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ASSIGNMENT No. 1
Q. 1 Provide examples of companies that are actively trying to increase empowerment of Employees in the strategic management process throughout the organization. Do these organizations seem to be having positive outcomes? Why? Why not? (20)
Q. 2 Look up the vision statement and/or mission statement for a few companies. Do you feel that they are constructive and useful as a means of motivating employees and providing a strong strategic direction? Why? Why not? (20)
Q. 3 Imagine yourself as the CEO of a large firm in an industry in which you are interested. (1) identify major trends in the general environment, (2) analyze their impact on the firm, and (3) identify major sources of information to monitor these trends. (20)
Q. 4 Using published reports, select two CEOs who have recently made public statements regarding a major change in their firm’s strategy. Discuss how the successful implementation of such strategies requires changes in the firm’s primary and support activities. (20)
Q. 5 Think of a firm that has successfully achieved a combination of overall cost leadership and differentiation strategy. What can be learned from this example? Are these advantages sustainable? (20)
ASSIGNMENT No. 2
Total Marks: 100
This assignment is a research activity. You are required to visit any business/commercial organization/or obtain information from any accessible source and prepare a types research report of about 15 to 20 pages on one of the topics given below. To avoid the duplication, a student is required to select the topic according to the last digit of his/ her role number. For example if your roll number is I-342718 then you will select topic # 8 from the given below list (last digit):
As there are four topics, you will select the topics according to the last digit mentioned as under:
Topics Last digit of the role number
1 1, 2, 3
2 4, 5, 6
3 7, 8
4 9, 0
Topics
1. Strategic Environments
2. Strategy Capabilities Analysis
3. Organizational structure
4. Managing Strategic Change
The assignment should be developed on the following format.
· Introduction 10 marks
· Review of literature 30 marks
· The data collection 10 marks
· Data analysis 20 marks
· Conclusions and recommendations 20 marks
· References 10 marks
· Annexes
Guidelines for the submission of assignments
You are required to prepare two copies of 2nd assignment. Submit one copy to your tutor/ teacher for evaluation and the second copy for presentations in the workshop in the presence of the resource person and classmates, which will be held at the end of the semester prior to the final examination.
Guidelines for workshop
The workshop is a compulsory component of this course to cover practical aspects of the curriculum, which will be held at the end of the semester and your attendance is compulsory in all sessions.
There are two components in the workshop. The first part is a group activity. The students will be divided into four groups and they would be assigned topics as under:
- Group one: Strategic Analysis
- Group two: Strategy Formulation
- Group three: Strategy Implementation
- Group four: Strategy Evaluation
Each group will select a group leader and discuss the topic within the group. The group members will act as members of the top management team of a company and discuss aspects of management by using models and theories covered in the course. The focus of the group activity would be on theories, models, case studies and practical examples of real life situation of national and international industries, business organizations, and products. The group discussion will enable students to share their knowledge and experiences. This will also help them in getting clarity of the concepts and discuss the issues faced by the management of different organizations observed and studied by the group members.
All students will come with full preparation and this activity will be supervised by one of the resource persons, who will act as a facilitator.
All groups will work simultaneously and complete this task on the first day of the workshop. The group will prepare a presentation based on the findings of the discussion.
If a student does not participate in this activity he/she will be declared absent from the workshop and will have to attend the workshop in the next semester or act according to the university rules.
Each group will perform the said activity and other groups will participate as observers. The tutor will write a report on the strengths and weaknesses of each group member and will evaluate each student.
The tutors/teacher will keep record of his observations and submit the same to the RD who would send it to the Quality Assurance Cell Department of Business Administration Allama Iqbal Open University Sector H-8 Islamabad, within one week of the evaluation by the tutor.
The 2nd component of the workshop is an individual activity.
The guidelines for this activity are as under:
Each student will present his/her 2nd assignment in the class.
Students are advised to prepare the presentations based on their 2nd assignments.
Each student will be given 10 to 15 minutes for presentation and 5 minutes for class discussion.
The participants and tutor/ teacher will allow the presenter to make his/her presentation for 15 minutes to provide him/her an opportunity to gain confidence and improve his/her communication skills. The questions to generate the discussion and evaluate the performance will be asked in the last five minutes.
To maintain the discipline and for effective time management each student is required to make presentation according to the last digit of his/ her roll number. For example if your roll number is I-342701 then you will be the first presenter (last digit).
Fifty percent marks will be assigned to group activity and the remaining fifty percent to the individual presentation.
BUSINESS POLICY AND STRATEGY
(Code No. 887)
Course title: Business Policy and Strategy
Code No.: 887
Level: MBA
Prerequisite: Student should have good communication skills in English language and good understanding of Management, Marketing and Finance.
Credits: Half credit (AIOU System) = 3 credits in formal system
Course objectives
Strategic Management is an integrative course designed to provide students the opportunity to develop skills in identifying, analysing, and solving problems faced by top management in the real business world. While doing this, you will gain experience and confidence that will prepare you for the business world. The perspective will be that of top management concerns of the total organization rather than any specific functional area. In addition to the use of books, lectures, discussions in the class and workshops, use of articles from the business press is recommended to focus on topics of current interest. Throughout the course, a strategic outlook will prevail. Precisely, the objectives of this course are:
1. To build up an understanding of strategic management process, theories and research
2. To enhance the student’s understanding of the present and future environments within which organizations function
3. To develop advanced analytical skills to identify and analyze strategic options and present well-supported recommendations for future actions
4. To develop an advanced understanding about designing organizational structure, control system and implementing strategic change.
5. To extend a critical awareness of contemporary and pervasive issues in corporate strategy
Brief Course Outline
Unit 1 Introduction to Strategic Management
Unit 2 Strategic Environments
Unit 3 Strategic Resources and Capabilities Analysis
Unit 4 Strategy Development
Unit 5 Corporate Level Strategy
Unit 6 Business Level Strategy and Functional Strategy
Unit 7 Creating Effective Organizational Structure
Unit 8 Strategy implementation
Unit 9 Strategy evaluation and managing strategic change
DETAILED COURSE OUTLINE
Unit 1 Introduction to Strategic Management
1.1 Nature and importance of strategic management and strategy
1.1.1 Attributes of strategic management
1.1.2 Evolution of strategic management
1.1.3 Strategic management process
1.1.4 Development the vision and mission
1.1.5 Characteristics of strategic decisions
1.1.6 Strategy hierarchy
1.1.7 Strategy triggering events
1.1.8 Organizational objectives and the strategic choices
1.2 Strategic management in different contexts
1.2.1 Small businesses
1.2.2 Global companies
1.2.3 Manufacturing and service organizations
1.2.4 Innovatory organizations
1.2.5 Public-sector organizations
1.2.6 Voluntary and not-for- profit organizations
1.3 Challenges of strategic management
Unit 2 Strategic Environments
2.1 The strategic importance of understanding the environment
2.2 The general environment
2.3 The macro-environment analysis
2.3.1 PESTEL framework
2.3.2 Structural drivers of change
2.3.3 Impact of environmental influences
2.3.4 Scenarios
2.4 The competitive environment
2.5 Industries and sectors analysis
2.5.1 Sources of competition
2.5.2 The dynamics of competition and hyper-competition
2.5.3 Strategic groups
2.6 Organizational fields
2.7 Markets
2.7.1 Market segmentation
2.7.2 Understanding what customers value
2.8 Value chain analysis
2.9 SWOT analysis
2.10 Identifying and analysing strategic gap
2.11 Resource based view of the firm
Unit 3 Strategic Resources and Capabilities Analysis
3.1 The roots of strategic capabilities
3.2 Importance of knowledge in developing strategic capabilities
3.3 Human and social capital
3.4 Use of technology to leverage human capital and knowledge
3.5 Critical success factors
3.5.1 Available resources
3.5.2 Threshold resources
3.5.3 Unique resources
3.6 Competencies and core competencies
3.7 Delivering value for money
3.7.1 Sources of cost efficiency
3.7.2 Product features
3.8 Performing better than competitors
3.8.1 Historical comparison
3.8.2 Industry norms/standards
3.8.3 Benchmarking
3.9 Robustness
3.9.1 Rarity
3.9.2 Complexity
3.9.3 Causal ambiguity
3.9.4 Culture
3.9.5 Knowledge creation and integration
Unit 4 Strategy Development
4.1 The strategy lenses
4.1.1 Strategy as design
4.1.2 Strategy as experience
4.1.3 Strategy as ideas
4.2 Strategy development process
4.2.1 Strategic planning systems
4.2.2 Strategic leadership
4.2.3 Organizational politics
4.2.4 Logical incrementalism
4.2.5 Imposed strategy
4.2.6 Multiple processes of strategy development
4.3 Directions for strategy development
4.3.1 Protect and build on current position
4.3.2 Product development
4.3.3 Market development
4.3.4 Diversification
4.4 Methods of strategy development
4.4.1 Internal development
4.4.2 Mergers and acquisitions
4.4.3 Joint developments and strategic alliances
4.6 Challenges and implications for strategy development
4.6.1 Intended and realized strategies
4.6.2 Strategic drift
4.6.3 Uncertain and complex conditions
Unit 5 Corporate Level Strategy
5.1 Types of corporate strategy
5.2 Growth through related diversification
5.2.1 Leverage competencies
5.2.2 Sharing resources and activities
5.2.3 Vertical integration
5.3 Growth through unrelated diversification
5.4 Financial synergies and corporate parenting
5.4.1 Portfolio management
5.4.2 The restructure
5.4.3 The synergy manger
5.4.4 The parental developer
5.5 Means to achieve diversification
5.5.1 Mergers and acquisitions
5.5.2 Strategic alliances and joint ventures
5.5.3 Internal development
5.6 Managing corporate portfolio
5.6.1 The growth share matrix (or BCG box)
5.6.2 Balance in public sector portfolio
5.6.3 The directional policy matrix
5.6.4 The parenting matrix
5.6.5 Trends in portfolio management
5.7 Managerial motives to diversify
5.8 International strategy
5.8.1 Understanding global economy
5.8.2 Factors affecting a country’s competitiveness
5.8.3 Motivations of international expansion
5.8.4 Risks of international expansion
5.8.5 Achieving competitive advantage in global markets
5.8.6 Entry modes of international expansion
Unit 6 Business Level Strategy and Functional Strategy
6.1 Types of business strategy
6.2 Forces influencing business strategy
6.3 Bases of competitive advantage
6.3.1 Price base strategies
6.3.2 Differentiation strategies
6.3.3 Hybrid strategy
6.3.4 Focus strategies
6.4 Sustaining competitive advantage
6.5 Strategic implications of industry life cycle
6.6 Competition and collaboration
6.7 Game theory
6.7.1 Simultaneous game
6.7.2 Sequential game
6.7.3 Repeated games
6.7.4 Changing the rules of the game
6.8 Competitive advantage in hyper-competitive conditions
6.9 Digital business strategy
6.9.1 Role of technology in business competition
6.9.2 Impact of digitally based capabilities on competitive forces
6.9.3 Uses of Internet to add value and achieve unique advantage
6.9.4 Use of Internet-enabled business models
6.9.5 How digital strategies can improve competitive position
6.9.6 Pitfalls associated with using the Internet and digital technologies
Unit 7 Creating Effective Organizational Structure
7.1 Importance of organizational structure in implementing strategies
7.2 Patterns of growth of large companies
7.3 Elements of organizational structure
7.3.1 Work specialization
7.3.2 Departmentalization
7.3.3 Chain of command
7.3.4 Span of control
7.3.5 Centralization-decentralization
7.3.6 Formalization
7.4 Factors affecting organizational structure
7.4.1 Strategy
7.4.2 Size
7.4.3 Technology
7.4.4 Environmental uncertainty
7.5 Structural types
7.5.1 Traditional
7.5.1.1 Simple
7.5.1.2 Functional
7.5.1.3 Divisional
7.5.2 Contemporary
7.5.2.1 Team-based
7.5.2.2 Matrix
7.5.2.3 Project-based
7.5.2.4 Boundaryless: Virtual, Network and Modular
7.6 Creating Ambidextrous Organizations
7.7 Challenges in organizational design
7.7.1 Keeping employees connected
7.7.2 Building a learning organization
7.7.3 Global structural issues
Unit 8 Strategy Implementation
8.1 Managing people
8.1.1 People as a resource
8.1.2 People as the cultural and political context
8.1.3 Organizing people
8.1.4 Competitive advantage through people
8.2 Managing information
8.2.1 Information and strategic capability
8.2.2 Information and changing business models
8.2.3 Information and structuring
8.3 Managing finance
8.3.1 Managing for value
8.3.2 Funding strategic development
8.3.3 Financial expectations of stakeholders
8.4 Managing technology
8.4.1 Technology and competitive situation
8.4.2 The diffusion of innovation
8.4.3 Technology and strategic capability
8.4.4 Organizing technology development
8.5 Integrating resources
Unit 9 Strategy Evaluation and Managing Strategic Change
9.1 Measures of corporate performance
9.2 Strategic information systems
9.3 Strategy evaluation process
9.4 Strategy evaluation criteria
9.4.1 Suitability
9.4.2 Acceptability
9.4.3 Feasibility
9.5 Strategy evaluation methods
9.6 Strategic control
9.7 Managing Strategic Change
9.7.1 Types of strategic change
9.7.2 Levels of change
9.7.3 Forces for change
9.7.4 Diagnosing the change situation
9.7.5 Levers for managing strategic change
9.7.6 Change process
Recommended Books
David, R. F. (Strategic Management) 8th Ed. Islamabad, NBF
Dess, G. G., Lumpkin, G. T. and Eisner, A. B. (2007) Strategic management: text and cases, 3rd Ed., Boston
Dess, G. G., Lumpkin, G. T. and Eisner, A. B. (2007) Strategic management: creating competitive advantages, 3rd Ed., Boston ; London
Johnson, G., Scholes, K. and Whittington, Richard (2006) Exploring corporate strategy, 7th Ed., Harlow : Prentice Hall
FitzRoy, Peter and Hulbert, J. M. (2005) Strategic management: creating value in a turbulent world, Chichester : Wiley