BUSN 789

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BUSN 789
BUSN 789 WELCOME BACK!!

• Dr. Karen A. Froelich
• WELCOME BACK!!

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Tonights agenda

• Administrative details
• Class introductions
• Introduction to strategic management
• Syllabus
• - Term project
• - Case 1

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Strategic Managementconsider Starbucks . . .

• What factors underlie their success?
• What strategic challenges do they face?
• What strategic advice would you give?

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Attributes of strategic management
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Putting it all together . . .

• Vision and Mission
• ? ?
• External analysis Internal analysis
• ? ?
• Opportunities threats Strengths
  weaknesses
• Key success factors Distinctive competence
• ? ?
• Strategy
• ? ? ?
• Managerial values Social responsibility
• ? Implementation
• ?
• Sustainable competitive advantage
• Above average returns

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Strategic management

• . . . shooting at a moving target
• of coalignment . . .
• - JD Thompson

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Management art or science?

• Art
• the conscious use of skill (acquired by
  experience, study, and/or observation) and
  creative imagination in a production process
• Websters dictionary

• Science
• a knowledge covering general truths or general
  law, especially as obtained through the
  scientific method

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Dueling Perspectives on Strategic Management

• Content models
• design
• planning
• positioning
• I/O economics
• externally focused
• deliberate/M. Porter
• Classic Harvard model

• Process models
• cognitive
• learning
• power
• behavioral
• orgl culture
• orgl structure
• internally focused
• emergent/Mintzberg

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• Business schools train people to sit in their
  offices and look for case studies.
• The more Harvard succeeds, the more business
  fails. --
• Henry Mintzberg (!!)

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Strategy Bites Back It Is Far More, and Less,
than You Ever Imagined

• Beware of strategy
• Are strategies real things?
• Swoted by strategy
• Strategy as a little black dress
• The seven deadly sins of planning
• The soft underbelly of hard data
• Strategic thinking as seeing --
• seeing a symphony
• Five easy steps to destroying a rich culture
• Mintzberg, 2005

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Todays challenge - to effectively utilize BOTH
strategy content and strategy process. The
strategy process is becoming part of the
strategy content!
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SYLLABUS

• Objectives
• Contact info
• Grade determination
• General information/course policies
• - ebooks
• - pop quizzes
• - case discussions
• - exams 3/4 4/22
• - schedule
• -team project
• Case 1 assignment

built-in flexibility
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TERM PROJECT

• A team effort
• email PREFERENCES BY FRIDAY for ONE person
  (either to work with or NOT work with)
• 20-minute presentation
• - analysis, intellect, sophistication
• - relevant strategic situation
• - interesting, lively FRESH
• - topics need to be pre-approved

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Suggested topics

• 1. Actual process of strategy making in a firm
  description, prescription.
• 2. Strategies for making opportunity in
  recession.
• 3. Strategic positions in an industry (locally).
• 4. Full strategic analysis for local player.
• 5. Development of core competency in a firm.
• 6. Use of strategic management in not-for-profit
  context.
• 7. Local/regional strategic alliances.
• 8. Parallels between artists and strategists.
• 9. Strategic disaster description critique.
• 10. Viability of quality/design differentiation?
• 11. Mapping the structure of the art industry.

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Case 1Costco Wholesale Corporation

• Drawing where appropriate from our class and
  readings
• materials, answer the following questions ON
  YOUR
• OWN in about 3 double-spaced typed pages (
  appendix).
• 1. Identify and briefly discuss
• a) 5 notable external factors and
• b) 5 notable internal factors
• influencing appropriate strategy for this
  firm.
• 2. Does Costco have clear strategy?
  Insightfully discuss.
• 3. How is Costco doing financially? Provide
  financial analysis (use an appendix) to support
  your opinion.
• 4. What strategic advice do you have for the
  firm? Why?