School of Management, Unit Catalogue 2007/08 |
MN30066 Strategic management |
| Credits: 6 |
| Level: Honours |
| Semester: 2 |
| Assessment: CW30EX70 |
| Requisites: |
| Before taking this unit you must take MN30048 |
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Aims: The aim of the course is to give BBA students practice in using the knowledge, techniques, and patterns of thought, learned in MN30048, to carry out strategic analysis and options generation in a variety of 'real world' firm contexts.
Learning Outcomes: 1. To increase familiarity with the principal concepts, frameworks, and techniques of strategic management. 2. To gain expertise in applying these concepts, frameworks, and techniques in order to: * understand the reasons for good or bad performance by an enterprise, * generate strategy options for an enterprise, * assess available options under conditions of imperfect knowledge, * select the most appropriate strategy, and * recommend the best means for implementing the chosen strategy. 3. To integrate the knowledge learned in previous and parallel courses. 4. To develop capacity as a general manager in terms of: * viewing business problems from a holistic perspective, * assessing the marketplace from a local to global vantage, * developing original and innovative approaches to strategic problems, and * developing business judgment. 5. To improve skills of oral and written business communication. 6. To develop team skills including interpersonal communication and team management. Skills: Intellectual skills: * a systematic understanding of organisations, the internal and external context in which they operate and how they can be effectively managed (TA) * the facility to apply subject-specific knowledge into a range of complex situations, taking into account the overall implications for the other areas of the business (TFA); * a critical awareness of current issues and frameworks in management (FA); * a conceptual understanding of theoretical concepts and frameworks that enables the student to meaningfully link theory and practice and the ability to critically appraise both theory and practice (TFA); * an understanding of appropriate research and methodological techniques that allow detailed investigation into topical business issues and ability to use these skills to produce professional, critical reports and presentations in business and management (TA). Professional Practical skills The ability to: * analyse the main features of industry and market environments (TFA) * identify/determine a firm's position and strength within an industry/market (TFA) * assess the positioning and strategies of firm competitors (FA) * identify the firm strategy currently pursued (TFA) * understand the competencies a firm uses in its strategy (FA) * assess firm financial performance, and understand the basic features of its production system and production technology and their implications for the strategy of the firm (FA) Transferable/Key skills The ability to: * develop a holistic perspective on an organization and an understanding of how the different functions relate to one another (TFA); * develop an in-depth understanding of the resources and competences required for successful cross-functional management in organisations (TA); * conduct in-depth research into management and business issues (FA). * listen and analyse in real-time (TFA) * enlarge the debate by adding value to that which has been presented, including: (TFA) - sharpening the focus and/or interpretation of key strategic issues, - integrating information presented but not utilised in the analysis, and - constructively challenging conclusions, where appropriate, by offering insightfully derived strategic action alternatives * synthesise debated issues and provide analysis and closure on an extemporaneous basis (FA) Personal/Interpersonal The ability to: * communicate, including presenting and marketing themselves and their ideas (FA) * prepare and produce effective business presentations (TFA) * engage in critically constructive debate (FA) * recognise intra/entrepreneurial risks and opportunities (FA) * develop and manage team relationships (FA) * use enterprise skills to advantage established and start-up firms (F) Content: Case studies are continuously analysed during the course. The objective of case analysis is to apply strategic theory and models relevant to the strategy focus of that week. Each week students either present the case as a team, or provide spontaneous analysis and critique of the case and presentation as a team, or participate individually in the open debate. Types of strategy focus typically included in the course are: * industry analysis & evolution * scale-based strategy * non-scale strategy * vertical integration * horizontal integration * diversification * alliances & joint ventures * mergers & acquisitions * technology-based strategy * global strategy * rejuvenation strategy * new venture creation strategy. |