Now known as Corporate Policy and Strategic Decision Making ^[1].

Main Aim(s) of the Unit:

The aims of this module are to enable students to develop an integrated strategic approach to organisational decision making; assess the need for long-term change and identify how to plan for effective implementation; apply the theory of strategic management to the reality of organisational complexity, as represented in case studies and in live situations, such as the student’s own organisation

Main Topics of Study:

Corporate Strategy

• The Characteristics of Strategic Decisions
• Levels of Strategy
• Strategic Analyses
• Strategic Choice
• Strategic Implementation
• A Summary of the Strategic Management Process
• Developing a Strategic Perspective
• Coping with Change
• Strategy in the Public Sector & Not-For-Profit Organisations

Strategic Decision Making in Practice

• Incremental Strategic Management
• Planning & Strategic Management
• Problem Awareness
• Problem Diagnosis
• The Development of Solutions
• The Selection of a Solution
• Cure & Strategy
• The Recipe & the Cultural Web
• Cultural View of Patterns of Strategic Change
• The Implications for Exploring Corporate Strategy

Analysing the Environment

• Auditing Environmental Influences On Organisations
• Understanding simple/ static Conditions
• Understanding Dynamic Conditions
• Understanding Complex Conditions
• The Nature of the Environment (The use of the Prospective)
• The Threat Of Entry
• The Power of Buyers & suppliers
• The Threat of Substitutes
• The Extent of Competitive Rivalry
• Life Cycle Models & the Nature of Markets
• Strategic Group Analysis
• Market Structures & Market Power
• SWOT Analysis

Analysing Resources

• The Value System
• Value Chain Activities
• The Resource Audit
• Resource Utilisation
• Control of Resources
• Financial Analysis
• Historical Analysis
• Comparison with Industry Norms
• The Experience Curve
• Portfolio Analysis
• Skills Analysis
• Flexibility Analysis
• Identification of Key Issues

Expectations, Objectives & Power

• External Influences
• Nature Of Business
• Organisational Culture
• Conflicts of Expectations
• Identifying Coalitions
• Sources of Power Within Organisations
• Sources of Power for External Stockholders
• Methods of Assessing Power
• Mission
• Corporate Objectives
• Unit Objectives
• The Precision of Objectives
• Social Responsibility

Strategic Options

• Cost Leadership
• Differentiation
• Focus
• ‘Do Nothing’
• Withdrawal
• Consolidation
• Market Penetration
• Product Development
• Market Development
• Diversification
• Related Diversification
• Unrelated Diversification
• internal Development
• Acquisition
• Joint Development

Strategy Evaluation (Criteria & Approaches)

• Suitability
• Feasibility
• Acceptability
• Strategic Logic
• Strategy & Performance
• Cultural Fit

Strategy Evaluation (Techniques)

• Bases for Comparison
• Scoring Methods
• Decision Trees
• Scenarios
• Profitability Analysis
• Cost/Benefit Analysis
• Financial Ratio Projections
• Sensitivity Analysis
• Decision Matrices
• Simulation Modelling
• Heuristic Models
• Stockholder Reactions
• Funds Flow Analysis
• Break-Even Analysis
• Other Assessments of Feasibility
• Selection Against Objectives
• Referral to a Higher
• Authority / Outside Agencies

Planning & Allocating Resources

• Few Resource Changes
• Allocation Burring Growth
• Allocating Resources in Static or Declining Situations
• Resource Sharing/Overlap
• Central Questions in Resource Planning
• Inbound Logistics
• Operations
• Outbound Logistics
• Marketing & sales Services
• Key Resources in Implementing Generic Strategies
• Priorities & Key Tasks
• The Plan of Action
• The Recognition & Testing of Key Assumptions
• Financial Planning & Budgeting / Network Analysis

Learning Outcomes for the Unit

At the end of this Unit, students will be able to:

1. Identify and discuss models for the appraisal of the competitive situation of a business in its environment
2. Explain ways to assess resources and capabilities of an organisation
3. Identify and explain strategies for the evaluation, choice and implementation of routes to long term organisational change.
4. Evaluate the competitive and collaborative environment in an industry/market
5. Analyse the far environment and its impact on an organisation’s ability to achieve its strategic objectives
6. Assess and develop the resources and competences that will deliver sustainable competitive advantage
7. Identify key strategic issues and assess the options available to deal with them
8. Plan and manage the required change, within an effective strategic assignment

Learning and teaching  methods/strategies used to enable the achievement of learning outcomes:

Learning takes place on a number of levels through lectures, class discussion including problem review and analysis.  Formal lectures provide a foundation of information on which the student builds through directed learning and self managed learning outside of the class.  The students are actively encouraged to form study groups to discuss course material which fosters a greater depth learning experience.

Assessment methods which enable student to demonstrate the learning outcomes for the Unit:

Case Study Report : 100%

Approval Request Form

Corporate Policy and Strategic Decision Making is examined by means of a Case Study Report. Students undertaking this subject are required to conduct Research on a topic agreed with ICM and to submit a Report to the Institute, based on that Research. The purpose of the Research and the Report is to establish that students have the ability to identify, analyse and recommend solutions to an identifiable management problem or situation within a company, corporation, government or other department.

The Approval Request Form for the Topic can be downloaded here ^[2] (PDF 41Kb).

Indicative Reading for this Unit:

Main Text:

Johnson, G. & Scholes, K. Exploring Strategy: texts and cases, 9th Ed.

Business Case study Handbook – Curran (ICM)

Alternative Texts and Further Reading:

Readings in Business Policy from Business Week - Glueck (McGraw Hill)

Cases in Strategic Management - Stopford, Channon and Constable (Wiley)

Management Problem Solving - Margerison (McGraw Hill)

Guideline for Teaching and Learning Time (10 hrs per credit)

50 hours Lectures / Seminars / Tutorials / Workshops:

Tutorial support includes feedback on assignments and may vary by college according to local needs and wishes.

50 hours Directed learning:

Advance reading and preparation / Class preparation / Background reading / Group study / Portfolio / Diary etc

100 hours Self managed learning:

Working through the course text and completing assignments as required will take up the bulk of the learning time.  In addition students are expected to engage with the tutor and other students and to undertake further reading using the web and/or libraries.