Lecture 12 Revision Slides

MGMT 205
Strategic Management
Final Session
Revision
Content of Session
• Discussion of the test structure

• Preparing for the test
• An overview of core themes and sample
questions
Test structure
• The test is open book.

• The time allowed is two hours.
• Total marks add up to 30.
• The test includes two questions:
– Question 1 – 16 marks
– Question 2 – 14 marks
Each question has sub-questions.
• You need to answer all the questions.
• The test is based on a case study titled:
Warner Bros Discovery
• A copy of the case is posted on Blackboard.
• Each question is made up of sub-questions.

• The sub-question requires you to use concepts from the
course to identify and discuss relevant aspects from the
case.
Prepare for the test based on:
• The textbook, Exploring Strategy (11th edition), by
Johnson, Wittington, Scholes, Angwin & Regner.
• The lecture slides (on Blackboard) and your own lecture
notes.
• Tutorial material including any concepts and
frameworks used (but not the specific cases).
• The test case: Read the case carefully and think about:
– the ways in which topics covered in the course relate to its
events
– how the various issues and frameworks covered are
relevant to what has happened, is happening, or could
happen in this case.
When preparing for the test…
• Do not look at each topic in isolation. Think of how the

topics relate to one another.
• Think of how the various topics would be relevant to
the organization discussed.
• Practice applying the concepts or frameworks using the
sample questions.
• Having prepared for the test, believe in your ability to
use that information constructively during the test.
General feedback from assignments relevant
to the test
To do well you need to…
• Read the question carefully and ensure that you address what
it asks and cover all its parts.
• Think about what to include before you write. Take a minute
to plan and structure your answer.
• Combine the course concepts with the specific case. Use the
concepts or frameworks and apply them (do not just tell a
story).
• Ensure effective balance in coverage: allocate space and time
proportionate to the questions.
Topic overview and practice
test questions
Slides that follow are only an overview of the course
and sample questions. They do not cover all relevant
information covered in the course nor all possible
questions.
Strategic management involves making decisions and
taking action that considers the long-term direction and
viability of an organisation and has relevance across the
whole organization.
Three key areas with implications for strategic analysis and

decisions:
– Strategic position
– Strategic choices
– Strategy in action
Strategic position (Sessions 2-5)
Concerned with the impact on strategy of the external
environment, the organisation’s strategic capability
(resources and competences), and the organisation’s
purpose and goals.
Key themes already assessed:
• Analysis of the environment has been extensively assessed on the
assignment, so will not be assessed again.
• Analysis of capabilities and resources: the frameworks have been
assessed on the assignment, so will not be assessed again.
Understanding capabilities matters to other areas (e.g. mergers)
and value chain/system is important for understanding scope and
diversification.
• Analysis of purpose and goals has been assessed on the assignment
so will not be assessed again.
Strategic choices (Sessions 6-9)
Considering options for strategy in terms of the directions
of strategy and the methods by which it might be
pursued.
Themes already assessed:
• Analysis of business-level and competitive strategy
• Analysis of corporate strategy, including Ansoff’s strategy
directions and diversification
• Analysis of international strategy
Themes to be assessed:
Lecture 7: Corporate parenting and portfolio analysis.
Lecture 9: Mergers, acquisitions and alliances, including
analysis of motives, processes, and when to DIY, buy or
ally.
Strategic directions and
corporate-level strategy
Figure 8.1 Strategic directions and corporate-level strategy

Three corporate rationales
Figure 8.5 Portfolio managers, synergy managers and parental developers

Source: Adapted from M. Goold, A. Campbell and M. Alexander, Corporate Level Strategy, Wiley, 1994
Strategy methods
Managing integration in M&A
Figure 11.3 Acquisition integration matrix

Figure 11.6 Buy, ally or DIY matrix
Question
The strategic choices made by organizations often
pertain to diversification and acquisitions.
•Introduce the various motives for M&As generally.
Identify and briefly discuss the relevant motives that
drove Amazon’s acquisition of Whole Foods.
•Introduce the approaches to managing integration in
M&As. Identify and briefly discuss the approach(es)
relevant to the integration of Amazon and Whole Foods.
Question
The strategic choices made by organizations often
pertain to corporate parenting.
Briefly introduce the Corporate Rationales behind
corporate parenting. Identify and discuss the corporate
rationale behind Disney’s recent acquisitions of Pixar,
Marvel and Lucas Film.
Question
Answer the following questions by focusing on Disney’s
acquisitions of Pixar, Marvel and Lucas Film:
•Introduce the two main criteria for target choice in M&As.
Discuss the relative importance of these criteria to each of the
three acquisitions.
•Negotiating the right price for the target organization is
essential to acquisition management. Briefly introduce the key
points in price negotiation and apply them to each of these three
acquisitions. Discuss whether you think the price paid for each
acquisition is strategically justified and why.
•Introduce the approaches to managing integration in M&As.
Which approach applies to the integration of each of the three
acquisitions by Disney and why?
Question
Introduce the four key factors used in comparing
whether an organization should choose M&As (buy) or
an alliance (ally). Apply these factors to the case and
compare the two options for Renault-Nissan-
Mitsubishi. Would you recommend a merger or an
alliance for their future? Why?
Strategy in action (Sessions 10-11)
How strategies are formed and implemented. The emphasis

is on the doing of strategy and its organizational
implications.
Key themes to be assessed:
• Lecture 10: Strategy development process including
analysing the dynamics of intended and emergent strategies
and how they relate to the realised strategy.
• Lecture 11: Strategy practice, including analysing the role of
strategists, strategizing activities and strategizing
methodologies.
Deliberate and emergent strategy development
Source: Adapted from H. Mintzberg and J.A. Waters, ‘Of strategies, deliberate and emergent’, Strategic Management Journal, vol. 6, no. 3 (1985), p. 258.
Question
Strategy process can be based on intended strategy
development through strategic planning and/or
emergent strategy development through the dynamics
of power and politics.
Introduce both of these views on strategy process.
Discuss the manifestations of each of these in Marks
and Spencer plc: (i) strategic planning including its
benefits and dangers and (ii) the role of power and
politics in strategy development.
Question
Strategy development processes can be based on

deliberate strategy or emergent strategy. Define
‘deliberate strategy’ and ‘emergent strategy’.
Introduce and discuss two types of deliberate strategy
and two types of emergent strategy that were relevant to
the realised strategy at Disney. Illustrate your discussion
using examples from any of the time periods in
Disney’s history.
Strategy practice
Figure 16.1 The pyramid of strategy practice

Who to include in strategy making?
Figure 16.2 Who to include in strategy making?

Question
Strategic leadership and high-level strategising skills are
integral to successful strategic management.
Introduce both the various manifestations of strategic
leadership and the skills that contribute to high-level
strategising. Choose ONE of the top-level strategists in
Marks and Spencer plc over the years to identify and
discuss both the manifestations of strategic leadership and
the strategising skills that were relevant in their case.
Question
•
Strategic leadership (process) and high-level strategising
skills (practice) are integral to successful strategic
management. Identify and discuss the manifestations of
strategic leadership and strategising skills that have been
relevant to Marc Benioff’s role in leading Salesforce,
including its acquisition of Slack.
•
Strategy development process often involves emergent
strategy. Identify and discuss two types of emergent strategy
that have been relevant to the realised strategy at Salesforce,
including its acquisition of Slack.
• Strategy practice is concerned with action and
implementation. Identify and discuss two strategizing
activities (other than strategic analysis) that enable
Marc Benioff to gain support for the Salesforce
acquisition of Slack.
Question
Examining strategy in action involves thinking about
strategy process and strategy practice.
Strategy development processes can be based on
deliberate strategy or emergent strategy. Identify and
briefly discuss two types of deliberate strategy and
two types of emergent strategy that can be noted in
this case.
Strategy practice is concerned with strategists, action
and implementation.
•Various strategists can be involved in shaping an
organization’s strategy. Who would you include in
strategy-making during Amazon’s acquisition of MGM
and why?
•Identify and briefly discuss a strategizing activity (other
than strategic analysis) that could support Amazon in its
acquisition of MGM.
• Your feedback matters…
• Please complete:
– Teaching feedback
– Course feedback
You can do well on this test!

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MGMT 205

• Discussion of the test structure

• The test is open book.

• A copy of the case is posted on Blackboard.

• Each question is made up of sub-questions.

• Do not look at each topic in isolation. Think of how the

Three key areas with implications for strategic analysis and

Figure 8.1 Strategic directions and corporate-level strategy

Figure 8.5 Portfolio managers, synergy managers and parental developers

Figure 11.3 Acquisition integration matrix

How strategies are formed and implemented. The emphasis

Strategy development processes can be based on

Figure 16.1 The pyramid of strategy practice

Figure 16.2 Who to include in strategy making?

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