Week One Lecture Slides


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Week One Lecture Slides

  1. 1. MAN 4720: Strategic Management (The Capstone Course) Dr. Marshall Schminke Spring, 2010 These slides are intended to be a supplement to your class notes, not a replacement for them. For specific references, etc., see me.
  2. 2. Capstone Week 1: <ul><li>Lecture </li></ul><ul><ul><li>Introduction to the course & strategic process </li></ul></ul><ul><ul><li>Introduction to the Capstone team </li></ul></ul><ul><ul><li>A brief tour of the syllabus </li></ul></ul><ul><ul><li>Q: Why are we here? </li></ul></ul><ul><li>Labs </li></ul><ul><ul><li>Introduction to the lab groups </li></ul></ul><ul><ul><li>Begin to form teams </li></ul></ul><ul><ul><li>Better understanding of coming attractions </li></ul></ul>
  3. 3. NEXT week: <ul><li>No Lecture (MLK) </li></ul><ul><ul><li>Yes, labs (except Monday labs) </li></ul></ul><ul><ul><li>Next time: Mission and strategy </li></ul></ul><ul><li>Labs </li></ul><ul><ul><li>Finalize team formation </li></ul></ul><ul><ul><li>Q&A regarding projects </li></ul></ul><ul><ul><li>Hands-on exercises related to strategy </li></ul></ul><ul><ul><li>How to find information </li></ul></ul>
  4. 4. Introduction to the team:
  5. 5. The syllabus: <ul><li>Available at http://www.bus.ucf.edu/capstone/spring </li></ul><ul><li>Click on syllabus </li></ul><ul><li>For now, a quick tour </li></ul>
  6. 6. A note on the books: <ul><li>Michael Porter’s Competitive Strategy </li></ul><ul><li>Michael Porter’s Competitive Advantage </li></ul>
  7. 7. A note on the books: <ul><li>Michael Porter’s Competitive Strategy </li></ul><ul><li>Michael Porter’s Competitive Advantage </li></ul><ul><li>Strategic analysis based on: </li></ul><ul><ul><li>Industry analysis (the five forces) </li></ul></ul><ul><ul><li>Firm analysis (the value chain) </li></ul></ul><ul><li>They are classics, but don’t be fooled by the dates… </li></ul>
  8. 8. A note on the books: <ul><li>They provide the foundation for most of the best current thinking on strategic issues today </li></ul>
  9. 9. They are the foundation of HBS’s current strategy offerings: <ul><li>What is Strategy? ( HBR digital 2008 ) </li></ul><ul><li>How Competitive Forces Shape Strategy ( HBR digital 2008 ) </li></ul><ul><li>From Competitive Advantage to Corporate Strategy ( HBR digital 2008 ) </li></ul><ul><li>The Five Competitive Forces that Shape Strategy ( HBR digital 2008 ) </li></ul>
  10. 10. And they provide the foundation for nearly all strategy texts: <ul><li>Strategic Management: Competitiveness & Globalization by Hitt, Ireland,& Hoskisson (2009) </li></ul><ul><li>Crafting & Executing Strategy by Thompson, Strickland, & Gamble (2008) </li></ul><ul><li>Strategic Management: Creating Competitive Advantages by Dess, Lumpkin, & Eisner (2010) </li></ul><ul><li>Strategic Management: Formulation, Implementation, and Control by Pearce & Robinson (2009) </li></ul><ul><li>Even Strategic Management and Competitive Advantage by Barney and Hesterly (2008) </li></ul>
  11. 11. A note on the books: <ul><li>They provide the foundation for most of the best current thinking on strategic issues today </li></ul><ul><li>This goes beyond just business settings and economic issues </li></ul>
  12. 12. They are the foundation for Porter’s current & recent work: <ul><li>Porter (2008) On Competition, Updated and Expanded Edition </li></ul><ul><li>Porter (forthcoming) Strategic Corporate Social Responsibility </li></ul><ul><li>Porter & Teisberg (2006) Redefining Health Care: Creating Value-Based Competition on Results </li></ul><ul><li>Porter (1998) The Competitive Advantage of Nations </li></ul><ul><li>Plus, Porter’s work on urban development and environmental issues </li></ul>
  13. 13. They are the foundation for important research across a variety of areas: <ul><li>Distribution of environmental costs and benefits, additional distortions, and the Porter Hypothesis ( Land Economics , 2008) </li></ul><ul><li>Implementation of Michael Porter's strategic corporate social responsibility model ( Journal of Global Business Issues , 2008) </li></ul><ul><li>A service -based view of Porter's model of competitive advantage ( International Journal of Management , 2008) </li></ul><ul><li>Porter's business strategies in Japan ( Business Strategy Series , 2008) </li></ul><ul><li>Applying Michael Porter's extended rivalry model to the robotics industry ( The Industrial Robot , 2008) </li></ul><ul><li>Environmental regulation and productivity : Testing the Porter hypothesis ( Journal of Productivity Analysis , 2008) </li></ul><ul><li>Porter's model of generic competitive strategies ( Business Economics , 2008) </li></ul>
  14. 14. Realistically? <ul><li>They’re not comic books </li></ul>
  15. 15. Realistically? <ul><li>They are books and ideas that matter </li></ul><ul><li>They are books and ideas with practical value </li></ul><ul><li>We’ll start with the basics </li></ul><ul><li>And there’s plenty of room to grow, once you have these down </li></ul><ul><li>My belief: You’re grownups. </li></ul>
  16. 16. Back to the syllabus: <ul><li>Look it over </li></ul><ul><li>Q&A next time and in your labs </li></ul><ul><li>Case 1: Industry of choice </li></ul><ul><ul><li>Nuts and bolts industries: They are easier </li></ul></ul><ul><li>Case 2: Target </li></ul><ul><ul><li>This will be a little more challenging </li></ul></ul><ul><ul><li>Applying technology to a business segment </li></ul></ul><ul><li>Wall Street Journal projects </li></ul>
  17. 17. Topic: The Strategic Process
  18. 18. Topic: Who remembers Hannibal? (Second Punic War?)
  19. 19. Hannibal
  20. 20. Hannibal illustrates what we need for effective strategy:
  21. 21. Some final thoughts:
  22. 22. A (seeming) digression: The University Process
  23. 23. You <ul><li>Four years ago (or so), you were seniors in high school </li></ul><ul><li>You decided to attend college </li></ul>
  24. 24. Colleges and universities <ul><li>Are amazing things </li></ul><ul><li>They began with Plato’s Academy </li></ul>(Around 387 B.C.)
  25. 25. Colleges and universities <ul><li>They evolved through that to his full symposia (nicer surroundings) </li></ul>
  26. 26. Colleges and universities <ul><li>And eventually to the School of Athens </li></ul>
  27. 27. Colleges and universities <ul><li>By around 800s, formal universities were being formed in places like Constantinople and Salerno </li></ul>
  28. 28. Colleges and universities <ul><li>By around 1200, they existed in Paris, Oxford, Cambridge, & Salamanca </li></ul>
  29. 29. Colleges and universities <ul><li>These provide the foundations for our concept of universities today </li></ul>But it was a long road; It took more than 400 additional years for Harvard to even enter the picture!
  30. 30. Colleges and universities <ul><li>Today, we refer to them collectively as institutions of higher education </li></ul><ul><li>That’s meaningful </li></ul><ul><li>It drives what we do here </li></ul><ul><li>And it’s why you came here </li></ul>
  31. 31. Back to you <ul><li>That brings us back to you. </li></ul><ul><li>Four years ago, this was all a pretty fuzzy concept to you. You had… </li></ul><ul><ul><li>ideas about what you would learn </li></ul></ul><ul><ul><li>goals about what you would become </li></ul></ul><ul><ul><ul><li>Smarter? </li></ul></ul></ul><ul><ul><ul><li>New skills? </li></ul></ul></ul><ul><ul><ul><li>More well-rounded? </li></ul></ul></ul><ul><ul><ul><li>A different kind of thinker? </li></ul></ul></ul>
  32. 32. Back to you <ul><li>So here you sit </li></ul><ul><li>Final semester </li></ul><ul><li>Time for some questions: </li></ul><ul><ul><li>Has it been what you thought? </li></ul></ul><ul><ul><li>Has it been what you’d hoped? </li></ul></ul><ul><ul><li>And maybe most importantly… </li></ul></ul>
  33. 33. Back to you <ul><li>Are there things you wanted out of it that haven’t yet happened? </li></ul><ul><ul><li>Have I been pushed? </li></ul></ul><ul><ul><li>Have I pushed myself? </li></ul></ul><ul><ul><li>Have I discovered yet what I can really do? </li></ul></ul>
  34. 34. Back to you <ul><li>Here’s the thing: Time’s almost up… </li></ul><ul><li>This is the last chance you have to see what you can do </li></ul><ul><li>We’re here to help </li></ul><ul><li>Let’s get to it </li></ul>
  35. 35. Next time: <ul><li>More on what we’re doing here </li></ul><ul><li>Mission and strategy </li></ul>
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