Class roundup presentation for Venkat's Strategy Seminar ... eight books overviewed and applied to context ... Darden School of Business at The University of Virginia, Spring 2007.

1. strategy seminar – final presentation
bringing it all together

2. BBAASSEELLININEE
HOW THE TEXTS BREAK DOWN
Corporate Strategy: A Resource Based Approach
Six Degrees & Structural Holes
Juice
The Medici Effect
The Evolution of New Markets
Blink
The Wisdom of Crowds
Essence of Decision
FINDING FINDING N NEEWW I DIDEEAASS A ANNDD V VAALLUUEE
EEVVAALLUUAATTININGG N NEEWW I DIDEEAASS A ANNDD C COONNCCEEPPTTSS
ANALYZING YOUR OWN &
OTHER CORPORATIONS
EXECUTION CAPABILITY
ANALYZING YOUR OWN &
OTHER CORPORATIONS
EXECUTION CAPABILITY

3. Revisiting the concepts with a
case study we know and love!
FINDING NEW IDEAS AND
FINDING NEW IDEAS AND
VALUE
VALUE
EVALUATING NEW IDEAS AND
EVALUATING NEW IDEAS AND
CONCEPTS
CONCEPTS
PRESENTATION STRUCTURE
ANALYZING YOUR OWN &
OTHER CORPORATIONS
EXECUTION CAPABILITY
ANALYZING YOUR OWN &
OTHER CORPORATIONS
EXECUTION CAPABILITY

4. FINDING THE CASE : DARDEN FINDING N NEEWW I DIDEEAASS A ANNDD V VAALLUUEE
SIX DEGREES
One line summary: Finding new ideas through the network, and
exploiting structural holes.
Darden Examples:
• Darden is the one in the middle that gains. Darden is Tertius
Gaudens. It bridges structural holes – and gets value for that.
• Within Darden every Professor is Tertius Gaudens.
• Students leverage the alumni network.

5. FINDING THE CASE : DARDEN FINDING N NEEWW I DIDEEAASS A ANNDD V VAALLUUEE
JUICE
One line summary: Eleven core concepts to aid innovation – go
look them up!
Darden Examples:
Pinpoint the problem. Darden has identified a lack of research as
the main problem for rankings.
Border Transgression: Faculty areas are mixed up to promote
cross over learning.
Thinking systematically: Changing the recruitment and
promotion process to focus harder on research.

6. FINDING THE CASE : DARDEN FINDING N NEEWW I DIDEEAASS A ANNDD V VAALLUUEE
THE MEDICI EFFECT
One line summary: Become an expert in one field and then learn
about other areas to find the intersection and create innovative
ideas.
Darden Examples:
Border Transgression: Faculty areas are mixed up to promote
cross over learning. This has helped with teaching innovations but
(not yet) with research innovations.
Darden/Curry Partnership: Using lessons from business and
business school to aid in education.

7. EVALUATING THE CASE : DARDEN EVALUATING N NEEWW I DIDEEAASS A ANNDD C COONNCCEEPPTTSS
THE EVOLUTION OF NEW MARKETS
One line summary: To succeed you need to become the dominant
design, the best is not always dominant.
Darden Examples:
Business School Concept: The business school/ MBA structure is
the dominant design for US business education.
Sustainability & Social responsibility: The integration of social
responsibility with business education is not yet understood.
Could this represent a new fork in the dominant design?

8. EVALUATING THE CASE : DARDEN EVALUATING N NEEWW I DIDEEAASS A ANNDD C COONNCCEEPPTTSS
BLINK
One line summary: If you have expertise you can make instant
decisions.
Darden Examples:
Admissions Interview: Admissions interview results are often the
result of the first impression.
Case review:…..if you’re a second year student.

9. EVALUATING THE CASE : DARDEN EVALUATING N NEEWW I DIDEEAASS A ANNDD C COONNCCEEPPTTSS
WISDOM OF CROWDS
One line summary: Groups of people under certain conditions will
make better decisions that experts.
Darden Examples:
The case method: Individuals form their own opinion and then
come to learning teams, and then class to discuss it. Together,
hopefully, they form a conclusion.
Class evaluation: The collection of opinions allows for
improvement in the classes.

10. THE CASE : DARDEN UUNNDDEERRSSTTAANNDDININGG E EXXEECCUUTTIOIONN
ESSENCE OF DECISION
One line summary: Evaluating organizations & their decisions
using three overlapping models:
Model 1: The Rational Actor
Model 2: Organizational Processes
Model 3: Governmental Politics
Darden Examples:
Mission: How Darden executes on its mission statement.
Competition: How Darden competes with its peer schools for students,
recruiting focus, and rankings.
Capital Campaign: How Darden raises funds from students, alumni, and
corporations.
Dean Bruner: Hopefully he did this before creating his plan!

11. THE CASE : DARDEN UUNNDDEERRSSTTAANNDDININGG E EXXEECCUUTTIOIONN
Case Subject:
-Darden Tenure Process
Hypothesis:
-Together, the three models will help us understand the essence of Darden
tenure decisions.
Background:
-Tenure equals lifetime employment . . . millions of dollars present value.
-For an academic professional, tenure is the ultimate reward for many years of
education, teaching, and research.
-Tenure decisions are complicated and highly subjective.
-Tenure decisions are difficult . . . passing judgment not
just on a colleague but a friend and “member of the family”.

12. THE CASE : DARDEN UUNNDDEERRSSTTAANNDDININGG E EXXEECCUUTTIOIONN
Darden Tenure Process
Model I : The Rational Actor . . . “Acts of the Firm”
-In reaction to rankings, Darden is passing on professors who do not have a strong
research portfolio.
-Darden is shifting its priority away from teaching and toward research for other
reasons. Many Darden tenured faculty do not produce much (enough) research, so
new tenured faculty must be ones who will pick up the slack.
-Others?

13. THE CASE : DARDEN UUNNDDEERRSSTTAANNDDININGG E EXXEECCUUTTIOIONN
Darden Tenure Process
Model II : Organizational Behavior . . . “Procedural Constraints”
-The tenure process dictates that a professor’s body of work be reviewed by
tenured peers (the tenure committee). As the composition of the peer group
evolves and changes, so do the standards.
-Our tenure process is not determined by Darden alone. Darden’s process is
consistent with that of The University of Virginia. Moreover, Darden’s tenure
process mirrors the “dominant design” process for academic career advancement.
-Tenure processes mirror the “up or out” career advancement
processes used in consulting and investment banks. Type II errors
are bound to happen, but are accepted to ensure the health of
the system as a whole.
-Others?

14. THE CASE : DARDEN UUNNDDEERRSSTTAANNDDININGG E EXXEECCUUTTIOIONN
Darden Tenure Process
Model III : Governmental Politics . . . “Individual Stakeholders”
-The tenure process is highly subjective. Departments and individuals exert
influence to secure tenure for a variety of reasons, including those related to
specific departmental wants and needs.
-While the tenure process is meant to be impartial (blind, merit-based selection),
it cannot be completely impartial. Professors work side-by-side and collaborate
for years before the review process culminates. Review packages are not blind . . .
and would be impossible to make it so.
-Others?

15. THE CASE : DARDEN UUNNDDEERRSSTTAANNDDININGG E EXXEECCUUTTIOIONN
Conclusion:
No one model completely describes how tenure decisions are made at Darden.
-Model I - Darden does pursue “corporate” level goals and objectives and the tenure
process is one tool used to achieve those goals.
-Model II – University and Darden procedures influence the outcome with uncertain
results.
-Model III – Departmental and interpersonal interests play a major role in shaping
tenure outcomes.
Together, we better understand how tenure decisions are executed
AND have an opportunity to shape future decisions.

16. Apply book concepts to better innovate, evaluate new
ideas, understand your business, and execute . . . The
Essence of Strategy
BBAASSEELLININEE
Corporate Strategy: A Resource Based Approach
Six Degrees & Structural Holes
Juice
The Medici Effect
The Evolution of New Markets
Blink
The Wisdom of Crowds
Essence of Decision
FINDING FINDING N NEEWW I DIDEEAASS A ANNDD V VAALLUUEE
EEVVAALLUUAATTININGG N NEEWW I DIDEEAASS A ANNDD C COONNCCEEPPTTSS
ANALYZING YOUR OWN &
OTHER CORPORATIONS
EXECUTION CAPABILITY
ANALYZING YOUR OWN &
OTHER CORPORATIONS
EXECUTION CAPABILITY