Management

Steve Holland (department head)

The management major courses emphasize the knowledge, skills and values applicable to profit and nonprofit organizations. Students are encouraged to consult with Economics and Business department faculty, the Luther Career Center, and alumni volunteers to discover professional opportunities, design their academic plan, and arrange for business/nonprofit experiences.

Required for a major: The foundation courses, which include ECON 130; MGT 150 or MATH 115 or an equivalent statistics course; ACCTG 150; MGT 250; MATH 140 or higher. Other requirements include MGT 240, 351, 352, 353, two management electives numbered above 300, and MGT 490. Writing requirement completed with MGT 351. Students completing more than one major may elect to complete their senior project requirement in a major other than management. Students must achieve at least a C average (2.0 GPA) in the foundation courses. Courses in which grades below C- are earned will not count toward filling the foundation requirements. These foundation requirements should be completed by the end of the sophomore year. Management courses numbered above 300 are intended for students with junior standing. Students interested in the management major are expected to have adequate preparation in math. The minimum expectation is strong Algebra II skills with preparation in precalculus or beyond recommended.

The credit hours required for the management major must be earned in regular classroom courses. Credits earned through directed readings, independent study, internships and the senior project may not be counted toward the total hours required for the major.

Students planning to pursue graduate work in management studies are advised to consult a management faculty member to identify coursework in economics, accounting, mathematics, and data science that will strengthen their graduate application.

Students majoring in this area are urged to consider the following courses as electives: COMS 132, SOC 101, POLS 130, PSYC 130. Students planning on graduate study should consider MATH 240, 321, and 322.

Required for a minor: ACCTG 150, MGT 240, two courses from MGT 351, 352, 353, and one management elective above 300.

Required for certification to teach: Completion of the management major, completion of the secondary education program, and student teaching at the secondary level. See education department for secondary education minor requirements.

Emphasis in Arts and Sports Management: A sports management emphasis can be combined with a management major and selected health and physical education courses in consultation with the Health/Physical Education department head. Students interested in careers in arts management will complete a major in art, dance, music or theatre and a minor in management or a major in management and a minor in art, dance, music or theatre.

Management Courses

MGT 120 Personal Finance

  • 4 hours

A survey of the financial decisions encountered in managing personal and family financial affairs. Topics will include budgeting, housing decisions, auto leasing, personal loans and credit card debt, managing risk through home, health, auto and life insurance, legal protection, taxes, investments and savings for retirement.

MGT 150 Statistics

  • 4 hours
  • Fulfills: Human Behavior—Social Science Methods, Quantitative

A first course in statistics which introduces descriptive and inferential statistical tools as they apply to management, accounting and the social sciences. Students who earn credit for MATH 115 cannot earn credit for MGT 150.

MGT 240 Principles of Management

  • 4 hours
  • Prerequisites: Sophomore standing

Historical and contemporary approaches to managing people and organizations. Includes assessing, developing, practicing, and applying management competencies, knowledge, and skills.

MGT 250 Data Analysis for Business Decision-Making

  • 4 hours
  • Prerequisites: ACCTG 150 and sophomore standing

This course is an introduction to business intelligence and analytics, focusing on the extensive use of data analysis to drive business decisions and actions. Areas of emphasis are efficient manipulation of data sets, defining and organizing needed data using data modeling techniques, retrieving and mining data using database tools, using data to create models for analysis, and presenting data effectively for decision-making. The course will utilize current software tools, such as spreadsheets and databases, and will focus on techniques for improving business reporting and data visualization.

MGT 351 Principles of Marketing

  • 4 hours
  • Prerequisites: Junior standing

A survey course emphasizing the marketing concept, the marketing environment, marketing research, consumer behavior, business-to-business marketing, market segementation, product strategy, channel strategy, promotional strategy, and pricing strategy. This course has a writing instruction that partially fulfills the writing requirement.

MGT 352 Human Resource Management

  • 4 hours
  • Prerequisites: Junior standing

Principles involved in managing human resources to promote harmony and coordination within an organization. Consideration of such areas as employee recruitment, placement, development, performance evaluation, and compensation. This course includes writing instruction that partially fulfills the writing requirement.

MGT 353 Financial Management

  • 4 hours
  • Prerequisites: MGT 150 or MATH 115 ACCTG 150.

Introduction to the two major decisions faced by the finance manager: financing (raising cash) and capital budgeting (investing cash). A focus on cash-flow based decision-making including time value of money, the relationship between risk and return, the cost of capital, capital structure, and leverage. This course includes writing instruction that partially fulfills the writing requirement.

MGT 360 International Business Management

  • 4 hours
  • Fulfills: Intercultural
  • Prerequisites: Junior standing

This course seeks to acquaint the student with the theories, environmental factors, procedures, and terminology that combine to make international business management more challenging than its domestic counterpart. Topics covered include theories of trade, modes of entry into foreign markets, international organizations, export procedures, foreign currency exchange, the international monetary system and the effects of culture, politics, laws, and geography on cross border transactions.

MGT 361 Business Law: the Legal Environment of Business

  • 4 hours
  • Prerequisites: Junior standing

A study of the sources of law and their application to contracts, sales, negotiable instruments, agency, business organization and government regulation. Emphasis on critical thinking including legal and ethical considerations in making business decisions.

MGT 362 Entrepreneurship

  • 4 hours
  • Prerequisites: Junior standing

Emphasis on contemporary approaches to entrepreneurship, including the Lean Startup methodology and the Business Model Canvas. Entrepreneurship is presented as an iterative process, starting with opportunity recognition and continuing with steps necessary to allow for market validation and pivots. Students explore methodologies for starting and growing sustainable business models under conditions of extreme uncertainty, as well as methodologies for innovating existing business models. Students complete application assignments to reinforce concepts presented in the couxrse. Students also complete a personal startup plan for a business idea. The course includes guest speakers who share their entrepreneurial experiences, providing students with a deeper understanding and broader perspective of entrepreneurship.

MGT 363 Negotiations and Conflict Resolution

  • 4 hours
  • Fulfills: Human Behavior
  • Prerequisites: Junior standing

A seminar in the concepts and fundamentals of negotiating and resolving conflicts. Students will investigate the necessary skills to be successful negotiators. Alternative dispute resolutions systems will be studied as a means of resolving interpersonal and intergroup conflicts. Emphasis will be on the basic management fundamentals necessary for effective conflict resolution using problems frequently encountered by individuals in their personal and professional encounters.

MGT 364 Sales, Advertising, and Promotion

  • 4 hours
  • Prerequisites: Take Mgt-351

An introduction to professional salesmanship emphasizing its relationship to marketing concepts. Case studies and demonstrations are used throughout the course.

MGT 365 Investments

  • 4 hours
  • Prerequisites: ECON 130, ACCTG 150, MATH 115 or MGT 150, MGT 250 or 260, MATH 140 or above

Analysis of the investment environment, instruments, markets, and institutional aids for purposes of formulating broad personal investment programs.

MGT 366 Creativity and Innovation

  • 4 hours
  • Prerequisites: Junior standing

Students learn and apply specific creativity and systematic innovation methodologies (lateral thinking, TRIZ, ASIT, etc.) used for generating ideas, modifying existing products, and solving contradictions that block innovation. Students examine the dynamics associated with developing and sustaining organizational cultures that foster innovation and make ideas a central part of work. Other course topics include collaboration, improvisation, rapid iteration/prototyping, design thinking, and open innovation. Students learn to create sustainable competitive advantage through entrepreneurial and intrapreneurial innovation.

MGT 367 Organizational Behavior

  • 4 hours
  • Prerequisites: MGT 240 and junior standing

First, individual differences (e.g., personality, perceptions, ethics, motivation) are introduced from a social psychology perspective. Next, how these differences impact human interactions (e.g., communication, teams, leadership conflict) are explored. Finally, these interactions are discussed in an organizational context (e.g., job design, organizational structure, organizational culture). For each topic foundational terminology, principles and theories, and critical analysis and application are stressed.

MGT 368 Electronic Commerce

  • 4 hours
  • Prerequisites: MGT 351 and junior standing

Emerging online technologies have revolutionized the buying and selling of goods and services in the marketplace. The course is designed to challenge students to explore the realities and implications of e-commerce from a manager's perspective. This course does not assume the student has any previous electronic commerce management experience. Topics include: internet revenue models and their execution on the web, payment acceptance and security issues, designing electronic storefronts, planning for electronic commerce, and the legal and ethical challenges of electronic commerce.

MGT 370 E-Marketing

  • 4 hours
  • Prerequisites: MGT 351 and junior standing

The internet and other information technologies have created many interesting and innovative ways to improve customer value since its inception in 1969. The course will examine the evolution of the media and examine various marketing strategies including web sites for marketing communications, consumer behavior insights based on offline and online data combination, inventory optimization through CRM-SCM integration, and the focus of ROI and associated performance metrics in today's business environment. Course will also examine high readership blogs, social media networks and online communities how they have enabled consumers with growing voice in the control of content in marketing communications and product quality. The course will begin on campus examining these concepts and other e-marketing strategy. The second half of the class will take place in Chicago networking with marketing professionals from a variety of industries and organizations. Course is designed to satisfy J-II and/or Management elective requirements.

MGT 371 Project Management

  • 4 hours
  • Prerequisites: MGT 250 and junior standing

This course provides an introduction to the core concepts, techniques, and principles of project management required to successfully meet an organization's goals and objectives, with particular emphasis on Information technology (IT) projects. The course explores the Industry standard Project Management Body of Knowledge (PMBOK) guide and also incorporates learning objectives related to communication, influence, and negotiation, and their relationship to project success.

MGT 490 Senior Project

  • 1 hour