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Business Strategy and Strategic Management

Introduction

The dynamic and complex business environment in which most organisations now operate requires management and employees who are more aware of the impact of strategic decisions on the organisation and its stakeholders. The purpose of this module is to introduce and understand contemporary and traditional schools of strategic thinking, and to consider the strategy formulation process in the context of both competitive structuralist strategy and Blue Ocean reconstructionist strategy. A major part of the module will involve participants in an online strategy simulation, which offers real-world business planning and strategic decision making experience in a competitive group environment.

The principal module aim is to introduce learners to both contemporary and traditional schools of strategic thinking, and to consider the strategy formulation process in the context of both competitive structuralist strategy and Blue Ocean reconstructionist strategy. The module also aims to enable learners to understand real-world business and corporate strategic planning processes and identify and critically assess strategic decision making processes

Objectives

On completion of this module, participants will be able to:

  • Understand and interpret organizational situational analysis in the context of the external business environment, by critical analysis of the macro-environment;
  • Critically analyse the evolution and philosophy of business strategy and the different strategic planning and management processes;
  • Critically assess linear strategy formulation with e-commerce business strategy formulation;
  • Critically analyse the strategic capabilities, competences and strategic position of an organisation.

Syllabus

  • Analysis of the theory of strategy from Porterian to Blue Ocean, strategic evolution, the different schools of strategy, and an introduction to key strategic concepts and terminologies.
  • The theory and practice of strategy formulation, implementation and evaluation using linear and non-linear methods, including application of relevant models, frameworks and processes.
  • The process of strategic positioning of organisations, mission and vision statements; organisational aspirations and values; objectives;
  • Introduction to dynamic capabilities, and identification of threshold competencies and capabilities, and distinctive competencies.
  • The role and purpose of strategic planning: Emergent and deliberate strategies, explanation of types of strategic thinking-aggressive, competitive, conservative and defensive strategic stances.
  • Future directions of markets and competition; future needs of customers; gaining and maintaining competitive advantage.

Assessment

Post module assignment (100%)

Duration

1 week, including 30 hours of lectures, 5 hours of seminars, 7 hours of practical classess