It also needs the organization’s management to manage internal organizational resources and capabilities so as to meet the demands of customers, suppliers and other agents (often referred to as takeovers) with whom their organization interacts and on whom it depends. The way in which strategy is developed may vary considerably between organizations from a relatively formal, planned process through to a more informal, emergent process.
The scope of strategy and strategic management is broad, and is interrelated with many other aspects of management such that it affects, and is affected by, operational, marketing and financial strategies. In addition there are many other challenges that relate to the size of the organization, its history, and the sector(s) within which it operates. A eye challenge in a large, multi-divisional organization for example, is to successfully steer the corporate hexed ratters without losing sight of the needs and relationships between different business units that may be operating in very different markets.A public sector organization on the other hand, may find its greatest challenge is in maintaining a coherent strategy when Political/Governmental directions change regularly and the policy context becomes characterized by many competing performance indicators and often decreasing availability of resources. Whilst this course cannot provide in-depth insight into all types of organizations and in all sectors, it will provide a sense of the dimensions of strategic management and the types of challenges associated with creating and implementing a competitive strategy.In examining these issues, we will draw mainly on one core textbook (Johnson et al, 2011) but as you will see from the remainder of this course guide, we have suggested other readings from textbooks and from journal articles.
These readings are indicative of the sort of material you might want to consult. In preparing your assignment, we would encourage you to look for Other material. Course Aim The aim of this course is to examine ideas and theories about strategy, and to show how these relate to the management role within organizations.The course also aims to enable students to develop an understanding of strategy analysis and implementation. Learning Outcomes There are a number of learning outcomes for the course.
They do not carry equal emphasis within the course, but all will be addressed to some extent. The learning outcomes are represented below in the left hand column and are the outcomes that should be demonstrated through the assignment and/ or the examination.The right hand column indicates where these outcomes are addressed within the taught element of the course. Broadly speaking, the course outcomes can be categorized into those relating to strategic analysis, and those related to strategy implementation. Although students cannot be expected to demonstrate abilities in implementing strategy, an understanding of the implementation process is expected.Intended Learning Outcomes the learning outcome I Means of addressing I Strategic Analysis Littleton the ways in which an organization’s competitive advantage Section 1 will address the core issue of how to create sustainable I I can be established and maintained will set out approaches to understandings I I competitive advantage, and and analyzing the external organizational environment and the internal organizational environment such that the bases of competition within the industry and within the organization might I be understood and any advantage sustained.The sessions will I provide key analytical tools (such as a PESTLE analysis), and will I consider types of advantage and competitive strategies (competitive, institutional and collaborative).
They will also I consider perspectives on the organization’s internal environment – I its resources and capabilities, and the Way in which resources and I I capabilities might be combined so as to create unique ‘organizational recipes’ that may create competitive / institutional or collaborative advantage.I Conduct comprehensive strategic analysis of an organization’s I operating environment and its resource base Describe the main objectives of economic policy and the conduct of I I monetary policy I Describe the determinants of demand and supply and show how they linearity a market Strategy Formulation & Implementation Littleton and formulate possibilities for the strategic development f I Section 2 will consider what options are available to an organization on both the business unit and corporate levels I organization, and how it might implement its strategy following Ethel analytical stages outlined above.Key issues concern the relationship between strategy and structure, as well as the extent I Tit which strategy emerges or is planned. Also, important is the I debate over how a firm chooses the appropriate choices between I organic development, strategic alliances and mergers and acquisitions. I Formulate a viable organizational strategy for an organization I Determine the appropriate choices between organic development, Mergers and acquisitions and strategic alliances.I Demonstrate a critical understanding of different approaches to the I subject of strategic management **Descriptions of the topics covered on the course (and provided in the summary course outline previously circulated) have been included in this course outline in the Appendix at the end.
Learning and Teaching Throughout the course we will make use of traditional lecture methods, small and large group discussions, small group exercises and analyses of case studies.