Corporate Strategy Course Booklet

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Corporate Strategy
Course Booklet

MSc in Management
Semester 2 2011/2012
MSc Core Elective Course

Contents

Page Number

Course Details .......................................................................................................................3 Course Description and Objectives .....................................................................................3 Learning Outcomes ...............................................................................................................4 Planned Student Learning Experiences ..............................................................................4 Teaching Approach ...............................................................................................................4 Please see Study Programme, Lecture Outline and Readings section. ...........................4 Assessment ...........................................................................................................................4 Feedback ................................................................................................................................5 Guidelines for formatting and handing in assessed work:................................................5 Failure to attempt or complete assessed coursework or an examination........................6 Exam arrangements for Disabled students.........................................................................7 Plagiarism Statement ............................................................................................................7 Appeals...................................................................................................................................7 Consultation...........................................................................................................................7 Course Monitoring Surveys...................................................... Error! Bookmark not defined. Required Text(s) ....................................................................................................................8 Course Website .....................................................................................................................8 Course Lecturer.....................................................................................................................9 Study Programme, Lecture Outline and Readings ...........................................................10 Exam Papers ........................................................................................................................10 Appendix 1: Further Reading .............................................................................................11 Appendix 2: Case Assignment Questions.........................................................................23 Appendix 3: Case Studies Guidance …………………………………………………………. 24 Appendix 4: Example of Recent Examination Paper……………………………………...…26

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Course Details
Course Code: Title: College: School: Course Organiser: Contact Hours: Semester: Lectures: Tutorials: CMSE11097 Corporate Strategy Humanities and Social Science Business School Professor Chris Carr 28 2 Mondays 09:00 – 10:50, LT2 Fridays 12:10 – 13:00, Auditorium

This is a 15-credit course. As per the Scottish Credit Qualifications Framework (SCQF), this means that it should entail 150 hours of student effort. For example: Contact hours Preparatory reading Assignments Exam 10 x 2 hour lectures 8 x 1hour tutorials 10 x 4 hours of reading in advance of a lecture Presentation preparation Revision/ preparation for exam case study Exam attendance Total 20 8 40 40 40 2 150 hours of student effort

Course Description and Objectives
Introduction Corporate Strategy is an integrating module; it is concerned with the totality of what a trading business or other organisation is trying to achieve. In other words it assesses a wide variety of environmental and organisational aspects which, when considered overall, help us to understand why some organisations thrive and similar organisations may struggle. These aspects will be relevant whether the organisations are trying to sell clothes world-wide or provide health care in a geographically defined community. The aim of the Corporate Strategy course is to help students examine the corporate strategic possibilities of an enterprise and also to encourage them to integrate what they have learnt from other courses and elective choices. The questions we ask in strategy [whether in an assessment or in real life] may appear simple, but the answers can be very complex. ‘What business are we in?’ is a classic strategy question that examiners ask of students, consultants ask of companies, and boards of directors should ask themselves all the time. There may not be a right answer, and if there is we may not necessarily have that answer. By the end of this course students should be developing insights into the strategy of organisations which will impress not only us as teachers but people running organisations. Course Objectives The overall objectives of our strategy course are therefore: - to integrate the functional courses which form the rest of the MSC programme - to emphasise the generalist nature of management work - to examine the role of top management in setting the direction of enterprise - to examine and to be able to apply techniques of strategic analysis - to be aware of competing arguments behind a number of strategic approaches
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- to gain an understanding of processes of strategy formulation and implementation

Learning Outcomes
By the end of the course students will have learned: • The need for a holistic approach to the analysis of strategy. • Analytical approaches to strategy consistent with this holistic approach to organisations.

Knowledge and Understanding: After completing this course, students should be able to: • Knowledge of strategic planning techniques, and tools for strategic analysis. • An understanding of the application of these techniques in business contexts. • An appreciation of the main drivers of strategic change in an organisation. • Knowledge of approaches to the implementation of strategic change processes. • At the corporate level they will have particular knowledge of diversification, acquisitions, and the management of a group handling a variety of business units. • They will be familiar with many examples of successful and less successful strategies. • They will have extensive knowledge of industry cases, and major types of strategic decisions. Cognitive Skills: After completing this course, students should be able to: • Take a holistic approach to the application of analytical templates and other techniques. • Analyse cases which approximates closely to the rapid analysis of business situations. • Rapidly structure ideas and presentations. • Sift material quickly and efficiently, and to structure it into a coherent argument • Research material related to companies and business contexts under pressure of tight deadlines.

Planned Student Learning Experiences
• • Students will learn from each other in group presentations and in preparing for these. In interactive plenary sessions they will learn from each other and from the teachers input.

Teaching Approach
Please see Study Programme, Lecture Outline and Readings section.

Assessment
Form of Assessment: The course is assessed in two ways: • 20% group presentation • 80% case study examination • • Within the examination the breakdown is: 30% multiple choice questions 70% case study question

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Students will receive a case study about 3 days before the examination. In the formal examination students will be asked one compulsory case based question, preceded by a section based on multiple-choice questions designed to test for knowledge and understanding of the text and strategy theory and literature. Students will not have seen this formal exam paper in advance. A new clean copy of the same case will be provided at the exam. Some examples of examination case questions are shown in Appendix 4. Assessment Criteria: All assessments use the common marking scheme as described the programme handbook. Presentation groups will be assessed on their ability to understand the strategic issues in the cases presented, and in their use of appropriate analytical techniques, and in marshalling the relevant data. The grading of the individual examination is based on a threshold student demonstrating an understanding of the key terms in the area addressed by the examination question and with a first class student being able to demonstrate a critical understanding of their use. They will be graded based on multiple choice questions, testing their knowledge of the text and lectures; and then on their ability to appraise case studies applying concepts, techniques and theory as in the readings and as taught in lectures and case sessions. Dates of Assessment: 1. The group case presentations will take place on the Friday sessions as scheduled 2. The exam will take place during the Semester 2 exam period of 30th April – 25th May 2012

Feedback
Both the verbal case team presentation and the submitted overall report will be assessed. However, no marks are given out or finalised until all presentations have been completed, so that they can all be compared fairly once all presentations have been made (bearing in mind anticipated progression in terms of skills as the course proceeds). Presentation case feedback will therefore be given within four weeks of the final team presentation (26 March 2012): i.e. by 23 April 2012. Please note that feedback is provided solely for educational learning. Any attempt at lobbying for or attempting to negotiate on grades is inequitable in respect to other groups and is strictly forbidden.

Guidelines for formatting and handing in assessed work:
All completed assignments should be stapled and clearly labelled with the student’s Examination Number for individual assignments and all Matriculation Numbers for group work assignments. Names should NOT be written on the assignments themselves, so that they can be marked anonymously. Students are asked to attach an Assignment Submission Sheet as front cover. The student’s name should be written on this sheet along with the examination number for individual assignments and all matriculation numbers for group work assignments. A template for this can be found at www.business-school.ed.ac.uk/mybiz or on WebCT. When the assignments are received the Assignment Submission Sheet will be removed before the assignments are sent to the relevant lecturer(s) for marking. Students must also submit each assignment electronically by TurnItIn which can be located on WebCT. For the group assignment, once the groups have been composed, a group member will be assigned as responsible for this. Please see instructions via the Student Portal. This is to enable checks to be carried out for plagiarism on a random basis, or if suspicions are raised. The University has a standardised penalty for late submission of coursework. The School will apply a uniform penalty of a reduction of 5 marks for each 24 hours beyond the coursework deadline
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(Saturday, Sunday and University Public Holiday not included) unless late submission has been requested in advance of the submission date and approved in writing by the course Organiser. For example: - an essay with a mark of 65% which is less than 24 hours late will be given a final mark of 60% - an essay with a mark of 65% which is between 24-48 hours late will be given a final mark of 55% - an essay with a mark of 65% which is 48-72 hours late will be given a final mark of 50% and so on... The penalty will not be applied if good reasons can be given, such as documented illness. Therefore, if you are given an extension then you must ensure that the PG Office has written proof of this, e.g. in the form of an email from the Course Organiser.

COURSEWORK DEADLINES ARE ABSOLUTE AND MUST BE STRICTLY ADHERED TO OTHERWISE THE STANDARDISED PENALTY WILL BE APPLIED WITHOUT EXCEPTION.
Extensions to coursework deadlines will normally only be granted in cases of illness or other extenuating circumstances. An extension can only be granted by the Course Organiser; requests for an extension to the deadline must be agreed with the Course Organiser prior to the coursework deadline. If this proves impossible, students must attach a letter of explanation to the coursework, signed and dated. If you are given an extension, you must ensure that the PG Office in the Business School (Ground Floor, 29 Buccleuch Place, Edinburgh, EH8 9JS) has written proof of this, e.g. in the form of an email from the Course Organiser.

Failure to attempt or complete assessed coursework or an examination
Where a student fails to attempt or fails to complete assessed coursework or an examination, the Course Organiser will seek to establish from the student whether the failure is legitimate (i.e. supported by appropriate documentary evidence) or not. A failure to attempt assessed coursework or an examination without good reason will result in a zero mark being awarded for that element of assessment. In the case of a legitimate failure to attempt or complete assessed coursework, the Course Organiser may decide to offer an extended submission deadline (without marks deduction for late submission). Where a student is able to produce evidence of legitimate reasons for failure to attempt or complete an examination, and where it has not been possible to offer an extended submission deadline for a legitimate failure to attempt or complete assessed coursework, the Course Organiser will refer the case to the Special Circumstances Committee.

Groupwork Issues and Individual Preparation for Case Sessions
Each case presentation team has to produce a formal presentation (absolute maximum of 12 minutes) in response to one case. Case assignment questions are shown in Appendix 2 and guidance on preparing cases is given in Appendix 3. By the time of the formal presentation the team must also provide a very short, complementary written report (maximum 750 words) to be handed in together with copies of slides (6 per page, is fine so long as still fully readable). This written report need not repeat any slide analysis, and it can be more succinct, but it must fully articulate the logical arguments: slides alone can easily camouflage weakly structured arguments and superficial analysis! The combination should constitute the ‘main story’; a self-sufficient document which could effectively be circulated more widely. Where such group work is involved, should there be any problems with the group dynamic, these should be raised by two concurring members of the team with the course lecturer. Individuals not making formal presentations also need to prepare thoroughly for each case. This can be done on an individual basis and individuals are likely to be asked to respond to case questions in
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the case plenary sessions. The aim is to facilitate and encourage exchange of ideas and experiences by students themselves and to create an atmosphere that is a little more ‘electric’ with well-prepared, professional contributions from everybody.

Exam Arrangements for Disabled Students
If required, specific reasonable adjustments will be made to enable disabled students to sit examinations, including any written, practice or oral examination, continuously assessed coursework or dissertation which counts towards the final assessment. For more information about the support disabled students can receive and the approval process for making reasonable adjustments visit http://www.ed.ac.uk/schools-departments/student-disability-service. Arrangements for degree examinations must be approved in advance by the Registry (650 2214), and the Student Disability Service (650 6828) for dyslexic students, and reported to the examiners. Academic Registry requires notification of specific examination arrangements for dyslexic students well in advance of examination weeks and specific deadlines apply (see http://www.ed.ac.uk/schools-departments/registry/otherinfo/dyslexia). For all other disabled students Academic Registry must see and accept a medical certificate or similar documentation relating to the student or be satisfied that an acceptable certificate will be produced. Such students should discuss their requirements with their Programme Director and/or the Student Disability Service at the earliest opportunity.

Plagiarism Statement
Plagiarism and cheating are offences against the University discipline. The full text of the University’s regulation on plagiarism and cheating can be found on the University’s website at http://www.aaps.ed.ac.uk/regulations/Plagiarism/Intro.htm

Appeals
The process for students appealing against the assessment of grades is described in the Code of Practice for Taught Postgraduate Programmes.

Consultation
Students are encouraged to raise any concerns of a subject specific nature with the relevant course lecturer; more general issues of concern should be directed to the Course Organiser. All but the simplest issues take time to resolve, and so please raise the issues as soon as you are aware of them. In the event of personal circumstances preventing coursework being submitted on time students should contact your Programme Director.

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Course Monitoring Surveys
Because the Postgraduate Taught (PGT) programmes are constantly being streamlined to remain progressive and contemporary, it is essential that you provide feedback on the courses you undertake so that the academic and administrative staff can be aware of your needs and the needs of your peers; the only way we can do this is if you let us know our strengths and what can be improved to make your learning experience with us as relevant and fulfilling as possible. At the conclusion of every semester you will be asked to complete anonymous online Course Monitoring Surveys. You will be notified when the surveys relevant to your programme become live. The results of these surveys will then be collated and distributed to the course lecturer(s) who will in turn provide feedback on the course. All information provided by students and course lecturer(s) will be taken into consideration by decision makers within the Business School – and may alter the way that future courses are administered. We are providing you with an outlet to voice your opinions and it is very important for the current state and the future of the business school and its students that you do so.

Required Text(s)
Grant, R. (2010, 7th Edition). Contemporary Strategy Analysis, Oxford: Blackwell. This is the standard textbook for the Corporate Strategy course. It is succinct, though nice and readable. The text covers the basics systematically and your knowledge of topics covered in Semester 2 will be tested in the examination. There is also a more expensive, Text and Cases version well worth considering as the cases are excellent and worth referring to.

Advised Preparatory Work
Since there is a multiple choice examination section designed to test your knowledge of the course text, it is highly recommended that you read the course text before beginning the course. Reading and preparing cases each week during the course is demanding so it is a major advantage to do this reading over the break before Semester Two begins. Reading and preparing cases takes some time. Secondly, ensure you read any additional assignment readings required before each session.

Course Website
Lecture materials will be made available online via WebCT, which is accessible from the “quick links” area on the top right corner of MyBiz http://www.business-school.ed.ac.uk/mybiz/home On the Course Website you will be able to find a copy of this booklet, course handouts, announcements and other facilities. It is important that you regularly check the WebCT system in order to keep up to date with the course. You should be automatically registered for all your courses; if you are not please consult the PGT Secretary (email [email protected] ) to ensure that your records are in order. A User Guide and full details of how to logon and use the system are available on the Website. N.B. It is vitally important that you check your WebCT mailbox regularly OR set it up so that it forwards messages automatically to your regular e-mail account.

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Course Lecturer
Name: Professor Chris Carr Tel: 0131 650 6307; Email: [email protected] Office: Room 2.15, Business School, 29 Buccleuch Place, Edinburgh, EH8 9JS Biography: Chris Carr MA (Cantab), D.Phil (Warwick), DMS, ACMA, CEng, MIMechE. Professor in Corporate Strategy (Course Organiser) Previously Senior Lecturer in charge of strategy at Manchester Business School, following lectureships at Buckingham, Warwick and Bath universities. Teaching and research experience at overseas universities includes: Brasil (FIA, University of Sao Paulo and Imbec, Rio), Russia (Moscow State University Graduate School of Business and Administration, St. Petersburg University School of Management and the Presidential Academy), China (Zeiiang, South West and Shenzen Universities), India (IIMB, Bangalore), the USA most recently as Visiting Scholar at Harvard Business School, Germany as Professor in International Business at Witten-Herdecke University in Germany, France at HEC, Spain at the University of Carlos III in Spain, Bicoca, Italy and Bilgi in Turkey. He has spent over 30 years researching strategic approaches to globalisation, comparing 369 companies in 21 countries worldwide through extensive field research particularly in the vehicle components industry. Prior to this he worked in industry for over 10 years with British Aerospace and then GKN, Britain’s two largest engineering companies in terms of market value.

Course Secretary
Name: Ashley Harper Tel: 0131 651 3854 Office: Postgraduate Office, Ground Floor, Business School, 29 Buccleuch Place, Edinburgh, EH8 9JS Email: [email protected]

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Study Programme, Lecture Outline and Readings
Lecture Date Mon 09:00 - 10:50 Friday 12:10 - 13:00 Readings from Grant Text* to be read prior to session Chs 1, 2

1

16/1

2 3 4

23/1 30/1 6/2

Concept of Strategy. Generic Strategies & Market Share Effects Resources & Capabilities: Value chain. Case: Ryanair. Networks, Innovation. Industry and Competitor Analysis. Video Games Industry in 2012

Presentation support

Presentation by Ryanair Groups 1&2 Presentation support Presentations by Rivalry in Video Games Groups 3 & 4 Presentation support

Chs 8, 9, 10 Chs 5, 6 Ch 11. Eisenhardt & Sull 2001; Christiansen et al. 2003. Chs 3, 4, 13.

5

13/2

READING WEEK – NO CLASSES 6 7 8 27/2 5/3 12/3 International and Global Strategies Zara: A Cut Apart from the Competition Mergers, Acquisitions and Strategic Alliances DaimlerChrysler Presentation by Zara Groups 5 & 6 Chs 14, 15. Leknes & Carr 2004. Presentation by DaimlerChrysler Groups 7 Presentation by Renault-Nissan Groups 8&9 Exam revision tips Ch 16.

9

19/3

Ch 7, 17 Immelt et al. 2009 Ch 18

10

26/3

The Renault-Nissan Alliance in 2008

*Grant, R. (2010, 7th Edition). Contemporary Strategy Analysis, Oxford: Blackwell. Course text. There is also a more expensive Text and Cases edition, which is fine as an alternative as it simply adds many very good, valuable cases which you might even want to refer to. Please note that most readings relate to the case to be studied in the work listed. Cases are generally supported by lecturers in preceding weeks, so students are encouraged to apply both ideas from lecturers and assigned readings when preparing for case sessions and discussions. For student assignment questions please see Appendix 2.

Exam Papers
All exam papers that are available for students to view can be found on the University of Edinburgh website at http://www.exampapers.lib.ed.ac.uk/

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Appendix 1: Further Reading
The following books may help you to understand the concepts we study and will supplement the lectures and discussions. You should choose from the list those books which address your particular interests. Brief reasons are given why each book is on the list. Two words of warning: these books have generally been written by American or British writers to meet the needs of their own managers and societies, their applicability to other societies is variable. This list of suggested books should be viewed as indicative, and not compulsory. Please remember that all bibliographies reflect the taste and preference of the compiler; this one is no exception. * Useful for additional reading or purchase if it relates to your interests

Other Excellent Texts *Johnson, G., Scholes, K. and Whittington, R. (2011) Exploring Corporate Strategy: Text and Cases, 9th Edn, London: Prentice Hall. This is an excellent text, more comprehensive than Grant on implementation issues and alternative perspectives; but long for a relatively short programme. More Advanced or Specialised Books particularly recommended for further inspection. (which students can use or consult) *Calori, R., Atamer, T. and Nunes, P. (2000) The Dynamics of International Competition: from Practice to Theory. Sage. An interesting research based book from France offering analysis of companies’ perceived strategies for internationalisation. Worth pursuing if you get interested in global strategy. *Christensen, C.M. and Raynor, M.E. (2003) The Innovator’s Solution: Creating and Sustaining Successful Growth. Harvard Business School. Excellent on innovation following Christiansen’s very well received The Innovation Paradox. Some later books though largely recover his older ground. But his most up-to-date book, is Dyer, J., Gregersen, H. and Christensen, C.M. (2011) The Innovator’s DNA: Mastering the Five Skills of Disruptive Innovators, Harvard Business School Press, as below. *Campbell, A. and Park, R. (2005) The Growth Gamble: When Leaders Should Bet on New Business and How to Avoid Expensive Failures. London: Nicholas Brealey. Good on diversification. *Dyer, J., Gregersen, H. and Christensen, C.M. (2011) The Innovator’s DNA: Mastering the Five Skills of Disruptive Innovators, Boston: Harvard Business School Press. *Ghemawat, P. (2011). World 3.0: Global Prosperity and How to Achieve It, Harvard Business School Press. Similar to 2007 book but more up to date. *Gladwell, M. (2000). The Tipping Point: How Little Things Can Make a Big Difference, London: Abacus. His other new book Outliers (2008) has some interesting ideas too, but is less novel. *Hamel, G. and Prahalad, G.K. (1994) Competing for the Future. Harvard Business School Press. An influential book on strategy which is particularly strong on core competencies. Paperback version. *Kroeger, F., Vizjak, A. and Moriary, M. (2008). Beating the Consolidation Game: Nine Strategies Winning in Niches. New York: McGraw Hill. Good. *Laszlo, C. (2008). Sustainable Value: How the World’s Leading Companies are Doing Well by Doing Good, Sheffield: Greenleaf Publications. Interesting for examples of sustainable leadership in a number of top companies.

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*Porter M. (1980). Competitive Strategy: Techniques for Analysing Industries and Competitors. Free Press, is a classic and very good, although the basic ideas are well covered in the recommended text. *Porter, M. (1998) On Competition. A Harvard Business Review Book. A nice collection of his work. *Rugman, A.M. (2005). The Regional Multinationals: MNEs and “Global” Strategic Management. Cambridge University Press. A quick, simple read, though controversial. *Rumelt, R. (2011) Good Strategy. Bad Strategy: the Difference and Why It Matters.. London: Profile Books. A bit off-syllabus, but a valuable critique of a lot of rubbish that is spoken of in the name of strategy! *Slatter, S., Lovett, D. and Barlow, L. (2006). Leading Corporate Turnaround. How Leaders Fix Troubled Companies. Jossey-Bass/John Wiley: San Francisco. Good on turnaround strategies and options here. *Zook, C. (2004) Beyond the Core: Expand Your Market Without Abandoning Your Roots, Harvard Business School. Good on related diversification. Other More Advanced or Specialised Books Ariely, D. (2008), Predictable Irrationality: the Hidden Forces that Shape our Decisions. London: Harper Collins. An interesting psychological take on decision making. Bartlett, C.A. and Beamish, P.W. (2011) (6th Edition). Transnational Management: Text, Cases and Readings in Cross-Border Management. New York: Sage. Behrens, A. (2009). Culture and the Americas. Compares Europe with USA, Brazil and Argentina. Nice summarises literature on cross-country cultural differences more generally. Beinhocker, E.D. (2006). The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics, Boston: Harvard Business School Press. Very different, but mind stretching, panoramic in scope and very interesting. But you’ll probably not have time for this during the course. Berger, S. et. al (2006). How We Compete: What Companies Around the World Are Doing to Make it in Today’s Global Economy. New York: Currency. Very strong on outsourcing and globalisation. Bourne, M. and Bourne, P. (2007). Balanced Scorecard. London: Hodder Education. Quick practioner’s guide. Branine, M. (2011). Managing Across Cultures: Concepts, Policies and Practices. London: Sage. Bryan, L., Fraser, J., Oppenheimer, J. and Rall, W. (1999) Race for the World, Harvard Business School Press. A quick read with some good ideas on global strategy, though most summed up on page 91, so I wouldn’t necessarily purchase unless you get particularly keen on global strategy. Calori, R., Atamer, T. and Nunes, P. (2000) The Dynamics of International Competition: from Practice to Theory. Sage. Carr, C. (1990). Britain’s Competitiveness: the Management of the Vehicle Component Sector. London: Routledge. Carr, C., Bayliss, B. and Tomkins, C. (1994) Strategic Investment Decisions. Avebury Press. A
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research based book – very detailed comparative analysis of strategic investment decision processes in Britain and Germany. Specialised, academic and expensive. Chandler, A.J. (1990). Strategy and Scope: the Dynamics of Industrial Competition. Boston: Harvard University Press Paperback. A classic in the field of business history, organisation structures and diversification. Child, J. and Faulkner, D. & Tallmar, S. (2005, 2nd Edit). Cooperative Strategy: Managing Alliances, Networks and Joint Ventures. Open University Press. Collins, J. (2000) Good to Great, Random House Business Books, London. His previous book Built to Last was a bit like a more up to date In Search of Excellence, and may raise similar issues. Do all these successful companies actually last? But this one is addressed to a pertinent question. How do companies actually move from being mediocre to excelling on performance? Daussauge, P. and B.Garrette (1999) Cooperative Strategy: Competing Successfully through Strategic Alliances, Chichester, Wiley. Dicken, P. (2009) (6th Edit). Global Shift: Mapping the Contours of the World Economy. Sage. This is highly relevant for global strategy. Dixit, A.K. and Nalebuff, B.J. (1991) Thinking Strategically. Norton & Company. Doz, Y. and Kosonen, M. (2008). Fast Strategy: How Strategic Agility will Help You Stay Ahead of the Game, Harlow: Pearson Education. Quite good with nice examples such as Nokia from high tech’ sectors, though maybe a bit uncritical in light of Nokia’s more recent problems. Drucker, P.F. (1989) The New Realities. London: Heinemann Professional Publishing. Evans, D.S. and Schmalensee, R. (2007). Catalyst Code: the Strategies behind the World’s Most Dynamic Companies. Boston. Harvard Business School Press. E.g. covers Google, DoCoMo, Sotherby’s & MySpace. Friedman, T.L. (2006). The World is Flat. London: Penguin. Stimulated debate (over 2m copies) but over-rated. Gabarra, J.J. (1987). The Dynamics of Taking Charge. Boston: Harvard Business School Press. Ghemawat, P. (2007). Global Strategy in a World of Differences, Boston: Harvard Business School Press. Great issues and some good data, though his interpretation is highly open to question. Most of his case studies and a good deal of his data actually point to pro-active global strategies being pretty crucial; his theme though is that we really just need to be ‘semi-global’. Goold, M., Campbell, A. and Alexander, M. (1994) Corporate-level Strategy - Creating Business Value in the Multi-business Company. Chichester: Wiley. How can corporate headquarters can add value to subsidiaries? Galpin, T.J. and Herndon, M. (2007). Mergers and Acquisitions: Process Tools to Support M&A Integration at Every Level. John Wiley/Jossy Bass: San Francisco. Gratton, L. (2007). Hot Spots: Why Some Companies Buzz with Energy and Innovation and Others Don’t. Harlow: FT Prentice Hall. Hamel, G.(2000) Leading the Revolution, Harvard Business School Press. Provocative, though uncritical adulation of New Economy companies like Enron!
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Harvard Business Review (2002) Harvard Business Review on Advances in Strategy, Boston: Harvard Business School Press. Hill, C.W.L. (2011) (8th Edition). International Business: Competing in the Global Market Place. New York: McGraw Hill. Excellent, up-to-date international business text but you’ll probably cover content on IB programmes. Hofstede,G.; Hofstede, G.J. and Minkov, M. (2010) (3rd Edition). Cultures and Organisations: Software of the Mind. Latest version of a classic. House, R. et al. (2005). The Globe Leadership Project. London: Sage. Impressive. Expensive though. Inkpen, A. and Ramaswamy, K. (2006). Global strategy: creating and sustaining competitive advantage across borders. Oxford: Oxford University Press. Jackson, T. (2011). International Business Ethics: A Critical Cross-Cultural Perspective, Cambridge: Cambridge University Press. Very good cross-cultural perspective on business ethics and issues of sustainable leadership worldwide. Johnson, G., Langley, A., Melin, L. and Whittington, R. (2007). Strategy as Practice: Research Directions and Resources. Cambridge University Press. Other perspectives on how strategies are formulated. Kanter, M.R. (1989) When Giants Learn to Dance. Routledge. A description of her view of ‘postentrepreneurial’ corporations. Final 30 pages best overview. Khanna, T. and Palepu, K.G. (2010). Winning in Emerging Markets: A Road Map for Strategy and Execution, Harvard Business School Press. Kim, W.C. and Mauborgne, R. (2005). Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. Boston: Harvard Business School Press. Kotter, J.P. (2008). A Sense of Urgency. Boston: Harvard Business School Press. Pertinent to strategic implementation and leadership. Lees, S. (2003) Global Acquisitions: Strategic Integration and the Human Factor, Basingstoke: Palgrave/Macmillan. Lendrum, A. (2004). The Strategic Partnering Pocketbook: Building Strategic Partnerships and Alliances. Sydney: McGraw Hill. Linch, R. (2010). (6th Edition). Strategic Management. Harlow: Prentice Hall. A good strategy text. Linder, J.C. (2004). Outsourcing for Radical Change: A Bold Approach to Enterprise Management. New York: Amacom. McCraw, T.K. (2000). Creating Modern Capitalism: How Entrepreneurs, Companies, and Countries Triumphed in Three Industrial Revolution, Boston: Harvard University Press. Great business history. Middleton, J. (2006). Gurus on eBusiness. London: Thorogood. Miller, D. and Le Breton-Miller, I. (2005). Managing for the Long Run: Lessons in Competitive Advantage from Great Family Businesses. Boston: Harvard Business School Press.
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Miniter, R. (2002). The Myth of Market Share. Nicholas Brearley. A fast, controversial read. Mintzberg, H. (1994) The Rise and Fall of Strategic Planning. London: Prentice Hall. Worth reading. Mintzberg, H.; Ahstrand, B. and Lampel, J.S. (2009). (2nd Edition) Strategy Safary: Your Complete Guide through the Wilds of Strategic Management. Edinburgh: Pearson Education. Mourdoukoutas, P. (2006) Business Strategies in a Semiglobal Economy. New York: M.E. Sharpe. Nishiguchi, T. (1994) Strategic Industrial Sourcing: the Japanese Advantage, Oxford, Oxford University Press. Excellent on role of subcontractors across Europe, the USA and Japan, including historical trends. Nolan, P., Zhang.J. and Liu, C. (2007). The Global Business Revolution and the Cascade Effect: Palgrave Macmillan. Superb for data on global consolidation taking place in many sectors worldwide, including aerospace, beverages and retail amongst others. Nonaka, I. and Takeuchi, H. (1995) The Knowledge-Creating Company: How Japanese Companies Create the Dynamics of Innovation. Free Press Ohmae, K. The Mind of the Strategist. Harmondsworth: Penguin. Ohmae is one of the few Japanese writers in the field of strategy. He was head of McKinsey’s office in Tokyo. This original approach is still worth reading. Ohmae, K. (1985) Triad power: The coming shape of global competition, New York: Free Press. Ohmae, K. (1990) The borderless world. New York: Harper Business. Ohmae, K. (2001) The invisible continent: four strategic imperatives for the new economy. Nicholas Braeley. Patel, A.B. and Aran, H. (2005). Outsourcing Success: the Management Imperative, Basingstoke: Palgrave Macmillan. Penn, M.J. with Zalesne, E.K. (2007). Micro Trends: Surprising Tales of the Way we Live Today. London: Penguin. Interesting trends. Peng, M. and Meyer, K. (2011). International Business. London: Cengage Learning. Another excellent, up-to-date international business text but you’ll probably cover content on IB programmes. Peters, T. and Waterman, R.(1982) In Search of Excellence. Harper & Row. Influential,still controversial! Porter, M. (1985) Competitive Advantage - Creating and Sustaining Superior Performance. Free Press. Porter, M.E. (1990). Competitive Advantage of Nations. Macmillan Press. Prahalad, C.K. and Y.L. Doz (1987) The Multinational Mission: Balancing Local Demands and Global Vision, Free Press, New York Rappaport, A. (1996). Creating Shareholder Value: The New Standard For Business Performance (New York, John Wiley & Sons, Inc, 1996)

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Rugman, A. (2004). The End of Globalisation. Controversial but stimulating. Schein, E. (2010) (4th Edition). Organisational Culture and Leadership. San Francisco: Jossey-Bass. Segal-Horn, S. and D. Faulkner (2010) Understanding Global Strategy. Cengage, EMEA Shenkar, O. (2010). Copycats: How Smart Companies Use Imitation to Gain a Strategic Edge. Harvard Business Press. An interesting really quick read. Sheth, J. and Sosodia, R. (2002). The Rule of Three: Surviving and Thriving in Competitive Markets, Free Press Simon, H. (1996) Hidden Champions: Lesssons from the World’s Best Unknown Companies, Harvard Business School Press. Simon, H. (2009). Hidden Champions of the Twenty-First Century: The Success Strategies of Unknown World Market Leaders, Springer. Very good, especially on Germany and on smaller companies that have excelled internationally. Sirkin, H.L., Hemerling, J.W. and Bhattacharya, A.K. (2008). Globality. Competing with Everyone fro Everywhere for Everything. London: Headline Business Publishing. Very good value. Stefanowski, R. (2007). Making M&A Deals Happen. New York: McGraw Hill. Stern, C.W. and Deimler, M.S. (2006, Ed). The Boston Consulting Group on Strategy: Classic Concepts and New Perpectives, Chichester: John Wiley. Slightly dated, but a nice amalgam. Sutton, J. (1998). Technology and Market Structure: Theory and History. Cambridge, MA: MIT Press. Taleb. N.N. (2007). The Black Swan: The Impact of the Highly Improbable. London: Penguin. First two chapters an interesting critique of our inability to really forecast future: good on the credit crunch. Tapscott, D. (2009). Grown Up Digital. New York: McGraw Hill. Tomalin, B. and Nicks, M. (2007). The World’s Business Cultures and How to Unlock Them. Thorogood. Trompenaars, F. and Prud’Homme, P. (2004). Managing Change Across Cultures. Chichester: Capstone/Wiley. *Van Agtmael, A. (2008). The Emerging Markets Century. How a New Breed of World-Class Compani is Overtaking the World. London: Simon and Schuster. Good. Van Der Heydjen, (1995) Scenarios: The Art of Strategic Conversation. Wiley Van Der Heydjen et al, (2002) The Sixth Sense: Accelerating Organizational Learning with Scenarios. Wiley Watkins, M. (2003). The First 90 Days. Harvard Business School Press. Wheeler, C., McDonald, F. and Greaves, I. (2003) (Eds) Internationalization: Firm Strategies and Management, Basingstoke: Palgrave / Macmillan. I will refer to chapter 6. Whittington, R. (2001) What is Strategy and Does It Matter? London: Thomson Learning. Stimulating on the process of strategy debates. Brief and succinct.
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Wiebes, E., Baaij, M., Keibek, B. And Witteveen, P. (2007). The Craft of Strategy Formulation: Translating Business Issues into Actionable Strategies. Chichester: Wiley. Womack, J.P, Jones, D.T. and Roos, D. (1990), The Machine that Changed the World, Rawson Associates. Womack, J.P. and Jones, D.T. (2003) Lean Thinking: Banish Waste and Create Wealth in Your Corporation, Free Press / Simon & Schuster, paperback edition. Yip, G. (2001) Total global strategy (latest edition). Prentice Hall. Draws on the extensive academic/research / consultancy work. Succinct and very useful, if rather lacking in empirical data.

Practical Experience of Management Particularly Recommended. **Asakura, A. (2000). Revolutionaries at Sony: the Making of the Sony PlayStation and the Visionaries Who Conquered the World of Video Games, McGraw-Hill. Extremely good read showing inside story of technology innovation and strategic change at one of Japan’s best companies. *Carlzen, J. (1988?). Moments of Truth. Paperback. Excellent (if you can still find it) on service management, turnaround and cultural change processes. *Creaton, S. (2004). Ryanair: How a Small Irish Airline Conquered Europe. London: Aurum Press. *Liker, J.K. (2004). The Toyota Way: 14 Management Principles from the World’s Greatest Manufacturer. New York: McGraw-Hill. An excellent account of the world’s leading car company. See also Extreme Toyota (2008) by other authors. *Lorenz, A. (2009). GKN: the Making of a Business 1759-2009. Wiley. A superb, strategically insightful, 250 year corporate history of a company still highly successful in world markets. This is really is sustained corporate leadership! *MacIntosh, J. (2011). Dethroning the King: The Hostile Takeover of Anheuser-Busch, an American Ico Hoboken, New York: Wiley. If you want an inside account of the end of USA’s national champion brewing and it’s takeover by AmBev, this is a classic recent example. *Magee, D. (2003) Turnaround: How Carlos Ghosn Rescued Nissan. Harper Books.Good. *Morita, A. and Sony. (1986) Made in Japan. Fontana Collins. Lovely paperback if you can still get it. *Welch, J. (2002) Jack: What I’ve Learned Leading a Great Company and a Great People, London: Headline. *Ze, S. and Ng, J. (2008). The Air Asia Story. Malaysia: Kanyin Publications.

Other Practical Experience of Management Bevan, J. (2007). The Rise and Fall of Marks and Spencer…and How it Rose Again, London: Profile. Branson, R. (2006). Screw It. Let’s Do It. London: Virgin Books. Certainly short.

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Burgelman, R.A. (2001). Strategy is Destiny: How Strategy Making Shapes a Company’s Future, Free Press (a study of Intel). Cadbury, D. (2010). Chocolat Wars. From Cadbury to Kraft: 200 Years of Sweet Success and Bit Rivalry. London: Harper Press. Clark, T. (2008). Starbucked: A Double Tall Tale of Caffeine, Commerce & Culture. London: Sceptre. Dauphinais, G.W., Means, G. and Price, C. (2000). Wisdom of the CEO. New York: John Wiley. 29 CEO views on topical strategic issues. Fiorina, C. (2007). Tough Choices: A Memoir. London: Nicholas Braerley. Gallo, C. (2011). The Innovation Secrets of Steve Jobs, McGraw-Hill. Garten, J. (2002) The Mind of the CEO: One to One with the World’s Top Business Leaders, London: Penguin (paperback). A nice, quick read reviewing perspectives of several top firms / CEOs. Gerstner, L.V. (2002) Who Says Elephants Can’t Dance? Inside IBM’s Historic Turnaround, London: Harper Collins (paperback). Very good. Giraud, B. (2009). The Google Way, San Francisco: No Starch Pres. Hamilton-Paterson, J. (2010). Empire of the Clouds: When Britain’s Aircraft Ruled the World. Londo Faber and Faber. History of the aircraft industry and quite inspiring! Jones, E. (1987). A History of GKN. Vol One: Innovation and Enterprise. 19759-1918. Basingstoke: Macmillan. Jones, E. (1990). A History of GKN. Vol Two: The Growth of a Business. 1918-1945. Basingstoke: Macmillan. Jones, G. (2005) Renewing Unilever: Transformation and Tradition. Oxford: Oxford University Press. An excellent, pertinent and up to date business history on a classic multinational. Jones, G. (2010). Beauty Imagined: A History of the Global Beauty Industry. Oxford: Oxford Univers Press. A great history of the beauty industry. Johnson, J. and Orange, M. (2003) The Man Who Tried to Buy the World: Jean-Marie Messier and Vivendi Universal, London: Penguin/Viking. Kelly, D. (2004). Driven: Inside BMW, the Most Admired Car Company in the World, Hoboken: Wiley. Levine, R. (2011). Free Rider: How the Internet is Destroying the Culture Business and How the Culture Business Can Fight Back. London: Bodley Head. McInevny, F. (2007). Panasonic: the Largest Corporate Turnaround in History. New York: Truman Tally Books. McQueen, R. (2010). Blackberry: the Inside Story of Research in Motion. London: Aurum. Osono, E., Shimuzu, N. and Takeuchi, H. (2008). Extreme Toyota: Radical Contradictions That Drive Success at the World’s Best Manufacturer. Hoboken: Wiley. The latest book on Toyota, by a good team with excellent recent access. A bit disappointing in terms of more specific themes: wait for the paperback.
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Ratner, G. (2006). The Rise and Fall…and Rise Again. Chichester: Capstone/John Wiley. The story of Gerald Ratner’s rise and slightly infamous fall of the Ratner’s jewellery chain, now know as Signet. Ruddock, A. (2007). Michael O’Leary: a Life in Full Flight. Dublin: Penguin. Simms, A. (2007). Tescopoly. London: Constable. Steinbok, D. (2001) The Nokia Revolution: the Story of an Extroadinary Company that Transformed an Industry, New York, Amacom. Stenebo, J. (2010). The Truth About Ikea. Gibson Square. Teerlink, R. and Ozley, L. (2000) More Than a Motorcycle: the Leadership Journey at HarleyDavidson. Harvard Business School Press. Vise, D.A. (2005). The Google Story. London: Pan. Vlasic, B. and Stertz, B.A. (2000) Taken for a Ride: How Daimler-Benz Drove Off with Chrysler, William Morrow. Yenne, W. (2007). Guinness: the 250 Year Quest for the Perfect Pint. Chichester: Wiley.

Newspapers/Periodicals The following are particularly relevant and the Financial Times in particular should be a regular read: Business Week; Economist; Harvard Business Review*; Forbes; Fortune; Long Range Planning; Sloan Management Review

Recommended Articles Baden Fuller, C. and Stopford, J. (1991) Globalisation Frustrated: The Case studies of White Goods. Strategic Management Journal, 12: 493-507. Bartlett, C. and Ghoshal, S. (2000) Going Global: Lessons from Late Movers, Harvard Business Review, March Barney, J.B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17 (1), 99-120. Brandenberger, A.M. and Nalebuff, B.J. (1995), The Right Game: Use Game Theory to Shape Strategy. Harvard Business Review, July-August, 57-71. Brockstedt, E. and Carr, C.H. (2005). “Collaborative R&D alliances in the pharmaceutical industry”. Innovation: Management, Policy and Practice, Vol 7, No 3, 2005. Buzzell, R., Gale, B., and Sultan, R. (1975) Market Share –a Key to Profitability, Harvard Business Review, Jan *Campbell, A., M. Goold, and M. Alexander. (1995) The Value of the Parent Company, California Management Review, 38 (1): 79 Campbell, A., Whitehead, J. and Finkelstein, S. (2009). Why good leaders make bad decisions.
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Harvard Business Review, Feb, 87 (2) 60-67. Carr, C.H. (1993) Global, National and Resource Based Strategies. Strategic Management Jrnl, 14: 551-568. Carr, C.H. (1999) Globalisation, strategic alliances, acquisitions and technology transfer, R&D Management, Vol 29, No 4, 405-421. *Carr, C.H. (2005). Are German, Japanese and Anglo-Saxon Strategic Decision Styles Still Divergent in the Context of Globalization? Journal of Management Studies 42 (6), 1155-1188. Carr, C.H. (2006). “Russian strategic investment decision practices compared with those of Great Briton, Germany, the United States and Japan: diversity, convergence and short-termism”, International Studies , Management and Organization. Vol 36, No 3. *Carr, C.H. and Collis, D. (2011) “Should you go global?”, Sloan Management Review, Fall. Carr, C.H., Kolehmainen, K. and Mitchell, F. (2010). “Strategic investment decision making: a contextual approach”, (Co-authors.). Management Accounting Research, 2010, Vol 21, Issue 3, pp.167-184. Carr, C.H. and Bateman, S. (2010). “Does culture count? Comparative performances of top family and non-family firms”, International Journal of Cross-Cultural Management, Vol 10, No 2, pp.241-262. Carr, C.H. and Bateman, S. (2009). “International strategy configurations of the world’s top family firms: another factor affecting performance”, Management International Review, Vol 6, No 6, 2009, 733-758. Carr, C.H. and Garcia, C-E. (2003) Globalisation and strategic choice: how multinational and local perspectives differ: a Spanish case study, European Management Journal, Vol 21, No 6, 671-685. Carr, C.H. and Pudelko, M. (2006) “Convergence of national practices in strategy, finance and HRM between the USA, Japan and Germany”, International Journal of Cross Cultural Management, Vol 6, No 1. Carroll, P.B. and Mui, C. (2008). Seven ways to fail big. Harvard Business Review, September. Collis, D. and Montgomery, C. (1995) Competing on Resources: Strategy in the 1990s, Harvard Business Review, Vol 76, No 3, 1998, 70-83 Dawar, N. and Frost, A. (1999) Competing with Giants. Survival Strategies for Local Companies in Emerging Markets. Harvard Business Review, March, pp119-129. Day, G.S. (1997) Strategies for Surviving a Shakeout, Harvard Business Review (March), 92-102. Eisenhardt, K.M. (1989). Making Fast Strategic Decisions in High-Velocity Environments. Academy of Management Journal, 32, 3, 5430-76. *Eisenhardt, K.M. and Sull, D. (2001) Strategy as Simple Rules, Harvard Business Review, January 107-116. Frei, F.F. (2008) The Four Things a Service Business Must Get Right, Harvard Business Review, 86, 4, 70-80. Fried, V.H. and Oviatt, B.M. (1989). Michael Porter’s Missing Chapter: the Risk of Antitrust Violations,
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The Academy of Management Executive, 3 (1), 49-56. Garnier, J-P. (2008) Rebuilding the R&D Engine in Big Pharma, Harvard Business Review, 86, 5, 6877. Ghemawat, P. (2005). Regional strategies for global leadership. Harvard Business Review, Dec, pp. 99-108. *Ghemawat, P. and Ghardir, F. (2000) The Dubious Logic of Global Megamergers. Harvard Business Review, (July-August), 65-72. *Ghemawat, P. and Ghardir, F. (2006). Global integration is not equal to global concentration. Industrial and Corporate Change, 15 (1) 595-623. Ghosn. C. (2002). Saving the business without losing the company. Harvard Business Review, 80, No 1, 37-45 Goold, M. and Campbell, A. (2002). Parenting in complex structures. Long Range Planning, Vol 35, 219-243. Gottfredson, M., Puryear, R. and Phillips, S. (2005). Strategic sourcing: from periphery to the core. Harvard Business Review, 83 (2) 132-9. *Hagiu, A. and Yoffie, D.B. (2009). “What’s your Google strategy?’, Harvard Business Review, April. *Hamel G. and Prahalad, C. K. (1989), Strategic Intent, Harvard Business Review, May/June: 63-76. Hamel, G., Doz, Y. and Prahalad, C. (1989) Collaborate with Your Competitors and Win. Harvard Business Review, Jan-Feb: 133-139. Hamel, G. and Valikangas, L. (2003). The quest for resilience. Harvard Business Review, Vol 81, No 9: 52-63. Hansen, M.T., Nohria, N. and Tierney, T. (1999). What’s your strategy for managing knowledge? Harvard Business Review, Vol 77, No 2: 106-116 Harris, S. and Carr, C.H. (2008). “National cultural values and the purpose of business” (Co-author S. Harris), International Business Review, 17, 2008:103-117. Hout,T., Porter, M.E and Rudden, K.(1982) “How global companies win out”, HBR Sep-Oct, 98109 *Immelt, J.R., Govindarajan, V. and Trimble, C. (2009). “How GE is disrupting itself’, Harvard Business Review, Vol 82 (10), 56-65. Johnson, G. J. (1999), Managing Strategic Change; The Role of Symbolic Action. British Journal of Management, 1: 183-200. Jones, G. and Khanna, T. (2006). Bringing history (back) into international business research. Journal of International Business Studies, 36, 1-16. Kanter, R.M. (2003). Leadership and the psychology of turnarounds. Harvard Business Review, Vol 81, No 6: 58-67. *Kim, W.C. and Mauborgne, R. (1997). Value innovation: the strategic logic of high growth. Harvard
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Business Review, Vol 75: 103-112 Kim, W.C. and Mauborgne, R. (2009). How strategy shapes structure. Harvard Business Review, September. Kumar, N. (2009). How emerging giants are rewriting the rules of M&A. Harvard Business Review, 87 (5). 115-121. *Leknes, H. and Carr, C.H. (2004) Globalisation, international configurations and strategic implications: the case of retailing, Long Range Planning, Vol 37, 29-49. Levitt, T. (1983). “The globalization of markets”, Harvard Business Review, May-June, 92-102. A highly controversial classic, still being debated. Lindner, J.C. (2004). Transformational outsourcing. Sloan Management Review, 45 (2) 52-8. Lorange, P. and Roos, J. ‘Why some strategic alliances succeed and others fail’. The Journal of Business Strategy, Jan-Feb, pp. 132-135. *Mintzberg, H. (1987) Crafting Strategy. Harvard Business Review, Sep/Oct: 49-55. *Ohmae, K. (1989) The Global Logic of Strategic Alliances. Harvard Business Review, March-April: 143-154. Osegowitsch, T. and Sammartino, A. (2008). Reassessing (home-) regionalisation, Journal of International Business Studies, 39, 184-196. Peng, M.W. and Pleggenkuhle-Miles, E.G. (2009). Current Debates in Global Strategy. International Journal of Management Reviews, 11 (1), pp. 51-68. Porter, M. (1987) From Competitive Advantage to Corporate Strategy, Harvard Business Review, 65, (3) pp 43-59. Porter, M. (1988) What is Strategy? Harvard Business Review. Porter, M.E. (1990) The Competitive Advantage of Nations. Harvard Business Review, March/April (2): 73-93. Porter, M. (2001) Strategy and the Internet, Harvard Business Review, March *Porter, M. (2008). The Five Competitive Forces that Shape Strategy. Harvard Business Review, 86 (1), 78-93. *Prahalad, C. and Hamel, G. (1990) The Core Competence of the Corporation. Harvard Business Review, May/June: 71-91. Rugman, A. and Verbeke, A. (2004). A perspective on regional and global strategies of multinational enterprises, Journal of International Business Studies, 35, 1, 3-18. Rugman, A. and Verbeke, A. (2008). The theory and practice of regional strategy: a response to Osegawitsch and Sammartino, Journal of International Business Studies, 39, 326-332. Ruimin, Z. (2007). Raising Haier, Harvard Business Review, Feb. First Person Interview with Zhang Ruimin, CEO, Hair. Schulz, H. (2010). “An interview with Howard Schulz”, Harvard Business Review, July-August.
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Schwittay, B. and C.Carr (2002) “New strategic groups concepts in the transition to a changing global environment: a dynamic analysis of strategic group behaviour in the world-wide spirits industry” in International Business: Adjusting to New Challenges and Opportunities, Ed. F. McDonald, H.Tuselmann and C.Wheeler, Basingstoke and New York, Palgrave: 221-233. H.Simon (1996) “You don’t have to be a German to be a ‘Hidden Champion’, Business Strategy Review, 7, 2, 1-13. *Takeuchi, H., Osono, E. and Shimitzu, N. (2008) The Contradictions that Drive Toyota’s Success’, Harvard Business Review, 86,6, 96-104. Ul-Haq, R., Howcroft, B. and Carr, C.H. (2010). “Internationalisation Strategies: The Banking and Insurance Sectors”, International Journal of Services Management, 2010 (first published on line 28.9.10). *Watanabe, K. (2007). Lessons from Toyota’s Long Drive. (Interview with Toyota’s CEO). Harvard Business Review. 85, 7/8, 74-83. G.S.Yip, P.M.Loewe, M.Y.Yoshino, “How to take your company to the global market”, California Journal of World Business, 1988,Vol 23, No 4, 37-48 *Yip, G. (1989) Global Strategy in a World of Nations? Sloan Management Review, Fall, 29-40. *Zook, C. and Allen, J. (2003) “Growth outside the core”, Harvard Business Review, Dec, 66-73.

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Appendix 2: Case Assignment Questions
Please come along well prepared. Unless explicitly stated below, we want you to analyse the case in the time frame of that case.

Ryanair 1. Appraise Ryanair’s generic competitive strategy as a low cost airline. 2. Appraise its broad SWOT position including rivalry from other recommendations for the development of their future competitive strategy. Presentation group 1 to respond just to question 1 Presentation group 2 to respond just to question 2

airlines,

making

Video Game Console Industry in 2012 1. Analyse the reasons for Nintendo’s much earlier success in entering this market in the face from rivals such as Atari. 2. Analyse the reasons for Sony’s success in entering this market with Playstations 1 and 2 even in the face of rivals such as Nintendo. 3. Critically appraise Microsoft’s subsequent entry strategy in respect to X-box. 4. Analyse the reasons for Nintendo’s renewed success with respect to the Wii? 5. Which world players will ultimately win out? And why? 6. What should Nintendo do next? Presentation group 3 to respond just to question 2 Presentation group 4 to respond just to question 4

Zara 1. Appraise Zara’s unique business model and the sources of its competitive strategy 2. Appraise Zara’s approach to internationalisation & make recommendations for the development of their future international strategy. Presentation group 5 to respond just to question 1 Presentation group 6 to respond just to question 2

DaimlerChrysler 1. Appraise Daimler’s handling of this M&A. What went wrong and what lessons would you draw from this? Presentation group 7 to respond just to question 1

Renault/Nissan 1. What lessons would you draw from the Renault Nissan strategic alliance. 2. What would be your future prognosis and what would you recommend going forward? Presentation team 8 to lead off in response to question 1. Presentation team 9 to lead off in response to question 2.

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Appendix 3: Case Studies Guidance
In case studies, the individual groups examine together a real life example of a management situation (edited for teaching purposes). Some cases are ‘dated’ but it is felt that the lessons to be learnt justify their use, some are contemporary business challenges. There is not always a “teacher’s answer”. What is crucial is the depth of analysis, an understanding of assumptions made, and the creative quality of the solution that comes from solid analysis and thought. Notes on Case Preparation The following comments may help you in case study preparation:In discussing problems of Corporate Strategy it is useful to have descriptions of real life company situations in addition to readings and lectures on the concepts. This is provided by the case study method. To be comprehensive in giving the reader an appreciation of the environment, the various functions, resources, constraints and opportunities before the management, inevitably the case has to be adequately long. But most of it is about familiar areas to managers and therefore it should make interesting reading. In preparing a case for classroom discussion the following suggestions may be useful. 1. 2. Read the case hurriedly through once to give yourself an idea of the total perspective. Note what Exhibits there are. Read it through again. Read particularly the sections which seem most significant to addressing the questions posed or your own opinions of the important issues. Study the ‘numbers’ often in exhibits carefully; they sometimes tell a different story from the ‘words’. As you go through steps one and two do not hesitate to make extensive notes

3.

Look Out for: 1. 2. Evolution of the corporate strategy of the organisation, including overall objectives and how they relate to stakeholders. Evolution of strategies in particular functions such as marketing, manufacturing, finance, organisation, systems and techniques, and above all the comparative advantage possessed!

In making recommendations for the future as to how the company needs to maintain some parts of its strategy but to change others, you may find it useful to analyse the four following areas: 1. 2. 3. 4. Opportunities in the environment Threats in the environment Strengths of the company Weaknesses of the company

Also look at the abilities, styles, administrative competence of the Chief Executive or the Chief Executives whose regimes are described in the case study. Put yourself firmly in the position of a consultant or a manager in the company and see what realistic insights and recommendations you can come up with in the various functions and overall corporate strategy. Finally see what lessons you can distil from the story of the particular company whose case we are discussing, and relate it to your own experience and that of your colleagues. In the classroom discussions the duties of the ‘teacher’ will be to orchestrate the discussion of group so as to provide the necessary intellectual and emotional environment which encourages class to participate actively in obtaining the objectives of a given session. The degree to which ‘teacher’ takes an active part depends partly on his/her own personality and style and partly on the the the the

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abilities of the class to reach meaningful conclusions without help. In the discussions, it is hoped that unsubstantiated statements will be challenged, points made, group colleagues defended with clearly reasoned, analytical argument. Here the ‘teacher’ may be required to act as arbitrator or as a source of information, and s/he may choose to make notes on the whiteboard of issues raised, solutions proposed. This will assist the class in following the direction in which the discussion is moving and the ‘teacher’ in summarising the principal lessons that can be drawn from a specific case. It is easy for you to ‘opt out’ of case studies either out of shyness or disinterest. The old ‘truism’ about getting out what you put in is particularly apt for case studies. An individual who is by nature rather inarticulate in a general discussion has all the more reason to learn to overcome this feeling before a sympathetic audience of one’s peers. Please note that those who refuse to ‘help’ in the group may not find friends to assist them when their own time comes to be the ‘presenter’. Frustrations of Strategic Case Studies Some people find case studies difficult, even frustrating, because cases draw both on specific techniques of analysis (i.e. accounting ratios) and on structured common-sense. There is no ‘right’ or ‘maestro’ answer. Strategic decisions are not necessarily optimal solutions. Not only is the future uncertain but, also, the internal political situation; the relationships between the key executives is such that certain ideal solutions are unacceptable to some or even all of top management. Strategy then is also the art of the possible, a best fit, an acceptable solution given the circumstances. Reality is not clear cut, black and white but an ever changing, shifting, messy shade of grey. Managers have to learn to work with ambiguity, with emotion laden constraints, with insufficient and/or biased data. Decisions can rarely be taken with the apparent mathematical, scientific precision of the laboratory, or the engineering formula. Strategy and managerial decision making is hedged in by the unpredictability of human players and of the future. This does not mean that solid qualitative analysis, the use of techniques of strategic analysis (such as those ‘templates’ offered by Michael Porter) are not helpful. A healthy scepticism, good lateral thinking and a creative approach are equally required, which means that there is rarely an ideal solution. There are, however, a number of possible choices, the most appropriate of which must be weighed and considered in the light of the known facts, assumptions and circumstance (like the decision maker’s own ability to carry through and implement the choice made). Assumptions must be identified and made explicit so that strategy can be adjusted for changes. Private Reading You will need to be aware of the major topical business issues and events (and the factors which effect business such as economic or political changes), through regular reading of the Financial Times, Economist, etc. Furthermore, you may require to follow up on readings suggested in the reading list.

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APPENDIX 4: EXAMPLE OF RECENT EXAMINATION PAPER
FULL-TIME MSC IN MANAGEMENT DEGREE EXAMINATION

(EXAMINATION TO BE MARKED ANONYMOUSLY) CORPORATE STRATEGY

BOTH SECTIONS to be attempted.

SECTION A carries 30% of the marks. SECTION B carries 70% of the marks. You are advised to complete section A first allowing roughly 30 minutes (2mins / question) before moving on to section B. There are now penalties for wrong answers, so ensure you answer all multiple choice questions.

Instruction to candidates 1. Please find your three-digit number from the list attached and transfer it to the answer sheet by crossing through the relevant numbers in the box provided. 2. Fill in your name, initials, the examination, and date of examination; the name of the examination should be: ‘Strategic Management’. 3. Please mark the appropriate answer by crossing it through with the pencil provided, as shown. 4. There is only one correct answer per question. 5. Ensure you answer all question using the special sheet provided; there are no penalty points for incorrect answers 6. Please note that the examination paper MUST STAY IN THE EXAMINATION HALL. You are not permitted to take the paper out of the hall. 7. If you wish us to be able to check any apparent anomalies in the marking, please write your name on the examination paper, and your three digit number, and circle the correct answers on the paper. SECTION A (Multiple Choice Questions) (30% of Marks). 15 multiple choice questions, based primarily on the text. Actual MC questions not available as we have a limited database, which cannot be cannibalised.

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SECTION B CASE STUDY: ‘AIRASIA: FLYING LOW-COST WITH HIGH HOPES? From ONLY the information contained in the case ‘AirAsia: Flying Low-Cost with High Hopes’, please address the questions below. You are encouraged, however, to draw on lessons or parallels from other pertinent cases you have studied on the Strategic Management Programme or from the related practitioner talks series, as well as from theory and literature. It is not necessary to repeat material from one question to another. Question 1 Critically appraise AirAsia’s generic strategy. How has AirAsia achieved cost leadership or differentiation? (17.5 marks) Question 2 Critically analyse AirAsia’s overall competitive environment? (17.5 marks) Question 3 Evaluate the potential for AirAsia going more international at the end of the case. Should it really go for the long haul market and how far would this suit a fairly pure low-cost strategy, as opposed to one drawing also on differentiation? Discuss AirAsia’s options for dealing with increasingly international markets and competition, and make recommendations. (35% marks)

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