Introductory description

The dynamic and complex business environment in which most organisations now operate requires management and employees who are more aware of the impact of strategic decisions on the organisation and its stakeholders. The purpose of this module is to introduce and understand contemporary and traditional schools of strategic thinking, and to consider the strategy formulation process in the context of both competitive structuralist strategy and Blue Ocean reconstructionist strategy. A major part of the module will involve participants in an online strategy simulation, which offers real-world business planning and strategic decision making experience in a competitive group environment.

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Analysis of the theory of strategy from Porterian to Blue Ocean, strategic evolution, the different schools of strategy, and an introduction to key strategic concepts and terminologies.
The theory and practice of strategy formulation, implementation and evaluation using linear and non-linear methods, including application of relevant models, frameworks and processes.
The process of strategic positioning of organisations, mission and vision statements; organisational aspirations and values; objectives;
Introduction to dynamic capabilities, and identification of threshold competencies and capabilities, and distinctive competencies.
The role and purpose of strategic planning: Emergent and deliberate strategies, explanation of types of strategic thinking-aggressive, competitive, conservative and defensive strategic stances.
Future directions of markets and competition; future needs of customers; gaining and maintaining competitive advantage.

Learning outcomes

By the end of the module, students should be able to:

• 1. Understand and interpret organizational situational analysis in the context of the external business environment, by critical analysis of the macro-environment.
• 2. Critically analyse the evolution and philosophy of business strategy and the different strategic planning and management processes
• 3. Critically assess linear strategy formulation with e-commerce business strategy formulation.
• 4. Critically analyse the strategic capabilities, competences and strategic position of an organisation.

Indicative reading list

MODULE TITLE: BUSINESS STRATEGY & STRATEGIC MANAGEMENT
BOOK LIST

EXPLORING STRATEGY: TEXT AND CASES Johnson, G., et al
ISBN13: 9781292002545 10th Edition (2013) Pearson
STRATEGIC MANAGEMENT: A COMPETITIVE ADVANTAGE APPROACH; CONCEPTS AND CASES
David, F. R., and David F.
ISBN13: 9781292148496 16th Edition (2016) Pearson
COMPETITIVE ADVANTAGE Porter, M.E. (1985) Free Press
STRATEGY SAFARI Mintzberg, H., Ahlstrand, B., Lampel, J.
ISBN13: 9780273719588 2nd Edition (2009) Pearson
THE STRATEGY PROCESS: CONCEPTS, CONTEXT AND CASES Mintzberg H., et al.
ISBN13: 9780273716280 5th Edition (2014) Pearson
ADVANCED STRATEGIC MANAGEMENT: A MULTI-PERSPECTIVE APPROACH
Jenkins, M., Mowbray, N., Ambrosini, V.
ISBN13: 9781137377944 3rd Edition (2015) Palgrave
BLUE OCEAN STRATEGY Chan Kim, W., and Mauborgne, R.
ISBN13: 9781625274496 Expanded edition (2015)Harvard Business Review Press

JOURNAL PAPERS
Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance. Author: David J. Teece
Strategic Management Journal Volume 28, Issue 13 December 2007 Pages 1319–1350
The Applicability of Porter’s Generic Strategies in the Digital Age: Assumptions, Conjectures, and Suggestions. Authors: Eonsoo Kim, Dae-Il Nam and J. L. Stimpert
Journal of Management Volume 30 Issue 5 2004 Pages 569-589
Dynamic Managerial Capabilities: Review and Assessment of Managerial Impact on Strategic Change. Authors: Constance E. Helfat, Jeffrey A. Martin
Journal of Management Volume 1 Issue 5 2015 Pages 1281–1312

View reading list on Talis Aspire

International

The module is taught in 6 different countries, and has a distinct international delivery style and application that is meaningful and of practical use in the context of international employability in a variety of market sectors.

Subject specific skills

Knowledge of corporate and business unit strategy and key strategy formulation, implementation and evaluation processes and decision areas; strategic resources and capabilities; practical application of strategy models and concepts.

Transferable skills

Problem solving: Use rational and logical reasoning to deduce appropriate and well-reasoned conclusions.
Retain an open mind, optimistic of finding solutions, thinking laterally and creatively to look beyond the obvious.
Knows how to learn from failure.
Self-awareness: Actively seek opportunities for personal development in the context of employment and life.
Aware of personal strengths and emotional intelligence
Reflect on learning, seeking feedback on and evaluating personal practices, strengths and opportunities for personal growth.