LF912-10 Business Strategy
Introductory description
The primary goal of this module is to provide students with a solid foundation in the essentials of business strategy development and implementation.
Module aims
This module offers an integrated view of the role and importance of strategy and strategic management within the wider business context and more specifically, the biotechnology/bioprocessing context.
The focus is on understanding the development of business and corporate strategy, the formulation of strategic plans, and the implementation of those plans to achieve strategic goals and in a biotechnology/bioprocessing context in particular.
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.
Typically, the syllabus material includes (but is not limited to):
The Concept of Strategy;
Tools of Strategy Analysis (Goals, Values, and Performance; Industry Analysis; Competitive Analysis; Analysing Resources and Capabilities; Organization Structure and Management Systems);
Business Strategy and the Quest for Competitive Advantage (Sources and Dimensions of Competitive Advantage; Technology-based Industries and the Management of Innovation);
Corporate Strategy (Global Strategy; Growth Strategies)
Learning outcomes
By the end of the module, students should be able to:
- Understand the role and importance of strategy within the general business context.
- Identify and evaluate key factors affecting strategic decisions.
- Know and utilise the terminologies, concepts and methods of strategic planning and implementation.
- Research, synthesise and apply strategic tools to real and practical examples.
- Strategy analysis and developing recommendations for particular businesses.
- Communicate findings in appropriate language/terminologies.
Indicative reading list
Required:
Grant, Robert M. (2019). Contemporary Strategy Analysis, 10th edition, Chichester: Wiley.
Recommended:
Rumelt, R. P. (2011). Good strategy, bad strategy. London: Profile Books.
Fernald, K., Pennings, E. and Claassen, E. (2015). Biotechnology commercialization strategies: Risk and return in interfirm cooperation. Journal of Product Innovation Management, 32(6), pp.971-996.
View reading list on Talis Aspire
Subject specific skills
Strategy analyses and developing recommendations for particular businesses.
Transferable skills
Improve business presentation skills.
Identify and evaluate key factors affecting strategic decisions.
Communicate findings in appropriate language/terminologies.
Study time
| Type | Required |
|---|---|
| Lectures | 15 sessions of 1 hour (25%) |
| Seminars | (0%) |
| Practical classes | 10 sessions of 1 hour (17%) |
| Private study | 9 hours (15%) |
| Assessment | 25 hours (42%) |
| Total | 59 hours |
Private study description
Research
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Assessment group A3
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| Written Assignment | 100% | 25 hours | Yes (extension) |
|
Written assignment requiring the student to integrate some learnings from across the module. A single individual assignment counting for 100% of the module mark is feasible as the assignment brief is to have sections to it that require the student to ( part 1 counting 60%) describe, discuss and critically evaluate a marketing strategy for a firm's new product or service of their choice, (part 2 counting 20%) integrate business strategy learnings from a case study the student's group was assigned and presented on during the module, and (part 3 counting 20%) integrate business strategy learnings from the student's group's final business strategy simulation presentation. Source material is to be from lecture content, assigned reading, and their business strategy simulation online resources. Required content is to include references to relevant marketing concepts, models and frameworks as appropriate. The full wording of the assessment brief will be provided in the module outline posted on Moodle at the start of the module as is the current practice. |
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Feedback on assessment
Written individual feedback to each student on written assignment. Face-to-face feedback on any assessment provided on request from the student.
Courses
This module is Core for:
- Year 1 of TLFS-J7N2 Postgraduate Medical Biotechnology and Business Management
- Year 1 of TBSS-C5N2 Postgraduate Taught Biotechnology, Bioprocessing and Business Management
This module is Core optional for:
- Year 1 of THRA-D4A1 Postgraduate Taught Environmental Bioscience in a Changing Climate
-
THRA-D4A3 Postgraduate Taught Food Security
- Year 1 of D4A3 Food Security
- Year 1 of D4A3 Food Security
- Year 1 of THRA-D4A2 Postgraduate Taught Sustainable Crop Production: Agronomy for the 21st Century
This module is Optional for:
-
TCHA-F1PW Postgraduate Taught Polymer Science
- Year 1 of F1PW Polymer Science
- Year 2 of F1PW Polymer Science