Module Aims and Learning Outcomes

Syllabus Outline

NBS8078

Strategy for Managers

2015-16

Module aims and learning outcomes

Aims:

• To provide students with an introductory appreciation of the formulation and implementation of business strategy.
• To focus attention on the way in which strategic decisions are made and the influencing factors.
• To provide students with a critical understanding of various models of strategic management.
• To provide students with the necessary skills to critically evaluate the corporate and business level strategies of an organisation, to reflect on research conducted on the subject and to prepare students for the subsequent module on International Business Strategy.

Summary:

This module provides a foundation for students who will go on to take a course in International Business Strategy. It enables students to understand the nature of business strategy, and the processes and techniques involved and employed in the formulation and implementation of business strategy. The module thus provides students with the necessary skills to critically evaluate the corporate and business level strategies of an organisation, and to reflect on research conducted thereon.

Staff Contacts

Module Leader: Dr Tom McGovern

Email:

Lecture Timetable [9 sessions]

Time:9.30-11.30am

Venue:NUBS Room 4.08.

Date: Friday, 9 October 2015

Friday, 16 October 2015

Friday, 23 October 2015

Friday, 30 October2015

Friday,6 November2015

Friday,13 November 2015

Friday, 20 November 2015

Friday, 27 November2015

Friday, 4 December 2015

Seminars

Time:1.30-3.30pm and 5.30-6.00pm

VenueNUBS Room 3.06

Date:Tuesday, 8 December 2015

Students will be organised into groups of 20 for the seminars.

Attendance

Students are expected to attend and to do preparatory reading for all sessions. Students are expected to arrive at lectures on time.

Assessment

100% examination at the end of the First Semester. The assessment method ensures that students have the opportunity to demonstrate their understanding of the fundamental ideas and common techniques associated with the practice of business strategy. The exam paper is 2 hours. Students will be required to answer2 questions from a choice of 6.

Marking criteria

As per relevant business/management degree programme handbooks.

Principal Texts

Essential Text Book

Clegg C, Carter C, Kornberger M and Schweitzer J (2011) Strategy: Theory & Practice, Sage.

Recommended

Mintzberg H, Lampel J, Quinn J B and Ghoshal S (2003) The Strategy Process, Concepts Contexts Cases, Fourth Edition, Prentice Hall.

Mintzberg H, Ahlstrand B and Lampel J (2008) Strategy Safari, 2nd Edition Prentice Hall.

Course Outline

Friday, 9 OctoberIntroduction to Strategy (1)

Friday, 16 October Introduction to Strategy (2)

Friday, 23 OctoberPorterian Strategy

Friday, 30 OctoberMixed Strategies

Friday, 6 NovemberResource Based View

Friday,13 NovemberStrategic Decision-Making

Friday, 20 November Power and Politics

Friday, 27 NovemberCooperative Strategies

Friday, 4 DecemberOrganisational Decline and Turnaround Strategies Revision

Module Schedule

Readings labelled ‘*’ Indicates core reading

Session 1. Introduction to Strategy

Principal and recommended books

Clegg et al, Chapters 1 and 4.

Mintzberg H Ahlstrand B and J. Lampel, Chapters 1-3

The following articles from Mintzberg H, Lampel J, Quinn J B and Ghoshal S, The Strategy Process:

*Mintzberg H, Five Ps for strategy, pp 3-9.

*Mintzberg H, Crafting Strategy, pp 141-48.

*Quinn J B, Logical incrementalism, pp 183-88.

Articles

*Ansoff H I (1991) Critique of Henry Mintzberg's The Design School: Reconsidering

the basic premises of strategic management.Strategic Management Journal, 12(6):

449-61.

Ansoff H I (1994) Comment on Henry Mintzberg's rethinking strategic planning.Long Range Planning, 27(3): 31-2.

Brews PJ and Hunt MR (1999) Learning to plan and planning to learn: Resolving the planning/learning school debate. Strategic Management Journal, 20(10):889-913.

Goold M (1992) Design, Learning and Planning: A further observation on the Design School debate.Strategic Management Journal,13(2): 169-70.

*Hamel G (1996)Strategy as revolution.Harvard Business Review, 74(4): 69-82.

*Jarzabkowski P and Kaplan S (2015) Strategy tools-in-use: a framework for

understanding “technologies of rationality” in practice. Strategic Management

Journal, 36(4): 537-558.

*Mintzberg H and Waters J A (1985)Of strategies deliberate and emergent.

Strategic Management Journal, 6(3): 257-272.

*Mintzberg H (1990) The Design School: Reconsidering the basic premise of

Strategicmanagement.Strategic Management Journal, 11(3): 171-95.

Mintzberg H (1991) Learning 1, Planning 0 reply to Igor Ansoff.Strategic Management Journal, 12(6): 463-66.

*Mintzberg H (1994) Rethinking strategic planning. Part 1: Pitfalls and Fallacies.

Long Range Planning,27(3): 12-21.

*Mintzberg H (1994) Rethinking strategic planning. Part 2: New roles for planners.Long Range Planning, 27(3): 22-30.

Mintzberg, H. and Lampel, J. (1999) Reflecting on the Strategy Process.Sloan Management Review, 40(3) 21-30.

*Porter M E (1996) What is Strategy?Harvard Business Review, 74(6): 61-78.

Wiltbank R, Dew N, Read S and Sarasvathy SD (2006) What to do next? The case for non-predictive strategy. Strategic Management Journal, 27(10): 981-998.

Session 2.Porterian Strategy

Clegg et al, Chapter 2.

*Porter M E (1980) Competitive Strategy. The Free Press, Chapters 2 and 7.

*Porter M E (1996) What is Strategy? Harvard Business Review, 74(6): 61-78.

Session 3.Mixed Strategies

Case Study: The IKEA approach(to be provided)

Principal and recommended books

The following article from Mintzberg H, Lampel J, Quinn J B and Ghoshal S:

*Mintzberg H, A Guide to strategic positioning, pp 127-38.

Articles

Faulkner D and Bowman C (1992 ) Generic strategies and congruent organisational structures: Some suggestions. European Management Journal, 10(4): 494–500.

Leitner K and Gűldenberg S (2010) Generic strategies and firm performance in SMEs: a longitudinal study of Austrian SMEs. Small Business Economics, 35:169–189.

*Hendry J (1990) The problem with Porter’s generic strategies.European Management Journal, 8(4): 443-50.

*Hill C W (1988) Differentiation versus low cost or differentiation and low cost: a contingency framework.Academy of Management Review, 13(3): 401-12.

Mathur S S (1988)How firms compete: a new classification of generic strategies.

Journal of General Management,14(1): 30-57.

Miller A and Dess G G (1993) Assessing Porter's (1980) model in terms of its generalizability, accuracy and simplicity.Journal of Management Studies, 30(4): 553-85.

Miller D (1988) Relating Porter's business strategies to environment and structure: analysis and performance implications.Academy of Management Journal, 31(2): 280-308.

*Miller D (1992) The generic study trap.Journal of Business Strategy, 13(1): 37-

41.

*Sharp B and Dawes J (2001) What is differentiation and how does it work?Journal of Marketing Management, 17(7/8): 739-59.

White R E (1986) Generic business strategies, organisational context and performance: an empirical investigation.Strategic Management Journal, 7(3): 217-31.

Session 4. Resource Based View

Case Studies: The Formula 1 constructors (to be provided).

The Formula 1 constructors: capabilities for success (to be provided)

Principal and recommended books

Clegg et al, Chapter 3.

Articles

Arend AJ andLévesque M (2010) Is the resource-based view a practical

organizational theory? Organization Science 21(4): 913–930.

*Barney JB (1991) Firm resources and sustained competitive advantage, Journal of Management. 17(1): 99–120.

*Barney J B (1995) Looking inside for competitive advantage.Academy of Management Executive,9(4): 49–61.

*Collis D J, and Montgomery C A (1995) Competing on Resources: Strategy in the

1990’s. Harvard Business Review, 73(4): 118-28.

*Grant R M (1991) The resource-based theory of competitive advantage: implications

for strategyformulation.California Management Review, 33(3): 114-35.

*Hamel G and Prahalad C K (1994) Competing for the future. Harvard Business Review, 72(4): 122-28.

*Helfat C E (ed) (2000)The Evolution of Firm Capabilities.Special Issue Strategic Management Journal, 21(10/11), 2000 (a selection of very good articles).

*Helfat C E and Peteraf M A (2015) Managerial Cognitive Capabilities and the microfoundations of dynamic capabilities. Strategic Management Journal, 36(6): 831-850.

*Hoopes D G, Madsen T L and Walker G (eds) (2003) Why is there a resource-based view? Toward a theory of competitive heterogeneity.Special issue Strategic Management Journal, 24(10) (a selection of very good articles).

Kraaijenbrink J, Spender JC and Groen AJ (2010) The resource-based view: A review and assessment of its critiques. Journal of Management, 36(1): 349-372.

Lavie D (2006) The competitive advantage of interconnected firms: an extension of the resource-based view. Academy of Management Review, 31(3): 638-658.

MacLean D, MacIntosh R and Seidl D (2015) Rethinking dynamic capabilities from a creative action perspective. Strategic Organization available online.

*Peteraf M (1993) The cornerstones of competitive advantage: a resource base view.

Strategic Management Journal, 14(3): 179-91.

*Prahalad C K and Hamel G (1990) The core competence of the corporation.Harvard

Business Review, 68(3): 79-91

Priem R and Butler J (2001) Is the resource-based ‘view’ a useful perspective for

strategic management research.Academy of Management Review, 26(1): 22-40.

Rindova VP and Fombrun CJ (1999) Constructing competitive advantage: The role

of firm –constituent interactions.Strategic Management Journal, 20(8): 691–710.

Teece DJ (2007) Explicating dynamic capabilities: The nature and microfoundations

of (sustainable) enterprise performance. Strategic Management Journal, 28(13):

1319-50.

*Teece D, Pisarri G and Shuen (1997) Dynamic capabilities and strategic

Management.Strategic Management Journal, 18(7): 509–33.

Wernerfelt B (1984) A resource-based view of the firm.Strategic Management Journal, 5(2): 171-80.

Session 5.Strategic Decision-making

Clegg et al, Chapter 8

Case Studies: United Nations Climate Change Conference 2009 (pp. 290-92); Deciding Nuclear Armageddon (pp. 268-70).

Allison, G.T. (1969) Conceptual models and the Cuban missile crisis. American Political Science Review, 63(3), 689-718.

*Cohen, D.M., March, J.G. and Olsen, J.P. (1972) A garbage can model of organizational choice. Administrative Science Quarterly, 17(1), 1-25.

Eisenhardt, K.M. (1999) Strategy as strategic decision making. Sloan Management Review, 40(30), 65-72.

*Lindblom, C.E (1959) The science of ‘muddling through’. Public Administration Review, 19(2), 79-88.

Lindblom, C.E. (1979) Still muddling, not yet through. Public Administration Review, 39(6), 517-526.

Nutt, P. (1999) Surprising but true: Half the decisions in organizations fail. Academy of Management Executive, 13(4), 75-90.

Pettigrew, A.M. (1972) Information control as a power resource. Sociology, 6(2), 187-204.

Simon, H.A. (1997). Models of Bounded Rationality: Empirically Grounded Economic Reason. Cambridge, MA: MIT Press.

*Starbuck A (1983) Organizations as Action Generators. American Sociological Review, 48 (February): 91-102)

Staw, B.M. (1981) The escalation of commitment to a course of action. Academy of Management Review, 6(4), 577-587.

*Vaughan, D. (1997) The Trickle-Down Effect: Policy Decisions, Risky Work, and the Challenger Tragedy. California Management Review, 39(Winter): 1-23.

Session 6. Power & Politics

Clegg et al Chapter 9

Case Study: The Tobacco Firms (to be provided)

*Bachrach P and Baratz M (1962) The Two faces of Power. The American Political Science Review, 56(4): 947-952

*Carter C, Clegg S, Kornberger M (2010) Re-framing Strategy: Power, Politics and Accounting. Accounting, Auditing and Accountability Journal, 23(5): 573-593.

Crenson, M.A. (1971) The Un-Politics of Air Pollution: A Study of Non-Decisionmaking in the Cities. Baltimore, MD: John Hopkins Press.

Dahl, R.A. (1961) Who Governs? Democracy and Power in an American City. New Haven, CT: Yale University Press.

*Fleming P and Spicer A (2014) Power in Management and organization Science. Academy of Management Annals, 8(1): 237-298.

Hardy C and Thomas R (2014) Strategy, discourse and practice: the intensification of power. Journal of management Studies, 51(2):320-348.

Lukes, S. (2005) Power: A Radical View, Second Edition. Palgrave Macmillan.

Mitsuhashi, H. and Greve, H.R. (2004) Powerful and free: Intraorganizational power and the dynamics of corporate strategy. Strategic Organization, 2(2), 107-132.

*Pettigrew, A. M. (1979) On studying organizational cultures. Administrative Science Quarterly, 24, 570-581.

Session 7. Cooperative Strategies

Clegg et al Chapter 10

Case Study: The Renault-Nissan Alliance (to be provided)

Annan B N and Khanna T (2000) Do firms learn to create value in alliances? Strategic Management Journal, 21(3): 295-315.

*Buckley P J and Glaister W K (1996) Strategic motives for UK international alliance formation. Journal of Management Studies, 33(3): 301-32.

*Child J and Yan Y (2003) Predicting the performance of international joint ventures: an investigation in China. Journal of Management Studies, 40(2): 283-320.

*Choi C-B and Beamish P W (2004) Split management control and international joint venture performance. Journal of International Business Studies, 35(3): 201-15.

Dyer J H, Kale P and Singh H (2001) How to make alliances work. Sloan Management Review, 42(4): 37-43.

*Hamel G (1991) Competition for competence and inter-partner learning within international strategic alliances. Strategic Management Journal,12: 83-103.

Hitt A M, Ahlstrom D, Dacin T M, Levitas E and Svobina L (2004) The institutional effects on strategic alliance partner selection in transition economies: China vs Russia. Organization Science, 15(2): 173-85.

*Inkpen A C and Currall S C (2004) The coevolution of trust, control and learning in joint ventures. Organization Science, 15(5): 586-99.

*Kanter M R (1989) Becoming PALS: pooling, allying and linking across companies. Academy of Management Executive, 3(3): 183-193.

*Kogut B (1988) Joint ventures: theoretical and empirical perspectives, Strategic Management Journal, 9: 319-32.

Merchant H and Schendel D (2000) How do international joint ventures create shareholder value? Strategic Management Journal, 21(7): 723 – 737.

Shi W, Sun SL, Pinkham BC and Peng MW (2014) Domestic alliance network to attract foreign partners: Evidence from international joint ventures in China. Journal of International Business Studies45(3): 338–362

Yao Z, Yang Z, Fisher GJ, Mac C and Fang E (2013) Knowledge complementarity, knowledge absorption effectiveness, and new product performance: The exploration of international joint ventures in China. International Business Review, 22(1): 216–227.

Simonin B L (2004) An empirical investigation of the process of knowledge transfer in international strategic alliances. International Journal of Business Studies, 35(5): 407-27.

Session 8. Organisational Decline and Turnaround Strategies

Case Studies: Marks & Spencer, 1990-2001: Boardroom Battles (pp. 251-258); Marks and Spencer: where next for the icon of British retailing (to be provided);

Marks & Spencer: is this as good as it gets (to be provided)

Articles: Organisational Decline and Failure

Chen G (2014) Initial compensation of new CEOs hired in turnaround situations. Strategic Management Journal, available online prior to publication.

*Hambrick D C and D’Aveni R A (1988) Large corporate failures as downward spirals. Administrative Science Quarterly, 33(1): 1-23.

*Hannah L (1999) Marshall’s ‘trees’ and the global ‘forest’: were ‘giant redwoods’ different. In Learning by Doing in Markets, Firms and Countries, edited by N R Lamoreaux, DMG Raff and P Temin. Chicago: University of Chicago Press, pp. 253-86.

Hannan M T and Freeman J (1977) The population ecology of organizations. American Journal of Sociology, 82(5): 929-64.

*Hannan M T and Freeman J (1984) Structural inertia and organizational change. American Sociological Review, 49(2): 149-64.

Kroll M J, Toombs L A and Wright P (2000) Napoleon’s tragic march home from Moscow: lessons in hubris. Academy of Management Executive, 14(1): 117-28.

*Maccoby, Michael (2000) Narcissistic leaders: the incredible pros, the inevitable cons. Harvard Business Review, 78(1): 69-77.

*McGovern T (2007) Why do successful firms fail? A case study of the decline of Dunlop. Business History, 49(6): 886-907.

McGovern T (2011) The decline of the British tyre industry: An evaluation of the policies of the Tyre Industry Sector Working Party. Business History, 53(4): 600-616.

*McKinley W, Latham S and Braun M (2014) Organizational decline and innovation: turnarounds and downward spirals. Academy of Management Review, 39(1): 88-110.

*Mellahi K P, Jackson P and Sparks L (2002) An exploratory study into failure in successful organizations: the case of Marks and Spencer. British Journal of Management , 13(1): 15-29.

Mellahi K and Wilkinson A (2004) Organizational failure: a critique of recent research and a proposed integrative framework. International Journal of Management Review, 5/6(1): 21-41.

Meyer A D (1982) Adapting to environmental jolts. Administrative Science Quarterly, 27(4): 515-37.

Mone M A, McKinley W and Barker V L (1998) Organizational decline and innovation: a contingency framework. Academy of Management Review, 23(1): 115-132.

Probst G and Raisch S (2005) Organizational crisis: the logic of failure. Academy of Management Executive, 19(1): 90-105.

Ranft A L and O’Neill H M (2001) Board composition and high-flying founders: hints of trouble to come? Academy of Management Executive, 15(1): 126-38.

Staw B M (1981) The escalation of commitment to a course of action. Academy of Management Review, 6(4): 577-87

*Sull D N (1999) Why good companies go bad. Harvard Business Review, 77(4): 42-52.

Tangpong C, Abebe M and Li Z (2015) A temporal approach to retrenchment and successful turnaround in declining firms. Journal of Management Studies, 52(5): 647-677.

Trahms CA, Ndofor HA and Sirmon DG (2013) Organizational decline and turnaround: A review and agenda for future research. Journal of Management, 39(5): 1277-1307.

Articles: Turnaround Strategies:

*Barker V L III and Mone M A (1994) Retrenchment: cause of turnaround or consequence of decline. Strategic Management Journal, 15(5): 395-405.

*Barker III V L and Dunhaime I M (1997) Strategic change in the turnaround process: theory and empirical evidence. Strategic Management Journal, 18(1): 13-38.

*Barker III VL, Vincent L Patterson Jr, Paul W and Mueller G C (2001) Organisational causes and strategic consequences of the extent of top management team replacement during turnaround attempts. Journal of Management Studies, 38(4): 235-70.

Balgobin R and Naresh P (2001) Stages in the turnaround process: the case of IBM

UK. European Management Journal, 19(3): 301-16.

Bruton G D, Ahlstrom D and Wan J C C (2001) Turnaround success of large and

Midsize Chinese owned firms: evidence from Hong Kong and Thailand. Journal of

World Business, 36(2): 146-65.

Bruton G D, Ahlstrom D and Wan J C C (2003) Turnaround in East Asian firms: evidence from ethnic overseas Chinese communities. Strategic Management Journal, 24(6): 519-40.

Filatotchev I and Toms S (2006) Corporate governance and financial constraints on strategic turnarounds. Journal of Management Studies, 43(3): 407-33.

*Hambrick D C and Schecter S M (1983) Turnaround strategies for mature industrial-product business units. Academy of Management Journal, 26(2): 231-48.

*Harrigan K R and Porter M E (1983) End-game strategies for declining industries. Harvard Business Review, 61(4): 111-21.

*Hofer C W (1980) Turnaround Strategies. The Journal of Business Strategy, 1(1): 19-31.

Lohrke F T, Bedeian A G and Palmer T B (2004) The role of top management teams in formulating and implementing turnaround strategies: a review and research agenda. International Journal of Management Reviews, 5/6(2): 63-90.

McKinley W, Latham, S and Braun, M (2014) Organizational decline and innovation: turnarounds and downward spirals. Academy of Management Review, 39(1): 88–110.

Ndofor HA, Vanevenhoven J and Barker III V L (2013) Software firm turnarounds in the 1990s: an analysis of reversing decline in a growing dynamic industry. Strategic Management Journal, 34(9): 1123–1133

*Pearce J A and Robbins D K (1992) Turnaround: retrenchment and recovery. Strategic Management Journal, 13(4): 287-309.

*Robbins D K and Pearce J A (1994) Retrenchment remains the foundation of business turnaround. Strategic Management Journal, 15(5): 407-17.

Sudarsanam S and Lai J (2001) Corporate financial distress and turnaround strategies: an empirical analysis. British Journal of Management, 12(3): 183-99.

Session:Revision

1