Strategy

Faculty

• Philip Bromiley [profile]
• Yan Gong [profile]
• Margarethe Wiersema [profile] [website]
• Yu Zhang [profile]

Visiting & Affiliated Faculty and Researchers

• Greg Autry [profile]
• Dick Chandler [profile] [website]
• Brad Killaly [profile]
• Leonard Lane [profile] [website]
• Emile Pilafidis [profile] [website]
• Mark Roeske [profile] [website]
• Arjan Singh [profile] [website]
• Marc Ventresca [profile] [website]

Required Courses

210 Business Strategy
As the emphasis on bottom-line performance has increased due to external financial market pressures and globalization, managers are increasingly concerned with how to develop and sustain competitive advantage – the basis for superior performance. Strategic management goes to the heart of how managers add value to the firm by focusing on how managers should evaluate and assess their organizations and competitive environments in order to develop a competitive advantage in the marketplace.

The objectives of this course are to provide conceptual frameworks and successful techniques by which to analyze, develop, and implement the competitive strategy of the firm. An understanding of competitive strategy requires an assessment and analysis of the firm’s competitive marketplace and the firm’s stock of resources and capabilities. The course begins with providing frameworks for understanding the dynamics of industry structure, the evolution of this structure, and the pattern of interaction among the competitors in the industry. The course then focuses on an assessment and analysis of the organizational resources and routines that form the basis for firm-specific capabilities. The course if focused on developing a competitive strategy based on the leveraging of firm-specific capabilities in the marketplace.

This course is designed to improve decision-making in a competitive and dynamic environment and thus enable the manager to take action to improve the firm’s competitive position. The approach of the course is practical and problem-oriented. A major part of the course will involve applying concepts, frameworks, analytical techniques, and managerial insights to the strategic issues which real world companies face. In applying strategic analyses to real-world situations, students are placed in the role of key decision makers and asked to address questions regarding their evaluation of the marketplace and organization. One major objective of the course is to improve one’s capacity for strategic thinking and action by developing frameworks by which to assess, evaluate, and respond different business situations through the use of case analysis and discussion.

Elective Courses

213 New Venture Management
Course focuses on survival and growth of new ventures—relatively recently founded firms that are both young and small, but not by design and not for long. Founders of these new firms seek high growth and expect them to develop into complex enterprises. However it is well established that new firms fail at a high rate, a phenomenon called the “liabilities of newness.” Building from contemporary research the course identifies key issues that contribute to new venture failure and articulates managerial actions to increase the likelihood of new venture survival and financial success. Methods include analysis of live cases, guest speakers, discussion, and field projects with contemporary entrepreneurs to learn about successful new venture management and surviving the liabilities of newness.

214 Entrepreneurship
This is a project course in which student teams develop a business plan to launch a new venture. Drafts of sections of the plan are due throughout the course. The final business plan is presented to a panel of private investors, venture capitalists, entrepreneurs, experienced executives, and faculty. The course assumes that entrepreneurship is a social process, rather than a transaction, whose goal is to create a new organization Entrepreneurship is not about running a small business. It is about founding a new organization to create financial or social value. We will consider an array of related issues ranging from idea development and creation to going public or
harvesting the venture.

215 Global Competitive Strategy
This course relies heavily on in-class case analyses and a set of cascading papers, which are described below. You will note that the calendar/syllabus is the one we used in 2004; it will be somewhat adjusted as I am able to confirm the dates for our definitely two and possibly three guest speakers who will share their knowledge with us.
The overseas activities of multinational enterprises generate annually about $19 trillion in revenue from about 850,000 “foreign” subsidiaries. The value of the world’s international trade is only about half that amount. Consequently, the international activities of corporations – both large and small – are a significant component of the world’s total economic activity. As such, most MBA graduates, sooner rather than later, are going to be involved in operating in a global arena. This course is designed to give students an understanding of the complexities of international operations as well as how to take advantage of these opportunities.


Global Competitive Strategy examines the opportunities, challenges, and strategies of operating firms with an international presence. Among other topics, we will be examining:
• the potential for companies to be competitive in the global arena,
• the nature of industry structure on a global basis,
• achieving global strength,
• international risk,
• various functional areas such as operations, marketing, and human resources,
• design and implementation of a global organization, and
• development of global strategy.
To address these topics and others, we will use seven or eight Harvard cases featuring such firms as Microsoft, Procter & Gamble, Colgate Palmolive, Philips, and several non-US firms. The cases deal with international operations in the U.S., the U.K., Spain, China, the Philippines, and Southeast Asia in general. The cases are tied into the short text, George Yip’s Total Global Strategy II, which will provide a helpful conceptual underpinning for our discussions on the strategic as well as managerial aspects of international business. In addition, we will be using a course pack of readings from various sources.

218 Business Dynamics [ITM Course]
Business Dynamics - Strategies for Survival and Business Change

While it is well accepted that the goal of strategic management is the attainment and preservation of sustainable competitive advantage, increasingly agile and dynamic competitors can quickly turn a manager’s strategy for advantage into an inflexible path for demise. Today’s innovative and fast-paced competitive environment demands a new level of managerial thinking that can pursue competitive advantage while simultaneously developing the ability to respond to challenges to organizational survival. It is this ability to ensure organizational survival as one pursues competitive advantage that is the focus of Business Dynamics.

Business Dynamics aims to improve both your ability to analyze sudden challenges to organizational survival and to quickly implement a winning response. We will enhance your competitive analytical skill by dissecting some of the more complex challenges to organizational survival such as increasing foreign competition, innovation in knowledge intensive industries, unforeseen regulatory changes and competitor product launches. Once we can identify and understand the survival challenges, we will formulate a strategic response including an action plan for implementation. These strategic responses include international alliances, developing and managing a network of technology and business alliances, foreign direct investment and mergers and acquisitions. Business Dynamics is specifically designed as a strategy elective that builds upon the core course in Business Strategy (210). Individuals eager to enhance their skills in strategic analysis and formulation will find the course particularly valuable.

290 Competitive Intelligence
Competitive intelligence is a combination of an “art” (CI focused strategy), science (analytical techniques) and craft (learning from experience of managing and doing CI). An effective competitive intelligence program (CIP) is a core foundation upon which competitive strategies and execution tactics are developed, assessed and modified.
The heart of the course is developing a CIP. The CIP is a continuous process that integrates both formal and informal intelligence gathering processes by which managers in the organization assess, disseminate and use key trends, emerging discontinuities, the evolution of industry structure and the capabilities and behaviors of current and potential competitors to assist in formulating and implementing strategy and tactics.

The course will focus on how to design a CIP and produce actionable intelligence based on a framework that provides answers to three critical questions:
To what extent do we understand why and how strategic interactions with competitors and non-market forces impact our competitive position?

To what extent is intelligence integrated (flows) to managers on a timely basis? Four elements are focused on in this process: behavioral, political, organizational systems/processes and mental models.
To what extent and in what manner is competitive intelligence factored into the corporate/business unit decision making and implementation process?

A CIP is an essential part of an intelligence focused strategy. The result of a deep understanding and implementation of a CIP is sustainable and profitable growth.
The methods of intelligence collection, analysis, dissemination and counter intelligence are framed within a global context.

The course will rely heavily on cases and selected readings and will conclude with a “War Game” in which teams, utilizing insights and models developed during the course will engage in an industry battle for competitive advantage.

The course is particularly relevant for students interested in the areas of strategic planning, marketing, MIS, international business and finance, although everyone is welcome.

290 Mergers & Acquisitions Growth Strategies
Growth through mergers and acquisitions can provide an attractive means to jump start a stagnant company, leverage its core competencies or diversify into attractive adjacent markets, but it is a strategic path fraught with risks. When is it the best course versus alternative growth strategies? What is the “perfect “fit” test for evaluating target companies? What antitrust considerations must the acquirer bear in mind? Addressing those questions will provide the strategic backdrop for a more detailed review of the techniques and mechanics of growing through acquisition: merger economics, deal structure, valuation, negotiation tactics, legal considerations, due diligence, closing the deal and post-closing integration. The course will conclude with units on deal financing and leveraged buyouts, corporate restructuring and takeover defenses. Each week a different acquisition oriented case will be discussed. Two papers during the course will require developing pricing proposals and building financial models of actual target companies described in unpublished cases. For the final project, the student will prepare for a board of directors an acquisition proposal that identifies a target company, justifies the strategic rationale, analyzes different purchase prices, proposes a financing plan and calculates an internal rate of return for the acquiring company or investors. The course will thus interweave three M&A strands: strategic considerations, operational methodologies and financial modeling techniques. Upon completion of the course, the diligent student will be ready to acquire his or her first company.

290 Social Responsibility
tba

290 Misc. Strategy Elective
tba

290 Managing in a Global World
The class on Global Business will examine the issue of globalization, perhaps the single most important force at work in contemporary society, business management and economics. Globalization is a complex phenomenon and the class will explore its causes, nature, effects and implications for managers in modern business organizations. Specifically the class will focus on the duality of global business, i.e., understanding the global context, scope, and opportunities as well as specific cultural, historical, political, social, and economic issues impacting the global business environment.

Topics to be covered will include context issues involving trade, monetary policy, the dynamics of national interests , international interests and business strategy and the promise and problems of globalization; the drivers and evolution of international and global business including strategy and structure; the importance of foreign direct investment; the importance of culture and the development of a global mindset.

The unifying thread will be to understand the impact of these drivers on a firm’s ability to gain a competitive edge in a global context. The outcome for students will be a practical understanding of the context and operational issues they must address as mangers in a globalizing world. The course will be highly participatory and rely heavily on case studies, guest speakers and research that is currently being conducted on these topics.

290 Topics in Strategic Innovation
As global competition heats up at an ever-increasing pace, the ability to innovate becomes a vital strategy for every business. Yet it is not enough to focus on a single, breakthrough innovation or a series of small incremental changes. The business of tomorrow will only grow through a sustainable approach and practice of innovation.

This course will incorporate three elements:
Organizing for Innovation
• Vision and Leadership
• Infrastructure, competition, cooperation
• Policies
• Strategies
• Thinking styles
• Processes

Innovation in a Global Context
• New primary research on Chinese markets
• Innovation in lasers, stem cells, fuel cells at UCI
• Microfinance, water, and cell phones in emerging markets
• The future being invented today around the globe

Innovation at Work
Every student will take part in a team project for an existing business or organization that will incorporate the principles of innovation, help develop strategies, and deliver added value.

The course will include case studies of organizations including Cirque de Soleil, Samsung and Apple; examination of new research; a panel of expert speakers; and hands-on participation in an innovative project.

290 Business Dynamics and Competitive Intelligence
tba

290 Design
tba

290 The Practice of General Management
tba

290 Corporate Crisis Management
tba

290 Senior Management Issues
General Managers face a different set of challenges than functional executives. There is always more at stake. They must choose an overall strategic direction for the business and then take responsibility for its product/service superiority, market share gains/losses, technological excellence/shortcomings, operational effectiveness, customer service levels, employee morale and of course profitability and ultimate survival. The prior experience of a newly promoted GM will have left many of these bases uncovered. There is no science and little academic literature to tell us why some CEOs and general managers succeed brilliantly and others fail dismally, despite all having proven their mettle in lower level positions. Instead, the lessons of senior leadership must be gleaned from the best practices being employed by executives across a variety of business settings.
This course is designed to teach the graduating MBA how the best managers actually manage. Students will develop throughout the course a toolkit of proven concepts and practices that will help them succeed as general managers and ultimately CEOs. The toolkit will include philosophical principles, practical techniques, analytical skills and a series of memorable “management axioms.” The course is organized around modules, each reflecting a facet of the general manager’s job. Some representative topics: Taking Command, Strategic Vision, Turnaround Management, Managing by the Numbers, Organic Growth, Operational Excellence, People Management, Growth through Acquisitions, Global Expansion, and Crisis Management. The lessons to be learned in each case will be derived from seminal readings in the practice of general management, from the course text Good to Great by Jim Collins, and from case studies in CEO leadership. Each class session will begin with a discussion question, such as, “What steps should a new manager take in assuming command of any new organization?” There will then be a lecture on the day’s topic referencing many real world business examples. Finally, a case discussion will examine general management successes and failures in different industries. The course will also have as guest speakers several successful CEOs who will add their perspectives.
The class will require four individual written assignments that put the student in the shoes of a general manager. In place of a final exam, students will write a paper of 8-10 pages that develops a “good to great” plan for an organization familiar to them. Students often find that this paper can be very useful in their job settings. While the course covers topics specific to the general manager or CEO, woven throughout will be personal leadership lessons that can help department managers at all levels deliver improved results and accelerate their career advancement. You will learn how to manage strategically—positioning your operation for long term success—based on principles that apply in any organizational setting. This course poses a central question to all managers: If they took away your title, would people still follow you? After students successfully complete this course, the answer should be a resounding “Yes”.

290 Entertainment/Content Convergent Business Strategies
An Entertainment/Content Business Strategy is the top executive proactive optimal strategic management of one-to-many creative business projects within the economic realities of the Enterprise. Whether a feature film, an internet streaming video, a high-tech television commercial, a computer game, a theme park ride, a focused corporate advertising or promotional program, a live rock musical concert, or any number of other types of internal and external media productions, the nature of Content production and management requires a strong knowledge of the economic models and operational framework of the Entertainment Industry, even for executives in companies in completely different industries.

With its inherently unique financing models and ubiquitous contract variety, the Entertainment Industry is today converging with the High Technology Industry, and evolving into the Content Industry, affecting virtually every form and type of corporate strategic endeavor. Advertising, promotion, web sites, business-to-business e-Commerce, distribution, and even financing are all increasingly driven by the nature and management of the informational Content decisions and strategy chosen and managed by top executives. As Peter Drucker says, “Business has only 2 purposes: Innovation and Marketing.” Strategic Content management expertise at the highest corporate levels is key to both.

This course exposes the student to the background and operative business models of many forms of Content acquisition/generation, financing, production, distribution, exhibition/display and creative project management, concentrating on the management decision factors, techniques, and insights which lead to success. The course involves learning and applying the concepts and unique facets of Intellectual Property, content analytical techniques, and managerial insights to the strategic issues which real-world Entertainment and other industrial companies face. Breakeven and ROI analyses are an integral part of strategic project decisions, and are illustrated and applied in their many variations. Film and television celebrities and visionaries are planned to be guest lecturers, as their schedule permits.

The major objectives of this course are:

1. To acquire proficiency with the principal concepts, frameworks, and techniques of strategic content project acquisition/analysis and production management, as used by top executives in the Entertainment and other Content-heavy Industries,

2. To gain expertise in applying these concepts, frameworks, and analytical techniques in order to predict the performance by a company’s Internet, content project, project stream, or production enterprise, generate strategic alternatives, and select the most appropriate strategy.

3. To integrate the knowledge gained in previous courses with the frameworks of strategic management of Content production and Content-based projects.

4. To develop capabilities as a general manager in understanding the operations of and managing effectively a business enterprise which has significant Content production, or has a heavy Internet strategic direction planned or operative.