21715 Strategic Management

Subject level: Postgraduate

Handbook description

This is an integrating subject concerned with top management strategy for, and management of, change in the economic and social environments of business. Case studies from real business situations are examined. Topics include strategy formulation, strategic planning, management audits, management of change, and social responsibility and corporate effectiveness.

Subject objectives/outcomes

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

1. develop and implement strategic responses to current and future issues facing the global business environment
2. apply core business skills to problem analysis and decision making
3. apply a series of tools to determine industry and company structures
4. determine an organisation's core competencies
5. identify industry key success factors
6. understand the use of alliances and partnering to develop competitive advantage
7. recognise that paradoxical views may result from the application of different theoretical models
8. identify the strengths and weaknesses of a company, and the opportunities that exist in its industry.

Contribution to graduate profile

Strategic Management is a capstone subject and integrates the core business skills acquired in subjects of the degree to strategic problem analysis and decision-making. Strong emphasis therefore is placed on integrating the skills acquired in the prerequisite subjects. The subject develops further the concept of sustainable competitive advantage with a particular focus on identifying sources of advantage within the competencies of the firm, and the structure of the industry in which it operates. The subject's aim is to develop skills essential for developing and implement strategic responses to current and future issues facing the global business environment. The subjects major contribution is facilitated by lecture material and assessments tasks that focus on the critical analysis of stakeholder requirements and innovative business opportunities in global conditions of rapid social and environmental change Guest lecturers from a range of industries illustrate a range of theoretical models with practical examples. The subject develops the students' ability to identify both weaknesses and opportunities in organisations, and to craft a strategy appropriate to the position. Through case studies and strategy simulations, students are able to apply and integrate strategic management theory, and through that to identify the paradoxes which exist. At the end of the course, students are equipped to analyse an industry's structure and its value chain, a company's competence and competitive position, the impact of regulation, and the use of alliances and partnering to build sustainable advantage.

Teaching and learning strategies

Classes will involve a combination of lectures, videos, guest speakers, simulation, problem-solving exercises, group and team dynamics activities and experiential learning reflection will be some of the teaching strategies utilised in this subject. These methods will be supplemented with both printed and electronic learning materials and resources. The UTS web-based communication tool (UTSOnline) will be used to share information and encourage interaction between staff and students.

Content

• Strategic management process — the nature and scope of strategic management
• Strategy design and planning
• Industry and competitive analysis
• e-commerce and the value chain: company situation analysis
• Crafting strategies for competitive advantage
• Corporate diversification strategies — intent and fit
• Strategic analysis of diversified companies
• Implementing strategy
• Strategic alliances and virtual networks
• Entrepreneurship and innovation

Assessment

Assessment item 1: Case Study (Individual)

Assessment item 2: The Business Strategy Game – Simulation. (Group)

Assessment item 3: Final Examination (Individual)

Required text(s)

Thompson Jr, Strickland III AJ and Gamble JE, 2008, Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases, 16th edn, Boston: McGraw-Hill/Irwin New York, USA.

Indicative references

Amit, R and Zott, C., 2000 Value Drivers of E-Commerce Business Models, Academy of Management, 2000 Annual Conference, Toronto Canada, August 5-9, 2000

Clarke, T. and Clegg, S. 1998, Changing Paradigms – the Transformation of Management Knowledge for the 21st Century. Harper Collins Business

D'Aveni, Richard A., 1995, 'Coping with hypercompetition: Utilising the new 7S's framework', Academy of Management Executive, 9(3): 45-60, August

Davis, J. and Devinney, T. (1997). The Essence Of Corporate Strategy: Theory for modern decision making. Sydney: Allen & Unwin

Hamel, G. 2000, Leading the Revolution, Harvard Business School Press, Boston

Hitt, M, A. Keats, B, W. DeMarie, S. M. 1998, 'Navigating in the new competitive landscape: Building strategic flexibility and competitive advantage in the 21st century', Academy of Management Executive, 12(4) pp. 22-42. Nov

Kaplan, R.S. and Norton, D.P. 1996, The Balanced Scorecard: Translating Strategy into Action. Harvard Business School Press, Boston

Kim, W. Chan and Mauborgne, R., 1999, 'Strategy, Value Innovation, and the Knowledge Economy', Sloan Management Review, 40(3) pp. 41-54, Spring

Liedtka, J. 2000, 'In defence of strategy as design', California Management Review, 42(3) pp. 8-30, Spring

Means, G.E. and Faulkner, M. 2000, 'Strategic innovation in the new economy', Journal of Business Strategy, 21(3) pp 25-29, May/Jun

Moore, J. (1992). Writers on Strategy and Strategic Management The Theory of Strategy and the Practice of Strategic Management at Enterprise, Corporate, Business and Functional Levels. London: Penguin

Pfeffer, J. and Sutton, R.I. 1999, ' Knowing 'what' to do is not enough: Turning knowledge into action', California Management Review, 42(1) pp. 83-108, Fall

Stringer, R., 1999 'How to Manage Radical Innovation', California Management Review, 42(4): 70-88, Summer

Viljoen, J (2000). Strategic Management Planning and implementing successful corporate strategies (3rd edn), London: Longman Business & Professional

Johnson,. G, & Scholes, K. (2000). Exploring Corporate Strategy (5th edn), Englewood Cliffs, NJ.: Prentice Hall

Whittington, R. (2001). What is Strategy and does it matter? London, England: Thompson Learning

Journals

Apart from the daily business and general press, the major journals that provide both general and/or specific coverage of topics addressed in this subject include:

• The Economist (UK)
• Business Review Weekly (AUST)
• Harvard Business Review (USA)
• The Journal of Management (UK)
• The Journal of the Academy of Management (USA)
• The Journal of the Academy of Management Executive (USA)
• Strategic Management Journal (USA)
• California Management Review (USA)