Topic Name Description
Course Introduction Page Course Syllabus
1.1: Definition Page Introduction to Strategic Management
This video is an introduction to strategic management, starting with a traditional approach. It leads you through the major concepts that will follow in BUS501. Do not be overwhelmed by the scope of strategic management. You may want to have the course syllabus in front of you and note the flow of the course as you watch the video.
URL Business Strategy

Read through this book as a high-level introduction to Strategic Management and its applications. Outline or take notes as you read, and pay attention to the key points identified in each section. Consider the three-legged stool explanation 5 minutes into the video you just watched. How do the three legs compare with this book's three main processes of business strategic management?

1.1.1: Strategy Page What is Strategy?

As you watch the videos in this course, recognize that they have been produced by several different professors and often include references to activities and resources used in the course in which they have been recorded. Pay attention to key concepts stressed in the instructions included with each activity as you progress through BUS501.

Before you watch this video, write down your definition of strategy. Pay attention to the role of strategy in achieving organizational goals. This professor has recorded many informational lectures on strategy that cannot be specifically referenced in this course because of copyright issues. However, as you continue through the materials in this course, you are encouraged to do your own independent research to access other items by the professors with presentation styles that are meaningful to you.

Now, sit back and enjoy this overview of strategic management!

1.1.2: Markets Page Market Structure

Read this short article and study the diagram. This is a good reference item identifying and defining the four basic market structures. In developing a strategy, one needs first to identify the structure the firm is competing in.

Page Other Market Structures

This video defines and explains competition in each of the different market structures from an economics viewpoint. In which structure might uniqueness be the most important? In which structure might uniqueness be the least important?

Page Perfect Competition

As you watch this video, pay attention to the terms you've heard in your economics courses. Pause the video and review any terms that are unfamiliar to you. Can you name at least one business or service in your community that is an example of (near) perfect competition?

Page Monopoly

Watch this video for a better understanding of monopolies. Consider the current evolution of these two structures (perfect competition vs. monopoly) in an expanding global-enterprise environment.

1.1.3: Firms URL Price, the Only Revenue Generator

In microeconomics, the purpose of every business is to make a profit. In business strategy management, this profit motive is often opposed by organization goals that bend towards social welfare or the firm's reputation. Read the section on the firm's pricing objectives. Can you identify a business that appears to promote a non-profit business goal, such as being a "green" organization?

URL Developing Organizational Objectives and Formulating Strategies

Read this section, which serves as an overview of the strategic planning process from a market plan perspective. Various stakeholders may look to a firm to maximize different objectives. Think about how firms are in a competitive marketplace and how they can survive and thrive long term.

1.2: Strategic Hierarchy Page The Hierarchy of Strategies

This chart summarizes the many levels in a business that may be affected by a strategy decision. As you examine this chart, think about how each level of strategy is interrelated to the others. A more complex organizational structure must be strategically managed to be effective and efficient. Any structure must leverage each part's strengths.

1.3.1: Industry Classification System URL North American Industry Classification System (NAICS)

Read the introduction, which explains how industries are categorized in the United States. This system allows governments to measure the overall business activity in each sector of the economy.

URL SIC Division Structure

The SIC Division Structure is a list of categorizations of businesses and industries. Explore the many classifications and think about how strategies might differ among industries.

1.3.2: Porter's Five Forces URL Developing Strategy through External Analysis

Read this section to learn the difference between internal and external forces and how they affect organizations. Attempt the exercises at the end of the section.

Page Porter's Five Forces

Read this article, which explains Porter's five forces to consider in business strategy development. This model has been the classical approach to industry analysis since the late 1970s.

URL The Five Forces of Industry Competitive Advantage

Read this section, which updates Porter's five forces model to account for the effect of technology on strategic management. After you read, complete the exercises at the end of the section.

2.1: Organizational Goals Page Introduction to Advanced Strategic Management

Watch this video by an international professor. At the beginning, the professor defines his course structure, but he then moves on to the topics we're interested in. As he discusses strategic planning skills, which ones do you already possess? Which ones do you want to develop further as you proceed through this course?

URL Developing Mission, Vision, and Values

Read sections 2, 3, 5, 6, and 7 to see how vision and mission statements are created and used in a modern organization. Attempt the exercises at the end of each section.

Page Proclaiming Your Dream: Developing Vision and Mission Statements

Read this example of how to apply and develop vision and mission statements.

Page Strategic Planning and the Final Product

While this video emphasizes strategy development in healthcare, take notes of its key points. Think about the "I CARE" mission statement what goal each letter stands for. Could this mission statement be used in any business? The last 12 minutes covers SWOT, which we will discuss soon.

2.2: SWOT Analysis URL SWOT Analysis

What is SWOT? How is it used in strategic planning? Read this section and do the exercises at the end. SWOT is a basic tool that can be used to analyze an organization's internal and external factors.

Page An Overview of SWOT Analysis

Read this article as an overview to SWOT analysis. A quick web search for a company SWOT analysis, such as Walmart, will lead you to several copyright-protected sites with the table in this article completed for the company you chose. 

File How to Conduct a SWOT Analysis

Read this presentation, which covers how to do a SWOT analysis.

URL Strategic Management in the P-O-L-C Framework

Read this section to see how a SWOT is created and applied. Attempt to answer the exercises at the end of the section.

Page SWOT Analysis: Strengths, Weaknesses, Opportunities, and Threats

Be sure you understand the four quadrants of a SWOT analysis. Examine the supplemental checklist and tools, each of which provide additional context.

2.3: PEST Analysis Page How to Conduct a SWOT Analysis with a Strategic Orientation Round

Watch this video of a live SWOT analysis in an organization. Note the completion of each of the four components.

Page PEST Analysis

A SWOT analysis often is preceded by a PEST Analysis: Political, Economic, Social, Technology. The PEST Analysis model was first introduced in 1967 and has evolved assuming other names. In this course, the PESTEL Analysis (PEST plus Environmental and Legal issues) will be used to examine this macro-level viewpoint analysis tool.

Page PESTEL: A Framework for Considering Challenges

This article introduces the PESTEL model. There are a number of ways to diagram the six categories in the PESTEL Analysis model. Do a quick search to see the variety of template diagrams that have been created.

2.4: Factors of Success Page Making Strategy Effective

This article discusses three factors to consider in order to form an effective strategy. What conditions influence the effectiveness of strategy formation?

3.1: Competitive Advantage URL Niccolò Machiavelli's "The Prince"

This is a classic work about strategy and its usefulness. As you skim this text, think about how the author discusses one's ability to control their own destiny. Compare this to the idea of fate and consider how other cultures may approach that idea in the strategic management process. Lastly, analyze the concept of "the ends justifying the means". How does this relate to your own idea of ethics?

Page Generic Strategies for Competitive Advantage

Watch this video for a quick introduction to developing a strategy for competitive advantage.

Page Competitive Advantage

Read this article.

URL The Value Chain

Read this section. As you read, think about the role of the value chain in strategic management.

3.2: Types of Competitive Advantage URL Towards a Dynamic Theory of Strategy

Read this article, which provides a historical account of using a value chain to develop the organization's sustainable competitive advantage. 

Page Porter's Competitive Strategies

Read this article.

URL Understanding Business-Level Strategy through "Generic Strategies"

Read this section on business-level strategy. Do the exercises at the end of the section.

URL The Delta Model

This presentation presents and explains the Delta Model as a tool for competitive advantage by identifying business competencies in three different areas: system lock-in, total customer solutions, and best product. 

3.3: Total Quality Management URL Business Fundamentals

Read pages 167–171, which discuss how strategic managers can apply a process to sustain a competitive advantage by creating high-quality products and reducing costs.

4.1: Growth Strategies URL Sun Tzu's "The Art of War"

Skim this book about ancient Chinese philosophy and strategy. Pay attention to passages about being victorious over rivals. Consider these general ideas in light of corporate actions like takeovers, price wars, and buyouts.

Page Growth Strategy

Read this article.

URL Growth Strategies for Start-Ups

Read this chapter for an expanded view of growth theories. What areas might affect strategic planning?

4.2: Retrenchment Page Corporate Strategies

Read the section of this article concerning corporate strategies. Not all firms can make a profit, and sometimes they must cut back. Consider the pros and cons of each retrenchment strategy: turnaround, divestment, bankruptcy, and liquidation.

URL Strategies for Getting Smaller

Read this section to reinforce what you learned about retrenchment and restructuring. By the end of this section, you should be able to distinguish between the two strategies and understand why a firm would want to shrink or exit from its business.

4.3: Corporate Strategy Selection Page The GE Approach

Read this article.

5.1: Enterprise Culture Page Globalization and Unemployment

As you watch this video, note the influential activity that shaped the history and development of globalization of business. How does each activity affect strategy?

Page Competitive Advantage and the Value Chain

As you watch these videos, note the application of competitive advantage in the global arena. The second video covers the application of competitive advantage in the global environment. Note the discussion of the value chain.

5.1.1: Socialization Page Defining Organizational Culture

Read this article for an introduction to the role of culture in an organization. As you read, think about how an enterprise culture might change the present norms and behaviors in established organizations. What is organizational culture? Why is it important to business strategy formulation and management?

5.1.2: Managerial Theories Page MacGregor's Theory X and Theory Y

Read this article. How does MacGregor's theory X compare to theory Y?

Page Ouchi's Theory Z

Read this article for an introduction to Ouchi's theory Z. Would you rather work under theory X, Y, or Z? Which strategy would you follow as a manager of a global organization?

5.2: Innovation Page Embracing Disruptive Innovation

Watch this video for an introduction to innovation as a disruption to established corporations. Take notes on some of the innovation examples in the first 30 minutes of the presentation. Which ones have had an important impact on your personal life? Innovation is more than technology!

5.2.1: Sustained Innovation Page Innovation: A Four-Part Recipe for Sustaining an Innovation Pipeline

Read this article. This article assumes you are familiar with agile/lean values from a prior management course. Search these topics to understand this material better. Then, direct your attention to the visual at the end of this resource. Note the division between disruptive and sustainable innovation.

5.2.2: Innovator's Dilemma Page Understanding the Innovator's Dilemma

Read this article. Do you agree or disagree that Apple is an example of an innovator's dilemma?

5.2.3: Research and Development Page The Diffusion of Innovation

Read this article. Technology innovations have been an influence throughout this course, affecting both strategy and strategic planning.

5.3: Global Strategy URL What Is International Trade Theory?

Read this introduction to mercantilism. What is its historical significance to international trade patterns?

URL Advanced Strategy

Read this presentation, which is a review of strategic management topics. Which items were included in this course? 

Course Feedback Survey URL Course Feedback Survey