BUS 59000 - Strategic Management of Complex Adaptive Systems

This course introduces a variety of contemporary strategy theories, frameworks, and methodologies to help students strategically manage organizations as complex adaptive systems. Significant attention is given to develop students’ understanding of complexity science, including the nature and dynamics of complex adaptive systems, and to use this understanding in the strategic management of organizations of all types and at various systemic levels. The course will also use the tools of industrial economics, microeconomics, financial analysis, data analysis, marketing research, and mathematical game theory to examine the strategic decisions that managers make, focusing on the interaction between industry structure, an organization’s dynamic capabilities, and the sources of competitive advantage. Systems thinking and systems dynamics will be employed to understand the designed and the emergent interactions between individuals, organizations, markets, and systems beyond markets. Individual and organizational learning skills will be enhanced to enable continuous strategic adaptation to internal and external change.

Preparation for Course
P or C: BUS 60101, BUS 60001, BUS 57000, BUS 56000, BUS 55200, BUS 54202, BUS 54201, BUS 54200, and BUS 54001.

Cr. 3.
Notes
You must be admitted to the MBA program or secure approval from the department before enrolling in any graduate-level business or economics course.

Student Learning Outcomes

1. Discuss a variety of contemporary strategy theories, frameworks, and methodologies that can be used to strategically manage organizations as complex adaptive systems.
2. Understand how complexity science and the nature of complex adaptive systems affects the strategic management of organizations.
3. Use effective research skills to gather relevant data and information about an organization, its industry, its market, and the broader systemic factors influencing it.
4. Analyze strategically an organization’s competitive position, its long-term direction, its internal resources and dynamic capabilities, and its best options to improve its competitive advantages.
5. Employ critical thinking skills, systems thinking and systems dynamics skills, and individual and organizational learning skills to strategically manage complex adaptive systems.
6. Apply concepts and practices studied in this course to the student’s life and work experience.