| Module Code: ECO2056 |
Module Title: CORPORATE STRATEGY |
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Module Provider: Economics
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Short Name: ECO2056
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Level: HE2
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Module Co-ordinator:
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Number of credits: 15
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Number of ECTS credits: 7.5
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| Module Availability |
| Spring |
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module
Mark (%)
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| 2 hour Examination |
70
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| Coursework 1 |
15
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| Coursework 2 |
15
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Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module |
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| Module Overview |
The module examines the complex nature and performance of firms in modern economies, analysing how firms make strategic and tactical decisions to achieve competitive advantage |
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| Prerequisites/Co-requisites |
| None |
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| Module Aims |
The module aims are to help students:-
- to understand how firms seek to achieve competitive advantage by responding both to the business environment and the firm's resources
- to understand practical management issues relating to the firm's objectives, the markets it will serve and associated decisions of product, price and promotion
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| Learning Outcomes |
By the end of the module students will be able to:-
- discuss the difference between the neoclassical theory of the firm, managerial theories and behavioural theories of the firm
- evaluate alternative approaches to competitive advantage: environmental 'fit' and resourse based 'stretch'
- discuss how/why economic theory outcomes may differ from business practice in respect of product, promotion and pricing strategies and tactics
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| Module Content |
Indicative topics:-
- overview: alternative theories of the firm; managerial discretion and non-profit maximising behaviour; the principal agent issue, stakeholder theory and social responsibility
- competitive advantage: Porter's generic strategies, environmental 'fit' and resource based theory
- the marketing mix: product positioning, product analysis; the role promotion, pricing theory and pricing practices
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| Methods of Teaching/Learning |
A series of one to two hour lectures supported by group discussions and min-case studies. Formative assessement will be through feedback on levels of understanding in the mini-case studies which will challenge students' ability to apply concepts to real business situations. Summative assessment will be through coursework and examination
Lecture notes will be made available for each session and will also be available on ULearn or departmental teaching materials
Assessment Strategy:
The coursework will be composed of two in-course activities. The first will provide students with a list of short answer questions typical of those posed in Part A of the examination. Two of these will be presented to the students in the form of a mock exam. this will provide students with formative assessement of their understanding of basic concepts and models, indicated int he learning outcomes and module content. The second in-course activity will mirror Part B of the examination. Once again students will be given a number of in-depth questions to research from which two will be chosen in the form of a mock exam. These questions will require a more evaluative approach to the module content and satisfy the higher level elements of the learning outcomes. Both of these courseworks have the benefits of consolidating knowledge and allowing the student to plan how they will deal with the demands of the final examination |
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| Selected Texts/Journals |
Essential text:-
P. Cashian, Economics, Strategy and the Firm, 2007, Palgrave-Macmilan
Recommended reading:-
Rickard, S, The Economics of Organisations and Strategy, 2006, London, McGraw-Hill
Roberts, J, The Modern Firm, Orgainsational Design for Performance and Growth, 2004, Oxford University Press
Brassington, F, Pettitt, S, Principles of Marketing 2006, 4th edition, Prentice Hall
Background reading
Johnson, G, Scholes, and Whittington, R, Exploring Corporate Strategy 2008, 8th edition, Prentice Hall
Wilson, R M S, Strategic Marketing Management, 2005, Butterworth Heinemann
Kay, J, Foundations of Corporate Success, 1993, Oxford
www.brint.com
Resourse for Business, Information Technology, Finance & Risk Management
www.open.ac.uk
Free learning resources from The Open University
WWW.businessballs.com/changemanagement.htm
Principles, process, tips and change theories |
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| Last Updated |
10 March 2011 |
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