Instructor: Dr. Peter Foreman and Dr. James Lowe
Course Coordinator: Holly Fuson
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
- 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