MBA Required Curriculum

(FIRST YEAR)

The Entrepreneurial Manager

In order to “educate leaders who make a difference in the world,” the Harvard Company School has actually constantly had basic management as its core instructional arranging framework. The Required Curriculum has historically had a core course in general management and The Entrepreneurial Manager (TEM) supplies an effective context in which to discover general management. TEM seeks to build the knowledge, skills, and attitudes required to prosper as an entrepreneurial supervisor. The knowledge, skills, tools, and structures that TEM establishes are built upon the structure of your other RC courses including TOM, LEAD, LCA, FRC, Marketing, Strategy, and Financing, integrate those lessons into an overall framework, and help general managers at all types of companies (e.g., little companies, big companies, non-profits, and public servants) end up being more reliable at improving the value of those organizations.

HBS teacher Ken Andrews explained three roles for the basic supervisor: [1]

• Setting strategic instructions by taking into consideration external opportunities and threats, the availability of internal resources relative to requirements, the goals and worths of senior management, and commitments to stakeholders and society. In the context of TEM, this idea permeates our first module: Defining and Establishing business Model.
• Creating organizational structures and procedures that allocate duties, promote cross-functional integration, recruit/develop/promote staff members, get crucial resources and funding, and budget/monitor monetary efficiency. Andrews' 2nd core idea sets the stage for our 2nd module: Resourcing business Design.
• Leading the company by: 1) making tough tradeoffs when setting strategy, fixing cross-functional dispute, and making hiring/firing decisions; and 2) communicating a vision that motivates employees and protects commitment from other stakeholders. Effectively thought about, this final function of basic management results in our 3rd module: Running the Business Design.

For a lot of you, your careers will progress in the setting of small, entrepreneurial firms. More than half of HBS graduates become business owners at some point in their professions. Recent surveys covering HBS MBA show that 30% of alumni currently work in a company that they founded, 46% have launched at least one business in their careers, and 31% intend to start a company in the future. Amongst the founders, 36% introduced their business at the school or within 4 years of graduation, 34% became founders 5-14 years after leaving HBS, and the balance started companies 15+ years after graduation.

But studying startups and small firms conveys effective lessons about general management for those pursuing careers in other contexts too. We will see that entrepreneurial supervisors in large business along with the general public sector advantage simply as much as a small company's creator from the lessons we will check out. Examining small companies allows us to more totally understand decision-making and incentives at a much deeper level. Unlike executives in large, recognized corporations, founders do not acquire a technique; they should develop one. Also, a start-up has no organizational structure or processes; its creator needs to create them. Lastly, start-ups challenge a demanding environment. Unpredictability is high; resources are constrained. We will find that in TEM, the attitudinal orientation, decision-frameworks, and actions can assist managers at all firms improve the exploitation of worth increasing chances.

Entrepreneurial managers typically deal with an environment in which the importance of general management is vital. In the face of such difficulties, entrepreneurial managers need to have a predisposition for action. TEM teaches you how to disintegrate such complex circumstances, recognize critical choices confronting the business, and make high-risk/high reward decisions with minimal information.

MBA Elective Curriculum

(SECOND YEAR)

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