Management 4970 Strategic Management University of Missouri Professor: Todd Chiles, Ph.D. Office: 443 Cornell Hall Office Hours: MW 3:20-4:20pm and by appt.
Winter 2009 Phone: 573-884-9709 Email:
[email protected] Class: MW 2:00-3:15pm
I. Course Description Welcome to the ―capstone‖ business course that focuses on strategic problems encountered by managers in a competitive global environment. In this course, you will learn a set of tools and a way of thinking about strategic management that can be applied in large corporations, medium-sized companies and small businesses, as well as by investors and consultants. You can use what you learn to help companies formulate and implement strategies that create competitive advantage and superior shareholder value. More specifically, you will take on the role of strategy consultants for a company of your choosing. Using the concepts, frameworks and tools of strategic management, your job will be to bring to bear the diverse talents of your group in investigating the strategic history of your firm, in conducting strategic analyses of your firm and its external environment, in assessing its business strategy as formulated and as implemented, and in formulating strategic recommendations. Our topic—strategic management—is decidedly multifaceted. It involves people at all levels of the organization. It deals simultaneously with the analytical, behavioral and creative aspects of business. It is part art and part science. And it recognizes that most real business problems are multi-functional in nature, and therefore adopts an integrative approach. Thus, you must bring to bear (1) your knowledge from previous coursework in accounting, finance, human resources, marketing, operations, and information technology, (2) your work experience, and (3) your creativity, intuition and business judgement. This course provides the general management skills necessary for the company’s top leaders to strategically navigate their organization through competitive waters. While top-level managers have traditionally assumed the strategic leadership role in organizations, this ―top manager‖ focus is giving way to a ―democratization of strategy‖ in which employees at all levels actively participate in the formulation of strategy. Reebok and EDS provide excellent examples of this. So, this course not only prepares those ready to assume top leadership roles, but also those whose careers are currently at the staff, supervisory, or middle-management level. My students who own small businesses as well as those who have chosen to work for smaller companies report being able to immediately and effectively apply these concepts, frameworks and tools. Additionally, this course provides you with a consulting model should your interests run more in that direction. II. Course Objectives 1. Knowledge Objectives To provide a broad perspective of the business enterprise in all its complexity. To integrate knowledge from the functional specialties of business (e.g., accounting, finance, human resources, marketing, operations). To build a ―cognitive map‖ for understanding organizations in a strategic way. To reinforce (and sometimes challenge) your existing knowledge, situating it within a broader context. 2. Skill Objectives To learn how to apply strategic management frameworks and tools to comprehensively analyze a real business. To hone your ability to persuasively communicate analytical conclusions and business judgements, both verbally and in writing. To sharpen your interpersonal skills critical for success in team environments.
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III. Content Outline Conceptual Foundations of Strategic Management The multi-faceted concept of strategy including plan, ploy, position, perspective, and pattern strategies. A systems perspective of strategy using a modified and updated version of the venerable 7S framework to understand strategy formulation and implementation. External Environment Strategic groups Industry forces Macroenvironmental trends Competitors’ strategies, capabilities, and actions Customers’ perceptions Internal Environment Strategic History Intended, emergent, and realized strategies First-mover advantages and disadvantages Strategy Formulation Corporate vision, mission, purpose, goals, and “mantra” Business-level strategic positioning Strategy Implementation Core competencies Organizational structure Organizational culture Organizational leadership Value-creation activities Strategic Configuration Strategic fit of organizational sub-systems which comprise strategy formulation and implementation Firm Performance Financial analysis of firm performance, assessing cost structure and financial ratios. Balanced scorecard assessment of both backward-looking financial and forward-looking operational measures of firm performance. Strategic Recommendations Brainstorming in a unique three-step process to generate creative recommendations or to uncover additional strengths, weaknesses, opportunities, and threats. SWOT analysis to distill the most important opportunities and threats from the external analyses and the most important strengths and weaknesses from the internal analyses, a necessary precursor to developing strategic recommendations. TOWS matrix to systematically develop a variety of strategic recommendations that are tightly linked to all prior detailed analyses. Corporate-level strategy to assess what portfolio of businesses a company should (and should not) have, an important consideration for making divestiture and merger-and-acquisition recommendations.
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IV. Course Materials A readings packet is required and available at the University Bookstore. This packet contains classic and foundational articles from premier business practitioner journals such as Harvard Business Review, Academy of Management Executive, California Management Review, and Business Horizons. It also contains basic materials excerpted from texts, journals and leading books, including ones from Harvard Business School Press. And it includes articles selected from the business press (e.g., Business Week, Fortune, Wall Street Journal) for their pedagogical value, some of which will be used as cases to explore strategic issues in greater depth. Additional business press articles may be assigned. Stay tuned for details. Course website contains lecture notes, announcements, ancillary material, etc. You can log in to Blackboard from the following web page: https://courses.missouri.edu/. Please check frequently for announcements. V. Prerequisites MGMT 3000, MKTG 3000, FINC 3000, and Senior Standing and TCOB students – restricted to TCOB seniors admitted to the professional program. Students failing to meet prerequisites will be dropped from the course. Please be aware that instructors do not have the ability to waive prerequisites. VI. Course Evaluation The evaluation techniques and their respective weights are as follows: “Capstone” Project Checkpoint 1 Initial Presentation & Bound Copy of Slides (10%) Checkpoint 2 Selected External Analyses (12%) Checkpoint 3 Selected Internal Analyses (10%) Checkpoint 4 Selected External, Internal, and Meta-Analyses (5%) Checkpoint 5 Final Presentation & Bound Copy of Slides (12%) Checkpoint 6 Final Report (20%)
69%
Quizzes 10 Quizzes
31%
Total
100%
Student performance will be evaluated on the following 100-point, plus/minus grading scale. Please note that the instructor reserves the right to curve class grades as necessary. Percentage Grade Description 100 – 97% A+ Excellent 96 – 93% A 92 – 90% A– 89 – 87% B+ Good 86 – 83% B 82 – 80% B– 79 – 77% C+ Average 76 – 73% C 72 – 70% C– 69 – 67% D+ Below Average 66 – 63% D 62 – 60% D– Less than 60% F Failing
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VII. Course Requirements 1. “Capstone” Project Choosing Group Members and Companies. You will take on the role of strategy consultants to a company. Your group will consist of approximately 6-7 people and should be as diverse as possible in terms of functional background. Each group will be required to choose a company. It is very important to pick a firm that is interesting to the group; so you’ll need to work at building consensus. Choice of firms should be limited to ones for which sufficient secondary data exist (i.e., a publicly held firm). Firms to which you can gain some degree of direct access are especially good choices (e.g., Wal-Mart, Home Depot, McDonald’s) as are firms about which books (e.g., Apple, Coors, Home Depot, Starbucks, Harley Davidson) and cases (e.g., Wal-Mart, K-Mart, AOL, Starbucks, Harley Davidson) have been written. You need to consider the tradeoffs of choosing a firm engaged in a single-line-of-business (e.g., McDonald’s) versus a strategic business unit (SBU) within a multiple-line-of-business firm (e.g., Disney’s theme park SBU). PLEASE NOTE: It is your responsibility to engage in a ―due diligence‖ exercise for at least one (and perhaps several) companies to ensure yourselves and me that you have chosen a viable company for the project. Further, it is your responsibility to come see me in advance of the final due date with ―due diligence‖ evidence in hand, so that I can provide advice and feedback. Finally, you need to make sure that I have approved your choice of companies on or before the deadline noted in the course outline. To facilitate your due diligence effort, you are required to review and complete the "Due Diligence" Exercise: Ground Rules, Expectations and Checklist available on the course web site. Failure to complete the due diligence exercise by the ―due date‖ (see ―course outline‖ below for ―instructor’s final approval of company for project‖) will result in a 2% reduction in your overall course grade (e.g., 88% 86%). General Requirements. Each group will be required to conduct a comprehensive strategic analysis utilizing a range of strategic frameworks and tools. You will essentially be addressing three broad questions: (1) Where has the company been? (2) Where is the company now? (3) Where should the company be heading in the future and how should it get there? You will have a number of checkpoints at which to present your findings. The specifics of each of these checkpoints are outlined below. Checkpoint #1: Strategic history. Here you are asked to investigate your firm’s strategic history. Researching and reporting your firm’s strategic history has two important goals: (1) to force the group to come up to speed quickly on their chosen firm, and (2) to understand the strategic path that the firm has followed. Since a firm’s current and future strategies are constrained by past strategic directions, resource commitments, investment decisions, managerial mindsets, and a host of other historical factors, you need to gain a thorough understanding of your firm’s strategic history. You are required to tell a story about the evolution of your company’s strategy by organizing qualitative evidence and time-series data using strategic eras and relevant categories to organize your storyline. Each group must deliver this story in a 20-minute presentation. This time limit will be strictly enforced. Please see the instructional note on oral presentations below for additional information. In addition, you are required to submit a spiral- or coil-bound hardcopy of your overheads immediately prior to your presentation. In the bound hardcopy, be sure to provide a list of references. Please provide a professional quality cover page with the company’s name, the checkpoint number, your group number, the name of the course (MGMT 4970), the time of the course (i.e., 2:00), the semester of the course (i.e., Winter 2009), and group member names in alphabetical order. The feedback provided should be incorporated in the final report. Checkpoint #2: Selected external analyses. You are required to hand in the following analyses in this order: (1) strategic group, (2) five-forces. Be sure to organize the forces in the following order: (1) Rivalry among Existing Competitors, (2) Threat of New Entrants, (3) Threat of Substitute Products, (4) Bargaining Power of Suppliers, and (5) Bargaining Power of Buyers. These two analyses should be written up as exhibits for the final report. Please provide a professional quality cover page with the company’s name, the checkpoint number, your group number, the name of the course (MGMT 4970), the time of the course (i.e., 2:00), the semester of the course (i.e., Winter 2009), and group member names in alphabetical order. Please bind with a staple in the upper left-hand corner. (No
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fancy bindings or covers, please.) The feedback provided on these graded analyses should be incorporated in the final report. Checkpoint #3: Selected internal analyses. You are required to hand in the following analyses in this order: (1) VRIO analysis/core competence metaphor, (2) organizational culture analysis. (Be sure to organize the VRIO analysis/CC metaphor in the following order: (1) VRIO, and (2) CC metaphor.) These analyses should be written up as exhibits for the final report. Please provide a professional quality cover page with the company’s name, the checkpoint number, your group number, the name of the course (MGMT 4970), the time of the course (i.e., 2:00), the semester of the course (i.e., Winter 2009), and group member names in alphabetical order. Please bind with a staple in the upper left-hand corner. (No fancy bindings or covers, please.) The feedback provided on these graded analyses should be incorporated in the final report. Checkpoint #4: Selected external, internal and meta-analyses. You are required to hand in the following analyses in this order: (1) macroenvironmental analysis, (2) organizational structure analysis, (3) 7S analysis, (4) financial and ratio analysis, and (5) brainstorming. These analyses should be written up as exhibits for the final report. Please provide a professional quality cover page with the checkpoint number, the company’s name, your group number, the name of the course (MGMT 4970), the time of the course (i.e., 2:00), the semester of the course (i.e., Winter 2009), and group member names in alphabetical order. Please bind with a staple in the upper left-hand corner. (No fancy bindings or covers, please.) PLEASE NOTE: This checkpoint serves as a ―spot check‖ only. I will be looking at these analyses in a general way, making sure they are completed. So unlike prior checkpoints, I will not be providing detailed comments; however, I may make a few general suggestions. You must submit all five analyses to receive credit. If you turn in only four of five analyses, for example, you will receive no credit (i.e., a ―0‖) for the whole checkpoint. In other words, it’s ―all or nothing.‖ Checkpoint #5: Strategy formulation, implementation, and recommendations presentation. Here you are asked to (1) analyze the components of strategy formulation and strategy implementation, and determine how well the formulated strategy is actually implemented using the 7S analysis, (2) analyze the external and internal environment using a number of strategic analysis and synthesis tools, combining all of these using a SWOT analysis, (3) make recommendations concerning the firm’s future strategic direction using the TOWS matrix as your guide. As we arrive at this checkpoint, I will review a number of suggestions for presenting this material and provide detailed handouts of these suggestions. By the time you start putting your presentation together you must have completed the following required analyses: (1) strategic history, (2) strategic group, (3) five-forces, (4) macroenvironmental, (5) VRIO/core competence metaphor, (6) organizational culture, (7) organizational structure, (8) financial & ratio, (9) 7S, (10) brainstorming, and (11) SWOT/TOWS matrix. Five other analyses are optional and can be conducted for additional insight and extra credit: (1) competitor, (2) customer, (3) leadership, (4) value chain, and (5) balanced scorecard. Any corporate strategy recommendations must be consistent with the coverage of corporate-level strategy in this course. You will be required to present your findings to the class, and will have 20 minutes to do so. Please see the instructional note on oral presentations below for additional information. In addition, you are required to submit a spiral- or coil-bound hardcopy of your overheads immediately prior to your presentation. In the bound hardcopy, be sure to provide a list references. Please provide a professional quality cover page with the checkpoint number, the company’s name, your group number, the name of the course (MGMT 4970), the time of the course (i.e., 2:00), the semester of the course (i.e., Winter 2009), and group member names in alphabetical order. Checkpoint #6: Final report. Here you are asked to write a final report with six main parts: (1) a title page (a professional quality cover page with the checkpoint number, the company’s name, your group number, the name of the course [MGMT 4970], the time of the course [i.e., 2:00], the semester of the course [i.e., Winter 2009], and group member names in alphabetical order), (2) a table of contents, (3) a body (which is optional), (4) an appendix (which is the heart of your report) that contains all your exhibits (i.e., each and every analysis should be presented as an exhibit), (5) a list of references for all materials used to generate this report, and (6) copies of all reference materials used. Parts 1, 2, 3, 4 and 5 should be bound together as your main report. Part 6 should be bound
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separately. Your final report should end up being approximately 85-95 pages altogether, excluding copies of reference materials. (Note: This means that, for a group of seven people, each person on average would be responsible for contributing about 12 pages.) Please see the instructional note on written submissions below for additional information. 2. Quizzes Your performance will be assessed on ten quizzes to be given at the beginning of the class period. Please consult the course outline for quiz material and dates. No make-up quizzes will be given. However, you may drop your two lowest quiz scores. These quizzes are meant to: (1) encourage reading of the material, (2) promote class discussion, and (3) prepare you for the project as well as cases and small group exercises. 3. Peer Evaluation Adjustment In order to minimize the tendency of individuals to ―free ride‖ on the efforts of others in group projects and to penalize those who do, each student will evaluate the other members of his/her group. Please see the instructional note on peer evaluations for more details. The peer evaluation form can be found on the course web site. 4. Attendance Without attending class, it is impossible to participate in exercises, discussions, workshops, cases, etc., and get the full value of this capstone course. Given the importance of attendance to both your and your peers’ learning (and success) in this class: (1) If you have perfect attendance, you will have 2% added to your overall course grade (e.g., 88% (B+) 90% (A-)); (2) If you miss only one class session, you will have 1% added to your overall course grade; (3) If you miss two or three class sessions, there will be no increase nor decrease in your overall course grade; (4) If you miss four class sessions, you will have 1% subtracted from your overall course grade; (5) If you miss five class sessions, you will have an additional 2% subtracted from your overall course grade; (6) If you miss six or more class sessions, you will have an additional 3% subtracted from your course grade for each missed session over five—for example, if you miss six class sessions (i.e., fail to show up for a full 20% of the course), you will have 6% (1% for the fourth absence + 2% for the fifth absence + 3% for the sixth absence) subtracted from your overall course grade (e.g., 88% (B+) 82% (B-)). (Think about the example this way: How long would you remain employed if you didn’t show up for work one day a week (20%)?) Coming in just to take the quiz and then leaving will count as an absence. A pattern of arriving late, leaving early, and/or exiting-and-reentering the class while it’s in session will also count as an absence(s). Three such events constitutes a pattern. Your informing me of an absence and my acknowledging this does not constitute an excused absence. While there are no excused absences, MU does have special provisions if you are a member of a U.S. national guard or military reserve unit or the Federal Emergency Management Agency called to active duty while the University is in session. See me for details as soon as possible, should any of these apply. I will be keeping regular attendance records. It is your responsibility to sign the roster during each class session and to legibly print your full name on quizzes as evidence of your attendance. 5. Electronic Devices Your ability to carefully focus and actively participate in class discussions and exercises is crucial to your success in this course. Electronic devices – including, but not limited to, cellular phones, laptops, PDAs – have been found to direct students' attention away from the learning process. Therefore, before the beginning of each class you are required to turn off all cellular phones, laptops, and other electronic devices and store them someplace other than your work area. Unless otherwise noted by the professor (e.g., strategic workshop days, student accommodation through Disability Services), any student found using an electronic device in the classroom – no matter the length of time – will have 3% subtracted from their overall course grade for each occurrence. See me at the beginning of the term if you have any questions about this policy. VIII. Instructional Notes 1. Note on Oral Presentations A PowerPoint slide show is required in order to make the presentation more clear, interesting, and persuasive. I strongly recommend that you come prepared with a backup set of materials that can be displayed on the document camera. The presentation will be assessed by the instructor using an evaluation form that can be found on the
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course web site. I do not require that each and every member of the group be a presenter; however, all members should stand in front of the class in an orderly fashion during the presentation. I strongly encourage you to talk with me prior to your presentation; I will try to answer any questions you may have, reduce your uncertainty, and give you the best advice possible. It has been my experience that those who do not practice their presentations as a group prior to delivering them have substantial problems with time, persuasive logic, and consistency and flow between presenters—the moral: you really have to PRACTICE!!! You will need to give considerable thought to the structure of your presentation. To help you prepare, we will have several project workshops. To maximize the value of these workshops, you need to come as prepared as possible, having thought about the project, having documents in hand from your research efforts, and having talked with me informally. If you choose to use technologies not supported by our classroom setup, you are responsible for securing all the necessary hardware and software, and having it there on time. If you want me to assist you with such technologies, I ask that you come see me at least one week in advance of the presentation. Checkpoints will be presented on the dates indicated in the course outline below. If you miss the class period when your group’s presentation is due, then your group members will present without you. Any problems associated with a group member’s absence should be ―taken up‖ within the group (in advance of the presentation if at all possible). For example, if someone misses a presentation, the group may want to make changes in the previously agreed-upon division of labor or to reflect this lack of participation in a lower peer evaluation. 2. Note on Written Submissions Given the nature of this course, your written submissions will be held to the highest of standards. Quality of presentation, writing style, persuasive logic, substantiation and content will be assessed in grading. Please consult the course web site for details on the areas of assessment for the final report (Checkpoint #6). The final report should: (1) be within the five-page length requirement for the body, (2) be typewritten with a 12point font (however, exhibits may use a smaller font), (3) be in ―portrait‖ orientation, not ―landscape‖ for the body (however, landscape may be appropriate for some exhibits), (4) be double-spaced for the body (however, singlespacing for the exhibits is typically preferred), (5) have 1‖ margins all around (although exhibits with graphs and graphical elements may require tighter margins (e.g., 0.5‖ margins), (6) have page numbers for the body, (7) be ―coil‖ or ―spiral‖ bound with front and back covers. You are required to submit one copy (which I will keep). You’ll want to shop around for printing/binding to find the price/quality point you desire, as the range can be quite broad (e.g., Kinko’s, Brady Commons, Ellis Library Copy Center, Office Depot, Staples) and, in some cases, the price quite high. As noted above, the final report should have the following parts: (1) The cover page should be of professional quality and include the company’s name, the checkpoint number, your group number, the name of the course (i.e., MGMT 4970), the time of the course (i.e., 12:30, 2:00), the semester of the course (i.e., Fall 2008), and group member names in alphabetical order. (2) The final report should have a table of contents that uses categories to organize the various exhibits (see #4 below for examples of categories). (3) The body is optional. If you choose to do it, the body should have arguments that are succinct, clearly and professionally written, logically organized, and substantiated with evidence. It should be five pages maximum. In these five (or fewer) pages, you need to introduce the reader to the company and the ways in which you analyzed it. More specifically, begin by briefly introducing the company and delimiting the scope of your work in terms of strategic business unit(s) and strategic group(s) covered. Then, in a general way, take the reader through all the analyses you used in the project (see the list of a dozen required analyses and three optional analyses on page 5 of the syllabus). Be sure to organize this around main topics such as strategic history, external analyses, internal analyses, strategy formulation, strategy implementation, firm performance, strategic meta-analyses, creative strategic synthesis and/or strategic recommendations. The body of the report should do more than merely recite the analyses conducted; it should specifically demonstrate your knowledge of strategic management. Please note that you should not attempt to cover each analysis in fine-grained detail in the body of the report. For this detail, refer the
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reader to each and every exhibit in the appendix of the report using the notation (see Exhibit 10) or (see Exhibits 2, 3, 5 and 10), for example. If, after having done all of the above, you want to report the findings from your analyses, be sure to distill them to their essence. (4) The appendix is the heart of your report. It should present the detailed analyses that support the claims and arguments made in the body of the paper. Exhibits should be organized in an appendix using categories such as strategic history, external analyses, internal analyses, strategy formulation, strategy implementation, firm performance, strategic meta-analyses, creative strategic synthesis and/or strategic recommendations. Importantly, every analysis requires an exhibit. That is, you need a strategic history exhibit, a five-forces exhibit, a 7S exhibit, a TOWS matrix exhibit, a brainstorming exhibit, and so on. Every exhibit must be designated with some sort of numbering scheme. (5) The list of references should include all materials used to generate the report, and be specific enough that I can look them up and find them. Please be consistent in your referencing, whatever style guide you might choose (e.g., APA). (6) In addition, you are required to submit one copy (which I will keep) of your actual reference materials. Please bind this separate from your final report. Nothing fancy here. A three-ring binder will do. To improve the quality of your written work, assign multiple group members to a particular ―job‖ so that you build in appropriate ―checks and balances.‖ A focus on sentence structure, grammar, punctuation, paragraphs with a topic sentence and others that support it, organization of the paper including the use of headings/subheadings, and persuasive logic will keep the reader from getting bogged down and will improve your grade. 3. Note on Peer Evaluations Each group member will be required to complete a peer evaluation form for all group work associated with the capstone project. Individual grades will be adjusted to reflect these peer evaluations where appropriate. Some cases of free-riding can result in a substantial grade reduction. Please use the ―peer evaluation form‖ available on the course web site. Every student is required to turn in a peer evaluation. Turning it in late or not at all will negatively affect your overall course grade by 3% (e.g., 90% 87%) if 0.2-24 hours late, 6% (e.g., 90% 84%) if 24-48 hours late, and 9% (e.g., 90% 81%) if over 48 hours late. In order that every member of the group understands the standard to which the group will hold them, I ask as a group that you thoughtfully come to a consensus and render these standards explicit in a document of understanding (DOU). Type it up, have each group member sign it, and submit this document to me in class on the dates shown in the course outline. Each group member should keep a copy for his/her records. I have examples of DOUs from prior groups that you are welcome to review. Consider, for example, these factors in your discussion and drafting of the DOU: Did they contribute to the group process? (1) On time for all group meetings, stayed for the duration of the meeting, and was really ―into‖ it. (2) Coordinated his/her schedule with the group so meetings were easy to schedule. (3) Met the task deadlines that were set up by the group. (4) Respected other group members’ time by coming fully prepared for all group meetings. (5) Kept the group organized, cohesive, and progressing toward the completion of group goals. (6) Maintained a constructive, positive attitude throughout the project. Did they contribute to the group product? (1) Contributed useful ideas and suggestions. (2) Contributed creative ideas that forced new insights. (3) Strong contributor in the development and/or delivery of the group’s presentation. (4) Strong contributor in the development of the group’s report. (5) Skill in carrying out his/her special role (computer graphics, research, presentations, etc.). (6) Overall quantity of work on the project. (7) Overall quality of work on the project. IX. Academic Dishonesty Any form of academic dishonesty, such as plagiarism of written work or verbal presentations and cheating on quizzes will be immediately referred to the Assistant Provost for disposition according to University policies. Disciplinary actions can include suspension or expulsion. Please see the University’s policies regarding Academic Honesty in the MU Catalog and in the M-book. Bottom line: ―don’t cheat‖!!
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X. Americans with Disabilities Act If you need accommodations because of a disability, if you have emergency medical information to share with me, or if you need special arrangements in case the building must be evacuated, please inform me immediately. Please see me privately after class, or at my office. (Please see page 1 or the course website for my office location and hours.) To request academic accommodations (e.g., a note taker), students must also register with the Office of Disability Services, (http://disabilityservices.missouri.edu), S5 Memorial Union, 882-4696. It is the campus office responsible for reviewing documentation provided by students requesting academic accommodations, and for accommodations planning in cooperation with students and instructors, as needed and consistent with course requirements. For other MU resources for students with disabilities, click on ―Disability Resources‖ on the MU homepage.
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XII. Course Outline Mon Wed
Jan 19 Jan 21
MLK Jr. Holiday Introduction and Organizing for Group Projects
No class – Have a great MLK Day! Activity: Course Overview Activity: What is Strategy? Activity: Initial Group Formation & Company Identification Due: Hand in a sheet of paper with your class time, group number, company(ies) you are considering, and names of all group members.
Mon
Jan 26
Organizing for Group Projects, and Searching for Company and Industry Information
Activity: Finalize Group Formation & Semi-finalize Company Identification Activity: Introduction to Library Resources by Business Reference Librarian Gwen Gray Due: Update the sheet you handed in last time, as needed. Due: Student profiles with photo attached
Wed
Jan 28
Conceptual Foundations of Strategic Management: The Multi-faceted Concept of Strategy; Honda’s Expansion into the U. S. Motorcycle Market (Case Study)
Read: ―Five Ps for Strategy‖ (Mintzberg) Read: ―The Honda Effect‖ (Pascale) Quiz: Quiz 1
Mon
Feb 02
Conceptual Foundations of Strategic Management: A Systems Perspective of Strategy
Read: ―The 7S Framework‖ (Waterman, et al.) Quiz: Quiz 2
Wed
Feb 04
Strategy Workshop
Activity: Come prepared to work in groups on the details of your strategic histories. Read: ―First-Mover Advantages‖ (Miller & Dess/Lieberman & Montgomery)
Mon
Feb 09
External Environment: Strategic Group and FiveForces Analyses
Read: ―Strategic Groups within Industries‖ (Hill & Jones) Read: ―How Competitive Forces Shape Strategy‖ (Porter) Quiz: Quiz 3
Wed
Feb 11
External Environment: Five-Forces Analysis
Read: ―How Competitive Forces Shape Strategy‖ (Porter) Due: Instructor’s final approval of company for project. Due: DOU typed and signed by all group members
Mon
Feb 16
External Environment: Macroenvironmental Analysis
Read: ―The Role of the Macroenvironment‖ (Hill & Jones) Read: ―'E-mail Has Become the New Snail Mail' as Younger Set Goes with Text Messaging‖ (USA Today) Read: ―To Lure Older Girls, Mattel Brings in a Hip-Hop…‖ (WSJ) Read: ―In Lean Times, Big Companies Make a Grab…‖ (WSJ) Quiz: Quiz 4
Wed
Feb 18
Strategy Formulation: Strategy as Plan: Vision, Mission, Purpose, Goals
Read: ―Developing a Vision and Strategy‖ (Kotter) Read: ―Strategic Intent‖ (Hamel & Prahalad) Quiz: Quiz 5
Mon
Feb 23
Strategic History: Presentations
Due: Checkpoint #1 (Groups 1, 2 and 3 present your strategic history.) Due: Hand in bound copy of slides with reference list.
11 Wed
Feb 25
Strategic History: Presentations
Due: Checkpoint #1 (Groups 4, 5 and 6 present your strategic history.) Due: Hand in bound copy of slides with reference list.
Mon
Mar 02
Strategy Workshop
Activity: Come prepared to work in groups on the details of your strategic group and five-forces analyses. Due: If your group wishes to update your DOU for any learning that occurred during the first checkpoint, you may turn in the updated version today. If you have no changes, then you don’t need to do anything.
Wed
Mar 04
Strategy Formulation: Strategy as Position: Porter’s Strategy Typology (BusinessLevel Strategy)
Read: ―Choosing a Generic Competitive Strategy at the Business Level‖ (Hill & Jones) Read: ―Mass Customization‖ (Fortune) Quiz: Quiz 6
Mon
Mar 09
Strategy Formulation: Strategy as Position: Business Strategy at Wal-Mart and KMart (Case Study)
Read: ―Loss Leader‖ (WSJ) Read: ―Upward Mobility‖ (WSJ) Quiz: Quiz 7
Wed
Mar 11
Strategy Implementation: VRIO/Core Competence Analyses
Read: ―Looking Inside for Competitive Advantage‖ (Barney) Quiz: Quiz 8
Mon
Mar 16
Strategy Implementation: Organizational Culture and Leadership Analyses
Read: ―Organizational Culture and Leadership‖ (Dess & Miller) Read: ―Building a Strategy-Supportive Corporate Culture‖ (Thompson & Strickland) Read: ―Father, Son and Gum‖ (WSJ) Read: ―How Apple Does It‖ (Time) Quiz: Quiz 9
Wed
Mar 18
Strategy Implementation: Organizational Structure Analysis
Read: ―Mechanistic and Organic Organizational Structures‖ (Jones) Read: ―Business-Level Strategy and Structure‖ (Jones) Read: ―Implementing Strategy: Creating Effective Organizational Designs‖ (Dess & Lumpkin) Quiz: Quiz 10 Due: Checkpoint #2 (Hand in your strategic group and five-forces analyses.)
Mon
Mar 23
Spring Break!
No classes – Have a great Spring Break!
Wed
Mar 25
Spring Break!
No classes – Have a great Spring Break!
Mon
Mar 30
Strategy Implementation: Value-Chain Analysis
Read: ―Value Chain Analysis‖ (Pearce & Robinson)
Wed
Apr 01
Firm Performance: Financial & Ratio Analysis, and the Balanced Scorecard
Read: ―Financial Analysis‖ (Dess & Miller) Read: ―Understanding and Analyzing Financial Statements‖ (Dess & Miller) Read: ―The Balanced Scorecard‖ (Daft)
12 Mon
Apr 06
Strategic Meta-Analyses, Creative Strategic Synthesis, and Strategic Recommendations: 7S Framework, SWOT Analysis/TOWS Matrix, and Brainstorming
Read: ―The 7S Framework‖ (Waterman, et al.) Read: ―Strengths, Weaknesses, Opportunities and Threats‖ (De Kluyver) Read: ―The TOWS Matrix‖ (David) Read: ―Brainstorming Works Best if People Scramble for Ideas on Their Own‖ (WSJ)
Wed
Apr 08
Strategy Workshop
Workshop: Teams work on their projects in class Due: Checkpoint #3 (Hand in your VRIO/core competence and organizational culture analyses.)
Mon
Apr 13
Additional Topics and Analyses: Corporate Strategy Recommendations, and Competitor and Customer Analyses
Read: ―Corporate Diversification Strategies‖ (Thompson & Strickland) Read: ―The Myth of Synergy‖ (MBA Jungle) Read: ―After Years of Pushing Synergy, Time Warner Inc. Says Enough‖ (WSJ) Read: ―Competitor Analysis‖ (De Kluyver) Read: ―What Strategic Moves Are Rivals Likely to Make Next?‖ (Thompson & Strickland) Read: ―Niche Competitors Crowd into MySpace‖ (USA Today) Read: ―The MySpace Invaders‖ (USA Today)
Wed
Apr 15
Strategy Workshop
Workshop: Teams work on their projects in class
Mon
Apr 20
Strategy Workshop
Workshop: Teams work on their projects in class
Wed
Apr 22
Strategy Workshop
Workshop: Teams work on their projects in class
Mon
Apr 27
Strategy Workshop
Workshop: Teams work on their projects in class Due: Checkpoint #4 (Hand in your macroenvironmental, organizational structure, 7S, financial and ratio, and brainstorming analyses for a ―spot check.‖)
Wed
Apr 29
Course Summary and Strategy Workshop
Summary: I will summarize the major themes of the course, attempting to ―put it all together.‖ Workshop: Teams work on their projects in class
Mon
May 04
Strategy Formulation & Implementation, and Strategic Recommendations: Presentations
Due: Checkpoint #5—Presentations by Groups 6, 5, and 4 Due: Hand in bound copy of slides with reference list.
Wed
May 06
Strategy Formulation & Implementation, and Strategic Recommendations: Presentations and Final Report
Due: Checkpoint #5—Presentations by Groups 3, 2, and 1 Due: Hand in bound copy of slides with reference list. Due: Checkpoint #6—All groups hand in bound copy of final report with reference list plus separately bound reference materials. Due: Peer Evaluation Form.
Note: The instructor reserves the right to amend or re-schedule the course outline as deemed necessary.
13
Student Profile MGMT 4970 – WS 2009 Please place recent photo here. Name: ___________________________________________ Major(s): ________________________________________ Student #: _______________________________________ Phone Number: ___________________________________ MU E-mail Address: ________________________________ Home city/state (e.g., Kirkwood, MO) or city/country (e.g., Tokyo, Japan) ______________________ Purpose: Please submit this form, along with a recent photo, no later than Monday, January 26th. Please provide a photo that looks like you currently look. If you don’t have a picture, take a picture id, set the copier to light, zoom it up, and make a photocopy. Please affix your picture with tape or staples.
Employment Experience (If working this term, how many hrs/wk?):____________________________ __________________________________________________________________________________ __________________________________________________________________________________ What do you hope to do after graduation? ________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ Personal interests: ___________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ Any special objectives or expectations for this course? ______________________________________ __________________________________________________________________________________ __________________________________________________________________________________