Strategic management refers to the formulation of goals that a business entity seeks to achieve, as well as the scenario to achieve these goals. Business entities, primarily represented by firms, function amidst closely tied relationships between various stakeholders such as competitors, customers, raw material suppliers, employees, and investors. Strategic management is a fundamental policy that provides direction regarding such relationships. In this course, students will examine topics such as how to compete with rivaling organizations in a particular market, as well as what business a firm should take on as a whole.
Human Resource Management
In order to establish a strong and competitive organization, limited management resources must to be allocated appropriately so that the people are assigned to the best-fitting roles. Human resource management is the means by which to achieve this result. This also includes the concept of selecting and assigning people to roles within the organization, supporting development in those roles, balancing evaluation and compensation, and the system for selecting and promoting leaders. This course will have students examine systems used in Japan, and then move on to global systems.
Corporations faced with environmental changes such as advances in information technology and intensifying competition must adapt quickly. One approach is overseas expansion, although it comes with many challenges. For instance, which countries should the corporation expand to? How can it break into the local market effectively? How should sales, production, and R&D centers that are scattered around the world be linked? Through this course, students will investigate issues and theories in international management.
Marketing is the establishment of a framework to support continuous sales of a product and image of a company. With so many different products flooding our senses everyday, a corporation cannot simply create a low-cost, convenient product and expect it to sell on its own. In this course, students address the question of what consumers want, and the theories and approached required segment consumers based on demographics, plan products targeting each segment, set appropriate prices, and execute promotional initiatives.
Corporations periodically disclose financial information to investors, creditors, and various other stakeholders in order to provide an understanding of the corporation’s current conditions and anticipating future prospects. The financial statements that provide core information include balance sheets, profit and loss statements, and cash flow statements, all of which are formatted according to national or international accounting standards. The financial statement course aims to examine the theoretical framework of the preparation and disclosure methods set forth in different accounting standards.
Management accounting refers to financial data that supports management in making management decisions for the organization and development of a corporation. For example, it provides information necessary to decide whether or not to accept an order from a one-time customer, or data to understand performance of which products are profitable. There is widespread use of management accounting now not only in corporate settings, but also in public sectors such as governments, municipalities, and non-profit organizations such as medical institutions. This course examines the methodology and approaches required in management accounting.