This course is intended to remove the veil that often shields Directors and Boards from public scrutiny and delve into the intricacies of "governance." The two key principles that governance experts tout as strengths — transparency and accountability cannot be fully appreciated unless we understand the role that Directors and Boards play in organizations.

The course aims at providing participants with the most relevant tools useful to understand the current international business environment. In particular, participants will develop the ability to handle basic macroeconomic instruments of analysis and develop some forecasting ability about future macroeconomic trends. A particular attention will be devoted to the evolution, drivers, and consequences of globalization as well as to developments in global financial markets in the post-pandemic context. A specific focus will be devoted to China.

In the last decades, corporate governance became a popular and increasingly relevant topic. Corporate governance issues — e.g., transparency and efficiency of ownership and group structures, board of directors' composition and effectiveness, and their link with performance — are debated by media, investors, managers, directors, consultants, authorities, politicians, and scholars from different disciplines (e.g., finance, economics, law, management, etc.). Despite this growing interest on the topic, there is not a clear understanding of what the core governance principles are, and how they should be implemented by companies.

The course presents the main corporate governance issues, the two dominant approaches to corporate governance (shareholders' versus stakeholders' views), and the governance mechanisms aimed at addressing these issues. The module helps participants develop: (i) a critical understanding of ownership structures and governance mechanisms in various types of companies; (ii) an ability to correctly design the most appropriate governance mechanisms for different types of ownerships.

The course takes students on a journey from the origins of the sustainable development movement through to the present day including the important global conferences and underlying sustainability principles and practices. We will examine the exponential pace of change being driven by 4th Industrial Revolution technologies and where disruption is happening in value chains. Open innovation is the new normal which is underpinned by speed, collaboration, and failing fast to win big.

Thinking differently from a creative rather than a competitive mindset focuses on customer experiences that are grounded in purpose and values that brings out the best performances in businesses, teams and stakeholder engagement. It also acquires, retains, and grows the best employees, customers, suppliers, and partners. Great leadership and good governance are the foundations of process, structure and organizational strengths that guide sustainable businesses.

The Capstone Project course is designed for two purposes: 1) To assist students translate the course learnings into concrete applications and behavioural adjustments that will help them be more effective in their jobs, careers, and lives. 2) To assist students translate comprehensive data, analytical insights, and recommendations into compelling communications that clearly summarize complex ideas into convincing stories and logics.

This course will focus on global best practices in health systems. It will also explore nine major global topics in health system delivery: global trends, workforce crisis, integrated care, primary care, clinical quality, universal healthcare, leadership and change, digital health, and the impact of COVID-19 on health systems worldwide. In addition, guest speakers from high performing health systems will present their experiences to complement these themes.

This course will introduce advanced and emerging topics in digital health. This includes the 1) the electronic health record, AI, and the regulation of health information technology, 2) the digital-first model of care and digital therapeutics, 3) the implications of the AI in healthcare delivery, and (4) contemporary design methods for implementing digital health.

This course will demonstrate the fundamentals of data analysis, data visualization, and how to the tell the story of your data. Students will discover how to use the concepts, skills, and methods to find the key message of the data and how to use it to create an interesting, engaging, and impactful business story. The course will teach students how to use Microsoft Excel more competently to analyze data, create models, and generate insights. It will also introduce the fundamental theories of visual communication design applied in data visualization and visual analytics. Students will become familiar with data-driven decision-making workflows and effective storytelling best practices. Major areas for discussion include visual design principals, data structures, dashboarding, and technical tutorials using the Tableau software.

The integrative capstone project is designed to help you apply the learnings from the GEMBA-HLS program to a practical application. You will identify a project that is important for yourself and, where appropriate, for your employer. Projects can be single-person or small group undertakings, based on student preferences and faculty supervisor approval. The projects will draw from concepts and applications in the GEMBA-HLS courses, supplemented by additional relevant materials that you and the lead faculty identify. The goal of the project is to sharply delineate a meaningful problem and then develop a viable solution for the problem.

Middle and senior managers are increasingly responsible for rapidly managing and resolving competing claims for the organization's limited resources (financial and human). Doing so requires advanced capabilities at managing cross-functionally and between business units. Critical, therefore, are the sophisticated leadership and action skills required to translate one's technical knowledge into effective actions in order to implement strategy. Equally important are the "systems" managers must design, maintain, and update in order to facilitate the implementation of the firm's strategy. This is essential to realizing corporate renewal, which ultimately it has to do with making change happen.

Thus, leading change processes is a key to achieve personal and business success. Both parties should be interested in this interplay. Managers, whose careers can benefit being acknowledged as transformation agents, and their respective organizations, since they need to innovate and adjust to market dynamics better than their competitors. The tension toward exploring new sources of revenues and implement continuous improvements in the organization does not happen by chance: it is instilled by leaders that understand the importance of change.

Renewal strategies have to overcome and manage resistances to change. On the surface, people are admired by the notion of "progress," "innovation," and "transformation," but what research and management practice has shown is that resistance and organizational inertia delay projects, slow down the implementation, and dilute the expected benefits of the new strategies. Moreover, many company transformations are today forced by the adoption of large-scale digital technologies that incorporate a different view of how company processes should be handled as well as the interactions between the organization and its environments (e.g., customers and suppliers).

Middle and Senior Managers are increasingly responsible for rapidly managing and resolving competing claims for the organization's limited resources (financial and human). Doing so requires advanced capabilities at managing cross-functionally and between business units or divisions. Critical, therefore, are the sophisticated leadership and action skills required to translate one's technical knowledge into effective actions in order to implement strategy. Equally important are the "systems" managers must design, maintain, and update in order to facilitate the implementation of the firm's strategy.

This class focuses on microeconomics and its applications to managerial decisions. We will deal with demand, costs, perfect competition, monopoly, oligopoly, and introduce game theory, agency theory, and imperfect information. Managerial economics is fundamental to finance, marketing, strategy, organizational behaviour, and nearly every other field of business. It will therefore support your understanding of these areas and be relevant to your career moving forward.

An overriding objective of the course is to develop managerial perspectives on macroeconomic and global issues. Students will develop an understanding of aggregate output and cyclical patterns in GDP as well as factors that determine employment, prices, interest rates, and exchange rates. In an increasingly globalized economy, developments globally are intertwined with these questions and must be considered. Therefore, both national and international macroeconomic factors will be covered. The conduct of fiscal and monetary policy will be discussed. There will be special consideration given to the recession caused by the 2020 pandemic, with a comparison to the 2008 global financial crisis, as well as considerations given to high inflation and the aggressive interest rate hikes pursued by monetary authorities globally. The course also highlights how the emergence of ESG is impacting the strategies deployed by business, and how firms that ignore ESG will be left behind. Brought to the macro level, how firms within countries address ESG issues will have a material impact on the economy's performance.

The GEMBA-HLS study tour course will introduce you to outstanding healthcare and life sciences organizations in our residency locations and, via teleconferences, throughout the world. We will schedule visits and discussions with provider organizations, companies, public agencies, and other actors during each residency. The goal of the study tour is to link the material from your classroom to the practical opportunities and challenges that healthcare and life sciences organizations face as they attempt to create value for patients and customers, while also creating financially viable competitive advantages for themselves.

Managers and executives in all industries use financial information to inform and evaluate their actions. Being a leader in healthcare and life sciences means facing significant financial complexities and pressures. As a result, financial fluency and confidence are critical for effective leadership. In this course, we aim to build up your financial abilities and confidence.

To do this, we will develop a framework for understanding and evaluating the financial health of organizations by using financial statements. We will connect this framework to other courses in the program, building especially on the work you have done in Strategy and preparing you for Finance. Our approach will be to "learn by doing" and we will analyze the financial statements of key global organizations impacting healthcare and life sciences. While we will mostly focus on for-profit, publicly traded companies, our framework will generally hold for other organizations as well.

Ultimately, this course will expand your leadership toolkit by developing your financial skills and confidence. It will empower you to understand and shape the narratives around financial information — helping you make better decisions and communicate more effectively with other executives, your board(s), funders, and other key stakeholders.

The course will consist of four modules. The first module (financial analysis) will present a comprehensive framework for ratio analysis where a firm's operations are separated from its financing to better understand the true drivers of profitability and risk. The second module (industry and strategic analysis) will illustrate why it is important to understand industry structure and a company's strategic choices. The third module (accounting analysis) will provide a framework to understand and evaluate a firm's accounting and disclosure choices and provide techniques to adjust financial statements to ensure better comparability. The fourth module (prospective analysis) will discuss techniques for integrated forecasting and will apply the insights from the earlier modules to generate forecasts for a firm. These forecasts will then be used to value a firm.

This course lays the Rotman School foundation for a model-based approach to business problems. This foundation will be laid onto three footings: 1) Understanding the nature and role of models in management thinking; 2) A scientific approach to solving business problems; 3) Analyzing existing models to inform the problem-solving process.

The course will apply some principles from logic, cognitive science, behavioural decision making, and rational choice theory to develop a framework to improve understanding of the thought processes that underlie actions taken by leaders, and the feedback gained from the resulting outcomes that allow leaders to update and refine their thinking. This is a course about thinking.

The course introduces participants to the concepts and ideas of Finance as a management tool. Based on a thorough understanding of capital markets and institutions, we develop and practice decision making tools required to guide a modern institution in a financially sound manner. We cover investment and financing choices, the valuation of projects and firms, as well as the measurement and management of financial risk. We explore ideas of interest rates, loans and bonds, equity financing, as well as investment management tools. A significant amount of time will be spent on project evaluation and using financial information to guide corporate strategy.

This course builds on RSM5301H Finance 1. It introduces additional decision-making paradigms and provides further practical applications. Topics include Management Objectives, Capital Structure, Capital Raising, Payout Policy, Mergers & Acquisitions, and Valuation. The goal is to learn how to understand and analyze key financial decisions made by corporations.

The course will be challenging. Each student individually is expected to acquire the basic skills of financial analysis and decision making. In addition, the course encourages group learning so that all can benefit from the wide range of expertise that class members bring to the program. For each session, students are expected to be prepared for class and to participate in class discussions. Class participation is an integral part of the learning process as the course will be interactive and applied. We will discuss applications, case studies, and practical examples throughout the course. I encourage you to send me current topics of interest to discuss in class.

This course continues from Finance I with a focus on corporate finance. We will study how risk affects expected returns and project valuation. The evaluation of risk and the subsequent required return are central topics, and we will also discuss corporate finance decisions including capital structure and dividends. We will spend time on related topics as time permits.

The course will focus on analyzing M&A and PE deals primarily from the perspective of finance and strategy, integrating issues from economics, accounting, law, and organizational behaviour where appropriate. Successful deal-makers and advisors not only evaluate individual transactions, but also analyze capital market conditions and industry developments. Accordingly, we will examine past and current trends in financial markets and in specific industries, the motivation and comparative advantage of different players in these settings, and factors that can influence them. The course will bring in the perspectives of various key players, such as shareholders and other stock market participants, regulators, management, creditors, and other stakeholders.

This course examines sustainability issues faced by global corporations. Some of these issues reside "within" the organization itself, some are "external" but affect the operating environment and competitive landscape of the firm. All issues are related back to the "Shareholder Value" proposition of the firm that is central to both its Financial Position and its Social License to Operate in free market economies. The course examines issues related to climate change and the transition to a low-carbon economy, as well as other environmental and social topics and how these topics impact global leaders in the business world.

This is a sustainability course with a distinct "finance" lens, but it is not aimed specifically at students with mostly technical finance skills or highly technical finance career goals. There will be a bit of math, but not too much. In the end, it is about creating and protecting "value" in large firms while being conscious and responsive to the need to also create a positive "impact" on the world (or at least minimize any negative impact). A big emphasis is on uncompensated Economic Externalities and how markets and traditional capitalist incentive systems struggle to lead to allocative efficiency and social welfare in these circumstances. A background in sustainability is not required to succeed in this course, but an interest is helpful. The course is a mix of cases and lectures, including discussions and (potentially) guest speakers.

This course aims at illustrating how to design and manage the operating system of a company. At the end of the course participants will be able to analyze the production system of an enterprise, to assess its overall fit with the strategic objectives and with the competitive strategy of the firm and to propose redesign options. Participants will be endowed with tools and principles suitable for focusing on business priorities and identifying possible gaps between the actual performance of the operating system and the expected one. Furthermore, the course will provide participants with an overview of the main levers that managers can use to shape (or re-shape) the structural and organizational aspects of the operating system in order to leverage it as a competitive weapon. The course introduces also an overview of the Lean Manufacturing principles and gives participants the opportunity to apply a Lean Assessment Tool.

This course is focused on establishing a framework for creating and managing customer value, and emphasizing the key linkage between customer value and long-run firm value. While the course is formally called Marketing 1, we will also refer to it as Managing Customer Value (or MCV). The act of managing customer value has several key components. First, it is critical to understand and articulate what customer value is, and how it can be created by the positioning of products and services. Second, it is important to relate this to customer behaviour and specific customer-related actions that the organization can take in order to create and manage value over time. Third, it is important to analyze customer needs in the relevant market context. Finally, it is necessary to apply these ideas in a changing marketplace.

The MCV course is structured accordingly. We begin with a discussion of the fundamentals of the strategy for managing customer value, which entails the understanding of segmentation, targeting and positioning decisions as they relate to customers, the competitive environment, and the strengths and weaknesses of your company (known as the 3 Cs). We then explore the tactical decisions that marketers make to manage customer value, and how they relate to the motivations and choices of individual consumers. The core tactics are pricing decisions, promotion/communication decisions, product decisions, and place/channel decisions (known as the 4 Ps). We next spend several sessions understanding the customer more deeply, focusing on marketing research, design, the value of customers, and analytics. We finish by applying the ideas in several contexts.

The course is composed of a mixture of lectures and case discussions. The purpose of the lectures is to present and discuss theories, concepts, analytical techniques and empirical findings. We will discuss cases with the goal of applying the concepts to the context provided by the case and to make decisions.

The most rewarding, stressful, and important aspect of organizational life is working with other people. The ability to understand and manage interactions with others is crucial to the rise of an individual's career and to the functioning of an organization. In organizations, the consequences of "people problems" are often disastrous. The art of working with and leading people involves a myriad of skills, including the abilities to create and sustain motivation, use effective influence tactics, evaluate people and information accurately, communicate effectively, make high quality decisions individually and with others, and manage work teams.

This course provides an overview of theory and research on understanding the behaviour of individuals and groups in modern organizations. Through exercises, case discussions, lectures, videos, and assignments, the course will provide you with the opportunity to learn and practice these skills. If you make an effort to learn in this course and familiarize yourself with systematic and scientific knowledge about the psychology of organizational life, you will have an advantage over others who lack this knowledge. This is why executives come back to take courses on leading people more than they do for any other topic: because it is difficult and challenging, and few really know how to do it well.

This course rests on the notion that effective leadership and management require a profound understanding of the causes of human behaviour. Leaders who understand the forces that guide behaviour can inspire other people to work toward common goals. This course will equip you with an understanding of the principles by which leaders influence other people, with a particular focus on leading teams. After taking this course, you will be able to understand why some bosses are a disaster while others are great; some team leaders can be fun and still effective while others are no fun and get nothing done.

This course provides students with some of the theories, skills, and tools needed to solve organizational problems and to influence the actions of individuals, groups, and organizations. The course prepares leaders to understand how to best organize and motivate the human capital of the firm, manage social networks and alliances, and execute strategic change. This preparation consists of a thorough knowledge of the following: team dynamics, organizational power, corporate culture, as well as organizational design and structure. This course focuses on the management issues that a leader needs to understand when building the high performing global organization. Effective leaders need to be able to combine their knowledge with multiple perspectives to create value for employees, resulting in a sustainable competitive advantage for their organization.