Spring 2004


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Spring 2004

  1. 1. Management 478 Business Policy and Strategic Management Section C1 Spring 2004 Instructor: Brad Shrader, Ph.D. Office Hours: 10-11amTuesday/Thursday 3185 Gerdin Business Building 294-3050 (office) cshrader@iastate.edu Facsimile - 294-7112 http://www.bus.iastate.edu/cshrader/ Prerequisites: Mgt. 370; POM 320; Fin. 350; Mkt. 340; Trnlog 360, graduating senior. Required Text: Strategic Management: Competitiveness and Globalization (Concepts and Cases), 5th edition, by Hitt, Ireland and Hoskisson, South-Western, 2003. Course Description: This course is about the strategic management of firms and about developing a “top management point of view.” This refers to the manager’s ability to consider issues, problems, and decisions with regard to the total organization. Such a perspective enables all levels of management to gain an appreciation for the complexities involved in managing a formal organization and an understanding of the organization’s relationship to its environment. Furthermore, students will gain an understanding of the relationship between their functional specialty (i.e. accounting, finance, marketing, transportation, MIS, production, personnel, etc.) and the overall operation of the firm. The ISU Bulletin describes Management 478 as follows: “Strategy formation, implementation, and evaluation and control in today’s organizations. Emphasis is on strategic planning and decision making using the case method and/or projects.” The assignments contained in this outline fulfill this description. There are two major educational objectives tied to this course. One is to present current thinking and research related to the corporate and competitive strategies of firms. The other is to provide each student with an opportunity to “integrate” what they have learned from previously taken business courses. Specifically, strategic management/business policy considers the organization’s mission, goals, policies, structure, technology, and strategy within its competitive environment; thus allowing an analysis of the long and short-term implications of decisions and actions. Strategic management also considers how a decision made in one functional area affects other functions and the organization as a whole. The course will attempt to simulate this decision environment through case discussions and presentations. Cases will provide the chief means by which students learn to integrate knowledge from the various functional areas in making decisions. - Students needing special learning accommodations should make them known to the instructor as soon as possible.
  2. 2. Course Requirements: Examinations – Midterm #1 - essay, 15 points Midterm #2 - essay, 15 points Midterm #3 – essay, 15 points Agile Consulting Case Final – online- essay, 20 points Participation – Attendance – expected of all students Participation in class discussion/case discussions – 15 points Case presentation content – team project presented in class - 15 points Case presentation participation – extent to which each student helped team - 5 points Total – 100 points, (85% individual, 15% team) No assignments will be accepted late. Exams: There will be three essay exams during the semester. Reviews will be undertaken prior to each exam and the dates are listed on the course outline – so plan in advance. The exams are weighted equally. The goal of the midterms is to examine student understanding of content material covered in class and in the text. The major evaluation criteria used in grading exams will the accurate, comprehensive and appropriate application of course material to the relevant question. Also considered will be the diction, sophistication, consistency, legibility, and clarity of responses. Please bring a blank blue book (exam book) to class on exam day. In responding to exam questions, write on the front and back of every page of the blue book. Failure to do this will result in the loss of points. Please limit the length of your responses to one blue book and please use a black ink pen. I will retain all exam blue books. Students wishing to appeal an exam score must do so in writing. Students missing an exam will be required to write a paper/case analysis (in lieu of a make up exam) on an assigned topic and submit it within one week of the scheduled exam. Exams will be graded and reported the following class period. Descriptive statistics for each exam will also be reported. Students are encouraged to check their exam scores and overall grade standing in the course with me anytime during the semester. Participation/case discussions and presentations: In-class case discussions are designed to help students apply the concepts from the readings and lectures. During the course of the semester each student will be called upon to discuss cases in class. Each student will also take part in one formal case presentation. Team and case assignments will be made during class organization and are listed on the assignment and lecture schedule of this outline. Presentations are to be professional and informative. Individuals and teams will be graded as a whole on how well the case problem is analyzed, related to course material, and on how well solutions are presented. Also, the presentation should stimulate class discussion. Teams should be creative in their analyses and innovative in using their own ideas and approaches to the cases. Each team member should read the assigned case as soon as possible. Each individual will be graded on class participation, which means the contribution made to class discussion and to the team’s analytic efforts. Informal presentations will be assigned to teams and the instructor will ask for case comments in class. The instructor will keep a journal of daily class proceedings. Also, a confidential peer review of each student, by the assigned team, will be completed at the end of the course. These reviews will be used as input in evaluating individual contributions to case preparation and to team performance. The peer review will be worth five points. Agile Consulting Case – Final This is an integrative exercise designed to help students apply concepts learned in the course. During the semester, each student will be asked to take the role of a consultant and render a decision based on an on- line case. Details for this assignment will be given the first two weeks of class, and the URL is: http://weblearning.engl.iastate.edu/business/. This exercise constitutes the final exam for the course and is not optional.
  3. 3. Grading: 94-100% = A 80-82% = B- 67-69% = D+ 90-93% = A- 77-79% = C+ 63-66% = D 87-89% = B+ 73-76% = C 60-62% = D- 83-86% = B 70-72% = C- < 60% = F Assignment and Lecture Schedule: Date Topic Chapter # Case # 1/13 Class organization Read presentation case 1/15 Strategic Management 1 35 (Virgin Grp.) 1/20 Mission/objectives/strategies 8 (BBC) Agile Consulting 1/22 External Environment 2 1/27 Five Forces Model/Industry Analysis Agile Consulting 1/29 Internal Environment 3 7 (Boeing) 2/3 Review 2/5 Exam #1 2/10 Business-Level Strategy 4 10 (ChicagoTrib) 2/12 Generic Strategy 2/17 Competitive Dynamics 5 4 (AmBev) 2/19 Corporate-Level Strategy 6 Agile Consulting 2/24 Corporate-Level Strategy 9 (Caterpillar) Agile Consulting 2/26 Acquisition and Restructuring Strategy 7 26 (Newell Co.) 3/2 Review 3/4 Exam #2 3/9 International Strategy 8 28 (Otis Elev.) 3/11 Cooperative Strategy 9 5 (B&O) 3/16-18 Spring break
  4. 4. 3/23 Corporate Governance 10 Agile Consulting 3/25 Organization Structure and Controls 11 23 (Lufthansa) Date Topic Chapter # Case # 3/30 Structure/Departmentalization Agile Consulting 4/1 Strategic Leadership/Corp. Culture 12 4/6 Strategic Leadership/Corp. Culture 27 (Nike) 4/8 Entrepreneurship and Innovation 13 4/13 Exam #3 4/15 Case analysis/workshop Preparing an effective case analysis - recommended 4/20 Cisco and Dell 11 and 12 4/22 eBay and FedEx 13 and 15 4/27 PricewaterhouseCoopers and Monsanto 33 and 25 4/29 Palm and Sony 29 and 34 5/3-7 Final exam – due as scheduled (20 points) Exam review questions: Exam #1 • Chapter 1 Review Questions: 1,4,5,6,7, and 8. (page 33) • Define: mission, SWOT, objectives, strategies. What constitutes a strategic plan? • Chapter 2 Review Questions: 5,6, and 7. (page 68) • Define: entry barrier, substitute product, bargaining power of buyers/suppliers, threat of new industry entrant, strategic group. • Discuss the five forces model of industry competition. • Define: competitive intelligence. • Chapter 3 Review Questions: 4-7. (page 102) • Describe the environment of your case company using the forces that drive industry competition (Five Forces/Porter model). Exam #2 • Chapter 4 Review Questions: 1-5. (page 142) • Give a definition and example of the following generic strategies: a) cost leadership, b) differentiation, and c) focus. Which strategy best describes your case company? • Chapter 5 Review Questions: 2, 4, 5 and 6. (page 176) • Chapter 6 Review Questions: 1-7. (page 207) • Chapter 7 Review Questions: 2-6. (page 235) • Define: growth strategy, concentration, horizontal integration, vertical integration, concentric diversification, conglomerate diversification, downsizing, restructuring.
  5. 5. Exam #3 • Chapter 8 Review Questions: 2, 3 and 7. (page 270) • Define: Global strategy, transnational strategy, multi-domestic strategy. • What are the key determinants of national competitive advantage? • Chapter 9 Review Questions 1-4 and 6. (page 299) • Chapter 10 Review Questions: 1, 4, 7 and 8. (page 335) • Who is the CEO of your assigned case company? • What recommendations would you make to improve the effectiveness of today’s boards of directors? Discuss the purposes (roles) of the board of directors and how those purposes are reflected in board committee structure. • Chapter 11 Review Questions: 3-6. (page 378) • Define: functional structure, product/divisional structure, matrix structure, network structure, SBU, geographical structure. Which structure best describes your case company? • Chapter 12 Review Questions: 4 and 7. (page 408) • What is corporate culture? What major attribute describes it for your company? Is your case company’s culture excellent? Why? • Chapter 13 Review Questions: 5 and 6. (page 433) Case Presentation Questions: 1. Describe the competitive environment for your team’s assigned case company. Analyze the industry and point to major competitive issues (apply 5 forces/SWOT). 2. Describe the competitive and corporate-level strategies portrayed by the company. How do they compete? What business are they in? Are they diversified? Focused? What international, cooperative and/or entrepreneurial strategies do they employ? 3. What competitive advantages does the firm possess? Give evidence of advantage, skill, or competencies. 4. What does the future look like for the firm? What are your recommendations for continued future success? Case presentation guidelines: • Answer the questions using as much course material as possible – the exercise is worth 15 points • Involve the entire team in the analysis and presentation • Use the case as the sole basis for your presentation – do not contact the company for information • Take fifteen minutes to make your presentation – use five minutes at the end for questions/follow-up – twenty minutes total! • Have some sort of follow-up/conclusion that involves the class in your presentation • You do not have to dress in business attire – be comfortable but professional • Those presenting should stand together at the front of the class while presenting • Those not presenting should take notes for the final • Listen politely as others present their work! Be courteous, enthusiastic, have fun – help us all to learn about these interesting companies! • This assignment entails an in-class presentation only, no formal paper is required
  6. 6. Peer Review – (5 points): Your name: Contribution to presentation Team member name Points (0-5)* Comments on contribution** __________________ _________________________ _________________________ __________________ _________________________ _________________________ __________________ _________________________ _________________________ __________________ _________________________ _________________________ __________________ _________________________ _________________________ __________________ _________________________ _________________________ * Allocate to each member of the team points ranging from 0-5 depending on amount of effort contributed to team analytic efforts. Zero should be reserved for those not participating in the exercise. Five points should be awarded to significant contributors. **Make a statement about each team member’s contribution. Use descriptive phrases such as, “organized slides for presentation, wrote discussion questions, initiated group meetings outside of class, etc.” Do not use general statements like “did a good job, or helped a lot.” Due last day of class.