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MGMT08037 2022 Business Strategy 1

General Details

Full Title
Business Strategy 1
Transcript Title
Business Strategy 1
Code
MGMT08037
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)
Aileen Brennan, Paul McWeeney
Programme Membership
SG_BFINV_K08 202200 Bachelor of Business (Honours) in Business with Finance and Investment (Add-on) SG_BGENE_K08 202200 Bachelor of Business (Honours) in General Business (Add-on) SG_BHRMS_K08 202200 Bachelor of Business (Honours) in Business with Human Resource Managment (Add-on) SG_BFINA_H08 202200 Bachelor of Business (Honours) in Finance and Investment SG_BINTE_H08 202200 Bachelor of Business (Honours) in International Marketing and Languages SG_BMARK_H08 202200 Bachelor of Business (Honours) in Marketing SG_BTOUR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BTOUR_K08 202200 Bachelor of Business (Honours) in Tourism with Event Management (Add-on) SG_BSPOR_H08 202200 Bachelor of Business (Honours) in Sport with Business SG_BSPOR_K08 202200 Bachelor of Business (Honours) in Sport with Business (Add-on) SG_BBMTS_K08 202200 Bachelor of Business (Honours) in Business with Marketing (Add on) SG_BTOTR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BTEVM_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management
Description

The objective will be to provide an introductory, comprehensive, well-structured and cutting edge treatment of business strategy, covering key questions about contemporary organisations operating in both the private and public sector. The aim will be to enable the learner derive maximum value from the teaching and learning of organisational business strategy through the development of theoretical concepts and analytical frameworks. This pedagogical path will attempt to stimulate critical appraisal skills as the learner constructs an integrated strategic view of the organisation and fluctuating operating environment. The module will examine how business strategy assists organisations in the appreciation of assets through the development of effective business strategy and explore the shifting economic fortunes of organisations recovering in a post pandemic world, the rapid adoption of topics like environmental sustainability, data analytics, technology, new media platforms and the increasing power of emerging economies in the developed world.

Learning Outcomes

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

1.

Appreciate the significance of the key concepts associated with strategy and strategic intent within the modern organisation

2.

Differentiate between the various frameworks required to gain an understanding of the external environment and non-market aspects of the environment

3.

Demonstrate how analytical models are used to evaluate an organisation's resources, capabilities and core competences

4.

Critically analyse the importance of governance, social responsibility and good corporate citizenship in the modern business organisation

5.

Read referred to online material with a strategic emphasis from academic journals and magazines

Teaching and Learning Strategies

(Hold down CTRL and click on link to access)

Teaching and Learning Strategies IT Sligo CELT page

Consider each learning outcome and how it can be achieved through your teaching, influencing the learning of students. The following list may help you think of strategies to support your students’ learning:

Academic Writing Tutorial

Accessible course material

Active Learning

Brainstorming

Buzz Groups

Case studies

Consider diverse learning abilities

Debate

Discussions

Enquiry-based learning

Feedback Loop

Fieldtrips

Flipped classroom

Group work

Inclusive teaching

Integrate prior knowledge

Interactive

Laboratory Work

Lectures

Modelling

One-minute essay

Peer-review

Planning

Presentation

Problem Solving

Reading

Reflect

Research

Short Quizzes

Silent reflection

Simulation

Specified learning activities

Team teaching

Tutorials

UDL

Use of Moodle as a repository

Workshops

Module Assessment Strategies

(Hold down CTRL and click on link to access)

Types of assessment:

Examination

Case Studies

Essays

Interviews (Oral Examinations)

Laboratory work

Multi-Choice Questions

Open Book Examination

Paper

Portfolio (or Reflective Diaries)

Podcasts

Poster (or Infographic)

Practicals

Programming (Code and Video)

Questionnaire

Video animation

Video (or Presentation)

Guidance on the assessment methods above and how to ensure equity to all students can be found in the article Don’t Panic: The Hitch-hikers Guide to Alternative Assessment.

Valuable guidance to all assessment and feedback can be found on the IT Sligo CELT Moodle Page

Tips for incorporating flexibility into assessments

Repeat Assessments

Continuous assignment or exam.

Indicative Syllabus

1.  Introduction to Business Strategy -

  • Business strategy concepts and a theoretical review
  • The exploring strategy model
  • Strategy statements
  • Strategy at work - ‘doing strategy’ and ‘strategy in practice’
  • Recommended readings


2.   The Macro-Environment and Industry/Sectoral Analysis – Dealing with Uncertainty in a Changed World

  • PESTLE framework and scenario planning 
  • Competitive forces and M.E. Porter’s model and analytical framework
  • Industry structure and strategy dynamics
  • Strategic groups and ‘Blue Ocean’ thinking
  • Recommended readings

3.   Resources and Capabilities Analysis -

  • Resources and competences
  • ‘VRIO’ capabilities as a basis for competitive advantage
  • Benchmarking and the value chain
  • Recommended readings

4.   Stakeholders and Corporate Governance - Strategic Purpose

  • Prescriptive purpose through objectives, mission, vision and values
  • Stakeholder groups and expectations
  • Governance models and how boards of directors affect business strategy
  • Corporate social responsibility, ethical behaviour and sustainability
  • Critical reflections – case studies and examples

5.   History, Heritage, Legacy and Culture/Subcultural links to Business Strategy -

  • Definition and importance of organisational culture
  • Culture creation and crafting a strategy
  • ‘Strategic drift’ and transformational change
  • Recommended readings

6. Developing Business-Level Strategy -

  • Strategic business units
  • Generic competitive approaches
  • Cost leadership
  • Differentiation
  • Focus
  • ‘Stuck in the middle’ fallacy
  • The Strategy Clock
  • Interactive strategies

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 Organisational Audit, In-Depth Report or Case Study Project Assignment 20 % Week 7 1,2,3
2 Presentation and Research Interview Coursework Assessment Assessment 10 % OnGoing 3,4
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 End of Semester Exam Final Exam Closed Book Exam 70 % Week 15 1,2,3,4,5
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Lecture Theatre In Class Learning 3 Weekly 3.00
Group Learning Flat Classroom Independent Learning 1 Weekly 1.00
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

Required Reading
2021-01-19 ISE Crafting and Executing Strategy: the Quest for Competitive Advantage: Concepts and Cases
ISBN 1265028249 ISBN-13 9781265028244
Recommended Reading
2019 Strategic Management
ISBN 0135203694 ISBN-13 9780135203699
Recommended Reading
2018-07-24 Strategic Management and Competitive Advantage
ISBN 1292258047 ISBN-13 9781292258041
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
1998-06-01 Competitive Strategy 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
2016-12-22 Exploring Strategy Text and Cases
ISBN 1292145129 ISBN-13 9781292145129

With over one million copies sold worldwide, Exploring Strategy has long been the essential strategy text for managers of today and tomorrow. From entrepreneurial start-ups to multinationals, charities to government agencies, this book raises the big questions about organisations- how they grow, how they innovate and how they change. Texts and Cases also provides a wealth of extra case studies written by experts in the subject to aid and enrich your understanding. Examples are taken from events and organisations as diverse as Glastonbury, Mondelez and Formula 1 racing.

Module Resources

Non ISBN Literary Resources
Journal Resources
URL Resources

Multiple on-line resources and podcasts will be referenced during semester

Other Resources
Additional Information