Expert answer:Walden IT company Engagement in Business Strategy

  

Solved by verified expert:Stakeholder engagement can mean the difference between success and failure for a particular project or for an entire organization. Ample research has been presented in the field of business on the benefits of stakeholder engagement in strategy development and management. By developing a foundational understanding of stakeholder engagement, strategic planners can be prepared for challenges and opportunities within an organization.To prepare for this Assignment, consider the following scenario:You are the CEO of a technology firm that is eager to produce innovative products required to perform well against the fierce competition. Your board of directors has requested that you prepare the firm for a new strategic plan that will incorporate dramatic shifts in organizational structure and business unit systems. It is your job to think about how the stakeholders in the organization might respond to these new initiatives. Be sure to consider the information presented in “Case 12: Lincoln Electric: Aligning for Global Growth,” provided in this week’s Required Readings, as well as examples from your professional experience.Submit a 5- to 7-page briefing that details the new strategic plan. Your plan should include the following:The name, mission, and vision of your fictitious companyThe strategy name for the new product launch, including the strategy’s theme or marketing sloganWho in the organization needs to be involved for this strategy implementation to be successfulHow you will communicate to your stakeholders “what’s in it for them” regarding the upcoming initiativesA description of the communication channels you will use as the CEO to ensure the company will gain “buy-in” to this initiative system-wideCase 12: “Lincoln Electric: Aligning for Global Growth” (pp. C-112–C-118)
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STRATEGIC
Personalize
with Your
Notes
MANAGEMENT
CONCEPTS AND CASES
JEFF DYER / PAUL GODFREY
ROBERT JENSEN / DAVID BRYCE
Carry What
You Need
Succeed
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In Praise of Strategic Management
“Exciting, challenging, and well constructed”
KALYAN CHAKRAVARTY, CALIFORNIA STATE UNIVERSITY, NORTHRIDGE
“[The cases] are wide-reaching in terms of topics covered and can easily be used to
illustrate a variety of theoretic concepts from strategy.
I think they are all well-written and well-informed.”
MEREDITH DOWNES, ILLINOIS STATE UNIVERSITY
“Timely strategic issues; I can easily link the cases to the concepts.”
KONGHEE KIM, ST. CLOUD STATE UNIVERSITY
“It is a challenge to engage and show the application of strategy concepts to
undergraduate students. This text…is an effective resource for meeting this challenge.
They combine professional and succinct introductory videos with integrated chapter and
case content to relate information in a way that is accessible to students.”
DAVID KING, IOWA STATE UNIVERSITY
“The authors have found a way to present the strategy concepts in a concise manner
that is easy for modern day students to understand and relate.”
LAKAMI BAKER, AUBURN UNIVERSITY
“Quite an offering of ideas and insights that we want our students to dig in and
reflect upon.”
JOSEPH GOLDMAN, UNIVERSITY OF MINNESOTA
“I appreciate the author’s ability to accurately describe the concepts while not losing
the target audience in the process.”
LUCAS HOPKINS, MIDDLE GEORGIA STATE COLLEGE
“The book, overall, and individual chapters are exactly what I was looking for myself. It is a
fresh breath with contemporary examples and a youthful tone.”
M. NESIJ HUVAJ, SUFFOLK UNIVERSITY
“Good illustration of practical insights… helpful tools for student learning.”
DON OKHOMINA, FAYETTEVILLE STATE UNIVERSITY
“I think students might find the content easy to read and understand.
It might actually make the subject enjoyable for more students.”
MITCHELL ADRIAN, MCNEESE STATE UNIVERSITY
“The greatest strength is the combination of academic rigor and practical, consultinglike approach to strategic management.”
HERVE QUENEAU, BROOKLYN COLLEGE
“This project brings a refreshingly practical perspective to strategy, while not
sacrificing rigor.”
RAM SUBRAMANIAN, MONTCLAIR STATE UNIVERSITY
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“It’s engaging for the students, has hands on strategy tools, and [is] loaded with examples.”
EDWARD WARD, SAINT CLOUD STATE UNIVERSITY
“Practical, applicable, rich with current examples. Well written and more professional
than many.”
KRISTIN BACKHAUS, SUNY NEW PALTZ
“Clearly, the greatest strength is the uniqueness of the information as compared to
other strategy texts.”
BRIAN CONNELLY, AUBURN UNIVERSITY
“A text on strategy written so that students can grasp the concepts better than most
texts I have seen or used.”
DON STULL, TEXAS TECH UNIVERSITY
“My students embraced the contemporary examples utilized in the text, which help
to explain concepts, the interesting and focused approach of the timely cases and
the animated videos, which help explain the concepts. The text, the cases, and the
accompanying animated videos provide effective approaches to support the different
learning styles of the students.”
JAMES GLASGOW, VILLANOVA UNIVERSITY
“Excellent text. A great combination of conceptual material and business practices on
Strategic Management for students in today’s global economy.”
PETER PINTO, BOWLING GREEN STATE UNIVERSITY
“The Dyer book is one of the best written I’ve seen, accessible to students and having
great explanations. It also has cool animations.”
JIM WEBER, ST. CLOUD STATE UNIVERSITY
“The text clearly stands out for its concise approach to strategic business
concepts. Illustrative graphs and charts compliment the straight-forward,
interesting information.”
JACK HOPKINS, CLEMSON UNIVERSITY
“My students are pleased with the “real world,” be it examples or cases.
They also appreciate the straight-forward approach of the authors. I concur with
both observations and agree that “straight talk” and reality definitely create value in
the classroom.”
RICK SMITH, IOWA STATE UNIVERSITY
“Perhaps the top benefits…are the innovative support materials. For example, the
animated videos are a great way to wrap-up each lecture.”
DAVID GRAS, TEXAS CHRISTIAN UNIVERSITY
“This text provides excellent in-class exercises that provide hands on demonstration of
strategic management concepts.”
GEORGE MASON, PROVIDENCE COLLEGE
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STRATEGIC
MANAGEMENT
C O N C E P T S A N D T O O L S F O R C R E AT I N G R E A L W O R L D S T R A T E G Y
JEFF DYER
Brigham Young University, Marriott School
PAUL GODFREY
Brigham Young University, Marriott School
ROBERT JENSEN
Brigham Young University, Marriott School
DAVID BRYCE
Brigham Young University, Marriott School
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VICE PRESIDENT & DIRECTOR George Hoffman
EXECUTIVE EDITOR Lisé Johnson
SPONSORING EDITOR Jennifer Manias
MARKET SOLUTIONS ASSISTANT Amanda Dallas
FREELANCE EDITOR Susan McLaughlin
EDITORIAL OPERATIONS MANAGER Yana Mermel
SENIOR CONTENT MANAGER Dorothy Sinclair
SENIOR PRODUCTION EDITOR Suzie Chapman
PRODUCT DESIGN MANAGER Allison Morris
DESIGN DIRECTOR Harry Nolan
SENIOR DESIGNER Thomas Nery
SENIOR PHOTO EDITOR Billy Ray
DIRECTOR OF MARKETING Amy Scholz
EXECUTIVE MARKETING MANAGER Christopher DeJohn
FREELANCE MARKETING SPECIALIST Kelly Simmons
This book was set in 10/12 Kepler by SPi Global and printed and bound by Courier. The cover was printed by
Courier.
This book is printed on acid free paper.
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ISBN 9781118976586 (Prelim)
ISBN 9780470937389 (BRV)
ISBN 9781119134756 (EVALC)
ISBN 9781119134763 (Concepts BRV)
Library of Congress Cataloging-in-Publication Data
Dyer, Jeff (Professor of Strategy)
Strategic management / Jeff Dyer, Paul Godfrey, Robert Jensen, David Bryce.
1 online resource.
Includes index.
Description based on print version record and CIP data provided by publisher; resource not viewed.
ISBN 978-1-119-13495-4 (epub)—ISBN 978-0-470-93738-9 (looseleaf) 1. Strategic planning. I. Title.
HD30.28
658.4’012—dc23
2015021543
Printed in the United States of America
10 9 8 7 6 5 4 3 2 1
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About the Authors
JEFF DYER (Ph.D., UCLA, 1993) is the is
the Horace Beesley Professor of Strategy
at the Marriott School, BYU where he
serves as Chair of the Department of
Organizational Leadership and Strategy.
Before joining BYU, Dr. Dyer was a
professor at the University of Pennsylvania’s
Wharton School where he maintains an
adjunct professor position and continues
to teach Executive MBAs. Dr. Dyer’s has considerable consulting
experience, having spent 5 years working as a strategy consultant
and manager at Bain & Company, where he consulted with such
clients as Baxter International, Kraft, Maryland National Bank,
and First National Stores. Since then he has been a consultant,
speaker, or trainer for a variety of companies, including Adobe,
AT&T, Cisco, General Electric, General Mills, Gilead Sciences,
Harley-Davidson, Hewlett Packard, Intel, Johnson & Johnson,
and Sony. Dyer is the only strategy scholar in the world to have
published at least five times in the Harvard Business Review and
five times in Strategic Management Journal, the top academic
journal in the strategy field. In 2012, he was ranked the world’s
#1 “most influential” management scholar among scholars who
completed their Ph.D.s after 1990. This ranking, published in
Academy of Management Perspectives, was based upon an equal
weighting of academic citations (academic influence) and
non-“.edu” Google searches (business influence). His recent
book, The Innovator’s DNA, is a business best seller and has been
published in 13 languages, and his new book, The Innovator’s
Method, has already hit top 10 business bestseller lists.
PAUL C. GODFREY (Ph.D., Washington,
1994) currently serves as the William and
Roceil Low Professor of Business Strategy
in the Marriott School of Management at
Brigham Young University. Paul teaches
classes to BYU undergraduates, as well as
MBA and Executive MBA students, and
he was honored in 2013 with the Marriott
School’s Teaching Award. His research has
appeared in the Academy of Management Review, the Strategic
Management Journal, the Journal of Business Ethics, and the
Journal of Management Inquiry. He has recently published a
book on eliminating poverty with Stanford University Press.
He has also co-edited two other books and served as a special
issue editor for two academic journals. He currently serves as
Associate Academic Director of the Economic Self-Reliance
Center at the Marriott School, and he has been working with
Habitat for Humanity of Utah County for the past 18 months
in refining their strategic plan. Paul received his MBA and PhD
degrees from the University of Washington and a Bachelor of
Science degree in Political Science from the University of Utah.
ROBERT J. JENSEN (Ph.D., Wharton,
2006) serves as the Whitman Faculty
and Peery Research Fellow Associate
Professor of Strategy and International
Business at the Marriott School, BYU.
Robert teaches undergraduate classes
in Strategy and Global Strategy and
Master’s Degree classes in Strategy.
He has published in many of the top
management journals, including Strategic Management
Journal, Organization Science, Management Science,
and the Journal of International Business Studies (where
he currently serves on the editorial review board). His
professional awards include the McKinsey & Company/
SMS Best Conference Paper prize, honorable mention;
finalist for both the Blackwell Best Dissertation Prize from
the Academy of Management, and the William H. Newman
Best Paper from a Dissertation award, and runner up for
the Booz Allen Hamilton/SMS Ph.D. fellowship. His work
was honored as the best paper published in Competitiveness
Review in 2009, and his papers have been selected seven
times for the best paper proceedings of the Academy of
Management.
DAVID J. BRYCE (Ph.D., Wharton, 2003)
is Associate Professor of Organizational
Leadership and Strategy at the Marriott
School of Management and has been
an adjunct Associate Professor of
Management at the Wharton School
where he has taught strategy in the MBA
program for executives. David earned a
Ph.D. in strategy and applied economics
from the Wharton School and is author on a number of
thought-leading articles for senior executives, including
articles in the Harvard Business Review. He conducts
research in the area of corporate strategy and has published
in top academic journals such as Management Science and
Organization Science. For more than 20 years, he has served
as consultant on important strategic challenges to executives
of start-ups, mid-market companies, and major corporations,
including Eli Lilly, Prudential, Procter & Gamble, Microsoft,
Johnson & Johnson, and the LG Group. He has worked with
clients on enterprise strategy, new market entry, branding,
pricing, positioning, and growth. He has also conducted
many strategy-oriented leadership training sessions over the
past 10 years within the Fortune 50, including extensively
at Microsoft. Prior to his academic career, he held partner,
vice president, and other senior positions at several global
management consulting firms.
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Page viii
Preface
Why does the world need another strategy textbook? The answer is that we simply have
not been able to find a textbook that we felt fully met the needs of our students. What are
those needs? First, we wanted to write a textbook that would engage students’ interest
using numerous practical examples and tools that would help them actually DO analysis to
answer key strategic questions.
For example, leading firms and strategy consulting firms have tools to teach strategists
how to actually conduct a “5 Forces” analysis, calculate a scale or experience curve, or conduct a net promoter score analysis. We wanted to provide those tools. We also wanted to
create interactive learning tools that would connect with a new generation of learners. This
meant we needed to provide interactive digital learning experiences such as the “white
board” animated videos that we have created to support our textbook. When students are
more engaged, they learn more—and they enjoy it more! Not surprisingly, this increases
student satisfaction with the course and the professor.
As we looked at how we could create an enjoyable and engaging strategy course learning
experience, we realized as an author group that we were somewhat uniquely qualified to
create that type of experience. Why? Because we collectively have over 13 years of full-time
management consulting experience at top consulting firms.
Why does this matter? Because we have practical experience applying strategy concepts
and tools to real companies—practical experience that we have embedded in this textbook.
Perhaps just as important, we know how to write to a management audience, having published three books targeting a practitioner audience, seven articles in Harvard Business
Review, and another four articles in Sloan Management Review. Perhaps most important
is the fact that we’ve tested the text, cases, video animations, and strategy tools with large
groups of business students at BYU and Wharton over the past 10 years—with remarkable
results. Average student satisfaction ratings have been 6.6/7.0 across multiple instructors
for strategy courses using our materials. The bottom line is that we see better student satisfaction and higher teaching ratings because of using this material. In just the past year,
we have class tested Strategic Management at over 40 institutions with over 900 students. In
exit surveys, 76% of students rated the experience as positive or very positive. A few of their
quotes are in the margin below.
Key Book Differentiators
Because this is a strategy book, we should tell you that our strategy in writing this book is to
offer unique value. The key differentiators of this book can be summarized with the acronym
TACT—Text, Animated Executive Summary Videos, Cases, and Tools.
MY FAVORITE ASPECT WAS THE EXAMPLES
USED TO EXPLAIN THE CONCEPTS.
IT REALLY HELPED ME UNDERSTAND THE
MATERIAL.
–BILL BOCHICCHIO, STUDENT,
VILLANOVA UNIVERSITY
THE WHITEBOARD ANIMATIONS WERE
VERY ENTERTAINING AND HELPED
EXPLAIN SOME OF THE CONCEPTS IN
REAL LIFE SITUATIONS.
–CAMERON LANDRY, STUDENT,
MCNEESE STATE UNIVERSITY
1
Text. Each of our chapters is written in an accessible Harvard Business Review style
with lots of practical examples, and each chapter is roughly 20 percent shorter than
the chapters of the average strategy textbook. You can assign the whole chapter (not
just a few pages) and feel confident that your students will not perceive it as a waste of
time. This is not to say that we haven’t included core strategy concepts, frameworks, and
theories. They are all there.
Animated Executive Summary Videos. Each chapter is accompanied by at least one
8-10 minute animated video that brings the content to life. Today’s students love to learn
through interactive technology, and student response to our animated videos has been
positively off-the-charts. Research shows that student recall increases by more than 15
percent when material is presented with a white board animation versus a typical talking
head lecture.1 These animated videos allow you to flip the classroom. When students
Study by Richard Wiseman. Available at http://www.sparkol.com/blog/how-scribe-videos-increase-your-studentslearning-by-15/
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PREFACE
Page ix
[ ix ]
view the videos before class, they get the core concepts in a memorable way. Then you
have more time to discuss questions and help them deeply understand and synthesize
the concepts and tools.
Cases. We will admit that differentiating cases isn’t easy, but we think we’ve done a
few things to make using our cases easier. Our cases offer new, shortened, and updated
“classic” cases on familiar companies (e.g., Walmart, Coke and Pepsi, Intel, Southwest,
Nike, etc.). If you build your course around these cases, you’ll experience very low
switching costs moving to our book. We’ve also written cases on companies and topics
that millennials gravitate to such as Amazon, Harley-Davidson, Skype, Netflix/Redbox/
Hulu, Samsung, and the AT&T-Apple alliance.
We also provide brief Case Notes and PowerPoint presentations to summarize key
takeaways for each case.
THE CASES WERE MY FAVORITE
PART—UNDERSTANDING REAL
WORLD EXAMPLES HELPED PUT
THINGS INTO PROPER PERSPECTIVE.
Tools. Almost every chapter will offer a “Strategy Tool” to teach students how to apply
a theory, framework, or concept. Students will feel like they have learned how to DO
something—actually conduct analysis that will help with strategic decisions. Some of
these tools are used in Fortune 500 companies and in strategy consulting firms such as
Bain, BCG, and McKinsey when they do strategy analysis for clients. For example, the
book shows the student how to assess the attractiveness of an indu …
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