Business Management and Strategy (Tuck 003)
Professor Margaret Peteraf
This course is intended to introduce students to the basics of the how organizations are managed, with a special focus on the role played by a business firm’s strategy. Strategic management is concerned with how a firm sets its direction, chooses its business activities, and establishes and defends its position in a competitive market. This course will introduce you to concepts and tools that will help you to develop an understanding of how strategies are formed and managed, and how competitive advantage might be created and sustained.
The course learning objectives are:
- To expose you to a wide range of business practices and industry contexts including the strategies of major corporations.
- To develop an analytical toolkit of concepts, frameworks and techniques you can use to identify, assess and develop competitive and corporate strategies.
- To help you learn how to approach the analysis of unstructured problems and ambiguous situations encountered in the business world.
- To provide an opportunity to further develop your skills in problem solving, analytical thinking, and oral communication.
Course topics include:
• Setting corporate vision, mission and objectives
• Analyzing a firm’s external environment
• Evaluating a firm’s resources and capabilities
• Creating and sustaining competitive advantage
• Choosing and managing competitive strategies
• Competing in global markets
• Diversification and competing in multiple businesses
• Managing effective strategy execution
Class sessions will be interactive in nature with a combination of lectures, discussions of readings, case analyses, and in-class exercises. This course emphasizes active group learning which requires everyone to do their part in terms of both preparation before class and participation in class. Course grades will be based on contribution to in-class discussions, written homework assignments, and two exams.
The course has no prerequisites but is open to seniors, juniors and sophomores only. Registration priority is given to students by class year, seniors having the highest priority. Students enrolled in the course are eligible to elect the Non-Recording Option.
The textbook used for the course is Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases, 18th edition, by Thompson, Peteraf, Gamble, and Strickland. There are no other required materials.