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.

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

Dependent on variant, core texts to include:

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

Johnson et.al. (2017), Exploring Strategy – Text & Cases, 11th edition, Pearson

Sample extra texts:
De Wit. 2017. Strategy-An international perspective (6th edition). Engage Learning EMEA.

Volberda, H.W.; Morgan, R.E.; Reinmoeller, P.; Hitt, M.A.; Ireland, D.R. and Hoskisson, R.E. (2011) Strategic Management: Competitiveness & Globalization, Hampshire: Cengage Learning EMEA

McGee, J.; Thomas, H. and Wilson, D. (2010)
Strategy: Analysis and Practice (2nd edn)
Maidenhead: McGraw-Hill

Angwin, D.; Cummings, S. and Smith, C. (2011)
The Strategy Pathfinder (2nd edn)
Oxford: Blackwell Publishers

Sample academic journal articles:

European Management Journal
Harvard Business Review
Journal of International Business Studies
Administrative Science Quarterly
Strategic Management Journal
Organisation Science
Academy of Management Journal
Academy of Management Perspectives

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

Develop written communication skills
Develop numeracy skills
Use information technology