Autumn

Unit(s) of Assessment	Weighting Towards Module Mark (%)
Strategy Project	60
Group investigation and presentation of results	40

Most of the literature and research on strategy relates to the management of large, slow to change corporations. In a world were change is continuous and disruptive, such organisations and methods of strategic management are being called into question and in this module  attention is focused on the entrepreneurial organisation and how it needs to be managed, strategically,  if it is to  compete successfully and retain its entrepreneurial drive and focus. For  this  to occur, strategy has to be more flexible and spontaneous with the manager acting more in the role of the jazz band leader than the classical conductor, as has been traditional. The module  considers how the management tools used in traditional corporate strategy  can be adapted and used to formulate entrepreneurial strategy  and   demonstrates the structures and value systems that need to be in place in order to create entrepreneurial organisations, whether large or small, private or public sector.

None

The module aims to introduce the participants to the theory and practice of entrepreneurial strategy, at the same time providing them with an opportunity to apply theory to practice, thereby enabling them to learn by doing. As they will be working in teams, the participants will have the opportunity to learn about entrepreneurial teamworking and will be given opportunities to develop their presentation and communication skills.

On successful completion of this module the students will be able to:

• understand the theories of strategy and entrepreneurial strategy and be able to apply them through the formulation, implementation and evaluation of a strategic plan for an organisation
• Identify  the tools used to develop strategy and  to apply these in an entrepreneurial context.
• Work as a member of an entrepreneurial team and to reflect on their role in the team
• present their strategy orally and in writing

The  Concept of  Entrepreneurial Strategy 
An introduction to strategic thinking 
The fallacies of Strategic Planning
The fallacy of predetermination
The fallacy of Detachment 
The fallacy of Formalisation
Entrepreneurial strategy
Introduction to Strategy for SMEs - the conceptof entreprenurial strategy and introduction to strategic thinking
Strategic Management Process - evolution in strategic management theories; strategic approaches; process of strategic management in SMEs
Strategic Formulation and Functional Strategies - vision, mission and objectives; developing strategy introduction to competitive advantage; corporate, business and functional strategies
Environmental Competitive Analysis - the importance of environmental analysis; PESTEL; SWOT;
Porter's Five Forces
Entrepreneurial Resources & Capabilities - using the core factors of production; value added and value-chain analysis
Strategic Planning & Budgeting - methods of control and types of business planning
Strategic Thinking & Strategic Management Critique - the fallacy of formalisation, of detachment, and of strategic planning.
Post-start-up: Entrepreneurial Success and Failiure - dealing with a troubled company and options for the successful enterprise
Current Topics in Entrepreneurial Strategies

The teaching and learning strategy is designed to benefit passive as well as active learners. Apart from catering for the needs of both types of learner, and, therefore, providing  a  teaching and learning strategy that is fairer and does not disadvantage either group, it is intended to promote sound understanding of theory and how it may be applied in practice. Whilst, in Honey and Mumford’s terms, the pragmatist and activist learners are given the opportunity to experience the theorist and reflector learning styles, the theorists and reflectors are able  to learn by doing, thereby  helping develop  in them the attributes of the activist and pragmatist. This is seen as important in a programme that is intended to educate students “for” entrepreneurship rather than simply educating them “about” it. Hence it carries more weight in the assessment process. 

The teaching and learning methods include 

• Interactive lectures
• Guest lectures (role models)
• Case analyses
• Group projects
• Discussion groups 
• Presentations

Core Text

Analoui, F. and Karami, A., (2003), Strategic Management: in Small and Medium Enterprises. London : Thomson. 

Recommended

Carter, S. and Jones-Evans, D. (2006) Enterprise and Small Business, 2nd Edition, Prentice Hall
Rae, D. (2007) Entrepreneurship: From Opportunity to Action, Palgrave.
Lasher W.R. (1999) Strategic Thinking for the Smaller Businesses and Divisions. Oxford : Blackwell
Hitt, M.A., , R.D. Camp, S.M. and Sexton,D.L. (2002), Strategic Entrepreneurship: Creating a  New Mindset. Oxford : Blackwell 
Meyer, G.D. and Heppard, K.A. (2000), Entrepreneurship as Strategy: Competing on the Entrepreneurial Edge.  London : Sage 
Whickham, P.A. (2004) Strategic Entrepreneurship. Harlow :Prentice Hall. 
Wilson, P.  and Bates, S. (2003), The Essential Guide to Managing Small Business Growth. Chichester : Wiley

Supporting 

Grundy, T. and Brown, L (2002), Be Your Own Strategy Consultant: Demystifying Strategic Thinking. London : Thomson 
Hitt, M.A., , R.D and Hoskisson, R.E. (2005), Strategic Management: Competitiveness and globalisation. London : Thompson (especially chapter 13). 
Jenkins, M., and Ambrosini, V. (2002), Strategic Management: a multi-perspective approach. Basingstoke : Palgrave. (especially chapter 12) 
Mintzberg, H., (1994), The Rise and Fall of Strategic Planning. London : Prentice Hall 
Mintzberg, H., Lampel, J. Quinn, J.B. and Goshall, S., (2003), The Strategy Process: Concepts, Contexts and Cases. Harlow : Pearson (especially chapter 13)
Stacey, R.D. (2003), Strategic Management and Organisational Dynamics: The Challenge of Complexity. London : Prentice Hall
Thompson, J.L. (2001), Strategic Management. London : Thomson. (especially chapters 12 and 13).
Todeva, E. (2006), Business Networks: Strategy and Structure, New York: Taylor & Francis.
Whelen, T.L. and Hunger, J.D, (2002), Strategic Management and Business Policy. London : Pearson (especially  chapter 12).

Other Indicative Reading

Enterprise and Innovation Management Studies 
Entrepreneurship and Regional Development 
Entrepreneurship Theory and Practice 
International Entrepreneurship and Management Journal 
International Journal of Enterprise and Innovation 
International Journal of Entrepreneurship Behaviour and research 
International Small Business Journal 
Journal of Business Venturing 
Journal of Organisation Change Management 
Journal of small Business and enterprise Development 
Small Business Economics 
Strategic Management Journal `

19.03.2008