this course.

There is no restriction on no. of students who can register for this course.

• Besides IIMC, where the faculty has been offering this course for the last 14 years, he has been invited by
premier Business Schools in India and abroad of offer this course in the 2 nd year…. These include IIMB,
XIMB, Goa Institute of Management, IMI Delhi, Calcutta University, IISWBM, NIMC etc.

13. Managing Luxury Business (MK-260)

Managing Luxury Business

Prof. Ashok Som ([email protected]) and Prof. Prasanth Mishra ([email protected])
Note: This course is an elective course and as the name suggests focuses only on the Luxury
Industry.

Objectives: The world of the luxury business is being transformed. The luxury industry primarily originates from
France and Italy but as the world is becoming ‘borderless’, luxury houses are being corporatized. The local luxury
31 | P a g e
houses are being transformed to global corporations as they start competing across the world and not only in their
home markets, Consolidation through mergers and acquisitions, distribution through global retail networks are the
only way to build multi-brand conglomerates to reach size, scale and efficiency and reach wealthy consumers across
the globe.

As the luxury houses become global firms (to begin with we define them as MNCs) they like any other firms
encompasses any problem or opportunity, in the areas of finance, production, marketing, information technology, and
human resource management. This course draws from both the external and internal environment, and macro and
micro economies of the firm focused on the business of luxury. Hence it is both interdisciplinary and integrative.

Topics covered: The course will deal with the following issues (a) Introducing strategy tools and concepts
(b introducing the key players in the Luxury industry and their globalization strategies? Did role of the state play a
part in the evolution of the luxury industry? (d) organization of structures in the evolution of the luxury business? (e)
the role of culture in the creation and of the luxury business and its transformation during the democratization of the
luxury (e) as luxury companies move from family businesses to global corporations how do they ‘manage change’ in
this process? (f) How does one manage Talent in the Luxury industry? (g) is the lure of emerging markets in the
Luxury industry is here to stay? (h) Asia’s involvement in the growth of the luxury business (i) sustainable Luxury
and CSR Strategy

Teaching methods: The approach taken to deal with these queries will be managerially oriented. We will use a
combination of theory and case studies to probe your contextual familiarity, analytical abilities and debating skills. To
be an effective manager in an international context you have to be aware of your own orientations, your values while
learning to listen sensitively to others. This methodology will attempt to maximize your learning experience. In-class
discussions and exchanges will be a critical part of the course. Maximum benefit (both learning-wise and grade-wise)
can only be assured by your attending class prepared, the quality of your presentations, ready to listen to and debate
with your class members.

3| Teaching methods

The approach taken to deal with these queries will be managerially oriented. We will use a combination of theory and
case studies to probe your contextual familiarity, analytical abilities and debating skills. To be an effective manager in
an international context you have to be aware of your own orientations, your values while learning to listen sensitively
to others. This methodology will attempt to maximize your learning experience.

In-class discussions and exchanges will be a critical part of the course. Maximum benefit (both learning-wise and
grade-wise) can only be assured by your attending class prepared, the quality of your presentations, ready to listen to
and debate with your class members.

4| Evaluation and grading

COURSE REQUIREMENTS

• Class Participation & Attendance 25%

• Regular Group Work (5 member Group) 40%
• Individual Research Report 35%

Total 100%| Outline Session 1

Topic
Introduction to the Course:
Marketing Strategy Tools

32 | P a g e
 Session 2-3 Session 4

Topic Topic
MNCs, Globalization, Role of the State, Country of Origin Globalization and Luxury Business: The Actors
Case: The ’Invisible Hand’, De Beers, and
Case: Coach: To be or not to be Luxury?
Emerging Markets
Background Reading:
Technical Note (A): Overview of the Global
Luxury Industry

Session 5-6 Session 7-8

Topic Topic
Managing Multi-Brand Conglomerate Organizing International Operations and Expansion
Case: Rolex
Case: LVMH

Session 9 Session 10

Topic Topic
The People Factor Luxury & CSR

Case: In-Class Case Case: Estee Lauder

Background Reading: Technical Note (B):

Luxury Industry in Emerging Markets (India
& China)

Session 11 Session 12

Topic Topic
The Luxury Consumer Luxury Brand Management
Case: BMW
Case: Neiman Marcus

Session 13 Session 14

Topic Topic
Structure of the Luxury Organization Service in the Luxury Industry
Case: Plaza Athenee
Case: Gucci

Session 15 Session 16

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 Topic Topic
Luxury Retail Distribution Pricing of Luxury Products

Case: Armani Case: Chateau Margaux

Session 17 Session 18

Topic
Emerging Market and India
Topic
Designing and Managing CRM
Case: HiDesign
Case: Harra Entertainment
Background Reading: Technical Note (C):
Issues of Luxury Industry in Emerging
Markets

Session 19-20

Topic
Research Project
- 25 pages maximum (with exhibits, bibliography, 11
point font, 1.5 spacing)
- Report with examples, graphs, charts and frameworks
(used in class)
- Secondary sources such as website, annual report, work
experience, business press, database – Factiva;
Datamonitor etc
- The Report should integrate the readings, concepts and
the understandings from the course.
- Deadline for submission: 12:00 Midnight the day before
the 18th Session

6| Bibliography

Session 1
 Competition and Business Strategy in Historical Perspective (HBR Note # 9-798-010)

Reference Books(s)
Michel Chevalier & Gerald. Mazzalovo. (2013). Luxury Brand Management: A World of Privilege . Wiley.
Jean-Noel Kapferer, Vincent Bastian. (2013). The Luxury Strategy: Break the Rules of Marketing to Build
Luxury Brands. Kogan Page.
Michael Boroian & Alix De Poix (2009). India by Design: The Pursuit of Luxury and Fashion. Wiley.
Ashok Som (2009): International Management. McGrawHill, UK.

14. Competitive Marketing Strategy with Simulation (MK-263)

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INSTRUCTOR:
Professor Suren Sista, K-308, New Academic Block; Extn. 2112; [email protected]

INTRODUCTION
Marketing involves a complex web of activity aimed towards creating and delivering superior value to
customers, and in turn creating value for the firm. How well a firm’s custodians manage each activity
of this complex web of activity, and how well each of these are in sync with each other, has a very
strong bearing on how successful a firm is.

Marketing managers, on a daily basis, make decisions based on their understanding of the market.
These decisions get manifested through the various levers of the marketing mix among other
variables of import. Learning marketing through actual decision making about these variables would
help (future) decision makers learn invaluable lessons on issues involved in marketing decision
making, and help appreciate the complexity of Marketing. This would also help them understand how
theoretical concepts in Marketing manifest themselves in real-life scenarios.

This simulation course provides a risk-free platform for student teams to apply their cumulative
learning from Marketing courses in a competitive market scenario wherein they can test their ideas in
managing a firm and its brands.

COURSE FORMAT
This course will use a mix of lectures, discussions, and simulation (using the best-in-class marketing
strategy simulation), and student presentations.

COURSE EVALUATION
Evaluation components for this course are:
1) Class Participation 10%
2) Quizzes (Announced) (5 Nos.) 40%
3) Project (Group Activity) 50%

Project (Group Activity)

The group project in this course is the management of a firm in the simulation game by respective
student teams. This component will be evaluated on two counts – (i) performance in the simulation,
and (ii) learning from the simulation (captured in the form of three submissions structured around the
management of said firm and its brands.)

35 | P a g e
SESSION DETAILS:
The course will be spread over 20 classroom sessions of 90 minutes.
The two sessions for a week will be combined into one 180-minute session. Each session will include:
1. Lecture based discussion around a relevant topic from strategic marekting. Topics include,
a. Segmentation and Targeting strategy
b. Positioning strategy
c. Marketing mix strategy
d. Strategic marketing process
2. Briefing about the simulation and clarification of issues / doubts around the mechanics of
playing the simulation.
3. Detailed debrief of firm performance in each decision round of simulation
4. Discussion and guidance on team strategy.

EXPECTATIONS, GUIDELINES & PRACTICES:

Listed below are the expectations of participants, and some general guidelines and practices to be
followed for this course. These may be added to or modified during the course to enable smooth
conduct of the course.
1) It is expected that students will,
a. read prescribed material for a session,
b. contribute positively to all in-class activities (including discussions, presentations etc.),
and to their group in group activities,
c. be honest during quizzes, and submit original work for all submissions, whether these
are individual or group submissions,
d. maintain a level of in-class decorum befitting students of our institution.
2) In the event of academic misdemeanor, malpractice, or misconduct; including submitting
plagiarised, purchased, contracted, falsified assignments, submissions, or projects, and
cheating in a quiz or the exam; the relevant PGP rules will apply. The minimum penalty will
be a grade of zero on that particular submitted material, quiz, or exam.
3) Peer-evaluation may be used for Group activities. Peer evaluation may be used either as part
or whole of the evaluation, and may be used for one or more group assignment/submission.
4) Differently-abled students may freely approach the instructor about any accomodations that
they may require. The instructor will make all permissible accomodations with the advise of
the PGP Office.

15. Non-profit and Social Marketing (MK-264)

(Instructor : Prof. Koushiki Choudhury)

E-mail(s): [email protected]
Instructor(s): Koushiki Choudhury
Office: NAB K-306 (KC)

COURSE DESCRIPTION

This course introduces students to the challenges of marketing in the non-profit sector and is targeted to those who
would be associated at any point in their lives with social and environmental causes as well as social and non-profit

36 | P a g e
organizations in a professional or personal capacity. It is also targeted towards students who would be playing a role
in the corporate social responsibility strategies of their companies.

Social and nonprofit marketers need to comprehend and adapt marketing philosophy and practices to the special
threats and opportunities of the current marketing environment. This course covers the principles of planning,
execution and assessment of marketing with regards to social and nonprofit causes and organizations. The course will
examine the principles and practices of marketing in the social and nonprofit sector and the impact of these practices
on society and environment. In this class, students will learn from the perspective of social and non-profit
organisations how to develop a customer-centered organizational mindset; incorporate marketing activities into
organizational structures; understand target audience characteristics and wants; develop and launch new offerings;
achieve effective market segmentation, positioning, and branding; identify various elements of the marketing mix, and
evaluate effectiveness of marketing initiatives. The focus will be on issues associated with societal wellbeing and the
endeavours of social and non-profit organizations.

Course Learning Objectives

By the end of this course students should be able to achieve the following objectives:

• Explain the scope and boundaries of social and non-profit marketing and how it relates to other areas of
marketing

• Comprehend the characteristics of social cause ideas and how this makes marketing them substantially
different from commercial goods and services

• Recognize the key differences between marketing in a profit‐oriented corporate and a nonprofit
social environment.

• Demonstrate knowledge and understanding of the key elements/approaches to non‐

profit and social marketing

• Critically evaluate the role of marketing and the appropriateness of different approaches to marketing within
the Third Sector organisations

• Understand how effective social marketing campaigns achieve desired social objectives

• Critically evaluate, synthesize and leverage information so as to generate changes in behaviour that seek to
remedy a social cause

• Explore the environment faced by social and non-profit organizations in the context of external threats and
opportunities

37 | P a g e
 • Employ relevant theoretical frameworks available to social marketers to understand consumer motivations
and reasoning

Readings

The prescribed text for the course is:

Wymer, W. Knowles, P. and Gomes,R. Nonprofit Marketing: Marketing Management for Charitable and Non‐
governmental organisations, SAGE Publishers (Latest edition)
(Referred as WKG)

Additional reading

Principles and Practice of Social Marketing (2nd Ed): An International Perspective, Authors: Donovan, R & Henley,
N. Publishers: CUP

Strategic Marketing for Non Profit Organizations, Andreasen, Alan & Philip Kotler, Prentice Hall, NJ, (Latest
Edition)

Social Marketing: Influencing Behaviors for Good by Kotler, Philip and Lee, Nancy, Sage Publications

COURSE SCHEDULE

Sessions 1& 2 Introduction to nonprofit marketing;

Social Marketing’s fit with Marketing

Reading: WKG Chapter 1

Reading: Focusing the Concept of Social Marketing

Reading: Valuing the Cause Marketing Relationship

Case: American Legacy: Beyond the Truth Campaign

Sessions 3 &4 The Growth and development of non-profit marketing

Reading: WKG Chapter 2

Reading: Do Better at Doing Good

Reading: New Landscape for Nonprofits

Case: Population Services International: The Social Marketing Project in Bangladesh.

38 | P a g e
Sessions 5 &6 Social Marketing and Social Change

Reading: WKG Chapter 11

Reading: Profits for Nonprofits: Find a Corporate Partner

Reading: Rise of Cause-Related Marketing

Case: The Dannon Company: Marketing and Corporate Social Responsibility

Sessions 7 & 8 Setting the path of the nonprofit organization; Strategic marketing planning for non-profits

Reading: WKG Chapter 4

Reading: How the Arts Can Prosper Through Strategic Collaborations

Reading: Can Public Trust in Nonprofits and Governments Be Restored?

Case: Canadian Tire: Selecting a Social Marketing Program

Sessions 9 &10 Marketing to donors and volunteers

Reading: WKG Chapter 7, 10

Reading: Public's Trust in Nonprofit Organizations: The Role of Relationship Marketing and Management

Case: ParticipACTION: A Social Marketing Challenge to Halt Canada's Obesity Epidemic

Sessions 11&12 Cause related marketing and other collaborations with the business sector

Reading: WKG, Chapter 12

Reading: Mining Gold in Not-for-Profit Brands

Reading: Profits for Nonprofits: Find a Corporate Partner

Case: PSI: Social Marketing Clean Water

Sessions 13 & 14 Ethical dilemmas that may occur when marketing a social cause

Reading: WKG, Chapter 7

Reading: Altruism and Hedonism: A Review and Discussion of Recent Findings in the Marketing and Consumer
Behavior Literature

39 | P a g e
Case: The PCRA: Social Marketing Campaign for Petroleum Conservation

Sessions 15 & 16 Social Marketing and the Environment; working with the private sector

Reading: WKG Chapter 4, 8

Reading: Transferring "marketing knowledge" to the nonprofit sector

Case: Marine Stewardship Council

Sessions 17&18 Reasearch in nonprofit organistions

Reading: WKG, Chapter 3

Reading: How Social-Cause Marketing Affects Consumer Perceptions

Case: Homeless World Cup: Social Entrepreneurship, Cause Marketing, and a Partnership with Nike

Sessions 19 & 20 Public Media and Public Advocacy; Principles of Communication

and Promotion

Reading: WKG Chapter 5, 6

Reading: Note on Mobile HealthCare

Case: LifeSpan Inc.: Abbott Northwestern Hospital

Learning Activities
The course delivery will include lectures, case analysis, in-class exercises and assignments and classroom discussion.

Students are expected to complete all assigned readings prior to class, and to come prepared to participate. Class

participation will be evaluated at each class session. There is a specific textbook and a set of readings for the course.

However, additional readings and short cases may be assigned from time to time. Class sessions will emphasize case-

based learning, with lectures to highlight key frameworks and concepts. Finally students will be completing a group

project involving marketing in a non-profit/social setting that will allow them to draw on their learning and utilize the

concepts and frameworks covered in the course.

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Evaluation
Class Participation - 10%

Examination/Quiz - 40%

Case Analysis - 30%

Project - 20%

16. Information Visualization (MI-282)

(Instructor : Prof. Rahul Roy)

Programme: MBA
Name of the Course: Information Visualization
Core / Elective: Elective Cap (for Elective) 45
Credit: 1.5
Academic Year & Term: 2020-21, Term VI
Course Coordinator: Prof. Rahul Roy
Email: IIMC id: [email protected]

Instructor: Rahul Roy ( Sessions 1 – 10)

Affiliation: IIM Calcutta
Email: IIMC id: [email protected]

Introduction to Course /Course Description

Abundance of data has created enormous opportunities for decision makers to discover the story hidden within the
data that offers the opportunity to inspire, advise or enlighten. The critical skill needed is to visualize what the data is
trying to tell and author the unique story that ignites imagination and turns information into knowledge.
Data visualization has emerged as a field of study that makes it easy to recognize patterns and find exceptions while
interpreting the data at a faster pace. Stated in another way, information visualization defines a cognitive platform that
promotes reflections and conversations among managers, which in turn drives a better interpretation, shared
understanding, integration and coordination, problem formulation and solving, as well as decision and sense making.
In this, it combines knowledge culled from decades of practice and research on human perception with ability of
computers to crunch data and create compelling graphics. It allows access to challenging data sets, it allows
exploration, can be fun and provides useful information in an efficient way.
Course Objective and Key-takeaways from the course
In this course students will be taken beyond spreadsheets and presentations and taught how to create compelling data
visualizations. The coverage will challenge one with tasks of how to approach one’s data, how to make the most of
elements within data storytelling, and decide which visualizations best articulate the story. Emphasis is placed on the

41 | P a g e
identification of patterns, trends, and differences from datasets across categories, space, and time. Specifically, it will
enable a student to address the following questions:
• Which visualization make the insights stand out from otherwise chaotic and noisy data?
• What process can be followed to create effective visualization?
• Which software can one use to create the intended visualization?
• How can misuse and misrepresentations be avoided?

Programme Level Learning Goals (7)

2. Be able to appreciate the dynamics of Information Technology acquisition and absorption by present day business
organizations and develop ability to use modern IT enabled decision support tools for improved understanding of
business
Learning Goals
a. Acquire the ability to learn various IT-enabled analytical tools, techniques, and methods for solving problems
b. Acquire competence in use of IT tools in modelling managerial decision-making situations
International Components in your course (if any): NA
Pre-requisites: None
Required Text Book(s): None
Recommended Text Book(s)
1. Envisioning Information, Edward Tufte, Graphics Press USA
2. Information Visualization: Perception for Design, Colin Ware, Morgan Kaufmann
3. Good Charts: The HBR Guide to Making Smarter, More Persuasive Data Visualizations, Scott Berinato,
HARVARD BUSINESS REVIEW PRESS Boston, Massachusetts
Course Pack Distribution to students:
1. A Tour Through Visualization Zoo. Jeffrey Heer, Michael Bostock, and Vadim Ogievetsky. ACM Queue, May
2010. https://doi.org/10.1145/1794514.1805128.
2. Linear Thinking in a Nonlinear World. Bart de Langhe, Stefano Puntoni and Richard Larrick, Harvard Business
Review, May–June 2017.
3. Case: Nomis Solutions (A), HBSP CU106-PDF-ENG
4. Color wiki page on Parallel Universe. (http://newmediaabington.pbworks.com/w/page/66977432/
5. Subtleties of Color, Parts 1 – 6. Robert Simmon. Nasa Earth Observatory. 2013.
https://earthobservatory.nasa.gov/blogs/elegantfigures/
6. How the Rainbow Color Map Misleads. Robert Kosara, Eagereyes.org, July 2013.
https://eagereyes.org/basics/rainbow-color-map
7. How not to Lie with Visualization. Bernice E. Rogowitz, Lloyd A. Treinish, and Steve Bryson. Computers in
Physics 10, 268 (1996); doi: 10.1063/1.4822401 View online: https://doi.org/10.1063/1.4822401.
8. Graphical Perception: Theory, Experimentation, and Application to the Development of Graphical Methods.
William S. Cleveland and Robert McGill. Journal of the American Statistical Association. Vol. 79, No. 387 (Sep.,
1984), pp. 531-554
9. Quantitative Displays for Combining Time-Series and Part-to-Whole Relationships. Stephen Few. Visual
Business Intelligence Newsletter, January, February, and March 2011.
https://www.perceptualedge.com/articles/visual_business_intelligence/displays_for_combining_time-
series_and_part-to-whole.pdf
10. Stacked area chart vs. Line chart - The great debate, http://www.vizwiz.com/2012/10/stacked-area-chart-vs-line-
chart-great.html
11. What to consider when creating choropleth maps, https://blog.datawrapper.de/choroplethmaps/
12. How to choose stops for choropleth maps, https://academy.datawrapper.de/article/117-color-palette-for-your-map

42 | P a g e
13. When Maps Shouldn’t be Maps, http://www.ericson.net/content/2011/10/when-maps-shouldnt-be-maps/
14. The NYT’s Visual Election Outcome Explorer, How we made the interactive D3 decision tree. Mike Bostock.
https://source.opennews.org/articles/nyts-512-paths-white-house/
15. Muesli Ingredients Network. Moritz Stefaner. https://truth-and-beauty.net/projects/muesli-ingredient-network
16. Starting Simple - adding value to static visualization through simple interaction. Alan Dix & Geoffrey P Ellis.
AVI '98: Proceedings of the working conference on Advanced visual interfaces. May 1998, 124–134.
https://doi.org/10.1145/948496.948514.
17. Toward a deeper understanding of the role of interaction in information visualization. Ji Soo Yi; Youn ah Kang;
John Stasko; J.A. Jacko. IEEE Transactions on Visualization and Computer Graphics, vol. 13, no. 6, pp. 1224-
1231, Nov.-Dec. 2007, doi: 10.1109/TVCG.2007.70515.
18. The Visualization Trap. Neal J. Roese & Kathleen D. Vohs, Harvard Business Review. May 2010.
Technology enabled learning component for your course
The course will require students to work on the Tableau® software. One-year license, free for academic use, can be
downloaded from the site Tableau.com.

Session Plan
S No. Topic Intended learning outcome References
1 Purpose and process of ✓ Appreciate the role of information visualization in [1], [2]
information managerial decision making
visualization
2 Seeing charts in terms ✓ Understand how human eyes process visual signals to [4], [5] and [6]
of its elements perceive information and how the processing is moderated
by Attention and Color.
✓ Appreciate the concept of “visual channel” and how it
relates to visualization design
✓ Be able to produce effective color scales for different
types of information
3–4 Judging effectiveness ✓ Be able to evaluate the quality of graphs according to their [3], [6], [7]
of visualization expressiveness and effectiveness
✓ Inspect Accuracy, Discriminability, Salience, and
Separability, and their implications for design.
✓ Appreciate the advantages of filtering and grouping in
visualizing voluminous data
5–6 Designing ✓ Understand to distinguish types of datasets in terms of [8], [9], [10],
visualization based on structure and attributes and how that determines [11], [12], [13],
dataset type appropriateness of chart types [14], [15]
7–9 Putting Principles into ✓ Be able to choose the right type of graphs for a given data [16], [17]
Practice – Projects on set and problem
Effective Visualisation ✓ Be able to choose the right type of data transformation for
Design a given problem
✓ Appreciate how interaction extends the capabilities of
static visualizations and how multiple views can be
combined and how they support data analysis and
exploration
✓ Learn to create interactive dashboards for offering the big
picture
10 Avoiding misuse and ✓ Be able to identify likely pitfalls in visualization and avoid [18]
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 misrepresentations the same.

Evaluation Components
✓ Components ✓ Weightage
In-class and take-home assignments 60%
Project 40%

Online Course Management (moodle)/course web

This outline may be filled after reading the PGP Instructors Manual

17. Global Leadership (OB-241)

INDIAN INSTITUTE OF MANAGEMENT CALCUTTA MBA Term – 6 / CEMS-MIM (Term 2)

Session 2020-21
Global Leadership (Tentative outline)

Course coordinator Prof. Abhishek Goel

Office A-309 (A-Block, 2nd Floor)
Extn. 2040
Email [email protected]
Meeting time Mon-Fri – 1030 AM to 530 PM, (Appointment over email)

Introduction
This course offering is an outcome of requirements of CEMS-MIM program. Common goals of
IIMC and CEMS-MIM indicate development of a managerial/leadership mindset that is ready
to take on the challenges posed by multi-cultural environment. The primary concern of a
multicultural leader is to manage people in international settings and from different culture
while ensuring responsible behavior, sustainability openness and inclusivity.
The ability to work with people from different cultures has been found to be an important
predictor for team success in multicultural business environment. Those skilled in mitigating
such challenges are expected to stand a better chance in proving their mettle in the business
world. This course introduces the participants to the basics of what it takes to create a mindset
conducive to managing or leading across cultural boundaries. It would then build the
perspective to develop the necessary skills for managing and leading businesses in cross-
cultural context.
Keeping this in mind, the course is designed primarily to sensitize the participants towards, (i)
basic issues in deciphering, understanding and managing intricacies faced in interactions
among people from different cultures, and (ii) expose participants to management practices
and leadership qualities in major cultural clusters in the world.
The idea is to develop an attitude of understanding other people’s assumptions, beliefs and
values that are rooted in their own culture.
The requirements of managers form the bedrock of this course. Therefore, the course includes
tools such as cases from real business situations, simulations to drive home the need for
sensitization. Most of times we shall have data based discussions before we arrive at a more
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plausible conclusion. An open mind would help in better understanding the cases and
deciphering the learning(s) therein.

CEMS-MIM Objectives
CEMS-MIM specifies a few objectives that are to be attained in all courses of the program. The
five objectives are:
Internationalism: The course should consistently focus on international and multicultural
settings and challenges and promote internationalism as value, attitude and approach to
cultural, social and gender differences.

1|Page

Business Embeddedness: The course should engage corporate partners as guest speakers,
providers of “live cases” (real challenges put to the class for discussion/solution).
Responsible Citizenship: The course should challenge participants to discover, challenge and
develop their own values, attitudes and behavior, and to reflect on and take responsibility for
the broader environment in which their actions take place.
Reflective Critical Thinking: The course should employ a managerial decision-making approach
including reflecting on consequences of decisions and actions.
Comprehensive Leadership: Students should be able to reflect on their own strengths and
weaknesses, their values and behaviors, and how their actions as leaders impact other people,
organizations, society and the environment.
This course addresses all five objectives of the program. Session outline has session-wise fit
with these objectives.

Participant Profile
Participation in this course is open to all relevant student members. Some exposure to cross-
cultural context is desirable though not compulsory. Students from varied cultural
backgrounds are encouraged to join. Having a multicultural group coming together to discuss
cross-cultural issues is in itself an interesting and learning experience.

Pedagogy
The pedagogy for this course would involve a mix of readings, film watching, case studies,
group presentations, field exercises, guest speakers from industry, and in-class simulations to
highlight the need for and issues involved in understanding someone foreign or from a foreign
culture.

Instruction Philosophy
The coordinator believes that such subjects cannot be taught. They can only be learned with
individual effort to observe, explore, and distill own learning points. Learning can happen only
if people wish to experience and have an open mind conducive to exploration.

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The topic involved demands open discussions to share information about own assumptions
and at times look into ourselves. Therefore, this course would follow Socratic philosophy of
instruction to honour the spirit of the subject at hand. Instructor in this course would act as a
facilitator for raising issues and moderating their discussion. Meaningful class participation
would be encouraged.
Course Text
Text Book:
Since this course is based on the premise that people learn out of interest, it is difficult to
suggest a series of compulsory readings. A large part of texts and other reading material is
determined by enthusiasm of the class, direction of discussion, and questions with
participants. Hence, other articles and readings shall be assigned from time to time.

Module Outline

2|Page

This module outline is indicative. The module sequence may shift slightly or two modules may
run in parallel depending on the schedule of the week. Such minor adjustments are necessary
to keep smooth functioning of the course within the purview of institute schedule and rules.
Announcements will be made via email.

Module 1: Understanding basics (3 sessions)

Exploration Issue: What do I look for when I study cultures?
Part 1: The need for a Global Mindset, What does culture mean? (2 sessions)
Understanding different levels of culture
How does culture evolve? How to understand about cultures?
CEMS-MIM Objectives: 1, 5
Readings:
Book Chapter (Exploring Culture)
Journal of World Business articles (Javidan) on building a mindset

Part 2: The role of a global leader

Case Study: Wolfgang Keller at Koenigsbrau CEMS-MIM Objectives: 1, 3, 4, 5
Readings:
Kramer, M. R., Pfitzer, M. W., & Mahne, H. (2020). How Global Leaders Should Think About
Solving Our Biggest Problems. Harvard Business Review Digital Articles, 2–5.
Dewhurst, M., Harris, J. & Heywood, S. (2014). Next-generation global organizations.
McKinsey Quarterly, September 2014, 28-39.

Module 2: Experiencing differences (2 sessions) (Simulation)

Bafa-Bafa simulation (double session, to be announced by PGP office after registration)
CEMS-MIM Objectives: 1, 2, 3, 5

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Module 3: Challenge of building a Cross-cultural team (1 session)
Case Study: (Re)Building a Global Team: Tariq Khan at Tek CEMS-MIM Objectives: 1, 2, 4, 5
Readings:
Meyer, E. (2014). Navigating the cultural minefield. Harvard Business Review, May, 119-123.
Brett, J., Behfar, K., & Kern, M. C. (2006). Managing Multicultural Teams. Harvard Business
Review, 84(11), 84-91.
Neeley, T. (2015). Global teams that work. Harvard Business Review, October, 75-81.
Module 4: Agile leadership – Virtual teams (1 session)
Case Study: Managing a global team: Greg James at Sun Microsystems CEMS-MIM Objectives:
1, 2, 4, 5

3|Page

Readings:
Larson, B. Z., & Makarius, E. E. (2018). The Virtual Work Skills You Need -- Even If You Never
Work Remotely. Harvard Business Review Digital Articles, 1–5.
Edmondson, A. C. (2012). Teamwork On the Fly. Harvard Business Review, 90(4), 72-80.
Mortensen, M. (2015). A First-Time Manager's Guide to Leading Virtual Teams. Harvard
Business Review Digital Articles, 2-5.
Module 5: Culture’s influence on leadership (exposure to GLOBE studies) (2 sessions)
A presentation on culture of choice (by the group) and its impact on leadership in that culture.
What works there? Why? Do you think leaders will need to do things differently if they move
between cultural clusters?
You will be encouraged to bring in videos, your experiences, real-life evidence through
secondary sources, enactment of situations via short act, etc. Max time will be 20 - 25 minutes
each. The presentation will be graded. IN CLASS PRESENTATION.
Detailed Guidelines to be shared at a later date (during the course).
CEMS-MIM Objectives: 1 2, 3, 4, 5
Readings (in addition to GLOBE Studies material provided)
Cross, R., Taylor, S., & Zehner, D. (2018). Collaboration without Burnout. Harvard Business
Review, 96(4), 134–137.
Meyer, E. (2017). Being the Boss in Brussels, Boston, and Beijing: If You Want to Succeed, You’ll
Need to Adapt. Harvard Business Review, 95(4), 70–77.

Module 6: Leadership dilemma: Organizational Culture OR National Culture (2 sessions)

Exploration Issue: Balancing between organizational culture and national cultures: Impact on
practices Case Study1: Four Seasons goes to Paris

Case study 2: Andreas Keller in China CEMS-MIM Objectives: 1, 2, 3, 4

Readings:

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Detert, J. R., & Burris, E. R. (2016). Can Your Employees Really Speak Freely? (cover story).
Harvard Business Review, 94(1), 80-87.
Molinsky, A. (2013). Giving Feedback Across Cultures. Harvard Business Review Digital Articles,
2–4.
Meyer, E. (2014). How To Say “This Is Crap” In Different Cultures. Harvard Business Review
Digital Articles, 2–4.

4|Page

Module 7: Cross cultural negotiation (2 sessions) – Exercise - Simulation

Exploration Issue: How to win
Tripartite Negotiation game
(double session, to be announced by PGP office after registration, needs three classrooms)
CEMS-MIM Objectives: 1, 2, 3, 4, 5

Module 8: Deciding about global leadership roles (1 session)

Exploration Issue: How to find out what it means to be in the leadership role? What is the way
to succeed?
Case study: a) Learning to Learn: Michael Faye Goes to China
Learning to Lead: Antonio Scarsi takes command

Module 9: Being an expatriate (2 sessions)

Exploration Issue: What to do when you are posted abroad? CEMS-MIM Objectives: 1, 2, 3, 5
Case study 1: Joe Willis feels the heat in Thailand

Exploration issue: Adjusting to expat life and delivering results CEMS-MIM Objectives: 1, 2, 3, 5
Case study 2: Ellen Moore: Living and working in Korea
Readings:
IJHRM paper on expat problems and adjustment

Module 10: Special topic: Leaders vs Leaders

Corporates vs. Governments in International Context (1 session)
Exploration issue: Resolving conflicts with governments Case Study: Fiji vs FIJI
CEMS-MIM Objectives: 1, 2, 3, 4, 5

Module 11: Ethical and responsible behavior (2 sessions)

Exploration Issue: How to decide which path to take? Do I have a framework by now? When
will it be available to me?
Case Study 1: Lenhage AG: Ethical Dilemma Case Study 2: Inactive duty
Readings: TBA

Module 12: Integration (1 session)

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Wrap up of the course, integration, and way forward in cross-cultural life
CEMS-MIM Objectives: 2, 3, 4, 5

|Page

Buffer sessions for Guest Speakers: Two (02) sessions in mid-February will be used by Guest
Speakers. The past speakers have included Consul-Generals who have shared their experiences
and best practices to answer questions about making transition in a new country, leveraging
the existing organizational and host country resources for better output.
Some industry leaders with extensive international experience have also shared their
perspective on the changes that were required.
In sum, the speakers dive into their own life experiences and present what they have learnt.
Aim: To present Action – Reflection Cycles and the importance in leadership

Module 11: Individual Feedback on learning diary (or a Field Project)

Reflection has been found to be one of the cornerstones of successful careers. Feedback on
individual viewpoint is a compulsory component of the course. This is extremely important to
improve participants’ ability to reflect on their actions.
This year’s (2019-20) individual learning diary project will be about their experience in a
foreign land, the challenge they faced in assimilating, success or failure in assimilation with
local culture, and their discovery of what enabled or impeded their efforts.
This will be evaluated.
CEMS-MIM Objectives: 1, 2, 3, 4

Evaluation Criteria

TBD

Discussion questions for cases will be handed via google group/email for easy online access in
the previous week. Feel free to clarify doubts with the instructor.
*****

18. Revenue Management & Dynamic Pricing (OM-252)

Instructor : Prof. Preetam Basu (CC), Prof. Sumanta Basu

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 Course Name Revenue Management & Dynamic Pricing

Term PGP Term-VI (3 credit course)

Name of Course Prof. Preetam Basu

Coordinator

Name of the Instructor(s) Prof. Preetam Basu, Prof. Sumanta Basu

Objectives:
Revenue management is a process for capacity-constrained industries to maximize profitability by
allocating the right inventory to the right customers at the right price. A familiar example comes from the
airline industry, where tickets for the same flight may be sold at many different fares. One of the
distinguishing characteristics of revenue management is the use of analytical techniques derived from
management science to compete in complex and dynamic environments. It enables organizations to address
three basic categories of demand management decisions: structural, price and quantity decisions. Revenue
management is becoming increasingly important in retail, telecommunications, entertainment, financial
services, health care and manufacturing. The emphasis of this course will be on understanding the
modeling aspects and the related issues of revenue management and dynamic pricing strategies. Through a
combination of case studies, lectures, and problem solving techniques, we will review the main
methodologies and explore the application areas of revenue management in different industrial contexts.

Session Plan:
Topics

Sessio Instructor
n
1 Introduction to Revenue Management PB
Background and Context
Financial Impact of Revenue Management

2 Different Strategies of Revenue Management PB

Measuring Revenue Management Effectiveness
Revenue Optimization and Pricing Theory

3 Introduction to Airline Revenue Management PB

Market Segmentation with Differential Pricing
Tactics for Price Differentiation

4 Case Discussion (American Airlines Inc.) PB

Price Differentiation and Consumer Welfare
Industry Adopters beyond the Airlines

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 5 Case Discussion (Cambridge Software Corp) PB
Business Conditions Conducive to Revenue Management

6 Pricing with Constrained Supply SB

Variable Pricing in Action
7 Implementation of Revenue Management and Dynamic SB
Pricing on Supply Chain Management
Case: Right Price Consultant
8 Dynamic Pricing in Practice: A Marketing Perspective SB
Case: Hyrule Cinemas: Pricing Movies and Popcorn
9 Discussion of Pricing Principles in Practice SB
Case: Atlantic Computer – A Bundle of Pricing Options
10 Discussion on Bundle Pricing SB

11 Session for Project Discussion SB

12 Overbooking PB

13 Network Management PB
Concepts of Nesting
Network Management in Action
14 Case Discussion (Springfield Noreasters) PB
Analysis of Network Problems
Decentralized Network Control

15 Revenue Management in Indian Context Guest Speaker

16 Future Directions in Revenue Management Guest Speaker

17 Project Presentation on Applications of Revenue Management SB/PB

18 Project Presentation on Applications of Revenue Management SB/PB

19 Revenue Management and Dynamic Pricing: An SB

Implementation Perspective
Case: Container Transportation Corporation
20 Revenue Management and Dynamic Pricing: An SB
Implementation Perspective
Pricing Simulation: Universal Rental Car V2

PB: Prof. Preetam Basu, SB: Prof. Sumanta Basu

Text Book: Robert L. Phillips, Pricing and Revenue Optimization, Stanford Business Books, 2005.

Reference book: (1). Robert Cross, Revenue Management, Crown Publishing Group, 1997.
(2). Kalyan T. Talluri, Garrett J. van Ryzin, Theory and Practice of Revenue Management, Springer, 2004.

Pedagogy
The course would be conducted through lectures, case discussions and problem solving.
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Evaluation Method
In-Class Quiz: 10% Case Analysis: 30%, End Term: 50%, Project: 10%

19. Global Political Economy of the 21st Century (PP/EC-266)

Prof. Biju Paul Abraham (CC), Prof. Partha Ray

1. Course Title: Global Political Economy of the 21st Century (Cross

Listed Course – PPM and Economics)

1. Course Instructors:

a. Partha Ray (PR), Professor, Economics Group

b. Biju Paul Abraham (BPA), Professor, Public Policy and Management

Group

2. Offered for: Term VI

3. Course Objective: The course aims to expose students to contemporary

global economic developments and relate it to changes in the regional and

global political environment so that they gain a better perspective of the

current global, regional and national business environment. The primary

focus of the course will be on discussing the background and context of

global economic and political changes in different regions / countries of the

world that are of current concern. Its special emphasis is on the political

economy of the US, Europe, Japan and the BRICS countries.

4. Evaluation Procedure:

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 a. Two Announced Quizzes – each with 10 percent (one pre mid-term and

the other post mid-term)

b. One Mid-Term exam – 40 percent (one long and a few Short-answer

type questions)

c. One End-Term exam – 40 percent (one long and a few Short-answer

type questions)

5. Cap on Students enrolment – 60

6. Course Outline
No. Broad Heading Instructor Broad Outline
1 Introduction BPA & PR Introduction to Global Political Economy
2 Global Economic Trends PR Economic Forces behind Globalization –
and Challenges Long-term trends in Global Growth – Recent
protectionist tendencies in developed
countries
3 Politics of Globalization: BPA The post-war world order – Rise of US power
Trends and Challenges - the collapse of communism and the rise of
new powers in the International political
system – The challenge of integrating new
powers in the global political architecture

4 International Political BPA United Nations and its various Agencies;

Institutions Global Groups (G7 / G8 or G 20); the role of
the G7 during the Cold War, the co-option of
Russia and the formation of the G8; the rise of
the G-20 post-2008; legacy issues impeding
reform of global institutions.

5 International Economic PR Global Economic and Financial Architecture -

Institutions IMF, World Bank, WTO, BIS and global
financial regulatory bodies (such as FSB,
IOSCO)

6 The Euro Area PR The Euro-area crisis with special reference to

the Greek and the Irish economy

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No. Broad Heading Instructor Broad Outline
7 Politics of the European BPA The impact of the EU on global and regional
Union politics; Political impact of the Euro crisis;
political impact of the current refugee crisis on
the EU

8 Brexit PR & BPA Economic and Political factors leading to

Brexit; Its possible impact on EU and global
economy and polity
9 Asia – with special PR Emergence of China as an industrial
reference to China superpower – global imbalance - Chinese
Currency Misalignment as a strategy of trade
policy - Recent growth deceleration in China

10 Asia – with special BPA The ‘re-emergence’ of China and its impact on
reference to China global politics/institutions; China-
Mid –Term Examination
11 Economic Trends in Asia BPA Long-term stagnation in the Japanese
– Japan economy – bursting of asset price bubble –
emergence of quantitative easing – the
demographic crisis – Abenomics.
12 Political trends in Asia – BPA Japan in East Asia – Japan-China relations –
Japan Constitutional changes and its potential
impact
13 Economies in Middle East PR Middle East Economies - Exchange rate
and North Africa arrangement among GCC countries-
Economics of Oil Price and its recent collapse
– Resource Curse
14 Gulf Politics, Syria and the BPA Oil and Geopolitics in the Middle East and
Middle East Crisis North Africa; The impact of religious conflict
on Arab and Gulf geopolitics; Syria; the rise of
ISIS and its impact on MENA politics
15 Russia and CIS Countries PR Emergence of Russia as a 21st century
economic power and its recent downturns –
CIS countries & their economic potential

16 Russian and the Second BPA The downturn in US-Russian relations and its
Cold War impact on global politics; US-EU-Russia
relations – the impact of EU’s energy
dependency on Russia and Russia’s actions
in its neighbourhood – Ukraine
54 | P a g e
 No. Broad Heading Instructor Broad Outline

17 Latin American PR Latin American economies with special

Economies reference to Brazil (emergence of an
economic power house and its recent
downturns) and Argentina (Debt crisis and
default)

18 Latin American Politics BPA Brazil, Argentina, Venezuela and the re-
emergence of Latin America as an
independent actor since the 90s; Politics of
free trade in the Americas; Brazil and BRICS
19 South Africa PR & BPA Trends in South African economy and polity –
tow commodity prices and its impact – inter-
race relations and political trends
20 Summing -up BPA & PR Conclusions and summing-up

7. Text: Ravenhill John (2016): Global Political Economy, Fifth Edition (Oxford:
Oxford University Press).

8. Reference: Instructors will refer to relevant articles that will be distributed in the
class / uploaded in course-web.

20. Indian Defence and National Security Policy (PP-274)

Instructors : Mr.Sanjay Mitra IAS, Lt.General Satush Dua (Retd), CC: Prof. Biju Paul Abraham

Programme :PGP

Name of the Course: Indian Defence and National Security Policy

Core / Elective: Elective

Credit: 1.5 credit

Academic Year & Term: Term VI (Pre Mid-Term) 2020-21

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 Course Coordinator: Professor Biju Paul Abraham

Email: IIMC id: [email protected]

Instructor: Mr.Sanjay Mitra IAS.( Sessions: 8)

Affiliation: Defence Secretary, Government of India

Email: IIMC id:

Instructor: Lt.General Satush Dua (Retd) (Sessions: 2)

Affiliation: Former Chief of Integrated Defence Staff

Email: IIMC id:

Introduction to Course /Course Description

The course will provide an overview of India’s defence sector. Unlike all other major democracies, the general level of
discourse on our defence policies and imperatives, needs to expand in scope and depth of coverage. The quantum of
national resources presently deployed in this sector certainly warrants a closer, non-ideological, non-partisan view. Part
– I of the course will start with an overview of India’s strategic management process in the national security domain
and enable an understanding of our national interests, national power and national security. It will cover our strategic
landscape, our geographical constraints and advantages, the external and internal security challenges and relationships
with our land and maritime neighbours. In Part II, we propose to look at India’s security engagement with other
countries, international organizations, its role in UNPKF and humanitarian assistance and disaster relief. We will also
present an overview of the national security architecture, India’s defence industry, indigenization, defence procurement,
exports and economic and financial aspects of the defence sector as a whole.

Throughout the course, the emphasis will be on Strategic Management to provide a broad overview of the various
topics. The basic idea being to develop a capability to grasp the big picture – a key trait of a successful business leader.

Course Objective and Key-takeaways from the course

Course Objectives

We expect students to gain an insight into India’s national security architecture, the security policy formulation
process, India’s role in its immediate neighbourhood and its interactions with various global and regional security
constructs. Students will also get a clear view of how such security imperatives lead to demands on defence
capability development and preparedness with concomitant effects on the sector’s share of national resources, defence
imports and on India’s defence industry.

Key Takeaways

I. Understand and appreciate the Strategic Management Process

II. Gain an insight into the concept and fundamentals of national interests, national security and national power
as well as the security set up at Apex level.

56 | P a g e
 III. Understand the evolution of the concept and content of geopolitics as a science and India’s strategic
importance in the region.

IV. A glimpse into external threats, unresolved borders and internal challenges.

V. A historical perspective on unresolved borders with neighbours and its dynamics.

VI. India’s role vis-à-vis global powers, India’s role as a regional player and an overview of the role of defence
in diplomatic engagements.

VII. Understanding the defence economy

VIII. Relative roles between the private and the public sector in defence industry.

IX. Importance of indigenization and encouraging participation of private industry in the defence sector.

X. Understand the links between security needs, capability development and resources.

XI. Defence offsets, transfer of technology and R&D.

Programme Level Learning Goals (7)

1. Possess state-of-the-art knowledge of theory and practice in all functional fields of management and the ability to
think critically, and apply them to diagnose and find solutions to organisational problems, even in unfamiliar or
uncertain situations

3. Develop a global perspective that is built upon knowledge of economic, technological, regulatory and political
forces that are shaping a new international order in the 21 st century

4. Develop their capacity to articulate their thinking and ideas through verbal and written communications, at a
professional (manager/consultant) level and to deliver the same

7. Acquire the leadership qualities and the competence needed for leading organizational change

Pre-requisites

There are no pre-requisites. It would help if prospective students are interested in national security issues, on India’s
position as a regional and global player and on the development of a vibrant national defence, aerospace and high tech
ecosystem.

International Components

National security is largely predicated onto international sectors. Hence course will address issues of defence
diplomacy, India’s role in the region in the Indian Ocean and the world. There will be several readings on
international issues. We expect international participation to enrich the discussions and provide global perspectives.

Required Text Book(s)

Ministry of Defence, Annual Report 2018-19 (www.mod.gov.in)

Arvind Gupta, How India Manages its National Security (Penguin, 2018)

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Gurmeet Kanwal and Neha Kohli. (Eds.) Defence Reforms – A National Imperative (IDSA)

Harsh V Pant. (Ed.) Handbook on Indian Defence Policy (Routledge, 2016)

Recommended Text Book(s)

S.No Url link / weblink / website

.
1. https://idsa.in/idsacomments/ANationalSecurityStrategyDocumentforIndia_arvindgupta_2010
11
2. https://www.cprindia.org/policy-challenge/7851/foreign-policy-and-national-security
3. https://idsa.in/policybrief/indias-defence-and-security-priorities-skalyanaraman-240518
4. https://idsa.in/issuebrief/InternalSecurityTrendsin2013andaPrognosis_ISCentre_240114
5. https://economictimes.indiatimes.com/news/defence/from-doklam-to-wuhan-2018-will-go-
down-as-watershed-year-in-testy-india-china-ties/articleshow/67240722.cms?from=mdr
6. https://idsa.in/issuebrief/xi-jinping-extended-presidency-india-china-
relations_jppanda_270318
7. https://www.vifindia.org/2019/january/01/indo-pak-relations-in-2019
8. https://idsa.in/idsacomments/resuming-the-india-pakistan-dialogue_skumar_221215
9. https://idsa.in/issuebrief/great-power-conflict-rkumar-060418
10. https://idsa.in/book/DeliberationsofaWorkingGrouponMilitaryandDiplomacy
11. www.mod.gov.in
12. https://idsa.in/jds/6_1_2012_HumanitarianAssistanceandDisasterRelief%28HADR%29_SPar
mar
13. https://www.gatewayhouse.in/india-strategic-autonomy/
14. https://idsa.in/africatrends/india-africa-and-un-security-council-reform_aanant_0915
15. https://www.indianbarassociation.org/indias-role-in-united-nations-reforms/
16. https://southasianvoices.org/india-nuclear-doctrine-strategic-direction-or-drift/
17. https://www.nti.org/learn/countries/india/biological/
18. https://idsa.in/idsacomments/india-asean-partnership-at-25_asajjanhar_040118
19. https://idsa.in/system/files/jds/jds-12-3-2018-india-defence-diplomacy-with-southeast-asia-
vram.pdf
20. https://youtube/i3qRNXA3GFo
21. https://idsa.in/issuebrief/indias-defence-budget-2019-20-lkbehera-080719
22, https://economictimes.indiatimes.com/markets/stocks/news/crisis-in-defence-expenditure-is-
not-really-about-budget-allocations/articleshow/62846686.cms?from=mdr
23. https://economictimes.indiatimes.com/markets/stocks/news/crisis-in-defence-expenditure-is-
not-really-about-budget-allocations/articleshow/62846686.cms?from=mdr
24. https://www.orfonline.org/research/one-rank-one-pension-its-impact-on-the-defence-budget/
25. https://idsa.in/issuebrief/feasibility-and-affordability-defence-expenditure-gdp-lbehera-
200818
26. https://idsa.in/policybrief/defence-agenda-modi-government-2.0-lkbehera-060619
27. https://cag.gov.in/content/report-no-44-2015-compliance-audit-army-ordnance-factories-and-
defence-public-sector
28. https://cag.gov.in/content/report-no-44-2015-compliance-audit-army-ordnance-factories-and-
defence-public-sector
29. https://mod.gov.in/dod/defence-procurement-procedure
30. https://mod.gov.in/dod/sites/default/files/Update060519_0.pdf
31. https://mod.gov.in/sites/default/files/Chapterdppn.pdf
32. https://mod.gov.in/sites/default/files/MoDAR2018.pdf

58 | P a g e
Course Pack Distribution to students
Select readings/parts of readings from recommended reading list

Technology enabled learning component for your course

Online Readings

59 | P a g e
Session Plan

Session Plan
Session Main topic /sub-topics Intended learning outcome Reference Material/Readi
Strategic Management Understand the concept of national security and
1. Process, National Security its dimensions.
apparatus Gain an insight into the concept and fundamentals
of national interests and its dynamic https://idsa.in/idsacomment
categorization. DocumentforIndia_arvindgu

Appreciate relationship between national interests

and national security. Identify the linkages
Sub Topic 1 - National values, between national values, interests and national https://www.cprindia.org/po
culture, interests, vision, security objectives. policy-and-national-security
goals/ objectives,
Develop insight in to the concept of national
power, its levels, components

Security organization at Apex level

Sub Topic 2 –
National Security, Interests
and National Power

Sub Topic 3–National

Security Apparatus
Strategic Landscape Understand the evolution of the concept and Mackinder, Halford J.; Dem
2 &Geography content of geopolitics as a science Study in the Politics of Rec
1919
Understand the approaches and theories of
Sub Topic 1 – Security geopolitics Spykman. Nicholas J; Amer
dimension of Geo-politics. Politics: The United States a
Harcourt Brace and Compa
Geo-strategic importance of the Indian mainland
Sub Topic 2 - Evaluate the and its island territories in the context of
changing geopolitical world geopolitics of the region
order, with special reference
to Indo-Pacific region Cooperative contiguous neighbourhood dynamics

Sub Topic 3–Security

construct in the Region

3 External and Internal A glimpse into threats and

Security Challenges challenges

Sub Topic 1 – External Unresolved borders and other

Threats threats
https://idsa.in/policybrief/indias-defence-and-sec
Sub Topic 2 – Internal Internal challenges in a skalyanaraman-240518
Challenges developing economy of a vast and
diverse country
https://idsa.in/issuebrief/InternalSecurityTrendsin
tre_240114
4 Neighbours Dynamics of neighbours with
unresolved borders

Sub Topic 1– China Border dispute, assertiveness in

South China Sea, Perspective on https://economictimes.indiatimes.com/news/defe
1
 Tibet and Xinjiang wuhan-2018-will-go-down-as-watershed-year-in
ties/articleshow/67240722.cms?from=mdr
Kashmir dispute (History &
Sub Topic 2 - Pakistan perspectives)
Line of Control dynamics. https://idsa.in/issuebrief/xi-jinping-extended-pres
relations_jppanda_270318
Terrorism and proxy war

https://www.vifindia.org/2019/january/01/indo-p

https://idsa.in/idsacomments/resuming-the-india-
dialogue_skumar_221215
5 Extended A perspective of extended
Neighbourhood, Indo- neighbourhood
Pacific & Global Powers

Sub Topic 1 – Regional A perspective of the dynamics in https://idsa.in/issuebrief/great-power-conflict-rku

Dynamics neighbourhood beyond the
neighbours

Sub Topic 2 – Indo Pacific India’s interests and involvement

from East coast of Africa to West
coast of US

Global power play in the region

Sub Topic 3 – Global and India’s involvement
Powers
6 Defence Diplomacy
Subtopic 1 – Contours of Overview of the role of defence in Institute for Defence Studies and Analyses
defence diplomacy diplomatic engagements Deliberations of a Working Group on Defence D
HADR (https://idsa.in/book/DeliberationsofaWorkingGr
y)
Ministry of Defence Annual Report 2018-19 Cha
Sarabjeet Singh Parmar, “HADR In India’s Natio
Defence Studies, Vol.1, Issue1, IDSA, Jan 2016
https://idsa.in/jds/6_1_2012_HumanitarianAssist
HADR%29_SParmar
Rajiv Bhatia, India and Strategic Autonomy, Gat
https://www.gatewayhouse.in/india-strategic-aut
Subtopic 2 – India & UN Understanding of India’s role in Eighth Moscow Conference on International Sec
Security Council UNPKF Peacekeeping efforts : New Perceptions and mili
by Sanjay Mitra, Defence Secretary} April 2019

Ministry of Defence Annual Report 2018-19 (ww

3.70- 3.72
Arpita Anant, India Africa and UN Security Cou
https://idsa.in/africatrends/india-africa-and-un-se
reform_aanant_0915
Pooja, “India’s Role in United Nations Reforms”
Association
https://www.indianbarassociation.org/indias-role
Subtopic 3 – India & Understanding of India’s role in Ali Ahmed, India’ Nuclear Doctrine: Strategic D
global constructs NSG, MTCR, CBRN Asian Voices,17 Dec 2018
https://southasianvoices.org/india-nuclear-doctrin
drift/
India, Nuclear Threat Initiative
https://www.nti.org/learn/countries/india/biologic

2
 Subtopic 4 – India & the Understanding India’s role as a Ministry of Defence Annual Report 2018 – 19 (w
regional constructs IOR, regional player 4
IONS, Milan, Kakadu, Ashok Sajjanhar, The India ASEAN Partnership
Quad, Indo-Pacific, Jan 2018
ASEAN https://idsa.in/idsacomments/india-asean-partners
25_asajjanhar_040118
Vignesh Ram, India’s Defence Diplomacy with S
to Act East, Journal of Defence Studies, Vol. 12,
2018, pp. 55-78 IDSA, 2018
https://idsa.in/system/files/jds/jds-12-3-2018-ind
southeast-asia-vram.pdf
Subtopic 5 – India, US, Understanding India’s role vis-à-
Russia, Japan & others, vis global powers. Role of
Major Defence Partner acquisitions
(US), Strategic Partner
(Russia/Japan) Defence
acquisitions
7. Finances for defence &
the impact of defence
expenditure
Subtopic 1 Understand the trends/patterns in https://youtube/i3qRNXA3GFo (webcast by She
Defence finances in the the composition of defexp as a % Episode 205# Cut the clutter)
Indian context of total govt spending Laxman Behera, Institute of Defence Studies and
Issue Brief, July 08, 2019 India’s Budget 2019-2
https://idsa.in/issuebrief/indias-defence-budget-2
“Crisis” in defence expenditure is not really abou
February 9 2018 Economic Times – Somnath Mu
https://economictimes.indiatimes.com/markets/st
defence-expenditure-is-not-really-about-budget-
allocations/articleshow/62846686.cms?from=md
“Weaponise with Reason – Somnath Mukherjee
2019
https://economictimes.indiatimes.com/markets/st
defence-expenditure-is-not-really-about-budget-
allocations/articleshow/62846686.cms?from=md

ORF Issue Brief 15 Feb 2016 – OROP – Its impa

https://www.orfonline.org/research/one-rank-one
defence-budget/

Subtopic 2 Grasp inter-country companions

Defence expenditure in the
global context

Subtopic 3 Understand the relationship

Determinants of defexp between defexp, GDP, CG Exp, Laxman Behera, IDSA Issue Brief Aug 20, 2018
examine, causal connections ‘Examining the Feasibility and Affordability of R
Defence Expenditure to 3 % of GDP’
https://idsa.in/issuebrief/feasibility-and-affordabi
gdp-lbehera-200818

Subtopic 4 Tie in subtopics 1-3 with India’s

Security construct, security needs and resultant
capability development capability development
resource envelop. requirements and get a broad
- Feasibility, road understanding of the roadmap
ahead, constraints

3
8. Defence Industry in
India
Subtopic 1 – Architecture Understand the relative roles of Towards Strengthening Self Reliance in Defence
of the defence industry the private and the public sector Defence, April 2005 (Kelkar Committee)
sector start-ups, defence in defence industry.
corridors Laxman K Behera, “Defence Agenda for Modi G
Policy Brief, June 06, 2019, https://idsa.in/policy
government-2.0-lkbehera-060619

Subtopic 2 In depth understanding of the CAG Report No.44 of 2015 (Defence Services)
The Ordnance Factory most critical segment of India’s Chapter VII – Ordnance Factory Organisation
Board (OFB) defence sector, its problems (https://cag.gov.in/content/report-no-44-2015-co
ordnance-factories-and-defence-public-sector)
Ministry of Defence Annual Report 2018-19 {C
(www.mod.gov.in)
Subtopic 3 Hands on experience of options
In-depth class discussion involved in the restructuring the
on possible OFB reforms OFB – Understand differences
with other PSU restructuring

Subtopic 4 In depth understanding of the CAG Report No.44 of 2015 (Defence Services)
Defence Public Sector working of Defence PSUs Chapter VIII – Defence Public Sector Undertakin
Undertakings (https://cag.gov.in/content/report-no-44-2015-co
ordnance-factories-and-defence-public-sector)
Ministry of Defence Annual Report 2018-19
{Chapters 7.13 to 7.21} (www.mod.gov.in)
Subtopic 5 Understand the role of the private
The private sector in sector – possibilities of
Indian defence growth/diversification
size/scope/history
prospects
9 Security needs, capability Learning outcomes understand the
development & defence links between security needs, References
acquisition capability development &defence
acquisition

Subtopic 1 Understand the evolution of the Updated version of Defence Procurement Proced
History of defence acquisition mechanism in India
acquisition https://mod.gov.in/dod/defence-procurement-pro
Restructuring post-KRC, https://mod.gov.in/dod/sites/default/files/Update0
Value/Composition

Subtopic 2 Compare India with other major

International models in arms buyers
defence acquisition
Subtopic 4 Study how defence acquisition
Defence acquisition as differs from other govt
distinct from all other govt procurement
procurement - Examine critiques
- Explore in-house
reforms processes
-
Subtopic 5 Critically examine the SP Chapter VII: Revitalising Defence Industrial E
The Strategic Partnership document. In-class study of the Partnerships.
(SP) initiative strengths & weaknesses of the SP https://mod.gov.in/sites/default/files/Chapterdppn
approach.
10 Indigenization
4
 Subtopic 1 Understand the basic issues in the
Definition of development of an indigenous
indigenization, defence defence industry.
indigenization – pros &
cons, impact of capability
& preparedness
Subtopic 2 Examine the overall trend in
Indigenization over the indigenization study
years Examples of successful &
successes & failures unsuccessful efforts – understand
the reasons for differing
outcomes.
Subtopic 3 What is TOT? However to
TOT evaluate?
Study the history of defence TOT.
Examine select cases
TOT in OFBs, TOT in DPSUs,
TOT in the private sector, TOT &
DRDO
Subtopic 4 General understanding of Chapter-8, MoD Annual Report 2018 – 19
Defence R&D domestic defence R&D https://mod.gov.in/sites/default/files/MoDAR201

** Faculty should endeavor to provide as much detail on session-wise topics / readings in the suggested
format.

Evaluation Components

✓ Components ✓ Weightage

Class Quizes 60%

Term Paper 40%

Online Course Management (moodle)/course web

This outline may be filled after reading the PGP Instructors Manual

21. Strategy Execution (SM-255)

(Prof. Ramya Tarakad Venkateswaran)

Course Coordinator:
Prof. Ramya Tarakad Venkateswaran
([email protected], ext. 774, Room No K-507).

Permanent faculty member who will be teaching the course: Prof. Ramya Tarakad
Venkateswaran

Guest faculty memberwho will be teaching the course: Two guest lectures with top management
profile.

5
Course pre-requisites, if any: Core Strategic Management course must be completed
satisfactorily.

Restrictions on course registration and criteria for restriction, if any: A maximum of 30

participants.

Course objectives:

Most companies believe that a winning strategy crafted carefully is a guarantee to success, however
on an average companies realize only 60% of the strategy’s potential value due to a failure of good
execution.Execution is a series of actions that involves many dynamic elements such as
orchestrating teams, resources, and structures, at different degrees of flexibility and willingness to
adapt, and often at considerable risk and significant requirements for follow-through in various
forms. Standardizing a process for execution is next to impossible, because execution is particular
to each organization’s context, capabilities, culture and environment.

Strategy Execution introduces participants to the principles of effective strategy implementation.

The course addresses key concepts such as the triad of strategy-people-operations; supporting
activities and structures such as incentives, reviews, organizational structure,the role of
leadershipand organizational culture, within the context strategic change, execution failure, and
cross-cultural ramifications in strategy implementation. We also devote attention to the special
issues that arise during the execution of a joint venture and mergers and acquisitions. Participants
are also equipped with the essential tools and frameworks popular in strategy execution.

The value proposition of this course is that it provides a combination of theoretical ammunition,
exposure to practitioner experience and is powered by hands-on sessions in using and critiquing the
tools of strategy execution.

Pedagogy:
Lectures, Cases

Evaluation method (weightages to various components):

Group Case Analysis and Presentation 20%

Group Project Report (based on session 16(2)) 30%
Class Participation, Quiz 10%
End-term Examination 40%

6
 SESSION OUTLINE
Module 1: Introduction to Strategy Execution
1 Topic: Introductory session.

Description: Overview of the concepts - Strategy formulation and implementation, the design school
and its critique, introduction to organizational ambidexterity, dynamic capabilities, power and politics,
organizational resistance to strategy implementation.

Case:Gunfire at Sea, Video, HBS (2014), Product ID: 414707-VID-ENG

Readings:
The Execution Trap, HBS (2010)
Chapters 1 and 2 of ‘Execution’
Turning Great Strategy into Great Performance, HBS (2005)

Discussion Questions:
1. Which is more challenging – implementing a new strategy when things are going well for the
firm or when the times are tough?
2. What are the elements of organizational resistance to strategy implementation? What did you
observe in the video, and what parallels do you draw in your organization?

Additional references:
Three Keys to Effective Execution, HBS (2008)
Process of Strategy Definition and Implementation, HBS (1999), Product ID: 399179-PDF-ENG
2 Topic: Aligning Strategy, Peopleand Operations

Description: Discuss the gist of the book ‘Execution’; Congruence model, 7S model, leadership
behaviors.

Case:
Southwest Airlines, HBS (2006)

Readings:
From Strategy to Implementation: Seeking Alignment, HBS (2005)
Chapters 3, 5,6,7,9 of ‘Execution’
People Side of Implementation: Getting the Right People on Board, HBS (2005), 5610BC-PDF-ENG

Discussion Questions:
1. What elements of successful execution can you observe at Southwest? What is inimitable about
the strategy implementation?

Additional references:
The Secrets to Successful Strategy Execution, HBS (2008)
3 Topic: The role of leadership and organizational culture in strategy implementation

Description:
Highlights the fundamental tensions that leaders face when implementing a scale strategy: balancing
rapid growth and the need to leverage their organization culture as the firm evolves.

Case:
Leadership, Culture, and Transition at lululemon, Multimedia Case, HBS (2010), Product ID: 410705-
HTM-ENG

7
 Readings:
Chapter 4 of ‘Execution’
What Is an Organization's Culture? , HBS (2006)

Discussion Questions:
1. Peter Drucker stated “Culture eats strategy for breakfast”. Comment.

Additional references:
Interview of Edgar Schein: The Anxiety of Learning, HBR (2002)
Sections 1 and 2 of the book ‘Culture Eats Strategy for Lunch’.
4 Topic: Executing Strategic Change

Description: Stages of change, treating execution of change as a step-by-step process rather than as an
outcome; the consequences of shortcuts that may bear immediate results; the role of everyday decisions
by managers in implementing change,

Case: Lululemonathletica (contd.)

Readings:
Leading Change: Why Transformation Efforts Fail, HBR (1995).
How Managers’ Everyday Decisions Create - or Destroy - Your Company’s Strategy.
Grow by Focusing on What Matters 7: Implementation: An Inside View of the Organization, HBS
(2011), BEP055-PDF-ENG

Discussion Questions:

Additional references:
Implementation: Putting Your Plan in Motion, HBS (2002)
Module 2: Tools and frameworks for strategy execution
5 Topic: Tools and frameworks to facilitate execution: 4DX Model

Description: Discussion of the 4DX model

Case:Company caselets in Section 3, chapter titled ‘Best Practices from the Best’ from the book The 4
Disciplines of Execution

Readings:
Book chapters from Section 1 and 2 of The 4 Disciplines of Execution

Additional references:

6 Topic: Tools and frameworks to facilitate execution: Blue Ocean Strategies

Description: Blue ocean strategies

Case:
Blue Ocean Strategy Implementation Scenario Case: Tipping Point Leadership and Fair Process in
Action

Readings:
Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the
Competition Irrelevant, Build Execution into Strategy, HBS (2015), 0028BC-PDF-ENG

Additional references:
8
7 Topic: Tools and frameworks to facilitate execution: Strategy maps

Description: Strategy maps and the balanced score card

Case:Making Balanced Scorecard Work to Implement Business Strategies at Magic Technology, HBS
(2012)

Readings:
Balanced Scorecard: Measures That Drive Performance (HBR, 2005)
Using the Balanced Scorecard as a Strategic Management System (HBR,2007)

Additional references:

8 Topic: Balanced scorecard simulation – Part 1

Description: In-class simulation exercise with teams using the balanced scorecard.In this multi-player
simulation, students experience the benefits and challenges of using a scorecard to implement strategic
initiatives and monitor firm performance. Small teams of students work together to choose a strategy for
their company, create a strategy map, develop a balanced scorecard, choose initiatives to implement their
strategy, and use feedback from the balanced scorecard to adjust their implementation approach over a
series of 8 rounds. At the conclusion of the simulation, each team's company will be purchased by a
private investor. The goal of the simulation is to maximize firm value at the time of buyout-the buyout
price being based on the company's financial position and future prospects

Case:Strategy Simulation: The Balanced Scorecard HBS (2014)

9 Topic: Balanced scorecard simulation – Part 2

Description: In-class simulation exercise with teams using the balanced scorecard. The simulation
debrief section provides key statistics and visuals that summarize student performance.

Case:Strategy Simulation: The Balanced Scorecard HBS (2014)

Readings:
Empowering the Individual to Execute Strategy (HBR, 2007)
Module 3: Strategy implementation practices in organizations
10 Topic: Managing by Strategic Themes and Initiatives

Description: Breaking down strategy into a few themes; the challenges of implementing specific
strategic initiatives.

Case:
Infosys Consulting in 2006: Leading the Next Generation of Business and Information Technology
Consulting, HBS (2006)

Readings:
Managing by Strategic Themes, HBS (2007), B0709A
Strategic Initiatives: Launching the Strategy into Motion, HBS (2008), Product ID: 7687BC-PDF-ENG
Planning the Campaign, HBS (2003)

Discussion Questions:
Ensuring the Success of your Strategic Initiatives, HBS (2013)

Additional references:
9
 Testing, Monitoring, and Adjusting Strategic Objectives Through Data Analytics at Northwestern
Mutual, HBS (2011)
11 Topic: The Office of Strategy Management

Description: Gets to the nuts and bolts of implementing strategy; what does it involve on a regular
basis?

Case: Participants to bring in their own strategy dashboards to class.

Readings:

The Office of Strategy Management-The State of the Art, 2011, HBS (2011), B1101A-PDF-ENG
Kaplan, Robert S., and David P. Norton. “The Office of Strategy Management.” Harvard Business
Review 83, no. 10 (October 2005): 72–80.
How to Stay on Course: Sensing and Responding to Deviations from Plan, HBS (2005), 5603BC-PDF-
ENG
Using Dashboards to Revolutionize Your Performance Management System, Part 2: Implementation
Action Plans: The Architecture of Implementation, HBS (2005), 5597BC-PDF-ENG

Discussion Questions:

Additional references:
Chapter 8 of ‘Execution’;
Chapters from The 4 Disciplines of Execution
12 Topic: Strategic planning in execution

Case: Renault’s investment strategy in Brazil in the mid-1990s (first part of the reading)

Reading:
Giraudeau, M. 2008. The Drafts of Strategy:Opening up Plans and their Uses. Long Range Planning.

Discussion Questions:

Additional readings:

13 Topic: Top management perspectives of the challenges in execution

Description: Practitioner perspectives: GUEST LECTURE

Case:

Reading:

Discussion Questions:

Additional references:

Module 4: Inter-firm strategy execution and cross-cultural perspectives

14 Topic: Strategy execution in a joint venture

Description: Perspectives of execution and special issues that arise in a JV context.

Case:CIBC Mellon: Managing a Cross-Border Joint Venture (HBR (Ivey case), 2010)
10
 Readings:
Way to Win in Cross-Border Alliances (HBR, 1991)
How to Make a Global Joint Venture Work (HBR, 1982)

Discussion Questions:

Additional references:

15 Topic: Strategy execution in mergers and acquisitions

Description:

Case:Daksh and IBM: Business Process Transformation In India. Part 2 - The Post Buy-Out Years, HBR
(2008)

Reading:
Twenty Questions for Every M&A: Improving Postmerger Integration Performance (HBR, 2013)
Avoid Merger Meltdown: Lessons from Mergers and Acquisitions Leaders (HBR, 2004)

Discussion Questions:

Additional references:
Determination and Evaluation of Merger Success (2005)
16 Topic: Strategy execution in cross cultural settings

Description: The compounded complexity of execution across culture, and frameworks to deal with
cultural differences.

Case:
(1) DaimlerChrysler: Organizing the Post-Merger Integration, HBS(2003)
(2) Exercises in the Strategy of Post-Merger Integration, HBS (2000)

Readings:
Gertsen, M.C., Soderberg, A., &Torp, J.E. Different Approaches to the Understanding of Culture in
Mergers and Acquisitions In Cultural Dimensions of International Mergers and Acquisitions, Walter de
gruyter, Berlin, New York, 1998: 17-38.

Discussion Questions:

The second case recounts the announced terms of five prominent acquisitions of the late 1990s, and asks
the student to suggest a preliminary strategy for integrating the target firm into the buyer. The five
acquisitions are America Online/Time Warner, British Petroleum/Amoco, Daimler-Benz/Chrysler,
Union Pacific/Southern Pacific, and Warner-Lambert/Agouron Pharmaceuticals. The objectives of the
case are: 1) to highlight the linkage of the post-merger integration approach with the strategic motives
for the acquisition; 2) to consider the range of possible challenges to successful post-merger integration;
3) to explore the varieties of integration strategy, especially surrounding decisions about autonomy of the
target company within the buyer, importance of interdependence between the buyer and target, and need
for speed of integration. The first case is illustrative towards this exercise.

Additional references:
17 Topic: The role of senior management belief structures in strategy execution

Description: Practitioner perspectives: GUEST LECTURE

11
 Case:

Reading:

Discussion Questions:

Additional references:

Module 5: Additional perspectives to strategy execution and conclusions

18 Topic: Dynamic capabilities

Description:

Case:Dynamic Capabilities at IBM: Driving Strategy into Action (HBS article)

Reading:

Regner, P. 2008. Strategy-as-practice and dynamic capabilities: Steps towards a dynamic view of
strategy. Human Relations.

Discussion Questions:

Additional references:

19 Topic: Governance perspectives

Description: Perspectives on Strategy and the Board’s involvement.

Case:
General Mills Board and Strategic Planning

Reading:
Governance and Strategy Implementation: Expanding the Board's Involvement, HBS (2002), BH082-
PDF-ENG
The Execution Premium: Linking Strategy to Operations for Competitive Advantage by Robert S. Kaplan
and David P. Norton. Harvard Business Review Press, Boston, MA, 2008, p. 8.

Discussion Questions:

Additional references:
20 Topic: Recap and integration of learnings

End-term examination

12
Textbook, course material, reference books, cases:

1. The 4 Disciplines of Execution, by Chris Mcchesney, Sean Covey, Jim Huling,

RajanKaicker
2. Bossidy, L., Charan, R., &Burrick, C. 2011. Execution: the Discipline of Getting Things
Done. Random House Business Books.

Reference books:

1. W. Chan Kim and Renée Mauborgne, 2005. Blue Ocean Strategy, Blue Ocean Strategy:
How to Create Uncontested Market Space and Make Competition Irrelevant. Harvard
Business Press.
2. Clayton Christenson, Jeff Dyer, Hal Gregerson. 2011. The Innovator's DNA: Mastering the
Five Skills of Disruptive Innovators. Harvard Business Review Press.
3. Edgar H. Schein, 2010. Organizational Culture and Leadership. Jossey-Bass Business &
Management Series.

Reference articles:

1. Binns, Andy, J. Bruce Harreld, Charles O’Reilly III, and Michael L. Tushman. “The Art of
Strategic Renewal.” MIT Sloan Management Review 55, no. 2 (Winter 2014): 21–23.
2. Gerstner, Louis V., Jr. Who Says Elephants Can't Dance? Leading a Great Enterprise
Through Dramatic Change. New York: HarperCollins, 2003.
3. Govindarajan, Vijay, and Chris Trimble. The Other Side of Innovation: Solving the
Execution Challenge. Boston: Harvard Business Review Press, 2010.
4. Heifetz, Ronald A. Leadership Without Easy Answers. Cambridge: Belknap Press of
Harvard University Press, 1994.
5. Kaplan, Robert S., and David P. Norton. Kaplan and Norton on Strategy Management, A
BSR Reader. Boston: Harvard Business Press Newsletters, 2010.
6. Lafley, A. G., and Roger L. Martin. Playing to Win: How Strategy Really Works. Boston:
Harvard Business Review Press, 2013.
7. Nadler, David, and Michael L. Tushman. “Designing Organizations That Have Good Fit.”
InOrganizational Architecture, edited by D. Nadler. San Francisco: Jossey-Bass, 1992.
8. Neilson, Gary L., Karla L. Martin, and Elizabeth Powers. “The Secrets to Successful
Strategy Execution.” Harvard Business Review 86, no. 6 (June 2008): 60–70.
9. O’Reilly, Charles A., III, and Jeffrey Pfeffer. Hidden Value: How Great Companies
Achieve Extraordinarily Results with Ordinary People. Boston: Harvard Business School
Press, 2000.
10. Pfeffer, Jeffrey, and Robert I. Sutton. “Knowing “What’ to Do Is Not Enough:
Understanding the Knowing-Doing Gap.” In The Knowing-Doing Gap: How Smart
Companies Turn Knowledge into Action, by Jeffrey Pfeffer and Robert I. Sutton. Boston:
Harvard Business School Press, 2007.
11. Porter, Michael E., et al. HBR’s 10 Must Reads on Strategy. Boston: Harvard Business
Review Press, 2011.
12. Simons, Robert L. Seven Strategy Questions: A Simple Approach for Better Execution.
Boston: Harvard Business Review Press, 2010.
13. Teece, David J. Dynamic Capabilities and Strategic Management: Organizing for
Innovation and Growth. Oxford: Oxford University Press, 2009.
14. Tushman, Michael L., and Charles A. O’Reilly III. Winning Through Innovation: A
Practical Guide to Leading Organizational Change and Renewal. Boston: Harvard Business
School Press, 2002.

13
22. Corporate Strategy (SM-258)

Professor: Palash Deb

Office: K-503
Extension: 132
Email: [email protected]
Class Timings: 12 noon – 1.30 PM
Location: L-51

COURSE DESCRIPTION

Managers of firms having multiple business divisions, or legally independent subsidiaries,

face a unique set of challenges that are not confined to particular geographies or products.
They may need to decide on acquiring new businesses, divesting existing businesses, and
entering new geographical or product markets. Managers may also need to decide whether
the firm should have ownership of vertically related activities, or whether such activities
should be performed using arm’s length market contracts. Managers of firms with multiple
divisions or subsidiaries must also decide how to organize and manage the resulting
organizational structure to achieve critical synergies. These decisions about a firm’s
business portfolio can either increase or reduce the scope of the corporation, and determine
where it competes. In this course you will learn to think about such decisions, which, as a
whole, represent a firm’s corporate strategy. We will discuss the notion of corporate
advantage, become acquainted with some relevant analytical tools, and study theory, cases
and articles that illustrate some of the myriad challenges facing the corporate strategist.

COURSE OBJECTIVES

By the end of the course, you should be able to:

(1) Understand the concepts of corporate advantage and corporate scope

(2) Understand some of the typical corporate strategies used by firms
(3) Understand some of the basic issues in corporate organization and governance

PEDAGOGY

We will extensively discuss theories, concepts, ideas, analytical tools and frameworks
based on the very large body of research on corporate strategy.

The case method of learning will be another major pedagogical tool. Carefully read the
case, and analyze the discussion questions provided, before coming to class. Given that we
are trying to analyze and predict real-life decision-making by managers, which by its very
nature is part science and part art, it is possible to look at the same situation in different
ways and to suggest alternative decision paths. I will therefore be open to alternative
viewpoints as long as they are rationally analyzed and logically defended.

14
Hindsight is 20/20. Therefore, while analyzing a case for class based on the discussion
questions provided, think about the situations as the protagonists saw them then, instead of
trying to critique their decisions based on what we now know about those situations.
Hence, unless explicitly told, limit yourself to the information given in the case. In other
words, you do not have to perform any secondary research while analyzing a case for
classroom discussion. Separately note that we may, if needed, discuss different aspects of a
single case on two different days (the course schedule will be changed accordingly).

Next, we will also discuss relevant HBR articles to further inform and enrich our classroom
discussions.

Finally, I will also provide you links to articles published in the business press (e.g.,
Financial Times, Forbes, Wall Street Journal etc.). These articles, though not a part of the
Course Packet, will also form the basis for much of our classroom discussions.

COURSE MATERIALS

Required: Corporate Strategy: Tools for Analysis and Decision-Making, 1st edition
ISBN 978-1-107-54404-8 Paperback
Authors: Phanish Puranam & Bart Vanneste
Publisher: Cambridge University Press
Copyright year: 2016
Pages: 298

Required: Course Packet (includes seven case studies and fifteen articles)

Recommended: (1) The Wall Street Journal (2) Business Week

COURSE EVALUATION

Your course grade will be based on the following components:

Class Participation 20%

Group Presentation 15%
Group Project 20%
Final Examination 45%

There are no make-up assignments for any component of the course, nor are extra credit
assignments available.

1. Class Participation

Your individual contributions to discussions will be evaluated on an ongoing basis. You

are expected to come to class having completed any assigned readings, case analysis,
homework or other tasks. Please remember that participation and contribution are not the
same thing. While participation is important, what is more important is the quality of that
participation.
15
Outstanding contributions: A student’s comments show that he/she has read and thought
deeply about the assigned readings or case and has developed creative and innovative
insights from his/her analyses. The comments should advance the discussion of the
readings or case to a higher level. This level of credit is reserved for truly excellent
contributions. An outstanding contribution will earn you an A.

Excellent / Superior contributions: A student’s comments show that he/she has read and
thought about the readings or case and can generate insights from his/her analyses that add
to the learning of fellow students. The main distinction between Excellent and Superior
contribution is the sophistication of the analyses. An excellent contribution will earn you
an A- while a superior contribution will earn you a B+.

Very Good / Good contributions: A student’s comments show that he/she has read and
thought about the readings or case, and he / she is able to add to the class discussion of an
important issue. A very good contribution will earn you a B while a good contribution will
earn you a B-.

Fair / Modest contributions: A student’s comments show that he/she has made some
preparations, but it is clearly not adequate. A fair contribution will earn you a C+ while a
modest contribution earns you a C.

No contribution: A student who has made no preparations at all, or does not speak up in
class at all, or regularly absents himself / herself from class, or is regularly late to class,
will earn an F on the class contribution grades. However, for class contribution, an F is not
an automatic zero. The exact points you will earn for an F will be determined by the
instructor, but it will certainly be less than 14.

2. Group Presentation

Please organize yourself into groups of 5/6 and email me the group member names (and
the group name) before the start of the second day of class. There should be a total of seven
groups. Each group needs to present on a case study that will be assigned after the groups
are formed. The case questions will be put up online.

Each presentation will be for 30 (+/- 3) minutes. Please upload an electronic version of the
presentation before class, and also submit a hard copy in class. Each member of the group
is expected to present. If you are absent on the day of your group’s presentation, you will
not earn any marks for the presentation.

Credit will be given for substance of presentation (including the ability to link theory and
concepts learnt in class to the case at hand), quality of analyses, clarity, organization, time
management etc. In short, I expect a thorough and professional presentation.

You will also need to confidentially fill out peer review forms.

3. Group Project

16
Each group shall submit a project report at the end of the semester. The report should be
submitted as a hard copy on the last day of class while an electronic version should be
uploaded before the start of the last class session. The project report should be 25 (+/- 1)
pages long (Times New Roman, font 12, single-spaced with 1-inch margins) and may
include graphs and tables.

For this project you need to pick a large, publicly-listed, multi-business company and
analyze its corporate strategy. Further details will be provided in class. Each group needs to
meet me at least once during the term to discuss the progress of their project. You will also
need to confidentially fill out peer review forms.

4. Final Examination

The final will be a closed-book examination. It will partly be based on a case study that
will be distributed during the examination. One objective of the final examination is to
assess your ability to come up with analytically-grounded and cogent argumentation in
solving the case questions. More importantly, however, you should be able to integrate into
your answers the relevant material (theories, articles, cases, examples etc.) learnt in class in
a way that shows your mastery of the subject-matter.

In addition to application-based case questions, there will be a few questions directly

testing you on your familiarity with the theories, concepts and frameworks learnt in class.
Further details will be provided in class.

POLICIES AND EXPECTATIONS

Attendance: Most class sessions will be interactive and it is expected that you will attend
all class meetings. Missing class means missing the group learning experience and you
cannot make this up by reading the textbook or any slides that are posted. There is no
explicit penalty for late-coming or absences. However, missing class, being late, or leaving
class early, will affect your class participation grade adversely because if you are not in
class, you will not be able to contribute to the discussion and earn credit for those
contributions. Also note that I do not distinguish between excused and unexcused absences
when it comes to class participation.

Preparation: You are expected to be prepared to engage in discussion, which includes

completion of all assigned readings and careful analysis of every assigned case. I will “cold
call” on students periodically during case discussions and activities. Preparation allows you
to focus on the key issues rather than background details, and to provide thoughtful
comments that enrich the discussion. Expect to work hard and be challenged to think. You
are responsible for contributing to a positive learning environment, which includes being
prepared to make a constructive contribution to the class.

Professionalism: You are expected to conduct yourself with professionalism. Please plan
to arrive for class on time and turn off all devices that may be a distraction (e.g., cell
phones). You are not allowed to use laptops, smartphones etc. in class. Also, during
discussions, please treat everyone around you with respect. Disrespect and being
inconsiderate are “pet peeves” of mine.
17
Use of student work: Copies of written student work may be used for pedagogical
purposes. An example of this would be using student answers to an examination question
to illustrate what strong answers look like. Any student work so used shall be rendered
anonymous by removing the name and other identifiers. Student work may also be used for
teaching evaluation and assessment.

Academic Integrity: Personally, I take matters of academic integrity very seriously. I

maintain a “zero tolerance” approach to violations of academic integrity. If I discover that
a student has violated academic integrity in my course, that student will receive an
automatic “F” in the course. Some examples of violations of academic integrity include:
copying from others during exams; copying assignments or working on someone else’s
assignment; prior knowledge of test questions; not citing referenced material completely or
accurately, etc. These are only examples of common problems; this is not an exhaustive
list. If you have any questions about what constitutes a violation, please do not hesitate to
ask me.

TENTATIVE COURSE SCHEDULE

Module 1: Foundations
Session 1: Course Overview & Introduction to Corporate Advantage
1. Puranam & Vanneste (chapter 1)

Session 2: Synergies
1. Puranam & Vanneste (chapter 2)
2. Piskorski M J. “Choosing Corporate and Global Scope”, Harvard Business School
Background Note 707-496, 2007

Session 3: Governance Costs

1. Puranam & Vanneste (chapter 3)
2. Anand B. “Corporate Strategy”, Harvard Business School Module Note, 713-415,
2012

Module 2: Firm Scope

Session 4: Product Scope (A)
1. Puranam & Vanneste (chapter 4)
2. Palich L E, Cardinal L B & Miller C C. 2000. “Curvilinearity in the diversification-
performance linkage: An examination of over three decades of research” Strategic
Management Journal, 21: 155-174

Session 5: Product Scope (B)

1. Rukstad M G & Collis D. “Walt Disney Co.: The Entertainment King” (HBSP case
study, 2009)
2. Anand B N & Jayanti S, “Strategies of Unrelated Diversification”, HBSP article,
2005

Session 6: Product Scope (C)

18
 1. Khanna T, Palepu K G & Wu D M. “House of Tata – 1995: The Next Generation
(A) (HBSP case study, 2006)
2. Ramachandran J, Manikandan K S & Pant A. “Why Conglomerates Thrive
(Outside the U.S.)”, Harvard Business Review, 2013

Session 7: Vertical Scope (A)

1. Puranam & Vanneste (chapter 8)
2. Thomas O & Madhok A. “Vertical Integration is Dead, or Is It?”, Business
Horizons, 2003

Session 8: Vertical Scope (B)

1. Casadesus-Masanell R, Tarzijan J & Mitchell J. “Arauco (A): Forward Integration
or Horizontal Expansion?” (HBSP case study, 2010)
2. McGrath, R. “Why Vertical Integration is Making a Comeback”, Harvard Business
Review, 2009

Session 9: Geographic Scope

1. Ghemawat P & Khanna T. “Tricon Restaurants International: Globalization Re-
examined” (HBSP case study, 2009)
2. Friedrich J, Noam A & Ofek, E. “Right Up the Middle: How Israeli Firms Go
Global”, Harvard Business Review, 2014

Module 3: Mechanisms to Change Firm Scope

Session 10: Ally or Acquire
1. Puranam & Vanneste (chapter 5)
2. Dyer J H, Kale P, Singh H, Singh H. “When to Ally and When to Acquire”,
Harvard Business Review, 2004

Session 11: Organic or Inorganic Growth

1. Puranam & Vanneste (chapter 6)
2. Capron L & Mitchell L. “Finding the Right Path”, Harvard Business Review, 2010

Session 12: Managing M&A (A)

1. Puranam & Vanneste (chapter 11)

Session 13: Managing M&A (B)

1. Montgomery C. “Newell Company: Corporate Strategy” (HBSP case study, 2005)
2. Harding D & Rovit S. “Building Deals on Bedrock”, Harvard Business Review,
2004

Session 14: Managing Alliances (A)

1. Puranam & Vanneste (chapter 12)

Session 15: Managing Alliances (B)

1. Shih, W, Pisano G & King A. “Radical Collaboration: IBM Microelectronics Joint
Development Alliances” (HBSP case study, 2008)

19
 2. Bamford J, Ernst D & Fubini D G. “Launching a World-Class Joint Venture”,
Harvard Business Review, 2004

Session 16: Divestitures

1. Puranam & Vanneste (chapter 7)
2. Bowman E H, Singh H, Useem M & Bhadury R. “When Does Restructuring
Improve Economic Performance?”, California Management Review, 1999
3. Moschieri C & Mair J. “From Trash to Treasure: Successful Divestitures need
Proper Cultivation” (IESE Expert Insight, 2011)

Module 4: Portfolio Organization

Session 17: Designing the Corporation
1. Puranam & Vanneste (chapter 9)

Session 18: Designing the HQ

1. Puranam & Vanneste (chapter 10)

Session 19: Corporate Governance

1. Piskorski M J & Spadini A L. “Procter & Gamble: Organization 2005” (HBSP case
study, 2007)
2. Corporate Governance in Multi-business Firms (class lecture)

Module 5: Review
Session 20: Closing Thoughts
1. Collis D J & Montgomery C A. “Creating Corporate Advantage”, Harvard Business
Review, 1998
2. Review

23. Contemporary Strategic Issues and Managerial Choices (SM-261)

(Prof. Ranjan Das, VF CC: Prof. Ramya Tarakad Venkateswaran)

Programme : PGP

Name of the Course: CONTEMPORARY STRATEGIC ISSUES & MANAGERIAL CHOICES [CSIMC]

Core / Elective ………Elective……………………………………….Cap (for Elective) 45…………….

Credit: ……3.

Academic Year & Term: …Term VI, AY 2019-20……………………………..

Course Coordinator: Prof. Ramya T. Venkateswaran

Email: IIMC id: [email protected]

20
Instructor: Prof Ranjan Das ……………………….( Sessions: 20 … …)
Affiliation: ……………??…………..

Email: IIMC id: [email protected]

Instructor: ………NA……………….( Sessions …NA – …)

Affiliation: ……NA…………………..

Email: IIMC id: NA

Introduction to Course /Course Description

Course Objective and Key-takeaways from the course

– To sensitize the students and make them aware of contemporary, period-specific and relevant
strategic issues facing large and medium sized companies and identify implications, so far as
impact on future business performance is concerned, particularly considering the likely industry
attractiveness and competition in the coming periods, against the backdrop of such contemporary
developments

– To assist students in developing capabilities that are needed to identify relevant strategic
challenges, find sources thereof and measure the future risks and opportunities that are likely to
come arising out of such strategic challenges.

– To help students specify strategic options available at firm level to respond [including influencing
the developments] to such contemporary challenges and deliver superior performance along
desired metrics

– To equip students with skills required to evaluate strategic options identified, keeping in mind the
expectations of key stakeholders, and develop road maps for implementing the strategic choices
made

Learning Goals

1. Develop abilities of students to sense contemporary strategic challenges taking place at the
intersection of industries, technologies, products and geographies, as soon as the same emerge
[or about to emerge] and size up the nature of impact [positive, neutral or adverse] on future
business performance.
2. Enhance capabilities of students to apply various functional and strategic management skills
already acquired by them through other Year 1 and 2 courses and encourage them take an eclectic
as well as holistic approach for developing required strategic and tactical actions, as necessary to
deliver superior performance under the changed/ changing circumstances.

21
 3. Develop students’ capacity to articulate their thinking and ideas through verbal and written
communications, at a professional (manager/consultant) level and deliver the same
4. Help students acquire capacity to apply their professional knowledge and skills to diagnose and
resolve business problems in actual organizational settings

International Components in your course (if any)

Most cases to be used will relate to business situations that cut across geographies, functions, products and
industries. Hence though there is no international visit or cross continent group exercises built in to the
design of this course, the perspective and content are out and out global in nature and students will benefit
a lot form the same.

Pre-requisites

• Students must have got a minimum B in the compulsory SM Course

Required Text Book(s):

Multiple articles and case studies have been specially selected on a variety of topics for inclusion in this
course on Contemporary Strategic Issues. No single textbook will cover the diversity of topics included in
this course. Hence no textbook is being proposed

Recommended Text Book(s)

• Business Models and Strategic Management: A New Integration By Francine Newth (Published by the
Business Expert Press)© 2012.

Course Pack Distribution to students

• A list of reading materials and cases – session by session for all 20 sessions [detailed below] - will be
distributed to the students by the MBA Office

Technology enabled learning component for your course

• Entire course material will be available 24x7 through LMS of IIM Calcutta
• For recording class participation [CP], faculty may use an online CP submission system which will be
visible to all students on real time basis during the concerned session itself.
• All in-class case exercises [done in groups] will be submitted online during the concerned session itself
• PPTs used by faculty will be available 24x7 through LMS of IIMC
• Faculty may explore opportunities to use virtual group discussion system [to be finalized later]

Session Plan

Topics on Intended learning Reference

contempora outcome
ry strategic
issues
1 Strategic • Definition and READ:
choices in meaning of • Faculty PPT [ covering converging-tech-trends and
converging converging strategic options available to operate in converging
industries industries industries] with open house discussion facilitated by
22
 • Identify drivers faculty
that leads to • https://www.wesrch.com/electronics/paper-
convergence of details/pdf-EL1AB9000GTJG-six-converging-technology-
industries trends-driving-a-tectonic-shift-in-the-business-
• Strategic options consumer-ecosystem#page1,
to operate in
converging
industries
2 Do Do READ:
• Faculty PPT [ how future of marketing is affected by
convergence] with open house discussion facilitated by
faculty
• Convergence markets: Deutsche Bank research [Report
dated August 4, 2011] : Presentation by Groups of
Students -1, with open house discussion facilitated by
faculty
•
CASE-1:
• Apple Inc. in 2015 715456-PDF-ENG: In-Class Group
Exercise -1- open house discussion facilitated by
faculty
3 Platform • Understand Read:
based differences • Faculty PPT [ products and platforms, and new rules of
business between product strategy] with open house discussion facilitated by
model and and platform faculty
strategy businesses and • Thriving in an Increasingly Digital Ecosystem SMR531-
why most PDF-ENG Presentation by Groups of Students – 2 with
businesses can be open house discussion facilitated by faculty
turned into a CASE-2:
platform business • Amazon MH0053-PDF-ENG - open house discussion
facilitated by faculty
4 Do • Do Read:
• Winner-Take-All in Networked Markets 806131-PDF-
ENG Presentation by Groups of Students – 3 with open
house discussion facilitated by faculty
Case-3:
• Coursera 9-714-412 - open house discussion
facilitated by faculty
5 Strategising in • Understand READ:
a sharing concept of • Faculty PPT [concept of connected consumption and
economy connected sharing economy ] with open house discussion
consumption and facilitated by faculty
forces shaping • The On-Demand Economy 716405-PDF-ENG
the structure of Presentation by Groups of Students – 4 with open
sharing economy house discussion facilitated by faculty
CASE-4:
• UBER: An Empire in the Making? IMD784-PDF-ENG or
Uber: Leading the Sharing Economy W16087-PDF-
ENG - open house discussion facilitated by faculty
6 Do • Inputs for Read:
developing • Faculty PPT [ on adapting to the Sharing Economy] with
strategy for open house discussion facilitated by faculty
• The Networked Organization: How Smart Companies
doing business in
Turn Relationships into Competitive Advantage
23
 the sharing ROT314-PDF-ENG Presentation by Groups of Students –
economy 4 with open house discussion facilitated by faculty
Case-5:
• Airbnb: What´s Next? IES514-PDF-ENG - open house
discussion facilitated by faculty
7 Strategic • Understand how READ:
challenges in digitization, • Faculty PPT [ on how smart and connected product
digital era leading to greater digital Ubiquity will change industry structure and will
usage of AI, ML, call for different types of strategic thinking] with open
house discussion facilitated by faculty
Blockchain IoT
CASE-6:
etc, will affect • AccorHotels and the Digital Transformation: Enriching
industry structure Experiences through Content Strategies along the
in most Customer Journey IN1251-PDF-ENG - open house
industries. discussion facilitated by faculty
• Identify
orientation, skills
and information
required to
develop strategic
responses.
8 Do • Do READ:
• Thriving in an Increasingly Digital Ecosystem SMR531-
PDF-ENG Presentation by Groups of Students – 5 with
open house discussion facilitated by faculty
• To predict IOT-look at development of software industry
HBR Reprint HO2NYO FEB 25, 2016 Presentation by
Groups of Students – 6 with open house discussion
facilitated by faculty
Case-7:
• Autodesk in 2016: Transforming to Meet a Changing
Industry E613-PDF - open house discussion facilitated
by faculty
9 Future of • Identify areas READ:
work and where progress in • Faculty PPT [ on what companies are finding and doing
organization digital technology in AI, ML and Robotics era and how business processes
are learning to hack themselves; also, how to make a
can be leveraged
company machine learning ready in order to get faster
to offer better and more efficient] with open house discussion
customer service facilitated by faculty
and also make • What Every Manager Should Know About Artificial
operations faster Intelligence and Machine Learning: A Brief Overview –
and more Presentation by Groups of Students -7 [based on desk
efficient research] with open house discussion facilitated by
faculty
• What Every Manager Should Know About Robotics, AR
& VR and Blockchain: A Brief Overview – Presentation
by Groups of Students -8 [based on desk research] with
open house discussion facilitated by faculty
Case-8:
• Recruit Japan - In-Class Group Exercise - open house
discussion facilitated by faculty

24
1 Do • Do Read:
0 • Faculty PPT [on future of work and future of
management against developments taking in the areas
of globalization, robots and automation] with open
house discussion facilitated by faculty
• Automation will not replace people as your competitive
advantage – H029EA -W Presentation by Groups of
Students -12 with open house discussion facilitated by
faculty
• Collaborative intelligence : Human and AI are joining
forces HBR July – Aug 18 Presentation by Groups of
Students-9 with open house discussion facilitated by
faculty
CASE-9:
• EdGE Networks: Making HR Intelligent IMB607-PDF-ENG
- with open house discussion facilitated by faculty
1 Game of • Application of READ:
1 Business and game theory for • Faculty PPT [on Game of Business and strategic
Strategic developing interactions] with open house discussion facilitated by
Interactions faculty
strategy-in-
CASE-10:
practice • Bitter competition: The Holland Sweetener versus
NutraSweet [A] – to [G]: 794079 – 794085 [7 CASES] -
In-Class Group Exercise -1 followed by faculty inputs on
key issues
1 Do • Do Read:
2 • Game theory and business strategy [9-705-471] and Use
of game theory to shape strategy Reprint 95402 -
Presentation by Groups of Students – 10 with open
house discussion facilitated by faculty
Case-11:
• Boeing vs airbus UV - In-Class Group Exercise-2 followed
by faculty inputs on key issues
1 Managing • Identify, source READ:
3 strategically and measure • Faculty PPT [on VUCA and strategy Under uncertainty]
in the VUCA both risks and with open house discussion facilitated by faculty
world opportunities in • Predicting your competitors’ reactions Reprint 0904H
Presentation by Groups of Students -11 with open
VUCA world of
house discussion facilitated by faculty
business CASE-12:
• Roadmap for • ASUSTeK and Google Nexus 9-616-056 -- In-
managing in Class Group Exercise -3 followed by faculty
VUCA world of inputs on key issues
business
1 Sustainability • Learn why READ:
4 and corporate concern for • Faculty PPT [ on Strategy, performance and society]
shared value sustainability and with open house discussion facilitated by faculty
corporate shared • Ecosystem of shared value R1610G HBR Oct 16
value have Presentation by Groups of Students – 12 with open
positive impact house discussion facilitated by faculty
on business CASE-13:
performance • Environmental sustainability at REI - In-Class Group
• Know how to
25
 build an Exercise -4 followed by faculty inputs on key issues
ecosystem that
meets the
objectives in
these 2 areas
1 Diversity and • Understand why READ:
5 inclusion diversity and • Faculty PPT [on how diversity and inclusion can be
inclusion are sources of innovation and competitive advantage; also,
how leaders make the diversity work in large global cos
drivers for
] with open house discussion facilitated by faculty
innovation and • Diversity Doesn't Stick Without Inclusion H03FC8-PDF-
valuation ENGJuly – Aug 2018 Presentation by Groups of Students
• Identify key steps -13 with open house discussion facilitated by faculty
to achieve these • The other diversity dividend – HBR Presentation by
twin purposes Groups of Students -14 with open house discussion
facilitated by faculty

CASE-14:
• CIBC: Fostering an Inclusive Culture, Leading with
Gender W16569-PDF-ENG - In-Class Group Exercise
-5 followed by faculty inputs on key issues
1 Design • Know the basics READ:
6 thinking of design thinking • Faculty PPT [ Concept of design thinking] with open
• Understand how house discussion facilitated by faculty
• Innovation as a Learning Process: Embedding Design
to do design
Thinking CMR377-PDF-ENG Presentation by Groups of
thinking while Students 15 with open house discussion facilitated by
strategizing to faculty
gain competitive • Turning Design Thinking into Design Doing ROT020-PDF-
advantage ENG Presentation by Groups of Students -16
CASE-15:
• Evergreen Executive Education, LLC UV0919-PDF-
ENG In-Class Group Exercise or IDEO: Human-
Centred Service Design 615022-PDF-ENG - In-Class
Group Exercise-6 followed by faculty inputs on key
issues
1 Do • Do READ:
7 • Faculty PPT [concepts of framing and re-framing and
design thinking in action] with open house discussion
facilitated by faculty
• How Design Thinking Enables Success ROT072-PDF-ENG
Presentation by Groups of Students -17 with open
house discussion facilitated by faculty
Case-16
• Design Thinking and Innovation at Apple 609066-PDF-
ENG - In-Class Group Exercise -7 followed by faculty
inputs on key issues or
• How Design Thinking Turned One Hospital into a Bright
and Comforting Place H03AM0-PDF-ENG - In-Class
Group Exercise -7 followed by faculty inputs on key
issues or
• What Design Thinking Is Doing for the San Francisco
26
 Opera H02XCM-PDF-ENG - In-Class Group Exercise -7
followed by faculty inputs on key issues
1 Unfolding • Understand READ
8 geo-political how • Faculty PPT [on why companies too needs foreign policy
developments geopolitical - and guidelines for companies to navigating strategic
and their political developments like Brexit] with open house
development
impact on discussion facilitated by faculty
strategic and s [ such as • Brexit: Finally what happened [latest status of Brexit,
organizational Brexit, US and favourable/ unfavourable impact on companies and
choices under Donald industry – based on desk research by students]
Trump, ISIS Presentation by Groups of Student -18 with open house
and Middle discussion facilitated by faculty
East politics, • Brexit Could Deepen Europe's Digital Recession
H02ZW8-PDF-ENG Presentation by Groups of Students-
tension
18 with open house discussion facilitated by faculty
among CIS • Brexit and impact on world of business
countries and [https://www.theguardian.com/business/2018/nov/26/
internal brexit-uk-global-economy-eu ] - Presentation by Groups
tensions in of Students -18 with open house discussion facilitated
SAARC by faculty
• Companies Shouldn't Wait to Prepare for the Post-
countries]
Brexit World 038OZ PDF-ENG Presentation by Groups of
can affect Students-18 with open house discussion facilitated by
strategic faculty
choices at CASE-17:
firm level • Brexit [Business & Government Relations] 717028-PDF-
• Know how to ENG - In-Class Group Exercise -8 followed by faculty
navigate and inputs on key issues
manage/
influence
mega
development
s in such
areas

1 Do • Do READ:
9 • Faculty PPT [How America's new president will affect
the global economy] with open house discussion
facilitated by faculty -
https://www.theguardian.com/business/2016/nov/09/
donald-trump-new-us-president-america-global-
economy-china-mexico , 10 economic consequences of
Donald Trump's election win
https://www.theguardian.com/business/2016/nov/28/
donald-trump-economic-consequences-us-election-
growth, Economic impact of terrorism in the Middle
East]
• What Trump’s Trade War could mean for WTO and
Global Trade H04DZQ-PDF-ENG Presentation by Groups
of Students -19 with open house discussion facilitated
by faculty
• Three keys to shockproof your global supply chain –

27
 business and geopolitics-IIR194-PDF-ENG Presentation
by Groups of Students-19 with open house discussion
facilitated by faculty
CASE-18:
• Infosys Consulting in the U.S. (in 2010): What to Do
Now? MH0012-PDF-ENG - In-Class Group Exercise -
9 followed by faculty inputs on key issues
2 Attracting • Identify drivers of READ:
0 higher valuation • Faculty PPT [value Drivers, transformative business
valuation particularly those model for growing enterprise value through
organizational capital, the overvaluation trap] with open
which are fairly
house discussion facilitated by faculty
inimitable • Real Options Valuation when Multiple Sources of
• Designing a right Uncertainty Exist 201106-PDF-ENG Presentation by
mix of strategy Groups of Students -20 with open house discussion
and business facilitated by faculty
models built • Scale Effects, Network Effects, and Investment Strategy
611082-PDF-ENG Presentation by Groups of Students-
around
20
intangibles for
Case 19:
attracting higher • Baidu.com A197-PDF-ENG - In-Class Group Exercise
valuation with 10 followed by faculty inputs on key issues
special reference
to the
contemporary
world of business

Evaluation Components

• In-Class Group exercise – Cases: 30% [6 groups each @5 to 6 students – 10 in-class

exercises]
• Presentations of concepts and practices: 20% [ 10 groups each @2 to 3 students [with
different composition than the in-class exercise Groups and each group presenting twice]
• Class participation: 15%
• End term examinations: 35%

Online Course Management (moodle)/course web

• As per materials to be provided in the handout

24. Digital Strategy and Digital Transformation (SM-265)

(Instructor : Prof. Prarthan B. Desai, VF CC: Prof. Palash Deb)

Proposed Outline and Session Plan (Credits: 3; Class-Hours: 30)

28
Course Overview
Digital technologies are increasingly becoming ubiquitous and digitally enabled business
models are proliferating. On one hand, these business models have enabled emergence of many new
Fortune-500 companies. On the other hand, they have had disruptive impacts on many established
industries and established business models, and threatened the very survival of many conventional
businesses and organizations. Organizations need to devise new strategies, modify their existing
business models, and undergo strategic business transformations, in order to be able to take up new
opportunities available in this emerging business landscape, and/or successfully respond to the
existential threats posed by these business models.

This course will allow students to learn how CEOs and top management teams integrate
understanding of digitally enabled business models with strategy making and strategic transformation
process of businesses and organizations, with an aim to improve competitive advantage, enhance
business performance, and improve sustainability of their enterprises.

Conceptually, strategy making relies on three pillars: (i) Content (“What” of strategy: design
and formulation), (ii) Context (“Where” and “under which conditions” of strategies: the
contingencies), and (iii) Process (“How” of strategy: implementation and execution). This course aims
to equip students in the Content and Process of strategy making in the Context of proliferation of
digitally enabled business models.

A key message of the course is that it is the underlying strategy variables and the top
management choices related to these variables that drive the adoption and effectiveness of digitally
enabled business models and the associated strategic business transformation.

The course is divided into three modules: (a) Reimagining the Business, (b) Redefining a Part
of the Business Model, and (c) Strategic Leadership and Digital Transformation. The First Module,
titled “Reimagining the Business,” discusses redefining the Scope of the business (what business we
are in) and rethinking the Business Model (how to create and capture value) – “Strategy Content” –
in the wake of above-mentioned “Strategy Context”.

The Second Module, titled “Redefining a Part of the Business Model,” discusses effective
redesign of a specific part of an existing Business Model (“Strategic Content”) in the wake of the
above-mentioned “Strategy Context”, with an aim to enhance competitive advantage and business
performance. The Third Module, titled “Strategic Leadership and

29
Digital Transformation,” discusses the “Process” of strategic business transformation, and the role of
leadership, culture and organizational design in the transformation process, in the wake of the above-
mentioned “Strategy Context”.

Learning Objectives
□ To learn how CEOs and top management teams integrate understanding of digitally enabled
business models with strategy making and strategic transformation process of businesses and
organizations, with an aim to improve competitive advantage, enhance business performance, and
improve sustainability of their enterprises.
□ To learn the Content (strategy design and formulation) and Process (strategy implementation and
execution) of strategy making in the Context of proliferation of digitally enabled business models.
□ To learn the driving role of underlying strategy variables and the top management choices related to
these variables in the adoption and effectiveness of digitally enabled business models and the
associated strategic business transformation.
□ The course will teach students analytical approaches in making strategic decisions and taking
actions such as follows:
o Assessment of external consistency and internal consistency of an existing business
model in the wake of proliferation of digitally enabled business models in the market
(often transcending across conventional industry boundaries)
o Deciding which aspects of a conventional business model may be altered, de-
emphasized, or dropped
o Deciding which aspects of a conventional business model may be retained and
enhanced
o Blending a digitally enabled business model with a conventional business model
o Ensuring internal consistency in the cases of partial business model changes
o Overcoming organizational inertia and driving strategic business transformations

Pedagogy
Learning will primarily be facilitated through discussion of cases, as the concepts and techniques of
this course are best understood through practice. The effectiveness of case teaching method depends
on both the instructor and the participants. The students, as participants to the case discussion, have
the responsibility to prepare for the case prior to the session, and actively participate in the case
discussion.

Evaluation
Class Participation: 10%
Quiz/Assignment: 10%
Group Project: 40%
End-term Examination: 40%

Class Participation

Effective class participation requires the students to:

30
 □ Prepare well for the class (summarized points of view, based on case analysis and
readings)
□ Participate meaningfully in the class discussion (clear and concise articulation of one’s point of
view, without repeating / paraphrasing what someone else has already said)
□ Understand differing points of view
□ Synthesize learning from the discussion

Class participation gives participants the opportunity to practice and develop their ability to add value
to a discussion. So prepare well, and do not hesitate to participate in the class discussion.

Group Project

Note: This is a basic guideline. A more detailed guideline will be provided later.

□ The project will be based on secondary data analysis. No primary data collection will be required.
□ The students will be required to identify emerging business models taking advantage of digital
technologies in specific industries, sectors, or domains.
□ They will be required to analyse the impact of these business models on conventional business
models in those industries, sectors, or domains.
□ They will be required to recommend new strategies for organizations having those conventional
business models, with an aim to improve competitive advantage, enhance business performance,
and improve enterprise sustainability of the organizations having those conventional business
models.
□ They will need to identify potential challenges in implementation of their recommendations, and
provide an execution roadmap for successful strategic business transformation of these
organizations.

Course Material
□ Textbook for the course: Driving Digital Strategy: A Guide to Reimagining Your Business
by Sunil Gupta, Harvard Business Review Press (2018)
□ Session readings and cases available in the course pack.

Contacting the Instructor

Do not hesitate to approach the instructor with prior appointment for clarifications or additional
inputs.

31
Session Plan
Note: Duration of each session: 1.5 hours

MODULE-1: REIMAGINING THE BUSINESS

Module objective: To learn (i) effectively redefining the Scope of the business (what business we are
in) and (ii) rethinking the Business Model (how to create and capture value).

Sessions-1&2

Readings
□ Textbook: Introduction
□ Textbook: Chapter-1 – Business Scope

Cases
□ Case-1: Amazon in 2019 (HBS Case 9-514-025)
Discussion Questions: (1) What business is Amazon in? Is it spreading itself too thin or is it well
positioned for the future? (ii) Who are Amazon’s competitors? And what is Amazon’s competitive
advantage? (iii) What should traditional retailers like Best Buy do to compete with Amazon?

□ Case-2: Reinventing Best Buy (HBS Case 9-716-455)

Discussion Questions: (i) What were the strategic challenges facing Best Buy in 2012? Why was the
company finding them hart to respond to? (ii) What did Joly see as Best Buy’s key strengths and
weaknesses? Do you agree with Joly’s initial diagnosis? (iii) Do the Renew Blue goals address the
issue? Which initiatives in Renew Blue made a strategic difference?
(iv) What advantages does “multi-channel” retailing offer Best Buy? (v) Has Joly done
enough? How well Best Buy is doing compared to Amazon in 2017? Is Building the New Blue a
game changer?

Sessions-3&4

Readings
□ Textbook: Chapter-2 – Business Model

Case:
□ Reinventing Adobe (HBS Case 9-514-066)
Discussion Questions: (i) What should Adobe do in response to customer complaints? (ii) Why did
Adobe launch Creative Cloud? (iii) What would be the revenue impact of Creative Cloud? (iv) What new
capabilities would Adobe need for Creative Cloud to be successful?
(v) Why did Adobe move into digital marketing, and what were the risks of this move?

Sessions-5&6

Readings
□ Textbook: Chapter-3 – Platforms and Ecosystems

32
 □ Hagiu, A. (2013) Multi-Sided Platforms: Foundations and Strategy, HBS Note (9-714-436)

Case:
□ Goldman Sachs’ Digital Journey (HBS Case 9-518-039)
Discussion Questions: (i) Why did GS revenues and income drop significantly in the last 10 years? (ii)
What did Lloyd Blankfein do to manage this decline? (iii) Is it a good idea to open SIMON to
competitors? Does it reflect a shift in GS strategy? (iv) Can GS become a platform? How is a platform
business different from a product-based business? (v) What organization structure did Blankfein put in
place to manage this transformation?

Sessions-7&8

Readings
□ Textbook: Chapter-3 – Platforms and Ecosystems (Same as sessions-5&6)
□ Williamson, P.J. and Meyer, A.D. (2012) Ecosystem Advantage: How to Successfully Harness
the Power of Partners, California Management Review, 55(1): Fall 2012 (CMR 521)

Case
□ GE and the Industrial Internet (HBS Case 9-614-032)
Discussion Questions: (i) How would you assess GE’s new initiative? How will it impact value
creation and value capture by GE? (ii) What was the rationale for transiting from a product based model
to a platform based model? (iii) What are the next steps? Develop a specific action plan for Beth
Comstock and William Ruh to work together to accelerate Industrial Internet efforts over the next five
years. (iv) Who will be GE’s most feared competitor in five years? Why?

MODULE-2: REDESIGNING A PART OF THE BUSINESS MODEL

Module Objective: To learn effective redesign of a specific part of an existing Business Model. A key
message of this module is that partial business model transformations are successful only when
internal consistency has been ascertained with the unaltered part of the business model.

Sessions-9&10

Readings
□ Textbook: Chapter-5 – Operational Excellence (pages 97-110)

Cases:
□ Case-1: Building the Digital Manufacturing Enterprise of the Future at Siemens (HBS Case 9-616-
060)
□ Case-2: Digitalization at Siemens (HBS Case 9-717-428)

33
 Discussion Questions: (i) How would you assess the new initiatives at Siemens? (ii) Compare the
initiatives at Siemens with those at GE. What are the similarities? What are the differences? Which
approach is more effective – high centralization or high decentralization?

Sessions-11&12
Readings
□ Textbook: Chapter-5 – Operational Excellence (pages 110--115)

Cases
□ Case-1: Deutsche Bank: Pursuing Blockchain Opportunities (A) (HBS Case 9-817-100)
Discussion Questions: (i) How did the Deutsche Bank managers lay the foundation for the new
initiatives? (ii) How should Deutsche Bank move ahead to start creating value from these
initiatives? Which key issues should it consider?

□ Case-2: Maersk: Betting on Blockchain (HBS Case 9-518-089)

Discussion Questions: (i) In your estimation, how effective would be the new initiatives Maersk for
creating and managing Global Trade Digitization platform? (ii) What problems do you anticipate in
working with IBM?

Sessions-13&14

Reading
□ Textbook: Chapter-6 – Omnichannel Strategy

Case
□ Accor: Strengthening the Brand with Digital Marketing (HBS Case 9-315-138)
Discussion Questions: (i) Assess Accor’s current strategy. What is the value of the OTA relationship
to the company and should it continue to work with this channel? How should Accor manage this channel
relationship? (ii) What does Room Key add to the strategy? Is it a good distribution partner for Accor?
Why or why not? (iii) Should Accor become an equity partner in Room Key? Why or why not? Should
Accor become a commercial partner of Room Key? Why or why not? (iv) What does Room Key need to
do to be successful long term? What should Room Key’s strategy look like and where should the
company invest its money? How might Accor help Room Key to be successful? (v) Where else along
the customer purchase journey should Accor focus its digital efforts? Which parts of the value chain are
ripe for intermediation or disintermediation? Who else is playing in that space and how well can Accor
collaborate with and/or compete against them?

Sessions-15&16

Readings
□ Textbook: Chapter-7 – Acquiring Customers
□ Textbook: Chapter-8 – Engaging Customers
□ Textbook: Chapter-9 – Measuring and Optimizing Marketing Spend

Case:

34
 □ Marketing Transformation at Mastercard (HBS Case 9-517-040)
Discussion Questions: (i) What is Raja trying to do and why? (ii) What is “digital engine” and how
does it work? (iii) Are Mastercard’s marketing programmes working? Should Ajay Banga, Mastercard’s
CEO, increase the budget for marketing? (iv) What should Raja do next?

Post-Module-2 Readings
□ Textbook: Chapter-4 – Rethinking R&D and Innovation
□ Textbook: Chapter-12 – Skills, Capability, and Talent Management

MODULE-3: STRATEGIC LEADERSHIP AND DIGITAL TRANSFORMATION

Module Objective: To learn the process of strategic business transformation, and the role of
leadership, culture and organizational design in the transformation process.

Sessions-17&18

Readings
□ Villanueva, J. and Ferrandiz L. (2017) 3 Steps to Market Driven Digital Transformation, IESE
Insight, 32: First Quarter 2017.
□ Andriole, S.J. (2017) Five Myths About Digital Transformation, MIT Sloan Management
Review, 58(3): Spring 2017 (SMR 601, Reprint 58317)
□ Kanter, R.M., Leadership for Change: Enduring Skills for Change Masters (HBS Note 9-304- 062)
□ Kanter, R.M., The Change Wheel: Elements of Systemic Change and How to Get Change
Rolling (HBS Note 9-312-083)

Cases:
□ Case-1: The Weather Company (HBS Case 9-314-083)
Discussion Questions: (i) What are the core assets of The Weather Company when David Kenny joins in
2012? (ii) What are the challenges facing The Weather Company? (iii) What are the core assets of
company after almost two years of David Kenny’s leadership in early 2014? (iv) What skills did Kenny
use to implement his vision? How would you assess his leadership skills? (v) What are the results as of
January 2014? Are the changes complete and sustainable or not? Going forward what should Kenny be
most concerned about and what should he emphasize now?

□ Case-2: Whither the Weather (Company): Forecasting 2016 (HBS Case 9-316-143) Discussion
Questions: (i) Discuss which of the 7 skills of change masters David Kenny utilized from
2014 until 2016. Did he miss opportunities, and if so, which ones? (ii) Was a split of the company
into distinct television and digital units inevitable? Why or why not?
(iii) What were the internal and external challenges faced by David Kenny in managing the two
businesses? How did he confront them? How would you have done differently? (iv) Was the decision to
form a partnership with IBM and eventually get acquired appropriate? What potential problems do you
anticipate for The Weather Company post acquisition?

35
 Sessions-19&20

Readings
□ Textbook: Chapter-10 – Managing Digital Transition
□ Textbook: Chapter-11 – Designing an Organization for Innovation
□ Kanter, R.M., Teaching Old Companies New Tricks: The Challenge of Managing New
Streams Within the Mainstream (HBS Note: 9-303-083)

Cases:
□ Case-1: Axel Springer in 2014: Strategic Leadership of the Digital Media Transformation
(Stanford Case E-522)
Discussion Questions: (i) How would you evaluate Mathias Dopfner’s strategic leadership in the face of
digital revolution? What key strategic actions did he take and how were they different from how most
other publishers approached the situation? How successful is the company’s digital transformation as it
stands in 2014? (ii) What insights were incorporated into the transformation of Axel Springer from
Silicon Valley? (iii) How should Dopfner navigate the dynamics between Axel Springer’s local (e.g.,
classifieds) and international (e.g. advertising) interests? (iv) Beyond 2014, who is best positioned to take
advantage of the evolving digital landscape: the old media content experts or the new media
technology experts? Why? How can Excel Springer effectively compete against Google and other
firms that may negatively impact the “Fair Search and Fair Share” environment referenced in the case?
(v) What would be the distinctive competencies necessary for Axel Springer to occupy, defend, and
leverage an advantageous position in the emerging media landscape?

□ Case-2: Axel Springer 2016: From Transformation to Acceleration? (Stanford Case E-610)
Discussion Questions: (i) As of 2016, how well Axel Springer turned disruptive technological
change into sustainable change within its core German market? (ii) What are the three most
important things that Axel Springer did to create sustainable digital change? (iii) How should
Excel Springer ensure that it stays ahead of future disruptive developments within the global
media sector, such as increasing influence of social media? (iv) Can a major German publisher
such as Axel Springer make a dent in English- speaking markets such as Britain and America? If
so, how? (v) What are Axel Springer’s biggest threats from both a technology and company
perspective? What specific action plan would you suggest do direct how management should
address these threats? (vi) What is Axel Springer’s “Minimum Winning Game” for the next 24
months? Why?

Recommended Supplementary Readings

The following supplementary readings may enhance learning of the students. These are not mandatory
readings. They may not be included in the course pack.

□ McAffe, A. (2011) What Every CEO Needs to Know About The Cloud, Harvard Business
Review, November 2011 (Reprint R1111J)
□ Zhu F. and Furr N. (2016) Products to Platforms: Making the Leap, Harvard Business
Review, April 2016 (Reprint R1604E)

36
□ Eisenmann, T., Parker, G. and Van Alstyne M.W. (2006) Strategies for Two-Sided Markets, Harvard
Business Review, October 2006 (R0610F-PDF-ENG)
□ Porter, M.E., and Heppelmann, J.E. (2014) How Smart, Connected Products Are Transforming
Competition, Harvard Business Review, November 2014 (Reprint R1411C)
□ Iansiti, M. and Lakhani K.R. (2014) Digital Ubiquity: How Connections, Sensors, and Data Are
Revolutionising Business, Harvard Business Review, November 2014 (Reprint R1411D)
□ D’Aveni R. (2015) The 3-D Printing Revolution, Harvard Business Review, May 2015 (Reprint
R1505B)
□ Porter, M.E., and Heppelmann A. and Morse, G. (2017) Manager’s Guide to Augmented Reality,
Harvard Business Review, November-December 2017, (Reprint R1706B)
□ An Introduction to Blockchain (HBS Note UV7356)
□ Tapscott D. and Tapscott A. (2016) The Impact of the Blockchain Goes Beyond Financial Services,
Harvard Business Review, May 2016 (Reprint H02VXH)
□ Note on Blockchain and Bitcoin, 2017 (HBS Note 9-718-433)

37