Strategy
| Module title | Strategy |
|---|---|
| Module code | BEM3065 |
| Academic year | 2020/1 |
| Credits | 15 |
| Module staff | Professor Thomas Birtch (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 50 |
|---|
Module description
Strategy may be defined as “determination of the long term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.” (Alfred Chandler, 1962).
There are two questions central to strategy: “What business should the firm be in?” and “How should it compete in that business?” This module addresses such questions by helping students to develop an understanding of how organisations arrive at strategies for competitive advantage and how they address issues relating to firm growth and development. The module takes a holistic view of the strategic management process and explores key concepts, theories, frameworks, and issues of relevance to each of its dimensions (i) strategic analysis, (ii) strategic formulation, and (iii) strategic implementation.
The module is designed to be highly interactive, international in its context, and will utilise a range of teaching tools and techniques, such as lectures, experiential sharing, group exercises, role play, case study analysis, class presentations, report writing, presentations, and workshops, to enhance learning. Students will work on a number of case studies and exercises to help develop problem solving and critical reasoning skills within the strategic management field.
Module aims - intentions of the module
The module aims to introduce strategy through an intellectually stimulating, and academically rich, yet practical study of the strategic management process. The module challenges and integrates theoretical concepts, theories, and frameworks in strategic management and explores the ideas of both leading scholars and prominent practitioners to discuss what strategy comprises and how it is implemented.
The module’s primary aims include: developing the ability to analyse and develop a holistic approach to strategic issues; developing a critical understanding of strategic thinking and its implications to organisations; improving understanding about 21st century challenges to organisations such as globalisation, sustainability, and responsible management (e.g., ethics, CSR) from a strategic management perspective.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. discuss the different models of, and approaches to, strategic management;
- 2. demonstrate a critical understanding of strategic management tools, concepts, and frameworks.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 3. analyse an organisations competitive environment, evaluate competitive positions, and identify core competences using various tools and models of strategy;
- 4. critically evaluate firm strategies in light of global challenges and complexities.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 5. present and defend strategic analyses based on case material, desk research and research in the marketplace;
- 6. demonstrate effective skills in written communication, critical evaluation, team work, and independent research
Syllabus plan
The module will cover the “Strategic Management Process” and its key components. Following an introduction to the concepts of strategy and competitive advantage, and why understanding the competitive landscape and change, corporate vision and mission, and stakeholder influence are important, the three interrelated stages of the strategic management process will be placed squarely in focus, as follows:
(i) Strategic Analysis – The External and Internal Environment of the Firm: In this section of the module we will cover different strategy tools for external analysis, including those relating to a firm’s general environment, industry environment, and competitor environment. External analysis is important for understanding the key drivers of firm success. By practicing using frameworks such as Porter’s five forces and PESTEL, students will be able to systematically analyse the structural determinants of industry profitability and develop reasoned arguments for strategic actions. We will also cover the tools of internal analysis and the importance of value creation, differences between tangible and intangible resources, and whether resources and capabilities are core competencies. Internal analysis is critical to understanding the sources of a firm’s competitive advantage. By practicing using the frameworks for internal analysis, students will be able to systematically analyse the determinants of firm competitiveness and develop reasoned arguments for strategic actions.
(ii) Strategy Formulation – Levels of Strategy and Competitive Dynamics, Mergers & Acquisitions and Cooperative Strategy, and International Strategy: Strategy formulation begins with understanding the strategic choices that can be taken to enhance a firm’s competitiveness and advantages over rivals. First, we will cover different types of business-level strategies, the dimensions of competitive rivalry and dynamics that are important, and what constitutes corporate-level strategy. Second, we will discuss acquisition strategies that firms use in their attempt to achieve strategic competitiveness, the common forms of restructuring, and pitfalls. Third, we will explore the dynamics of global strategy, including motives for international diversification, the choice of entry modes, trends affecting international strategy, and the inherent risks. By examining real-life case studies students will gain problem solving and critical thinking skills relevant to making choices between various strategic alternatives.
(iii) Strategy Implementation – Issues and Trends: This part of the course will cover examples of major issues, trends, and complexities associated with strategy implementation, including ethics, corporate governance, strategic leadership, entrepreneurship and strategic renewal, and similar trends in modern business. Coverage of such issues equips students with an understanding about the broad strategic areas and issues that must be considered to effectively implement strategy.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 28 | 122 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activity | 20 | Lectures |
| Scheduled Learning and Teaching Activity | 6 | Workshops |
| Scheduled Learning and Teaching Activity | 2 | Group meetings with Instructor/Tutor |
| Guided Independent Study | 40 | Reading prior to and following classroom activities |
| Guided Independent Study | 62 | Researching and preparing assignments plus revision |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Lecture exercises requiring preparation | During lectures | 1-6 | Oral feedback from instructor/tutor |
| Workshops requiring preparation | 3 x 2 hours | 2, 3, 4, 5 | Written/oral feedback from instructor/tutor |
| Proposal for group assignment | 5 slides (10 minute presentation) | 5, 6 | Written/oral feedback from instructor/tutor |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 30 | 70 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Examination (case/scenario based) | 70 | 2 hours | 1-6 | Written/oral feedback from instructor/tutor |
| Group assignment | 30 | 3,500 words per group plus 15 minute verbal presentation | 1-6 | Written/oral feedback from instructor/tutor |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Examination | Examination (30%) | 1-6 | August/September Reassessment Period |
| Group assignment | Individual assignment plus reflection on group dynamics (30%) | 1-6 | August/September Reassessment Period |
Indicative learning resources - Basic reading
Hitt, M. A., Ireland, R. D. & Hoskisson, R. E. (2020). Strategic Management: Competitiveness and Globalization, 13th Edition, Cenage
Indicative learning resources - Web based and electronic resources
ELE – College to provide hyperlink to appropriate pages
- Discussion forums, links to internet resources and similar
Web based and electronic resources:
- Links to business news, reports, companies report and similar relevant to the curriculum
Indicative learning resources - Other resources
- Journal articles (various compulsory and optional readings)
- Case studies (for analysis and workshop activities)
- Supplementary readings provided by module staff
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | BEM1023 OR BEM1016 / BEM1016a OR BEA1005 |
| Module co-requisites | Non requisite: BEM3033 / BEM3033A |
| NQF level (module) | 6 |
| Available as distance learning? | No |
| Origin date | 06/01/2020 |
| Last revision date | 12/03/2020 |
