Welcome to MGT 6883

1. Welcome to MGT 6883 Jeff Stambaugh Dillard College of Business/Rm 257A jeff.stambaugh@mwsu.edu http://faculty.mwsu.edu/business/jeff.stambaugh Built by Stambaugh/2009

2. My BHAG* for This Course*Big Hairy Audacious Goal • You will consider this your most enjoyable course upon graduation, and five years from now you will consider it to have been your most valuable graduate course Built by Stambaugh/2009

3. Introductions • A little about me • PhD from Texas Tech • in strategy/entrepreneurship • BSAE from USAF Academy, • night-school masters, 1 yr Harvard fellowship • 24 years of flying jets and management positions • A little about you (my assumptions) • You’re busy • You’re interested in business Built by Stambaugh/2009

4. Brief Introductions • Name • Major • Expected Graduation • Job / Career / What’s next? • One “fun fact” about you Built by Stambaugh/2009

5. What is Strategy? • It’s multidisciplinary, integrative, and the “big picture”—all of your functional expertise comes into play manning • It’s the real world with real people (not bound by some of the assumptions in other disciplines) • Competition = disequilibrium! • It’s what separates winners and losers in the business world! Built by Stambaugh/2009

6. Why Study Strategy? • You will better understand how you fit into your company • Make you more effective in your job • Set you apart from your peers • Strategy can be a “bottom up” process • You may be the boss (and thus chief strategist) sooner than you think! • Strategic thinking is about life, not just business Now you understand why I’m so excited about this course, and why the BHAG is achievable Built by Stambaugh/2009

7. Course Takeaways • Appreciation of how a company fits together • Several frameworks to analyze what’s happening • Several options to fit situation • Executive skills to implement your decisions Built by Stambaugh/2009

8. Syllabus Review • Course web page / WebCT is vital • Communications—make sure I can email you • Course overview Built by Stambaugh/2009

9. Why the GLO-BUSSimulation? • “Hands-on” practice with implementing your strategy • Make your mistakes when it isn’t real money • Develop ability to learn and adjust Built by Stambaugh/2009

10. How We’ll Do This Class • Class is discussion, not lecture • Paradox: an argument that apparently derives self-contradictory conclusions by valid deduction from acceptable premises • DLE (pg 38, citing Hamel & Prahalad): every manager carries around in his or her head a set of biases, assumptions, and presuppositions … • We will challenge each of these biases, assumption and presuppositions!! Built by Stambaugh/2009

11. How We’ll Do This Class • U-571 • LT Tyler comes up with a plan Built by Stambaugh/2009

12. One Last Point • “Why are you here?” • So, why are you here? Built by Stambaugh/2009

13. My BHAG* for This Course*Big Hairy Audacious Goal • You will consider this your most enjoyable course upon graduation, and five years from now you will consider it to have been your most valuable undergraduate course Built by Stambaugh/2009

14. Next Class • What is Strategy • CH1 + Web, have a company’s annual report Built by Stambaugh/2009