mgt510 strategy management (project paper)

FORMATS

Unit title:Strategic Management (Project Paper)

Unit code:MGT510

Credit points:8cp

Unit description:This course is the capstone unit of the MBA program. Students are expected to apply the different knowledge of concepts and techniques gained from other functional business units, including accounting, finance, marketing, operations management and economics in order to develop an understanding of strategy as an integrative discipline.

Specifically, it defines the processes of strategic management and policy formulation. It examines how marketing, finance, operations and human resources can be integrated to attain corporate goals and explores the different ways strategies and policies are implemented, controlled and evaluated for maximum impact. It offers to analyze complex corporate problems on the basis of strategic management fundamentals, real life scenarios and case studies. Students studying in these areas learn how to start their own businesses, become global managers, and to formulate corporate and business level strategies.

There is no examination or assignments in this unit. Each student works individually on his/her project paper. Approved in advance by the supervisor, the student writes a substantial paper on strategy themes or issues in business with a plan on how to use analytical models and techniques to aid in business decision-making or solve a variety of business-management problems. The project paper provides a full and comprehensive assessment of their participation in the MBA program.

Unit objectives:This unit is designed to enable students to:

Knowledge

1. Understand the fundamental concepts in strategic management

2. Be aware of the various impacts of external environmental forces in business and corporate strategy.

3. Identify the primary ingredients of strategy formulation

4. Differentiate between symptoms and basic causes of business problems.

5. Identify the contribution of strategy towards successful performance

Skills

1. Critically think independently and act strategically

2. Recognize the multiple role of strategy within organizations

3. Able to work out business strategies and implementation plans in a rational and defensible manner

4. Develop analytical tools to make strategic decisions

5. Develop a habit of orderly analytical thinking and a skill in reporting conclusions effectively

Values/Attitudes

1. Exhibit unconventional thinking abilities

2. Apply knowledge from functional areas to complex business cases

3. Develop and reinforce the general management point of view

4. Familiar with the practical realities of running difficult businesses

Unit outcomes:1. Offers useful theoretical frameworks of strategy and strategic management applications to understand the link between the firm and its environment in order to develop successful corporate or business strategies.

2. Concerned with the strategic management of the whole organization to optimize its performance over the long term.

3. Focuses on the choices, tradeoffs and activities of managers and entrepreneurs striving for a strong competitive position.

Readings:Recommended texts:

1. David, F. R. (2003), Strategic Management: Concepts & Cases, 9th edn., Prentice-Hall

2. Fahey, L. & Randall, R.M. (2001), The Portable MBA in Strategy (Portable MBA), John Wiley & Sons

3. Hitt, M.A., Ireland, R.D. & Hoskisson, R.E. (2004) Strategic Management : Competitiveness and Globalization: Cases, 6th edn., South-Western College

4. Johnson, G. & Scholes, K. (2002), Exploring Corporate Strategy, 6th edn., Prentice Hall

5. Kaufman, R., Oakley-Browne, H., Watkins, R. & Leigh, D. (2003), Strategic Planning for Success: Aligning People, Performance And Payoffs, John Wiley & Sons

6. Pearce II, J.A. & Robinson Jr., R.B. (2000), Strategic Management: Formulation, Implementation and Control, 7th edn., McGraw-Hill

7. Thompson Jr. A.A. & Strickland III, A.J. (2003), Strategic Management: Concept and Cases, 13th edn., McGraw-Hill

Supplementary readings

1. Porter, M. E. (2000), What Is Strategy?,Harvard Business School Press

2. DeWit, B. & Meyer, R. (2004), Strategy: Process, Content, Context - An International Perspective, 3rd edn., South-Western College Pub.

3. Dess, G.G., Lumpkin, G.T. & Taylor, M.L., (2005), Strategic Management: Creating Competitive Advantages, 2nd edn., McGraw-Hill Irwin.

4. Hamel, G. (2002), Leading the Revolution: How to Thrive in Turbulent Times by Making Innovation a Way of Life, 1st edn., Plume Books

5. Hitt, M.A., Ireland, R.D. & Hoskisson, R.E. (2004), Strategic Management - Competitiveness and Globalization: Concepts & Cases, 6th edn., South- Western College Pub.

6. Kaplan, R.S. & Norton, D.P. (2000), The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment, Harvard Business School Press

7. Kaplan, R.S. & Norton, D.P. (2004), Strategy Maps: Converting Intangible Assets into Tangible Outcomes, Harvard Business School Press

8. Mintzberg, H., Ahlstrand, B. & Lampel, J. (1998), Strategy safari: A Guided Tour Through The Wilds of Strategic Management, 1st edn., The Free Press, New York.

9. Pearce, J.A. (2004), Strategic Management: Formulation, Implementation and Control, 9th edn., McGraw-Hill College

10. Wheelen, T. & Hunger, J.D. (2002), Essentials of Strategic Management, 3rd edn., Prentice Hall

11. Wheelen, T. & Hunger, J.D. (2003), Concepts in Strategic Management and Business Policy, 9th edn., Prentice Hall

12. Porter, M.E. (1998), Competitive Strategy: Techniques For Analyzing Industries and Competitors, 1st edn., Free Press

13. Whittington, R. (2000), What Is Strategy and Does It Matter? International Thomson Business Press

Journals

1. Asia Pacific Journal of Management

2. Business Week

3. Far Eastern Economic Review

4. Fortune

5. Forbes

6. Harvard Business Review

7. Journal of Marketing

8. Newsweek

9. Sloan Management Review

10. Time

11. The Economist

Unit contents:TOPICS

1. Introduction to Strategic Management

Overview of Strategy

Context of Strategy

Benefits of Strategic Management

Ethics of Strategic Management

Strategy and Globalization

Learning actions:

Review Exercises and Problems:

(a) How do you describe the strategic management process?

(b) Is it necessary to combine analysis and intuition in strategic management?

(c) What are the benefits of good strategic management?

Readings:

Rowe, W.G. (February 2001), Creating Wealth in Organizations: The Role of Strategic Leadership. Academy of Management Executive, vol.15, no.1, pp 81.

Ireland, R.D., Hitts, M.A., Camp, M.S. & Sexton, D.L. (February 2001), Integrating Entrepreneurship and Strategic Management Actions to Create Firm Wealth. Academy of Management Executive, vol.15, no.1, pp 49.

Mintzberg, H. & Markides, C. (August 2000), Henry Mintzberg and Constantinos Markides on Strategy and Management, Academy of Management Journal, vol.14, no.3, pp 31.

2. Mission of the Business

What do we want to be?

What are we best in?

Vision and Mission

The Mission Statement

Learning actions:

Review Exercises and Problems:

(a) How significant is the vision and mission to an organization?

(b) Identify the business mission and analyze its components

(c) What is the impact of a clear mission on strategic management.

(d) Give examples of mission statement for 3 companies. Construct one appropriate to the organization you are working in and explain its significance

Readings:

Baetz, M.C. & Bart, C.K. (August 1996), Developing Mission Statements Which Work. Long Range Planning, vol. 29, no. 4, pp. 526-533.

Collins, J.C. & Porras, J.I. (September October 1996), Building Your Companys Vision. Harvard Business Review, pp. 65-78.

Lissak, M. & Roos, J. (February 2001), Be Coherent, Not Visionary. Long Range Planning, vol. 34, no. 1, pp. 53.

3. Environmental assessment

The External Audit

Economic, Social and Cultural

Political and Legal Issues

Technological Factors

Competitive Forces

Porters 5 Forces Model on Competitive Analysis

The External Factor Evaluation (EFE Matrix) on Industry Analysis

The Competitive Profile Matrix (CPM)

The Global Influences

Learning actions:Review Exercises and Problems:

(a) How is an environmental audit conducted for strategic management?

(b) Describe the external forces influencing a business organization

(c) Explain either the EFE Matrix or the Competitive Profile Matrix and how is it developed

(d) What are the global challenges to your organization?

Readings:

Bonabeau, E. (March 2002), Predicting the Unpredictable, Harvard Business Review, pp.109.

Bergh, D.D. & Fairbank, J.F. (April 2002), Measuring and Testing Change in Strategic Management Research. Strategic Management Journal, vol. 23, no. 4, pp.359.

Slater, S.F. & Olson, E.M. (January-February 2002), A Fresh Look at Industry and Market Analysis. Business Horizons, vol. 45, no. 1, pp.15.

4. Internal Assessment

The Internal Audit

Culture and Strategy

Management and Opportunities

The Value Chain and the Activities for Strategy

The Internal Factor Evaluation (IFE) Matrix


(a) Describe the process of internal strategic management audit

(b) What are the key functional areas of a business and its activities in the strategy management process

(c) What are the firms strengths and weaknesses

(d) Develop and explain the Internal Factor (IFE) Matrix

Readings:

Denis, J-L., Lamothe, L. & Langley, A. (August 2001), The Dynamics of Collective Leadership and Strategic Change in Pluralistic Organizations, Academy of Management Journal, vol. 44, no. 4, pp. 809.

Beal, R. & Yasai-Ardekani, M. (2000), Performance Implications and Aligning CEO Functional Experiences with Competitive Strategies, Journal of Management, vol. 26, no. 4, pp. 733.

King, A., Fowler, S. & Zeithaml, C. (May 2001), Managing Organizational Competencies for Competitive Advantage: The Middle-Management Edge, Academy of Management Executive, vol. 15, no. 2, pp. 95.

5. Practicing Strategies

Long term Objectives Types of Strategies Michael Porter: Generic Strategies Achieving Strategies Merger & AcquisitionsLearning actions:Review Exercises and Problems:

(a) What is the purpose of establishing long-term objectives?

(b) Explain the types of strategies undertaken by an organization

(c) Discuss Porters generic strategies

Readings:

Churchill, N. C. & Mullins, J. W. (May 2001), How Fast Can Your Company Afford to Grow? Harvard Business Review, pp. 135.

Garvin, D. A. and Roberto, M. A. (September 2001). What You Dont Know About making Decisions. Harvard Business Review, pp. 108.

6. Strategy Analysis and Strategic Choice

Framework for Strategy Analysis and Choice

Formulation of Strategy

Choice of Strategy


(a) Describe the 3 stages of the strategy formulation framework.

(b) Explain the development of TOWS Matrix, SPACE Matrix, BCG Matrix, IE Matrix and QSPM

(c) Discuss the impact of intuition and culture, political, ethical and social responsibility on strategy analysis and choice

Readings:

Brown, R. (February 2001), How We Built a Strong Company in a Weak Industry, Harvard Business Review, pp. 51.

Davenport, T.H., Haris, J.G., DeLong, D.W., Jacobson, A.L. & Mullins, J.W. (Winter 2001), Data to Knowledge to Results: Building an Analytic Capability, California Management Review, vol. 43, no. 2, pp. 117.

7. Strategy Implementation

Issues in Implementation Strategy

Policies, Perspectives and Objectives

Conflict Management

Restructuring and Reengineering

Performance and Compensation

Change Management

Culture and Strategy success

Operational and Human Resource Considerations


(a) Why is strategy implementation more difficult than strategy formulation?

(b) How do objectives and policies help in strategy implementation?

(c) What is the importance of the organizational structure to strategy implementation?

(d) How does culture and human resource considerations assist in implementation of strategy?

Readings:

Knight, D., Durham, C.C. & Locke, E.A. (April 2001), The Relationship of Team Goals, Incentives and Efficacy to Strategic Risk, Tactical Implementation and Performance, The Academy of Management Journal, vol. 44, no. 2, pp. 326.

King, W.A., Fowler, S.W. & Zeithaml, C.P. (May 2001), Managing Organizational Competencies for Competitive Advantage: The Middle-Management Edge, The Academy of Management Executive, Vol. 15, no. 2, pp. 95.

Wolf, J. & Egelhoff, W.G. (February 2002), A Reexamination and Extension of International Strategy Structure Theory. Strategic Management Journal, vol. 23, no. 2, pp.181.

8. Strategy Implementation

Marketing aspects

Accounting and Finance considerations

Research and Development concerns

Management Information Systems effectiveness


(a) What are the implementation tools for a marketing strategy?

(b) Why is financial analysis central to the implementation of strategy?

(c) How can R & D assist in strategy implementation?

(d) What can MIS contribute to support strategy implementation?

Readings:

Schroeder, R.G., Bates, K.A. & Junttila, M.A. (February 2002), A Resource-Based View of Manufacturing Strategy and the Relationship to Manufacturing Processes, Strategic Management Journal, vol. 23, no. 2, pp.105.

Slater, S.F. & Olson, E.M. (November 2001), Marketings Contribution to the Implementation of Business Strategy: An Empirical Analysis. Strategic Management Journal, vol. 22, no. 11, pp.1055.

9. Review, Evaluation and Control of Strategy

Objective of Review

Scope and Framework of Evaluation

Content of an Evaluation System

Audit and Control


(a) Describe a practical framework to evaluate strategies.

(b) Why is the evaluation process of strategy a complex yet necessary step for the success of an organization?

Readings:

Peiperl, M. A. (January 2001), Getting 360-Degree Feedback Right. Harvard Business Review, pp. 142.

10. Leadership in Strategy

Leadership and Management

Performance of Management Teams

Leadership and Strategic Direction

Core Competencies and Resources Portfolio

Organizational Culture

Ethical Practices

Balanced Scorecard


(a) Explain the scope of strategic leadership and the role of senior management in the organization.

(b) How does strategic leadership affect the direction of the firms strategies through managing their resources portfolio?

Readings:

Henderson, D.A., Ramirez, G.G., House, R.J. & Puranam, P. (February 2001), Does Leadership Matter? CEO Leadership Attributes and Profitability Under Conditions of Perceived Environmental Uncertainty. Academy of Management Journal, Vol. 44, no. 1, pp. 96.

Raynor, M. E. and Bower, J. L. (May 2001). Lead from the Center: How to Manage Divisions Dynamically. Harvard Business Review, pp. 92.

11. Strategic Entrepreneurship

Scope of Strategic Entrepreneurship

Entrepreneurial Attributes

International Entrepreneurship

Internal Corporate Venturing

Cooperation and Alliances

Acquisitions

Venture Capital and Initial Public Offerings

Value Creation


(a) Explain the scope of strategic entrepreneurship and its importance to competing in the global economy.

(b) What is international entrepreneurship and why is its role important in the global economy?

(c) How does strategic entrepreneurship create value for stakeholders and also support economic development?

Readings:

Brush, C.G., Edelman, L.F. & Greene, P.G. (2002), Internationalization of Small Firms: Personal Factors Revisited. International Small Business Journal, Vol. 20, no. 1, pp. 9-31.

Lu, J.W. & Beamish, P.W. (2001), The Internationalization and performance of SMEs. Strategic Management Journal, Vol. 22 (Special Issue), pp. 565-585.

12. Overview of the Project Paper

The Philosophy

The Objectives

The Plan

Learning actions:

Students are expected to refer to their module notes for further guide

and reference.

13. Scope & Framework of the Project Paper

Title

Introduction (Aims and Objectives of the Project Paper) Methodology (Theories, Applications and Evaluations) Research results Summary and Conclusions Bibliography and References

Learning actions:

Students are advised to prepare a draft outline of the Project Paper

14. Implementation

Selecting and confirming the Project Title

Outline the scope and framework of the project

Assigning students to specific supervisors

Question and Answer Session Learning actions:

Students are to prepare in advance the list of potential titles for

discussion and consideration of the supervisors. Confirmed titles

are to be submitted to the Principal Supervisor for assigning to

supervisors.

15. Monitoring of work progress

Supervision and consultation procedures

Group supervision and monitoring timetable Learning actions:

Students are expected to commit to a schedule of tutorial meetings

with their supervisors on a regular basis. Attendance will be recorded

by supervisors together with an interim report of students progress.

16. Progress tutorials

Regular meetings for monitoring student progress Interim report of students progress submitted by supervisor Learning actions:

Students are to attend at least 8 such tutorials with copies of their

research papers for discussion and consultation with their

supervisors. Supervisors will submit their interim reports of the

students progress at such tutorials for assessment and record

purposes.

17. Submission of Project Paper Learning actions:

Students are expected to complete and submit 2 copies of the Project

Paper for review on the due date, without any delays or extension.

18. Oral presentation of Project Paper Learning actions:

Students are expected to verbally present and defend their project

before the panel of appointed supervisors. Students may be required

to submit and provide additional comments and information in

support of their Project Paper based on feedback from the panel.

19. Final assessment

Final paper submitted

Supervisor submits assessment marks to Principal Supervisor

Award of final marks

Learning actions:

Students will be informed of the final assessment results. The basis

of assessment will depend on the interim reports submitted by the

students supervisor during the research, the comments raised by the

panel of supervisors during oral presentation and the report of the

supervisor based on the final paper submitted. The Principal

Supervisor has the final discretion in the eventual award of marks. Grades will be based on the following assessment criteria:

Project proposal - 10%

Research presentation - 15%

Oral presentation - 25%

Final paper - 50%

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mgt510 strategy management (project paper)

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