Topic Name Description
Course Introduction Page Course Syllabus
Page Course Textbook
Page Course Terms of Use
1.1: Definition Page Tim Blumentritt's "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 your course outline in front of you and note the flow of this course as you watch the video.
Page Business Strategy: "The Art, Science, and Craft of Decision-Making"

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 Kryscynski video you just viewed, especially the summary at 6:30. How do the three legs compare with this book's three main processes of business strategic management?

1.1.1: Strategy Page David Kryscynski's "What is Strategy?"

As you begin watching the videos in this course, recognize that they have been produced by a number of 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/listen to this video, write down your definition for strategy. Pay attention to the role of strategy in achieving organizational goals. This professor has recorded a number of informational lectures on strategy which 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 style that is meaningful to you.

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

1.1.2: Markets Page Larry Reynolds' "Market Structure"

Read the short article and study the diagram. This is a good reference item identifying and defining the four basic market structures. In developing strategy, one needs to first identify in which structure the firm is competing. The remaining videos in this sub-unit will discuss each market structure in more detail.

Page Mr. Sandberg's "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 Mary J. McGlasson's "Perfect Competition"

As you watch this video, pay attention to the use of terms covered in you economics courses. Be sure to pause the video and review any terms that are unfamiliar to you. As you conclude the video, name at least one business or service in your community that is an example of a (near) perfect competition.

Page Mary J. McGlasson's "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 Principles of Marketing: "Chapter 15: 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" section. Identify a business that you utilize that appears to promote a non-profit business goal such as being a "green" organization.

URL Principles of Marketing: "2.3: Developing Organizational Objectives and Formulating Strategies"

Read this section, which serves as an overview of the strategic planning process from a market plan perspective. Consider that 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 Management Mania: "Hierarchy of Strategies"

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

1.3.1: Industry Classification System URL U.S. Census Bureau: "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 U.S. Department of Labor: "SIC Division Structure"

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

1.3.2: Porter's Five Forces URL Principles of Management: "5.6: 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 this reading.

Page Porter's Five Forces

Read this article, which provides and explains a diagram of 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 Information Systems: A Manager's Guide to Harnessing Technology: "2.3: Key Framework: The Five Forces of Industry Competitive Advantage"

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

2.1: Organizational Goals Page University of Ghana: "Advanced Strategic Management: An Introduction"

Watch this video by an international professor. At the beginning, the professor is definining his course structure. The majority of the material is an introduction to this section's content so be prepared to take notes. 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 Principles of Management: "Chapter 4: Developing Mission, Vision, and Values"

Read Sections 2, 3, 5, 6, and 7 for an understanding of how vision and mission statements are created and used in a modern organization. Attempt the exercises at the end of each reading.

Page University of Kansas: "Proclaiming Your Dream: Developing Vision and Mission Statements"

Read this resource for a sample of application developing vision and mission statements.

Page Ben Power's "Strategic Planning and the Final Product"

While this video emphasizes strategy development in healthcare, be sure the key points are in your notes. Think about the "I CARE" mission statement presented in the lecture and what goal each letter stands. Could this mission statement be used in any business? The last 12 minutes covers SWOT which is covered in subsection 2.2 below. 

2.2: SWOT Analysis URL Mastering Strategic Management: "4.5: SWOT Analysis"

What is SWOT? Read the resource for the use of the SWOT concept in strategic planning. Do the exercises at the end of the article. SWOT is a basic tool that can be used to analyze the internal and external factors facing an organization

Page 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 Development Impact and You: "SWOT Analysis"

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

URL Principles of Management, Chapter 5, Section 2: "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 University of Kansas: "SWOT Analysis: Strengths, Weaknesses, Opportunities, and Threats"

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

2.3: PEST Analysis Page International Rice Research Institute: "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 David Kryscynski's "PEST Analysis"

A SWOT analysis (micro-economic factors) often is preceded by a PEST Analysis (or its equivalent): 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 viewpoint analysis tool.

Page PESTEL: A Framework for Considering Challenges

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

2.4: Factors of Success Page Making Strategy Effective

This reading introduces you to 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 read this text, think about how the author discusses one's ability to control his or her own destiny. Compare this to the idea of fate and consider how other cultures may approach this topic 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 David Kryscynski's "Generic Strategies Mini-Lecture"

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

Page Competitive Advantage

Read this article.

URL Mastering Strategic Management: "4.3: 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 Massachusetts Institute of Technology: Michael Porter's "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 Mastering Strategic Management: "5.1: Understanding Business-Level Strategy through 'Generic Strategies'"

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

URL Massachusetts Institute of Technology: Arnoldo Hax's "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 Donald J. McCubbrey's "Business Fundamentals"

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

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

Read this book about ancient Chinese philosophy and strategy. Pay particular 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 Donald J. McCubbrey's "Growth Strategies for Start-Ups"

Read this chapter for an expanded view of growth theories. Identify areas that might impact strategic planning.

4.2: Retrenchment Page Human Resources Planning: "Strategic Management"

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

URL Mastering Strategic Management: "8.4: Strategies for Getting Smaller"

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

4.3: Corporate Strategy Selection Page GE Approach

Read this article.

5.1: Enterprise Culture Page Michael Spence's "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 Jim Hazy's "Competitive Advantage" and "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 within an organization. As you read the concepts, 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 the entire 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 World Economic Forum: "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 Chris Chan's "Innovation: 4 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 and materials in other subunits in this course. Google or web search the topics to better understand this material. Then direct your attention to the visual at the end of this resource. Enlarge the image and note the division for disruptive in contrast to 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 in all of the units in this course, both as impact on strategy and as a tool for strategic planning.

5.3: Global Strategy URL International Business: "2.1: What Is International Trade Theory?"

Read the item for an introduction to Mercantilism. What is its historical significance to international trade patterns?

URL Massachusetts Institute of Technology: Rebecca Henderson's "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