General Management 1

This subject has the following teaching availabilities in 2015:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Data Analysis:

Contemporary business is awash in data. Modern business processes and activities usually involve multiple streams of data from areas as diverse as marketing activities, operational processes and financial activities. Therefore, managers are frequently confronted with how to harness these to understand their business better, so that they can make more informed decisions. This subject provides the fundamental quantitative skills necessary for an MBA student to extract information from data, through quantitative analysis, to make better managerial decisions. Students will be familiarized with the tools of quantitative analysis, develop the necessary skills for analytical thinking and a quantitative mind set in measuring performance. The fundamental quantitative skills from this subject provide a foundation to the advanced subjects within the MBA and provide students an analytical framework towards solving managerial problems later in their career.

Financial Reporting and Analysis:

Accounting is the “language of business", and accounting information is the basis for performance measurement, business contracting, and most operating, investing, and financing decisions that managers make. Financial accounting information affects how individuals outside a company perceive that company, and by extension, the resources available to the company to accomplish its objectives.An understanding of and the ability to use financial accounting information will be essential to your success as a professional manager.

This subject is designed to provide students with foundation knowledge about external financial reporting by for-profit entities. This foundation knowledge not only provides the basis for correctly interpreting and using accounting information provided internally to managers for managerial decision making, but also provides the basis for using financial statements for more externally-focused judgments and decisions (e.g., assessing a firm’s intrinsic value or to assess a firm’s strengths and weaknesses relative to competitors).

People Management:

This subject aims to provide students with analytical skills and tools to identify, diagnose and solve people- related challenges in organisations. The subject focuses on examining different theoretical perspectives and concepts underlying individual, group and organisational behaviour and teaching students how to apply these concepts in a practical manner to improve performance.

Economics for Managers:

Managerial economics is designed to provide you with the tools of economic reasoning for developing and evaluating strategic business options and to make better choices. To this end we discuss and develop the fundamental economic concepts and analytical skills required in managerial and strategic decision-making. Applications lie in bargaining, price setting, the analysis of different market environments, and the analysis of situations with asymmetric information. Many subjects—and in particular business strategy, finance, marketing, and negotiations—build upon the material learned in Managerial Economics.

Personal Effectiveness 1:

The “Personal Effectiveness Program” (PEP) runs across the three core modules and is designed to help students develop the skills and knowledge required to effectively manage the early stages of their career. PEP identifies specific needs of each individual student and then provides ongoing support, training, and opportunities to practice and perfect these skills. PEP focuses on three core areas.
1. Communication skills: These skills include effective presentations, verbal communication, written communication, and public speaking
2. Career development skills: These skills include case practice, interview skills, CV writing, networking, and business etiquette
3. Team skills: These skills include managing conflict, cultural awareness, giving and receiving feedback, and resilience.

Entrepreneurial Mindset 1:

The “Entrepreneurial Mindset Program” (EMP) runs across the three core modules and is designed to help students develop an entrepreneurial mindset. EMP helps students develop the knowledge, skills, and attributes to identify and evaluate value creation opportunities, view obstacles, problems, and failure as opportunities, modify opportunities to make them viable, and sell ideas to others.

Data Analysis:

On completion of this subject, students should be able to:

• Apply quantitative methods in management decision making processes
• Apply the principles of statistical variation when considering statistics from data
• Apply regression modeling techniques to gain a better understanding of the complex relationships between business variables
• Possess an analytical mindset in solving business problems
• Possess solid computational skills in Excel

Financial Reporting and Analysis:

On completion of this subject, students should be able to:

• Appreciate the measurement and recognition difficulties inherent in financial reporting, as well as the role of judgment in the preparation of financial statements.
• Explain in your own words the purpose and content of the balance sheet, income statement, comprehensive income statement, shareholder equity statement, and statement of cash flows, as well as how these five financial statements fit together and how they relate to the company’s financing, investing and operating activities.
• Read, accurately interpret, and discuss financial statements and selected notes.
• Discuss fundamental accounting concepts and issues using everyday language.
• Perform basic analysis of a company’s profitability and provide a reasoned basis for the conclusions drawn from the analysis.

People Management:

On completion of this subject, students should:

• Understand the link between management decision and individual, team and organisational performance outcomes
• Be skilled in analysing, interpreting and offering solutions to people related problems and issues in organisations;
• Develop skills in identifying factors that contribute to team development and effectiveness;
• Understand how culture and organizational design impact on organisational processes and performance
• Understand what motivates people at work and the features of work settings that contribute employee-related outcomes
• Understand the importance of performance feedback as a means to enhance employee outcomes and the practices and behaviours needed for effective performance feedback

Economics for Managers:

• Apply fundamental economic analytical skills to managerial decision for solving business problems
• Correctly identify and evaluate different cost categories as drivers for managerial decision-making
• Accurately predict firm behaviours and market outcomes for different market environments such as those characterized by bargaining between agents, oligopoly structures, and commodity markets
• Apply fundamental insights from game theory to business situations
• Effectively design strategies involving product differentiation and price customization for segmented consumer markets
• Predict market dynamics in competitive markets and in markets with entry barriers

Personal Effectiveness 1:

• Appreciate the importance of communication, career development, and team skills in career success.
• Have identified communication, career development, and team skills that need improvement.
• Be more comfortable making public presentations.
• Be more comfortable receiving feedback.
• Be able to create an effective CV.
• Have improved their business etiquette.

Entrepreneurial Mindset 1:

• Identify potential business opportunities
• Evaluate the viability of potential business opportunities
• Identify ways to modify business opportunities to increase their viability

Data Analysis (20% of overall subject):

• 6 x individual assignment (150 words each), throughout subject (10% of component);
• Syndicate assignment (700 words), due week 6 (30% of component);
• Final exam (2 hours), at end of subject (60% of component). Hurdle requirement.

Financial Reporting and Analysis (20%):

• Contribution to class learning, throughout subject (10%);
• 6 x quizzes (10 minutes each), throughout subject (20%);
• 5 x syndicate assignments (100 words each), throughout subject (20%);
• Final exam (2 hours), at end of subject (50%). Hurdle requirement.

People Management (20%):

• Class preparation and discussion (equivalent to 600 words), throughout subject (30%);
• Syndicate assignment (500 words), due week 5 or 6 (20%);
• Syndicate presentation (500 words), due week 5 or 6 (15%);
• Final exam (2 hours), at end of subject (35%). Hurdle requirement.

Economics for Managers (20%):

• Contribution to class learning, throughout subject (10%);
• 5 x quizzes (15 minutes each), throughout subject (30%);
• Final exam (2.25 hours), at end of subject (60%). Hurdle requirement.

Personal Effectiveness 1 (10%):

• Contribution to class learning, throughout subject (10%);
• Syndicate presentation (500 words), throughout subject (40%);
• Individual assignement (600 words), due at end of subject (50%). Hurdle requirement.

Entrepreneurial Mindset 1 (10%):

• Contribution to class learning, throughout subject (10%);
• Syndicate presentation (500 words), throughout subject (40%);
• Individual assignement (600 words), due at end of subject (50%). Hurdle requirement.

Hurdle requirement: students must pass each component.

This subject is not available as a breadth subject.