Syllabus

The course utilizes lectures, case analyses, and independent reading. The readings are primarily drawn from theoretical and empirical economics, and from research in technological change and organizational theory. The case studies provide an extensive opportunity to integrate and apply these abstract tools in a practical, business policy context.

Grades will be determined by Class Participation and a sequence of approximately weekly two page papers. These papers can be written either individually or in groups of two or three: details are provided below.

Taking 15.912 requires a solid grounding in microeconomics and the fundamentals of strategy. You should also have taken - or be taking - 15.903 "Organizations and Strategy." The material developed in 15.903 is fundamental to the topics that are tackled in the second half of the class. If, for example, you do not know what is meant by the problem of "paying for P and hoping for Q" (and have no interest in learning) you should not take this course.

Class attendance and participation           25%
Weekly "2 pagers"                                    40%
Final Paper                                                35%

This is not an easy course, since it provides an in depth introduction to a complex subject. Cutting class will affect your grade - and, more importantly, - your own and your classmates' experience in the class. If you do miss a session, it will be your responsibility to find out what materials were covered, what assignments were made, and what handouts you missed. If you miss more than one session without warning me in advance it will severely impact your class participation grade. Class participation, in contrast, will be graded on the basis of quality, not quantity. You should not feel compelled to speak every class. Interesting questions "count" as much as interesting answers.

During the first half of the semesters I will ask you to write a very brief (no more than two or three pages) paper every week. The weekly papers should illustrate the application of one or more of the frameworks developed during the previous week to an industry of your choice. All the weekly papers should be about the same industry or firm: you should see me if this proves to be impossible. The papers should be one to two pages in length and can be completed either individually or in groups of two or three.

Except one. You may miss a single week without affecting your grade. (Or you can write a paper every week and I will drop the weakest paper from your grade calculation.)

The final paper should illustrate the application of one or more of the frameworks developed in the class to an industry or firm of your choice. Under general Institute Policy, I may not give extensions to this deadline. It should be roughly ten pages in length and can be completed either individually or in groups of two or three. You do not have to write your final paper with the same people (or about the same industry) with whom you wrote your "2 pagers", but you may if you wish. My goal is to support you in writing about a topic that interests you.

Previous titles have included:

The future of fuel cells -- What happened to GO?-- Structuring Corporate Research at Otis Elevator -- Seiko-Epson's Message Watch in the Taiwan Market -- Iridium LL: A technology strategy for global satellite technology -- Red Hat and Linux: The battle for a standard.

Group work is not only acceptable but actively encouraged. Indeed, particularly given the size of the class, I would strongly recommend that you form a study group with a few friends who can meet to discuss the readings before each class. My experience suggests that this will significantly increase both your enjoyment of the course and the amount that you find yourself learning.

0. Introduction.
I. Creating Value: Patterns of Change in Technologies and Markets.
II. Capturing Value: Understanding Competition.
III. Delivering Value: The Dynamics of Organizational Competence.
IV. Technology Strategy in Practice.
V. Wrap Up.