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 others 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

Welcome and Logistics

A little about me
I have an MBA and Ph.D. in I/O Psych
Consult in strategic planning and organizational
development
Like you, I am always balancing work, family and
school

FLEX Seminar: Wednesday 8-9 pm ET

EXCEPT Thursday, March 24th at 9:00 PM ET

Creating a Learning Environment

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

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

Textbook for Course

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

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, write a strategic plan

Writing Assignment

Focuses on reflection of learning

Expectations:

Use Grading Rubric

APA Style- what you can expect from me
USE and CITE references in all work
Discussions and assignments grades within 5 days

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

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

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

Unit 1 Feedback
Discussion was great.
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 2 Objectives
By the end of this unit, you will be able to:
Describe Strategic Management
Discuss how Strategic Management affects
business and the layman

Unit 2- To Do List
Read Chapter 1, 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. You may also use the
Library databases and the Internet as additional resources.
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, citations should use APA style, and it should beat least 2-3 pages.

Respond to the (2) Discussion questions by Saturday at 11:59 PM ET

2. Does the competition between various companies affect your daily life in any
way? Give an example that might apply. For example, consider how you recently chose
between two products or services offered by different companies. What factors made you
choose one over the other? How do the companies compete?

Grading: Unit 2 Assignment (1): Why is Strategy

Important to Business?
Content, Focus, Use of Text / Outside Sources (50%):
Response answers assignment question and covers questions or
issues thoroughly. 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, grammar, APA format (20%)
Clear sentences, concise, grammar strong, no errors, use of APA

What does strategic management

mean to you?

What is Strategic Management

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

(Pierce & Robinson, 2008)

Strategic Management Model

Steps in Strategic Management Process

1.

Formulate the companys

mission
2. Assess the external environment
competitive and general
contexts
3. Conduct an internal analysis
4. Analyze the companys options
by matching its resources with
the external environment
5. Identify the most desirable
options in light of the mission

6. Select a set of long-term

objectives and grand strategies
that will achieve the most
desirable options
7. Develop annual objectives and
short-term strategies that are
compatible with long-term
objectives and grand strategies
8. Implement the strategic choices
9. Evaluate the success of the
strategic process for future
decision making

Dimensions of Strategic Decisions

Strategic issues require topmanagement decisions
Strategic decisions overarch several
areas of a firms operations
Top management has the perspective
to understand their broad
implications
Top managers have the power to
authorize necessary resource
allocations

Dimensions of Strategic Decisions

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

Dimensions of Strategic Decisions

Strategic issues often affect the firms
long-term prosperity

Strategic decisions commit the firm for a long

time, typically 5 years; however the impact
lasts much longer
Once a firm has committed itself to a strategy,
its image and competitive advantages are
usually tied to that strategy
Firms become known for what they do and
where they compete. Shifting away from that
can jeopardize their previous gains

Dimensions of Strategic Decisions

Strategic issues are future-oriented
They are based on what managers forecast,
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 usually have
multifunctional or multi-business
consequences.
Strategic decisions have complex
implications for most areas of the firm
Decisions about customer mix,
competitive emphasis, or organizational
structure involve a number of the firms
SBUs, divisions, or program units

Dimensions of Strategic Decisions

Strategic issues require considering the
firms external environment
All businesses exist in an open system. 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

Three Levels of Strategy

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

Alternative Strategic Management

Structures

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

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

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

Formality in Strategic Management

Formality is the degree to which
participation, responsibility, authority,
and discretion in decision-making are
specified in strategic management

Forces Determining Formality

Organizational
Size
Predominant
Management
Styles
Complexity of
Environment
Production Process

Problems in the
Firm
Purpose of the
Planning System
Stage of Firms
Development

Three Modes of Formality

Entrepreneurial Mode most small firms
Planning Mode most large firms
Adaptive Mode most medium size firms

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 firms CEO plays a dominant
role in strategic planning
The CEOs principal duty is
giving long-term direction to
the firm
The CEO bears ultimate
responsibility for the firms
success and strategic success
CEOs are typically strongwilled,
company-oriented individuals

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 processa 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 companys objectives

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.

How does the mission, 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.

Internal Analysis & External Analysis:

Provide a brief background of this organization

including its products, services and customers.

Include the organizations strategic planning
model (including the history of successes and
failures associated with the process).
Mission Statement & Vision Statement:

Start with an executive summary of your strategic

plan.

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, their

ability to respond to internal and external
changes and challenges.

SWOT analysis of your plans 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).

You will have 3-4 goals for each year with 3-4
measurable objectives for each goal. Outline your goals

and objectives clearly and then provide a narrative

explanation for each.
Long Term Objectives:

Strategy Analysis and Choice:

Discuss the goals and implementation for the business

strategy. Include in this discussion the organizational

structure and the leadership and culture.

Critical Success Factors:

Choose the generic strategy and grand strategy. Then

chosen and discuss why you have chosen each and how

they will fit within the framework of the

organization.
Plan Goals and Implementation:

Designate the long term objectives in your strategic plan.

Describe the critical success factors.

Controls and Evaluation:

List and describe controls and evaluation methods.