Second Generation ITP

Integrated Thinking is more than a buzz word to differentiate Rotman.

The concept is still REALLY new, so the classroom experience has been as much a learning experience for the students as it is for the professors. This quarter's Integrated Thinking Practicum is vastly different from what was taught in 2009. Like many leading edge ideas, there were some kinks that needed to be ironed out - welcome to ITP Gen2.

Based on what I've seen so far (AKA one lecture, a bunch of class notes and the first two assignments), the course will cover a heck of a lot of material!

My interpretation of the course:
If there is anything constant in this world, it's change. Thus far, we have learned numerous traditional models in a variety of disciplines (finance, marketing, HR, etc), but most of these models were developed ages ago. In some cases before I was born! While these models are fantastic at explaining generalities in the world, they certainly don't work in ALL situations.

Think about it - in the 1960s when the Capital Asset Pricing Model(CAPM) was developed, there was no such thing as cable television. No cellular telephones, no internet. Heck, no home computers! Most people didn't have a credit card. An Ipod wasn't even invented on Star Trek!

Ok, ok, I think you get the picture I'm trying to paint.

It's not the same world that it once was, but the same financial tool is taught to thousands of MBAs who use it, in the workplace, on a regular basis to determine the appropriate rate of return of financial assets and portfolios. Please don't think I'm criticizing CAPM, but do note that it was, and still is a theoretical concept that works as long as a number of assumptions are true.

What we will be learning in ITP is a variety of techniques to dissect the models that we've learned. To understand the underlying assumptions, and make rational, supportable decisions about model's effectiveness & appropriateness in a dynamic world.

Both qualitative and quantitative models will be addressed in the hope that Rotman managers will be more nimble, and better able to thrive in a changing business environment.

My initial thoughts on the course:
1. It will be a lot of work!!!
2. It will be frustrating at times (sometime vs. all the time,TBD)
3. It will be invaluable if it delivers on its ambitious good intentions

With 75% of students still looking for summer jobs, this is going to be a BUSY quarter for most of the class. We have 8 assignments due in 6 weeks for this course alone!

Let's all raise a glass to ITP (and/or St. Patty's Day)