707 strategic management[1]
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6.7 Strategic Management
Number: 707 Version: 1 Update: 0
Credits: 15 Level: 7
Relationship with other modules
Prerequisite Modules: None
Recommend Previous Study: None
Co-requisites: None
Prohibited Combinations: None
Post-requisite Modules: None
Suggested Learning Hours
Lectures Tutorial Seminar Laboratory Private Study Total
12 24 114 150
Overview
The aim of this module is to build on knowledge and understanding developed in earliermodules to enable students to develop the skills required in the analysis and decisionmaking process involved in the formulation of a strategic direction of an organisation.
The aims of this module are to enable students to:
develop a critical understanding of the main areas of study in corporate strategyand characteristics of strategic decisions;
appreciate, recognise and critically evaluate the practical issues and problems ofimplementing strategy in an organisational context;
understand the significance and sources of competitive advantage; explore various approaches for the development of successful corporate strategy
in an organisational context;
appreciate the importance of issues in ethics and corporate social responsibility ina global business environment.
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Learning Outcomes
Knowledge andUnderstanding
1. Critically analyse what is meant by strategy and strategicmanagement
2. Critically analyse an organisations internal and external
environment, its resources and capabilities3. Identify and critically evaluate the role of organisational
stakeholders, structures and processes and how stakeholdersexpectations shape strategy
4. Appreciate the process of strategic analysis and sources ofcompetitive advantage
5. Appreciate the process of strategy development, evaluation,selection and implementation
6. Appreciate the various strategic choices available to anorganisation
7. Appreciate the role of business ethics and corporate social
responsibility in formulating management strategy
Intellectual Skills 1. Appreciate the importance of strategic management and thesignificance of becoming a strategic thinker, manager, planner
2. Critically appraise the nature of the external environment inwhich the organisation must position itself
3. Critically evaluate the sources of information, in formulatingsuccessful strategy
4. Develop critical awareness of various legal, cultural, social andethical issues associated with developing and implementing astrategy aimed at sustaining competitive advantage whilst
operating in a global environmentPractical Skills 1. Ability to think strategically in an organisational context
2. Develop and implement a strategic plan for an organisation
Transferable Skills 1. Develop critical thinking skills
Syllabus
Unit No Title Proportion Content
1 Overview of
Strategic
Management
2/12 Introducing the concepts: why isstrategic management important?
Vocabulary of strategy The basics of strategy and strategicmanagement
The strategic management process Approaches to strategy formulation Deliberate and emergent strategies Strategic management in different
contexts Evaluating the concept of strategic
management, strategic thinking
Understanding the competitive
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environment2 Analysing
Resources,
Capabilities and
Core
Competencies
3/12 Assessing opportunities and threats :doing an external analysis
Assessing strengths and weaknesses :doing an internal analysis
Expectations and purposes Stakeholder analysis, expectations andorganisational purpose
Organisational vision, missionstatements
3 The Foundations
of Competitive
Strategy
4/12 The need for a clear and understoodfoundation, generic or basic position
Understanding sources of competitiveadvantage: the need to be able toestablish a unique position
Strategic choice: when to compete andwhen to cooperate4 Strategy
Formulation and
Implementation
3/12 The strategy making process within anorganisation
Different steps in the formulation ofstrategy
Role of strategic planning in strategymaking
Strategy evaluation, selection andimplementation
Causes of failure Monitoring strategic performance Strategic change Business ethics and corporate
responsibilityAssessment Type Weighting Outcomes Assessed
Coursework Assignment 70%
Global Examinations 30%
Supporting Materials
Essential Textbook Johnson, Scholes and Whittington (2008), Exploring CorporateStrategy: text and cases, 8th Edition Prentice Hall, ISBN:1405887338
Other Materials Barney J. (2007) Gaining and Sustaining Competitive Advantage,Prentice Hall, ISBN: 0131470949
Coutler M. (2008), Strategic Management in Action, 4th EditionPrentice Hall, ISBN: 0132277476
Cummings S. and Wilson D. (2003) Images of Strategy, Blackwell
Publishing, ISBN: 0631226109De Wit R, and Meyer R, (2004) Strategy: Process, Content,
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Context: an international perspective, 3rd Edition, South-WesternCollege, ISBN: 0324282710
Finlay P. (2000), Strategic Management : an introduction toBusiness and Corporate Strategy, FT Prentice Hall, ISBN:0201398273
Ghemawat P. (2007) Redefining Global Strategy,: Crossing
Borders in a World Where Differences Still Matter, HarvardBusiness School Press, ISBN: 1591398665
Haberberg A, and Rieple A. (2001), The Strategic Management ofOrganisations, FT Prentice Hall, ISBN: 0130219711
Johnson and Scholes (2000), Exploring Public Sector Strategy,FT Prentice Hall, ISBN: 0273646877
Lynch R. (2006), Corporate Strategy, 4th Edition, FT Prentice Hall,ISBN: 0273701789
Mintzberg, Alstrand and Lampel (2001), Strategy Safari, FTPrentice Hall, ISBN: 0273656368
Mintzberg, Quinn and Ghoshal (2002), The Strategy Process, FTPrentice Hall, ISBN: 0131227904
Pettinger R. (2004), Contemporary Strategic Management,Palgrave Macmillan, ISBN: 1403913277
Segal-Horn S. (2004), The Strategy Reader, 2nd Edition,Blackwell Business, ISBN: 1405126876
White C. (2004) Strategic Management, Palgrave Macmillan,ISBN: 1403904006
Whittington R. (2000), What is Strategy and does it matter?Thomson Learning, ISBN 1861523777
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