Autumn/Spring Semester

Methods of Assessment and Weighting

Rationale
The module is intended to provide students with a holistic understanding of the concept of strategic management within the context of the firm’s internal and external business environments. It provides students with a combination of theoretical and practical approaches to the formulation, implementation and control of business strategy either in a context of a single-business company or a multi-business company.

Aims
To enable students to :

• Understand theoretical approaches to the formulation, selection, implementation, and control of any particular strategy.
• Develop understanding of how to apply the theoretical concepts (point1) to real business contexts.
• Critically understand the methods, difficulties and limitations of formulating, implementing and controlling any particular strategy.
• Appreciate the importance of business strategy to organisational success.

 Upon successful completion of the module, students will be able to:

• Identify and classify different business practices of strategy formulation, implementation and control into relevant theoretical frameworks (K & C).
• Apply the relevant theoretical frameworks of strategy formulation, implementation and control to a real business context (P).
• Analyse the strategy of any given corporation drawing on sources of information publicly available (K, P, C & T).
• Develop understanding of a range of business problems that a corporation in any given industry may face (K & C).
• Exercise judgement over a range of strategic solutions available in order to overcome such problems (C & P).

Assessment Criteria 
In order to achieve the threshold standard for the award of credits for this module, the student must meet the following criteria related to the learning outcomes described above:
A satisfactory grasp with the knowledge of the relevant theoretical frameworks of strategy formulation, implementation and control.

• A satisfactory ability to apply the theoretical frameworks of strategy formulation, implementation and control to a real business context.An adequate ability to undertake the analysis of the strategy of any given corporation and to identify related business problems, showing familiarity with the subject matter.
• An adequate ability to apply the theory in a critical and constructive way in order to solve business problems.

Indicative Content

• Concept of Strategic Management.
• Concepts of Mission, Strategic Intent and Vision.
• Analysis of the remote environment.
• Analysis of the firm’s industry environment.
• Analysis of the firm’s operating environment.
• Analysis of the firm’s internal resources.
• Strategic choice, generic strategies, and grand strategies.
• Strategic choice in a context of multi-business company.
• Tactics for strategy implementation: adapting organisational structures and HR management.
• Tactics for strategy implementation: the role of leadership of culture.
• Mechanisms of strategic control and change

The teaching and learning strategy is designed to give students the opportunity to gain knowledge and understanding of the relevant theory and business practices and problems which are pertinent to the topics of strategy formulation, implementation and control. For this purpose, the reading of selected textbooks and case studies is essential.

The teaching and learning methods include the delivery of lectures and workshops. Whilst the lectures are mainly designed to illustrate and explain theoretical concepts and models of business strategy, the workshops illuminate the theoretical concepts and models by reference to and explanation of a range of specific case studies. Workshops are ultimately designed to develop a practical view of business strategy. The lecture precedes the workshop. Prior to attending the workshop, students are required to undertake the essential reading of the theory and relevant case study assigned in the lecture which immediately precedes the workshop.

Total student learning time 200 hours.

Recommended background reading

Ambrosini V, Johnson G and Scholes K, Exploring Techniques of Analysis and Evaluation in Strategic Management, Prentice Hall Europe , 1998.  (ISBN 01357 06807).

David FR, Strategic Management. Concepts and Cases. Prentice Hall, 2003.  (ISBN 01311 23726)

Dess GG and Lumpkin GT, Strategic Management. Creating Competitive Advantages. McGraw Hill, 2003. (ISBN 00711 51060)

De Wit B and Meyer R,  Strategy. Process, Content, Context. Thomson Learning, 2004.  (ISBN 18615 29643)

Harrison JS, Strategic Management Of Resources And Relationships. Concepts and Cases. Wiley, 2003.  (ISBN 04712 22925)

Hill CWL and Jones GR, Strategic Management. An Integrated Approach. Houghton Mifflin Company, 2004.  (ISBN 06183 09535)

Hitt MA,

Jenkins M, Ambrosini V and Collier N, Strategic Management. A Multi-perspective approach. Palgrave, 2002.  (ISBN 03337 39019)

Johnson G and Scholes K, Exploring Corporate Strategy: Text and Cases. 6^th ed. FT Prentice Hall, 2002.   (ISBN 02736 51129)

Lynch R, Corporate Strategy. FT Prentice Hall, 2003.   (ISBN 02736 58549)

Mintzberg H, Ahlstrand B and Lampel J, Strategy Safari. The complete guide through the wilds of strategic management. FT Prentice Hall, 1998. ISBN0-273-65636-8.

Mintzberg H, Lampel J, Quinn JB and Ghoshal S, The Strategy Process. Concepts, Contexts, Cases. Prentice Hall, 2003.   (ISBN 02736 5120X)

Hamel G and Prahalad CK, Competing for the Future,   Harvard Business School , 1996.  (ISBN 08758 47161)

Sanchez R and Heene A, The New Strategic Management. Organization, Competition, and Competence,  Wiley, 2004.   (ISBN 04713 44001)

Spulber DF, Management Strategy. McGraw-Hill Irwin, 2004.  (ISBN 00723 88099)

Thompson AA and Strickland AJ,  Strategic Management. Concepts and Cases. McGraw-Hill Irwin, 2003.  (ISBN 00711 21323)

Thompson JL, Strategic Management. Thomson Learning, 2001.  (ISBN 18615 25877)

Wickhamn PA, Financial Times Corporate Strategy Casebook. FT Prentice Hall, 2000.  (ISBN 02736 43428)

Whittington R, What is Strategy – and does it matter?,  Thomson, 2001.  (ISBN 18615 23777)

 Other Indicative Reading

Business Strategy Review

California Management Review

Harvard Business Review

Long Range Planning

Sloan Management Review

Strategic Management Journal

The International Journal of Hospitality Management

Tourism and Management

Business Week

Financial Times

Economist

Required reading

Pearce J A and Robinson R B. Strategic Management. Formulation, Implementation, and Control. McGraw-Hill Irwin, 2004/05.