This document outlines the course details for a strategic management module offered to executive fellows. It includes information on the three faculty teaching the course, their contact details and consultation times. The course aims to provide foundational knowledge in key aspects of strategic management through a series of seminars. Students will analyze assigned readings each week and submit a term paper. The course covers various theories related to economics, sociology, behavior, learning and leadership as they apply to strategic management. Student performance will be evaluated based on class participation and the term paper.

1. EXECUTIVE FELLOW PROGRAMME IN MANAGEMENT
AY 2022-23 MODULE: II
TITLE OF THE COURSE: READINGS IN STRATEGIC MANAGEMENT
CREDITS: 04
Name of the Faculty Faculty Block/
Room No.
Email Telephone
Number
Prof. Prashant Salwan Block - B
Room No. 108
psalwan@iimidr.ac.in 2439541
Prof. Punyashlok Dwibedy Block - J
Room No. 219
punyashlokd@iimidr.ac.in 2439575
Prof. Srinivas Gunta Block - B
Room No. 109
srinivasg@iimidr.ac.in 2439543
CONSULTATION TIME FOR STUDENTS
Name of the Faculty Timing
Prof. Prashant Salwan (PS) Half hour after each session
Prof. Punyashlok Dwibedy (PD) By Appointment
Prof. Srinivas Gunta (SG) By Appointment
COURSE DESCRIPTION
This course is a foundational course on Strategic Management offered to all incoming
EFPM area students in the second term. It deals with the major streams of strategic
management, classical as well as contemporary.
COURSE OBJECTIVES
1) The objective of the course is to provide an understanding and grounding in
selected aspects of strategic management todoctoral students to provide a
lay of the land.
LEARNING OUTCOMES
Expected Learning Outcomes and Associated Measures
At the end of the course student is expected to accomplish the following learning outcomes (CLO).
Alignment of CLO with the Programme. Level Goals & Objectives and Assessment of the learning outcomes
of the course is presented below.
Sr.No Course Learning Outcome Programme Level Goals & Outcomes Assessment Tools

2. 1. To provide an exposure to the
existing literature to develop
original research ideas.
Goal 2: Enable participants to create a
perspective on existing body of
management thought and contribute to it.
2.1 To create a critical perspective of the
existing literature and practice.
Goal 2: Enable participants to create a
perspective on existing body of
management thought and contribute to it.
2.2 To propose original research ideas
based on existing knowledge/practice
2. To provide awareness on
ethical norms in academic
writing.
Goal 3: To develop researchers with high
ethical standards in research work.
3.2 Must exhibit awareness and practice of
ethical norms in academic writing and
research publications
PEDAGOGY/TEACHING METHOD:
The course is offered in the form of a series of seminars. As in any seminar course,
students are expected to carefully read each article in the course and think about
them both conceptually, theoretically and in terms of possible research issues before they
come to the class. In addition, a conceptual or an empirical paper (Term Paper) related to the
major themes of the course will be required of the student. The student will need to
choose the topic in consultation with the instructor. The paper should follow the style
of Academy of Management Review or Strategic Management Journal, be roughly about
5000-8000 words and is required to be submitted in typed form within 15 days of the last
class session.
TEXT BOOK FOR THE COURSE: None
EVALUATION
Individual Component Group Component Weightage (%)
Class Performance 50
Term Paper 50
Total 100
ACADEMIC DISHONESTY
IIM Indore believes in Academic honesty. Academic dishonesty or misconduct is cheating that
relates to an academic activity. It is a violation of trust between the Institute and its
stakeholders. Plagiarism, fabrication, deception, cheating and sabotage are examples of
unacceptable academic conduct. Please consult the Programme manual for the section on
academic dishonesty.
SCHEDULE OF SESSIONS

3. Module I : Theories from Organizational Economics
Module Objective: Introduce theories of Transaction cost economics, and agency theory

4. Session 1 and 2
Objective:
Reading:
Organizational Economics {PS}
These two sessions discuss the seminal articles related to economic
foundations of strategy
Mahoney, J. T. (2004). Economic foundations of strategy. Sage Publications.
Chapter 2, Page 111-131
Mahoney, J. T. (2004). Economic foundations of strategy. Sage Publications.
Chapter 4, Page 200-216
Eisenhardt, K.M. 1989. Agency Theory: An Assessment and Review. Academy
of Management Review
Balakrishnan, S.,& Koza, M. P. (1993). Information asymmetry, adverse
selection and joint-ventures: Theory and evidence. Journal of economic
behavior & organization, 20(1), 99-117.
Session 3
Objective:
Reading:
Resource-based View {SG}
This session looks into the importance of firm resources to generate and
sustain rents
Barney, J. (1991). Firm resources and sustained competitive
advantage. Journal of management, 17(1), 99-120.
Barney, J. B.(2001). Resource-based theories of competitive advantage: A
ten-year retrospective on the resource-based view. Journal of
management, 27(6), 643-650.
Module II Sociological foundations of Strategic Management
Module Objective: Introduce sociological foundations in the area of strategic management

5. Session 4
Objective:
Reading:
Institutional theory {SG}
To discuss institutional theory from both sociological and economics
perspective
DiMaggio, P., & Powell, W. W. (1983). The iron cage revisited: Collective
rationality and institutional isomorphism in organizational fields. American
sociological review, 48(2), 147-160.
Bruton,G. D., Ahlstrom, D., & Li, H. L. (2010). Institutional theory and
entrepreneurship: where are we now and where do we need to move in the
future? Entrepreneurship theory and practice, 34(3), 421-440.
Session 5
Objective:
Reading:
Network Theory {PS}
This session introduces the important role of networks of interfirm ties in
examining fundamental issues in strategy research.
Gulati,R.,Nohria,N.,& Zaheer,A.(2000). Strategic networks. Strategic
management journal, 203-215.
Zaheer, A., Gözübüyük, R.,& Milanov, H.(2010). It's th econnections: The
Network perspective in interorganizational research. The Academy of
Management Perspectives, 24(1), 62-77.
Module III Behavioral foundations of Strategic Management
Module Objective: Introduce behavioral foundations in the area of strategic management

6. Session 6
Objective:
Reading:
Theory of performance feedback {PS}
This session look at the problemistic search behavior of firms
Vissa, B., Greve, H., & Chen, W.-R. (2010). Business group affiliation and
firm search behavior in India: Responsiveness and focus of attention.
Organization Science, 21(3), 696–712.
Kuusela, P., Keil, T., & Maula, M. (2016). Driven by aspirations, but in what
direction? Performance shortfalls, slack resources, and resource-consuming
vs. resource-freeing organizational change. Strategic Management Journal,
38(4), 1101–1120.
Optional:
Posen, H. E., Keil, T., Kim,S.,& Meissner, F. D.(2018). Renewing Research on
Problemistic Search—A Review and Research Agenda. Academy of
Management Annals, 12(1), 208-251.
Session 7 and 8
Objective:
Reading:
Micro foundations in Strategy {PS}
These sessions look at micro foundations of strategic management
Barney, J., Felin, T., 2013. What are microfoundations? Acad. Man- age.
Perspect. 27, 138---155.
Teppo Felin, Nicolai J. Foss & Robert E. Ployhart (2015) The
Microfoundations Movement in Strategy and Organization Theory, The
Academy of Management Annals,.
José F. Molina-Azorín ,(2014) Microfoundations of strategic management:
Toward micro, macro research in the resource-based theory, Business
Research Quarterly
Felin, T., Foss, N., 2005. Strategic organization: a field in search of micro-
foundations. Strategic. Org. 3, 441---455.Felin,
Module IV Organizational learning and Inertia
Module Objective: Introduce the concepts of organizational learning, imprinting and inertia in
the area of strategic management

7. Session 9
Objective:
Reading:
Planning vs. Learning {SG}
In this session, we focus on understanding the differences between
planning and learning, and if they can be complementary.
Mintzberg, H., Pascale, R.T., Goold, M., & Rumelt, R.P. 1996. CMR Forum: The
Honda Effect Revisited. California Management Review, 38(4): 77-117.
Edmondson, A. C., Bohmer, R. M., & Pisano, G. P. 2001. Disrupted Routines:
Team Learning and New Technology Implementation in
Hospitals. Administrative Science Quarterly, 46(4): 685-716.
Session 10
Objective:
Reading:
Organizational learning and Knowledge-based view {PS}
This session looks at the seminal articles on organizational learning.
Levitt, B.,& March, J. G. (1988). Organizational learning. Annual review of
sociology, 14(1), 319-338.
Hargadon,A.,&Fanelli,A.(2002).Action and possibility:Reconciling dual
perspectives of knowledge in organizations. Organization Science, 13(3), 290-
302.
Session-11
Objective:
Organizational Inertia and Imprinting {PS}
This session looks at the concepts of inertia and organizational
imprinting.
Hannan, M. T., & Freeman, J. (1984). Structural inertia and
organizational change. American sociological review,149-164.
Simsek, Z., Fox, B. C., & Heavey, C.(2015). “What’s past is prologue” A
framework, review, and future directions for organizational research on
imprinting. Journal of Management, 41(1), 288-317.
Module V Upper Echelons: Leadership theories from Design Perspective
Module Objective: A deeper look at influence of leaders and leadership team on a firm

8. Session 12-13
Objective:
Reading:
Optional Reading
Understand Upper Echelon theory {PD}
To study upper echelon theory and state of research in leadership succession
studies from a strategic management perspective
Hambrick, D. C., & Mason, P. A. (1984). Upper echelons: The organization as a
reflection of its top managers. Academy of management review, 9(2),
193- 206.
Carpenter, M. A., Geletkanycz, M. A.,& Sanders, W. G. (2004). Upper echelons
research revisited: Antecedents, elements, and consequences of top
management team composition. Journal of management, 30(6), 749-778.
Zhang, Y., & Rajagopalan, N. (2010). Once an outsider, always an outsider?
CEO origin, strategic change, and firm performance. Strategic Management
Journal, 31(3), 334-346.
Hutzschenreuter, T., Kleindienst, I., & Greger, C.(2012). How new leaders
affect strategic change following a succession event: A critical review of the
literature. The Leadership Quarterly, 23(5), 729-755.
Hambrick, D. C. (2007). Upper echelons theory: An update. Academy of
management review, 32(2), 334-343.
Module VI Organizational Growth: Internationalization theories
Module Objective: Introduce the salient theories in internationalization

9. Session 14-15
Objective:
Reading:
Optional Reading
Prominent theories of Internationalization {PS}
These sessions discuss prominent theories related to internationalization of
firms, primarily OLI and Uppsala models
Dunning, J. H. (2001). The eclectic (OLI) paradigm of international
production: past, present and future. International journal of the economics
of business, 8(2), 173-190.
Johanson, J., & Vahlne, J. E. (2009). The Uppsala internationalization process
model revisited: From liability of foreignness to liability of outsidership.
Journal of international business studies, 40(9), 1411-1431.
Cuervo-Cazurra, A. (2012). Extending theory by analyzing developing country
multinational companies: Solving the Goldilocks debate. Global Strategy
Journal, 2(3), 153-167.
Luo, Y., &Tung, R. L.(2007). International expansion of emerging market
enterprises: Aspring board perspective. Journal of International Business
Studies, Vol. 38, No. 4
Mathews, J. A. (2006). Dragon multinationals: New players in 21st century
globalization. Asia Pacific journal of management, 23(1), 5-27.
Dunning, J. H. (2006). Comment on Dragon multinationals: New players in
21st century globalization. Asia Pacific Journal of Management, 23(2), 139-
141.
Module VII the Context: Institutional Voids and Firm/ Group Structures
Module Objective:A theoretical explanation of why certain organizational forms have
been the preferred over others in different economies.

10. Session 16-17
Objective:
Reading:
Institutional Voids {SG}
To look at the development of different organization structures,
prominently business groups in emerging economies
Khanna, T., & Yafeh, Y. (2007). Business groups in emerging markets:
Paragons or parasites? Journal of Economic literature, 45(2), 331-372.
Khanna, T., & Palepu, K. (2000). Is group affiliation profitable in
emerging markets? An analysis of diversified Indian business groups. The
Journal of Finance, 55(2), 867-891.
Khanna, T., & Rivkin, J.W.(2001).Estimating the performance effects of
business groups in emerging markets. Strategic management journal, 45-74.
Manikandan,K.S., &Ramachandran,J.(2015).Beyond institutional
voids: Business groups, incomplete markets, and organizational form. Strategic
Management Journal, 36(4), 598-617.
Session 18
Objective:
Reading:
Business Groups - A consolidated view {SG}
Looking at a summary and critique of business groups
Carney, M., Gedajlovic, E. R., Heugens, P. P., Van Essen, M., & Van
Oosterhout, J. H.(2011). Business group affiliation, performance, context,
and strategy: A meta-analysis. Academy of Management Journal, 54(3), 437-
460.
Chittoor, R.,Kale, P.,& Puranam, P.(2015). Business groups in developing
capital markets: Towards a complementarity perspective. Strategic
Management Journal, 36(9), 1277-1296.
Module VIII Control and Influence: Boards and Corporate Governance
Module Objective: Introduction of the topic of corporate governance through theoretical and
empirical work in multiple fields of Finance, Public Policy and Strategic Management

11. Sessions 19-
20
Objective:
Reading:
Relationship between the Board of Directorsand firms {SG}
Building on the theories studied in the course, understand the development of
the Board functions, its role and relationship with different stakeholders.
Fama, E. F., & Jensen, M. C. (1983). Separation of ownership and control. The
journal of law and Economics, 26(2),301-325.
Hillman, A. J., & Dalziel, T. (2003). Boards of directors and firm performance:
Integrating agency and resource dependence perspectives. Academy of
Management review, 28(3), 383-396.
Young, M. N., Peng, M. W., Ahlstrom, D., Bruton, G. D., & Jiang, Y. (2008).
Corporate governance in emerging economies: A review of the principal–
principal perspective. Journal of management studies,45(1), 196-220.
Khanna, T., & Palepu, K. (2005). The evolution of concentrated ownership
in India: broad patterns and a history of the Indian software
industry. In A history of corporate governance around the world: Family
business groups to professional managers (pp. 283-324). University of
Chicago press.
Additional Readings
The following books are recommended for supplementary reading:
CLASSICS (Books)
1. Barnard, ChesterI. (1938). The Functions of the Executive. Cambridge Mass: Harvard
University Press.
2. Herbert Simon 1945 (1976) Administrative Behavior
3. Selznick P. (1957). Leadership in Administration: A Sociological Interpretation. New
York: Harper and Row.

12. 4. Chandler, A.D. (1962) Strategy and Structure. Cambridge, MA: MIT Press.
5. Cyert and March, (1963) Behavioral Theory of the firm
6. Ansoff, H.I. (1965) Corporate Strategy. New York: McGraw Hill.
7. Thompson, 1967, Organizations in Action.
8. Andrews, K.R.(1971). The Concept of Corporate Strategy. Homewood, Illinios: Dow-
Jones Irwin.
9. Rumelt, R.P. (1974). Strategy, Structure and Economic Performance. Cambridge, MA:
Harvard University Press.
10. Miles, R.E. and Snow, J.G. (1978). Organization Strategy, Structure, and Process. New
York: McGraw-Hill.
11. Pfeffer & Salancik, (1978). The External Control of Organizations
12. Porter, M.E. (1980). Competitive Strategy. New York: The Free Press.
13. Porter, M.E. (1985). Competitive Advantage. New York: The Free Press.
14. Ghemawat, Pankaj (1991). Commitment- The Dynamic of Strategy, New York: Free
Press
15. Richard Rumelt(2011). Good Strategy Bad Strategy: The Difference and Why It
Matters
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