2015-2016 Rotman Fact Sheet

MBA
FACT
SHEETS
2015/2016
Academic Areas
The term Area refers to the academic divisions within the Rotman School of Management. There are 7
academic areas as follows;
Accounting
Business Economics
Finance
Marketing
Operations Management & Statistics
Organizational Behaviour/Human Resource Management
Strategic Management
Courses in Integrative Thinking are offered by the Desautels Centre for Integrative Thinking.
Students taking four or more electives in a given functional area should be well positioned to declare this a
specialization to the external community. Note that courses marked with an asterisk (*) are experimental
courses. Not all courses are offered each year.
Fact Sheets
The following Fact Sheets have been prepared by individual faculty based on their tentative plans for their
courses next year. Faculty may of course, change their plans as they get closer to the course offering, but
students can rely reasonably well on these descriptions. Some courses may not be offered if, a) there is
insufficient demand for them, or b) there are changes in faculty assignments to courses. Detailed course
outlines are available through R-World at My Program/Elective Courses Info & Resources.
Accounting
Business Economics
Desautels Centre for Integrative Thinking
Finance
Marketing
Organizational Behaviour / Human Resources Management
Courses from other U of T Faculties
Accounting
Area Coordinator: Wally Smieliauskas (416.978-1454 wally.smieliauskas@rotman.utoronto.ca)
RSM2203H
RSM2204H
RSM2209H
RSM2210H
RSM2211H
RSM2212H
Current Issues in Financial Reporting & Disclosure

Taxation and Decision Making
Financial Statement Analysis
Financial Distress & Insolvency
Business Law
Business Analysis and Valuation
RSM 2203
Current Issues in Financial Reporting and Disclosure
Ole-Kristian Hope
okhope@rotman.utoronto.ca
TARGET AUDIENCE
All MBA students would benefit from taking this course. In particular, all students majoring in equity research,
corporate finance, strategy, management consulting, investment banking, or company management should
consider taking this highly integrative course. The course is further a requirement for the accounting major.
COURSE MISSION
Financial reporting is used to inform investors and potential investors but also produces numbers that are used in
contracting between shareholders, managers, creditors and others. Regulators use financial reports to make
assessments of competitive conditions and financial strength. At various times, management makes financial
reporting and/or transaction design decisions to obtain some objective with these various user groups. With this in
mind, this second year course in financial reporting and analysis has two main objectives:
To expand the participants ability to analyze and interpret financial statements and notes and develop an
understanding and appreciation of the various incentives and pressures impacting on financial reporting
decisions, and
To examine advanced financial reporting topics and how the application of generally accepted
accounting principles in these areas affect reported earnings and financial position.
Throughout the course, the emphasis will be on examining the topics from the perspectives of external users of
information, rather than preparers. The classes will consist of case discussions, lectures, group presentations, a term
project on quality of earnings, and guest presentation(s). We will integrate material from accounting, finance,
strategy, and management in all our discussions.
Although not a focus of this course, most of the material we cover is highly relevant for the CFA program. In fact,
most CFA candidates find financial reporting to be the most challenging part of the exam.
REQUIRED RESOURCES
Financial Reporting and Analysis (sixth edition 2014). Revsine, Collins, Johnson, and Mittelstaedt. McGraw Hill.
Handouts. Other material posted to portal.
COURSE FORMAT
12 regular sessions in the Fall Session
EVALUATION AND GRADE DISTRIBUTION
Component
Class participation
Group case presentation
Term project
Final exam
Due Date
NA
NA
NA
NA
Weight
20%
20%
20%
40%
RSM 2204
Taxation and Decision Making
Alex Edwards
alex.edwards@rotman.utoronto.ca
TARGET AUDIENCE
Students aspiring to be decision-makers in the Business World should take this course. Virtually all business
transactions involve an income tax component and transactions can often be structured to achieve a more
favourable tax treatment, while still achieving the overall objectives of the transaction. In order to understand and
compare these transactions, one has to have a general understanding of the tax rules.
COURSE MISSION
This course will develop a students ability to identify, understand, and evaluate tax-planning opportunities and will
provide an overview of the income tax system and how it impacts business and investment decisions. The material
will focus on tax planning concepts and the effect of taxes on business decisions, rather than detailed tax rules and
legal research. We begin by developing a conceptual framework for evaluating how tax rules affect financial
decisions. The framework is then applied to various types of financial decisions, including savings vehicles,
compensation planning, international tax issues, financial statement analysis, capital structure, and mergers,
acquisitions, and divestitures.
COURSE SCOPE
The objectives of the course are achieved through a combination of lectures, selected current readings and the
application of the concepts to problems and examples. After taking this course students are expected to be able
to identify the key income tax issues associated with business and investment activities, have a conceptual
understanding of the income tax implications of the issues identified, and analyze alternatives on an after-tax basis.
COURSE RESOURCES
Buckwold and Kitunen, Canadian Income Taxation: Planning and Decision Making, 2015-2016 edition, McGraw-Hill
Ryerson.
Current Readings in Taxation. These readings will be posted on the portal.
COURSE FORMAT
13 sessions, including term test and final exam
Component
Due Date
Class participation
Ongoing
Group Presentation
One group weekly
Group assignment
Class 10
Final Exam
Exam period
Weight
20%
15%
25%
40%
RSM2209
Financial Statement Analysis
Ramy Elitzur
elitzur@rotman.utoronto.ca
TARGET AUDIENCE
Basically, all MBA students could, and should, take the course. In particular, students interested in careers in
consulting, corporate finance, equity research, investment banking, and anybody who wants to run a corporation.
COURSE MISSION
The objective of this course is to develop a set of tools for in-depth financial statements analysis and valuation. This
course emphasizes the theme of the Accounting Art of War (paraphrasing Sun Tzu) and extends it. The class
emphasizes analysis rather than mechanical work.
In order to analyze financial statements and the reporting strategy of companies we need to understand the
underlying motivation of management to shade their financial statements in the way it best serves their overall
strategy. The course builds upon the foundation established in the first year course in Financial Accounting, and
thus assumes a basic familiarity with financial statement preparation using accrual accounting. The course
emphasizes an integrative approach and, as such, has strong links with economics, marketing, finance and
strategy. Consistent with this goal we use a textbook that applies a strategic framework to analyze companies.
Predicting the past, as opposed to predicting the future, is not a useful goal, Consequently, beyond case analyses
(predicting the past) the course has in it a project to analyze real companies in real time applying all of the tools
taught up to that point in the course (predicting the future).
The course has in it three modules:
Global and strategic analysis of profitability and risk
The Accounting Art of War
Forecasting financial statements, valuation and reverse engineering of stock prices
Each of these modules has in it a lecture part, a case study to test our knowledge and the analysis of real
companies in real time.
REQUIRED RESOURCES
JAMES M. WAHLEN; STEPHEN P. BAGINSKI; MARK BRADSHAW, Financial Reporting, Financial Statement Analysis, and
Valuation - A Strategic Perspective, 8th edition, South-Western Publishing, 2014
COURSE FORMAT
Weekly interactive lectures, case studies and analyses of real companies in real time.
Component
Group case submissions (1 case)
Group financial statement analysis
project (in two instalments)
Participation
Final Exam
Due Date
NA
NA
Weight
5%
35%
NA
10%
50%
RSM 2210
Financial Distress and Insolvency
Donna.L.Losell
losell@rotman.utoronto.ca
TARGET AUDIENCE
Students who wish to know what alternative courses of action are open to them in cases of financial instability and
corporate insolvency - whether they are managers, directors, creditors or turnaround specialists.
COURSE MISSION
This course examines the process of corporate bankruptcy in Canada including exposure to the language of
insolvency, identification of key players in insolvency, identification of the advantages of selecting certain
insolvency regimes over others, corporate governance issues in distressed firms, exploration of instability prediction
models and turnaround strategies for firms in financial difficulties as well as additional topics of interest to managers.
COURSE SCOPE
Financial distress is part of the normal business environment with thousands of businesses going bankrupt every year
in Canada alone. Since bankruptcy is a significant presence in the business environment, the objective of this
course is to introduce students to the theoretical concepts and practical realities of financial instability and
insolvency including the language and key players, the legal and management processes needed to ensure not
only that there is as high a return to creditors and equity holders as possible in the circumstances but that the
regulatory requirements have been fulfilled. Students are also introduced to short term metrics and longer term
models used to predict bankruptcy as well as turnaround strategies available to troubled companies. The intention
of this course is to show students that they often have options in instability and insolvency situations whether they
are managers, directors, creditors or equity holders. All second year MBA students are welcome.
REQUIRED RESOURCES
Required Readings:
(i)
Lecture notes
(ii)
Class handouts
Optional Readings:
(i)
Course materials package
(ii)
Corporate Bankruptcy: Tools, Strategies , and Alternatives, Grant W. Newton c.2003, John Wily & Sons,
New Jersey
(iii)
Corporate Financial Distress and Bankruptcy, Altman and Hotchkiss C.2006
(iv)
Distressed Debt Analysis, S. Moyer c.2005
COURSE FORMAT
Regular weekly sessions
Component
Due Date
Individual assignments
weeks 4,5,6,7
Group case presentation and
Weeks 10,11 and/or 12
write up
Take Home Exam
To be distributed online in last week of
class
Weight
40%
35%
25%
RSM 2211
Business Law
Richard Powers
powers@rotman.utoronto.ca
TARGET AUDIENCE
Students interested in understanding how the legal environment interacts with the business environment. Students
interested in studying current cases that illustrate the dynamic interaction of business and law in todays business
environment.
COURSE MISSION
This course is intended to focus participants attention on those areas of law that typically effect a businesss
operations. In addition, we will examine those areas of law that reflect on the role of directors and officers. Recent
case law provides numerous examples that illustrate the conflicting roles managers often find themselves in.
COURSE SCOPE
Businesses operate within a complex environment of legal issues. Management must be able to not only recognize
these issues, but also have an understanding of how to resolve them effectively and efficiently. This requires an
appreciation of the Canadian legal system and the way that legal experts can offer assistance. The material will
be examined through cases that reflect the legal principles being discussed during the class sessions. Participants
will be expected to do some further legal research to complete assignments.
REQUIRED RESOURCES
Smyth, J.E., Soberman, D.A. and Easson, A.J., McGill, S.A. The Law and Business Administration in Canada, 13th
Edition (2013). Toronto: Pearson Canada.
Supplementary cases will be provided in class.
COURSE FORMAT
13 regular sessions consisting of readings from the required textbook and other handouts provided in class. Guest
speakers will be involved in several of the lectures.
Component
Class Participation
Midterm exam
Group case assignment
Final Exam
Due Date
Ongoing
Week 6
TBA
TBA
Weight
15%
25%
20%
40%
RSM 2212
Business Analysis and Valuation
Partha Mohanram
partha.mohanram@rotman.utoronto.ca
TARGET AUDIENCE
Anyone pursuing a career where one needs to analyze financial statements intelligently. This obviously includes
those interested in finance related professions such as Investment Banking, Research and Investment Management.
Students interested in consulting and marketing also find this course useful because of its approach that focuses on
business analysis with tie-ins to corporate strategy.
COURSE MISSION
This course will help you value businesses using financial statements. We will discuss how accounting regulations and
managerial discretion influence presented financial statements. You will understand how to interpret financial
statements, analyze cash flows, make judgments about earnings quality and uncover hidden assets and liabilities.
You will also be exposed to research from accounting and finance that focuses on how financial statement
analysis can be used in devising trading rules. Finally, we will use financial statement analysis prospectively to
forecast and value firms using cash flow based and accounting based methods.
COURSE SCOPE
The course will consist of the following five modules. In the first module (strategic and industry analysis) you will learn
why the critical first step is to understand industry structure and a companys strategic choices. The second module
(accounting analysis) will provide you with a framework to understand and evaluate a firms accounting and
disclosure choices and learn how to adjust financial statements to ensure better comparability. The third module
(financial analysis) will present a comprehensive framework for ratio analysis where a firms operations are
separated from its financing to better understand the true drivers of profitability and risk. The fourth module
(prospective analysis) will expose you to techniques of integrated forecasting, where you will apply the insights from
the earlier modules and apply them to truly understand what the future holds for the firm being analyzed. You will
then use these forecasts to value firms using a variety of techniques including multiples and abnormal earnings
based valuation methods. In the fifth module, you will apply the business valuation techniques in a variety of
settings including credit analysis, IPO valuation and M&A.
REQUIRED RESOURCES
AVAILABLE on R-WORLD: Presentations for class, Excel Spreadsheets, Links to Articles from Business Press, Additional
readings. There will be no additional course packet as all material will be made available online.
REQUIRED BOOK:
Krishna G. Palepu, Paul M. Healy and Eric Peek, Business Analysis and Valuation using
Financial Statements: IFRS Edition. 3rd Edition. The book will be available from the U of T
bookstore. Please make sure you buy the IFRS version with cases. The US version will
have different cases, while the version without cases will be useless as we rely on the
text cases. The book you buy should look like this.

Component
Due Date
5 Individual HW
Due In Class
Class Participation
NA
Group Project
Due in 4 instalments
Final Exam
NA
Weight
25%
15%
30%
30%
COURSE SESSION OUTLINE

I plan to break up each session into two parts. After the first class, any material that needs to be discussed (in
lecture format) will be covered in the second part. The case relevant to that topic will be covered in the first session
of the next class, as the outline will indicate. Questions for the case will be either on R-World or at the end of the
case itself.
All presentations will be uploaded onto R-World at least 3 days prior to each class. In addition, all supplementary
files will also be available on R-World (excel spreadsheets etc).
The 4 highlighted cases will also serve as the 4 graded HW submissions. All other cases are not required to be
handed it, but it is expected that you are prepared and ready to participate
Session
Date
Topic
Case to be discussed
Item Location
1-A
Introduction
1-B
Strategic Analysis
Identify the firms exercise
R-world
2-A
Strategic Analysis Case
HP
R-World
2-B
Accounting Analysis
3-A
Accounting Analysis Case
Sunbeam (HW 1)
R-world
3-B
Accounting Adjustments
4-A
4-B
Exercises
Chapter 4: Q2,10,13,P 4
Book pg 165-171
5-A
Marks and Spencer (HW 2)
Book pg 173
5-B
Case
Financial Analysis
6-A
Financial Analysis Case
Best Buy
R-World
6-B
Forecasting
7-A
Forecasting Case
CGI (HW 3)
R-World
7-B
Valuation Theory
8-A
Valuation Theory Case
Valuation Ratios in Airlines
Book pg 638
8-B
Valuation Implementation
9-A
Valuation Case
CGI
R-World
9-B
M&A
10-A
M&A Case
PPR-Puma (HW 4)
Book pg 466
10-B
Advanced Valuation
11-A
Implied Cost of Capital
ICC exercise
R-World
11-B
Credit Analysis
12-A
Credit Analysis Case
Blackberry (HW 5)
R-World
12-B
IPO Valuation
13-A
IPO Valuation Case
Air Berlin IPO
Book pg 548
13-B
Wrap Up
Group Project
Form groups of 5 (4 is ok). Each group should pick a pair of close competitors in the same industry (or closely related
industries). Ideally, the firms should be comparable in size, be among the leaders in their industry. They should also
ideally be primarily operating and listed in the same country, and should release financials under the same GAAP
(US, IFRS). Examples of such pairs in the US context include Coke and Pepsi, Home Depot and Lowes and Walmart
and Target. Examples in Canada would include such pairs such as Air Canada and Westjet, Suncor and Imperial
Oil, Rogers and Bell, Barrick and Goldcorp. Try to avoid regulated industries (e.g. utilities) and financial services firms,
as the accounting issues can be very different from what we cover in class.
Upon selecting your firms, obtain the most recent financial statements. You could use the web as most firms have a
lot of information usually under investor relations on their web sites, or the annual reports are available on EDGAR
(www.sec.gov) or SEDAR (www.sedar.com). IR websites may have the statements in useful formats such as excel.
Any other public information available on the firms can also be used. The reference librarians in the library may be
able to direct you to sources of information on industries and particular firms. In addition, make use of the internet
and if relevant,other databases such as SDC and Lexis/Nexis.
Main Objective:
Your group should take the role of investment advisor to a group of investors who are looking at a given sector but
unsure of which firm to invest in. Your ultimate objective is to advise whether they should buy/sell/short the stock of
either company. Your recommendation can be a simple buy/sell/hold on each company, as well as more specific
strategies (buy stock X, short stock Y). The different steps in your analysis should include the following.
1.
Analyze the industry in which the firms operates in. Do a 5-forces analysis for instance or use any other
framework you feel comfortable with.
2.
Analyze the strategy of each of the firms and compare it with each other and other firms in that industry.
3.
Do an Accounting Analysis. Analyze the firms accounting choices and compare with each other. Look for red
flags. Also, analyze substantive accounting issues such as leases, pensions, income taxes etc looking for
accounting related problems. Make adjustments as needed for better comparability
4.
Do a Risk and Profitability analysis of the firm using past data. Carry out a panel analysis where you compare
the two firms to each other over a reasonable period of time (3-5 years)
Analyze profitability with an ROE decomposition, into ROA and spread, as well as ROA breakdown into
margins, turnover etc.
Analyze sustainable growth
Analyze liquidity, solvency and coverage.
5.
Make assessments about what the future income statements and balance sheets will look like (forecasting).
You can use the condensed approach used in class.
6.
Value the firms using the Abnormal Earnings Valuation. Also, value the firm using one other technique (DCF,
Multiples any other method you want to use)
7.
Compare the valuation with actual stock price and try to provide plausible reasons for why the firms actual
stock price may be different from what you valued it at. Use this to make your recommendation on both firms.
Please remember that while this is an integrative course, greater weight will be placed on the accounting
aspects. Use the industry and strategic analysis as a way to set the stage and dont focus too much attention on
them. Similarly, greater weight will be placed on abnormal earnings based valuation than other methods.
Business Economics
Area Coordinator: Matt Mitchell (416.946.3149 matthew.mitchell@rotman.utoronto.ca)
RSM2115H
RSM2116H
RSM2120H
RSM2122H
RSM2123H
RSM2125H
RSM2126H
RSM2127H
RSM2128H
RSM2129H
RSM2130H
RSM2131H
RSM2132H
Creative Regional Strategies* (not offered in 2015-2016)

Sports Analytics and Economics*
Health Policy and Health Care Markets
Business and the Regulatory Environment (not offered in 2015-2016)
International Business in the World Economy
Game Theory & Applications for Management
Real Estate Development
Economic Environment of International Business
Real Estate Economics
Forecasting Models & Econometric Methods
Real Estate Investment
Economics of Innovation and Intellectual Property
Prosperity and Competitiveness
*Experimental Course
RSM 2116
Sports Analytics and Economics
Matt Mitchell
matthew.mitchell@rotman.utoronto.ca
TARGET AUDIENCE
Students interested in sports management, data analysis especially of personnel management, and economics.
COURSE MISSION
This course is intended to apply concepts of analytic management and model based data analysis to the sports
world. An emphasis of model building and application of economics is intended to deepen the students ability to
apply these skills in other areas as well.
COURSE SCOPE
We will discuss the analysis of both data and models pertaining to the business management of sports enterprises,
as well as the role that such analytic training can have in making on the field decisions. We will do so by
addressing papers at the research frontier, since those papers are an opportunity to learn about the latest thinking.
The papers will both be interested in sports intrinsically, and interested in sports as a way to assess other theories that
are a part of business education.
REQUIRED RESOURCES
Readings from RWorld
COURSE FORMAT
13 weekly sessions. The course will include class discussions of recent research in sports and sports analytics,
presentations by students, and guest speakers. Students will, in addition to regular class participation, complete a
group report on some statistical analysis they want to evaluate, and will conduct an independent data project to
explore a topic of interest. Both will be presented to the class.
Component
Class Participation
Group Report
Data Project
Due Date
Ongoing
Weeks 5-10
Finals Week
Weight
20%
40%
40%
RSM 2120
Health Policy and Health Care Markets
Mark Stabile
mark.stabile@rotman.utoronto.ca
TARGET AUDIENCE
This course is aimed at students interested in understanding the growing role of the health and health care sectors
in the economy. It will be useful for students planning a career in the health care sector, or with innovative
organizations that interact with the health care sector. It will also provide an understanding of the role of
government policy in health care, and how these policies affect the relationship between health care costs and
business competitiveness.
This course is open to all 2nd year Rotman students and is part of the Rotman School of Managements major in
Health Sector Management.
The course will be taught in an intensive format in January 2016.
COURSE MISSION
The course will help students understand the complex interactions between health care delivery, insurance
markets, governments, business organizations, and then health of populations. It will help prepare students to take
leadership roles in the health care sector, broadly defined, with consultant organizations, and organizations that
interact with government.
COURSE SCOPE
The course examines key issues in health care policy and markets, both in Canada and internationally. Topics
include the market for medical care, the market for health insurance, the relationship between health care and
the firm, physician payment, hospital delivery and competition, and the pharmaceutical sector. The course will
examine the role of government in the financing and delivery of health care, and how government decisions
affect firm strategy and behaviour. It will also provide context and analysis on health care cost growth and
containment strategies.
REQUIRED RESOURCES
All readings will be available on-line or in the course packet. No textbook is required.
Component
Participation
In Class Test
Group Presentations
Due Date
Ongoing
Class 8
Class 9 and 10
Weight
20%
40%
40%
RSM 2123
International Business in the World Economy
Wendy Dobson
wendy.dobson@rotman.utoronto.ca
TARGET AUDIENCE
This is a course that will interest students who want more depth and detail on business environmentsboth global
and those in key countries. Students who left the first year course in Global Environment of Business wanting more
detail will obtain both analytical frameworks and key details of host country environments required in investment,
outsourcing or exporting decisions in the European Union and ten other major economies around the globe.
Canada is used as an analytical example in the initial class.
COURSE MISSION
The purpose of this course is to bring together what student need to know and understand about the international
economic environment and institutions. The course provides knowledge about ten major economies that host
international businesses, perspectives on what businesses are doing in those economies around the world, and why
and how they are doing it.
By the end of the course, you will be able to address such questions as: How do I assess and predict major
economic trends in these economic areas? How do I find out about a national economic and business
environment in order to trade, invest or do other aspects of business there? What do I need to know about key risks
associated with exchange rate regimes, financial crises, legal and regulatory environments, problems of corruption
and expropriation, and sources of financing? What do I need to know about international institutions and policy
regimes, financial crises, legal and regulatory environments, problems of corruption and expropriation, and sources
of financing?
COURSE SCOPE
A defining feature of the world economy in the early 21st century is the emergence of large dynamic economies
taking their places alongside the traditional players in Europe, the United States and Japan as major trading
partners and as locations to invest and carry on international business. Much attention is paid to this phenomenon
in outsourcing and global value chains. Governments influence the domestic economic environments and
external economic relationships by facilitating cross-border flows of goods, services, technology, capital and
labour. The decisions of multinationals and local enterprises, to create global value chains for example, influence,
and are influenced by, the locations of their technology, financing, production and marketing activities around the
world.
Key country analysis and integration frameworks are developed and applied through lectures and debates during
the course. Key themes include catchup by emerging market economies, the changing roles of the state and
markets in key countries, and hot topics like worries about falling into the middle income trap.
REQUIRED RESOURCES
Electronic notes: the Country Analysis Framework; Types of Economic Integration
Selected Readings: A Note on the Potash Case in Canada
The new world disorder
Canada: Economic Update
Asian Development Bank, 2008, Integrating Production; Ch. 3 in Emerging Asian Regionalism
China 2030
Chinese SOEs and Canadian FDI
India: Comparing India and South Korea
The rise of the rest of India
PM Modis challenges
Abenomics analyzed and described
IMF report on Japan
Dobson, Wendy, 2010, Differentiating Canada
Council on Foreign Relations: North America: Time for a New Focus
Petri and Plummer, Trans Pacific Partnership
Morasevik: Europe after the Crisis
Ideas for fixing the EU
IMF: Unbalanced rebalancing
Details of Canada-EU Comprehensive Economics and Trade Agreement
Northern Lights OECD country survey of Sweden
Nordic economies: Secrets of their success

GCC: Arab World
IMF: Economic Prospects
Labour Migration Issues; Women in the GCC
Connecting Brazil to the World
Brazil Debate, Parts , 2
IMF report on Brazil
Africa Overview; Doing it my way; a hopeful continent
Employment in South Africa
Nigeria: Business in Nigeria; Nigerias renewal
Business in Nigeria
IMF survey of Nigeria
The Russian Economy: More than just Energy?
OECD and IMF surveys of Russia
Optional Reading
Wendy Dobson, 2014, Chinese SOEs and Canadian FDI Policy, University of Calgary Issues
Wendy Dobson, 2013, Partners and Rivals: The Uneasy Future of Chinas Relationship with the United States, Toronto;
University of Toronto Press.
Wendy Dobson, 2009, Gravity Shift: How Asias New Economic Powerhouses will Shape the 21st Century, Toronto;
University of Toronto Press.
COURSE FORMAT
12 regular sessions
Component
Class Participation
Class Presentation of Assigned
Readings
Submit topic for approval
Submission of group projects
Final Exam (Take home)
Due Date
Weight
Ongoing
Ongoing
20%
10%
Topic selection week 6

Project submission week 12
Week 13
25%
45%
RSM 2125
Game Theory and Applications for Management
Byung Soo Lee
byungsoolee@rotman.utoronto.ca
TARGET AUDIENCE
The audience for this course is quite general but those interested in general management or consulting may find
this course of particular value.
COURSE MISSION
The aim of this course is to equip all enrolled students with the ability to model decision problems of all
kinds (e.g., business, political, and personal relationships) as games and reason through them in intellectually
disciplined manner befitting a management scientist. We want to become internally disciplined about that which
we know, that which we do not know, and that which we assume about a strategic interaction between interested
parties. In particular, we want to become adept at putting ourselves in the shoes of others in ways that are relevant
to our own decision making. Toward that end, we will explore both the mathematical tools and intellectual
philosophy of game theory.
COURSE SCOPE
The first third of the course is devoted to models of probability and decision making under uncertainty. The
intellectual history of probability from the 17th century to the present will be quickly covered in broad strokes. The
formal frameworks for applying probability theory to decision problems will be developed and motivated. In the
remainder of the course, we will learn how these simpler frameworks, which are relevant to individual decision
making, can used to better understand strategic interactions between multiple interested parties in game theoretic
models. Several important broad categories of strategic interactions will be covered (e.g., commitment,
asymmetric information, etc.). We will also devote some time to applying these ideas in real time to situations
recently covered in the news.
REQUIRED RESOURCES
Recommended book: Games and Information: An Introduction to Game Theory by Eric Rasmusen.
COURSE FORMAT
13 weekly sessions
The evaluation will be based on weekly assignments, a group case, and participation. There is no exam in this
course.
RSM 2126
Real Estate Development
Mitch Goldhar
mitch.goldhar@rotman.utoronto.ca
THIS FACT SHEET IS TENTATIVE
TARGET AUDIENCE
Students interested in learning about the real estate industry and real estate development, specifically through
class discussion and guest speakers. The focus is on the real world of development and planning rather than
theory. Classes will be a combination of both lectures and discussion and will be supplemented by guest speakers.
Students will be expected to engage in the discussion and debate of the issues raised.
COURSE MISSION
The purpose of this course is to provide students with a fundamental background and basic skill set to understand
the real estate development business and its interrelationships with urban planning. It will provide students with an
introduction to the major disciplines and processes related to development, which can provide a basis for the
pursuit of a career in the development field or simply an understanding of the mindset of the developer. The course
attempts to provide some understanding of the complexity surrounding real estate development and will introduce
a level of quantitative and qualitative thinking sufficient to deal with myriad of decisions that confront the real
estate developer. This course gives students the opportunity to experience, first hand, the world of real estate
development through a final group project in which students will be required to apply their acquired knowledge
and skills to identify, investigate, evaluate, and present a real-life real estate development project.
Students are also expected to contribute to class debate and are encouraged to ask questions at any time. The
objective of the course is to enable students to think critically about real estate development. This is not so much a
course in facts as it is a course in thinking, learning and adapting to the forces shaping the real estate development
industry.
COURSE SCOPE
Real estate development is one of the few business fields where financial, legal, social, environmental and political
considerations are so intricately weaved. Knowledge of the interrelationships of these elements and the ability to
understand the ensuing issues are essential to all of those who are involved either directly or indirectly in the
development industry. All businesses and/or activities require real estate, and it is through real estate development
that one can have ultimate control over the creation of value in real estate.
In finding the path to profit, a real estate developer has to navigate through many obstacles and deal with forces,
which he or she must anticipate. These forces can be local, provincial, national, and global in nature, ranging from
the dynamic of the economy to changes in family structure, consumer spending patterns, migration trends and
emerging technologies. The interaction of these forces, over time, makes real estate development an exciting
endeavor in which risks are high and rewards, at times, substantial. It is a field strewn with challenges, risks and
pitfalls that have toppled the largest and seemingly most stable organizations in the world. Yet, the ownership of
real estate has not lost its allure and it is from real estate that many (non-real estate) companies survive.
Real estate development can be considered the bedrock of the real estate industry. To understand real estate
development is to understand all aspects of the real estate industryinvesting, financing, growth trends, market
cycles, etc. This course provides an overview of the real estate industry, the development process, and the laws
regulating it through the planning process. It covers the financial basis for development projects, the participants,
the market search procedures and the financing of development. It also touches on the interface of the industry
with the public sector.
REQUIRED RESOURCES
A course reader will be provided. There are no required textbooks for the course. Additional required readings will
be assigned and/or handed out in the previous weeks session. These must be read prior to the following weeks
lecture, as they will be the source of class discussion. Reference readings will not be discussed in class and are
intended only as an additional reference source on particular topics.
To supplement readings, cases and assignments may require additional resource material to be researched in the
library or through interviews and contacts. The ability to find pertinent information through informal channels is a
fundamental skill required in real estate development.
COURSE FORMAT
13 regular sessions
Component
Class Participation
Assignment 1
Assignment 2
Assignment 3
Development project
class presentation
Development project
report
Due Date
Ongoing
Week 5
Week 7
Week 9
Last class
Weight
10%
20%
15%
15%
15%
Last class
25%
RSM 2127
Economic Environment of International Business
Don Brean
brean@rotman.utoronto.ca
TARGET AUDIENCE
Students interested in developing a thorough yet practical understanding of the basis of location-specific
advantages and, in particular, how modern industry successfully taps those advantages around the globe. The
course appeals to those intent on careers in international business, strategic management and global positioning.
COURSE MISSION & SCOPE
What economic factors shape a foreign market opportunity or a foreign production opportunity? What specific
corporate characteristics contribute to successful foreign operations? In what way and to what extent do national
and international laws, regulations or institutions such as trade law, competition policy or the level of a countrys
financial development shape the commercial opportunities in specific locations? Answers to such questions are
focus of RSM 2127.
The course also addresses the role of international economic institutions and arrangements such as the World
Trade Organization, the IMF, NAFTA, The EU Economic Directorates, tax treaties, intellectual property protection in
making the world a more promising and secure place for international business. In RSM 2127, such issues are
explored, explained and illustrated.
This course establishes managerial perspectives on international trade, cross-border investment and global risk
management. Fundamental principles of international trade and finance comparative advantage, gains from
trade, industrial specialization are framed for business decisions in the world economy. Principles of global
industrial organization are illustrated in a context of increasing international economic integration. All concepts are
illustrated with real world examples.
Specific topics examined in depth include industry exposure to exchange rate changes (and how to hedge such
exposure), international diffusion of technology, investing in emerging markets (such as China and India), conflict
resolution in international trade (with illustrative examples) and international aspects of competition policy.
REQUIRED RESOURCES
Please insert textbook name and edition, as well as course package information. This is not binding. We will tell
students that the textbook information here is subject to change.
COURSE FORMAT
12 weekly sessions
Component
Mid-term
NA
Essay/Presentation
NA
Final Examination
Exam week
Due Date
Weight
30%
35%
35%
The course involves a blend of lectures, case analysis and, closer to the end of the course, student presentations of
firm- or industry-specific term projects.
RSM 2128
Real Estate Economics
William Strange
wstrange@rotman.utoronto.ca
TARGET AUDIENCE
Real estate matters in every area of business. Real estate assets are a very important part of corporate balance
sheets. The principle residence is usually the largest item in a households portfolio. In aggregate, real estate has
been estimated as comprising roughly 40% of total wealth. For all of these reasons, real estate is a fundamental
area of finance. Real estate and location decisions can determine whether entrepreneurs succeed or fail and
whether mature businesses grow or decline. It is thus no exaggeration to claim that all educated businesspeople
should know something about real estate.
This class is, therefore, designed to be useful across the MBA program. In addition to students who pursue careers in
real estate itself, a background in real estate can be useful to students in banking and asset management. A
background in real estate can also be useful to general managers to the extent that they deal with location
decisions and because firms in other lines of business frequently own or rent significant real estate, and are
therefore accidentally in the real estate business. Real estate is also important to consultants since real estate
decisions are so important for the businesses that make them.
COURSE MISSION AND SCOPE
The course applies economic methods to make students better real estate decision-makers. Topics covered
include the determinants of real estate values, the location decisions of households and firms, land use, urban
growth and agglomeration, industry clusters, cycles, bubbles, real estate finance, real options, and leasing.
REQUIRED RESOURCES
The course will make use of a paperback text (Helsley, Robert W., Urban and Real Estate Economics , Vancouver :
UBC Real Estate Division, 2003) and a course packet. The packet will contain one case and a number of articles.
Class participation
All weeks
Case write-up*
Week 8
Debate*
Week 10
Paper/Presentation*
Week 13
Final
Examination period
10%
5%
5%
30%
50%
*Denotes group work. Students are allowed to choose their own groups, with each group
having 4-5 members.
The case to be written-up will concern the development of Canary Wharf in London, England. The debate will
concern housing price bubbles. The term paper will be relatively short (15 pp.). It can be on any topic in real
estate, and I interpret this very broadly. Previous papers have dealt with real estate finance, market analysis, real
estate strategy, and entrepreneurship.
RSM 2129
Forecasting Models and Econometric Methods
Peter Dungan
pdungan@rotman.utoronto.ca
TARGET AUDIENCE
Students interested in understanding and using regression-based forecasting techniques applicable to Finance,
Marketing, Strategy and Business Economics.
The course provides an introduction to forecasting techniques based on time-series methods, single-equation
econometric (regression) equations, multiple-equation econometric models and volatility forecasting (ARCH
techniques and their offspring). The forecasting applications considered span demand and price forecasting and
financial variables. The course is hands-on, requiring use of the toolkit of techniques in Econometric Views an
econometrics package widely used in the forecasting community. Relatively little time is devoted to noneconometric forecasting techniques.
REQUIRED RESOURCES
Required: Econometric Views Student Version 7.0, Quantitative Micro Software
(Text and program on CD-ROM) (EV)
Recommended: R.S. Pindyck and D.L. Rubinfeld (PR), Econometric Models & Economic Forecasts 4th ed. New York:
McGraw Hill (This or any equivalent econometrics text is recommended; PR and several other
econometric/forecasting texts will be placed on reserve in the Rotman library)
COURSE FORMAT
13 weekly sessions
Component
Due Date
Mid-Term Test No. 1
Week 7 (in class)
Mid-Term Test No. 2
Week 12 (in class)
Term Paper
Due End of term
Weight
30%
30%
40%
RSM 2130
Real Estate Investment
Lu Han
Lu.Han@rotman.utoronto.ca
TARGET AUDIENCE
Real estate assets account for about one-third of the value of all capital assets in the world. An understanding of
real estate is important no matter what line of business a student plans to be in. This class is, therefore, designed to
be useful across the MBA program.
COURSE MISSION
This course will consider the economic and financial issues that are of fundamental importance in the analysis of
real estate investment. The objective is to combine the analytic framework of financial economics with the realworld features of real estate markets. The course shall (1) help students understand house price movements; (2)
familiarize students with the key elements of the real estate investment decision process in both residential and
commercial real estate markets; and (3) establish a meaningful framework within which students can identify real
estate opportunities and manage the associated risks.
COURSE SCOPE
This class will provide an overview of real estate valuation, financing and investment, using finance and economics
tools. Topics include real estate investment and development, mortgage and equity financing, real estate
securitization and credit crunch, real estate brokerage, house price dynamics, homeownership decisions and
government policies.
REQUIRED RESOURCES
The course will make use of a textbook and a course packet. The required textbook is Real Estate Finance and
Investments by Peter Linneman. The packet will contain both articles and cases.
COURSE FORMAT
13 weekly sessions
In order to emphasize the interaction of theory and practice, academic lectures are supplemented by a series of
student presentations, case discussions, and guest lectures.
Component
Due Date
Class Participation
All weeks
Case Assignment*
Week 4,10
Debate*
Week 7
Paper/Presentation*
Week 13
Final
Examination Period
Weight
10%
10%
5%
25%
50%
*Denotes group work. Students are allowed to choose their own groups, with each group having 4-5 members.
RSM 2131
Economics of Innovation and Intellectual Property
Matt Mitchell
matthew.mitchell@rotman.utoronto.ca
TARGET AUDIENCE
Students interested in management of the research process and management of intellectual property, especially
as it relates to government policies such as patents that provide intellectual property protection.
COURSE MISSION
This course should allow students interested in technology and management to get a new perspective on the
problems faced by firms, and understand an important force shaping the dynamic evolution of industries.
COURSE SCOPE
Firms and industries are often shaped by important innovations. We discuss how economic theory can help the
manager to understand the development of innovations and their impact on the firm and the industry as a whole.
Another important feature of innovations is the intellectual property they generate. We describe a variety of ways
in which intellectual property is protected and used by firms, and the economics of these different protections.
REQUIRED RESOURCES
Course packet and information distributed on RWorld.
COURSE FORMAT
13 regular sessions
Component
Class Participation
Group Case Presentation
Group Patent Project
Final Exam
Due Date
Ongoing
Various
Last Class
TBA
Weight
10%
20%
20%
50%
RSM 2132
Prosperity & Competitiveness
Richard Florida
florida@rotman.utoronto.ca
TARGET AUDIENCE
This course will impart this understanding the role of business and public policy in the competiveness and prosperity
of cities. It will do so through theories, data, and case studies, drawn from my more than three decades of my own
research and extensive experience working with companies, nations, and cities. The course integrates academic
theory and real world examples of the forces that shape business competitiveness and community prosperity.
COURSE MISSION
Cities are an increasingly important component of economic life. Half the worlds population lives in cities and
metro areas a figure that will only continue to increase. Businesses depend on places for their competitiveness
and the prosperity of communities depend on economic success.
COURSE SCOPE
This course is designed to help you understand the role of firms and communities in prosperity and competitiveness.
It has four key objectives:
To help you understand the importance of competitiveness and prosperity for communities as well as
companies.
To help you better understand how and why firms locate where they do and the role of location in corporate
strategy and performance.
To help you understand the various assets that communities provide to people and firms.
At a more personal level, this course will give you the tools you need to help you select the best place for your
career and life.
REQUIRED RESOURCES
Florida, R. (2012) The Rise of the Creative Class Revisited. New York: Basic Books.
COURSE FORMAT
12 weekly sessions
Component
Class Participation
Assignment 1
Assignment 2
Assignment 3
Assignment 4
Due Date
Ongoing
Ongoing
Week 4
Week 8
Week 12
Weight
20%
20%
20%
20%
20%
Desautels Centre for Integrative Thinking

Area Coordinator: Mihnea Moldoveanu (416.978.7700 micamo@rotman.utoronto.ca)
RSM2913H
RSM2918H
RSM2920H
RSM2922H
RSM2923H
GettingItDone
Business Intelligence ((offered in 2016 Winter Intensive Term only)
Top Manager's Perspective
The Opposable Mind (not offered in 2015-2016)
Business Problem Solving - An Integrated Approach
(offered in 2015 Summer Intensive Term only)
RSM 2913
GettingItDone
Brendan Calder and Dr. John ODwyer
www.GettingItDone.biz
TARGET AUDIENCE
Soon to be MBA graduates who want to effectively implement their strategies when in leadership and
management positions.
This is a course about GettingItDone; It being your vision (and related strategy, operating results, change
initiatives, and employee involvement and commitment). This is a doing course and not a memorizing course.
COURSE MISSION
1. Students learn an annual planning and management process that incorporates and links the practices of
strategic choice, organization alignment, managing for results, and continuous improvement. Graduates will be
able to effectively implement their vision and strategies when in leadership and management positions
2. Students get proven tools and methods to achieve organizational results
3. Students get proven tools that will improve their personal effectiveness
COURSE SCOPE
The course delivers proven models and tools that have been continuously refined over 40 years based on the works
of Peter Drucker, Roger Martin and Bill Reddin (see www.gettingitdone.biz).
Classes will include a number of sessions with real leaders who are GettingItDone in real time. The course Faculty
have managed and consulted to many organizations using these tools and methods.
INSTRUCTIONAL METHODS
Sessions include guests who are GettingItDone in real time
Individual assignments and team-based management simulation
Action Learning
Discussions of readings and key take-aways
Applications of learnings to your next job situation
One-on-one coaching & after hours social events
REQUIRED RESOURCES
- GettingItDone Tool Kit distributed in Session 1
- Peter F. Drucker - The Effective Executive (book distributed at Meet & Greet before course)
- Roger Martin Playing to Win article (PDF distributed prior to course)
- Bill Reddin - How to Make Your Management Style More Effective & The Output Oriented Organization (PDFs
distributed prior to Course)
COURSE FORMAT
10 sessions
EVALUATION
Active Class Participation (20%)
Students are expected to be engaged during their class attendance and to make a contribution to the overall
learning experience.
Individual Paper (20%)
Each student to submit a paper answering the following questions:
1. List the key take-aways from each author
2. Compare and contrast the views of these three authors
3. Comment on where these views are relevant today
Rules are: 3 pages maximum and it should be Clear (easily understood), Memorable (worth remembering) and
Compelling (having a powerful & irresistible effect).
Individual Presentation (20%)
Each student to prepare a presentation addressing the following challenge:
Based on your learnings in the GettingItDone course, what are the things that you personally commit to do during
the first six months in your next job?
Team Presentation (40%)

Students will be randomly assigned into Study Teams of 5, in advance of the start of the course.
The team presentation assignment will be:
Based on the methods and tools that you have learned during the GettingItDone course and as applied to your
assigned management simulation:
1. Describe what impact the Team Effectiveness Lab (TEL) activities had on your teams effectiveness (20%).
2. Develop a Performance Agreement (PA) for your management simulation corporation, for the next fiscal year
(20%).
RSM 2918
Business Intelligence
Filippo Passerini
Filippo.Passerini@Rotman.Utoronto.Ca
NEW INSTRUCTOR BIO
Dr. Filippo Passerini is a recognized world-class IT strategist, with more than three decades of business-building
experience with Procter & Gamble. He has served for over ten years as Group President of Global Business Services
(GBS) and Chief Information Officer (CIO), leading the most global P&G organization and overseeing over 170
distinct services in 70 countries. He has broad international experience including living and working in Italy, Turkey,
the UK, Latin America, Greece and the United States.
Dr. Passerini is globally recognized as an information technology and shared services thought leader and is known
for creating new, progressive business models leveraging digital technology and driving innovation. His strategies,
principles and ideas have been the subject of numerous books, articles and Harvard Business Reviews.
In a world ever more complex and fast-paced, detecting and anticipating the need for business change is
becoming increasingly critical. Speed of decision making is often the key differentiator in the success and failure
of an Enterprise. At the same time the amount of data available to us, both structured and unstructured (Big Data),
is becoming a new force. In order to turn all of that into a competitive advantage as opposed to
overwhelming entropy new tools and ways of using data to make decisions and solve problems are necessary.
This course aims at providing the context in which Analytics and Business Intelligence plays a strategic role in the
business, as well as the content to turn data into information, then into knowledge, and finally into insights and
business action predicated on new information. The course illustrates the importance of rapidly moving beyond
what is happening in the business, to invest time on why it is happening, and better understand the options
available for how to react. All of that based on case studies, highly interactive sessions, and several business
cases. The course also touches several personal skill areas fundamental to succeed in todays business world, as
well as the importance of Visualization to bring to life complex analytical models and distill down actionable
insights.
CAREER FOCUS
The course is open to anyone wishing to improve his or her basic knowledge on Business Intelligence and Analytic
and who wants to learn how to turn digital technology into competitive advantage. Students pursuing careers in
general management, investment banking, consulting, financial services and entrepreneurship in big data niches
should find the course of particular interest.
REQUIRED RESOURCES
TBD
COURSE FORMAT
Intensive format offered over 7 days
TBD
RSM 2920
Top Managers Perspective
David R. Beatty O.B.E.
beatty@rotman.utoronto.ca
Richard Powers
Richard.Powers@Rotman.Utoronto.Ca
TARGET AUDIENCE
The course should be of interest to future consultants, general managers, investment analysts and entrepreneurs.
The course demands a lot of work outside the boundaries of text books and lectures so it is not for everyone.
COURSE MISSION
The objectives of this course are to make you a better decision maker by:
Making you think logically and teaching you to communicate in a clear, memorable and compelling
way
Developing your understanding of the theory and concepts of strategic management in large complex
business organizations.
Providing you with a set of practical analytical tools to enhance your strategic skills
Building your self-confidence as a decision maker at the most senior managerial level.
COURSE SCOPE
This is a course designed to make you a better strategic decision maker and to integrate all the skills you have
acquired in your career and at RSM.
The course is built on some high level frameworks, such as LogicWorks, that enhance your capacity to reason
logically, to identify effective solutions and to learn continuously from your own experiences.
The course works with practical tools and techniques such as momentum analysis, Porters 5 forces, core
competence, the GE/McKinsey 9-box and others. These tools and the exercises designed to make them useful will
assist you in making real world, real time decisions in complex business environments.
The course perspective is that of the CEO of large, global businesses such as Four Seasons, Gildan, CAE or Inmet
Mining as well as a more local business, Loblaws.
Students will be required to develop insights from the provided readings (Annual Reports and analysts reports) and
from their own independent investigations. There are no boundaries. Each days newspapers may add further
dimensions to the course.
If you are prepared for hard work, aggressive thinking and insightful reflection about yourself this course may well
transform your career trajectory.
REQUIRED RESOURCES
The readings will be drawn from Corporate Annual Reports, Investment Analysts Reports, selected HBR articles on
relevant topics.
Students will also be required to develop their own information sources from interviews, literature searches or
company/industry reviews.
EVALUATION
Component
Participation in class (individual)
Case presentations in class (group)
Final exam (individual)
Due Date
Ongoing
Various
Exam week
Weight
20%
40%
40%
Top Managers Perspective

Assignments and Expectations
Please note that this course has both graded and ungraded work. You should not sign up for the course if you are
not prepared to commit fully to the ungraded work as well as the graded work. To give you a sense of the
expectations, here is what we did in 2014:
1.
Graded Work
Contribution in class (individual)
Mid-term (group)
Final exam (individual)
2.
20%
40%
40%
Due Date
ongoing
Nov
Dec
Expected, but Ungraded

Attend coffee with. sessions, usually outside class time at 7:30 AM at the corporate office of the
speaker. It is expected that you show up for all of these 15 sessions.
o Submit a journal entry for each guest speaker within 36 hours
o At the term end summarize your key take-aways from these coffee with sessions
Thoroughly prepare the case and any readings for each week.
Prepare a short presentation every week on the case, using a framework to be provided. Each group gets
to present at least once.
Enrolment in this course is limited and very competitive. If you are not sure you are willing or able to do the
work, please let someone else join the class who is.
RSM 2923
Business Problem Solving An Integrated Approach
Mihnea Moldoveanu
micamo@rotman.utoronto.ca
TARGET AUDIENCE
This course will be of particular interest to future consultants, investment bankers and general managers.
COURSE SCOPE AND MISSION
This course aims to make you a better framer and solver of any business problem. It will do so by getting you to build
an observer and a controller for your own mind, or to improve the observer and controller that you currently
possess. You will be introduced to a basic language for describing any problem and the mental processes involved
in solving it, and a discipline for using this language. The basic elements of this language form the basic building
blocks of the course, which will highlight the application and use of each element of the language to problem
solving behavior.
The course is open to anyone wishing to improve his or her basic problem solving skill. It will be particularly useful to
those contemplating careers in management consulting, investment banking and entrepreneurship.
REQUIRED RESOURCES
Diaminds, by Mihnea Moldoveanu and Roger Martin (2009)
Readings and Cases as assigned
COURSE FORMAT
May Intensive
Component
Class Participation
Assignment 1
Problem Framing
(In-class Presentation)
Take Home Final Exam
Due Date
Ongoing
TBC
TBC
Weight
10%
20%
30%
TBC
40%
Finance
Area Coordinator: Craig Doidge (416.946.8598 cdoidge@rotman.utoronto.ca)
RSM2300H
RSM2301H
RSM2302H
RSM2303H
RSM2304H
RSM2305H
RSM2306H
RSM2307H
RSM2308H
RSM2309H
RSM2310H
RSM2312H
RSM2314H
RSM2315H
RSM2316H
RSM2317H
RSM2319H
RSM2320H
RSM2321H
Corporate Financing
Financial Management (also offered in 2015 Summer Term)
Security Analysis & Portfolio Management
Risk Modeling & Financial Trading Strategies
Financial Institutions & Capital Markets
International Financial Management
Options & Futures Markets (also offered in 2015 Summer Term)
Advanced Derivatives
Financial Risk Management
Mergers & Acquisitions
Analysis & Management of Fixed Income Securities
Value Investing
Private Equity & Entrepreneurial Finance
The Management of Private Wealth
Introduction to Hedge Funds and Broker Dealers
How Banks Work: Management in a New Regulatory Age*
The Revolution in Finance: Markets, Institutions and Organizations*
The Canadian and American Financial Systems Comparisons and Contrasts*
Islamic Finance in Canada
* Experimental Course
RSM 2300
Corporate Financing
Sergei Davydenko
davydenko@rotman.utoronto.ca
TARGET AUDIENCE
This is a core course for students interested in a career in finance in a bank or investment bank, in corporate
finance or treasury, or as an investment analyst. For students that are not finance majors (such as JD/MBA or MFE
students) the course offers an appreciation for how companies raise capital.
The aim of this course is to help you learn to apply fundamental ideas of financial economics, which you already
know from basic finance courses such as RSM1232, to problems in the area of corporate finance which reflect the
complexities that the real world entails. The course will give you the opportunity to analyze practical financial
situations, on the assumption that you are already familiar with fundamental ideas concerning valuation methods,
risk analysis, CAPM, derivatives, and capital structure. In addition to analyzing specific financial issues, we will
consider how those issues relate to the broader objectives of the firm and the underlying big-picture assumptions
used in numerical calculations.
We will use the case method to motivate our discussion of the gap between rigorous finance theory and its
applications to practical problems in corporate finance, and the thought process required to bridge this gap. The
course also places emphasis on presentation and discussion skills. It will be important to explain your positions to
each other and to argue convincingly for your recommendations in your case write-ups and presentations.
REQUIRED RESOURCES
Text 1331/1232 Finance text book.
Course Package- consisting of cases and supplementary readings
COURSE FORMAT
12 regular sessions
Component
Due Date
Weight
Class Participation
Ongoing
15%
Group Cases and

Presentations
Final Exam
Throughout the term
40%
Exam week
45%
RSM 2301
Financial Management
Wendy Rotenberg
rotenber@rotman.utoronto.ca
TARGET AUDIENCE
This is a required course for students in the corporate finance/investment banking stream. It can be taken
concurrently or before RSM2300 Corporate Financing or RSM2309 Mergers and Acquisitions. It should also be of
interest to those students who simply wish to have a better understanding of how firms manage their working
capital and make capital budgeting decisions. It is also the designated finance for non-finance specialist course.
COURSE MISSION
The course is designed to deepen the understanding of basic financial management decisions within a nonfinancial corporation and focuses on the application of modern financial techniques to operating and investing
decisions. It comprehensively analyzes working capital management and capital budgeting decisions within the
context of the firms business strategy. The course consists of two parts: the management of working capital
(including short term financing), and internal long-term asset acquisition (investment a.k.a. capital budgeting and
Capex) decisions.
COURSE SCOPE
The course looks at the management of working capital and the organic acquisition of long-term assets and deals
with the following critical questions:
What is the cash cycle within the firm?
How can the firm forecast its cash requirements?
How can the firm develop its cash budget?
What is the difference between seasonal, cyclical and secular demands for funds?
How can banks structure lending agreements to manage the different funds requirements?
How does securitization affect short term liability management?
What are the advantages of leasing versus borrow/purchase and how should such a hybrid decision be
made?
How are incremental cash flows determined for investing decisions?
How can the firm evaluate replacement, expansion, new product development, international and
strategic investment decisions?
How can real options analysis help make better investment decisions?
REQUIRED RESOURCES
There is no textbook required. The course is based on a package of readings and the textbook required in the first
year finance course.
COURSE FORMAT
12 regular two hour sessions
Component
Due Date
Weight
Individual Homework
Assignments
various
30%
2 Group Case Analyses
various
20%
Final Take Home Exam
1 week after end of course
50%
RSM 2302
Security Analysis and Portfolio Management
Maureen Stapleton
maureen.stapleton@rotman.utoronto.ca
TARGET AUDIENCE
Students who are interested in the conceptual framework and real word practice of portfolio management. This
course provides a solid background for those who plan to work in the funds management industry in any capacity,
and for those who have a strong interest in investing. It useful for students who are working towards the CFA
designation which is required of almost anyone who plans a career in analysis, portfolio management or
sales/trading.
COURSE MISSION
This course expands on investment concepts introduced in RSM1231. It focuses on theories and techniques that
underlie the construction and management of optimal investment portfolios, emphasizing the risk-return tradeoffs
that are appropriate for different types of investors.
It explores key elements of the investment management process, including development of objectives and
constraints, implementation and performance measurement. The characteristics of stocks and bonds are
discussed, with an emphasis on valuation metrics and performance drivers. By managing fictitious funds via trading
real securities, students will apply their classroom knowledge and shrewd judgments to real-world investing.
COURSE SCOPE
Taught by a former institutional portfolio manager, this course covers theoretical concepts, some empirical
methodology and their application to real markets and portfolios. Through a combination of lectures, readings and
case discussions, students explore key elements of practical asset allocation, security valuation and style investing.
Students will apply their knowledge by managing portfolios on the Rotman Portfolio Management System (RPM).
REQUIRED RESOURCES
1. Text book: "Investments," by Z. Bodie, A. Kane, A. Marcus, S. Perrakis, and P. Ryan. 8th Canadian edition,
McGraw Hill Ryerson, 2014.
2. Cases and readings to be downloaded from various sources.
COURSE FORMAT
12 regular sessions
Component
Due Date
Weight
Assignments & Cases

Investment project
Final exam
Ongoing
End of term
Exam period
25%
25%
50%
RSM 2303
Risk Modeling and Financial Trading Strategies
Tom McCurdy
tmccurdy@rotman.utoronto.ca
TARGET AUDIENCE
Those interested in developing skills to make effective financial decisions for an uncertain future. These skills have
general applicability but may be particularly relevant for risk management, investment strategies, and securities
trading.
COURSE MISSION and GOALS
1. To learn to make effective financial decisions when the future is uncertain by evaluating models & model
uncertainty associated with forecasting risks & potential returns
2. To practice apply those models and skills to various securities and investment objectives using simulation-based
learning-by-doing
COURSE SCOPE
This Lab-based course will integrate theory and practice by using simulation cases and real-time data links to both
a simulated market and to quotes from actual markets. In particular, we use the RIT market simulator to deliver
learning-by-doing cases which, coupled with Excel support applications to apply the relevant theory, will guide
decision making and allow us to derive effective strategies when faced with uncertainty and quantifiable risks. This
training is analogous to using a flight simulator; cases are designed to master one skill at a time progressing to
capstone cases which involve several interacting or cascading risks. More details are available at
http://rit.rotman.utoronto.ca. In addition, RPM exercises will be assigned to apply your strategies to real-time market
quotes. This facilitates learning about important institutional details and reinforces the learning objectives of the RIT
cases. You will be able to install the RPM client and connect to the RPM server from any computer with a web
connection (see http://rpm.rotman.utoronto.ca for details).
REQUIRED RESOURCES
Slides, case briefs, help files for Lab applications and required background readings will be posted on RWorld. These
can be compiled into a course package on request. Additional optional readings will also be posted.
COURSE FORMAT
12 or 13 sessions perhaps including a visiting speaker session
Most classes will be held in the Finance Lab.
TENTATIVE EVALUATION AND GRADE DISTRIBUTION (more details available on the course outline)
Component
Due Date
Tentative Weight
Two Group Excel Assignments
TBA
30%
Simulation Case Performance
TBA
18%
Practice Exercises
TBA
12%
Tests
TBA
40%
RSM 2304
Financial Institutions and Capital Markets
Susan Christoffersen
susan.christoffersen@rotman.utoronto.ca
INSTRUCTOR BIO
Professor Christoffersen was hired to the University of Toronto in 2010 with award-winning experience teaching both
undergraduate and MBA courses in financial institutions and corporate finance. Her research focuses on mutual
funds and more generally on the role of financial institutions in capital markets. In 2005, Professor Christoffersen was
honoured by the Canadian Securities Institute Research Foundation as their three-year term professor. Her research
has been cited in several international newspapers such as the Wall Street Journal, The New York Times, and The
International Herald Tribune.
TARGET AUDIENCE
This course is meant for any students interested in understanding how financial institutions and capital markets
function. The focus is on current issues facing management in the financial service sector. The course would be of
great interest to students contemplating a career in financial services and also those just wanting to gain a general
knowledge of how markets work. The material is accessible and general enough for all business majors as it
provides a solid understanding of financial markets, needed by anyone working in business management.
The course first provides a qualitative description of commercial banks, investment banks, insurance companies,
mutual funds, and central banking. For each institution, the course discusses their basic business practices as well as
the regulations and regulators guiding each institution. From a macroeconomic perspective, we consider how
each of the institutions plays a role in economic activity and growth. We also consider some of the incentive
problems with individuals managing their investments through institutions. These incentive problems provide the
grounds and needs for regulation. Finally, the course considers the role of a central bank and describes how
commercial banks work alongside the central bank to implement monetary policy. Throughout the course,
discussion is raised about current interest rate policies and the implication of high- and low-rate interest rate
environments for numerous institutions. Cases are used throughout the course to provide examples and illustrations
of the challenges facing capital markets and financial institutions.
REQUIRED READINGS
A course package of readings will available as well as cases. The instructor has also developed several course
notes which supplement reading material and are available through R-world.
Component
Class participation
Quiz #1
Quiz #2
Cases/assignments
Final exam
Due Date
Ongoing
Week 4
Week 8
Ongoing and Week 10-12
Exam Period
Tentative Weight
10%
15%
15%
25%
35%
RSM 2305
International Financial Management
Don Brean
brean@rotman.utoronto.ca
TARGET AUDIENCE
This is a recommended course for students following the corporate finance/investment banking major. More
generally, the course should be useful for students interested in the international aspects of finance.
In frictionless and integrated world markets we would expect that the country an investor resides in or where a firm
is incorporated should not matter. Although the process of globalization has reduced many barriers to international
investment for both firms and portfolio investors, countries and borders continue to have a major impact on many
aspects of finance. For example, the country where an investor resides has a major impact on his or her portfolio
choices and consumption decisions. The country where a firm is incorporated affects its ownership structure, capital
structure, and corporate governance choices. Importantly, when investors and firms cross a border into another
country, it changes the opportunity set, incentives, and risks that they face. For example, investors can lower the risk
of their portfolios by diversifying internationally; firms can raise capital abroad, often on better terms than they
could get at home. With these benefits come additional risks, such as currency risk and political risk that can have a
major impact on firm value. Further, issues such as different accounting standards, tax rules, and institutional
constraints can make crossing borders a challenge for both firms and investors.
The goal of this course is to provide a framework for making financial decisions in an international context.
Therefore, the course extends the principles of investment analysis and financial management to the international
environment. The course covers a broad range of interrelated topics such as:
Currency markets and parity conditions
International investing and portfolio diversification
Understanding and managing exchange rate risk
Raising capital in global markets
Project finance
International capital budgeting and political risk
REQUIRED RESOURCES
1. Cheol S. Eun, Bruce G. Resnick, and Donald J.S. Brean, International Financial Management: Canadian
Perspectives 2nd ed, 2008 (McGraw-Hill).
2. Course package: contains additional readings as well as the case studies that are discussed in class.
3. Optional articles related to material covered in class are posted on the course webpage.
COURSE FORMAT
12 regular 2 hour sessions, split between lectures and case studies
Component
Class participation
3 case studies
Final exam
Weight
10%
40%
50%
RSM 2306
Options and Futures Markets
Kevin Wang
kwang@Rotman.Utoronto.Ca
TARGET AUDIENCE
Students who expect to work in finance or who have some interest in derivatives markets.
COURSE MISSION
It aims to provide students with an understanding of derivative instruments including their use in trading and risk
management. This is the first of a three-course sequence in risk management and financial engineering. The other
courses in this sequence are Advanced Derivatives (RSM 2307) and Risk Management and Financial Engineering
(RSM2308).
COURSE SCOPE
This course covers forwards, futures, swaps and options. By the end of the course, students will have good
knowledge of how these contracts work, how they are used and how they are priced. They will also gain hands-on
experience through an RPM hedge fund project.
REQUIRED RESOURCES
Options, Futures, and Other Derivatives by John Hull, eighth edition, and Solutions Manual for this book
COURSE FORMAT
12 or 13 regular sessions
Component
Type
Due Date
Weight
Assignment 1
Group
Week 4
5%
Assignment 2
Individual
Week 8
10%
Assignment 3
Group
Week 12
5%
Hedge Fund Project
Group
Last Week
30%
Final Exam
Individual
Exam Week
50%
RSM 2307
Advanced Derivatives
Alan White
alan.white@rotman.utoronto.ca
TARGET AUDIENCE
This course covers more advanced material than RSM 2306. It is intended for students who have a quantitative
background.
COURSE MISSION
Objective is to enhance students knowledge of the way in which derivatives can be analyzed.
COURSE SCOPE
The course starts with Black-Scholes analysis. This leads to a variety of approaches commonly used to value
derivatives. This technology is then applied to a variety of exotic contracts. The second half of the course focuses
on the types of models used in the swap market.
REQUIRED RESOURCES
Options, Futures, and Other Derivatives by John Hull, 9th edition, and Solutions Manual for this book
COURSE FORMAT
13 regular sessions
Component
Due Date
2 assignments
uniformly distributed through the course
Final Exam
Exam week
Weight
50%
50%
RSM 2308
Financial Risk Management
John Hull
hull@rotman.utoronto.ca
TARGET AUDIENCE
Students expecting to work in finance, particularly those who would like to work for a bank or other large financial
institution
COURSE MISSION
To explain important issues concerned with the way banks throughout the world manage risks. Bank regulations
including Basel III and Dodd-Frank will be covered. Many of the topics are applicable to non-bank institutions and
to non-financial corporations.
COURSE SCOPE
This course deals with the ways in which risks are quantified and managed by financial institutions. Among the
topics covered are types of financial institutions, the regulation of banks and other financial institutions, market risk,
credit risk, operational risk, liquidity risk, model risk, and economic capital.
REQUIRED RESOURCES
Risk Management and Financial Institutions by John Hull, third edition, Wiley.
COURSE FORMAT
12 regular sessions
Component
Assignment 1
Assignment 2
Final Exam
Due Date
Week 7
Week 12
Exam week
Weight
25%
25%
50%
RSM 2309
Mergers and Acquisitions
Andrey Golubov
Andrey.Golubov.1@city.ac.uk
TARGET AUDIENCE
This is a recommended course for students following the corporate finance/investment banking major. More
generally, the course should be useful to any student interested in investment banking, private equity, funds
management, consulting, corporate development, entrepreneurship, accounting and control, business journalism,
general management, and advising senior management.
COURSE MISSION
The course covers the entire deal cycle from strategy to implementation. It provides: 1) an in-depth understanding
of the drivers of M&A and the key factors for success; 2) the financial tools and techniques used in M&A; 3)
analytical frameworks used to identify, analyze, select suitable targets, value them on a stand-alone basis and with
synergies, assess merger consequences, and develop deal structures aimed at maximizing value creation and
capture; 4) practical experience applying the tools, techniques, and processes of M&A to sell or acquire. By the
end of the course students will be fully conversant with the institutional and financial issues of M&A relevant to
careers in corporate development, private equity, venture capital, consulting or investment banking.
COURSE SCOPE
The course will analyze M&A from the perspective of a financial advisor and the perspective of a corporate leader,
integrating issues from economics, accounting, law, strategy and organizational behaviour. The primary focus is on
Canadian institutional forms, laws and regulations, with reference to relevant regulatory differences in international
jurisdictions. The course is organized within an overall strategic framework, which decomposes the process and
content of M&A. The sources of value creation in M&A are explored, in order to understand how both financial
and strategic buyers are willing to pay a premium for a targeted organization. Alternative valuation techniques are
reviewed and practiced in case examples and in a comprehensive individual assignment. The factors that drive
deal strategy, design and construction are examined, including deal structuring, takeover defense mechanisms,
the sales process and negotiations. Finally, the issues of post-merger integration are considered a key M&A
success factor. During the latter half of the course, students are provided with in-depth group-based opportunities
to apply their process and valuation knowledge. Real cases are used throughout the course and, periodically,
corporate leaders and M&A specialists will be invited in as guest speakers to share relevant experiences.
REQUIRED RESOURCES
Consists of a course package of case studies, a technical valuation textbook by Joshua Rosenbaum and Joshua
Pearl, Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions, J. Wiley, 2nd University
Edition, 2013, the book The Art of M&A Strategy, Smith & Lajoux, McGraw-Hill, New York, 2012.
COURSE FORMAT
There is a 2-hour class each week of the course. Classes mix lectures with in-depth group case discussions. The case
discussions depend on student preparation and active participation in class.
Component
Due Date
Weight
Class participation
Individual assignment
Group project
Final Exam
Throughout
Mid-course
Final 2 weeks
Exam week
20%
25%
40%
15%
RSM 2310
Analysis and Management of Fixed Income Securities
Redouane Elkamhi
Redouane.Elkamhi@rotman.utoronto.ca
INSTRUCTOR BIO
Redouane Elkamhi has a PhD in Finance from McGill University. His areas of expertise in teaching are in Fixed
Income, and Futures and Options both at the MBA and undergraduate level. He has also been involved in
executive programs at Standard and Poors in New York.
In addition to his PhD in Finance Redouane also has a Bachelors degree in Electrical Engineering and an MBA. His
previous work experience includes being an electrical engineer for a mining company and an electrical utility. He
has also held a position as an industrial risk evaluator for an insurance company.
TARGET AUDIENCE
Students interested in pursuing a career in fixed income or interested in gaining a solid understanding of the bond
market generally. The course will provide the tools to analyze and understand various bond structures, simple yield
curve strategies and the different fixed income products across the credit spectrum.
COURSE MISSION
1. Linking bond theories with practice - use of 'mini' cases in class to demonstrate/apply theory to real issuers
2. Building knowledge of current fixed income markets and issues b
3. Become familiar with:
Interest rate risk management
Term structure modeling
The market of defaultable securities
Securitisation
3. Structuring deals - ability to understand and analyze a prospectus and bond trust indenture
4. Understanding of bond mathematics, bond pricing and relative value of product across the credit spectrum
COURSE SCOPE
This course describes important fixed income securities and markets. It will provide an overview of traditional bond
and term structure concepts as well as review a number of bond structures relevant to the different sectors of the
fixed income market.
REQUIRED RESOURCES
Sundaresan, S. (2009) Fixed Income markets and Their Derivatives, Academic Press
Martellini, L., P. Priaulet and S. Priaulet (MPP): Fixed income securities: Valuation, Risk Management, and Portfolio
Strategies, John Wiley
COURSE FORMAT
13 regular sessions
Component
Group Assignment
Group Assignment
Final Exam
Due Date
Week 7
Week 12
Exam Week
Weight
20%
20%
60%
RSM 2312HY
Value Investing
Eric Kirzner
kirzner@rotman.utoronto.ca
Maureen Stapleton
Maureen.Stapleton@Rotman.Utoronto.Ca
TARGET AUDIENCE
Students interested in a rigorous course on company evaluation using the Value approach.
COURSE MISSION
The focus of this course is on the fundamental value-based approach to investing pioneered by Benjamin Graham
and developed by Graham and David Dodd. The overall objective of the Graham/Dodd approach is to find
undervalued companies based on their estimated intrinsic values. The critical element in the Graham approach is
the search for the margin of safety (i.e. the purchase of $1.00 of intrinsic value for $.50).
COURSE SCOPE
The emphasis of this course is on both intellectual stimulation and practical rigorous applications, through the
security analysis project. The course has a heavy participation component and emphasizes the development of
both quantitative analytic skills and presentation skills. By completing this course the student should be able to
conduct a full equity analysis of a company including a rigorous quantitative and qualitative assessment,
culminating in a valuation conclusion. The student will develop their ability to present their conclusions in a
coherent and professional manner. The value investing course received a $1,000,000 gift from a generous donor in
2006. The 2014/2015 Value class will provide recommendations for maintenance and changes to the
Rotman RSM2312 $1,000,000 VIP.
REQUIRED RESOURCES
TEXTS
Bruce C.N. Greenwald, Judd Kahn, Paul D. Sonkin and Michael van Biema, (GK) Value Investing from Graham to
Buffett and Beyond, Wiley Finance, 2001.
Benjamin Graham, (BG) The Intelligent Investor, Revised Edition, Collins Business Essentials,1995.
COURSE FORMAT
Full year, half-credit course in 13 bi-weekly sessions. Traditionally, students in Value Investing have had the
opportunity to travel to Omaha, Nebraska to meet with Berkshire Hathaway CEO Warren Buffett. In other years, the
class has travelled to San Diego, California to visit Charles Brandes and Robert Arnott. Please be aware that neither
of these trips are guaranteed components of the course. In the case that both trips are offered, the prof and
students will negotiate who goes where. If only one trip is offered, there is the possibility that there may be a 25
student cap.
EVALUATION AND GRADES
Grades are a measure of the performance of a student in individual courses. Each student shall be judged on the
basis of how well he or she has command of the course materials.
The final grade will be calculated as follows:
Component
Individual papers and presentations*
Group Reports
Final Exam
Weight
24 %
36 %
40 %
Evaluation of the presentations will be done by either Professor Eric Kirzner or by Maureen Stapleton.
RSM 2314
Private Equity and Entrepreneurial Finance
Alexander Dyck
adyck@rotman.utoronto.ca
TARGET AUDIENCE
This is a recommended course for students following the corporate finance/investment banking major. The course
should be useful for students interested in consulting, entrepreneurship, venture capital, investment banking, private
equity, and funds management (e.g. as an institutional investor).
COURSE MISSION
The last decades have revealed a significant increase in the demand for and supply of private equity (e.g. venture
capital and Leveraged Buyout Funds). Firms that receive private equity funding see a changes in incentives and
constraints, affecting other firms including competitors, suppliers and buyers. These changes have produced new
demands for providers of debt finance, investment banking services, consulting and diligence services. The primary
objective of the course is to improve students ability to understand the concepts and institutions involved in
entrepreneurial finance and private equity. The course utilizes tools and frameworks from economics, finance,
strategy, accounting and law, applying them to case situations.
COURSE SCOPE
The course will be divided into three sections:
Users of private equity This section focuses on the challenges entrepreneurs/managers face in attracting
finance to fund their ideas. Students will explore frameworks to assess the qualitative and quantitative
attractiveness of investment opportunities, and will consider the nuances of term sheets and how choices affect
incentives and opportunities.
Private equity partnerships This section focuses on issues facing private equity partnerships in terms of
evaluating, choosing, and managing private equity investments, including the challenges of exits. This section
will explore valuation frameworks as well as possible ways to improve them, as well as incentives and features
in Partnership agreements with LPs.
Investors (LPs) and private equity partnerships: This section will analyze issues in structuring private equity
partnerships and in raising funds for them. It will also touch on emerging issues from direct investing by pension
funds, to IPOs of private equity firms, to the opportunities and challenges arising from the spread of private
equity to India and China.
REQUIRED RESOURCES
Course package of case studies and textbook, Venture Capital and the Finance of Innovation, by Andrew
Metrick and Ayako Yasuda, second edition.
COURSE FORMAT
12-13 regular sessions. Case discussions, lecture, and general class discussion. Occasionally, guest speakers will be
invited to address the class outside of regular class hours. This schedule will be determined closer to the beginning
of the term. The Wednesday evening timeslot (6:30-8:30pm) may be used.
Component
Class Participation
Case Write-ups and
Financial skills evaluation
Investment Committee
Pitch
Exam
Due Date
Ongoing
Ongoing
Weight
30%
20%
Close to end of course
20%
Exam week
30%
RSM 2315
The Management of Private Wealth
Tom McCullough
tom.mccullough@rotman.utoronto.ca
TARGET AUDIENCE
This course focuses on the financial management issues faced by private (vs. institutional) wealth holders. It will be
of interest to students in funds management who aim to service the private individual market or any student who
want to develop better understand wealth management for their own personal and family purposes.
COURSE MISSION
The goal of the course is to help students develop an understanding of the unique financial management problems
and opportunities faced by wealthy individuals and families, and practical, integrated approaches to dealing with
them. We also want to help students see and be able to apply the integrated approach required in the
management of private wealth.
COURSE SCOPE
The course covers the following major topics:
Understanding and quantifying client objectives
The individual life cycle and its impact on financial planning
The management of personal and market risk
Asset allocation decisions and investment management
Tax, insurance and estate planning
Alternative investments, real estate and private equity
Succession planning for family businesses and private wealth
REQUIRED RESOURCES
Textbook: Family Wealth Management, Daniell and McCullough and articles from various respected financial
journals.
COURSE FORMAT
12 regular sessions and one extended group presentation class.
Component
Due Date
Class Participation
Ongoing
Assignment
Week 3
Test #1
Week 6
Test #2
Week 9
Group report/
Week 12
presentation
Weight
15%
10%
20%
25%
30%
RSM 2316
Introduction to Hedge Funds and Broker Dealers
Jon Aikman
Jon.Aikman@Rotman.Utoronto.Ca
TARGET AUDIENCE
Students interested in issues regarding how hedge fund and investment banks work and how to launch and run a
hedge fund.
COURSE MISSION
Introduction to hedge funds, executing brokers and prime brokers, what they are, what they do and what risks are
associated with them. This course is about the interrelationship between hedge funds, investment banks and their
investors.
COURSE SCOPE
The course will provide a broad review or many different areas of hedge funds and investment banks from
strategies, management, and marketing. Also, the history of hedge funds will be explored, including the risks of
failure of hedge funds, such as LTCM, and brokers, such as Lehman Brothers, and the distress or certain investment
banks, such as Bear Stearns. Also, practical applications of launching and running a simulated hedge fund will
demonstrate the challenges, risks and potential rewards of alternative investments to investors, hedge funds and
their service providers.
REQUIRED RESOURCES
1. When Prime Brokers Fail, J.S.Aikman, John Wiley / Bloomberg Press, 2010
COURSE FORMAT
Winter Intensive (10 days x 3.5 hours)
Component
Due Date
Weight
Participation
20%
Quiz
20%
Group presentation
20%
Exam
Final Class
40%
RSM 2317
How Banks Work: Management in a New Regulatory Age
Richard Nesbitt
richard.nesbitt@rotman.utoronto.ca
INSTRUCTOR BIO
Richard Nesbitt is an Adjunct Professor of the Rotman School of Management, University of Toronto. In addition he is
Chair of the Advisory Board of the Mind Brain Behaviour Hive, University of Toronto.
Mr. Nesbitt was Chief Operating Officer, CIBC and CEO of CIBC World Markets until he retired from that position in
September 2014. In this role, he was responsible for the global operations of Wholesale Banking, Technology and
Operations, Strategy and Corporate Development, CIBC's International Operations, including CIBC First Caribbean
International Bank, and Treasury. Mr. Nesbitt joined CIBC in 2008 following his more than 20 years of experience in
the securities industry. From 2004 to 2008 he was Chief Executive Officer of TSX Group having joined TSX as President
of TSX Markets in 2001.
TARGET AUDIENCE
This course is designed for students who intend to work in the financial services industry or in an industry that is
closely aligned to financial services. Students will learn about the businesses of banks under new regulations that
have been adopted since the Credit Crisis. Those who take the course will learn how common bank failures are in
recent history and, while the changes made by regulators may limit the impact of bank failures on depositors and
governments, they do not protect us from future banking crises. Students will learn how banks make money, the key
components of their business model and the impact of regulation today.
COURSE MISSION
The goal of this course is for the students to develop a real world understanding about managing a bank or other
financial institution. Today we are in a world of trade-offs: Investor protection versus investor choice, better
capitalized banks but higher interest costs for loans, less debt for consumers but higher mortgage payments.
Second year MBA students will gain direct exposure to key business leaders from the banking and regulatory
community. These experts will provide new perspectives on important changes to the financial services industry.
When you begin your new role in a bank or financial services firm you need to know how fundamentally these
businesses have changed in the past few years. Regulatory changes are on every bankers mind, even the
recruiter sitting across from you in an interview. The course examines the business, social, political and regulatory
implications for banks in Canada, United States, and United Kingdom in light of the dramatic events of 2008 and
the reaction by regulators to these events. The course will then examine key business segments and recent
changes and issues including regulations that affect todays managers. The key educational objective is to
develop a critical appreciation of the trade-offs that are made in managing in the financial services industry as well
as a deeper understanding of the industry that many students will join.
COURSE SCOPE
This course will be delivered in a unique format. All materials (where possible under copyright law) required for the
course will be available on line primarily through R-World and Rotman-X. Each session will be discussion and
debate among the students and the professor around several questions posed based on the Rotman-X materials.
We will strive to have at each session a guest who will lead the second hour. The guest will be a leading expert in
the field relevant to the sessions topic. The course consists of 26 hours of discussion and student and guest
presentations.
REQUIRED RESOURCES
The reading includes, book chapters, case studies, and articles. (All on portal R-World and Rotman-X)
COURSE FORMAT
13 weekly sessions.
Component
Due Date
Weight
Class Participation
Ongoing
30%
Assignments #1 & 2
Assignment 1 - Prior to Session 5

Assignment
2 13
Session 10
Session
20%
Final Presentation
Final Exam
During Exam Period
40%
10%
RSM 2319
The Revolution in Finance: Markets, Institutions and Organizations
Chris Kobrak
Chris.Kobrack@rotman.utoronto.ca
INSTRUCTOR BIO
For 20 years, Chris Kobrak has taught at ESCP Europe. In January 2013, he assumed, jointly with his position in Paris,
the Wilson/Currie Chair in Canadian Business and Financial History here at Rotman. He is an International Fellow at
the Centre for Corporate Reputation, Oxford University and serves on the editorial board of several journals. A CPA
with extensive international work experience, he holds an MBA in Finance and Accounting, and PhD in Business
History from Columbia University. His publications include Banking on Global Markets: Deutsche Bank and the
United States, 1870 to the Present, and articles in Business History, Business History Review, Enterprise and Society, as
well as other journals on a wide range of business and financial topics.
TARGET AUDIENCE
This course is designed for finance and non-finance majors who want to understand the social significance of our
financial system. An extensive knowledge of finance beyond basic MBA courses is not required.
COURSE MISSION
This course aims at addressing the financial amnesia that contributes to financial crises. By tracing the long-term
evolution of both attitudes about and forms of delivering financial services, the course will give students a better
perspective on the advantages and disadvantages of financial activity. Students will come away with a sense of
what is unique and commonplace about our time. The course will deal with the institutional, intellectual and
organizational building blocks of modern finance. It will help students develop a clearer sense of finances role in
creating sustainable economic and social value.
COURSE SCOPE
The course consists of 26 hours of lecture, discussion, movies, and student presentations, buttressed by extensive
reading.
REQUIRED RESOURCES
The reading includes a book (The Ascent of Money, Niall Ferguson, 2011), book chapters, case studies and articles.
(On reserve or on Portal)
COURSE FORMAT
13 weekly sessions.
Component
Due Date
Weight
Class Participation
Ongoing
20%
Group Debate
Last two full sessions, group
20%
Written Debate Report
Four days after debate, group
20%
Take Home Exam
Distributed in final class, due in one week,

individual
40%
RSM 2320
The Canadian and American Financial Systems - Comparisons and Contrasts
Chris Kobrak
chris.kobrak@rotman.utoronto.ca
Joe Martin
jmartin@rotman.utoronto.ca
TARGET AUDIENCE
In 2008 there was the beginning of a credit crisis, global in scope, which has come to be known as the Great
Recession. This course will be of interest to those students who are interested in understanding why the Canadian
and American financial systems performed so differently during that recession.
COURSE MISSION
The main objective of the course is to assist the student in understanding how public policy shapes financial systems
and to understand how two North American systems, both rooted in British tradition, have evolved in such a
different fashion.
In order to accomplish this Mission, key turning points in each countrys financial system will be dissected, in order to
compare, contrast and to draw conclusions for the reasons as to why the systems differ.
The student will be expected to come to their own conclusions as to which system is better.
COURSE SCOPE
This course is divided into two parts. The first is a narrative dealing with the historical development of the major
components of the Canadian and American systems, banking, insurance, etc., and is instructor led.
The second part will deal with specific aspects of each countrys financial system. Students will be assigned groups
early in the course. Each group will be expected to report on an assigned topic involving the evolution of a specific
aspect of financial sector, e.g., corporate governance, venture capital, private equity.
REQUIRED RESOURCES
For 2016, a book on the subject will be available for the first time. In addition, there will be a course package of
case studies. Articles and case studies will also be posted on the portal.
COURSE FORMAT
13 Sessions including a Mid Term Group Presentation and a final take-home exam.
This course will also incorporate outside speakers from the US and Canadian Financial Systems.
*Please note, groups are formed by the professors.
Component
Due Date
Weight
Class Participation
Ongoing
20 %
Mid term team assignment
Weeks 10 through 12
35 %
Take Home Exam
To be distributed in class in week 12

Due by noon the following week.
45 %
RSM 2321
Islamic Finance in Canada
Walid Hejazi
hejazi@rotman.utoronto.ca
TARGET AUDIENCE
The target audience for this course is quite broad. As the Middle East and Asian economies continue to grow at
relatively rapid rates, trade and investment linkages with Canada will increase. To the extent Shariah finance is
important to one of the businesses involved in any transaction, then having an understanding of Shariah (Islamic)
financing principles will serve as a competitive advantage. Ultimately, this course in Islamic Finance will give
Rotman students a competitive advantage in this space, allowing students to differentiate themselves and stay
ahead of curve.
COURSE MISSION
The objective of this course is to review the underlying principles of Islamic Finance, and show how the outcomes of
such principles differ from those in a conventional financial system. The course begins by covering the underlying
principles of Islamic Finance and discusses how financial instruments differ across the two systems. We also tackle
the misconceptions that exist of what Islamic Finance is. For example, the ban on interest does not mean money
can be used for free, rather the cost to borrow money in an Islamic context is competitive or similar to what
would be paid in a conventional arrangement, but other dimensions of the relationship differ. There will be a focus
on the relative cost, distribution of risks across borrowers and lenders, and efficiency. The issue of efficiency is very
important: in conventional finance, financial institutions assess risk, and transfer funds from lenders to borrows, using
the interest rate to mitigate risks. This results in the efficient allocation of resources. We consider how the efficiencies
of a Shariah-compliant financial system compares to that of a conventional financial system?
COURSE SCOPE
The course begins with a detailed discussion of restrictions that result from Shariah finance. We then review the
differences , vis-a-vis costs and risks, between conventional and Shariah compliant securities, including mortgages,
bonds, and bank accounts. We also discuss how financial structures are being created that are both Shariah
compliant and replicate the payoff structures of conventional structures. The roles of Shariah boards are discussed
to ensure the integrity of the Shariah structures. We then discuss the legal and taxations implications of Shariahcomplaint financial structures.
REQUIRED RESOURCES
All readings will be available on-line or in the course packet. No textbook is required.
Component
Participation
Team Presentation
Take Home Exam
Ongoing
Last Day
Weight
20%
40%
40%
Marketing
Area Coordinator: David Soberman (416.978.5445 david.soberman@rotman.utoronto.ca)
Dilip Soman (416.946.0195 dilip.soman@rotman.utoronto.ca)
RSM2500H
RSM2504H
RSM2505H
RSM2506H
RSM2507H
RSM2508H
RSM2511H
RSM2512H
RSM2513H
RSM2516H
RSM2517H
RSM2521H
RSM2522H
RSM2524H
Marketing Strategy
Consumer Behaviour
Strategic Marketing Communication
Marketing Research
Marketing Analysis & Decision Making (not offered in 2015-2016)
Sales Management
Marketing Financial Services
Branding
Pricing (also offered in 2015 Summer Term)
Deep Customer Insight: Qualitative Research Practicum
Innovation, Foresight and Business Design
Marketing Using Information Technology (not offered in 2015-2016)
Marketing and Behavioural Economics
Design Practicum
RSM 2500 (Fall 2015)

Marketing Strategy
Samuel G. Cukierman
sgc@strategicguidance.com
TARGET AUDIENCE
This course is for students who enjoy case discussion and active class participation in the strategic planning process
as it relates to consumer analysis and the cause and effect of business decisions. The course will appeal to business
generalists who wish to supplement their marketing skills, or to those seeking a marketing career. The backdrop is
that we live in the right now generation, and yet aging boomers outnumber teenagers two to one. Add in
stressful competition, and a changing and far more demanding consumer, and these serve as challenges for
creating strategies with meaningful differentiation. Students will need to shift their thinking about developing
marketing strategies in a world that values ethics, and socially responsible leadership.
COURSE MISSION
This course uses the case study method from the text and casebook, supplemented by special handouts and guest
speakers, to teach marketing strategy as an organizational decision-making process. Students will gain an
understanding of and be able to put in practice the processes used to make informed decisions, learning to what
works in varied industries and scenarios. We quickly move from theoretical analysis to a detailed dialogue of
practical decision-making and the implications arising from those decisions - one in which management commits
people and cash to compete effectively in markets which they choose to serve.
To develop thinking and analytical skills in strategic marketing in order to assess markets and create value.
To develop skills in defining business drivers, and the factors influencing strategic and tactical decisions.
To develop an understanding of the critical success factors that make the strategic planning process
effective beginning with development of brand image, assessment of competition, creating a customer
value proposition, relating to the importance and relevance of customer satisfaction, to the meaning and
role of high performing teamwork, and how these factors influence the bottom line.
To appreciate the use of marketing strategy for new products and technology in our current environment
both domestically and globally.
COURSE SCOPE
This course examines the processes by which businesses decide how to compete in the markets they choose to
serve. The emphasis is on the analysis of market opportunities and sources of competitive advantage. The course
also looks at the strategic implications of market evolution and methods of allocating resources to new and
established products. Take this course if you want to make money. Use the processes to sharpen your consulting
skills.
REQUIRED RESOURCES
1. Textbook: Strategic Marketing (Tenth Edition), David W. Cravens and Nigel F. Piercy, McGraw Hill, 2009
2. Course Package: The course uses a case package.
COURSE FORMAT
13 regular sessions
Component
Class Participation
Case Write-up 1
Case Write-up 2
Due Date
Ongoing
Week 5
Week 9
Weeks 12 and 13
Weight
20%
25%
25%
30%
RSM 2500 (Spring 2016)

Marketing Strategy
Sridhar Moorthy
moorthy@rotman.utoronto.ca
TARGET AUDIENCE
Marketing Strategy is an integrative course in marketing dealing with strategic issues in marketing. It is intended for
students interested in marketing, consulting, and entrepreneurship. The subject matter of the course is how to
develop sustainable competitive advantage through marketing means.
WHAT THE COURSE IS ABOUT
As alluded to above, it is about marketing and strategy. Thus it is a natural follow-up to the first-year marketing
and strategy courses. This course will teach you how to develop unique value propositions for consumers, backed
up by assets that are hard to replicate by competitors. These are the sorts of decisions CMOs, and even CEOs, get
involved in.
This is essentially a case course, supplemented by lectures and guest speakers. The cases have been chosen to
cover a wide range of marketing strategy issues, in a variety of product and geographical settings. The variety is
part of the design: you will learn from comparing cases, and figuring out how the similarities and differences
between them map into strategy.
This course will be offered in two flavors: as a Winter Intensive, from January 4-15, and as a regular 13-week
Winter/Spring course. The sole difference between the two versionsother than the time-formatis that only the
13-week version will feature Live Casesi.e., cases involving actual companies based in Toronto. (The 2015 edition
of the course featured live cases from InPost Canada and Indigo.) These live cases will involve student teams
interacting with company executives to understand the real issues facing these firms and developing
recommendations to address those issues. In lieu of the live cases and the mid-term exam, the Intensive will feature
a final exam.
REQUIRED RESOURCES
No textbook; packet of readings and cases.
COURSE FORMAT
13 regular sessions
EVALUATION AND GRADE DISTRIBUTION (for Intensive in parentheses)
Component
Due Date
Class & online participation
Ongoing
Mini case write-ups
Ongoing
Mid-term examination (Final for Intensive)
March (January)
Live case report & presentation (team-based)
April
Live case critique (team-based)
April
Weight
15% (20%)
15% (20%)
30% (60%)
30% (0%)
10% (0%)
RSM 2504
Consumer Behaviour
Scott Hawkins
hawkins@rotman.utoronto.ca
TARGET AUDIENCE
Students interested in investigating social and psychological foundations of consumer thought and behaviour.
Course content is oriented toward basic principles of psychology and other social sciences and their application to
a wide range of consumer activities.
COURSE MISSION
Successful managers have the ability to design and deliver unique consumer value in ways that efficiently utilize the
companys resources. This course focuses on the analysis of consumer thoughts, feelings, and behaviours by
providing a detailed account of the theory of consumer behaviour. We will examine the personal, psychological,
social, and cultural aspects of the marketing environment, and explore the nature of these influences on the
buying behaviour of individuals and groups. This course has four overarching objectives:
To encourage appreciation for the value of consumer behaviour in determining successful marketing
strategies.
To review recent conceptual, empirical, and methodological developments in research on consumer
behaviour.
To provide a coherent framework for interpreting consumer reactions to marketing stimuli.
To provide experience in applying behavioural principles to the analysis of marketing problems and the
design of marketing strategy.
Classes will use a variety of methods: readings, lectures, application exercises, and class discussions.
COURSE SCOPE
The primary goal of this course is to enhance understanding of consumer behaviour, from determining consumer
needs to building customer relationships. Behavioural concepts from various social science disciplines are used to
examine consumer motivations, perceptions, attitudes, decisions, and actions. The emphasis is on using this
knowledge to capitalize on marketing opportunities.
REQUIRED RESOURCES
Textbooks: (1) Consumer Behaviour: Buying, Having, and Being, (6th Canadian Edition), Michael R. Solomon,
Katherine White and Darren Dahl, Toronto, ON: Prentice Hall
COURSE FORMAT
12 regular sessions
Component
Class Participation
Application Paper
Midterm Exam
Final Exam
Due Date
Ongoing
Week 4
Week 7
Exam Week
Weight
15%
15%
35%
35%
RSM 2505
Strategic Marketing Communication
Instructor - TBD
TARGET AUDIENCE
This course is for students who are intrigued by the impact that technology and the changing face of the
Canadian market is having on evolving traditional marketing disciplines to engage audiences. The course will
present new perspectives to those already in or interested in pursuing a marketing career either on the side of a
marketing company, advertising agency or specialized marketing related service, e.g., media, social engagement,
research, etc., or even entrepreneurship that involves customer engagement.
COURSE MISSION
This course uses the case study method and expects high class participation. There will be a primary textbook
reference and supplemented by industry expert guest speakers. The focus will be to teach marketing
communication as a decision-making process in real market cases. The course aims to help broaden a marketers
thinking and provide tools to explore business opportunities using consumer insights and techniques facilitated by
technology.
COURSE SCOPE
This course has been designed to provide you with the strategic thought process and the tactical tools for making
marketing decisions; specifically in the area Marketing Communication. You will learn how to create marketing
programs that effectively engage your audiences and build brand value.
With real life projects, you will be guided to come up with solutions to the unique challenges youre your brand
poses. The course will help you sharpen your creative abilities to explore ideas that build brand equity and business.
REQUIRED RESOURCES
Textbook (TBD)/ Cases.
Readings package and readings posted on R-World.
COURSE FORMAT
13 weekly sessions
Component
Class Participation
Case executive summaries/ mini assignments
Final Project
Due Date
Ongoing
Ongoing
Last class
Weight
20%
40%
40%
RSM 2506
Marketing Research
Delaine Hampton
delaine.hampton@rotman.utoronto.ca
TARGET AUDIENCE
This course is relevant for students interested in general management, marketing, market research and innovation
in businesses that are fundamentally consumer or customer centric. The course emphasizes the pivotal role market
research has in supporting decisions at all levels and stages of business management. Students will learn how to
design market research studies and interpret the findings to support the most common and important business
decisions. The course will also expose students to emerging areas of market research and consider how they are
reshaping business practice.
COURSE MISSION
To give students experience with the most frequently used market research methods that guide business
decisions in consumer or customer markets today.
To equip students to answer complex business questions by integrating data on consumer behaviour with
market structure information to identify opportunities and evaluate alternatives.
To provide a business application context for the development of skills and knowledge of foundational
research methods.
To expose students to emerging areas of market research that are shedding new light on how
consumers/customers make decisions in complex markets.
COURSE SCOPE
Growing brands in todays marketplace requires deep understanding of the target consumers; their wants, needs,
habits, wishes and beliefs about the category of interest. It also requires a rigorous understanding of existing market
structures: competitive landscape, equities of existing brands, retail dynamics, response to marketing investments
and purchase patterns. The market research profession offers literally hundreds of methods, tools, analytics and
models for developing this understanding and evaluating options. This course will highlight the range of market
research practices and select a few of the most important tools for student skill development and practice. These
include:
Hands-on experience with foundation methods for understanding consumer attitudes, opinions, habits and
behaviours - survey research, semantic scales, ethnography, and various theories or models of the
consumer decision process.
Exposure to the range of methods for understanding brand strength and competitive positions in a
category, including attitudinal methods and behavioural measures derived from purchase data.
Construction of market size estimates and forecasts that integrate bottom up buying behaviours with top
down trends and industry data. The assessment of overall market size, based on consumer fundamentals, is
a powerful skill to bring to any marketing strategy project.
Practice with the design and analysis of concept tests and trade-off/conjoint studies, which are the
workhorse methods of product developers and innovators.
Projects and exercises designed to teach the market research tool and illustrate how it is used to support
decisions in common business situations.
Guest speakers providing perspective on the emerging areas of market research services and research
science.
INSTRUCTOR BIO
Delaine Hampton joined Rotman as an Executive in Residence in 2010 following a 35 year career in marketing and
market research at Procter & Gamble. In her last 10 years with P&G, Delaine led upstream innovation groups in the
Consumer and Market Knowledge Department. Her team developed research methods and models on a global
corporate level. These included predictive models for new products incorporating breakthrough analytical and
simulation technologies. Delaine participated with the Marketing Faculty in the writing of FLUX, providing the
chapter on adoption of new marketing science in organizations.
REQUIRED RESOURCES
Many of the readings will be available online through the course portal. A standard market research textbook will
be selected as a required resource.
COURSE FORMAT
Student teams will tackle a real business challenge sponsored by an outside organization. Each team will tackle a
different sponsored project. The flow of the course will introduce the necessary tools and concepts in the sequence
required for the progress of the business challenge. The assignments are designed to give individual practice with
the main tools. These same elements will be required for the completion of the team projects. The course material
will be covered through a combination of classroom sessions, workshop sessions and individual team coaching
sessions with the instructor. The final session will be student team presentations of their projects to the panel of all
sponsors.
Component
Class Participation
Assignment 1: Observational Research
Assignment 2: Questionnaire Design
Assignment 3: Market Size Estimate
Assignment 4: Upstream Research Report
Group Project Presentation
Group Project Written Report
Due Date
Ongoing
Week 2
Week4
Week 7
Week 9
Week 13
Week 13
Weight
15%
10%
15%
20%
5%
15%
20%
RSM 2508
Sales Management
Agata Mossop
TARGET AUDIENCE
All students who intend to lead a business, be accountable for overall revenue or expect to interface with the sales
function should take this course to be able to provide more effective oversight and guidance for the sales function.
This would include prospective CEOs, entrepreneurs, marketing executives and line managers. In addition all
students who see selling (products, services, ideas, yourself) as a core skill in their chosen profession should take this
course to sharpen their personal selling tools.
COURSE MISSION
1. Provide holistic approach/toolkit to developing optimal sales forces & revenue creation strategies
2. Deliver an enhanced executive ability to manage your sales teams
3. Enhance your personal selling capabilities (to sell products, services, ideas and yourself)
4. Build appreciation for various approaches for maximizing return on sales investment
5. Develop visibility into the inter-relationship of buyer and seller and how this plays out in the market
6. Develop an understanding of how buyers buy
COURSE SCOPE
Nothing happens until something is sold
This course is intended to develop your ability to manage your most critical business resource your revenue
generators. We will study the intersection of individual selling, sales management and sales strategy (theory and
current practice). We will develop an integrated toolkit that will give you a competitive advantage in managing
your future companies toward maximum value creation and give you the personal skills to sell your products,
services or ideas to your target buyer.
By the end of the course students will have a holistic overview of the concepts and tools available to the sales
professional and strategic sales manager. The three essential building blocks of a successful sales organization will
be covered in detail:
1. Strategic sales planning
2. Best practices in sales force management
3. Personal selling
REQUIRED RESOURCES
Course package: various articles, sales plans and corporate policies to be provided by the instructor
COURSE FORMAT
13 x 2 hour regular sessions
Component
Class Participation
Group presentations
Final Exam
Due Date
Ongoing
Week 7&8
Exam week
Weight
20%
40%
40%
RSM 2511
Marketing Financial Services
Dan Richards
drichards@rotman.utoronto.ca
RSM2511 VIDEO HIGHLIGHTS
TARGET AUDIENCE
Students who work in or intend to enter the Financial Services sector.
COURSE MISSION
The course is designed to give students real world, practical insights on what it will take to win in the Canadian
and global financial industry over the next five to ten years and to learn from leading edge companies in the
financial services arena.
GROUP ASSIGNMENT: RBC NEXT GREAT INNOVATOR CHALLENGE
For the past five years, RBC has invited business students across Canada to compete for a $20,000 grand
prize, by developing presentations on a specified topic.
For the group assignment, students will develop a presentation for this competition. Past participants report
that while its a time commitment of 15 to 20 hours, its a terrific learning experience and a great resume
builder for the winners. Note that this is subject to the theme of the RBC Next Great Innovator Challenge
being appropriate for the course.
Note: In 2013, two teams from the course qualified for the final five and had the opportunity to present to RBC
senior executives. One of the teams was the overall winner of the $10,000 prize.
GUEST SPEAKERS
Most classes begins with an industry speaker - some of the best learning for students has come from the
chance to hear senior guest speakers in candid conversation.
Guest speakers in the past included:
Randy Ambrosie
Barry Columb
Caroline Dabu
Trudy Fahe
George Hopkinson
Peter Intraligi
Patrick Kennedy
Scott Mackenzie
Jeff Marshall
Som Seif
Gerry Solway
CEO
President
VP, Retirement Planning
CEO
CEO
CEO
Exec VP
CEO
VP Marketing
CEO
CEO
Accretive Advisor
Presidents Choice Financial
BMO Financial Group
Walmart Bank of Canad
Knowledge First Financial
Invesco Trimark
PriceMetrix
Morningstar Canada
Scotiabank
Purpose Investments
Home Trust
In addition, based on requests from students interested in learning more about marketing in capital markets,
in the past optional small group breakfasts were organized with David Fleck, CEO of Macquarie Capital
Markets Canada and Andrew Kiguel, Managing Director with GMP Securities.
COURSE INSTRUCTORS
In 2012 and 2013, the course instructors received a Rotman Teaching Excellence Award based on student
evaluations.
Dan Richards has taught at Rotman since 1992. He has built and sold two start-ups in the financial industry (a
research company to Environics in 1998 and a conference business to Rogers Communications in 2001) and is
currently at work on his third. In 2002, he was recruited to join a small public company that had rolled up five
investment distribution firms and was losing money; as CEO he helped stabilize the firms finances and led its
successful sale 18 months later.
Dans columns, conference presentations and award winning book have made him a household name
among Canadian financial advisors; he also writes a regular column for the Globe and Mail Report on
Business and is a regular on BNN. He has an undergraduate degree in economics from McGill University and
an MBA from Harvard Business School.
Mark Wettlaufer has co-taught this course since 2005. He led TD Asset Management for over ten years in the
1990s; during his tenure, TD experienced dramatic share gains. In 2001, he took off three years to explore the
world by motorcycle, and has spent the past seven years as head of Products and Marketing at Fidelity
Investments Canada. Mark has an undergraduate degree from Western and an MBA from Harvard Business
School.
CASES
The course uses a combination of recent cases and in depth articles from leading publications that act as
living cases. Video segments enhance the learning process.
COURSE FORMAT
12 or 13 regular sessions 2 hours in length per week, incorporating guest speakers, articles and case
materials.
Component
Class Participation
Group Assignment
Final Exam
Due Date
Ongoing
RBC NGI Challenge
Exam Week
Weight
20%
40%
40%
RSM 2512
Branding
Scott Hawkins
hawkins@rotman.utoronto.ca
TARGET AUDIENCE
The course is intended for second-year MBA students interested in branding issues, and should appeal to many
students. Students interested in a career in marketing will find the material essential. Students interested in financial
careers should feel at home with the idea that products become brands through marketing investments. Brands
are financial assets that can be leveraged, bought, and sold, just like any other asset. Students interested in
management consulting should appreciate that brand strategy is an important sub-practice at most strategyoriented consulting firms. Students interested in legal careers will find the material on brand equity relevant to cases
involving trademark infringement/deceptive advertising.
COURSE MISSION
To develop an understanding of the strategic importance of brands in creating value for
customers and firms.
To appreciate the nature of the challenges in planning, executing, and controlling branding
strategies.
To develop a customer-based view of brand equity that explicitly addresses the role of cognitive,
emotional, behavioural, social, and cultural factors in creating brand equity.
To explore the value of current theories and methods from psychology, sociology, and
anthropology in understanding the impact of brands on customers.
To gain familiarity with some of the tools and tactics that firms use to create, sustain, leverage, and
defend brand equity.
To refine analytical and decision making skills and the ability to express conclusions orally and in
writing.
COURSE SCOPE
Brands are defined by a name, term, sign, symbol, or design, or a combination of them, intended to identify the
goods and services of one seller or group of sellers and to differentiate them from those of competitors. However,
brands are valuable because those distinctive elements mean something to consumers. Sometimes they make a
product more memorable; sometimes they carry rich and powerful associations; sometimes they evoke feelings
and emotions; sometimes they perform important social functions; and, sometimes they carry significant cultural
meaning. Consumers may even form relationships in which the brands help to define who they are and
communicate this self-image to others. The varied meanings and functions of brands for consumers create
enormous challenges and opportunities for marketers.
The value that brands can create for consumers also makes the valuable assets for organizations. Brands represent
valuable assets that must be created, sustained, leveraged, and defended. Students will assume the role of senior
marketing managers responsible for the design, implementation, and evaluation of branding strategies. This course
will use case analysis, lectures, discussion, and a group project to reinforce successful decision making and
communication skills for students who are interested in developing expertise in managing brands.
REQUIRED RESOURCES
There are two required course packages (one available from the bookstore and one to be purchased online).
COURSE FORMAT
13 regular sessions
Component
Class Participation (individual)
Brand Audit Proposal (group)
Written Case Analysis individual)
Brand Audit Project Report (group)
Brand Audit Presentation (group)
Final Examination Case (individual)
Due Date
Ongoing
Week 5
Week 6
Week 13
Week 13
TBA
Weight
15%
10%
20%
25%
5%
25%
RSM 2513
Pricing
Ron N. Borkovsky
ron.borkovsky@rotman.utoronto.ca
TARGET AUDIENCE
This course is appropriate for anyone who expects to be involved in the determination, execution and
communication of a price. This includes students who plan careers in general management, marketing, sales,
strategy, and customer services. The course is not restricted to any particular industry, and is appropriate for both B2-B and B-2-C, and for both products and services applications.
COURSE MISSION
After taking this course, you will be able to:
1) Understand the importance of the demand curve and customer willingness-to-pay in pricing strategy, and
learn methods of estimating the demand curve.
2) Learn how to calculate profit-maximizing prices.
3) Calculate expected value to customers (EVC) and develop the concept of value based pricing.
4) Understand relevant costs in determining prices, and develop a cost-based framework for pricing.
5) Understand the effect of non-price factors on price image and perceived value.
6) Be sensitive to consumer behavior factors that play a large role in pricing effectiveness
7) Understand innovative pricing strategies like bundling and price customization.
COURSE SCOPE
Price setting is one of the most important marketing mix decisions. It involves an understanding of both supply side
factors (e.g. costs) and demand side factors (e.g. consumer willingness to pay). While traditional approaches to
pricing theory have revolved around an economic and financial framework, a broader and more pragmatic view
entails a comprehensive understanding of the demand side, both at the level of individual customer values, and
the more aggregate level of price sensitivities of the market. Using product categories as diverse as
hardware/software, healthcare, industrial products and consumer packaged goods, we will study economic and
behavioural approaches to pricing, value pricing, price customization, bundling, and retail pricing strategies,
amongst other topics.
REQUIRED RESOURCES
There is an electronic course packet that includes several cases and a few articles. Additional required readings will
be posted to R-World. (There is no required textbook for the course, but optional textbooks readings will be included
in the syllabus.)
COURSE FORMAT
13 weekly sessions
Component
Class Participation
Group assignments
Group case write-up
Final Exam
Due Date
Ongoing
TBD
Due week 11
Final Exam Period
Weight
20%
20%
20%
40%
RSM 2516
Deep Customer Insight: Qualitative Research Practicum
David Dunne
dunne@rotman.utoronto.ca
INSTRUCTOR BIO
David Dunne has an extensive global background as a marketing and advertising executive, professor and
consultant. He holds a Ph.D. in Marketing from Rotman and teaches courses in Marketing, Design and Advertising.
He teaches at Rotman, the University of Victoria and in graduate design schools in the Netherlands and Mexico. He
has published many articles on design and marketing and holds several teaching awards, including the National
3M Fellowship, Canadas highest award for university teaching.
TARGET AUDIENCE
This course is intended for students interested in design, innovation, entrepreneurship and marketing.
COURSE MISSION
1. To sharpen students powers of observation, perception, synthesis and interpretation.
2. To understand how qualitative methods can provide deep insight into customer experience, and identify new
innovation opportunities (e.g. product, service, experience design).
3. To plan, execute and analyze qualitative research for customer insight.
4. To apply best practices in observational research and interviewing.
COURSE SCOPE
What is the source of innovation? Fundamentally, its about finding something customers need. Trouble is, asking
them is unreliable: perhaps they take the status quo for granted, are unable to see the possibilities, or simply just
dont know what they want. By gaining a deep understanding of the personal experiences and behaviors around
the use of products and services, we can find hitherto undiscovered ways of improving or even disrupting them.
More and more organizations (e.g. corporations, start-ups, public-sector) are using qualitative ethnographic
methods, rooted in anthropology and sociology, to develop the kind of richer, empathetic understanding needed
for truly compelling innovations. In this course, you will learn the qualitative research methods and mindsets
practiced by innovative organizations such as P&G, IDEO, Intuit and Google. These methods are complementary
to, but different from, quantitative methods like surveys; the data here is narrative, phenomena and experience,
not numbers. Because interpreting this kind of information is a subjective exercise, special measures have to be
taken to ensure that the approach is rigorous. You will learn these methods and how this kind of research can be
used to complement other methods. You will put your learning into practice by designing and executing a
research study. The teaching method is very much about learning-by-doing: in-class exercises and discussions will
be designed to give you in-depth, practical exposure to the essential approaches and concepts.
REQUIRED RESOURCES
Mariampolski, H. (2006). Ethnography for Marketers: A Guide to Consumer Immersion. Sage Publications.
Course package
COURSE FORMAT
Intensive format offered over 10 days
RSM 2517
Innovation, Foresight and Business Design
Alexander Manu
alexander.manu@rotman.utoronto.ca
INSTRUCTOR BIO
Alexander Manu is a strategic innovation practitioner, international lecturer and author. He works with executive
teams in Fortune 500 companies in industries as diverse as consumer packaged goods, media, advertising, public
gaming, mobile communications and manufacturing. Alexander lectures around the world on innovation,
imagination, change agents and strategic foresight. He is a Senior Partner at InnoSpa International Partners,
teaches Innovation, Foresight and Business Design at the Rotman School of Management, is a Professor at the
OCAD University in Toronto and a visiting lecturer at the Wallace McCain Institute for Entrepreneurship. In his client
and research work, Alexander is involved in transforming organizations by exploring and defining new competitive
spaces, the development of new strategic business competencies and the reation of innovation methods. For over
25 years Alexander has enabled global companies as diverse as Motorola, LEGO, Whirlpool, Nokia, Navteq and
Unilever, to develop policies and strategies that address emerging issues through strategic foresight and precompetitive business models. Author of, Behaviour Space: Transformation, Pleasure and Business in the Millennial
Economy2012, Disruptive Business: Desire, Innovation and the Re-Design of Business, 2010., Everything 2.0:
Redesign your Business Through Foresight and Brand Innovation, 2008, The Imagination Challenge : Strategic
Foresight and Innovation for the Global Economy , 2006, ToolToys: Tools with an Element of Play, 1995, and The
Big Idea of Design, 1999 , as well as of numerous articles published in national and international periodicals. His
most recent book, Value Creation and the Internet of Things. How the Behaviour Economy will shape the 4th
Industrial Revolution will be released in July 2015 by Gower Publishing.
TARGET AUDIENCE
This course is of direct value to the student who has elected to major in Business Design, Consulting, Brand
Management or Innovation and Entrepreneurship. This course is also of value to students interested in design
strategy, marketing, new venture start-up, or innovation/product development and who wish to develop an ability
to imagine new possibilities and create high quality forward views.
COURSE MISSION
This course aims to prepare the MBA candidate for the ambiguous challenge of creating and supporting a culture
of innovativeness, within the framework of an innovation creating enterprise. In content, manner and style, this
course has been designed to focus on developing the candidates ability to inspire exploration, discovery and
learning within teams, as well as increasing the value of their own imagination and creativity. Students will work
with pre-design methods that will help them identify and validate ideas, and transform these ideas into precompetitive products, services and systems by using techniques designed to identify significant strategic shifts at
their early stages as well as tools to assess the potential of these strategic shifts in technology and behaviour as
potential markets before they can be measured. Finally, this course will explore how foresight informs strategic
decision-making and aligns the desires of people with the potential of technology, into new business models.
COURSE SCOPE
The primary goal of this course is to expand your decision-making data set by:
Enhancing your awareness of macro trends and global behaviour shifts, and discover the possibilities present at
the intersection between latent needs and current technology.
Building unique new perspectives
Transform shifts in behaviour and technology into feasible, useful and desirable business model concepts for
systems, communications, products and services.
Develop and execute methodologies leading to innovation outcomes that combine emerging technology
research and foresight methods.
The coursework is designed to: a) Help students to unlearn in order to see from new perspectives. b) Recognize and
assign meaning to local and global patterns of emergence in behaviour. c) Translate these behaviour signals into
future opportunities. d) Explore the experiential value of these opportunities e) Describe the support structures
required to deliver on these experiences f) Design business models that translate these experiences, into social and
corporate wealth.
REQUIRED RESOURCES
Course Package: The course uses a package of cases and readings.
HUME. D. 1888. A Treatise of Human Nature. Oxford, Clarendon Press. P.134
MANU, A. 2010. Disruptive Business. Desire, Innovation and the Re-design of Business. Gower Publishing. London.
ISBN: 978-0-566-09240-4
MANU, A. 2007. The Imagination Challenge: Strategic Foresight and Innovation in the Global Economy . Berkley:
New Riders.
MASLOW. A. H. 1943 A Theory of Human Motivation. Originally Published in Psychological Review, 50, 370-396.
SENGE, PM, SCHARMER, CO, JAWORSKI, J & FLOWERS, BS. (2004) Presence: human purpose and the field of the
future. Nicholas Brealey Publishing Ltd (June 2, 2005) . ISBN-10: 1857883551. ISBN-13: 978-1857883558
SMITH. ADAM. 1776. An Inquiry into the Nature and Causes of the Wealth of Nations. In public domain. (Gutenberg
Project)
COURSE FORMAT
12 or 13 regular sessions
Component
Due Date
Weight
Assignments
Weeks 3 and 5
2 x 15% (30% Total)
Process Reports
Weeks 7 and 9
2 x 20% (40% Total)
Final Project Presentation
Week 13
25 %
In Class and Online Participation
Weekly
05 %
RSM 2522
Marketing and Behavioural Economics
Kelli Peters
kelli.peters@rotman.utoronto.ca
TARGET AUDIENCE
This highly interdisciplinary course will be particularly relevant to students with interests in Marketing, Design,
Strategy, Behavioural Finance, Policy, and General Management.
COURSE MISSION
By the end of this course, you will:
1. Master the basic principles of behavioural economics
2. Know the application of the principles to various aspects of business and policy
3. Be able to design products and programs that are behaviourally informed.
COURSE SCOPE
The field of behavioural economics couples scientific research on the psychology of decision making with
economic theory to better understand what motivates economic agents, including consumers, investors,
employees, and managers. In this course, we will examine topics such as the role of emotions in decision-making,
irrational patterns of how people think about products, money, or investments, self-control, and how expectations
shape perceptions. Topics covered will include: Individual and group choice, choice complexity, intertemporal
choice, emotional influences on choice, the role of behavioural economics in marketing, spending and savings
behaviour, social welfare (e.g., health apps), decision engineering and choice architecture (e.g., in the field of
debt or tax collection).
REQUIRED RESOURCES
Readings for this course will be drawn from academic papers and web links that will be posted to the RWorld
portal.
COURSE FORMAT
12 weekly sessions
Component
Class participation
Mid-term exam
Group project and
individual write-up on
project
Due Date
Ongoing
week 7
week 12
Weight
20%
40%
40% (30% + 10%)
RSM 2524
Design Practicum
Heather Fraser
heather.fraser@rotman.utoronto.ca
In the Fall of 2015 the Rotman School will offer two similar, but not identical versions of RSM2524 Design
Practicum. Below, you will find a note indicating that, Students will work in multi-disciplinary teams (with industrial
designers from OCADU) and learn to synthesize discoveries and multi-disciplinary inputs in each stage of innovation
process. Due to the availability of OCAD students, industrial designers will only be part of the morning section. All
other content and activities will be the same in both sections. Note that the cap for the morning section will be 24,
and the afternoon section, 20.
TARGET AUDIENCE
Students interested in how to effectively leverage design-based principles and methodologies as a tool for
innovation and strategic business design. This includes students who might work in strategy, marketing, new venture
start-up, or innovation/product development.
COURSE MISSION
The objective of this course is to help students understand the theory and evidence on why business design is
important to enterprise growth and success, what frameworks and tools can be used to enhance and accelerate
the innovation and business design process, and how to apply these principles and tools to the creation of
innovative solutions, breakthrough strategies and viable new business models through team collaboration. Students
will be exposed to a wide range of success stories and a cross section of business design tools. Teams will have
the opportunity to practice those tools in a continuous process applied to their term project, and reflect on the
broader value of the principles and practices of business design. Students will work in multi-disciplinary teams (with
industrial designers from OCAD) and learn to synthesize discoveries and multi-disciplinary inputs in each stage of
innovation process.
COURSE SCOPE
During the course, teams will engage in a complete end-to-end business design process, including: a) Uncovering
emerging trends & patterns; b) Developing deep user understanding, uncovering new insights, and identifying
opportunities to meet unmet/unsatisfied needs; c) Developing new ideas and concepts based on an
understanding of those unmet needs; d) Translating concepts into prototypes; e) Developing and testing
prototypes; f) Developing a value creation system; g) Developing a strategic business model for the final business
concept. At the conclusion of the Business Design Practicum, teams will present their plans to Faculty, Sponsors and
industry representatives.
REQUIRED RESOURCES
Course Package: The course uses a package of cases and readings.
COURSE FORMAT
12 regular sessions. There will be a mix of lectures, field research, and group work. Students work on their projects
both in class workshops and in between the sessions.
Component
Foundation Report
User Insight Report
Concept Visualization Report
Business Strategy Report
Final Report/Presentation
Class Participation & Team Work (Individual)
Individual Papers (2 total)
Due Date
Class 3
Class 4
Class 8
Class 11
Class 12
Throughout
Throughout
Tentative Weight
5%
5%
5%
5%
20%
20%
40%

Area Coordinator: Joseph Milner (416.978.5552 joseph.milner@rotman.utoronto.ca)
RSM2405H
RSM2406H
RSM2407H
RSM2408H
RSM2415H
Supply Chain Management

Operations Management Strategy
Service Operations Management (offered in the 2015 Summer Term only)
The Art of Modeling with Spreadsheets
Predictive Analytics for Effective Business Decisions*
RSM 2405
Supply Chain Management
Philipp Afeche
Philipp.Afeche@Rotman.Utoronto.Ca
TARGET AUDIENCE
Course counts towards the Consulting and the Process and Supply Chain Management Majors.
The course is intended for students interested in general management or careers in consulting, operations, or
marketing. Understanding how supply chain management impacts business performance is also of value for
students aspiring to accounting and finance careers.
COURSE MISSION
Understand how to make supply chain design and policy decisions to develop the supply chain capabilities
required to support the business strategy and improve the performance of a firm and of an entire supply chain.
Learn how to examine and improve the flow of materials and information through a network of suppliers,
manufacturers, distributors, and retailers in order to help firms get the right product to the right customer in the
right amount and at the right time.
Learn how to make decisions on the following fundamental supply chain performance drivers: facilities,
inventories, transportation, information, sourcing and pricing.
Special emphasis is given to understanding of how supply chain decisions have to account for coordination
requirements within and across firms, the impact of uncertainty, and the specific product and customer
characteristics that derive from the overall business strategy.
COURSE SCOPE
Supply chains are networks of organizations that supply and transform materials, and distribute final products to
customers. This course views the supply chain from a general managers perspective. Supply chain management
represents a great challenge as well as a tremendous opportunity for most firms. If designed and managed
properly, supply chains are a crucial source of competitive advantage for both manufacturing and service
enterprises. There is a realization that no company can do any better than its supply chain. This becomes even
more important as product life cycles are shrinking, product and service variety is growing and competition is
intensifying. The course emphasizes the use of qualitative and quantitative analysis in making supply chain
management decisions.
REQUIRED RESOURCES
Supply Chain Management: Strategy, Planning, & Operation, Chopra & Meindl (C&M)
Course packet
Further materials (made available on portal before/after the relevant sessions): slides, case solutions, Excel
spreadsheets for C&M examples, sample final exam.
Supply chain simulation game
COURSE FORMAT
13 regular sessions, mix of lectures, case discussions, spreadsheet models and simulation game.
Component
Class Participation
Individual problem set, mini-case
Group report (cases)
Group presentation (simulation game)
Final Exam
Due Date
Ongoing
Weeks 5 and 10 or 12
Weeks 3, 6, 6
Week 13
Exam week
Weight
15%
10%
24%
16%
35%
RSM 2406
Operations Management Strategy
Joseph Milner
milner@rotman.utoronto.ca
TARGET AUDIENCE
The course is designed to be of interest to students considering positions in the transformative parts of firms. These
include leading roles production and manufacturing, in service design and fulfillment, and supply chain
management. Most of the topics require systematic thinking and many topics require some mathematical analysis.
COURSE MISSION
1. Enable students to formulate an operations strategy for a firm.
2.
Provide some concepts, tools and experiential input on how to analyze, value and optimize the key
decisions involved in an operations strategy. These decisions include benchmarking; capacity expansion,
timing, flexibility and location; sourcing and supply management; operational hedging; and innovation and
learning.
COURSE SCOPE
The course builds on the core operations class, focusing on the higher-level issues of strategic operations
management discussed in that course. Operations strategy consists of the development and use of operating
capabilities, whether they are in service provision, manufacturing, or supply chain fulfillment, to further the
competitive position of the firm.
We discuss trade-offs firms make in their operations and the underlying assets and processes they invest in to
support their decisions. We consider both external views of the organization to ascertain their competitive choices
and internal views to estimate their productivity and competitive threats. We study examples of asset sizing, type,
and flexibility. We also study how firms assess the buy vs. make decision in supply chains. Finally we consider
innovation and operations development.
Each topic will be discussed using a combination of models, case-discussions, and readings. The anticipated mix
for the course is 50-50 qualitative-quantitative. In a typical session we will cover one major case in-depth,
supplemented by mini-lectures, presentations and qualitative discussions of other examples.
REQUIRED RESOURCES
Course package consisting of cases and readings.
COURSE FORMAT
13 Week course, one 2-hour meeting each week.
Component
Due Date
Class Participation
Ongoing
Group case analyses
3 submissions
Final Exam Case
Take-home 1 - 2 weeks to complete
Weight
20%
40%
40%
RSM 2408
The Art of Modeling with Spreadsheets
Opher Baron
Opher.baron@rotman.utoronto.ca
Dmitry Krass
Krass@rotman.utoronto.ca
TARGET AUDIENCE
The course is intended for students interested in learning how to formulate models using spreadsheets to enhance
analytic decision making in applications such as finance, marketing, and operations.
I see this as all MBA students.
COURSE MISSION
1. To improve students ability in the science of fact based, data driven decision making;
2. To develop, integrate, and reinforce students modeling skills using spreadsheets through a variety of decisionmaking-oriented applications;
3. To enhance and reinforce students ability to intelligently use information in the presence of uncertainty.
COURSE SCOPE
In this course we will learn how to structure, analyze, and solve business decision problems using Excel spreadsheets.
We will focus on problems involving decision-making and risk analysis. The emphasis of the course will be on
systematic, logical thinking, and problem solving on spreadsheets, illustrated by building and analyzing models of a
variety of problems in finance, marketing, and operations. While the underlying concepts, models, and methods of
this course are mathematical in nature, we will develop them on the more intuitive and user-friendly platform of
spreadsheets. The spreadsheet approach to problem solving is more accessible to managers, as they often find
spreadsheets a natural medium for organizing information and performing what if analyses. We will study how to
use Excel and various add-ins to perform such analyses and interpret them.
REQUIRED RESOURCES
Practical Management Science, Fourth Edition by Winston and Albright, South-Western.
Additional readings are listed in the course outline and links are given to them on the R-World. You are expected to
read these before classes (and are invited to volunteer and present them to your classmates, as part of your
participation grade).
Course packet includes the following cases (may be updated):
Cases:
The Waldorf Property (Darden

Sprigg Lane (A) (Darden)
Research & Development at ICI Anthraquinone (Ivey)
Marsh and McLennan (A) (Harvard)
COURSE FORMAT
13 weekly sessions
Component
Due Date
Weight
Class Participation
Ongoing
15%
Individual cases
4 cases, one every 3 weeks or so
45%
Group report
4 cases, one every 3 weeks or so
40%
Most students will have an opportunity to present in class (from the reading list, individual, or group cases).
RSM 2415
Predictive Analytics for Effective Business Decisions
Dmitry Krass
krass@rotman.utoronto.ca
TARGET AUDIENCE
The course is designed for students interested in analytics and data-driven decision-making techniques. Analytics
(sometimes called data science) are increasingly important in a variety of industries and functional areas. In this
hands-on course students will be exposed to all aspects of predictive analytics, starting with data acquisition,
preparation and acquisition, proceeding to data modeling techniques, and then integrating these with decision
analysis to support effective decision-making. The course will expose student to SAS software one of the
workhorses of Predictive Analytics.
COURSE MISSION
3. Expose the students to the application of Predictive Analytics, Big Data and decision analysis techniques
to a variety of business decisions
4. Enable students to
a. Structure business decisions as analytical problems
b. Identify which data sources are needed to provide an answer
c. Structure the data for analysis
d. Apply appropriate analytical tools
e. Communicate the findings effectively
5. Expose students to integrative analytical approaches combining elements of data-based and decision
analysis techniques
COURSE SCOPE
The course will be organized around the main steps in a typical Predictive Analytics project:
From a business problem to a set of analytical questions. This involves an in-depth understanding of the
business issues at hand, translating these to a set of quantifiable questions and hypothesis, and identifying
the key elements of the analytical study to be conducted (unit of the analysis, data to be measured,
evaluation of results, implementation issues)
Acquisition, cleaning and transformation of data
Conducting preliminary exploratory analysis using descriptive tools, as well as data visualization and
dimensionality reduction techniques
Identifying and applying appropriate analytical models. Our main focus will be on Regression-type
techniques, including multiple regression (for cross-sectional, time-series and panel-type studies), logistic
regression, and related techniques. However, we will also be using big data tools such as clustering,
regression trees, and machine learning
Integrating data-based and decision analysis techniques. The former are based on the analysis of the
available data; the latter enable us to plan for future uncertainties in a systematic way. Effective analytics
for many managerial problems involve integrating both approaches.
Effective communication of analytical findings to business managers.
The class builds on skills acquired in first-year courses on Statistics, Data and Models. While the course will continue
some themes from MGT2408: The Art of Modeling with Spreadsheets, this is not a pre-requisite for the course all
analytical techniques employed will be introduced within the course.
Our focus throughout the course will be on the managerial applications of analytics, rather than on the tools
themselves. We will discuss applications of analytical techniques to business issues drawn from many functional
areas, including marketing, operations, strategy, etc. We will also be focusing on the real-life uses of analytics in
business. In the era of big (and growing) data, this usually means tools that go beyond EXCEL. Thus a combination
of Excel-based and SAS-based software tools will be used.
REQUIRED RESOURCES
SAS Enterprise Guide and SAS Enterprise Miner software
SAS Institute will provide software licenses as well as training resources
Palisade Decisions Suite for Excel (a set of Excel Add-Ons available to all Rotman students)
StatTools the statistics component used in 1-st year Statistics course
NeuralTools the machine learning component
@RISK the Monte-Carlo Simulation component
Course package, lecture notes, selected readings.

COURSE FORMAT
Weekly sessions consisting of lectures, guest speakers, and student presentations
Component
Class Participation
(including presentations)
Group case analyses/
projects
Final Exam
Due Date
Ongoing
Weight
20%
4 submissions
40%
End of the course
40%
Organizational Behaviour / Human Resources

Management
Area Coordinator: Glen Whyte (416.978.4369 whyte@rotman.utoronto.ca)
RSM2601H
RSM2603H
RSM2609H
RSM2612H
RSM2615H
RSM2618H
RSM2619H
RSM2620H
RSM2621H
Organization Design
Advanced Negotiations & Conflict Management (also offered in 2015 Summer Term)
Aligning People and Strategy (not offered in 2015-2016)
Managing Talent for Global Operations (offered in 2015 Summer Term only)
Leading Social Innovation
The Socially Intelligent Manager*
Power & Influence in Organizations
Leading Teams
Effective Leadership (offered only in 2015 Summer Term)
RSM 2601
Organization Design
Jim Fisher
jfisher@rotman.utoronto.ca
TARGET AUDIENCE
Students interested in learning how organizations work or why they so often work so badly.
COURSE MISSION
The purpose of this course is to make you aware of the way organizations are designedfamiliar with organization
design concepts and principles and able to see the limitations and constraints that the design puts on the
functioning of the organization. If you are aware of these things you will be able to be more effective in your own
work, more effective in dealing with other organizations as suppliers or customers, and ultimately more effective at
designing an organization for which you have responsibility.
Therefore my goals for the course are for you to:
1. Understand how organizations are put together;
2. Use your awareness of how organizations function to be more effective in your job;
3. Have the tools to organize a work unit for which you are responsible.
COURSE SCOPE
This course focuses on the role of organization design in the implementation of business strategies.
The flow of the course is from the challenges of a traditional organization facing current day pressures to those of
the newer organizations that could only exist in the information age. We will also contrast the challenges of leading
a smaller company with those of leading a large multi-divisional corporation. At the same time, we will move from
classical design principles to the more recent, but now well-proven ideas of the last few decades.
Because of my real-world bias, it is important that as you read the cases, you pay particular attention to the
business situation confronting the protagonists. Organizations exist to do something. In their simplest form, business
organizations exist to make a profitable sale. Pay attention to the financials. Pay attention to the challenges the
company is facing in its environment: demands of customers; competitive pressures; technological challenges and
opportunities. In every case discussion we will not move onto the organization design issues until we have a point of
view on the business challenges that are being confronted.
REQUIRED RESOURCES
Cases and articles to be purchased by students or made available on the course web portal.
COURSE FORMAT
Spring term
8 sessions of 3 hour classes.
Component
Class Participation
Personal Blog
Final assignment
Due Date
Ongoing
Last class
Exam week
Weight
20%
30%
50%
RSM 2603
Advanced Negotiations and Conflict Management
Chen-Bo Zhong
chenbo.zhong@rotman.utoronto.ca
TARGET AUDIENCE
The target audience for this course is any student interested in developing a sophisticated set of negotiation,
influence, and conflict management skills.
COURSE MISSION
A basic premise of the course is that while managers and leaders need analytical and technical skills to develop
optimal solutions to problems, a broad array of negotiation and conflict management skills is needed to implement
and gain acceptance for these solutions. Technical competence and expertise without the ability to win support
for preferred solutions is of little value in real organizational life. Thus, this course is designed to complement the
technical and diagnostic skills learned in other courses at Rotman, and to further augment the skills developed in
your core Negotiations class from first year.
Students will learn how to implement negotiation, mediation, and alternative dispute resolution methods to resolve
disputes in business and other organizations. We will also consider structural mechanisms by which organizations
can manage conflict. There are no perfect formulae for successful negotiations and conflict management, but by
understanding and analyzing negotiation and conflict situations systematically, especially with a sophisticated
appreciation of the social psychology of conflict, you will learn skills that help you to manage new situations and to
decide which strategies are most likely to be effective in different situations.
COURSE SCOPE
Successful completion of this course will equip students to understand, analyze, and practice powerful techniques
and strategies in negotiations and conflict management situations. Each class will include negotiation and
decision-making exercises, debriefing and lecture material. Most students will use the advanced skills and
knowledge gained in this course during daily workplace and personal interactions. This course begins with a
focused review of distributive and integrative negotiation skills, and goes on to consider more advanced topics like
the use of agents in negotiations, mediation, the psychology of influence, dispute resolution, and cross-cultural
negotiations.
REQUIRED RESOURCES
A course packet will be prepared for this course. It will include a collection of the very best, most focused articles
and chapters addressing issues of interest to the course. The professor will distribute supplementary handouts
throughout the course.
COURSE FORMAT
For summer and fall 2015, expect four meetings over two to three weeks, followed by a final exam.
Component
Due Date
Class Participation
Ongoing
Planning & role prep
Ongoing
Learning Journal
One during course
Students have choice
Final Exam
End of course
Weight
20%
10%
30%
40%
RSM 2615
Leading Social Innovation
Nouman Ashraf
nouman.ashraf@rotman.utoronto.ca
INSTRUCTOR BIO
Nouman Ashraf is Senior Research Fellow at the Rotman School of Management and he possesses a broad range
of professional, academic and research interests, with a specialized focus on enabling Integrative Thinking practice
within organization life. He is a thought leader in governance and leadership in the social economy and has taught
thousands of directors in the national Rotman program on Not for Profit Governance since its inception in 2007 in
partnership with the Institute for Corporate Directors. Nouman has also served as a consultant to important
organizations such as United Way Canada, the Canadian Diabetes Association, the Ontario Trillium Foundation, the
Region of Waterloo, the Association of Professional Engineers and Geo-scientists of Alberta, Bayer, Cliffs Natural
Resources, Moriyama + Teshima Architects and numerous post-secondary institutions. He has also won numerous
awards for his community engagement initiatives nationally. At lunch time, he can often be found at Massey
College where he is Senior Fellow.
TARGET AUDIENCE
This course will be of interest to second year students who are interested in applying and integrating insights from
various disciplines such as finance, strategy, organizational behavior and leadership to the social economy. The
most successful participants will be those curious about understanding emergent models of leadership, impact
measurement, stakeholder engagement and systems-wide change. Previous experience in the not-for-profit and
public sectors is not all necessary; however, a passion for integrating across traditional silos to solve wicked
problems a key asset. The course features speakers from the C-Suite of some of the most important and impactful
players within the sector
The social economy represents a formidable segment within society, both in terms of financial capital ($112 Billion
under management) and the social benefit that it contributes to society through effective management. Hence,
the articulation of a consistent vision, management of organizational reputation, attraction and retention of diverse
membership and ongoing professional development become critical factors of success.
Most MBA students will interact with this sector as consultants, volunteers, donors, beneficiaries or as leaders of its
myriad facets. This course will explore conventional approaches and new emergent models that tackle wicked
problems, and more importantly apply the rigour of management theory and practice to them. This course is
intended to broaden participants knowledge of and ability to impact this sector thorough actively engaging with
the most recent theories and frameworks, coupled with guest speakers who bring the contemporary perspective
on innovations within the sector.
REQUIRED RESOURCES
Social Entrepreneurship: An Evidence-Based Approach to Creating Social Value. Guo, C., Bielefeld, W. Jossey-Bass
2014 (ISBN 978-1-118-35648-7)
The Practitioners Guide to Governance as Leadership: Building High Performance Nonprofit Boards. Chait, R, Ryan,
W. and Taylor, B. W. Jossey-Bass 2012 (ISBN 978-1118109878)

Component
Class Participation
Midterm Assignment
Final Paper
Due Date
Ongoing
TBC
Last day of class
TBC
Weight
15 %
25 %
20 %
40 %
RSM 2618
The Socially Intelligent Manager
Stphane Ct
scote@rotman.utoronto.ca
INSTRUCTOR BIO
Stphane Ct is Professor of Organizational Behaviour at Rotman. He earned his PhD in psychology at the
University of Michigan, and joined Rotman in 2001. He teaches social intelligence in Rotmans MBA and executive
programs, as well as in various companies. His research examines how people leverage social intelligence to
enhance their performance, and how social class relates to prosocial behavior. He has written about his research in
the New York Times as well as in academic journals. He won the Deans award for excellence in teaching in 2012,
and the Deans award for excellence in research in 2006. In his spare time, he DJs (focusing on deep house music
and insisting on spinning vinyl records rather than playing mp3s) and/or chases his 2-year old twins around the
house.
TARGET AUDIENCE
Students interested in accelerating their careers by better understanding the role of social skills at work, receiving
feedback on their social skills, improving their social skills, and learning how to improve the social skills of the people
they work with and manage.
COURSE MISSION
Students will gain knowledge of what comprises social intelligence and how these skills affect their own professional
activities. Students will appreciate the importance of social intelligence to their own leadership and decision
making, and in such diverse organizational experiences as negotiations, decision making, customer service, and
marketing. Students will develop their own social skills and learn how to develop the social skills of other people.
COURSE SCOPE
This course provides students with models, skills, and tools needed identify the role of social intelligencethe ability
to navigate complex social relationship and environmentsin organizational life. First, we learn about models of
social intelligence. Then, we apply this knowledge and develop our social skills through a series of experiential
exercises, assessments, lectures, case studies, and examples. In addition, guest speakers will describe how social
skills are assessed and enhanced in various large organizations, including Google. The course will cover topics such
as:
How good are we at knowing how others are feeling, and if others are lying?
How well do we understand the impressions that we make on others?
What are the most effective strategies to manage ones own emotions?
How do emotions change risk perception, creativity, and decision-making?
How do we boost positive emotions to make work more enjoyable and more productive?
REQUIRED RESOURCES
The instructor will provide a reading package consisting of selected academic and business articles.
COURSE FORMAT
Nine 2-hour weekly sessions, plus one 6-hour Saturday session
Component
Class Participation
Reflection paper
Case comparison
Due Date
Ongoing
week 5
week 10
Weight
20%
30%
50%
RSM 2619
Power and Influence in Organizations
Tiziana Casciaro
Tiziana.Casciaro@Rotman.Utoronto.ca
TARGET AUDIENCE
This is a course about learning to use power and influence as effective tools for understanding your surroundings
and achieving your goals. It is a course about getting things done in the real world, where politics and personalities
often seem to hinder rather than help you. P&I is a course for those of you who want to make things happen,
despite the obstacles that might stand in your way. It is also a course to prepare you to use power responsibly, resist
its corruptive perils, and wield it to make the world a better place.
COURSE MISSION
This course presents conceptual models, tactical approaches, and self-assessment tools to help you develop your
own influence style and understand political dynamics as they unfold around you. By focusing on specific
expressions of power and influence, this course gives you the opportunity to observe the effectiveand
ineffectiveuses of power in different organizational contexts and stages of a persons career. The subject matter
will challenge you to define for yourself what will constitute the ethical exercise of power and influence in your life.
COURSE SCOPE
The course relies on a mix of traditional case studies, biographical case studies, exercises, films, articles, frameworks,
and self-assessment tools to help you evaluate your own bases of power and your own influence style. The
exposure to the development and use of power in many different social sectors and in various points in history
allows a comprehensive analysis of power in action. The course are will help you:
1. Develop a conceptual framework for understanding power and influence. You should be able to define
power and influence and begin to appreciate how essential they are for your own career and to produce
constructive outcomes for your organization.
2. Practice diagnostic skills that will enable you to map out the political landscape, understand others
perspectives and power bases, and learn to predict and influence their actions.
3. Assess your own power bases and influence style and consider strategies for expanding them.
4. Begin to build a repertoire of influence tactics so you will be effective in a variety of situations.
5. Develop your own strategy for building and exercising power and influence responsibly.
REQUIRED RESOURCES
Cases and articles to be purchased by students or made available on the course web portal.
COURSE FORMAT
9 weekly three-hour sessions
Component
Due Date
Weight
Class Participation
Ongoing
20%
Mid-term analysis
Week 5
10%
Final Paper
Two Weeks After Final Class
70%
RSM 2620
Leading Teams
Geoffrey Leonardelli
Geoffrey.leonardelli@rotman.utoronto.ca
TARGET AUDIENCE
This course is intended for students interested in developing a sophisticated skill set in leading teams.
COURSE MISSION
Managers have greatly expanded their use of teams to accomplish a wide variety of organizational objectives.
Teams have emerged as a favorite work arrangement and can be found at every level of the organization, from
production crews on the shop floor to top management teams in the executive suite. Moreover, virtual team
dynamics have created many new opportunities and challenges for leaders of such teams. Teams are not a
panacea, however. Even as they become a way of life in many organizations, widespread myths and
misconceptions about teams often stand in the way of effective teamwork. The objectives of this course are 1) to
sharpen your understanding of the conditions that foster team effectiveness and the disruptive forces that can
derail teams; 2) to develop your ability to diagnose complex team dynamics and take action to improve team
functioning; and 3) to build the combination of analytic and interpersonal skills you need to effectively design and
lead teams.
COURSE SCOPE
The course is divided into four modules, on team design, team function, bridging differences in teams, and team
leadership. The first will focus on how leaders can influence aspects of a teams context and structure critical to
team effectiveness, such as the appropriateness of the teams members, the type of direction provided to the
team, the kind and level of support provided to the team (information technology, incentives, etc.). The second
module is to develop a working understanding of the conditions that maximize a teams chances of success, in
ways that include production, decision-making, and creativity. Once you have designed and deployed a team, it
is critical to periodically assess team members work processes to overcome any obstacles to effective
collaboration. The third module provides guidelines for diagnosing determining what strategies are available to
improve these dynamics. Finally, the course will integrate the previous modules under a single rubric, team
leadership, and discuss unique challenges leaders of tomorrows teams might face as they confront the challenges
of geographically dispersed teams interacting primarily through electronic media, and differing in language and
cultural values.
REQUIRED RESOURCES
A course packet will be prepared for this course. It will include a collection of the very best, most focused articles
and chapters addressing issues of interest to the course. The professor will distribute supplementary materials
throughout the course.
COURSE FORMAT
Spring Term 2016 (beginning Jan). Anticipated 3 hours/week for 9 straight weeks.
Component
Due Date
Class Participation
Ongoing
Group Consulting Project
Week 9
Individual Assignment
Week 10
Weight
20%
40%
40%
Area Coordinator: Joshua Gans (416-978-3243) joshua.gans@rotman.utoronto.ca)
RSM2010H
RSM2011H
RSM2012H
RSM2015H
RSM2016H
RSM2017H
RSM2018H
RSM2019H
RSM2020H
RSM2021H
RSM2023H
RSM2027H
RSM2030H
RSM2052H
RSM2054H
RSM2056H
RSM2057H
RSM2058H
RSM2059H
RSM2060H
RSM2061H
RSM2062H
RSM2063H
RSM2080H
RSM2081H
RSM2083H
RSM2084H
RSM2087H
RSM2098H
RSM2099H
RSM20XXH
RSM20XXH
Business Government Relations

International Business
Entrepreneurship
Advanced Strategic Analysis* (not offered in 2015-2016)
Causal Modelling for Integrative Business Strategies*
Pharmaceutical Strategy
Business Strategy by Firms Based in Emerging Market Economies
Corporation 360 (Tentative for 2015-2016)
Health Sector Strategy & Organizations
Corporate Strategy
Strategic Change and Implementation
Not For Profit Consulting (not offered in 2015-2016)
Canadian Business History in a Global Context
Management Consulting (offered only in 2015 Summer Term)
Technology Strategy
Game Theory and Competitive Strategy
Venture Capital (not offered in 2015-2016)
Case Analysis and Presentation
Health Care Consulting
Network & Digital Market Strategy
Leveraging Strategic Networks
Management Consulting Practicum
Catastrophic Failure in Organizations*
Business Sustainability Strategy*
Entrepreneurship for Social Ventures*
Managing Innovation (not offered in 2015-2016)
Healthcare Transformation (not offered in 2015-2016)
Corporate Citizenship Strategy (not offered in 2015-2016)
Creative Destruction Lab Course - Entrepreneurship*
Creative Destruction Lab Course - Strategy*
Medical Devices Strategy* (not offered in 2015-2016)
Strategy and Competitive Advantage* not offered in 2015-2016)
*Experimental Course
RSM 2010
Business Government Relations
George Fleischmann
gfleischmann@rogers.com
TARGET AUDIENCE
Students interested in understanding how government action impacts business across a wide spectrum of the
economy.
COURSE MISSION
To help students appreciate how to interact and dialogue with officials and politicians when dealing with
government policies, programs, and/or regulations which impact businesses/companies that they may be
representing. To provide students with an understanding of government structure and policy development, how it
differs between Canada and other countries, and what the impact on business is in each of these countries.
COURSE SCOPE
This course will initially provide a basic understanding of the operation of the Canadian federal government. A
comparison between the Canadian, U.S. and U.K. government systems, and their impact on business/ government
interaction in each country will also be offered. The spectrum of government policies and instruments affecting
business and company operations will also be reviewed.
The business/government interface will be explored in several sectors including finance, health care and retail.
Senior executives from these and other business sectors will review the impact of government on their operations,
and will provide specific illustrations based on their experience.
REQUIRED RESOURCES
All required materials are included in a case packet. Selected contents:
a) Business Government Relations George Fleischmann
b) Nonmarket Strategy Daniel F. Spulber
c) Apotex Case Study Paul Seaborn
d) The Business Trade Association Dilemma in Canada George Fleischmann
COURSE FORMAT
13 regular two-hour sessions (fall semester) or 8 three-hour sessions (summer intensive). Approximately half of the
class time is devoted to lecture and discussion and the other half to presentations of business/government issues by
senior executives from various business sectors, along with one session of student group presentations.
Past guest speakers:
Kevin Lynch, Vice Chair, Bank of Montreal and former Clerk of the Privy Council
Konrad von Finckenstein, CRTC Chairman
Stan Hartt, Chairman, Macquarie Capital Markets
Louise Wendling, CEO of Costco Canada
Michelle DiEmanuele, President & CEO, Credit Valley Hospital
Claude Lamoureux, Past President, Ontario Teachers Pension Plan
Marilyn Knox, President, Nestle Nutrition
EVALUATION AND GRADE DISTRIBUTION (Fall Semester)
Component
Class Participation
Group Presentation
Case Reports/Reaction Papers (2)
Final Exam
Weight
10%
20%
30%
40%
RSM 2011
International Business
Joanne Oxley
joanne.oxley@rotman.utoronto.ca
TARGET AUDIENCE
We are told that globalization is changing the face of competition in many industries, but what does this really
mean for managers as they formulate and implement strategy? How can we effectively analyze the competitive
structure of global industries and translate that analysis into winning strategies? This course is designed to immerse
you in the challenges faced by managers venturing into overseas markets in response to (or in anticipation of)
increased global competition.
COURSE MISSION
Through a combination of case discussion, readings, lectures and role play simulations you will develop your ability
to pursue managerial action that is responsive to the evolving global business environment, and to the oftenconflicting demands of multiple stakeholders such as local and overseas employees, customers, joint venture
partners, governments, and non-governmental organizations.
COURSE SCOPE
The course is organized around several themes: First, we look at the newly-internationalizing firm, identifying the
circumstances in which venturing overseas makes sense, and when it may not be a wise strategy. Next we explore
the essential strategic and organizational challenges encountered by international managers; for example, how to
build competitive advantage in international markets, how to balance the benefits of global integration against
the need to respond to local differences, and how to promote innovation in a global network. We also confront the
recent trend towards international collaboration and outsourcing, and examine both the potential and limits of
these strategies for international firms. Finally, we examine how international differences in social and legal
conditions affect strategic choices, and how non-market strategy can be used to strengthen performance in
global markets.
In place of a final exam, the course concludes with an extended case analysis and negotiation simulation exercise.
This exercise involves the renegotiation of an actual international joint venture agreement. The aim of this exercise is
for students to analyze how a particular international joint venture fits into the partner firms evolving global
strategies, to determine what this means for the desired scope and structure of the joint venture, and then to play
this analysis out in a live negotiation setting.
REQUIRED RESOURCES
All required materials are included in a case packet or in electronic form on R-World.
COURSE FORMAT
12 regular sessions, with an extended 13th session dedicated to the final case discussion and negotiation simulation
exercise. Heavy emphasis is placed on weekly preparation and participation in class discussion. Good participation
grades reward students who demonstrate mastery of the concepts, integration of readings and cases, and an
ability to build on the comments and contributions of others.
In regards to the case analyses: at the beginning of the semester students form groups of 4-5 members each to
prepare all case assignments. Responsibility for writing the case analyses will be rotated among the members; the
individual who prepares the written case analysis receives the grade for that assignment. Each group member
prepares 1 written case analysis during the semester, in addition to the individual case analysis associated with the
final project.
Each group also makes one in-class case presentation during Session #8 or Session #12
Component
Class Prep. & Participation
Written Case Analysis
In-class presentation
Final Case Analysis,
Negotiation Simulation
and Reports
Due Date
Ongoing
Various
Various
End of course
Weight
20%
20%
20%
40%
RSM 2012
Entrepreneurship
Becky Reuber
reuber@rotman.utoronto.ca
TARGET AUDIENCE
This course will be of interest to students who are engaged in a venture start-up, would like to start a venture, or
would like to work with early-stage ventures. This course is part of the Innovation & Entrepreneurship major, as well
as the Health Sector Management and Real Estate majors.
COURSE MISSION
The objectives of the course are to sharpen your ability to:
1. Determine if you could (or should) become involved in a business start-up;
2. Recognize and analyze new venture opportunities from the viewpoints of the entrepreneur and potential
stakeholders;
3. Anticipate problems faced by new ventures so they can be managed effectively;
4. Prepare a cohesive, concise and persuasive business proposal for a new venture.
COURSE SCOPE
Entrepreneurs and their firms are celebrated by the media and their communities. But what does it take to start a
business? This course will allow you to be an entrepreneur for a term. The major emphasis in the course is a real
world hands-on approach to learning what its like to start a company. You will pitch a venture concept, research
the market for your product or service, prepare marketing and launch plans, develop financial projections, and
prepare a business plan. Youll formulate key hypotheses related to the uncertainty of the venture and test them
by interacting with potential customers, suppliers, partners and competitors.
This is a highly experiential course where you will be able to apply and integrate your entire business education and
experience to a practical project. Using a mixture of readings, exercises, cases and speakers, a broad spectrum of
issues are introduced, covering the entrepreneurial process from opportunity recognition, to startup, growth and
harvesting. You need to be able to interact with the business community and potential customers, work effectively
in teams, and participate actively in class discussions and exercises.
REQUIRED RESOURCES
A highly recommended book for this course is The Lean Startup, by Eric Ries (Crown Business, 2011, ISBN 978-0-30788789-4). I will post links to most of the material, either through the internet or through the university library, and will
provide a coursepack containing the cases that you need to purchase.
COURSE FORMAT
12 regular sessions
EVALUATION AND GRADE DISTRIBUTION (may change slightly)
Component
Weight
Concept Pitch one minute pitch of best concept
15%
Concept Analysis written analysis of best concept
15%
Business Plan deliverable includes weekly posting in
35%
team blog, slide deck of business plan, business plan
presentation
Class preparation answer to weekly Survey Monkey
15%
question submitted before class
In-class contribution
20%
Team/Individual
Individual
Individual
Team
Due Date
Week 4 or 5
Week 4 or 5
Last class
Individual
Ongoing
Individual
Ongoing
RSM 2016
Causal Modeling for Integrative Business Strategies
Mike Ryall
mike.ryall@rotman.utoronto.ca
COURSE GOALS
1. Learn causal modeling methodology
2. Develop skill in the practical use of this approach in both qualitative and quantitative contexts
3. Integrate and apply disciplinary content (i.e., Finance, Strategy, etc.) to real world problems
Rotman is recognized as a leading center in Integrative Thinking education. A tangible selling point of this
education, from the perspective of recruiters, is that our MBAs graduate with a superior ability to use models to
solve real-world problems. This course is designed to nurture and extend students real-world modeling abilities. In
management, understanding and exploiting causal structure is often the key to successful decisions.
For example, the modern marketing manager must choose among a host of possible interventions traditional
advertising, promotions, new media, social networking, the sales force, distribution channels, etc. under
conditions of limited resource availability. Which interventions should be undertaken for maximal effect? A little of
everything? A lot of a few things? The answer lies in the links between the available interventions and their effects
on: sales, costs, competitors, suppliers, each other and so on. Here, the relationship between action and
consequence is a central concern. RSM2016 is about framing, analyzing and resolving issues of this kind.
The course will cover both qualitative and quantitative causal modeling. Qualitative models are useful for such
applications as back-of-the-envelope analysis, organizing ones thinking about a complex issue at the start of a
substantive analysis, or responding to case questions in an interview setting. Quantitative models are useful when
precise answers are required for example, building financial statements for an entrepreneurial business plan or
exploring what-if scenarios for a corporate strategic plan or consulting engagement. Quantitative causal models
are first developed for single decision maker analysis, then extended to analyze interactive decisions (game
theory).
Students should be forewarned that, although only a basic understanding of probability and statistics is assumed,
the course is heavy on quantitative analysis.
REQUIRED READINGS
I will post copies of my lecture notes prior to each class. These notes will serve as the class textbook. Other relevant
material, such as readings and problem sets, will also be posted as appropriate.
EVALUATION AND GRADES
Grades are a measure of the performance of a student in individual courses. Each student shall be judged on the
basis of how well he or she has command of the course materials. The assignment weights are:
In-Class Labs
Quizzes
Midterm
Final Exam
10%
20%
30%
40%
Homework problems and sample exams will be provided for you to work outside of class to practice the
techniques. These will not be collected or graded.
Topics
1
Introduction
Qualitative Causal Analysis
Analyzing the Consulting Case
Quantitative Causal Analysis
Evidence-Based Inference
Single Agent Influence Diagram
Multi-Agent Influence Diagram
Causal Structure From Data
CAPM Revisited/Wrap-up
RSM 2017
Pharmaceutical Strategy
Will Mitchell
william.mitchell@rotman.utoronto.ca
INSTRUCTOR BIO
Will Mitchell is the Anthony S. Fell Professor of New Technologies and Commercialization at U of T, and a professor of
strategic management at Rotman. Will is a faculty associate of Rotmans Centre for Health Sector Strategy. He is a
board member of Neuland Laboratories, Ltd., based in Hyderabad. Will studies business dynamics in developed
and emerging markets, investigating how businesses change as their competitive environments change and, in
turn, how the business changes contribute to ongoing corporate and social success or failure. He teaches courses
in business dynamics, emerging market strategy, entrepreneurship, and health sector management in business
programmes in North America, Asia, Europe, Africa, and elsewhere.
TARGET AUDIENCE
The course is relevant for students who plan to work for pharmaceutical companies or at other points along the
healthcare value chain in Canada or elsewhere, including healthcare suppliers, academic partners, distributors,
providers, policy makers, and/or consultants.
COURSE MISSION
The course will provide institutional background about global pharmaceutical firms and the pharmaceutical value
chain, as well as current strategic and policy challenges and opportunities that people face along the
pharmaceutical global value chain. We concentrate on factors that are critically important for pharmaceutical
firms and other stakeholders, including research intensity, extensive and complex marketing investments, close ties
to the health care system, and the critical role of government regulations and policy. During the course, we will
consider the perspective of established firms as well as new entrants and potential entrants to the industry.
We take a strategic perspective on the industry, focusing on critical decisions that managers and other actors must
take as they carry out their day to day jobs, seeking to gain both short term performance and long term
competitive advantages. The course begins with an introduction to pharmaceutical pipelines. We next examine
key aspects of the pharmaceutical commercialization process, including pricing, reimbursement, promotion,
differences among market segments, and competition between generics and proprietary products. We conclude
by considering the management of inter-firm relationships such as pharmaceutical alliances and acquisitions.
Throughout the course, we will consider the industry's strategic responses to recent developments including the
growth of managed care, global competitiveness, proposed regulatory reform policies, and increasing
government cost containment policies in Canada and abroad.
COURSE SCOPE
We will cover companies and other institutions along the pharmaceutical value chain in the developed markets of
Canada, elsewhere in North America, Europe, and Japan, as well as companies and strategies of pharmaceutical
firms based in emerging markets of Asia, the Middle East, Latin America, and elsewhere in the world.
REQUIRED RESOURCES
I will provide a course pack consisting of cases about pharmaceutical firms and issues, as well as a set of
supplemental readings about how to adapt and transform the general concepts of strategy to these settings. The
course resources will also include substantial data about pharmaceutical companies and markets.
COURSE FORMAT
Extended evening and weekend sessions.
Component
Class Participation
Learning Journal
Term paper (group or individual)
Due Date
Ongoing
Ongoing
Due at end of term
Weight
20%
40%
40%
RSM 2018
Business Strategy by Firms Based in Emerging Market Economies
Will Mitchell
william.mitchell@rotman.utoronto.ca
INSTRUCTOR BIO
Will Mitchell is the Anthony S. Fell Professor of New Technologies and Commercialization at U of T, and a professor of
strategic management at Rotman. Will is a faculty associate of Rotmans Centre for Health Sector Strategy. He is a
board member of Neuland Laboratories, Ltd., based in Hyderabad. Will studies business dynamics in developed
and emerging markets, investigating how businesses change as their competitive environments change and, in
turn, how the business changes contribute to ongoing corporate and social success or failure. He teaches courses
in business dynamics, emerging market strategy, entrepreneurship, and health sector management in business
programmes in North America, Asia, Europe, Africa, and elsewhere.
TARGET AUDIENCE
The course is relevant for students who plan to work for or compete with businesses that operate in emerging
markets, as well as for students who plan to work as consultants in emerging market contexts. We will examine
businesses from the perspective of firms based in emerging markets. In turn, the concepts in the course will be
relevant for students who manage such businesses as they build on their home bases to expand around the world,
as well as for students who will manage businesses that compete with emerging market firms, whether in Canada or
other home markets or in global markets. The core point, from whichever perspective, is to understand the dynamic
nature of competitive strategy in contemporary emerging markets.
COURSE MISSION
The course focuses on strategies that firms based in emerging market economies around the world are adopting in
order to compete in their home markets and, increasingly, in regional and global markets beyond their boundaries.
By emerging market economies, I mean countries that have established a moderate degree of market-based
commercial infrastructure such as labour markets, legal transparency, capital markets, external supply chains, and
physical infrastructure. These markets ranging from the BRIC countries of Brazil, Russia, India, and China, to myriad
countries in Africa, Latin America, Asia, and the Middle East are now the most dynamic economies in the world.
Quite simply, this is where the growth is.
Firms based in these countries are adopting strategies that partly reflect what we have come to think of as
traditional business strategy, but also incorporate important elements of strategy that arise from the distinct
conditions of the emerging market context in general and of their home countries in particular. The course explores
similarities and key differences of business strategy in these emerging market environments.
COURSE SCOPE
We will explore multiple factors that create differences in both kind and intensity of strategies in emerging markets.
Four dominant issues arise at the centre of the factors: Dynamic competitive advantage, complex management of
resources, inherent uncertainty, and political strategy. In turn, these issues lead to a range of questions involving
value chain positioning, supply chains and human resources, cost structure pressures, business model innovation,
and other dimensions of strategy. We will explore how firms based in emerging markets around the world have
developed strategies to deal with these issues, sometimes successfully, other times struggling to compete
effectively at home and abroad.
In order to capture the pragmatic, action-oriented nature of strategic management, I teach this course through
the case method, supplemented with readings, lectures, and discussions. Our objective is for you to develop your
personal synthesis and approaches for identifying and solving the key problems that you face as business
managers.
REQUIRED RESOURCES
I will provide a course pack consisting of cases about firms based in emerging markets throughout the world, as well
as a set of supplemental readings about how to adapt and transform the general concepts of strategy to these
settings. In addition, I will provide data to help compare and contrast the institutional and strategic development of
the market environment in different countries.
COURSE FORMAT
Extended evening and weekend sessions.

Component
Class Participation
Learning Journal
Term paper (group or individual)
Due Date
Ongoing
Ongoing
Due at end of term
Weight
20%
20%
40%
RSM 2019
Corporation 360
Sarah Kaplan
sarah.kaplan@rotman.utoronto.ca
THIS FACT SHEET IS TENTATIVE
TARGET AUDIENCE
Students with the following interests should take this course:
Consulting
Strategic and general management
Business-government relations
This course qualifies for:
One of the four required courses to major in Consulting
One of the four required to specialize in Strategic Management.
It is part of the suite of courses offered under the Integrative Thinking rubric.
This course will be taught in the Fall 2014 as a full-semester course (once per week) and in the Winter Intensive as a
2-week course (4 days each week). (Note that the WIT version is not appropriate for students with other work or
school-related requirements that would prohibit them from adequately preparing for the 8 intensive sessions. We
will do all of the work of a semester course across two weeks, which will by definition be extremely intensive.)
COURSE MISSION
Corporation 360 is a chance to analyze one firm from many perspectives (360 degrees). In business school, we
tend to look at corporations in one facet or another by studying strategy, operations, marketing, organizational
behavior, or finance. What new insights emerge when we examine one company from multiple perspectives?
What can we learn through the intersections of the insights that come from each business discipline? And, further,
what insights develop when we compare the corporation as an engine for creating and capturing private value
(and thus providing returns to the shareholder) to that of the corporation as embedded in society and therefore
affecting value creation (or destruction) at the public level. This intensive course takes one company and studies its
many facets with the goal of developing an integrated understanding of both private and public value creation.
For Fall 2014 and WIT 2015, we will use Walmart as our case study.
Warning! This is an advanced course aimed at students who want to move beyond tightly structured problems and
explore the fluid and complex aspects of real-world decision-making. It will be taught using the case method which
means the quality of the course will be highly dependent on the quality of the preparation of each student. There
will be very limited lecturing as most of the issues and answers will be uncovered through discussions and debates
structured and guided by the professor. Do not take this class if you plan on sitting back, relaxing and enjoying the
ride.
COURSE SCOPE
This course will examine the case of one corporation from multiple perspectives. We will review many of the
subjects covered in your core coursework, showing how we can mobilize the concepts and tools you have learned
during the MBA to evaluate how a company creates and captures value for its shareholders. We will discuss the
tensions that arise for the manager when attempting to manage across these different functional requirements. In
doing so, we will always consider the corporation in society, studying the impact of its choices about labor
management, globalization, location, sourcing and other issues on social welfare. At the end of the course, we will
take the perspective of the leaders of the corporation and seek to understand how they can make important
strategic choices for their company in the face of the many challenges and obligations we uncover in the course.
Course sessions include: strategy, suppliers and supply chain, human resources, marketing and consumers,
globalization (including legal and ethical implications), store operations, impact on communities, sustainability,
charity as a part of strategy, future growth.
The sessions will involve a combination of guest lectures, discussions of the readings, videos, role playing and
debates about important topics. Students will be expected to be actively engaged in debating the issues.
REQUIRED RESOURCES
The course will draw on a wide variety of written, web-based and video resources. The reading list and preparation
requirements for this course are heavy.
COURSE FORMAT
Offered during the 2016 Winter Intensive term.
EVALUATION AND GRADE DISTRIBUTION (This format may be subject to change)
Component
Due Date
Class participation
Ongoing
Mini-assignments after
Selected days
selected classes
Financial analysis
TBD
Individual field study
TBD
write-up
Take home final exam
End of course
Weight
20%
20%
10%
20%
30%
RSM 2020
Health Sector Strategy and Organizations
Brian Golden
brian.golden@rotman.utoronto.ca
Note: Due to the intensive, compressed nature of the Healthcare Change Simulation, classes will meet once a week
for 8 or 9 two-hour sessions. In addition, the simulation will be conducted on a Saturday (one of the days will be
selected depending on student availability) during the semester. Students unable to attend the Saturday session
will be accommodated (with alternative times).
FACULTY BIO:
Professor Brian Golden is the Vice-Dean of Professional Programs; the Sandra Rotman Chaired Professor in Health
Sector Strategy at the Rotman School of Management, The University of Toronto, and The University Health Network.
He is the Executive Director for the Rotman Schools Centre for Health Sector Strategy. In 2006 he became
founding Executive Director of The Collaborative for Health Sector Strategy, a policy, research and leadership
development institute funded by the Ontario Ministry of Health. In his role at the Collaborative he was a member of
the select advisory committee that led to the creation of Ontarios Excellent Care for All legislation. He coauthored the provinces report on Primary Care Governance, and currently sits on the Ministry of Heaths Hospital
Funding Formula committee, as well the Ministrys Expert Advisory Committee on Strengthening Primary Health Care
in Ontario
From 2005 to 2010 Professor Golden was Board Chair of the Institute for Clinical Evaluative Sciences (ICES). He is
currently Chair of Rise Asset Development, a non-profit micro-finance organization providing business development
loans for individuals with mental health and addiction challenges.
Among his published work are articles in The Canadian Medical Association Journal, The Strategic Management
Journal, Healthcare Quarterly, Healthcare Papers, The Annals of Pharmacotherapy, Management Science, Clinical
Oncology, Health Policy and The Harvard Business Review. Professor Goldens article Transforming Healthcare
Organizations in Healthcare Quarterly was that publications most downloaded article with over 130,000
downloads.
As an advisor and director of leadership development programs, Professor Golden has worked with a variety of
organizations including Ontarios Ministry of Health, Britains National Health Service, several Local Integration
Health Networks, and hospitals including The Hospital for Sick Children, The University Health Network, Hamilton
Health Sciences, London Health Science Centre, Sunnybrook College Health Sciences Centre, The Centre for
Addiction and Mental Health, The King Faisal Specialist Hospital, and Baylor Medical Center. His recent private
sector executive education clients include Janssen-Ortho, Manulife, General Electric and Baxter International.
Among his teaching and education awards are Canadas Ted Freedman Innovation in Healthcare Education
Award and the Canadian Medical Associations first Eureka Award for Innovation in Physician Education.
TARGET AUDIENCE
This course is open to all 2 nd and 3rd year Rotman Students and is a required core course in the Rotman School of
Managements major in Health Sector Management. This course aims to improve your ability to formulate and
implement strategy in the healthcare delivery sector. The course will help prepare students for leadership roles in
healthcare management, the life sciences, insurance, government, entrepreneurship, venture capital, and health
sector consulting,
Numerous guest speakers will participate in the course. They will be selected from a group of hospitals CEOs,
physician leaders, health care consultants, health care managers and senior government officials.
Invited Industry Leaders for Fall 2015 are:

-
Dr. Bob Bell, Deputy Minister of Health --- responsible for $52 Billion budget (former CEO of The University
Health Network)
Kevin Smith, CEO of St. Josephs Health System
Dr. Jim Wright, Surgeon in Chief, Hospital for Sick Children
Dr. Dante Morra, Chief of Staff, Trillium Health Centre (and Rotman Grad!)
Dr. Tom McGowan, MBA, Founder Canadian Radiation Oncology Services (and Rotman Grad!)
Lydia Lee, MBA, Senior Vice President and Chief Information Office, University Health Network.
Dr. Michael Apkon, MBA, CEO of The Hospital for Sick Children
COURSE SCOPE
Healthcare represents a huge and growing sector in all industrialized economies, is representative of the service
and knowledge-oriented focus of the 21 st century economy, and has significant and unique management
challenges that have not been adequately addressed in any jurisdiction on the planet! Virtually all observers
agree that the aging population and increased patient demand for new services, technologies, and drugs are
contributing to the steady increase in healthcare expenditures, but so, too, is waste. For instance, many types of
medical errors result in the subsequent need for additional healthcare services to treat patients who have been
harmed. A highly fragmented delivery system that largely lacks even rudimentary clinical information capabilities
results in poorly designed care processes characterized by unnecessary duplication of services and long waiting
times and delays. And there is substantial evidence documenting overuse of many services services for which
the potential risk of harm may outweigh the potential benefits
However much the healthcare delivery marketplace environment may resemble a business environment, careful
analysis reveals that healthcare organizations are considerably more than mere businesses. Peter Drucker tells us
that hospitals, for example, are the most complex form of human organization we have ever attempted to
manage. This complexity derives from, among other things, the confluence of professions (e.g., medicine, nursing,
social work, pharmacy, nutrition, accounting, engineering, and physical therapy), numerous stakeholders with
competing claims, perspectives and time horizons, underdeveloped information technology, and the incomplete
knowledge of medicine.
This course aims to provide a framework for appreciating and managing this complexity. The course is designed
around the key challenges identified by The Institute of Medicines influential report Crossing the Quality Chasm
(2000). That report noted the need to address the following challenges in healthcare:
Redesign of care processes based on best practices
Use of information technologies to improve access to clinical information and support clinical decision
making
Knowledge and skills management
Development of effective teams
Coordination of care across patient conditions, services, and settings over time
Incorporation of performance and outcome measurements for improvement and accountability
With these challenges in mind, this course provides an overview of the central issues in the management of
healthcare organizations and healthcare systems. This includes developing a working knowledge of the key facts
about our healthcare system. Some of the issues we will examine are unique to the Canadian context (e.g., the
role of government), and others transcend jurisdictional boundaries (e.g., stakeholder relations). The topic areas to
be covered in this course may shift in emphasis from time to time, based on current debates in the health sector. In
a typical term we will address topics such: as understanding the Canadian health sector (with comparisons to
systems in other industrialized countries); comparing and contrasting various integrated healthcare delivery systems;
the role of professions vs. occupations in healthcare organizations; the unique challenges of managing
multiprofessional organizations, knowledge creation, management and diffusion in healthcare organizations;
patient-centred care; issues related to patient safety and quality improvement; and managing change and
transformation in healthcare organizations and systems.
The course will not directly explore two important segments of the health sector --- medical devices and biopharma. However, students who wish to work in these industries will need to have a strong working knowledge of
the healthcare delivery sector. When feasible and appropriate, guest speakers from the healthcare sector will be
invited to join our class.
REQUIRED RESOURCES
Case Packet
Regular scanning of articles in the on-line journals available from Longwoods Publishing
http://www.longwoods.com/
COURSE SIMULATION
Rotman faculty, in partnership ExperiencePoint and with input from health system leaders, have designed the webbased simulation ExperienceChange: HealthCare. We have used this simulation in Rotman Executive programs
and Ministry initiatives with great success, and have now incorporated it into this course. This simulation will prepare
you to test both your theories about change and the efficacy of the tactics you choose to employ. Additional
information about the simulation can be found at http://www.experiencepoint.com/sims/Lakeview.
Students should note that the simulation experience is intensive, and does not fit neatly in to the traditional 2 hour
class session. Consequently, the simulation will be conducted from 9 am to 4 pm on a Saturday during the term.
The number of traditional class sessions will be adjusted accordingly.
Component
Class Contribution & Participation
Individual Assignment Briefing note to
the Minister of Health (individual)
Approximately 4 pages
Due Date
Ongoing
Weight
20%
Due approximately mid Oct
15%
Learning Journal (Part 1)
Due TBD (Weeks 1-6 inclusive)
10%
Learning Journal (Part 2)
Due TBD (Weeks 7-12 inclusive)
10%
Simulation Analysis
Due approximately early December
5%
Final Research Paper (2 person group)

Approximately 10 pages
Due approximately mid-December
40%
RSM 2021
Corporate Strategy
Sarah Kaplan
sarah.kaplan@rotman.utoronto.ca
Brian Silverman
brian.silverman@rotman.utoronto.ca
TARGET AUDIENCE
This course is suitable for those pursuing careers in general management, strategy consulting, and corporate
finance.
COURSE MISSION
In Corporate Strategy, we extend the analysis of business level strategy from RSM 1301 to the corporate or multibusiness level.
COURSE SCOPE
We address questions such as: What strategic factors influence the optimal size of the firm in terms of scale and
scope? How might corporate managers employ diversification strategies that create more value than that which
investors could accomplish by diversifying their portfolios? How might multi-business unit firms identify potential
threats with respect to weaknesses relative to single-business unit competitors? How might corporate managers
exploit commitments in one business area to benefit another? What types of pricing advantages might multibusiness firms exploit over single-business competitors? How might multi-business units influence coordination
strategies with other firms, such as those associated with setting technical standards? How might multi-business unit
firms exploit particular demand-side features, such as network effects and positive feedback? To what extent are
clever strategic tactics congruent with the overall welfare for humankind? We will explore such questions through
the lens of economic theory, apply the concepts in the context of case analyses, and discuss implications for
corporate strategy.
REQUIRED RESOURCES
Readings package, including 5 cases (no required text).
COURSE FORMAT
12 or 13 regular sessions. Teams are required to present either a case analysis or a case critique. Every team will also
prepare one sheet of questions for a case they are not presenting or critiquing.
Component
Due Date
Team case/critique
Various, depending on team number
presentation
Team preparation of
Various, depending on team number
questions
Class contribution
Ongoing
Final exam
TBA
Weight
30%
5-10%
10-20%
40-55%
RSM 2023
Strategic Change and Implementation
Brian Golden
bgolden@rotman.utoronto.ca
Bill McEvily
b.mcevily@rotman.utoronto.ca
TARGET AUDIENCE
The perspective taken in this course is that all managers require the conceptual frameworks and action skills to
enact change and implement strategy. What differs, however, is the extent to which these skills are necessary at
various stages in ones career. Most obviously, students interested in a consulting career (as an external or internal
consultant) should benefit greatly from this course. However, other students who will be expected to enact
change without formal authority (e.g., brand managers; project leaders) are also expected to benefit from this
class.
COURSE SCOPE
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.
A fundamental objective of this class is to align strategic vision, organizational structure, task, people, reward, and
control subsystems. That is, at one level this course is about the interactive relationship of strategic intent and
strategy implementation.
Our perspective in this course is that of the general manager whose responsibility is the long-term health of the
entire firm or a major division. General managers, from our perspective, are managers who are in the position to
make strategic decisions for the firm. Note that such managers are not "generalists" in the sense that they need to
know a little bit of everything, but not very much of anything. To be effective, general managers need to have indepth understanding of the generic problems in all the relevant functional areas. Furthermore, they must be able
to deal with problems and issues at the level of the total enterprise and its relationships with relevant external
environments.
REQUIRED RESOURCES
Course reading packet. Each assigned article or chapter will help you address the issues in the corresponding
cases. While we may not discuss each non-case reading, failing to read and think about each reading will limit
your ability to address that day's assignment. In addition, your individual final assignment is based on the recent
book Inside Apple by Adam Lashinsky, (Business Plus, 2012).
RSM 2030
Canadian Business History in a Global Context
Joe Martin
jmartin@rotman.utoronto.ca
TARGET AUDIENCE
Students interested in anticipating the future direction of Canadian Capitalism. The Course is about Canadian
Business History in a Global context. The purpose of the course is to help students think historically about future
personal decisions.
COURSE MISSION
The main objectives of the course are to help students understand the evolution of business in a Canadian context
as well as to give students insights from the lessons of the past. As George Santayana wrote, those who do not
remember history are condemned to repeat it.
In analyzing business in Canada special attention has been paid to what Joseph Schumpeter called creative
destruction. The Stern School of Business Diamond of Sustainable Growth has also provided a useful framework for
Case analysis. The Diamond covers public policy; the financial system, entrepreneurs and professional managers of
large corporations.
Attention is paid to major issues such as the battles between Free Trade and Protectionism and between those who
are pro Foreign Direct Investment and those who are against.
Particular attention is paid to long term shifts both within and without Canada from Quebec City to Montreal to
Toronto and now to Calgary?; from France to the UK to the US and now to China and India.
COURSE SCOPE
The Course is divided into three Parts, beginning in the mid 19th century and ending in the early 21st. Each Part
begins with an overview of the time period, where both the general conditions are examined as well as specific
corporate developments. After the Overview there are three or four original Case Studies illustrative of the
particular time period, written specifically for this course.
REQUIRED RESOURCES
There is a Text book entitled Relentless Change: A Casebook for the Study of Canadian Business History, the first
casebook for the study of Canadian Business History. There is also a small Course Package.
COURSE FORMAT
4 Friday/Saturday intensive classes will feature discussion with Business Leaders who have funded the course, e.g.
L.R. [Red] Wilson and Dick Currie. Ten will be Case based, using original Cases written for the Course.
Component
Due Date
Class Participation
Ongoing
Mid term team assignment
Week seven
Take Home Exam
To be distributed in class in week 12
Due by noon two weeks later.
Weight
20 %
40 %
40 %
RSM 2054
Technology Strategy
Mike Abramsky
michael.abramsky@rotman.utoronto.ca
TARGET AUDIENCE
The course is intended for those interested in senior roles in technology firms or technology divisions of larger
companies, creating (or investing in) technology startups or companies, technology strategy consulting, or
analyzing technology companies in capital markets.
COURSE MISSION
Rapid technological innovation is both a source of competitive advantage and disruption -- for companies and
industries. Effective technology strategy can create and sustain competitive advantage, displace incumbents,
defend against new entrants and create new markets. While most evident in high-technology industries mobile
communications, hardware, software, services, online, networks, cloud, biotechnology technology strategy can
be pivotal to success in traditional industries such as publishing, manufacturing, healthcare, education, financial
services.
Students should leave the course with a sophisticated understanding of:
1)
The role of technology strategy in an organization, and its effects on developing and sustaining
competitive advantages;
2)
Strategies and tactics employed by high profile historic technology firms and their degree of success or
failure in driving new growth or adapting to industry change;
3)
Means to assess, develop and evolve a technology strategy for a firm (or analyze existing strategies in
place in evaluating a firms strengths and weaknesses) in the context of its industry, including
competitors, suppliers, customers, etc.
4)
Business model implications of strategic technology priorities, including investments (IT, R&D, patents,
etc.), targeted productivity/efficiency or new business outcomes, and related impact on growth,
profitability/margins, etc.
5)
Organizational and cultural issues to consider in developing and executing technology strategy for
small to large companies
COURSE SCOPE
This course will study the development of technology strategy as a key part of business strategy; analyzing both
successes and failures in the context of the ecosystem of customers, competitors, suppliers, etc.
REQUIRED RESOURCES
Burgelman, Robert A., Clayton M. Christenen, and Steven C. Wheelwright. 2009. Strategic Management of
Technology and Innovation. Fifth Edition. Boston: McGraw-Hill Irwin. As well 3 case studies will be covered.
COURSE FORMAT
There are thirteen class sessions. Ten sessions are devoted to a discussion of the readings and three sessions to case
analyses.
Component
Reading Review Sheet
Class Participation
2 Case Analyses
Team Project
Due Date
Day of Reading
Ongoing
week #5,6,8
Final Week
Weight
10%
15%
40% (20% each)
35%
RSM 2056
Game Theory and Competitive Strategy
Mike Ryall
mike.ryall@rotman.utoronto.ca
TARGET AUDIENCE
Strategic management is fundamentally about developing and deploying the firm's resources in such a way as to
capture maximum economic value (profit). The ability to capture a share of the value that one creates is often
bedeviled by the presence of capable, highly motivated competitors. Advanced Strategic Analysis is aimed
primarily at students interested in developing the ability to analyze strategic decisions using a sophisticated, stateof-the-art set of quantitative tools. This course is particularly useful for students interested in strategic management
and management consulting. The material presented here complements that in other areas, most notably Finance
and Economics (since we assess the "cash flow" part of discounted cash flow).
COURSE MISSION
Students completing the course should acquire a firm grasp of the general principles of strategic decision making
through precise insights into the relationships between value creation, competition, persuasion, and value capture.
COURSE SCOPE
The primary focus of this class is on developing and applying a game theoretic model for strategic decision making,
known as the Value Capture Model (VCM). This model is carefully designed to analyze value capture in
competitive settings. The VCM is a unique synthesis of non-cooperative and cooperative forms of game theory.
The first half of the course focuses upon general principles, which provide a foundation for analyzing a wide variety
of strategic decisions. These include problems of market entry, new product development, organizational design,
alliance formation, technology acquisition and merger evaluation, to name a few. In the second half of the class,
the focus shifts from the theory to its application. The second half of the course pivots from the general to the
specific by applying the VCM tools to specific business cases.
The material is fresh-off-the-whiteboard research into the theoretical principles of strategic management. Because
the ideas are not widely in practice, the insights grasped lead to knowledge that is both scarce and valuable. That
said, the course is definitely not for everyone. Elements that traditionally lead some to regret using up a valuable
elective on it include:
The material is mathematical and abstract. Those who are unfamiliar or uncomfortable with symbolic
notation or who question the value of models are not advised to take it.
There is a large number of new concepts, definitions and propositions. Keeping up with the flood of new
technical material is hard.
The lion's share of the homework and exams involves working through numerical problems. Therefore, this is
not a class for people who have a strong distaste for problem solving.
There is no textbook just lectures supplemented by academic journal articles. Those who prefer highly
polished materials are likely to be frustrated.
REQUIRED RESOURCES
All of the required materials for this course are included either in the case package or in electronic form from the
portal.
COURSE FORMAT
13 regular sessions offered weekly in the Spring 2016 term.
Component
Mid-term exam
Participation
Group Assignments
Final Exam
Due Date
Week 7
Ongoing
Various
TBD
Weight
25%
5%
35%
35%
RSM 2058
Case Analysis and Presentation
Tim Rowley
Rowley@rotman.utoronto.ca
WHY
Translating your business skills into career success requires the ability to effectively present your ideas.
By second year, Rotman MBA students are able to analyze complex business problems and make astute
recommendations. However, in organizations that is not enough because good recommendations go
unacknowledged unless presented well. While students have invested in their abilities to solve businesses problems,
their career success depends on the ability to effectively communicate those ideas in business settings.
TARGET AUDIENCE
For students interested in honing their skills in areas such as analysis and synthesis of information about management
situations, formulating recommendations, developing implementation plays, and professional presentations.
COURSE MISSION
The specific course objectives are:
To increase your effectiveness in informal communication and formal presentations.
To better understand how to use business school models and tools.
To become a more complete business manager by combining expert analytical and presentation skills.
COURSE SCOPE
This course provides second year students with the opportunity to hone their presentation and communication skills.
Students will enhance their abilities to (1) select the appropriate analytical models to match specific business
problems, (2) presents effective presentations, (3) develop logical arguments to support their ideas.
The course pedagogy focuses on learning-by-doing. Students will learn by regularly presenting their
recommendations for business problems, reviewing peer feedback and receiving faculty coaching. Student
presentations will occur most classes and often involve video tape analysis.
REQUIRED RESOURCES
No textbook. There is a package of readings and cases.
COURSE FORMAT
Regular class sessions, 2 small group meetings, 1 individual meeting comprising 13 sessions
Component
Team presentations
Individual Written Assignment
Participation
Due Date
TBA
TBA
Each Class
Weight
40%
40%
20%
RSM 2059
Health Care Consulting: Field Application Project
Zayna Khayat, Adjunct Professor, Rotman School of Management
zayna.khayat@rotman.utoronto.ca
Linda Blair, Principal, Deloitte Consulting
linda.blair@rotman.utoronto.ca
TARGET COURSE PARTICIPANTS
This course is a recommended and qualifying course in the Rotman School of Managements major in Health
Sector Management (and the Rotman Consulting Major). This course aims to improve your ability to formulate and
implement organizational strategy and improve performance in healthcare and life sciences organizations in the
public and private sectors. The course will help prepare students for leadership roles in healthcare management
and consulting. Consequently, students interested in consulting careers, even outside of healthcare, will develop
critical skills for the next stage of their career.
Students are strongly encouraged to complete the fall course Health Sector Strategy and Organization prior to
taking Health Care Consulting. Those students who have not completed Health Sector Strategy and Organization
will require permission from the instructor in order to enrol.
COURSE DESCRIPTION
This course is intended to provide a field application experience as part of your overall Rotman learning
experience. As such, the course has several objectives:
To encourage you to use the mix of functional skills and tools you have learned in previous Rotman courses in
the first year and the second year fall semester.
To take those skills and tools from their abstract presentation or artificial case study settings and use them in a
real (and important) management setting in a real organization.
To show, in way that cannot be done in the classroom, how knowledge must be adapted to fit real problems or
opportunities.
To expose you to the craft and process of management consulting.
To further develop your leadership and team effectiveness skills.
This course will provide a supervised experience in the art and science of (a) shaping client-defined issues in ways
that make them tractable and (b) applying new ideas effectively in complex organizational settings. The field
application takes the form of a consulting project, but this is not primarily a course in how to do garden-variety
consulting. For those who have not had the consulting experience yet, it will, of course, provide the basics. But it
will also give you experience with techniques, approaches, and coping mechanisms for problem solving in
unstructured, sometimes ambiguous, and imperfect situations, especially when you have to influence a situation by
expertise and persuasion rather than having direct control over it, and within a confined time frame. You will, in
other words, be confronting the reality that most managers and consultants face most of the time.
COURSE STRUCTRE
The client engagement is the heart of the course, and you will be involved in helping to shape its direction and
content as well as carry it out and effectively engage your clients with your findings and recommendations. The
course is structured to maximize your learning about both the content of the project itself and about how to work
effectively in a project-oriented, team-based environment. The most important elements of the course structure
are:
1) A tutorial approach to your teams initial work plan development, problem diagnosis and problem
solving, management of client-team and within-team issues, and final presentations.
2) Use of course instructors. Each team will have access to two instructors Linda Blair, (Principal, Deloitte
Consulting) and Dr. Zayna Khayat (Adjunct Professor, Rotman School), and three co-instructors.
3) An abridged series of class sessions designed to orient you to the course, our expectations, prepare you for
the project, and introduce you to the core consulting skills you will use.
4) Preparation of a Statement of Work that will lay out the scope of work, resources required, timeline,
workplan and deliverables. An initial draft of the Statement will be submitted for feedback. Each team will
add a confidential note to the faculty that describes your hunches about possible hidden agendas,
difficulties you think you may encounter in executing the project, and what resources you think you will
need to successfully complete the project within the time frame.
5) Preparation for and participation in weekly check-ins with your assigned course instructor to review progress
on the project. All team members must attend.
6) A storyboard and dry-run of your final presentation of findings and recommendations to your client. All
team members will receive feedback on content and presentation skills.
7) Presentation of the project report to the client and final written report.
8) A final wrap-up session with your classmates.
RECOMMENDED COURSE RESOURCES
Background materials provided by client (REQUIRED)
Regular media coverage on your client and the issues the organization faces
Regular scanning of articles on health care in key sources such as Longwoods Publishing
http://www.longwoods.com/
EVALUATION AND GRADING
Faculty and client evaluation of group performance on project (40%)
Faculty evaluation of individual contribution (25%)
Faculty evaluation of reflection paper (20%)
Teammate evaluation of individual performance (15%)
SUMMARY OF WRITTEN ASSIGMENTS
Team Charter (group)
Statement of Work (group)
Client deliverable (group)
Reflection paper on learnings (individual)
Teammate evaluation (individual)
RSM 2060
Network and Digital Market Strategy
Joshua Gans
joshua.gans@rotman.utoronto.ca
INSTRUCTOR BIO
Joshua Gans has just been appointed as the Jeffrey S. Skoll Chair of Technical Innovation and Entrepreneurship at
Rotman. Previously, he was a Professor at the University of Melbourne and, most recently, was visiting Harvard
University and Microsoft Research. Joshua holds a PhD in Economics from Stanford University and, in 2007, received
Australias award from the best economist under the age of 40. Joshuas research concentrates on innovation
strategy, start-up commercialization, network competition, and digital platforms. He has written numerous books
including Core Economics for Managers and Information Wants to be Shared. Joshua is a prolific blogger and
tweeter (twitter.com/joshgans). Joshua co-founded the Digitopoly blog (www.digitopoly.org).
TARGET AUDIENCE
This course is intended for those interested in pursuing or engaging with network and digital markets including, most
notably, online ventures, e-commerce, media, and information platforms. Those wanting to engage in
entrepreneurial start-ups on the Internet are particularly targeted. The course will also link to issues in public policy
and regulation for network markets as part of introducing students to important non-market aspects of
entrepreneurial strategy.
COURSE MISSION
Some of the most dynamic firms in economies around the world are actively pursuing network or digital strategies.
These include Apple, Google, Facebook, among others. There is sizeable entry of start-ups into this space and also
a set of established firms (particularly, media companies) who are facing disruption as a result of digital
technologies.
The goal of this course is to provide students with the tools to evaluate and formulate strategies in networks and
digital markets. What choices do start-up firms face? How can they evaluate these choices in the face of
uncertainty? How can start-ups be creative in their business plans to ensure diffusion and sustainable ventures?
What are the roles of large-scale data gathering and business model experimentation? How should established
firms facing disruption respond to new competitive challenges?
The outcome of this course will be a preparation for the tackling challenges in the digital economy using clear
strategic thinking applying a variety of economic and game theoretic tools. The goal will be to allow students to
become thoughtful participants in business level debates about strategy.
COURSE SCOPE
The course covers topics such as first mover advantages, network effects (particularly arising from social drivers),
online pricing strategies, establishing online exchanges, digital market design, strategies for information goods,
standard setting, privacy, intellectual property rights, online advertising markets and the elements of platform
strategy. The subject matter will be a blend of economic theory and strategic thinking with current business cases
for online, media and network companies. It will include a focus on current issues such as social networks, cloud
computing and media content funding. In all cases, the role and incentives for innovation will be stressed.
REQUIRED RESOURCES
A variety of readings will be provided (as well as purely online sources).
COURSE FORMAT
12 weekly classes
Component
Due Date
Online Participation
Ongoing
Critical Case Analysis
TBD
Term project (group or
Due at end of term
individual)
Weight
20%
30%
50%
The evaluation will be novel and will utilize online and social media in a unique way. The term paper will involve a
menu of choices including well-defined strategic analysis to student-nominated evaluation of their own start-up or
innovative ideas. The emphasis is on methods of evaluation that complement the learning experience and
prepares students for real-world activities upon graduating from Rotman.
RSM 2061
Leveraging Strategic Networks
Professor Bill McEvily
bill.mcevily@rotman.utoronto.ca
INTENSIVE FORMAT
This course is offered in the intensive format. All sessions will occur over two half days (Fridays) and two full days
(Saturdays). The format is concentrated and ambitious, but also well-suited to focused and in-depth coverage of
the topic.
NETWORKING
Some see it as unpleasant and offensive, others view it as a necessary evil, and there are those that find it just plain
baffling. Although the concept of networking is not new, the core principles that make this activity valuable to
individuals, entrepreneurs, and organizations are often misunderstood. My purpose in this course is to cut through
the clutter and help students gain a better understanding of how to create, use, and evaluate networks to
generate value. To do so I will introduce students to some simple, but powerful principles that explain: how
networks form, what benefits are associated with different positions in networks, and the social dynamics (e.g.,
reciprocity, trust, norms, reputation) upon which networks are based. As a result, students will gain valuable insights
about developing a strategy for managing their own professional networks and will learn how to leverage
organizational networks to achieve strategic outcomes. As a way of gaining insight into how networks operate,
students will practice putting the network principles to use by: (1) conducting a self-assessment of their own
professional networks, (2) considering how organizational networks influence strategic change and
implementation, and (3) examining how companies are strategically leveraging (online and offline) social networks
to create value.
TARGET AUDIENCE
This course will be of particular interest to students in the Consulting, and Leadership & Change Management,
Innovation & Entrepreneurship majors. This course is a complement to several other strategy electives including:
Strategic Change & Implementation, Entrepreneurship, Network & Digital Market Strategy.
REQUIRED RESOURCES
An electronic course packet of cases and readings will be provided.
COURSE FORMAT
We will use a combination of case discussions, guest speakers, in-class exercises, breakout group discussions, videos
and lectures.
Component
Class Contribution
Network Self-Assessment
Social Strategy Analysis
Due Date
Weight
20%
40%
40%
RSM 2062
Management Consulting Practicum
Scott Rutherford
scott.rutherford@rotman.utoronto.ca
COURSE DESCRIPTION
In this course students will be working on a real-life, real-time consulting engagement. The experience will help
students understand the consulting process as well as develop a set of structured model-building, problem-solving,
and communication skills that will help to bring clarity and structure to a business predicament and identify
appropriate solutions.
This course uses a client project-based format to help students develop a deep client-orientation and client
management skills. This course is meant to be a practical and client-focused complement to RSM 2052
Management Consulting Foundations Course where the specific skills of consulting are developed in more depth.
The course is organized around the phases of a typical consulting engagement: letter of proposal (LOP), problem
definition and structuring, data gathering and analysis, collaborative and integrative team-problem-solving,
recommendations development and presentation. Throughout the course, students will grapple with helping a
client start a shift from their current situation to a more desired situation. The capstone of the course will be a
working session with executives of the client organization guided by the most powerful insights of the student
presentations of the previous day.
COURSE MISSION
The course is intended both for students interested in management consulting as a career, as well as those students
interested in corporate problem-solving more generally. The learning objectives of the course include:
Approach and frame a consulting engagement

Engage with a client to understand their current and desired situations
Work with the client to develop an appropriate model of the problem to be solved
Specify and gather data to test the model and derive insights
Synthesize information into clear conclusions and recommendations
Facilitate a working session with the client to understand and develop ownership for the implementation of
recommendations.

Assignment
Assignment Description
Defining and Modeling
Define the clients problem (problem definition), as
the Problem (team)
well as the drivers of the problem (problem model)
Deliver a written report progress your team has
Progress Review
made to date in defining, structuring, and solving the
(team)
problem
Structure and provide thoughtful developmental
Feedback to Team
written feedback for each of your team-members on
(individual)
the basis of your experience with them on this
engagement
Assessment of your performance on the
Feedback from Team
engagement as aggregated from the feedback
(individual)
received from your team-mates.
Assessment of your performance on the
Feedback from Client
engagement and during course from the
and Director (individual)
perspective of clients, senior team members (TAs)
and Director (instructor)
Total
Weight
15%
25%
20%
20%
20%
100%
RSM 2063
Catastrophic Failure in Organizations
Andrs Tilcsik
andras.tilcsik@rotman.utoronto.ca
INSTRUCTOR BIO
Andrs Tilcsik received an Excellence in Teaching Award in 2014 and a Rotman School of Management Teaching
Award in 2015 as well as the Derek C. Bok Award for Teaching Excellence at Harvard University in 2009. His research
has been covered widely in the media, including The Economist, Forbes, The New Yorker, The Washington Post, and
Bloomberg BusinessWeek, and was used in testimonies to committees of the U.S. Congress. His consulting work
focuses on helping government and corporate clients address complex, catastrophic risks. Andrs holds a Ph.D.
from Harvard Business School.
TARGET AUDIENCE
This course is for students interested in understanding what makes modern business organizations vulnerable to
catastrophic failure and how strategic and organizational design choices can mitigate the risk of such failure. The
course is particularly suitable to those with an interest in consulting, general management, leadership and change
management, and health sector management. Students with an interest in public policy may also find the course
rewarding.
COURSE SCOPE & MISSION
Addressing the risk of catastrophic failure is a critical strategic challenge for business organizations. From Knight
Capitals trading meltdown to the collapse of Lehman Brothers to BPs Gulf of Mexico oil spill and the Fukushima
Daiichi nuclear disaster, numerous events in recent years have exposed the vulnerabilities of firms to catastrophic
failure. Rooted in complex human, organizational, and systemic factors, such failures have the potential to severely
disrupt and even bankrupt firms. Thus, business continuity planning and the protection of critical company assets
from such failures are now seen as a vital part of any enterprise. This course seeks to train students to recognize the
inherent vulnerabilities of business organizations to catastrophic failure, to understand why the risk of such failure
represents both a profound challenge and a potential opportunity, and to become more effective decisionmakers in general. To do so, we examine biases in human cognition that prevent managers from thinking
effectively about the risk of catastrophic failure; consider why even small errors can have devastating
consequences in complex systems; and examine how organizational barriers to learning and communication can
set firms up for catastrophic failure. Throughout the course, we will consider opportunities for managers and
consultants to manage these challenges.
REQUIRED RESOURCES
This course relies on written cases and documentary films to understand the nature of catastrophic failure in
organizations. All readings and video materials will be available online.
COURSE FORMAT
13 weekly sessions
Component
Weight
Class contribution
20%
Short paper
15%
Final paper
65%
Due Date
Ongoing
TBD
TBD
RSM 2080
Business Sustainability Strategy
Instructor Name: Mr. Richard Blundell
Richard@townsity.com
NEW INSTRUCTOR BIO
Mr. Blundell has over 30 years of senior executive management and consulting experience in the global
environmental services and technology sectors. His experience includes operations management, corporate and
market development, mergers and acquisitions, new business initiation, and consulting. Mr. Blundells international
experience includes leading businesses in Europe, North and South America, Africa, and Asia (12 countries from
India to China). He has significant experience in new business creation and the management of seven early-stage
businesses in global markets. Mr. Blundell holds a BSc from the University of Toronto and an MBA from the
International Management Institute, Geneva (now IMD, Lausanne).
TARGET AUDIENCE
Those who enjoy working in groups, learning from real-world experiences and building new ideas in a collaborative
environment will enjoy this course. Moreover, those interested in a career, which marries sustainability with
entrepreneurship and innovation, will find this a very practical approach to delivering meaningful insights and
learnings in this high growth industry.
In this course, students will learn how companies design and deliver new business models by employing
sustainability as the source of innovation to generate new growth. You will be exposed to some of the leading and
most innovation companies in the Cleantech and Sustainability industry, which have built a track record of
successful business model innovation and sector leadership. We shall define Business Sustainability as sustained
resource efficiency. We shall examine sustainability led business model innovation across the value chain. You will
learn from others who have done it, by being exposed to senior executive, guest speakers from leading-edge
companies to share their experience with you in the classroom. We will examine business model innovation across
a landscape of relevant topics and sectors, including energy, mobility, retail, cities, big data, social media and
finance. Lastly, we will look at sustainability innovation taking place in the developing world and how this is
impacting the developed world, as well as learning from failed ventures.
The course is hands-on and project-based. You will work in groups to design new, sustainability-led, business models,
which generate new growth, from existing business model and market innovation. You will also individually examine
a Cleantech venture to determine its key, strategic control points, which enable unique, competitive positioning.
REQUIRED RESOURCES
N/A
COURSE FORMAT
Spring Term 2016: 12 weekly sessions
Component
Class participation
Venture strategy analysis (individual)
Group presentation & report (group)
Due Date
Ongoing
Week 8
Weeks 10-12
Weight
10%
40%
50%
RSM 2081
Entrepreneurship for Social Ventures
Laura Doering
laura.doering@rotman.utoronto.ca
TARGET AUDIENCE
This course is aimed at students who want to start social ventures, change an existing venture to become more
sustainable, or simply learn about the principles of social entrepreneurship.
In this course, students will learn how entrepreneurs create organizations that address social problems using
innovative, sustainable approaches. Students will examine a variety of social venture forms, and consider how such
ventures can be evaluated, managed, and financed.
Entrepreneurship for Social Ventures has three primary components. First, students discuss and debate the
principles of social entrepreneurship and apply them to cases of for-profit, not-for-profit, and hybrid organizations.
Second, students analyse how the goals, structures, practices of those ventures contribute to their successor
failure. Third, students work in teams to design their own social ventures, evaluate their feasibility, and constructively
critique ventures proposed by other student groups.
The course is hands-on and project-based. Those who enjoy critically discussing ideas, and then acting on those
ideas, will enjoy this course.
REQUIRED RESOURCES
Links to readings are provided in the course outline.
Sample readings include:
Martin & Osberg (2007) Stanford Social Innovation Review. "Social Entrepreneurship: The Case for Definition"
Leimsider (2014) "5 Bad Reasons to Start a For-Profit Social Enterprise"
Ivey Case: Growing Tentree: Social Enterprise, Social Media, and Environmental Sustainability
Ivey Case: SoJo: Modeling Social Enterprise
COURSE FORMAT
January-April, 1 credit
Component
Class participation (individual)
Oral exam (individual)
Draft report (group)
Group presentation
Final report
Weight
25%
30%
10%
20%
15%
Due Date
Ongoing
TBD
TBD
TBD
TBD
RSM 2098
Creative Destruction Lab Course Entrepreneurship*
Ajay Agrawal
ajay.agrawal@rotman.utoronto.ca
TARGET AUDIENCE
This course is primarily targeted at students who are interested in careers in strategy, entrepreneurship,
entrepreneurial finance, new product development, and economic development policy.
We study the process of commercializing technological innovation through a series of close interactions with real,
early-stage technology ventures and their potential seed investors (the G7). We apply basic economics and
analytical tools developed in the first-year MBA courses to evaluate the size of markets, the attractiveness of
industries, the sustainable competitive advantage of proposed strategies, the financing options and valuation of
early-stage ventures, and the downside risks and upside potential of individual entrepreneurs and their vision for
their companies; ultimately, we seek to develop the optimal strategy for a new venture.
The course involves working closely with new ventures seeking capital and with experienced entrepreneurs and
investors.
REQUIRED RESOURCES
COURSE FORMAT
September-April, 1 credit
Note Students enrolled in this course may be, but need not also be enrolled in:
RSM2099 - Creative Destruction Lab Course - Strategy
Component
Evaluation of applicants Part
1 (report and presentation)
(individual)
Evaluation of applicants Part
2 (report and presentation)
(individual)
G7 report and presentation #1
(group)
(group)
(group)
(group)
Overall class contribution
Weight
15%
Due Date
TBD
15%
TBD
15%
TBD
15%
TBD
15%
TBD
15%
TBD
10%
N/A
RSM 2099
Creative Destruction Lab Strategy
Joshua Gans
joshua.gans@rotman.utoronto.ca
TARGET AUDIENCE
This course is primarily targeted at students who are interested in careers in strategy, entrepreneurship,
entrepreneurial finance, new product development, and economic development policy.
This course is a complement to the Creative Destruction Lab Course. It focuses on developing an understanding of
the key choices involved in formulating entrepreneurial strategy, how this differs from traditional strategic
management, the relationship with experimental learning and the necessity of multiple business plan development
for a start-ups core idea. The key resource for analysis will be the real ventures that are part of the annual Creative
Destruction Lab cohort. Participants will interact with the ventures and it is envisaged that the work conducted in
assessment will also serve as key inputs for those ventures.
REQUIRED RESOURCES
COURSE FORMAT
Fall, 0.5 credits, Weekly classes (mostly)
Note Students enrolled in this course may be, but need not also be enrolled in:
RSM2098 - Creative Destruction Lab Course - Entrepreneurship
Component
Evaluation of a startup(individual)
Evaluation of a CDL venture
(report and presentation)
(individual)
Overall class contribution
Weight
50%
Due Date
Mid-Term
40%
End-Term
10%
N/A
Courses from other U of T Faculties

LAW 300
Art of the Deal
Gesta Abols
gabols@goodmans.ca
Robert Vaux
rvaux@goodmans.ca
COURSE OVERVIEW
This course is designed to provide students with a practical perspective on the fundamental motivations and
dynamics underlying business negotiations and transactions the genuine "art of the deal. The central theme of
the course is that most commercial, corporate and securities transactions including venture capital investments,
public and private M&A transactions, takeover bids, and joint ventures invariably (though in different ways)
involve fundamentally similar underlying contracting problems, including: controlling moral hazard and adverse
selection problems; creating effective mechanisms for managing long-term contractual relationships in the face of
inevitably changing circumstances; and establishing workable and effective arrangements for distributing the
benefits and risks of the transaction among the parties. By being able to identify these problems in specific
contexts, transaction advisors will be better equipped to respond creatively to the challenges and possibilities of
deal-making.
The first part of the course will focus on relevant legal, economic and financial theory. The theory will be presented
at an introductory level, and will be developed through case studies, legal decisions, actual deals and academic
commentary. The second part of the course will focus on recently completed actual deals. Students will be divided
into teams, and each team will be required to develop a detailed written analysis of its transaction based on the
deal documentation and the environment in which it took place. Students will be required to explain the strategic
background to the deal and to trace the various ways in which the parties resolved the relevant contracting
problems. Teams will be responsible for presenting this analysis to the class. Lawyers and other participants will work
with the students in connection with the presentations.
EVALUATION
Will be based on class attendance and participation (20%), two short notes (750 words each) based on the
assigned weekly readings in the first part of the course (30%) and the team analysis of the deal and presentation
(50%).
ENV 1707
Environmental Finance and Sustainable Investment: Risk Mitigation and Emerging Opportunities
Adjunct Professor Jane Ambachtsheer
jane_amb@hotmail.com
Adjunct Professor Susan McGeachie
s.m.m.mcgeachie@gmail.com
Time:
Place:
Background:
Career
Applicability
Objectives &
Scope:
Reading
Materials
Wednesday 6:30 8:30 pm

Rotman School of Management, Room 142
Environmental finance and sustainable investing are fast-emerging fields. They involve
the application of new and established financial market instruments and practices to
the management of environmental issues, and the incorporation of environmental,
social and governance (ESG) factors into asset management and shareholder
stewardship. Banks, insurance companies, pension funds, venture capitalists, financial
services companies, corporations and governments are becoming increasingly
engaged on the topic in order to manage risks and capitalize on new opportunities.
This course explores the growing materiality of ESG factors on the bottom line
financials, using real case examples of how various firms and investors are driving and
responding to this relatively new strategic area. An in-depth knowledge of financial
markets is not required.
Students leaving the course will be able to apply their new knowledge to a variety of
career paths. The following professions and/or fields have required expertise in the
area of environmental finance and/or sustainable investing:
Financial analyst, portfolio manager, financial product development
Investment and management consultant
Sustainability staff (especially for firms in high impact sectors such as oil & gas,
forestry, chemicals, metals and mining and utilities)
Commodities trader
Venture capitalist, private equity or real estate investor
Credit and insurance risk analysts
Investor relations, public relations, communications
Not-for-profit managers and executives
The objective of the course is to provide students with a firm grounding in range of
basic issues at stake in environmental finance and sustainable investing and an
awareness of their current application around the world. The course will examine how
established practices, procedures and tools from within the mainstream financial
market are being adapted to integrate ESG criteria, in the pursuit of financial
performance goals from both an investor and corporate perspective.
Each week has required readings as well as suggested background resources.

2015-2016 Rotman Fact Sheet

Caricato da

Informazioni sul documento

Copyright

Formati disponibili

Condividi questo documento

Condividi o incorpora il documento

Opzioni di condivisione

Hai trovato utile questo documento?

Questo contenuto è inappropriato?

Copyright:

Formati disponibili

2015-2016 Rotman Fact Sheet

Caricato da

Copyright:

Formati disponibili

MBA

Current Issues in Financial Reporting & Disclosure

EVALUATION AND GRADE DISTRIBUTION

COURSE SESSION OUTLINE

Identify the firms exercise

Strategic Analysis Case

Accounting Analysis Case

Marks and Spencer (HW 2)

Financial Analysis Case

Valuation Theory Case

Valuation Ratios in Airlines

Implied Cost of Capital

Credit Analysis Case

IPO Valuation Case

Air Berlin IPO

Creative Regional Strategies* (not offered in 2015-2016)

Nordic economies: Secrets of their success

Topic selection week 6

Desautels Centre for Integrative Thinking

Team Presentation (40%)

Top Managers Perspective

Expected, but Ungraded

Group Cases and

Throughout the term

What is the cash cycle within the firm?

How can the firm forecast its cash requirements?

How can the firm develop its cash budget?

How does securitization affect short term liability management?

How are incremental cash flows determined for investing decisions?

2 Group Case Analyses

Final Take Home Exam

1 week after end of course

Assignments & Cases

Hedge Fund Project

Close to end of course

Assignment 1 - Prior to Session 5

During Exam Period

Last two full sessions, group

Written Debate Report

Four days after debate, group

Take Home Exam

Distributed in final class, due in one week,

Mid term team assignment

Take Home Exam

To be distributed in class in week 12

RSM 2500 (Fall 2015)

RSM 2500 (Spring 2016)

2 x 15% (30% Total)

2 x 20% (40% Total)

Final Project Presentation

In Class and Online Participation

Operations Management & Statistics

Supply Chain Management

The Waldorf Property (Darden

Course package, lecture notes, selected readings.

End of the course

Organizational Behaviour / Human Resources

EVALUATION AND GRADE DISTRIBUTION

Two Weeks After Final Class

Business Government Relations

Qualitative Causal Analysis

Analyzing the Consulting Case

Quantitative Causal Analysis

Single Agent Influence Diagram