Strategic Management

2022/2023

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Management

Course type:

Compulsory course

When:

1 year, 1 module

Instructors

Olga, Ergunova

Khazieva, Natalia

Course Syllabus

Abstract

In whatever position you will be employed later, it is important to understand the strategy of the organization you work for. This course provides an introductory overview of the formulation and implementation of such organizational strategies. You learn how to analyze the strategic position of an organization and how to think about strategic choices. Against the backdrop of these concepts, you will learn about recent sociologically informed concepts in strategy research (e.g., strategy-as-practice). After successful completion of this course, you will be able to discuss traditional heuristics for strategy making and reflect upon the practice of strategy making itself. You will know today ́s internationally used terms and concepts of organizational strategy, you will be able to discuss on their base, and to contribute new views on strategy formulation to the organization you work for in the future.

Learning Objectives

• Analyze the external business environment and its impact on strategy formulation
• Analyze the internal company environment and its impact on strategy formulation
• Identify strategies in use and develop appropriate strategic alternatives
• Select, support and defend a proposed strategy
• Develop a strategy implementation plan

Expected Learning Outcomes

• • Evaluate different approaches to strategising activity, including analysis, issue- selling, decision-making and communicating • Evaluate different approaches to environmental forecasting. • Construct alternative scenarios in order to address possible environmental changes • Impement key elements in various common strategy methodologies, including strategy workshops, projects, hypothesis testing and writing business cases and strategic plans
• • Undertake stakeholder analysis in order to identify the power and attention of different stakeholder groups. • Compare the strategic significance of different ownership models for an organization’s strategy. • Evaluate the implications for strategic purpose of the shareholder and stakeholder models of corporate governance. • Relate corporate social responsibility and personal ethics to strategy.
• • Implement the broad macro-environment of organisations in terms of political, economic, social, technological, ecological and legal factors (PESTEL).
• • Use Porter’s Competitive Five Forces Framework to analyse industries or sectors: rivalry, threat of entrants, substitute threats, customer’s power and supplier power. • Define industry attractiveness and identify ways of managing these. • Identify different industry types and how industries develop and change in industry life cycles . • Compare strategic and competitor positions in terms of strategic groups, market segments and the strategy canvas.
• • Identify organisational resources and capabilities and how these relate to the strategies of organisations. • Idenify how resources and capabilities might provide sustainable competitive advantage on the basis of their Value, Rarity, Inimitability and Organisational support (VRIO). • Consider how resources and capabilities can be developed based on dynamic capabilities.
• • Assess business strategy in terms of the generic strategies of cost leadership, differentiation, focus and hybrid strategy. • Identify business strategies suited to hypercompetitive conditions. • Assess the benefits of cooperation in business strategy. • Apply principles of game theory to business strategy. • Apply business model components: value creation, configuration and capture.
• • Identify alternative strategy options, including market penetration, product development, market development and diversification. • Distinguish between different diversification strategies (related and conglomerate diversification) and evaluate diversification drivers. • Assess the relative benefits of vertical integration and outsourcing.
• • Assess the internationalisation drivers and potential of different markets. • Identify sources of competitive advantage in international strategy, through both 
exploitation of local factors and global sourcing. • Expoilt the difference between global integration and local responsiveness and 
four main types of international strategy. • Assess the relative merits of different market entry strategy modes, including joint ventures, licensing and franchising and wholly owned subsidiaries.
• Implement new approaches to fast changing world.
• • Anticipate key issues facing entrepreneurs in opportunity recognition, in making choices during the entrepreneurial process and in various stages of growth, from start-up to exit. • Identify and respond to key innovation dilemmas. • Anticipate and to some extent influence the diffusion (or spread) of innovations. • Decide when being a first-mover or an imitator and follower is most appropriate in innovation.
• • Identify and compare main organisational structural types in terms of their strengths and weaknesses. • Identify key issues in designing organisational control systems (such as planning and performance targeting systems). • Recognise how the three strands of strategy, structure and systems should reinforce each other in organisational configurations.
• • Formulate the strategy of an organization in a “strategy statement” • Assess different people’s roles in strategy work. • Appreciate the importance of different organizational contexts, academic disciplines and theoretical lenses to practical strategy analysis.

Course Contents

• Introduction and Overview of Strategic Management
• Strategic Foresight
• Communicating Organizational Purposes. Shareholders & stakeholders
• The environments - PESTEL
• The industry – forces and dynamics
• Internal Analysis and Competitive Advantage
• Approaches to Business Strategy and models
• Selecting Corporate-Level Strategies
• Competing strategies in International Markets
• Strategic Implications of Changes in the World
• Strategic Renewal (Entrepreneurship and innovation)
• Organizing and strategy

Assessment Elements

• Various approaches to SM
• Discussion Business Environment
• Project
• Sceme of course
• Exam

Interim Assessment

• 2022/2023 1st module
  0.4 * Exam + 0.3 * Project + 0.1 * Sceme of course + 0.1 * Various approaches to SM + 0.1 * Discussion Business Environment

Bibliography

Recommended Core Bibliography

• Exploring strategy : text and cases, Johnson, G., 2017
• Johnson, G., Whittington, R., Scholes, K., Angwin, D., & Regnér, P. (2017). Exploring Strategy (Vol. Eleventh edition). Harlow, England: Pearson Education. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1454974

Recommended Additional Bibliography

• Johnson, G. (2013). Exploring Strategy Text & Cases: Vol. 10th edition. Pearson.

Authors

• TYULKOVA NATALYA EVGENEVNA
• ERGUNOVA OLGA TITOVNA
• KOCHETKOVA DARYA VADIMOVNA