BUS608: Ethical and Strategic Management

Porter's Generic strategies can help your company focus on the strategy you want to pursue. Don't forget that you'll also want to consider the internal and external environment, as we addressed in Unit 2, to ensure the success of your strategy. As you read this article, consider the type of generic strategy used by a company you like to do business with.

After watching this video, you will be able to give examples of Porter's Generic Strategies and discuss the advantages and disadvantages of pursuing each strategy.

After companies select the general strategy, they must choose a specific business-level strategy. This resource gives examples of retailers and their business-level strategies.

The BCG matrix is one tool that you can choose to determine strategy. You may remember this matrix from a marketing class. The matrix allows you to see what products or services are doing well and not doing well in your industry. As you read this resource on the BCG Matrix, consider what products or companies you consider to be "dogs". What makes them appear this way to you, and why? Do you think companies can easily identify their "dogs", or is it possible to be "too close" to a product to identify this?

The balanced scorecard and strategy map approach can be useful tools for determining business strategy. As you read, consider the strategy map used for Mayberry Utilities Company. Do you think this strategy map is missing any potential perspectives? As you read this resource, pay special attention to the corporate strategy map provided in This text. Do you see how you might be able to use a mind map to determine your strategy? This corporate strategy mind map also addresses the internal and external perspectives you learned about in Unit 2.

This section will address diversification and differentiation of products and services as a potential strategy. As you read, consider the downsides of diversification of products. Do you purchase from companies that offer many product lines? No strategy development would be complete without looking at marketing strategy and how the marketing strategy can work within the overall business strategy. This text will help you compare marketing strategy with business strategy. After you read, you should be able to effectively describe the difference between diversification and differentiation in marketing and strategic planning terms.

Determining whether or not to diversify offerings can be a challenge. After you read, you will be able to identify the tests used to determine if you should use a proposed diversification strategy.

One of the most popular organizational structures is the matrix structure. As you watch the video, consider how the functional structure and divisional are combined to create this useful structure to help support organizational strategy.

Companies have several methods to help implement ethics within their organization. In this section, we will talk about a few of those methods. As you read, consider which methods you think to be the most and least effective. Why do you believe this? How can organizations influence ethical conduct? As you read, consider the different steps that you can use to help build ethical conduct into a business strategy.

Codes of ethics are used to ensure ethical conduct occurs within the overall company strategy. After you read, you should be able to draft a code of ethics.

This video further addresses codes of ethics. Do you think a code of ethics is enough for an employee to behave ethically, or do you think companies should do more to ensure employees act ethically?

As you read this case study about flooding in Houston, consider how all stakeholders should be involved in social responsibility decision-making to obtain buy-in. Review the critical thinking questions at the end of the case.

Watch this as you work through the unit and prepare to take the final exam.