Lecture Strategic management (7/e): Chapter 13 - Dess, Lumpkin, Eisner, McNamara

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Analyzing Strategic Managemen t Cases chapter 13 Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education . Strategic Case Analysis 13-2  Case analysis helps us learn how to ask good questions & make good decisions      Why do some firms succeed and others fail? Why are some companies higher performers than others? What information is needed in the strategic planning process? How do competing values and beliefs affect strategic decision-making? What skills and capabilities are needed to implement a strategy effectively? Strategic Case Analysis 13-3  Strategic management cases include     A detailed description of the challenging situation faced by an organization Usually includes a chronology of events Can include financial statements, product lists, interviews with employees Strategic case analysis requires   An ability to evaluate business situations Go beyond the textbook & root out essential issues and causes of a company’s problems 13-4 Strategic Case Analysis: Skills  Strategic skills needed include the ability to differentiate:    Evaluate many different elements of the situation at once Differentiate between the factors that are influencing the situation Understand that problems are often complex & multilayered  Need to dig deep  Don’t be too quick to accept an easy solution 13-5 Strategic Case Analysis: Skills  Strategic skills also include the ability to speculate:     Envision an explanation that might not readily be apparent Imagine different scenarios Contemplate the outcome of the decision Deal with uncertainty & incomplete knowledge  Data may be missing  Information may be contradictory  Details & consequences may be unknown 13-6 Strategic Case Analysis: Skills  Strategic skills also include the ability to integrate:   Consider the impact of various decisions & environmental influences on all parts of the organization Create one set of recommendations that affect the whole company  Realize that changes made in one part of the company will affect other parts  Need to adopt a holistic perspective Conducting a Case Analysis 13-7  Preparation:     Investigate the situation Analyze and research possible solutions Gather the advice of others Put yourself in the shoes of an actual participant  Are  you a strategic decision-maker? Are you the business founder or owner?  Are you a member of the board of directors?  Are you an outside consultant? Conducting a Case Analysis 13-8  Step 1: Become familiar with the material       Read quickly through the case one time Assess possible links to strategic concepts Read the case again, making notes Evaluate application of strategic concepts Formulate an initial recommendation Go through the case again to assess the consequences of actions you propose Conducting a Case Analysis 13-9  Step 2: Identify problems    Some cases have more than one problem to solve Avoid getting hung up on the case symptoms Try to articulate the case problems  Sometimes writing down a problem statement gives you a reference point  Some problems will not be apparent until after you do the case analysis Conducting a Case Analysis 13-10  Step 3: Conduct strategic analyses   Determine which strategic issues are involved Use strategic tools to conduct the analysis  Five Forces analysis  Value chain analysis  Contingency frameworks  Financial analysis – Financial Ratio Analysis  Test your own assumptions about the case 13-11 Strategic Case Analysis Tools Exhibit 13.1 Summary of Financial Ratio Analysis Techniques Conducting a Case Analysis 13-12  Step 4: Propose alternative solutions   Develop a list of options Evaluate the alternatives  Can the company afford it?  How will competitors respond?  Will employees accept the change?  How will it affect other stakeholders?  How does it fit with the vision, mission & objectives?  Will the culture or values of the company change? Conducting a Case Analysis 13-13  Step 4: Make recommendations      Make a set of recommendations supported by your analysis Describe exactly what needs to be done Explain why this course of action will solve the problem Indicate how best to implement the proposed solution Note: the solution you propose must solve the problem you identified Conducting a Case Analysis 13-14  Preparing an oral presentation   Organize your thoughts Emphasize strategic analysis  Background/problem statement = 10-20%  Strategic analysis/options = 60-75%  Recommendations/action plan = 10-20%    Be logical and consistent Defend your position Share presentation responsibilities Conducting a Case Analysis 13-15  Preparing a written presentation  Be thorough  Provide support for your arguments  Reference specific case materials or other facts     Coordinate team efforts Avoid restating the obvious Present information graphically Exercise quality control, be professional  Good grammar, spelling, consistent style throughout
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