Before we get into our usual Carnival of the Capitalists rants, we wanted to take a few moments to remember one of the greatest management thinkers and visionaries of all time, Peter Drucker, who passed away this past week.
I was first inspired by Drucker's writings about thirty years ago when I was walking the halls of academia as a young college student. In graduate school, Drucker inspired me to think more seriously about entrepreneurship. He was writing about the importance of entrepreneurship in our economy long before it was cool. In the early 1980s his writings helped me to form my early thinking about entrepreneurship as an academic discipline. In the late 1980s and into the 1990s his teachings often helped us as we first began, and then grew our health care ventures. In the late 1990s, I had the honor of hearing his words in person for the first time after we had sold our business and I had returned to teaching. Throughout every stage of my career, Peter Drucker's words have been there to challenge and inspire me.
His journey is now completed. May God bless you, Professor Drucker.
Here are some other tributes to Professor Drucker:
Ronny Max
Evolving Excellence
AdamSmithEsq.com
Phonton Courier
blog.websolvers
Phil Gerbyshak Challenges You to Make it Great!
EGO
Businesspundit
COTC will offer more tributes to Peter Drucker over the next two weeks.
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Today COTC comes to you from the beautiful campus of Belmont University, where I teach Entrepreneurship. So grab your book bag, put your cap on backwards, fire-up your iPod, slip on your flip-flops, and get ready to go back to college. It is time to head to our classes....
ECO 2210. Principles of Macroeconomics (3). Prerequisite: MTH 1020 or MTH 1080 or CSC 1020. An introductory course in macroeconomic theory. Primary emphasis is placed upon the study of economic aggregates. Topics to be studied include: the basic operation of a market economy; national income accounting, the determination of employment, output, and the price level; the banking system, fiscal, monetary, and supply-side economic policies.
Course Outline
The Prudent Investor argues that the Federal Reserve has taken a highly worrisome way to counter the exploding money supply. It will discontinue the publication of the most important set of data for economists and analysts that gives an indication at what speed the money printing press for the premier reserve currency of the world is running.
Financial Methods states that the Federal Reserve Bank of San Francisco (FRBSF) is hoping that rents will climb in the Golden State. This will allow housing fundamentals to return to a more normal level without a severe decline in real estate prices.
ECO 2220. Principles of Microeconomics (3). Prerequisite: MTH 1020 or MTH 1080 or CSC 1020. An introductory course in microeconomic theory. Primary emphasis is placed upon the study of the behavior of individual decision-making units. Topics to be studied include: demand and supply analysis, the theory of consumer behavior, the theory of the firm, market structures and resource allocation, and resource price-employment determination.
Course Outline
Gongol.com offers questions to ask before a community gets into the business of supplying utilities like electricity or broadband Internet.
ECO 3130. Topics in Economics and Public Policy (3). Prerequisites: ECO 1110 or ECO 2210. A detailed study in a topic of special interest in economics.
Course Outline
voluntaryXchange examines the following hypothesis: The root causes view - that privation is the cause of crime - has been an effective cudgel with which liberals beat up capitalists. The post-Katrina experience is a natural experiment which strongly rejects this argument.
Triple Pundit suggests that contrary to popular belief, 100% recycled means practically nothing. So what do companies mean when they claim it? And what are the marketing implications? This lecture suggests that this is one of those cases where legislative changes are needed to protect the consumer and to prevent false claims from blowing up in the face of honest businesses.
The Business of America is Business explores the results presented at a recent seminar on "The Economic Impact of Wal-Mart" hosted by the economic forecaster, Global Insight.
Econbrowser reports on a little known exchange during the recent Senate hearings on Big Oil.....
Catallarchy poses the question: What is wrong with child labor?
ECO 4400. International Economics (3). Prerequisites: ECO 1110 or ECO 2210. An examination of the special problems and issues surrounding the economic interaction of sovereign nations. Topics include gains from trade, patterns of trade, balance of payments, determination of exchange rates, free trade and protectionism, international capital markets, and issues in international policy coordination.
Course Outline
interim thoughts... tracks the innovations of India's mobile operators using micro recharges for their pre paid phones and wonders why banks have rarely tried to extend their services to the lower income groups.
Business and Technology Reinvention presents an overview of the Open Skies Agreement signed this week by the Canadian and United States Governments.
Combs Spouts Off examines Kurdistan's economic recovery and the role played by the US.
ETP 3000. Foundations in Entrepreneurship (3). This course will provide a basic understanding of the entrepreneurial process. Students will examine entrepreneurship as a career. A comprehensive self-assessment will help the students to better understand their own personal aspirations, and assess their unique skills and competencies. Students will learn about opportunity assessment for new venture ideas. An overview of business plans will be presented.
Course Outline
Ironman at Political Calculations highlights a bricklayers labor union that operates more like an entrepreneurial business and shows how it is successfully using its competitive advantages to grow.
Philobiblion suggests a new business model that's evolved over nearly three decades - you could call it the anti-Wal-Mart model.
CASE STUDY: Search Engine Guide (sent by Anita of Small Business Trends) is writing a series on setting up an online business to become profitable within 30 days, with zero cash outlay.
ProHipHop offers his thoughts on the business opportunities related to mobile content with an emphasis on small business.
ETP 3700. Entrepreneurial Financial Management (3). Prerequisite: ETP 3000. This course examines the process of financial forecasting for a new venture, effective financial management of an emerging business, sources of financing, bootstrapping, and exit planning.
Course Outline
View From a Height examines current trends in VC investing and possible causes.
Drakeview also summarizes venture capital trends, but says that VC interest in early stage companies may be hidden from view.
FIN 3460. Investment Portfolio Management (3). Prerequisite or Co requisites: ACC 2410, ECO 2220, MTH 1150. This course provides students with a practical, "hands-on" learning opportunity in managing an investment portfolio. Utilizing a quantitative and qualitative discipline of equity analysis, students are able to learn and understand some of the criteria that Wall Street professionals use to derive intrinsic values and earnings growth rates of common stocks. In addition, this course offers an overview of the financial markets and the techniques in valuing and managing a variety of securities and investment products.
Course Outline
The Big Picture examines myth of the hedge fund from a European perspective.
The Internet Stock Blog offer transcripts of companies' conference calls.
Abnormal Returns explores two new investment books from wildly successful institutional investors. They beg the question: How can they come to such different recommendations for individual investors?
The Real Returns asserts that socially responsible investments may let you stay away from the tobacco, alcohol, weapon manufacturers, and nuclear power stocks, but socially responsible investments may be very risky for your investment portfolio.
The Japan Stock Blog explores changes in the Japanese economy over the past year, particularly the increase in M&A activity.
Fat Pitch Financials discusses some of the basics on how to use EDGAR to research companies.
Mover Mike explains that the SEC, wanting to avoid short-squeezes in dozens of stocks caused by the closing out of naked short positions, opted to 'grandfather in' any failed deliveries before Jan. 3.
FIN 3510. Personal Money Management (3). Prerequisite MTH 1000 level or higher. This course includes the relationship of the consumer to the economy, markets and prices, money management, home mortgages, family transportation, estate planning, insurance, investments, savings and taxes.
Course Outline
Free Money Finance wants us to learn more from the "Millionaire Next Door."
Multiple Mentality offers some bootstrapping tips for using e-mail and e-paying bills.
Searchlight Crusade delves into the pitfalls of various home mortgage instruments.
Pacesetter Mortgage looks at how one asset, your home equity, can get stuck in another asset, your home.
ISM 4310. Information Technology Management (3). Prerequisites: ISM 3300 and a programming language. This is a case-oriented course that deals with the researching and management of IT trends, both national and international. The course will cover such topics as: organizational issues, IT development issues, strategic planning, project planning, control and development, and the IT role in corporate strategic positioning.
Course Outline
Random Thoughts from a CTO answers the question, "How long can they manage without you?"
Gaurav highlights the growing issues with quality in Indian IT workforce.
MDS 1180. Introduction to Public Relations (3). A study of the profession of public relations, including the historical and theoretical underpinnings of the field and an examination of the range of career opportunities available to PR practitioners. This course will introduce students to what public relations is and how they can have a career in the field.
Course Outline
Scatterbox cautions against the claims of hyperventilating PR and tech business types who promote blogging to CEOs as the path to real corporate transparency.
JSLogan's thesis is that innovators and risk takers read blogs. They don't want safe, stale, and repetitive information. Blog readers want bold, innovative, and challenging thoughts and ideas.
MDS 3200. New Media and Culture (3). Prerequisite: MDS 2900. This course addresses the impact of new media -- Internet communication, wireless media, and combinations of traditional and new media -- on current and future cultures. Attention will be given to how new media may change ways we communicate, distribute and process information, and the social impact of these changes.
Course Outline
The blog Synergy asserts that it is such a sorry state of affairs that most media must resort to sensationalism to sell their news. I am holding out the hope that the business blog will be a leader in demonstrating that truthfulness is good enough, and far more responsible.
The Clog Almanac asks the question: How might society change if everything anyone thought and said followed them around in a cloud of blog tags swirling around their heads?
Blog Business World offers suggestions to bloggers who are having trouble coming up with content for their blogs.
Travel Blog Roundup reports on the start of a new blog carnival - about the travel industry and travel adventures.
MGT 3010. Health Care Systems: Issues and the Changing Environment (3). This course provides a comprehensive study of the various components of the American health care delivery system. This includes an overview of organizations that participate in delivery of health care services and an analysis of current health care issues.
Course Outline
InsureBlog suggests we look into a new healthcare delivery model - "drop in" medical services with prices posted upfront.
MGT 3110. Principles of Management (3). Prerequisites: ECO 2220, ACC 2420. A study of the generally accepted management principles which have contributed to contemporary practices found in successful business planning, organizing, directing, and controlling.
Course Outline
The Coyote Within explores the Work Ethic thought police.
Businesspundit takes a look at how cognitive biases and our desire to believe what we want to believe can lead us to make bad business decisions.
MGT 4960. Strategic Management (3). Prerequisites: MGT 3110, MKT 3210, FIN 3210; and senior standing. A study of strategy development and implementation by managers and executives. Integrates the individual functional courses from the viewpoint of the executive.
Course Outline
Polymath argues that GE should divest itself of NBC as that unit has very little in common with the other GE divisions.
Jack Yoest asserts that the one best way to judge a business is by its management team.
MKT 3210. Principles of Marketing (3). Prerequisite: Junior standing. An introductory marketing course designed to give a basic understanding of marketing principles used by businesses, and the operation of our marketing system. The marketing mix, marketing environment, strategic marketing planning, marketing of services, and international marketing are some of the topics discussed.
Course Outline
From The Social Customer Manifesto: The Cluetrain Manifesto starts with "Markets are conversations." If that's true, what are the things that companies need to do in order to embrace this idea? Should there be a "Customer Conversations Department?" And if so, what do we do with all the out-of-work marketroids?
Big Picture, Small Office questions the wisdom of having finance involved in the design of customer rebate programs.
Lip-sticking asks readers their thoughts on 'branding'. What is it? How important is it? Who cares?
Crossroads Dispatches advocates jargon-free language so that we each can be ambassadors to other disciplines and cultures encouraging innovation and cross-pollination of ideas.
MKT 3320. Consumer Behavior (3). Prerequisites: MKT 3210, PSY 1200. An analysis of consumer motivation, consumer motivation, consumer purchase decisions, and factors that influence the decision process. Psychological, cultural, and media influences on decision-making are discussed.
Course Outline
Okdork.com examines the craze of the iPod, and how it has conquered college campuses.
*Star In The Margin explains why being big, fancy or cheap isn't good enough anymore.
MKT 4020. Advertising Principles (3). Prerequisite: MKT 3210. This course gives students a broad perspective of advertising. Topics include developing advertising objectives and strategy, planning, buying, and scheduling media, creating and producing advertisements, industry regulation, and ethical issues in advertising.
Course Outline
Anyletter takes a serious look at some of the big text ad programs.
MKT 4320. Retail Management (3). Prerequisite: MGT 3300, MKT 3210. A study of strategic retail management. Attention is devoted to the retail strategy process, retail site selection, retail organization structure, and human resource management. In-depth analyses of merchandising planning and management, pricing, promotion, store design and layout, and customer service are covered.
Course Outline
Interested-Participant tells how Black Friday, the day after Thanksgiving and the year's busiest shopping day, is changing due to website sales.
Classes are finished for today. It is time to head to the cafeteria and then off to the library to study. We have some big tests tomorrow.....
