An advanced course covering the development and use of strategic management concepts in successful organizations within dynamic and diverse environments.
The course format is based on student-centered discussion groups/teams and will depend on open and enthusiastic participation. The course is taught experientially in a workshop format: short lectures followed by small group exercises and class discussions related to the readings and to real world cases.
Class sessions will be used to review and discuss the assigned readings, present new information, focus on strategic management issues, discuss assigned questions, and analyze assigned cases; in short, class time will be used to develop a foundation and awareness of strategic management concepts as reflected in organizations and then apply them to a series of case studies. Collaborative work is encouraged and expected --- work together to understand the materials presented and solve the problems encountered!
Strategic Management, Concepts and Cases (15th Edition) by Arthur A. Thompson, Jr. and A. J. Strickland III. McGraw-Hill Irwin, New York
Recommended Reading: Green to Gold by Daniel Esty and Andrew Winston, Yale University Press
Students will learn the following strategic management skills:
- Linking theory and practice; develop an understanding of how to use strategic management tools to initiate and implement problem-solving processes.
- Identifying management strategies which are appropriate to various scenarios and evaluating alternatives in terms of available relevant criteria.
- Strategic research --- research, identify, gather, and verify relevant data.
- Evaluating and analyzing facts to identify opportunities and threats in the external environment and strengths and weaknesses within the organization (i.e., perform a situation/SWOT analysis).
- Recommending specific, detailed courses of action relative to stated facts --- exhibiting strategic management knowledge and judgment.
- Identifying strategic assumptions and developing related financial projections.
- Understanding the importance of ethical principles and organizational values (i.e., organizational culture) within the context of making socially responsible management choices.
Students, individually as well as collaboratively, will demonstrate their expertise in using strategic management techniques and policy concepts through case study analysis, oral presentations, classroom discussions and examination. The overall outcomes of this course will be to learn to:
- Formulate organizational vision, mission, goals, and values.
- Analyze, develop, and establish organizational priorities.
- Utilize ethical decision-making processes to help with formulation of organizational vision, mission, and goals.
- Recognize and understand the importance of making and implementing socially responsible decisions.
- Develop strategies and action plans to achieve an organization's vision, mission, and goals
- Recognize and understand the importance of utilizing cultural diversity in strategic management processes.
- Identify the relationship between assumptions, action plans, and financial projections.
- Prepare one written applied project and present (as a team) at least one case analysis to the class.