Business Policy

UNIVERSITY COLLEGE DUBLIN NATIONAL UNIVERSITY OF IRELAND, DUBLIN MASTER OF SCIENCE (SINGAPORE) Business Policy BMGT 4025S STUDY GUIDE MSc14/15 FT / Singapore Copyright October 2012 1 Author: Dr Yousef Eiadat and Dr Richard Tan (2012) This manual was prepared for University College Dublin as a comprehensive support for students completing the above mentioned Degree programme.  © This publication may not be reproduced, in whole or in part without permission in from University College Dublin. Module Co-ordinator: Dr Yousef Eiadat & Dr Richard Tan Contact details Mobile: TBA Office: TBA Email: [email  protected] om. sg 2 TABLE OF CONTENTS PAGE Welcome message 1. INTRODUCTION a. Background details b. Module aims 2. MODULE OUTLINE a. Module learning outcomes b. Themes and topics c. Learning supports 3. MODULE DELIVERY SCHEDULE a. Session arrangements b. Student engagement c. Office hours arrangements 4. ASSESSMENT DETAILS a. Assignments b. Module assessment components i. Pre module ass ignment ii. Group project iii. Examination 5. GRADING a. University grading policy b. Grade descriptors for assessment components 6. CONCLUDING COMMENTS APPENDICES 5 6 10 12 16 19 21 3Welcome message Welcome to this unit on Business Policy. Dr Yousef Eiadat will be joining me in teaching this course. In this unit we aim to build skills in Strategic planning – the analysis behind strategic decisions, the crafting of strategies and the implementation of them to ensure organisational success. Strategy involves managing the interface between an organization and its external environment. To this end, the first three topics develop skills in strategic analysis, leading to consideration of the positioning of an organisation in its strategic environment.These cover internal and external analysis, and the options in setting strategic direction. This analysis is critical to successful strategy because success depends upon finding the right fit between the strengths and weaknesses of th e internal workings of the organisation and the opportunities and threats in the external environment. We will spend time ensuring that you can apply the main tools and techniques to the real world situation outlined cases. Should you require clarification on any matter pertaining to the module, please do not hesitate to contact me.Dr Yousef Eiadat Dr. Richard Tan Module coordinator, BMGT4008S 4 PART 1: INTRODUCTION This Study Guide is designed to provide you with details of the module (Business Policy, BMGT4025S), the learning outcomes, delivery and assessment arrangements. The Study Guide consists of 6 parts Part 1 gives background details to the subject area are provided and the broad aims of the module are set out. Part 2 consists of the module outline. In this part the (a) module learning outcomes, (b) the themes and topics to be explored are explained along with the (c) learning supports to be used.Part 3 gives details of the module delivery arrangements. It sets out the sessi on arrangements and the expectations in relation to your prior preparation and student engagement. Part 4 provides details of the assessment techniques used in this module explaining the assessment components, their rationale. Part 5 explains the UCD grading policy and grade descriptors drawing on the university document are given for each assessment component (i) Pre-module assignment, (ii) Main Assignment and (iii) Examination (closed book). Part 6 presents the concluding comments. a.Background to the Topic Strategic management is predominantly focused on creating effectiveness – it is concerned with the long-term compatibility between an organisation and its relevant external environment. Good strategies also create organizational flexibility. Managing the interface between the external environment and the organisation requires it to become flexible enough to respond to environmental changes. Strategic mistakes come from misinterpreting environmental trends or not reacting rapidly enough to changed industry conditions. The knowledge has a dramatic impact on a firm’s success. b.Module Aims The aim of this module is to provide students with an overview of the theory and practice of strategic management. The module is designed to deepen your awareness and 5 understanding of the factors that contribute to effective management of enterprises – large and small. The theory underpinning the firm and MNE is assessed and students are encouraged to develop an ability to critically evaluate its applicability in today's world. Among the topics covered on this course include: Theory and practice of business management. Theoretical developments are also evaluated for their relevance for the international manager.Key management issues and techniques related to business competitiveness. This includes varies variables that influence a firm’s competitiveness, role of culture, sourcing, doing business in specific regions in Pacific Rim etc. The modu le draws on the student’s prior learning and work experience, and combines insights from IB, Human Resource Management and other areas. The assessments have been designed with this in mind as detailed later in the study guide. PART 2: MODULE OUTLINE Module Title: Business Policy Module Code: BMGT 4025S No. of ECTS: 10 ECTS Learning Outcomes I.Undertake environment scanning processes and critically assess the impact on the organisation and their strategy. II. Identify and critically assess the significance of cultural issues on business and to critical evaluate the appropriate strategies to gain maximum competitive advantage. III. Critically assess the theoretical underpinnings of principal concepts, frameworks, and techniques of strategic management and describe the variety of factors that influence a firm's success. IV. Explain the strategic options available to firms in growth strategies and analyse the forces that affecting this decision.V. Identify emerging issues in mana gement. On completing the Business Policy module, students will be expected to be able to: i. Assess the potential of different strategies in the context of different cultures, risks and uncertainties. 6 ii. iii. iv. Expand on the complexities of Business. Identify business issues confronting companies planning to expand internationally. Illustrate how companies compete in markets. Module Text: Jones, G. R. , Hill, C. W. L. (2011), â€Å"Theory of Strategic Management with Cases†, International Edition, 10th Edn. Cengage.Learning Materials For this module, please read the assigned chapters in the prescribed text and the additional readings assigned (see list below). I. Hanson, D. , Dowling, P. , Hitt, M. , Ireland, D. , and Hoskisson R. , (2011), â€Å"The Management of Strategy Concepts†, 9th edn, Thomson Learning. II. Brooks, J. Weatherston and G. Wilkinson, (2011), The International Business Environment: Challenges and Changes, 2e Other useful sources: I. Academy of Management Journal II. Strategic Management Journal III. Journal of Marketing IV. European Journal of Marketing V. The Wall Street Journal VI.The Financial Times Students completing the International Business module are expected to participate in session discussions and learning activities and be familiar with recent developments in the business world. To facilitate this, the following source material is useful 1. The Economist 2. The South China Morning Post 3. The Straits Times 4. The Financial Times 5. Business Week 7 6. Fortune PART 3: MODULE DELIVERY SCHEDULE The module delivery relies on students’ ability to engage in prior preparation, to seek confirmation and clarification as appropriate and to be actively engaged during the sessions.Session Arrangements Each student is expected to attend and be prepared for all sessions. Table 1 below outlines the structure for the sessions. Table 1: Module Delivery Schedule – themes, readings, cases No. Theme /Topic title Te xt chapters articles/ Readings* Case / exercise TBA in lecture 1 1 Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage. Chap. 1 Dr Yousef Eiadat 2 External Analysis: The Identification of Opportunities and Threats. Chap. 2 Dr Yousef Eiadat 3 Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability.Chap. 3 Dr Yousef Eiadat 4 Building Competitive Advantage Through Functional-Level Strategy. Chap. 4 Dr Yousef Eiadat 5 Building Competitive Advantage Through Business-Level Strategy. Chap. 5 Dr Yousef Eiadat 6 Business-Level Strategy and the Industry Environment. Chap. 6 Dr Yousef Eiadat 8 7 Strategy and Technology. Chap. 7 Dr Richard Tan 8 Strategy in the Global Environment. Chap. 8 Dr Richard Tan 9 Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing. Chap. 9 Dr Richard Tan 10 Case Presentation/discussionTBA Dr Richard Tan 11 Corporate-Level Strategy: Formulating and Implementing R elated and Unrelated Diversification. Chap. 10 Dr Richard Tan 12 Corporate Performance, Governance, and Business Ethics. Chap. 11 Dr Richard Tan 13 Implementing Strategy in Companies that Compete in a Single Industry. Chap. 12 Dr Richard Tan 14 Implementing Strategy in Companies that Compete Across Industries and Countries. Chap. 13 Dr Richard Tan 15 Exam revision Dr Richard Tan 16 * Some chapters in the text are assigned for more than one theme. 9Preparation Required in Advance of Sessions / Seminars In addition to the pre-course assignment, you are expected to have read the following topics in advance of meeting the module coordinator / course lecturer at the seminars. Student Engagement During the sessions, students are expected to be able to discuss issues arising from the assigned chapters and readings for the topics as scheduled above. Session participation is a vital element in the design of this module. Therefore, all students are expected to engage in class discussion and d ebate in order to facilitate the formation of their critical judgements.To support your learning, Power-Point slides will be available which (on certain occasions) may need to be upgraded / modified during or following the sessions depending on the issues raised. Office Hours We will be available before and after each class session, should you wish to meet us individually to discuss any aspect of this module. PART 4: ASSESSMENT DETAILS Assessment is undertaken to establish the extent of student learning on completing a module and according to Biggs and Tang1 (2009) it is the senior partner of teaching and learning.This module has three assessment components with specific weightings and marks awarded totalling 1002. The purpose of each assessment is as follows: †¢ Assessment 1 (the Pre-Course Assignment) aims to introduce and appraise International marketing in the world setting. It is also designed to focus your learning in preparation for the face to face sessions. †¢ Ass essment 2 (Assignment) is designed to critically appraise issues in Business policy, International strategy and formulate strategies. Biggs, J. and Tang, C. 2009, Teaching for Quality Learning at University, Maidenhead: Open University/McGraw Hill. As the Overseas Programme modules are worth 10 ECTS they should be graded out of 200 marks. 1 10 †¢ Assessment 3 (Examination) is the formal examination, which aims to get insights on your understanding of issues (theory and practice) addressed in the module. Students are expected to complete all assignments ensuring that they are submitted by the specified date. All submissions must be typed, be well laid out, written in an academic style with appropriate headings (introduction, main part and concluding comments) and sections.Please ensure that all submissions are entirely your own work – for UCD’s policy on plagiarism click on the link below (please see Appendix 2 for further information on Plagiarism and the policy o n the Late Submission of Coursework): http://www. ucd. ie/registry/academicsecretariat/plag_pol_proc. pdf The weighting assigned for each component is shown in Table 2a below. (* I = Individual; G = Group) Table 2a – Assessment Components Assessment components 1. Pre-module Assignment 2. Assignment 3. Examination Weighting 10% 40% 50% I / G* I I I Table 2b – Assessment datelines Assignment Deadlines Pre Course Assignment (PCA) Main Assignment (MA)Date Assignment Due 29 Oct 2012 30 Nov 2012 11 Module Assessment Components In the following pages, further details of each assessment component are presented along with expectations in relation to prior preparation and completion. 1. Pre-Module Assignment Assignment: Case analysis This assignment is a case analysis. Students are to answer the following case questions. Case 1: Wynn Resorts (Print) Q1: What are Wynn Resorts’ distinctive resources and competencies? Q2: What is the industry structure in which in which Wynn Resorts operates? Case 2: APPLE in 2008 (Print) Q1: Historically, what were Apple’s major competitive advantages?Q2: Using Porter’s five forces model how has the structure of the personal computer industry changed over the last 20 years? Assignments Guidelines: This is an individual assignment. The aims is to introduce and appraise International business in the world setting This is an essay discussion paper. As an essay, your work must not contain any headings (other than the question itself), graphs or illustrations. The report should have a cover and its main discussion shall not exceed six (6) pages. The cover page shall contain the student’s number and full name, and the title of this course.The report shall be in plain white paper and stapled on the top lefthand corner, no file is required. Font – Times New Roman or Ariel 12 pts and line spacing is 1. 5. A good quality work will requires: o o o o o Evidence of wide & relevant (and correctly referen ced) reading and research; Presentation of a balanced and well considered argument; Originality; Knowledge and understanding of key concepts; Analysis and level of argument, Good use of appropriate frameworks, theory or models; Good understanding of the advantages and disadvantages of models used; 2 o o A logical conclusion fitting the arguments presented and, Demonstration of a clear and concise writing style. Please see page 18 for assessment and grading standards. Students should familiarize themselves with the University’s policy on the late submission of coursework. This Pre Course Assignment (PCA) must be submitted in hard copy. See the PCA deadline in table 2B above. Please read the Grade Descriptors in the PCA Grade Descriptor table. 2.Main Assignment: Case analysis Assignment: Case analysis This assignment is a case analysis. Students are to answer the following case questions. Case 16 – Alarm Ringing: Nokia in 2010 (in textbook). 1. Describe Nokia’s vi sion and mission for its organization and how was it implemented? What suggestions can you provide (if any) that would or would have strategically positioned them in a competitive market? 2. Using the competitive forces model, what alarms should Nokia have identified in their strategic pursuits? 3.In Nokia’s current situation, what strategy and techniques do you suggest to better position them for future growth? 4. What should Nokia have done to compete technologically? 5. What generic business level strategy should Nokia pursues today? What actions the company have to take at the functional level to support this strategy? 6. Nokia when into a strategic alliance with Microsoft, explain what possible competitive advantages could Nokia gain from this relationship. What is Nokia’s new competitive positioning. 13Assignments Guidelines: This is an individual assignment. The aim is to critically appraise issues in Business and corporate level strategies formulation for the f irm. The report should have a cover, content and its main discussion shall not exceed twenty (20) pages. The cover page shall contain the student’s number and full name, and the title of this course. The report shall be in plain white paper and stapled on the top left-hand corner, no file is required. Font – Times New Roman or Ariel 12 pts and line spacing is 1. 5.A good quality work will requires: o o o o o o o Evidence of wide & relevant (and correctly referenced) reading and research; Presentation of a balanced and well considered argument; Originality; Knowledge and understanding of key concepts; Analysis and level of argument, Good use of appropriate frameworks, theory or models; Good understanding of the advantages and disadvantages of models used; A logical conclusion fitting the arguments presented and, Demonstration of a clear and concise writing style. Please see page 18 for assessment and grading standards.Students should familiarize themselves with the Univ ersity’s policy on the late submission of coursework. This Main Assignment must be submitted to your Programme Manager in hard copy. See the deadline in table 2B. Please read the Grade Descriptors in the Main Assignment Grade Descriptor table. 14 4. Examination: 5. The examination (3 hours) will focus on module themes and the material covered in the text, cases, assigned readings, videos and class discussions. For this, students are expected to demonstrate their understanding of theory and practice addressed throughout the module.The examination question format will be designed to allow you show your understanding of the topics discussed and also reveal your learning (new and prior). More specific guidelines regarding the examination paper format and questions will be provided during the final session. 6. Students will have the opportunity to ask questions about its design and style and be advised the type of answers expected. 7. A recent past examination paper is included in Appendix 3 of this Study Guide, please be prepared for slightly different style of question PART 5: GRADINGThis section of the Study Guide provides students with details of the UCD grading system and also explains criterion referenced grading (UCD Policy). Under criterion referenced grading, students are graded on the quality of their work without reference to other students (norm referenced). For instance, the submission that meets the required guidelines in terms of writing style, analysis, description and / or summary will be awarded according to the standards set out. All students’ work is graded to indicate the standard attained using the criterion referenced approach.Table 3: UCD Grading System Grade A+ A AB+ B BC+ Very good Excellent Description Grade Point 4. 2 4. 0 3. 8 3. 6 3. 4 3. 2 3. 0 15 C CD+ D DE F G Good 2. 8 2. 6 2. 4 Acceptable 2. 2 2. 0 Marginal Fail (unacceptable, no compensation) Fail (Wholly unacceptable; no compensation) 1. 6 1. 0 0. 4 NG Fail (Wholly unacceptable; no relevant attempt) 0. 0 More specific grade descriptors are set out for your assessment components in the following pages. Table 4 below provides descriptors for the Pre-Module Assignment – please read them prior to submitting your work.Table 4: Grade Descriptors – Pre-Module Assignment Grade Criteria Paper is exceptionally well searched. Extremely detailed and accurate with critical evidence A3 from a wide variety of sources that is all properly cited. Strong evidences of wide & relevant originality, knowledge and understanding of key concepts, analysis and level of argument. Exceptionally critical, relevant and consistent connections made between arguments, evidence, subtopics, showing excellent analysis. Presentation of a balanced and well considered argument.Demonstration of a clear and concise writing style. Paper is well researched in detail with accurate & critical evidence from a variety of sources B that is properly cited. Evidences of wide & relevant originality, knowledge and understanding of key concepts, analysis and level of argument. Consistent connections made between While the criteria detailed above refer to A – D grades (inclusive) only, please note that all bands will be used (A+, A and A-; B+, B and B- etc) for grading assignments. 3 16 vidence, subtopics, arguments & thesis / topic showing good analysis Some aspects of paper is researched with some accurate evidence from limited sources with C some citations. Some connections made between evidence, subtopics, arguments & thesis / topic showing analysis. -limited information on topic with lack of research, details or accurate evidence D -limited connections made between evidence, subtopics, counterarguments & thesis / topic -lack of analysis Table 5: Grade Descriptors – Main assignment Grade Criteria Paper is exceptionally well searched.Extremely detailed and accurate with critical evidence A4 from a wide variety of sources that is all properly cited. Strong evidences of wide & relevant originality, knowledge and understanding of key concepts, analysis and level of argument. Exceptionally critical, relevant and consistent connections made between arguments, evidence, subtopics, showing excellent analysis. Presentation of a balanced and well considered argument. Demonstration of a clear and concise writing style. Paper is well researched in detail with accurate & critical evidence from a variety of sourcesB that is properly cited. Evidences of wide & relevant originality, knowledge and understanding of key concepts, analysis and level of argument. Consistent connections made between evidence, subtopics, arguments & thesis / topic showing good analysis Some aspects of paper is researched with some accurate evidence from limited sources with C some citations. Some connections made between evidence, subtopics, arguments & thesis / topic showing analysis. -limited information on topic with lack of research, details or accurate evidence D limited connections made between evidence, subtopics, counterarguments & thesis / topic -lack of analysis While the criteria detailed above refer to A – D grades (inclusive) only, please note that all bands will be used (A+, A and A-; B+, B and B- etc) for grading assignments. 4 17 NB All students are advised to read the UCD Business School Code of Practice for Group work – see Appendix 1. TABLE 6: Grade Descriptors – Formal Closed Book Examination Grade Characteristics Answers are extremely detailed and accurate with critical evidence from a wide variety of sources.Strong evidences of wide & relevant knowledge and understanding of key A concepts, analysis and level of argument. Exceptionally critical, relevant and consistent in addressing the question and made between arguments, evidence, subtopics, showing excellent analysis. Presentation of a balanced and well considered argument. Demonstration of a clear and concise writing style. Answers have goo d detail with accurate & critical evidence from a variety of sources. Evidences of wide & relevant originality, knowledge and understanding of key concepts, B nalysis and level of argument. Consistent in addressing the question and made between arguments, evidence, subtopics, showing good analysis. Demonstration of a clear and concise writing style. C Some aspects of answers have good detail with some accurate evidence from limited sources. Address some aspect of the question and made between arguments, evidence, subtopics, showing good analysis. -limited information on topic with lack of details or accurate evidence. D -limited connections made between evidence, subtopics, counterarguments & thesis / topic. lack of coherent analysis. PART 6: CONCLUDING COMMENTS This Study Guide is designed to assist and guide your learning for this module. It is important that you read it regularly and do so in conjunction with the core text, the assigned readings and session materials. Should you need clarification on issues covered, please let me know during the seminar sessions. I hope you enjoy the module and wish you good luck with the rest of your study and for the future. 18 Name of Module Co-ordinator, Dr. Richard Tan Date: Oct 2012 19 APPENDIX 1:You are advised to read the following important documents before you commence your studies on this module: 1. Guidelines for the Late Submission of Coursework This document provides a detailed outline of the rules and regulations surrounding the presentation, submission and marking of assignments. The guidelines provided must be adhered at all times to avoid an unnecessary loss of marks. Further details on www. ucd. ie/registry/academicsecretariat/late_sub. pdf 2. A Briefing Document for Students on Academic Integrity and Plagiarism.The University understands plagiarism to be the inclusion of another person’s writings or ideas or works, in any formally presented work (including essays, theses, examinations, projects, l aboratory reports, oral, poster or slide presentations) which form part of the assessment requirements for a module or programme of study, without due acknowledgement either wholly or in part of the original source of the material through appropriate citation. Further details please go to www. ucd. ie/registry/academicsecretariat/plag_pol_proc. pdf Plagiarism is a form of academic dishonesty.In any assignment, plagiarism means that you have presented information or ideas belonging to someone else falsely as being your own original thoughts on a subject. All assessments/projects submitted must be the result of your own work. The following statement must be included on the cover page of all assignments submitted: I declare that all materials included in this essay/report/project/dissertation is the end result of my own work and that due acknowledgement have been given in the bibliography and references to ALL sources be they printed, electronic or personal. Signed: Student name/s, stu dent number Date: 0 APPENDIX 2: Note to Students: Providing a copy of this paper does not signify that future papers will follow the exact same format. SEMESTER I EXAMINATION 210 Academic Year – 2009/10 MASTER OF SCIENCE (Singapore) MSc9/10 Full-Time BMGT 4025S Business Policy Professor John Benson Professor Brian Fynes Dr. Paul McGrath Professor Pat Gibbons* Mr. Richard Tan* Time Allowed: 2 Hours Instructions for Candidates Answer any TWO (2) questions. All questions carry equal marks. 21 Question 1 Write an essay explaining the concept of the Resource-based view in strategic planning and formulation.In your discussion explain and emphasise how resources and capabilities can lead to a competitive advantage. Also illustrate the five-steps describing the linkages between resource identification and strategic decisions that will lead to above-average returns. Illustrate your answer with reference to the Apple case study or from your group project. Question 2 In September 2001, two leading players in the global computer industry – Hewlett-Packard Company (HP) and Compaq Computer Corporation (Compaq) – announced their merger.HP bought Compaq for US$ 24 billion in stocks and it was the biggest deal in the history of the computer industry. However, the acquisition strategy to achieve strategic advantage and competitiveness did not succeed and the performance of the merged firms suffered. Identify and explain the reasons for HP’s decision to acquire Compaq. In your discussion provide insights as to the likely reasons for the poor performance after the firms merged. Question 3 When Apple launched its iPhone into the mobile phone market, many competitors responded and attacked. Describe and discuss why Apple was attacked by competitors.In your discussion you should consider and explain the concept of market commonality and resource similarity that increases the likelihood of an attack. Also offer insights into Apple’s competitor aware ness, motivation and ability that increases the likelihood of strategic action against others. Question 4 Strategic alliance is a primary type of cooperative strategy. This is an alternative strategy a firm could use to grow, develop value-creating competitive advantages, and create differences between them and competitors. Write an essay and explain in detail the 3 main types of strategic alliances.In addition, offer insights into the benefits for a firm entering into an alliance in the slow, fast and standard-cycle markets. Illustrate your discussion with any other examples you feel to be relevant. Question 5 Write an essay that explains in detail the concept of cost leadership strategy as a competitive strategy. In your discussion, explain and provide insights into the cost reduction strategies a company can adopt in order to achieve cost leadership within a strategic group. 22 Illustrate your answer with reference to competitive strategies in the Personal computer industry (Acer , Dell, etc) oOo 23