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.
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
|Module Content & Assessment