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Questions and Answers
What is a key reason for the decline of many firms?
What is a key reason for the decline of many firms?
Which skill is emphasized for students in this strategy course?
Which skill is emphasized for students in this strategy course?
What does the concept of 'Planned emergence' in strategy suggest?
What does the concept of 'Planned emergence' in strategy suggest?
Which of the following is NOT a component of the course content?
Which of the following is NOT a component of the course content?
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What fundamental role does strategy play in organizations?
What fundamental role does strategy play in organizations?
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Who is the course instructor for the strategy course?
Who is the course instructor for the strategy course?
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Which of the following best describes 'cost leadership and differentiation'?
Which of the following best describes 'cost leadership and differentiation'?
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What is a requirement for the team project regarding originality?
What is a requirement for the team project regarding originality?
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What does a clear and consistent long-term goal contribute to in strategy?
What does a clear and consistent long-term goal contribute to in strategy?
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Which element is NOT directly related to the strategic fit of a firm with its environment?
Which element is NOT directly related to the strategic fit of a firm with its environment?
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What is the primary outcome of a superior and sustainable strategy?
What is the primary outcome of a superior and sustainable strategy?
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Which of the following best defines the role of strategy in relation to the firm and its environment?
Which of the following best defines the role of strategy in relation to the firm and its environment?
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What is the main focus of the CM Lecture Halls component in the course?
What is the main focus of the CM Lecture Halls component in the course?
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What type of interaction is primarily emphasized in the consultancy project part of the course?
What type of interaction is primarily emphasized in the consultancy project part of the course?
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How many hours are dedicated to case study discussions in the course?
How many hours are dedicated to case study discussions in the course?
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What is the primary purpose of the team-project tutorials in the course?
What is the primary purpose of the team-project tutorials in the course?
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What number of pre-recorded video tutorials are offered for strategic analysis in Excel?
What number of pre-recorded video tutorials are offered for strategic analysis in Excel?
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Which approach describes the teaching philosophy of this course?
Which approach describes the teaching philosophy of this course?
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How are students allowed to form teams for the team projects?
How are students allowed to form teams for the team projects?
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What is one of the key elements of the course's case study component?
What is one of the key elements of the course's case study component?
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What is the expected class size for team-project tutorials?
What is the expected class size for team-project tutorials?
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What is expected of students before each lecture and tutorial?
What is expected of students before each lecture and tutorial?
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What consequence can arise from free riding in team assignments?
What consequence can arise from free riding in team assignments?
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Which component of the course is NOT listed as a component of the course pack?
Which component of the course is NOT listed as a component of the course pack?
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What is the purpose of the SmartBook assignments in the course?
What is the purpose of the SmartBook assignments in the course?
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What type of materials will be posted after each class?
What type of materials will be posted after each class?
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What is required from students if they need to miss a class?
What is required from students if they need to miss a class?
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In what format are compulsory readings available?
In what format are compulsory readings available?
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Which of the following is part of the course components related to data analysis?
Which of the following is part of the course components related to data analysis?
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What should students do to prepare for debates and analyses of the case studies?
What should students do to prepare for debates and analyses of the case studies?
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Which of the following is NOT a resource mentioned in relation to the consultancy project?
Which of the following is NOT a resource mentioned in relation to the consultancy project?
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What is the primary function of Dow Jones Factiva in the resource list?
What is the primary function of Dow Jones Factiva in the resource list?
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Which source is specifically targeted for industry and company data?
Which source is specifically targeted for industry and company data?
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Which of the following is considered an unreliable data source?
Which of the following is considered an unreliable data source?
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What percentage of the overall assessment is dedicated to class preparation and participation?
What percentage of the overall assessment is dedicated to class preparation and participation?
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For the mid-term consultancy report presentation, which grading criterion is applicable?
For the mid-term consultancy report presentation, which grading criterion is applicable?
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How many multiple-choice questions are included in the final exam?
How many multiple-choice questions are included in the final exam?
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What aspect is NOT included in the grading criteria for the final consultancy report presentation?
What aspect is NOT included in the grading criteria for the final consultancy report presentation?
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In the assessment criteria, how is the mid-term exam weighted?
In the assessment criteria, how is the mid-term exam weighted?
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Which of the following components is included in the theory section of the assessment?
Which of the following components is included in the theory section of the assessment?
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What is the main purpose of referring to 'course coordinator Ambra Mazzelli' in the course components?
What is the main purpose of referring to 'course coordinator Ambra Mazzelli' in the course components?
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Study Notes
Lecture 1 - Introduction to Strategy
- The lecture is taught by Professor Dr. Eva Niesten
- The course will cover Introduction to Strategy
- Students should use the Edusign QR code to register attendance
- The decline of many firms is due to a failure to update their strategy in an evolving world.
- All managers and entrepreneurs, regardless of industry or organization, deal with strategic considerations.
- Strategy is critical for successful decision-making.
Why a Strategy Course?
- Firms fail due to the lack of renewed strategic planning in an ever-changing environment.
- Managers, entrepreneurs, and all organizations are concerned with effective strategies.
- Strategic planning is essential in meeting objectives and constraints.
- Strategy is fundamental for decision-making.
How can firms create and sustain a competitive advantage in today's hyperconnected and fast-changing world?
- This is a key question explored in the course.
Why a Strategy Course?
- Students will master fundamental strategic management concepts.
- Industry analysis and evaluation are essential for competitive positioning.
- Firm and industry evolution analysis is crucial in this field.
- Understanding the impact of environmental forces on business and corporate strategies will be addressed.
LECTURE 1 – Introduction to Strategy – Course Details
- Course Instructors: Includes Eva Niesten, Bruno Cirillo, and Ambra Mazzelli.
- Course Components: Includes lectures, tutorials, coordination, course content, course guidelines, course material, smart book, mid-term and final exams, mid-term and final consultancy project.
- Assessment Criteria: Class preparation and participation (10%), Mid-term exam (20%), Final exam (30%), Mid-term Consultancy Report Presentation (20%), Final Consultancy Report Presentation (20%), Team Project (Consultancy Project).
- Introduction to Strategy: Focuses on the importance of strategy, its link with the firm and its environment.
- Value & Strategic Positioning: Explores value creation and capture, profitability ratios, and sources of competitive advantage.
1.1 Course Instructors
- Eva Niesten: Full Professor of Strategy and Sustainability; Director of SKEMA Centre for Sustainability Studies, email and office hours provided.
- Bruno Cirillo: Associate Professor of Strategy and Entrepreneurship
- Ambra Mazzelli: Associate Professor of Strategy and Organizations
1.2 Course Components
- Theory: Exploration of theory and strategic tools, utilizing readings, videos, discussions to understand managerial problems and solutions.
- Cases: Exploration of empirical contexts through detailed case studies.
- Project: Includes a consultancy project tackling a specific company's strategy analysis, covering strategic frameworks and tools.
1.2 Course Components (More Detail)
- CM (Lectures): 6hr (4 sessions of 1.5h each) in lecture halls.
- CM (Case Study): 6hr (4 sessions of 1.5h each) in lecture halls.
- Strategic Tool Application: 9hr (6 sessions of 1.5h each)
- Strategic Analysis Video Tutorials: 5 pre-recorded video tutorials on Excel-based analysis.
- Student Project Presentations: 6hr (2 sessions of 3h each) in small groups (30-50 students).
- Team-based Project Tutorials: Team formation week before the first tutorial.
- Instructor's Discretion on deadlines.
1.2 Course Components
- Course Pack (K2): Course syllabus, Excel-based strategic analysis video tutorials, case study materials and questions, lecture and tutorial slides, consultancy project instructions, assignment submission links, and common resources.
1.2 Course Components
- Data Sources: Specific databases and platforms like BVD Orbis, Dow Jones Factiva, Statista, Marketline, and ProQuest.
1.2 Course Components
- Active learning: Emphasizes preparation before lectures/tutorials.
- CM Preparation: Study prerequisite readings from the CONNECT platform's SmartBook. Assignments graded at the end of the course.
- CM Case Studies: Reading, video watching, and class debate/analysis.
- TD (Tutorials): Submitting checklists, data downloaded, analyses performed, variables, and instructor questions.
- Attendance: Mandatory. Notify instructors in advance for any missed classes.
- Free Riding: Not tolerated. Instructors can impose penalties on free riders.
- Compulsory Readings: Rothaermel (Strategic Management), Thompson (Crafting & Executing Strategy), available on the CONNECT platform.
1.3 Assessment Criteria
- Class Preparation & Participation: Based on CONNECT SmartBook statistics (end of semester) - 10%
- Mid-Term Exam: 5 multiple-choice, 1 open-ended question (data analysis required) - 20%
- Final Exam: 5 multiple-choice, 1 open-ended question (data analysis required) - 30%
- Mid-term Consultancy Report Presentation: Grading criteria for content relevance/reliability, analysis appropriateness, result interpretation, and presentation quality (0-20 points per criteria).
- Final Consultancy Report Presentation: Grading criteria same as above.
- Team Project: Original work, plagiarism will be dealt with strictly according to SKEMA's policy.
1.4 Introduction to Strategy
- Why is strategy important? How to achieve a sustainable competitive advantage, with a focus on implementation of goals, understanding the competitive environment, and objective appraisal of resources.
- A good strategy is based on AFI Framework: Analyze, Formulate, Implement.
- Rise and Fall (Nokia example): Highlights how failing to adapt to environmental changes can lead to company decline.
- Evolution of strategic management: Discusses key figures and their contributions (Chandler, Porter, etc).
- What is strategy?: Definition from Rothaermel, distinction between strategy and goals/aspirations, actions, and Mintzberg's 5 Ps for strategy (plan, ploy, pattern, position, perspective)
- Different perspectives of strategy: Strategy as direction, guidelines, and flexibility/responsiveness.
- Two levels of strategy: corporate and business level.
- Vision, Mission, Values: Understanding the articulation of these aspects for companies.
- Checking strategy statements: Gap analysis between statements, decisions, and reality.
1.5 Value & Strategic Positioning
- Value creation and capture: The goal of all strategy, defined as net rent-earning capacity or monetary worth.
- Purpose of business: Create value for customers (and society) and capture some of that value as profit.
- Value creation for society: Effective firms understand exchange relationships and effectively manage stakeholders.
- Value creation and capture components: Diagrammatic representation, consumer surplus calculation, and profitability ratios (ROCE, ROE, ROA).
- Profitability ratios components: Formulas for ROCE, ROE, and ROA.
- Competitive Advantage: Porter's generic strategies (Cost Leadership, Differentiation, Focus).
- Defining Strategy Variables: Use of performance data (such as ROS and ROA) to determine the type of strategy.
- Diagram for Strategy Variables: Graph illustrating how to use ROS and ROA data.
What's Next?
- Video tutorials on data collection and strategic positioning analysis are recommended.
- The case study on Uber and its CEO's interview will be discussed.
- Expect questions based on case studies to be addressed.
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Description
Join Professor Dr. Eva Niesten for an enlightening introduction to the course on strategy. This lecture will discuss the importance of strategic planning for managers and entrepreneurs in today’s fast-evolving business environment, highlighting how firms can create and sustain competitive advantages. Prepare to explore key concepts essential for effective decision-making.
