bu 6262 - applied value creation (2)

this course focuses on how effective managers understand both their organization and its stakeholders and translate that understanding into optimal value for the firm. specifically, managers must understand (1) production and cost decisions - what method and scale of production is necessary to produce a product at the optimal cost, (2) market structure and strategy - what price should be set knowing the competition and consumer demand, and (3) organizational architecture-how the firm should organize to optimally deliver its desired strategy. applied value creation is fundamentally a unique way of thinking about problems, issues and decisions that managers face in each of the functional areas of the organization as well as the strategic decisions faced by senior leaders.