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Strategic Management4 CreditsBU.151.790.XX[NOTE: Each section must have a separate syllabus.][Day & Time / ex: Monday, 6pm-9pm][Start & End Dates / ex: 3/24/15-5/12/15][Semester / ex: Fall 2016][Location / ex: Washington, DC]Instructor[Full Name]Contact Information[Email Address][Phone Number, (###) ###-#### (Optional)]Office Hours[Please specify the day and time of the 2 hours that will be dedicated to office hours each week. For evening classes, faculty may wish to hold their office hours by phone or email. While faculty are permitted to state “and by appointment,” office hours should not be held exclusively by appointment.]Required Text(s) & Learning MaterialsHill, C.W.L., and G. Jones, 2009, Essentials of Strategic Management, 3rd Edition, Cengage Business Higher Education, ISBN 9781111525194 Instructors collaborate with Reserves staff to make eligible readings available through the E-Reserves link in the Blackboard course site. Typically these readings become accessible at the start of the course.Jay Barney, 1995, Looking inside for competitive advantage? Academy of Management Executive, 9:4, 49-61Ron Adner and Daniel Levinthal, 2002, The emergence of emerging technology, California Management Review, 45:1, 50-66David B. Yoffie and Michael A. Cusumano, 1999, Judo Strategy: The Competitive Dynamics of Internet Time, Harvard Business Review, Jan-Feb, 71-81Kathleen Eisenhardt and Donald Sull, 2001, Strategy as Simple Rules, Harvard Business Review, Jan-Feb, 2-11David A. Soberman, 2003, The Role of Differentiation in Markets Driven by Advertising, California Management Review, 45(3), 1-17Michael Dell and Joan Magretta, 1998, The Power of Virtual Integration, Harvard Business Review, Mar-Apr, 73-84David Harding and Sam Rovit, 2004, Building Deals on Bedrock, Harvard Business Review, Sep-Oct, 1-8Clayton M. Christensen, Michael E. Raynor, and Matthew C. Verlinden, 2001, Skate to Where the Money Will Be, Harvard Business Review, Nov-Dec, 74-81Richard Normann and Rafael Ramirez, 1993, From Value Chain to Value Constellation, Harvard Business Review James Bamford, David Ernst, and David G. Fubini, 2004, Launching a World-Class Joint Venture, Harvard Business ReviewGeorge Baker, 1992. “Beatrice: A Study in the Creation and Destruction of Value.” Journal of Finance 47: 1081-1119.Jay Dial and Kevin J. Murphy, “Incentives, Downsizing, and Value Creation at General Dynamics,” Journal of Financial Economics, Vol. 37(3) (March 1995): 261-314.Jean-Francois Hennart, 1993. "Explaining the 'Swollen Middle': Why Most Transactions are a Mix of Market and Hierarchy," Organization Science, vol. 4, no. 4, 529-547.Course Description & OverviewThis course is concerned with the formulation and analysis of business strategy. Business strategy is the set of objectives and policies that collectively determine how a business creates economic value for its owners and stakeholders. Strategy is concerned with answering two central questions: "What businesses should we participate in?" and "How should we compete?" Students will learn analytical techniques for diagnosing the competitive position of a business, evaluating business strategies, and identifying and analyzing specific business options.Students integrate and apply previous course work to strategic management problems. Analytic, integrative, and decision-making skills are developed through case discussions using team presentations. This course requires the student to assume the role of a general manager. General Managers have to cope with tremendous complexity, uncertainty, and inadequate information. The focus throughout is on strategic management—the process of choosing and defining purposes and objectives, formulating and implementing a viable strategy, and monitoring strategic performance. The course is predicated on the thesis that the role of the policy course in the business school curriculum is to develop an ability to see the enterprise as a whole and to understand how and why the various functions of the business are interdependent and need to be coordinated. Hence, the thrust of the course is the organization in its totality—the environment in which it operates, and its internal administrative activities. The emphasis is on the kinds of problems and issues that affect the success of the entire organization. A serious attempt is made to elaborate on the general applicability of the strategy-policy disciplines to all sizes and types of organizations, although the major emphasis will focus on profit-oriented enterprises operating in a competitive environment. An important requirement of a general manager's job is the ability to think in a cross-functional and holistic manner. Very often, decisions that are optimal for an individual business unit or department are not in the best interests of the whole firm. Creativity and innovation are critical to achieve success; as to follow often-traveled strategic paths is unlikely to result in a superior performance. Creativity can be exercised in both analysis as well as implementation. The orientation is consistently pragmatic and managerial. By use of the case method and the consulting project, students are placed in managerial roles where they can apply the concept of strategy in characteristically management situations.Prerequisite(s)BU.120.601 AND BU.131.601 AND BU.232.701 AND BU.680.620Completion of 46 Credits.Learning ObjectivesBy the end of this course, students will: Size up, quickly and accurately, complex and unstructured situations by identifying the core problems and issues.Analyze quantitative and descriptive data to identify strategies that are appropriate to each situation; evaluate alternatives; and recommend specific courses of action for creative solutions to problems/issues.Link theory and practice, and develop an understanding of when and how to use what "tools" in particular problem-solving situations.Sharpen analytical skills acquired in functional areas.Learn about strategy concepts, synthesized and integrated, in a pragmatic context.Present recommendations in a concise, framework-driven, and convincing manner with the appropriate research and arguments.To view the complete list of Carey Business School’s general learning goals and objectives, visit the Carey website.Attendance Attendance and participation are part of your course grade. Participants are expected to attend all scheduled class sessions. Each class will include opportunities for teams to work together. Failure to attend class will result in an inability to achieve the objectives of the course. Excessive absence will result in loss of points for team participation. Full attendance and active participation are required for you to succeed in this course. Assignments & RubricsIndividual contributions to learningStudents are expected to have read the cases before attending class. Students are expected to take a proactive stance with respect to class contributions. While the instructor may sometimes use cold calling, students should not expect this to be sufficient for opportunities to make substantive contributions. Discussions are to be directed to the class rather than the instructor.Students will be evaluated after each class on their contributions to discussions. Contributions are defined as: observations that advance the discussion or change the direction of the class discussion, insightful commentaries that raise learning points, probing questions that challenge the extant discussion and yield new directions, and analyses that clarify and amplify case facts. Class attendance is a pre-requisite for class contribution; therefore, students will earn a 0 on days they do not attend class. A minimal grade is assigned for attendance without active participation. Class contribution will be graded 0-5 according to the following subjective criteria: 5 = able to answer or ask questions with good examples from the readings and makes several excellent points that reveals deep thought about the issue(s), and understanding of the readings and cases. Raises the level of discourse. This score is rare.4 = raises a number of good points from the cases and readings, less inspired than a 5, but reveals a clear understanding of the material, with the ability to apply it.3 = raises one or two good points, and shows a rudimentary grasp of the readings and cases. Essentially, attempts to draw some linkage with the concepts used in the class.2 = makes one or two points but does not attempt to apply what is learned in the readings or lectures, i.e., superficial common sense-type answers to questions that required more insight.1 = shows up for class but does not participate0 = did not attend classIndividual case analysisYou are required to submit a 5-page individual write-up on one of the cases. You may submit cases for practice but must decide which case you wish to have graded, before handing in the case. There are no resubmissions once a case has been graded. Please hand in before class meets on the day the case is discussed. Late submissions will not be graded or commented upon. The case write-up should provide an analysis of the critical issues with recommendations. Summaries (no analyses or recommendations) will not earn a passing grade. Format should be a maximum of 5 pages, double-spaced, 12 point Times New Roman font, with 1” margins around. Merely answering the questions will not be sufficient for a complete answer. Every case has one or several decision points. Identify the decision point(s), state the criteria you will use to make the decision(s), present a cogent analysis of the facts and state your position on the decision point(s). Do not introduce facts from outside of the cases as this will cause confusion in your analyses.Strategy consulting projectThe most effective way to accomplish this course's objectives is through a consulting project for a live client. Class will be divided into study teams. The instructor will assign students to the teams and determine their size. Teams are expected to meet outside class hours to conduct research for the consulting project, write the report, and discuss the case assignments for the following week. The project is divided into 3 phases. In the first phase, teams are to present the business models of their client companies, a comparison of the client’s operating model with industry standard ratios, where appropriate, the value chain, and where in the chain their clients add or destroy value.In the second phase, teams are required to present their industry analyses. This contains the group's assessment of the current state and predictions about future developments in the industry that will have an impact on the company. This will include, but is not limited to the Porter’s 5-forces model, a competitor analysis, and an analysis of the market for the client’s products or services. In the final phase, students are asked to make recommendations on the way forward on the client’s objectives for the business. The recommendations will include a risk analysis of the options, an implementation plan, and a financial model (where appropriate). The clients will be invited to this presentation. These presentations should be designed as briefings to the company’s CEO.Teams are asked to agree to make a separate presentation to the client in case the client cannot attend the last meeting of the class or the client wishes more in-depth discussion that requires confidential information to be shared. The final report should be formatted in the following way: 1” margins, double-spaced, Times New Roman font, with appropriate citations for the use of data and analyses from secondary research. The contents of the report are as follows:Executive summaryAnalysis of the current business modelAnalysis of the industryRecommendationsAppendicesThe consulting report is due on the last day of class. Assessment Rubric for Case Analyses and Consulting ReportThe scale is 1 to 5 (with 1 being poor): Analysis (70%): Does the paper contain analyses of the major issues?Does the analysis properly incorporate the relevant tools?Does the analysis show the relationships among important factors in the situation?Are assumptions made in the analysis stated explicitly?Does the analysis isolate the fundamental causes of problems in the case?Recommended Actions (30%):Are the criteria for selecting recommendations stated?Is the plan of action integrated in a logical way and linked to the analysis?Does the action plan recognize the importance of timing (short-term and long-term)?Is the action plan specific and complete?Is the action plan practical (i.e., something that can be done reasonably)?A word about teaming Recognize the dynamics of group interaction and accept the fact that they can lead to frustration and conflict. These situations are no different from what you will certainly encounter operating in any organizational environment. This course can be an excellent opportunity for experiential learning on managing group situations and acquiring some of the most critical managerial skills. Throughout your career, managing such situations by applying strong interpersonal skills, developing an ability to resolve conflict and working out compromises will determine if the next promotion will come to you or the person in the next cubicle.Evaluation and GradingEach component of the class requirement will be graded according to the following distribution:AssignmentCourse Learning ObjectivesWeightAttendance and class contributions to learning1, 2, 3, 520%Individual case analysis1, 2, 3, 520%Strategy consulting project (adjusted by a peer evaluation at the end of the semester)3, 4, 5, 660%Total100%GradingThe grade of A is reserved for those who demonstrate extraordinarily excellent performance. The grade of A- is awarded only for excellent performance. The grade for good performance in this course is a B+/B. The grades of D+, D, and D- are not awarded at the graduate level. Please refer to the Carey Business School’s Student Handbook for grade appeal information. Tentative Course CalendarThe instructor reserves the right to alter course content or adjust the pace to accommodate class progress. We will adopt the latest edition of the textbook, so the chapter information might not be exactly the same. The classroom instructors will make the adjustment to match the original reading assignments.WkTopicReadingsClass DiscussionHomework Due1IntroductionWhat is the Firm? Strategy? Mission Statements? Strategic Thinking vs. Strategic PlanningLogistics, team formation, and assignment of consulting projectDiscussion of class requirements and performance standards.Chapter 1 of Hill & Jones.Sign and submit Non-Disclosure Form.2Internal Analysis IValue Chain and Components of Business Models. Garth Saloner, Andrea Shepard, and Joel Podolny, 2001, Creating and Capturing Value in the Value Chain, in Strategic Management, John Wiley and Sons.Richard Hamermesh, Paul Marshall and Taz Pirmohamed, 2002, Note on Business Model Analysis for the Entrepreneur, HBS Publishing.Sign and submit Non-Disclosure Form.Submit consulting terms of engagement to instructor for review. (If requested by the client)3Internal Analysis IIResource Based View, Strategic Commitment and Competitive Advantage CaseGoogle’s Mission, Ethical Principles, and Involvement in China. P 52-53.Chapter 4 of Hill & Jones.Jay Barney, 1995, Looking inside for competitive advantage? Academy of Management Executive, 9:4, pp 49-61.Case Discussion in Class:Answer questions at end of case and analyze.4Internal Analysis IIIOrganization Design and StructurePresentationPhase 1 report. Each team has 10 minutes + 5 minutes of Q&AChapter 9 of Hill & Jones.Submit Phase 1 reportAnalysis of the client’s value chain and business model. What creates or destroys value? Opportunities for efficiency gains.5Macroenvironment AnalysisRegulatory and Technological Change as Drivers of Strategic Options. Mini CaseThe Pharmaceutical Industry. P 79-80.Chapter 3 of Hill & Jones (pages 73-77).Ron Adner and Daniel Levinthal, 2002, The emergence of emerging technology, California Management Review, 45:1, P 50-66.Case Discussion in Class:Answer questions at end of case and analyze.6Industry Analysis IIntroduction to the ‘5-forces model’. Dynamic situations and limitations. Chapter 3 of Hill & Jones (pages 58-73).7Industry Analysis IIRivalry and Substitutes: Analyzing Competitors. Theory of Games. Mini CaseIKEA-The Global Retailer. P 169-170.Peter J. Coughlan, Debbie Freier, and Patrick Kaiho Lee, 2001, Competitor Analysis: Anticipating Competitive Actions, HBS Publishing.Case Discussion in Class:Answer questions at end of case and analyze.8Industry Analysis IIIThreat of Entry: Entry by Weak Competitors: Judo Strategy. Incumbent Response. Market Entry Games. Mini CaseUnited Technologies Has an ACE in Its Pocket. P 197-198.David B. Yoffie and Michael A. Cusumano, 1999, Judo Strategy: The Competitive Dynamics of Internet Time, Harvard Business Review.Case Discussion in Class:Answer questions at end of case and analyze.9Industry Analysis IVSummaryPresentationPhase 2 report. Each team has 10 minutes + 5 minutes of Q&A.Submit Phase 2 reportAssessment of the current state and predictions about future developments in the industry that will impact the company. Includes Porter’s 5-forces model, competitor analysis, and an analysis of the market for the client’s products or services.10Business Strategy ICost Leadership Strategy: Systems Interdependencies. Path Dependencies. Preemption to Imitation.Mini CaseNike’s Business-Level Strategies. P 142-143.Chapter 5 of Hill & Jones. Kathleen Eisenhardt and Donald Sull, 2001, Strategy as Simple Rules, Harvard Business Review.Case Discussion in Class:Answer questions at end of case and analyze.11Business Strategy IIDifferentiation Strategy: Distinctive Competencies.Chapter 5 of Hill & Jones.David A. Soberman, 2003, The Role of Differentiation in Markets Driven by Advertising, California Management Review.Dial, Jay and Kevin J. Murphy, “Incentives, Downsizing, and Value Creation at General Dynamics,” Journal of Financial Economics.Case Discussion in Class:Answer questions at end of case and analyze.12Corporate Strategy IGrowth Through Diversification: Portfolio and Real Options Approaches. Mini CaseStrategy Implementation at Dell Computer.P 258-259.David Harding and Sam Rovit, 2004, Building Deals on Bedrock, Harvard Business Review.Clayton M. Christensen, Michael E. Raynor, and Matthew C. Verlinden, 2001, Skate to Where the Money Will Be, Harvard Business Review.Discussion of Phase 1 and Phase 2 reports with recommendations for generating strategic options.13Corporate Strategy IICooperative Strategy and Alliances. HBS CaseXerox and Fuji-Xerox, HBS Publishing.Mini CaseOracle’s Growing Portfolio of Businesses. P 223-224.Richard Normann and Rafael Ramirez, 1993, From Value Chain to Value Constellation, Harvard Business Review.James Bamford, David Ernst, and David G. Fubini, 2004, Launching a World-Class Joint Venture, Harvard Business Review.George Baker, 1992. “Beatrice: A Study in the Creation and Destruction of Value.” Journal of Finance.Case Preparation Questions:1. What role has Fuji Xerox played in Xerox’s Global Strategy? How do you expect this role to change in the future?2. Is Fuji Xerox a successful joint venture in 1990? How do you measure its performance?3. What were the key success factors in these alliances in the past? Do you expect these factors to change in the future?4. Consider the different options for reorganization listed in Exhibit 11. Select one option in each functional area and be prepared to explain why you prefer it over the others.14Corporate Strategy ISecuring Competitive Advantage Through Vertical Integration.HBS Case The HP-Cisco Alliance (A), HBS Publishing.Chapter 7 of Hill & Jones.David J. Collis, 1995, The Scope of the Corporation; HBS Publishing.Michael Dell and Joan Magretta, 1998, The Power of Virtual Integration, Harvard Business Review.Jean-Francois Hennart, 1993. "Explaining the 'Swollen Middle': Why Most Transactions are a Mix of Market and Hierarchy," Organization Science.Case Preparation Questions:1. What are the challenges facing Jim Heal and Mike Thomas? 2. What are Heal’s and Thomas’s bases of power? What influence tactics are available to them?3. If you were appointed to an alliance manager position at HP or Cisco, what would your action plan be? How would you prioritize your actions? 4. If you were Steinhilber or Russell, what kinds of structural interventions would you pursue to enable your alliance organization to function effectively?15Final Presentation. Each team has 15 minutes + 6 minutes of Q&ASponsors invited to attend and comment.Submit Final Consulting Report.Submit Peer Evaluation for Consulting Project.Carey Business SchoolPolicies and General InformationBlackboard SiteA Blackboard course site is set up for this course. Each student is expected to check the site throughout the semester as Blackboard will be the primary venue for outside classroom communications between the instructors and the students. Students can access the course site at . Support for Blackboard is available at 1-866-669-6138.Course EvaluationAs a research and learning community, the Carey Business School is committed to continuous improvement. The faculty strongly encourages students to provide complete and honest feedback for this course. Please take this activity seriously; we depend on your feedback to help us improve. Information on how to complete the evaluation will be provided toward the end of the course.Disability ServicesAll students with disabilities who require accommodations for this course should contact Disability Services (carey.disability@jhu.edu or 410-234-9243) at their earliest convenience to discuss their specific needs. If you have a documented disability, you must be registered with Disability Services to receive accommodations.?Please note that accommodations are not retroactive.?Therefore it is strongly encouraged that you identify your needs to Disability Services as early as possible.Honor Code/Code of ConductThe Carey community believes that honesty, integrity, and community responsibility are qualities inherent in an exemplary citizen. The objective of the Carey Business School Honor Code is to create an environment of trust among all members of the academic community while the qualities associated with success are developed in students. All students are expected to view the Carey Business School Honor Code/Code of Conduct tutorial and submit their pledge online.?Please contact the student services office at carey.students@jhu.edu if you have any questions.Students are not allowed to use any electronic devices during in-class tests. Calculators will be provided if the instructor requires them for test taking. Students must seek permission from the instructor to leave the classroom during an in-class test. Test scripts must not be removed from the classroom during the test.Student Success CenterThe Student Success Center offers free online and in-person one-on-one and group coaching in writing, presenting, and quantitative courses. The center also offers a variety of workshops and exam study sessions, and provides a list of self-guided resources. Most of the tutors are current Carey students. For more information or to book an appointment, please visit the Student Success Center website. Other Important Academic Policies and ServicesStudents are strongly encouraged to consult the Carey Business School’s Student Handbook and Academic Catalog and Student Resources for information regarding the following items:Statement of Diversity and InclusionInclement Weather PolicyCopyright StatementUnless explicitly allowed by the instructor, course materials, class discussions, and examinations are created for and expected to be used by class participants only.?The recording and rebroadcasting of such material, by any means, is forbidden. Violations are subject to sanctions under the Honor Code. ................
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