Strategy & Policy - Susan Kuznik DBA Baldwin-Wallace College
Course Description:
This course is the capstone course for business majors in their preparation to enter, or further, their career in the business world. The objective of this course is to formulate and implement strategies that will provide a direction for the business to follow, leading to enduring business success.
Course Process:
This course involves the "interactive learning" approach, whereby you are responsible not only for your learning but also the learning of other class members. It is my intent we approach each class in the spirit of mutual support, commitment, and competence.
The interactive learning process involves:
- (a) The learning brought from interpersonal, educational and work experiences;
- (b) The assigned reading for the course, and
- (c) The shared learning resulting from the research components of the course.
To accomplish this, a large part of this course will take place in learning teams. The teams will be assigned at the first meeting and remain the same throughout the term.
Required Texts and Materials:
Hitt, M.A., Ireland , R.D., & Hoskisson, R.E. Strategic Management: Competitiveness and Globalization . 7th Edition. South-Western Publishing Company, Cincinnati , OH .
St. Martin 's Pocket Guide to Research and Documentation, 3 rd Edition. Baldwin-Wallace.
Capstone®; Business Simulation "Studentr Guide."
Other materials distributed/assigned by the instructor.
The Wall Street Journal
Competencies:
This course requires oral and written communication skills, analytical reasoning, data gathering, data organization, and creativity. It will draw upon your past courses and serve as a vehicle for integrating your past areas of study into a holistic process, thus setting the direction for an organizational entity, a professional career or personal quest. More specifically, this course will focus on knowledge and skill development, as detailed below.
Knowledge:
- To understand the central significance of policy and strategy to top managers and their organizations. This means among other things, an understanding of how environments, external and internal, affect the functioning of an organization. It means an ability to evaluate environment so as to detect opportunities and threats in it to which alert managers must respond. It means an understanding of the processes through which managers can best determine those missions and objectives their organizations should seek; it means the ability to formulate and evaluate the best policies and strategies to achieve these ends, and the methods to assure that policies and strategies are implemented. An important aim of the course should be to underscore for the student the importance of implementation. The best of policies and strategies are ineffective if they are not implemented, and problems of implementation are far too frequently underestimated, both in teaching management subjects and in actual practice.
- To learn about and understand the interrelationships among subsystems in organizations and the problems top managers have in avoiding sub optimization of parts.
- To learn the limits of specialized knowledge for strategic problems.
- To understand better the uniqueness in settings and operations of different industries and individual companies.
Skills:
Students in the policy and strategy course should be expected to demonstrate such skills as the following in dealing with specific cases and in using the research findings presented:
- Size up quickly and accurately the situation presented in terms of identifying the core problems and/or issues; and in evaluating management's policy and strategy in relation to the environment, top management values, societal expectations, the financial position of the organization, and so on.
- Analyze facts to identify opportunities and threats in the environment and the strengths and weaknesses of the organization so as to get in a position to appraise managerial behavior and/or prepare a situation audit useful in formulating, evaluating, and implementing policies and strategies.
- Identify policies and strategies that are appropriate to each situation and evaluate alternatives in terms of all relevant criteria, top management values, societal expectations, internal financial, production, technical, and facility situations, and so on.
- Recommend specific courses of action in terms of (when appropriate) detailed strategies and plans, organizational changes, financial requirements and implications, timing, personnel relations, etc.
- To sharpen analytical skills acquired in functional areas -- production, finance, marketing operations research, personnel, etc. -- in dealing with problems of the total organization. This is the skill of integrating the knowledge a student has so as to deal with a total enterprise.
- Link theory and practice. Develop an understanding of when and how to use what tools, and their limitations, in particular problem-solving situations. As demonstrated in this course, there is a rich palette of tools (quantitative and qualitative) that decision makers can use. The student who can choose the most appropriate tools for analysis and know correctly how far to employ them in a particular situation has a highly valuable and marketable skill.
- In most policy/strategy courses students must prepare written analyses of cases and their recommendations for action. This presents an opportunity for both the instructor and the student to improve writing capability, a skill that has high market value.
- Policy/strategy courses provide an excellent opportunity for students to improve their oral skills in making presentations. In mind here is not only the art of expressive speech but of developing visual presentations. There is a definite art to doing both well, and the most effective abilities for each differ in the business and government world from those needed in the academic world.
Instructor-Student Objectives:
There are several additional overreaching objectives of the policy and strategy course that should be mentioned. One is to stimulate students to think for themselves in dealing with specific business problems without depending upon the instructor for "the answer." Another is to help students make a transition from the academic world to operations by providing them with the opportunity to deal with problems, patterns of thinking, and so on, that are encountered in the organizational world. Finally, the policy course should seek to give students a rich learning experience, which is achieved with pleasure and high interest.
A NOTE ON CASE ANALYSIS AND CLASSROOM DISCUSSION
There is no correct way to analyze or discuss cases. For most problems a manager faces, there are a number of possible and equally acceptable courses of action. Often, too, the decision as to what is the best course of action rests on one's values.
Instead of looking for the "right" answer or one about which there is a consensus in the class, students should be more concerned about identifying the critical problem; finding feasible alternative courses of action; evaluating alternatives in terms of available knowledge, concepts, tested practices, lessons of experience, and relevant scientific techniques; testing alternatives against evaluations of company strengths and weaknesses; developing detailed plans to determine the credibility of chosen policies and strategies; matching potential gains against calculated risks; thinking through carefully the timing of actions and how to make sure action is in conformance with plans; and so on.
More important than finding a "solution" is the analysis and interchange of ideas that take lace in the class discussion. There should be a maximum of discussion among students so that various views about the cases can be aired. Students need the opportunity to present their analyses and conclusions and to engage in debate for their peers in advancing their positions. The opportunity for students to think for themselves without domination from their peers and the instructor is important.
Students often find it is interesting to "update" cases in the sense of finding out what really happened after the end of the case. That is, of course, interesting but not vital. What one person did in the past is not germane to the analysis of the case itself. It may be interesting for students to compare their recommendations with those decisions actually made, however. Yet if there is a difference between the two, not too much can be concluded from the variation because circumstances change very quickly. Managers on the spot have more information at the time of a decision than students with only case materials, and in any event, no one really knows what would have happened had a different decision been made by either the students or the practicing managers.
In analyzing the cases, it is often helpful to identify the alternative strategies and your recommendation.
Course Requirements
Individual Assignments:
All students will complete an individual company and industry analysis and a written case analysis as a homework assignment. Instructions for these assignments will be provided at a later date. The last written assignment is a learning journal. See the end of this syllabus for details. Cases will be discussed in class.
Each assignment is worth 100 points, and the percentage of each assignment toward the total points is detailed below. The individual and group assignment percentages are as follows:
Individual Company and Industry Report 40%
Classroom Contribution 10%
Capstone®; 25%
Learning Journal 15%
Final Exam 10%
Total 100%
Final grades will be assigned according to the following scale.
94 - 100 A
90 - 93 A-
87 - 89 B+
83 - 86 B
80 - 82 B-
77 - 79 C+
73 - 76 C
70 - 72 C-
67 - 69 D+
64 - 66 D
60 - 63 D-
0 - 59 F
Absences:
It is important that you make every effort to attend class. You are permitted two unexcused absences . Students with three unexcused absences will be required to complete an additional assignment determined by the instructor on a student-by-student basis. This assignment will NOT add to nor contribute, in any way, to the final grade. However, if of poor quality, or not given the attention it deserves, it may result in a loss of points toward your final grade. This is based on the instructor's subjective evaluation of the each student's additional effort. Students with four or more absences must see the instructor immediately and discuss the reasons for and ramifications of the absences. Additional assignments may be required. Arriving 5 or more minutes after the class starts will be considered an absence.
Late Submission Policy:
Papers are due on the dates as shown in this syllabus. Late submissions are not the norm and may result in a loss of points for the assignment, depending on the quality of the work performed.
Academic Honesty Policy:
This course follows the policy on Academic Honesty established by Baldwin-Wallace College . Any student not following this policy for any assignment will receive 0 points for that assignment. See the College Catalogue and Student Handbook for details regarding cheating, plagiarism, etc.
Written Assignments:
ALL written assignments must be type written, double-spaced. All papers MUST follow APA format, exhibit a high degree of professionalism, and demonstrate a command of grammar and punctuation.
Disability-Related Accommodations:
Any student with a documented disability (for example, physical, learning, psychiatric, vision, hearing, and so forth) who needs to arrange reasonable accommodations must contact the instructor and the coordinator of disability services at the beginning of this semester.
Session 1 Monday, January 8
Topic: Introduction to Course and Group Formation
Preclass work: None
Session 2 Wednesday, January 10
Topic: Strategic Management and Strategic Competitiveness, Group Project Review
Preclass work: Read Chapter 1
Session 3 Monday, January 15
Session 4 Wednesday, January 17
Topic: The External Environment/Capstone®;®; Review
Preclass work: Read Chapter 2
Session 5 Monday, January 22
Topic: The Internal Environment
Preclass work: Read Chapter 3
Session 6 Wednesday, January 24
Topic: Stakeholder Analysis/Capstone®; Review: Worksheet /Practice Round 1
Preclass work: None
Session 7 Monday, January 29
Topic: Business Level Strategies and Capstone®; Review
Preclass work: Read Chapter 4
Session 8 Wednesday, January 31
Topic: Stakeholder Analysis: H.B. Fuller: Practice Round 2/WSJ/Sustainability Review
Preclass work: Read case
Session 9 Monday, February 5
Topic: Competitive Dynamics
Preclass work: Read Chapter 5
Session 10 Wednesday, February 7
Topic: Case Analysis, TBD: Practice Round 3
Preclass work: Read Case
Session 11 Monday, February 12
Topic Corporate Level Strategy
Preclass work: Read Chapter 6
Sustainability Paper Part I Due
Session 12 Wednesday, February 14
Topic Case Analysis, TBD: R1
Preclass work: Read case
Session 13 Monday, February 19
Topic Acquisition and Restructuring Strategies
Preclass work: Read Chapter 7
Session 14 Wednesday, February 21
Topic Case Analysis, TBD: R2
Preclass work: Read Case
Session 15 Monday, February 26
Topic International Strategy
Preclass work: Read Chapter 8
Session 16 Wednesday, February 28
Topic Case Analysis, TBD: R3
Preclass work: Read case
Session 17 Monday, March 12
Topic Cooperative Strategy
Preclass work: Read Chapter 9
Session 18 Wednesday, March 14
Topic Case Analysis, TBD: R4
Preclass work: Read Case
Session 19 Monday, March 19
Topic Corporate Governance
Preclass work: Read Chapter 10
Session 20 Wednesday, March 21
Topic Conference Board/ Rudman: R5
Preclass work: Read Handout
Sustainability Paper Part II Due
Session 21 Monday, March 26
Topic Organizational Structure and Control
Preclass work: Read Chapter 11
Session 22 Wednesday, March 28
Topic Case Analysis, TBD: R6
Preclass work: Read Case
Session 23 Monday, April 2
Topic Strategic Leadership/ Level 5 Leadership
Preclass work: Read Chapter 12
Session 24 Wednesday, April 4
Topic Level 5 Leadership
Preclass work: Read Handout
Session 25 Monday, April 9
Easter Monday-No Class
Session 26 Wednesday, April 11
Topic Corporate Entrepreneurship
Preclass work Read Chapter 13
Session 27 Monday, April 16
Topic Balanced Scorecard: R8
Preclass work Read Handout s
Session 28 Wednesday, April 18
Topic Creating Vision, Leading Change
Preclass work: Read Handout
Session 29 Monday, April 23
Topic Capstone®; Presentations
Preclass work: None
Learning Journal Due
Session 30 Wednesday, April 25
Topic Capstone®; Presentations
Preclass work: None
Session 31 Wednesday, May 2
Final Exam
1:00pm
Learning Journal Assignment
This assignment involves maintaining a journal and a written paper required near the end of the course. If you have never kept a journal, be sure to follow these guidelines. The purpose of the journal is for you to track your insights, learning and development throughout the course.
Pick a concept from the course reading or lecture material and write about this concept.
Apply this concept at work and see what develops. Dialogue with yourself about the results of this situation. What insights can be obtained? How did others receive it? Take as many perceptual positions as possible. Maintain a journal based on the above. The object of this process is to get in touch with your own process of thinking and developing, so you can consciously direct your growth, development and experiences to become more in all that you do. Fifteen (15) entries are required . Thus, you will need to double up on your entries at some point during the semester.
The written assignment is not just the function of handing in your journal to the instructor, nor summarizing the events you recorded. After reviewing your journal near the end of the course, write your summary paper answering the questions in the three sections below. Use the section headings MEANING, LEARNING, PROCESS OF CHANGE.
Meaning: Review the journal and look for the meaning it holds. What have you discovered about yourself, and what you're thinking? What will you continue to do the same or what will you do differently?
Learning: Review the journal and look for the learning you have gained. What do you know about yourself that you did not know at the beginning of this course? What was this learning? What does it tell you about yourself and your place in the organization?
Process of Change: Review the journal and look for the process of change you experienced. How did you change from the first day of this course as compared to the time of writing this journal paper? Did the process involve testing hypotheses, learning from experiences, dialoging with classmates, peers, and managers? What was it that you did that allowed you to change?
Turn in both your journal and the written summary near the end of the course. See the course schedule for the exact date.
Distinguishing Qualities of A Papers
- Superior content in support of a perceptive thesis.
- Clear, coherent, and concrete development of thought and markedly effective organization.
- Distinction in style-precise diction and a high degree of fluency and variation in sentence structure.
- Practically no errors in grammar and mechanics
The A paper is superior in thesis and content, distinctive in style, and free of errors in grammar and mechanics.
Distinguishing Qualities of B Papers
- Sound thesis and content.
- Effective organization and coherent development of thought
- Precise diction and fluent and varied sentence structure.
- Few and mostly minor errors in grammar and mechanics.
The B paper is sound but not superior.
Distinguishing Qualities of C Papers
- Satisfactory thesis and content.
- Competent organization and coherence with a reasonable if not wholly successful plan.
- Adequate style with clear statements and some variety in sentence structure and length.
- Relatively few errors in grammar and mechanics.
The C paper is competent but average.
Characteristic Weaknesses of D, F, and U Writing
- Weak content in support of an imprecise or confused thesis.
- Unsatisfactory progression of thought, no discernible plan of organization, and inadequate development of topics and sub-topics.
- Imprecise diction, awkward or unclear sentence structure, and excessive short simple or long disjointed sentences.
- Numerous errors in grammar and mechanics.
The D (or U) paper is unsatisfactory in content, organization, development, or grammar and mechanics. The F (or U) paper is outstandingly deficient in one or more of these.
UNDERSTANDING GRADES
Grading performance constitutes a complex and difficult process. While human beings cannot be pigeon-hold, they can be judged on the basis of effort and achievement, not effort alone. These descriptions attempt to explain why different students obtain different results.
The A Student- An Outstanding Student 90-100 points
- Attendance " A" students have virtually perfect attendance. Their commitment to the class resembles that of the instructor.
- Preparation "A" students are prepared for class. They always read the assignment. Their attention to detail is such that they occasionally catch the instructor in a mistake.
- Curiosity "A" students show interest in the class and in the subject. They look up or dig out what they don't understand. They often ask interesting questions or make thoughtful comments.
- Retention "A" students have retentive minds. They are able to connect past learning with the present. They bring a background with them to class.
- Attitude "A" students have a winning attitude. They have both determination and the self-discipline necessary for success. They show initiative. They do things that have not been told to do.
- Talent "A" students have something special. It may be exceptional intelligence and insight. It may be unusual creativity, organizational skills, commitment- or a combination thereof. These gifts are evident to the instructor and usually to the other students as well.
Results "A" students make high grades on tests-usually the highest in the class. Their work is a pleasure to grade.
The "B" Student- A Good Student 80-89 points
- Attendance "B" students attend most class sessions. In some cases, work or family obligations may cause them to miss class, but they are serious students.
- Preparation "B" students usually read and prepare assignments to at least get a general understanding of the material prior to coming to class. Their work is accurate but not reflecting a high level of attention to detail or creativity.
- Attitude "B" students express interest in the class and subject matter but lack the intellectual curiosity to probe deeply into the subject matter. They will often ask questions to clarify their understanding of the material. They demonstrate discipline in their approach to the class.
- Talent "B" students are usually above average in ability and intelligence. They may occasionally have difficulty with some aspects of the material but overall have a good grasp of the subject matter.
Results "B" students obtain consistently good but not distinguished results on tests. Most of their work is accurate but may lack in detail and certain specific information.
The "C" Student- An Average or Typical Student 70-79 points
- Attendance "C" students miss class frequently. They put other priorities ahead of academic work. In some cases, their health or constant fatigue renders them physically unable to keep up with the demands of high performance.
- Preparation "C" students prepare their assignments consistently but in a perfunctory manor. Their work may be sloppy or careless. At times, it is incomplete or late.
- Attitude "C" students are not visibly committed to the class. They participate without enthusiasm. Their body language often expresses boredom.
- Talent "C" students vary enormously in talent. Some have exceptional ability but show undeniable signs of poor self-management or bad attitudes. Others are diligent but simply average academic ability.
Results "C" students obtain mediocre or inconsistent results on tests. They have some concept of what is going on but clearly have not mastered the material.
The "D" Student- A Below Average Student 60-69 points
- Attendance "D" students frequently miss class and/or arrive late to class. The learning process and obtaining an education are low on their priority scale.
- Preparation "D" students are inconsistent in preparing for class and often miss turning in assignments on time.
- Attitude "D" students show a low level of commitment to the class. They seldom participate actively and are more likely to complain about the work that they have not done than spend time trying to learn the material.
- Talent "D" students vary greatly in talent. Some are very able but allow poor attitudes and lack of discipline to interfere with their class performance. Others may try to learn material but lack the academic ability or disciplined interest to succeed.
Results "D" students do poorly on tests. Their understanding of the subject matter shows little mastery of the course topics.
The "F" Student- A Failing Student 0-59 points
- Attendance "F" students attend class irregularly.
- Preparation "F" students consistently turn assignments in late or do not turn them in at all. They usually do not separate for class sessions.
- Attitude "F" students show no visible interest in the course material
- Talent "F" students are sometimes quite bright but are uncommitted to the class and lack self-discipline. Others may lack fundamental ability, at least as related to the subject matter.
Results "F" students usually obtain very poor exam grades and do poorly on other assignments.