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Corporate Strategy

  1. 1. CORPORATE STRATEGY Course Booklet Semester 2a 2011/2012 MBA Core Course
  2. 2. Contents Page NumberCourse Details .................................................................................................... 3Course Description and Objectives .................................................................... 3Learning Outcomes ............................................................................................ 4Planned Student Learning Experiences ............................................................. 5Teaching Approach............................................................................................. 5Assessment ........................................................................................................ 6Feedback ............................................................................................................ 7Guidelines for Formatting and Handing in Assessed Work: ............................... 7Failure to Attempt or Complete Assessed Coursework or an Examination ........ 8Exam Arrangements for Disabled Students........................................................ 8Plagiarism Statement.......................................................................................... 9Appeals............................................................................................................... 9Consultation........................................................................................................ 9Course Monitoring Surveys ................................................................................ 9Required Text ..................................................................................................... 9Course Website .................................................................................................. 9Advised Preparatory Work................................................................................ 10Course Lecturer ................................................................................................ 10Study Programme............................................................................................. 10Lecture Outlines and Readings ........................................................................ 11Exam Papers .................................................................................................... 11Appendix 1: Case Assignment and Presentation Questions ............................ 11Appendix 2: Further Reading............................................................................ 13Name of Site ..................................................................................................... 25Appendix 3: Case Studies ................................................................................ 26Putting you at the heart of business 2 Corporate Strategy
  3. 3. Course DetailsCourse Code: BUST11195Title: Corporate StrategyCollege: Humanities and Social ScienceSchool: The University of Edinburgh Business SchoolCourse Organiser: Chris CarrContact Hours: 30Semester: 2aLectures and CaseStudiesThis is a 10-credit course.Contact hours 10 x 3 hour lectures 30 including group presentationsPreparatory reading 9 x 4 hours in advance of 36 lectureAssignments 20 hours case analysis 20 and group discussion 12 hours writing up 12 contribution to group reportExam 2 hour case exam 2 Total 100 student effort hoursCourse Description and ObjectivesIntroduction and Course ObjectivesCorporate Strategy is an integrating module; it is concerned with the totality of what a tradingbusiness or other organisation is trying to achieve. In other words, it assesses a wide variety ofenvironmental and organisational aspects which, when considered overall, help us to understand whysome organisations thrive and similar organisations may struggle. These aspects will be relevantwhether the organisations are trying to sell clothes world-wide or provide health care in ageographically defined community.Remember the MBA is intended to prepare you for general management, the management of the firmfrom a holistic not functional or specialist viewpoint. For the “general manager” as the Dean of theHarvard Business School has commented in a private paper (19/1/90) the task is “not unlike that ofan explorer leading an enterprise through unrelated territories in uncertain and unpredictableconditions with imperfect navigational instruments”. Each part of the MBA programme will introduceyou to simple frameworks, modest analytical tools, concepts and ideas, rules of thumb and above allways of thinking, which will assist you in your future task of “managing”! The aim of the CorporateStrategy course is to help you examine the corporate strategic possibilities of an enterprise and alsoto encourage you to integrate what you have learnt from other courses and elective choices.There are some implications of this approach. The questions we ask in strategy [whether in anassessment or in real life] may appear simple, but the answers can be very complex. ‘What businessare we in?’ is a classic strategy question that examiners ask of students, consultants ask ofcompanies, and boards of directors should ask themselves all the time.Putting you at the heart of business 3 Corporate Strategy
  4. 4. The reading we suggest to you, that you may find very diverse; may be a single article from TheFinancial Times or Business Week, a lengthy academic article, a biography extract.There may not be a right answer, and if there is we may not necessarily have that answer. By theend of this course some of you will be developing insights into the strategy of organisations which willimpress those of us who are teaching you, and certainly impress some of the people running thoseorganisations - I can guarantee that!The overall objectives of our strategy courses are therefore: • to integrate the functional courses which form the rest of the MBA programme • to emphasise the generalist nature of management work • to examine the role of top management in setting the direction of enterprise • to examine and to be able to apply techniques of strategic analysis • to be aware of competing arguments behind a number of strategic approaches • to gain an understanding of processes of strategy formulation and implementationLearning OutcomesBy the end of the course students will have learned: • The need for a holistic approach to the analysis of strategy. • Analytical approaches to strategy consistent with this holistic approach to organisations.Knowledge and Understanding:Students on completion of the course will have: • Knowledge of strategic planning techniques, and tools for strategic analysis including templates. • An understanding of the application of these techniques in business contexts. • An appreciation of the main drivers of strategic change in an organisation. • Knowledge of approaches to the implementation of strategic change processes. • At the corporate level they will have particular knowledge of diversification, acquisitions, and the management of a group handling a variety of business units. • They will be familiar with many examples of successful and less successful strategies. • They will have extensive knowledge of industry cases, and major types of strategic decisions. • From visiting speakers, they will get first hand accounts of contemporary strategic management practice.Cognitive Skills:Students on completion of the course will have: • The ability to take a holistic approach to the application of analytical templates and other techniques. • Ability to analyse cases which approximates closely to the rapid analysis of business situations.Subject Specific Skills:Students on completion of the course will have: • Rapid structuring of ideas and presentations both as individuals and as members of the team. • Organisational abilities in relation to teamwork including presentation and report writing skills. • The ability to sift material quickly and efficiently, and to structure it into a coherent argument • The ability to research material related to companies and business contexts under pressure of tight deadlines.Putting you at the heart of business 4 Corporate Strategy
  5. 5. Planned Student Learning Experiences • Students will learn from each other in the group situations in the preparation case studies. • In interactive plenary sessions they will learn from each other and from the teacher’s input.Teaching ApproachThis document maps out the subject area’s holistic approach and our overall programme. Coursereadings (as well as case studies) are extremely demanding. This guidance and also the course packare provided ahead so that a good start can be made prior to the first lecture. Part of the exam at theend of the Semester 2a is a multiple-choice exam designed to test your knowledge of the coursetextbook, so it is recommended you buy and read this ahead. Recommended readings are shown inthe table at the end of this section.There is no team presentation in week one, however, teams do need to press ahead with casepreparation to be ready for assessed presentations starting in week 2. See schedule in Appendix 1for all case assignment questions, including major formal presentations assigned. The bestpreparation here is to read Ch 14 of the text on Case Analysis and then the text-based readings forweek one.Notice that you need to utilise at least some basic concepts or techniques covered in the text andprogramme and also a high level of detailed analysis, drawing on pertinent aspects from all policydisciplines and generally pulling together highly specific case data, so as to create a coherent overallargument. In case analysis, though, you must not expect some right answer (as in say double-entryaccounting) – strategic issues are far too complex and ambiguous – but we are looking for coherentanalysis, displaying some depth and consideration of issues on which there is literature and evidence.We appreciate a ‘critical perspective’ which usually begins with some performance review, thussetting the scene for explanations of what’s going right or seriously wrong. We value insights,creativity, evidence that ideas have been thought through (e.g. in terms of implementation details),and themes that are clear, ‘punchy’ and carrying a sense of action-orientation. We don’t value broadgeneralisations like ‘this company should do more market research’ or merely re-hashing material inthe case (which we have all read anyway!).On normal cases (from week 2 onwards), what we ask for on the programme is that each team comein well prepared and ready to respond as teams on assigned issues. You should be prepared todefend your analyses or arguments if challenged. This would enable you to press on with readings,as you will otherwise be under immense time pressure in Semester 2a, because of the time taken forcase analyses week by week. The detailed course outline indicates the readings most pertinent toany particular week, but you are strongly advised to read ahead, skim reading if necessary and thenrevisit readings most useful for any particular case. From week 2 onwards there is generally onemajor formal team presentation for each case session as laid out in the next section. You will receivea folder with all cases and all assignment questions in late December 2011 to enable you to plan andwork ahead.Semester 1 provides an essential backdrop for Strategic Management in providing a basic level firstprogramme, including a deeper appreciation the processes of strategic management, and severalpolicy fields including sustainability and ethical issues. An aim in this Corporate Strategy course is toincrease your confidence in seeing how these overall policy considerations inevitably come togetherin terms of an organisations overall strategy and direction, with a heavy emphasis on case analysisas well as some new theoretical areas such as generic strategy, value chain analysis and corporatelevel issues such as M&As, as detailed in the programme.The Corporate Strategy course runs in Semester 2a and is taken by all students, including thosePutting you at the heart of business 5 Corporate Strategy
  6. 6. going overseas later in the year. It entails 10 three-hour lecture / case-based sessions, and acomprehensive complementary guest speaker programme, culminating in a written exam at the endof Semester 2a. This exam involves case-based questions. An indication of past questions is given inAppendix 2 and case questions will follow a similar format. A detailed programme and readings areshown on page 14.Case StudiesEach team has to produce a formal presentation (absolute maximum of 12 minutes) in response toone case during Semester 2a. Case assignment questions accompany the case pack, issuedtogether with these programme details. By the time of the formal presentation the team must alsoprovide a very short, complementary written report (maximum 750 words) to be handed in togetherwith copies of slides (6 per page, is fine so long as still fully readable). This written report need notrepeat any slide analysis, and it can be more succinct, but it must fully articulate the logicalarguments: slides alone can easily camouflage weakly structured arguments and superficial analysis!The combination should constitute the ‘main story’; a self-sufficient document which could effectivelybe circulated more widely. Both the verbal presentation and the submitted overall report will beassessed. However, no marks are given out or finalised until all Semester 2a presentations havebeen completed, so that they can all be compared fairly once all presentations have been made(bearing in mind anticipated progression in terms of skills as the course proceeds). Please note thatfeedback is provided solely for educational learning. Any attempt at lobbying for or attempting tonegotiate on grades is inequitable in respect to other groups and is strictly forbidden. There is noformal team presentation on Air Asia or HSBC.Formal presentation slides need to be given in to the MBA admin office and a second copy also to thelecturer by the start of these sessions. All teams need therefore to come well prepared for allsessions. Please note that all members of teams need to be involved both in preparing andpresenting these presentations. If a team assigns say all except one (possibly two) member/s tomake the presentation, then one member (possibly two) need/s to be the primary respondent toquestions.At each case session one group not presenting will be asked to lead off and facilitate the first part ofplenary discussion. Their performance in such a facilitation role will not be formally assessed, but wewill have a prize for the group most effective in this capacity. The aim is to keep all groups wellprepared and to take some ownership for well organised inter-active discussions. It’s an opportunityto ensure that students get to hear each others’ views and not just those of the lecturer!Individuals not making formal presentations also need to prepare thoroughly for each case. This canbe done on an individual basis and individuals are likely to be asked to respond to case questions inthe case plenary sessions. Please note that individual verbal contributions will be assessed to theextent of 10 marks (see Assessment Section). This is aimed at responding to a feeling expressed inprevious years that students wanted greater weight placed on their own personal contributions. Theaim is to facilitate and encourage exchange of ideas and experiences by students themselves and tocreate an atmosphere that is a little more ‘electric’ with well-prepared, professional contributions fromeverybody. To enable this, students will have name cards and assessment will be cumulative, weekby week. Each week students will be chosen randomly to ensure equity when seeking directindividual contributions; but the intention is also to make it easier for shyer students or for those forwhom English is a second language to get more opportunities to contribute, if they have not alreadydone so. We want to promote an atmosphere that is conducive to contributions from all well-preparedstudents. If you are ill or there are special circumstances in the period leading up to the case, pleasebe sure to notify your Programme Director.AssessmentPutting you at the heart of business 6 Corporate Strategy
  7. 7. Corporate Strategy Examination 65Group Case Presentation and Report 25 Individual contributions 10Form of Assessment: Corporate Strategy Examination end of Semester 2aStudents will receive a case study about 3 days before the examination. In the formal examinationyou will be asked questions on the case to test your knowledge and understanding of the text andstrategy theory and literature, and particularly the application of such theory and techniques. You willnot have seen this formal exam paper in advance. You should bring the case to the exam unmarked,except for highlighting. Some examples of case questions are shown in Appendix 2.Assessment Criteria:Students will be assessed on: • Their ability to understand the strategic issues in the cases they present, to use the appropriate analytical techniques, and to marshal the relevant data. • The quality of the presentations, the written reports and the examination questions; by quality in this context we mean the clarity and persuasiveness of each bit of work. This implies an ability to work in teams.Students failing to participate in their teams will lose the marks for that piece of work, and maybecome liable to disciplinary action.Dates of Assessment:Please refer to pages 12-13FeedbackAssessment feedback will be provided on a feedback form in the appropriate format. Assessmentmarks and feedback will be made available by 31 March 2011 for group case presentations andwithin six weeks of the main exam which takes place roughly at this time: i.e. by Friday 4th May 2011.There are three elements: first the group case presentations; secondly the exam assesses twocomponents of learning – firstly knowledge of theory as in the textbook, and secondly the case-basedassessment. Students thus received feedback on all three elements.Guidelines for Formatting and Handing in Assessed Work:All completed assignments should be stapled and clearly labelled with the student’s examinationnumber for individual assignments and each student’s matriculation numbers for group assignments.Names should NOT be written on the assignments themselves, so that they can be markedanonymously. Students are asked to attach an assignment submission sheet as a front cover. Thestudent’s name should be written on this sheet along with the examination number if an individualassignment or each student’s matriculation number for a group assignment. A template for this canbe found at the assignments are received the assignment submission sheet will be removed before theassignments are sent to the relevant lecturer(s) for marking. Students must also submit eachassignment electronically by TURNITIN which can be located on WebCT. For the group assignment,once the groups have been composed, a group member will be assigned as responsible for this.Please see instructions via the student portal. This is to enable checks to be carried out for plagiarismon a random basis, or if suspicions are raised.The University has a standardised penalty for late submission of coursework. The School will apply auniform penalty of a reduction of 5 marks for each 24 hours beyond the coursework deadlinePutting you at the heart of business 7 Corporate Strategy
  8. 8. (Saturday, Sunday and University Public Holiday not included) unless late submission has beenrequested in advance of the submission date and approved in writing by the course organiser. Forexample:- an essay with a mark of 65% which is less than 24 hours late will be given a final mark of 60%- an essay with a mark of 65% which is between 24-48 hours late will be given a final mark of 55%- an essay with a mark of 65% which is 48-72 hours late will be given a final mark of 50% and so on...The penalty will not be applied if good reasons can be given, such as documented illness.COURSEWORK DEADLINES ARE ABSOLUTE AND MUST BE STRICTLY ADHERED TOOTHERWISE THE STANDARDISED PENALTY WILL BE APPLIED WITHOUT EXCEPTION.Extensions to coursework deadlines will normally only be granted in cases of illness or otherextenuating circumstances. An extension can only be granted by the course organiser; requests foran extension to the deadline must be agreed with the course organiser prior to the courseworkdeadline. If this proves impossible, students must attach a letter of explanation to the coursework,signed and dated. If you are given an extension, you must ensure that the Postgraduate Office (RoomGF.15, 29 Buccleuch Place, Edinburgh, EH8 9JS) has written proof of this, e.g. in the form of anemail from the course organiser.Failure to Attempt or Complete Assessed Coursework or an ExaminationWhere a student fails to attempt or fails to complete assessed coursework or an examination, thecourse organiser will seek to establish from the student whether the failure is legitimate (i.e.supported by appropriate documentary evidence) or not. A failure to attempt assessed coursework oran examination without good reason will result in a zero mark being awarded for that element ofassessment. In the case of a legitimate failure to attempt or complete assessed coursework, thecourse organiser may decide to offer an extended submission deadline (without marks deduction forlate submission). Where a student is able to produce evidence of legitimate reasons for failure toattempt or complete an examination, and where it has not been possible to offer an extendedsubmission deadline for a legitimate failure to attempt or complete assessed coursework, the courseorganiser will refer the case to the Special Circumstances Committee.Groupwork IssuesWhere group work is involved, should there be any problems with the group dynamic, these shouldbe raised by two concurring members of the team with the course organiser before the ReadingWeek.Exam Arrangements for Disabled StudentsIf required, specific reasonable adjustments will be made to enable disabled students to sitexaminations, including any written, practice or oral examination, continuously assessed courseworkor dissertation which counts towards the final assessment. For more information about the supportdisabled students can receive and the approval process for making reasonable adjustments visit Arrangements for degreeexaminations must be approved in advance by the Registry (650 2214), and the Student DisabilityService (650 6828) for dyslexic students, and reported to the examiners. Academic Registry requiresnotification of specific examination arrangements for dyslexic students well in advance of examinationweeks and specific deadlines apply (see For all other disabled students Academic Registry must see and accept a medicalcertificate or similar documentation relating to the student or be satisfied that an acceptable certificatewill be produced. Such students should discuss their requirements with their Programme Directorand/or the Student Disability Service at the earliest opportunity.Putting you at the heart of business 8 Corporate Strategy
  9. 9. Plagiarism StatementPlagiarism and cheating are offences against the University discipline. The full text of the University’sregulation on plagiarism and cheating can be found on the University’s website: process for students appealing against the assessment of grades is described in the Code ofPractice for Taught Postgraduate Programmes.ConsultationStudents are encouraged to raise any concerns of a subject specific nature with the relevant courseorganiser. All but the simplest issues take time to resolve, and so please raise the issues as soon asyou are aware of them.In the event that your course organiser cannot assist you, please contact your Programme Director.Course Monitoring SurveysAs the PGT programmes are constantly being streamlined to remain progressive and contemporary,it is essential that you provide feedback on the courses you undertake so that the academic andadministrative staff can be aware of your needs and the needs of your peers; the only way we can dothis is if you let us know our strengths and what can be improved to make your learning experiencewith us as relevant and fulfilling as possible.At the conclusion of every semester you will be asked to complete anonymous online coursemonitoring surveys. You will be notified when the surveys relevant to your programme become live.The results of these surveys will then be collated and distributed to the course lecturer(s) who will inturn provide feedback on the course.All information provided by students and course lecturer(s) will be taken into consideration bydecision makers within the Business School – and may alter the way that future courses areadministered. We are providing you with an outlet to voice your opinions and it is very important forthe current state and the future of the Business School and its students that you do so.Required TextGrant R. (2010) Contemporary Strategy Analysis: Text and Cases, 7th, Edn. Oxford: Blackwell.Course WebsiteLecture materials will be made available online via WebCT, which is accessible from the “quick links”area on MyBiz the course website you will be able to find a copy of this booklet, course handouts,announcements and other facilities. It is important that you regularly check the WebCT system inorder to keep up to date with the course. You should be automatically registered for all your courses;if you are not please consult the Programme Secretary (email ensure that your records are in order. A user guide and full details of how to logon and use thesystem are available on the website. N.B. It is vitally important that you check your WebCT mailboxregularly OR set it up so that it forwards messages automatically to your regular e-mail account.Putting you at the heart of business 9 Corporate Strategy
  10. 10. Advised Preparatory WorkSince application of theory is core to our final examination and since class contributions as well asteam presentation assignments are also based on your ability to apply theory to cases, it is highlyrecommended that you read the course text before beginning the course. Reading and preparingcases each week during the course is demanding so it is a major advantage to do this reading overthe break before Semester 2a begins. Secondly it is worth looking at the Gibson Carpets case beforethe programme either individually or as a team. This was once set as an exam case, so if you havedone some thinking on this, the model case answer that will be given out at the start of theprogramme will then be a valuable learning experience, giving you a sense of course requirements.Please note quickly glancing at a case and then at a model answer is rarely that much use when itcomes to having to do something yourself! Thirdly ensure you read any additional assignmentreadings required before each session, as laid out in the schedule below.Course LecturerChris Carr MA (Cantab), D.Phil (Warwick), DMS, ACMA, CEng, MIMechE.Professor in Corporate Strategy (Course Organiser)Previously Senior Lecturer in charge of strategy at Manchester Business School, followinglectureships at Buckingham, Warwick and Bath universities. Teaching and research experience atoverseas universities includes: Brasil (FIA, University of Sao Paulo and Imbec, Rio), Russia (MoscowState University Graduate School of Business and Administration, St. Petersburg University School ofManagement and the Presidential Academy), China (Zheiiang, South West and ShenzenUniversities), India (IIMB, Bangalore), the USA most recently as Visiting Scholar at Harvard BusinessSchool, Germany as Professor in International Business at Witten-Herdecke University in Germany,France at HEC, Spain at the University of Carlos III in Spain, Bicoca, Italy and Bilgi in Turkey. He hasspent over 30 years researching strategic approaches to globalisation, comparing 369 companies in21 countries worldwide through extensive field research particularly in the vehicle componentsindustry. Prior to this he worked in industry for over 10 years with British Aerospace and then GKN,Britain’s two largest engineering companies in terms of market value.Office: Room 2.15, Business School, 29 Buccleuch Place, Edinburgh, EH8 9JSEmail: Tel: 0131 650 6307Study Programme Week Dates 1st part of session 2nd part of session *Readings from to be read prior to session. 1 19 Jan Course intro. Concept of Generic strategies, market share Chs 1, 2, (3, 4) strategy and SWOT 2 26 Jan *Walmart Stores Inc, 2009 (P1) Value chain analysis Chs 8, (5, 6) 3 2 Feb Ryanair, 2011 (P2) *AirAsia: The World’s Lowest Cost Ch 9 & 10 Airlines 4 9 Feb *Ford and the World Automobile Strategic management of Chs 11,13, (14) Industry in 2012. Environmental innovation Watanabe 2007 Sustainability Initiatives at FordPutting you at the heart of business 10 Corporate Strategy
  11. 11. Motor Company. (P3) 5 16 Feb Video Game Console Industry Strategies for going international Ch 12. Kim et al 1997; in 2012: the Next Round (P4) Eisenhardt & Sull 2001; Zook et al 2003; Christiansen et al 2003 6 23 Feb Zara Inc (P5 ) International strategies Ch 15. Leknes & Carr 2004 7 1 Mar Vodafone in 2011 (P6) Role of the Centre & M&As Ch 16 Lecture points on General Electric under Jack Welch. Hanson Video. 8 8 Mar *General Electric and Jeff Leading strategic & cultural Ch 17. Immelt 2009 (P7) change processes Immelt et al. 2009 9 15 Mar HSBC (P8) Course review and revision. Ch 18 Tesco A&B (Tesco Bank) (P9). Presentation only. 10 22 Mar Tesco A&B (Tesco Bank) John Allan, Chairman of Dixons, Ch 7 Plenary Case session. Strategic Leadership & Change Management *Ref. Grant R. (2010, 7th Edition) Contemporary Strategy Analysis: Text and Cases, Oxford: BlackwellPlease note that most readings relate to the case to be studied in the work listed. Most cases aresupported by lecturers in the preceding week (except for the final week) so students are encouraged toapply both ideas from lecturers and assigned readings when preparing for case sessions anddiscussions. Please note, Grant’s chapters 3-6 largely just re-cover material from your earlier Semester1 Strategic Management programme, so should be glanced at briefly as essentially revision. We areusing cases 2, 5, 9 and 23 (shown with stars) from Grant, R. (2010). Others (EnvironmentalSustainability Initiatives at Ford Motor Company, Zara, HSBC, and Tesco A&B) are in thesupplementary case pack.Case and presentation assignment questions are detailed in Appendix 1. Further readings are detailed inAppendix 3.Lecture Outlines and ReadingsAs aboveExam PapersWhere applicable all available exam papers can be found on the University of Edinburgh website at: 1: Case Assignment and Presentation QuestionsPresentation groups will be expected to make presentation of 12 minutes, leading off at the start ofcase sessions into response to all assignment questions, unless stated to the contrary. One of theteams not presenting will be asked to lead off the subsequent plenary. So please come along wellprepared. Unless explicitly stated below, please analysis the case in the time frame of that case.Putting you at the heart of business 11 Corporate Strategy
  12. 12. Wal-Mart Stores Inc., 2009 1. Appraise Walmart’s key sources of competitive advantage. 2. Appraise its broad SWOT position making recommendations for the development of their future competitive strategy.Presentation team 1 to lead off in response to question 1.Ryanair – the Low Fares Airline: Whither Now 1. Appraise Ryanair’s generic competitive strategy as a low cost airline. 2. Appraise its broad SWOT position including rivalry from other airlines, making recommendations for the development of their future competitive strategy.Presentation team 2 to lead off in response to question 1.Air Asia: the World’s Lowest Cost Airline 1 Appraise Air Asia’s generic competitive strategy as a low cost airline. 2. Which sorts of low cost airline approaches will win out internationally in the future, Ryanair or Air Asia approaches?There will be no major team presentation for this case.Ford and the World Automotive Industry in 2012 and Environmental Sustainability Initiatives atFord Motor Company 2010 1. In the context of mature, international rivalry, appraise Ford’s turnaround strategy? 2. Evaluate the contribution of Ford’s sustainability programme has contributed to their recent turnaround?Presentation team 3 to lead off in response to question 1.Video Game Console Industry in 2012 1. Analyse the reasons for Nintendo’s much earlier success in entering this market in the face from rivals such as Atari. 2. Analyse the reasons for Sony’s success in entering this market with Playstations 1 and 2 even in the face of rivals such as Nintendo. 3. Critically appraise Microsoft’s subsequent entry strategy in respect to X-box. 4. Analyse the reasons for Nintendo’s renewed success with respect to the Wii? 5. Which world players will ultimately win out? And why? 6. What should Nintendo do next?Presentation team 4 to lead off on questions 4 & 6.Zara Inc: A Cut Apart from the Competition (supported by Prof Carr’s case supplement) 1. Appraise Zara’s unique competitive strategy and its approach to internationalisation. 2. Appraise its position at the end of the case. What recommendations for the development of their future international strategy.Presentation team 5 to lead off in response to questions 1&2.Vodafone in 2011 1 Analyse the factors that have contributed to Vodafone’s past success internationally. 2. Appraise its position at the end of the case, including particularly its international retrenchment moves. Make recommendations for the development of their future international strategy.Presentation team 6 to lead off in response to questions 1&2.Jeff Immelt and the Reinventing of General Electric, 2009 1. Appraise the key features of Immelt’s corporate strategy. 2. Appraise GE’s position at the end of the case. What threats or opportunities do you see on the horizon and what advice would you now give to Jeffrey Immelt?Presentation team 7 to lead off in response to question 1 & 2.Putting you at the heart of business 12 Corporate Strategy
  13. 13. HSBC 1. Appraise HSI as an appropriate M&A target for HSBC? 2. Given the poor subsequence performance this acquisition, what lessons can be drawn from the viewpoint of HSBC’s overall corporate leadership and governance?Presentation team 8 to lead off in response to question 1.Tesco A & B and Tesco Bank: From Food to Finance 1. Appraise the factors underlying Tesco’s sustained success historically. 2. How far is success due to executive and leadership skills here? 3. How far does the use of Tesco’s ‘Steering Wheel’ contribute to this? 4. Overall assess Tesco’s approach to corporate level management, highlighting any strategic initiative(s) which you feel have greatest potential or those on the other hand might be more vulnerable in terms of sustained future performance. Does the move into banking make sense? 5. What lessons would you draw for effective CEO leadership styles or approaches? 6. What recommendations would you have looking to the future?Presentation team 9 to lead off in response to question 4 and 5.Appendix 2: Further ReadingThe following books may help you to understand the concepts we study and will supplement thelectures and discussions. You should choose from the list those books which address your particularinterests. Brief reasons are given why each book is on the list. Two words of warning: these bookshave generally been written by American or British writers to meet the needs of their own managersand societies, their applicability to other societies is variable. This list of suggested books should beviewed as indicative, and not compulsory. Please remember that all bibliographies reflect the tasteand preference of the compiler; this one is no exception.* Useful for additional reading or purchase if it relates to your interestsOther Excellent Texts*Johnson, G., Scholes, K. and Whittington, R. (2011) Exploring Corporate Strategy: Text and Cases.,9th Edn, London: Prentice Hall. This is an excellent text, more comprehensive than Grant onimplementation issues and alternative perspectives; but long for a relatively short programme.More Advanced or Specialised Books particularly recommended for further inspection. (whichstudents can use or consult)*Calori, R., Atamer, T. and Nunes, P. (2000) The Dynamics of International Competition: fromPractice to Theory. Sage. An interesting research based book from France offering analysis ofcompanies’ perceived strategies for internationalisation. Worth pursuing if you get interested in globalstrategy.*Christensen, C.M. and Raynor, M.E. (2003) The Innovator’s Solution: Creating and SustainingSuccessful Growth. Harvard Business School. Excellent on innovation following Christiansen’s verywell received The Innovation Paradox. Some later books though largely recover his older ground. Buthis most up-to-date book, is Dyer, J., Gregersen, H. and Christensen, C.M. (2011) The Innovator’sDNA: Mastering the Five Skills of Disruptive Innovators, Harvard Business School Press, as below.*Campbell, A. and Park, R. (2005) The Growth Gamble: When Leaders Should Bet on New BusinessPutting you at the heart of business 13 Corporate Strategy
  14. 14. and How to Avoid Expensive Failures. London: Nicholas Brealey. Good on diversification.*Dyer, J., Gregersen, H. and Christensen, C.M. (2011) The Innovator’s DNA: Mastering the Five Skillsof Disruptive Innovators, Boston: Harvard Business School Press.*Ghemawat, P. (2011). World 3.0: Global Prosperity and How to Achieve It, Harvard Business SchoolPress. Similar to 2007 book but more up to date.*Gladwell, M. (2000). The Tipping Point: How Little Things Can Make a Big Difference, London:Abacus. His other new book Outliers (2008) has some interesting ideas too, but is less novel.*Hamel, G. and Prahalad, G.K. (1994) Competing for the Future. Harvard Business School Press. Aninfluential book on strategy which is particularly strong on core competencies. Paperback version.*Kroeger, F., Vizjak, A. and Moriary, M. (2008). Beating the Consolidation Game: Nine StrategiesWinning in Niches. New York: McGraw Hill. Good.*Laszlo, C. (2008). Sustainable Value: How the World’s Leading Companies are Doing Well by DoingGood, Sheffield: Greenleaf Publications. Interesting for examples of sustainable leadership in anumber of top companies.*Porter M. (1980). Competitive Strategy: Techniques for Analysing Industries and Competitors. FreePress, is a classic and very good, although the basic ideas are well covered in the recommendedtext.*Porter, M. (1998) On Competition. A Harvard Business Review Book. A nice collection of his work.*Rugman, A.M. (2005). The Regional Multinationals: MNEs and “Global” Strategic Management.Cambridge University Press. A quick, simple read, though controversial.*Rumelt, R. (2011) Good Strategy. Bad Strategy: the Difference and Why It Matters.. London: ProfileBooks. A bit off-syllabus, but a valuable critique of a lot of rubbish that is spoken of in the name ofstrategy!*Slatter, S., Lovett, D. and Barlow, L. (2006). Leading Corporate Turnaround. How Leaders FixTroubled Companies. Jossey-Bass/John Wiley: San Francisco. Good on turnaround strategies andoptions here.*Zook, C. (2004) Beyond the Core: Expand Your Market Without Abandoning Your Roots, HarvardBusiness School. Good on related diversification.Other More Advanced or Specialised BooksAriely, D. (2008), Predictable Irrationality: the Hidden Forces that Shape our Decisions. London:Harper Collins. An interesting psychological take on decision making.Bartlett, C.A. and Beamish, P.W. (2011) (6th Edition). Transnational Management: Text, Cases andReadings in Cross-Border Management. New York: Sage.Behrens, A. (2009). Culture and the Americas. Compares Europe with USA, Brazil and Argentina. Nicesummarises literature on cross-country cultural differences more generally.Beinhocker, E.D. (2006). The Origin of Wealth: Evolution, Complexity, and the Radical Remaking ofEconomics, Boston: Harvard Business School Press. Very different, but mind stretching, panoramic inscope and very interesting. But you’ll probably not have time for this during the course.Putting you at the heart of business 14 Corporate Strategy
  15. 15. Berger, S. et. al (2006). How We Compete: What Companies Around the World Are Doing to Make itin Today’s Global Economy. New York: Currency. Very strong on outsourcing and globalisation.Bourne, M. and Bourne, P. (2007). Balanced Scorecard. London: Hodder Education. Quickpractioner’s guide.Branine, M. (2011). Managing Across Cultures: Concepts, Policies and Practices. London: Sage.Bryan, L., Fraser, J., Oppenheimer, J. and Rall, W. (1999) Race for the World, Harvard BusinessSchool Press. A quick read with some good ideas on global strategy, though most summed up onpage 91, so I wouldn’t necessarily purchase unless you get particularly keen on global strategy.Calori, R., Atamer, T. and Nunes, P. (2000) The Dynamics of International Competition: from Practiceto Theory. Sage.Carr, C. (1990). Britain’s Competitiveness: the Management of the Vehicle Component Sector.London: Routledge.Carr, C., Bayliss, B. and Tomkins, C. (1994) Strategic Investment Decisions. Avebury Press. Aresearch based book – very detailed comparative analysis of strategic investment decision processesin Britain and Germany. Specialised, academic and expensive.Chandler, A.J. (1990). Strategy and Scope: the Dynamics of Industrial Competition. Boston: HarvardUniversity Press Paperback. A classic in the field of business history, organisation structures anddiversification.Child, J. and Faulkner, D. & Tallmar, S. (2005, 2nd Edit). Cooperative Strategy: Managing Alliances,Networks and Joint Ventures. Open University Press.Collins, J. (2000) Good to Great, Random House Business Books, London. His previous book Built toLast was a bit like a more up to date In Search of Excellence, and may raise similar issues. Do allthese successful companies actually last? But this one is addressed to a pertinent question. How docompanies actually move from being mediocre to excelling on performance?Daussauge, P. and B.Garrette (1999) Cooperative Strategy: Competing Successfully throughStrategic Alliances, Chichester, Wiley.Dicken, P. (2009) (6th Edit). Global Shift: Mapping the Contours of the World Economy. Sage. This ishighly relevant for global strategy.Dixit, A.K. and Nalebuff, B.J. (1991) Thinking Strategically. Norton & Company.Doz, Y. and Kosonen, M. (2008). Fast Strategy: How Strategic Agility will Help You Stay Ahead of theGame, Harlow: Pearson Education. Quite good with nice examples such as Nokia from high tech’sectors, though maybe a bit uncritical in light of Nokia’s more recent problems.Drucker, P.F. (1989) The New Realities. London: Heinemann Professional Publishing.Evans, D.S. and Schmalensee, R. (2007). Catalyst Code: the Strategies behind the World’s MostDynamic Companies. Boston. Harvard Business School Press. E.g. covers Google, DoCoMo,Sotherby’s & MySpace.Friedman, T.L. (2006). The World is Flat. London: Penguin. Stimulated debate (over 2m copies) butover-rated.Putting you at the heart of business 15 Corporate Strategy
  16. 16. Gabarra, J.J. (1987). The Dynamics of Taking Charge. Boston: Harvard Business School Press.Ghemawat, P. (2007). Global Strategy in a World of Differences, Boston: Harvard Business SchoolPress. Great issues and some good data, though his interpretation is highly open to question. Most ofhis case studies and a good deal of his data actually point to pro-active global strategies being prettycrucial; his theme though is that we really just need to be ‘semi-global’.Goold, M., Campbell, A. and Alexander, M. (1994) Corporate-level Strategy - Creating BusinessValue in the Multi-business Company. Chichester: Wiley. How can corporate headquarters can addvalue to subsidiaries?Galpin, T.J. and Herndon, M. (2007). Mergers and Acquisitions: Process Tools to Support M&AIntegration at Every Level. John Wiley/Jossy Bass: San Francisco.Gratton, L. (2007). Hot Spots: Why Some Companies Buzz with Energy and Innovation and OthersDon’t. Harlow: FT Prentice Hall.Hamel, G.(2000) Leading the Revolution, Harvard Business School Press. Provocative, thoughuncritical adulation of New Economy companies like Enron!Harvard Business Review (2002) Harvard Business Review on Advances in Strategy, Boston:Harvard Business School Press.Hill, C.W.L. (2011) (8th Edition). International Business: Competing in the Global Market Place. NewYork: McGraw Hill. Excellent, up-to-date international business text but you’ll probably cover contenton IB programmes.Hofstede,G.; Hofstede, G.J. and Minkov, M. (2010) (3rd Edition). Cultures and Organisations:Software of the Mind. Latest version of a classic.House, R. et al. (2005). The Globe Leadership Project. London: Sage. Impressive. Expensive though.Inkpen, A. and Ramaswamy, K. (2006). Global strategy: creating and sustaining competitiveadvantage across borders. Oxford: Oxford University Press.Jackson, T. (2011). International Business Ethics: A Critical Cross-Cultural Perspective, Cambridge:Cambridge University Press. Very good cross-cultural perspective on business ethics and issues ofsustainable leadership worldwide.Johnson, G., Langley, A., Melin, L. and Whittington, R. (2007). Strategy as Practice: ResearchDirections and Resources. Cambridge University Press. Other perspectives on how strategies areformulated.Kanter, M.R. (1989) When Giants Learn to Dance. Routledge. A description of her view of ‘post-entrepreneurial’ corporations. Final 30 pages best overview.Khanna, T. and Palepu, K.G. (2010). Winning in Emerging Markets: A Road Map for Strategyand Execution, Harvard Business School Press.Kim, W.C. and Mauborgne, R. (2005). Blue Ocean Strategy: How to Create UncontestedMarket Space and Make the Competition Irrelevant. Boston: Harvard Business School Press.Kotter, J.P. (2008). A Sense of Urgency. Boston: Harvard Business School Press. Pertinent tostrategic implementation and leadership.Putting you at the heart of business 16 Corporate Strategy
  17. 17. Lees, S. (2003) Global Acquisitions: Strategic Integration and the Human Factor, Basingstoke:Palgrave/Macmillan.Lendrum, A. (2004). The Strategic Partnering Pocketbook: Building Strategic Partnerships andAlliances. Sydney: McGraw Hill.Linch, R. (2010). (6th Edition). Strategic Management. Harlow: Prentice Hall. A good strategy text.Linder, J.C. (2004). Outsourcing for Radical Change: A Bold Approach to EnterpriseManagement. New York: Amacom.McCraw, T.K. (2000). Creating Modern Capitalism: How Entrepreneurs, Companies, andCountries Triumphed in Three Industrial Revolution, Boston: Harvard University Press. Greatbusiness history.Middleton, J. (2006). Gurus on eBusiness. London: Thorogood.Miller, D. and Le Breton-Miller, I. (2005). Managing for the Long Run: Lessons in CompetitiveAdvantage from Great Family Businesses. Boston: Harvard Business School Press.Miniter, R. (2002). The Myth of Market Share. Nicholas Brearley. A fast, controversial read.Mintzberg, H. (1994) The Rise and Fall of Strategic Planning. London: Prentice Hall. Worth reading.Mintzberg, H.; Ahstrand, B. and Lampel, J.S. (2009). (2nd Edition) Strategy Safary: Your CompleteGuide through the Wilds of Strategic Management. Edinburgh: Pearson Education.Mourdoukoutas, P. (2006) Business Strategies in a Semiglobal Economy. New York: M.E. Sharpe.Nishiguchi, T. (1994) Strategic Industrial Sourcing: the Japanese Advantage, Oxford, OxfordUniversity Press. Excellent on role of subcontractors across Europe, the USA and Japan,including historical trends.Nolan, P., Zhang.J. and Liu, C. (2007). The Global Business Revolution and the Cascade Effect:Palgrave Macmillan. Superb for data on global consolidation taking place in many sectors worldwide,including aerospace, beverages and retail amongst others.Nonaka, I. and Takeuchi, H. (1995) The Knowledge-Creating Company: How Japanese CompaniesCreate the Dynamics of Innovation. Free PressOhmae, K. The Mind of the Strategist. Harmondsworth: Penguin. Ohmae is one of the few Japanesewriters in the field of strategy. He was head of McKinsey’s office in Tokyo. This original approach isstill worth reading.Ohmae, K. (1985) Triad power: The coming shape of global competition, New York: Free Press.Ohmae, K. (1990) The borderless world. New York: Harper Business.Ohmae, K. (2001) The invisible continent: four strategic imperatives for the new economy. NicholasBraeley.Patel, A.B. and Aran, H. (2005). Outsourcing Success: the Management Imperative, Basingstoke:Palgrave Macmillan.Putting you at the heart of business 17 Corporate Strategy
  18. 18. Penn, M.J. with Zalesne, E.K. (2007). Micro Trends: Surprising Tales of the Way we LiveToday. London: Penguin. Interesting trends.Peng, M. and Meyer, K. (2011). International Business. London: Cengage Learning. Anotherexcellent, up-to-date international business text but you’ll probably cover content on IB programmes.Peters, T. and Waterman, R.(1982) In Search of Excellence. Harper & Row. Influential,stillcontroversial!Porter, M. (1985) Competitive Advantage - Creating and Sustaining Superior Performance. FreePress.Porter, M.E. (1990). Competitive Advantage of Nations. Macmillan Press.Prahalad, C.K. and Y.L. Doz (1987) The Multinational Mission: Balancing Local Demands andGlobal Vision, Free Press, New YorkRappaport, A. (1996). Creating Shareholder Value: The New Standard For BusinessPerformance (New York, John Wiley & Sons, Inc, 1996)Rugman, A. (2004). The End of Globalisation. Controversial but stimulating.Schein, E. (2010) (4th Edition). Organisational Culture and Leadership. San Francisco: Jossey-Bass.Segal-Horn, S. and D. Faulkner (2010) Understanding Global Strategy. Cengage, EMEAShenkar, O. (2010). Copycats: How Smart Companies Use Imitation to Gain a Strategic Edge.Harvard Business Press. An interesting really quick read.Sheth, J. and Sosodia, R. (2002). The Rule of Three: Surviving and Thriving in Competitive Markets,Free PressSimon, H. (1996) Hidden Champions: Lesssons from the World’s Best Unknown Companies, HarvardBusiness School Press.Simon, H. (2009). Hidden Champions of the Twenty-First Century: The Success Strategies ofUnknown World Market Leaders, Springer. Very good, especially on Germany and on smallercompanies that have excelled internationally.Sirkin, H.L., Hemerling, J.W. and Bhattacharya, A.K. (2008). Globality. Competing with Everyone froEverywhere for Everything. London: Headline Business Publishing. Very good value.Stefanowski, R. (2007). Making M&A Deals Happen. New York: McGraw Hill.Stern, C.W. and Deimler, M.S. (2006, Ed). The Boston Consulting Group on Strategy: ClassicConcepts and New Perpectives, Chichester: John Wiley. Slightly dated, but a nice amalgam.Sutton, J. (1998). Technology and Market Structure: Theory and History. Cambridge, MA: MIT Press.Taleb. N.N. (2007). The Black Swan: The Impact of the Highly Improbable. London: Penguin. Firsttwo chapters an interesting critique of our inability to really forecast future: good on the credit crunch.Tapscott, D. (2009). Grown Up Digital. New York: McGraw Hill.Putting you at the heart of business 18 Corporate Strategy
  19. 19. Tomalin, B. and Nicks, M. (2007). The World’s Business Cultures and How to Unlock Them.Thorogood.Trompenaars, F. and Prud’Homme, P. (2004). Managing Change Across Cultures. Chichester:Capstone/Wiley.*Van Agtmael, A. (2008). The Emerging Markets Century. How a New Breed of World-Class Companiis Overtaking the World. London: Simon and Schuster. Good.Van Der Heydjen, (1995) Scenarios: The Art of Strategic Conversation. WileyVan Der Heydjen et al, (2002) The Sixth Sense: Accelerating Organizational Learning withScenarios. WileyWatkins, M. (2003). The First 90 Days. Harvard Business School Press.Wheeler, C., McDonald, F. and Greaves, I. (2003) (Eds) Internationalization: Firm Strategies andManagement, Basingstoke: Palgrave / Macmillan. I will refer to chapter 6.Whittington, R. (2001) What is Strategy and Does It Matter? London: Thomson Learning. Stimulatingon the process of strategy debates. Brief and succinct.Wiebes, E., Baaij, M., Keibek, B. And Witteveen, P. (2007). The Craft of Strategy Formulation:Translating Business Issues into Actionable Strategies. Chichester: Wiley.Womack, J.P, Jones, D.T. and Roos, D. (1990), The Machine that Changed the World, RawsonAssociates.Womack, J.P. and Jones, D.T. (2003) Lean Thinking: Banish Waste and Create Wealth in YourCorporation, Free Press / Simon & Schuster, paperback edition.Yip, G. (2001) Total global strategy (latest edition). Prentice Hall. Draws on the extensiveacademic/research / consultancy work. Succinct and very useful, if rather lacking in empirical data.Practical Experience of Management Particularly Recommended.**Asakura, A. (2000). Revolutionaries at Sony: the Making of the Sony PlayStation and theVisionaries Who Conquered the World of Video Games, McGraw-Hill. Extremely good read showinginside story of technology innovation and strategic change at one of Japan’s best companies.*Carlzen, J. (1988?). Moments of Truth. Paperback. Excellent (if you can still find it) on servicemanagement, turnaround and cultural change processes.*Creaton, S. (2004). Ryanair: How a Small Irish Airline Conquered Europe. London: Aurum Press.*Liker, J.K. (2004). The Toyota Way: 14 Management Principles from the World’s GreatestManufacturer. New York: McGraw-Hill. An excellent account of the world’s leading car company. Seealso Extreme Toyota (2008) by other authors.*Lorenz, A. (2009). GKN: the Making of a Business 1759-2009. Wiley. A superb, strategicallyinsightful, 250 year corporate history of a company still highly successful in world markets. This isreally is sustained corporate leadership!*MacIntosh, J. (2011). Dethroning the King: The Hostile Takeover of Anheuser-Busch, an American IcoHoboken, New York: Wiley. If you want an inside account of the end of USA’s national championPutting you at the heart of business 19 Corporate Strategy
  20. 20. brewing and it’s takeover by AmBev, this is a classic recent example.*Magee, D. (2003) Turnaround: How Carlos Ghosn Rescued Nissan. Harper Books.Good.*Morita, A. and Sony. (1986) Made in Japan. Fontana Collins. Lovely paperback if you can still get it.*Welch, J. (2002) Jack: What I’ve Learned Leading a Great Company and a Great People, London:Headline.*Ze, S. and Ng, J. (2008). The Air Asia Story. Malaysia: Kanyin Publications.Other Practical Experience of ManagementBevan, J. (2007). The Rise and Fall of Marks and Spencer…and How it Rose Again, London: Profile.Branson, R. (2006). Screw It. Let’s Do It. London: Virgin Books. Certainly short.Burgelman, R.A. (2001). Strategy is Destiny: How Strategy Making Shapes a Company’s Future, FreePress (a study of Intel).Cadbury, D. (2010). Chocolat Wars. From Cadbury to Kraft: 200 Years of Sweet Success and BitRivalry. London: Harper Press.Clark, T. (2008). Starbucked: A Double Tall Tale of Caffeine, Commerce & Culture. London: Sceptre.Dauphinais, G.W., Means, G. and Price, C. (2000). Wisdom of the CEO. New York: John Wiley. 29CEO views on topical strategic issues.Fiorina, C. (2007). Tough Choices: A Memoir. London: Nicholas Braerley.Gallo, C. (2011). The Innovation Secrets of Steve Jobs, McGraw-Hill.Garten, J. (2002) The Mind of the CEO: One to One with the World’s Top Business Leaders, London:Penguin (paperback). A nice, quick read reviewing perspectives of several top firms / CEOs.Gerstner, L.V. (2002) Who Says Elephants Can’t Dance? Inside IBM’s Historic Turnaround, London:Harper Collins (paperback). Very good.Giraud, B. (2009). The Google Way, San Francisco: No Starch Pres.Hamilton-Paterson, J. (2010). Empire of the Clouds: When Britain’s Aircraft Ruled the World. LondoFaber and Faber. History of the aircraft industry and quite inspiring!Jones, E. (1987). A History of GKN. Vol One: Innovation and Enterprise. 19759-1918. Basingstoke:Macmillan.Jones, E. (1990). A History of GKN. Vol Two: The Growth of a Business. 1918-1945. Basingstoke:Macmillan.Jones, G. (2005) Renewing Unilever: Transformation and Tradition. Oxford: Oxford University Press.An excellent, pertinent and up to date business history on a classic multinational.Jones, G. (2010). Beauty Imagined: A History of the Global Beauty Industry. Oxford: Oxford UniversPress. A great history of the beauty industry.Putting you at the heart of business 20 Corporate Strategy
  21. 21. Johnson, J. and Orange, M. (2003) The Man Who Tried to Buy the World: Jean-Marie Messier andVivendi Universal, London: Penguin/Viking.Kelly, D. (2004). Driven: Inside BMW, the Most Admired Car Company in the World, Hoboken: Wiley.Levine, R. (2011). Free Rider: How the Internet is Destroying the Culture Business and How theCulture Business Can Fight Back. London: Bodley Head.McInevny, F. (2007). Panasonic: the Largest Corporate Turnaround in History. New York: TrumanTally Books.McQueen, R. (2010). Blackberry: the Inside Story of Research in Motion. London: Aurum.Osono, E., Shimuzu, N. and Takeuchi, H. (2008). Extreme Toyota: Radical Contradictions That DriveSuccess at the World’s Best Manufacturer. Hoboken: Wiley. The latest book on Toyota, by a goodteam with excellent recent access. A bit disappointing in terms of more specific themes: wait for thepaperback.Ratner, G. (2006). The Rise and Fall…and Rise Again. Chichester: Capstone/John Wiley. The storyof Gerald Ratner’s rise and slightly infamous fall of the Ratner’s jewellery chain, now know as Signet.Ruddock, A. (2007). Michael O’Leary: a Life in Full Flight. Dublin: Penguin.Simms, A. (2007). Tescopoly. London: Constable.Steinbok, D. (2001) The Nokia Revolution: the Story of an Extroadinary Company that Transformedan Industry, New York, Amacom.Stenebo, J. (2010). The Truth About Ikea. Gibson Square.Teerlink, R. and Ozley, L. (2000) More Than a Motorcycle: the Leadership Journey at Harley-Davidson. Harvard Business School Press.Vise, D.A. (2005). The Google Story. London: Pan.Vlasic, B. and Stertz, B.A. (2000) Taken for a Ride: How Daimler-Benz Drove Off with Chrysler,William Morrow.Yenne, W. (2007). Guinness: the 250 Year Quest for the Perfect Pint. Chichester: Wiley.Newspapers/PeriodicalsThe following are particularly relevant and the Financial Times in particular should be a regular read:Business Week; Economist; Harvard Business Review*; Forbes; Fortune; Long Range Planning;Sloan Management ReviewRecommended ArticlesBaden Fuller, C. and Stopford, J. (1991) Globalisation Frustrated: The Case studies of White Goods.Strategic Management Journal, 12: 493-507.Bartlett, C. and Ghoshal, S. (2000) Going Global: Lessons from Late Movers, Harvard BusinessReview, MarchBarney, J.B. (1991). Firm resources and sustained competitive advantage. Journal of Management,Putting you at the heart of business 21 Corporate Strategy
  22. 22. 17 (1), 99-120.Brandenberger, A.M. and Nalebuff, B.J. (1995), The Right Game: Use Game Theory to ShapeStrategy. Harvard Business Review, July-August, 57-71.Brockstedt, E. and Carr, C.H. (2005). “Collaborative R&D alliances in the pharmaceutical industry”.Innovation: Management, Policy and Practice, Vol 7, No 3, 2005.Buzzell, R., Gale, B., and Sultan, R. (1975) Market Share –a Key to Profitability, Harvard BusinessReview, Jan*Campbell, A., M. Goold, and M. Alexander. (1995) The Value of the Parent Company, CaliforniaManagement Review, 38 (1): 79 -Campbell, A., Whitehead, J. and Finkelstein, S. (2009). Why good leaders make bad decisions.Harvard Business Review, Feb, 87 (2) 60-67.Carr, C.H. (1993) Global, National and Resource Based Strategies. Strategic Management Jrnl, 14:551-568.Carr, C.H. (1999) Globalisation, strategic alliances, acquisitions and technology transfer, R&DManagement, Vol 29, No 4, 405-421.*Carr, C.H. (2005). Are German, Japanese and Anglo-Saxon Strategic Decision Styles Still Divergentin the Context of Globalization? Journal of Management Studies 42 (6), 1155-1188.Carr, C.H. (2006). “Russian strategic investment decision practices compared with those of GreatBriton, Germany, the United States and Japan: diversity, convergence and short-termism”,International Studies , Management and Organization. Vol 36, No 3.*Carr, C.H. and Collis, D. (2011) “Should you go global?”, Sloan Management Review, Fall.Carr, C.H., Kolehmainen, K. and Mitchell, F. (2010). “Strategic investment decision making: acontextual approach”, (Co-authors.). Management Accounting Research, 2010, Vol 21, Issue 3,pp.167-184.Carr, C.H. and Bateman, S. (2010). “Does culture count? Comparative performances of top familyand non-family firms”, International Journal of Cross-Cultural Management, Vol 10, No 2, pp.241-262.Carr, C.H. and Bateman, S. (2009). “International strategy configurations of the world’s top familyfirms: another factor affecting performance”, Management International Review, Vol 6, No 6, 2009,733-758.Carr, C.H. and Garcia, C-E. (2003) Globalisation and strategic choice: how multinational and localperspectives differ: a Spanish case study, European Management Journal, Vol 21, No 6, 671-685.Carr, C.H. and Pudelko, M. (2006) “Convergence of national practices in strategy, finance and HRMbetween the USA, Japan and Germany”, International Journal of Cross Cultural Management, Vol 6,No 1.Carroll, P.B. and Mui, C. (2008). Seven ways to fail big. Harvard Business Review, September.Collis, D. and Montgomery, C. (1995) Competing on Resources: Strategy in the 1990s, HarvardBusiness Review, Vol 76, No 3, 1998, 70-83Putting you at the heart of business 22 Corporate Strategy
  23. 23. Dawar, N. and Frost, A. (1999) Competing with Giants. Survival Strategies for Local Companies inEmerging Markets. Harvard Business Review, March, pp119-129.Day, G.S. (1997) Strategies for Surviving a Shakeout, Harvard Business Review (March), 92-102.Eisenhardt, K.M. (1989). Making Fast Strategic Decisions in High-Velocity Environments. Academy ofManagement Journal, 32, 3, 5430-76.*Eisenhardt, K.M. and Sull, D. (2001) Strategy as Simple Rules, Harvard Business Review, January107-116.Frei, F.F. (2008) The Four Things a Service Business Must Get Right, Harvard Business Review, 86,4, 70-80.Fried, V.H. and Oviatt, B.M. (1989). Michael Porter’s Missing Chapter: the Risk of Antitrust Violations,The Academy of Management Executive, 3 (1), 49-56.Garnier, J-P. (2008) Rebuilding the R&D Engine in Big Pharma, Harvard Business Review, 86, 5, 68-77.Ghemawat, P. (2005). Regional strategies for global leadership. Harvard Business Review, Dec, pp.99-108.*Ghemawat, P. and Ghardir, F. (2000) The Dubious Logic of Global Megamergers. Harvard BusinessReview, (July-August), 65-72.*Ghemawat, P. and Ghardir, F. (2006). Global integration is not equal to global concentration.Industrial and Corporate Change, 15 (1) 595-623.Ghosn. C. (2002). Saving the business without losing the company. Harvard Business Review, 80,No 1, 37-45Goold, M. and Campbell, A. (2002). Parenting in complex structures. Long Range Planning, Vol 35,219-243.Gottfredson, M., Puryear, R. and Phillips, S. (2005). Strategic sourcing: from periphery to the core.Harvard Business Review, 83 (2) 132-9.*Hagiu, A. and Yoffie, D.B. (2009). “What’s your Google strategy?’, Harvard Business Review, April.*Hamel G. and Prahalad, C. K. (1989), Strategic Intent, Harvard Business Review, May/June: 63-76.Hamel, G., Doz, Y. and Prahalad, C. (1989) Collaborate with Your Competitors and Win. HarvardBusiness Review, Jan-Feb: 133-139.Hamel, G. and Valikangas, L. (2003). The quest for resilience. Harvard Business Review, Vol 81, No9: 52-63.Hansen, M.T., Nohria, N. and Tierney, T. (1999). What’s your strategy for managing knowledge?Harvard Business Review, Vol 77, No 2: 106-116Harris, S. and Carr, C.H. (2008). “National cultural values and the purpose of business” (Co-author S.Harris), International Business Review, 17, 2008:103-117.Hout,T., Porter, M.E and Rudden, K.(1982) “How global companies win out”, HBR Sep-Oct, 98-Putting you at the heart of business 23 Corporate Strategy
  24. 24. 109*Immelt, J.R., Govindarajan, V. and Trimble, C. (2009). “How GE is disrupting itself’, HarvardBusiness Review, Vol 82 (10), 56-65.Johnson, G. J. (1999), Managing Strategic Change; The Role of Symbolic Action. British Journal ofManagement, 1: 183-200.Jones, G. and Khanna, T. (2006). Bringing history (back) into international business research. Journalof International Business Studies, 36, 1-16.Kanter, R.M. (2003). Leadership and the psychology of turnarounds. Harvard Business Review, Vol81, No 6: 58-67.*Kim, W.C. and Mauborgne, R. (1997). Value innovation: the strategic logic of high growth. HarvardBusiness Review, Vol 75: 103-112Kim, W.C. and Mauborgne, R. (2009). How strategy shapes structure. Harvard Business Review,September.Kumar, N. (2009). How emerging giants are rewriting the rules of M&A. Harvard Business Review, 87(5). 115-121.*Leknes, H. and Carr, C.H. (2004) Globalisation, international configurations and strategicimplications: the case of retailing, Long Range Planning, Vol 37, 29-49.Levitt, T. (1983). “The globalization of markets”, Harvard Business Review, May-June, 92-102.A highly controversial classic, still being debated.Lindner, J.C. (2004). Transformational outsourcing. Sloan Management Review, 45 (2) 52-8.Lorange,P. and Roos, J. ‘Why some strategic alliances succeed and others fail’. The Journal of BusinessStrategy, Jan-Feb, pp. 132-135.*Mintzberg, H. (1987) Crafting Strategy. Harvard Business Review, Sep/Oct: 49-55.*Ohmae, K. (1989) The Global Logic of Strategic Alliances. Harvard Business Review, March-April:143-154.Osegowitsch, T. and Sammartino, A. (2008). Reassessing (home-) regionalisation, Journal ofInternational Business Studies, 39, 184-196.Peng, M.W. and Pleggenkuhle-Miles, E.G. (2009). Current Debates in Global Strategy.International Journal of Management Reviews, 11 (1), pp. 51-68.Porter, M. (1987) From Competitive Advantage to Corporate Strategy, Harvard BusinessReview, 65, (3) pp 43-59.Porter, M. (1988) What is Strategy? Harvard Business Review.Porter, M.E. (1990) The Competitive Advantage of Nations. Harvard Business Review, March/April(2): 73-93.Putting you at the heart of business 24 Corporate Strategy
  25. 25. Porter, M. (2001) Strategy and the Internet, Harvard Business Review, March*Porter, M. (2008). The Five Competitive Forces that Shape Strategy. Harvard Business Review, 86(1), 78-93.*Prahalad, C. and Hamel, G. (1990) The Core Competence of the Corporation. Harvard BusinessReview, May/June: 71-91.Rugman, A. and Verbeke, A. (2004). A perspective on regional and global strategies of multinationalenterprises, Journal of International Business Studies, 35, 1, 3-18.Rugman, A. and Verbeke, A. (2008). The theory and practice of regional strategy: a response toOsegawitsch and Sammartino, Journal of International Business Studies, 39, 326-332.Ruimin, Z. (2007). Raising Haier, Harvard Business Review, Feb. First Person Interview with ZhangRuimin, CEO, Hair.*Schultz, H. (2010). “An interview with Howard Schulz”, Harvard Business Review, July toAugust.Schwittay, B. and C.Carr (2002) “New strategic groups concepts in the transition to a changingglobal environment: a dynamic analysis of strategic group behaviour in the world-wide spiritsindustry” in International Business: Adjusting to New Challenges and Opportunities, Ed. F.McDonald, H.Tuselmann and C.Wheeler, Basingstoke and New York, Palgrave: 221-233.H.Simon (1996) “You don’t have to be a German to be a ‘Hidden Champion’, Business StrategyReview, 7, 2, 1-13.*Takeuchi, H., Osono, E. and Shimitzu, N. (2008) The Contradictions that Drive Toyota’s Success’,Harvard Business Review, 86,6, 96-104.Ul-Haq, R., Howcroft, B. and Carr, C.H. (2010). “Internationalisation Strategies: The Banking andInsurance Sectors”, International Journal of Services Management, 2010 (first published on line28.9.10).*Watanabe, K. (2007). Lessons from Toyota’s Long Drive. (Interview with Toyota’s CEO). HarvardBusiness Review. 85, 7/8, 74-83.G.S.Yip, P.M.Loewe, M.Y.Yoshino, “How to take your company to the global market”, CaliforniaJournal of World Business, 1988,Vol 23, No 4, 37-48*Yip, G. (1989) Global Strategy in a World of Nations? Sloan Management Review, Fall, 29-40.*Zook, C. and Allen, J. (2003) “Growth outside the core”, Harvard Business Review, Dec, 66-73.E ReadsIt is also increasingly easy to access material electronically. Some sites you might try includethe following which I have accessed and found helpful. There are increasing numbers of otherelectronic sites including Wikepedia, and, which gives a bit overview onstrategy and other techniques. Just don’t try plagiarising any of these though! URL Name of SitePutting you at the heart of business 25 Corporate Strategy
  26. 26. Journal of Business Strategies Strategic Management Society [USA] Strategic Planning Society [UK] Dewit and Meyer text – part downloadable Strategy & Business Nasa strategic planning guide; useful nd/toc.htm Witwwtersrand Uni strategic planning guideAppendix 3: Case StudiesIn case studies, the individual groups examine together a real life example of a management situation(edited for teaching purposes). Some cases are ‘dated’ but it is felt that the lessons to be learnt justifytheir use, some are contemporary business challenges. There is not always a “teacher’s answer”.What is crucial is the depth of analysis, an understanding of assumptions made, and the creativequality of the solution that comes from solid analysis and thought.Notes on Case Preparation: The following comments may help you in case study preparation:-In discussing problems of Corporate Strategy it is useful to have descriptions of real life companysituations in addition to readings and lectures on the concepts. This is provided by the case studymethod. To be comprehensive in giving the reader an appreciation of the environment, the variousfunctions, resources, constraints and opportunities before the management, inevitably the case has tobe adequately long.In preparing a case for classroom discussion the following suggestions may be useful.1. Read the case hurriedly through once to give yourself an idea of the total perspective. Note what Exhibits there are.2. Read it through again. Read particularly the sections which seem most significant to addressing the questions posed or your own opinions of the important issues. Study the ‘numbers’ often in exhibits carefully; they sometimes tell a different story from the ‘words’.3. As you go through steps one and two do not hesitate to make extensive notesLook Out for:1. Evolution of the corporate strategy of the organisation, including overall objectives and how they relate to stakeholders.2. Evolution of strategies in particular functions such as marketing, manufacturing, finance, organisation, systems and techniques, and above all the comparative advantage possessed!In making recommendations for the future as to how the company needs to maintain some parts of itsstrategy but to change others, you may find it useful to analyse the four following areas:1. Opportunities in the environmentPutting you at the heart of business 26 Corporate Strategy
  27. 27. 2. Threats in the environment3. Strengths of the company4. Weaknesses of the companyAlso look at the abilities, styles, administrative competence of the Chief Executive or the ChiefExecutives whose regimes are described in the case study. Put yourself firmly in the position of aconsultant or a manager in the company and see what realistic insights and recommendations youcan come up with in the various functions and overall corporate strategy. Finally see what lessons youcan distil from the story of the particular company whose case we are discussing, and relate it to yourown experience and that of your colleagues.In the classroom discussions the duties of the ‘teacher’ will be to orchestrate the discussion of thegroup so as to provide the necessary intellectual and emotional environment which encourages theclass to participate actively in obtaining the objectives of a given session. The degree to which the‘teacher’ takes an active part depends partly on his/her own personality and style and partly on theabilities of the class to reach meaningful conclusions without help. In the discussions, it is hoped thatunsubstantiated statements will be challenged, points made, group colleagues defended with clearlyreasoned, analytical argument. Here the ‘teacher’ may be required to act as arbitrator or as a sourceof information, and s/he may choose to make notes on the whiteboard of issues raised, solutionsproposed. This will assist the class in following the direction in which the discussion is moving andthe ‘teacher’ in summarising the principal lessons that can be drawn from a specific case.It is easy for you to ‘opt out’ of case studies either out of shyness or disinterest. The old truism aboutgetting out what you put in is particularly apt for case studies. An individual who is by nature ratherinarticulate in a general discussion has all the more reason to learn to overcome this feeling before asympathetic audience of one’s peers. Please note that those who refuse to ‘help’ in the group maynot find friends to assist them when their own time comes to be the presenter.There will be marked case exercises over Semester 2a and 2b, and you will be asked to prepare acase. Groups are asked to meet, discuss the case and prepare a written report, which will be markedand commented upon. Groups may be required to present their findings to the class. Groupmembers will each receive the mark given to the group report. Please note:- Reports must be handed in by the stated deadline preceding the class session at which the case is taught. Reports received after this time will be penalised.- Reports must be typed on good quality paper in adequate English. Headings are suggested. You should use reasonably full sentences. The whole should, generally, be couched in the form of a consulting report to a client.- Poor presentations will be penalised.- It is a group exercise but all must learn to carry the shared responsibility and gain experience writing up a report.- The course teachers are willing to discuss comments but cannot enter into protracted discussions on marks for individual cases.- The Group “Reporter” (the person nominated to coordinate the writing of the report) is asked to type in alphabetical order the names of all members of the group who attend or contribute to the group report preparation. Anyone not on the list is assumed not to have assisted in the group exercise and will receive no marks for that exercise. In addition, “Reporters” are asked to indicate clearly who they are at the front of the report.Frustrations of Strategic Case StudiesSome people find case studies difficult, even frustrating, because cases draw both on specifictechniques of analysis (i.e. accounting ratios) and on structured common-sense. There is no ‘right’ or‘maestro’ answer. Strategic decisions are not necessarily optimal solutions. Not only is the futureuncertain but, also, the internal political situation; the relationships between the key executives aresuch that certain ideal solutions are unacceptable to some or even all of top management. StrategyPutting you at the heart of business 27 Corporate Strategy
  28. 28. then is also the art of the possible, a best fit, and an acceptable solution given the circumstances.Reality is not clear cut, black and white but an ever changing, shifting, messy shade of grey.Managers have to learn to work with ambiguity, with emotion laden constraints, with insufficient and/orbiased data. Decisions can rarely be taken with the apparent mathematical, scientific precision of thelaboratory, or the engineering formula. Strategy and managerial decision making is hedged in by theunpredictability of human players and of the future.This does not mean that solid qualitative analysis, the use of techniques of strategic analysis (such asthose ‘templates’ offered by Porter) are not helpful. A healthy scepticism, good lateral thinking and acreative approach are equally required, which means that there is rarely an ideal solution. There are,however, a number of possible choices, the most appropriate of which must be weighed andconsidered in the light of the known facts, assumptions and circumstance (like the decision maker’sown ability to carry through and implement the choice made). Assumptions must be identified andmade explicit so that strategy can be adjusted for changes.Group Work for Case StudiesThere is no ideal method as to how groups should operate. Each group will develop its own cultureand ways of doing things that serve its members best. However, a few general comments culled fromthe ‘successful’ (in meeting their own learning aims) groups may be found helpful.- Arrange agreed times at which the group will meet weekly. This should fit with each member’s work and travel schedule. Book one of the group rooms to hold the meeting.- At the first meeting for the weekly case/project, a Chairperson and separately the reporter (to write up the study) will be appointed for the week if not previously agreed. Since everyone will have already read the case, major issues can be isolated at this time - half an hour should suffice. A second meeting 2-3 days later will allow the writer to read out the first draft. Help may be required by some participant reporters with English, grammar, spelling and syntax. All will make comments based on their own notes of the case. The reporter can, so far as feasible, incorporate major points in the final draft. One to one and a half hour sessions should suffice. A third meeting (half an hour) possibly on the morning of the hand-in will revise the final proposal. All to receive a copy of the group’s report to assist in the classroom discussion.- It is not beneficial to the group, or to individual members’ relationships with each other, to spend more than three or four hours on each case in total. You are not expected to bring large amounts of additional information to bear. If you do, you will drown in information overload!- Members will have to learn to speak up, listen, and occasionally ‘shut up’. Strong Chairpersonship may occasionally be required to encourage the shy, and calm the excitable. Further, participants must concentrate on key issues, not spend wasted minutes on trivial points.Private ReadingYou will need to be aware of the major topical business issues and events (and the factors whicheffect business such as economic or political changes), through regular reading of the FinancialTimes, Economist, etc. Furthermore, you may be required to follow up on readings suggested in thereading list.Putting you at the heart of business 28 Corporate Strategy