21193 Business Strategy

Subject level: Undergraduate

Handbook description

This subject introduces the concept and process of strategic analysis and decision making. It provides the competencies, skills and understanding necessary for implementing and managing the strategy process which aims to ensure the long-term viability and success of an enterprise. Thus, students can more readily understand, communicate and materially contribute to the purpose of the organisation. The subject gives participants an understanding of the contemporary business environment in which business operates and how decision-making processes, leadership and organisational politics impact on the strategic activities of managers.

Subject objectives/outcomes

On successful completion of this subject students should be able to:

1. Understand the nature of the strategy process and the forces that influence strategic decisions in contemporary Australian and international organizations.
2. Understand the significance of the learning organization and the complexity of cultural considerations in formulating strategy.
3. To access and critically interpret business statistics.
4. Analyse, interpret and contextualize appropriate strategic initiatives at corporate and business levels of the organization to current and future issues facing Australian and global business environments.
5. To develop an awareness of the principles of ethics and corporate governance in a variety of settings.

Contribution to graduate profile

Business Strategy provides a framework for the application of business strategy and strategic management for the core of the Bachelor of Business program. It contributes to the objectives of the core by focusing on the development of vocationally relevant understandings of how strategic action is developed in a global business context and strategic information is collected, analyzed, and constellated into strategic choices and actions impacting on all functional areas. Specifically, how these decisions affect the long-term direction, the competitive advantage, and the appropriate configuration of activities and resources to meet the needs and expectations of its various stakeholders in the global business environment. These understandings also take account of the imperative to integrate business functions, the dynamics and complexity of changing environments, and the pressures for corporate social responsibility and ecological sustainability of decisions. The subjects focus is on stimulating the competitive energy of students and prepare them for the rigors of real-world business decision-making in the course of a group computerised simulation.

Teaching and learning strategies

This subject is delivered through a variety of face-to-face and online teaching strategies. Lectures involve face-to-face content delivery, employing the use of media and electronic resources to enhance the theoretical delivery of the subject. An intensive tutorial program utilises case studies and experiential exercises to link theory and application. Group leadership and team skills are developed through an online simulation. The simulation will thrust the students into becoming active strategic thinkers and planners. They are driven to use the tools and concepts of strategic analysis and help students understand the challenge of managing a business. Students are further supported through the use of UTS Online offering subject material and information and moderation with the subject coordinator.

Content

The aim of this strategic analysis and decision-making subject is to provide you with the competencies and skills necessary for understanding, implementing and then managing the strategy process so as to ensure the long-term viability and success of an enterprise operating within a highly competitive environment. Thus, students will then be in a better position to more readily understand, communicate and materially contribute to the purpose of the organization. Particular emphasis will be placed on the Pacific Rim region.

• What is strategy and why is it important.
• Core concepts and analytical tools - analyzing a company's external environment, resources and competitive position.
• Crafting the strategy - the quest for competitive advantage, competing in foreign markets.
• Executing the Strategy – building a capable organization, managing internal operations, and actions that facilitate strategy execution.

Assessment

The assignment requires the students to write an essay based on the fundamental principles of management. It addresses objectives 1, 2 and 5.

Students are required to collaborate with team members in an online simulation. It requires students to work collaboratively within their across both national and international fields. It assures objectives 3, and 4.

The examination will be in a multiple choice format. It assures objectives 1, 2 and 5.

Examinations will be conducted under University Examination conditions, and hence thoroughly address secure assessment concerns. Group assessment online is subject to restricted access and monitored by the subject coordinator. Individual essay assessment is subjected to plagiarism detection software.

Recommended text(s)

Thompson, Arthur. A., & Strickland, A.J. 2005. Strategic Management: Concept & Cases (14th Ed) Boston: McGraw-Hill/Irwin.

Thompson, A.A, and Stappenbeck, G.J. (2005). Glo-Bus: A Global Industry Simulation Boston: Irwin/McGraw-Hill.

Indicative references

Johnson,. G, & Scholes, K. (2004). Exploring Corporate Strategy (6th Ed.). Englewood Cliffs, NJ: Prentice Hall.