N/A N/A N/A. Students are expected to review and understand all areas of the course outline.

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1 Course Outline School: Department: Course Title: Business Business Management Crafting & Executing Strategy Course Code: MGMT 702 Course Hours/Credits: 42 Prerequisites: Co-requisites: Eligible for Prior Learning, Assessment and Recognition: Originated by: Jai Goolsarran Creation Date: Fall 2013 Revised by: Peter Bannon, Edmond Delsol Revision Date: Summer 2014 Current Semester: Summer 2015 Approved by: Chairperson/Dean Students are expected to review and understand all areas of the course outline. Retain this course outline for future transfer credit applications. A fee may be charged for additional copies. This course outline is available in alternative formats upon request.

2 Course Description This course is designed to advance the learner s capacity to support or lead the application of strategic concepts that address the management of a firm as a whole. That breath of perspective reflects the perspective of a General Manager, and is broader than the perspective of a functional manager. The course has been developed on the premise that all managers contribute to both the crafting and the execution of strategy. Strategy is "crafted" as decisions are taken regarding the directions available to the firm. Once taken, decisions must be implemented or "executed". Topics covered in the course include: - the mission, vision and values of the firm; corporate governance mechanisms and their impact on strategic decisions - the macro-environmental context of the firm, including globalization, competitive landscapes and economic/systemic "shocks" - the available resources and capabilities of the firm - the layering of a firms strategies: corporate, business, functional and operational - the design and testing of business/revenue models - the impact of organizational architecture and corporate/operational culture on the effective fulfillment of strategy - the role of mergers and acquisitions Program Outcomes Successful completion of this and other courses in the program culminates in the achievement of the Vocational Learning Outcomes (program outcomes) set by the Ministry of Training, Colleges and Universities in the Program Standard. The VLOs express the learning a student must reliably demonstrate before graduation. To ensure a meaningful learning experience and to better understand how this course and program prepare graduates for success, students are encouraged to review the Program Standard by visiting For apprenticeship-based programs, visit Course Learning Outcomes The student will reliably demonstrate the ability to: Explain in depth the fundamental structure and purpose of strategy, and different strategic options available to a firm Explain in depth the role of strategy in the pursuit of sustainable competitive advantage and the long-term viability of a firm within its industry; Identify and use various sources of input for the effective design and iteration of strategy, including the delineation of strategy at different levels of the firm and determination of the appropriate business models; Construct persuasive arguments on the management of strategy execution to create effective conditions for the achievement of a firm s strategic objectives; Conduct assessments of strategic results and analysis of strategy implementations in other firms to guide decisions on the formulation and execution of strategy. THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 2

3 Essential Employability Skills (EES) The student will reliably demonstrate the ability to*: 1. Communicate clearly, concisely and correctly in the written, spoken, and visual form that fulfills the purpose and meets the needs of the audience. 4. Apply a systematic approach to solve problems. 5. Use a variety of thinking skills to anticipate and solve problems. 7. Analyze, evaluate, and apply relevant information from a variety of sources. 9. Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals. *There are 11 Essential Employability Skills outcomes as per the Ministry Program Standard. Of these 11 outcomes, the following will be assessed in this course. Global Citizenship and Equity (GC&E) Outcomes Text and other Instructional/Learning Materials Text Book(s): The textbook for the course is Arthur A. Thompson, Margaret A. Peteraf, John E. Gamble, and A. J. Strickland III, Crafting & Executing Strategy: Concepts and Readings, McGraw-Hill/Irwin, 19th edition, 2014, ISBN supplemented with a chapter (Chapter 9: Strategic Control and Corporate Governance) taken from Gregory G. Dess, G.T. Lumpkin, and Alan B. Eisner,and Gerry McNamara Strategic Management, McGraw-Hill/Irwin, 6thth edition, A case-book is also used in the course and it is entitled, Casebook for MGMT 702 Crafting and Executing Strategy. The ISBN for the Casebook is or Evaluation Scheme Research and Case Analyses (5 x 10%): Individual work: Questions to be addressed in both Part A and Part B will focus on the case materials on specific companies, the companies latest annual reports, particular video lectures/interviews on the companies, the textbook s discourses on the companies and the industries in which they are located, and recent developments relating to the companies. Term Work Assignment: Individual work: Participation of in-class case discussion and evaluation Mid-Term Examination: The Mid-term Examination will be based on Chapters 1 to 5 and their related readings of the textbook Final Test: The Final Test will be based on Chapters 5 to 12 and their related readings Evaluation Name CLO(s) EES GCE Outcome(s) Outcome(s) Weight/100 Research and Case Analyses (5 x 10%): Individual 1, 2, 3, 4, 5 1, 4, 5, 7 50 work Term Work Assignment: Individual work 1, 2, 4 1, 4, 5, 9 10 Mid-Term Examination 1, 2, 5 1, 4, 5, 7 15 Final Test 1, 2, 3, 4 1, 4, 5, 7 25 Total 100% If students are unable to write a test they should immediately contact their professor or program Chair for advice. In exceptional and well documented circumstances (e.g. unforeseen family problems, serious THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 3

4 illness, or death of a close family member), students may be able to write a make-up test. All submitted work may be reviewed for authenticity and originality utilizing Turnitin. Students who do not wish to have their work submitted to Turnitin must, by the end of the second week of class, communicate this in writing to the instructor and make mutually agreeable alternate arrangements. When writing tests, students must be able to produce official College photo identification or they may be refused the right to take the test or test results will be void. Student Accommodation It is College Policy to provide accommodation based on grounds defined in the Ontario Human Rights Code. Accommodation may include modifications to standard practices. Students with disabilities who require academic accommodations must register with the Centre for Students with Disabilities. Students requiring accommodation based on other human rights grounds should talk with their professors as early as possible. Please see the Student Accommodation Policy. Use of Dictionaries English-Additional Language (e.g. English-Chinese) or Additional Language-English (e.g. Russian- English) dictionaries may be used in regular class work. Dictionaries may be used in tests and examinations, or in portions of tests and examinations, as long as they are non-electronic (not capable of storing information) and hard copy (reviewed by the invigilator to ensure notes are not incorporated that would affect test or examination integrity). Program or School Policies Course Policies College Policies Students should familiarize themselves with all College Policies that cover academic matters and student conduct. All students and employees have the right to study and work in an environment that is free from discrimination and harassment and promotes respect and equity. Centennial policies ensure all incidents of harassment, discrimination, bullying and violence will be addressed and responded to accordingly. Academic honesty is integral to the learning process and a necessary ingredient of academic integrity. Academic dishonesty includes cheating, plagiarism, and impersonation. All of these occur when the work of others is presented by a student as their own and/or without citing sources of information. Breaches of academic honesty may result in a failing grade on the assignment/course, suspension or expulsion from the college. THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 4

5 For more information on these and other policies, please visit Students enrolled in a joint or collaborative program are subject to the partner institution's academic policies. PLAR Process This course outline and its associated weekly topical(s) may not be reproduced, in whole or in part, without the prior permission of Centennial College. THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 5

6 Topical Outline (subject to change): Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name 1 Introduction to the two Chapter 1 Term Work core management Assignment functions of the firm: What Is Strategy and the crafting of strategy Why Is It Important? and the execution of strategy 2 The strategy-making process The strategyexecuting process 3 The strategically relevant components of the firm s external environment The Five Forces Model of competition Factors driving industry change Reading: The Perils of Bad Strategy Reading: How to Identify New Business Models Chapter 2 Charting a Company s Direction: Vision and Mission, Objectives, and Strategy Reading: Strategy Making: The Approach Matters Reading: The Real Job of Boards Chapter 3 Evaluating a Company s External Environment Reading: Which Strategy When? Reading: A Shared explain the concept of strategy in the context of the firm and its competitive environment; identify the current strategies of designated firms; provide an elaboration of the proposition that a firm s strategy is partly proactive and partly reactive; discuss the relationship between a firm s strategy and its business model; argue the case that crafting strategy and executing strategy are the core management functions within the firm; elaborate upon the three tests that can be applied to determine whether a firm s strategy is a winning strategy. specify the five phases of the strategymaking and strategy-executing process and to demonstrate their inter-relationships with reference to particular firms; describe the range of activities typically involved in each of the five phases: developing a strategic vision; setting objectives; crafting a strategy; executing strategy; evaluating the performance of the firm; explain the hierarchy of strategies in the context of a multibusiness firm; outline the roles and responsibilities of the board of directors in the strategy-making and strategy-executing process. identify and explain the significance of all of the strategically relevant components of the external environment of the firm; describe the dominant economic features of the industry in which a given firm is located; apply the Five Forces Model across a range of industries to determine their attractiveness and profitability; identify and elaborate upon the factors that are driving change with respect to particular Video Clips Group discussions Evaluation Date Weeks 1-13 Research & Week 3 No. 1 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 6

7 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name Fate industries; Strategic groups analyze the market positions occupied by strategic groups of firms in specific industries; discuss the key factors for future success of firms in any given industry. 4 The resources and Chapter 4 capabilities of the firm SWOT analysis Value chain analysis Benchmarking Building sustainable competitive advantages 5 Competitive strategy 6 Low-cost provider strategy Differentiation strategy. Focused strategies Best-cost provider strategy Offensive strategies Defensive strategies Timing of strategic moves Mergers and acquisitions Vertical integration Evaluating a Company s Resources, Capabilities, and Competitiveness Reading: Adaptability: The New Competitive Advantage Reading: Dynamic Capabilities: A Guide for Managers Chapter 5 The Five Generic Competitive Strategies Reading: Profiting When Customers Choose Value Over Price Reading: Competing Against Free Chapter 6 Strengthening a Company s Competitive Position: Strategic Moves, Timing, and Scope of Operations Reading: The New M & A Playbook Reading: Adding Value evaluate the effectiveness of the current strategies of given firms; undertake SWOT analyses of a variety of firms in different industries; examine and assess the cost structures and pricing policies of firms; elaborate upon the conceptualization of the firm as a value chain; create a benchmarking framework for a firm in a particular industry; demonstrate how effective performance of the firm s value chain activities could create sustainable competitive advantages. describe the five generic competitive strategies which firms could embrace; specify the implementation requirements in terms of value chain activities, firm architecture, organizational systems and processes, and corporate culture with respect to each of the five generic competitive strategies; evaluate, with reference to the experience of particular firms, the optimal conditions for the choice of a low-cost provider strategy or a differentiation strategy. describe the key elements of an offensive strategy and of a defensive strategy respectively and to indicate how each element could improve the market position of the firm; stipulate the conditions under which firms could derive first-mover and late-mover advantages respectively; identify and elaborate upon the five strategic objectives of mergers and acquisitions and to evaluate the experiences of particular firms in this regard; Evaluation Date Research & Week 5 No. 2 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 7

8 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name through Offshoring discuss the advantages and disadvantages Outsourcing of vertical integration; specify the conditions under which Strategic alliances outsourcing might be advantageous to the and partnerships firm; explain how and why strategic alliances and partnerships might be advantageous to t 7 Motivations for entering foreign markets Porter s Diamond of National Competitive Advantage Modes of entry Multi-domestic strategy Transnational strategy Global strategy The quest for competitive advantage in the international arena Profit sanctuaries and cross-border strategic moves Strategies for competing in the markets of developing countries 8 The business logic for diversification Approaches to diversification Chapter 7 Strategies for Competing in International Markets Reading: Is Your Emerging-Market Strategy Local Enough? Reading: Strategic Orchestration Chapter 8 Corporate Strategy: Diversification and the Multibusiness Company describe the economic motivations of firms for expanding into international markets; offer an insightful discourse on Porter s Diamond of National Competitive Advantage; identify the various strategy options that are available to firms for entering and competing in international markets and to elaborate upon the risks and benefits of each option; elaborate upon, and with reference to the experiences of particular firms, the conditions under which each of the three main strategic approaches for competing internationally (multi-domestic strategy; global strategy; transnational strategy) would be appropriate; provide an insightful discourse on the three important ways in which a firm can gain competitive advantage (or offset domestic disadvantages) by expanding outside its domestic market; discuss the significance of profit sanctuaries for firms competing in international markets; evaluate the claim that tailoring products to fit market conditions in developing countries involves more than making minor product changes and becoming familiar with local cultures. explicate upon the business logic for diversification; elaborate upon the three typical approaches to diversification (acquisition, internal start-up, joint ventures with other companies); discuss the risks and benefits of related and Evaluation Date Test 1 15% Week 7 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 8

9 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name Related diversification Reading: Diversification: Best Unrelated Practices of the diversification Leading Companies Evaluating the strategy of a diversified firm Reading: Successful Divestitures Need proper Cultivation unrelated diversification respectively; assess the performance outcomes of particular firms which have embarked upon diversification; describe the four broad categories of actions open to a firm after it diversifies and to specify the conditions under which it would be appropriate to pursue each of category of action. Evaluation Date Post-diversification strategic moves 9 The ten principal Chapter 10 explain the crucial role of strategy execution Research & strategy execution process Building an Organization Capable firm; describe the ten principal components of the No. 3 components of the in the overall strategic management of the Week 9 of Good Strategy strategy execution process; Execution elaborate, with reference to the experiences of leading firms across a variety of industries, Reading: The Role of what needs to be done to create a strong Perceived Benefits of management team and a high-performance Training in Generating workforce; Affective Commitment critically assess the three-stage process of and the High value of developing and strengthening competencies Firms and capabilities within the firm; describe the organizational structure, systems, and processes that are required for the successful execution of strategy. 10 The ten principal Chapter 11 offer an informed discussion on how firms components of the allocate the resources that drive good strategy execution Managing Internal strategy execution; process (continued) Operations: Actions specify, with reference to the experience of That Promote Good particular firms, the policies and procedures Strategy Execution that facilitate good strategy execution; evaluate how firms identify and incorporate Reading: The Learning best practices into their operations; Enterprise demonstrate how a well-conceived management information system could enhance the performance of the firm in all areas of its operations; present a cogent argument that the reward and incentive structures of the firm are critical to successful strategy The ten principal Chapter 12 establish the close interconnection between Research & Week 11 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 9

10 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name components of the strategy execution process (continued) Building a corporate culture to promote good strategy execution Leading the strategy execution process Corporate Culture and Leadership: Keys to Good Strategy Execution Reading: Why Operational excellence Matters Reading: Using Knowledge Brokering to Improve Business Processes corporate culture and successful strategy execution over the long term; describe the processes through which a desired corporate culture could be developed; identify, with reference to the track record of firms across a variety of industries, the key dimensions of high performance corporate cultures; critically evaluate the specific managerial actions which could lead the drive for good strategy execution and operational excellence No. 4 Evaluation Date 13 The contemporary approach to strategic control The principal-agent problem Governance mechanisms Reading: Corporate Culture: Its Value as a Resource for Competitive Advantage Chapter 9 Strategic Control and Corporate Governance 14 Test 2 Chapters 5 to 12 and their related readings distinguish between the traditional approach and the contemporary approach to informational control; critically evaluate the three levers of behavioural control: culture, rewards, and boundaries; discuss the role of corporate governance with respect to the strategic management of the firm; state the basic propositions of agency theory and to explain the reasons for the agency problem typically observed in firms; offer a critical assessment of the various internal governance mechanisms that are usually set in place to assure the alignment of the interests of principals and agents and to establish the effective control of agents; describe and evaluate the several external Based on Chapters 5 to 12 and their related readings Research & No.5 Week 13 Invigilate test Test 2 25% Week 14 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 10