strategic-management

170 PART 2 • STRATEGY FORMULATION
forward integration, backward integration, product development, market development,
market penetration, retrenchment, and unrelated diversification.
Step 3 Grade your paper as your instructor gives you the right answers and supporting rationale.
Each correct answer is worth 10 points.
Assurance of Learning Exercise 5E
Developing Alternative Strategies for My University
Purpose
It is important for representatives from all areas of a college or university to identify and
discuss alternative strategies that could benefit faculty, students, alumni, staff, and other
constituencies. As you complete this exercise, notice the learning and understanding that
occurs as people express differences of opinion. Recall that the process of planning is more
important than the document.
Instructions
Step 1 Recall or locate the external opportunity/threat and internal strength/weakness factors
that you identified as part of Exercise 1B. If you did not do that exercise, discuss now as
a class important external and internal factors facing your college or university.
Step 2 Identify and put on the chalkboard alternative strategies that you feel could benefit your
college or university. Your proposed actions should allow the institution to capitalize on
particular strengths, improve upon certain weaknesses, avoid external threats, and/or take
advantage of particular external opportunities. List 10 possible strategies on the board.
Number the strategies as they are written on the board.
Step 3 On a separate sheet of paper, number from 1 to 10. Everyone in class individually should
rate the strategies identified, using a 1 to 3 scale, where 1 = I do not support implementation,
2 = I am neutral about implementation, and 3 = I strongly support implementation.
In rating the strategies, recognize that your institution cannot do everything desired or
potentially beneficial.
Step 4 Go to the board and record your ratings in a row beside the respective strategies.
Everyone in class should do this, going to the board perhaps by rows in the class.
Step 5 Sum the ratings for each strategy so that a prioritized list of recommended strategies is
obtained. This prioritized list reflects the collective wisdom of your class. Strategies with
the highest score are deemed best.
Step 6 Discuss how this process could enable organizations to achieve understanding and
commitment from individuals.
Step 7 Share your class results with a university administrator, and ask for comments regarding
the process and top strategies recommended.
Assurance of Learning Exercise 5F
Lessons in Doing Business Globally
Purpose
The purpose of this exercise is to discover some important lessons learned by local businesses
that do business internationally.
Instructions
Contact several local business leaders by phone. Find at least three firms that engage in
international or export operations. Visit the owner or manager of each business in person.
Ask the businessperson to give you several important lessons that his or her firm has
learned in globally doing business. Record the lessons on paper, and report your findings to
the class.