Business Strategy

Catalog description

Interpretation of business concept in the analysis of problems related to the successful management of a company, institution, or organization. Business Strategy is the study of managerial decision­making in a firm's competitive space. As such, the course focuses on the formulation and implementation of corporate strategy sets as if the student was on the top management team (TMT) inside a for­profit organization. The course covers topics such as decision­making under uncertainty, environmental scanning and sequential updating, industry structure, the firm's regulatory constraints, relative bargaining power, Porters Five Forces, industry barriers to entry, industry value chain analysis, firm­level resources and capabilities, competitive advantage, corporate­level strategy, business­level strategy, and collaborative strategies such as franchising, licensing and joint ventures. The overarching goal of the strategic manager is to ensure that the firm survives and thrives and, with these goals in mind, Business Strategy addresses the actions and outcomes to corporate decisionmaking. The course has a number of objectives in addition to learning and retaining information on the aforementioned topics. These include (i) obtaining critical thinking skills necessary to function as a strategic manager or to perform the tasks comprising the strategic management process, (ii) integrate and apply the knowledge accumulated in various functional areas, such as marketing, human resource management, operations, accounting and finance, (iii) prepare you for management careers by providing in­class opportunities for you to enhance your ability to communicate orally and in written formats, (iv) to lead and to work with others in realistic work settings, (v) expose you to the ethical and societal issues raised in operating an enterprise, and (vi) to provide you with experience in dealing with real strategic decision issues facing managers in all types of organizations. This is accomplished through a number of pedagogical mechanisms that include news articles, case studies, academic articles, documentaries, simulations and written assignments.