Foundations of Strategy
2nd Edition
ST
UV
SOLUTIONS
IA
MANUAL
_A
PP
Robert Grant
Judith Jordan
RO
VE
Comprehensive Solutions Manual for
Instructors and Students
D?
© Robert Grant & Judith Jordan. All rights reserved. Reproduction or distribution without
permission is prohibited.
©MedConnoisseur
, Solutions Manual for Foundations of Strategy
2e Robert Grant Judith Jordan (All Chapters)
Chapter 1: The Concept of Strategy
Introduction
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
ST
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:
o What is strategy?
o What role does strategy play in business organizations?
IA
o How can we describe and identify a firm’s strategy?
o What role does strategy perform?
o Whose interests does strategy serve?
• The role of strategy in not-for-profit organizations
_A
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
approaches that seem to work well. Which one is adopted depends to a large extent on
PP
the nature and size of the student group as well as the tutor’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
RO
up a list of key terms associated with ‘strategy’. Students tend to think define strategy in
terms of plans, routes to achieving goals, competitive tactics and so on. Distilling points of
similarity and difference between different students’ common sense 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
VE
the questions you ask 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
D?
in a lecture setting is to start with images (or video clips) of successful individuals – in the
text we focus on Lady Gaga and Jeff Bezos. The instructor invites members of the
audience to identify these individuals, say something about what they do and why they
think the instructor has chosen them as examples of successful individuals. The instructor
then asks the audience to consider whether these individuals, despite their obvious
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, differences, have anything in common. This leads to a discussion of the role that strategy
plays in success and some of the key characteristics of strategy.
Having, hopefully, captured the student’s attention, the session proceeds by posing some
fundamental questions, in particular
1. What is strategy?
2. What role does strategy play in business organizations
3. How can we describe strategy?
4. How can we identify strategy?
5. Whose interests are/should be prioritised?
ST
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
UV
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 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
IA
subsequently picked up and developed in more detail. At the end of the class the
instructor might ask students to reflect on their own goals and strategies for success,
particularly given the rather turbulent economic conditions most economies have faced in
recent years.
_A
Tutorial/Student-led activity
The mini-case that accompanies this session is ‘Tough Mudder’. It goes without saying
that it is a good idea to get students to read the mini-case in advance but the video clip
that accompanies this chapter gives students a sense of the business and reinforces some
PP
of the information contained within the case. Tough Mudder was chosen as an introductory
case because it is a business that is easily understood and likely to appeal to students.
The main aim of the case session is to get students thinking about strategy. The case
allows the instructor to draw out both analytical aspects of strategy and also human and
RO
processual ones and invites us to pose questions about the links between strategy and
success. Suggested answers to the case questions are provided in the teaching and
learning materials for this chapter.
VE
D?
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Distribution of this document is illegal extra per year?
, Teaching Note and Suggested Answers to the Tough Mudder case questions
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 case questions within their work groups and then engage in a
general class discussion, with groups taking it in turns to lead the initial discussion.
How would you describe Tough Mudder’s strategy?
Figure 1.5 on page 13 provides a template that can be applied to Tough Mudder and is a
ST
good starting point.
Strategy as positioning Strategy as direction
Where are we competing? What do we want to
UV
Tough Mudder hosts 10 to 12 mile endurance become?
obstacle runs which participants complete in A ‘household brand name’
teams. which retains an
The company operates in a range of different ‘unconventional and edgy’
locations in 9 different countries. image
The company designs, runs and markets its
IA
own events but partners with a number of other
organizations to supplement its resources and
capabilities and to generate revenue.
_A
How are we competing? What do we want to
The ‘endurance sports’ market is very achieve?
competitive and has relatively low barriers to To create ‘life-changing
entry. Tough Mudder endeavours to build and experiences for
sustain competitive advantage by differentiating participants’.
PP
itself from its rivals in terms of its:
• strategic positioning
• brand name and reputation
• product design
• the quality of the customer experience it
RO
offers
based on meticulous operational planning,
highly effective staff recruitment and selection
processes, sophisticated marketing and design,
a strong corporate culture and continuous
VE
innovation.
How will we get there?
By retaining a strong focus
and sense of corporate
identity.
D?
By engaging in a process
of continuous innovation
By partnering with other
organization that
complement the brand
Why has the strategy been successful?
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
2nd Edition
ST
UV
SOLUTIONS
IA
MANUAL
_A
PP
Robert Grant
Judith Jordan
RO
VE
Comprehensive Solutions Manual for
Instructors and Students
D?
© Robert Grant & Judith Jordan. All rights reserved. Reproduction or distribution without
permission is prohibited.
©MedConnoisseur
, Solutions Manual for Foundations of Strategy
2e Robert Grant Judith Jordan (All Chapters)
Chapter 1: The Concept of Strategy
Introduction
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
ST
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:
o What is strategy?
o What role does strategy play in business organizations?
IA
o How can we describe and identify a firm’s strategy?
o What role does strategy perform?
o Whose interests does strategy serve?
• The role of strategy in not-for-profit organizations
_A
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
approaches that seem to work well. Which one is adopted depends to a large extent on
PP
the nature and size of the student group as well as the tutor’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
RO
up a list of key terms associated with ‘strategy’. Students tend to think define strategy in
terms of plans, routes to achieving goals, competitive tactics and so on. Distilling points of
similarity and difference between different students’ common sense 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
VE
the questions you ask 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
D?
in a lecture setting is to start with images (or video clips) of successful individuals – in the
text we focus on Lady Gaga and Jeff Bezos. The instructor invites members of the
audience to identify these individuals, say something about what they do and why they
think the instructor has chosen them as examples of successful individuals. The instructor
then asks the audience to consider whether these individuals, despite their obvious
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
, differences, have anything in common. This leads to a discussion of the role that strategy
plays in success and some of the key characteristics of strategy.
Having, hopefully, captured the student’s attention, the session proceeds by posing some
fundamental questions, in particular
1. What is strategy?
2. What role does strategy play in business organizations
3. How can we describe strategy?
4. How can we identify strategy?
5. Whose interests are/should be prioritised?
ST
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
UV
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 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
IA
subsequently picked up and developed in more detail. At the end of the class the
instructor might ask students to reflect on their own goals and strategies for success,
particularly given the rather turbulent economic conditions most economies have faced in
recent years.
_A
Tutorial/Student-led activity
The mini-case that accompanies this session is ‘Tough Mudder’. It goes without saying
that it is a good idea to get students to read the mini-case in advance but the video clip
that accompanies this chapter gives students a sense of the business and reinforces some
PP
of the information contained within the case. Tough Mudder was chosen as an introductory
case because it is a business that is easily understood and likely to appeal to students.
The main aim of the case session is to get students thinking about strategy. The case
allows the instructor to draw out both analytical aspects of strategy and also human and
RO
processual ones and invites us to pose questions about the links between strategy and
success. Suggested answers to the case questions are provided in the teaching and
learning materials for this chapter.
VE
D?
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
, Teaching Note and Suggested Answers to the Tough Mudder case questions
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 case questions within their work groups and then engage in a
general class discussion, with groups taking it in turns to lead the initial discussion.
How would you describe Tough Mudder’s strategy?
Figure 1.5 on page 13 provides a template that can be applied to Tough Mudder and is a
ST
good starting point.
Strategy as positioning Strategy as direction
Where are we competing? What do we want to
UV
Tough Mudder hosts 10 to 12 mile endurance become?
obstacle runs which participants complete in A ‘household brand name’
teams. which retains an
The company operates in a range of different ‘unconventional and edgy’
locations in 9 different countries. image
The company designs, runs and markets its
IA
own events but partners with a number of other
organizations to supplement its resources and
capabilities and to generate revenue.
_A
How are we competing? What do we want to
The ‘endurance sports’ market is very achieve?
competitive and has relatively low barriers to To create ‘life-changing
entry. Tough Mudder endeavours to build and experiences for
sustain competitive advantage by differentiating participants’.
PP
itself from its rivals in terms of its:
• strategic positioning
• brand name and reputation
• product design
• the quality of the customer experience it
RO
offers
based on meticulous operational planning,
highly effective staff recruitment and selection
processes, sophisticated marketing and design,
a strong corporate culture and continuous
VE
innovation.
How will we get there?
By retaining a strong focus
and sense of corporate
identity.
D?
By engaging in a process
of continuous innovation
By partnering with other
organization that
complement the brand
Why has the strategy been successful?
Downloaded by: tutorsection | Want to earn $1.236
Distribution of this document is illegal extra per year?
