Course Description
This half-semester course is intended to be an extension of course 15.902, Strategic Management I, with the purpose of allowing the students to experience an in-depth application of the concepts and frameworks of strategic management. Throughout the course, Prof. Hax will discuss the appropriate methodologies, concepts, and tools pertinent to strategic analyses and will illustrate their use by discussing many applications in real-life settings, drawn from his own personal experiences.
Highlights of this Course
This course includes a full set of lecture notes, based on the two course textbooks. Both texts are co-authored by Professor Hax. Examples of student projects are also available in the assignments section.
Syllabus
Prerequisite
15.902, Strategic Management I
Broad Description of the Course
This course is intended to be an extension of course 15.902, Strategic Management I, with the purpose of allowing the students to experience an in-depth application of the concepts and frameworks of strategic management. Throughout the course, Professor Hax will discuss the appropriate methodologies, concepts, and tools pertinent to strategic analyses and will illustrate their use by discussing many applications in real-life settings, drawn from his own personal experiences.
Teaching Methodology
This course will use a combination of readings, case studies, lectures, and group research projects conducted by the students. The primary focus of the course will be on students working in teams to develop the strategic analysis of a business of their choice.
Required Textbooks
Hax, and Majluf. The Strategy Concept and Process: A Pragmatic Approach. 2nd ed. Prentice Hall, 1996.
Hax, and Wilde. The Delta Project: Discovering New Sources Of Profitability. Palgrave, 2001.
Readings from these books will be reassigned to allow for further more in-depth reflection on each relevant topic.
Package of additional readings might be distributed as the course progresses.
Requirements
The requirements are two-fold:
Group assignment for the development of a business strategy. The students will select their own groups, limited to at most 4 people per group, to develop a full business strategy. The students will present a written report. The report should address the following issues:
Executive Summary
Strategic Positioning of the Business
Customer Segmentation and Customer Value Proposition
Mission of the Business
Environmental Scan at the Business Level (Opportunities and Threats)
Internal Scrutiny at the Business Level (Strengths and Weaknesses)
Strategic Agenda of the Business
Customer Targeting
Operational Effectiveness
Innovation
Aggregate and Granular Metrics
Economic Evaluation of the Business Strategy
Conclusions
SES # TOPICS READINGS
1 The Frameworks of Strategic Management Revisited Hax, and Majluf, Chapters 1 and 2.
Hax, and Wilde, Chapter 1.
2 Customer Segmentation and Customer Value Proposition Hax, and Majluf, Chapters 3 and 4.
Hax, and Wilde, Chapters 2-5.
3 The Crafting of the Strategic Agenda Hax, and Majluf, Chapters 5-8.
Hax, and Wilde, Chapter 6.
4 Corporate Strategic Issues Hax, and Majluf, Chapters 9-17.
5 Customer Targeting Hax, and Wilde, Chapter 7.
6 Operational Effectiveness Hax, and Majluf, Chapter 21.
7 Strategy and Organizational Structure
Guest Lecturer: Hansjörg Wyss (Chairman and CEO, Synthes-Stratec)
8 Innovation Hax, and Majluf, Chapter 20.
9 Functional Strategies: The Case of Human Resources Management Hax, and Majluf, Chapters 18 and 19.
10 Aggregate and Granular Metrics Hax, and Wilde, Chapters 9 and 10.
11 Implementing Strategy
Guest Lecturer: Tom Stephens (Chairman, Unilever De México)
General References
Bartlett, C., and S. Ghoshal. Managing Across Borders: The Transnational Solution. Harvard Business School Press, 2002.
Brandenburger, A. M., and B. J. Nalebuff. Co-opetition. Doubleday, 1996.
Christensen, C. The Innovators Dilemma: When Technologies Cause Great Firms to Fail. Harvard Business School Press, 1997.
Collis, D., and C. Montgomery. Corporate Strategy: Resources and the Scope of the Firm. Irwin, 1997.
Cusumano, M. A., and C. C. Mardikes, eds. Strategic Thinking for the New Economy. Jossey Bass, 2001.
Foster, R., and S. Kaplan. Creative Destruction. Currency Doubleday, 2000.
Galbraith, J. Designing the Global Corporation. Jossey Bass, 2000.
———. Designing Organizations: An Executive Briefing on Strategy, Structure, and Process. Jossey Bass, 1995.
Ghemawat, P., D. Collis, G. Pisano, and J. Rivkin. Strategy and the Business Landscape. Prentice Hall, 2001.
Ghoshal, S., and C. A. Bartlett. The Individualized Corporation. HarperBusiness, 1997.
Goold, M., A. Campbell, and M. Alexander. Corporate-level Strategy: Creating Value in a Multibusiness Company. Wiley, 1994.
Grove, A. Only the Paranoid Survive: How to Exploit the Crisis Points that Challenge Every Company and Career. Currency Doubleday, 1996.
Hamel, G. Leading the Revolution. Harvard Business School Press, 2000.
Hamel, G., and C. K. Prahalad. Competing for the Future. Harvard Business School Press, 1996.
Hayes, R., G. Pisano, and D. Upton. Strategic Operations: Competing through Capabilities. Free Press, 1996.
Kaplan, R. S., and R. Cooper. Cost and Effect. Harvard Business School Press, 1998.
Kaplan, R. S., and D. P. Norton. The Strategy-focused Organization. Harvard Business School Press, 2001.
Kotter, J. P. Leading Change. Harvard Business School Press, 1996.
McTaggart, J., P. Kontes, and M. Mankins. The Value Imperative: Managing for Superior Shareholder Returns. The Free Press, 1994.
Pfeffer, J. The Human Equation. Harvard Business School Press, 1998.
Porter, M. Competitive Advantage. Free Press, 1985.
———. The Competitive Advantage of Nations. Free Press, 1990.
Reichheld, F. Loyalty Rules. Harvard Business School Press, 2001.
Saloner, G., A. Shepard, and J. Podolny. Strategic Management. John Wiley, 2001.
Slywotzky, A. J., and D. J. Morrison. The Profit Zone. Times Business, 1997.
Ulrich, D. Human Resource Champions. Harvard Business School Press, 1997.
Utterback, J. Mastering the Dynamics of Innovation: How Companies Can Seize Opportunities in the Face of Technological Change. Harvard Business School Press, 1994.
Strategy and the Internet
Bovet, D., and J. Martha. Value Nets. Wiley, 2000.
Brynjolfsson, E., and G. Urban, eds. Strategies for e-Business Success. Jossey Bass, 2002.
Cusumano, M., and D. Yoffie. Competing on Internet Time. Touchstone, 2000.
Evans, P., and T. Wurster. Blown to Bits. Harvard Business School Press, 2000.
Kelly, K. New Rules for the New Economy. Viking, 1998.
Shapiro, C., and H. Varian. Information Rules. Harvard Business School Press, 1999.
Siebel, T. M. Taking Care of e-Business. Currency Doubleday, 2001.
Slywotsky, A., and D. Morrison. How Digital is Your Business. Crown Business, 2000.
Tapscott, D., D. Ticoll, and A. Lowy. Digital Capital. Harvard Business School Press, 2000.
Journals of Particular Relevance
California Management Review
Harvard Business Review
Sloan Management Review
Strategic Management Journal
Lecture Notes
Lecture notes for this course are listed below by topic.
The Five Frameworks for the Study of Strategy (PDF)
Business Strategy (PDF)
Customer Targeting (Marketing) Strategy (PDF)
Operational Effectiveness (Supply Chain) Strategy (PDF)
Innovation (Technology) Strategy (PDF)
Granular Metrics, Feedback and Experimentation (PDF)
Aggregate Metrics and the Balanced Scorecard (PDF)
http://dspace.mit.edu/html/1721.1/36362/15-904Fall-2003/OcwWeb/Sloan-School-of-Management/15-904Strategic-Management-IIFall2003/LectureNotes/index.htm
Examples of two group assignments:
Example 1 (PDF)
Example 2 (PDF)
http://dspace.mit.edu/html/1721.1/36362/15-904Fall-2003/OcwWeb/Sloan-School-of-Management/15-904Strategic-Management-IIFall2003/Assignments/index.htm
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