Developing
entrepreneurial spirit among students
In line with its thrust to develop entrepreneurial spirit among students, the Department of Leadership and Strategy of the John Gokongwei School of Management (JGSOM, has developed new courses called Strategy Formulation and Strategy Implementation (LS 126 and 127, respectively).
Strategy
Formulation (LS 126) and Strategy Implementation (LS) serve as
the capstone, integrative courses for graduating seniors in
management-oriented concentrations. Unlike other business courses that
concentrate narrowly on a particular function or a piece of the business
– accounting, finance, marketing, production, human resources, or
information systems, strategic management is a big picture course. The
center of attention is the total enterprise – the industry and
competitive environment in which it operates, its long–term direction
and strategy, its resources and competitive capabilities, and its
prospects for success.
According
to Dr. Darwin Yu, Chair – Department of Leadership and Strategy (JGSOM):
"The challenge for LS 126/127 is to help students identify small
business beyond selling and novelty items, that will stretch their
decision-making on entrepreneurship."
To
achieve such goal, students will be given the opportunity to come up with
a group business project, the courses' centerpiece, which is a hands-on
experience for students in strategy formulation, implementation, and
evaluation. Students will use all the knowledge acquired from
previous courses, coupled with strategic management techniques to chart
the future directions of different organizations. In the first semester,
students will develop a business plan to start up and develop a business.
In the second semester, they will actually implement their business plan
for at least three months, evaluate their performance and strategies, and
show how they can make the business grow.
The
course will enable the students to think strategically about a company:
its present business position, its long-term direction, its resources and
competitive capabilities, its opportunities for gaining sustainable
competitive advantage, its competitive environment, and its strategic
options. In addition, the course will build students' skills in
conducting strategic analysis in a variety of industries and competitive
situations, providing them stronger understanding of the competitive
challenges of a global market environment.
Major topics that will be covered include Strategic Management Process; Mapping the Business Landscape; Creating Competitive Advantage; Strategy Analysis and Choice; Implementing Strategies: Management and Functional Issues; Review, Evaluation and Control. Case studies and readings complement conceptual content. These will acquaint students with the managerial tasks associated with implementing and executing company strategies, drill them in the range of actions managers can take to promote competent strategy execution, and give them some confidence in being able to function effectively as part of a company's strategy-implementing team. Integrated in these topics is the importance of exemplary ethical principles, sound personal and company values, and socially responsible management practices.