Lahore School of Economics Strategic Management (MGT-401) BBA-IV Course Outline Instructor: Anabia Jamshed Syllabus I: The Nature of Strategic Management II: The Business Vision and Mission III: The External Assessment IV: The Internal Assessment V: Strategies in Action VI: Strategy Analysis and Choice VII: Implementing Strategies: Management and Operations Issues VIII: Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues IX: Strategy Review, Evaluation, and Control Business strategy refers to the deliberate activities through which business goals are set and implemented. The most central goal of strategy is to differentiate the firm from its competitors in order to realize superior returns to the owners of a business. It may also be defined as: “…the art and science of continuously developing new advantages for the firm so that it effectively executes and competes within its chosen position in the market place and successfully achieves top management’s identified objectives, including that of creating value for all stakeholders in the firm.” However, it is important to realize that strategy is not only shaped by the underlying environmental conditions, such as technology and competition, but also the resources available to management, including the firm’s assets, structures, and competencies of its employees. This integration of the external and internal perspectives provides the basic framework for strategic thinking. This course is intended to give the students a holistic view of strategy formulation, content and implementation in firms. Moreover, they will be able to think beyond day-to-day business activities of firms; analyzing the strategic threats and opportunities of firms based on firms’ internal capabilities and external environments, including sustainability issues. Core Textbook: Fred R.David. Strategic Management. Twelfth Edition. India: Pearson Education, 2009. Recommended Reference Books and Journal Articles : Thomas L. Wheelen & J.David Hunger. Strategic Management Business Policy. Seventh Edition. USA: Prentice Hall, 1999. Dess, Lumpkin, Eisner. Strategic Management. Third Edition. USA: Ms Graw-Hill/Irwin, 2007. Michael A.Hitt, R.Duane Ireland. Strategic Management—Competitiveness and Globalization. Fourthth Edition. USA: South-Western College Publishing, 2001. Charles W.L.Hill, Gareth R.Jones. Strategic Management—An Integrated Approach. Fifth Edition. USA: Houghton Mifflin Company, 2001. Lloyd.L.Byars. Strategic Management—Formulation and Implementation—Concepts and Cases.Third Edition. USA:Harper Collins Publishers, 1991. Sameul C.Certo & J.Paul Peter. Strategic Management—Concepts and Applications. Second Edition. New York:Mc Graw-Hill International Edition, 1991. John A. Pearce II & Richard B.Robinson, Jr. Strategic Management—Strategy Formulation&Implementation. Second Edition. USA:Irwin Inc, 1985. Harvard Business School Review. Strategic Planning Comes of Age. Boston:Harvard University Office of the University Publisher , 1985. Craig W.Kirkwood. Strategic Decision Making. USA:Duxbury Press, 1997. James E.Austin & Tomaso.Kohn. Strategic Management in Developing Countries, Case Studies. New York:The Free Press, 1990. Comerford/Callaghan. Strategic Management—Text, Tools and Cases for Business Policy. Massachusetts: Kent Publishing Company, 1985. Robert S.Kaplan & David P. Norton. The Strategy Focused Organization—How Balanced Scorecard Companies thrive in the New Business Environment. Boston:Harvard Business School Press, 2001. Azhar Kazmi. Business Policy and Strategic Management. Second Edition. New Delhi:Mc Graw –Hill Publishing Company, 2002. Paul. W.Beamish. Asia-Pacific Cases in Strategic Management. Singapore: Irwin Mc GrawHill, 2000. BPP Learning Media. Business Strategy. India:Viva Books Private Limited, 2010. Grant, R.M (2003), Strategic Planning in a Turbulent Environment: Evidence from the Oil Majors. Strategic Management Journal, 24:491-517.doi: 10.1002/smj.314 J.Robert Mitchell, Dean A.Shepherd, Mark P.Sharfman (2010), Erratic Strategic Decisions: When and Why Managers are inconsistent in Strategic Decision Making. Strategic Management Journal, DOI: 10.1002/smj.905 Holcomb, T.R, Holmes Jr.R.M, Connelly, B.L. (2009), Making the most of what you have: Managerial Ability as a Source of Resource Value Creation. Strategic Management Journal, 30: 457-485.DOI:10.1002/smj.747 Mathew S.Kraatz and Edward J.Zajac (2001), How Organizational Resources affect Strategic Change and Performance in Turbulent Environments: Theory and Evidence. Organization Science, Vol.12, No.5: 632-657. INFORMS[http://www.jstor.org/stable/3086005] William Boulding, Marian Moore, Richard Staelin, Kim Korfman, Peter Dickson, Sunil Gupta, Donald Leh mann (1994), Understanding Manager’s strategic Decision-Making Process. Marketing Letters, Vol.5, No.4, Duke Special issue:413-426. Springer [http://www.jstor.org/stable/40216360] Esteban R.Brenes, Maurico Mena and German E.Molina (2008), Key Success Factors for Strategy Implementation in Latin America: Journal of Business Research, Vol 61, Issue 6: 590-598. DOI: 10.1016/j.jbusres.2007.06.033 Bert Pie and Henk Ritsema (1993) Corporate Strategy: Implementation and Control. European Management Journal, Vol 11, Issue 1: 122-131. DOI: 10.1016/0263-2373(93)900 33-E Lawrence G.HRE BINIAK (2006) Obstacles to Effective Strategy Implementation. Organizational Dynamics, Vol 35, Issue 1: 12-31.DOI: 10.1016/j.orgdyn.2005.12.001 Strategic Management Lecture No. Lecture 1 Week # 1 Lecture 2 Lecture 3 2 3 4 5 6 7 8 9 10 Quiz-3 and Short Discussion Case-3 31st october Long Case Presentation Discussions (Class Participation) Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues 11 Lecture 22 Lecture 23 Strategy Analysis and Choice 24th oct Implementing Strategies: Management and Operations Issues Lecture 20 Lecture 21 Strategies in Action Strategy Analysis and Choice in the context of the Strategy Diamond Framework Lecture 18 Lecture 19 10th oct Exam (midterm) Lecture 16 Lecture 17 Long Case Presentation-1 Quiz-2 and Short Discussion Case-2 Lecture 14 Lecture 15 Strategies in Action Long Case Presentation-1 Lecture 12 Lecture 13 The Internal Assessment The Internal Assessment Lecture 10 Lecture 11 The External Assessment and SWOT matrix Quiz I and Short Discussion Case-1 Lecture 8 Lecture 9 The Business Vision and Mission The External Assessment Lecture 6 Lecture 7 Course Overview The Nature of Strategic Management Lecture 4 Lecture 5 Topic Quiz IV and Short Discussion Case-4 14th nov Strategy Review, Evaluation, and Control 12 Long Case Presentations-2 21st nov Lecture 24 Lecture 25 Long Case Presentations-2 13 Lecture 26 Lecture 27 14 Lecture 28 Assessment Criteria Class Participation Quizzes Short Cases 2-Long Case Presentations Final Presentation Midterm Exam Final Exam 23rd nov Final Term Project Presentations 28th nov Final Term Project Presentations 30th nov Final Term Project Presentations-----date to be assigned Exam (Final Exam) 5% 10% 5% 10% 15% 20% 35% Note: There will be a deduction of 1% from the overall final grade, for every session missed after five absences.