MN50699: Strategy
[Page last updated: 23 August 2022]
| Academic Year: | 2022/23 |
| Owning Department/School: | School of Management |
| Credits: | 6 [equivalent to 12 CATS credits] |
| Notional Study Hours: | 120 |
| Level: | Masters UG & PG (FHEQ level 7) |
| Period: |
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| Assessment Summary: | CW 100% |
| Assessment Detail: |
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| Supplementary Assessment: |
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| Requisites: | |
| Learning Outcomes: | By the end of this unit, the student should be able to:
* display a sound understanding of concepts and theories of strategic management and be able to appraise models and evidence critically; * determine how the external environment (economic, legal, social, political) in which organizations operate conditions strategy in the firm; * evaluate and interpret new information and theory, and engage in problem solving, thereby demonstrating a capacity to think clearly, logically and practically about a range of strategic business issues; * analyse and characterise the nature of the strategic situation facing a firm or other organisation; * identify feasible strategic responses to that strategic problem context; * assess strategic responses for suitability; * apply this knowledge and advocate a strategic option after assessment. |
| Aims: | * provide students with an in-depth appreciation of strategic management thinking and decision-making; * explore the many, wide ranging issues that comprise strategy and how they may be resolved; * help develop techniques associated with the powers of strategic thinking, analysis and judgement. |
| Skills: | Intellectual Skills
* systematic understanding of organisations, the internal and external context in which they operate and how they can be effectively managed (TA) * 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); * critical awareness of current issues and frameworks in management (FA); * understanding of theoretical concepts and frameworks that enable the student to meaningfully link theory and practice, and the ability to critically appraise both theory and practice (TFA) Professional Practical Skills * deal with complex issues and make sound judgements in the absence of complete information, and to communicate their conclusions clearly and competently to a range of audiences (FA); * assess and further develop the strategic position of an organization under conditions of complexity and uncertainty (F); * evaluate the current standing of an organization and practically contribute to the attainment of the company's strategies and objectives (TFA); * apply practical decision-making methods and tools at both tactical and strategic levels (TFA); * operate effectively within teams and assume leadership roles where appropriate(F) Transferable/Key Skills * ability to develop a holistic perspective on an organization and an understanding of how the different functions relate to one another (TFA); * appreciation and in-depth understanding of the resources and competences required for successful cross-functional management in organisations including enterprise skills (TA); * ability to conduct in-depth research into management and business issues (FA). Personal/Interpersonal * facility to communicate including presenting and marketing themselves and their ideas; preparation and production of effective management analysis (F); * ability to recognise intra/entrepreneurial risks and opportunities and to use enterprise skills to advantage established and start-ups. (F). |
| Content: | Strategic Management is concerned with those activities and processes that affect the longer-term success, or otherwise, of an organisation. Strategic management is a broad field of study, drawing on a wide range of disciplines, including economics, sociology and psychology. In this course our main emphasis is on working with analytical concepts and methods which can inform decisions about how a firm might establish and leverage sustainable competitive advantage, compete in particular markets (competitive strategy) and/or develop the range of businesses and activities it is engaged in (corporate strategy). Also, the course covers contemporary challenges that firms face regarding the integration of social activities in their strategy and the influence of new digital technologies on firms' strategies, processes and interactions.
Beginning with an introduction to the field, including mechanisms and processes of strategic decision making, the course covers the following areas: * Assessing the competitive environment and competitive dynamics * Assessing, developing, maintaining and renewing strategic capabilities * Competitive/business level strategy * Corporate strategy. |
| Programme availability: |
MN50699 is Compulsory on the following programmes:School of Management
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