MGT 699 Business Policy and Strategy WALTER J
MGT 699 - Business Policy and Strategy WALTER J. FERRIER, Ph. D. Tel: 257 -9326 E-mail: walter. ferrier@uky. edu
Def. : Strategic Management -- The set of commitments, decisions, and actions required to achieve competitiveness.
Strategic Management in the News n n n n Low price leader / Price cutting Differentiated player / Unique product or marketing approach Market pioneer / Innovator, first-mover / New products, etc. M&A / Restructuring / Turnaround Alliances / Joint ventures New international markets / off shore production New plants / equipment / efficiency processes
Course Perspective: Strategy…A View from the Top? Top Management Functional Management • Marketing • Production • R&D • Logistics • Acct. /Fin. Value-adding Activities
Comments from the Fortune 500 n n n Need to change culture … need big picture view Keeping track of competitors / customers is everyone’s job Cross-functional integration – – – n Strategy Problem-solving Decision-making Good ideas get killed on their way bubbling up … because they bubble straight up instead of circulating around first.
Medium-Term Benefits at Big Inc. Top Management Don’t let this be you ?
Interested in Entrepreneurship? Small business management … n Start-ups … n YOU will be a top officer, strategist, decision-maker: n – Pazzo’s vs. Joe Bologna’s vs. Domino’s – Lexington Brewing Co. vs. Anheuser-Busch – John’s Running Shop vs. Footlocker – Pannell’s Swim Shop vs. Dick’s Sporting Goods
Managing Expectations n What you will get from this course: – Useful frameworks/heuristics – How to manage information and knowledge – Ability to integrate and analyze – Ability to anticipate and react – Ability to solve strategic problems – Ability to make decisions – “Big picture” perspective
Strategic Management: Course Content What is it? What do CEOs do and worry about? n Analysis of industries and competition n Business-level strategy: How to compete? n Competitive dynamics: Head-to head rivalry n Corporate-level strategy: Managing the portfolio n
Pedagogical Approach Real-world business cases & current events n On-line readings n Oral case reports n Field exercises n Web-based strategy simulations n Class discussions/participation n Videos, guest speakers n
Course Materials n n n n Quick. MBA. com CAPSTONE™ simulation (. . . details soon) AFTERMARKET™ simulation (. . . details later) PRICE STRATEGY simulation (. . . details later) MERGER PLAN simulation (? ? ? ) CITY CAR simulation (? ? ? ) XANEDU. COM on-line course pack: · IBP and Meat Industry · Pennzoil · XM Satellite Radio · Gillette · Webvan · Kraft/Genl Food · Plus 5 HBR articles
LISTSERV n Subscribe: 1. Send E-mail by noon tomorrow to: walter. ferrier@uky. edu 2. Check your e-mail tomorrow for ‘welcome’ message(s) n To send message to MGT 699 list: Send to: MGT 699@lsv. uky. edu Remember: Messages sent to MGT 699 list will be received by EVERYONE in class!
Assignments & Grading ?
XANEDU. COM University of Kentucky MBA - MGT 699 Business Policy & Strategy 1. www. xanedu. com/login? Pack. Id=17282 8 2. 3. Go to "Student Registration" Confirm your Course. Pack Selection; complete purchase form. 4. Go to "My Xan. Edu“ to access MGT 699 Course. Pack. 5. Course. Pack includes encrypted items with copyright-enforcement technology; download and install a free Sealed. Media plugin to access this content.
CAPSTONE Simulation Web-based, interactive competition simulation n Teams play role of CEO, CFO, COO, etc. n Teams compete against one another n Coordinate multifunctional strategy, decision-making, etc. n Computer rankings, pre-game report, postgame report n
Assignments for Next Week MONDAY n Subscribe to XANEDU. com – – – What is strategy? (Porter) Making strategy: Learn by doing (Christensen) Minutes of Oct 19 Ex. Comm Meeting – I will also send other links about Cuban Missile Crisis via e-mail WEDNESDAY n Case study (XANEDU. com) – IBP and the U. S. Meat Industry
- Slides: 16