The aim of the module is to provide students with an in depth knowledge and understanding of the tasks of
strategic management and to be able to critically evaluate the key tasks of the corporate strategy process
and the different types of strategy to assist in gaining and retaining a competitive advantage. It aims to
provide students with the skills and knowledge necessary to assess and evaluate models of strategic
analysis, in relation to external environment analysis and internal organisation assessment.
Building on the core management skills of the previous Business management and Personal Development modules, the remaining modules in semester 7 and 8 of this pillar, promotes creative thinking, problem solving and team skills. These lifelong transferable learning skills allow our graduates to function effectively in a variety of complex and challenging business environments using a three-fold strategy that combines a strong practical, problem-based approach with a conventional lecture format and self-directed learning within the Strategy Formulation and Strategy. Implementation modules and the Operations Management modules. They aim to prepare students to operate at a professional executive level. The emphasis in both Strategy Formulation and Strategy Implementation is based on real world business cases, analysing problems, and developing solutions for these. The horizontal integration approach is pursued within the operations management modules via reflective practice whereby students are encouraged to draw on 'joined up thinking' and are challenged to seek out the linkages between Operations Management and other modules across the various pillars in this Accounting and Finance programme e.g., Economics & Finance; Compliance; Data Management; Decision Making; etc. The reflection is focused on the students’ thoughts, reactions, insights and questions. This reflective practice is assessed through a summative assessment based on a Reflective Journal, spanning several weeks of the final year. Peer to peer learning is also used in the form of Padlet – where students share their learnings by inserting material for all the class to see and discuss. Breakout Rooms - MS Teams allows groups of students to be assigned to virtual rooms to discuss various group tasks, this is often used as form of formative assessment. Speed Dating - A group project/assignment is summarised by the students into a two-page document. This document is then used by each student to teach many other students about their project in a "speed-dating" format. Please see attached as an example.
INTRODUCTION AND OVERVIEW
What do we mean by strategy?The relationship between a organisation's strategy and its business model.What makes an effective strategy?Why crafting and executing strategy are important tasks?
LEADING THE PROCESS OF CRAFTING AND EXECUTING STRATEGY
What does the strategy making process entail? An overview of the direction of strategy or tasks of the strategic management process: developing a strategic vision, a mission and a set of explicit values, setting objectives, crafting objectives, delivery and evaluation, corporate governance. The role of the Chief Executive Officer in the formulation and implementation of strategy.
EVALUATING AN ORGANISATION'S EXTERNAL ENVIRONMENT
The key elements of an organisation's external environment, thinking strategically about an organisation's industry and competitive environment, the key issues: the attractiveness of the industry, the competitive forces, factors driving industry change, the position of rivals in the industry, the strategic moves rivals are most likely to make, the key factors for future competitive success, the key tools and techniques available to help evaluate the external environment of the industry.
EVALUATING AN ORGANISATION'S RESOURCES AND CAPABILITIES
Identifying an organisation's competitively important resources and capabilities, can the organisation take advantage of market opportunities and overcome threats, are the organisation's prices and costs competitive: the concept of the value chain, does the organisation have competitive strength, how well is the organisation's strategy working?
STRATEGIES FOR COMPETITIVE ADVANTAGE
The five generic strategies, the contrasting features of the five generic strategies, strategies for changing the game: offensive strategies, defensive strategies, strengthening an organisation's market position via its scope of operations, horizontal mergers and acquisitions, vertical integration strategies, outsourcing strategies, strategic alliances and collaborative partnerships
The educational philosophy underpinning this pillar is guided by a student-centred approach to learning; encouraging learners to reach their full potential through active learning, creating opportunities for collaborative learning experiences and the provision of clear instruction to support learning. Modules in the Business management and Personal Development pillar are taught in a contextual and contemporary manner bringing the outside legal and business world into the classroom. To ensure the content is relevant and responsive to the needs of industry, regular reviews of the curricula are carried out updating them based on industry feedback and insights gained from our research activities. The overall arching theme to an effective learning environment is that it is supported in the development of the necessary skills and knowledge to enable our graduates to work professionally in a dynamic business environment. Therefore, all modules are delivered using a variety of teaching and learning methods, including lectures and tutorials, flip the classroom approach, case studies, practical assignments, project work and guest speakers.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 60 |
| Other Assessment(s) | 40 |