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Medical Industry MBA (MIMB) Courses

Academic Unit: Global Initiatives

MIMB 6872 - Human Resource Management

(2 cr; A-F only; offered Every Fall)

Strategies for effective management. Analysis of cross-cultural differences in values, norms, practices. How they affect organizational behavior/performance. Implications for designing HR practices in multinational organizations/international contexts.

MIMB 6873 - Information Systems and Information Resources Management

(2 cr; A-F only; offered Every Fall)

Current/emerging technologies in modern net-enhanced organizations. Internet/Web technologies, including internet fundamentals, web communications, web 2.0/social media, information security, cloud computing, IT-driven innovation, emerging IT trends.

MIMB 6874 - Accounting

(2 cr; A-F only; offered Every Spring)

Basic principles of financial accounting, involving the consecution/interpretation of corporate financial statements.

MIMB 6875 - Management and Organizational Behavior

(2 cr; A-F only; offered Every Fall)

Organizational behavior offers a framework for the systematic study of how people behave in organizational settings and involves individual, group, and organizational characteristics that affect people and their behavior at work. In this course we consider how individual workers respond to their job and organization (attitudes and motivation), interpersonal processes and how to make them more effective (decision making, conflict management, teamwork), and the role organizational culture in shaping individual and group behavior. Topics come together as we consider how to effectively lead organizational change.

MIMB 6876 - Managerial Economics

(2 cr; A-F only; offered Every Fall)

Introduction to some parts of microeconomics that are useful for managers with attention to the circumstances that give rise to firm profitability. The first half of the course covers supply and demand, price elasticity, and market equilibrium. The second part of the course covers firms with differentiated products and market power with particular focus on pricing models such as segmentation, bundling, and two part tariffs. Pricing models involve profit maximization and associated conceptual tools. The course touches on game theory and strategic interaction among small numbers of firms and ends with a discussion of market failure and the business opportunities that they sometimes create. The course also emphasizes links to other parts of the core business curriculum. The course makes extensive reference to statistical empirical examples.

MIMB 6877 - Financial Management

(3 cr; A-F only; offered Every Spring)

This course is required for all MIMBA students because of the financial implications of decisions across all departments and disciplines in business. Managerial decisions can be broken down into two main categories: how to raise capital and how to employ capital. The decisions managers make in this context can add or destroy value. With this context in mind, the course provides students with an understanding of financial markets and the main types of securities that are issued by corporations. The course will leverage basic statistics in understanding of risk of a security as a stand-alone investment and as part of a well-diversified portfolio to provide an understanding of how risk affects required returns of investors. The course emphasizes the concept of time value of money as a basis for decision making. Managers make decisions that affect the cash flows of the firm; the course provides students with a context for thinking about forecasting cash flows, discounting cash flows, and assessing whether the decisions they are considering are value-added for the firm.

MIMB 6878 - Strategic Management

(3 cr; A-F only; offered Every Fall)

This course focuses on the competitive strategy of the firm, examining how firms achieve and maintain superior profitability relative to their competitors in the long run, and the firm's role in building a more just and sustainable world. Starting from overall industry analysis, we cover how firms position themselves to succeed in various competitive contexts based on their resources and capabilities. We then analyze how firms innovate and adapt their capabilities over time, especially in the digital age. We extend our analysis to the scope choices of the firm and discuss how firms can successfully compete across multiple countries and businesses. Throughout the course, case discussions examine and simulate the process through which strategic decisions are made and carried out. Students are placed in the role of decision-makers and frequently asked to analyze the key choices they must make to define, reinforce, and successfully implement the firm's strategy.

MIMB 6879 - Anatomy and Physiology for Managers

(2 cr; A-F only; offered Every Fall)

Overview of medical vocabulary/physiology of major body systems. Understanding current clinical practice. Market opportunities of major body systems and medical technology innovation.

MIMB 6881 - Marketing

(3 cr; A-F only; offered Every Spring)

Management of the marketing function; understanding the basic foundational marketing concepts and skills in strategy development and planning of operational and strategic levels pertaining to product offering decisions, distribution channels, pricing and communication.

MIMB 6883 - The Global Healthcare Marketplace

(2 cr; A-F only; offered Every Fall)

Survey of multitrillion dollar medical industry, this course covers physician and hospital services, insurance, pharmaceuticals, medical devices, information technology, and industry scale, interactions, opportunities, and barriers.

MIMB 6884 - Pharmaceutical Industry

(2 cr; A-F only; offered Every Fall)

Focusing on the unique characteristics of the pharmaceutical industry, including its market, regulation, and policy issues, this course leverages interdisciplinary perspectives and industry leader involvement to develop student skill sets. This course is a joint venture of the Carlson School of Management and the College of Pharmacy at the University of Minnesota. In addition to academic faculty from these schools, the course also engages the participation of key leaders in the pharmaceutical industry and the health sector in general.

MIMB 6885 - Information Technology in Health Care

(2 cr; A-F only; offered Every Fall)

This course prepares future health service managers to harness the resources of the emerging health information age. The course will focus on 1) the theory and conceptual base for healthcare information technology (IT), 2) applications of current and developing health IT applications and 3) approaches to evaluate the effectiveness of health IT systems. This course provides a theoretical and conceptual base for managers, creators, and evaluators of healthcare information technology, including the application of current and evolving technology systems. Special attention is paid to the design and evaluation of common data structures.

MIMB 6886 - Medical Technology Evaluation and Market Research

(2 cr; A-F only; offered Every Spring)

Leaders from medical industry companies participate in this hands-on experience in creating a value proposition for new medical technologies.

MIMB 6887 - Medical Device Industry

(2 cr; A-F only; offered Every Spring)

This course, with the insight of industry leaders, addresses public-private sector interactions and the business, public policy, regulatory, and technology management issues that concern medical device and biotechnology companies. This course covers the unique business, market, public policy, regulatory, and technology management issues of the medical device industry--including growing interaction and overlap with the pharmaceutical industry, biotechnology industry, information technology industry, and (more recently) wearable technology. Students successfully completing this course will understand: the historical development, importance, and future direction of the medical device industry; FDA issues, policies and strategies, public and private sector insurance coverage and reimbursement; interaction between public policies and private sector actions; intellectual property (IP) and liability issues concerning medical technology; and key issues relating to the start-up and management of new medical technology firms.

MIMB 6888 - Research and Development of Medical Technology

(2 cr; A-F only; offered Every Spring)

Understand the production healthcare research and development that exist to analyze how the components along the care continuum, currently fit together and more importantly explore how they can be reconfigured and re-engineered to create value.

MIMB 6889 - Health Law and Intellectual Property Strategy

(2 cr; A-F only; offered Every Spring)

This course will survey fundamental healthcare laws that apply to a wide variety of healthcare businesses, and will assess their impact on those business?s strategy and operations. The goal is to enable current and prospective managers and leaders in the healthcare space to be aware of and thus able to proactively manage potential legal issues. Intellectual property as a core tenant of medical innovation will be a focus of the class.

MIMB 6890 - Data Driven Project Work

(3 cr; A-F only; offered Every Spring)

This course is designed to provide students with an understanding of and an ability to apply exploratory data analysis, basic inferential procedures, and regression in a generic industry as well as medical industry and healthcare management setting.

MIMB 6894 - Supply Chain and Operations

(2 cr; A-F only; offered Every Fall)

Supply chain and operations are at the core of how organizations deliver value to their customers. Effectively matching supply and demand is key to the success of any organization and world-class operations can lead to a significant and enduring competitive advantage. In contrast, poorly managed operations and supply chains can result in low customer satisfaction and diminished profit margins, ultimately leading to company failure in the long run. The specific questions this course will address include: How can supply chain and operations help firms succeed? What are the issues and trade-offs confronting supply chain and operations managers?

MIMB 6895 - Data Analysis

(2 cr; A-F only; offered Every Fall)

The medical industry generates and uses one of the largest collection of digital data of any market sector. Concepts/ principles of business statistics, data analysis, and presentation of results will be examined in this course. Our topics include: exploratory data analysis and graphics, basic inferential procedures including estimation and hypothesis testing, correlation, bivariate and multiple regression analysis, forecasting and predictive modeling using regression, and introduction to the design of experiments. These methods are selected for their relevance to managerial decision making and problem solving.

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