This module provides an introduction to, and overview of, strategic management for honours degree level students. The module provides students with an opportunity to develop an understanding and appreciation of the key concepts, theories and practices in strategic management.
Strategic Management is a big picture course. It cuts across the whole spectrum of business and management. The centre of attention is the total enterprise – the industry and competitive environment in which it operates, its long-term direction and strategy, its resources and competitive capabilities, and its prospects for success. The module demonstrates that good strategy-making and good strategy-execution are the key ingredients of organisation success and the most reliable signs of good management. The mission of the module is to explore why good strategic management leads to good organisation performance, to present the basic concepts and tools of analysis, and to drill participants in the methods of crafting a well-conceived strategy and executing it competently. Thus, this module exposes students to the key concepts, theories, practices and perspectives in strategic management, and, in so doing, increases students critical thinking ability.
Strategic decisions, thinking strategically and critical thinking
Understanding strategic management and the nature of strategy. Business models. The corporate mission, vision and values. Perspectives and paradoxes on strategic thinking and decision-making. Critical thinking in strategic management.
Exploring organisational purpose. Shareholder theory versus stakeholder view of the firm. Corporate governance. Business ethics. Profitability versus societal responsibility. Sustainability.
Analysing the environment
Analysing the external environment. The application of five forces model and PEEST analysis. Internal organisational analysis. Resource-based view of the firm. VRIO analysis. Resources, competencies and strategic capabilities. Distinctive competencies, competitive advantage and profitability.
Functional-level strategy. The building blocks of a competitive advantage. Business-level strategy. Competitive positioning strategies. Blue ocean strategy. Strategy in the global environment. Corporate-level strategy.
Strategy formation and implementation
Strategy formation. Strategic planning. Implementing strategy through organisational design and architecture. Organisational structure, systems, commitment and culture.
The module is highly interactive and class participation and self-directed learning are critical requirements. Lectures are combined with case studies, class discussions, individual and teamwork activities, reflections, video material, article/newspaper/periodical readings, among others. Current issues relevant to business, current affairs and society will be used to support students learning. Case studies play a central role in the module developing students’ capacity to analyse strategic management issues, apply concepts and analytical tools and make informed decisions.
|Module Content & Assessment