The Three Pillar Model for Business Decisions: Strategy, Law & Ethics
About this course: Prominent business school researchers have identified a powerful model for making business decisions that is based on economics, law and ethics. The Three Pillar model in this course expands this model by adding strategy in place of economics. With this change, the model becomes a practical framework that you can use to make all types of decisions—business, leadership and personal. This course uses business decision making to show you how to use the model. In essence, to achieve business and career success, you must manage risk (the Law Pillar) and create value (the Strategy Pillar) in a responsible manner (the Ethics Pillar). Because the Law Pillar is especially impo…
About this course: Prominent business school researchers have identified a powerful model for making business decisions that is based on economics, law and ethics. The Three Pillar model in this course expands this model by adding strategy in place of economics. With this change, the model becomes a practical framework that you can use to make all types of decisions—business, leadership and personal. This course uses business decision making to show you how to use the model. In essence, to achieve business and career success, you must manage risk (the Law Pillar) and create value (the Strategy Pillar) in a responsible manner (the Ethics Pillar). Because the Law Pillar is especially important and challenging, the course provides legal briefings (with many examples) on the key elements of business success, such as (1) attracting the best employees, (2) developing successful products, (3) creating new business models, (4) protecting intellectual property, (5) creating contracts that achieve business goals, and (6) using dispute resolution processes that improve business relationships. In taking a global perspective in covering these elements, the course provides an introduction to the global business culture to learners from the United States, and an introduction to the US business culture to learners from outside the US. With this background on the Law Pillar, after completing this course you should be able to: - Manage the key risks you face in business. - Create value for your business by linking the Law Pillar to the Strategy Pillar. - Use the Ethics Pillar to become a leader in creating or managing a business that serves the interests of society while creating profits for its shareholders. After you master the Three Pillar model for business decisions, you can easily apply the model to your personal decisions and to leadership decisions in non-business settings. How to successfully complete this course (4 steps): (1) Watch the short videos for each module. The videos are interactive and include questions to test your understanding of the Three Pillars model. You can watch them week-by-week or you can binge watch them. Someone who binge-watched my first MOOC (“Successful Negotiation: Essential Strategies and Skills”) concluded “It’s as good as ‘Breaking Bad.’” (2) Do the readings. The readings are short and designed to help you use the Three Pillar model in making everyday business decisions. They reinforce the videos and add additional coverage. (3) “Show what you know” by taking the practice quizzes at the end of each module. (4) Take the final examination. The exam is a Mastery Exam, which means that you can take it as many times as you want until you master the material. You have the option of earning a Course Certificate through the verification of your identity and successful completion of the course. A Certificate provides formal recognition of your achievements in the course and includes the University of Michigan logo. If you're considering getting a Course Certificate, you should complete the verification process before taking the Final Exam. You can choose to pay the associated fee before or after the exam.Created by: University of Michigan
Taught by: George Siedel, Williamson Family Professor of Business Administration and Thurnau Professor of Business Law
Each course is like an interactive textbook, featuring pre-recorded videos, quizzes and projects.Help from your peers
Connect with thousands of other learners and debate ideas, discuss course material, and get help mastering concepts.Certificates
Earn official recognition for your work, and share your success with friends, colleagues, and employers.About University of Michigan The mission of the University of Michigan is to serve the people of Michigan and the world through preeminence in creating, communicating, preserving and applying knowledge, art, and academic values, and in developing leaders and citizens who will challenge the present and enrich the future.
Welcome to The Three Pillar Model for Business Decisions!
This course will enable you to use the Three Pillar model to manage business risk and create value in an ethical manner. You will also be able to use the model when making personal decisions. After completing this introductory module, you will understand the...
2 videos, 5 readings expand
Use the Three Pillar Model for Personal, Leadership and Business Decisions
In this module you will learn the basic structure of the Three Pillar model and the importance of thinking globally in today’s business world. You will also learn a practical decision making tool that you can begin to use immediately for personal and business...
8 videos, 2 readings, 1 reading expand
Use Employment Law to Attract and Retain the Best Business Talent
Your ability to attract and retain the best employees is essential to business success. This requires an understanding of employment law. The videos in this module cover two of the most important and controversial areas of employment law: the ability of a bus...
8 videos, 2 readings, 1 reading expand
Meet Your Customers’ Needs: Transform Product Liability into Product Innovation
In a fast-changing world, your ability to develop new products is an important source of competitive advantage. The videos in this module provide you with methods for managing product liability risks. You can use these same methods for consumer research and ...
12 videos, 2 readings, 1 reading expand
Create Business Opportunities Through Government Regulation
Government regulation plays an important role in determining the success of businesses around the world. In this module you will learn how to manage government regulatory risk by shaping the law and through compliance. You will also learn how to create busin...
5 videos, 2 readings, 1 reading expand
Use Your Intellectual Property to Create Shareholder Value
Whether you are an entrepreneur starting your own business or a manager in a major international corporation, intellectual property is one of your key business assets. In this module, guest lecturer Susan Kornfield, a leading intellectual property lawyer, wil...
12 videos, 2 readings, 1 reading expand
Develop Contracts that Create Value for Both Sides
Successful contracts are the key to value creation for businesses. This module provides a contracting checklist of the key elements anyone in business should understand when negotiating contracts. These elements are necessary to minimize risk by creating a “...
7 videos, 2 readings, 1 reading expand
Use Dispute Resolution Processes for Value Creation
This module focuses on the processes that you will use to resolve disputes and build relationships that are key to business success. Short videos demonstrate arbitration and mediation processes. The module includes discussion of practical management tools y...
9 videos, 2 readings, 1 reading expand
Create and Lead an Ethical Business
This module focuses on the Ethics Pillar of decision making by addressing three questions that are important to your career success: (1) What decision-making process should you use when facing an ethical dilemma? (2) What guidelines should you consider when...
4 videos, 2 readings, 1 reading expand
This module includes the final examination, including both the relevant instructions and honor code.
1 reading expand
Graded: Final Exam
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