MGT 699 Business Policy and Strategy WALTER J
MGT 699 - Business Policy and Strategy WALTER J. FERRIER, Ph. D. Tel: 257 -5889 E-mail: wallyf@uky. edu On-line Syllabus and Schedule: www. uky. edu/~wallyf
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: A View from the Top Management Functional Management • Marketing • Production • R&D • Logistics • Acct. /Fin. Value-adding Activities
Medium-Term Benefits at Big Inc. Top Management You
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.
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 – Ability to anticipate and react – “Big picture” perspective
Strategic Management: Course Content What is it? What do CEOs do? 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 Textbook readings n Videos n Oral case reports n Web-based strategy simulation n Class discussions/participation n
Books and Readings Contemporary Strategy Analysis (Grant) n CAPSTONE™ Subscription (. . . details later) n XANEDU. COM on-line course pack: n · · · · IBP and Meat Industry Printer Industry Apple Starbucks Cola Wars Pet Food Industry Newell Co. · · · Dell Pennzoil Cooper Ind. Anheuser-Busch Virgin Group Monsanto
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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
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Assignments & Grading
- Slides: 15