COURSE SYLLABUS MGT 480 (formerly 111) STRATEGIC ...studentportal.enderuncolleges.com/files/MGMT_480... · Mgmt 480, Dr. Masters, Syllabus June 2009 R5 P. 1 of 12 COURSE SYLLABUS

Mgmt 480, Dr. Masters, Syllabus June 2009 R5 P. 1 of 12

COURSE SYLLABUS

Course No. MGT 480 (formerly 111)

Course Title STRATEGIC MANAGEMENT AND LEADERSHIP

Professor: Provost Lance A. Masters, Ph.D., C.M.E.

Office Hours: Tues 2:30 – 3:30 and by appt. I hold office hours in the Library.

Telephone: 856-5000 x511 (Office); Exec. Asst. is Mrs. Betty Nogpo

e-mail Address: [email protected]

Required Text: Strategic Management, 12th Edition, by David www.prenhall.com/david

Pre-Requisites: Principles of Management, Principles of Marketing, Basic Finance, Human Behavior in Organizations, Business Communications.

Course Credit: 3 semester units, which means that you should expect to spend more than twice that outside of class, in preparation.

Class Type: Lecture/discussion, Written Case Analyses, Presentations, and more.

Emergencies: Nurse and first aid are near the classroom on the second floor of the Museum building. Ms. Devine Salcedo is our school nurse. Both she and my assistant, Mrs. Betty Nogpo, are both licensed and fully qualified RN’s.

Ambulance: Call 640-222 Taguig police/hospital. Notify campus security immediately.

COURSE DESCRIPTION

Strategic Management & Leadership is the capstone, integrative course for graduating H.A. students. It is an exciting course, tremendously challenging and unusually demanding. It deals with the formulation of ideas and strategies to solve organizational challenges, to close performance gaps and especially to develop strategies that fulfill the organization’s mission. Accordingly, it considers the organization’s mission, vision and purpose, its realities and contexts, the alternative means by which it might better fulfill its purposes and live its mission, the selection of complicated solutions to solve complicated problems, their implementation, monitoring, control & evaluation, continuously improving the outcomes versus the organizations objectives.

Dr. Henry Mintzberg defined strategy as "a pattern of actions and decisions over time, which defines a company's competitive position." Put in more concrete terms, strategy is the plan to achieve one’s objectives. Strategic management is the process of creating, implementing, and evaluating, (and repeatedly re-evaluating) the firm’s strategy. This course emphasizes applications in the International Hospitality industry.

http://www.prenhall.com/david


All of the courses prior to this one are, in a sense, preparatory to this course. This is in no way intended to de-value or demean Accounting, Finance, Organizational Behavior, Business Communications, Operations, Management, Marketing, Finance and so forth. They help you analyze facts and impressions, better organizing and prioritizing information. You will need to use all the knowledge acquired from prior courses, especially business courses, coupled with new strategic management concepts and techniques. What is most different about this course is that it integrates your learning from those previous courses and requires you to take it to a higher level – that of synthesis – to apply it in solving complicated problems that have dimensions from several areas simultaneously. We deal with NO problems that are exclusively from one domain; all are multi-attribute and therefore complicated. All of the solutions to problems require MANY things to be considered and DONE. The major responsibility of students in this course is to make sound strategic decisions – those that have the greatest futurity – and justify them through oral, visual and written communication.

The principles of strategic management are elucidated through reading and developing a careful understanding of the text materials, amplified by class discussions. You simply MUST read the text AND THINK about the text materials before coming to class. Don’t bother highlighting your text; highlighting only helps find things, and then only if you write down besides it what it is. Instead, write down the key concepts that you need to know. Write out questions and their answers. You must be prepared for class each and every class day or you will be in serious difficulty that will be very, very difficult to overcome. You MUST prepare each case analysis before class. It is far more than mere reading; it actually requires serious, complicated thinking and analytical work! For this course, there are no simple and easy right answers. There are in-depth, logically coherent analyses that encompass all elements of the situation. You are expected to spend far more time thinking, considering, writing and discussing, along with reviewing and integrating previous course material, than simply reading. Bring your textbook, your notebook and pens/pencils to class each day.

Strategic Leadership trains and molds future leaders to be strategic in their thinking, efficient and advanced in decision making, organizing, leading and controlling, both quantitatively and qualitatively.

Objectives and Learning Outcomes

By the end of this course, the students are expected to:

1. Perform reliable internal and external environmental analysis, applied to problems in practice;

2. Apply appropriate analytic tools in order to understand the competitive position of a company and what might change it.

3. Identify sources of current and potential competitive advantage;

4. Critically evaluate underlying theories, concepts, assumptions from major fields of study, recognizing their limitations;

5. Conduct research using library, web and other sources, demonstrating information literacy and the ability to use information effectively;

6. Demonstrate an ability to think strategically about a company, its present business position, its long-term direction, its resources and competitive capabilities;

7. Demonstrate competent integration of knowledge gained in earlier core courses, showing how the various pieces of the puzzle fit together, demonstrating why and how the different parts of a business need to be managed in harmony for the organization to operate in winning fashion;


8. Demonstrate skills in conducting strategic analyses in a variety of situations; showing understanding of the challenges of a global market environment;

9. Formulate several viable alternative strategies that build on an organization’s strengths in relationship to the environmental opportunities that can be surfaced;

10. Demonstrate appropriate application of various classical corporate strategies, such as horizontal, vertical, concentric diversification, forward and backwards integration, and so forth;

11. Demonstrate the degree to which industry structural characteristics determine or strongly influence organizational performance and the adjustments needed to deal with those contexts, including the relationships between strategy or strategies and organizational structure;

12. Develop and articulate coherent arguments when recommending solutions to complex problems, making sound decisions and achieve effective outcomes;

13. Negotiate and create shared understandings by respectfully interacting with people from diverse backgrounds;

14. Demonstrate managerial ability associated with implementing strategies and the range of actions managers can take to promote competent strategy execution, by demonstrating ability to monitor, evaluate and control strategies that were formulated & implemented;

15. Identify and improve a firm’s Key Result Areas resulting in organizational effectiveness, and in consideration of Total Quality Management and Continuous Improvement;

16. Confidently and coherently communicate to a professional standard, orally, graphically and in writing;

17. Practice social responsibility as part of your role in nation-building and alleviating society from poverty. Evaluate the links between ethical behavior and firm performance.

Expectations of Students

Attendance: Because of the importance of in-class participation, class attendance is crucial. Class attendance is recorded at the beginning of class only. Five or more absences may result in a failing grade for the course. See “Policies on Absences and Cuts,” following this section.

Promptness: Classes begin on time. Tardiness, however slight, will count as absence.

Undertime: Students should not leave the classroom once the class has started, except for bonafide emergencies. Attend to personal necessities prior to class. A student who leaves or is dismissed by the professor prior to the ending of the class may be marked absent, at the sole discretion of the professor.

Preparation: Active student participation is critical to our learning experiences. You MUST read and understand the assigned material before class and be prepared to contribute to class discussion.

Class participation: Members of the class will be called on for their comments. You will be graded on content and delivery.

Courtesy: Side conversations are rude distractions and will result in significant sanctions, including low marks for participation, as well as being embarrassed by the professor. Turn off your cell phone before class begins. NO calls; NO texts.

Computer use: The professor will tell you when it is permissible to use your computer during class and for what purpose(s). No Facebook; no i-chat, etc.


Food, beverage and comfort. Food and beverage are welcome in the classroom, provided that you bring plenty and share generously with the entire class. Use the comfort room before class.

You are expected to observe the Enderun Dress Code and abide by the Student Handbook. Just like on the job, professionalism is a habit. You have one week to be in complete conformance with the Enderun Standard. Following that grace period, lack of conformity will reduce the participation grade or result in dismissal from class.

Honor Code. Academic honesty is required. Any submission or presentation of work done by others must be properly represented and cited. You may use publicly available, outside sources for information on cases. I use “turnitin.com”. Cheating on exams may result in a failing grade for the entire course. If you cheat, you will probably be caught and the consequences are just not worth it.

I call on you to lead an exemplary life, demonstrating your worthiness to be a leader and to be the graduate who has become “The Enderun Man” or “The Enderun Woman.”

Disability Assistance. I am committed to making reasonable adjustments necessary to eliminate discrimination on the basis of disability. If you have any special requests related to documented disability or any special circumstances, please see me as soon as possible so that we may consider your request in a timely manner.

The midterm exam will cover material from the lectures and discussions, readings and exercises. The final will be a comprehensive case.

There are twelve cases to be read, analyzed and discussed in class. For each, you will need a two page summary, emailed in advance of the class and hard copy turned in at the end of the class.

Each individual will write up two different cases; signup sheets will be made available.

Policy on Absences and Allowable Cuts: (With thanks to Ms. Bel Castro)

ABSENCES: Students are expected to attend all classes. However, we recognize that there will be times when students do miss class. In all cases, the student is ultimately responsible for all materials, assignments, and so forth. Your professor recognizes three types of missed classes – Approved Absences, Excused Absences, and Unexcused Absences.

Approved Absences

Defined: Approved absences are granted when there are scheduled, college-approved events that require students to miss class. Examples include: academic conferences, class field trips, competitions, and class-required attendance at special campus events.

Required attendance at a scheduled event sponsored by Enderun College organizations recognized by the college will be considered approved absences if they have the endorsement of the organization's faculty advisor and the Office of the Provost or Dean of Students. Competitions and class related trips or events are also considered approved absences (in no case should students miss class to attend practices or rehearsals). The sponsoring faculty advisor should notify the faculty of the anticipated missed classes in a timely fashion (usually no less than 48 hours prior to the scheduled absence). Such notification will include the list of all participants who will be missing class.

In all cases, approved absences require prior approval and appropriate written documentation must be provided. If no documentation is provided in due course, the absence will count as unexcused.


Policy: For approved absences, students are expected to personally inform the instructor in writing by email in advance of the planned absence. This notice should be given no later than the last class before the anticipated absence. If a student fails to notify faculty in advance of approved absences, the absence may be considered unexcused. Faculty will work with students to allow them to complete appropriate make-up work, but students bear the ultimate responsibility for all missed class material.

Excused Absences

Defined: Unexpected events that result in missing class. Examples may include: School approved quarantine for containment or treatment of A(H1N1), significant illness or injury, death in the immediate family, and severe weather conditions (not just ordinary rainy day, but a typhoon with official warning status).

Policy: When unexpected events cause students to miss class, faculty may decide to allow students to either make-up the missed material or assign appropriate substitute material by recognizing the absence as an excused absence. I usually require verification of the event (injury, death, etc). The professor renders the final decision on what constitutes an excused absence.

Students who are unexpectedly absent from class should attempt to notify the Business Center as soon as is reasonably possible. Contact a classmate to find out what was covered in class.

In cases of extended excused absences, I will work with the student to insure that academic requirements may be fulfilled. Students bear the ultimate responsibility for all missed class material.

Unexcused Absences

Defined: Absences which are not “approved” or “excused” shall be considered unexcused absences.

Policy: Unexcused absences are a serious breach of class expectations and may result in significant sanctions, including failure on the entire course participation element. Excessive unexcused absences will likely result in course failure.

Students who abuse the approved and excused absences policy will be considered to have committed academic misconduct. Examples of abuse include falsifying an illness or family emergency, falsely claiming that attendance at the event is required, falsely claiming to have attended an event, or falsely claiming that an absence is College approved. If the professor determines that a student is guilty of such an abuse, it will be treated as a serious breach of academic conduct, similar to cheating on a major exam.

ON ALLOWABLE CUTS

In this course, there are no allowed cuts, only approved, excused and unexcused absences.


COURSE CONTENT

Date TOPIC or ACTIVITY Text

Tues June 23 Strategic Management: An Introduction

Tues July 7 Strategic Management: An Introduction

Fri July 10 The Nature of Strategic management Chapter 1

Tues July 14 Vision and Mission Chapter 2

Fri July 17 External Assessment Chapter 3

Tues July 21 Internal Assessment Chapter 4

Fri July 24 Strategies in Action Chapter 5

Tues July 28 Strategy Analysis and Choice Chapter 6

Fri July 31 Strategy Analysis and Choice Chapter 6

Tues Aug 4 Implementing Strategic Management Chapter 7

Fri Aug 7 Implementing Strategies Chapter 8

Tues Aug 11 Implementing Strategies Chapter 8

Fri Aug 14 Strategy Review, Evaluation and Control Chapter 9

Tues Aug 18 Case methodology

Fri Aug 21 Midterm Review All

Week of Aug 24 Midterm exams All

Tues Sept 1 Go over Midterm

Fri Sept 4 Advanced Case Methodology

Tues Sept 8 Krispy Kreme Doughnuts

Fri Sept 11 Coca Cola Company

Tues Sept 15 Anheuser-Busch

Fri Sept 18 Waterford-Wedgwood PLC

Tues Sept 22 Wendy’s International

Fri Sept 25 McDonald’s Corporation

Tues Sept 29 Continental Airlines

Fri Oct 2 Southwest Airlines

Tues Oct 6 MGM Mirage

Fri Oct 9 Marriott International

Tues Oct 13 Starwood Hotels

Fri Oct 16 Wesley United Methodist Church

Tues Oct 20 Flex day – catch up, etc

Fri Oct 23 Course review

Week of Oct 26 Final exams


METHODOLOGY

Case Analysis for Learning:

As in most strategic management courses, this course uses cases as a primary learning tool. Case analysis affords opportunities to identify and solve organizational problems through use of the strategic management process. The printed cases involve actual companies. Presented within them are problems and situations that real world managers had to assess and make decisions about. Basically, the case analysis method calls for a careful understanding and exposition of the organization’s current conditions (internal and external), a clear and articulate explication of the fundamental strategic problem, development and explanation of several VIABLE alternative solutions, including a balanced consideration of the advantages and disadvantages of each or strengths and weakness of each, then a forceful recommendation of which is the best course of action and why, and finally and extremely importantly, clear steps in implementation. Appropriate actions not only allow a firm to survive in the long run, but also describe how it can develop and use core competencies to create and use competitive advantages and earn superior profits or other outcomes that are valuable to the organization.

The case method is based on a philosophy that combines knowledge acquisition with significant participant involvement. Cases keep conceptual discussion grounded in reality. A case presented in narrative form provides motivation for involvement with, and analysis of, specific situations. During the case discussion, we will listen, question, and probe to extend the analysis of case issues. In the course of these actions, we may challenge an individual’s views and question the validity of alternative perspectives that have been expressed. Among our intents are to further develop analytical and communications skills, as positively as possible. However, it is common for feelings to be bruised when situations are poorly understood, problems are inaccurately diagnosed, alternative solutions are not developed fully, choices are recommended based on faulty analyses and, most commonly, consideration of implementation is left for last, resulting in solutions that simply won’t work.

Case grading considers many factors, including: o Comprehensiveness and thoroughness in applying the strategic management models; o Completeness and accuracy of analysis; o Application of appropriate analytical models/techniques o Incorporation of immediate and long-term perspectives o Clear distinction among fact, opinion, and personal inferences in analysis and

conclusions/implications o Key underlying assumptions are recognized, supported and tested where possible. o Strategic implications identified clearly, concisely, and thoroughly o Innovative and creative thinking incorporated within realm of the practical o Recommended solutions/strategies/directions that included priorities and acknowledged

constraints, presented a solid implementation plan with realistic timetable, and o Skill in communication, when presented before the class.

Your oral presentation will be graded on two parts: content and delivery. Content includes whether your presentation was accurate, complete, specific, detailed, and error free. Were appropriate analytical tools included? Were they correct? Were your recommendations specific? Did you show clearly how your recommendations could be implemented? Tell exactly when, how, where, and why your recommendations are appropriate.


Delivery includes whether your case presentation was interesting, lively, special, upbeat, and clear. Were your visual aids readable from the back of the class? Did you use color to highlight points? Were your voice tone, eye contact, posture, and appearance good? Were handouts, slides, the blackboard, PowerPoint, videos or flip charts used to make your oral presentation as interesting and informative as possible? Note well: DO NOT READ ANY PART OF THE PRESENTATION (except perhaps the mission statement).

Text of the two longer papers can be no longer than fifteen A4 pages, 12 point Times New Roman or Arial type font, with 1.5 line spacing and 1” left and 1.75 right margins. I simply do not recall ever seeing a good paper that was fewer than about eight pages, although I believe that it is possible. Addenda, appendices, and supporting data are not included in the fifteen page limit. The supporting material should be directly relevant and graphic material should have the “ah-hah!” factor. Each person will present their longer papers orally as though it were a Consultant’s Report commissioned by a “Board of Directors” composed of other students and the Professor. These reports require a considerable outlay of preparation time; plan accordingly.

Writing assignments are evaluated both for content and for style. Students are expected to turn in papers free from errors of grammar, spelling and style. Use formal language (not colloquial or conversational). Cite sources accurately and completely.

Short case discussion notes: to be prepared to participate n the class discussions, you must always prepare the cases. But, instead of a long and complete paper, you will instead prepare a two page outline for each case. It must include the problem statement, three to five alternatives, your recommendation and an implementation chart of what has to be done and when.

Written case analyses will have the following elements:

Introduction: Assume that I am familiar with the case, and don’t waste time beyond articulating the mission, vision, SWOT, and a summary of financial ratio trends (that’s right, trends. Most financial ratios reveal much more when viewed in the context not only of the industry standards but also over time.) A page of text plus an attachment showing the F.A. trends should suffice.

Financial ratios that may be valuable include:

Growth rate: 5-year annual sales average

Earnings per Share (EPS)

Gross Profit Margin and Net Profit Margin

Debt/Equity Ratio

Current P/E Ratio

Current Ratio

Return on Equity

Return on Assets

Inventory Turnover

Management Efficiency (Income/Employee) – Annual company reports usually provide information about the number of employees in the organization.

Net Worth Analysis o Stockholders’ Equity + Goodwill = o Net Income X 5 = o Share Price = o Number of Shares Outstanding x Share Price =

EPS/EBIT analysis to show how strategy could be financed.

You may also want to understand “non-deferrable” expenses, especially for firms that are in a cash bind.


Clear exposition of the problem, phrased as a gap. (One paragraph) Keep in mind that a problem is a difference between reality and the desired state of affairs. Be very careful to articulate such a gap and be very careful to not use some proposed solution to an unstated or implied problem as the problem statement. Here is an example of a problem statement: “In this case, the organization is found to be on the brink of financial collapse, in opposition to its mandate to return fair earnings to its shareholders and great value to its customers. While there are several aspects of the case material that suggest other matters are compelling and urgent, if the organization does not craft and implement a strategy that addresses its financial situation, the organization will be bankrupt and even possible cease to exist.”

Here is an example of a statement that is NOT a problem statement: “The problem is that they do not have enough people to get the job done.” This statement implies that something isn’t done when somebody wants it done, and that the best or maybe only thing to do is to have more people do whatever that might be. But, we do not know what the performance gap might be, if any, let alone have had the opportunity to explore options for solving the gap. We will discuss this in considerably more depth in class. Incidentally, none of our problems will be anywhere near that simple!

Alternative solutions: write out three paragraphs per each of a minimum of three alternatives, and a maximum of five alternatives. Note that most good ideas are actually combinations of more simply ideas. Therefore, each alternative should be complete and viable; otherwise it is a waste of time. The first of these three paragraphs should explain the complicated alternative and how it addresses the problem. The second paragraph should consider the advantages of the idea, and the third the disadvantages of the idea. Be very careful to be impartial in your analysis; do not sell an idea at this point. Usually, it will take you a page or two to articulate each alternative solution.

Recommended solution: this should be a good paragraph or two, in which you explain why one idea is better than the others. This is where you can “sell” the idea that you think is best, but your analyses should provide the evidence such that “sales talk” is even superfluous.

Implementation: Good ideas require clear thinking about what it will take to implement them. Too often it turns out that what seemed like a good idea actually isn’t practical, due to one or more limitations that failed to surface in earlier analysis. You must spend a good bit of time and space identifying the tasks to be accomplished and their timetables for putting your recommendation to work. I recommend that you use a project management approach to this, which you can present in the form of a table, a Gantt chart, CPM, or other such summary. Usually, the implementation section of your paper will take a page or two.

QUANTIFIABLE MEASUREMENTS

Philosophically, I am not terribly interested in grading and I recommend that you focus on learning rather than assessment. At this level of your education, your primary purpose is to try things, make mistakes and learn from them. If you work to get a “1” but fail to learn how to think strategically, you might have won on paper but you still lost the more important strategic benefit. This is your time to develop and test your judgment, to have experience without killing businesses or destroying your company. When you are out in the real world, your decisions will have consequences on you, your customers and your co-workers and, by implication, on all those whom they touch, such as their families. In other words, the implications and consequences then are far greater than now, in class. Finally, if this course isn’t both fun and challenging, then both you and I fail.


Class Participation 20% Experiential Exercises 10% Case Analyses / Papers / Presentations 40% Midterm Exam 10% Final Exam 20% Total 100%

Late assignments are not accepted, even if you have an excused absence from class. Get your work in on time or in advance. If you submit your work early (in writing, electronically), I will be more than happy to give you formative feedback (by voice – phone or in person). All work to be graded must be submitted both electronically (email in MS Word or PDF) and by hard copy, and on time.

Extra credit is not given, so don’t ask. You will not have time to do more than what is assigned; simply do your best on everything. Everyone starts with ZERO and gets credit for what they do right and what they do well.

Incomplete Grade: Do not ask for consideration for a grade of Incomplete in the course unless you have serious and documented personal problems very close to the end of the term. I am strict about the assignment of an Incomplete. An incomplete (I) grade will be considered only if more than 60% of the written work and exams has been completed, the student has a grade of “2” or better, and only on written request, including documentation of your compelling reasons. I am not required to grant the request.

Exams: There are two exams. The midterm covers the entire nine chapters of the textual material of the course. The final exam is a comprehensive case. Make up exams are not available, except under extreme and well-documented emergencies (proof that your Mom died that morning would be an example of an acceptable excuse, but a flat tire, bad traffic, etc. will not cut it). Make up exams are always much more difficult than scheduled exams, and always include a live, oral examination experience (stand and deliver) with the professor. Plan your life accordingly.


Grade Point Qualitative Description

Quantitative Description

1.00 Excellent 97% - 100%

1.25 Very Good 94% - 96%

1.50 Good 91% - 93%

1.75 Above Average 88% - 90%

2.00 Average 85% - 87%

2.25 Below Average 82% - 84%

2.50 Satisfactory 80% - 81%

2.75 Needs

Improvement 77% - 79%

3.00 Pass 75% - 76%

4.00 Conditional (Midterm only)

5.00 Fail Below 75 %

Inc Incomplete An Incomplete (INC) means that the student’s class standing is passing but that he has failed to submit an important requirement for a reason acceptable to the instructor. The student may be given up to one semester to complete the requirements. If the requirements are not completed within the time allotted, the INC automatically becomes a failing grade.

DRP Dropped Dropped (DRP) means that the student officially dropped the subject within the prescribed period of time set by the Provost’s Office.

DF Dropped Failed Dropped Failed (DF) means that the student incurred excessive absences but has not officially dropped the subject. DF is convertible to a grade of 5.00 in the GPA computation.


SUGGESTED READING and REFERENCES

TITLE AUTHOR(S) PLACE OF PUBLICATION

PUBLISHER DATE

Management Robbins, Stephen; Coulter, Mary.

New Jersey Pearson Prentice Hall 2005

Operations Management for Competitive Advantage.

Chase, Richard B, Jacobs, Robert ; Aquino, Nicholas J.

New York McGraw Hill/Irwin 2004

Essentials of Organizational Behavior 9/e

Robbins, Stephen P. and Timothy A. Judge.


Financial Management : Principles and Applications 10/e

Keown, Arthur J. et al New Jersey Pearson Prentice Hall 2005

Marketing for Hospitality and Tourism 4/e.

Kotler, Philip, John T. Bowen and James C. Makens


Business Communication : Building Critical Skills 2/e

Locker, Kitty O. and Stephen Kho Kazmarek

New York McGraw Hill 2004

Art and Discipline of Strategic Leadership

Mike Freedman with Benjamin Tregoe

New York McGraw Hill 2003

Multinational Management: a Strategic Approach

Cullen, John B. Ohio Thomson 2005

Operations management : strategy and analysis

Kravensky, Lee J. New Jersey Pearson 2002

Documents

COURSE SYLLABUS MGT 480 (formerly 111) STRATEGIC ...studentportal.enderuncolleges.com/files/MGMT_480... · Mgmt 480, Dr. Masters, Syllabus June 2009 R5 P. 1 of 12 COURSE SYLLABUS