Giordano Strategy Essay Example

However, these functional managers may face pressure for suboptimization, and therefore, they should also comprehend the viewpoint of the general manager. Course Content The key theme in this course is strategy. Our exploration of strategy will begin at the business level, where we explore the difficulties faced by a firm operating in a single industry.

This research will critically examine the elements of strategy and their differentiation across different scenarios and environments. In the context of most medium and large-sized businesses, there is a significant difference between corporate strategy and business strategy due to the multitude of businesses they encompass. We aim to delve into the distinctions between corporate and business-level (or divisional-level) strategies, as well as, the demands they impose on managers at various tiers in the firm. The emphasis will be put on the role of competitive strategy considerations at each strategic level.

Effective general managers possess notable expertise in discerning and examining problems, and they also have a strong propensity for action. This course aims to facilitate the development of these skills by creating an environment conducive for such, while simultaneously offering a conceptual comprehension of a strategic manager's role. Strategic management is not limited to analysis only. Undoubtedly, strategic analysis significantly features in this course as we delve into the exploration and application of various analytical methods to position a company or business unit within competitive landscapes. However, the intricacies of strategic analyses come from the unavoidable compromises implicit in every situation.

The presence of compromises indicates that organizations are made up of numerous individuals with divergent and conflicting goals. Dealing with these compromises necessitates that general managers tackle the subjective matters connected to

defining organizational goals and harmonizing financial and non-financial objectives. As much as feasible in every class, we will strive to equalize these compromises and examine our concepts regarding the proper interconnections among them. In conclusion, strategic management necessitates progressing beyond analyzing and compromises towards strategic initiatives.

After addressing the analytical dilemma of choosing a corporate or business strategy, it becomes clear what path must be taken. It's crucial to understand how to carry out the selected strategy effectively for achieving success. As much as circumstances allow, we will explore different amalgamations of systems (such as information, control, reward, etc.), organizational frameworks, and the individuals needed to put a certain strategy into action. Throughout the course, we will assess our theories about the connection between strategy and these other components.

The agenda for this course is laid out explicitly in a latter section of this document. Our routine will consist of discussing one case for two back-to-back class meetings. It is expected of you to come prepared for every class session. Initially, we'll delve into companies running a single business or having a dominant one and gradually shift towards exploring companies operating multiple businesses. Likewise, we'll use simple analysis strategies and eventually evolve and adapt them to work in a variety of contexts. We'll explore several economic sectors such as basic industries, consumer-based products, service-oriented businesses, and hybrid organizations.

Throughout the progression of this course, the topics approached and instances discussed will sequentially 'construct' on one another. This method ensures that the abilities and understanding obtained from examining one lesson can be applied to others that follow. Our focus on both analysis and execution will remain consistent throughout

this course. One book has been designated as required reading for this course. Additionally, articles are frequently used to bolster the conceptual understanding needed for each class session. Porter's Competitive Strategy acts as a guiding framework for analyzing the influence of industry selection and composition on strategic decision-making.

A thorough understanding of how companies undergo changes due to elements such as competition, technological advancements, government intervention, and other significant contextual factors, is crucial for addressing strategy development. This comprehension demands profound knowledge of functional strategies that are connected to marketing, operations, finance, and human resources. As such, in many instances, your previous learning from other courses will be applicable. Our goal in this course will be to amalgamate these functional strategies into comprehensive business, corporate, and division-level strategies and put a significant emphasis on the execution of these selected strategies.