478 MGMT MGMT
STRATEGIC MANAGEMENT
YASEMIN Y. KOR
Yasemin Y. Kor
Education
Ph.D., University of Illinois at Urbana-Champaign M.B.A., University of Illinois at Urbana-Champaign B.S. in Business Admin., METU, Ankara, Turkey
Work experience
Stock portfolio management, Is Bank A.S., Turkey Product management, Paul Hartman A.G., Germany Assistant to Associate Professor at University of Delaware
(2000-2007) Associate Professor at USC (2007present)
Yasemin Y. Kor
Research expertise
(1) New capability development and interconnectedness of resources and capabilities, (2) Managerial (team) competence, attributes, and belief systems, and the evolution of firms strategy, and (3) Board governance effects (composition, competence, and process) on the executive team characteristics and the evolution of firms strategy. I enjoy doing research in a variety of contexts including large (multinational) firms, entrepreneurial firms, technology firm, and firms with sustainable business models and products.
Teaching experience
Strategic Management & Corporate Strategy Entrepreneurship
How can you reach me?
E-mail: [e-mail] Office: BA 766 (Management Department) Office hours: Tuesday/Thursday 1:15pm-1:45pm and 3:30pm4:00pm (or by appointment).
BUAD478 Strategic Management
Capstone class: integration and total business perspective
Functional Areas
Accounting (e.g., activity-based accounting) Finance (e.g., capital structure, cash flows) Marketing (e.g., product, place, promotion, price) Human Resources and Organization Behavior Operations Management (e.g., facilities, capacity)
Howdothesefunctionsfittogether?
Strategy Relates a Business to Itself and Its Competitive Environment
CompetitiveEnvironment
Technology Finance Industry Environment
Government Regulation
Mktg.
Strategy
Oper.
National/ IntlEconomies
Acctg. Other Competitors
H.R.
Related Industries
General Managers Perspective
Ability to see the BIG PICTURE
Where is the industry headed? Where is the firm headed?
Entrepreneurial mindset (at all levels in the firm) is key to stay competitive
In todays business world, everyone, from the CEO to the shipping room staff, must be clear that searching for entrepreneurial opportunities is urgent and is everyones responsibility.
BUAD 478 Strategic Management
Analyzing strategic business situations:
identifying and analyzing the most strategic issues to attend to, and formulating strategic plans.
Implementing strategy and organizing the firm for strategic success. Understanding how firms create, capture, and sustain competitive advantage.
Competitive advantage and superior financial performance
A firm has competitive advantage when it makes above industry average profits because
It sells superior goods or services valued by
customers
Competitive parity occurs when a firms actions in an industry add value but several other firms are engaging in similar actions.
Dry cleaners
What is sustainable competitive advantage?
Sustainable competitive advantage occurs when a firm implements a value-creating of strategy which other companies are unable to duplicate the benefits or find it too costly to imitate.
If everyone can do it, you cant make
money at it.
Once upon a time Levi
Straus
Levis is a mythical brand, but our performance has been poor. It doesnt make styles we want. Levis styles are too tight and for the older generation.
15-year old high school sophomore Emmer
We showed them our numbers. We told them what kids were asking for. They even attended some of our focus groups. But they did not want to believe.
One of Levis customers
Levi Straus
Failure to respond quickly to fashion trends Over the past decade, market share has fallen down to 17% from 31%
Closed 30 of its 51 factories, laid off 40% of its workers Struggling to compete with Gap, Old Navy, Tommy Hilfiger and
Diesel
Re-connecting with Baby Boomers
Dockers
Connecting with younger generations
Process of strategy formulation and implementation
Intended Strategy Emergent Strategy
Decisions that emerge from adapting to changing
external circumstances Hondas entry into the American motorcycle industry
The Hierarchical Definitions of Strategy
CorporateWhatbusinessesshould afirmbein?
D iv is io n A C o r p o r a te H e a d q u a rte rs D iv is io n B
R&D HR F in a n c e P r o d u c t io n M k t g / S a le s
D iv is io n C
R&D HR F in a n c e P r o d u c t io n M k t g / S a le s
BusinessHowcanwecreatea competitiveadvantage ineachbusiness? FunctionalHowcandifferent functionscontributeto achievementof competitiveadvantage?
R&D HR F in a n c e P r o d u c t io n M k t g / S a le s
The Hierarchical Definitions of Strategy
CorporateTopleveldecisionmaking(diversification,
mergers&acquisitions,etc.)
Business(lowcost,differentiation,focus) Functionale.g.,Manufacturing:TQM,JIT,flexible
manufacturing
In a strategically coherent firm, corporate, business and functional strategies reinforce one another.
Policy on Class Etiquette
Attend class on time If you come late, sit in the last row Dont repeat Turn of cell phones during class. No texting or reading messages Distracting If you want to use a laptop, sit in the back row. No side conversations, coming and going, sleeping, grooming, eating
BUAD478 Strategic Management
COURSE REQUIREMENTS AND GRADING (100 Points) (1) Active participation in case-lecture discussions 15.0 points (1) Written case analysis (Saturn)
15.0 points (1) Group case presentation
Tell me about yourself
Note Cards
1. Full name 2. Phone 3. Background (city, state, country) 4. Major-minor 5. Career goals (positions, firms, and industries
you are interested) 6. What do you do for fun?
Tell us . in 30 seconds
1. Name 2. From? 3. Your major 4. What do you do for fun?
Form Your Groups
Each group should have 5 students Diverse groups perform better Try to have a mix of backgrounds (major in marketing, finance, operations, etc.)
Next Time
GET the BOOK
Next Tuesday: Wilderness Survival Exercise Next Thursday: Porters Whats Strategy Article ** Individual write-up due **
Pictures