1 (c) Copyright 2011 Mortensen Consulting Group LLC Session #3 Strategic Management Dr. Mark H. Mortensen Sessions 211 and 212 M-W “In the land of the

1(c) Copyright 2011 Mortensen Consulting Group LLC

Session #3Strategic Management

Dr. Mark H. MortensenSessions 211 and 212M-W

“In the land of the blind, the one-eyed man is stoned to death.” - Joan D. Vinge

http://www.quotationspage.com/quote/39627.html

Mortensen Consulting Group LLC

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Changing Classrooms!

We have been asked to change classrooms starting next class: PA407

Fall 2010


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Web site

http://mark-mortensen.wiki.uml.edu/

Syllabus – Version 1.2 Assignments Supplemental reading material My lecture charts Wheelen & Hunger lecture charts

Fall 2010




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You Will be Prepared for TodayIff You: (Did the anonymous survey on existing

knowledge)

Turned in Assignments #0 &1 Have read Chapter 1


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Errata from last session

The SWOT Analysis was created by Albert Humphrey of the Stanford Research Institute in the 1960s and 1970s.


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“The Organization Man”William H. White , 1957.

Overtly sexist, intrinsically racist, it represents a description of the thinking in the mid-1950s about how people must “fit in” to businesses they join if they want to succeed.

This is the thinking of my Fathers’ generation. It well describes the dominant culture of IBM in its early days.



Recommended Book

http://www.amazon.com/Elephants-Dance-Inside-Historic-Turnaround/dp/0060523794#_

Fall 2010




http://www.amazon.com/gp/reader/0060523794/ref=sib_dp_pt#reader-link


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The “Graying of America” Baby boomers and retirees over 65

represent the fastest growing demographic segment of the population. We have talked about 10,000 Americans turning 50 every day for years and combined with a decline in the birth rate, 40% of the overall U.S. population is over 50.

In 1900, just 3.5 million Americans were 65 years of age. By 1998, that number grew to 35 million and projections are that by 2025 that number will be 70 million.

And it has been further projected that by the year 2030, there could be more Americans over 80 than there are under the age of eight!


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Building on Your Strengths

Peter F. Drucker, “Managing Oneself,” HBR, Reprint #99204, 1995.

“First and foremost concentrate on your strengths. Put yourself where your strengths can produce results.”

“Second, work on improving your strengths.” “Third, discover where your intellectual

arrogance is causing disabling ignorance and overcome it.”

“It is equally essential to remove your bad habits.”


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Key Points from Last Week “Strategic Management” definition

Set of managerial decisions and actions that determines the long-run performance of a firm.

4-Step Strategic Management Model

SWOT Analysis


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Chapter 1 (cont.)

Lecture & Discussion



Introduction to

Case Study Methodology



Case Study Analysis Document1. Title page2. Table of Contents3. Executive Summary4. Problem Identification and Analysis5. Statement of Major Problems6. Generation and Evaluation of Alternatives7. Recommendations(s)8. Implementation9. Bibliography10. Appendices



3. Executive Summary/Abstract

Brief overview of the case, setting the scene and noting any important assumptions made

Give a synopsis of the case report, noting very briefly the major problems identified and the recommended solutions

Approximately one page.



What to Include … The history, development, and growth of the company

over time The identification of the company’s internal strengths and

weaknesses The nature of the external environment surrounding the

company A SWOT analysis (or another kind of analysis) The kind of corporate-level strategy pursued by the

company The nature of the company’s business-level strategy The company’s structure and control systems and how

they match its strategy Recommendations and implementation plan


16(c) Copyright 2008 Mortensen Consulting Group LLCFall 2008

4. Problem Identification and Analysis

In this section, identify all of the major problems in the case

Try to get underlying causes of problems, not just symptoms

You should link each problem identified to relevant theory and also to actual evidence in the case

Remember you must integrate theory and reference all non-original work.



5. Statement of Major Problems Identify the problems – don’t try to solve

them here Chose a small number of major items –

two or three problems or issues – that must be solved first

Short, concise statement of the problems you are going to solve in the remainder of the case

Half a page is adequate.



6. Generation of Solutions Identify and evaluate a number of the more

appropriate solutions (at least two or three for each major problem identified)

Each alternative solution should be briefly outlined and then evaluated in terms of its advantages and disadvantages (strong and weak points)

It is not necessary to make a statement in this section as to which alternative is considered best – this is stated in the next section

Do not integrate or recommend theory in this section. Practical solutions to the problem are required.



7. Recommendations

State which of the alternative solutions (either singly or in combination) identified in previous sections are recommended

Justify your choice, explaining how it will solve the major problems identified in section 6

Recommend precise courses of action that the company needs to take.



A Warning

Don’t confuse Findings, Conclusions, and Recommendations

Findings are factual and verifiable statements of what happened or what was found.

Conclusions are your own ideas that you deduce from your findings.

Recommendations are what you want done.



8. Implementation Write your recommendations in the form of a action

plan. It is good to include a timetable of what should be done when.

Explain how you would implement the recommended solutions:

What should be done by whom When In what sequence What it will cost (rough estimates) and other such issues

Remember, if a recommended solution cannot be realistically implemented by that company, in a reasonable amount of time, then it is no solution at all.



Doing a Case Study -1 Read the case thoroughly. Read the case

thoroughly. Read the case thoroughly. The first time to get an overview of the industry, the

company, the people and the situation. Read the case again more slowly, making notes as

you go. Define the central issue. Many cases will involve

several issues or problems. Identify the most important problems and separate

them from the more trivial issues After identifying what appears to be a major

underlying issue, examine the related problems.



Doing a Case Study - 2

Define the firm’s goals (only if applicable) Inconsistencies between a firm’s goals and its performance may

further highlight the problems discovered in step 2 Identifying the firm’s goals will provide a guide for the remaining

analysis. Identify the constraints to the problem (only if applicable)

The constraints may limit the solutions available to the firm Typical constraints include limited finances, lack of additional

production capacity, personnel limitations, strong competitors, relationships with suppliers and customers, and so on.

Constraints have to be considered when suggesting a solution.




Identify all the relevant alternatives The list should include all the relevant alternatives that could

solve the problem(s) that were identified Use your creativity in coming up with alternative solutions Even when solutions are suggested in the case, you may be

able to suggest better solutions Select the best alternative

Evaluate each alternative in light of the available information Resist the temptation to jump to this step early in the analysis You will also need to explain the logic you used to choose one

alternative and reject the others.




Develop an implementation planPlan for effective implementation of your

decision. Lack of an implementation plan, even for a very good decisions can lead to disaster for a firm and for you

Don’t overlook this step. It is important as a future manager to be able to explain how to implement the decision.




Write it all down Write Sections 1-3 Check for spelling and grammar Check for readability Ask yourself “If I read this, would I

understand it? Would I be impressed? Would I be convinced?”



References

Davies, Dr. Martin, Case Study Analysis and Case Study Method, University of Melbourne, 2005. http://tlu.ecom.unimelb.edu.au/pdfs/crals/Lecture%205-Case%20Study%20Method.pdf

http://tlu.ecom.unimelb.edu.au/pdfs/crals/Lecture%205-Case%20Study%20Method.pdf


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Reminder for Next Class (Weds.) DUE: nothing If you haven’t, read Chapter 1 Read Chapter 2 If you haven’t, buy the required case studies

from Harvard Business School web site. Scan through the Apple case study to get a

feeling for what is included.

Documents

1 (c) Copyright 2011 Mortensen Consulting Group LLC Session #3 Strategic Management Dr. Mark H. Mortensen Sessions 211 and 212 M-W “In the land of the