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 organisations
2. understand the significance of the learning organisation and the complexity of cultural considerations in formulating strategy
3. access and critically interpret business statistics
4. analyse, interpret and contextualise appropriate strategic initiatives at corporate and business levels of the organisation to current and future issues facing Australian and global business environments
5. 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 organisation. Particular emphasis will be placed on the Pacific Rim region.

• What is strategy and why is it important.
• Core concepts and analytical tools — analysing a company's external environment, resources and competitive position.
• Crafting the strategy — the quest for competitive advantage, competing in foreign markets.

Assessment

Assessment item 1: Case Study Analysis (Individual) – written and presentation

Assessment item 2: Simulation (Group)

Assessment item 3: Final Examination (Individual)

Required text(s)

Hill CWL, Jones GR and Galvin P, 2006, Strategic Management – An Integrated Approach, 2nd edn, John Wiley & Sons.

Indicative references

Johnson G, Scholes K and Whittington R, 2005, Exploring Corporate Strategy: Text and Cases, 7th edn, London Prentice Hall.

Hanson, Dallas, Dowling, Peter, Hitt, Michael A, R Duane Ireland and Robert E Hoskisson, 2005, 2nd edn, Pacific Rim Edition, Strategic Management: Competitiveness and Globalization, Southbank, Vic: Thomson Learning

Thompson, Arthur A and Strickland, AJ, 2003, Strategic Management: Concepts and Cases, 13th edn, McGraw-Hill/Irwin

Viljoen, J and Dann, S, 2003, Strategic Management: Planning & Implementing Successful Corporate Strategies, 4th edn, Prentice Hall: Australia.

De Geus, A, and Senge, P, 1997, The Living Company: Growth, Learning and Longevity in Business Nicholas Brealey Publishing: London, p 215

Grant R, 1998, Contemporary Strategic Analysis, 3rd edn, Oxford. Blackwell

Hill C, and Jones G, 1998, Strategic Management Theory, 4th edn, Houghton Mifflin

Mintzberg, Henry (1998) Strategy Safari: A Guided Tour Through the Wilds of Strategic Management, Simon & Schuster, ISBN: 0684856778

Mintzberg H, 1994, The Rise and Fall of Strategic Planning, Prentice Hall

Mintzberg H and Quinn J, 1992, The Strategy Process, Prentice Hall

Porter, ME, Competitive Strategy, The Free Press, Macmillan Publishing, 1980

Porter, ME, Competitive Advantage, The Free Press, Macmillan Publishing, 1985

Segal-Horn S (ed), The Strategy Reader, Blackwell Business, 1998.

Articles or links to articles that seem particularly relevant will be posted on UTSOnline in Course Documents (e.g. some key Harvard Business Review articles).

Relevant academic journals

Harvard Business Review

Journal of Business Strategy

Journal of Business Venturing

Long Range Planning

Strategic Management Journal