This module is concerned with how managers develop ...



ABM 3201 BUSINESS STRATEGY2. INSTRUCTOR(s):George Omiat (BSc Agric, MUK; MSc, Agric Econ, MUK) (Assistant Lecturer).3. COURSE TYPE and location:B. Agribusiness Management (III); Faculty of Agriculture; Department of Agricultural Economics and Abgribusiness4. COURSE STRUCTURE3 Credit units: 30 lecture hours (2 contact hour per week for 15 study weeks) and 30 Practical/Tutorial hours (2 contact hour per week for 15 study weeks)5. COURSE DESCRIPTION:Business strategy. Strategic business unit. Strategy development and implementation. Generic strategies: differentiation, focus, low cost, pre-emptive move. Growth strategies: market penetration, market development, product development, diversification and vertical integration. Declining markets/mature market strategies: milk/harvest, hold, divestment/liquidation. Global strategies: motivations, standardization versus customisation, strategic alliances.6. COURSE OBJECTIVES:General ObjectiveThis module is concerned with how managers develop business strategy under conditions of uncertainty. Business strategy, its development, formulation and implementation are key issues for firms in the development of sustainable competitive advantage.Specific ObjectiveTo introduce students to a wide range of strategic issues faced by modern business organizations To introduce students to the theories, techniques and tools used by managers to formulate, implement and evaluate strategies designed to establish and maintain competitive advantage7. RECOMMENDED REFERENCES FOR READINGRichard M.S Wilson Collin Gilligan Strategic Marketing Management. Planning Implementation and ControlJohnson, G, & Scholes, K, (2005), Exploring Corporate Strategy: text and cases, (7th ed Prentice Hall), ISBN 0 273 678344, Library Reference 658.16 J67Besanko, D; Dranove, D; Shanley, M and Schefer S, Economics of Strategy, (3rd ed Wiley & Sons),ISBN 0471-21213XPorter M (1998), The Competitive Advantage of Nations, (MacMillan), ISBN 0333-736427, LibraryReference 338.018 5P 8478. COURSE CONTENT, METHODS OF INSTRUCTION AND TOOLS AND REQUIREDTOPICCONTENTMETHOD OF INSTRUCTION / Time allocatedTOOLS/ NEEDED1.What Is Strategy and Why Is It Important?What Is Strategy?Identifying a Company’s StrategyStrategy and the Quest for Competitive AdvantageStrategy Is Partly Proactive and Partly ReactiveTutorial: How to identify a company’s strategyLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer2. What Is Strategy and Why Is It Important? Cont’dStrategy and Ethics: Passing the Test of Moral ScrutinyThe Relationship Between a Company’s Strategy and Its Business ModelWhat Makes a Strategy a Winner?Why Are Crafting and Executing Strategy Important?Tutorial: Relating a company’s strategy to the business modelLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer3.Analyzing a Company’s External EnvironmentThe Strategically Relevant Components of a Company’s External EnvironmentThinking Strategically About a Company’s Industry and Competitive EnvironmentWhat are the Industry’s Dominant Economic Features?What Kinds of Competitive Forces are Industry Members Facing?The Rivalry Among Competing SellersThe Potential Entry of New CompetitorsTutorial: How to analyze the company’s external environmentLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer4.Analyzing a Company’s External Environment cont’dCompetitive Pressures from the Sellers of Substitute ProductsCompetitive Pressures Stemming from Supplier Bargaining Power and Supplier-Seller CollaborationCompetitive Pressures Stemming from Buyer Bargaining Power and Seller-Buyer CollaborationDetermining Whether the Collective Strength of the Five Competitive Forces is Conducive to Good ProfitabilityWhat Factors are Driving Industry Change and What Impacts Will They Have?Tutorial: Examining the strengths of the Five competitive forcesLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer5.The Five Generic Competitive StrategiesFive Competitive Strategies Low-Cost Provider StrategiesThe Two Major Avenues for Achieving a Cost AdvantageThe Keys to Success in Achieving Low-Cost LeadershipWhen a Low-Cost Provider Strategy Works BestThe Pitfalls of a Low-Cost Provider StrategyTutorial: Low Cost Provider strategiesLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer6. The Five Generic Competitive Strategies Cont’dDifferentiation StrategiesTypes of Differentiation ThemesWhere along the Value Chain to Create the Differentiating AttributesAchieving a Differentiation-Based Competitive AdvantageThe Importance of Perceived ValueKeeping the Cost of Differentiation in LineWhen a Differentiation Strategy Works BestThe Pitfalls of a Differentiation StrategyBest-Cost Provider StrategiesThe Big Risk of a Best-Cost Provider StrategyTutorial: Differentiation strategiesLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer7. The Five Generic Competitive Strategies Cont’dFocused (or Market Niche) StrategiesA Focused Low-Cost StrategyA Focused Differentiation StrategyWhen A Focused Low-Cost or Focused Differentiation Strategy is AttractiveThe Risks of a Focused Low-Cost or Focused Differentiation StrategyThe Contrasting Features of the Five Generic Competitive StrategiesTutorial: Focused/niche strategiesLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer8. Beyond Competitive Strategy Other Important Strategy ChoicesStrategic Alliances and Collaborative PartnershipsThe Pervasive Use of AlliancesWhy and How Strategic Alliances are AdvantageousAlliances and Partnerships with Foreign CompaniesWhy Many Alliances are Unstable or Break ApartThe Strategic Dangers of Relying Heavily on Alliances and Collaborative PartnershipsMerger and Acquisition StrategiesVertical Integration Strategies: Operating Across More Stages of the Industry Value ChainThe Strategic Advantages of Vertical IntegrationThe Strategic Disadvantages of Vertical IntegrationOutsourcing Strategies: Narrowing the Boundaries of the BusinessAdvantages of OutsourcingThe Pitfalls of OutsourcingTutorial: Strategic Alliances and Collaborative Partnerships; Merger and Acquisition Strategies; Vertical Integration Strategies and Outsourcing Strategies Lecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer9. Beyond Competitive Strategy Other Important Strategy ChoicesUsing Offensive Strategies to Secure Competitive AdvantageBasic Types of Offensive StrategiesChoosing Which Rivals to AttackChoosing the Basis for AttackUsing Defensive Strategies to Protect the Company’s PositionBlocking the Avenues Open to ChallengersSignaling Challengers that Retaliation is LikelyStrategies for Using the Internet as a Distribution ChannelUsing the Internet Just to Disseminate Product InformationUsing the Internet as a Minor Distribution ChannelBrick-and-Click Strategies: An Appealing Middle GroundStrategies for Online EnterprisesChoosing Appropriate Functional-Area StrategiesFirst-Mover Advantages and DisadvantagesTutorial: Offensive Strategies; Defensive Strategies; Strategies for Using the Internet as a Distribution Channel; Choosing Appropriate Functional-Area Strategies; First-Mover Advantages and DisadvantagesLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer10. Competing in Foreign MarketsWhy Companies Expand Into Foreign MarketsThe Difference between Competing Internationally and Competing GloballyCross-Country Differences In Cultural, Demographic, and Market ConditionsThe Potential for Locational AdvantagesThe Risks of Adverse Exchange Rate FluctuationsHost Government Restrictions and RequirementsThe Concepts of Multicountry Competition and Global CompetitionStrategy Options for Entering and Competing in Foreign MarketsExport StrategiesLicensing StrategiesFranchising StrategiesA Multicountry Strategy or a Global Strategy?Tutorial: Competing in Foreign Markets quest for competitive advantageLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer11. Competing in Foreign Markets Cont’dThe Quest for Competitive Advantage in Foreign MarketsUsing Location to Build Competitive AdvantageUsing Cross-Border Transfer of Competences and Capabilities to Build Competitive AdvantageUsing Cross-Border Coordination to Build Competitive AdvantageProfit Sanctuaries, Cross-Market Subsidization, and Global Strategic OffensivesUsing Cross-Market Subsidization to Wage a Strategic OffensiveGlobal Strategic OffensivesStrategic Alliances and Joint Ventures with Foreign PartnersThe Risks of Strategic Alliances with Foreign PartnersMaking the Most of Strategic Alliances with Foreign PartnersCompeting in Emerging Foreign MarketsStrategy ImplicationsStrategies for Local Companies in Emerging MarketsTutorial: Competing in Emerging Foreign marketsLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer12. Tailoring Strategy to Fit Specific Industry and Company SituationsStrategies for Competing in Emerging IndustriesChallenges When Competing in Emerging IndustriesStrategic Avenues for Competing in an Emerging IndustryStrategies for Competing in Turbulent, High-Velocity MarketsStrategic Postures for Coping with Rapid ChangeStrategic Moves for Fast-Changing MarketsStrategies for Competing in Maturing IndustriesIndustry Changes Resulting from Market MaturityStrategic Moves in Maturing IndustriesStrategic Pitfalls in Maturing IndustriesStrategies for Firms in Stagnant or Declining IndustriesStrategies for Competing in Fragmented IndustriesReasons for Supply-Side FragmentationStrategy Options for a Fragmented IndustryTutorial: Strategies for competing in Emerging industries; Turbulent high velocity marketsLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer13. Tailoring Strategy to Fit Specific Industry and Company Situations Cont’dStrategies for Sustaining Rapid Company GrowthThe Risks of Pursuing Multiple Strategy HorizonsStrategies for Industry LeadersStrategies for Runner-Up FirmsObstacles for Firms with Small Market SharesStrategic Approaches for Runner-Up CompaniesStrategies for Weak and Crisis-Ridden BusinessesTurnaround Strategies for Businesses in CrisisLiquidation – The Strategy of Last ResortEnd-Game Strategies10 Commandments for Crafting Successful Business StrategiesMatching Strategy to Any Industry and Company SituationTutorial: Strategies for competing sustaining growth; matching strategy to any industry and company situationLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer14.Diversification Strategies for Managing a Group of BusinessesWhen to DiversifyFactors that Signal When It is Time to DiversifyBuilding Shareholder Value: The Ultimate Justification for DiversifyingStrategies for Entering New BusinessesAcquisition of an Existing BusinessInternal Start-UpJoint Ventures and Strategic PartnershipsChoosing the Diversification Path: Related Versus Unrelated BusinessesTutorial: When to DiversifyLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer15.Diversification Strategies for Managing a Group of Businesses Cont’dThe Case for Diversifying into Related BusinessesCross-Business Strategic Fits Along the Value ChainStrategic Fit, Economies of Scope, and Competitive AdvantageThe Case for Diversifying into Unrelated BusinessesThe Merits of an Unrelated Diversification StrategyThe Drawbacks of Unrelated DiversificationCombination Related-Unrelated Diversification StrategiesEvaluating the Strategy of a Diversified CompanyAfter a Company Diversifies: The Four Main Strategy AlternativesStrategies to Broaden a Diversified Company’s Business BaseDivestiture Strategies Aimed at Retrenching to a Narrower Diversification BaseStrategies to Restructure a Company’s Business LineupMultinational Diversification StrategiesTutorial: Divestiture StrategiesLecture (2 hr)Tutorial (2 hrs)LCD Projector,BB/Chalk, Computer9. SUMMARY OF TIME NEEDEDLectures30 hrsTutorials (and assignments)30 hrs10. COURSE ASSESSMENT:Continuous assessment (Quizzes):There will be Quizzes arising from Lectures covered10%Continuous assessment (Tutorial/Practical):For each Tutorial/Practical there will be an assignment10%Continuous assessment (Mid-semester Test):There will be 2 mid semester tests20%University Examination:Final examination 60% ................
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