Kenan–Flagler Business School

www.kenan-flagler.unc.edu

DOUGLAS A. SHACKELFORD, Dean

Professors

Sridhar Balasubramanian, Marketing

Barry L. Bayus (131) Marketing Research, Technology Changes, Product Management

Richard A. Bettis, Strategic Management, Global Competition, Technological Innovation, Strategic Change

Edward Joseph Blocher (61) Auditing, Management Accounting

Gregory W. Brown (7) Asset Pricing, Capital Markets, Derivative Securities, Investments, Mutual Funds, Risk Management, Corporate Hedging

Robert M. Bushman, Information Economics, Corporate Governance, Executive Compensation, Organizational Structure

Jennifer S. Conrad (107) Market Constraints, Stocks and Options

James W. Dean (158) Quality Management, Strategic Decision Making, Organizational Cynicism

Jeffrey R. Edwards (160) Person-Organization Fit, Work-Family Issues

Paolo Fulghieri, Finance

John R. M. Hand (126) Financial Accounting, Capital Markets, Market Efficiency

David James Hartzell (16) Mortgage Bank Securities, Real Estate Investment, Finance

David A. Hofmann, Management

James H. Johnson, Diversity, Entrepreneurship–Minority, Ethnic Conflict, Management, Small Business–Minority, Urban Economics, Venture Financing, Welfare Reform

Walter Steven Jones, Business Education

Wayne R. Landsman (58) Financial Reporting, Capital Markets

Mark H. Lang (142) International Accounting and Finance, Corporate Disclosure Policy, Earnings, Stock Price Issues

Christian Lundblad, Finance

Ann E. Marucheck (21) Production/Operations, Technology and Innovation Management, Distributions Systems Design and Management, Engineering Management

Edward Maydew, Accounting, Taxation, Corporate Tax Planning, Mergers and Acquisitions–Tax Aspects, Economic Effects of Tax Changes

Atul Nerkar, Strategy and Associate Dean of the EMBA program

Hugh M. O'Neill (131) Corporate Strategy, New Ventures, Turnaround Situations

William Daniel Perreault Jr. (62) Industrial Marketing, Marketing Research Methods, Marketing Strategy

William P. Putsis, Marketing

David J. Ravenscraft (10) Mergers, Takeovers, Sell-Offs

Albert H. Segars (152) Telecommunications Management, Impact of Technology, Corporate-Level Planning for Information Technology

Douglas A. Shackelford (101) Taxes, Business Strategy, Performance Measurement Systems

Anil Shivdasani (35) Corporate Boards of Directors, Corporate Finance, Corporate Governance, Finance, International Business–Finance, Mergers and Acquisitions, Organizations

J.B. Steenkamp, Marketing

Jayashankar M. Swaminathan, Operations, Technology and Innovation Management

Harvey M. Wagner (64) Management, Modeling

Valarie Zeithaml (169) Service Quality, Services Marketing

Associate Professors

Jeffery Abarbanell, Financial Statement Analysis, Analyst Forecasting, Valuation, Accounting in Transition-to-Market Economies

Christopher Bingham

Richard Stanley Blackburn (81) Organizational Behavior, Organizational Research Methods, Philosophy of Organizational Science

Robert A. Connolly (127) Foreign Currency Markets, Empirical Investments, Capital Markets

Nicholas Michael Didow (15) Consumer Behavior, Marketing Research Methods, Evaluation Research

Vinayak Deshpande

Alison Fragale, Organizational Behavior and Strategy

Diego Garcia

Katrijn Gielens, Marketing

Wendell Gilland (162) Production Planning and Control, Capacity Management, Business Process Reengineering

Mustafa N. Gültekin (106) Portfolio Theory, Asset Pricing Models, Corporate Finance

Eva Labro, Accounting

Arvind Malhotra, Electronic Commerce, Knowledge Management, Interorganizational Information Technology, Supply Chain Management, Internet Business Opportunities, Internet Startups, Strategic Use of Information Technology, Virtual Teams and Communities

Jacob Sagi

Jana Smith Raedy, Accounting

Adam V. Reed, Finance

Geoffrey Tate

Assistant Professors

Larry Chavis, Strategy and Entrepreneurship

Michael Christian, Organization Behavior

Riccardo Colacito, Finance

Mariano Croce, Finance

Dragana Cvijanovic

Sreedhari Desai, Organizational Behavior

David Dicks, Finance

Isaac Dinner

Noah Eisenkraft, Organizational Behavior

Nickolay Gantchev, Finance

Isin Guler, Strategy and Entrepreneurship

Bin Hu, Operations

Lisa Jones-Christensen, Strategy and Entrepreneurship

Chotibhak Jotikasthira, Finance

Eda Kemahlioglu-Ziya, Operations

Saravanan Kesavan, Operations

Dimitrios Kostamis, Operations

Venkat Kuppuswamy, Strategy and Entrepreneurship

Tarun Kushwaha, Marketing

Nandini Lahiri, Strategy and Entrepreneurship

Anh Le, Finance

Xiaoyuan Lu, Operations

Shimul Melwani, Organizational Behavior

Adam Mersereau, Operations

Paige Ouimet, Finance

Ali Parlakturk, Operations

Matthew Pearsall, Organizational Behavior

Andrew Petersen, Marketing

Scott Rockart, Strategy and Entrepreneurship

Amin Sayedi

Bradley Staats, Operations

Gunter Strobl, Finance

Stephen Stubben, Accounting

Edward Van Wesep, Finance

Sol Wang, Accounting

Kristin Wilson

Adjunct/Clinical Professors

Tamara Barringer, MAC Program

Gerald D. Bell, Leadership, Management, Negotiation, Teamwork

Linda Carolyn Bowen (9) Financial Accounting, Taxation, Auditing

Peter Brews, Strategy

Douglas Allen Elvers (18) Production/Operations Management, Scheduling, Project Management

Pat Garner, Strategy and Entrepreneurship

Eric Ghysel, Finance

Noel Greis, Air Logistics, Aviation, Innovation, International Manufacturing, International Operations, Logistics, Manufacturing

Clay Hamner, Entrepreneurial Studies

James Harris, Finance

Patrick Hartley, Finance

Michael Hussey, Finance

Michael Jacobs, Finance

Andrew Jones, Center for Entrepreneurial Studies

Morgan Jones, Adjunct Associate Professor, Operations

Mabel M. Miguel (53) Career Development, Cross-Cultural Management, Diversity, Human Resource Management, International Human Resource Management, Distance Learning, Management

Leslie Morgan, Finance

Alan Neebe, Operations

Barry Stuart Roberts (63) Legal Studies, Business Ethics, Government Regulation

Heidi Schultz (167) Business Communication

C. J. Skender, Accounting, Auditing, Decision Making

Judy Jones Tisdale, Consumer Banking Retail Sales, Professional Communication, Sales Coaching and Development

Ronald Williams, Management

Adjunct/Clinical Associate Professors

Joseph Bylinski, Adjunct Associate Professor, Accounting

Sharon Cannon, Business Communications

Travis Day, Adjunct Associate Professor, Strategy

Tim Flood, Business Communication

Paul Friga, Adjunct Associate Prof. Strategy and Entrepreneurship

Patricia Harms, Business Communication

Claudia Kubowicz-Malhotra, Clinical Associate Professor, Marketing

Ted Zoller, Entrepreneurial Studies

Adjunct/Clinical Assistant Professors

Deborah Anderson, Center for Real Estate Development

Stephen Appold, Research Assistant Professor, Kenan Institute

Alex Arapoglou, Clinical Assistant Professor, Finance

Lynn Dikolli Adjunct Assistant Professor, Accounting

Elizabeth Dickinson, Clinical Assistant Professor, Business Communications

Courtney Edwards, Clinical Assistant, Accounting

Douglas Guthe, Finance

Corinne Krupp, Finance Trade, Antidumping Trade, Exchange Rates

Michael Meredith, Clinical Assistant Professor, Business Communications

David Roberts, Adjunct Assistant, Marketing

Carol Seagle, Strategy and Entrepreneurship

Mark Yusko, Finance

Patrick Vernon, Entrepreneurial Studies

Bill Weld, Clinical Assistant Professor, Finance

Lecturers

Alston Gardner, Entrepreneurial Studies

John Glushik, Entrepreneurial Studies

Andy Grubbs, Strategy and Entrepreneurship

Gregory Hohn, Senior Lecturer, Business Communications

Kellie McElhaney

Mark McNeilly, Marketing

Donald Marple, Management

Steve Miller, Center for Entrepreneurial Studies

Mitch Mumma, Management

David Neal, Organizational Behavior and Strategy

Shelby Pohlman, M.A.C. Program

Allen Prichard, Center for Real Estate Development

Maria Elena Rodriguez, Kenan Institute of Private Enterprise

Bob Slater, Center for Real Estate Development

Chip Snively, Sr. Lecturer, Finance

Karen Trott, M.A.C. Program

Courtney Wright, Business Communication

Professors of the Practice

Michael Jacobs, Finance

Charles Myer, Strategy

Professors Emeriti

Carl H. Anderson

Gary M. Armstrong

Jack N. Behrman

R. Lee Brummet

Dewitt Clinton Dearborn

Robert DesJardins

G. David Hughes

Thomas H. Jerdee

Jay Edward Klompmaker

Clifton Holland Kreps Jr.

Hans E. Krusa

Harold Q. Langenderfer

J. Finley Lee

Richard Levin

Richard Wolcott McEnally

Dannie Joseph Moffie

Jack Olin

John Pringle

Richard Rendelman

Benson Rosen

Aleda V. Roth

David Rubin

William S. Stewart

Junius H. Terrell

Rollie Tillman

Clay Whybark

The Kenan–Flagler Business School offers programs of graduate study leading to the degrees of master of business administration, master of accounting, and doctor of philosophy. The school is committed to providing cutting-edge, real-world business education and research. Known for its collegial, intimate environment and selective, diverse admissions, the school prepares tomorrow's leaders in business and industry.

The school pioneered the team approach to learning more than a quarter century ago and has more recently added cross-functional, entrepreneurial, and global priorities to its curriculum.

Kenan–Flagler is recognized for world-class teaching. The faculty consistently has been nationally ranked for teaching excellence, availability, and responsiveness to students and emphasis on relevant, applied research and case development. Through these efforts, the faculty constantly strives to give students great opportunities for learning.

In fall 1997, the Kenan–Flagler Business School moved to its new state-of-the-art facility located on South Campus. Building features include 18 classrooms with multimedia capabilities, a 456-seat auditorium, and a 250-plus seat multipurpose dining pavilion and activity space.

The world-class McColl Building is a hub of learning, teaching, and research. Each classroom, office, and study room is designed for maximum use and technological efficiency to support these activities. The building includes an Asynchronous Transfer Mode (ATM) backbone network providing high-speed transmissions within the school and on the Internet, ports in many rooms that allow students to connect laptops from virtually anywhere in the building, a network operating at 100 megabits per second, a computer lab with state-of-the-art multimedia workstations, and network servers that provide students with online access to a number of CDs for company research and historical financial market data.

Master of Business Administration

The Kenan–Flagler Business School's highly ranked master of business administration (M.B.A.) program provides exceptional students with the opportunity to develop outstanding functional and analytical skills and the vision of a general manager. The two-year program combines a semester of core courses spread across two modules. The core courses are taken by all students and are designed to provide a general management background, technical and analytical expertise, and exposure to decision making in all functional areas of business. During substantial part of the second semester of the first year and the entire second year, students have the opportunity to take elective courses to concentrate in their areas of professional interest.

The M.B.A, program is well recognized for shaping professionals who integrate abilities related to the science and heart of business, with the former centering on analytical and functional skills, and the latter on leadership, teamwork, and execution skills.

Application forms and a brochure containing detailed information may be obtained by contacting the Kenan–Flagler Business School M.B.A. Admissions Office, CB# 3490, McColl Building, The University of North Carolina at Chapel Hill, Chapel Hill, N.C. 27599-3490; (919) 962-3236; mba_info@unc.edu, www.kenan-flagler.unc.edu/programs/mba.

Master of Accounting

The Kenan–Flagler Business School's master of accounting (M.A.C.) program's unique approach to accounting and business education involves a challenging curriculum that integrates accounting with other business disciplines and emphasizes the application of accounting concepts to current business issues. The goal of the accounting and business courses is to create well-rounded business advisers who can compete in the international business world. M.A.C. students take a broad but balanced series of accounting courses that focus on skill development, problem solving and decision-making in business situations. The business core courses are designed specifically for M.A.C. students to emphasize accounting and business consulting skills. The program develops students' communication and leadership skills, giving them a competitive advantage in today's tight job market and enhancing their ability to succeed in the accounting profession.

The M.A.C. program is designed for candidates holding undergraduate degrees in liberal arts, sciences, business and other non-accounting disciplines. Candidates earn the M.A.C. degree in 12 months of concentrated study. The application deadlines are June 15 (for UNC business majors only), December 1, and March 1. Because admission is competitive and decisions are made on a rolling basis, applicants are encouraged to apply early.

For more information, please contact the Kenan–Flagler Business School M.A.C. Admissions Office, CB# 3490, McColl Building, The University of North Carolina at Chapel Hill, Chapel Hill, N.C. 27599-3490; (919) 962-3645; mac_info@unc.edu, www.kenan-flagler.unc.edu/programs/master-of-accounting.

The M.B.A. for Executives Programs

The M.B.A. for executives programs provide working professionals the opportunity to acquire the traditional M.B.A. degree without interrupting their careers. Kenan–Flagler offers three attendance options for completing the M.B.A. for Executives degree programs.

The evening program classes are held on Monday and Thursday evenings for 24 months. This program is best suited for professionals who live and work in the Triangle area and have careers that do not require frequent weekday travel.

The weekend program classes are held on alternate weekends (all day Friday and Saturday) for 20 months with two mandatory weeklong residencies for intensive course work. This program is best suited for professionals who travel extensively or who live too far from Chapel Hill to make attending evening classes feasible.

OneMBA® global program classes are held once a month on Friday, Saturday, and Sunday for 21 months. Most classes are held at Lansdowne Conference Center near Washington, DC and Dulles International Airport. The OneMBA curriculum integrates perspectives and best business practices from developed and emerging economies, providing students the knowledge and connections needed to accelerate their global management careers. Global residencies are held in the United States, Europe, Latin America, and Asia.

Application forms and a brochure containing detailed information about the program may be obtained by contacting the M.B.A. for Executives Programs, Kenan–Flagler Business School, The University of North Carolina at Chapel Hill, CB# 3490, McColl Building, Suite 3100, Chapel Hill, N.C. 27599-3490; (800) 453-9515; emba@unc.edu, www.kenan-flagler.unc.edu/programs/emba.

Doctor of Philosophy

The Ph.D. program in business administration is designed for individuals who plan careers in research and teaching. A limited number of students are admitted each year, resulting in a high-quality learning environment that emphasizes rigor and personal attention. Although many students enter the program with an M.B.A., this degree is not a requirement for admission. However, an M.B.A. from an accredited institution usually allows the student to waive some of the business fundamentals requirements. Prior to admission to the doctoral program, students are expected to have knowledge of elementary calculus and basic computer skills. A foreign language is not required for graduation from the program. Research and teaching assistantships are available on a competitive basis.

The requirements for the Ph.D. in business administration are:

Scholarships and Fellowships

Available to doctoral students in business administration are a number of assistantships. The school provides summer assistantships for doctoral students who receive awards from the University or the school during the academic year. Once a doctoral student is awarded financial aid, the school generally provides support for eight semesters if the student is making satisfactory academic progress.

MBA@UNC – Online MBA Program

Academics Overview

Program Format

Through the use of innovative technologies and real-world immersion experiences, MBA@UNC blends the flexibility of an online program with the rigor and quality of an on-campus experience. MBA@UNC is structured so that faculty and classmates get to know one another in ways that shape the vibrant learning community that sets UNC Kenan–Flagler apart.

World-Class Faculty and Curriculum

MBA@UNC leverages the same world-class faculty who teach in UNC Kenan–Flagler's other top-ranked MBA programs, and the curriculum is based on the curriculum delivered in those programs.

MBA@UNC is designed to provide aspiring leaders with the strong general management and leadership curriculum required to propel them to the next level in their careers. Following a foundation of required core courses, MBA@UNC students can customize their studies by concentrating in one of six business disciplines.

Innovative Approach to Distance Learning

Each course is designed and delivered by a UNC Kenan–Flagler professor and requires:

Kenan–Flagler Business School, The University of North Carolina at Chapel Hill, 1210 Environ Way, Chapel Hill, N.C. 27517

Phone: (888) 9UNC-MBA [(888) 986-2622]; OnlineMBA@unc.edu

Courses for Graduate and Advanced Undergraduate Students

BUSI

401 Management and Corporate Communication (3). Open to business majors. Writing- and speaking-intensive course that emphasizes professional communication. Provides opportunities to learn and apply the conventions and expectations for standard business documents and presentations. Features strategies for addressing informative, persuasive, and bad-news messages using a variety of media (print documents, electronic messages, and oral presentations).

403 Operations Management (3). Analysis of the operations functions in both manufacturing and service organizations. Formulating operational policies that improve efficiency and support high-level business strategy. Developing remedies that mitigate uncertainty and variability in operational processes.

404 The Legal and Ethical Environment of Business (1.5). An introduction to the legal system and an examination of ethical issues that affect business.

405 Leading and Managing: An Introduction to Organizational Behavior (3). An introduction to leading and managing in organizations. Examines the impact of individual, group, and organizational factors on organizational performance and employee attitudes. Topics include leadership, perceptions, attitudes, motivation, group development, norms and cohesiveness, empowerment, conflict, negotiations, culture, structure, stress, innovation, and change.

406 Marketing (3). Introduction to marketing with emphasis on the social and economic aspects of distribution, consumer problems, marketing functions and institutions, marketing methods and policies.

407 Financial Accounting and Analysis (3). Students will acquire the tools to understand and analyze information presented in corporate financial statements. Financial accounting results and projected results are utilized in virtually every segment of the business world. Knowledge of financial accounting and analysis is necessary for managers, investors, bankers, financial analysts, and professional accountants.

408 Corporate Finance (3). Prerequisites, BUSI 101 and ECON 410. Theoretical foundations of optimal financial policy. Problems and cases provide application of theory to financial decisions involving cash flow, capital structure, capital budgeting.

409 Advanced Corporate Finance (1.5). Prerequisite, BUSI 408. A follow-up course to BUSI 408 that goes more deeply into the theory and application of financial management. Emphasis is placed on investment, financing, and dividend decisions.

410 Business Analytics (3). Prerequisite, STOR 155. While witnessing an explosion of data, most organizations tend to be awash with data but short on information. This course exposes students to techniques that will help them impact on an organization's strategy, planning, and operations, working on applications spanning a number of fields, including operations management, finance, and marketing.

411 Strategic Management (1.5). Students analyze sources of competitive success in organizations using case analysis and written reports to develop analytical reasoning and strategic decision-making skills. Topics include industry analysis, business and corporate strategy, and international business.

490 Business Topics (1.5). Varied topics in business administration.

493 Business Internship Project I (3). Permission of the department. With prior approval, a student may propose and complete an academic research project (paper and presentation) derived from an internship experience.

496 Independent Study in Business (1.5–3). Permission of the department. Supervised individual study and research in the student's special field of interest.

500 Entrepreneurship and Business Planning (3). Students gain an understanding of entrepreneurship and the tools and skills necessary to conceive, plan, execute, and scale a successful new venture. Students develop business ventures in teams through an experiential pedagogy.

501 Professional Selling Strategies and Skills (3). Prerequisite, BUSI 406. Critical concepts and skills for selling products and services, and influencing others in business. Applicable to people considering sales or consulting as a career; to those thinking of starting an entrepreneurial company; or for those who want to understand how to influence peers, subordinates, and management.

502 Entrepreneurial Finance (1.5). Prerequisite BUSI 408 or 500. In this course students use financial tools and concepts in a real-world entrepreneurial setting. Working in assigned teams, students prepare a pitch book with financial projections for a company they wish to start or buy.

503 Family Business I: Introduction to Family Enterprise (1.5). Helps the student understand the evolutionary stages in the life of a family business and the challenges and opportunities that must be managed at each stage.

504 Launching the Venture (1.5). Prerequisite, BUSI 500. This is a cross-campus course for exceptional students, staff, and faculty, designed to help launch UNC–Chapel Hill start-ups. Only for students serious about launching in the next nine to 12 months. Admission by online application. More information at www.launch.unc.edu.

505 Consulting to Entrepreneurial Firms (3). Student teams engage in consulting projects to help local start-ups tackle entrepreneurial challenges. Data is collected through fieldwork, such as client meetings, customer surveys, interviews with thought leaders, site visits, product tests, and/or focus groups.

506 Venture Capital and Start-Ups (3). Prerequisite, BUSI 408. An introduction to the tools and skills necessary to recognize opportunities in high tech, biotech, and traditional start-ups. Local entrepreneurs come to class to pitch to students, who analyze the start-ups from the perspective of venture capitalists.

507 Sustainable Business and Social Entrepreneurship (3). Examines what it means to pursue business success as measured by the triple-bottom line of people, planet, and profit. Focuses on strategies that companies implement to reduce environmental impact internally and through the supply chain. Examines the responsibility of business to employees, consumers, the local community, and society at large.

508 Public-Private Development Projects (1.5). Prerequisite, BUSI 408. This course introduces students to challenges and opportunities associated with using public-private partnerships as a vehicle for meeting infrastructure and economic development needs. Students will develop an understanding of how the public and private sectors can have differing perceptions of risk, success, and effectiveness associated with such projects.

512 Family Business II: Governance and Ownership (1.5). Recommended preparation, completion of BUSI 503. Helps the student understand specific ownership, stewardship, tax, transition, and wealth management issues that affect family enterprises.

513 Innovations and Entrepreneurship in Developing Economies (1.5). Covers innovative private sector approaches to alleviating poverty around the world.

514 STAR (4.5). Pre- or corequisite, BUSI 554. Student Teams Achieving Results (STAR) is a live management consulting project that leverages and integrates UNC Kenan–Flagler course curricula. Teams of five to seven M.B.A. and undergraduate students and one faculty member work with major corporations or not-for-profit entities to solve a major strategic issue.

515 Social Entrepreneurship through Microfinance (1.5). Analyzes the role of microcredit/microfinance in global sustainable development. Students will be creating, organizing, and facilitating a sustainable microfinance initiative of their own design.

517 Private Equity and Debt Markets (1.5). Prerequisite, BUSI 408. The objective of this course is to examine the changing world of private equity investments today. This is a survey course and will help prepare you to work for private equity and venture capital funds or to work for investment banks.

518 Applied Private Equity (3). Prerequisites, BUSI 502 and 517. Permission of the instructor. Explores, at a very advanced level, all stages of the management of a venture capital and private equity fund, from capital formation, deal sourcing, due diligence, monitoring and adding value, and exiting of a portfolio company.

519 STAR–Global Business Projects (4.5). A global, live management consulting project that integrates other curricula and students (UNC and beyond). Teams of graduate and undergraduate students and one faculty member work to solve a major strategic issue. Team members participate in a three-day training weekend, virtual teaming, and two weeks of in-country project work.

520 Advanced Spreadsheet Modeling for Business (3). Primarily an online class. Use critical thinking and advanced Excel features to create spreadsheet models of common business problems. Topics include flexible design, problem-solving, statistical analysis, charting, logic, reference functions, financial analysis, organizing data for complex analysis, what-if analysis, enhanced decision-making tools, troubleshooting workbooks, and VBA.

524 Applied Improvisation for Business Communication (3). Focuses on improving students' soft skills, such as presenting, expressiveness, and interviewing, by applying the principles and techniques of improvisational theater. Participants explore creativity, adaptation, awareness, self-confidence, risk taking, physicality, intuition, and teamwork. Students can stretch their abilities and discover things about themselves and others that are crucial to success.

525 Advanced Business Presentations (1.5). Prerequisite, BUSI 401. This course is grounded in argument, persuasion, and visual rhetoric to give students skills needed to develop winning presentations. Students learn strategies to help their messages "stick" with their audiences and to develop slide decks for the boardroom and advanced media devices. The course emphasizes efficiency in presentation preparation.

526 Leadership in Action (3). Permission of the department. Provides student leaders with practical leadership frameworks and tools; creates opportunities to apply these on the job as leaders; and provides individualized coaching, feedback, and mentoring. This is an applied learning course taught by a seasoned practitioner designed to accelerate each student's development and growth.

532 Service Operations (3). Prerequisite, BUSI 403. Studies key challenges in effective service delivery through the analysis of staffing and scheduling, customer waiting, and revenue management. Case studies illustrate examples of effective service design and delivery in various service industries including professional services, banking, health care, hospitality, and entertainment. A simulation project is used.

533 Supply Chain Management (3). Prerequisite, BUSI 403. Analyzes the key drivers of supply chain performance including inventories, transportation, information technology, and sourcing. Studies strategies for supply chain coordination, and challenges and opportunities in global supply chains. A supply chain simulation is used.

534 Business Modeling with Excel (3). Provides a broad scope of analytic experience across corporate functions that is beneficial in consulting environments.

535 Global Operations Strategy (1.5). Prerequisite, BUSI 403. Permission of the department. This course examines how organizations can use their operations to build a competitive advantage. Students may not receive credit for both BUSI 535 and MBA 709A.

536 Project Management (1.5). Prerequisite, BUSI 403. Permission of the department. This course prepares students to take part in and lead projects effectively. The goal is to equip individuals across any career concentration rather than extend the expertise of project-management specialists. Students may not receive credit for both BUSI 536 and MBA 710.

537 Retail Operations (1.5). Prerequisite, BUSI 403. Permission of the department. Examines developments in retailing and operations management principles applicable to these developments. Topics: consumer behavior, demand forecasting, logistics and distribution, store execution, international retailing, Internet-based retailing, performance assessment, and impact on financial performance. Students may not receive credit for both BUSI 537 and MBA 708.

538 Sustainable Operations (1.5). Prerequisite, BUSI 403. This course explores the link between sustainability and the operations function of a firm. The course focuses on the following activities: product and process design; manufacturing; transportation; logistics and distribution; closed-loop/after-sales operations such as recycling, remanufacturing, and reuse; supply chain management.

539 Health Care Operations (1.5). Prerequisite, BUSI 403. Permission of the department. Students apply principles and tools of operations management to explore improvement opportunities in the design, delivery, and management of the health care value chain. The course examines the health care operation from the perspective of operations metrics such as cost, quality, time (access), and variety/customization.

541 Contract and Commercial Law (3). Designed to give basic instruction in law with special emphasis upon its relationship with business. Content includes many subjects tested on the business law portion of the CPA examination, including the law of contracts and the Uniform Commercial Code (sales, negotiable instruments, and secured transactions).

543 Ethics in Management (3). By examining real ethical dilemmas in business, this course will help students analyze a problem from the triple perspective of ethics, economics, and law.

545 Negotiations (1.5). Prerequisite, BUSI 405. This course enables students to develop their expertise in managing negotiations. It integrates existing theory and research with personal experiences and ideas. Using hands-on exercises, readings, and lively discussions, students build and hone their ability to understand, adapt to, and evaluate the personal, social, and situational dynamics of negotiations.

550 Introduction to Organization Theory and Design (3). Prerequisite, BUSI 405. While BUSI 405 examines the micro-level influences on organizational success, this course focuses on more macro-level influences, including environmental analysis, strategy, structure, inter-organizational relationships, control systems, culture, power, politics, and change.

554 Consulting Skills and Frameworks (3). Pre- or corequisite, BUSI 408. Permission of the instructor. The course is dedicated to teaching the core skills for success in consulting and business in general: teamwork, analysis, and presentations.

555 Groups and Teams in Organizations (1.5). Prerequisite, BUSI 405. Examines the design, management, and leadership of teams in organizational settings. Focus is on the interpersonal processes and structural characteristics that influence the effectiveness of teams, individual behavior in face-to-face interactions, and the dynamics of interpersonal relationships.

559 New Product Marketing (1.5). Prerequisite, BUSI 406. This course provides students a thorough understanding and working knowledge of state-of-the-art tools that drive marketing strategies for launching and managing new products.

560 Advertising (3). Prerequisite, BUSI 406. The organization and functions of advertising. Topics include economic and social aspects, types of advertising and advertising objectives, developing advertising messages, media selection and evaluation, advertising research.

561 Sales Management (3). Prerequisite, BUSI 406. An overview of the sales management process, including sales force planning, budgeting, recruiting, selection, training, compensation, supervision, and control.

562 Consumer Behavior (3). Prerequisite, BUSI 406. Review of conceptual models and empirical research in consumer behavior. Topics include decision processes, social and cultural influences, information processing, and ethical issues.

563 Retailing and Distribution Channels (3). Prerequisite, BUSI 406. Examines the supply chain for retail businesses and management decision making in retailing.

564 New Product Development (3). Prerequisite, BUSI 406. The course concentrates on the fuzzy front-end of the innovation process, focusing on tools and techniques to uncover consumer insights (needs). The design thinking process is emphasized as part of a semester-long team project. Other topics explored include creativity, intellectual property basics, prototyping, and Innovation 2.0.

565 Marketing Research (3). Prerequisite, BUSI 406. An introduction to research methodology with emphasis on the compilation, analysis, and interpretation of data used in the planning and control of marketing operations.

566 Marketing Strategy (3). Prerequisite, BUSI 406. The objective of this course is to understand and practice the strategic decision-making process in a dynamic competitive environment. The course builds on the foundations of marketing, and is based on lectures, cases, and computer simulations.

568 Marketing Analysis and Decision Making (3). Prerequisites, BUSI 406 and 410. Marketing analytics is a systematic approach to harnessing these data to drive effective marketing decision making. We will learn to analyze historical data, market research data, and competitive information for making strategic marketing decisions. This course will be extensively based on case analysis and hands-on exercises.

570 Financial Reporting A (3). Permission of the department. Required in spring semester for senior undergraduate business majors who are admitted to the Kenan–Flagler Master of Accounting Program. The first of two courses designed to provide students with an in-depth knowledge of the practice and theory of financial accounting.

572 Introduction to Business Taxation (1.5). Prerequisite, BUSI 570. Permission of the department. Required in spring semester for senior B.S.B.A.s who are admitted to the Kenan–Flagler Master of Accounting Program. Provides students with an initial understanding of the basic framework of the United States income tax system as it applies to businesses.

573 Global Financial Statement Analysis (3). Prerequisite, BUSI 407. Provides the tools necessary to understand and analyze information in financial statements prepared under global accounting standards. Includes a study of the costs, risks, and opportunities of United States investors and corporations regarding the convergence of United States accounting standards to global standards.

580 Investments (3). Prerequisite, BUSI 408. A survey of investment principles and practices. Emphasis is given to the problems of security analysis and portfolio management with special attention to the investment problems of the individual investor.

582 Mergers and Acquisitions (3). Prerequisite, BUSI 408. Through lectures, case studies, and guest speakers, this course will cover all aspects of mergers and acquisitions from strategy to post-merger integration with an emphasis on valuation. Related activities such as hostile takeovers, private equity deals, and international acquisitions will also be discussed.

583 Applied Investment Management (3). Prerequisites, BUSI 407, 408, 520, and 580. Permission of the department. Year-long course. A live, student-managed investment fund with real dollars and fiduciary responsibility to the UNC Foundation. Emphasis is on the decisions that must be made by and/or for the ultimate investor and the analytic tools and empirical evidence that can help inform such decisions.

584 Financial Modeling (3). Prerequisite, BUSI 408. Skill development in constructing financial models for analyzing problems with decisions faced by financial professionals. Analyzing historical performance, forecasting free cash flows, estimating discount rates, determining terminal value, identifying other sources of value, and interpreting results in a dynamic setting.

585 Introduction to Real Estate (3). An overview of residential and commercial real estate markets. The course samples many facets of real estate development, market analysis, operation, valuation and financing. Students will be exposed to the variety of skills and jobs that interact within the industry.

586 Personal Finance (1.5). Prerequisite, BUSI 408. Introduces and broadens the concept of personal finance and increases understanding of the process of accumulating and protecting personal wealth. Students learn to identify and analyze risk and return relationships, understand investment alternatives and how strategies develop as life situations mature, and gain understanding of retirement planning and effectively transferring wealth.

587 Investment Banking (1.5). Permission of the instructor and confirmed offer of investment banking analyst internship or full-time job. This course prepares students for investment banking positions and internships. The focus of the class is on financial modeling, general knowledge of banking, and what it takes to succeed in the industry.

588 Introduction to Derivative Securities and Risk Management (1.5). Prerequisite, BUSI 408. Introduction to derivative securities instruments (options, futures, and swaps) and applications to the management of stock and fixed-income portfolios and other financial and business risks.

589 Fixed Income (1.5). Prerequisite, BUSI 408. The course covers traditional bonds and term structure concepts as well as fixed income derivatives and interest rate modeling.

590 Business Seminar (3). Completion of requisite core course(s) and permission of the instructor required. Selected topics in business administration presented in seminar format with students engaged in individual and team study under the supervision of a member of the faculty.

591 Behavioral Finance (1.5). Prerequisite, BUSI 408. Completion of BUSI 409 recommended. An abundance of evidence suggests that the standard economic paradigm, "rational agents in an efficient market," does not adequately describe behavior in financial markets. This course will survey the evidence and use psychology to guide alternative theories of financial markets.

592 Quantitative Methods for Derivative Securities (3). The goal of the course is that students will be self-starters in derivative security analysis and modeling, and generally familiar with methods for valuing fixed income securities.

593 Business Internship Project II (3). Permission of the department. This course provides students with a format for reflection while performing a professional internship that enhances their ability to achieve career objectives.

594 Hedge Fund Strategies (1.5). Prerequisites, BUSI 408, and 580 or 588. Permission of the instructor. Open to seniors only. Covers the operational details of specific hedge fund strategies such as convertible arbitrage and long/short equity strategies.

598 Alternative Investments (1.5). Prerequisites, BUSI 408, and 580 or 588. Permission of the instructor. Open to seniors only. Exposes students to the benefits, opportunities, and risks of incorporating alternative investments into managed institutional investment portfolios, including pension funds, endowments, and foundations.

600 Risk Management (1.5). Prerequisite, BUSI 408. Permission of the instructor. Open to seniors only. Develops methods for applied analysis of financial and operational risk.

601 Real Estate Finance (1.5). Prerequisite, BUSI 408. This course will focus on the different ways to finance real estate property, and how different financing techniques impact the feasibility and investment benefits for equity investors.

602 Strategic Economics (1.5). Corequisite, BUSI 408. This course focuses on decision making in the presence of strategic interaction. Students will apply game theory to yield insights into business decisions. Topics covered include pricing, entry, product market competition, first-mover advantage, capital budgeting, antitrust law, corporate governance, auctions, and mergers.

603 Real Estate Development (1.5). Prerequisite, BUSI 408. This course is designed to introduce undergraduate students to the finance and economics of real estate development. The course will survey the physical products of real estate, its financial attributes, and the process by which a program of development is implemented. Includes site visits to local real estate projects.

604 Real Estate and Capital Markets (1.5). Prerequisite, BUSI 601. Provides a view of how real estate fits into capital markets. Topics include risk-return profiles of residential and commercial real estate investments, real estate as a component of well-diversified investment portfolios, derivative markets for real estate investments, mortgages and timing options, mortgage-backed securities, and markets for real estate investment trusts.

610 Global Environment of Business (3). Issues in operating overseas, including analyses of differences in country settings, legal and economic systems, and governmental policies affecting foreign operations. Studies trade theory, country groupings, and financial issues; managing operations in foreign lands; exporting.

611 International Development (3). Poverty is part of life for most of the world's population, with half living on less than two dollars a day. Course focuses on understanding this from a business school perspective. Looks at institutional failures that contribute to persistent poverty and the multiple roles managers can play in reducing poverty.

617 Global Marketing (3). Prerequisite, BUSI 406. Examination of the problems involved in marketing products and services across national boundaries. Problem issues include culture, ideology, economics, technical standards, and currency movements.

618 Global Financial Markets (1.5). Prerequisite, BUSI 408. Develops the foundation for financial decisions in a global economic environment. Extends the analytical concepts and tools learned in introductory investment and corporate finance courses to multicountry/multicurrency settings. Covers three major areas: the economics of exchange rates, international money and capital markets, and international corporate finance.

623 Global Entrepreneurship I (3). The course ranges from developing the creative mindset, ideation, development/manufacturing, marketing, selling and managing. The course places heavy emphasis on doing and collaborating rather than listening passively: 1) dream: design process, 2) think: feasibility, 3) create: product development and manufacturing, and 4) tell: marketing. Restricted to GLOBE students.

624 Global Entrepreneurship II (3). The course ranges from developing the creative mindset, ideation, development/manufacturing, marketing, selling, and managing. The course places heavy emphasis on doing and collaborating rather than listening passively. 1) sell: sales; 2) run: management, finance and fundraising; and 3) launch Chapel Hill projects. Restricted to GLOBE students.

650 Symposium Core Committee (1.5–3). Permission of the instructor. Service on the B.S.B.A. Symposium Core Committee to plan, execute, and evaluate the annual event.

653 Applied Learning: Symposium Core Committee (1.5). Permission of the department. This course is by invitation only to students who previously served on the Undergraduate Business Symposium core committee. As senior advisors, students practice the leadership, organization, delegation, communication, and teamwork skills that they learn about in their other courses.

688 Applied Derivatives (1.5). Prerequisites, BUSI 408 and 588. Real world applications of the concepts of no-arbitrage pricing covered in the introductory course will be covered. Other applications of derivatives such as portfolio insurance, the consideration of debt and equity as options, and real options.

691H Honors Research Proposal (3). Permission of the department. Open to senior business administration majors with a minimum 3.5 grade point average in business courses. Students learn business research techniques and develop individual proposals for business research. Successful proposals may advance to honors thesis research and writing (BUSI 692H).

692H Honors Thesis (3). Prerequisite, BUSI 691H. Permission of the department. Open to senior business majors with a minimum 3.5 grade point average in business courses. Original investigation of a topic in business and preparation of a substantive research project under the direction of a faculty advisor. Written essay and oral presentation are required.

Courses for Graduate Students

BUSI

701 Artistic Entrepreneurship (3).This course is a study in entrepreneurship and the specific challenges faced by artistic entrepreneurs.

702 Introduction to Social Entrepreneurship (1–3).An overview of how entrepreneurship is transforming students' fields and disciplines and how the application of principles of entrepreneurship may be used to advance their professional objectives.

703 Introduction to Commercial Entrepreneurship (1–3). A cross-disciplinary curriculum that brings together the core field with the wide-ranging literature in entrepreneurship to seek new approaches to traditional problems.

704 Entrepreneurship Capstone (1–3).Prerequisites, BUSI 701,702, and 703. Capstone project, business plan, or paper that links the work done in the certificate to the field it is intended to complement.

705 Entrepreneurship Capstone Project (1.5–3).This Graduate Certificate in Entrepreneurship capstone project is self-paced, and overseen by the faculty director of each track (life sciences, public health, and artistic).

801 Ph.D. Independent Study (1–9).Independent study intends to extend a student's learning beyond the classroom or allows a student the opportunity to explore a topic not offered in a traditional format.

808 Applied Research Methods I (3).Addresses fundamentals of empirical social science research. Topics include framing a research question, comparing research designs, instrumentation, reliability, validity, and exploratory and confirmatory factor analysis. Emphasizes application and analysis.

809 Applied Research Methods II (3).Continuation of BUSI 808. Topics include statistical control, categorical variables, interaction, curvilinear and similarity effects, longitudinal analysis, path analysis, structural equation modeling, and publication. Emphasizes application and analysis.

810 Empirical Operations (3).Required preparation, working knowledge of probability, statistics, and regression. The course prepares students to perform academic research, and it will be conducted in a manner that simulates an academic research conference. The course will focus on empirical research approaches used in solving many classical problems in operations management.

830 Theory of Operations Management I (3). Permission of the instructor. Rigorous study of traditional and modern issues, problems, and approaches in operations management.

831 Theory of Operations Management II (3). Prerequisite, BUSI 830. A continuation of BUSI 830.

832 Theory of Operations Management III (3).Prerequisite, BUSI 830. A continuation of BUSI 830.

837 Advanced Topics in Operations Management (3). Permission of the instructor. Intensive study of a specific area in operations management.

838 Seminar in Operations Management (3).Permission of the instructor. Intensive study of a specific area in operations management.

851 Individual Behavior in Organizations (3).Analysis of individual behavior, adjustment and effectiveness. Examination of attitudes, stress, problem solving, decision making, motivation and personality. Applications to management of human resources.

852 Interpersonal and Intergroup Behavior in Business Organizations (1–3). Intensive critical examination of interpersonal and intergroup behavior, including decision processes, communication, conflict and conflict resolution in large organizations.

853 Macro Organizational Behavior (3).Graduate standing in business administration required. Intensive study of theory and research in organizational structure, coordinating and control mechanisms, design parameters, and environments.

854 Organizational Design and Development (3).The development of understanding and skills in changing and evolving organizational design, interpersonal relationships, and people to achieve organizational goals.

856 Seminar in Organizational Behavior (3).Permission of the instructor. Intensive study of important current theory and research in organizational behavior.

857 Seminar in Human Resource Management (3).Review the research literature on how firms are made more effective through their people. Coverage includes topics like recruitment, hiring, compensation, socialization, culture, and performance management.

860 Seminar in Marketing I (3). Permission of the instructor. Overview of current paradigms and research in marketing. Topics include philosophy of science, differing views of what marketing is, strengths and weaknesses of various research approaches, and career socialization issues.

861 Seminar in Marketing II (3). Prerequisite, BUSI 860. Intensive study of the empirical and analytical literature involving problems in pricing, product development and management, advertising and promotion, distribution, and strategy.

862 Marketing Models (3).This class covers a range of econometric principles and models of relevance to marketing. The emphasis will be on model formulation and estimation.

865 Seminar in Current Marketing Topics (1). Permission of the instructor. Advanced research in marketing. A seminar to discuss current research of doctoral candidates, faculty, and invited guests.

867 Issues in the Design and Analysis of Research in Marketing (3). Graduate standing in business administration required. A review of major issues in marketing, including philosophy of science, measurement, and experimental and quasi-experimental design.

868 Seminar in Marketing Research Methodology (3).Permission of the instructor. An introduction to multivariate data analysis methods including factor analysis, cluster analysis, logic, discriminant analysis and multidimensional scaling.

876 Seminar in Research in Accounting (1). Permission of the instructor. An informal seminar to discuss current research in accounting.

880 Financial Economics (3).Permission of the instructor. Introduction to the theories of asset pricing.

881 Corporate Finance (1–6).Prerequisite, BUSI 880. Permission of the instructor. Introduction to corporate finance theory.

882 Empirical Corporate Finance (3).Permission of the instructor. An introduction to the empirical corporate finance literature.

885 Seminar in Research in Finance (1.5). Permission of the instructor. Advanced research in business finance and investment. An informal seminar to discuss current research of doctoral candidates, faculty, and others.

886 Introduction to Empirical Finance (3).This course provides an introduction to the quantitative methods used in empirical asset pricing. Model specification and estimation issues are discussed at length. The course emphasizes both theoretical and practical research.

887 Quantitative Methods in Finance (3).Permission of the instructor. Review of information generating and optimizing models and their applicability to decision making in finance.

888 Seminar in Financial Markets (3).Permission of the instructor. Advanced methods in finance.

890 Strategic Management Overview (3). A seminar to provide a broad and current understanding of strategic management. Exposure to the entire field is emphasized.

891 Strategic Formulation (3). Prerequisite, BUSI 890. This seminar emphasizes both process and content issues to provide students with an in-depth understanding of strategy formulation topics.

892 Strategy Implementation (3).Prerequisites, BUSI 890 and 891. This seminar focuses on strategy implementation, with particular emphasis devoted to the process, systems, and structures required for effective implementation.

899 Seminar (1–6).Permission of the instructor. Individual research in a special field under direction of a member of the department.

899C Seminar (1–21). Individual research in a special field under direction of a member of the department.

992 Master's (Non-Thesis) (3).

994 Doctoral Research and Dissertation (3).