MGMT08029 2022 Strategic Management 1

General Details

Full Title
Strategic Management 1
Transcript Title
Strategic Management 1
Code
MGMT08029
Attendance
N/A %
Subject Area
MGMT - Management
Department
BUS - Business
Level
08 - NFQ Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Mary McGuckin, Kerry Dolan, Aileen Brennan
Programme Membership
SG_BACCO_H08 202200 Bachelor of Arts (Honours) in Accounting SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business SG_BACCO_K08 202200 Bachelor of Business (Honours) in Business with Accounting (Add-on) SG_BBUSJ_H08 202300 Bachelor of Business (Honours) in Business with Supply Chain Management SG_BSUPP_H08 202300 Bachelor of Business (Honours) in Supply Chain Management SG_BACOO_H08 202300 Bachelor of Arts (Honours) in Accounting SG_BBUSB_H08 202200 Bachelor of Business (Honours) in Business SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business SG_BACCO_K08 202300 Bachelor of Business (Honours) in Business with Accounting (Add-on)
Description

The objective of this module is to provide a comprehensive overview of strategy, discussing key strategic issues facing contemporary organisations operating across a range of sectors. The learner will be positioned at the vanguard of strategic thinking that shapes practice in the modern organisation. The aim is to enable the learner derive maximum value from the teaching and learning of strategy through the provision of key concepts and analytical frameworks. This pedagogical path will stimulate critical appraisal skills as the learner constructs an integrated strategic view of the organisation  and its operating environment as well as understanding the important skills and competencies of strategic leaders. 

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Demonstrate a theoretical understanding of the strategic management process and key concepts of strategic intent within the modern organisation.

2.

Complete a comprehensive analysis of an organisation's external environment and identify the key drivers of change and disruption to its ecosystem.

3.

Evaluate an organisation's resources, capabilities and core competences using a range of analytical frameworks.

4.

Discuss and assess an organisation's culture/subcultures using appropriate diagnostic tools.

Teaching and Learning Strategies

Pedagogical approach to comprise of lectures, tutorials and independent learning.

Teaching and learning approach will be through the provision of key concepts, relevant theory and analytical frameworks.

Students are expected to refer to relevant published and online material including academic journal articles, websites, podcasts, videos, case studies, company/sectoral exhibits and illustrations, market intelligence reports in addition to published industry trends and insights. 

Module Assessment Strategies

Terminal examination at the end of semester.

Project - audit, case study or report.

Repeat Assessments

Repeat procedure to comprise of written exam and/or continuous assessment, as required.

Indicative Syllabus

1. Concepts of Strategy

  • Introduction to strategy and the strategic management process
  • Overview of the strategic management model - the strategic position, strategic choices and strategy in action
  • Concepts of strategic intent and strategy statements (mission, vision, values, objectives)
  • Strategy and strategic decisions within different organisational contexts

 

2. External Environment, Industry and Sectoral Analysis

  • Key drivers of change and disruption in the organisation's ecosystem.
  • PESTLE analysis
  • Scenario planning/Futures frameworks
  • Competitive forces and Porter’s framework
  • Industry structure, strategic group analysis, critical success factors and ‘Blue Oceans’ thinking

 

3. Strategic Resources and Capabilities Analysis

  • Resources, competences and strategic capabilities
  • ‘VRIO’ framework as a basis for competitive advantage
  • Benchmarking and the value chain
  • SWOT analysis (a strategic perspective)

 

4. Organisational Culture and Strategy

  • Definition and importance of organisational culture and subcultures
  • Cultural frameworks (cultural mapping and diagnostics tools)

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
30 %
End of Semester / Year Formal Exam
70 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Strategic Audit Coursework Assessment Project 30 % OnGoing 1,2,3,4
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Final Exam Closed Book Exam 70 % End of Semester 1,2,3,4
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Lecture Theatre Class based instruction 3 Weekly 3.00
Tutorial Flat Classroom Class based instruction 1 Weekly 1.00
Independent Learning Not Specified Self directed learning 3 Weekly 3.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Required Reading
2019 Johnson
ISBN 1292282452 ISBN-13 9781292282459

"We are delighted to offer this twelfth edition of Exploring Strategy. With sales of previous editions now well over one million worldwide, we believe we have a tried and tested product. Yet the strategy field is constantly changing. For this edition, therefore, we have thoroughly refreshed all chapters, with new concepts, new cases and new examples throughout. Here we would like to highlight three principal changes, while recalling some of the classic features of the book"--

Recommended Reading
2021-06-07 Strategic Management Sage Publications Limited
ISBN 1529758246 ISBN-13 9781529758245

New to SAGE, the 9th edition of this comprehensive core textbook builds on its global perspective and approachable written style, that explores the key concepts within a clear and logical structure. Lynch guides students through 19 chapters, with updated case studies and pedagogy to support the modern business and management student from start to finish. Including: - Learning Outcomes - Case Studies, Strategy Cases & Exhibits - Key Strategic Principles & Definitions - Strategic Project Guide - Critical Reflection & Summary - Questions - Further Reading, Notes & References Continuous contrast between prescriptive and emergent views of strategy highlights the key debates within the discipline, whilst an emphasis on practice throughout the book encourages students to turn theory into practice

Recommended Reading
2019-01-24 ISE Crafting & Executing Strategy: Concepts and Cases
ISBN 1260565742 ISBN-13 9781260565744

Crafting & Executing Strategy: Concepts and Cases provides a mainstream, balanced treatment of the latest developments in the theory and practice of strategy. Emphasis on a company's strategy must be matched not only to its external market circumstances but also to its internal resources and competitive capabilities. Improve student learning outcomes using Connect - our easy-to-use homework and learning management solution that embeds learning science and award-winning adaptive tools to improve student results.

Recommended Reading
2017-11-21 Concepts in Strategic Management and Business Policy: Globalization, Innovation and Sustainability, Global Edition Pearson Higher Education
ISBN 129222729X ISBN-13 9781292227290

For courses in Strategic Management and Business Policy. Utilize a strategic management model to learn and apply key concepts Picking up where the popular previous editions left off, Concepts in Strategic Management and Business Policy: Globalization, Innovation and Sustainability, 15th Edition further sharpens and modernizes this classic text's approach to teaching strategy with an emphasis on globalization, innovation, and sustainability. Throughout, the authors equip students with the strategic concepts they will need to know as they face the issues that all organizations must build upon to push their businesses forward. In this edition, Alan Hoffman and Chuck Bamford offer a fresh perspective to this extraordinarily well-researched and practically crafted lesson. Also included is a new chapter on global strategy. Pearson MyLabTM Management not included. Students, if MyLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab should only be purchased when required by an instructor. Instructors, contact your Pearson rep for more information. MyLab is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.

Recommended Reading
2019 CORPORATE STRATEGY FOR IRISH COMPANIES.
ISBN 1912350327 ISBN-13 9781912350322
Recommended Reading
2019-01-02 Strategic Management
ISBN 0135192226 ISBN-13 9780135192221
Recommended Reading
2019 Agile Strategy Financial Times/Prentice Hall
ISBN 1292262982 ISBN-13 9781292262987

Agile Strategy is a practical guide for managers responsible for setting the strategic direction of their organisations in increasingly dynamic markets. Through its frameworks, tools and real-world examples, it explains how to transform business performance through greater organisational agility. LEADERSHIP AND MANAGEMENT STRATEGY BUSINESS TRANSFORMATION Why do we need a new book on strategy? The pace of change is increasing, and strategic management is not keeping up. More than one in four (28%) strategic initiatives fail to meet their original goals and business intent[1], with insufficient agility identified as one of the top three barriers to successful strategy implementation[2]. The square peg of traditional strategy -- vision, mission and blue-sky exercises; the separation of strategy from "implementation" -- no longer fits the round hole of increasingly dynamic markets. It is time for a new approach. How is Agile Strategy different? Agile Strategy distinguishes itself from other strategy and agile books currently available in that it is: Designed for large organisations: Much of the writing on agile techniques addresses start-ups or small and medium-sized enterprises (SMEs), which operate under very different constraints and freedoms. Agile Strategy is written for large organisations who want to be more agile. Commercially-led: The approach is not a lightly airbrushed business rewrite of agile software development practices, but rather a fundamental rethinking of commercial and operational business practices. Practical: It is anchored in innovative and robust concepts but designed as a practical "how-to" guide: a book for practitioners, written by a practitioner. Results-focused: Whilst addressing a broad range of organisational topics, the book is grounded in the definition and delivery of measurable business benefits. Why should I read it? Agile Strategy offers four key benefits to its readers: A clear framework ("RADAR") A single, easy-to-grasp guiding principle: The Horizon Measurable benefits A practical approach I hope you not only enjoy reading about this innovative new approach, but also go on to realise the full potential of your organisation by implementing it. Good luck! Ralph Fernando [1] Project Management Institute (2017) Pulse of the Profession [2] The Economist Intelligence Unit (2017) Closing the Gap: Designing and Delivering a Strategy that Works"

Recommended Reading
1998-06-01 Competitive Strategy: Techniques for Analyzing Industries and Competitors Free Press
ISBN 0684841487 ISBN-13 9780684841489

Now nearing its sixtieth printing in English and translated into nineteen languages, Michael E. Porter's Competitive Strategy has transformed the theory, practice, and teaching of business strategy throughout the world.

Electrifying in its simplicitylike all great breakthroughsPorters analysis of industries captures the complexity of industry competition in five underlying forces. Porter introduces one of the most powerful competitive tools yet developed: his three generic strategieslowest cost, differentiation, and focuswhich bring structure to the task of strategic positioning. He shows how competitive advantage can be defined in terms of relative cost and relative prices, thus linking it directly to profitability, and presents a whole new perspective on how profit is created and divided. In the almost two decades since publication, Porter's framework for predicting competitor behavior has transformed the way in which companies look at their rivals and has given rise to the new discipline of competitor assessment.

More than a million managers in both large and small companies, investment analysts, consultants, students, and scholars throughout the world have internalized Porter's ideas and applied them to assess industries, understand competitors, and choose competitive positions. The ideas in the book address the underlying fundamentals of competition in a way that is independent of the specifics of the ways companies go about competing.

Competitive Strategy has filled a void in management thinking. It provides an enduring foundation and grounding point on which all subsequent work can be built. By bringing a disciplined structure to the question of how firms achieve superior profitability, Porters rich frameworks and deep insights comprise a sophisticated view of competition unsurpassed in the last quarter-century.

Recommended Reading
2012-05-23 Strategy and Strategists Oxford University Press
ISBN 0199219710 ISBN-13 9780199219711

Strategy and Strategists provides an illuminating exploration of strategy and its implications for business. Adopting a critical and reflective approach, the authors guide the reader through the complexities of strategy, clearly presenting the conflicting viewpoints and arguments in this exciting and fast-moving field.

Business examples throughout the text elucidate strategy theory, providing future managers and executives with the awareness and knowledge necessary to test perspectives and draw their own conclusions. Linking literature to contemporary developments, this engaging textbook is invaluable reading for all students of strategy.

Online Resource Center:

For Lecturers:

PowerPoint Slides
Teaching notes for mini-cases and end of chapter cases
Guide to answering questions on readings
Answers to discussion questions
Sample examination questions
All figures from the book

For Students:

Multiple choice questions
Updates to the case studies
Annotated weblinks
Guidance to further readings

Recommended Reading
2014-01-01 Strategic Management: Concepts and Cases: Competitiveness and Globalization Cengage Learning
ISBN 1285425170 ISBN-13 9781285425177

Examine strategic management with the market-leading text that sets the standard for the most intellectually rich, yet thoroughly practical, analysis of strategic management today. Written by highly respected experts Hitt, Ireland, and Hoskisson, STRATEGIC MANAGEMENT: COMPETITIVENESS AND GLOBALIZATION, CONCEPTS AND CASES, Eleventh Edition, combines the latest cutting-edge research and strategic management trends with ideas from some of today's most prominent scholars. This is the only text that integrates the classic industrial organization model with a resource-based view of the firm to give you a complete understanding of how today's businesses use strategic management to establish a sustained competitive advantage. A strong global focus and examples from more than 600 emerging and leading companies place ideas into context within an inviting, practical presentation. A wealth of learning features and more than 30 all-new compelling cases examine a broad range of critical issues confronting managers today. Engaging video cases, CengageNOW online learning tools, and a complete electronic business library help keep your study current and relevant. STRATEGIC MANAGEMENT: COMPETITIVENESS AND GLOBALIZATION provides the solid understanding you need to effectively apply strategic management tools and techniques for increased performance and tomorrow's competitive advantage. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

Module Resources

Non ISBN Literary Resources

 

Journal Resources

Academy of Management Review

Bloomberg

Business Horizons

Californian Management Review

Corporate Responsibility Journal

Harvard Business Review

Journal of Change Management

Long Range Planning

Management Decision

MIT Sloan Management Review

Strategic Management Journal

Financial Times Archives

Sunday Business Post Archives

URL Resources

Students should refer to Emerald Insights, Business Source Complete, Academic Search Complete, Regional Business News and Science Direct on:

Databases – Yeats Library (itsligo.ie)

 

Other Resources

Visiting practitioners from industry

 

Additional Information