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Lecture Syllabus
 

Lecture Syllabus

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    Lecture Syllabus Lecture Syllabus Document Transcript

    • MANAGEMENT 4720 STRATEGIC MANAGEMENT Summer D 2008 Bruce R. Barringer, PhD University of Central Florida Office College of Business Building 1 Room 342 Phone 407-823-2673 E-Mail Class: Capstone@bus.ucf.edu Personal: Bruce.Barringer@bus.ucf.edu Web Page Class: www.bus.ucf.edu/capstone Personal: www.bus.ucf.edu/barringer Office Hours Monday, 8:30 am – 10:00 am Class Time and Monday, 10:00 am – 12:45 pm Open Attendance Location Streaming video of lecture available at: www.bus.ucf.edu/capstone Textbook Strategic Management, by Mason A. Carpenter and Wm. Gerard Sanders. The Wall Street Journal. Discount subscriptions available at: http://subscribe.wsj.com/semester Lecture and This course is taught in two separate weekly components: (1) lecture, Breakout Labs which meets once a week, and is available on a first-come-first-serve basis in person and is also available online, and (2) the breakout lab, which also meets once a week. In lecture, I will teach you the theories that constitute the strategic management process. Your lab instructor will show you how to apply the theories to real life situations, and will evaluate your work and assign grades.
    • Specific questions about assignments and grades should be directed to your lab instructor. Any questions you have about the lecture material and exams you can direct to me. Objectives Strategic management is an organizational process that focuses on (1) the long-term competitiveness of an organization; and (2) the manner in which an organization achieves its long-term goals. As a result, strategic management does not focus on one functional discipline such as accounting, finance, or marketing, but instead on how all the separate functional disciplines in an organization work together to achieve its long-term goals. The objective of this course is to adopt a “strategic” or “long-term” perspective of organizational effectiveness. The course is deliberately placed near the conclusion of your undergraduate education to provide you an opportunity to integrate the knowledge and skills that you have learned in your other classes. A particular emphasis will be placed on demonstrating that strategic management concepts are applicable to all organizations – large and small, public and private, for-profit and not-for-profit, and domestic and international. Relationship to the Cornerstone Experience Teamwork You will use your teamwork skills as you work with other class members on Strategic Applications and the development of Strategic Analyses and Plans. Communication You will have the opportunity to build stronger business communication skills through participation in oral presentations and a written assignment. Creative The development of solutions to real world problems facing the Thinking companies you will study requires a high level of creative thinking. In particular, you will have to develop a Strategic Recommendation for a firm. Adapting to Furthermore, the course will teach you how organizations can Change anticipate and adapt to changes over which the organization has little control. You will have to analyze firms and evaluate their ability to adapt to changes facing them, as well as make a recommendation for how a firm might best adapt to their competitive environment. 2
    • Course Assignments and Grades Your grade will be based on 1,000 total points, divided as follows: Group Grades First Case: Industry Analysis Presentation 50 points First Case: Industry Analysis Paper* 50 points Second Case: Strategic Analysis Presentation 100 points Second Case: Strategic Analysis Paper* 100 points Individual Grades Lecture Follow-Up Quizzes (administered in lab) 50 points Midterm Exam 200 points Final Exam 200 points Ind. contribution to Industry Analysis Paper* 50 points Ind. contribution to Strategic Analysis Paper* 50 points 3 Wall Street Journal projects (@ 50 pts. Each) 150 points *Note: Case analysis papers will be assigned both individual and group grades. You will be responsible for a specific section of each paper. Your individual grade will reflect your instructor’s assessment of that portion of the paper. Your instructor will also assign an overall grade to reflect how well the individual sections come together as an overall analysis. Extra Credit Opportunities Participating in the Semi-Finals of the Case 10 points Competition Perfect Attendance in Labs (discussed below) 10 points Possible Participation in the Dean’s Office 5 points Career Survey Grading Scale A 920-1000 C 720-779 A- 900-919 C- 700-719 B+ 880-899 D+ 680-699 B 820-879 D 620-679 B- 800-819 D- 600-619 C+ 780-799 F less than 600 3
    • Group Activities Early in the semester you will be divided into groups of four to five people within your labs. You will stick with the same group throughout the semester. You will work with your group on both un-graded and graded activities. Lab Activities The labs will include in-class exercises designed to help you learn and apply the concepts presented in lecture. Some of these exercises will require reading and pre-class preparation on your part. 10 extra credit points will be given to students who have perfect attendance in their lab section, as indicated above. No exceptions will be given for missing a class in regard to receiving the 10 extra points. The labs will also include five separate “lecture follow-up” quizzes. Each quiz will be worth 10 points. The dates of the quizzes will not be announced in advance, and they will be based on the previous Monday’s lecture material. Wall Street Journal projects During the course of the semester, you’ll have the opportunity to participate in three projects drawing on real-time issues and events unfolding in the Wall Street Journal (WSJ). Details for each of the projects will be distributed in your labs. You’ll want to get your subscription started as soon as possible. Significantly discounted subscriptions are available for the semester at: http://subscribe.wsj.com/semester. Case Analyses Your team will prepare two in-depth case analyses during the semester. The first will involve an industry analysis, and the second, a strategic analysis of a specific company. Each will involve both a paper and a presentation. Your instructor will provide more details regarding both, but in brief: Case 1: Industry Analysis Paper and Presentation Your team represents a consulting firm that has been asked to provide an analysis of a specific industry. Your lab instructor will assign your team one of several industries to examine with respect to its current, real-world situation. A significant portion of class material and activities will be oriented toward learning how to perform quality industry analyses. This effort will culminate with a 10-minute presentation of your team’s analysis of the industry, to be presented in class, and a paper no longer than 15 pages (excluding appendices & references). These analyses will be presented to the entire lab section at the time specified your lab instructor. 4
    • The Industry Analysis Paper Early in the semester, your lab instructor will assign each team to analyze one of several previously selected industries. Your team will conduct a competitive analysis of that industry. Each member of the team will be individually responsible for one of six required sections of the paper. Five of these sections reflect the five forces facing each industry (2 pages each), plus a sixth set of responsibilities that includes creating a 2 page analysis section (Collectively, what do these reports regarding the five forces tell us?), a 2 page summary section (Understanding what they tell us, what would we DO with this information?), and a brief (1 page) executive summary. Each of the five forces components is shorter, but requires more outside work, than the final (analysis, summary) sections. Teams will self-manage the assignment of each section. If your team has fewer than 6 members (which is nearly always true) you’ll want to combine some of these sections so your paper reflects as many distinct sections as you have team members. For example, it would be very straightforward to combine the buyers and suppliers forces into a single section of the report. Likewise, it would be easy to combine current competitors with potential entrants. Two important notes: First, if you place a single member as responsible for more than one section of the report, the page guidelines remain the same. That is, if you combine buyers and suppliers as the responsibility of a single member, you’ll need two pages for each, not two combined. The extra two pages isn’t that much . But if someone views the extra two pages as especially burdensome, it’s easy enough for the group to even things out via workloads on the presentation, or even the second case project. Most group members are really good about things like this. But you’ll want to be sensitive to the workload across the two case projects. Make it as fair as you can. Second, note that each component will lead to an individual grade for the person responsible for that component. However, in analyses like these, the whole may be more (or less) than the sum of the parts. Therefore, instructors will also assign an overall grade to reflect the quality of integration and insight represented in the analysis overall. Industry Analysis Presentation Your team will have the opportunity to present the core findings of your analysis in a 10- minute presentation to the class, followed by five minutes of Q&A. Your goal in this presentation is not simply to present your paper. (Nobody wants to sit through several consecutive reports of five forces analyses.) Rather, your goal will be to quickly summarize your industry (less than a minute) for the benefit of the audience, and then move directly into what you learned from the five forces analysis. For example, which of the forces is/are most critical at this point? Why? What did you take away from these analyses in terms of understanding the attractiveness of this industry? Would your consulting firm recommend entry into this industry? Don’t recite. Provide insights. That is, we don’t want you to simply recite your paper. (Your instructor will see all the details of what you did in the paper and its appendices. S/he will evaluate all of that via the paper.) Rather, we want you to convey the insights that your industry analysis has yielded. 5
    • All papers are due at the beginning of your lab section meeting on the assigned date. Industry Analysis papers handed in late are subject to a 15 point penalty for every 24 hour period they are late. Case 2: Strategic Analysis (of a specific company) Paper and Presentation Your consulting firm will also be asked to prepare a strategic analysis of a specific firm. For this strategic analysis, all teams in all lab sections will be assigned the same company to examine with respect to its current, real-world strategic situation. A significant portion of class material and activities will be oriented toward learning how to perform quality strategic analyses. This effort will culminate with a 10-minute presentation of your team’s analysis of the firm, to be presented privately to your instructor. In addition, you will prepare paper no longer than 15 pages (excluding appendices & references). Strategic Analysis Paper Later in the semester, your lab instructor will assign all teams a company to be analyzed. Your team will conduct a strategic analysis of that company, using current data and assessing their current situation and strategic needs. Each member of the team will be individually responsible for one of six required sections of the paper. (More on those later in the semester.) Teams will self-manage the assignment of each section. Note that as with the industry analysis, each component will lead to an individual grade for the person responsible for that component. Again, the whole may be more (or less) than the sum of the parts. Therefore, instructors will also assign an overall grade to reflect the quality of integration and insight represented in the analysis overall. Strategic Analysis Presentation Your team will then have the opportunity to present the core findings of your strategic analysis in a 15-minute presentation to your instructor, followed by five minutes of Q&A. Once again, your goal in this presentation is not simply to present your paper. (Nobody wants to sit through several consecutive SWOT analyses.) Rather, your goal will be to quickly summarize the firm’s situation (less than a minute) for the benefit of the judge(s), and then move directly into what you learned from the analysis, and what strategic initiative(s) you recommend to the top management team at the company. For example, which aspects of the SWOT analysis present the greatest challenges? What sustainable competitive advantage will we build (or build upon)? What is the most opportune strategic initiative available to us right now? Do we have the capacity to execute on it? How will we make it happen? Etc. Again, the goal is not to recite (your paper) but to provide insights. As with the industry analysis, your instructor will see all the details of what you did in the paper and its appendices. S/he will evaluate all of that via the paper. Strategic Analysis papers handed in late are subject to a 15 point penalty for every 24 hour period they are late. 6
    • This second case analysis forms the foundation for: The Great Capstone Case Competition The Capstone Case Competition is the culminating event for this class, and for most of you, your experience at the UCF College of Business. After hearing each team in the lab present their strategic analysis, each lab instructor will choose one team from his/her section to advance to the semi-finals of the Capstone Case Competition. The instructors will be looking for teams that can not only think strategically but also work well together as a consulting firm, and deliver a rigorous, competent presentation of those ideas. All teams will have the opportunity to complete their case portfolio by preparing and presenting a strategic analysis of a company in real time. Of these, the best will be invited to participate in: The Great Capstone Case Competition Semi-Finals and Finals—Friday, July 11. The top teams from all Capstone sections will advance to the semi-final round of the competition. The teams will be divided into groups, and each team in a group will deliver their presentation to a panel of two faculty judges. The judges will pick a winner from each group to advance to the finals. The semi-finals will begin at 4:00 pm. The winners of the semi-final competition will be announced around 5:30 pm. All students participating in the semi-finals will be invited to a pizza party following the presentation sessions. Teams that advance through the semi-finals will go onto the finals later that evening and will receive awards for their efforts. The finals will begin at 6:00 pm. They will be judged by a panel comprised not only of faculty experts, but industry experts representing the Dean’s Advisory Council, the College of Business Hall of Fame members, etc. This is your opportunity to present your skills to some of the top business leaders in the area! Incentives for Excelling in the Great Capstone Case Competition If your lab instructor chooses your team to advance to the semi-finals, your team may choose to participate or not. Your incentives to participate are as follows: Participation in the Semi-Finals • Terrific resume point • Exempt from the final exam • Final course grade will be calculated on 800 points instead of 1000 points, since the final exam is worth 200 points. • All members of the semi-finals teams not reaching the finals will receive 10 extra credit points for participating in the semi-final competition. Advance to the Finals • Even better resume point 7
    • • Exempt from the final exam • Grade received on presentation portion of the Strategic Analysis case will take the place of your final exam score. For example, a 95% on the presentation portion of your Strategic Analysis translates into a 190 out of 200 for your final exam grade. (In the unlikely event this option lowers your grade, you will simply be exempt from the final exam). Winning the Competition • Exceptional resume point • Exempt from the final exam • Your final exam score will be 200 Midterm and Final Exams Both the midterm and final exams will be administrated in the testing lab in BAII (the newer College of Business building). The midterm and the final are worth 200 points each. Check the weekly schedule for the dates of the midterm and final exams. Exams will not be administered early for any reason. We realize that there are some legitimate reasons that you may have to miss an exam and we allow for makeup exams to be administered in these exceptional situations. However, students must be willing to adjust their own schedules to take the makeup exam at the time scheduled by their instructor. Students are expected to work with their lab instructors to find a mutually agreeable time. All makeup exams will be in essay, short essay and short-answer format. Problems with Team Members If a team member’s lack of contribution is hurting the team’s progress, the team should carefully document relevant issues, and meet with their lab instructor. If the issues cannot be resolved, the team member may be fired by unanimous vote of all team members and approval of the instructor. If this happens, the fired team member will be expected to complete all remaining team assignments on his/her own. The group presentations will be replaced with individual written analyses. These assignments are due the same date that groups make their presentations. The same late penalties apply. The Golden Rule Academic dishonesty in any form will be dealt with strictly in accordance with UCF Academic Behavior Standards in The Golden Rule: A Handbook for Students and the UCF Undergraduate Catalog. Please review the Golden Rule to learn your rights, obligations, and responsibilities. The Golden Rule is available at http://www.goldenrule.sdes.ucf.edu/ 8
    • Both the presentations and the individual paper require substantial research. You are expected to use a variety of resources to complete your work. You must cite your source material thoroughly. This includes a complete bibliography as well as references embedded into the text of the paper. This concern is less critical in your presentations. However, an interested party should be able to deduce from your paper specific references utilized in the presentation. Cheating, Plagiarism, and Academic Dishonesty The lab instructors and I have a strict “Zero Tolerance” policy towards cheating, plagiarism, and academic dishonesty as they relate to all aspects of the course, its assignments, exams, and all other activities. Any student caught violating any policy in the Golden Rule Handbook will receive an “F” for the semester and will be immediately dismissed from class. The student will also be referred to Student Judicial Affairs for further potential sanctions. Turnitin.com Your written Industry Analysis and Strategic Analysis must be submitted to Turnitin.com by the date the assignment is due. Your lab instructor will provide you instructions for how to interface with the Turnitin.com Web site. Although your paper may be returned to you with a grade, no grade is final until a satisfactory report from Turnitin.com has been received. Turnitin.com has several good sources of information for you to investigate: For a good definition of what plagiarism is, see: http://turnitin.com/research_site/e_what_is_plagiarism.html For hints on how to avoid plagiarism, see: http://turnitin.com/research_site/e_preventing_p.html For facts about plagiarism, copyright law, and fair use, see: http://turnitin.com/research_site/e_faqs.html Saying “I did not know” is not a viable excuse for plagiarizing material. In addition, being sloppy with paraphrasing and referencing are not legitimate excuses. If you plagiarize, then we can only assume that it was your intent to be deceitful. One of the best ways to avoid the temptation of plagiarism is to get an early start on your paper rather than waiting until the last moment. The temptation to cut corners gets greater as the due date for an assignment nears. It is better to hand in a paper a day or two late (and be penalized for a late paper) than to fail the course. 9
    • Weekly Lecture Schedule MAN 4720 – Summer 2008 Date Readings Monday, 5/12 Course Introduction Introduction to Strategic Management Chapter 1 Monday, 5/19 Leading Strategically Through Effective Vision and Chapter 2 Mission Examining the Internal Environment: Resources, Chapter 3 Capabilities, and Activities Monday, 5/26 No class—Memorial Day Holiday Lab sections, except those that meet on Monday, 5/26, will meet as usual. Monday, 6/2 Examining the External Environment: Macro and Chapter 4 Industry Dynamics Creating Business Strategies Chapter 5 Monday, 6/9 Creating Business Strategy for Dynamic Contexts Chapter 6 Review for Midterm Exam Midterm Exam Week (Chapters 1-6) Monday, 6/16 Developing Corporate Strategy Chapter 7 Monday, 6/23 Understanding Alliances and Cooperative Strategies Chapter 9 Studying Mergers and Acquisitions Chapter 10 Monday, 6/30 Organizational Structure, Systems, and Processes Chapter 11 Considering New Ventures and Corporate Renewal Chapter 12 Monday, 7/7 Corporate Governance in the Twenty-First Century Chapter 13 Review for Final Final Exam Week (Chapters 7, 9, 10, 11, 12 and 13) 10
    • Friday, 7/11 The Great Capstone Case Competition Semi-Finals (4:00 pm – 5:30 pm) Finals (6:00 pm – 7:30 pm) 11