BUS 496: Business Policy and Strategy Course Syllabus

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BUS 496: Business Policy and Strategy Course Syllabus

Contact Information: Instructor Name: Matthias Bollmus, Ph.D. Phone Number: (262) 951-3025 Email Address: [email protected] Office Location: Business Hall, Room 207 Office Hours: MON 14:00 – 16:00 TUE 13:00 – 14:00 THU 13:00 – 14:00 Note: I use what you might call military time throughout the syllabus and this course. I

am from Europe, so I call it time. Pre-requisites: Per catalog, Format: f2f (Face-to-Face) Text: Understanding Business Strategy Concepts Plus Third Edition Ireland, Hoskisson, Hitt South-Western Cengage Learning Req. web resources: CengageNOW (access code comes with the book) Interactive Simulation "Airline", to be purchased after first day of class, more info to come. Course description: Business policy deals with the development of strategy formulation and implementation. As such we will focus on the interdisciplinary nature of strategy formulation, implementation, and evaluation. We will specifically focus on examining strategic issues from multiple perspectives, mirroring the many functional departments housed within an organization, as well as the many external viewpoints that influence a firm’s strategy (such as ethics, management, marketing, labor, developing countries, governmental relations, competition and intellectual property, etc.)

In order to appropriately formulate a business strategy, most businesses must also consider international opportunities and competition. Therefore, this course will also examine the complexities of corporate operations in different cultures.

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The instructor and Carroll University reserve the right to modify, amend, or change the syllabus (course requirements, grading policy, etc.) as the curriculum or program require(s).

This sounds complicated….so why are you taking this course? Upon completion of this course students should feel exceptionally well prepared for a successful. Everything we do in this course is geared towards this goal. If you do not understand how a certain assignment or requirement contributes towards this goal, please ask me. I understand that I ask you, on some level, to trust me, but I hope that my professional and academic background and track record will make it easier for you to do so. Learning Objectives: The following learning outcomes were articulated based on the overall goal of the course. Upon completion of this course, students should be able to:

1. Recognize and identify issues that warrant an individual and/or organizational response 2. Formulate and execute business policies and strategies within a complex environment 3. Analyze and assess the impact of strategic actions on applicable stakeholders. 4. Forecast future events based on strategic action or inaction. 5. Strategically collaborate within dynamic, competitive environments 6. Develop and apply an appropriate degree of emotional intelligence (EI)

I will assess your progress towards these learning objectives through class participation, homework assignments, case studies, and our on-line simulation. Student Expectations of Faculty: As a student this is what you can expect from me:

• I promise to grade students fairly and treat you with respect and empathy. • I promise to be energetic and open to all student comments. • I will always be prepared for class. • I will use multiple teaching methods in class including but not limited to lecture, student

discussion, PPT, and any other method deemed appropriate to enhance the learning experience. • I promise to coach and mentor you as much as possible in order for you to reach your learning

potential…without doing the work for you. • I will return emails within 24 hours except on weekends.

If you need assistance or have concerns or problems, see me as soon as possible. Do not wait until your grade is negatively impacted.

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Discussion of Current News (LO 1, 3, 4, 6): There is a lot of information “out there”, and successful individuals possess the ability to scan their environment, separate relevant from irrelevant information, and then prioritize the remaining data set. Following relevant business news will help you, the student, practice prioritizing data. In addition it will help you, the student, to summarize complex issues, present them in front of others and answer questions. Additionally, the ability to recognize and identify relevant news might help the individual (and thus the organization) forecast strategic responses and possible impacts on stakeholders. Students are required to follow relevant business news and prepare those for discussion in the class room. We will start every class session with a brief review of relevant business news. You should scan the business headlines daily and come prepared to class, ready to contribute with a story. Always ask yourself:

o How does this headline affect us? o Why should we care? o What should we do to cope with this news (meaning, what could be a strategic response)?

Each student is required to submit a short report about the article. The areport cannot be longer than 200 words and must provide answers to the three questions above.

Please bring 2 printouts of the news report (+ article) to class, make sure your name is on it, and hand one in to me. You might need the other for your presentation. Specific attention should be paid to answering questions related to the 6 Learning Objectives when discussing the article and asking / answering questions. You can follow me on Twitter @Carrollu_mb; I will send out ideas for news stories on a very regular basis. Homework (LO 1, 2, 4):

• Exercises for selected chapters are assigned on-line. Due dates are indicated on the web site. • We will flip the classroom in regards to the homework assignments. All chapter assignments are

due before class. • Homework is designed to help you understand chapter concepts so that you can apply those to the

case studies, exams and in-class discussion. • No late homework will be accepted; failure to complete an assignment on-time will result in an

automatic 0% for that assignment. • Your final homework grade will be an average of the individual homework assignments.

Participation / Professionalism (LO 1, 2, 3, 4, 5, 6)

• Participation is an integral part of this course. Practicing on how to make substantive contributions to the discussions is a skill that I believe will help you excel in your career; I am speaking from personal experience when I say that this skill could make or break your career.

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• As mentioned above, we will start every class session with a brief review of relevant business news. You should scan the business headlines daily and come prepared to class, ready to contribute with a story and/or participate in the discussion of someone else’s’ news story.

• My expectation of each and every one of you is to come to class with questions about the week’s readings (and when appropriate the cases). When you are not presenting a case, I am expecting that you listen carefully to the other groups’ presentations and provide constructive feedback. Your participation during other groups’ presentations will factor into your participation grade.

• Having said all of that, please note that quantity ≠ quality. Simply saying a lot does not mean that you are making substantive contributing to the discussions.

• I will assign a participation grade after each class session. That grade will be available to you within 24 hours on our course web site.

• Please clearly note that it is YOUR job to make sure that I notice you and your contributions. It is not my job to read your mind.

• Professionalism will be assessed on at least two levels: appearance and behavior. Appearance refers to the way you carry yourself, which includes dress code (see below for clarification) as well as your overall demeanor in class. I strongly suggest that you think of this class as an opportunity to practice how to visually appear professional. Behavior is closely related to Learning Objective #8 (emotional intelligence and maturity) and refers to the way you interact with everyone else in this course. It should not come as a surprise to you that what you say is as important as how you say it. Be respectful, be informed, and make substantive contributions without alienating or putting down someone else. Practice how to engage in constructive discussion, especially when you disagree with someone else’s opinion.

Case Studies (LO 1, 2, 3, 4, 5, 6): General information

• You will form three groups total, and we will all read, work, and discuss the same case. • Each group will take the role of one functional department within a firm. When possible, I will

rotate these functions so that each group gets a chance to represent different functional areas. • Each of the three evenings during which we discuss a case, all three functional areas will converge

to discuss the best course of action for the firm. In other words, you are all working for the same firm but you have, of course, primarily the best interest of your department in mind.

• I will be the CEO / decision maker for each of these cases, and it is your job to convince me which strategic action to take.

• Each week I will give each group a set of specific goals, which will conflict with the goals of the other groups. These are to be treated as confidential!!!

• A complete grading rubric for both the executive briefings and the oral presentations will be posted to our course web site.

Written analysis (60% of the case grade)

• Each functional area (group) will prepare a briefing which will be no more than 700 words, including any exhibits (tables, graphs, etc.). It is not easy to fit a rigorous analysis into such a short document, but this is what executives often demand. Please use 12-point font and one-inch margins. Cover pages are not necessary, but your names must be on the document. Please proofread carefully; perception is everything and if your client (top management) perceives your

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presentation to lack business acumen, your actual findings and suggestions might be lost in the “noise” that your poor writing creates.

• Briefings are due to the CEO (me) by email (doc or docx attachment) no later than 120 minutes before the beginning of the class for which the case is assigned (the time stamp on your incoming email into my inbox will determine whether the briefing was on time or not). No late submissions or other formats will be accepted, and violating these rules would result in an automatic 0% for the case.

• General suggestions on how to approach the briefings include, but are not limited to: o Focus and organize your analysis. Consider using a framework from the readings or class

to help you organize your analysis. Remember, your audience (here: I) must be able to easily follow your thoughts, justifications, and suggestions.

o Don’t summarize the case. The audience (I) is very familiar with the situation and requires further analysis. A quick introduction might be appropriate.

o Use tables, graphics and bullets to make points o Be as specific as possible with your recommendations. Be sure to point out benefits as well

as any obstacles to any direction and/or implementation you suggest. Oral Presentation / discussion (40% of the case grade)

• Each group will designate two individuals who will speak for the functional area so that we will essentially have a 7 person discussion. Please rotate the team members who will speak so that everyone gets a chance. I will not control this, but hope that you will do the right thing.

• Those not speaking on a particular day should take notes. We will take a short recess during which each group can regroup, discuss their strategy and any adjustments, and talk to the others groups so that you all can come to a conclusion. As a company we will have to come to a final conclusion that every functional area can live with.

• I will time these sessions, and since time is money and I (the CEO) have other things to worry about, we have to keep the discussion moving forward. I therefore suggest that you get to your point as quickly as possible.

On-line Simulation (LO 1, 2, 3, 4, 5, 6):

• Your will participate in an on-line simulation called “Airline” in which you will compete against each other in groups of 3. The groups will be assigned by me based on your professional / academic background. To simulate an important part of the work environment students cannot have the same group members as in the Case Studies assignment.

• As I said, you will compete against each other. Your standings will be determined using a portfolio of performance indicators (balanced scorecard). Details are:

o Net Income 14% o Stock Price 14% o Aircraft Utilization 10% o Reliability 10% o Quality 10% o Current Ratio 14% o Return on Equity 14% o Cumulative Net Income 14%

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• A few days after our first class meeting you will take an on-line quiz regarding the rules / environment of the airline game. This quiz is meant to motivate you to familiarize yourself as quickly as possible with the game (given the very short time frame for this class). This quiz is worth 10% of your Airline Simulation grade.

• To simulate the real world as much as possible without being unreasonable, the final standings will determine 50% of your Airline Simulation grade. The 1st place team will receive 100%, and every team thereafter will receive 10% less than the team above them in the standings. For example, the 4th place team will receive 70%.

• By the first day of class you will already have received the rules and instructions of this game, and we will start a “practice” round right away. After that, you are required to submit two rounds of decisions each week. Decisions are due per the course schedule.

• After the practice rounds but before the start of the live rounds each team will prepare a short firm strategy and submit that to me via email attachment (doc or docx format only) before the 2nd class session. The document should not exceed 500 words, and should outline your basic strategy for the next 12 decisions. This is the document that should guide your future actions. You can of course make adjustments as you go through the game, but if the adjustments deviate from your initial strategy you should make a note, because

• On the last day of class, each team will present a 10 - 15 minute oral presentation to the rest of the class, outlining initial strategy, adjustment, and lessons learned. In addition each group will turn in a reflection of the simulation. Each report must address the following:

o How do your initial strategy and your actions (adjustments) throughout the game explain your final standing?

o What have you learned about working together in this group? o How, if at all, has this simulation helped you to feel better prepared for your future career?

This oral presentation (5%) and your report (10%) will determine 15% of your Airline Simulation grade.

• Throughout the game you will be presented with Critical Incidents. Each team will have to write a report on each of the Critical Incidents and hand them in to me. I will grade each report, and the average grade of your responses will determine 25% of your Airline Simulation grade. Guidelines for the Critical Incident Reports are directly related to the Learning Outcomes of this class and as follows:

o Recognize and identify the specific issues your company is facing o Formulate and execute your strategic response to the incident o Analyze and assess the impact of your strategic response o Forecast future actions and how you would adjust / change your approach in the future o Strategically collaborate within your group and work towards a strategic response

Make sure that your reports address all of these points so that I have written evidence of your progress towards achieving the goal of the class. Note: sometimes less is more.

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Airline Simulation Grading Summary

Instrument Final Standing

Percent of Grade

50 % Airline Quiz 05 % Strategy Presentation 10 % Strategy Report 10 % Critical Incident Reports 25 % 100 %

Exams (LO 1, 2, 3, 4)

• There will be two exams in this class. • The first exam will test you on the book chapters. • The second exam (ETS exam) is the senior exit exam. • More information about both exams will be given in class.

Grading:

Letter grades in the course will be based on your performance on the following items:

Instrument Discussion of Current News

Percent of Grade

05 % Homework 10 % Participation / Professionalism 15 % Case Studies 20 % Airline Simulation 25 % Course Exam 10 % ETS Exam 15 % 100 %

Grading Scale:

A 100% - 93% A/B 92% - 88% B 87% - 83% B/C 82% - 78% C 77% - 70% D 69% - 60% F 59% and below

(I will round your grades up and down; a 92.49% is a 92%, a 92.50% is a 93%

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Keys to success

• Be prepared for each class, which includes but may not be limited to, reading the chapter and/or doing the assigned homework for the previous chapter, reading and preparing the cases, staying current on your simulation, and reading the news.

• Ask questions! There is no such thing as a stupid question except the one not asked. • If you do not understand the material, ask during or after class and/or come to my office hours and we

can go through it again. • Do not procrastinate. You will have a very hard time catching up once you fall behind. For many of you

this may be one of your last classes. I would urge you to take this seriously, because I do and I grade accordingly.

• Understand that my expectations of you are at a very, very high level. That may mean that whatever approach to being successful worked for you before may not work anymore. Be ready to adjust!

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Policy Statements: Attendance Regular and prompt attendance in class is essential for your success. Absences WILL negatively impact your overall grade. Records of attendance are maintained by me, and official attention is given to any student with excessive absences. Please note that missing more than one (1) class session will result in lowering of your overall final grade by one letter grade. I define letter grades a follows: A, AB, B, BC, C, D, F. Please note that arriving to class more than 10 minutes late will count as an absence. The 10 minute rule will be based off my cell phone, which I assume (and checked with Sprint) is always correct. Leaving class early will count as an absence. Even if you are arriving late I would encourage you to still attend the class session because it will benefit you on cases, homework, and participation, but you are not going to get attendance credit for it. This I feel resembles rather accurately the work environment; if you are constantly late there will be consequences and eventually you will lose your job. If you have an acceptable reason to be late, or to leave, early please communicate with me in advance. Please clearly note that unless you communicate with me in a timely manner (meaning at your earliest convenience), any violation of the above mentioned attendance policy will automatically apply. If you communicate with me in appropriate manner I reserve the right to make an exception to the above mentioned policy on an individual basis. Statement on Academic Integrity The Carroll University Academic Integrity Policy is located in your student handbook. The university encourages you to familiarize yourself with it. If a student violates this policy in any way, I reserve the right to impose a sanction of failure on the assignment/assessment or failure in the course. If you have questions about appropriate citations, please ask. Academic Honesty Cheating on examinations, plagiarism, improper acknowledgment of proper sources in written material, and inaccurate claims of work done are serious offenses in an academic setting. These forms of unethical behavior will be subject to severe disciplinary action. All violations of academic honestly will be reported to the University. Accommodation for the Disabilities Any request for accommodation must be made through the Director of Services for Students with Disabilities at Carroll University (housed in the Walter Young Center). I will make appropriate accommodations once I receive notification from the Director of Disability Services. It is the student's responsibility to meet with me privately to clarify my expectations of the student and gain an understating of what exactly these “appropriate accommodations” consist of. Unless otherwise agreed to in written form (via email), all syllabus and exam instructions apply to all students.

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General Comments: It is my goal to create an active learning environment that is based on respect, the free exchange of ideas and active discussions. In that spirit:

1. NO CELL PHONES (or equivalent, let’s not get too technical) during class. If your communication device interrupts the class, you owe the class $1. If you initiate communication with anyone (i.e. texting or answering a text message) you will owe the class $3. I’ll use that money to buy cookie ingredients, hand those to my wife and while I work on a very long honey-do list she has agreed to bake you her famous chocolate chip cookies. You'll get those during the final class session to give you a sugar boost. Past experience has taught me that you (the students) always come out ahead; I always bear the majority of the cost of the cookies. However, this tactic does essentially eliminate interruptions due to phones, which is the point and purpose of this rule. This only works on an honor-system; I hope you all buy into it.

2. Be on time. It is disrespectful to those who are here on time if you are late. I understand that things can come up, but let’s not make it a habit.

3. Be prepared: I think of it as a given (but I will mention it anyway) that you read the assigned chapter(s) and cases in advance and that you are ready to contribute to the class by asking relevant questions and by possibly answering my questions that I have for you. Hint: I ask a lot of questions and tend to call on people.

4. Ask questions! My experience has been that those students who take initiative and are in control of their group, work, and schedules are generally very successful. Those students who hope that things will eventually fall in place find out that "hope is not a strategy".

5. No hats or inappropriate clothes. Think of this class as your place of work. This is a subjective matter, I acknowledge that. I reserve the right to remind you privately about this if I feel that your clothing is inappropriate. Why do I insist that you wear appropriate clothing? Very simple…I think it raises the level of professionalism in this class, and it prepares you for the world after your graduation. Trust me when I say that this will benefit you in the long run. After all, this class is supposed to prepare you for your time "after University".

6. No food. That’s what the breaks are for. I don’t mind drinks… 7. Respect each other and each other’s ideas at all times. Don't interrupt someone else, do not talk to

your neighbor during class, and please do not get personal when addressing someone else in this class. Let's keep this professional, please!

8. Communicate professionally. For example, I do not respond to emails that are missing a salutation, or are written in a non-business-like tone. Emails are official documents that will be out there forever…. Think about that before you hit "send". You don't want to make my "top 10" list…

9. Office hours: My office hours are written on this syllabus and also posted on my office door. I encourage you to make an appointment with me during the office hours; otherwise it is "first come – first served". That can be frustrating for you, especially if you have an urgent question. Please note that I require you to be prepared when you come to my office hours. Simply saying "I don't understand anything, please repeat your lecture" will not work for me. I am here to help and more than happy to help (of course), but I won't do the work for you. If you have prepared questions it will be more beneficial for you. Moreover, if you email me your questions ahead of time I might be able to provide additional support in form of exercises, etc. If the office hours do not work for you, email me and we can find other times to meet. I am pretty flexible.

10. Let's have some fun! Seriously, let's! Otherwise this will be a long semester for all of us. 11. All hail the German National Soccer Teams, the Denver Broncos, and….Heja BVB!!!

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Tentative Course Outline BUS 496 A Fall 2013

(subject to change)

Session Day Date Chapter Airline 1 THU 5-Sep 1 The Foundations of Strategic Management 2 TUE 10-Sep 2 Leading Strategically 3 THU 12-Sep 3 Analyzing the External Environment 4 TUE 17-Sep 4 Analyzing the Firm 5 THU 19-Sep 5 Business-Level Strategy Airline Quiz 6 TUE 24-Sep 6 Multiproduct Strategies 7 THU 26-Sep TBD Airline PR 1 8 TUE 1-Oct TBD Airline PR 2 9 THU 3-Oct TBD Airline PR 3

10 TUE 8-Oct 7 Acquiring and Integrating Business Airline Strategy Due via email 11 THU 10-Oct 8 Competing Across Borders

12 TUE 15-Oct 9 Creating and Maintaining Alliances 13 THU 17-Oct 10 Innovation through Strategic Entrepreneurship 14 TUE 22-Oct Fall Break 15 THU 24-Oct Exam Airline 01 16 TUE 29-Oct Introduction to Cases Airline 02 17 THU 31-Oct Case 1 Airline 03 18 TUE 5-Nov Airline 04 19 THU 7-Nov Case 2 Airline 05 20 TUE 12-Nov Airline 06 21 THU 14-Nov Case 3 Airline 07 22 TUE 19-Nov Airline 08 23 THU 21-Nov Case 4 Airline 09 24 TUE 26-Nov Airline 10 25 THU 28-Nov Thanksgiving Airline 11 26 TUE 3-Dec Airline 12 27 THU 5-Dec Case 6 28 TUE 10-Dec Airline Presentation 29 WED 18-Dec Final Exam (ETS) at 13:00; Location TBD

Documents

BUS 496: Business Policy and Strategy Course Syllabus