STRATEGIC MANAGEMENT

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STRATEGIC MANAGEMENT

  1. 1. BS 492 04/26/05 Aquinas College CASES IN BUSINESS POLICY SYLLABUS BS 492 Quad Instructor: Gary Kieff Office: JC 131 Home: 784-1289 616-632-2929 gary@kieff.com Course Homepage http://www.kieff.com/gary/BS492 Text: STRATEGIC MANAGEMENT Competitiveness and Globalization Michael A. Hitt, R. Duane Ireland, Robert E. Hoskisson, South-Western, 2001 (Fifth Edition) ISBN: 0-324-11479-6, http://hitt.swcollege.com/ Course Description: A case oriented course focusing on organizational strategy and its implementation through top-level management. Course Objectives: Common to all sections of BS 492, and will be the focus of assessment. That each student will... • Determine the economic environment • Determine appropriate alternatives, • Determine the financial position of the with stated strengths and company through an analysis of the weaknesses, for dealing with the financial statements use of ratios etc. problem (s)/issues in the case. • Determine the current marketing strategy • Determine the most appropriate of the company (products, services, target course of action to be taken. markets, marketing mixes, competition, • Explain how the chosen course of etc.) action will be implemented. • Determine the management philosophy • Write a comprehensive analysis of and/or style in place. the case. • Define and articulate the problem of the • Give a comprehensive oral case. presentation of the case to peers. Instruction: Readings, discussion, case analysis, and small group work. Grading: Grading Scale Article Summaries (5 @ 20 pt.) 20% 100 pt. 95% = A 90% = A- Strategic Audit Worksheet (3 @ 20 pt.) 12% 60 87% = B+ 84% = B Exam (2 @ 50 pt.) 20% 100 80% = B- 76% = C+ Team Members Evaluation (2 @ 20 pt.) 8% 40 74% = C 70% = C- Case Presentation Class Evaluation 10% 50 Instructor Evaluation 10% 50 Strategic Analysis Written 20% 100 500 total pt. Participation: Since exchange is a necessary component of learning, students are expected to attend all class periods, come to class prepared for the discussions, and take an active part in work groups and class discussion. I will do everything to make each class productive, but hope it will be a little fun as well. 1
  2. 2. BS 492 04/26/05 CASES IN BUSINESS POLICY Course Outline Sessions Chapters 1 Oct. 28 Introduction and Overview Strategic Management & Social Responsibility 2 Nov. 4 Environment Scanning 1, 2, 3 What’s Business For? Due (1 page summary) 3 11 Business Strategy & Corporate Strategy 4, 5, 6, What Really Works Due (1 page summary) C – p. 437 (C.i- C.xvii ) 4 18 Exam 1 Due (ch. 1-6, C.i-C.xvii) Strategy as Revolution Team Evaluations #1 5 25 Acquisitions, International, & Cooperative 7, 8, 9 SA – Dell p. C. 153 Strategy, Value, Innovation, and the Knowledge Economy Due (1 page summary) Strategic Stories: How 3M is writing business Planning 6 Dec. 2 Governance 10, 11 Robust Adaptive Strategies Due (1 page summary) 7 9 Strategic Leadership & Entrepreneurship 12, 13 Presentation Case #1 – SA Presentation Case #2 – SA 8 16 Exam 2 Due (ch. 7-13) Presentation Case #3 – SA Team Evaluations #2 22 Strategic Analysis Written Due if email Academic Honesty: Written or other work that a student submits must be the product of her/his own efforts. Plagiarism, cheating and other forms of academic dishonesty, including dishonesty involving computer technology, are prohibited. Further information on Academic Dishonesty can be found in the current college catalog. 2
  3. 3. BS 492 04/26/05 DESCRIPTION OF ASSIGNMENTS ARTICLE SUMMARIES For specified reading assignments, a one-page summary of the author's key points will be required. The point here is to discuss what the author said, not your opinion, save that for class. The key criteria are: clarity, accuracy, presentation, and understanding. Clarity Managers need be able to express themselves clearly and succinctly. I should be able to understand the author's main points, the first time I read it. The information should be organized so thoughts flow smoothly and logically. Accuracy Key points should be included and presented from the author's viewpoint. Comments about key points should reflect your understanding of the author's position. Presentation Grammar, format, style. The paper should be typed and single spaced. Language should be appropriate to a formal report. Appearance will count. Understanding One page summaries are excellent devices for sharpening thinking and writing skills. It forces hard choices on what to include, and more importantly, on what to leave out. I expect these summaries to be clear, concise statements of the important concepts and to be presented in a manner than reflects your understanding of what the author means, not a restatement of what he/she said. STRATEGIC AUDIT WORKSHEET (SA): Case preparation For the cases identified on the Course Outline in bold type and preceded by SA, each student will read the case and complete the SA (Strategic Audit Worksheet) prior to class. Including case financial work sheets. After the initial case, the SA may be completed as a group. EXAMS There will be two take homes exams consisting of 50 multiple choice and true and false questions covering text and material presented in class. TEAM MEMBER EVALUATIONS The first night of class teams of 5 – 7 will be formed. Theses teams will used to complete the Group Cases, the Country Presentations and for collaboration and support for members. Three times during the course, see Course Outline, team members will fill out an evaluation form on each team member’s contribution. STRATEGIC ANALYSIS - CASE PRESENTATION The class will be divided into teams and each team assigned one case to prepare and present to the class. Those not presenting will prepare an SA from the material in the text. The presenting group will need to bring the case up to date. The data in the text is usually at least two years old. When presenting your case be creative, you job is to make us familiar with the company, its current situation, possible strategic alternatives 3
  4. 4. BS 492 04/26/05 (with advantages and disadvantages) and convince us your alternative is the best. There is no one right way to present a case but the STRATEGIC ANALYSIS WRITTEN ANALYSIS outline, below, is a good generic guide for the presentation as well. The presentations are usually 45 to 60 minutes, followed by questions. The team making the presentation need not turn in a Strategic Audit on the case. (see Case Presentation Assessment form) STRATEGIC ANALYSIS - WRITTEN (the final paper) Each team will prepare a written strategic analysis of the case assigned to the team. All papers should have the following or similar sections (complete with section headings): Company Profile - briefly describe the firm. At minimum discuss the industries and markets in which the firm competes. Clearly indicate the companies current situation. Environmental Analysis (External & Internal, include financials) - describe and analyze the firm’s task/industry environment, the macro environment and internal environment. You will have to do research on the industry in order to do this analysis. Evaluate both the present profitability and future potential of the industry. To support your assertions about current profitability, use Porter's methodology and refer to an analysis of key industry norms and financial indicators. When discussing the macro environment, threats and opportunities remember we are looking for trends outside the company. Ending with a good solid SWOT. Analysis Of Corporate Strategy - describe and categorize the type of corporate strategy (e.g., vertically integrated global firm) the firm is following and whether this is driven by strategic motives (to improve the performance of the core business) or financial considerations (to spread risk). Often organizations make multiple decisions about the strategic direction of the firm at a corporate level. If your firm is doing this, you will want to assess whether there appears to be a coherent plan unifying all of these decisions, or whether you think they were made independently. If there is a unifying plan at the corporate level, explain what the organization is trying to do. If not, you may want to concentrate on the one or two corporate moves that you believe are most significant to the firm's survival. Assess your company's critical strengths and weaknesses using either the concept of core competency or Porter's value chain approach. Analyze this strategy in light of your SWOT analysis. Analysis Of Business (Competitive) Strategy - describe and categorize the type of business strategy (e.g., overall cost leadership, focused differentiation in a single niche, etc.) the firm is following in its core industry, then analyze how well it addresses environmental issues while capitalizing on the firm's strengths and avoiding its weaknesses. Strategic Recommendations - Based upon your previous analysis, what recommendations would you make to improve your organization's ability to gain competitive advantage? Justify your ideas. As with the Strategic Audit Worksheet State at least three recommendations with a full discussion of the advantages and disadvantages of each. Select one and support it. (see Company Analysis Assessment form) 4
  5. 5. BS 492 04/26/05 GUIDELINES FOR PAPERS Your assertions must be argued using a combination of facts, expert opinion, theory, and logic. The opinion from an expert can be used as evidence in making your argument. However, you should give your readers enough information for them to determine whether this source is reliable. To make an effective argument do not oversimplify complex issues. If contradictory evidence exists, you must present and deal with it. All sections of your paper should tie together. For example, if you discuss a specific strength in the internal analysis, be sure to analyze whether or not the strategy is taking advantage of this strength. One way to ensure the coherence of your paper is to see that all of your recommendations flow from previous analysis. Paper Format Papers should be approximately 15 - 18 pages, typed, properly referenced and have margins of at least 1". Paper organization: Title Page Table of Contents Introduction Body (Company Analysis) Conclusion or summary References Appendix (if appropriate) Quality, not quantity, is the key. I will be looking for the organization of the material presented, the conciseness and clarity of presentation, spelling and grammar, and the logic and depth of your analysis and presentation. Your grade will be based upon how well you can demonstrate your understanding of critical strategic management concepts and can apply them by making a strong argument to support your conclusions. Take a stand and defend it! RESOURSES TEXT: http://www.swcollege.com/management/daft/daft.html AQUINAS WOODHOUSE LIBRARY To access these indexes and databases, you must be an Aquinas College student, faculty or staff member. Off-Campus users must follow the off campus access instructions before using these databases. Access requires the last 6 digits of you student number. http://www.aquinas.edu/library/data.html#bus : The Aquinas Library online databases. http://www.sc.edu/beaufort/library/bones.html : A bare bones tutorial for conducting web searches. (for some strange reason you will need to cut and past the url, it is not loading with a mouse click The Spider's Apprentice: A Helpful Guide to Search Engines 5
  6. 6. BS 492 04/26/05 6
  7. 7. BS 492 04/26/05 STRATEGY SEC (EDGAR) US Securities and Exchange Commission U.S. Census Bureau Corporate Governance Wharton School of Business Hoover's.com financial information source Research company financial information online Fortune 500 list Strategy + Business Journal http://bea.gov/ Bureau of Economic analysis http://www.bls.gov Bureau of Labor Statistics http://www.lib.washington.edu/business/bizweb/ University of Washington Library, many items open to all MANAGEMENT Intro. to Theory of Management An excellent source for information about seminal contributors American Management Association A membership organization for managers. Has search and articles Peter Drucker Speaks by Newt Gingrich Forecasts 2002 : World Future Society Knowledge Management Robert Greenleaf: Servant Leadership Voice of the Shuttle. A web site offering a variety of articles on the Post Industrial Organization Marvin Weisbord: Building Communities at work. Thomas Stewart: The Wealth of Organizations Warren Bennis Organizational Structure and Design Wharton School of Business Learning-Org Dialog on Learning Organizations Knowledge Management SUSTAINABLE BUSINESS: Business for Social Responsibility Economic Policy Institute: Sustainable policy World Business Council for Sustainable Development Center for Environmental Leadership SEARCH ENGINES Google Yahoo! AOL NetFind HotBot LookSmart Lycos Alta Vista Ask.com Dogpile.com 7
  8. 8. BS 492 04/26/05 CASE PRESENTATION Group ____________ Date ____________ Please rate each question from 1-10, 10 being the best. 1. Presentation of relevant facts ______ 2. Current mission, goals and strategies ______ 3. Strategic Factors ______ 4. Alternatives - advantages/disadvantages ______ 5. Strength of recommendation ______ 6. Implementation policies ______ 7. Anticipated Questions ______ 8. Organization/flow ______ 9. Lively/interesting ______ 10. Know what they are talking about ______ Overall, I would grade the teams presentation as: C or lower ____ B-____ B____ B+____ A-____ A____ Comments Content Presentation 8
  9. 9. BS 492 04/26/05 COMPANY ANALYSIS ASSESSMENT FORM NAME _________________________ PAPER ____________ COMPANY PROFILE - 10 pt. COURSE ____________ Clearly and succinctly gives background, current situation, and information required to understand the analysis that follows. Industries and markets ENVIRONMENTAL ANALYSIS - 20 pt. Macro Trends identified Industry Clearly defined industry Sufficient data on trend and financial/interpretation reasonable Identification and analysis of significant forces - supporting evidence Rivalry Entry barriers Buyer power Supplier power Substitutes Opportunities identified and reasons clearly argued Threats identified and reasons clearly argued Verifiable evidence supporting arguments consistently provided Internal Strengths identified - reasons clearly and correctly argued Weakness identified - reasons clearly and correctly argued ANALYSIS OF CORPORATE STRATEGY - 20 pt. Description is specific and well documented Categorization appears reasonable Reasons for categorization clearly stated Motive for strategy (financial/strategic) adequately described and argued ANALYSIS OF BUSINESS (COMPETITIVE) STRATEGY - 20 pt. Description is specific and well documented Categorization appears reasonable Reasons for categorization clearly stated GENERAL ANALYSIS - 10 pt. Persuasively argues how well strategy: deals with industry forces takes advantages of opportunity takes advantage of strengths avoids weakness avoids threats RECOMMENDATIONS - 10 pt. Reasonably follows from previous analysis Persuasively argued. PAPER ORGANIZATION - 10 pt. easy to follow Sources cited Follows required format Purpose clearly communicated Presentation – packaging Demonstrates understanding of course I have tried to give you a good general idea of my reactions and the issues I considered pertinent when assigning a grade. If you would like to discuss your paper in greater detail, please contact me and we will find a time to get together. 9
  10. 10. BS 492 04/26/05 Team Member Evaluation Rater: Date: To what extent are the following statements true about the teams member' group involvement for this rating period. A Little Somewhat Moderately Mostly Very True True True True True 1 4 6 8 10 Team Member Task Functions 1. Keeps the team focused on tasks 2. Helps the team come to decisions 3. Present relevant facts or information 4. Completes group assignments at a high quality level 5. Suggests new ideas/way of approaching problems 6. Ask for relevant facts or information 7. Clarifies the relationships among the various ideas 8. Checks with the team to determine if the group is ready to make a decision or take some action 9. Takes assignments seriously 10. Produces evidence of spending adequate time on team project outside of class Group Building Functions 11. Recognizes group member contributions 12. Facilitates team discussions 13. Helps team members to make contributions by bringing them into team discussions 14. Is a good listener 15. Has ability to work in a team setting 16. Offers objections to view points constructively 17. Challenges the team to do excellent work 18. Contributes to the " fun" atmosphere of the team 19. Shares leadership and does not dominate the team 20. Overall team contribution rating Comments: (use back if needed) 10
  11. 11. BS 492 04/26/05 CASE SELECTION LIST American Airlines (2002) Pummeled by poor profits, recession, terrorism, the US airline industry is having trouble. How will the company return to profitability? Apple Computer, Inc. (2000): Cofounder Steve Jobs return to Apple to successfully implement a turnaround strategy to save the financially troubled firm. What next? The Body Shop International PLC (1999) The Body Shop takes great pride in emphasizing the company's global corporate citizenship through its policies and corporate culture. Will increasing competition and operational difficulties soon force management to reconsider its expansion strategy and its socially responsible policies? Carnival Corporation (2002) With its "fun ships, "Carnival Cruises changed the way people think of ocean cruises. Through acquisition, Carnival expanded its product line to encompass the entire range of industry offerings. How can Carnival continue grow in the industry it now dominates? Harley-Davidson, Inc. (2002) Market demand has increased beyond the company's ability to produce motorcycles and resulted in ever- lengthening customer waiting lists. Encouraged by this unsatisfied demand, new competitors are moving in to the industry and challenging Harley-Davidson's dominant position. The Home Depot (1999) Home Depot has become the world’s largest home improvement retailer. Its stores primarily serve the do- it-yourself repairperson, but the company is attempting to increase its sales to the professional market of contractors, building maintenance people, and interior designers. Kmart Corporation (2002) After years of dominating the U.S. market, Kmart’s sales and profits were both surpassed by Wal-Mart in 1990. A succession of CEOs have struggled to turn around Kmart’s financial decline and to provide a new direction for growth in a mature industry. Larry J. Ellison - Oracle Corporation (2000) Oracle’s application software suite had been having problems. Under the leadership of the company’s founder, Larry Ellison, the firm developed an “e-business suite” of business applications that would hopefully address all of a typical customer’s operational needs. Maytag Corporation (2002) Maytag’s acquisition of Hoover in order to obtain access to European and Australian markets proved a costly failure, resulting in the eventual divestment of its overseas major home appliance operations. Can Maytag continue to profit as a domestic company surrounded by multinational competitors? Reebok International, Ltd. (2002) Along with Nike, Reebok controls over half of the United States and about 40% of the world market share in athletic shoes. Reebok's sales growth has not, however, continued at the fast pace of the 1980s. Its market share is declining and its costs are increasing. Wal-Mart Stores, Inc. (2002) >From its small beginnings in Bentonville, Arkansas, in 1962 as a discount store, Wal-Mart has grown to dominate the North American mass merchandising industry and become a serious competitor in the grocery business. The death of the company founder, Sam Walton, forced a new generation of management to reconsider strategies to continue the firm’s success. Increasing competition and a slowing of sales growth in existing stores is making it difficult to continue the firm’s strategy of constant expansion. Waterford Wedgwood Plc. (2000) Waterford Crystal is a globally known, well respected Irish maker of kitchenware. The Chairman of the Board reports on each of the company’s four units: Waterford Crystal, Wedgwood, Rosenthal, and All- Clad. 11
  12. 12. BS 492 04/26/05 GROUP PROFILE (Please have one member fill out the copy on disk and email to gary@kieff.com (the form can be found at the course homepage www.kieff.com/gary/BS492 Group: First Name Last Name Work #+ Home # E-mail Employer Position Gary Kieff 616-632-2929 616.784.1289 gary@kieff.com Aquinas Assistant Professor 12

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