Babson College - Babsonian Yearbook (Wellesley, MA)

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riarl eting Divisinn Edward McGee Norman Govoni, Chairman Marketing Jean Pierre Jeannet Morton Galper Dr. Gerald Price Richard Ostheimer Marketing — dynamic, challenging, exciting — encompasses all activities involved with determining and satisfying the needs and desires of target mar- kets. It is concerned with products and services, consumer and industrial markets, profit-seeking and not-for-profit organizations, and public and private institutions. The main goal of marketing is the satis- faction of the cumstomers it serves — and to achieve that end with efficiency. The Marketing curriculum is a commitment to management education and serves to make possible a smooth transfer of students from an educational program to marketing practice. The general objec- tive is to prepare graduates with the capabilities of assuming the demands of entry-level jobs, with a background that facilitates long-term professional advancement. A common thread throughout all the courses is emphasis on marketing decision-making. The spe- cific objectives of the marketing curriculum are to foster an educational environment that allows the student to acquire: ( 1) appreciation of the orgin, role and signifi- cance of marketing strategy, and its rela- tionship with other functional areas of busi- ness: ( 2) knowledge of the various marketing activi- ties as they interact in the framework of marketing strategy; ( 3) understanding of the concept of customer orientation as the focal point in the develop- ment, implementation and appraisal of mar- keting programs; ( 4) skill in identifying, analyzing, and respond- ing to marketing problems and opportuni- ties; ( 5) understanding of information and research as a foundation of marketing strategy; ( 6) perspective on both theory and practical ap- plications; ( 7) awareness of the similarities, differences and challenges in the nonprofit as well as the profit-seeking marketing sector and in prod- uct and service marketing; ( 8) insight into the social issues and responsibil- ities involved in marketing systems; ( 9) appreciation of the contributions of other disciplines to the advancement or marketing knowledge; and (10) sensitivity to the forces that generate change in marketing and influence the character of marketing activities. In the commitment to achieving these objectives, emphasis is on an interactive learning environment in which both students and instructors play an ac- tive role. In this way, the total learning experience will be meaningful and will serve as a vital stepping stone to a productive marketing curriculum is to make it an essential and valuable contribution to the general management curriculum, the overriding ob- jective of which is an integrated program that is professionally oriented.

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nanagement Diuision David Rogers Bottom Row R to L: Thomas Kennedy, Tesfaye Aklilu, Agnes Missirian, Chair- man John A. Hornaday, Michael Patterson. Top Row: David Leeson, Neil Thornberry, Robert C. Ronstadt Jr., Joseph R. Weintraub, Missing: Kathryn Harrigan, Terry Allen, John Morse. Jeffrey Shuman William Nemitz John H. Stamm Elizabeth Powell This division offers four areas of specialization, and a student may concentrate in any one of these or may choose to draw courses from a combination of these fields of specialization. The four are Manage- ment Processes, Behaviorial Sciences Applied to Management, Strategic Integration, and Entrepre- neurial Development. The fundamental management processes of plan- ning, organizing, directing, controlling, decision making, and evaluating are central functions for the effective manager, and one of the major objectives of this division is clarification of the principles and concepts which lead to effective functioning in these lines. An understanding of human behavior is vital to success in any field. In the behavioial courses in this division, examination is made of the interaction or organization and employees with emphasis on the psychology of leadership, communication, decision making, and adjustment to change. Problems in col- lective bargaining, the design of strategy, and the social, legal, political, and ethical implications of organizational courses of action are considered. The integrative courses, such as Policy Formulation, act as capstone areas in which we pool together the information acquired in many other fields and give the student an opportunity to develop the capacity for establishing a strong strategic structure. A final area of specialization within this division is entre- preneurship: we wish to contribute significantly, along with other divisions, to the development of the entrepreneurial, innovative characteristics of those students electing to follow that route. This divisions objectives in a more general way can be expressed in a statement found in Babson ' s Master Plan,: To communicate to undergraduate students the importance of lifelong learning and imbue in them a desire for professional and intellec- tual growth in a management or entrepreneurial career. At the same time, give students a solid basis for functioning effectively in their first positions after graduation. 30 sssmsM iawtaMEmst sai

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math 6 Science Oiuision John Saber, Chairman Arvind Shah Judith Koval Margaret Weinblatt Missing Pictures of Ismael Dambolena, John McKenzie, and Nicholas Teebagy. William Rybolt Leslie Ball Business today is faced with the need to make more complex decisions than ever before. To evaluate the alternative actions and choose from among them the optimal strategy in a competitive world, we must employ a host of quantitative techniques: statistical analysis, regression, decision theory, linear programming, dynamic pro- gramming, network models, and queuing systems, among others. The information on which the business man or woman must base these decisions is stored, summarized, classified, and manipulated into usable form by computers. Increasingly, the ex- ecutive must incorporate scientific and technical complexities into the decision making process. The purpose of the Math- matics and Science Division is, therefore, threefold: to give students an understand- ing of the quantitative techniques of deci- sion making; to introduce them to the ca- pabilities and limitations of computers and their role in the organization; and to ex- plore the process in which scientific dis- covery is linked to management. Students who major in Quantitative Methods find myraid applications to the techniques and skills learned. In recognition of the useful- ness of Quantitative Methods in solving problems in other areas, there are also joint majors in Quantitative Methods Fin- ance, Quantitative Methods Investments and Quantitative Methods Economics. 32