Strategic Management

2024/2025

Учебный год

ENG

Обучение ведется на английском языке

6

Кредиты

Кто читает:

Департамент менеджмента

Статус:

Курс обязательный

Когда читается:

1-й курс, 1, 2 модуль

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 will learn how to analyse the strategic position of an organization and how to think about strategic choices. Against the backdrop of these concepts, you will learn about recent 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 get acquainted with the core terms and concepts of organizational strategy, you will be able to comprehend the process of and contribute to the strategy formulation of an organization you will work for in the future.

Learning Objectives

• The course is designed to help students obtain the following professional competences: - ability to perform professional tasks based on advanced knowledge of economic, organizational and management theory, innovative approaches, generalization and critical analysis of management practices; - ability to make informed organizational and managerial decisions, evaluate their operational and organizational effectiveness and social significance, ensure their implementation in a complex and dynamic environment; - ability to apply appropriate methods and techniques for research projects in the international business area; - ablity to identify main risks and business opportunities in the global economy; - ability to find and evaluate new market opportunities.

Expected Learning Outcomes

• Understand how to apply analytical frameworks in strategy, including SWOT. Grasp key strategic thinking techniques.
• Analyse the broad macro-environment of organisations in terms of political, economic, social, technological, ecological and legal factors (PESTEL). Recognise the influence of non-market factors as well as market factors on organisational strategy.
• Define industries and use Porter's competitive Five Forces framework to analyse industries or sectors. On the basis of the five competitive forces, define industry attractiveness and identify how the forces can be managed. Understand different industry types and how industries develop and change in industry life cycles.
• Identify organisational resources and capabilities and how these relate to the strategies of organisations. Analyse how resources and capabilities might provide sustainable competitive advantage on the basis of their VRIO characteristics. Consider how resources and capabilities can be developed based on dynamic capabilities.
• Relate organisational values to an organisation's organisational purpose. Undertake stakeholder analysis in order to identify the poweand attention of different stakeholder groups.
• Analyse the influence of an organisation 's culture on its strategy. Recognise organisational identity claims, as distinct from actual organisational culture. Identify organisations that may be experiencing symptoms of strategic drift.
• Assess business strategy in terms of the generic competitive strategies of cost leadership, differentiation and focus. Understand the logic of hybrid strategies. Identify and 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, unrelated and conglomerate diversification) and evaluate diversification drivers. Assess the relative benefits of vertical integration and outsourcing. Analyse portfolios of business units and judge which to invest in and which to divest.
• 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. Understand the difference between global integration and local responsiveness and four main types of international strategy.
• 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 the diffusion (or spread) of innovations. Decide when being a first-mover innovator or a fast secondmover imitator is most appropriate in innovation, and how an incumbent organisation should respond to innovative challengers.
• Identify key strategic motives for mergers, acquisitions and/or alliances. Distinguish the key issues in successful management of different growth options. Understand how to choose between organic development, mergers and acquisitions and strategic alliances.
• Assess performance outcomes using different economic and effectiveness measures. Use SAFE (Suitability, Acceptability, Feasibility and Evaluation) to identify optimal strategic options.
• Identify deliberate processes of strategy development in organisations, including: the role of strategic leadership, strategic planning systems and externally imposed strategy. Identify processes that give rise to emergent strategy development, such as: logical incrementalism, political processes and organisational structures and systems.
• Design organisational structures and systems in order to achieve appropriate fit with particular strategies. Address issues of culture, sensemaking and procedural justice in implementation.
• Identify and assess different leadership styles, as related to strategic change. Use the change kaleidoscope and forcefield analysis to analyse how organisational context might affect strategic change. Identify types of strategic change. Assess the value of different levers for strategic change.
• Recognise the purpose of an organisation. Summarise the strategy of an organisation in a 'strategy statement'. Distinguish between corporate, business and functional strategies. Identify key issues for an organisation's strategy.

Course Contents

• Introducing Strategy. Working with Strategy.
• Macro-environment analysis. Industry and sector analysis.
• Resources and capabilities.
• Purpose and stakeholders. Culture and strategy.
• Business strategy and models.
• Corporate strategy.
• Midterm test
• International strategy.
• Entrepreneurship and innovation.
• Mergers, acquisitions and alliances.
• Evaluating strategies.
• Strategy development process. Implementing strategy.
• Leadership and strategic change.

Assessment Elements

• Active participation in class
  Each classwork and homework activity description will be provided either before the corresponding seminar via Smart LMS (homework) or given during the seminar (classwork) and will contain assessment criteria specific to each classwork or homework activity in question. Class participation activities are performed in groups of 5-6 students.
• Midterm test
  Midterm test is a multiple-choice and/or yes/no and/or and fill in the blanks and/or matching type of exam given during the last seminar in Module 1. The exam includes material included in class activities and in the textbook. Students take this test individually.
• Final Exam
  Final exam is a multiple-choice and/or yes/no and/or and fill in the blanks and/or matching type of exam given during the exam week of Module 2. The exam includes material included in class activities and in the textbook. Students take this test individually.
• Group project report
  The group project is part of the academic requirements of the course, where students work on real strategic management problems either formulated by the real company, provided by the course instructors or based on the academic literature.

Interim Assessment

• 2024/2025 2nd module
  0.25 * Active participation in class + 0.3 * Final Exam + 0.15 * Group project report + 0.3 * Midterm test

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

• Contemporary strategy analysis, Grant, R.M., 2022

Authors

• Aleinikova IRINA SERGEEVNA
• NEFEDOV KONSTANTIN SERGEEVICH