|Delivery length / details
|20 x 1 Hour Lectures
|5 x 1 Hour Seminars
|Assessment length / details
|2 Hours Unseen written examination
|2 Hours Unseen written examination Repeat failed element
|Individual assignment Repeat failed element
On successful completion of this module students should be able to:
* Analyse the core concepts and frameworks in business strategy;
* Explain and apply tools for analysing the internal and external business environment;
* Critically evaluate issues in business strategy process, content and context;
* Appraise critically the major theories of strategy;
* Explore creative approaches to the formulation of business strategy;
* Propose and defend improvements to strategic decision making in organisations.
This module is designed to demonstrate the complexity of business strategy to undergraduate students by means of a range of business scenarios and cases. It will equip students with an understanding of the development of business strategy, and illustrate the importance of business strategy to the company itself, to various stakeholders and to the wider business community.
This module will equip students with an understanding of the development of business strategy, and illustrate the importance of business strategy to the company itself, to various stakeholders and to the wider business community. Students will (i) develop their understanding of the many, often conflicting, approaches to business strategy and critically reflect on the assumptions, possibilities and limitations of each approach; (ii) explore how strategy functions within the wider internal and external business environment; and (iii) develop the necessary skills to apply their learning to a wide range of situations and scenarios.
Week 1: Strategies. What is Strategy? The classical approach to strategy, dimensions and criteria for effective strategies, competitive advantage and sustainability.
Week 2: Strategists. The nature of managerial work, the learning organization, vision and control, power and timing, communication and leadership. Examples of successful strategists.
Week 3: Formulating strategy. Achievement of fit between the external and internal situation. Strategic intent, creating a vision and planning for the future and empowerment.
Week 4: Analyzing strategy. Resource-based view of the firm. Porters five forces, generic strategies and value chain. Sustainable advantage, identifying the core business and strategic positioning.
Week 5: Strategy in practice. Emergent strategy, taking advantage of the unexpected, flexible and open strategy formation. The role of technology in the strategy process.
Week 6: Strategic change. Strategy as a process of transformation, techniques used to promote change in organizations, dramatic shifts in strategy, realignment and re-orientation.
Week 7: Organizations. The relationship between organizational structure and strategy, vertical integration and diversification, divisionalization, virtual and network organizations etc.
Week 8: Alliances and collaboration. Formation and management of partnerships and outsourcing, joint ventures and alliances. Acquisition of knowledge through partnerships and alliances.
Week 9: Global strategy. Strategic management in an international context. Deciding on which markets to participate, products and services to offer and the pitfalls of going global.
Week 10: Values. Ethical strategies. Values as a driving force and stabilizing influence in strategy. Sustainability and planning for the future. Review of the lectures.
A case study will be discussed in each seminar/tutorial with the following themes:
1. The entrepreneurial approach to strategy: managing start-ups
2. Strategic management in a mature organization
3. Strategy in professional and diversified organizations
4. The innovation context, technology and dynamic change
5. Course and exam review
|Application of Number
|Analysis of financial and other numerically based company reports.
|Develop communications skills including presentation and listening skills. Improve literacy skills by reading and writing about strategic management.
|Improving own Learning and Performance
|Devise and apply realistic self-learning strategies, review and monitor overall performance, be aware of time management techniques.
|Use a range of commonly used software packages, prepare and analyse data, present information.
|Personal Development and Career planning
|Students will be able to use the skills learnt in this module to enhance their career opportunities. They will also be able to plan strategically for the long-term in their chosen career.
|Identify problems. Identify factors which might influence potential solutions. Develop creative thinking approaches to problem solving. Evaluate advantages and disadvantages of potential solutions. Construct a rational proposal in response to a problem.
|Carry out research into strategic management. Identify relevant source material for assignments and case studies.
|Subject Specific Skills
|Students will be able to understand, analyze and develop strategic plans in their chosen career and organization.
|Understand the concept of group dynamics, contribute effectively to group activities, participate in group discussions and assessed coursework, exercise negotiation skills.
This module is at CQFW Level 6