BUS 497a: Capstone: Strategic Management Course Introduction Wayne Smith, Ph.D. Department of Management CSU Northridge Updated: Sunday, October 13, 2019
Introduction Course Logistics Course materials (frontload)
Academic Focus Your Company’s Goal Your Professional Goal What must managers do, and do well, to help a firm survive and flourish in the marketplace. Your Professional Goal Earn a place at the strategic table at a firm. Key Assumptions All prior courses, including GE Ethics Teamwork Writing/Presenting/Persuading Blends Long-term and Short-term External to the firm and internal to the firm High-level and Low-level Concern for tasks (goals) and concern for people (relationships)
Academic Focus (cont.) Bests Best in communication In every time; in every place; in every context; In assumptions; In interpretations Best in technical analysis Quantitative and qualitative Best in observation External (telescope) – Astronomy, Economics Internal (microscope)– Biology, Anthropology Quantitative Research (e.g., FIN 303 and SOM 306) Descriptive Statistics/Visualization, Inferential Statistics, Hypothesis Testing (explanation), Linear Regression (prediction), Return-on-Investment, Cash Flow, Industry Comparables, Portfolio Optimization Qualitative Research (e.g., from MGT 360 and MKT 304) In-depth Interview, Oral History, Focus Group, Ethnography, Content Analysis, Case Study
Personal Competencies for Managerial Success All competencies are important, but a few competencies characterize the key differences between professionals and managers. These are relatively indifferent to country, economy, industry, firm, salary, rank, seniority, etc. Ethics and Values; Integrity and Trust; Compassion; Managing Diversity; Successful managers know that trust is the true organizational currency. Action Oriented; Command Skills; Managerial Courage; Standing Alone; Successful managers shrewdly demonstrate a bias towards action. Interpersonal Savvy; Organizational Agility; Political Savvy; Creativity; Successful managers have behavioral flexibility to adapt to reach any goal. Developing Relationships with Bosses, Direct Reports, and Peers; Successful managers are constantly cultivating and nurturing relationships. Managing Through Systems; Personal Learning; Successful managers are the best at self-initiated learning, and the best at visualizing invisible structures in entire organizational ecosystems. Tolerance for Ambiguity; Dealing With Paradox; Conflict Management; Successful managers thrive in environments of uncertainty. e.g, Non-routine decision-making; unclear goals, tasks, and outcomes; role conflict This last one—tolerance for ambiguity—that is the most important for strategic success
Some Examples Macro-level (Business-level) Meso-level (Product-level) Calatayud, A. (May 24, 2018) Betting Companies Power Up After Ruling. Wall Street Journal. Meso-level (Product-level) Calatayud, A. (March 31, 2017) Fresh Beef to McDonalds—Trying to Turn around its U.S. Business, chain ditches frozen patties for Quarter Pounders. Wall Street Journal. Micro-level (Process-level) Geron, T. (May 28, 2018) One Remedy for High Health Costs: Blockchain. Wall Street Journal.