Instructor Manual for f f f
Foundations of f f
Strategy, 1st f f
Canadian Edition, 1e f f f
Robert Grant, Judith f f f
Jordan, Phil Walsh f f f
(All Chapters) f f
f
Chapter 1 f f
f
THE CONCEPT OF STRATEGY
f f f f
INTRODUCTION f
f
Thefmajorfgoalfoffthisffirstfclassfinfstrategyfisftofconveyfanfappreciationfoffwhatfstrategyfis,fbyfintro
ducingfstudentsftofafrangefoffdifferentfperspectivesfandftofsomefoffthefkeyfdebatesfinfthisffieldfoffst
udy.f
f
Thefprincipalfthemesfthatfwefemphasisefare:f
• Thefcontributionfoffstrategyftofthefsuccessfoffindividualsfandforganizations;f
• Theforiginsfandflineagefoffstrategyf–
fthef waysf inf whichf ideasf aboutf ‘strategy’f havef developedf overftime;f
• Keyfquestionsfandfdebatesfinfstrategyfwhichfinclude:f
• Whatfisfstrategy?f
• Howfdofwefdescribefaffirm’sfstrategy?f
• Howfdofwefidentifyfaffirm’sfstrategy?f
• Howfisfstrategyfmade?fDesignfversusfemergencef
• Whatfrolesfdoesfstrategyfperform?f
, • Strategy:finfwhosefinterest?fShareholdersfversusfstakeholdersf
• Strategy:fwhosefinterestsfshouldfbefprioritized?f
• Profitfandfpurpose;f
• Thefdebatefoverfcorporatefsocialfresponsibility;f
• Strategicfmanagementfoffnot-for-profitforganizations.f
f
f
LECTURE/INSTRUCTOR-LED ACTIVITY f f
f
Therefarefafnumberfoffdifferentfwaysfoffintroducingfstrategyfbutfthefmainfaimfisftofgetfstudentsfen
gagedfandfreflectingfcriticallyfonfthefmaterialffromfthefstart.fWefoutlineftwofapproachesfthatfseemf
tofworkfwell.fWhichfonefisfadoptedfdependsftofaflargefextentfonfthefnaturefandfsizefoffthefstudentf
groupfasfwellfasfthefinstructor’sfindividualfpreference.fTheffirstfapproachfisftofstartfthefsessionfbyf
askingfstudentsftofwritefdownfwhatftheyfunderstandfbyftheftermf‘strategy’fi.e.,fhowftheyfinterpretft
heftermfinfeverydayfspeech.fTheyfarefthenfaskedftofworkfinfpairsforfsmallfgroupsfcomparingftheirf
differentfstatements.fThefinstructorfinvitesfselectedfgroupsftofshareftheirfthoughtsfwithfthefwholef
classfandfbuildsfupfaflistfoffkeyftermsfassociatedfwithf‘strategy’.fStudentsftendftofdefinefstrategyfin
ftermsfoffplans,froutesftof achievingfgoals,fcompetitiveftactics,fandf sofon.f Distillingf pointsf offsimilar
ityfandfdifferencefbetweenfdifferentfstudents’fcommonsensefunderstandingsfleadsfnicelyfintofafd
iscussionfoffthefhistoryfoffstrategyfandfthefwayfdifferentfperspectivesfonfstrategyfhavefemergedfo
verftime.fItfalsofhighlightsftheffactfthatftherefisfnofuniversallyfagreedfdefinitionfoffstrategyfandfthatft
hefperspectiveforfdefinitionfthatfyoufadoptfshapesfthefquestionsfyoufaskfandfthefrolefyoufthinkfstr
ategyfplaysfwithinfbusinessforganizations.fThisfactsfasfaflogicalfbridgeftofthefnextfstepfoffthefsessi
onfthatflooksfmorefsystematicallyfatfdifferentfdefinitionsfoffstrategyfandfthefrolefthatfstrategyfplays
f withinf organizations.f
f
Anfalternativefstartingfpointfwhichftendsftofworkfwellfwithflargefgroupsfoffundergraduatesfinfaflectu
refsettingfisftofstartfwithfafdiscussionfoffwhatfstudentsfhadfhopedftofachievefbyfcompletingftheirfstu
dies;fwhenftheyffirstfbeganfattendingfuniversityfwhatfdidftheyfhopeftofspecializefin?fThisfisffollowe
dfbyfafdiscussionfoffanyfchangesfinftheirfareafoffinterestforfspecialization.fPerhapsfafstudentfhadfe
nteredfschoolfwithfgoalfoffbecomingfanfaccountant.f
Copyrightf©f2015fJohnfWileyf&fSonsfCanada,fLtd.fUnauthorizedfcopying,fdistribution,forftransmissionfoffthisfpagefisfprohibited
Then,fafterfaffewfcoursesfinfaccounting,fthefstudentfchangedftheirfgoalftofbecomefaffinancefmajor
.fThefinstructorfcanfthenfleadfafdiscussionfoffstrategyfversusftactics.fInitially,fthef“strategy”,ftheflo
ngftermfgoal,fwasftofgetfafdegreefinfAccounting.fTheftacticsfwereftoftakefafnumberfoffaccountingfc
oursesfeachfyearfleadingftofanfAccountingfdegree.fWhenfthefstudentfchangedftheirfmindftofbeco
mefaffinancefmajor,fthefstrategyfwasfsimilarfwithfregardsftofobtainingfafdegreefbutfinfafdifferentfar
eafoffspecialization.fTheftacticsfchangedfasfafdifferentfsetfoffcoursesfwerefrequiredftofachievefthe
f objective.f Iffafformerf studentftheyfknewf droppedfoutf offschool,fthatfstudentf abandonedf theirf initialf
strategyfinfitsfentiretyftofpursuefotherfoptions.f
f
Thisfleadsftofafdiscussionfoffthefrolefthatfstrategyfplaysfinfsuccessfandfsomefoffthefkeyfcharacteristic
sfoffstrategy.f
f
Having,fhopefully,fcapturedfthefstudent’sfattention,fthefsessionfproceedsfbyfposingfsomeffundamen
talfquestions,finfparticular:f
1. Howfdoesfstrategyfcontributeftofthefsuccessfoffindividualsfandforganizations?f
2. Whatfisfstrategy?f
3. Howfdofwefdescribefaffirm’sfstrategy?f
4. Howfdofwefidentifyfaffirm’sfstrategy?f
5. Whatfrolesfdoesfstrategyfperform?f
6. Strategy:fwhosefinterestsfshouldfbefprioritized?f
7. Thefdebatefoverfcorporatefsocialfresponsibility;f
8. Strategicfmanagementfoffnot-for-profitforganizations.f
f
,1f-f6f Instructor’sfManualfforfFoundationsfoffStrategy,fCanadianfEditionf
f
Itfisfworthwhilefspendingfaflittleftimefonfquestionsf3fandf4fparticularlyfif,fatfaflaterfstagefinfthefcours
e,fstudentsfarefaskedftofundertakefassignmentfworkfthatfrequiresfthemftofgatherfinformationfoffs
electedfcompanies.fManyfstudentsffindfthefnotionfoff‘strategy’fhardftofgetftofgripsfwithfinitially,fsoft
hefmorefconcretefexamplesfthatfcanfbefgivenfatfthefstart,fthefbetter.fConcludingftheffirstfsessionfb
yfconnectingf‘strategy’ftoftopicalfdebatefaboutfshareholderfcapitalismfandfcorporatefsocialfrespo
nsibilityfalertsfstudentsftofthefcurrencyfandfimportancefoffthefsubjectfmatterftofwhichftheyfwillfbefin
troducedfinfsubsequentfsessions.fItfalsofcreatesfthefopportunityfforfthefinstructorftofprovidefafroa
dfmapfforfsubsequentfclassesfandftofexplainfhowfthemesfintroducedfinfthisffirstfsessionfarefsubse
quentlyfpickedfupfandfdevelopedfinfmorefdetail.fAtfthefendfoffthefclassfthefinstructorfmightfaskfstu
dentsftofreflectfonftheirfownfgoalsfandfstrategiesfforfsuccess,fparticularlyfgivenfthefratherfturbulen
tfeconomicfconditionsfmostfeconomiesfhaveffacedfinfrecentfyears.f
f
f
TUTORIAL/STUDENT-LED ACTIVITY f f
f
TeachingfNotesf
f
Atfthefstartfoffthefcoursefitfisfgoodfforfstudentsftofgetftofknowfeachfotherfbyfworkingfinfsmallfgroups.fT
hefinstructorfcanfeitherfassignfindividualsftofgroupsforfallowfthemftofself-
select.fStudentsfdiscussfthefquestionsfwithinftheirfworkfgroupsfandfthenfengagefinfafgeneralfclassfdi
scussion,fwithfgroupsftakingfitfinfturnsftofleadfthefinitialfdiscussion.f
f
TheffollowingfarefafselectionfoffgroupfactivitiesfandfquestionsfthatfcanfbefdiscussedfusingfChapterf1f
PowerfPointfslidesfasfafbasis:f
Copyrightf©f2015fJohnfWileyf&fSonsfCanada,fLtd.fUnauthorizedfcopying,fdistribution,forftransmissionfoffthisfpagefisfprohibitedf
, 1f-f6f Instructor’sfManualfforfFoundationsfoffStrategy,fCanadianfEditionf
PPTfSlidef5f
“WefmustflearnfhowftofbefthefCEOfoffourfownfcareers.”if
•f Successfhasfgoneftofthosefwhofmanagedftheirfcareersfmostfeffectively—
typicallyfbyfcombiningftheffourfstrategicffactors:f
1. goalsfthatfarefsimple,fconsistent,fandflongfterm;f
2. afprofoundfunderstandingfoffthefcompetitivefenvironment;f3.fo
bjectivefappraisalfoffresources;fandf
4.feffectivefimplementation.f
f
Activityf
Infgroupsfoffaboutf4fstudents,fhavefthemfdiscussfwhetherforfnotftheyfthinkfitfisfimportantfforfthemft
ofplanfforftheirffuture,forfsimplyfallowfrandomnessftofchartftheirflife.f
f
Havefstudentsfdiscussfhowftheffourfstrategicffactorsfwillfhelpfthemfplanfforftheirffuture.f
f
Afquestionfyoufmightfaskfisfwhatfconstitutesfsuccess?fIsfsuccessfaboutfprofits,fmarketfshare,fsur
vival,fpersonalffulfilment,forfotherffactors?f
f
f
PPTfSlidef7f
Strategicfdecisionsfsharefthreefcommonfcharacteristics:f
1. Theyfarefimportant.f
2. Theyfinvolvefafsignificantfcommitmentfoffresources.f
3. Theyfarefnotfeasilyfreversible.f
f
Activityf
Havefthefstudentsfapplyfthesefconceptsftoftheirfdecisionftofpursuefafsecondaryfeducation:f
• Theyfarefimportantf–ftheftimefcommitmentfoverfafperiodfoffyears;f
• Theyfinvolvefafsignificantfcommitmentfoffresourcesf–
fthef directfcostf andfthef opportunityf costftof attendfschool;f
• Theyfarefnotfeasilyfreversiblef–fthefconsequencesfoffdroppingfoutfoffschool.f
f
f
PPTfSlidef13f
Howfdofwefidentifyfaffirm’sfstrategy?–fafhierarchyfoffstrategyfstatements.f
• Thefmissionfstatementfisfthefbasicfstatementfofforganizationalfpurpose;fitfaddressesf
“Whyfwefexist.”f
• Afstatementfoffprinciplesforfvaluesfoutlinesf“Whatfwefbelievefinfandfhowfwefwillfbehave.”f
• Thefvisionfstatementfprojectsf“Whatfwefwantftofbe.”f
• Thefstrategyfstatementfarticulatesf“Whatfourfcompetitivefgamefplanfwillfbe.”f
f
Activityf
Aloneforfinfafgroup,fhavefthefstudentsfapplyftheseffourfstrategyfstatementsftoftheirfpersonalfgoal
sf–facademicforflaterfinflife.f
f
f
PPTfSlidef16f
Whatfrolesfdoesfstrategyfperform?f
Thisfslidefisfusefulftofconsolidatefthefconceptfthatfstrategyfisfequallyfusefulftofindividualsfandftofc
orporations,fprovidingfafframeworkftofevaluatefthefcurrentfsituationfasfwellfasfguidefdecisionsfrel
atingftoftheffuture.f
f
f
PPTfSlidef18f
Strategy:finfwhosefinterest?f
Shareholdersfversusfstakeholders?f
f
Activityf
Copyrightf©f2015fJohnfWileyf&fSonsfCanada,fLtd.fUnauthorizedfcopying,fdistribution,forftransmissionfoffthisfpagefisfprohibitedf
