From theory to action: the story of one strategy 271
DRAFT – For Discussion Purposes – Paul Friga – 2.20.08
2010 Mission Statement: Our purpose is to continue to differentiate the Kenan-Flager Business School through innovative and experiential learning opportunities.
Goals
2011
Grow
• 75% of students participate • 6/7 or 4/5 satisfaction ratings
2009
Enhance
• Increase # projects • More programs • Include more faculty
STAR Projects
Formalize
• Raise funds • Market externally • Consolidate other project based work
• Organize team • Develop methodologies • Engage faculty
Mission: Provide students with real world opportunities to help North Carolina companies with major business issues
Recruit
• 40 students in consulting concentration
• Add consulting faculty • Conduct research • Assist admissions
Engage
Redesign
MBA Consulting
• Raise funds • Market externally • Visit firms
• 30 placements/yr
Mission: Teach MBA students about the consulting industry, train in consulting skills, and connect with top consulting firms
• Streamline concentration
• Revamp courses • Host consultants
Connect
Establish
• Support STAR programs • Hold Consulting Day • Host alumni
• 40 students in concentration • 30 placements/yr
BSBA Consulting
Create
• Create ‘Consulting Corps’ • Market externally • Visit firms
• Launch consulting concentration • Offer new courses
Mission: Teach Bachelor of Science in Business Administration students about the consulting industry, train in consulting skills, and connect with top consulting firms
• Institute open consulting club
Figure 12.2 Star program and consulting strategies at Kenan-Flagler
The opportunities represent all of the potential priorities and actions we could undertake and once we identify the right shortlist – it becomes our strategy. The threats may come from three general sources – the macro/general environment, competitors (industry level) and from customers (in terms of negative shifts). One of the most common frameworks used to capture the macro/general environment issues is STEEP: Social, Technological, Environmental, Economic and Political/Legal (Fleisher and Bensoussan, 2003). The goal is to create a shortlist of the most important issues that may affect us after carefully considering the impact of the issue as well as the implications for strategy. Next, I will describe how I moved to actions related to the external analysis.
Application
One of the tenets of my strategy teaching is how important it is to truly prioritize. A SWOT analysis that results in 8 weaknesses and 10 strengths, in my opinion, has not truly been completed as each of the 8–10 items
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