Now known as Strategic Management in Theory & Practice.

Main Aim(s) of the Unit:

This unit aims to develop understanding of the operational and strategic dimensions of organisations and raise awareness of the current discourse in strategic management theory.

Main Topics of Study:

Nature of Strategic Management:

• Definitions
• Stages of Strategic Management
• Key Terms in Strategic Management
• Strategic Management Model
• Benefits of Strategic Management
• Business Ethics & Strategic Management
• Business & Military strategy

Strategies in Action:

• Types of Strategies
• Integration Strategies
• Intensive Strategies
• Diversification Strategies
• Defensive Strategies
• Guidelines for Pursuing Strategies
• Mergers & Leveraged Buyouts
• Generic Strategies
• Strategic Management in Governmental Organisations
• Strategic Management in Small Firms

Business Mission:

• Importance of a Clear Mission
• Nature of a Business Mission
• Components of a Mission Statement
• Writing & Evaluating Mission Statements

External Assessment:

• Nature of an External Audit
• Economic Forces
• Social, Cultural, Demographic & Environmental Forces
• Political, Governmental & Legal Forces
• Technological Forces
• Competitive Forces
• Sources of External Information
• Forecasting Tools & Techniques
• Competitive Analysis
• Industry Analysis

Internal Assessment:

• Nature of an Internal Audit
• Relationships Among Functional Areas
• Management
• Marketing
• Finance
• Productions
• Operations
• R&D
• Computer Information Systems
• Internal Audit Checks
• Internal Factor Evaluation Matrix

Strategy Analysis & Choice:

• Nature of Strategy Analysis & Choice
• Long Term Objectives
• Comprehensive Strategy Formulation Framework
• Input Stage
• Matching Stage
• Decision Stage
• Cultural Aspects of Strategy Choice
• Politics of Strategy Choice
• Role of Board of Directors

Strategy Implementation, Management Issues:

• Nature of Strategy Implementation
• Annual Objectives
• Policies
• Resource Allocation
• Managing Conflict
• Matching Structure with Strategy
• Restructuring & Reengineering
• Linking Performance & Pay to Strategies
• Managing Resistance to Change
• Managing the Natural Environment
• Creating a Strategy-Supportive Culture
• Production
• Operations Concerns when Implementing Strategies
• Human Resource Concerns when Implementing Strategies

Implementing Strategies, Other Issues:

• Nature of Strategy Implementation
• Marketing Issues
• Finance Issues
• R&D Issues
• Computing Information Systems Issues

Strategy Review, Evaluation & Control:

• Nature of Strategy Evaluation
• Strategy-Evaluation Framework
• Published Sources of Strategy-Evaluation Information
• Characteristics of an Effective Evaluation System
• Contingency Planning
• Auditing
• Using Computers to Evaluate Strategies
• Guidelines for Effective Strategic Management

Learning Outcomes for the Unit

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

1. Provide a critical appreciation of the key concepts, models and paradigms that are central to contemporary strategic management theory.
2. Demonstrate a critical understanding of the complex and dynamic nature of strategic decision making.
3. Communicate succinctly and clearly in what ways strategic management can influence the allocation of resources, impact on organisational competence and alter an organisation’s direction.

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:

Examination: 3 hours duration 100%

Indicative Reading for this Unit:

Main Text:

Strategic Management – Fred R David (Prentice Hall)

Alternative Texts and Further Reading:

Exploring Corporate Strategy – Gerry Johnson & Kevin Scholes (Prentice Hall)

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.