MT 460: Management Policies

and Strategy
Instructor: Laurie Cure
Seminar 1 

Welcome and Introductions
• Introduce yourself by sharing what your most
excited about in beginning this course.

Seminar Ground Rules
• Use the private chat function to engage in individual
discussions
• Do not start side conversations
• Please do NOT interject “I agree” or “Good point”
as this clutters the seminar.
• Throughout the seminar, I will pause and open the
floor for questions. If you are able to hold questions
until that point, it is helpful.
• Please be active when your input is requested- we are
all learning from each other’s wisdom and expertise.

Seminar Objectives for Tonight
• Share expectations
• Discuss course content
• Review syllabus details
• Unit 1 Feedback
• Review Unit 2 assignments
• Discuss concepts in Unit 2: Strategic Management
• Discuss details of Final Assignment

D.Welcome and Logistics • A little about me ▫ I have an MBA and Ph. in I/O Psych ▫ Consult in strategic planning and organizational development ▫ Like you. family and school  • FLEX Seminar: Wednesday 8-9 pm ET ▫ EXCEPT Thursday. March 24th at 9:00 PM ET . I am always balancing work.

thought. race.Creating a Learning Environment • When everyone brings there expertise and wisdom to the classroom. experiences and perspectives. we can all benefit • Share stories and experiences in discussions and seminars that will help others learn. • Participate and communicate  . • Ensure you are respecting the diversity of the group: gender.

Course Objectives By the end of the term. you will be able to: • Describe the main components of the strategic management process • Perform a SWOT analysis • Explain how a company builds competitive advantage through an appropriate structure and control systems • Evaluate the results of a strategic plan .

Villanova University & Richard B. II.Textbook for Course • Title: Strategic Management Author(s): John A. Robinson. • eBook ▫ Go to the Doc Sharing and save and/or print book or relevant chapters . Pearce. Jr.

Grading • Discussions ▫ Each unit requires an initial discussion post + 2 responses • Assignments/Projects ▫ Case analysis are used where you become a key decision maker ▫ Follow the template in doc sharing • Final Project ▫ Due in Unit 9 ▫ Choose and research a company.what you can expect from me USE and CITE references in all work Discussions and assignments grades within 5 days . write a strategic plan • Writing Assignment ▫ Focuses on reflection of learning • Expectations: ▫ ▫ ▫ ▫ Use Grading Rubric APA Style.

Discussion Posts Rubric • Quality (40%) ▫ All assigned discussion questions were answered completely ▫ Posts were on topic and unique in content ▫ All posts demonstrated analysis of the topic • Participation Guidelines (30%) ▫ Posts made to each discussion question on at least 3 different days ▫ The original post to be no less than 100 words – (supports quality) ▫ Initial post no later than Saturday at 11:59 PM ET • Clarity and Organization of Writing (20%) of your post will be measured on the following criteria: ▫ Posts were organized and logical ▫ No spelling or grammatical errors ▫ References were used and cited properly • Professional & Netiquette (10%) in your post will be measured on the following criteria: ▫ Respect and consideration toward peers/instructors ▫ Appropriate language ▫ Professional use of abbreviations and acronyms .

Deadlines • DISCUSSION POSTS CANNOT BE ACCEPTED LATE • COMMUNICATION IS KEY ▫ Up to one week (1-7 calendar days) late = 20% deduction in points ▫ After one week (8-14 calendar days) late 30% deduction in points • No work will be accepted more than two (2) weeks after the due date • Notify your instructor by email when you have submitted late work .

giving the impression that it is the student's own work. papers. Whether a student copies verbatim or simply rephrases the ideas of another without properly acknowledging the source.Plagiarism Policy • Plagiarism: Using another person's words. plagiarism is the theft of someone else's ideas and work. pp etc.always give credit when using someone else’s thoughts or ideas (in posts. ideas.) . it is still plagiarism • Best way to avoid plagiarism is to CITE your REFERENCES • More details in your syllabus • Simple enough. or results without giving proper credit to that person.

What you can expect from me? • I am reasonable and supportive • I will respond to questions daily • Assignments and discussions grades within 5 days • I am available for appointments if necessary • I will bring my expertise to the class and facilitate your learning in a positive way • I will reach out if it appears your grades are falling .

▫ Answered ALL components of the question  • I tried to use week 1 to guide expectations and I responded to EVERY student during week 1. • I will generally allow discussion to be with the class responding to only 25% of students during any given week • Always use references in posts for maximum points • Continue deepening your ANALYSIS for maximum points • Ensure that your responses to others advances discussion .Unit 1 Feedback • Discussion was great.

you will be able to: ▫ Describe Strategic Management ▫ Discuss how Strategic Management affects business and the layman .Unit 2 Objectives • By the end of this unit.

What factors made you choose one over the other? How do the companies compete? .To Do List • Read Chapter 1. and it should beat least 2-3 pages. Does the competition between various companies affect your daily life in any way? Give an example that might apply. “Strategic Management” – download from doc sharing • Complete and upload your Assignment to the drop box ▫ Complete a short answer on the following question: Why is strategy important to business? ▫ Be sure to use your reading this week as a resource. • Respond to the (2) Discussion questions by Saturday at 11:59 PM ET 2. You may also use the Library databases and the Internet as additional resources. For example.Unit 2. citations should use APA style. consider how you recently chose between two products or services offered by different companies. ▫ TIP: Be sure to address the main components of the strategic management process for full credit  • Format: review syllabus for specifics ▫ Your project should be double-spaced.

no errors. use of APA . concise. grammar. Student uses text and other literature to support work • Analysis and Critical Thinking (30%): Exhibits strong higher-order thinking and analysis-evaluation and analysis critical • Writing Style. APA format (20%) Clear sentences. Focus. Use of Text / Outside Sources (50%): Response answers assignment question and covers questions or issues thoroughly. grammar strong.Grading: Unit 2 Assignment (1): Why is Strategy Important to Business? • Content.

What does strategic management mean to you? .

board of directors) • Provides a framework for managerial decisions • Reflects a company’s awareness of the main elements of competition • The Three Levels of Strategic Management model is a three level process involving corporate. business. 2008) . • (Pierce & Robinson. long-term. future-oriented plan & decision making • Requires executive office level leadership and participation (CEO. and functional-level planners.What is Strategic Management • The set of decisions and actions that result in formulation and implementation of plans designed to achieve a company’s objectives • Large-scale.

Strategic Management Model .

Steps in Strategic Management Process 1. Develop annual objectives and short-term strategies that are compatible with long-term objectives and grand strategies 8. Assess the external environment – competitive and general contexts 3. Select a set of long-term objectives and grand strategies that will achieve the most desirable options 7. Evaluate the success of the strategic process for future decision making . Implement the strategic choices 9. Formulate the company’s mission 2. Identify the most desirable options in light of the mission 6. Analyze the company’s options by matching its resources with the external environment 5. Conduct an internal analysis 4.

Dimensions of Strategic Decisions • Strategic issues require topmanagement decisions ▫ Strategic decisions overarch several areas of a firm’s operations ▫ Top management has the perspective to understand their broad implications ▫ Top managers have the power to authorize necessary resource allocations .

physical assets. achieving and maintaining customer satisfaction frequently involves commitment from every facet of the firm .Dimensions of Strategic Decisions • Strategic issues require large amounts of the firm’s resources ▫ They involve substantial allocations of people. and money ▫ Strategic decisions commit the firm to actions over an extended period ▫ In highly competitive firms.

Shifting away from that can jeopardize their previous gains . its image and competitive advantages are usually tied to that strategy ▫ Firms become known for what they do and where they compete. typically 5 years.Dimensions of Strategic Decisions • Strategic issues often affect the firm’s long-term prosperity ▫ Strategic decisions commit the firm for a long time. however the impact lasts much longer ▫ Once a firm has committed itself to a strategy.

rather than what they know ▫ Emphasis is on the development of solid projections that will enable a firm to seek the most promising strategic options ▫ A firm will succeed only if it takes a proactive (anticipatory) stance toward change .Dimensions of Strategic Decisions • Strategic issues are future-oriented ▫ They are based on what managers forecast.

Dimensions of Strategic Decisions • Strategic issues usually have multifunctional or multi-business consequences. or program units . ▫ Strategic decisions have complex implications for most areas of the firm ▫ Decisions about customer mix. divisions. or organizational structure involve a number of the firm’s SBUs. competitive emphasis.

They affect and are affected by external conditions that are largely beyond their control ▫ Successful positioning requires that strategic managers look beyond operations and consider what relevant others are likely to do .Dimensions of Strategic Decisions • Strategic issues require considering the firm’s external environment ▫ All businesses exist in an open system.

CEO & administration [Highest] • Business level: business and corporate managers [Middle] • Functional level: Product. and functional area managers [Lowest] .Three Levels of Strategy • Corporate level: board of directors. geographic.

Alternative Strategic Management Structures .

dividend policies. cost. sources of long-term financing. and priorities for growth .Characteristics of Strategic Management Decisions: Corporate • Often carry greater risk. and profit potential • Greater need for flexibility • Longer time horizons • Choice of businesses.

Characteristics of Strategic Management Decisions: Functional • Implement the overall strategy formulated at the corporate and business levels • Involve action-oriented and operational issues • Relatively short range and low risk • Modest costs: depend upon available resources • Relatively concrete and quantifiable .

risky. marketing segmentation.Characteristics of Strategic Management Decisions: Business • Help bridge decisions at the corporate and functional levels • Less costly. and potentially profitable than functional-level decisions • Include decisions on plant location. risky. and distribution . and potentially profitable than corporate-level decisions • More costly.

authority. and discretion in decision-making are specified in strategic management .Formality in Strategic Management • Formality is the degree to which participation. responsibility.

Forces Determining Formality • Organizational Size • Predominant Management Styles • Complexity of Environment • Production Process • Problems in the Firm • Purpose of the Planning System • Stage of Firm’s Development .

Three Modes of Formality • Entrepreneurial Mode – most small firms • Planning Mode – most large firms • Adaptive Mode – most medium size firms .

company-oriented individuals .Strategy Makers • Ideal strategic team includes decision makers from all three levels • Top managers must give final approval • Strategic decisions coincide with managers’ responsibilities • • • • THE CEO A firm’s CEO plays a dominant role in strategic planning The CEO’s principal duty is giving long-term direction to the firm The CEO bears ultimate responsibility for the firm’s success and strategic success CEOs are typically strongwilled.

Benefits of Strategic Management • Strategic management supports involvement in planning by all levels of management • Participative decision making offers benefits: ▫ ▫ ▫ ▫ ▫ Enhance ability to monitor and forecast Better alternatives created and decisions made Increased motivation through understanding Reduced gaps due to role clarification Decreased resistance to chang .

Risks of Strategic Management • Managers’ time away from other responsibilities • Unrealistic expectations promised by strategy formulators • Possible disappointment of participating subordinates if goal is not reached .

Strategic Management Process • Businesses vary in formulation and other processes • The basic components of the models used to analyze strategic management are similar • Strategic management is a process—a flow of information through interrelated stages of analysis toward the achievement of some goal .

The Nature and Value of Strategic Management • Strategic management: The set of decisions and actions that result in formulation and implementation of plans designed to achieve a company’s objectives .

Then chosen and discuss why you have chosen each and how they will fit within the framework of the organization. SWOT analysis of your plan’s focus area(s): ▫ Incorporation of the SWOT findings into clearly stated goals and objectives for a 3-5 year period focusing on your strategic plan area(s). Long Term Objectives: ▫ • Strategy Analysis and Choice: ▫ • Discuss the goals and implementation for the business strategy. Outline your goals and objectives clearly and then provide a narrative explanation for each. their ability to respond to internal and external changes and challenges. Include in this discussion the organizational structure and the leadership and culture. Plan Goals and Implementation: ▫ • Designate the long term objectives in your strategic plan. vision and values aid the organization in reaching its desired end state? Include the mission statement and vision statement and refer to it in your analysis. ▫ How does the mission. Company Background: ▫ • • Write an assessment of the organization including their ability to accomplish goals and objectives as set in their previous strategic plan(s) and. Critical Success Factors: ▫ • Choose the generic strategy and grand strategy. Mission Statement & Vision Statement: ▫ • Start with an executive summary of your strategic plan. Internal Analysis & External Analysis: ▫ • Provide a brief background of this organization including its products. ▫ You will have 3-4 goals for each year with 3-4 measurable objectives for each goal. ▫ Include the organization’s strategic planning model (including the history of successes and failures associated with the process).Final Project: Strategic Plan • • Choose a company and write a strategic plan for that organization Executive Summary: ▫ • ▫ Identify the organization that you have chosen for your strategic plan. services and customers. Controls and Evaluation: ▫ List and describe controls and evaluation methods. Describe the critical success factors. .