MN30449: Strategic management
[Page last updated: 09 August 2024]
| Academic Year: | 2024/25 |
| Owning Department/School: | School of Management |
| Credits: | 6 [equivalent to 12 CATS credits] |
| Notional Study Hours: | 120 |
| Level: | Honours (FHEQ level 6) |
| Period: |
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| Assessment Summary: | CW 100% |
| Assessment Detail: |
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| Supplementary Assessment: |
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| Requisites: | Before taking this module you must take MN10070 OR take MN20034 OR take MN20081 OR ( take ES10001 AND take ES10002 ) OR take MN20604 OR take ES10010 |
| Learning Outcomes: |
By the end of this unit, the student should be able to:
* display a sound understanding of theories of strategic management and be able to appraise models and evidence critically; * determine how the external environment (economic, legal, social, political) in which organizations operate relates to the strategy of a firm; * evaluate and interpret new information and theory, and engage in problem solving, thereby demonstrating a capacity to think clearly, logically and practically about a range of strategic business issues; * analyse and characterise the nature of the strategic situation facing a firm or other organisation under conditions of imperfect knowledge; * identify feasible strategic responses to that strategic problem context; * assess strategic responses for suitability; * advocate a strategic option after assessment; * formulate and recommend the means for implementing the chosen strategy. |
| Aims: | * provide students with an in-depth appreciation of strategic management thinking and decision-making; * explore the many, wide ranging issues that comprise strategy and how they may be resolved; * help develop the abilities of strategic thinking, analysis and judgement. |
| Skills: | Intellectual Skills
* a systematic understanding of organisations, the internal and external context in which they operate and how they can be effectively managed (TA) * the facility to apply subject-specific knowledge into a range of complex situations, taking into account the overall implications for the other areas of the business (TFA); * a critical awareness of current issues and frameworks in strategic management (FA); * a conceptual understanding of theoretical concepts and frameworks that enables the student to meaningfully link theory and practice and the ability to critically appraise both theory and practice (TFA); * an understanding of appropriate research and methodological techniques that allow detailed investigation into topical business issues and ability to use these skills to produce professional, critical reports and presentations in business and management (TA). Professional Practical Skills The ability to: * analyse the main features of industry and market environments (TFA) * identify/determine a firm's position and strength within an industry/market (TFA) * assess the positioning and strategies of firm competitors (FA) * identify the firm strategy currently pursued (TFA) * understand the competencies a firm uses in its strategy (FA) * assess firm financial performance, and understand the basic features of its production system and production technology and their implications for the strategy of the firm (FA) Transferable/Key Skills The ability to: * develop a holistic perspective on an organization and an understanding of how the different functions relate to one another (TFA); * develop an in-depth understanding of the resources and competences required for successful cross-functional management in organisations (TA); * conduct in-depth research into management and business issues (FA). * listen and analyse in real-time (TFA) * enlarge the debate by adding value to that which has been presented, including: (TFA) - sharpening the focus and/or interpretation of key strategic issues, - integrating information presented but not utilised in the analysis, and - constructively challenging conclusions, where appropriate, by offering insightfully derived strategic action alternatives * synthesise debated issues and provide analysis and closure on an extemporaneous basis (FA) Personal/Interpersonal The ability to: * communicate, including presenting and marketing themselves and their ideas (FA) * prepare and produce effective business presentations (TFA) * engage in critically constructive debate (FA) * recognise intra/entrepreneurial risks and opportunities (FA) * develop and manage team relationships (FA) * use enterprise skills to advantage established and start-up firms (F) |
| Content: | The course introduces students to the core issues, themes and perspectives in the strategy field as well as selected new and emerging approaches. Beginning with an introduction to the field the course covers the following areas:
* Assessing the competitive environment and competitive dynamics * Assessing, developing and maintaining strategic capabilities * Competitive/business level strategy * Corporate strategy * Contemporary issues in strategic management theory and practice. |
| Course availability: |
MN30449 is Optional on the following courses:Department of Chemistry
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Notes:
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