CORPORATE AND BUSINESS STRATEGY
Syllabus
Updated A.Y. 2024-2025
University Tor Vergata Department of Management & Law
Bachelor program in
Business Administration & Economics
Course “Business and Corporate Strategy”
Professor Marjan Bojadjiev
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Academic year |
2024/2025 |
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Semester |
Fall |
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Prerequisites for the course |
None |
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Contact |
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WhatsApp, Viber |
+389 78 35 74 35 |
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Meeting and Consultations (online) , Tuesdays, 30 minutes after the classes upon previous schedule |
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- BACKGROUND OUTLINE
In Management 101 we learn about the importance of planning, setting goals and the strategy setting and execution. The latter is the most important item in the process which leads to the implementation of plans in order to achieve previously set goals. Furthermore, strategy and strategic capability are of key importance to the firm’s resilience.
We live in time when the only static thing is permanent change. The environment in the last half a century has changed dramatically. Ha have had changes in the broad environment, from G7 to G20, China’s transition from underdeveloped nation to a world power and the change of composition of Dow Jones Index which doesn’t feature a single firm from its establishment. We have had lesser and bigger crisis: from the financial turmoil in 2009 to the Covid crisis that started in 2019.
As students of business we need to understand why some firms are successful and some are not; why some businesses strive and some go down. Nokia was by far the largest cell phone producer, Yahoo the biggest search engine, but not anymore. The main topic we’d try to understand in this course is strategic capability of the firm!
- 1 LEARNING OBJECTIVES
Upon successful completion of this module, the student should be able to:
- Understand the strategic capability of the firm.
- Understand the importance of strategy for navigation in challenging and unpredictable business environment, Understanding the importance of value creation.
- Get a deeper understanding of customer needs, competitive forces and the firm’s strengths and weaknesses with regards to the newer concepts of complementarity and the role of “state” in the situational analysis.
II.2 LEARNING OBJECTIVES ACCORDING TO THE DUBLIN DESCRIPTORS
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Dublin Descriptor |
Associated Learning Goal |
Evaluation through |
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Knowledge and Understanding |
Students understand and master core concepts of business planning, strategy, understanding of the environment; Get awareness about the process of strategy formulation and strategy implementation; |
Examination, Case Analysis |
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Application of Knowledge |
Students are capable of applying the knowledge and performing situational analysis; |
SWOT and PESTLE Exercise
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Judgment and Decision Making |
Develop Skills for Decision Making in Complex situations; Develop Rational Decision Making Model and Bounded Rationality, Understand the Role of Intuition |
Selection of appropriate strategies – Case Analysis |
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Communication |
This is one of the most important skills for modern business persons; We’ll develop language capability, writing academic articles and projects and presentations skills |
Written essays; Oral presentations and communication; projects
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Self -Direction Skills |
One of the most powerful tools of today managers is the capacity of self-reflection and determination of the future goals. |
Self-Evaluation at the end of the course |
III TEACHING METHODS
The module will use a variety of teaching and learning methods to enhance learning and understanding including lectures, workshops and seminars, and it will place emphasis on developing critical skills of analysis, strategic choice and implementation through the use of workshops and case studies.
During the course we’ll have a number of videos and movies that are relevant to the course. We will use them as a basis for class discussion.
This is participant centered learning module so students are invited to be active in class discussion. Activity is strongly encouraged and graded.
Due to the Covid pandemic the module is delivered online. Many of participants will join the course from Italy and many from other countries but we shall all depend on broadband internet. We might experience sporadic difficulties in communication. I encourage everyone to be patient and calm and we can sort out all the problems and difficulties together.
We shall try to implement discussion based participatory classroom as much as possible in this situation.
IV.1 EVALUATION METHOD FOR ATTENDING STUDENTS[1]
Evaluation method for attending students will include:
- Final Exam……………………..….………..100%
- Class activity, participation and case analysis can earn up to 15% of the total grade.
- If a student has earned maximum points, these 15% will be used towards the CUM LAUDE grade
IV.2 EVALUATION METHOD FOR NON-ATTENDING STUDENTS
Evaluation method for non- attending students will include:
- Final Exam……………………..….………..100%
Final exam can be structured as written exam with essay questions, case analysis, project or a combination of the above mentioned!
IV.3 GRADING
- Tor Vergata follows the policy of 0-30 points for the grading.
- Exceptional students may earn 30 “Cum Laude”
- Passing threshold is 18 points (60%)
V.1 REFERENCE BOOKS
Required Textbook:
“Contemporary Strategy Analysis: Text and Cases Edition”, 9th Edition
Robert M. Grant ; ISBN: 978-1-119-12084-1 December 2015, or the previous edition
“Contemporary Strategy Analysis” Robert M. Grant 7th Edition and “Cases to Accompany Contemporary Strategy Analysis”
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Optional Textbooks:
“Strategic Management: Concepts and Cases: Competitiveness and Globalization” Michael A. Hitt, R. Duane Ireland, Robert E. Hoskisson, Cengage Learning,, 2016
“Strategic Management: Concepts and Cases:” Fred R. David, 13th Edition, Prentice Hall International 2011
V.2 ADDITIONAL READINGS:
- “The Art of War” Sun Tzu, Penguin Great Ideas
- “What is strategy” Michael E. Porter ( https://hbr.org/1996/11/what-is-strategy )
- “Knowing who your competitors are?” Niraj Dawar, HBR Press, 2013
- “Michael Porter’s Five ( And a half) Forces” Daniel Mc Ginn ( 2010) https://hbr.org/2010/05/michael-porters-five-and-a-hal
- How to have an honest conversation about your business strategy?” Michael beer, Russel Einstat, 2004 (https://hbr.org/2004/02/how-to-have-an-honest-conversation-about-your-business-strategy)
- “Global Strategy” David J. Collins HBSP 2018, 9 – 712-489
- “Reboot Your Strategy” Special Collection of Articles by MIT Sloan School of Management (https://sloanreview.mit.edu/offers-free-download-reboot-your-strategy/)
- “Blue Ocean Strategy” W. Chan Kim & Renee Mauborgne , 2004 (https://hbr.org/2004/10/blue-ocean-strategy)
NOTE ON Intellectual Property Rights
- HBR and MIT Sloan Review offer free download of limited number of articles.
- During the class professors will assign a number of readings and cases. Students are not allowed to distribute or replicate materials protected with IPR.
- Professor’s presentations can serve as a) an outline of the material and b) reminder of the main topics. However, they cannot replace textbooks and suggested readings.
- ACADEMIC HONESTY
University Tor Vergata cherishes integrity of its students and faculty members. Any form of behavior which may be deemed unethical and or inappropriate for the academic community will be thoroughly sanctioned. Plagiarism and cheating are serious offenses and may be punished by failure on the exam, paper or project and eventually failure in the course.
Usage of generative AI (including but not limited to ChatGPT) without a prior consent of the professor is considered plagiarism.
VIII. COURSE PROGRAM AND TOPICS
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Part I INTRODUCTION |
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Week 1 |
Topics |
Activity |
Source |
Homework case |
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Mon 04/ 11 11-13 h |
The concepts of strategy Introduction, Basic framework, The role of analysis |
Lecture &Class Discussion
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Ch.1[2]
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“Madonna”[3] |
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PART IV BUSINESS STRATEGIES IN DIFFERENT INDUSTRY CONTEXTS |
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Tue 05/11 11-13 h |
Industry Evolution and Strategic Change The Industry Life Cycle; Structure, Competition and Success Factors over the Life Cycle; Organizational Adaptation and Change https://www.businessinsider.com/the-rise-and-fall-of-blockbuster-video-streaming-2020-1 |
Video Case Discussion “Netflix versus Blockbuster”
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Ch.11 |
“Rivalry in video games” |
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Wed 06/11 11-13 h |
Technology Based Industries and Innovation – The importance of AI for Businesses The Innovation Process, The Profitability of Innovation, Protecting Innovation? Strategies to Exploit Innovation: How and When to Enter, To Lead or to Follow? Competing for Standards Managing Creativity from Invention to Innovation: |
Presentations Discussions Intrapreneurship |
Ch.12 |
TESLA” Guest speaker |
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Thu 07/11 11-13 h |
Competitive Advantage in Mature Industries Competitive Advantage in Mature Industries Strategy Implementation in Mature Industries: Structure, Systems and Style; Strategies for Declining Industries |
Discussion about automotive industry Volkswagen in 2024 |
Ch.13 |
“Birds Eye and the UK Food Industry” “ |
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PART II THE TOOLS OF STRATEGY ANALYSIS |
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Fri 08/ 11 11-13 h |
Goals, Values, and Performance Objectives, Strategy as a Quest for Value Putting Performance Analysis into Practice; Values and CSR |
Lecture &Class Discussion; Presentation;
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Ch.2
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Laura Ashley Holdings plc: The Battle for Survival |
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Fri 08/11 14-16 h
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Introduction to Industry analysis From Environmental Analysis to Industry Analysis; Demand and Competition ◆Industry Attractiveness; Porter’s Five Forces of Competition Framework ◆ Applying Industry Analysis Describing Industry Structure; Forecasting Industry Profitability; Positioning the Company; Strategies to Alter Industry Structure |
Lecture &Class Discussion
Presentation
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Ch.3 |
The US Airline Industry |
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WEEK 2 |
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Mon 11/11 11-13 h |
Extended Industry Analysis - Further Topics Extending the Five Forces Framework Does Industry Matter? Complements: A Missing Force; Dynamic Competition: Creative Destruction and Hyper competition ◆ The Contribution of Game Theory - Cooperation Deterrence; Commitment; Changing the Structure of the Game; Signaling ◆ Competitor Analysis’ Competitive Intelligence A Framework for Predicting Competitor Behavior Segmentation Analysis |
Lecture &Class Discussion
Presentation
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Ch 4 |
Ford and the World Automobile Industry |
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Tuesday 12/11 11-13 h
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Analyzing & Developing Resources and Capabilities Basing Strategy on Resources and Capabilities; ◆ The Resources of the Firm; Tangible Intangible Resources; Human resources; ◆ Organizational Capabilities; Classifying & The Nature of Capability ◆ Appraising Resources and Capabilities; Establishing & Sustaining Advantage; PRACTICAL GUIDE: 1 Identify the Key Resources and Capabilities; Step 2 Appraising Them; Step 3 Strategy Implications Developing Resources and Capabilities |
Lecture &Class Discussion
Role Play
Presentation
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Ch5 & Ch.6 |
Wal-Mart Stores Inc
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Eastman Kodak: Digital Challenge |
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Wed 13/11 11-13 h |
Organization Structure and Management Systems: The Fundamentals of Strategy Implementation; The Evolution of the Corporation; The Organizational Problem: Reconciling Specialization with Coordination and Cooperation / Hierarchy, Applying the Principles of Organizational Design. Organizing based on Coordination Intensity. Alternative Structures; |
Lecture &Class Discussion
Presentation Organizer practice Exercise |
Ch.7 |
Org. Restructuring within the Royal Dutch/Shell Group |
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PART III THE ANALYSIS OF COMPETITIVE ADVANTAGE |
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Thu 14/11 11-13 h
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The Nature and Sources of Competitive Advantage The Emergence of Competitive Advantage; Sustaining Competitive Advantage; Competitive Advantage in Different Market Settings; Types of Competitive Advantage: Cost and Differentiation Cost Advantage |
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Ch.8
Ch. 9 |
Harley-Davidson, Inc., Online Broking |
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Friday 15/11 11-13 h |
Strategy as Creation of Differentiation Advantage Introduction and Objectives 246 The Nature of Differentiation and Differentiation Advantage Analyzing Differentiation: The Demand & The Supply Side |
iPhone `Versus Microsoft |
Ch 10 |
“EMI and the CT Scanner” |
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14-16 h |
Organizational Culture and Management Systems Lecture; Test of the model of organizational alignment Case Discussion |
Materials by instructor
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Case: “The end of the world as we know it” |
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Week 3 Break |
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Week 4 PART V CORPORATE STRATEGIES |
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Mon 25/11 11-13 h |
Vertical Integration - The Costs and Benefits of Vertical Integration; |
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Ch. 14
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Tue 26/11 11-13 h |
Globalization (Richard Branson and the Virgin) (Netflix Analyzing Competitive Advantage in an International Context. Applying the Framework: International Location of Production, Foreign Entry Strategies Strategy and Organization within the Multinational Corporation |
Ch. 15 |
Euro Disney: Guest Lecture: CEO of IMLEK
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Wed 27/11 11-13 h |
` Diversification Strategy Trends in Diversification over Time; Motives for Diversification. Competitive Advantage from Diversification.
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Lecture &Class Discussion
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Ch 16 |
General Electric: Life After Jack |
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Thu 28/11 |
Current Trends & Blue Ocean Strategy a new way of looking at the things & and |
Class discussion |
Ch. 18 |
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Friday 29/12 11-13 |
Managing Non for Profits-Case Study “Opportunity International in Eastern Europe” Project presentations |
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Ch1 [4] |
Guest Speaker: Dr. Zoran Kostov, President of O.I. |
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14-16 |
Projects presentation and Wrap UP How will you measure your life |
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Marjan I. Bojadjiev
Contacts: +389 78 35 74 35 (WhatsApp, Viber) https://www.linkedin.com/in/marjanbojadjiev/
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Professor |
Full professor at University American College Skopje, Republic of North Macedonia |
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Visiting Professor at University Tor Vergata, Rome, Italy |
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Education |
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2008 |
Harvard Business School – Specialization in Entrepreneurship |
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2002-2005 |
Ph.D. in Economics, Institute of Economics, Skopje, Macedonia |
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1995-2000 |
M.Sc. in Banking Marketing, Ss. Cyril and Methodius University – Skopje, Macedonia |
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Memberships |
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2020- |
Member of the Board of Directors of the Macedonian Chamber of Commerce |
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2019 – |
Assistant Editor in Chief of the International Journal of Transitions and Innovation Systems |
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2016- |
European Academy of Management (EURAM) |
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2007-2009 |
Vice President, American - Macedonian Chamber of Commerce |
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Awards
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Awarded Teacher of the Year for Baccalaureate/Graduate Programs for ACBSP Region 8 (Europe and Middle East) for year 2012 |
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Patent |
“Vox Organizationis” Patented Model of Organizational Alignment |
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Research publications |
More than 50 research papers, available at http://bojadjiev.info/home/publications/ |
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Certification |
Certified Management Consultant by IMCMI (International Council of Management Consulting Institutes) |
[1] Attending students are those with minimum 60% class presence. The status attending student is valid one year after the class was delivered (i.e. until December 2021)
[2] “Contemporary Strategy Analysis” by Robert M. Grant
[3] Cases to accompany: “Contemporary Strategy Analysis” by Robert M. Grant
[4] 09th Edition