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Strategic Management

2023/2024
Учебный год
ENG
Обучение ведется на английском языке
6
Кредиты
Статус:
Курс обязательный
Когда читается:
1-й курс, 1, 2 модуль

Преподаватель

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

Learning Objectives

  • Appreciate the contribution that strategy can make to successful performance
  • Comprehend the basic framework of strategy analysis
  • Undesrtand how strategy is made within organizations
  • Estimate strategies within organizations
Expected Learning Outcomes

Expected Learning Outcomes

  • • 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.
  • • 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.
  • • 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.
  • Identify practices of effective business strategy and the corporate strategy
Course Contents

Course Contents

  • Introduction and Overview of Strategic Management
  • The environments - PESTEL
  • The industry – forces and dynamics
  • Internal Analysis and Competitive Advantage
  • Business strategy and the quest for Competitive advantage
  • Selecting Corporate-Level Strategies
  • Competing strategies in International Markets
  • Implementing Corporate Strategy: Managing the Multibusiness Firm
  • Organizing and strategy
  • Strategic Renewal (Entrepreneurship and innovation)
  • Current Trends in Strategic Management
Assessment Elements

Assessment Elements

  • non-blocking Class Participation
    The lecturer will conduct case studies and invite students to participate verbally.
  • non-blocking Virtual Class
    Besides verbal participation during class, you will engage in virtual classroom discussions of the cases with students from the overseas institution(s) via MeWe platform.
  • Partially blocks (final) grade/grade calculation Quiz 1
    The Quiz 1 is a multiple-choice, yes/no, and fill in the blanks type of exam given in an electronic format during the exam week (after Module 1). The exam includes material included in class activities (lectures, seminars, homework) and in the textbook. Students take this quiz individually.
  • Partially blocks (final) grade/grade calculation Quiz 2
    The Quiz 2 is a multiple-choice, yes/no, and fill in the blanks type of exam given in an electronic format during the exam week (after Module 1). The exam includes material included in class activities (lectures, seminars, homework) and in the textbook. Students take this quiz individually.
Interim Assessment

Interim Assessment

  • 2023/2024 2nd module
    0.35 * Quiz 1 + 0.35 * Quiz 2 + 0.1 * Class Participation + 0.1 * Virtual Class
Bibliography

Bibliography

Recommended Core Bibliography

  • Contemporary strategy analysis, Grant, R.M., 2022
  • Michael A. Hitt, R. Duane Ireland, & Robert E. Hoskisson. (2020). Strategic Management: Concepts and Cases: Competitiveness and Globalization, Edition 13: Vol. 13th edition. Cengage Learning.

Recommended Additional Bibliography

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