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Strategy

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 you 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. You 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. critically evaluate the different models and approaches to strategic management in the light of global challenges and complexities.
• 2. analyse strategic management tools, concepts, and frameworks.

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 3. analyse an organisation’s competitive environment, evaluate competitive positions, and identify core competences using various tools and models of strategy.

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 4. present and defend strategic analyses based on case material, desk research and research in the marketplace.
• 5. undertake independent research and produce written material suitable for a business audience

Syllabus plan

Indicative content includes:

• the “Strategic Management Process” and its key components.
•  the concepts of strategy and competitive advantage,
•  the importance of  understanding the competitive landscape
•  change management
•  stakeholder influence, corporate vision and mission,

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you have been deferred for any assessment you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of referral will be capped at 40%

Indicative learning resources - Basic reading

Core text for the course:

• Thompson, J L., Scott, J M., & Martin, F. (2020). Strategic Management: Awareness and Change. Cengage (9th Edition). London: Cengage.

Supplementary reading:

• Hill, C., Schilling, M., & Jones, G. (2020). Strategic Management, An Integrated Approach – Theory and Cases. Boston: Cengage.
• Mintzberg, H., Ahlstrand, B. and Lampel, J.B. (2008) Strategy Safari. London: Financial Times.
• De Wit, B. (2020) Strategy: An International Perspective (7th Edition). Andover: Cengage

Indicative learning resources - Web based and electronic resources

• Various journal articles – some compulsory, some optional from a variety of relevant publications including Harvard Business Review, Long Range Planning, Strategic Management Journal etc.
•  Case studies which will require in-depth analysis for workshop activities

Key words search

Strategy, strategic management process, competitive advantage