Introductory description

Strategy is fundamentally concerned with managing the long-term direction of a whole business. This module sets out to understand the difference between strategy at the level of the individual business (or business unit) and at the corporate level. To do this, the module outlines the basic analytical concepts, frameworks and methods used in setting a company's long-term direction. It is distinctive in three ways:

• The way it draws on concepts and techniques from economics and the other subjects mentioned above.
• The way it views strategy from the perspective of strategic decision making.
• The way it combines the analytic foundations for making strategic decisions with the responsibility of general managers to orchestrate the resources of the business in order to achieve sustained, superior performance.

This module helps in this endeavour by providing an integrated approach to business within which one can see the overall strategic intent and the differentiated and distinct contributions that different functions and teams make towards this intent. It helps students to understand how strategic decisions can define the changes a company seeks to make to themselves and their market.

To note - this module shares the same learning outcomes and syllabus with the Strategic Advantage module for Executive and Distance Learning MBA students. This module represents at extra 5 CATS - this is due to the increased number of case studies used, non-assessed group work for students and slightly longer assessment.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

1. What is strategy?

2. Environment/industry analysis

3. Strategic positioning

4. Competing on resources and capabilities

5. Diversification/Internationalisation

6. Competitive analysis

7. Strategic alliances/coopetition

8. Modern strategic approaches (e.g., behavioural strategy; strategy and technology)

Learning outcomes

By the end of the module, students should be able to:

• Demonstrate a comprehensive understanding of the key elements of strategy and strategic advantage for the leadership of individual organisations, balanced against the demands of their industries
• Demonstrate a critical understanding of the multi-dimensional performance criteria for a successful long-term strategy, including both monetary (e.g., growth and profits) and non-monetary (e.g., reputation, sustainability) elements
• Engage critically in how environmental forces influence companies; examples include legal factors, demographics, ethical & social issues and technological changes
• Critically evaluate business strategy and translate this into actionable knowledge

Indicative reading list

Illustrative bibliography (will vary annually in response to changes in syllabus): Core text:

Grant, R.M. (2016), Contemporary Strategy Analysis (9th edn), Oxford: Wiley

Sample academic journals:

Collis, D. J. & Rukstad, M. G. (2008) Can you say what your strategy is? Harvard Business Review, 86, 4, pp. 82-90
McGahan, A.M. (2004) How Industries Change, Harvard Business Review, 82, 10, pp. 86–94
Porter, M.E. (2008) The Five Competitive Forces that Shape Strategy, Harvard Business Review, January, pp. 79–93
Fox, C.R., Lovallo, D. and Powell, T.C. (Eds) (2001). Psychological Foundations of Strategic Management. Strategic Management Journal, Vol. 32(13), Special Issue, pp. 1369-1523.

Subject specific skills

Diagnose and interpret environmental and industrial forces that drive and constrain strategic options for business
Evaluate existing strategies and develop alternate ones contingent on the demands of the organisation and its industry context.
Analyse positioning strategies of firms and evaluate them against the necessary competencies and resources of the organisation.

Transferable skills

Demonstrate developed written communication and numeracy skills.
Demonstrate effective use of information technology.
Demonstrate problem-solving skills