Strategic Management - BUSI97190
The central question of strategic management is how to enhance the performance of the firm. We will explore this question by examining the variety of issues that confront managers as they strive to enhance the performance of their firms. Some issues include: defining what the firm “does,” whom the relevant competitors are, how the firm can try to gain an “edge” over its competitors, and whether and how the firm can try to retain that “edge” over time.
The goal of this module is to provide you with the tools and concepts necessary to analyse and understand how to formulate and implement the appropriate policies and strategies for a firm. In order to do so, you will be taking a general management, as opposed to a functional (e.g., accounting, finance, marketing), perspective in this module and thus will need to think of how each action, decision or event will affect the firm as a whole. By the end of this module, you should be able to actively and critically use module concepts to diagnose, manage, design, change and generally make sense of the various firms in which you will participate through the module of your lives.
A different area of strategic management will be explored during each class, and we will examine how it can be used to anticipate, understand and resolve different problems that arise for managers. Class discussions, exercises and readings from the textbook and business press will be used to link strategic management concepts with real world issues and problems. Because actively applying these concepts is such a central part of the module, the conceptual topics covered may also be applied to cases that are assigned subsequently. Case analysis and discussion are integral parts of the module. The cases are designed to test and sharpen the ability of students’ to identify module concepts in actual business settings and apply these concepts in decision-making.
Strategy - BUSI97375
The module will integrate insights from Strategy and Marketing, which are both critical to business success. Strategy is about how an organisation achieves an advantage in a competitive, fast paced environment by harnessing its resources and competencies over relatively long periods of time, in pursuit of specific goals. Strategy is shaped by the external market conditions as well as the resources available to management internally (including the firm’s internal structure, systems and culture). This integration of the external and internal perspectives provides the basic framework for strategic thinking. Marketing focuses on the firm’s relationships with customers and different stakeholders. More often than not organisations spend resources developing and marketing new products/services only to discover that consumer response is far less ecstatic than expected. The reality is that in most cases consumers are indifferent about businesses offerings – they simple do not care. To succeed business must make a more compelling case than it is today - in terms of consumer experience, deeper purpose, social value, and greater inspiration for consumers as well as employees. Effective marketing management requires a clear understanding of consumers and the market in general.
These perspectives and tools are complementary, and the aims of the Competing in the Global Marketplace module are to help participants:
- Develop a holistic view of the firm
- Develop the ability to think beyond day-to-day business activities
- Understand how marketing contributes to a business’ competitiveness and survival
- Provide participants with critical marketing insights, tools, and techniques
The module will help participants develop a practical and rigorous set of skills that are essential to being an effective general manager.
- The role of strategy in the development of the firm
- The key strands of strategy theory and practice
- Current issues in global strategy
- Marketing’s role in creating value for consumers and organisations
- How marketing contributes to a firm’s competitiveness and survival
- How marketing strategies can be augmented over time
- During the module, participants should develop:
- Diagnostic and analytical skills to critically analyse current business practices
- Skills in assessing challenges, defining problems and examining market opportunities in the context of different consumer markets
- Technical skills to develop strategies that provide customer value and that result in sustainable competitive advantage for organisations
- Communication and presentation skills through class discussion