Curriculum
A total of 36 credit hours of graduate coursework and a minimum GPA of 3.0 are necessary for completion of the Welch MBA program for candidates who are waived from the foundational coursework. Those who are not waived will need up to nine additional credit hours of foundational coursework.
Concentrations
Accounting | Artificial Intelligence | Business Analytics | Digital Marketing | Finance | Healthcare Administration | Innovation Management | Management
Foundation Courses
Must be taken unless waived. Waivers are granted by the program director based on educational or professional background.
This course employs extensive use of data and statistical methods to support and improve organizational decision-making. Topics include data visualizations, descriptive statistics, probability distributions, sampling, confidence intervals, hypothesis testing, regression analysis, and the use of computer software for statistical applications. The primary focus will be on the flexibility of the analysis, and the ability to present the results in an intuitive and understandable manner for greater organizational impact. The ethical issues related to big data will also be discussed.
Basic concepts and analytical techniques from micro- and macro-economics, including supply and demand, price determination, market structures, fiscal policy, the monetary system and policy and international trade.
Using a framework of managerial roles and competencies, this course explores what management involves, how it affects people within an organization, why it is critical to the effective functioning of an organization, and how the accomplishment of management functions may vary in different cultural contexts. The course surveys competencies and knowledge necessary for successfully facing current challenges in the rapidly changing global business environment.
Quantitative Competencies
Students without these competencies must take the courses before the Core. Students with strong quantitative competencies may substitute approved AC or FN electives and take at any time during the program.
Provides an introduction to both accounting and information systems with a focus on the preparation and interpretation of financial statements and the effective planning, implementation, and integration of information technology.
Provides an introduction to three key areas in finance-financial markets, financial management, and valuation-focusing on how capital is effectively raised and invested in a value-based management framework. Topics include: analysis of firm performance using financial ratios and other measures, techniques to assess new opportunities including new product lines, projects or corporate investments, an introduction to global capital markets, the relationship between risk and return, determinants of a firm's cost of raising capital, and the basic factors impacting the value of financial securities.
Business Competencies
This competency-based course will provide students with a solid understanding of the fundamental theories and principles in key business disciplines and will provide students with business skills to perform in a modern business organization. Upon successful completion of this course, students will demonstrate competencies in business writing, business presentation, design-thinking, and talent management.
Many firms worldwide demonstrate that operations and supply chains can be effective weapons for building and sustaining an organization's competitive advantage. This course addresses the key operations and supply chain issues with strategic and tactical implications. The course will cover manufacturing, service, business, nonprofit, and government organizations in this course. It will focus on five major decision areas: process, quality, capacity, inventory, and supply chain
Leadership Competencies
Leaders and managers at all levels in organizations must influence others to enable achievement of the organization's objectives. Leading and influencing with integrity requires understanding of one's self, other people, the situational and cultural context, as well as both current and future impacts of actions taken. Through course learning experiences students develop individual and organizational strategies to influence others, shape culture, manage change, negotiate, and facilitate employee engagement and performance so that their organizations can contribute to society in ways that are effective, responsible, and sustainable.
Sustainable organizational practices require managers to pay attention to the economic, environmental and social impact of organizational strategies and actions. This course focuses on ethical and legal issues that organizations and individual managers face in achieving triple bottomline sustainability. Ethical decision-making frameworks provide principles for dealing with challenges posed by technology, globalization, and societal changes and for fulfilling personal as well as corporate social responsibility. Legal topics survey business regulation and processes, forms of business organizations, intellectual property, and commercial transactions.
Integrated Core
Prerequisites: WGB 602, WGB 603, WGB 604 and WGB 605
Organizational success relies on effectively leading and managing holistically across many disciplines. This course takes a process-based approach to integrate fundamental knowledge of Marketing, Finance, Accounting, Supply Chain Management, Information Technology, International Business, and Human Resource Management based on a Strategic Management platform. Classroom discussions are team taught with multiple professors, senior professionals, and experts using real-life business simulations.
Prerequisite: Pre-req: WGB-602, WGB-603, WGB-604, WGB-605
Capstone
Should be taken as one of the last two courses in the students' program of study, and after students have successfully completed the breadth and integrated core courses and completed their action learning project.
This is the capstone course of the MBA program. Through the action-learning consulting project, cases, readings, and experiential exercises, students hone their management skills and make presentations to business practitioners, non-profit executives, and faculty. Seminar topics cover corporate strategy, leadership, and sustainability. Students prepare a personal and professional self-development plan.
Prerequisite: Take WGB-650
This course explores the essentials of providing relevant and useful cost and managerial information to both multinational and domestic corporate managers. Ethical aspects of each of these areas are examined. Much of the classroom interaction comprises written assignments, case studies, and team presentations.
Prerequisite: Take WGB 602
The basic considerations of controllership and budgeting are set forth and analyzed, and the importance of business planning and control is emphasized from a management perspective. Emphasis is on budgeting practices and theory as a tool for profit and control.
Prerequisite: Take WGB 602
This course examines current financial reporting and disclosure practices. Emphasis is on development of the ability to analyze financial statements to evaluate the current financial condition of a firm and assess its future trends. Topics include the use of various ratios to analyze income statements, balance sheets, and funds flow.
Prerequisite: Take WGB-602
Prerequisite: Take WGB-602
Emphasis is on the usefulness of accounting information in financial markets through the study of the accounting conceptual framework. Analyses include the standardsetting process, asset valuation, and income determination. Examines accounting policies, ethical issues, FASB financial accounting rules, and the impact of international accounting policies, all with a focus on application to current issues.
This course covers the essential elements and model areas of Artificial Intelligence and the application of AI in business.
This course equips students with the ability to use AI and ML principles and algorithms, which they have learned in previous semesters, to solve a business challenge or problem of their choice. The chosen topic or problem must be approved by the instructor. This course specifically equips students with the requisite technical expertise and tools, including no code or low code solutions, to effectively address a business challenge in a data-driven way.
The impact of AI on innovation is not just in its technological advancements but also in its ability to reshape industries, economies, and societal norms, underscoring the importance of navigating its development and application responsibly. AI is contributing to the creation of entirely new categories of products and services, such as autonomous vehicles, smart home devices, and personalized content recommendations, enhancing consumer experiences and creating new markets. However, the integration of AI into innovation processes also presents challenges, including ethical considerations, the potential for job displacement, and the need for regulatory frameworks. As AI becomes increasingly sophisticated, ensuring that innovation remains human-centered and benefits society as a whole is crucial.
Foundational principles making computers learn, plan, and solve problems autonomously; and driving modern intelligent agents on real-world applications for contemporary problems, such as deep learning, data flows, and autonomous driving.
This course introduces the field of business analytics by covering statistical and quantitative methodology for data analysis and managerial decision-making. Some of the topics include regression, forecasting, risk analysis, simulation, linear programming, data mining, and decision analysis. The course will emphasize on conducting analysis in a spreadsheet environment including XLMiner and Tableau.
This course covers the concepts and design for Relational Database Management Systems (DBMS)and the Structured Query Language (SQL)needed to define and manipulate data. Students will learn the concept of database and data structure, data warehouse, and data mining. They will also learn how to create conceptual, logical and physical designs of relational databases. We will use a Microsoft Access database to design the entity-relationship diagrams(ERD)and implement a working database. The course covers methods for adding data, updating data, extracting data, reading producing readable output, and creating and manipulating tables and creating and managing constraints using SQL.
As organizations fully embrace a digitally-led, experience-driven economy, the lines between design, technology, and business have blurred more than ever. It's important for us to understand where they come together and learn how we as digital marketers can build our own foundation for using it to create compelling digital experiences that drive demand for brands. In this course, students will be taken on a journey through the modern web design process with the goal of giving students some hands-on design experience and a practical understanding for how to approach websites using modern-day marketing strategies
This course explores how firms analyze market opportunities; select target markets; develop the marketing mix (product, price, place, and promotion); plan, manage, organize, and control the marketing resources throughout an enterprise; deal with competition; and extend marketing to the global marketplace.
This course explores the tools and techniques used by marketers to analyze customer behaviors. It examines databases, analytics, metrics, software, and techniques applied by marketers to transform data into useful formats for the strategic decision-making process. Contents focus on technology tools for segmentation, target marketing and positioning, media selection, market share and estimation, sales forecasting, and other analyses. This course explores the use of machine learning algorithms in the developing of marketing models related to consumer segmentation, market basket analysis, customer lifetime value, predictive marketing, consumer choice, and pricing.
Prerequisite: Take MK-661, MK-670
Examines the rapidly evolving dynamics of digital marketing. Emphasis is on consumer behavior and opportunities, problems, tactics, and strategies associated with incorporating digital methods into the marketing function. Internet and mobile marketing tools such as search engine marketing, social media, and viral marketing are addressed.
This course explores how companies assess marketing performance. It is a survey course covering a variety of return on investment metrics for marketing investments. The course introduces formulas and ratios used to gauge customer profitability, product portfolio mix, and advertising and web spending effectiveness. Attention is drawn to links between finance and marketing.
This course will present a practical approach to the process of decision-making using big datasets as a result of acquired or aggregated data.
Prerequisite: Take MK-661, MK-670
This course provides the practical knowledge and insights required to define objectives and strategies of social media marketing, identify and properly select the social media tools to engage consumers and effectively evaluate and measure the results of a firm's social media strategy. What is Search engine optimization (SEO) and giving a deeper understanding of the concept.
The course in digital advertising will cover a gap between traditional advertising and digital advertising, including mobile, Internet, viral media, paid and unpaid advertising. This course goes beyond using web metrics for advertising but instead focus on creating a unified advertising proposition that can be delivered in Omnichannel.
This course provides an understanding of customer experience management, as a collection of processes used to measure customers' interactions between customers and the organization throughout the customer lifecycle.
Prerequisite: Take MK-661 MK-670 MK-674;
This course explores in-depth coverage of one digital marketing topic from an applied perspective. The topic is examined from a company's point of view with multiple examples from industry. Students work hands-on to learn what practitioners do within the topic on a day to-day basis. Topics rotate throughout trimesters.
This course examines corporate finance topics including working capital management, financial analysis, leverage, capital structure, capital budgeting, and valuation. Emphasis is on creating financial models to analyze issues.
Prerequisite: Take FN-660 or WGB 603
This course describes the various theories of investments, the limitations of those theories, and the various types of investments available to individual and institutional investors globally, together with their potential returns and risks. The range of alternative investments is covered as well as newer ways of trading securities (e.g., high frequency trading, front running, and dark pools). Students are also required to establish and track three separate portfolios and write a research paper on an ethical aspect of the securities market.
Prerequisite: Take FN-660 or WGB-603;
This course features a study of financial management concepts and techniques applied to international operations. Topics include foreign currency spot and forward trading, exchange rate systems and determination, country risk assessment, taxation and regulatory issues of non-U.S. markets, and sources and uses of funds for multinational corporations.
This course develops the student's ability to evaluate securities in the context of a portfolio. Topics include: portfolio construction rules based on risk and return goals, valuation measures, and risk-reduction techniques using derivative products.
Prerequisite: Take FN-660 FN-663
Examines the role of each of these strategies as part of the whole restructuring process faced by corporations in their attempt to compete and grow in the United States and abroad. Emphasis is on each method's strategic and financial advantages. Group analysis of cases and computer applications are utilized.
Prerequisite: Take WGB-603
Featuring an overview of derivative securities and their use in corporate strategy and risk management, this course employs quantitative methods to analyze, design, price, and use derivative instruments in a managerial context. Basic derivative contracts such as forward, futures, options, and swaps are covered, as well as the pricing of these claims, arbitrage, and hedging in these markets. Students apply the analytical models to real-life situations through case studies.
Prerequisite: Take FN-660 or WGB-603
This course is designed to enable students to understand the laws, regulations, and reporting requirements necessary for financial firms to do business in the United States. It will also serve as an introduction to a career in compliance.
Prerequisite: Take WGB-603
Introduces the student to the business of healthcare at both an industry and individual business level. Includes department design, management of capital and operating budgets, budget planning process, strategic planning, and concepts necessary for the preparation and interpretation of financial statements. Additionally, the vendor identification and selection process as well as contract management will be discussed as it pertains to the healthcare environment.
Prerequisite: TAKE HINF 501
Health care organizations face numerous challenges, including rising costs, increasing complexity, and quality issues, all while confronting an increase in demand for limited resources. This course examines the operations of the entire healthcare organization and its management, including the role of strategic planning and governance, clinical and nonclinical support services, quality improvement, environment-of-care and facilities management, personnel and staffing, finance, information technology, and marketing.
Leaders and managers at all levels in organizations must influence others to enable achievement of the organization's objectives. Leading and influencing with integrity requires understanding of one's self, other people, the situational and cultural context, as well as both current and future impacts of actions taken. Through course learning experiences students develop individual and organizational strategies to influence others, shape culture, manage change, negotiate, and facilitate employee engagement and performance so that their organizations can contribute to society in ways that are effective, responsible, and sustainable.
This course will focus on the intersection of Information Technology and Business. Students will develop a basic understanding of modern technologies including Cloud Computing, Blockchain, Artificial Intelligence, Internet of Things. The course emphasis will be on how businesses are leveraging these technologies to innovate: creating new customer experiences (on-line shopping), improving operational efficiencies (logistics track & trace), and developing new business models (ride-share applications). The course will also utilize a "hands-on" experiential workshop to learn the "Design Thinking" methodology that organizations leverage to create innovative, user-centric products and processes.
This course will focus on the innovation lifecycle and the use of data as part of the innovation process. Today, corporations view innovation as a never-ending process in all aspects of their businesses as we transform to a digital society. Case studies related to actual innovations will be utilized and students will then apply the principles to their own project.
Successfully introducing products utilizing new, innovative technologies requires that managers take a different strategic perspective than is typical for products based upon mature, well-understood technologies. This course will examine the branding, promotional, sales and marketing challenges that a firm introducing an innovative technology must recognize and address to avoid launching products that do not meet commercial expectations. These differences will be examined in the context of traditional marketing principles, complemented by several examples of innovative, technology-based products that were victims of these differences or that successfully overcame the challenges.
This course examines strategies and techniques for successfully introducing and managing change in organizations. Explores power, influence, leadership, motivation, and communication in the change process, as well as organization development, organizational learning, and innovation management. Student teams develop a framework for recognizing factors that influence change and a process map to manage change effectively.
Negotiation is the art and science of securing agreements between two or more interdependent parties. Hence, the purpose of this course is to develop an understanding of the psychological and strategic dynamics of negotiation. The course is grounded in the major concepts and theories of bargaining, negotiation, and mediation and is designed to use a combination of simulations and analysis to build one's own personal experience in the classroom and in the real world.
This course describes the scope of international business and studies multinational enterprises in light of cultural, historical, political, and economic factors. Trade theories are examined in the context of international economics and finance. The focus then turns to the management of global operations, from initial entry into international markets to strategy development for the multinational enterprise.
This course explores a variety of current issues and emerging trends affecting global business, utilizing a cross-disciplinary approach to the management of today's global enterprises.
Prerequisite: Take WGB-521;
Strategic Human Resource Management Electives
This course examines strategies and techniques for successfully introducing and managing change in organizations. Explores power, influence, leadership, motivation, and communication in the change process, as well as organization development, organizational learning, and innovation management. Student teams develop a framework for recognizing factors that influence change and a process map to manage change effectively.
This course focuses on the role of the contemporary human resources function in organizations. Emphasis is on analysis of policies related to the organizational life cycle from hiring through termination, workforce and succession planning, compensation and benefits, career development, labor relations, and employee training. These concepts are discussed in light of working with and managing a multicultural workforce.
Negotiation is the art and science of securing agreements between two or more interdependent parties. Hence, the purpose of this course is to develop an understanding of the psychological and strategic dynamics of negotiation. The course is grounded in the major concepts and theories of bargaining, negotiation, and mediation and is designed to use a combination of simulations and analysis to build one's own personal experience in the classroom and in the real world.