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MGMT 450501 Strategy amp Competitive Advantage LeBow College of Business Drexel University Spring 2011 Time 0600 pm 950 pm Wednesdays Dates March 29 2011 June 11 2011 Location MATHESON 308 Instructor SEAN M HACKE I I PhD URL wwwseanmhackettcom Office Academic Building Room 318 Office Hours Wednesdays 230 pm 400 pm ampany mutually convenient time by appointment amp any time by appointment1 EMail seanmhackettdrexeledu Office Tel 2158952875 Office Fax 2158952891 I COURSE DESCRIPTION Why are some firms more successful than others This is the fundamental question of strategy This course is a capstone course about strategy and managing for success In this course we will analyze the sources of competitive success among firms You will develop the knowledge and skills necessary to understand evaluate and craft strategies be it as a manager a management consultant or a business analyst Together we will tackle the complexity of analyzing competition and assessing strategies in this era of globalization changing firm boundaries and increasing uncertainty This four credit hour capstone course provides an integrative study of the functions and responsibilities of top management and the strategies that affect the character and success of the total enterprise It uses recommended readings and required case studies to develop the viewpoint of top management charged with responsibility for the enterprise as a whole The objective of the course is to develop your strategic thinking skills by learning the concepts models and tools of strategic analysis and then applying these to actual competitive situations Hopefully you will also build 1 your communication skills by learning to present ideas concisely and persuasively 2 your collaborative skills by drawing on everyone s knowledge and experience and 3 your relationship skills by learning to respect principled differences in opinions and priorities The tools and skills that you developed in this course will be vital to those pursuing careers as consultants and managers as well as to those pursuing careers in finance marketing or entrepreneurship A conceptual framework for the Strategic Management process in general is depicted in Figure 1 Students are welcome to drop by my office at any time but the courtesy of an email in advance that lets me know exactly when you would like to meet and the topic that you would like to discuss is not only professional it also helps me to be better prepared for our meeting In your email requesting an appointment to meet with me please be sure to 1 suggest dates and times to meet and 2 indicate your schedule for the days on which you would like to meet so that I can suggest alternatives if I am already booked at the time you request 3292011 1 Dust D External Analysis Threats Mission gt Objectives OPPOWmities D Strategic Choice gt Strategy Implementation D Competitive Advantage impact Measurable Business Strategies Organizational Structure Disadvantage None Speci c D Internal Analysis Cost Leadership Control Processes Temporary Positive Strengths Product Compensation Policy Sustained Negative Weaknesses Differentiation Parity Corporate Strategies Advantage Vertical Integration Temporary Strategic Alliances Sustained Diversi cation Mergers and Acquisitions Figure 1 Conceptual framework for the Strategic Management process in general The conceptual framework for Strategic Management from our recommended course textbook is depicted in Figure 2 THE FIRM THE Goas amp INDUSTRY IRlalues amp ENVIRONMENT esources Competitors Capabilities Customers Structure amp Suppliers Systems Figure 2 Conceptual framework from Grant39s Contemporary Strategy Analysis 7e ie the recommended course textbook II CLASS FORMAT The course is comprised of reading assignments case analysis writeups case discussions and presentations It is important that you participate in the discussion for each class III READINGS REQUIRED HBS Cases Available for Download httpllcbhbspharvardedulcblaccessl9068639 RECOMMENDED Contemporary Strategy Analysis TeXt Only Seventh Edition by Robert M Grant This course utilizes the teambased case method Figure 3 below depicts the prescribed method for approaching the assigned weekly cases in this course Meet and Lead Author emails a All teammates Lead Author Read the case discuss how to polished 90 complete respond with incorporates independently best write up rough draft by a pre valuable feedback changes and the case agreed deadline to the R by a pre agreed submits the final team for comment deadline document by the deadline Figure 3 Case Analysis Process 329201 1 2 DU6D IV GRADING The four components that make up student grades in this course are listed below in Table 1 Tab e 1 Grading Criteria Ltr Criterion I Points I z of Grade A Participation 10 Classes x 3 points each I 30 I 30 ES After class I will enter your participation grades into the Bb Vista online grade book using the following scale 0 Absent Zero Points 2 Present but no meaningful participation 2 Points 3 Meaningful contributions to class discussion 3 Points B Weekly Written Case Analysis Memo 9 x 445 4005 40 points eac 445 2 388 E 222 NOTES I Please use the outline specified in Appendix A to structure your memo I One person from your team should bring a hard copy to class and submit it at the beginning of class I I will return the graded case to the Team the following week I When I grade the Case Analysis Memo you will receive two grades The first grade is the grade that is recorded in my gradebook The second grade is the grade thatI would have given you if I was paying you with real money 0 It is important to me that you feel comfortable making mistakes while you are students Making big mistakes while you are a student is an opportunity to learn making big mistakes while you are employed can derail your career Accordingly I have developed this dual grading approach which allows me to provide you with valueadded constructive criticism when you do make mistakes while still preserving your ability to earn a good grade C Team Case Presentation 1 case per team x 10 10 10 points 10 Excellent Top Management Team Quality 8 Good Executive Quality 6 Satisfactory Middle Management Quality 4 Yikes Entry Level Quality 2 What Happened NOTES I During your presentation please observe the 102030 Rule 0 o more than 10 slides o The presentation should last no longer than 20 minutes 0 No font should be smaller than 30 point 0 Also No Reading ie Your presentation should demonstrate that you have practicedrehearsed your presentation I Each Team39s presentation will be followed by QampA The members of the audience will be playing the role of the Top Management Team tasked with deciding whether to accept your recommendation Their job is to use concepts from this course and arguments from their own case analysis to enthusiastically poke holes in your argument while remaining civil D Final Exam 20 20 o This is a short multiple choice online exam E Confidential Peer Evaluation Adjustments INSTRUCTOR39S INSTRUCTOR39S DISCRETION DISCRETION NOTES 0 Don t be a shirker TOTAL 10005 10000 o See Appendix F for team case assignments In the event of a small classroom population after each team has had an opportunity to present I will assign students to ad hoc presentation teams in the remaining sessions 3292011 puso Final course grades will be determined using the ranges given in Table 2 below Table 2 Converting from percentages to letter grades 3292011 4 Dust APPENDIX A REQUIRED FORMAT FOR WEEKLY CASE ANALYSIS MEMOS Beginning in Week 02 for each assigned case you are required to write a 1 2 page 12 point font sing le spaced case analysis memo I know that it can be difficult to remain within the confines of 2 pages however being able to drill down to the heart of the matter and make and defend good recommendations in an elegant and parsimonious manner is an essential skill for executives Indeed your ability to impose your will on the firm and influence its evolution over time will depend in part on your ability to analyze the firmenvironment and make recommendations around which everyone in the firm can rally The study questions for each case Appendix B should help guide your preparation for class discussion Your memo should reflect knowledge of the strategic management process and must conform to the following format I H H III 3292011 5 IdentifyDefine the Key IssuesSituation Analysis A Key issues that will impact the focal firm s ability to survive thrive and grow B Critical Success Factors then amp now Note Assume that you are the Chief Strategy Officer and you report to the president of the firm This means you do not need to summarize the history of the firm the president already knows it Rather your challenge is to explain to the boss what are the key issues that going forward might prevent the firm from growing and thriving In some cases you might want to touch upon the Critical Success Factors that worked in the past and explain why they are unlikely to be sufficient in the future If you spend too much time on the history of the firm I will write TMH Too Much History to let you know that you need to refocus your Section I efforts in future memos Mobilize Strategic Choices A Choice 1 1 Significance of Choice 1 2 Reason why Choice 1 may not be optimal B Choice 2 1 Significance of Choice 2 2 Reason why Choice 2 may not be optimal C Choice 3 1 Significance of Choice 3 2 Reason why Choice 3 may not be optimal Note Bosses like to have more than one choice and frequently firms have more than one option Please articulate more than one and up to three of the best available choices Note For some reason students frequently forget to include this section Recommend a Specific Strategic Choice amp Defend It By Explaining How it Will Enable A Firm to GrowlThrivelDevelop Competitive Advantage A Recommendation 1 Reason 1 2 Reason 2 3 Reason 3 4 RisksLimitations B Recapitulation of why this choice is the right recommendation Note Section III is the most important section of the memo You should be specific and logical and mindful of cause and effect in your reasoning For example recommending something because it will enable the firm to grow is good but nobody is going to pay you the big buck for recommending the obvious Alternatively recommending for example that the firm do X at a cost of Y and with an expected return of Z with risks M and N is likely to make your boss say Shazam You re getting a raise Note Not every case offers enough detail to make this kind of recommendation nuso APPENDIX B STUDY QUESTIONS FOR CASES Session 02 Study Questions for Apple Inc 2008 1 Historically what were Apple39s major competitive advantages 2 Analyze the competitive dynamics of the personal computer industry over time Hint A Five Forces Analysis would be one useful approach for addressing this section How have the dynamics of the PC industry changed 3 Has Jobs finally solved Apple39s long standing problems with respect to the Macintosh business 4 The iPod iTunes business has been a spectacular success Has Steve Jobs found a new formula to create sustainable competitive success for Apple 5 How would you assess Apple s initial strategy for the iPhone Why did Apple change so quickly to a different strategy Session 03 Study Questions for Nucor at a CrossRoads 1 Why has Nucor performed so well in the past 2 How attractive do the economics of thin slab casting look 3 Is thin slab casting likely to afford Nucor a sustainable competitive advantage in flat rolled products 4 How should Nucor think about the uncertainties surrounding thin slab casting What should it do Session 04 Study Questions for Saturn A Different Kind of Car Company 1 In 1994 Saturn has a competitive advantage in the sense that it has higher operating profitability than its rivals What is Saturn39s strategy for creating and capturing value 2 What are the greatest threats to Saturn What kinds of investments are necessary to assure that Saturn achieves acceptable profitability Session 05 Study Questions for Home Video Games Generation Seven 1 To what extent has the evolution of the industry followed the pattern predicted by the industry life cycle model At what stage of evolution is the industry today 2 What should Microsoft do What should Nintendo do What should Sony do Session 06 Study Questions for Kodak and the Digital Revolution A 1 Evaluate Kodak s strategy in traditional photography Why has the company been so successful throughout the history of the industry 2 Compare traditional photography to digital imaging What are the main structural differences Will digital imaging replace traditional imaging How have value creation and value appropriation changed in digital photography relative to traditional photography 3 Evaluate Kodak s response to Sony s introduction of the Mavica in 1981 Was it appropriate 4 How would you evaluate Fisher s attempt to transform Kodak Why did it fail 5 What is Kodak s current position in digital imaging Would Kodak s position be different had the company adopted a different digital imaging strategy in the eighties and nineties Evaluate Kodak s strategy from the mid 19805 onward 3292011 6 Dust Session 07 Study Questions for Cisco Systems Are You Ready A Responding to this question first as a customer then as an employee and finally as an investor which elements of Cisco s strategy are most critical to the company s success Why 2 How would you compare Cisco s operating strategy with that of Lucent Technologies or other successful firms you have examined Which have the greatest promise for meeting competitive demands of the twenty first century Why 3 What could go wrong here What if anything can Cisco s management do to guard against this happening 4 Would you recommend to Cisco s management that it purchase INS Why 5 What suggestions would you make to Cisco s management about ways of establishing a significant position in the telephone company market Session 08 Study Questions for The Walt Disney Company The Entertainment King 1 Why has Disney been successful for so long 2 What did Michael Eisner do to rejuvenate Disney Specifically how did he increase net income in his first four years 3 Has Disney diversified too far in recent years Session 09 BRL Hardy Globalizing an Australian Wine Company 1 How do you account for BRL Hardy s remarkable post merger success 2 What is the source of tension between Stephen Davies and Christopher Carson How effectively has Steve Millar handled their differences 3 Should Millar approve Carson s proposal to launch D Instinto Whywhy not 4 What recommendation would you make to the organization concerning the conflicting proposals for Kelly s Revenge and Banrock Station What would you decided to do as Carson As Millar Session 10 Study Questions for Hitting the Wall Nike and Labor Practices 3292011 1 Does Jeff Ballinger have a convincing argument about Nike Does Nike have a convincing response 2 How well has Nike handled the publicity surrounding its labor practices Could or should the company have done anything differently 3 What is a fair wage in Vietnam How should Nike think about it nuso Chapters 08 09 amp Vertical Integration amp the Scope of the Firm Diversification Entertainment Wine Company Home Product Number 96502 HBR Reprint amp Hitting the Wall Nike and Labor Practices case 329201 1 8 nus APPENDIX E UNIVERSITY POLICIES Academic Honesty In order to protect and maintain a superior learning environment at LeBow College of Business all students must review and adhere to Drexel University s Academic Honesty Policy For details see httpwwwdrexeledustudentlifestudenthandbookHandbookhtml see Code of Conduct under Judicial Affairs Forms of academic dishonesty include plagiarism fabrication cheating and academic misconduct Students are responsible for the authenticity of material submitted both for individual and group work The Hagerty Library offers a brief online tutorial for recognizing and avoiding plagiarism at htt wwwlibrar drexeledu resources tutorials la iarism la iarismhtml Special Needs The University is committed to equal opportunity for students with disabilities If you have a physical or learning disability you should ask the Office of Disability Services ODS httpwwwdrexeleduODS to identify you to the Instructor so that appropriate accommodations may be provided Personal Crises At some point in your time at the University you may find yourself facing a personal crisis or dealing with issues that feel overwhelming The Counseling Center can assist you with sorting things out and by suggesting strategies to ease to better understand or to resolve the situation You can walk in to the Counseling Center if you are in crisis and be seen immediately or you can schedule an appointment The Counseling Center httpWWWdrexeledugstudentlifegcthC Appointmenthtml 201 Creese Student Center provides free confidential counseling services provided by mental health professionals These services are available to all currently enrolled undergraduate and graduate students The Counseling Center is open Monday through Thursday 800 am until 600 pm Friday 800 am until 500 pm Students on co op can arrange for an evening appointment To make an appointment call 215 895 1415 e mail counselingdrexeledu or visit the Counseling Center 201 Creese Student Center In case of emergency contact the Counseling Center at 215 895 1415 for assistance For after hour emergencies you can contact the on call counselor at 215 416 3337 Please contact the Counseling Center for additional information or visit their website at httpwwwd rexeledugstudentlifegcthC Main html Addressing the Instructor You may address me as Dr Hackett or as Professor Hackett You may also address me by my given name Sean as long as you do so with respect However Mr Hackett will always be my father to avoid confusing me please refrain from addressing me as Mr Hackett Also please note that my last name has two t s one of which is silent you are free to choose which one is silent 3292011 9 Dust Appendix F TEAMS gtlt CASE PRESENTATIONS Red Orange Yellow Green Blue Indigo Purple 3292011 10 EURO Con dential Peer Evaluation Form This CONFIDENTIAL2 peer group evaluation form is provided to prevent shirking with regard to the preparation of the weekly case analysis memos Using a forced point scale that is the total must be 100 for 5 person teams 120 for 6 person teams and 140 for 7 erson teams lease assign points to each member of your group includin o f concerning how well each contributed and participated to the team39s success Please be candid If you have a conflict of interest please indicate it in t is orm For examp e i one of your teammates is also a member of your fraternitysorority varsity team roommate etc please disclose this information in this form After completing this form please save it using ltYOUR LAST NAMEdocgt as the file name and upload it to BB Vista To receive credit for this assignment you MUST THOUGHTFULLYAND HONESTLY explain your reasoning for assigning points the way you have in the box labeled Why Please note that evaluating colleagues is something that professionals dread doing so if this assignment makes you feel a little nervousqueasy then you are probably taking it seriously and doing it the right way Note Trading points in order to game t e systemquot is considered dishonest and may result in a referral to the Office of Judicial Affairs 100 or 120 or 140 Use the space on the next page to write comments about your team39s dynamics and performance over the course of the quarter 2 Confidential means that the information in this form is private and should not be shared with your classmates 3292011 11 EURO Discl 1 N U1 01 l 00 to 3292011 aimers amp Riders The instructor reserves the right to change any part of this syllabus at any time Late work will not be accepted If at any point in time you feel the need to be dishonest with the instructor please withdraw from the course When communicating by email you will make a very favorable impression if your messages are polite professional grammatically correct and free of spelling errors A favorable impression is a very good thing to make as it helps the instructor whenever he or she has to make a judgment callquot regarding a final grade in the course or whenever he is requested to write a letter of reference for potential employers andor graduate school programs If the instructor contacts you by email and you are the only recipient of the email ie the email is addressed to you rather than the entire class then you must send a reply to the instructor Think of this as a game of catch the instructor throws you the ball and you must throw it back This rule is firmly established within the rules of etiquette and excellence in business communications soon as teams are formed you are strongly encouraged to exchange contact information Additionally you will need to discuss each other s school and work schedule in order to identify if you are able to meet in person as a group or if you will need to work together virtually and asynchronously I want my students to make mistakes Making mistakes in a classroom creates an opportunity to learn Making mistakes in a corporate meeting room also creates an opportunity to learn but the consequences of making mistakes in a corporate setting visavis your career can be quite negative Except in extraordinary circumstances married couples siblings cousins etc will not be permitted to be on the same team In terms of temperament as long as students are learning and making honest mistakes which are great opportunities for learning the instructor has a very long fuse This means that in order for this instructor to become angry an individual would have to try very hard to make the instructor angry With this in mind if a student has a concern about any aspect of this course including the teaching methods employed the student should feel very safe scheduling an appointment to meet with the instructor and discuss that concern The student may not hear what he or she wants to hear from the instructor but his or her concerns will be treated with respect If I believe that you may be a danger to yourself your fellow students or to me I will refer you to the Counseling Center When a car is not running properly you take it to a mechanic and get it fixed When your mind is not running properly you take it to a specialist and get it fixed Thus if I tell you that you need to visit the Counseling Center before you come to class again this means that you should visit the Counseling Center asap speak to a counselor and if the counselor believes that you are fit for class you should tell that counselor that it is ok for himher to contact me and let me know that you are ready to return to class If the counselor believes that you need some time away from class in order to restore your mind then I think you should follow the counselor s advice If you are an international student please identify yourself as an international student to the instructor on the first day that you attend c ass If you are a student with documentation from the Office of Disability Services please present your documentation to the instructor by the second day that you attend class If x a not present documentation from the Office of Disabilitz Services glease understand that I cannot grovide sgecial accommodations for zou If you suffer from migraines panic attacks nervous typing tremors or a chronic medical condition I cannot make any special accommodations for you until you provide me with documentation from the Office of Disability Services This is a business course and the instructor runs it as if he were running a business Please be professional in all that you say think or o nuso N N N N N A N N 0 1 3292011 The MGMT 450 classroom is a computersmartphone free zone When class starts computerssmartphones need to be shut off You may however briefly use a laptop to get a presentation file or other assignment related to the course Students who use a computer during class earn Class Participation grade of COMPUTERSMARTPHONE This translates to zero points Blackberry phones are very handy tools However in my experience they frequently corrupt word documents rendering them unreadable on PCs Consequently documents sent to me Blackberry will be returned unopened and you will receive a zero for the assignment MS via If you use a MAC please be certain to save MS Word documents in doc or docx file formats If you do not do this I will not be able to open your file as it will appear on my PC as a dat file If you are uncertain of what is expected of you then ask If it is really important then do NOT ask via email instead request an appointment to meet with me and ask In person If you have concerns about one or more of your teammates it is better to schedule a meeting with me to discuss those concerns sooner rather than later If you choose to not bring the problem to my attention until the end of the quarter it is highly likely that I will not be able to help you to remedy the situation In the business world it is completely inappropriate to compare salaries with your colleagues Similarly in this course it is completely inappropriate to compare grades with your colleagues I will unilaterally deduct a minimum of 20 points from the final grade of anyone that I determine to be a shirker aka a freerider Shirkers who attempt to calculate their final grade on their own should as a general rule subtract a minimum of 20 points Determining exactly who is a shirker is solely my discretion If you feel uncomfortable with this policy particularly if you are a shirker and you are planning to protest your final grade you should either drop or withdraw from the course Sometimes students ask me if they are required to wear business attire when they give a presentation in MGMT 450 As someone w 0 only recently finished paying for his own education I am always mindful of the sacrifices that students make in order to pursue a university diploma And I never want to add to the financial burden associated with obtaining that goal So although I personally believe the studies that find good correlations between dressing for success and success in the business world the basis of competition in MGMT 450 is the strength of student ideas and efforts NOT the strength of their wardrobe Students may wear whatever they choose as long as their wardrobe choice is not morally offensive and does not distract from the primary goal of a good education for all course stakeholders If you are upset with your final grade in the course and you decide to approach your teammates and demand that they send you a copy of the confidential peer evaluation form that they submitted to me then please know that I reserve the right to retroactively assign you a failing grade for the course and I will not hesitate to exercise this right I have very good reasons for maintaining this policy feel free to ask me offline what led me to institute this policy Final grades are nonnegotiable This course is offered in the LeBow College of Business Civility decorum and careful attention to details are hallmarks of business professionals Consequently these behaviors are expected of all course stakeholders at all times Students have a right to fall this course The instructor sincerely hopes that students will not exercise that right but he does respect that ght nuso Name Name Name Name Name Name Name 3292011 Team Directory Use this form to record the contact information of your team members Insert your team name in the line above EMail EMail EMail EMail EMail EMail EMail TEL TEL TEL TEL TEL TEL TEL Duso