Course Details
Country:
Japan
Institution:
Waseda University
Course Title:
Management and Complexity 1
Course Number:
MANX481L
Course Description:
Managers today operate in a very challenging business environment. Rapid technological change in areas from AI to digitization, environmental factors like climate change and health issues such as pandemics, to name but a few important challenges, make developing effective business strategy difficult. Much of the challenge stems from the complexity of the world in which we live. It is composed of many different elements—including people, machines, natural ecosystems, governments to name but a few. These elements are interconnected, interacting with each other over time, changing both the environments in which they interact as well as themselves. Businesses are are also complex—they are self-organizing, nonlinear, feedback systems. Limitations in our ability to understand how implications of decisions can emerge and unfold over time can complicate our ability to understand how effectively current business designs and decisions are producing intended results. The reality of a complex world means there can be no “best” strategy or decision for a business under all circumstances. Unfortunately, many of the tools we learn in studying management do not sufficiently account for the complexity of the world, substantially reducing their effectiveness in helping promote desired business outcomes. The purpose of this course is therefore to familiarize students with the complexity characterizing the modern world and with management frameworks and research for addressing those challenges in order to position them to make more effective business management and strategy decisions in the contemporary global business environment.
The course begins by introducing the concept of complexity and its relevance to natural and social systems. We then apply this understanding to several prominent management and business strategy challenges that result from complexity. Because standard tools and frameworks are often insufficient in complex contexts, we will also study modified and contemporary management and strategy frameworks for managing under uncertainty.
Complexity is inherently a difficult concept for the human mind to understand. To facilitate student learning, we therefore make extensive use of computational simulation modeling techniques to explore important concepts and derive management strategy implications from the models. Students will also participate in group simulation exercises to experience how individual and business decision making can produce aggregate business and social outcomes. These experiences will enable students to better understand important dimensions of complexity and how to use that knowledge toward development of business strategy.
Language:
English
Approved Equivalent:
Pending For Approval
Attachment Files:
MAC.pdf
