MGT 499 Strategic Management Walter J Ferrier Ph

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

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

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)

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 as “science”. Thrive on Dynamism

Medium-Term Benefits Top Management You

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 F Written and oral case report F Web-based strategy simulation F Class discussions/participation

Grading

Books and Readings F Strategic Management: Competitiveness and Globalization (Hitt, Ireland & Hoskisson 3 rd Ed. ) F Business Strategy Game (6 th Ed. ) F Johnny Print Case: Ryka F Harvard Business School (HBS) Case Packet: · · Apple Nucleon Pennzoil Breakfast Cereal Industry · · IBP and Meat Industry Procter & Gamble: VIZIR Monsanto Biotech (A) Kellogg’s, Quaker, Philip Morris

LISTSERV F Subscribe: 1. E-mail to: LISTSERV@lsv. uky. edu 2. Put the following text in the message body: subscribe listname Yourfirstname Yourlastname 3. Reply to confirmation with ‘ok’ in body F Sending Mail: MGT 499 DAY@lsv. uky. edu MGT 499 NIGHT@lsv. uky. edu

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Internet Resources F http: //www. uky. edu/~wallyf Link F http: //hitt. swcollege. com F http: //interactive. wsj. com ($49. 00 per year) F http: //quote. yahoo. com/ F http: //cnnfn. com F http: //www. nyt. com/ F http: //ciber. bus. msu. edu/busres. htm F LISTSERV (see MGT 499 Welcome page) F E-mail: wallyf@pop. uky. edu

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 attached to Ale-8 -One case from Johnny Print

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

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