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1、STRATEGIC MANAGEMENT,PROFESSOR SCHOOL OF MANAGEMENT FUDAN UNIVERSITY 2002.9,1,CLASS OVERVIEW,2,COURSE OVERVIEW,WE TRY TO INTRODUCE THE BASIC CONCEPTS, FRAMEWORKS AND METHODOLOIES USEFUL TO MANAGERS FORMULATING AND IMPLEMENTING BOTH BUSINESS UNIT AND CORPORATE LEVEL STRATEGY. PROBLEM SOLVING DRIVEN T
2、HAN TRADITIONAL THEORETICAL DRIVEN LECTURE, CASE STUDY,GUEST SPEAKER, TEAM PROJECT TOGETHER,OVERVIEW,3,READINGS AND TEXTBOOK,Sharon M.Oster, “ Modern Competitive Analysis” Michael A. Hitt, R Duane Irelandand Robert E. Hoskisson “ Strategic Management” Readings and Cases,OVERVIEW,4,GRADING The class
3、will graded as follows: Class participation 30% Group project 20% Written assignments 20 % Final exam 30%,OVERVIEW,5,CLASS PARTICIATION Offering your analysis of the strengths and weaknesses of the readings central argument. Identifying the key issues, problems and opportunities facing the central p
4、rotagonist, to articulate and evaluate alternative approaches to the problems, and to describe the course of action that you recommend and the reasons for your recommendations.,OVERVIEW,6,TO BE A GOOD PARTICIPANT,Is the participant a good listener? Are the point made relevant to the discuss? Are the
5、y linked to the comments of others that the class is exploring together? Do the comments add to our understanding of the situation?Are they incisive?Do they cut to the core the problem? Is there a willingness to challenge the ideas that are being expressed? Is there a willingness to test new idea, o
6、r are all comments” safe”? Does the participant integrate material from past classes or the readings where appropriate? So the comment reflect cumulative learning over the course, or does the participant merely consider each case in isolation?,OVERVIEW,7,STUDY GROUP Porter analysis of industries and
7、 competition; search for profitable niches and industries; run from tough competition 1980s-1990s -emphases on cultivating organizational capabilities rather than just positioning: notion that firms can create their own good fortune,CLASS ONE,13,THE FALLACIES OF STRATEGIC PLANNING,The fallacy of pre
8、diction The fallacy of detachment The fallacy of formalization,CLASS ONE,14,SOME KEY POINTS FROM THE STRATEGY HISTORY,Competition provides the rationale for strategy competition occurs whenever resources are finite and competitors objectives are mutually inconsistent Our priority in strategy formula
9、tion will be less on” playing competitive games” through anticipating competitors move and engaging in bluff and counter bluff,threat and deterrence, and much more on seeking insulation from the uncertainties of competitive interaction by establishing a position of sustainable advantage over rivals.
10、 Strategy is a deliberate search for a plan of action that will develop a businesss competitive advantage and compound it,CLASS ONE,15,THE DIFFERENT CONCEPTS OF STRATEGIES,Strategy as Plan Strategy as Ploy Strategy as Pattern Strategy as Position Strategy as Perspective,CLASS ONE,16,THE ROLE OF STRA
11、TEGY,Strategy as a support for decision making Strategy as a vehicle for coordination and communication Strategy as target,CLASS ONE,17,STRATEGIES,Cooperate strategy Business strategy Functional strategy,CLASS ONE,18,THE STRATEGY MAKING PROCESSS,Criticism of the “Rationalist”approach Strategy making
12、 as “ Crafting” Strategy intent,CLASS ONE,19,STRATEGY SPECTRUM,Deliberate Strategy Emergent Strategy Analytical “ Crafting” Formal Planning Pattern of action Inflexible flexible incremental change Radical change possible,CLASS ONE,20,QUESTIONS TO DISCUSSION,1. Why are there different definitions of
13、“strategy”? How do they relate to each other? 2.How has the field of strategy evolved over the past several decades? How have the emphases changed? 3.What are the features of a successful strategy according to Grant? 4.How does Mintzberg view strategy? What is his major argument? Do you agree? 5. Ho
14、w does “strategic intent ”differ from “strategic planning”? 6. What do Hamel and Prahalad criticize about common approaches to strategy in U.S. firms?,CLASS ONE,21,CLASS TWO,22,SOCIETAL ENVIRONMENT,Economic environment Technological environment Political-Legal environment Sociocultural environment,C
15、LASS TWO,23,TASK ENVIRONEMENT,Marketing analysis Competitor analysis Supplier analysis Governmental analysis Community analysis Interest group analysis,CLASS TWO,24,INDUSTRY ANALYSIS-COMPETITIVE ANALYSIS,Industry Rivalry among existing competitors,Substitute,Potential entrant,Supplier power,Buyer po
16、wer,CLASS TWO,25,Rivalry (Intensity of competition),Intense rivalry reduces average profitability Coordination on prices can increase total profits within an industry Where coordination yields excess profits, there are incentives to shade (cut) prices a bit to increase market share Large number of competitors reduce coordination opportunities Rivalry usually more intense if firms are of the same size,CLASS TWO,26,The more similar firms ar
