Business Policy And Strategy - Dr. Richard Linowes American University
PREREQUISITE: Senior standing and completion of basic courses in marketing (Mktg 300),
accounting (Acct 240, 241), finance (Fin 365), info technology (ITEC 200),
production operations (ITEC 355), organizational behavior (Mgmt 353),
corporate citizenship (Mgmt 201) and international business (IBus 300).
REQUIRED TEXTS: Thomas L. Wheelen and J. David Hunger,
Strategic Management and Business Policy: Concepts and Cases , 10 th edition
Pearson Prentice Hall. ISBN: 0-13-149459-7 (purchased at the campus store or at www.thomsonedu.com )
Richard G. Linowes, Business Policy Course Notes (on AU Blackboard).
Capstone®; Management Simulation (purchased on-line at www.capsim.com ).
RECOMMENDED Stephen R. Covey, The Seven Habits of Highly Effective People :
TEXTS: Restoring the Character Ethic , Simon & Schuster, 1990,
ISBN 0-743-26951-9
Regular assignments also include written assessments of classroom activities and news articles from the Wall Street Journal, Financial Times, Forbes, Fortune, Business Week, Economist, CNN, CNBC, MSNBC and other recommended news sources.
COURSE OBJECTIVE:
This course is designed to help senior undergraduates prepare themselves to be vital contributors to the effective management of an enterprise. They will be provided the opportunity to think and communicate as practicing managers responsible for running organizations and who adjust their firm's direction in the face of changing world events.
COURSE CONTENT:
This course is concerned with the functions and responsibilities of management and the problems affecting a total enterprise. The principal theme underlying the course is corporate strategy, referred to here as the relationship between a business enterprise and its environment. The course presumes that this relationship can be managed by individuals who are alert to market opportunities, adept at harnessing organizational resources, aware of their own personal values, and responsive to societal expectations.
LEARNING OBJECTIVES AND SKILL DEVELOPMENT
At the conclusion of this capstone course, students will be able to:
Cross-Core Integration : This course integrates all the material from the core courses. The course makes intensive use of cases that emphasize cross-functional issues and a general management perspective. In addition, a business simulation allows teams of students to direct their own company, making decisions pertaining to strategy, research and development, marketing, finance and production.
Professional Skill Set Development : This course emphasizes the development of many practical professional skills, including oral (O) and written (W) communication, teamwork (T), and case analysis (C). It also requires students to cultivate a global perspective and become well-informed about events affecting business.
COURSE METHODOLOGY:
This course uses a variety of approaches including readings from texts and business periodicals, written assignments fostering individual thinking and analysis, and combines these with experiential learning associated with case studies, management simulation and classroom exercises.
The course makes extensive use of a participatory method of instruction and role-playing. Under these approaches, classes emphasize orchestrated discussions rather than lectures. Consequently, class participation is an essential element of the learning process.
Specifically, the course presents each student with the following forms of learning activity:
TEACHING PHILOSOPHY AND LEARNING ACTIVITIES:
The course is designed to foster learning at three levels: the individual level, the study group level, and the classroom level.
At the individual level, the student undertakes some activities outside the classroom that develop his or her personal knowledge and communication skills (such as studying the texts, analyzing case studies, reading the news, writing assigned management statements, preparing observation assignments, planning a presentation, etc.).
At the group level, the student becomes a member of a work group that works together as a team both in and out of class throughout the semester (assisting each other in analyzing case studies, writing memos recommending management actions, planning out moves in the management simulation exercise, etc.).
At the classroom level, the student becomes part of a larger group in class by joining animated exchanges, group projects, and classroom discussions under the direction of the instructor (critiquing student presentations, discussing news articles, analyzing case studies, questioning lecture material, discussing management statements, participating in classroom exercises, giving interpersonal feedback, and becoming a dutiful member of the classroom community).
Each class session typically includes at least four activities :
As time permits, sometimes other activities will be added, including quizzes and short presentations by visiting business professionals. The result is that there are many more activities planned for this course than we shall have time to cover in class.
Given the nature of these teaching methods, it is estimated that a very significant portion of the learning that occurs in this course takes place in the classroom.
ASSIGNMENTS :
1. Homework
All reading assignments must be completed prior to class. Weekly homework assignments listed in the attached course outline and those announced in class must be completed on an individual and/or study group basis, as specified when the assignment is made.
Student presentations, news articles, financial statements, textbook readings, cases, short written projects, and management exercises will be discussed in class.
2. Simulation
Each week each group of 5-6 students must submit their team's decisions for the Capstone®; management simulation. These decisions, submitted on-line at the www.capsim.com website, represent the latest round of choices made by your company in the year-to-year competition within the electronic instrument industry.
3. Leadership Talk
Each student must prepare a brief motivational presentation to the class on a pre-assigned theme. This assignment calls upon each person to act as a leader addressing some issue of group concern. The suggested theme for each day's talks is provided later in this syllabus. Students then choose a scenario for expressing the theme they have been assigned.
4. Topical Presentation
Each student must prepare a succinct presentation on a business-related topic that demonstrates his/her ability to think from a general management perspective. Commonly these are strategic plans for a company of the student's choosing. Clear, creative visual aids are crucial elements of these presentations. Transparencies, charts, slides or PowerPoint presentations and a variety of other visual aids should support the main argument. An accompanying written memo must be distributed to all in attendance. This write-up should be single-spaced, at least 5 pages of text with additional supporting appendices including recent financial statements. Students will be expected to field challenging questions testing their mastery of relevant issues and their ability to think from a general management perspective. These presentations begin >>>>>>>> February 14 <<<<<<<<.
Detailed instructions will be discussed in class. Proposals, visual aids, and in-class memos must conform to those instructions. Presentations made by former students may be studied as models for your work.
Companies or topics selected for study must be approved by the instructor . Select your topic as soon as possible, but no later than a week before your scheduled presentation. For planning purposes, you should regard this project as requiring as much work as a 35 + -page term paper assignment. Thoroughly research your topic and learn it very well. Remember: You will be grilled intensely following your presentation in a manner similar to an oral exam. These presentations and subsequent Q&A will be video recorded for later viewing.
5. News Reporting
Students will be asked to summarize major stories in the business news on the blackboard of the classroom at the start of class. Proper preparation requires a regular reading of the news. Students should study both the world and business news carefully everyday and monitor an investment portfolio of their choosing.
BUSINESS AND WORLD NEWS:
Students are expected to stay abreast of newsworthy developments in business and the world. They should devote several hours each week to reading or watching the news.
Study articles from periodicals such as the Wall Street Journal, Financial Times, Business Week, Fortune, Forbes and Barron's as well as the newer magazines Smart Money, Fast Company and Business 2.0. General news publications such as the Economist, Time, Newsweek, and US News & World Report are also recommended, with the first being the most valuable for developing a management perspective.
Finally, television programs, such as Lou Dobbs Tonight, the Nightly Business Report, Newshour with Jim Lehrer, Wall Street Week, Managing, and the Sunday morning programs including Meet the Press, Face the Nation, and This Week, as well as the on-going CNBC, MSNBC and C-SPAN programs offer an invaluable means for keeping up with important news stories. Students will take responsibility for reporting on a TV program.
Spend time in your study group meetings discussing the news and the fluctuations you observe in your investment portfolio.
EXAMINATIONS:
The course may include several quizzes on the news and the textbook. These may be announced or unannounced. The final exam will be open book and may be a take home examination. There will be no midterm examination.
STUDENT RESPONSIBILITIES:
Students are expected to attend class regularly and to participate fully in class discussions and classroom exercises. Reading assignments and case study preparations must be completed prior to their scheduled classroom discussion.
Students are expected to become a participating member of a study group , playing an active role in generating his or her group's written case study recommendations and management simulation decisions. Each student is also responsible for completing the individual work projects outlined in the class outline.
Keep copies of your homework and assignments when you submit originals for review or evaluation. All papers should follow normal academic standards for written materials (suggested text: The St. Martin's Handbook by Andrea Lunsford and Robert Connors).
ACADEMIC INTEGRITY POLICY:
Academic integrity, the body of ethical standards, practice, and behavior, is paramount in higher education and essential to effective teaching and learning. As a professional school, the Kogod School of Business is committed to preparing our students and graduates to value the notion of integrity.
Standards of academic conduct are governed by the University's Academic Integrity Code. By enrolling in the School and registering for this course, you acknowledge your familiarity with the Code and pledge to abide by it. All suspected violations of the Code will be immediately referred to the Office of the Dean and disciplinary action including failure for the course, suspension, or dismissal may result.
Additional information about the Code (i.e. acceptable forms of collaboration, definitions of plagiarism, use of sources including the Internet, and the adjudication process) can be found in a number of places including the University's Academic Regulations , Student Handbook , and website at < http://www.american.edu/academics/integrity >. If you have any questions about academic integrity or standards of conduct in this course, please discuss them with your instructor.
GRADING:
Separate elements of a student's performance are weighted approximately as follows when assigning a final grade:
Class Participation 25 %
Written Memos 25
Formal Presentations 25
Examinations 25
100 %
The focus of this course is the building of judgment and skills rather than the assimilation and memorization of facts and definitions. A substantial portion of the grade (minimum of 25%) will be based upon demonstration of the professional skill or skills. Thus, the instructor will be attentive to signs of individual effort and personal development over the course of the semester.
COURSE SCHEDULE
Date Session Topics Homework Due
Textbook Case/Written Work
January
17, 22 1 Introduction, Course Overview,
General Management Perspective,
Capstone®; Management Simulation
24, 29 2 Administrative Setup, W&H: 1 Personal Statement
News Awareness, Covey: Part One Preparing Effective Case Analysis
Strategic Management, Case A : Wallace Group
Case Discussion (Case # 2)
31, 3 Strategic Thinking, W&H: 2 Investment Portfolio
Feb 5 Market Awareness, Covey: Habit One Case B : Recalcitrant Director at Byte
Corporate Governance, (Case # 1)
Being Proactive, Capstone®; Simulation practice begins...
Case Discussion
February
7, 12 4 Global Thinking, W&H: 3 Case C : GlaxoSmithKline
Ethics and Responsibility, [Kogod Case Competition] (Case # 4)
Case Discussion
14, 19 5 Peak Performance, W&H: 4 Case D : Oprah Winfrey
Environmental Scanning, Covey: Habit Two (Case # 23)
Case Discussion Topical Presentations begin...
21, 26 6 Internal Scanning, W&H: 5 Contribution Statement
Financial Scorekeeping, Covey: Habit Three Capstone®; Simulation begins... Prioritizing Action, (Case # 20)
Case Discussion
28, 7 Business Strategy, W&H: 6 Financial Analysis Exercise
Mar 5 Learning to See Beyond Handout Preparation
the Numbers
March
7, 19 8 Corporate Strategy, W&H: 7 Case E : Carnival Corporation
Win/Win, Covey: Habit Four (Case # 13)
Case Discussion
21, 26 9 Functional Strategy, W&H: 8 Corporate Planning Exercise
International Strategy Preparation
Background : Reebok (Case # 14)
Course Schedule (continued)
Date Session Topics H o m e w o r k D u e* ,
Textbook Case/Written Work
March
28, 10 Organizing for Action, W&H: 9 Teamwork & Leadership Statement
Apr 2 Understanding Others, Covey: Habit Five Case F : JetBlue (Case # 30)
Case Discussion
4, 9 11 Staffing and Direction, W&H: 10 Case G : Carey Plant (Case # 27)
Synergy, Covey: Habit Six
Case Discussion
15 Sunday Topical Presentations
11, 16 12 Evaluation and Control, W&H: 11 Case H : Lowes (Case # 38)
Case Discussion
18, 23 13 Managing Technology, W&H: 12 Take Charge Statement
[to be rescheduled] Organizational Renewal, Covey: Habit Seven Case I : TBA
Running a Project, Interpersonal Feedback Exercise
Case Discussion Preparation
25 , 30 14 Integrity, W&H: 13 Case J : TBA
[to be rescheduled] Entrepreneurship, Simulation Team Presentations
Interpersonal Effectiveness,
Course Summary
May
7, 9 FINAL EXAMINATION [in-class or take-home, TBD]
Please reserve Sunday, April 15 for scheduling additional classroom activities.
* Weekly assignments also include regular reading of the business news.
Furthermore, each student must prepare two presentations (a Leadership Talk and a Topical Presentation) to be conducted at two pre-scheduled times during the semester. Scheduling for these presentations is arranged during the first two weeks of classes.
Other activities beyond those shown above will be included in each class session. These include:
TOPICS OF SCHEDULED LEADERSHIP TALKS
Date Theme (the theme is assigned; the scenario is your choice)
Jan 24, 29 Taking Charge of an Established Group
The speaker is a manager now newly assigned to a group that has worked together under other managers for some time.
Jan 31, Feb 5 Announcing a New Project
The speaker is announcing a new undertaking to members of his/her department and is calling on all to rally behind the effort.
Feb 7, 12 Calling for Better Customer Service
The speaker is motivating all employees to be as attentive and responsive
to the customer as possible.
Feb 14, 19 Calling for Excellence and High Quality Work
The speaker is motivating all employees to perform their jobs with a
commitment to meeting the highest possible standards.
Feb 21, 26 Announcing the Need for Cost Reductions
The speaker is requesting everyone look for ways to cut expenditures
and immediately begin slashing spending.
Feb 28, Mar 5 Commending for a Job Well Done
The speaker is extolling a group of people who have worked very hard
for an extended period to produce outstanding results.
Mar 7, 19 Reprimanding Unacceptable Behavior
The speaker is calling to task certain individuals who have failed to perform
up to required levels.
Mar 21, 26 Calming a Frightened Group of People
The speaker is endeavoring to restore peace and confidence to those who now
panic in the face of distressing business developments.
Mar 28, Apr 2 Addressing a Challenging Opposition
The speaker is presenting some heartfelt belief to a critical, hostile audience.
Apr 4, 9 Uniting Opposing Parties
The speaker is rallying for compromise between two groups bitterly opposed
on some key issue.
Apr 11, 16 Taking Responsibility for Error
The speaker is the figurehead spokesman for an institution that has produced some unfortunate result affecting the audience.
Apr 18, 23 Petitioning for Special Allowances
The speaker is presenting the case for an institution seeking certain rights which must be authorized by some external body.
OUTLINE FOR DAILY NEWS REPORTING
Study groups take responsibility for putting the news on the classroom blackboard before the start of class each week. Your group will be assigned one of the topics below each week, rotating through the list from session to session.
Left side of front blackboard:
WORLD DOMESTIC BUSINESS MARKETING
NEWS NEWS NEWS NEWS
1 2 3 4
Right side of front blackboard:
EQUITY INTEREST RATES CURRENCY COMMODITY
MARKETS (or BOND MARKETS) MARKETS MARKETS
5 6 7 8
SUGGESTED TELEVISION PROGRAMS
Daily: MON-FRI Comcast Cable TV Channel
Every Weekday :
daytime all day live news broadcasts CNBC 60
| MSNBC 61
evenings
5:00 pm Kudlow & Company (1 hour) CNBC 60
6:00 Newshour with Jim Lehrer (first airing - 1 hour) WMPT 22
6:00 Lou Dobbs Tonight (1 hour) CNN 62
6:00 Mad Money (first airing - 1 hour) CNBC 60
6:30 Nightly Business Report (first airing - ½ hour) WETA 26
7:00 Newshour with Jim Lehrer (repeat - 1 hour) WETA 26
7:00 Nightly Business Report (repeat - ½ hour) WMPT 22
7:00 On the Money (1 hour) CNBC 60
7:30 MoneyWise (½ hour) WHUT 32
9:00 Mad Money (second airing - 1 hour) or CNBC 60
Conversations with Michael Eisner (T,W,Th) CNBC 60
12:00 am Mad Money (third airing - 1 hour) CNBC 60
12:30 International Business (sometimes starts 1:30 am) WETA 26
Weekly Programs :
MON 6:00 pm MoneyTrack (½ hour) WHUT 32
TUES 6:00 pm World Business (½ hour) WHUT 32
WED 6:00 pm Small Business School (½ hour) WHUT 32
THURS 5:30 pm World Business (½ hour) WMPT 22
THURS 7:30 pm Business Connection (½ hour) WMPT 22
FRI 8:00 pm Washington Week (½ hour) WMPT,WETA 22, 26
8:30 Inside Washington (½ hour) WETA 26
SAT 10:00 am Bulls FNC 40
10:30 On Business FNC 40
11:00 Forbes FNC 40
1:00 pm In the Money (1 hour) CNN 62
9:00 Suze Orman (first airing - 1 hour) CNBC 60
SUN 6:00 am Business Week (½ hour) WABC 27
6:30 Wall Street Journal Report (½ hour) WABC 27
6:30 Small Business School (½ hour) WMPT 22
7:30 pm Wall Street Journal Report (½ hour) CNBC 60
7:30 Business Now (½ hour) WMPT 22
8:00 High Net Worth (first airing - ½ hour) CNBC 60
9:00 MoneyWise (½ hour) WETA 26
9:00 This Week with George Stephanopoulos (1 hour) ABC 27
10:00 Inside Washington WABC 27
10:30 Meet the Press (1 hour), Face the Nation (½ hour) NBC, CBS 24, 29
11:00 High Net Worth (second airing - ½ hour) CNBC 60
11:00 Eye on Washington (½ hour) CBS 29
11:00 Business Now (½ hour) WMPT 22
12:00 Suze Orman (second airing - 1 hour) CNBC 60
TEXTBOOK CHAPTER SUMMARIES
Whelan & Hunger, Strategic Management and Business Policy (10 th edition)
Chapter Number Title
Part One Introduction to Strategic Management and Business Policy
1 Basic Concepts in Strategic Management
2 Corporate Governance
3 Ethics and Social Responsibility in Strategic Management
Part Two Scanning the Environment
4 Environmental Scanning and Industry Analysis
5 Internal Scanning: Organizational Analysis
Part Three Strategy Formulation
6 Strategy Formulation: Situation Analysis and Business Strategy
7 Strategy Formulation: Corporate Strategy
8 Strategy Formulation: Functional Strategy and Strategic Choice
Part Four Strategy Implementation and Control
9 Strategy Implementation: Organizing for Action
10 Strategy Implementation: Staffing and Direction
11 Evaluation and Control
Part Five Other Strategic Issues
12 Managing Technology and Innovation
13 Entrepreneurial Ventures and Small Businesses
14 Not-for-Profit Organizations
Part Six Introduction to Case Analysis
15 Suggestions for Case Analysis
Stephen Covey, Seven Habits of Highly Effective People: Powerful Lessons in Personal Change
Part One Paradigms and Principles
Part Two Private Victory
Habit 1 Be Proactive
Habit 2 Begin with the End in Mind
Habit 3 Put First Things First
Part Three Public Victory
Habit 4 Think Win/Win
Habit 5 Seek First to Understand, Then to be Understood
Habit 6 Synergize
Part Four Renewal
Habit 7 Sharpen the Saw