BLB10089-3 Revison Guide Sept 2005 pc/ll

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Do not forget to answer all the questions/brief for the three parts of the assignment! – take into the weighting for each question and relate to the word limit of 3000 words (plus the 10% the allowance). Do not exceed this limit, but do make use of the allowance for supporting appendices.
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I advocate repeating the assignment brief in full in your answers – you can paste them in from the module website. You can always remove them at the end, but this way you are less likely to miss any thing!
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Note the word limit does not include tables and diagrams and these can be included in the body of your answer. The 8 pages of appendices are not included in the word count either- so make good use of these, but for extensions to the body of your report. Putting in print off’s of EMC April reports in your appendices will not necessarily add value to your work, but trend graphs over the five year run will communicate more information. So in terms of financial info. etc you should consider showing trends over the 5 year run.
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The reference & bibliography sections are not included in the word count, but citations are.
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Better answers always show evidence of wider readings - beyond the core text – so engage the literature!
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Papers on strategy: you have links to papers via EBSCO/JSTOR. In addition to the library we have other ejournals and ebooks to further our research, understandings and thus your demonstration of learning’s.
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Make sure you state the number of words you have used.
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Use of theory and models
– you should avoid discursive answers with no evidence of underpinning theory and concepts. Demonstrate your learning’s by engaging with related theory and concepts – based upon contextual evidence from the case.
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This guide contains notes on common mistakes made in the application of models.
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Use the Harvard referencing system
– avoiding the use of footnotes.
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When using models there is not much to be gained by simply drawing a diagram of say for example of a five forces model. Far better here to use the diagram in the context of the case
– thus using it to inform the body of your argument/answer/analysis and make sure the same is rigorous i.e. based upon proper use criteria for such an analysis (as identified in the core text etc)
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It is very important when using diagram to draw on key points/findings/conclusions in the body of your answer. No marks can be awarded for such efforts if they are not used to inform the body of your answers.
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Use of theory/models – revisit your lecture/tutorial notes and website etc for examples/prior learning’s - before applying these to the final assessment case.
Again engage the literature
– no better still get married to it!
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Proof read you answers before submission and keep both a hard copy and an electronic copy – every year we get emails from students who have unintentionally submitted a draft answer!
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Every year some student somewhere will have a non recoverable catastrophe with their PC and not be able to recover their work. Do not let this happen to you
– keep a back up!.
Note these are not meant to be prescriptive, but are intended to suggest theory/concepts to inform your analysis and decision making.
You should avoid discursive answers which do not engage with relavent theory and concepts
– rember you will be assessed against the module learning outcomes!
Assignment Part 1 (40 Marks). Initial strategic position and intentions: This section of your assignment must contain the following:
1. An initial detailed analysis of your overall external and internal initial situation including competitor analysis to identify and inform your overall strategies.
You should any apply theory/models as appropriate to this external internal analysis.
Use tools such as PESTEL, 5Forces, CSF’S, Strategic Groups/Sectors (existing and new targets) – Chapter 2 of ECS and Chapter 3 re internal audits (resources, financial, plant, people (theory: Core competences. Unique Resources
– poss. relate also to Value Chain/Network (but not a full VC analysis!)
2. Your Intended Strategic Direction for the next 5 to 6 simulated years or decision periods including: a. Mission/Vision Statements. Relate answer to the literatre/readings. e.g.
Strategist Chp5 and Exploring Strategy.
Overall Target Markets and Strategic Rationale. ECS Chapters on
Business Level Strategy (Chp6), Corporate Level Chp7
– corporate rationale, BCG etc. What Basis of competition, What Directions
(Ansoff/Grand Strategy Matrix) and How? (BB Week 10 download).
In terms of overall strategic direction and strategy evaluation relate to week
11 of the lecture/related readings e.g. a score for each option against your strategic objectives or some elements only of the SAFe evaluation criteria
(Chapter 10 of Johnson, Scholes and Whittington, 2008)
– but we would not expect you to attempt NPV, DCF etc
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c.
see Blackboard under week 5 for guidelines on
Financial analysis and an example spreadsheet with graphs). (develop from your presented powerpoint template)
Assignment Part 2. Strategy Development and Progress against the plan over the
5 simulated years:
1. Your teams Functional Level Strategies per decision period and which can include: a. Technology/R&D (new product development, technological capabilities/competences) b. Operations (capacity, production & inventory) c. Marketing (4P’s) d. Financial (does your team have the funds for chosen investments?) e. Human Resources (is your team operating effectively?)
Review trends/changes over the period – consider graphs on key data (target say against actual) to inform your discussions. Simply pasting in given EMC report will not be sufficient. .
Relate to concepts given above in part one. i.e. to changes in 5 Forces
(competition), PESTEL/CSF’s and moves into new strategic groups/segments and you companies internal position (resources) . On target? Any Strategic Drift?
Changes in Objectives/Strategic Directions/Strategies?
Do give a rationale for your decisions .i.e what infuenced your decisions (internal, external factors). Summaries of decisions made per period can usiefully be put into a table.
“You must clearly and a properly referenced and evidenced way, develop your answers to this section in a way which relates to your overall mission and strategic & financial objectives and which clearly relates to the concepts and models used as a strategist in the management of your organisation. You must provide a clear rational for your strategic decisions each period (for example based upon changes in the macro environment, key drivers, the “Five Forces”, the competition and importantly changes to your internal resources and competences)”
Assignment Part 3. Final Report – A Reflective Portfolio (25 Marks)
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The objective of this part of the assignment is to reflect upon your learning experience and to conclude upon the competitive position of your firm at the end of the simulation run of 5 years and also to outline the key strategic actions necessary for your teams firm to achieve sustainable competitive advantage (SCA) for the future.
Organise the final section of your report as follows:
1
Description of your company’s successes and failures and your learning’s in implementing your strategy against your set mission/vision and plans as given in part one of your report.
Again relate to appropriate theory from above and possibly consider the strategy lenses, strategic gaps? Re EVR,
2 Include in your final report your reflections on this learning exercise. Refer to your module work book re the adapted reflective learning cycle by Race
(1999) as set against the modules learning outcomes (see page 5 herein).
Past examples of relective portfolio sections will be included on Blackboard.
3
Provide a brief outline, based on your company’s “end game” position, your strategic recommendations for the next five years for your EMC company.
Consider for example a short re-visit of a new mission, vision and objectives
Use of in-built simulation and other strategic reports.
You can include appropriate and relevant period reports (in the body of your report and/or in the appendices), including environmental, competitor & consumer changes. However just copying in given reports will not give you any marks, however using this data to input in to appropriate strategic modules is expected. Using these data to generate appropriate trends of key variables can be helpful in supporting you explanation of your actual (simulated) strategic performance against targets over the 5 year period.
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As part of helping to prepare for your assignment you will be taking on the role of assessor and will be marking a couple of past assignments on the simulation, but not these are based on a group based assessment and yours is INDIVIDUAL!
So review the two past examples upon Blackboard under the simulation link. You will be assessing these samples against the learning outcomes for this module. What were the weaknesses and strengths of each and how can you improve upon these examples?
1. In tackling a strategy case it is better to start off by reading through the set questions! Then decide what theory/models best fits all questions and structure your approach taking into account the points listed above and lea rning’s from the)
2. I always read through the case quickly the first time and then in more depth as I develop structures and answers to each question
– you have all had plenty of experience here and no doubt have your own preferred style. Draw on evidence to support analysis/argument – this can be data – quotations etc.
3. To save words you could use (CSP25) to refer to case study page 25. However if using such a scheme make it very clear what the abbreviations stand for!
4. Make sure you are very clear on the instructions, which accompany the case, the date for submission, submission locations etc.
5. You may find it useful initially to first read the questions and then quickly read the case to get the general gist of the material and perhaps start to take a few notes of its structure and general content.
6. As mentioned above I find it is best to then read through the material a second time, but this time more thoroughly and slowly taking notes along the way. Don’t be afraid to make notes on the case itself! And make sure you read through thoroughly - and then read it again!.
7. Whilst reading, reflecting and referring back to the case do likewise with the questions to make sure your answers as they are developed are consistent with the questions. It is very easy to get caught up “intuitively” in a case situation and forget that the point of the exercise is to demonstrate your knowledge, understanding and application skills etc in this subject area for assessment purposes. Creativity and intuition are very important in strategic management, but do not forget the academic underpinnings - avoid just writing about what happened and without relating to appropriate theory .
8. In the same way that we all learn in different ways there is no precise way in which we can prescribe The best and only way to tackle an assignment on
Strategic Management (or for that matter on any final year Assignment!).
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However do relate and demonstrate your answers to the learning outcomes for the module and those set out for each lecture
9. Positioning. In answering the questions you might wish to position yourself from the grand perspective as the retained Strategic Management Consultant or as an executive running EMC - rather than looking at the case situation as just another piece of academic work. Remember that the field of Strategic Management is, from a business situation “all embracing” and that your learning’s from other modules may be drawn upon as appropriate to the case questions. However do not forget detail evidence from the EMC case and the academic literature on this subject will be very important in support of your answers.
10. Again make sure you are clear on the precise expectations from each question and be as concise and consistent as possible in developing your answers to these questions.
11. In answering each question use the opportunity to demonstrate your readings and learning’s, drawing on academic underpinnings by bringing in and referring to theory/models and frameworks in an appropriate manner and which is consistent with evidence related to the case situation.
12. Whilst the submission may not be until January do not leave it too late to get into the work. The more time you have to reflect research and structure your assignment the better will be the end result.
13. The approaches in you work should reflect the
“strategy process” and the three parts of the assignment should link in an integrative way
14. Do not be afraid to make assumptions – but make any assumptions clear!
1. In addition to the core text (Johnson, Scholes and Whittington (2009) Exploring
Corporate Strategy, there is a wealth of text books in the library on Strategic
Management as well as on line journals and el ectronic (“ebooks”) available from the Library. See the modules Blackb Board site.
2. Many academic text books on strategy give examples on how to apply particular models. For example the text by Haberberg & Rieple The Strategic Management of Organisations
Prentice Hall (2001), also offers some do’s and don’ts in applying a range of theories/models etc.
3. Refer to the module guide for recommended additional reading in terms of text books journals and on-line resources and of course to your lecture notes and also further readings in the core text .
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4. You may also find the “Strategist” downloads helpful via the modules Blackboard site will provide supporting readings on the strategic business environment, strategic resources, Vision & Mission, and Strategy Development (week 10).
5. Make use of The Universities Library Lending and Resource Services.
Related Revision Readings from Exploring Corporate Strategy
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Chapter 2 External position, Chapter 3 Internal position
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Chapter 4 Mission/Objectives
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Chapter 6 Business Level Strategies – what Basis for strategy? (Strategy
Clock/Generic Strategies at the SBU Level)
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Chapter 7 Corporate Level Strategies – What Businesses are or shall we be in? –
Corporate Parenting/Portfolio tools (BCG – compare against competitors to inform choices?)
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Chapter 10 TOWS matrix from the SWOT/ANSOFF Matrix (directions for development) How to get there – Organic Growth/Mergers & Acquisitions/
Alliancing
1. In addition to applying appropriate mod els etc “off the shelf” you may wish to reflect on the potential limitations of their applicability to a real business case situation also any possible data limitations.
2. Creditable critique on various models, frameworks is found in many texts on strategy.
3. Often we have to be able to synthesise data, to extrapolate and infer from partial knowledge. This is a requirement of practicing strategists – the simulation case assignment gives you the opportunity to demonstrate you abilities to do likewise, but attempt to make clear any assumptions you have made.
In the same way that you would be expected to prepare a report in industry your assignment, as a piece of academic work, needs to be a coherent, demonstration of your report writing skills with accurate spelling and good grammar. Your word processor supports spell checkers as well as grammar checkers. One of the learning outcomes you will be assessed against is “communications”!
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Make sure that you apply the correct tools, models etc in an appropriate way to the task in hand and as mentioned don’t be afraid to offer appropriate critique of these and any theoretical relevant frameworks/paradigms which you decide to use in answering specific questions.
When using models etc refer to the authors who came up with them and if using diagrams make sure you label them up correctly!
It is important to make sure your apply the right tools in sufficient depth rather than to attempt to apply too many, or inappropriate ones, in a shallow or diluted way.
Draw salient conclusions from their use and do avoid simply producing long lists.
Be consistent with the material/evidence in the case assignment when using them. For example if the power of suppliers is overall low do not get confused and position your answer as the firm buying off the suppliers! (E.g. low supplier power = high power over the suppliers by the case industry competitors!)
The tools/models covered in the module are included for a very important reason. They are there to help you to make some kind of sense of the massive amount of information relating to the organisation under study, its industry/sector and the wider environment.
At the very least strategic concepts tools/models help us to structure our thinking into manageable ‘chunks’.
The whole point of the analysis stage of strategy is to come determine an organisations strategic position and its strategic capabilities. By developing meaningful conclusions as to the competitive position of the organisation we can determine the opportunities and threats it faces.
The marks for the analysis stage of any assessment will come from not only applying the tools/models correctly, and in sufficient depth to be meaningful, but also from the quality of conclusions at each stage and by integrating or linking findings together to provide an overall picture.
Do not make the mistake of thinking that you can complete the assessment without applying the strategic tools/models covered on the module. We do not go through the trouble of providing detailed handouts that include tools/models, or spending several hours a week applying them in tutorials/seminars, if we are not expecting you to use them in the assessment. It’s no good thinking that you can reach a conclusion without applying the tools and models
– we want you to use them! However, we want you to use them properly. You must apply them to the case not just describe how they should be used.
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‘The last major aspect of resource analysis is the identification of key issues arising from previous analyses. It is only at this stage of the analysis that a sensible assessment can be made of the major strengths and weaknesses of an organisation and their strategic importance. The analysis then starts to be useful as a basis against which to judge future courses of action’
(Johnson & Scholes 2005).
A SWOT (strengths, weaknesses, opportunities and threats) analysis is only used to help summarise the key issues arising from the analysis of the external business environment and the internal environmental (resources and stakeholder power etc). The aim is to identify whether the current strategy of the organisation and its specific strengths and weaknesses are capable of dealing with the changes taking place in the business environment. It can also be used to assess whether there are opportunities to exploit further the unique resources and core competences.
Tips on how to carry out a SWOT Analysis
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Identify key changes in the organisation’s external environment - limit the list to seven or eight key points. This stage should generate ‘ opportunities
’ and ‘ threats
’
 Identify key changes in the organisation’s internal environment (analyses of resources and stakeholder power). This stage should generate organisation specific ‘ strengths ’ and ‘ weaknesses ’. Try to be as specific as possible, keep the list to about eight points.
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Keep it brief - a short list with each point well argued is more likely to be convincing.
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Relate strengths and weaknesses to industry critical factors for success (C SF’s).
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State strengths and weaknesses in competitive terms, e.g. to be better than the competition at something.
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Do not include every conceivable issue that you can think of.
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Do not include short bullet points with no explanations.
The SWOT can be developed into a TWOS matrix – see chapter 10 of the core text
Johnson, Scholes and Whittington (2009) Exploring Corporate Strategy.
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Some Possible Factors in a (summative) SWOT Analysis
– i.e. only after applying models/theory to give a structured internal and external appraisal of the firms strategic position.
Internal Environment
Strengths
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Market dominance
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Core strengths
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Economies of scale
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Low-cost position
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Leadership and management skills
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Financial and cash resources
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Manufacturing ability and age of equipment
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Innovation processes & results
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Reputation
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Differentiated products
Product or service quality
External Environment
Opportunities
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New markets and segments
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New products
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Diversification opportunities
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Market growth
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Competitor weakness
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Demographic and social change
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Change in political, economic environment
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New take-over or partnership opportunities
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Economic upturn
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International growth
Weaknesses
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Share weakness
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Few core strengths and low on key skills
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Old plant with higher costs than the competition
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Weak finances and poor cash flow
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Management skills and leadership lacking
Threats
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New market entrants
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Increased competition
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Increased pressure from customers & suppliers
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Substitutes
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Low market growth
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Economic cycle downturn
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Technological threat
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Change in political or economic environment
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Demographic change
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New international barriers to trade
(Adapted from ‘Corporate Strategy’ Lynch,2008)
Note: This is only a checklist . Not all of these factors will be relevant to every organisation/industry. Each of the points included in your SWOT will have to be explained and supported with evidence from the case study.
The SWOT factors identified from use of appropriate theory/concepts
1. External Environment - nature of the environment/PESTEL/Competitive Environment: the Five Forces/Industry Life Cycle/Strategic Groups /Sectors/CSF’s - map to the
Strategic Customer. (Exploring Corporate Strategy chapters 1 & 2)
2 . Internal Analysis : Resource Auditing – Tangibles/Intangibles/Financial tends &
Ratios/Competences/Value Chain/System/Linkages. (Chapter 3).
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3 . Expectations and Purpose . Chapter 4 of Exploring Corporate Chapter for
Vision/Mission/Objectives
–– also see Strategist Downloads on Blackboard and related wider literature.
10. DEVELOPING STRATEGIC YOUR OPTIONS
You have now completed both ‘external’ and ‘internal’ stages of environmental analysis.
Using the outcomes of the two analyses together with expectations and purposes, you should now be in a position to identify whether the organisation under investigation has a competitive advantage and what that competitive advantage is. This may come from one thing that the organisation does better than its competitors or it may be many areas linked together, e.g. procurement, operations, marketing, linkages to other organisations/SBU’s, etc.
Competitive advantage should be looked at in relation to the opportunities and threats emerging from the environment. In addition, a consideration of such issues as vision, innovation and technology is important. The organisation should now be in a position to focus on developing strategic options that are aimed at achie ving the organisation’s purpose as expressed through its mission and objectives.
Adapted from Johnson, Scholes and Whittington (2009)
“Exploring Corporate
Strategy”
SUMMATIVE SWOT
“TWOS MATRIX “– General Statements of strategies
What Basis
Which Direction How?
Bases of Choice
* Corporate purpose
* SBU level generic competitive advantages
* The role of the corporate parent
(Chapter 4/5/6 )
Alternative Directions
* Withdrawal
* Consolidation
* Market penetration
* Market Development
*Related Diversification
*Unrelated Diversification
*International Strategies
(Chapter 7)
Ansoff/GSM (on
Blackboard wk 10).
Alternative Methods
* Internal Development (the resource based view
Extending competences value chain reconfiguration)
* Acquisition
* Alliances /Joint
Development’s
(Chapter 10)
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