Instructor: Dr. Peter Foreman and Dr. James Lowe
Course Coordinator: Holly Fuson
Business Strategy is a course taught in business schools around the world. The purpose of this course is to provide you with the business concepts to help you run a successful business after graduation. We invited business professor Peter Foreman, from Illinois State University College of Business to give you the same lectures provided in his business strategy course. Dr. Lowe sits down with Professor Foreman to apply the business concepts taught in the course giving a “reality check” to the material.
The purpose of this course is to educate you on key concepts taught by Business Schools to allow you have a better understanding of how a business makes money and how to thrive in a competitive market.
Upon successful completion of this course, students will be able to:
- Understand the basic business strategy concepts
- Analyze your current industry external and internal environment
- Module 1: The Concept of Strategy
- What is Strategy Management About?
- Strategic Coherence
- Why Are Some Livestock Producers More Successful Than Others?
- Module 2: Strategic Management Process
- The Strategic Management Process: Beginning with Strategic Intent
- The Strategic Management Process: Incorporating Stakeholders
- Strategic Intent and Stakeholders in Livestock Production Firms
- Module 3: Industry Analysis
- The General External Environment and an Introduction to Industry Analysis
- Porter's Five Forces Framework
- Porter's Five Forces Framework Part 2
- Then and Now: External Forces on the Livestock Production Industry
- Module 4: Resources and Capabilities
- Introduction to the Resource-Based View
- Conducting a Value Chain Analysis
- Core Competencies: Going Deeper
- Applying the Resource-Based View
- The Role of Outsourcing and How Livestock Production Firms Create Value
- Module 5: Competitive Advantage
- Competitive Advantage: An Introduction
- Creative Competitive Advantage
- Sustaining a Competitive Advantage
- The Drivers of Superior Returns in Livestock Production Firms
- Module 6: Business-level Strategy
- Business Level Strategies: Cost vs. Differentiation
- Business Level Strategies: Variations
- Competitive Advantage and Business-Level Strategies in Livestock Production Firms
Mode of Teaching
This course is fully online using Compass 2g (https://compass2g.illinois.edu) supported by Blackboard. The content will be presented as text, videos, and other media. The course covers the same amount of material that would be expected if the class were a traditional campus-based course. Due to the nature of online learning, students must be diligent about their learning,engaging often and actively.
- Grant, R. M. (2016) Contemporary strategy analysis: Text and cases. 7th edition and up. John Wiley & Sons.
- Porter, M. E. What is strategy? Harvard Business Review, 74(6), 61–78. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=bsu&AN=9611187954
- This article is located online through the University of Illinois Library (https://www.library.illinois.edu/). To narrow the search, select the article tab and then filter by the subject “Business”.
- A reliable device.
- High-speed internet connection: e.g. DSL or Cable.
- Supported web browser: e.g. a recent version of Google Chrome, Firefox, or Safari.
- Access Microsoft Office 365 (Net ID and password needed) & have Adobe Acrobat Reader installed.
- Minimum technical skills: At a minimum, students must possess the ability to navigate Blackboard. This includes accessing course content, posting to a discussion board, and completing online assignments, quizzes, self-assessments, and exams.
alt link: https://online.vetmed.illinois.edu/business-strategy-pd