CONDUCT OF THE COURSE

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CONDUCT OF THE COURSE

  1. 1. “PLEASE TURN OFF CELL PHONES WHILE IN CLASS” Fall 2006 Professor Kelley CALIFORNIA STATE UNIVERSITY, SACRAMENTO College of Business Administration GM 105 – Strategic Management Course Outline INSTRUCTOR: Professor Kelley OFFICE: Tahoe 2019 OFFICE HOURS: TR 1:30-2:45 p.m. PHONE: 278-7199 E-Mail: Kelleyca@csus.edu (I will only guarantee to check my email TR 1:30-2:45 p.m.) REQUIRED MATERIALS Capstone Ultimate Business Simulation 2006, Management Simulations, Inc. (You must register on the Capsim web site to receive credit in this course). RECOMMENDED MATERIALS Wall Street Journal BusinessWeek Fortune COURSE OBJECTIVES Strategic Management builds upon the knowledge gained in the business core. Emphasis is placed on making functional, business level and strategic decisions. This is accomplished by encouraging the student to act as a “manager” in making decisions and supporting them with well developed analysis. Specific objectives for all who participate in Strategic Management are: 1. To integrate concepts and knowledge from the core business courses. 2. To study market competition and to learn useful tools with particular emphasis on a systematic approach, a long-term orientation and a top management point-of-view. 3. To develop a framework of analysis that enables students to analyze organizations, marshal evidence to support conclusions drawn from the analysis and engage in problem solving in all areas of strategic management. 4. To stimulate creativity in implementing business solutions. 5. To develop team building and leadership skills.
  2. 2. CONDUCT OF THE COURSE Participants in Strategic Management are required to complete assigned readings "prior" to class sessions when those readings are discussed. Class will be a combination of instructor lectures, interactive class discussions, and participant presentations. Interactive class discussions will be conducted under both Socratic and volunteer formats. Students are expected to approach the class as professionals. GRADING Average work in this course is a "C." Keep in mind that a score on an assignment may not equate to the amount of time that was spent on the assignment. Grades for the course will be determined based upon the following components: Component Points 1. Eight rounds of Capstone simulation results (18 points possible each round) 150 2. Four sales forecasts (20 points each) 80 3. Management Memorandum 40 4. Competitor SWOT 40 5. Written Annual Report 100 6. Oral Annual Report Presentation 50 7. Business Review Test 100 8. Strategic Management Concepts Test 100 9. Costco Way paper 20 10. Competitiveness paper 20 9 Sarbanes-Oxley paper 100 10. Building a Team Paper 100 11. Leadership Paper 100 1000 Final grades will be based on the following scale: 1000 - 920 A 919 - 900 A- 899 - 880 B+ 879 - 820 B 819 - 800 B- 799 - 780 C+ 779 - 720 C 719 - 700 C- 699 - 600 D 599 - 0 F BUSINESS REVIEW TEST You will take a test on key business concepts that you should know from the prerequisite classes required for enrollment in GM 105. The test will be short answer/essay. The test is closed book
  3. 3. but you are encouraged to review any source prior to taking the test. The questions will be selected from the list of key business concepts attached to the end of this syllabus. NO MAKE-UP TEST WILL BE GIVEN. STRATEGIC MANAGEMENT CONCEPTS TEST You will take a test on key strategic management concepts that are covered on September 14th and 19th, and the basics of the Capstone game covered on September 21st. The test will be short answer/ essay. The test is closed book but you are encouraged to review any source prior to taking the test. Power Point slides are available on my web site. NO MAKE-UP TEST WILL BE GIVEN. CAPSTONE DECISIONS You will be assigned to a three-member team. Your task is to manage a business with five products, each targeted toward five different markets. You will compete against five other firms in the same industry. Your team’s decisions for each round must be uploaded to the Capstone website by 11:00 a.m. for the 10:30 a.m. class and 4:00 p.m. for the 3:00 p.m. class. The game will run automatically so late decisions will not be accepted. To prevent gamesmanship you must submit decisions for an on-going business for all 8 decision periods. (For example, you can’t stop production or sell capacity in the 8 decision period to maximize profit simply because there is no 9th decision.) Your team needs to specify its own measures of success based on your overall strategy. You may pick three of the following measurement choices; total dollar profit, stock price, ROE, ROS, ROA, asset turnover, market share, average contribution margin or total market capitalization. The measures that you pick will remain in effect for the duration of the game. You will be ranked 6 (highest) to 1 (lowest) on each measure per round. In addition, your team may earn up to six ‘stars’ per round. A star is earned for each period that your team has a profit, maintains a contribution margin of at least 30%, increases the stock price from the previous round, doesn’t have any stock outs or inventory levels over 60 days, and no emergency loan. *** Two practice rounds will be played before the game is played for credit. The purpose of the practice rounds is for the students to become familiar with the variables and mechanics of the game. You may not want to use your first choice of strategy for the practice round as your competitors will see the results. CAPSTONE TEAM WRITTEN ASSIGNMENTS Your team will complete several written assignments. Each assignment must be typed (I don’t read assignments that are not typed). Each paper must be typed and are due at the beginning of class on the date that it is due. No late papers will be accepted. These assignments are: 1. Sales Forecasts for Rounds 2, 4, 6 & 7 Your team will submit a hard copy of a sales forecast for rounds 2, 4, 6 & 7. The forecasts are due before 11:00 a.m. for the 10:30 a.m. class and 4:00 p.m. for the 3:30 p.m. class on the days that round 2, 4, 6 & 7 are run. Your team’s actual results will be measured relative to your forecast. For example, if your actual results are 85% of your forecast, you will receive 85% of the possible points for this assignment. 2. Management Memorandum Your team will prepare a written memorandum addressed to me that describes the
  4. 4. managerial roles that each member will assume and the performance expectations of the team. Your memorandum must indicate how you will hold team members accountable for their performance during the game. In addition, you need to specify your own measures of success and your overall strategy that you will use during the game. You must pick three of the following measurement choices; total dollar profit, average contribution margin, stock price, ROE, ROS, ROA, asset turnover, market share or total market capitalization. The measures that you pick will remain in effect for the duration of the game. You will be ranked 6 (highest) to 1 (lowest) on each measure per round. Each team member must sign the memorandum. I will stop reading this assignment after the third grammatical error. 3. Competitor SWOT Analysis Your team will complete a SWOT analysis on your firm relative to the five competing firms in your industry. I will stop reading this assignment after the second grammatical error. 4. Annual Report Your team will prepare an annual report covering rounds 4-7 of the Capstone Simulation Game. Please refer to a real annual report in the library for format and content. I will stop reading this assignment after the third grammatical error. Papers are due at the beginning of class on the date that they are due. No late papers will be accepted. Due to concerns over viruses I will not accept papers by email. CAPTSONE ANNUAL REPORT ORAL PRESENTATION An evaluation sheet is on the web site to assist you in your preparation of the presentation. INDIVIDUAL PAPERS Each participant in Strategic Management will write three papers. Each paper must be typed and are due at the beginning of class. No late papers will be accepted. In an effort to stimulate classroom discussion attendance is mandatory on the days that the papers are due. Due to concerns over viruses I will not accept papers via email. 1. Read the article “The Costco Way” and respond to the questions listed on the assignment. This assignment has a maximum of two, single-spaced pages. I will stop reading your paper after the third grammatical error. 2. Read the articles on competitiveness and respond to the questions listed on the assignment. This assignment has a maximum of two, single-spaced pages. I will stop reading your paper after the third grammatical error. 3. A five page, single-spaced paper (maximum) on the origins, key sections and operational issues for business of the Sarbanes-Oxley Act. I will stop reading this paper after the third grammatical error. 4. A four page, single-spaced paper (maximum) on the characteristics of leadership. Define effective leadership. Describe how you would spot and develop leadership in your
  5. 5. subordinates. Describe a leadership building exercise that we can use in class. I will stop reading this paper after the third grammatical error. 5. A four page, single-spaced paper (maximum) on the characteristics of effective team building. How would you build an effective team? How would you manage a team? Describe a team building exercise that we can use in class. I will stop reading this paper after the third grammatical error. TENTATIVE SCHEDULE Date Topic Assignment September 5 Introduction September 7 “The Costco Way” paper due September 12 Business Review Test September 14 Introduction to Strategic Management, Industry- Competitor Analysis, Strategy-Competitive Advantage September 19 Diversification Strategies, Implementing Strategic Plans September 21 Competitiveness paper due September 26 Strategic Management Concepts Test September 28 Introduction to Capstone Simulation Game, Team Member Guide, Form Groups Capstone Practice Round Planning October 3 Capstone Practice Round #1 decisions due October 5 Sarbanes-Oxley paper due, Attendance mandatory Capstone Team Meeting Date Topic Assignment October 10 Capstone Team Planning for Practice Round #2 October 12 Practice Round #2 decisions due October 17 Capstone Team Meeting October 19 Round #1 decisions due, Capstone Management Memorandum due
  6. 6. October 24 Leadership paper due, Attendance mandatory October 26 Round #2 decisions due, Capstone Sales Forecast for Round 2 due October 31 Capstone Team Meeting November 2 Round #3 decisions due November 7 Capstone Team Meeting November 9 Round #4 decisions due, Capstone Sales Forecast for Round 4 due November 14 Team Building paper due, Attendance mandatory November 16 Round #5 decisions due, Capstone SWOT due November 21 Capstone Team Meeting November 23 Thanksgiving November 28 Round #6 decisions due, Capstone Sales Forecast for Round 6 due November 30 Capstone Team Meeting December 5 Round #7 decisions due, Capstone Sales Forecast for Round 7 due December 7 Round #8 decisions due December 12 Annual Report Presentations, Capstone Annual Reports due December 14 Annual Report Presentations Changes to this tentative schedule will be announced in advance.
  7. 7. Key Business Concepts 1. Describe what working capital is and why it is important. 2. Describe the concept of financial leverage and it affects earnings per share (EPS) and the cost of borrowing. 3. Describe the purpose of an income statement and balance sheet, and list the accounts on each. 4. Read and interpret an income statement and balance sheet. 5. Explain how cash flow is used to make business decisions. 6. Explain the difference between direct fixed, indirect fixed and variable costs. 7. Explain the concept of contribution margin and how it is used in projecting the financing of a business. 8. Explain return on equity, debt ratio, net profit margin, gross profit margin, debt to equity ratio and current ratio. 9. Explain how to evaluate a long-term business capital investment. 10. Explain the relationship between payment of dividends and stock price. 11. Explain what is market capitalization (value) and what affects its size. 12. Explain the difference between net income of a project and project cash flow. 13. Explain the difference between profit maximization and value maximization. 14. Explain how the yield curve (including an inversion of the yield curve) for short, intermediate and long-term debt affects different sectors of the economy. 15. Explain the difference between secured and unsecured debt. 16. Describe how you would develop a product sales forecast given market size, market growth rate and market share. 17. Describe how you would develop a production forecast given market size, market growth rate, market share and ending inventory. 18. Explain product positioning and product cannibalization. 19. Explain market share and how it is computed. 20. Explain the relationship between advertising, sales promotion and personal selling. 21. Explain marginal cost and how managers can use it to make decisions. 22. Explain the difference between sole proprietorship, Limited Liability Company (LLC), Limited Liability Partnership (LLP) and corporation. 23. Explain benchmarking and how managers use it to make decisions. 24. Explain safety stock, carrying cost, inventory turnover and break even analysis. 25. Explain organic growth and why it is important to a business.

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