situations. Law, on the other hand, is a system of rules that are created and enforced by institutions to regulate behavior, ensu
order, and resolve disputes.Ethical dilemmas often arise when an individual or organization faces a situation in which differe
moral principles conflict, or where there is no clear "right" answer. Legal issues, meanwhile, come into play when actions
conflict with established laws or legal norms. The challenge arises in balancing both ethical and legal considerations when
making decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of the sectors where ethical and legal issues are
particularly pronounced. Medical professionals regularly face situations that require them to make complex
Virginia Tech
Strategic Management
and Business Policy
Globalization, Innovation, and
Sustainability
Fourteenth Edition
Thomas L. Wheelen
J. David Hunger
Alan N. Hoffman
Copyright © 2015 Pearson Education, Inc. i
, Charles E. Bamford
CONTENTS
Page
PART A
SUGGESTIONS FOR TEACHING STRATEGIC MANAGEMENT
The Case Method ............................................................................................................................... 1
Possible Course Syllabus and Outlines .............................................................................................. 1
Sample Course Syllabus (with MyManagementLab) ......................................................................... 3
PART B
CHAPTER NOTES
situations. Law, on the other hand, is a system of rules that are created and enforced by institutions
to regulate behavior, ensure order, and resolve disputes.Ethical dilemmas often arise when an
individual or organization faces a situation in which different moral principles conflict, or where
there is no clear "right" answer. Legal issues, meanwhile, come into play when actions conflict with
established laws or legal norms. The challenge arises in balancing both ethical and legal
considerations when making decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of
the sectors where ethical and legal issues are particularly pronounced. Medical professionals
regularly face situations that require them to make complex
Chapter One. Basic Concepts of Strategic Management ................................................................... 8
Chapter Two. Corporate Governance.............................................................................................. 13
Chapter Three. Social Responsibility and Ethics in Strategic Management .................................... 19
Chapter Four. Environmental Scanning and Industry Analysis....................................................... 23
Chapter Five. Internal Scanning: Organizational Analysis.............................................................. 29
Chapter Six. Strategy Formulation: Situation Analysis and Business Strategy ............................... 33
Chapter Seven. Strategy Formulation: Corporate Strategy ............................................................. 37
Chapter Eight. Strategy Formulation: Functional Strategy and Strategic Choice ............................ 44
Chapter Nine. Strategy Implementation: Organizing for Action ..................................................... 49
Chapter Ten. Strategy Implementation: Staffing and Directing ...................................................... 56
Chapter Eleven. Evaluation and Control ......................................................................................... 61
Chapter Twelve. Suggestions for Case Analysis .............................................................................. 66
PART C
INSTRUCTOR RESOURCES
Understanding Financial Statements ................................................................................................ 75
The Strategy Wizard ........................................................................................................................ 91
Copyright © 2015 Pearson Education, Inc. ii
, PART A
SUGGESTIONS FOR TEACHING
STRATEGIC MANAGEMENT
SUGGESTIONS FOR TEACHING STRATEGIC MANAGEMENT
Strategic management...Business policy...Strategy. Whatever its name, it's typically considered a "capstone" course
in most business schools. Its primary job is to examine a business firm as a whole and to integrate the various
functional disciplines. It generally includes industry analysis and competitive strategy with a healthy dose of SWOT
analysis. It may also include corporate governance and/or social responsibility and ethics, depending upon the
instructor. The course is generally expected to take a practical view of how business corporations actually function
"in the real world." Nevertheless, there are many ways to teach strategic management. Some people are strong
proponents of "the case method." Others argue that simulations are the best method of giving students a "hands-on"
understanding of strategic decision making. A number of instructors also use experiential exercises, group projects,
and audio-visual presentations. Very few, if any, argue for a straight lecture/discussion type of strategy course at the
undergraduate and master's level. Each approach, however, has its strengths and weaknesses.
situations. Law, on the other hand, is a system of rules that are created and enforced by
institutions to regulate behavior, ensure order, and resolve disputes.Ethical dilemmas often arise
when an individual or organization faces a situation in which different moral principles conflict,
or where there is no clear "right" answer. Legal issues, meanwhile, come into play when actions
conflict with established laws or legal norms. The challenge arises in balancing both ethical and
legal considerations when making decisions.### 2. **Ethical Issues in Healthcare**Healthcare is
one of the sectors where ethical and legal issues are particularly pronounced. Medical
professionals regularly face situations that require them to make complex
Lecture/discussion, for example, is a good way to communicate a lot of information and to critically analyze
theoretical concepts. In a strategy course, however, the emphasis is typically on developing integrative and
problem-solving skills. This is a weakness of the lecture/discussion approach.
The simulation, in contrast, is an excellent method to develop these skills and to put learning in the hands of the
student rather than in the hands of the instructor. It also emphasizes strategy implementation, an aspect of strategic
management often receiving little emphasis in most strategy courses. Its weaknesses include turning the instructor
from a teacher into an administrator. If teams are used, there is a strong tendency for students to let the "computer
geeks" take charge of decision making as the objective turns from strategy making to "playing the game."
The Case Method
The most popular as well as the most perceived effective approach to teaching strategic management is the case
method. Its strengths include a real-world orientation (believed to generate student involvement) and the ability to
Copyright © 2015 Pearson Education, Inc. 3
order, and resolve disputes.Ethical dilemmas often arise when an individual or organization faces a situation in which differe
moral principles conflict, or where there is no clear "right" answer. Legal issues, meanwhile, come into play when actions
conflict with established laws or legal norms. The challenge arises in balancing both ethical and legal considerations when
making decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of the sectors where ethical and legal issues are
particularly pronounced. Medical professionals regularly face situations that require them to make complex
Virginia Tech
Strategic Management
and Business Policy
Globalization, Innovation, and
Sustainability
Fourteenth Edition
Thomas L. Wheelen
J. David Hunger
Alan N. Hoffman
Copyright © 2015 Pearson Education, Inc. i
, Charles E. Bamford
CONTENTS
Page
PART A
SUGGESTIONS FOR TEACHING STRATEGIC MANAGEMENT
The Case Method ............................................................................................................................... 1
Possible Course Syllabus and Outlines .............................................................................................. 1
Sample Course Syllabus (with MyManagementLab) ......................................................................... 3
PART B
CHAPTER NOTES
situations. Law, on the other hand, is a system of rules that are created and enforced by institutions
to regulate behavior, ensure order, and resolve disputes.Ethical dilemmas often arise when an
individual or organization faces a situation in which different moral principles conflict, or where
there is no clear "right" answer. Legal issues, meanwhile, come into play when actions conflict with
established laws or legal norms. The challenge arises in balancing both ethical and legal
considerations when making decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of
the sectors where ethical and legal issues are particularly pronounced. Medical professionals
regularly face situations that require them to make complex
Chapter One. Basic Concepts of Strategic Management ................................................................... 8
Chapter Two. Corporate Governance.............................................................................................. 13
Chapter Three. Social Responsibility and Ethics in Strategic Management .................................... 19
Chapter Four. Environmental Scanning and Industry Analysis....................................................... 23
Chapter Five. Internal Scanning: Organizational Analysis.............................................................. 29
Chapter Six. Strategy Formulation: Situation Analysis and Business Strategy ............................... 33
Chapter Seven. Strategy Formulation: Corporate Strategy ............................................................. 37
Chapter Eight. Strategy Formulation: Functional Strategy and Strategic Choice ............................ 44
Chapter Nine. Strategy Implementation: Organizing for Action ..................................................... 49
Chapter Ten. Strategy Implementation: Staffing and Directing ...................................................... 56
Chapter Eleven. Evaluation and Control ......................................................................................... 61
Chapter Twelve. Suggestions for Case Analysis .............................................................................. 66
PART C
INSTRUCTOR RESOURCES
Understanding Financial Statements ................................................................................................ 75
The Strategy Wizard ........................................................................................................................ 91
Copyright © 2015 Pearson Education, Inc. ii
, PART A
SUGGESTIONS FOR TEACHING
STRATEGIC MANAGEMENT
SUGGESTIONS FOR TEACHING STRATEGIC MANAGEMENT
Strategic management...Business policy...Strategy. Whatever its name, it's typically considered a "capstone" course
in most business schools. Its primary job is to examine a business firm as a whole and to integrate the various
functional disciplines. It generally includes industry analysis and competitive strategy with a healthy dose of SWOT
analysis. It may also include corporate governance and/or social responsibility and ethics, depending upon the
instructor. The course is generally expected to take a practical view of how business corporations actually function
"in the real world." Nevertheless, there are many ways to teach strategic management. Some people are strong
proponents of "the case method." Others argue that simulations are the best method of giving students a "hands-on"
understanding of strategic decision making. A number of instructors also use experiential exercises, group projects,
and audio-visual presentations. Very few, if any, argue for a straight lecture/discussion type of strategy course at the
undergraduate and master's level. Each approach, however, has its strengths and weaknesses.
situations. Law, on the other hand, is a system of rules that are created and enforced by
institutions to regulate behavior, ensure order, and resolve disputes.Ethical dilemmas often arise
when an individual or organization faces a situation in which different moral principles conflict,
or where there is no clear "right" answer. Legal issues, meanwhile, come into play when actions
conflict with established laws or legal norms. The challenge arises in balancing both ethical and
legal considerations when making decisions.### 2. **Ethical Issues in Healthcare**Healthcare is
one of the sectors where ethical and legal issues are particularly pronounced. Medical
professionals regularly face situations that require them to make complex
Lecture/discussion, for example, is a good way to communicate a lot of information and to critically analyze
theoretical concepts. In a strategy course, however, the emphasis is typically on developing integrative and
problem-solving skills. This is a weakness of the lecture/discussion approach.
The simulation, in contrast, is an excellent method to develop these skills and to put learning in the hands of the
student rather than in the hands of the instructor. It also emphasizes strategy implementation, an aspect of strategic
management often receiving little emphasis in most strategy courses. Its weaknesses include turning the instructor
from a teacher into an administrator. If teams are used, there is a strong tendency for students to let the "computer
geeks" take charge of decision making as the objective turns from strategy making to "playing the game."
The Case Method
The most popular as well as the most perceived effective approach to teaching strategic management is the case
method. Its strengths include a real-world orientation (believed to generate student involvement) and the ability to
Copyright © 2015 Pearson Education, Inc. 3
