Foundations of Strategy – 1st Canadian
ST
Edition
UV
INSTRUCTOR
IA
MANUAL
_A
PP
Robert M. Grant, Judith J. Jordan & Phil Walsh
RO
Complete Instructor’s Manual for Instructors
VE
and Students
D?
© Robert M. Grant, Judith J. Jordan & Phil Walsh
All rights reserved. Reproduction or distribution without permission is prohibited.
??
©MEDGEEK
, Chapter 1
THE CONCEPT OF STRATEGY
INTRODUCTION
ST
The major goal of this first class in strategy is to convey an appreciation of what strategy is,
by introducing students to a range of different perspectives and to some of the key debates
in this field of study.
The principal themes that we emphasise are:
UV
• The contribution of strategy to the success of individuals and organizations;
• The origins and lineage of strategy – the ways in which ideas about ‘strategy’ have
developed over time;
• Key questions and debates in strategy which include:
• What is strategy?
• How do we describe a firm’s strategy?
IA
• How do we identify a firm’s strategy?
• How is strategy made? Design versus emergence
• What roles does strategy perform?
• Strategy: in whose interest? Shareholders versus stakeholders
_A
• Strategy: whose interests should be prioritized?
• Profit and purpose;
• The debate over corporate social responsibility;
• Strategic management of not-for-profit organizations.
PP
LECTURE/INSTRUCTOR-LED ACTIVITY
There are a number of different ways of introducing strategy but the main aim is to get
students engaged and reflecting critically on the material from the start. We outline two
RO
approaches that seem to work well. Which one is adopted depends to a large extent on the
nature and size of the student group as well as the instructor’s individual preference. The
first approach is to start the session by asking students to write down what they understand
by the term ‘strategy’ i.e., how they interpret the term in everyday speech. They are then
asked to work in pairs or small groups comparing their different statements. The instructor
invites selected groups to share their thoughts with the whole class and builds up a list of
key terms associated with ‘strategy’. Students tend to define strategy in terms of plans,
VE
routes to achieving goals, competitive tactics, and so on. Distilling points of similarity and
difference between different students’ commonsense understandings leads nicely into a
discussion of the history of strategy and the way different perspectives on strategy have
emerged over time. It also highlights the fact that there is no universally agreed definition of
strategy and that the perspective or definition that you adopt shapes the questions you ask
D?
and the role you think strategy plays within business organizations. This acts as a logical
bridge to the next step of the session that looks more systematically at different definitions of
strategy and the role that strategy plays within organizations.
An alternative starting point which tends to work well with large groups of undergraduates in
??
a lecture setting is to start with a discussion of what students had hoped to achieve by
completing their studies; when they first began attending university what did they hope to
specialize in? This is followed by a discussion of any changes in their area of interest or
specialization. Perhaps a student had entered school with goal of becoming an accountant.
Copyright © 2015 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
, 1-6 Instructor’s Manual for Foundations of Strategy, Canadian Edition
Then, after a few courses in accounting, the student changed their goal to become a finance
major. The instructor can then lead a discussion of strategy versus tactics. Initially, the
“strategy”, the long term goal, was to get a degree in Accounting. The tactics were to take a
number of accounting courses each year leading to an Accounting degree. When the
student changed their mind to become a finance major, the strategy was similar with regards
to obtaining a degree but in a different area of specialization. The tactics changed as a
different set of courses were required to achieve the objective. If a former student they knew
dropped out of school, that student abandoned their initial strategy in its entirety to pursue
ST
other options.
This leads to a discussion of the role that strategy plays in success and some of the key
characteristics of strategy.
UV
Having, hopefully, captured the student’s attention, the session proceeds by posing some
fundamental questions, in particular:
1. How does strategy contribute to the success of individuals and organizations?
2. What is strategy?
3. How do we describe a firm’s strategy?
4. How do we identify a firm’s strategy?
IA
5. What roles does strategy perform?
6. Strategy: whose interests should be prioritized?
7. The debate over corporate social responsibility;
8. Strategic management of not-for-profit organizations.
_A
It is worthwhile spending a little time on questions 3 and 4 particularly if, at a later stage in
the course, students are asked to undertake assignment work that requires them to gather
information of selected companies. Many students find the notion of ‘strategy’ hard to get to
grips with initially, so the more concrete examples that can be given at the start, the better.
Concluding the first session by connecting ‘strategy’ to topical debate about shareholder
PP
capitalism and corporate social responsibility alerts students to the currency and importance
of the subject matter to which they will be introduced in subsequent sessions. It also creates
the opportunity for the instructor to provide a road map for subsequent classes and to
explain how themes introduced in this first session are subsequently picked up and
developed in more detail. At the end of the class the instructor might ask students to reflect
RO
on their own goals and strategies for success, particularly given the rather turbulent
economic conditions most economies have faced in recent years.
TUTORIAL/STUDENT-LED ACTIVITY
VE
Teaching Notes
At the start of the course it is good for students to get to know each other by working in small
groups. The instructor can either assign individuals to groups or allow them to self-select.
Students discuss the questions within their work groups and then engage in a general class
D?
discussion, with groups taking it in turns to lead the initial discussion.
The following are a selection of group activities and questions that can be discussed using
Chapter 1 Power Point slides as a basis:
??
Copyright © 2015 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
, 1-6 Instructor’s Manual for Foundations of Strategy, Canadian Edition
PPT Slide 5
“We must learn how to be the CEO of our own careers.”i
• Success has gone to those who managed their careers most effectively—typically by
combining the four strategic factors:
1. goals that are simple, consistent, and long term;
2. a profound understanding of the competitive environment;
3. objective appraisal of resources; and
4. effective implementation.
ST
Activity
In groups of about 4 students, have them discuss whether or not they think it is important for
them to plan for their future, or simply allow randomness to chart their life.
UV
Have students discuss how the four strategic factors will help them plan for their future.
A question you might ask is what constitutes success? Is success about profits, market
share, survival, personal fulfilment, or other factors?
IA
PPT Slide 7
Strategic decisions share three common characteristics:
1. They are important.
2. They involve a significant commitment of resources.
_A
3. They are not easily reversible.
Activity
Have the students apply these concepts to their decision to pursue a secondary education:
• They are important – the time commitment over a period of years;
• They involve a significant commitment of resources – the direct cost and the opportunity
PP
cost to attend school;
• They are not easily reversible – the consequences of dropping out of school.
PPT Slide 13
RO
How do we identify a firm’s strategy?– a hierarchy of strategy statements.
• The mission statement is the basic statement of organizational purpose; it addresses
“Why we exist.”
• A statement of principles or values outlines “What we believe in and how we will
behave.”
• The vision statement projects “What we want to be.”
VE
• The strategy statement articulates “What our competitive game plan will be.”
Activity
Alone or in a group, have the students apply these four strategy statements to their personal
goals – academic or later in life.
D?
PPT Slide 16
What roles does strategy perform?
This slide is useful to consolidate the concept that strategy is equally useful to individuals
and to corporations, providing a framework to evaluate the current situation as well as guide
??
decisions relating to the future.
Copyright © 2015 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
ST
Edition
UV
INSTRUCTOR
IA
MANUAL
_A
PP
Robert M. Grant, Judith J. Jordan & Phil Walsh
RO
Complete Instructor’s Manual for Instructors
VE
and Students
D?
© Robert M. Grant, Judith J. Jordan & Phil Walsh
All rights reserved. Reproduction or distribution without permission is prohibited.
??
©MEDGEEK
, Chapter 1
THE CONCEPT OF STRATEGY
INTRODUCTION
ST
The major goal of this first class in strategy is to convey an appreciation of what strategy is,
by introducing students to a range of different perspectives and to some of the key debates
in this field of study.
The principal themes that we emphasise are:
UV
• The contribution of strategy to the success of individuals and organizations;
• The origins and lineage of strategy – the ways in which ideas about ‘strategy’ have
developed over time;
• Key questions and debates in strategy which include:
• What is strategy?
• How do we describe a firm’s strategy?
IA
• How do we identify a firm’s strategy?
• How is strategy made? Design versus emergence
• What roles does strategy perform?
• Strategy: in whose interest? Shareholders versus stakeholders
_A
• Strategy: whose interests should be prioritized?
• Profit and purpose;
• The debate over corporate social responsibility;
• Strategic management of not-for-profit organizations.
PP
LECTURE/INSTRUCTOR-LED ACTIVITY
There are a number of different ways of introducing strategy but the main aim is to get
students engaged and reflecting critically on the material from the start. We outline two
RO
approaches that seem to work well. Which one is adopted depends to a large extent on the
nature and size of the student group as well as the instructor’s individual preference. The
first approach is to start the session by asking students to write down what they understand
by the term ‘strategy’ i.e., how they interpret the term in everyday speech. They are then
asked to work in pairs or small groups comparing their different statements. The instructor
invites selected groups to share their thoughts with the whole class and builds up a list of
key terms associated with ‘strategy’. Students tend to define strategy in terms of plans,
VE
routes to achieving goals, competitive tactics, and so on. Distilling points of similarity and
difference between different students’ commonsense understandings leads nicely into a
discussion of the history of strategy and the way different perspectives on strategy have
emerged over time. It also highlights the fact that there is no universally agreed definition of
strategy and that the perspective or definition that you adopt shapes the questions you ask
D?
and the role you think strategy plays within business organizations. This acts as a logical
bridge to the next step of the session that looks more systematically at different definitions of
strategy and the role that strategy plays within organizations.
An alternative starting point which tends to work well with large groups of undergraduates in
??
a lecture setting is to start with a discussion of what students had hoped to achieve by
completing their studies; when they first began attending university what did they hope to
specialize in? This is followed by a discussion of any changes in their area of interest or
specialization. Perhaps a student had entered school with goal of becoming an accountant.
Copyright © 2015 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
, 1-6 Instructor’s Manual for Foundations of Strategy, Canadian Edition
Then, after a few courses in accounting, the student changed their goal to become a finance
major. The instructor can then lead a discussion of strategy versus tactics. Initially, the
“strategy”, the long term goal, was to get a degree in Accounting. The tactics were to take a
number of accounting courses each year leading to an Accounting degree. When the
student changed their mind to become a finance major, the strategy was similar with regards
to obtaining a degree but in a different area of specialization. The tactics changed as a
different set of courses were required to achieve the objective. If a former student they knew
dropped out of school, that student abandoned their initial strategy in its entirety to pursue
ST
other options.
This leads to a discussion of the role that strategy plays in success and some of the key
characteristics of strategy.
UV
Having, hopefully, captured the student’s attention, the session proceeds by posing some
fundamental questions, in particular:
1. How does strategy contribute to the success of individuals and organizations?
2. What is strategy?
3. How do we describe a firm’s strategy?
4. How do we identify a firm’s strategy?
IA
5. What roles does strategy perform?
6. Strategy: whose interests should be prioritized?
7. The debate over corporate social responsibility;
8. Strategic management of not-for-profit organizations.
_A
It is worthwhile spending a little time on questions 3 and 4 particularly if, at a later stage in
the course, students are asked to undertake assignment work that requires them to gather
information of selected companies. Many students find the notion of ‘strategy’ hard to get to
grips with initially, so the more concrete examples that can be given at the start, the better.
Concluding the first session by connecting ‘strategy’ to topical debate about shareholder
PP
capitalism and corporate social responsibility alerts students to the currency and importance
of the subject matter to which they will be introduced in subsequent sessions. It also creates
the opportunity for the instructor to provide a road map for subsequent classes and to
explain how themes introduced in this first session are subsequently picked up and
developed in more detail. At the end of the class the instructor might ask students to reflect
RO
on their own goals and strategies for success, particularly given the rather turbulent
economic conditions most economies have faced in recent years.
TUTORIAL/STUDENT-LED ACTIVITY
VE
Teaching Notes
At the start of the course it is good for students to get to know each other by working in small
groups. The instructor can either assign individuals to groups or allow them to self-select.
Students discuss the questions within their work groups and then engage in a general class
D?
discussion, with groups taking it in turns to lead the initial discussion.
The following are a selection of group activities and questions that can be discussed using
Chapter 1 Power Point slides as a basis:
??
Copyright © 2015 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
, 1-6 Instructor’s Manual for Foundations of Strategy, Canadian Edition
PPT Slide 5
“We must learn how to be the CEO of our own careers.”i
• Success has gone to those who managed their careers most effectively—typically by
combining the four strategic factors:
1. goals that are simple, consistent, and long term;
2. a profound understanding of the competitive environment;
3. objective appraisal of resources; and
4. effective implementation.
ST
Activity
In groups of about 4 students, have them discuss whether or not they think it is important for
them to plan for their future, or simply allow randomness to chart their life.
UV
Have students discuss how the four strategic factors will help them plan for their future.
A question you might ask is what constitutes success? Is success about profits, market
share, survival, personal fulfilment, or other factors?
IA
PPT Slide 7
Strategic decisions share three common characteristics:
1. They are important.
2. They involve a significant commitment of resources.
_A
3. They are not easily reversible.
Activity
Have the students apply these concepts to their decision to pursue a secondary education:
• They are important – the time commitment over a period of years;
• They involve a significant commitment of resources – the direct cost and the opportunity
PP
cost to attend school;
• They are not easily reversible – the consequences of dropping out of school.
PPT Slide 13
RO
How do we identify a firm’s strategy?– a hierarchy of strategy statements.
• The mission statement is the basic statement of organizational purpose; it addresses
“Why we exist.”
• A statement of principles or values outlines “What we believe in and how we will
behave.”
• The vision statement projects “What we want to be.”
VE
• The strategy statement articulates “What our competitive game plan will be.”
Activity
Alone or in a group, have the students apply these four strategy statements to their personal
goals – academic or later in life.
D?
PPT Slide 16
What roles does strategy perform?
This slide is useful to consolidate the concept that strategy is equally useful to individuals
and to corporations, providing a framework to evaluate the current situation as well as guide
??
decisions relating to the future.
Copyright © 2015 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
