
The course on Industrial Organization and Management (IOM) is a hybrid discipline that equips students with both the economic analysis tools necessary to understand the competitive marketplace and the practical managerial skills required to lead a firm efficiently. It focuses on the crucial link between a company's internal structure and its external environment.
The Industrial Organization (IO) component provides the external, strategic framework. It uses economic theory and game theory to analyze how firms behave within different industry structures, such as a monopoly (one dominant firm) or an oligopoly (a few dominant firms). Key areas of study include identifying the sources and effects of market power, examining strategic competition (like pricing and research and development), and understanding the impact of antitrust policy and government regulation on market outcomes. This analysis helps managers define their competitive strategy.
The Management component provides the internal, operational framework. It covers the four universal functions of management: Planning (setting goals and policies), Organizing (designing the organizational structure and delegating authority), Leading (motivating and directing personnel), and Controlling (monitoring performance against objectives). By integrating these functions across key areas like production, human resources, and finance, the course ensures that a firm's internal operations are executed efficiently and are optimally aligned to achieve the strategic goals dictated by the competitive environment.
- Teacher: Bridgitte Mueni