Friday, July 28, 2006

Golden Words
Some golden words from the Professors in stage 1 of the program:

Microeconomics
Dr Marc Siscart :

'While it is important to know what works for other businesses, it is more important to know WHY it works forthem. If you don’t know why it works for them, you don’t know whether it will work for you, given the differences in industry and market conditions, time period.."

Individuals who want to maximize profits often are considered self interested,a quality that many people view as undesirable. However, consider AdamSmith’s classic line from the Wealth of Nations: "It is not out of the benevolenceof the butcher, the brewer, or the baker, that we expect our dinner, but from theirregard to their own interest." Smith is saying that by pursuing its self-interest - the goal of maximizing profits - a firm ultimately meets the needs of society. If you cannot make a living as a rock singer, it is probably because society does not appreciate your singing; society would more highly reward your talents in some other employment..

Business Statistics
Prof. Ian Glew:

"Three key aspects for doing well in an exam- Competence, Confidence and Coverage ( of material) .Work on each of them and you will do well. "

Organizational Behavior and Human Resources
Dr Jana Raver:

"Employees will not hold a manager responsible for what an organization could not do. The employees will hold the manager accountable for what he could have done but chose not to do.!"

Performance = Ability + Motivation


Business Strategy:
The course expanded my thinking....We discussed cases that made me think about various aspects of strategy. We have this course running into 3 stages...Something that I will truly enjoy.

Stage 1
1: Importance of Strategy: Honda Case Study
2.Organization Mission, Culture and Strategy: Johnson and Johnson Case Study
3.The General Manager and Strategy: Paul Levy Case Study
4. Industry Analysis: Rober Mondavi (Wine) case study, Crown and Cork Case Study
5. Competitor Analysis: Cola Wars Case Study

To be done in Stage 2:
6.Competitive Advantage:Wal-Mart Case Study
7.Cost Based Strategies:Dell Case Study
8.Differentiation Based Strategies:Intel Case Study
9.Vertical Integration:Sensormatic Electronics
10.Case StudyDiversification and Corporate Strategy:Newell Case Study

Macroeconomics:
Dr Peter Sephton:
"At the end of the course,you will be able to speak intelligently on various macroeconomic issues.You will be able to know how the aggregate economy behaves, and see how government policies can or cannot be used to acheive the objectives set by policymakers. These objectives change over time as our understanding of the economy evolves, and as political and social norms adjust to our changing society."

Financial Accounting:
The professor Prof John Moore makes the subject look so simple. Only thing I needed to do is work on more home work questions.Prof Joh Moore is one of the best professors at Queen's MBA program and his knowledge of Financial accounting is an asset to the Queen's MBA students.

Management Accounting
Dr Clinton Free:

-In The Aims of Education and Other Essays, Alfred North Whitehead said:
"Whatever be the detail with which you cram your students, the chance of their meeting in after-life exactly that detail is almost infinitesimal; and if they do meet it, they will probably have forgotten what you taught them about it.
The really useful training yields a comprehension of a few general principles with a thorough grounding in the way they apply to a variety of concrete details. In subsequent practice the students will have forgotten your particular details; but they will remember by an unconscious common sense how to apply principles to immediate circumstances."

-The course focuses on the use of accounting concepts and analytical techniques to provide information for managerial decision-making in organizations.
The main topics in the course are the nature and behaviour of costs, types and uses of costing systems, budgeting, management control systems, measuring and rewarding performance, pricing and organizational learning. This course is thus highly relevant to all of
you who aspire to careers in management or management consulting – whether or not you intend to pursue accounting or related financial management roles.
The organizing theme in the course is relevancy: to provide managers with the information and tools they can use to make better decisions and to control their organizations. "

2 Comments:

At 11:48 AM, Anonymous Anonymous said...

Great post Biswa! Looking forward to seeing your posts on learnings from Stage 1.

 
At 2:51 PM, Blogger aliya seen said...

This is great information for students. This article is very helpful i really like this blog thanks. I also have some information relevant for
accounting homework help.

 

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