MPH_ASTM Strategic Management (for Czech studies)

Faculty of Economics and Administration
Spring 2018
Extent and Intensity
0/2/0. 4 credit(s). Type of Completion: zk (examination).
Teacher(s)
Tuck Lloyd Crawford MacRae, M. B.A. (seminar tutor)
Guaranteed by
Ing. Petr Smutný, Ph.D.
Department of Business Management – Faculty of Economics and Administration
Contact Person: Mgr. Jana Nesvadbová
Supplier department: Department of Business Management – Faculty of Economics and Administration
Timetable of Seminar Groups
MPH_ASTM/01: Mon 9:20–11:00 S309, T. MacRae
Prerequisites
(!NOWANY( MPH_STRP Corporate Strategic Management , MPH_STMA Strategic Management )) && (! MPH_STRP Corporate Strategic Management ) && (! MPH_STMA Strategic Management )

A basic understanding of financial ratio analysis is an asset. Students must also be willing to work in a team environment and attend weekly team meetings. The ability to think analytically and understand basic analytical models is a requirement.

Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 5 student(s).
Current registration and enrolment status: enrolled: 0/5, only registered: 0/5
fields of study / plans the course is directly associated with
there are 73 fields of study the course is directly associated with, display
Course objectives

What do the North American Free Trade Agreement, the recent economic crisis, the European Union, and the collapse of the Soviet Union have in common? Regardless of timeframe, they all effected changes to the global economy, an economy where geographical and cultural distances have been significantly diminished through rapidly changing technologies. It is an economy where global competition can attack the profit sanctuaries of any firm, large or small. Executives and personnel from all functional areas of business must fully understand the internal and external factors that affect their organization. They must be able to analyze these factors, formulate a cohesive strategy that will secure the company's competitive position in this rapidly changing marketplace, and implement that strategy with meticulous precision.

This course introduces participants to the strategic management process through lectures, case studies, and group work. It demonstrates the need for analytical thought when dealing with the process and teaches how to formulate a cohesive strategy that is fully congruent with the strategic intent of the firm.

Learning Outcomes

Upon successful completion of the course, participants should be able to:
  • Understand the importance of strategic management to the survival of the firm in a rapidly changing global environment.

  • Discuss and apply a variety of models and tools used to analyze the internal and external factors that influence a firm’s ability to engage and succeed in the marketplace.

  • Make sense of conflicting data and understand the importance of exercising judgement in the absence of preferred practices or perfect solutions.

  • Consolidate information and utilize it in the formulation of strategic alternatives.

  • Through evaluation techniques, determine the most appropriate strategy for the firm while understanding the trade-offs and risks.

    • Syllabus

    • READ THIS SYLLABUS CAREFULLY. It is mandatory that you come to class prepared to discuss the assigned homework, reading materials and casework.

      Week 1, Strategic management overview:

      1. The global economy and strategy
      2. Corporate planning horizons
      3. Strategic drift
      4. Strategic management as a process
      5. Internal and external forces

      Readings:

       Ottawa Senators Case Study. Be prepared to discuss in class.
      Strategic Management, Tools and Applications, Pages: 1 – 12

      Week 2, Strategies in Action:

       1. Porter’s generic strategies
      2. Integration strategies
      3. Intensive strategies
      4. Diversification strategies
      5. Defensive strategies
      6. Combination strategies

      Prior to Class:

      Read the Ottawa Senators Case and produce a summary of actions the Senators have taken to try and save the team. Be prepared to discuss in class.

      Readings:

       Strategic Management, Tools and Applications, Pages: 13 – 23

      Week 3, External analysis models and tools

       1. Porter’s five forces
      2. Boston Consulting Group advantage matrix
      3. Competitive environment analysis

      Individual Essays are due.

      Prior to Class:

      Read the Ottawa Senators Case and produce a BCG advantage matrix and a Competitive environment analysis based on your understanding of the materials. Be prepared to discuss in class.

      Readings:

       Strategic Management, Tools and Applications, Pages: 23 – 35

      Week 4, Thursday March 17th. Self Study, Group Presentation Preparation. NO CLASS

      Week 5, External analysis models and tools

       1. Industry attractiveness analysis
      2. Industry lifecycle analysis
      3. SWOT analysis
      4. External factor evaluation matrix

      Prior to Class:

      Read the Ottawa Senators Case and produce an industry attractiveness analysis, industry lifecycle analysis, a SWOT analysis, and an external factor evaluation matrix based on your understanding of the materials. Be prepared to discuss in class.

      Readings:

       Strategic Management, Tools and Applications, Pages: 36 – 44

      Week 6, Group Presentations: External Environment Analysis.

      Week 7, Internal analysis and tools

       1. What is internal analysis
      2. Financial analysis
      3. Company capability profiling
      4. Growth vector analysis
      5. Product portfolio matrix

      Prior to Class:

      Read the Ottawa Senators Case and produce a company capability profile, growth vector analysis, and a product portfolio matrix based on your understanding of the materials. Be prepared to discuss in class.

      Readings:

       Strategic Management, Tools and Applications, Pages: 44 – 64

      Week 8, Internal analysis and tools

       1. Product lifecycle analysis
      2. SWOT analysis
      3. Vulnerability analysis
      4. Internal factor evaluation matrix

      Prior to Class:

      Read the Ottawa Senators Case and produce a product lifecycle analysis, SWOT analysis, vulnerability analysis, and an internal factor evaluation matrix based on your understanding of the materials. Be prepared to discuss in class.

      Readings:

       Strategic Management, Tools and Applications, Pages: 64 – 76

      Week 9, Strategy formulation tools

       1. Formulation overview
      2. SWOT matrix
      3. Strategic position and action evaluation tool
      4. Strategic options and generic strategies
      5. Product portfolio matrix

      Prior to Class:

      Read the Ottawa Senators Case and produce a SWOT matrix, a strategic position and action evaluation analysis. A strategic options and generic strategies analysis, and a product portfolio matrix balancing proposal based on your understanding of the materials. Be prepared to discuss in class.

      Readings:

       Strategic Management, Tools and Applications, Pages: 76 – 83

      Week 10, Strategy formulation tools

       1. Internal-External matrix
      2. Directional policy matrix
      3. Grand strategy matrix

      Prior to Class:

      Read the Ottawa Senators Case and produce an internal-external matrix, directional policy matrix, and a grand strategy matrix based on your understanding of the materials. Be prepared to discuss in class.

      Readings:

       Strategic Management, Tools and Applications, Pages: 83 – 87

      Week 11, Decision tools

       1. Quantitative strategic planning matrix
      2. Stakeholder analysis matrix
      3. Assessment of cultural impact
      4. Cultural fit to strategic change matrix

      Prior to Class:

      Read the Ottawa Senators Case and produce a quantitative strategic planning matrix, stakeholder analysis, an assessment of cultural impact, and a cultural fit to strategic change matrix based on your understanding of the materials. Be prepared to discuss in class.

      Readings:

       Strategic Management, Tools and Applications, Pages: 87 – 102

      Week 12, Final Group Presentations. Peer evaluations are due.

      Week 13, Final Exam

    Literature
      required literature
    • Strategic Management: Strategy Formulation, Tuck MacRae
      recommended literature
    • JOHNSON, Gerry, Richard WHITTINGTON and Kevan SCHOLES. Fundamentals of strategy. 2nd ed. Harlow, England: Pearson, 2012, xix, 284. ISBN 9780273757252. info
    • Fred R. David, Forest R. David. Strategic Management: A Competitive Advantage Approach, Concepts & Cases. 15th ed., 2015, ISBN-10-133444791
    • Cornelis A. De Kluyver, John A. Pearce. Strategy: A View From The Top. 4th ed., 2012, ISBN-10-132145626
      not specified
    • Norman M. Scarborough, Jeffrey R. Cornwall. Entrepreneurship and Effective Small Business Management. 11th ed., 2015, ISBN-10-133506320
    Teaching methods

    This course introduces participants to the strategic management process through lectures, case studies,and group work. It demonstrates the need for analytical thought when dealing with the process and teaches how to formulate a cohesive strategy that is fully congruent with the strategic intent of the firm. Throughout the course participants are required to act the role of a senior executive and work on an executive team. Teams will be expected to set strategic directions, allocate resources in the face of global market uncertainty, integrate the various parts of the Organization, and fully understand the potential outcomes of their decisions. By the end of the course, participants will have been responsible for the formulation of a complex corporate strategy; they will have reshaped a company, and ensured that the firm will prosper in the rapidly changing global economy.

    Although the course primarily deals with firms operating within the economic or market domain, the tools and processes are also applicable to organizations in the state and civil society domains.

    Assessment methods

    There will be five student grading points as follows:

    1. The first is an individual assignment worth 15% of the total grade. This assignment will be used to understanding each student’s motivation for taking the course, their level of English, and their knowledge of the subject. The essay is due in week 3. It is comprised of a two page, approximately 1000 word, essay which covers the following:

    a. Explain in 500 words, the role of strategic management and the key factors which influence successful strategy development.

    b. In 500 words, explain your motivation for taking this course and how you feel you can best contribute to your peer’s success and to the learning objectives outlined in the syllabus.

    2. Grading point two is a group assignment worth 25% of the total grade. At the beginning of the term, students will be supplied with a case study to which they must apply the course materials in order to solve the case. For this assignment, groups must perform an external analysis based on information from the case. This analysis is due in week 6 and must be presented in class.

    3. The fourth grading point is worth 20%. Based on the corrected results from deliverable two and utilising the internal analysis and matching tools taught in the course, groups will be required to formulate a comprehensive, viable strategy for the company presented in the case. The results of their analysis are to be presented in class on week 12.

    4. In week 12, each student must submit a completed evaluation form for each member in their group. A standard form will be provided to students through the course materials section of the IS. Evaluations will represent 15% of the student’s final grade.

    5. A final, closed book, written exam worth 25% of the final grade will be administered in week 13. The exam will consist of short answer questions pertaining to the application and construction of the analytical tools used in class and in the group project. Any copying, usage of other peoples work or presentations, or carrying out the exam using forbidden aids including textbooks, notes, any communication devices or any other breach of objectivity of the exam is regarded as a failure to meet the obligations of the subject and as a serious breach of study regulations. As a consequence, the teacher grades the student with "F" and the dean is allowed to initiate a disciplinary action, which might lead to the termination of the studies.

    Language of instruction
    English
    Further comments (probably available only in Czech)
    Study Materials
    The course is taught annually.
    General note: Tento předmět je ekvivalentní českému předmětu MPH_STRP a může být za něj uznán. Také je ekvivalentem MPH_STMA. This course is an equivalent to MPH_STRP and MPH_STMA.
    Information on course enrolment limitations: Nezapisují si studenti, kteří absolvovali MPH_STRP.
    Listed among pre-requisites of other courses
    The course is also listed under the following terms Spring 2017, Spring 2019.
    • Enrolment Statistics (Spring 2018, recent)
    • Permalink: https://is.muni.cz/course/econ/spring2018/MPH_ASTM