BUS482: Strategic Management and Consulting Fall 2013 Tuesdays and Thursdays Section A: 9:30AM – 10:50AM McIntyre 212 Section B: 12:30PM – 1:50PM McIntyre 320 Prof. Lynnette Claire McIntyre 108C, lclaire@pugetsound.edu, 253-879-3576 www.pugetsound.edu/faculty-pages/lclaire Office Hours: Tuesdays 11:00AM – 12:00PM, Wednesdays 10:00AM – 11:00AM and by appointment Resources: Strategic Management Course Pack: Selections from Strategic Management by Jay B. Barney and William S. Hesterly. Prentice Hall, 2006. Beyond Performance by Scott Keller and Colin Price. Wiley, 2011. Case Course Pack: Cases by various authors and publishers. Presentation Zen: Simple Ideas on Presentation Design and Delivery by Garr Reynolds. New Riders Press, 2008. (optional) http://moodle.pugetsound.edu Objectives: Learn how organizations can achieve a sustainable competitive advantage. Gain skills, knowledge and experience to help you transition to the working world. Achieving these objectives will: Integrate and enhance your previous business curriculum. Cultivate primary and secondary research skills. Enable you to analyze and develop strategies for organizations. Develop analytical and problem solving skills. Refine oral and written communication skills. Improve team participation and management skills. Prepare you for the working world. Course Overview: Analyzing an organization’s internal and external environments and making choices that attempt to bring a competitive advantage to the organization is called strategic management. This process uses tools and knowledge that you have gained in your business courses (including this one) to provide a distinct advantage to an organization. To learn tools and theories, we will use part of a textbook by Barney and Hesterly that approaches strategy from a resource-based view of the firm, Beyond Performance by Keller and Price, cases and additional readings. A consulting project with an organization in our community will provide you with the opportunity to apply and expand your knowledge, and build your confidence in the application of your business skills. This course also provides bridges to life after Puget Sound through professional development activities and readings. 1 BUS482: Strategic Management & Consulting, Fall 2013 Texts: Strategic Management Course Pack: Chapters 1 - 5 from Strategic Management by Barney and Hesterly. This book approaches strategic management from a strong theoretical base: the resource-based view of the firm. We will use this book to anchor our analysis of cases and client firms. Beyond Performance by Keller and Price. This publication utilizes data to help build stronger organizations for both current performance and long-term health. Case Course Pack. We will read, think about and discuss six cases; they will provide examples for us to explore course concepts in more depth. These cases also provide examples of the type of research you will need to do for your consulting project and a model for the case study you will write. Articles. Additional readings may be accessed through library databases and websites. See citations on Course Outline. Presentation Zen: Simple Ideas on Presentation Design and Delivery by Garr Reynolds. This recommended, though optional, text will improve your presentations significantly. If you plan to give many presentations during your lifetime, it will definitely be worth the cost. Graded Assignments: Consulting Project (450 points) Teams and projects will be assigned at the beginning of week two with input from you. All the projects involve helping local organizations with strategic management. The details of each project vary. You will work closely with the business owners/managers on this project. Confidentiality within our classroom community is required. You are expected to contact me as you need assistance. Twice during the term, you will submit individual reflections on the project as e-mail attachments. Your group will meet with me for the first group update. The second group update will be in written form. Each group will write a case study of their client organization. The case will be posted on Moodle and all students will read all cases. The case authors are responsible for leading group discussion on the day their case is discussed. The client report must be submitted to me for feedback before refining it for the client presentation. You will submit final individual reflections and peer evaluations. Projects will be graded holistically and criteria includes (but is not limited to) the quality and quantity of work, the presentation of the work to the client (written and oral), the case study and class discussion, the ability to work together as a team, the ability to work with the client, group updates, and individual reflections on the process. Peer evaluations, input from clients and professor observations may provide evidence that not all group members deserve the same grade for the project. A detailed rubric, update and reflection prompts, and peer evaluation forms are in a separate handout that is also posted on Moodle. The clients determine 10% of your grade. I share my grading standards with the clients. Here they are for you: A Exceeds expectations: Professional. Work worth paying for! B Meets expectations: What was expected from in a Puget Sound Senior Research Seminar. C Approaching expectations: There was value added, but not as much as expected. D/F Did not meet expectations: Possibly not worth the client’s time in meeting with students. Major errors. Inappropriate behavior. Poor to very bad. 2 BUS482: Strategic Management & Consulting, Fall 2013 Professionalism (160 points) Senior Seminar is a course—and a bridge to the professional world. Professionalism is an encompassing term that describes a standard of behavior and action that is admirable in a given profession. The Business Dictionary defines professionalism as “meticulous adherence to undeviating courtesy, honesty, and responsibility in one’s dealings with customers and associates, plus a level of excellence that goes over and above the commercial considerations and legal requirements.” Your current profession is that of a student. And you are quickly moving forward into a new profession. The Professionalism grade will be merited by how closely you adhere to the definition above. Some specific behaviors that contribute to professionalism include keeping commitments (being present and timely for class and meetings), being thoroughly prepared for class and meetings, actively listening, providing feedback, engaging in discussion in a manner that moves the conversation forward or expands it, inviting others into the conversation, and communicating appropriately. Case preparation assignments and quizzes (given as needed to incentivize/assess preparation) are also included in this grade. I try to observe your behaviors each day and make notes so that I may accurately assess you throughout the term. Professionalism is not only behavior but includes an attitude of respectfulness and honesty. Professional Development (90 points) You are expected to attend at least two professional meetings during the term; you may attend one networking event and one content-based event, or two content-based events. You will write a short report on each meeting. Please attend events that interest you. The meetings may be chosen from a list posted on a GoogleDoc or you are encouraged to find an event that interests you (please send me a short e-mail with a link to the event to ensure its suitability). Extra credit is possible for attending an extra meeting or having a follow-up meeting with someone you met at an event. You must complete one professional development report by October 17th; the other by November 26th. Each report is worth 35 points. By September 19th, you must submit a description of a job that you would like to obtain and a current resume and cover letter suitable for that position (20 points possible). Professional Development documents may be submitted electronically or in paper format. If submitted electronically, please use the naming convention 490yourlastname prof1.doc or “prof2” or “resume” or “cover.” Final Exam (100 points) A 15-minute oral exam will be conducted during finals week with me. You will receive three questions related to course concepts and materials. After 15-minutes of preparation, you will answer the questions; I will ask clarifying questions to assess your depth of understanding. Guidelines, sample questions and a schedule will be distributed November 26th. You may take your exam any day during finals week. Electronic Devices and Cell Phone Policy You are encouraged to take notes in whatever form is most useful to you. However, due to the distraction potential of electronic devices (laptops, tablets, smartphones, etc.) to you and to your classmates, if you use an electronic device in class, you will be expected to demonstrate that you are using it for legitimate class purposes on a regular basis. If you are using it to surf the web, check your e-mail, etc., you will be asked to leave the classroom and to not use your electronics in class in the future. 3 BUS482: Strategic Management & Consulting, Fall 2013 Please turn your phone off before entering the classroom. If there is a legitimate need for you to be available via phone, please talk to me before class starts. Texting in class is unacceptable. If you cannot resist the temptation of the phone, you need to check your phone in with me at the beginning of each class session. Grading: There are 800 points possible in this course. The distribution of points is as follows: Consulting Project Professionalism Professional Development Final Exam 450 points 160 points 90 points 100 points 800 points Grades will be assigned based on points earned. The standard 90% (A), 80% (B), 70% (C), 60% (D) and less (F) divisions will be used. Plus and minus grades will be earned by those in the top and bottom two percentiles. Prof. Claire’s mindset: A exceeds expectations, B meets expectations, C approaches expectations, D/F do not meet expectations. Integrity, honesty and respect are expected in this class. Please refer to the section on academic honesty in the Logger Academic Handbook (http://www.ups.edu/x4718.xml) for details. Accessibility and Accommodation If you have a physical, psychological, medical or learning disability that may impact your course work, please contact Peggy Perno, Director of the Office of Accessibility and Accommodations, 105 Howarth, 253.879.3395. She will determine with you what accommodations are necessary and appropriate. All information and documentation is confidential. Classroom Emergency Response Guidance Please review university emergency preparedness and response procedures posted at www.pugetsound.edu/emergency/. There is a link on the university home page. Familiarize yourself with hall exit doors and the designated gathering area for your class. If building evacuation becomes necessary (e.g. earthquake), meet your instructor at the designated gathering area so she can account for your presence. Then wait for further instructions. Do not return to the building or classroom until advised by a university emergency response representative. If confronted by an act of violence, be prepared to make quick decisions to protect your safety. Flee the area by running away from the source of danger if you can safely do so. If this is not possible, shelter in place by securing classroom or lab doors and windows, closing blinds, and turning off room lights. Stay low, away from doors and windows, and as close to the interior hallway walls as possible. Wait for further instructions. 4 BUS482: Strategic Management & Consulting, Fall 2013 Course Outline: This schedule is subject to change. Wk: Day 1: Tues Date 9/3 Topic Course introduction, Strategy 1: Thurs 9/5 Forming groups, Strategy, Case discussion **Reading: 2: Tues 9/10 **Reading: Objectives Provide course overview. Learn about consulting clients. Understand the strategic process. Get to know everyone in the class. Provide input for me to assign consulting project groups. Understand what you need to learn to develop strategies. Learn how to read a case. Apply strategic planning and management tools to an organization. Study Questions Important Notes* What do you value most in group members? What strengths and weaknesses do you bring to a team effort? Pay particular attention to “Building Team Performance” in the reading. What is a strategy? Why is it important? What is competitive advantage? How do you figure out what a firm does/does not do well? How do you learn about its environment? How can you best prepare for case discussion? Complete case preparation. NFTE case prep (P). Please make an extra effort to be in class today Syllabus (M) The Discipline of Team by Jon R. Katzenbach & Douglas K. Smith. Harvard Business Review, Jul/Aug 2005, 83:7/8, p.162-171 (L) Chapter 1 on strategy (SM) What is Strategy? By Michael E. Porter. Harvard Business Review, Nov/Dec 1996, 74:6, p.61-78 (L) Appendix on how to read cases (SM) NFTE case (C) Teams, Gain skills to be more effective in How do you speak with others? How do Develop team norms. Make contact with Communica- your consulting projects. you communicate in written form? How can your client; meet if possible. Do your tion, Create better working you improve? homework on the organization. Secret Feedback, relationships with client. Why do you think the “Principles of shop (if relevant). Consulting Create more effective teams. Conduct” in Masterful Consulting are or are Learn to give feedback. not important? What do you think is Get consulting assignment. important? Develop team norms. Consider how you best give/receive feedback. What team norms would you like to have? Masterful Consulting by Keith Merron. Consulting to Management, Jun 2005, 16:2, p.5-58 (M) The Art of Creating Smart Questions by Steven S. Benson, William J. Chandon & Gerald Nadler. Consulting to Management, Dec 2005, 16:4, p.19-23 (M) Delivering Coaching Feedback by Vivette Payne, Chapter 5 of Coaching for High Performance. 2007, p.79-95 (L) *Unless noted, assignment are due by the start of class. P = paper copy E = electronic copy Items in Garamond italics relate to the Timeline for the strategic consulting project. **Reading assignments should be completed before class on the date listed. SM = Strategic Management course packet BP = Beyond Performance C = case packet M = Moodle L = access through library databases W = access through website 5 BUS482: Strategic Management & Consulting, Fall 2013 Wk: Day 2: Tues Thurs 2: Thurs Date 9/1012 9/12 **Reading: 3: Tues 9/19 **Reading: 3: Thurs9/19Fri 20 4: Tues 9/24 **Reading: Objectives Study Questions Important Notes* Meet briefly with Dr. Claire Strategic process, Environment 9/17 **Reading: 3: Thurs Topic Thoroughly understand the Complete case preparation National Geographic case prep strategic planning process. (P). Gain a clear understanding of how internal and external environments impact strategy. Understand the difference between the internal, task & general environments. Building your Company’s Vision by James C. Collins and Jerry I. Porras. Harvard Business Review, Sep/Oct 1996, 74:5, p.65-77 (L) Are you Solving the Right Problem? By Dwayne Spradlin. Harvard Business Review, Sep 2012, 90:9, p.84-93 (L) National Geographic case (C) Internal and Understand the resource-based What are your client’s most valuable Meet with client. Clarify. Research external view of the firm. resources and capabilities? external and internal environments. environIdentify resources and apply Think about how the questions of the VRIO ments VRIO framework. framework (Table 3.1) may be applied to Learn what sorts of resources resources in your client firm. confer sustained competitive Why is the general environment important advantage. for strategy creation? Gain a better understanding of How does a Porter’s five forces analysis help Porter’s five forces. us make strategy? Chapter 2 on External Environment (SM) Chapter 3 on Internal Environment (SM) Research Learn how to find data from What do you need to learn? Due at 8am: Reflection1(E). which to build strategies. What sources are you finding helpful in Resume & cover letter (P). Learn how to fill data holes. learning about your client firm and its Gain skills to conduct primary environments? research. What are the pros and cons of various sources? How can you collect data most effectively and efficiently? Getting into your Competitor’s Head by Hugh Courtney, John T. Horn & Jayanti Kar. McKinsey Quarterly, 2009, 1, p.128-137 (L) Meet with Dr. C. for update 1 (bring written update). Internal and Improve your skills in analyzing Complete case preparation IMAX case prep (P). external the internal and external Research! Begin writing your case. environment environments. s, Research Gain ideas about research sources. IMAX case (C) *Unless noted, assignment are due by the start of class. P = paper copy E = electronic copy Items in Garamond italics relate to the Timeline for the strategic consulting project. **Reading assignments should be completed before class on the date listed. SM = Strategic Management course packet BP = Beyond Performance C = case packet M = Moodle L = access through library databases W = access through website 2 BUS482: Strategic Management & Consulting, Fall 2013 Wk: Day 4: Wed 4: Thurs Date 9/25 9pm 9/26 **Reading: 5: Tues Topic Presentations 10/1 **Reading: 5: Thurs 10/3 **Reading: 6: Tues 10/8 6: Thurs 10/10 7: Tues 10/15 7: Thurs 10/17 **Reading: 7: Thurs 10/17 8: Tues 10/22 Objectives Study Questions Learn to give better presentations. Case writing, Learn to write a short business What are the fundamental components of Presentations case. cases we’ve read? Learn to present more What are the best/worst presentations effectively. you’ve attended? Why? Identify the key issue(s) your team wants input on. Read at least three cases from previous seminars (M) View Presentation Zen: on reserve at the library or 9/25 at 9pm in Battin Lounge (see above) Internal and Understand how environments Complete case preparation. external impact strategy. environment, Refine your ability to do a SWOT SWOT analysis. Important Notes* Optional Presentation Zen viewing in Battin Lounge – w/snacks&drinks Make Green Delicious case prep (P). Research! Write your case. Prepare for class discussion. Ask for client feedback. Make Green Delicious case (C) Strategic Connect the analysis tools. Now that you’ve completed your strategic Each team brings two print copies analysis Learn how the tools lead to analyses, what does each tell you about of draft VRIO, Porters and SWOT (P). should lead strategy. appropriate strategies for your client? to strategy Understand how to make a How do the analyses combine to inform strategic choice. strategic choice? Bringing Science to the Art of Strategy by A.G. Lafley, Roger L. Martin, Jan W. Rivkin & Nicolaj Siggelkow. Harvard Business Review, Sep 2012, 90:9, p.56-66 (L) Class cases Learn about other projects. Case must be posted 48 hours Think critically. before class discussion. Provide constructive input for Research. Think. Write your case. colleagues. Prepare for class discussion. Provide and use feedback. Revise background sections. Develop range of solutions. For each day 10/8-10/17, read the two class-created cases (M) Professional Developmnt Fall Break Prof. Dev. Report 1 (P or E) Enjoy *Unless noted, assignment are due by the start of class. P = paper copy E = electronic copy Items in Garamond italics relate to the Timeline for the strategic consulting project. **Reading assignments should be completed before class on the date listed. SM = Strategic Management course packet BP = Beyond Performance C = case packet M = Moodle L = access through library databases W = access through website 3 BUS482: Strategic Management & Consulting, Fall 2013 Wk: Day 8: Thurs Date 10/24 **Reading: 9: Tues Topic Generic business level strategies 10/29 **Reading: 9: Thurs 10/31 **Reading: 10: Tues 11/5 **Reading: Objectives Study Questions Important Notes* Understand the difference What is a cost leadership strategy? What are Reflection 2 (E) between corporate level and its sources? Update 2 (E) business level strategies. What is a differentiation strategy? What are its Don’t let yourself relax too much! Jump Understand the three basic sources? back into work on the additional research business level strategies: cost What is a focus strategy? What are its and strategies as soon as fall break is over. leadership, differentiation and sources? focus. How might our class’ clients utilize each of the For each strategy, understand its strategies? sources, benefits and risks. Chapter 4 on Cost Leadership (SM) Chapter 5 on Differentiation (SM) Using Generic Strategies: Some Caveats by Lim Gaik Eng. Singapore Management Review, Jan 1994, 16:1, p.43-49 (L) Strategy Gain a better understanding of Complete case preparation. Novozymes case prep (P). the generic business level Develop a range of solutions. Seek strategies and how they are feedback from client. Prioritize. used. Novozymes case (C) Creating Understand the difference What is performance? Health? What is the performance between performance and difference? Why does each matter? and health health. Evaluate your client on the nine elements of Experience how research builds organizational health. credibility. Which archetype is your client? Internalize the elements of How are/could your client’s capabilities be organizational health. supported by the three systems? Understand what a mindset is, What is your client’s mindset? How does it why it’s important and how it need to change? How can you help? can be changed. Beyond Performance Introduction through Chapter 4 (BP) Execution, Understand how initiatives should How can firms effectively execute strategy? Assessment be balanced. Why is it difficult to execute strategy? Be able to use the levers of What levers do you have to influence influence. execution? Understand the change engine. How can you assess the change you’re Learn to measure impact. trying to make? Be able to use centered leadership. Beyond Performance Chapters 5-7 (BP) Develop execution plans. Schedule final presentation. Build on revised case to continue writing draft final report. *Unless noted, assignment are due by the start of class. P = paper copy E = electronic copy Items in Garamond italics relate to the Timeline for the strategic consulting project. **Reading assignments should be completed before class on the date listed. SM = Strategic Management course packet BP = Beyond Performance C = case packet M = Moodle L = access through library databases W = access through website 4 BUS482: Strategic Management & Consulting, Fall 2013 Wk: Day 10: Thurs Date 11/7 **Reading: 11: Tues 11/12 **Reading: 11: Thurs 11/14 **Reading: 12: Tues 11/19 **Reading: 12: Thurs 11/21 **Reading: Topic Objectives Study Questions Important Notes* Strategy Understand how to execute and Complete case preparation. KaBoom case prep (P). execution & assess a strategy effectively. assessment Using the Balanced Scorecard as a Strategic Management System by Robert S. Kaplan & David P. Norton. Harvard Business Review, Jul/Aug 2007, 85:7/8, p.150-161 (L) KaBoom case (C) Report Think critically about what you What does the client need to know? Refine execution plans. Develop writing, need to include in your client What do you need to demonstrate mastery assessment measures. Write draft final Presentareport. of for Dr. C.? report. tions Develop an outline for your client How can you best communicate in written report. form? Learn to make interesting, How can you make your communication of focused presentations. your findings and recommendations compelling? Five Quick Ways to Trim—and Improve—Business Writing by John Clayton. Harvard Management Update, Sep 2008, 13:9, p.3-5 (L) BUS482 Project Rubric in Strategic Consulting Project Guide (handed out in class and on Moodle) Strategic Learn other approaches to How can simple rules substitute for tools and strategy. strategy? approaches Practice with new tools such as What other models for strategy creation simple rules, McKinsey 7S and have you learned about? scenario planning. Strategy as Simple Rules by Kathleen M. Eisenhardt & Donald N. Sull. Harvard Business Review, Jan 2001, 79:1, p.106-116 (L) Adaptability: The New Competitive Advantage by Martin Reeves & Mike Deimler. Harvard Business Review, Jul/Aug 2011, 89:7//8, p.134-141 (L) Re-Thinking Evaluate your chosen strategy. How did your strategies fare in the tests? Draft report (E) Strategy Learn to approach strategy What new thinking is needed? Refine your final report. Plan your differently. What new conversations and exploration presentation are needed? Have you Tested your Strategy Lately? By Chris Bradley, Martin Hirt & Sven Smit. McKinsey Quarterly, 2011, 1, p.40-53 (L) How We Do It: Strategic Tests from Four Senior Executives by Raymond Gilmartin, David Speiser, Gail Musden & Jeffrey Elton. McKinsey Quarterly, 2011, 1, p.54-49 (L). Difficult Learn to communicate How do you act/react in stressful Discussions information that may not be conversations? what your client wants to hear. What is a stressful conversation you may Practice techniques. face in this class? Which techniques do you want to try? Taking the Stress Out of Stressful Conversations by Holly Weeks. Harvard Business Review, Jul/Aug 2001, 79:7, p.112-119 (L) *Unless noted, assignment are due by the start of class. P = paper copy E = electronic copy Items in Garamond italics relate to the Timeline for the strategic consulting project. **Reading assignments should be completed before class on the date listed. SM = Strategic Management course packet BP = Beyond Performance C = case packet M = Moodle L = access through library databases W = access through website 5 BUS482: Strategic Management & Consulting, Fall 2013 Wk: Day 13: Tues Date 11/26 Topic Leading strategic change **Reading: 13: Thurs 11/28 14: Tues 12/3 **Reading: 14: Thurs 12/5 **Reading: 15: Mon 15: Tues 12/9 12/10 15: Wed 15: Thurs & Fri Finals 12/11 12/1213 12/1620 Objectives Gain insight into how you could lead strategic change in an organization (as opposed to consulting). Integrate the performancehealth transformation model. Study Questions If you were suddenly CEO of your client organization, how would you lead change? How much of the model in exhibit 10.1 did you do in your project? Do you need to make changes? How does your client fare on the tests of transformational change? Important Notes* Prof Dev Report 2 (P/E) Final exam guidelines distributed. Refine your final report and presentation. Beyond Performance Chapters 8-10 (BP) Happy Thanksgiving! What role did your client CEO play? How Proofread your final report and might you help him/her take a leadership presentation. Present to client. role? What do you aspire to in leadership? What might your leadership journey look like? What challenges might you face in your first supervisory role? How Strategists Lead by Cynthia Montgomery. McKinsey Quarterly, 2012, 3, p.67-73 (L) Level 5 Leadership: The Triumph of Humility & Fierce Resolve by Jim Collins. Harvard Business Review, Jul/Aug 2005, 83:7/8, p.136-146 (L) Becoming the Boss by Linda A. Hill. Harvard Business Review, Jan 2007,85:1, p.48-56 (L) Leadership Discuss leaders who you want to What type of leader do you like to follow? follow & who you want to be as What type of leader do you aspire to be? a leader. Envision a path to your goals. In Praise of the Incomplete Leader by Deborah Ancona, Thomas W. Malone, Wanta J. Orlikowski & Peter M. Senge. Harvard Business Review, Feb 2007, 85:2, p.92-100 (L) Last day to present to client. Sharing your Share and learn about the Be prepared to share your project with your Last day of class. Work variety of strategic consulting classmates. projects you worked on this term. Electronic copy of final report due Reading Reading Period Period Final Exam Demonstrate mastery of the Schedule your final exam course concepts and material. individually on any day during the week. Leadership Discuss a leader’s role in strategy. Discuss the challenges of leadership positions. Evaluate Prof. Claire Final consulting report (P) is due at time of final presentation: One copy for Dr. C., one for the client. Electronic copy of report due by the last day of class. Final reflection (P) and peer eval (P/E) should be written no sooner than two days after your final presentation. They must be received by the end of finals week. *Unless noted, assignment are due by the start of class. P = paper copy E = electronic copy Items in Garamond italics relate to the Timeline for the strategic consulting project. **Reading assignments should be completed before class on the date listed. SM = Strategic Management course packet BP = Beyond Performance C = case packet M = Moodle L = access through library databases W = access through website 6