Bus475.Nov09.1

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Business 475 - INTEGRATED BUSINESS TOPICS

Class 1: INTRODUCTION TO STRATEGIC MANAGEMENT

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  • Conflict between owners and managers
    Wall street – outsize risks
  • Milton Friedman
  • Bus475.Nov09.1

    1. 1. Welcome
    2. 2. Who the hell is Larr y ?
    3. 3. Who the hell is Larr y ? He was born here...
    4. 4. *disclaimer: I wasn’t really born here, but there are no good pictures of Rochester, NY
    5. 5. raised here...
    6. 6. *disclaimer: I did have a home, I wasn’t raised on the streets
    7. 7. Went to school here...
    8. 8. Carnegie Mellon University & Tepper School of Business
    9. 9. Went to work and live here...
    10. 10. Management Science Associates (consulting)
    11. 11. Where he cheered for...
    12. 12. and...
    13. 13. and tried to ignore...
    14. 14. Then he went overseas to here...
    15. 15. (Geneva Switzerland)
    16. 16. then here...
    17. 17. Then he had his own internet startup
    18. 18. I’m gonna be rich!
    19. 19. ...in 1999...
    20. 20. Then he worked in offshore outsourcing...
    21. 21. Development is cheaper offshore!
    22. 22. Until he got outsourced...
    23. 23. Marketing is cheaper offshore too! Hey, wait!
    24. 24. Then he moved here …
    25. 25. but it felt like here …
    26. 26. Started a marketing consulting firm …
    27. 27. Adopted a best friend...
    28. 28. The dog, not the beer. Beer is 2nd best friend.
    29. 29. and started teaching at UOP...
    30. 30. That’s who I am.
    31. 31. That’s who I am. Who the hell are you? • How old are you? • How long in program? • Where do you work? • Peer interview
    32. 32. Peer interviews: 10 minutes
    33. 33. What you will learn
    34. 34. 1 Introduction to Strategic Management
    35. 35. 2 Internal and External Environment
    36. 36. 3 Strategy development
    37. 37. 4 Strategy Implementation
    38. 38. 5 Monitoring and Control
    39. 39. Grading & Class Policies
    40. 40. Week 1 Points Importance of Strategic Planning and Management in the Business Environment Paper 5
    41. 41. Week 1 Points Importance of Strategic Planning and Management in the Business Environment Paper 5 Week 2 Individual Assignment: Conceptualizing a Business 5 Individual Assignment: Value Alignment 10 Learning Team Assignment: Business Selection Discussion 2
    42. 42. Week 1 Points Importance of Strategic Planning and Management in the Business Environment Paper 5 Week 2 Individual Assignment: Conceptualizing a Business 5 Individual Assignment: Value Alignment 10 Learning Team Assignment: Business Selection Discussion 2 Week 3 Individual Assignment: SWOTT Analysis Paper and Table 5 Learning Team Assignment: Considerations of a Strategic Plan List 2 Learning Team Assignment: Functional Area Interrelationships 10
    43. 43. Week 1 Points Importance of Strategic Planning and Management in the Business Environment Paper 5 Week 2 Individual Assignment: Conceptualizing a Business 5 Individual Assignment: Value Alignment 10 Learning Team Assignment: Business Selection Discussion 2 Week 3 Individual Assignment: SWOTT Analysis Paper and Table 5 Learning Team Assignment: Considerations of a Strategic Plan List 2 Learning Team Assignment: Functional Area Interrelationships 10 Week 4 Individual Assignment: Balanced Scorecard 10 Learning Team Assignment: Strategic Direction Evaluation 2
    44. 44. Week 1 Points Importance of Strategic Planning and Management in the Business Environment Paper 5 Week 2 Individual Assignment: Conceptualizing a Business 5 Individual Assignment: Value Alignment 10 Learning Team Assignment: Business Selection Discussion 2 Week 3 Individual Assignment: SWOTT Analysis Paper and Table 5 Learning Team Assignment: Considerations of a Strategic Plan List 2 Learning Team Assignment: Functional Area Interrelationships 10 Week 4 Individual Assignment: Balanced Scorecard 10 Learning Team Assignment: Strategic Direction Evaluation 2 Week 5 Individual Assignment: Tactics and Strategies 5 Individual Assignment: Final Strategic Plan and Presentation 15 Individual Assignment: Final Examination 15 Learning Team Assignment: Communication Plan Outline 4
    45. 45. Week 1 Points Importance of Strategic Planning and Management in the Business Environment Paper 5 Week 2 Individual Assignment: Conceptualizing a Business 5 Individual Assignment: Value Alignment 10 Learning Team Assignment: Business Selection Discussion 2 Week 3 Individual Assignment: SWOTT Analysis Paper and Table 5 Learning Team Assignment: Considerations of a Strategic Plan List 2 Learning Team Assignment: Functional Area Interrelationships 10 Week 4 Individual Assignment: Balanced Scorecard 10 Learning Team Assignment: Strategic Direction Evaluation 2 Week 5 Individual Assignment: Tactics and Strategies 5 Individual Assignment: Final Strategic Plan and Presentation 15 Individual Assignment: Final Examination 15 Learning Team Assignment: Communication Plan Outline 4 Participation 10
    46. 46. Class policies • All assignments are due in individual or team forums by 6 p.m. • Late penalties are 10% per day. • No assignments accepted after the final day of class. • Technology issues ( forgotten attachments) are not valid late excuses. Email papers if ecampus becomes goes down. • Learning teams will most always receive the same grade, however I reserve the right to assign individual grades for substantial imbalance of workload or quality.
    47. 47. 1st break, learning team formation & research
    48. 48. Strategy in the news vs.
    49. 49. President Supermodel Castaway
    50. 50. Strategic Management
    51. 51. What is strategic management? How does your* company use it? groups of 3 or 4 10 minutes Select one person to report
    52. 52. exercise What is strategic management? How does your* company use it? groups of 3 or 4 10 minutes Select one person to report
    53. 53. Strategic management The set of decisions and actions that result in formulation and implementation of plans designed to achieve a company’s objectives
    54. 54. “A strategy delineates a territory in which a company seeks to be unique.” michael porter
    55. 55. tactic how how tactic strategy tactic tactic how tactic
    56. 56. tactic how how tactic WHAT tactic tactic how tactic
    57. 57. we’re CHEAP
    58. 58. technology scale we’re CHEAP logistics bargaining
    59. 59. CHANGE
    60. 60. healthcare CHANGE close gitmo torture
    61. 61. we’re FAST
    62. 62. tracking we’re FAST training hub & spoke
    63. 63. Mission, Vision & Values Statements
    64. 64. What is a company mission?
    65. 65. mission noun • [in sing. ] an organization or institution involved in a long-term assignment in a foreign country : the majestic garden of the West German mission | : [as adj. ] the mission school. • a strongly felt aim, ambition, or calling : his main mission in life has been to cut unemployment. • an expedition into space.
    66. 66. The unique purpose that sets a company apart from others of its type and identifies the scope of its operations. In product, market, and technology terms.
    67. 67. havethat It doesn’t to be boring
    68. 68. “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth”
    69. 69. Alcoa's Values Integrity Alcoa’s foundation is our integrity. We are open, honest and trustworthy in dealing with customers, suppliers, coworkers, shareholders and the communities where we have an impact. Environment, Health and Safety We work safely in a manner that protects and promotes the health and well-being of the individual and the environment. Customer We support our customers' success by creating exceptional value through innovative product and service solutions. Excellence We relentlessly pursue excellence in everything we do, every day. People We work in an inclusive environment that embraces change, new ideas, respect for the individual and equal opportunity to succeed. Profitability
    70. 70. We live our Values and measure our success by the success of our customers, shareholders, communities and people. Alcoa's Principles Integrity • We live our Values everywhere, all of the time. • We demonstrate integrity in our behavior and actions. • We keep our promises. • We have the confidence and courage to ask for help. • We expect integrity from every Alcoan and do not tolerate unethical behavior. • We avoid conflicts of interest but will declare situations where they may occur. • We expect integrity from our customers, suppliers, and others who do business with us. • We communicate openly with individuals and communities on issues that affect them. Environment, Health and Safety • We value human life above all else and manage risks accordingly. • We relentlessly pursue and continually improve EHS systems and processes to achieve an EHS incident-free workplace. • We do not compromise our EHS Value for profit or production. • We comply with all laws and set higher standards for ourselves and our suppliers where unacceptable risks are identified. • We support pollution prevention and sustainable development, by incorporating social responsibility, economic success and environmental excellence into our decision making process. • We measure and assess our performance and are open and transparent in our
    71. 71. • We measure and assess our performance and are open and transparent in our communications. • We supply and use safe and reliable products and services. • We use our EHS knowledge to enhance the safety and well-being of our communities. • We are all accountable for conforming with and deploying our EHS Value and Principles. Customer • We deeply understand our customers needs and consistently meet or exceed them through ABS. • We build strong long-term customer relationships at all levels. • We cross organizational and geographic boundaries to seamlessly serve customers. • We are the leader in our chosen market segments. • We develop innovative product, service, and information solutions. • We develop and nurture clear Alcoa and product brand identities. • We develop and maintain a strong commercial organizational capability. Excellence • We continuously set goals beyond the best. • We demand, recognize, and reward excellence. • We achieve system excellence through application of the rules of our system and by rapidly implementing best practices. • We eliminate waste by rapidly solving problems at their source. • We move practical and theoretical limits through innovation.
    72. 72. by rapidly implementing best practices. • We eliminate waste by rapidly solving problems at their source. • We move practical and theoretical limits through innovation. • We have rapid change as a mindset. • We are committed to excellence by living our Values. • We empower our people through a diverse learning organization to capture the best from everyone. People • We treat each other with dignity and respect at all times. • We seek to understand each other's ideas and suggestions. • We value diversity and our individual differences. • We create and seize opportunities for growth and development. • We seek and accelerate change. • We continuously re-design our work to eliminate waste and improve the value of our work. • We provide appreciative and constructive feedback to each other to improve our individual and team performance. • We create the appropriate balance in our work and family lives. • We create value in the community in which we live and work, through our presence and leadership. Profitability • We all understand how our job contributes to profitability. • We eliminate waste every day, reducing our costs and capital requirements.
    73. 73. • We all understand how our job contributes to profitability. • We eliminate waste every day, reducing our costs and capital requirements. • We earn our right to grow by achieving returns that exceed our cost of capital. • We aggressively pursue organic growth by creating exceptional value for customers. • We make strategic acquisitions and integrate them excellently. • We openly and effectively communicate our financial results internally and externally. • We do not make money at the expense of our Values. Accountability • We first recognize our role and responsibilities, then take ownership, and accept the consequences of our actions. • We act with a sense of ownership in our workplace. • We encourage an environment of risk taking within the context of accountability. • We solve the problems in our area of responsibility and drive continuous improvement of our work. • We do what we say we will do. • We communicate openly as positive team members to increase the performance of our teams. • We recognize the impact that our own actions have in all outcomes. • We recognize individual and team accomplishments and successes.
    74. 74. Your mission: find all the mission statements you can in 15 minutes
    75. 75. To defend the United States through control and exploitation of air and space
    76. 76. Guaranteed. Period.
    77. 77. "…finding solutions for families, especially busy moms." 
    78. 78. "We are committed to achieving new standards of excellence by providing superior human capital management services and maximizing the potential of all stakeholders - clients, candidates and employees - through the delivery of the most reliable, responsive, flexible, and cost-effective services possible."
    79. 79. Aflac insurance policies may help you with those expenses not covered by your major medical plan.
    80. 80. The subversion of the class structure of 19th century England by making available to the working and lower-middle classes, upper-class quality at prices the working and lower- middle classes could well afford.
    81. 81. What is the difference between a mission and a vision?
    82. 82. What Where do business are we want to we in? be
    83. 83. fundamenta Articulating a Vision seldom, if ev To identif tion, push w values are tr Core Ideology five or six, c Core values values (whic Core purpose tices, busine should be o must stand preliminary one, If the ci for holding t Envisioned Future you can’t ho 10-to-30-year BHAG core and sho (Big, Hairy, Audacious Goal) Vivid description A high-te it should pu CEO asked, make a hoo the only th horsepower
    84. 84. “However, in actual practice, the mission and vision statement are frequently combined into a single statement.”
    85. 85. Organizational structure, culture, and purpose
    86. 86. The basic corporate structure Board & CEO
    87. 87. The basic corporate structure Board & CEO Human R&D Finance Marketing Operations Resources
    88. 88. The centralized multi-business structure Board & CEO R&D Finance Marketing Operations Human Resources
    89. 89. The centralized multi-business structure Board & CEO R&D Business Unit Business Unit Business Unit Business Unit Finance Marketing Operations Human Resources
    90. 90. The de-centralized multi-business structure Board & CEO Business Unit Business Unit Business Unit Business Unit Business Unit R&D R&D R&D R&D R&D Finance Finance Finance Finance Finance Marketing Marketing Marketing Marketing Marketing Operations Operations Operations Operations Operations Human Human Human Human Human Resources Resources Resources Resources Resources
    91. 91. Centralized v. De-centralized
    92. 92. Agency theory
    93. 93. Stakeholders
    94. 94. Casablanca Cruise Lines
    95. 95. Casablanca Cruises • Bought two used Ocean Liners • Retrofitting for luxury playground • Active seniors
    96. 96. A slight problem. . . • Ships have Asbestos • Must be removed • Costs $100M in United States • Costs $20M in Novastan • You have to do it for less than $30M
    97. 97. Novastan Health Regulations • Workers must have gloves, overalls, masks, boots respirators • U.S. there are respirators, negative airflow control, much more sophistication
    98. 98. Decision has been made • Moving ahead with project • Abiding by Novastani regulations • plus a little more
    99. 99. Are they wearing the masks? • Talking to on-site project manager • Men are not wearing masks • What do you do?
    100. 100. Disclosure • Bleeding heart magazine • Photos of Novastan job site • No masks, 14 year old workers
    101. 101. Review
    102. 102. we’re CHEAP
    103. 103. technology scale we’re CHEAP logistics bargaining
    104. 104. CHANGE
    105. 105. healthcare CHANGE close gitmo torture
    106. 106. we’re FAST
    107. 107. tracking we’re FAST training hub & spoke
    108. 108. Inspire Clarify Define
    109. 109. Assignments
    110. 110. Week 2 Individual Assignment: Conceptualizing a Business 5 Write a 1,050-1,400-word paper in which you explain the importance of your selected business’ vision, mission, and values in determining your strategic direction.
    111. 111. Week 2 Individual Assignment: Conceptualizing a Business 5 Individual Assignment: Value Alignment 10 Select an existing organization with which you are familiar that is different than the one you used for the “Conceptualizing a Business” paper. • Write a 700-1,050-word paper in which you analyze the individual values and the organization’s values as reflected by the organizations plans and actions
    112. 112. Week 2 Individual Assignment: Conceptualizing a Business 5 Individual Assignment: Value Alignment 10 Learning Team Assignment: Business Selection Discussion 2 Discuss with your Learning Team your selected business from the Week One assignment, Importance of Strategic Planning and Management in the Business Environment Paper. In this discussion, share your ideas about what your business is and what you hope it will become.
    113. 113. Week 2 Individual Assignment: Conceptualizing a Business 5 Individual Assignment: Value Alignment 10 Learning Team Assignment: Business Selection Discussion 2 Business selection discussion Use your forums One thread per person/business Contribute at least one post per person Summarize your thread
    114. 114. Next Week
    115. 115. SWOTT Analysis Environmental scanning

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