Module BUSI1211: Strategy in Practice

Department: Management and Marketing

BUSI1211: Strategy in Practice

Prerequisites

• None.

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• To develop students theoretical and practical knowledge and understanding of key issues relating to strategic management and the processes of strategy-making.
• To encourage students to think critically and strategically about strategy, competition and business development as it happens.
• To enable students to understand and apply different and diverging perspectives, debates and concepts arising in strategic management into practice.
• To provide students with tools, knowledge and skills for managing strategy in future employment.

Content

• This module will focus on strategic management and key subjects in this domain as well as addressing more contemporary theories and topics of strategy. It will also provide an opportunity for students to apply conceptual and theoretical knowledge into practice with the help of a Strategy Simulation. This module will take a critical perspective on the subject matter with alternate and often contrasting perspectives on subjects provided to students to reinforce the central messages of this module that (1) strategy and strategic management are essential; (2) there is no one best way of developing strategy or conducting strategic management, and; (3) key ideas and concepts within strategy can be contentious and require addressing and balancing for success.
• Indicative content covered in this module include:
• Definitions and explanations of the nature of strategy and strategic management.
• The strategic management process (deliberate vs emergent strategy; planning vs improvisation).
• Strategy-making: the tools of strategic analysis, internal and external analyses, developing strategic options including warfare strategies.
• Implementation.
• Strategic thinking and learning.
• Competition and strategic positioning.
• Competitive advantage.
• Failure.
• International strategic management.

Learning Outcomes

• Demonstrate a deep and critical understanding of strategic management and the associated literature
• Have developed a critical understanding of the factors influencing business strategies.
• Comprehend the multiple different perspectives and approaches to strategy.
• Develop understanding of a range of theoretical frameworks for analysing of strategy.
• Explore the nature of strategy, competition and success.
• Understand the nature of failure and how to strategically manage such situations.
• Understand complications and challenges faced in international strategic management.

• Be able to apply relevant analytical tools and frameworks to assess environments, strategies and strategic options.
• Understand, and be able to apply, the concepts and theories of strategic management to practice.
• Be able to locate, comprehend and critically evaluate relevant research and sources of information relating to strategic management.

• Critical thinking, analysis, evaluation and synthesis.
• Making strategic decisions and solving problems relating to business and strategy
• Identify and address strategic problems.
• Develop cohesive and persuasive arguments.
• Research appropriate periodicals, books, websites and other references to extract and draw together information and knowledge.
• Research companies and draw out meaningful knowledge and conclusions from various information sources (e.g., from financial statements, Annual Reports, analysts reports).
• Effective written communication, for instance in terms of analysis of strategic issues, report writing and delivering effective critique.
• Cooperative learning.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by Lectures and practical workshops. Learning takes place through attendance at lectures, reading (which will be recommended at the end of each lecture session), preparation for and participation in Workshops and independent study.
• Students are expected to read and make additional notes on each subject delivered throughout the module with directed reading suggestions at the end of each lecture, but also through additional reading based on students self-motivation.
• Workshops will consist of a Strategy Simulation exercise where students will be organised into small groups or senior management teams responsible for running a company in a simulated environment. These practical workshops will be used to support and reinforce knowledge as well as encouraging further study. Students are expected, with no exception, to take full part in the workshop activities.
• Formative assessment will be by means of student group presentation of an external environment and industry analysis where their company will be positioned during the Simulation exercise. Verbal feedback will be provided to each individual group after their presentation, which can then be built upon and developed for the summative coursework assignment. Students will also receive ongoing and continuous feedback on decisions taken throughout the Simulation via the software itself.
• The summative assessments will provide a test of the understanding and analytical skills acquired by students. As part of the summative coursework assignment, students will be expected to analyse, in detail, the strategy and business results of the company they were managing during the Simulation in the form of an individual report. The word limit is set at a maximum of 3500 words. The summative assessment will require students to think critically, be able to analyse, evaluate and then apply concepts and theories taught during the module in their assessments. Students will be expected to apply their own research skills and reflecting on their Simulation learning experience and also use their own initiative to develop insights into strategy.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Student group presentation of an external environment and industry analysis where their company will be positioned during the Simulation exercise. Presentation time 10 minutes plus 5 minutes for Q&A. Students will also have continuous computer-generated feedback during Workshops and Simulation exercise.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University