Strategic Management (Decision Making) is concerned with the overall purpose and scope of the organisation to meet the expectations of major shareholders and add value to different parts of the enterprise. This module is positioned at a crucial stage in the programme as it establishes the foundation of the strategic management discipline both in theory and practice. This module focuses on understanding the strategic management process and developing the necessary knowledge, skills and confidence to make key strategic decisions.
Combining both a critical appreciation of contemporary strategic management issues and a strategy process approach, this module aims to provide an understanding of the complexities of designing, implementing and evaluating strategies in organisations. It develops and extends the participant’s ability to effectively utilise the main analytical techniques and conceptual frameworks provided by contemporary strategic management. The practical application of strategic management concepts and theories through simulations and case work develops the learner’s analytical and leadership skills, decision making ability and his / her understanding of the business issues involved in managing and leading organisations.
Nature of Strategy and Strategic decisions:
Strategic management in different contexts. Perspectives on strategic thinking. Emergent versus deliberate. Values in tension. Paradox in strategic thinking.
Organisational purpose. Stakeholder view of the firm. Corporate governance and business ethics. The issue of corporate mission. Profitability versus societal responsibility. Sustainability.
Analysing the Environment:
Auditing environmental influences. PESTEL. Five forces model. Strategic group analysis. Market attractiveness and business strength. Value chain analysis. Benchmarking. SWOT analysis.
Leadership and Governance issues. Resources, competences and strategic capability; Resource based view (RBV) of the firm. Market adaptation versus resource leveraging, Dynamic Capabilities, The Business Model
Business Strategy:
Corporate, Business and Functional level strategies: Generic competitive strategies. Cost leadership. Differentiation. Expansion versus diversification. Types and risks inherent in diversification. Organic growth. Mergers and acquisitions. Joint ventures and alliances. Networks and a network perspective.
Strategy Formation:
Strategic Planning, Strategy as Practice, Strategising, Processes, Sensemaking, Discursive Competence, Attention, the Role of the Middle Manager
Strategic Renewal:
Managing Chaos. Change and the learning organisation. Business process reengineering. Knowledge management. Codification versus personalisation.
Strategic Thinking & Creativity:
Leadership and Strategy, Understanding Business Model Innovation and Ecosystems, Individual versus Organisational Creativity
Strategy Implementation:
Structure and Systems, Organisational Commitment, Culture, Organisational Power and Politics
The module is highly interactive and class participation and self-directed learning are critical requirements. Students are constantly required to develop their critical thinking skills and to make decisions. The overall approach in this module is decision orientated. Formal lectures will be supplemented by simulations, case studies and group work. The instructor acts as a facilitator, balancing the needs of the student to acquire the necessary knowledge of the discipline with the requirement to nurture a competence to apply these concepts and make informed decisions in a real world context.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 50 |
| Other Assessment(s) | 50 |