Strategic Management

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  • 1. Stevens Institute of Technology Howe School of Technology Management Syllabus MGT 725(A) Strategic Management Fall 2006 Mondays/6:15 – 8:45pm Dr. Ann Mooney Office Hours: Mondays and Wednesdays, Email: amooney@stevens.edu 4 – 5pm Phone: 201-216-5056 Fax: 201-216-5385 Class Website: See Webct (email contact is preferred) Overview An interdisciplinary course which examines the elements of, and the framework for, developing and implementing organizational strategy and policy in competitive environments. The course analyzes management problems both from a technical- economic perspective and from a behavioral perspective. Topics treated include: assessment of organizational strengths and weaknesses, threats, and opportunities; sources of competitive advantage; organizational structure and strategic planning; and leadership, organizational development, and total quality management. The case method of instruction is used extensively in this course. Prerequisites: MGT 600, 607 and 690 Relationship of Course to Rest of Curriculum The Strategic Management course is designed to integrate and apply as much of your knowledge and experience that you have developed and will develop throughout your career and graduate program curriculum. Indeed, the problems and issues of strategy formulation and implementation cover the whole spectrum of business, management, and ethics. Many variables and situational factors must be dealt with at once. Weighing the pros and cons of strategy entails a total enterprise perspective and a skill for judging how all of the relevant factors add up to shape what actions need to be taken. This makes the study of strategic management quite fun and challenging, as it is a “big picture” course that will require you to constantly tap into your experience and knowledge of all areas of business and integrate that knowledge to craft and implement the most appropriate strategic plan.
  • 2. Learning Goals 1. 1. To develop an understanding of the elements of the Strategic Management process, research and theories. 2. To learn how to apply the Strategic Management process to real life business cases, including current world/business news, and develop recommendations to help firms create and sustain competitive advantage. 3. To improve your oral and written communication skills through the use of various team and individual assignments, as summarized in the table below. 4. To develop an appreciation for the general manager’s cross-functional perspective of complex problems and the decision making process required to build strategy in organizations. Pedagogy The course will employ lectures, class discussion, in-class individual and team assignments, and individual and team homeworks and projects. The individual assignments will include an analysis and presentation of current industry news that demonstrates a particular topic discussed in class, and two analyses of written cases in which the student develops strategic recommendations. The team assignments will include a semester-long project in which the team analyzes an actual company and develops a strategic plan that they present to the class. Required Text(s) Porth, S. (2003) Strategic Management: A Cross-Functional Approach, First Edition, Prentice Hall: New Jersey. ISBN# 0-13-042213-4 Required Readings Other readings (mostly articles and/or cases) will also be required for most classes. See the course schedule below for a detailed list. Those readings will be available on webct or you will be distributed in class. Assignments Participation To get the most learning from this course, you must actively participate in the classroom experience. Participation first means coming to class. Participation also means actively participating in the classroom experience. Your participation will be graded at the end of the semester. Attendance will be taken and recorded using nameplates that you must pick up at the beginning of class and return at the end of class. (Do not take nameplates home with you.) 2
  • 3. Case Memos Each student will write 2 case memos that include an analysis of a business case discussed in class. This memo should be addressed to the top management of the company that is the subject of the case, as a consultant engaged by the company to assess their strategic issues. Like the presentation, the memo should include an in-depth analysis of the company’s current situation and offer strategic recommendations. This memo should be 5-6 pages in length, double-spaced, but can have unlimited exhibits, figures, and attachments. All memos are expected to make use of exhibits, figures and attachments. News Analysis To get practice applying strategic theory, we will study current business events that illustrate strategic concepts learned. To help with this, each student will identify and analyze a current business event that illustrates a strategic management topic covered in class. See course schedule for a summary of topics. The analysis should be in the form of a 3-5 page double-spaced paper and should be submitted by the due date announced by the instructor. The paper should include a brief (one paragraph) summary of the article with the remainder of the paper focused on analyzing how it relates to course concepts. Students can also include their assessment of what they expect will happen to the firm as well as recommendations for strategic improvements. Team Member Evaluation Students will form teams of about 5 persons on the first day of class. You will work in these teams throughout the semester. At the end of the course, you will evaluate your teammate contributions to the team assignments. This evaluation will be factored into the final grade to adjust for any members that do more or less than their share of the team’s work. You will also complete a mid-term evaluation of your teammates. However, this is for my information only, and will not be factored into your grade. Of course, I also encourage and welcome you to come see me at any point during the course to confidentially discuss teammate issues. Strategic Plan A significant part of the course requirement is a major, semester-long project in which your team will develop a strategic plan for an actual company that your team has chosen. The plan will include an analysis of a firm’s internal and external environment and recommendations for how to create and sustain long-term competitive advantage. Oral Presentation At the end of the semester, your group will formally present its strategic plan to the class. Written Report: The Strategic Plan will culminate in a written report that summarizes the team’s analysis and findings. I will provide you an outline for the strategic plan at the beginning of the semester that will correspond with topics discussed. Deliverables: Throughout the semester, you will be assigned various “deliverables” that will focus on an aspect of your strategic plan. These deliverables will be graded on a pass/fail basis and will provide an opportunity for me to give you advance feedback on your report. 3
  • 4. Assignment Grade Percent Class Participation 20 2 Case Memos 30 News Analysis 10 Team Member Evaluation 5 Team Oral Presentation of Strategic Plan 10 Team Written Presentation of Strategic Plan 20 Periodic Strategic Plan Deliverables 5 Total Grade 100% Ethical Conduct The following statement is printed in the Stevens Graduate Catalog and applies to all students taking Stevens courses, on and off campus. “Cheating during in-class tests or take-home examinations or homework is, of course, illegal and immoral. A Graduate Academic Evaluation Board exists to investigate academic improprieties, conduct hearings, and determine any necessary actions. The term ‘academic impropriety’ is meant to include, but is not limited to, cheating on homework, during in-class or take home examinations and plagiarism.“ Consequences of academic impropriety are severe, ranging from receiving an “F” in a course, to a warning from the Dean of the Graduate School, which becomes a part of the permanent student record, to expulsion. Reference: The Graduate Student Handbook, Academic Year 2003-2004 Stevens Institute of Technology, page 10. Consistent with the above statements, all homework exercises, tests and exams that are designated as individual assignments MUST contain the following signed statement before they can be accepted for grading. ____________________________________________________________________ I pledge on my honor that I have not given or received any unauthorized assistance on this assignment/examination. I further pledge that I have not copied any material from a book, article, the Internet or any other source except where I have expressly cited the source. Signature ________________ Date: _____________ Please note that assignments in this class may be submitted to www.turnitin.com, a web- based anti-plagiarism system, for an evaluation of their originality. 4
  • 5. Course Schedule (can folw instructor’s own style) Week MODULE: Topics Text Article Readings Case Dates Strategy Process Step Readings Readings 1 8/28/06 M1: Overview of the Introduction to Class Ch. 1 & 2 “The Origin of Strategy” HBR. Strategic Management Creating Value Field 2 9/11/06 M2: Develop Mission The Concept of Strategy Chs. 3 & Vision Mission & Vision 3 9/18/06 M3: Perform Internal Performance Assessment Ch. 4 “Looking Inside for Competitive 4 9/25/06 Audit Strengths & Weaknesses Advantage” HBR. Core Competencies “The Core Competence of the Financial Assessment Organization” HBR. Merrill Lynch Guide to Financial Case #1: Statement Analysis. Nordstrom “Fuzzy Numbers” Business Week. 5 10/2/06 M4: Perform External Environment Segments Ch. 5 “How Competitive Forces Shape 6 10/10/06 Audit Industry Analysis Strategy.” HBR. (a tues.) Benchmarking “Charting your Company’s Case #2: Future.” HBR. Apple 7 10/16/06 M5: Set Objectives &  Generic Strategies Ch. 6 “From Competitive Advantage to Case #3*: Craft Strategy  Overview of Corporate, Corporate Strategy.” HBR. Virgin Business, and Functional- 8 10/23/06 Level Strategies “Are You Sure You Have a Diversification (through Strategy?” AME. 9 10/30/06 M & A, strategic alliances, 10 11/6/06 joint ventures, and internal “Fast Follower”. HBR. development) Ch. 7 Case #4:  Financial Forecasting Boeing The human element of strategy (CEOs, TMTs, & BODs)
  • 6. 11 11/13/06 M6: Implement  Managing Resources Chs.8-9 “Why Can’t We Get Anything Case #5*: Strategy & Assess & Issues Done?” Fast Company. Silvio Napoli 12 11/20/06 Value Creation Assessing Value Ch. 10 “Why be Honest if Honesty Creation Doesn’t Pay?” HBR Ethics 13 11/27/06 M7: CSR & ETHICS Exploring the reasons 11/28/05 1-“I was greedy too.” Harvard for recent ethical Business Review. Order on-line: scandals in Corporate http://harvardbusinessonline.hbsp. America harvard.edu/b01/en/common/item _detail.jhtml?id=R0302B 14 12/4/06 STRATEGIC Teams will turn in written PLANS DUE strategic plans and will also discuss plans. There is no class on Labor Day (9/4) and Columbus Day (10/9). * CASE ANALYSIS due. 6