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BASICS of STRATEGY ENGLISH COURSE COURSE ADMINISTRATORS STÉPHANIE DAMERON [email protected]

Teachers Iris Champagne [email protected]

Daniel Haumont [email protected]

1. COURSE DESCRIPTION Designed to give an overall view of the management of a company, the Basics of Strategy course provides students with the following: •

A comprehensive analysis of corporate life: In contrast with the necessarily more specialized viewpoints of other required courses, Strategic Management takes an integrated approach to corporate functions, thereby emphasizing and evaluating their interdependence. The course’s aim is to examine every aspect of corporate life, including its techno---economic and socio--cultural dimensions.

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A specific field: Strategic management is a field that includes the concepts, models and tools that enable a firm’s board of directors and its functional and operational managers to oversee and implement pertinent, coherent changes and adaptations in the firm’s strategy, management system and culture in order to improve its competitiveness, ensure its longevity and enable it to evolve within a complex, ever-changing, uncertain and competitive context.

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A real-life approach: This course is deliberately centered on the firm and those who manage it. Using case studies, this course aims to develop appropriate behaviors for “generalists” and “decision---makers” that are faced with the complex management and strategy problems that firms encounter at every stage of their development.

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Teaching methods suited to the discipline, which combine theory and practice and mobilize a variety of “interactive” pedagogical tools that are based on each student’s active participation in the learning process and communication with other students.

2. COURSE OBJECTIVES The objective for the strategic management course is to provide students with effective frameworks with which they can analyze and evaluate the strategic choices of organizations that are engaged in competition. After completing this course, students should be able to establish a company’s strategic diagnosis, and match environmental constraints and opportunities with a company’s (or an activity’s) strengths and weaknesses. THE STRATEGIC POSITION Module 1 identifies a firm’s strategic stakes and defines the concept of strategy and strategic approach. The different steps in strategic analysis are briefly exposed and will be detailed in later sessions. The analytical approach that is uncovered in this first module provides a framework for managerial reflection; however, the methods that are actually used may vary, depending on arising opportunities and situational complexity. Strategic planning, control processes and corporate governance issues make up the majority of this module. Modules 2 and 3 use an analytical approach to introduce the concept of strategic diagnosis. Module 2 covers environmental analysis, the main objective of which is to understand the industry in which the firm operates, as well as its characteristics, segmentation, dynamics, specific stakes and actors, tools, and means for appropriating effective strategic intelligence.

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The concepts of Key Success Factors and SWOT analysis conclude Module 2 and introduce the concept of internal diagnosis, which is the main topic for Module 4. Internal diagnosis may apply to either a specific activity (“business diagnosis”) or to the company as a whole (“corporate diagnosis”). Notions covered in this module include Resources and Competences, threshold and fundamental capacities, value chain, functions, processes and strategic platforms. Comparative approaches, such as benchmarking, are also explained.

STRATEGIC CHOICES Once the strategic position has been established, choices must be made (either at the business or corporate level) and subsequently implemented. The advantages and limitations of these various strategies are reviewed along with market reactions and success criteria. In regards to the company, we deal with corporate strategies in Module 4. This module also details how to optimize a firm’s business portfolio, how to engage in arbitration and allocation of resources among different strategic business units (SBU), how to use analytical tools from a business portfolio (B.C.G., A.D. Little or McKinsey) and how to define the appropriate strategy for each SBU. Module 5 presents business strategies. These generic strategies are reviewed and analyzed i n relation to concepts such as break-even point, price-value ratio, time control (hyper-competition), life cycle, and internal and external competences. Module 6 introduces the various development strategies, namely the “ make-or-buy” decision, and presents internal and external growth options, mergers-acquisitions, as well as structures and processes of cooperative management, “co-coopetition”, alliances etc.

STRATEGY INTO ACTION: ORGANIZING & MANAGING PEOPLE AND CHANGE The former strategies must be put into action, but how can one implement such strategies and change into complex organizational structures? These structures combine limited human and financial resources, information sharing and specific technologies. Furthermore, these structures can also evolve and transform alongside of strategic options. Module 7 deals with the relationship between strategies and organizational structures. This module presents the different types of structures, their advantages and their limitations, and alludes to the notion of organizational borders along with the autonomy/control arbitrage. Module 8 deals with company governance. What is the place of a strategic decision? What roles do strategic decision makers play? What are the practices that practitioners of strategy undertake in the processes of decision-making and implementation? Finally, Module 9 discusses internal and external resistance to change, the human and cultural dimensions that can be employed to deal with changes to a firm’s corporate culture, as well as organizational learning and change management techniques.

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3. METHODOLOGY The Basics of Strategy course, which is comprised of a total of 36 hours of class time, uses the 3 following pedagogical methods:

CONCEPTUAL

MODULES

These (lectures and discussion groups) are designed to p r e s e n t t h e n e c e ssa r y f a c t u a l information as well as the concepts and tools of Basics of Strategy class. Preparation includes obligatory reading of assigned texts (chapters from the textbook) to encourage studentteacher interaction in the classroom. Further readings (articles and/or books) may be recommended or required for certain class periods. The reading of the reference book may be subject to evaluation by the lecturer.

MINI CASES Mini cases bring concrete and recent illustrations of strategic choices and enable a deep analysis of concepts and strategic tools. Students much read these before each session in order to be able to actively participate in class discussions.

WORKSHOPS (CF. APPENDIX 2) Case studies are used in conjunction with strategic management “workshops” (cf. Appendix 2). The aim of these workshops is to scan the business environment, as well as to investigate and evaluate strategic management as practiced by a firm (selected by the student in consultation with the professor). This company should present a particular issue in terms of management or strategy.

THE CASE METHOD (CF. APPENDIX 1) This method allows students to use concepts and tools in so l v i n g c o n c r e t e st r a t e g i c management problems that firms encounter in real---life situations. The case study method is designed to develop students’ skills in the areas of analysis and strategic decision---making and to cultivate behavior suitable for open debate. While students should prepare each integrative case study, at least one must be handed in (3 typed pages must be uploaded to the professor no later than the Thursday preceding the integrative case study’s session)

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4. SCHEDULE FOR THE SEMESTER Reference book:

G. Johnson, K. Scholes, R. Whittington, Exploring Corporate Strategy Prentice Hall, 10th edition, 2014

Week

Cours TD

Compulsory reading

14 janvier

Course presentation Module 1: Introducing strategy

Chapter 1 & section 4.2

2

21 janvier

Module 2: Strategic segmentation, environment prospective analysis – choice of the firm -

Section 6.2& Chapter 2

3

28 janvier

Module 3: Strategic capabilities and competitive advantage

4

4 février

Integrative case study

5

11 février

6

18 février

7

25 février

Module 4: Corporate level strategies Workshop 1: Strategic capabilities and competitive advantage Module 5 : Business-level strategies Workshop 2: Strategic capabilities and competitive advantage Module 6: Modalities of development Workshop 3: Corporate-level strategy

8

11 mars

Integrative case study

9

18 mars

Module 6: Strategy and organization Workshop 4: Modes of development

Chapter 13

10

25 mars

Module 7: Governance & practice of strategy Workshop 5: Organizing & strategy

Chapter 15 & sections 4.3 to 4.5

11

1er avril

Module 8: Strategy and change management Workshop 6: Governance & strategy

Chapter 14

12

8 avril

Dyson Case Chapter 7

Chapter 6 Chapter 10 & Chapter 11 FT Case

PART III IMPLEMENTATIO N

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Chapter 3

PART II STRATEGIC CHOICES

April 19

PART I STRATEGIC DIAGNOSIS

1

Agenda

Conclusion Essay delivery

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5. EVALUATION EVALUATION OF CLASSROOM AND CASE STUDY PARTICIPATION: 20% Each week’s session, be it a case or a conceptual module, should be rigorously prepared by the student (2 or 3 hours of individual work prior to each classroom session). Notes should be prepared in advance and brought to class. These notes will be the basis of your class participation, including any remarks that you may make and responses to questions asked by the professor. As such, your notes will not be graded, but your participation will based on them will be. One of the three integrative case studies must be delivered on Thursday that proceeds that case’s session. This document must not exceed 3 pages (margins 2,5cm, Times New Roman font, size 11, single spaced). This document will be graded and accounts for 20% of the student’s overall participation. Your participation in class will be evaluated as well, on a scale from 0 to 20. This grade accounts for 60% of the general participation evaluation. Students that attend class regularly but that do not actively participate will not be able to obtain a note exceeding 7/20. Students that are repeatedly absent will receive a zero in participation!

WORKSHOP (SEE APPENDIX 2): 30% The workshop will be evaluated on the basis of: -

A written report, which should turned in physically AND via email. This report must be turned in no later than the day of your last session.

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An oral presentation about a strategic issue that the company faces, which should be presented using a PowerPoint presentation (you must send this presentation to the professor). This oral presentation is an exercise of communication. The slides exist only to support your oral speech (the details must be in the “comment” part of the slide and not shown.

NB: Team members may receive different grades if individual contributions are unequal. All written reports will be uploaded through an anti---plagiarism application.

EXAM: EVALUATION OF OVERALL KNOWLEDGE IN STRATEGIC MANAGEMENT: 50% L3: The exam covering the basic reference book, class lectures and cases studied during the semester will be in the form of a case study, which will require students to employ the concepts, tools and methodologies studied in class. Final examination board (Jury): Exam copies are corrected anonymously and grades will posted outside of the secretary’s office. If a mark is contested prior to the date of the “Jury”, a second examiner will mark the paper, and the final mark will be the average of the two grades (which may result in a lower overall grade). SECOND SESSION EXAM (WHEN REQUIRED) If the student does not get 10/20 at the end of the semester, he/she will have to take a second exam. This exam will be based on a dissertation that deals with a strategic issue.

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RECOMMENDATIONS Strategic Management, whose aim is to present a synthesis of the management field, is particularly demanding. It assumes active participation on your behalf, which requires c o n s i d e r a b l e preparation for each session, as well as active, pertinent contributions in the classroom.

CLASSROOM PARTICIPATION The instructor’s role is to guide your work, to give necessary explanations, to lead classr oom sessions and, of course, to evaluate the quality of your work. Your preparation for each class (approximately 3 hours) will include: - Studying the relevant chapter from the textbook, whose structure corresponds to the course’s structure. - Reading related documents (books, articles) as assigned by the professor. - Analyzing cases and writing up a short summary of your analyses. This summary should be used as the basis of your classroom discussion. - Strategic diagnosis. - Strategic options and recommendations. Classroom participation will include: - Remarks, questions and other contributions made by the student. - Answers to questions formulated by the professor. - Scheduled pr e sent ati ons. NB: Your presence in class is mandatory (any absence must be justified) but does not guarantee a high grade, as your contributions to class discussion will be evaluated. You are thus urged to take the initiative to participate in classroom discussions. Your remarks in class concerning the case studies should be brief, precise and designed to shed new light on the issue or to promote further arguments, so as to help move the discussion towards a fuller understanding of the problem and to produce pertinent recommendations.

ORAL PRESENTATION Oral presentations should not exceed the time allotted (15 minutes). They should be presented directly to your fellow students who will not necessarily be familiar with the subject matter. Presentations should include visual aids (PowerPoint). When presenting, students should not be reading pre-written notes. Such supporting material (PowerPoint) should be handed in to your professor, whose task it is to evaluate your capacity to communicate the results of your research to others.

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AUTHORS’ RIGHTS RESPECT The workshop requires literature research, and consequently will require students to cite work that has been done by other authors. As instances of plagiarism are increasing, this section is aimed at providing you with recommendations for respecting authors’ rights. All references should be accurately cited (books, articles, internet pages, etc.) If you take an idea from a book, article, web site, journal article, or review article, you must mention the source, for example: (Josserand, 2002, p.38). At the end of your work, you must provide a bibliography where the references are organized in alphabetical order, e.g. JOSSERAND E. (2002), L’entreprise en réseau, Seuil Editions. If you use a website, you must cite it immediately following the information that you are using from it (example: www.dauphine.fr) If you quote (copy) a whole part of a book, article, web site, you must cite in using quotation marks, and the source should be cited as previously explained. You workshop dissertation will be run through an anti---plagiarism application, and failure to respect authors’ rights will be met by disciplinary action.

MAKE-UP SESSIONS Sessions that do not take place on their scheduled date due to the professor’s inability to attend or a bank holiday will be rescheduled for a Saturday morning, any other date decided by the teacher, or during the 13th week of the semester, i.e. the week before exams.

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APPENDIX I: THE CASE METHOD One aim of the case method is to encourage discussion through active and constructive student participation, which is oriented towards solving corporate problems and, more specifically, towards producing pertinent and coherent recommendations for those directing the firm. The first and imperative requirement for achieving this goal clearly resides in all students reading and analyzing each case before class discussion time. This will result in carefully prepared notes, which will serve to support comments made during class---time. Questions associated with a particular case will individualize this general approach and structure the class discussion. At each stage, a student will be asked by the professor to open up the discussion to other designated students and/or volunteers. These contributions will be evaluated (continuous assessment) for your participation grade. The discussion of a case must never elicit a presentation of a topic previously assigned to one or more other students. NB: All students should prepare each case and be ready to participate in the discussion. At the end of each session, the professor will conclude with a brief synthesis emphasizing the key points of the analysis, the methodological elements appropriate to a fuller understanding of the case, and other possible general conclusions. Nevertheless, do not expect the professor to give you “the” answer to each case, as this would be a contradiction to the spirit of the case method (which should not be confused with a mathematical exercise!).

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USEFUL ELEMENTS FOR ANY CASE STDUY

STAGE Problematization

DEFINITION Raising a strategic problem that the company has to face

A DVICE Consider a current situation; past situations are often hard to analyze and recommendations may have been made for the current situation that you are already familiar with. Demonstrate that the company faces problems and that it must deal with situations of uncertainty. The case study’s aim is not to describe an empirical situation (workshops) or to repeat what is written in the case (integrative case study). Your analysis should be specifically guided by the problem that you have raised; two groups or two individuals should not analyze the case the same way.

STAGE Recommendations

DEFINITION Proposing one or more solution to help the company to go ahead the strategic problem it faces.

A DVICE It is often more interesting to propose a limited number of recommendations and to argue why each of them should be considered. The listing o f u n d e v e l o p ed r e c o m m e n d a t i o n s should be avoided. It is important to ground your recommendations in the criteria of feasibility, relevance & acceptability. Financial elements should also be systematically considered. The originality of your recommendations is important. Good strategists analyze situations and then propose solutions that are often different from what other people propose: this is why they are successful. Do not hesitate to propose original yet relevant recommendations.

Strategi...