Transcript Ray Van Ness
Welcome to Strategic Management
BMGT 682
My name is Ray Van Ness Please call me “
Ray
”
Greetings & Introductions
Please take a minute and introduce yourself To the people sitting around you
My background…
… the prism through which all information I give you is filtered ACCOUNTANT to EXECUTIVE to ENTREPRENEUR to PROFESSOR 20+ years in business followed by 30+ years of teaching:
• Began as general accountant then… • Traveling Internal Auditor for International shoe manufacturing Corp.
• Cost Accountant • Controller then entered finance and became … • Vice President of Finance, elected to board of directors, later elected as Executive VP, then President & CEO, then • Branched into business acquisitions (entrepreneurship) • Later, retired for a few days and decided to begin a second career • Here I am, 30 + years into my second career
It is – More
about
PROCESS and Less about NEW CONTENT
Focus on thinking and acting in unique ways… Daring to challenge the status quo and still be likeable…
How will
Your
Course be conducted?
•
It will be EXPERIENTIAL with competing OPINIONS and energetic DISCUSSIONS and you should expect to experience CREATIVE TENSION
• Strategic Concepts will be presented by
you
• Case Studies will be presented by
you
• Merger Activities & Strategic Debates will be by
you
This course will be conducted as a
Professional Development Workshop
It is about
assessing
corporate strengths, weaknesses, opportunities and threats.
It is about
contemplating
effective corporate strategies for capitalizing on strengths to take advantage of opportunities and minimizing weaknesses and threats.
It is about refining
TEAM WORK ABILITY
It is about refining
PEOPLE SKILLS
It is about refining
CRITICAL THINKING SKILLS
It is about refining
COMMUNICATION SKILLS
Practice communicating technical information Practice communicating sometimes “dry” but important data Practice capturing and holding the attention of others It is about refining
POWER OF PERSUASION SKILLS
Effective managers must develop strong persuasion skills Aristotle, the Greek philosopher, identified three methods of persuasion and effective managers have mastered each: Logos = Persuasion by
REASONING
Pathos = Persuasion by
EMOTIONAL APPEAL
Ethos = Persuasion by
CHARACTER You are encouraged to practice each of these persuasion skills
Course Purposes and Objectives
CRITICAL THINKING
To create an environment that supports critical thinking and encourages creative problem solving
CREATIVE TENSION
To provide an environment where differing opinions are seen as a valuable and productive source for CREATIVE TENSION.
Thought: You learn more from the person who disagrees with you than from the one who agrees.
SKILLS & TOOLS
To add to your arsenal of management skills and abilities.
PEER LEARNING
To support and encourage the process of peer-to-peer (
coworker
) learning.
Thought: Asking for and listening to opinions of coworkers offers not only a rich opportunity for learning but also the likely benefit of endearment. EFFECTIVE EXPRESSION & PERSUASION
To encourage and support the practice of expressing appropriate personal opinions, thoughts, concerns, and ideas in a persuasive manner.
Syllabus: Distribution & Discussion
Syllabus -- click
Formation of 6 Teams
The Professor has divided the class into 6 distinct Teams Teams will elect (3) leaders for their team (President, VP, & Secretary)
BONUS: Pres earns 200 points, VP earns 150 points; Secretary earns 250 points
Team Assignments (see syllabus)
Team 1: Team 2: Team 3: Team 4: Team 5: Team 6:
Team 6: You will be presenting Chapter 2: Charting A Company’s Direction. Power Points are on the course website to help you with your planning. Select a MAXIMUM of 20 slides for your presentation.
Team 1: You will be presenting Case 10: Chipotle – SEE pages 13-17 of your
SYLLABUS
for directions.
Teams 2, 3, 4, & 5: Read Chapter 2 in the text AND read Case 10 – page C-114) Members of teams 6 and 1 please see me immediately after class
Brief points…
Thoughts about Strategy
Strategic Questions
1.
What’s the company’s present situation?
2. Where does the company need to go from here?
3. How should it get there?
A company’s answer to
“How it will we get there?” is its
strategy
Consists of Management’s
competitive moves
and
business approaches
Combines
planning, decision-making
,
and
actions
Strategies can be:
OFFENSIVE
(
primary goal:
grow market share; pressure competitors)
CONSERVATIVE
(
primary goal:
avoid risks; minimize confrontations with strong competitors)
How to
grow
the business How to please
customers Strategy is
HOW
to . . .
How to
outcompete
rivals How to
manage
each functional division
(R&D, production, marketing, HR, finance, and so on)
How to
respond
to changing market conditions How to
achieve
a competitive advantage and targeted levels of performance
Successful firms develop bases for competitive advantage 1. Cost leadership (Advantage: Known for low prices)
(Wal-Mart)
2. Differentiation (Advantage: Distinctive, desirable features to product or service)
(Harley-Davidson)
3. Narrow market niche (Advantage: able to satisfy the need and desires of customers within a micro market)
(Antique Car parts companies)
4. Developing superior expertise and resources (Advantage: able to make it difficult for competitors to replicate products or services)
(Microsoft ) 2 and 4 are very closely related
Strategies are always works in progress…
Shifting market conditions Technological breakthroughs New actions by competitors Evolving customer preferences Emerging market opportunities Creative thinking Crisis situations Company strategies are generally partly Proactive and partly Reactive
Strategies planners ask:
In summary, Strategic planners think, plan, and act…. Now it’s your turn…
Movie, Meeting, Closing comments
(1) Movie : Are Consumers Living beyond their means? What are the consequences of different consumer behavior? Case 11 : In a Slumping Economy: A Shift in Shopping Habits
[5.13min]
(2) Closing comments (3) Professor meeting with Team 6 and Team 1