MGT 499 Strategic Management Walter J Ferrier Ph

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MGT 499 - Strategic Management Walter J. Ferrier, Ph. D. Office: 455 X Tel:

MGT 499 - Strategic Management Walter J. Ferrier, Ph. D. Office: 455 X Tel: 257 -9326 E-mail: [email protected] uky. edu Web: www. uky. edu/~wallyf

Comments from the Fortune 500 F Need to change culture … need big picture

Comments from the Fortune 500 F Need to change culture … need big picture view F Keeping track of competitors / customers is everyone’s job F Cross-functional integration – Strategy – Problem-solving – Decision-making F Good ideas get killed on their way bubbling up … because they bubble straight up instead of circulating around first. (same with information flows)

Course Perspective: A View from the Top Management Functional Management • Marketing • Production

Course Perspective: A View from the Top Management Functional Management • Marketing • Production • R&D • Logistics • Acct. /Fin. Value-adding Activities

Medium-Term Benefits Top Management You

Medium-Term Benefits Top Management You

definition: Strategic Management -- The set of commitments, decisions, and actions required to achieve

definition: Strategic Management -- The set of commitments, decisions, and actions required to achieve competitiveness.

Strategic Management: Course Content F What is it? What do CEOs do? F Analysis

Strategic Management: Course Content F What is it? What do CEOs do? F Analysis of industries and competition F Business-level strategy: How to compete F Competitive dynamics: Head-to head rivalry F Corporate-level strategy: Managing the portfolio F Strategic management of the multinational firm

MGT 499 and Your Personality? Need for Stability Management as “art” or “craft”. Management

MGT 499 and Your Personality? Need for Stability Management as “art” or “craft”. Management as “science”. Thrive on Dynamism

Your Expectations F What do YOU want out of this course? – Useful frameworks

Your Expectations F What do YOU want out of this course? – Useful frameworks – General knowledge – Ability to integrate – “Big picture” perspective – ? ? ? F What motivates YOU?

Pedagogical Approach F Real-world business cases & current events F Textbook readings F Videos

Pedagogical Approach F Real-world business cases & current events F Textbook readings F Videos F Written and oral case report F Web-based strategy simulation F Class discussions/participation

Grading

Grading

Books and Readings F Strategic Thinking (De Kluyver) F CAPSTONE™ Subscription (. . .

Books and Readings F Strategic Thinking (De Kluyver) F CAPSTONE™ Subscription (. . . details later) F Johnny Print Case/Readings: Ryka, etc. F Harvard Business School (HBS) Case Packet: · · · IBP and Meat Industry Cereal Industry Airlines Industry in 1995 Starbucks Apple in 1999 Red Hat - Linux · · · Webvan Pennzoil Monsanto: Age of Biotech Monsanto: March into Biotech DNA Plant Technology How to fight a price war

LISTSERV F Subscribe: 1. Send E-mail to: LISTSERV@lsv. uky. edu 2. Put the following

LISTSERV F Subscribe: 1. Send E-mail to: [email protected] uky. edu 2. Put the following text in the message body: subscribe MGT 499 DAY Hal Mumme 3. Reply to confirmation with ‘ok’ in body F Sending Mail: to: MGT 499 [email protected] uky. edu F See instructions on MGT 499 web page

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Internet Resources F www. uky. edu/~wallyf F cbs. marketwatch. com F cnnfn. com F

Internet Resources F www. uky. edu/~wallyf F cbs. marketwatch. com F cnnfn. com F www. nyt. com F www. strategy-business. com F others

Keys to Case Study F Issues and outlook: What’s the problem? F Information: What’s

Keys to Case Study F Issues and outlook: What’s the problem? F Information: What’s relevant? F Alternative solutions: What are the choices? F Decision criteria: How to decide? F Making the call: What is best solution? F Action plan: Steps for implementation? F Evaluation and impact: Will it work? * See sample case on course website

Keys to Participation How. . . F F F F Identification of key issues

Keys to Participation How. . . F F F F Identification of key issues Significant analysis Logical synthesis of discussion points Identification of new alternatives Suggestion of plan of action Identification of key assumptions Meaningful summary When. . . F F F “Open” a case Contribute to middle Linkage with text reading Summary, synthesis, resolution, or closure LISTSERV discussions

Evaluating Participation Quality of Comments + ++ 0 Frequency and Volume of Comments

Evaluating Participation Quality of Comments + ++ 0 Frequency and Volume of Comments

Strategic Management in the News F Low price leader / Price cutting F Differentiated

Strategic Management in the News F Low price leader / Price cutting F Differentiated player / Unique product or marketing approach F Market pioneer / Innovator, first-mover / New products, etc. F M&A / Restructuring / Turnaround F Alliances / Joint ventures F New international markets / off shore production F New plants / equipment / efficiency processes

Corporate Social Responsibility Project/Briefing F Influence of socio-political factors on strategy – Genetic engineering-based

Corporate Social Responsibility Project/Briefing F Influence of socio-political factors on strategy – Genetic engineering-based industries/firms – Napster – Firestone – Pharmaceutical industry/firms – Gun manufacturing industry/firms – Microsoft vs. Netscape – Tobacco industry/firms – Mitsubishi