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MGT 499 - Strategic Management

Learn the set of commitments, decisions, and actions required to achieve competitiveness and drive organizational success. Gain a big-picture perspective, problem-solving skills, and the ability to make strategic decisions.

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MGT 499 - Strategic Management

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  1. MGT 499 - Strategic Management Walter J. Ferrier, Ph.D. Office: 455X Tel: 257-9326 E-mail: wallyf@pop.uky.edu Web: www.uky.edu/~wallyf

  2. Comments from the Fortune 500 • Need to change culture … need big picture view • Keeping track of competitors / customers is everyone’s job • Cross-functional integration • Strategy • Problem-solving • Decision-making • Good ideas get killed on their way bubbling up … because they bubble straight up instead of circulating around first. (same with information flows)

  3. Course Perspective: A View from the Top Top Management • Functional Management • Marketing • Production • R&D • Logistics • Acct./Fin. Value-adding Activities

  4. Medium-Term Benefits Top Management You

  5. definition: Strategic Management -- The set of commitments, decisions, and actions required to achieve competitiveness.

  6. Strategic Management: Course Content • What is it? What do CEOs do? • Analysis of industries and competition • Business-level strategy: How to compete • Competitive dynamics: Head-to head rivalry • Corporate-level strategy: Managing the portfolio • Strategic management of the multinational firm

  7. MGT 499 and Your Personality? Need for Stability Thrive on Dynamism Management as “art” or “craft”. Management as “science”.

  8. Your Expectations • What do YOUwant out of this course? • Useful frameworks • General knowledge • Ability to integrate • “Big picture” perspective • ??? • What motivates YOU?

  9. Pedagogical Approach • Real-world business cases & current events • Textbook readings • Videos • Written and oral case report • Web-based strategy simulation • Class discussions/participation

  10. Grading

  11. Books and Readings • Strategic Thinking (De Kluyver) • CAPSTONE™ Subscription (...details later) • Johnny Print Case/Readings: Ryka, etc. • Harvard Business School (HBS) Case Packet: • IBP and Meat Industry • Cereal Industry • Airlines Industry in 1995 • Starbucks • Apple in 1999 • Red Hat - Linux • Webvan • Pennzoil • Monsanto: Age of Biotech • Monsanto: March into Biotech • DNA Plant Technology • How to fight a price war

  12. LISTSERV • Subscribe: 1. Send E-mail to: LISTSERV@lsv.uky.edu 2. Put the following text in the message body: subscribe MGT499DAY Hal Mumme 3. Reply to confirmation with ‘ok’ in body • Sending Mail: to: MGT499DAY@lsv.uky.edu • See instructions on MGT 499 web page

  13. No signature!!

  14. No signature!!

  15. Internet Resources • www.uky.edu/~wallyf • cbs.marketwatch.com • cnnfn.com • www.nyt.com • www.strategy-business.com • others

  16. Keys to Case Study • Issues and outlook: What’s the problem? • Information: What’s relevant? • Alternative solutions: What are the choices? • Decision criteria: How to decide? • Making the call: What is best solution? • Action plan: Steps for implementation? • Evaluation and impact: Will it work? * See sample case on course website

  17. Identification of key issues Significant analysis Logical synthesis of discussion points Identification of new alternatives Suggestion of plan of action Identification of key assumptions Meaningful summary “Open” a case Contribute to middle Linkage with text reading Summary, synthesis, resolution, or closure LISTSERV discussions Keys to Participation How . . . When . . .

  18. Evaluating Participation Quality of Comments + ++ - 0 Frequency and Volume of Comments

  19. Strategic Management in the News • Low price leader / Price cutting • Differentiated player / Unique product or marketing approach • Market pioneer / Innovator, first-mover / New products, etc. • M&A / Restructuring / Turnaround • Alliances / Joint ventures • New international markets / off shore production • New plants / equipment / efficiency processes

  20. Corporate Social Responsibility Project/Briefing • Influence of socio-political factors on strategy • Genetic engineering-based industries/firms • Napster • Firestone • Pharmaceutical industry/firms • Gun manufacturing industry/firms • Microsoft vs. Netscape • Tobacco industry/firms • Mitsubishi

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