strategic management, planning and control
| Unit title: |
Strategic Management, Planning and Control |
| Unit code: |
|
| Level: |
Postgraduate Diploma – Level 7 |
| Credits: |
30 |
main aims of the unit
The main aims of this unit is to familiarise learners with the strategic theories, models and approaches that enable organisations to adapt effectively in a changing environment, in order to achieve and maintain competitive advantage.
This process requires strategic prioritisation and problem analysis and this unit will identify the approaches required for the successful development of strategic planning and control systems and practices within organisations. The unit will also provide the knowledge required by professional managers to carry out strategic audits, resource analysis, portfolio analysis, scenario planning and strategies Implementation
The unit will enable students to:
- Appreciate the factors that can influence strategic decision-making
- Critically evaluate and apply strategic management concepts, tools and techniques.
- Identify strategic problems and recommend appropriate courses of action
- Critically evaluate alternative theories and approaches to strategic business problems
- Identify and appraise alternative strategies and their implementation.
- Understand the corporate responsibilities and requirements of modern businesses
main topics of study
strategy and organisations
- Purpose of strategy: mission, vision, values and objectives
- Strategy statements and levels of strategy
- Strategic choices
- Working with strategy
strategic position
- Macro-environmental analysis
- PESTEL analysis
- Forecasting: Approaches and directions of change
- Scenario analysis
- Industry and sector analysis
- Competitive rivalries
- The power of buyers and sellers
- Industry types and dynamics
- Strategic groups and market segments
- Opportunities and threats
resources, capabilities, shareholders and governance
- Threshold and distinctive resources and capabilities
- Basis of competitive advantage: value, rarity, inimitability, organisational support
- Diagnosing resources and capabilities: VRIO analysis, value chain and value systems, activity systems benchmarking
- Dynamic capabilities
- Shareholder groups and mapping
- The governance chain
- Governance models
- Corporate and social responsibility
- Ethics of individuals and managers
- History and culture
- Culture’s influence on strategy
business strategy and models
- Cost-leadership strategy
- Differentiation strategy
- Focus strategy
- Hybrid strategy
- Interactive price and quality strategies
- Cooperative strategy
- Game theory
- Business models
- Value creation, configuration and capture
corporate strategy and diversification
- Strategy direction
- Diversification drivers
- Vertical integration: Forward and backward integration
- Integration v outsourcing
- Growth-share matrix (BCG
- The directional policy matrix (GE –Mc Kinsey)
- The parenting matrix
capital asset pricing model and multi-factor model
- Shares, bonds and bills
- Capital asset pricing model
- Factor models
- Arbitrage pricing theory
- The three-0factor model
- Project appraisal and systematic risk
international strategy
- Internationalisation drivers
- Locational advantage: Porter’s Diamond
- International strategies
- Market selection and entry modes strategies
- Subsidiary roles in an international portfolio
- Internationalisation and performance
Entrepreneurship and innovation
- Entrepreneurship: Opportunity recognition, steps in entrepreneurship process
- Stages in entrepreneurship growth
- Innovation dilemmas: Open or closed innovation
- Innovation diffusion
- Innovators and imitators
- Mergers, acquisitions and alliances
evaluating strategies
- Organisational performance
- Gap analysis
- Life-cycle analysis
- Risk and return
- Financial feasibility
- People and skills
- Integrating resources
strategy development processes
- Strategic planning systems
- Externally imposed strategy
- Emergent strategy development
- Strategy development in different contexts
- Managing deliberate and emergent strategy
organising and strategy
- Structural types: Functional divisional, matrix, multinational/transnational, project-based
- Strategy and structure fit
- Planning system
- Performance targeting system
the practise of strategy
- Leadership and strategic change
- Types of strategic change
- Levers for strategic change
- Strategy analysis
- Strategy decision making
- Communicating the strategy
- Hypothesis testing
- Business, corporate and strategic plans
learning outcomes for the unit
Upon successful completion of the course students will be able to:
- Demonstrate an understanding of the nature of leadership and strategic management.
- Communicate and articulate their understanding of strategy theories and be able to apply them to organisations.
- Apply a body of knowledge, theory and practice to complex management and strategic issues in organisations.
- Analyse problems in a critical manner showing a good understanding of leadership and strategic management practice and theory.
- Critically examine current academic theory and debates on leadership and strategic management.
- Demonstrate a critical awareness of the organisation so that an effective understanding of organisational problems and opportunities can be developed
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
assessment methods which enable student to demonstrate achieving the learning outcomes for the unit:
Project (5000 words) on a topic selected by the candidates which addresses the learning outcomes of the unit
indicative reading for this unit
main text
Johnson G. Whittington R. Scholes K. Angwin D. Exploring Strategy: Text and Cases Pearson Education 11th edition
alternative text and further reading
- Lynch R. Strategic Management Pearson 7th edition
- Johnson G. Scholes K. Exploring Corporate Strategy Prentice Hall
- De Wit, B. and Meyer, R. (2010). Strategy: Process, Content, Context. 4th edition. London: Thomson International Business Press
guideline for teaching and learning time
(10 HOURS PER CREDIT)
100 hours - lectures / seminars / tutorials / workshops:
Tutorial support includes feedback on assignments and may vary by college according to local needs and wishes.
100 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.
