Strategic management undergraduate capstone course slides for opening session introducing course approach, its value and strategy scape.

1. Strategy: Striking the flame
Josephine Stomp
Strategic Management
Session 1, W2014
© jstomp@uwindsor.ca
1

2. TODAY’S TAKEAWAYS
1. Why experiential learning matters
2. Why strategy matters
3. What strategy includes
4. How strategy has shifted focus
2
© jstomp@uwindsor.ca

3. In the REAL WORLD
Business professionals don’t answer tests. They
solve problems + provide decision support.
This requires curiosity + knowhow
• To ask questions + challenge assumptions
• To collect, organize + analyze data
• To generate ideas
• To create understanding
• To execute
• AND a desire to never stop learning.
3
© jstomp@uwindsor.ca

4. COURSE APPROACH
GOALS
1. Adopt organization‐wide focus
2. Develop critical thinking
3. Turn data into meaning
4. Make informed recommendations
MEANS
1. Understanding through application
2. Building skills through practice
3. Learning by peer + teacher mentoring
4. Walking in a CEO’s or manager’s shoes 4
© jstomp@uwindsor.ca

5. COURSE COMMUNICATIONS
COURSE OUTLINE: Your guide
• Assignments, dates + rubrics
CLEW: Your resource + message centre
• Content [lecture + textbook slides, useful articles + videos]
• Updates + announcements
• Grades
TWITTER: Your live update
• On‐point evolving stories
• To‐the‐point case + class tips
OFFICE HOURS: Your reach out
• Mondays, 16:00 to 19:00 + Wednesdays, 16:00 to 19:00 5

6. 6APATHY
INTEREST
UNDERSTANDING
COURSE JOURNEY
© jstomp@uwindsor.ca

7. WHAT is BUSINESS or CORPORATE STRATEGY?
7
© jstomp@uwindsor.ca

8. STRATEGY EXPLORES
Why are some organizations and
their managers much more
successful than others?
Michael Porter explores what
strategy is and is not
8
© jstomp@uwindsor.ca

9. STRATEGY spans gap between WHAT IS + COULD BE
 NO company is too big to fail, too small to excel or too good not
to be better
 Strategic change should be relevant, extraordinary, energizing +
learning forward
 Solutions should address
 Complexity, uncertainty + risk
 Short‐term vs. long‐term
 Innovation + efficiency
 The triple‐bottom line
9
© jstomp@uwindsor.ca

10. STRATEGY’S FIELD: VISION to IMPLEMENTATION
10
© jstomp@uwindsor.ca

11. STRATEGY DIAMOND COMPONENTS
11
© jstomp@uwindsor.ca

12. STRATEGY ALIGNS ORGANIZATIONAL LEVELS
12
Corporate strategy
Divisional or business unit
strategies
Functional or departmental
strategies
© jstomp@uwindsor.ca

13. STRATEGY: IMPLEMENTATION LEVERS MATTER
13
© jstomp@uwindsor.ca

14. REALIZED STRATEGY: The GOOD + The BAD
14
© jstomp@uwindsor.ca

15. STRATEGY’S SHIFT to a DYNAMIC FOCUS
15
EXTERNAL
Industry analysis
Industry attractiveness
Extraordinary
performance based on
Industry selection +
positioning
INTERNAL
Firm resources +
capabilities
Extraordinary
performance based on
based on valuable,
rare + inimitable
resources
DYNAMIC
Disruptive capabilities
Emergent opportunities
Extraordinary performance
based on resources that set
pace + direction of change
as opportunities emerge
© jstomp@uwindsor.ca

16. ROLE MODEL
• Under Armour
• New kid on the block in a mature industry
populated by giants
• Check the backstory on how Kevin Plank
moved Under Armour from an idea ‘born out
of necessity’ to a start up and a successful
business in 1996 using $17k from selling
roses on campus on Valentine’s Day
16
© jstomp@uwindsor.ca

17. REVIEW
• Strategy does not include implementation.
• Realized strategy should match intended strategy.
• Inimitability guarantees extraordinary performance.
17
True False
True False
True False
© jstomp@uwindsor.ca