MGT4380 Strategic Management Creating Competitive Advantages

MGT4380 Strategic ManagementCreating Competitive Advantages

IntroductionPrepared by Shawna Chen

STRATEGIC MANAGEMENT

What is strategy?

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DEFINITIONS

Strategy is the ideas, decisions, and actions that enable a firm to succeed.

MGT4380 Strategic ManagementShawna Chen

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TRANSLATION… PLEASE?

Strategy defines the boundary of what a company does and what it will and will not do.

What is the company’s core value?

MGT4380 Strategic ManagementShawna Chen

STRATEGIC MANAGEMENT

What is strategic management?

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DEFINITIONS

Strategic Management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.

MGT4380 Strategic ManagementShawna Chen

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TRANSLATION… PLEASE?

Strategic Management is the “big picture” idea of how to run a business

What determines the total performance? Why do some companies succeed while others fail? How can you (the managers) do about it?

MGT4380 Strategic ManagementShawna Chen

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THE GOLDEN TRIANGLE OF A GOOD STRATEGY

Execution

ChallengeResources

MGT4380 Strategic ManagementShawna Chen

External Analysis

Internal Analysis

Strategic Formulation & Implementation

STRATEGIC MANAGEMENT

Why study strategic management?

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COURSE DESCRITION

4380. Strategic Management (3).

Prerequisite: Business students in their final semester with a C or better in BLAW 3391, ISQS 3344, FIN 3320, MKT 3350, MGT 3370, and MGT 3373.

Strategy is an integrative course focusing on an organization’s pursuit of superior economic performance by deciding what business to be in and how to compete.

MGT4380 Strategic ManagementShawna Chen

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CONGRATULATIONS!

MGT4380 Strategic ManagementShawna Chen

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CONGRATULATIONS?

MGT4380 Strategic ManagementShawna Chen

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WHEN IN DOUBT… #WWHD

MGT4380 Strategic ManagementShawna Chen

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SO YOU’VE LEARNED…

MGT4380 Strategic ManagementShawna Chen

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IT’S TIME TO PIECE THEM TOGETHER

MGT4380 Strategic ManagementShawna Chen

Think BIG!

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COURSE DESCRITION (REVISED)

4380. Strategic Management (3).

Prerequisite: Business students in their final semester with a C or better in BLAW 3391, ISQS 3344, FIN 3320, MKT 3350, MGT 3370, and MGT 3373 to piece together the “big picture”.

Strategy is an integrative course focusing on an organization’s pursuit of superior economic as well as social and environmental performance by deciding what business to be in and how to compete in the real world.

MGT4380 Strategic ManagementShawna Chen

STRATEGIC MANAGEMENT

Learning Objectives

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COME UP WITH CREATIVE SOLUTIONS

MGT4380 Strategic ManagementShawna Chen

Bloom’s Taxonomy of Learning Domains

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REMEMBERING

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Read Ahead

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UNDERSTANDING

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Take Online Quiz before Class

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APPLYING

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Chapter Discussion

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ANALYZING

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Case Presentation

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EVALUATING & CREATING

MGT4380 Strategic ManagementShawna Chen

Final Project

STRATEGIC MANAGEMENT

Good Reads

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HBR’S 10 MUST READS ON STRATEGY

What is strategy? (1996) The five competitive forces that shape strategy (2008) Building your company’s vision (1996) Reinventing your business model (2008) Blue ocean strategy (2004) The secrets to successful strategy execution (2008) Using the balanced scorecard as a strategic management system

(2007) Transforming corner-office strategy into frontline action (2001) Turning great strategy into great performance (2005) Who has the D? How clear decision roles enhance organizational

performance (2006)

MGT4380 Strategic ManagementShawna Chen

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OTHER

Bloomberg Businessweek Inc. The Economist Entrepreneur Forbes Fortune McKinsey Quarterly MIT Sloan Management Review Harvard Business Review Knowledge@Wharton strategy+business Wall Street Journal Wired

MGT4380 Strategic ManagementShawna Chen