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ST382.doc ST382.doc Document Transcript

  • ST382 BRIGHTON BUSINESS SCHOOL MOULSECOOMB MODULAR SCHEME The following syllabus covers the content of both semesters. A detailed course outline showing the split between each separate module will be issued at the beginning of each year. TITLE: STRATEGIC MANAGEMENT LEVEL: 3 CREDIT RATING: 20 SUBJECT AREA: Strategy MODULE TYPE: Double SEMESTER OFFERED: 1&2 COURSE(S) FOR WHICH MODULE IS ACCEPTABLE AND STATUS IN COURSE: BA(Hons) Business Administration, Conversion - CORE PRE-REQUISITES : General pre-requisites are that students have successfully covered a broad range of business subjects at level 2, or equivalent. Specific pre-requisites are level 2 strategy (or a level 3 introductory strategy) module, plus experience of writing business style reports and team work. It is essential that students have a basic understanding of strategy that can be built on in this module. AIMS: The aim of the module is to provide in depth knowledge and understanding of competitive strategy within a market environment. Strategy is presented as the need for change to ensure organisational prosperity and including issues such as industry evolution, diversification acquisition and innovation as well as revisiting basic business analysis. To provide a level of knowledge and understanding equivalent to that provided by the triple modules ST310/ST311, by building on pre-requisite studies. LEARNING OUTCOMES: On completion of this module the students should be able to: • Explain strategic concepts, tools and theories over a wide range of business issues and environments. • Recognise how the business environment may affect a firm’s strategy and performance • Demonstrate critical analysis and insight into the issues relating to developing and implementing successful strategies in a rapidly changing world. • Demonstrate an integrated understanding of the various business functions and disciplines they have learnt about in previous years • Demonstrate team work skills through preparing group projects • Demonstrate their research skills in preparing group assignments • Demonstrate communication skills through seminar discussions
  • CONTENT: BUSINESS STRATEGY Internal analysis and resource-based approaches to strategy: Business functions and the value chain. Resources, competencies. Financial analysis and strategy. Corporate culture, power and strategy. External analysis and market-based approaches to strategy: Pest analysis. Forecasting. Industry analysis. Product life cycles. Key success factors. Strategic choices for single businesses: competitive strategies Swot analysis. Generic strategies. Resource-based and market-based approaches compared. The choice of means: in-house, buying-in and networking. Managing strategic change. Implementation of new strategies invariably require strategic change. Change can be structural, system related or related to the culture of the organisation. Topics covered in this section will therefore include the concepts and methods of change management, organisational structure and design and a study of corporate culture, it's relevance, significance and methods of change. Turnaround strategies can be included, as well as strategic control Technology, Innovation and Knowledge Management New product and process technologies innovation are enable companies to achieve competitive advantage. Stakeholder Strategy The concepts of stakeholder relationships and management are used to enable issues such as logistics and networking to be incorporated into strategic thinking Ethics and strategic choice. Ethical dilemmas in strategic choice, costs and benefits of ethical conduct and issues of governance are considered. Directions of growth. Diversification has been one of the most popular answers management has found for the need to grow. However, many companies have not experienced success with diversification. This section covers the directions of growth such as focused and conglomerate diversification and the underlying principles of managing growing organisations including synergy and strategic architecture. For multi unit corporations, management of corporate relations including 'parenting advantage' and strategic management styles also have great significance. Globalisation will be touched on in the context of strategic stretch and the risks associated with a heterogeneous environment versus the opportunities provided by increasing convergence in the global market. Methods of growth and restructuring Growth frequently entails restructuring the corporation as a fundamental way of improving performance and value addition. There are many methods for growth and restructuring and companies usually use a combination of them. They include organic growth, mergers and acquisitions, joint ventures and alliances and divestments. This section covers these methods of growth and relates them to the methods of value addition at the corporate level mentioned above, namely synergy, strategic architecture and business portfolio strategy.
  • The strategic decision process. This section covers the strategic decision-making processes used by companies to develop strategy (strategy content), taking into account relevant factors (strategy context). Strategic planning is a major tool used by larger organisations for this purpose but many strategies are also developed in the process of everyday activities, emergent strategies. Other concepts of strategy, such as Institutional Theory and Managerial Cognition will be considered. New developments, emerging issues and review LEARNING SUPPORT: BOOKS Students are recommended to read widely. The following general texts may be useful. The latest editions of: De Wit B & Meyer R, Strategy: process, content, context, West Publishing Grant RM, Contemporary Strategy Analysis, Blackwell Jenkins and Ambrosini Strategic Management: a multi-perspective approach, Palgrave Johnson G & Scholes K, Exploring Corporate Strategy, Prentice Hall Europe Mintzberg, Ahlstarnd and Lampel, Strategy Safari, Prentice Hall Europe Thompson J, Strategic Management, International Thompson Press There are also seminal books by authors with original ideas that will be useful and interesting for students to read. Lecturers will mention some of these in class and among them are: Porter M, Competitive Strategy, 1980 Porter M, Competitive Advantage, 1985 Hamel and Prahalad, Competing for the Future, 1994 Lecturers may refer students to other books and to articles in relevant periodicals. Newspapers and Periodicals Business Strategy Review Economist Financial Times Harvard Business Review Long Range Planning Strategic Management Journal Strategic Change Useful web sites www.economist.com, Economist www.ft.com, Financial Times www2.interscience.wiley.com/issn/0143-2095, Strategic Management Journal www.elsevier.nl, Publishers of Long Range Planning www.hbsp.harvard.edu/products/hbr/index.html, Harvard Business Review Most textbooks also have web sites, usually mentioned in the preface or other introductory parts of the book.
  • TEACHING & LEARNING STRATEGIES : Lectures: 20 Open Learning: 0 Seminars: 20 Self Study: 100 Workshops: 0 Assessment: 60 Total: 200 ASSESSMENT: Individual Assessment 70% (Either 3 hour exam (70%) or 2 hour exam (50%) plus coursework (20%) Group Assessment 30% Coursework BRIEF DESCRIPTION OF THE MODULE: Strategy Management is a compulsory core subject because its strategic and holistic approach to business requires students, from the very beginning of the year, to integrate, apply and reassess what they learn in other more specialist modules. Area Examination Board: Strategy External Examiner: N O’Regan Faculty: MIS Site where delivered: Moulsecoomb Module Writer(s): R Morland Date of Approval: 2004 Date of Last Revision: 2004