University of Aberdeen Business School

MS4503 Business Policy, 2008/09

University of Aberdeen Business School Management Studies

Business Policy (MS4503)

2008/09 Second Semester

Level 4: 30 credits

Course Coordinator: Dr Raluca Bunduchi Office: S2, Edward Wright Building

[email protected]

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mailto:[email protected]


Table of content

1. Summary....................................................................................................................3

2. Course Aims ..............................................................................................................3

4. Teaching staff............................................................................................................3

5. Approaches to Teaching and Learning....................................................................4 Lectures................................................................................................................................ 4 Tutorials............................................................................................................................... 4

6. Recommended readings ............................................................................................6 Textbook .............................................................................................................................. 6 Lectures & Suggested readings.......................................................................................... 6

LECTURE 1: Introduction: What is strategy and why does it matter? ...........................................7 LECTURE 2: Strategic analysis .....................................................................................................7 GUEST LECTURE: Strategic ramblings: A walk through a decade of strategic thinking & action (Steve Harrison, SE) .......................................................................................................................8 LECTURE 3: Strategic analysis: The Resource Based View .........................................................8 LECTURE 4: Business Strategy .....................................................................................................8 LECTURE 5: Corporate Strategy ...................................................................................................9 LECTURE 6: Functional Strategy ..................................................................................................9 GUEST LECTURE: Competencies & Employability Skills (Konica Stones, PwC Scotland) ......9 LECTURE 7: Strategy implementation: The Resource Based View............................................10 LECTURE 8: Functional strategy – implementation....................................................................10 LECTURE 9: Strategy implementation 1 .....................................................................................10 LECTURE 10: Strategy implementation 2 ...................................................................................11 LECTURE 11: Emergent strategy ................................................................................................11 LECTURE 12: Corporate Governance .........................................................................................12 LECTURE 13: Global strategic management 1............................................................................12 LECTURE 14: Global strategic management 2............................................................................12

7. Assessment...............................................................................................................13 Introducing the Coursework Assessment ....................................................................... 13 The Assignment ................................................................................................................. 13 Question 1: ......................................................................................................................... 14 Question 2: ......................................................................................................................... 14 Submission Date ................................................................................................................ 14 Feedback and Assessment of Course Work.................................................................... 14

8. Regulations..............................................................................................................15

Turnitin cover sheet ....................................................................................................16

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1. Summary No single sub-field of business management has so dominated the attention of academics, consultants and practitioners alike as the subject of Business Policy, or as it is now more commonly referred to, Strategic Management. To consistently generate surplus and profits in excess of the cost of capital, a company must possess some form of competitive advantage which derives from the way it configures its resources and how it positions itself within a particular business sector. An organization’s strategy must therefore match its resource capabilities, its environmental circumstances, and its core objectives. A good company strategy should integrate an organization’s goals, policies, and action sequences (tactics) into a cohesive whole, and must be based on business realities. Mismatch between chosen strategy, resource capabilities and the external environment can result in failure no matter how 'excellently’ conceived the strategy might be. Strategy must connect vision, purpose and capabilities with likely future trends. Top managers of large firms devote the bulk of their efforts and attention to formulating a clear and coherent strategy for their businesses even though there remains some disagreement about what key elements make for business success. What can be observed, however, is that, in a world of increasingly intense global competition, businesses are having to continuously re-evaluate their resource capabilities, their strategic goals and their market position, vis-à-vis their competitors and to ensure their continued viability by remaining attractive to a wide variety of stakeholders including customers, employees, shareholders and the public at large. The key questions that business policy or strategic management addresses is how, given a relatively stable and definable market sector, limited material assets and the dynamic capabilities of its human resources, an organization should deploy them so as to optimise its returns. The literature on strategy is replete with prescriptions as to what constitutes best strategy and how to go about developing one. In this course we will explore and examine the key concepts, models and theories and their presuppositions and show how each approach towards strategy give rise to particular strategic priorities for a business organization. Business Policy (MS4503) is worth 30 credits and is a compulsory course for 4th year students registered for a single degree in Management. We will introduce the teaching programme through 36 lecture sessions and 9 seminar sessions. You will participate in the course through attending lectures, taking part in tutorials, undertaking reading, submitting a written assessment (20%) and sitting a three-hour examination (80%).

2. Course Aims The aims of this course include:

1. to equip you with the knowledge to understand what strategy is, how it is formulated and implemented in organisations, and what kind of tools and models you can use to support your strategic decision making

2. to provide you with a holistic understanding of the different aspects involved in strategic management.

4. Teaching staff The teaching team includes:

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Dr Raluca Bunduchi, Room S02, Edward Wright Building, email: [email protected], phone: 273318

Dr Jing Cai. Room S63, Edward Wright Building, e-mail: [email protected], phone: 272394

Dr Remi Oke, Room S22, Edward Wright Building, e-mail: [email protected], phone: 272074

Dr Alison Smart, Room S3, Edward Wright Building, e-mail: [email protected], phone: 272261

The course coordinator is Dr Raluca Bunduchi.

5. Approaches to Teaching and Learning The lectures will introduce the theories, concepts and techniques of analysis. The tutorials will focus on applications of these theories, concepts and analytical techniques mainly through case studies. Coursework is designed to enable you to undertake your own independent case study analysis and to provide an avenue to channel your individual interpretations of the theories and concepts discussed in lectures and tutorials.

Lectures Lectures commence on the week starting 2nd of February, and will continue on a weekly basis. Lectures will take place on Mondays between 1100-1300 in St Mary 105 and one hour lecture session on Thursdays between 1400-1500 in NK10. Please not that not all sessions on Thursdays will run. You should check the WebCt weekly for information regarding the times and material required for the lecture sessions. We will introduce theories, concepts and techniques of analysis during the lectures, presenting the scope for their application, and suggesting strengths and weaknesses. You must support and develop further your understanding of Innovation Management by undertaking additional reading, as set out in the Recommended readings section of the course guide.

Tutorials Tutorials commence in the week beginning Monday 9th of February. There are 3 tutorial groups: Monday from 1300-1400 and 1600-1700 both in MR315 and Tuesday 1600-1700 in MT159. You will choose your tutorial group at the beginning of the semester. Once allocated to a tutorial group, you must attend only this group’s meetings. We have devised the tutorial programme as the main means of applying the theories, concepts and techniques of analysis – presented in lectures – often to case studies. The tutorials are an integral part of the course and are just as likely to be the basis of exam questions as the

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material presented in lectures. The material for the tutorial will be available on the WebCt the week prior to the tutorial being held. The tutorial and lectures will meet during the course as shown in the table below1.

Week Meetings Tutorials

1 Monday, 2.02 Lecture 1: Introduction to the course: What is strategy and why does it matter? (Dr Raluca Bunduchi)

No tutorials this week

Monday, 9.02 Lecture 2: Strategic analysis (RB)

2 Thursday, 12.02

Guest Lecture: Strategic Ramblings: A walk through a decade of strategic thinking and action (Steve Harrison, Scottish Enterprise)

Monday & Tuesday Tutorial 1(RB)

Monday, 16.02 Lecture 3: Strategic analysis: The resource based view of the firm (Dr Remi Oke) 3

Thursday, 19.02 Lecture 4: Business Strategy (RB)

Monday & Tuesday Tutorial 2 (RO)

Monday, 23.02 Lecture 5: Corporate Strategy (RB) 4

Thursday, 26.02 Lecture 6: Functional strategy (Dr Alison Smart)

Monday & Tuesday Tutorial 3 (RB)

Monday, 2.03 Guest Lecture: Competencies & employability skills (Konica Stones, PriceWaterhouseCoopers) 5

Thursday, 5.03 Q&A Session on Strategy Formulation (RB)

Monday & Tuesday Tutorial 4 (RB)

Monday, 9.03 Lecture 7: Strategy implementation: The resource based view (RO)

6 Thursday, 12.03 Lecture 8: Functional strategy -

implementation (AS)

Monday & Tuesday Tutorial 5 (RO)

Monday, 16.03 Lecture 9: Strategy implementation 1 (RO) 7

Thursday, 19.03 Q&A Session on Strategy Implementation (RO)

Monday & Tuesday Tutorial 6 (AS)

8 Monday, 23.03 Lecture 10: Strategy implementation 2 (RO) No tutorials this week (deadline for the course work)

1 Please note that this outline is only a guide and remains open to modification. Make sure you check the WebCt site regularly for the latest information concerning the course outline.

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EASTER BREAK

9 Monday, 20.04 Lecture 11: The emergent view on strategy making (Dr Jing Cai)

Monday & Tuesday Tutorial 7 (JC)

10 Monday, 27.04 Lecture 12: Corporate governance (JC) Monday & Tuesday Tutorial 8 (JC)

Monday, 4.05 Lecture 13: Global strategic management 1 (JC)

11 Thursday, 7.05

Q&A Session: Emergent strategy. Corporate governance & global issues in strategic management (JC)

Monday & Tuesday Tutorial 9 (JC)

Monday, 11.05 Lecture 14: Global strategic management 2 (JC) 12

Thursday, 14.05 Revision (JC)

No tutorials this week

6. Recommended readings Copies of all these books are available in the Queen Mother Library & the textbooks ordered at Blackwell bookshop. The main textbook for this course is Richard Lynch. Other recommended books that you could use as alternatives (or in addition) to Lynch are listed below. We would suggest you check the books in the library and pick one that you – hopefully – will enjoy reading and stick with it. Additional readings are provided for each of the lectures. Make sure you cover the readings suggested for each lecture during your preparation for the course.

Textbook Lynch, R. (2008) Strategic Management, 5th Edition, Harlow: Prentice Hall (you could also use the 4th edition of the textbook titled Corporate Strategy. Copies of this edition are available in the library) While we recommend Lynch, there are a number of other textbooks on strategic management that you could choose from. We would suggest that you check the textbooks available in the library, choose the one which you like best and stick with it throughout the course. Relevant other textbooks on strategic management include (but are not limited at): Henry, A. 2008 Understanding strategic management. Oxford: Oxford University Press Johnson G et al 2008 Exploring corporate strategy, 8th edition, Harlow: Prentice Hall Thompson, J.L. 2001 Understanding corporate strategy, London: Thompson Learning

Lectures & Suggested readings For each lecture, start with one of the suggested course books and then go on to some of the additional reading from journals. Where different course books are listed, they are usually

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alternative sources. Likewise, additional reading includes many sources in recognition of your different interests in the subject. We expect you to make use of additional and more advanced reading in preparing coursework submissions. The articles can be accessed electronically via the university library catalogue. LECTURE 1: Introduction: What is strategy and why does it matter?

In this lecture, we explore the nature of corporate strategy and argue that there are two distinct understandings of the way in which strategy can be developed. The prescriptive approach takes the view that strategy appears at a point in time and is governed by a set of rules, fully formulated and ready to implement. The emergent view understands strategy as emerging and changing, a strategy which survives by adapting as the environment itself changes. Readings Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapters 1,2,5,6&7

1. Andrews, K, R. (1971) The concept of corporate strategy, Homewood, IL: Dow Jones-Irwin, 18-46 (in the library – the 1987 edition)

2. Ansoff, H. I. (1987) Concept of strategy, in Corporate Strategy, London: Penguin Books, 100-116 (in the library)

3. Eden, C. & Ackermann, F. (2004) Making strategy. London: Sage, chapter C2 (in the library)

4. Mintzberg, H. and Waters, J.A. 1985 Of strategies, deliberate and emergent, Strategic Management Journal, 6(3), 257-272 (available electronically via jstor at http://uk.jstor.org/)

5. Mintzberg, H. 1978 Patterns in strategy formation, Management Science, 24(9), 934-948 (available electronically via jstor at http://uk.jstor.org/)

6. Mintzberg, H. 1994. Rethinking strategic planning Part II: New roles for planners, Long Range Planning, 27(3), 22-30 (available via google scholar at http://scholar.google.com/)

LECTURE 2: Strategic analysis

The ability of an organisation to analyse and understand its resources and its environment are essential elements of a good strategy, regardless of the particular approach to strategy making. This lecture will explore the environment in which organisations operate and the tools that organisations use in order to make sense of this context. The following lecture will focus on understanding the resources that an organisation posses. Readings: Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapter 3

1. Porter, M. 1980 Competitive strategy, Free Press, New York (in the library) 2. Porter, M. 1991 Towards a Dynamic Theory of Strategy, Strategic Management

Journal, 12 (Special Issue: Fundamental Research Issues in Strategy and Economics), 95-117. (available electronically via jstor at http://uk.jstor.org/)

3. Spanos, Y.E. & Lioukas, S. 2001 An examination into the causal logic of rent generation: Contrasting Porter’s competitive strategy framework and the Resource-Based perspective, Strategic Management Journal, 22(10), 907-934

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GUEST LECTURE: Strategic ramblings: A walk through a decade of strategic thinking & action (Steve Harrison, SE)

Steve will share some of his own experience in strategic decision making, and will discuss some of the challenges he encountered, including the difference of emerging versus planned strategies, the role of strategic models, the difference between strategy and tactics and the difference between tool users and theorists. LECTURE 3: Strategic analysis: The Resource Based View

The fundamental question in the field of strategic management is how firms achieve and sustain competitive advantage. In recent years, a model of how firms compete, unique to the field of strategic management, has begun to emerge. Known as the ‘Resource-based view’ (RBV), this view focuses on the internal organization of firms and on how competitive advantage within firms is achieved and sustained over time. The lecture will introduce the concept of RBV by arguing that success of firms cannot be explained wholly by market factors. Readings: Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapter 4

1. Barney J B & Arikan A M (2001) ‘The Resource-based View: Origins and Implications’ in Hitt M A et al (eds.) Handbook of Strategic Management Blackwell publishers

2. Hamel G & Prahalad C K (1994) Competing for the Future Boston, Harvard Business School Press.

3. Johnson, G; Scholes, K. and Whittington, R. (2002, 2008), Exploring Corporate Strategy, London; Prentice-Hall.

4. Peteraf M (1993) ‘The Cornerstone of Competitive Advantage: A Resource-Based View’ Strategic Management Journal, 14 179-191.

5. Prahalad C K & Hamel G (1990) ‘The Core Competence of the Corporation’ Harvard Business Review 3 79-91.

6. Nonaka I (1991) ‘The Knowledge-Creating Company’ Harvard Business Review LECTURE 4: Business Strategy

As discussed during the first lecture, strategic options can be developed at 3 levels within organisations: functional, business and corporate level. Today we start analysing the business level strategic options. We will discuss Porter’s 3 generic strategies and the options that organisations have to expand into new businesses. Readings: Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapter 8

1. Kim, W.C. and Mauborgne, R. (2005) Blue Ocean Strategy. Harvard Business Press, Boston

2. Ohmae, K. (1989) The global logic of strategic alliances, Harvard Business Review, March –April

3. Porter, M. (1980) Competitive strategy, Free Press, New York

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4. Porter, M. (1991) Toward a Dynamic Theory of Strategy, Strategic Management Journal, 12(Winter), 95-117

LECTURE 5: Corporate Strategy

This lecture analyses the strategic options developed at the corporate level. While the role of the business units is to create competitive advantage in their particular markets, their strategies need to be coordinated at the level of the corporation. The corporate unit fulfils different roles, and as such there are different approaches to the formulation of corporate level strategy. Generally, the role of the corporate parent is to set the direction of the corporation as a whole. In addition to these directional strategies, corporate strategy options also include portfolio strategies and parenting strategies. Readings: Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapter 9

1. Goold, M. & Campbell, A. (1994) Corporate level strategy, Wiley. 2. Johnson, G., Scholes, K. and Whittington, R. (2005) Exploring corporate strategy. Text

and cases. 7th Edition, Prentice Hall, pg. 285-291; 315-326 3. Thompson, J. and Martin, F. (2005), Strategic Management. Awareness and Change,

5th Edition, Thomson, pg. 490-525; 554-595; 619-632 LECTURE 6: Functional Strategy

It is important that the different functions within organizations have strategies that support the business and, where appropriate, corporate strategies. In this session we will think about what constitutes a functional strategy and how the different strategies fit together. Readings: Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapter 4 ( or Lynch, R. 2006 Corporate strategy, 4th edition, Prentice Hall, Harlow, chapter 7, 8 & 9)

1. Hill, C. W. and Jones, G.R.(2008) Strategic Management: theory Houghton Muffin, USA, Chapter 4: Building Competitive Advantage Through Functional-Level Strategy‘ (copies available from outside S3, Edward Wright Building)

2. Slack, N., Chambers, S. and Johnston, R. (2007) Operations Management (4th or 5th edition) FT Prentice Hall, Harlow. Chapter 3: Operations Strategy

GUEST LECTURE: Competencies & Employability Skills (Konica Stones, PwC Scotland) . To apply for jobs and interviews you need to have a clear strategy in place. You need to demonstrate that you have the competencies required for the job. During this session Konica will try to get you to think about how you can provide evidence to support your claim that you have the required competencies for the job you are applying for. This session introduces the competencies that employers look for, using PwC's competencies as a model. You would then work in groups taking a couple of competencies and then discussing how could you demonstrate that you have met this competency through your university and non-university work & activities. At the end of the session Konica will run through some hint/tips of completing application forms and attending interviews.

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LECTURE 7: Strategy implementation: The Resource Based View

This lecture will explain the concept of resources, competences and core competencies and how firm resources and capabilities can help to sustain competitive advantage. Readings: Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapter 4 (See lecture 3) LECTURE 8: Functional strategy – implementation

Effective implementation of strategy is essential. Implementing functional strategies requires using a range of tools and skills to ensure that the strategy is effectively embedded within the function and that new ways of thinking and working are successfully adopted. In this session we will consider the types of tools that may be employed in implementing functional strategies. Readings: Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapter 4 ( or Lynch, R. 2006 Corporate strategy, 4th edition, Prentice Hall, Harlow, chapter 7, 8 & 9)

1. Slack, N., Chambers, S. and Johnston, R. (2007) Operations Management (4th or 5th edition) FT Prentice Hall, Harlow. Chapter 3: Operations Strategy

LECTURE 9: Strategy implementation 1

By whatever method strategies are selected; there will come a time when every organisation will need to put its strategies into practice. Strategy implementation involves change; both the organisation and its environment are constantly changing. This lecture will introduce the concept of implementation using relevant case examples, it will show how embarking on a new strategy might involve a reorganization of the firm. Readings: Lynch, R. 2008 Strategic Management, 5th edition, Prentice Hall, Harlow, chapter 12, 13, 14 & 15

1. Beaudan E (2001) ‘The failure of strategy’ Ivey Business Journal January/February 2001

2. Candido C J F & Morris D S (2001) ‘The implications of service quality gaps for strategy implementation’ Total Quality Management 12 (7 & 8) 825-833.

3. Dell M, Rollins K, Stewart T A & O’Brien L (2005) ‘Execution without Excuses, An interview with Michael Dell and Kevin Rollins’ Harvard Business Review March.

4. Hickson D J, Miller S J & Wilson D C (2003) ‘Planned or Prioritized? Two Options in Managing the Implementation of Strategic Decisions’ Journal of Management Studies, 40(7) 1804-1836

5. Homburg C, Krohmer H & Workman J P (2004) ‘A strategy implementation perspective of market orientation’ Journal of Business Research 57 1331-1340

6. Kaplan R S & Norton D P (2005) ‘The Office of Strategy Management’ Harvard Business Review October.

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7. Longman A & Mullins J (2004) ‘Project management: key tool for implementing strategy’ Journal of Business Strategy, 25 54-60

8. Mankins M C & Steele R (2005) ‘Turning Great Strategy into Great Performance’ Harvard Business Review July-August.

9. Marginson D E W (2002) ‘Management control systems and their effects on strategy formation at middle-management levels: Evidence from a U.K. Organization’ Strategic Management Journal, 23 1019-1031

10. Nutt P C (1998) ‘Leverage, Resistance and the Success of Implementation Approaches’ Journal of Management studies 35 (2) 213-240

11. Wheelen T. and Hunger J. (2004, 2005) Strategic Management and Business Policy, London; Prentice-Hall.

LECTURE 10: Strategy implementation 2

To be effective, intended strategies must be implemented successfully. The prospects for effective implementation are clearly dependent on appropriateness, feasibility and desirability of the strategy. At the same time competency in implementation is important; the ability to translate ideas into actions and generate positive outcomes, sometimes swiftly, can itself be a major source of competitive advantage. Strategies need to be effectively communicated, and properly resourced, and the reason for change needs to be understood and properly coordinated with stake holders inside and outside the organisation Readings: Lynch, R. 2008 Corporate strategy, 5th edition, Prentice Hall, Harlow, chapters 12, 13, 14 & 15 (see lecture 9)

LECTURE 11: Emergent strategy

In this lecture we explore strategy making from the bottom-up emergent approach. In contrast to traditional strategic analyses, which rely on established theoretical principles, explanations and frameworks on business strategy that are found in strategy textbooks, the bottom up approach to strategy emphasizes the actual world of strategy-making where tangible outcomes and desired effects determine the usefulness of a concept or idea; what ‘works’ is more important than what is ‘true’. The emergent approach in strategy theorizing seeks to show how strategy practitioners cope with their emerging situations on a day-to-day basis. Readings: Lynch R. (2008) Strategic Management, Prentice Hall, 4th edition, chapter 2 & 11

1. Mintzberg H & Waters J A (1985) ‘Of strategies deliberate and emergent’ Strategic Management Journal 6(3) July-September 257-267.

2. Jazabkowski P (2004) ‘Strategy as practice: Recursion, adaptation and practices-in-use’ Organization Studies 24 (3) 489-520.

3. Johnson G, Meilin L & Whittington R (2003) ‘Micro-strategy and strategizing: towards an activity-based view’ Journal of Management Studies 40 (1) 3-22.

4. Pettigrew A M & Whipp R (1999) Managing Change for Competitive Success Oxford, Blackwell.

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LECTURE 12: Corporate Governance

This lecture will define corporate governance and explain why it is used to monitor manager’s strategic decisions. Nowadays in a modern corporation, ownership has been largely separated from managerial control. What is an agency relationship and managerial opportunism? How three internal governance mechanisms (ownership concentration, the board of directors and executive compensation), are used to monitor and control managerial decision? All these issues will be discussed in class Readings: Lynch R. (2008) Corporate Strategy, Prentice Hall, 5th edition, chapter 7.

1. Henry, A. (2008) Understanding Strategic Management, Oxford Press, chapter 8. 2. Kirvogorsky, V. 2006, Ownership, board structure and performance in continental

Europe, International Journal of Accounting, 41 2: 176-179. 3. Deutsch, Y., Kei, K. & Laamanen, T. 2007, Decision making in acquisitions: the effect

of outside director’s compensation on acquisation patterns, Journal of Management, 33 (1): 30-56.

4. Faleye, O. 2007, Classified boards, firm value and managerial entrenchment, Journal of Financial Economics, 83: 501-529

LECTURE 13: Global strategic management 1

This lecture defines what globalisation means for a business enterprise. The transition from a multinational to a global posture is driven by various social, political, economical, technical factors. This lecture will explore forces pushing towards globalisation and forces pushing for localisation. It will also discuss a framework for the formulation of a global strategy, which consists of four major components: a global strategic ambition; a global strategic positioning; a global business system and a global organisation. Readings: Lynch R. (2008) Strategic Management, Prentice Hall, 5th edition, Chapter 19.

1. S. Li 2005, Why a poor governance environment does not deter foreign direct investment: the case of China and its implications for investment protection, Business Horizons, 48(4): 297-302.

2. Mellahi, K et at (2005) Global Strategic Management, Oxford, chapter 2, 5. 3. Sapienza, H.J., et al, 2006, A capabilities perspective on the effects of early

internationalization on firm survival and growth, Academy of Management Review, 31: 914-933.

4. Steensma, H.K. 2006, International market entry by U.S. Internet firms: an empirical analysis of country risk, national culture and market size, Journal of Management, 32: 56-82

LECTURE 14: Global strategic management 2

This lecture explores three issues: 1) Models of organisational structures. How to design an organisation in the context of a particular environment? 2) Assessing country attractiveness.

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How to evaluate market and industry opportunities? How to assess country risks? 3) Entry strategies. Why enter? When to enter and how to enter? Course books: Lynch R. (2006) Corporate Strategy, Prentice Hall, 4th edition, Chapter 19.

1. Gupta, A.K. & Wang H. 2007, How to get China and India right: Western companies need to become smarter and they need to do it quickly, Wall Street Journal, April 28 R4.

2. Mellahi, K et at (2005) Global Strategic Management, Oxford, chapter 7, 11 3. Rodriguez P. et al, 2005 Government corruption and the entry strategies of

multinationals, Academy of Management Review, 30: 383-396 4. Xu D., &. Shenkar O, 2004, Institutional distance and the multinational enterprise,

Academy of Management Review, 27: 608-618.

7. Assessment Assessment comprises one coursework assignment and one exam. The coursework contributes 20% of your final mark and the exam contributes 80%. Both will be marked using the University’s Common Assessment Scale. The exam will take place in June 2009.

Introducing the Coursework Assessment The aim of the coursework assignment is to provide you with an opportunity to apply a subset of the theories and concepts taught on the course to a particular practical case. In order to prepare a successful assignment, you will also need to draw upon your skills in interpreting or framing the problem and identifying the key issues as affecting the case in the question that you choose. You need to be selective both in identifying the key problems facing those involved in the case and in identifying the appropriate set of theories, concepts and techniques of analysis. Your assignment will need empirical content. Web resources of newspapers such as the Financial Times, The Economist and The Guardian are useful places to start. For theoretical, conceptual and technical reading, please draw upon the reading lists set out for the lectures in which you think material relevant to the particular questions was presented.

The Assignment Your assignment should be individually prepared, typewritten, not more than 2500 words (not including bibliography and appendices). You must also include a full bibliography following the Harvard referencing style (information about the style available here: http://www.usq.edu.au/library/help/ehelp/ref_guides/harvardonline.htm). Make sure that you follow normal citation conventions in preparing your coursework by citing the ideas or data of others at the point in your coursework where these ideas & data are included. You should choose one out of the following 2 questions:

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Question 1: Some authors argue that the current business environment is characterized by increased rates of change. Using appropriate organizational examples, discuss the implications of this argument for strategy and its formulation. You will need to enclose a full list of sources (e.g. journal articles, books) that you have read for this assignment, even if you do not cite them in the text. You will need to append a page evaluating the process of literature search that you have followed to write this essay. This will be part of the assignment, but it will not graded.

Question 2: Identify an organization for which you have access to one of the managers involved in strategic decision making. Conduct a short interview with the manager that enables you to identify the organization’s strategic resources and core competencies. Then write a report that examines the strategic fit between the organizational resources and the environment in which it operates. The report should evaluate the strategic fit. Where the fit is less then perfect, you should offer recommendations for future actions to ensure a better fit. Alternatively, the report should demonstrate why the current strategy is wholly appropriate. You should append either the transcription or the (photocopied) notes taken during the interview. This will be part of the assessment, but it will not be graded. You will also need to make sure you inform the respondent with regards to the purpose of the interview and obtain his / her consent to use the information in your assignment. If required, you will also have to maintain the confidentiality of the data and anonymity of the individual.

Submission Date The submission date for this coursework assignment is Thursday, 26th of March 2009 at 12 noon at the Business School Office. An electronic copy of the assignment in the form of a Word document should also be submitted by the same deadline at Turnitin at http://www.submit.ac.uk/.

Assignments that are not submitted in this way may not be accepted. Assignments will not be accepted by fax or by e-mail to the course coordinator or school office. Only in exceptional circumstances will the course coordinator approve other methods of submission. Assignments will be marked using the University’s Common Assessment Scale. Lateness will be measured using the date and time that the assignment is received by the school office. Assignments that are submitted late will be reduced by one CAS mark for each two days late (or part thereof). Assignments submitted fourteen or more days late will be awarded a mark of zero.

Feedback and Assessment of Course Work We will provide you with a mark using the University’s Common Assessment and feedback on the essay. The feedback is intended to diagnose the strengths and weaknesses of your assignment, in terms of your interpretation of the task, organisation of the assignment, knowledge of theories, concepts and techniques of analysis in application to the particular case, and use of empirical data in supporting your analysis and argument. We follow the University of Aberdeen’s procedures on assessing all work that contributes towards final degree awards. Samples of coursework are sent to our External Examiners. Any course work assignment must be the work of the student who submits it. Plagiarism, including for example the direct copying of already published work, or of another

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current or former student’s work, without acknowledgement, is regarded as a serious offence. Quotations from published works should be acknowledged by the use of quotation marks and a specific reference to the work cited.

8. Regulations See the Regulations & Codes of practice for Level 3&4 Management and Entrepreneurship courses available at: http://www.abdn.ac.uk/business/comfiles/handbooks/m_year34_handbook.pdf

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University of AberdeenBusiness School

Student’s name:

Student ID Number:

Course Name: Business Policy

Course Code: MS4503

Tutor’s Name:

Question answered (selectas appropriate)

• Question 1 • Question 2

You must post the assignment in the appropriate box opposite room S51, Edward Wright Building by the due date and time. All Courses Submit one copy of your assignment and this sheet (stapled to the

front of your assignment) into the relevant box and submit one electronic copy (without this form) to Turnitin: http://www.submit.ac.uk/

The class id is 102681 and the password is MS4503 Failure to submit an electronic version will result in a grade of zero being awarded. The electronic copy will be used to help check for plagiarism and also act as a record of when the coursework was submitted. You must also ensure that this form and all pages of the assignment are secured together, preferably stapled. Do not put your assignment in a plastic folder unless instructed to do so by the course coordinator.

I confirm a) that this is my own work and that I have read, understood and abide by the University

regulations relating to plagiarism and collusion (http://www.abdn.ac.uk/registry/quality/). b) that sources of all referenced material have been properly acknowledged. c) that I am aware my work may be checked for plagiarism. d) that I give permission for the duplication of this work for examining purposes. Signed (by student): Date:

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University of Aberdeen Business School

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Transcript of University of Aberdeen Business School