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MAN 4720: Strategic Management (The Capstone Course). Dr. Marshall Schminke Spring, 2011. These slides are intended to be a supplement to your class notes, not a replacement for them. For specific references, etc., see me. Capstone Week 1:. Lecture

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man 4720 strategic management the capstone course

MAN 4720: Strategic Management (The Capstone Course)

Dr. Marshall Schminke

Spring, 2011

These slides are intended to be a supplement to your class notes, not a replacement for them.

For specific references, etc., see me.

capstone week 1
Capstone Week 1:
  • Lecture
    • Introduction to the course & strategic process
    • Introduction to the Capstone team
    • A brief tour of the syllabus
    • Q: Why are we here?
  • Labs
    • Introduction to the lab groups
    • Begin to form teams
    • Better understanding of coming attractions
next week
NEXT week:
  • No Lecture (MLK)
    • Yes, labs (except Monday labs)
    • Next time: Mission and strategy
  • Labs
    • Finalize team formation
    • Q&A regarding projects
    • Hands-on exercises related to strategy
    • How to find information
introduction to the team
Introduction to the team:
  • Clearly, the best team ever assembled for the Capstone course
  • Maybe I’m a little biased?
  • Brief introductions
capstone across the region
Capstone across the region:
  • Welcome to those of you at the regional campuses:
  • Cocoa
  • Daytona
  • Metro West
  • Osceola
  • Palm Bay
  • Sanford/Lake Mary
  • South Lake
the syllabus
The syllabus:
  • Available at http://www.bus.ucf.edu/capstone/spring
  • Click on syllabus
  • For now, a quick tour
  • My faculty website:
    • http://web.bus.ucf.edu/faculty/mschminke
why are some companies sustainably better than others
Why are some companies sustainably better than others?
  • According to what you’ve learned in some other classes, that shouldn’t happen
    • We can buy their talent
    • We can study their processes
    • We can hire their experts
  • But it does
why are some companies sustainably better than others9
Why are some companies sustainably better than others?
  • It’s not just having a better product
    • History is full of better products that died
  • And it’s not just luck
    • Luck isn’t sustainable, long term
  • Then what is it? How can this happen?
  • That’s why we’re here
the best foundational thinking on answering that question
The best foundational thinking on answering that question:
  • Michael Porter, Harvard Business School
  • That brings us to his foundational books
a note on the books
A note on the books:
  • Michael Porter’s Competitive Strategy
  • Michael Porter’s Competitive Advantage
a note on the books12
A note on the books:
  • Michael Porter’s Competitive Strategy
  • Michael Porter’s Competitive Advantage
  • Strategic analysis based on:
    • Industry analysis (the five forces)
    • Firm analysis (the value chain)
  • They are classics, but don’t be fooled by the dates…
a note on the books13
A note on the books:
  • They provide the foundation for most of the best current thinking on strategic issues today
they are the foundation of hbs s current strategy offerings
They are the foundation of HBS’s current strategy offerings:
  • What is Strategy? (HBR digital 2008)
  • How Competitive Forces Shape Strategy (HBR digital 2008)
  • From Competitive Advantage to Corporate Strategy (HBR digital 2008)
  • The Five Competitive Forces that Shape Strategy (HBR digital 2008)
and they provide the foundation for nearly all strategy texts
And they provide the foundation for nearly all strategy texts:
  • Strategic Management: Competitiveness & Globalization by Hitt, Ireland,& Hoskisson (2010)
  • Crafting & Executing Strategy by Thompson, Gamble, & Strickland, & Gamble (2009)
  • Strategic Management: Creating Competitive Advantages by Dess, Lumpkin, & Eisner (2010)
  • Strategic Management: Formulation, Implementation, and Control by Pearce & Robinson (2010)
  • Even Strategic Management and Competitive Advantage by Barney and Hesterly (2009)
a note on the books16
A note on the books:
  • Their impact goes beyond providing the foundation for most current thinking on strategic, business, and economic issues
they are the foundation for porter s current recent work
They are the foundation for Porter’s current & recent work:
  • Porter (forthcoming) Strategic Corporate Social Responsibility
  • Porter (2008) On Competition (Updated and Expanded Edition)
  • Porter & Teisberg (2006) Redefining Health Care: Creating Value-Based Competition on Results
  • Porter & Kramer (2006) Strategy and Society: The Link between Competitive Advantage & CSR
  • Plus, Porter’s work on competitive advantage of nations, urban development, & environment
they are the foundation for important research across a variety of areas
They are the foundation for important research across a variety of areas:
  • A Study of the Role Played by Manufacturing Strategic Objectives and Capabilities in Understanding the Relationship between Porter's Generic Strategies and Business Performance (British Journal of Management, 2010)
  • Porter’s Generic Strategies and Environmental Scanning Techniques (The Business Review, Cambridge, 2010)
  • Analyzing Porter's Ideas: Horizontal Differentiation and Product Innovation (IUP Journal of Knowledge Management, 2010)
  • Porter's generic strategies as applied toward e-tailers (The Journal of Product and Brand Management, 2010)
they are the foundation for important research across a variety of areas19
They are the foundation for important research across a variety of areas:
  • Strategy as "Inferior" Choice: A Re-interpretation of Porter's "What is Strategy?“ (Journal of Management Research, 2010)
  • Does the Porter Hypothesis Explain Expected Future Financial Performance? The Effect of Clean Water Regulation on Chemical Manufacturing Firms (Environmental and Resource Economics, 2010)
  • Competitive Advantage of German Renewable Energy Firms in Russia – An Empirical Study Based on Porter’s Diamond (Journal for EE Management Studies, 2010)
  • The Effect of Clean Water Regulation on Profitability: Testing the Porter Hypothesis (Land Economics, 2010)
realistically
Realistically?
  • They’re not comic books
  • My friends at other top schools said…
  • They can be dry in places. (Oh, yes.)
  • But the load works out to be very manageable, in terms of pages per week
  • (And about $65,000 savings)
realistically21
Realistically?
  • They are books and ideas that matter
  • They are books and ideas with practical value
  • We’ll start with the basics
  • And there’s plenty of room to grow, once you have these down
  • My belief: You’re grownups.

You can handle grownup books.

back to the syllabus
Back to the syllabus:
  • Look it over
  • Q&A next time and in your labs
  • The major events…
the major events
The major events:
  • Two exams plus a final
  • Quizzes in labs
  • The 10-K Integration project (individual)
  • Capstone “Off the Books”
  • Case 1: Industry analysis
  • Case 2: Strategic analysis (of a firm)
  • The Great Capstone Case Competition
slide30
You
  • Four years ago (or so), you were seniors in high school
  • You decided to attend college
colleges and universities
Colleges and universities
  • Are amazing things
  • They began with Plato’s Academy

(Around 387 B.C.)

colleges and universities32
Colleges and universities
  • They evolved through that to his full symposia (nicer surroundings)
colleges and universities33
Colleges and universities
  • And eventually to the School of Athens
colleges and universities34
Colleges and universities
  • By around 800s, formal universities were being formed in places like Constantinople and Salerno
colleges and universities35
Colleges and universities
  • By around 1200, they existed in Paris, Oxford, Cambridge, & Salamanca
colleges and universities36
Colleges and universities
  • These provide the foundations for our concept of universities today

But it was a long road;

It took more than

400 additional years

for Harvard to

even enter the picture!

colleges and universities37
Colleges and universities
  • Today, we refer to them collectively as institutions of higher education
  • That’s meaningful
  • It drives what we do here
  • And it’s why you came here
back to you
Back to you
  • That brings us back to you.
  • Four years ago, this was all a pretty fuzzy concept to you. You had…
    • ideas about what you would learn
    • goals about what you would become
      • Smarter?
      • New skills?
      • More well-rounded?
      • A different kind of thinker?
back to you39
Back to you
  • So here you sit
  • Final semester
  • Time for some questions:
    • Has it been what you thought?
    • Has it been what you’d hoped?
    • And maybe most importantly…
back to you40
Back to you
  • Are there things you wanted out of it that haven’t yet happened?
    • Have I been pushed?
    • Have I pushed myself?
    • Have I discovered yet what I can really do?
back to you41
Back to you
  • Here’s the thing: Time’s almost up…
  • This is the last chance you have to see what you can do
  • We’re here to help
  • Let’s get to it
next time
Next time:
  • More on what we’re doing here
  • Mission and strategy
see you next week
See you next week…
  • Knock ‘em dead in your labs
  • (Your instructors can’t wait…)
see you next week44
See you next week…
  • Knock ‘em dead in your labs
  • (Your instructors can’t wait…)