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Lectures: 1 session / week, 2 hours / session
Construction, real estate, and architecture together make up the largest industry in the world. The industry is also extremely fragmented, risky, confrontational, and information intensive. There are strategic opportunities - and strategic pitfalls.
It is assumed that students will soon become principals in existing industry firms, or in their own companies. Effective principals need a toolkit of strategic concepts to use in exploring and charting the direction of their firms, and in explaining and implementing that direction.
This course provides an overview of key concepts in strategic management specific to this industry. Topics include supply chain analysis, market segmentation, vertical integration, competitive advantage, and industry transformation. This course will be of interest to students seeking more understanding of the business dynamics of real estate and construction; seeking to provide value in firms which they may join; or seeking to build a foundation for their own entrepreneurial pursuits.
The case method is used extensively, where students read case studies of business situations, supplemented by academic and business readings, and analyze and discuss the choices and issues with the class.
One problem set and two 5-page papers on assigned cases. There is no final exam. Contribution to class discussions is a major factor in grading.
The course is taught on a case study basis, relying also on texts and current articles. The class meets weekly on Mondays. Grading is based on class participation and on papers and problem sets, with no final exam. There are no prerequisite courses.
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John D. Macomber is CEO of BuildingVision, Inc., a consulting and investing firm focusing on the future of the construction industry. He is a nationally recognized thought leader on information technology and industry change in construction. The Chairman and former CEO of the George B. H. Macomber Company, a large regional general contractor, Mr. Macomber has also led organizations in information services, equipment rental, and real estate. He has been teaching this course and its predecessors at MIT since 1988.