Course Competencies
BUS 704
Policy, Planning & Strategy Systems
The student will be able to:
NATURE OF STRATEGIC MANAGEMENT
1. describe the roles of the general manager and the processes involved in general
management.
General Management
Processes
Not specific competencies:
Modes of Making
Strategy
2. describe, illustrate, and apply appropriately the general
strategic planning / management process, including the inter-relationships between the
various stages in the process.
The Strategic Planning
Process
Example of Relation
Between Mission, Objectives, Strategies, and Plan
3. relate each step in the general strategic planning model to specific roles and
processes of the general manager.
General Management
Processes
The Strategic Planning
Process
4. describe the differences between operating decisions and
strategic decisions in terms of risks and rewards.
Strategic Versus Operating
Decisions
5. clearly differentiate between and explain the importance of both long-term (strategic) planning and short-term (tactical) planning.
6. differentiate between the three levels of strategy: Corporate,
Business, and Functional Area, including the primary question to be answered and the
primary focus of each.
Hierarchy of Strategy
STRATEGIES IN ACTION
8. describe the thirteen alternative types of generic business
strategies and discuss when each would be appropriate.
David's Generic
Strategies
Not specific competencies:
Level of Integration
Between Two Organizations
Reasons to
Form Strategic Alliances or Joint Ventures
9. explain and apply the product/market relationships
(diversification) model.
Product/Market
Relationships Chart
10. demonstrate the relationships between product life cycle stage,
market share, competition, and appropriate strategies.
Product/Market Lifecycle
- Overview Chart
Product/Market Lifecycle
- Hofer Recommended Strategies Chart
Hofer - Definition of
Business Strategies
Hofer Related to David
Strategies
FAQ - Product/Market
Life Cycle
Sample part B - Life
Cycle
10A. describe and apply Porter's strategies for competitive
advantage.
Porter - Competitive
Strategies
Sample part B -
Porter’s Strategies for Competitive Advantage
FAQ - Porter's Strategies
For Competitive Advantage
10B. describe and apply Porter's five forces model.
Porter's Five Forces Overview
THE MISSION
11. expand on at least five reasons why a firm needs a mission statement.
12. list and define the major components of an effective mission
statement.
Mission Statement
Overview #1
Mission Statement
Overview #2
Example of Relation
Between Mission, Objectives, Strategies, and Plan
Mission versus Market
Sample part B - Mission
13A. interpret the concept of strategic corporate objectives and the
major types of objectives; and, be able to create and evaluate objectives in a case
setting.
Business Objectives
Example of Relation
Between Mission, Objectives, Strategies, and Plan
EXTERNAL ASSESSMENT
14. identify the impact of the key elements determining
organizational response to environmental forces.
Environmental Response
16. explain various major environmental trends in American society
(both current and historical) and their impacts on particular organizations and their
strategies.
Major External Long-Term
Trends
How
Business Generates Value With the Internet
Virtual
Teams
Virtual
Workplaces
YouTube Video (2007 updated to 2009)
17. assess and discuss the major external opportunities and threats
facing a specific organization.
SWOT Definitions
FAQ - Strengths,
Weaknesses, Opportunities, Threats
Opportunity versus Alternative
18a. describe and apply the Competitive Profile Matrix (CPM).
CPM - Competitive Profile
Matrix - Example
FAQ - CPM - Competitive
Profile Matrix
Sample part B - CPM
18b. describe and apply the External Factors Evaluation Matrix
(EFE).
EFE - Example
EFE - Factor Ratings
EFE - Meaning of Total
SWOT Definitions
FAQ - Strengths,
Weaknesses, Opportunities, Threats
19. create and develop appropriate strategies to deal with differing environmental trends and conditions.
INTERNAL ASSESSMENT
20. assess and discuss the major internal strengths and weaknesses
of specific organizations.
SWOT Definitions
FAQ - Strengths,
Weaknesses, Opportunities, Threats
Not specific competencies:
Experience Curve
21. describe and apply the Internal Factors Evaluation Matrix.
IFE - Example
IFE - Factor Ratings
IFE - Meaning of Total
SWOT Definitions
FAQ - Strengths,
Weaknesses, Opportunities, Threats
22. demonstrate the relationship between how a market is defined,
market share, and appropriate strategies.
Market Share Theory
Market Share Examples #1
Market Share Examples #2
Example of
Market Definition
Mission versus Market
FAQ - Market Definition
& Market Share
Sample part B - Market
Share
STRATEGY ANALYSIS AND CHOICE
23a. explain and apply the Boston Consulting Group (BCG) cash
use/generation model.
BCG Overview
Sample part B - BCG
FAQ - BCG
23b. explain and apply the General Electric (GE) Planning Grid.
General Electric Matrix
(new)
General Electric Matrix
(old)
Market Characteristics
Example GE Industry
Attractiveness
FAQ - GE Matrix
Sample part B - GE
24. explain and apply David's Internal/External Matrix.
Internal-External Matrix
Internal/External
Recommendations
Sample part B - I/E
25. recognize the importance of organizational culture in the strategic decision-making process.
26. view an organization from a strategic perspective and explain
the inter-relationship of the various parts of a business and their impact on strategy.
Example of Relation
Between Mission, Objectives, Strategies, and Plan
IMPLEMENTATION
28. compare and contrast strategy implementation with strategy
formulation.
General Management
Processes
29. discuss the medium-term planning process, the role of management
in the process, and the relationship between medium-term planning and the other parts of
strategic management.
Example of Relation
Between Mission, Objectives, Strategies, and Plan
30. describe the budgeting process, the role of management in the
process, and the relationship between budgeting and the other parts of strategic
management.
Example of Relation
Between Mission, Objectives, Strategies, and Plan
31. demonstrate the role of organizational structure in strategy implementation.
32. recognize the limitations that organizational culture has on
implementation and devise methods to overcome such problems.
Not specific competencies:
Strategies
For Change
34. discuss how functional strategies relate to corporate and
business strategies and be able to evaluate and create appropriate functional strategies
for specific organizations.
Functional Roles in
Achieving Superior Customer Responsiveness
Functional Strategies
Finance and Accounting:
Functional Strategies
Human Resources: Functional
Strategies
Information Systems:
Functional Strategies
Marketing: Functional
Strategies
Production/Operations:
Functional Strategies
Research & Development:
Functional Strategies
Not specific competencies:
Sources of Competitive
Advantage
Methods of Valuing a
Business for Purchase or Sale
EVALUATION AND CONTROL
35. explain the importance of strategy evaluation and control, the general model for
evaluation, and the relationship of strategy evaluation to the roles and processes of the
general manager.
General Management
Processes
36. describe and apply Richard Rumelt's four criteria for evaluating
the effectiveness of a strategy.
Rumelt's Criteria
FAQ - Rumelt's
Evaluation Criteria
37. discuss various quantitative and qualitative methods of
measuring strategic organizational performance.
Business Objectives
Rumelt's Criteria
38. explain how to effectively use contingency planning.
THE CASE METHOD
Objectives
of Cases in BUS 704
Suggested
Approach to Writing Cases for BUS 704
FAQs Preparing Cases For
BUS 704
The Capstone Course for
the MBA Program
39. approach management problems from an overall (generalist)
viewpoint and thoroughly analyze the situation and various alternatives before proposing a
solution.
Not specific competencies:
The New Business and
Professional Advisors
40. formulate and analyze a variety of alternative solutions to any
management problem.
FAQ - Alternatives
Opportunity versus Alternative
41. write a well-organized, persuasive, and grammatically correct analysis and proposal.
42. evaluate how the setting and situation affect the managerial
decision-making process.
Miles & Snow -
Organizational Types
FAQ - Miles & Snow
Strategic Problem &
Issues
Stakeholder Analysis
Stakeholder Example
43. effectively and accurately apply strategic theories to specific
case situations.
Tools for Cases
Checklist - What
Is Strategy?
FAQ - Question 4 -
Recommendation & Support
Sample Answer With
Headers For Question 4 for BUS 704
Sample Outline Question
4A for BUS 704
Sample Question 4 for
BUS 704 (old style)
- Revised 12/2009 -