Strategy management report
Aliciadeng
strategic_management.pdf
Strategic Management
6HO705
Module Handbook Spring 2016
Sydney Moyo
Lecturer
Belvedere, Floor 1
Page 2
Module Title: Strategic Management Module Code: 6HO705 Number of Credits: 20 Credit Level: 6 Learning Hours: 200
Key words:
MODULE DESCRIPTION
Service sector organisations must recognise the need to stay abreast of changes in the external environment and remain goal focused to ensure company objectives are met in both the short and long term. Increasing competition, dynamic customer demand and the pace of technology have led to a realisation that organisations need to flexible, agile and responsive to change. To this end, businesses need to identify and critically examine future developments within the service sector, and develop appropriate management strategies and actions to facilitate change. Organisations that are risk adverse will take longer to proactively meet the changing external environment and this module seeks to develop an awareness of the organisational approach to risk by analysing appetite and maturity levels. The module aligns with the nationally recognised need for undergraduates to have a far deeper understanding and greater knowledge of international issues and general awareness of the global agenda.
LEARNING OUTCOMES
On successful completion of the module, students will be able to:
1. Critically analyze strategic and non-strategic decisions, positions and the differences between functional, business-level and corporate-level strategies.
2. Evaluate the role of risk, uncertainty, and trade offs play in strategic decision making.
3. Critically assess the need for change, develop strategies for managing change and monitor the change.
INDICATIVE CONTENT
• The process of strategic planning; the service sector business environment; current and future perspectives and challenges
• Understanding the context of global strategic alliances, mergers and acquisitions
• Globalisation of markets and competition to include the phenomenon of both global and glocal markets combined with localised responses to Global integration.
Page 3
• Global marketing, branding, standardisation, advertising, positioning the role of media, business Internet space
• Global financial management, project financing, currency fluctuations, global capital structures, funding control
• Risk Management, Appetite and Maturity • Strategies for managing change • Managing culture in global organisations • Internationalisation and diversification of organisations
MODULE LEARNING AND TEACHING METHODS
A variety of learning and teaching methods will be used including: lectures, workshops, group work, class discussions, case studies and critical reflection on your studies. Lectures will offer theoretical perspectives that will be explored in depth through lecture sessions focused on group working. Tutorial sessions will be contextualized to different industries to support related product and organizational development strategies, but these will be predominantly student-led to allow for further discussion, debate and independent thought of the topics covered in the module. The module will be delivered via a combination of lectures that will be generic whilst the seminars / tutorials will be contextualized to the subject area.
Page 4
MODULE OUTLINE
W Lectures Tutorials Cloud Activity
10 Introduction to strategic management and strategy framework
Discuss strategies for managing knowledge and strategy framework questions
Read article, ‘What’s your strategy for managing knowledge
11 Understanding strategic management & deliberate and emergent strategy
Discuss Case Study ‘Northern European Tour Operator’ using Mintzberg’s five Ps
Read Case study : NextJet’s Change Mission & link it to Strategy for managing knowledge
12 Mission & Vision : Objectives. Assessing Internal Environment
Discuss articles creating mission statement & strategies & link to levels of strategic decision-making
Watch Hilton Worldwide – Vision, Mission & Values & Case example – Hotels & Airlines
13
Analyzing External Environmental : Porter’s 5 Competitive Forces and Strategic Positioning - SWOT
Formative Presentations for Course Work 02 & discussion of firm competitive advantage
Article reading: firm resources and competitive advantage & link to strategy framework
14 Strategic Tools 1 and auditing resources capabilities approach & manager competencies
Course Work 02 Presentations and slides submitted to turnitin at 15h00 of presentation day
Reflections on challenges of future Hotels and Tomorrow’s Hospitality Manager & Co- Alignment Principle
15 Strategic Tools 11: Strategic choice, Porters Generic strategies and Ansoff growth strategies
Group discussions on Learning Organizations and links to Strategic Tools
Read articles : Leader’s role in building learning organizations and integrated risk management
16 Managing change and innovation and role of force field theory and related theories
Formative Presentations for Course Work 01 and watch clip force field presentation
Group Learning Sets select a business environment and evaluate external Pest forces
17 Managing change at individual, business and corporate levels of impact
Discuss challenges of getting managers to think strategically
Submission report for Course Work 01. Meet submission deadline Friday 15h00
18 SM Learned & Reflected Stories
SM Learned & Reflected Stories
SM Learned & Reflected Stories
*Content of above is subject to change… please refer to the course materials posted in Moodle.
Page 5
FORMATIVE ASSESSMENT
These are assessments such as mini-presentations and written exercises that you as a student in a group or individually will undertake during lectures and in tutorial sessions. Feedback for these will be given during the tutorial sessions. These assignments are not formally graded but are designed to enhance the student learning experience and skills. In addition there will be an opportunity in Week 13 to share your findings in the class with peers and the module leader. The feedback will be useful to further develop the learning. Opportunities for individual consultation with the module leader would be made available by arranging an appointment to discuss your group presentation and individual report ideas. SUMMATIVE ASSESSMENTS Weighting: 100% Coursework Coursework 01: Assessing learning outcomes 1 & 2 Weighting: CW01: 50% / CW02: 50% Coursework 01: Assessing learning outcome 2 & 3 Coursework 02: Assessing learning outcome 1 & 2 COURSEWORK CW 1 (50%) The course work is an individual report where you are required to write a report on the case organization’s implementation of its chosen strategy. The report should analyze and evaluate the organizations chosen strategy highlighting its suitability given the competitive environment. The report should also address the consequential implications of change that will occur as the strategy is implemented and suggest how organizations could manage these changes so that the strategy is effectively implemented. The report should demonstrate selected strategic management process of a current business setting and evidence how intervention techniques have been applied for improving business effectiveness. The report is justified using analyzed and evaluated theories. This is a 2,500 word report. The purpose of this report assignment is aimed at developing skills for proposing and implementing strategic analysis and changes that has an impact on hospitality business environments. Students will select and analyze hospitality industry workplace events, programs or services and propose strategic change for improvement. The report will be based on Learning outcome 2 & 3
Page 6
The following structure for the individual report guideline is recommended: Title page: Include report title, students’ names and students’ numbers, module name and code, assessment task, lecturer’s name and date.
Background: Description of the business situational context. Explanation as to why analyzing the organizational case strategy is important and explanation of the competitive environment. In approximately 200- 300 words, provide a basic background to the strategic communication plan, state the purpose of the report and provide overview of the rest of the content.
Contents page: List the contents of the essay report (headings, sub-headings) and the page numbers they appear on.
Presentation of main ideas: Analyze and evaluate your chosen organizational business strategy supported with theoretical perspectives and strategic processes. A. Analyze the organization’s external competitive environment to identify
opportunities and threats. B. Analyze the organization’s internal operating environment to identify the
organization’s strengths and weaknesses.
Critical evaluation: Evaluate the implications and justifications on how strategies are implemented and outline how the changes are managed effectively. A. Justify how selected strategies are consistent with mission and major goals of
the organization. B. Demonstrate how employed strategies are congruent and constitute a viable
business model. C. Reflect on the role you played either as an internal consultant or internal
change agent in improving business or organizational effectiveness. Conclusion: In 300 – 400 words state the summary and evaluation of the ideas and statement of your own point of view with reasons. Explain why organizational managers should select the outlined strategies.
*Support your report with examples and evidence of theories and models from academic literature readings of strategic management and intervention techniques discussed in class and module content. * Select a different hospitality business for this report than the one you used for your group work presentations.
Page 7
Referencing in the text: Reference all citations in the text of the assessment.
Referencing section: Provide references on a separate page at the back of the report using Harvard method.
Appendices: If appropriate, provide appendices.
FORMATTING GUIDELINES
• All reports should be typed using 12p text, 1.5 line spacing and Arial/Times. • All reports should be spell checked. • All sources must be referenced using the Harvard Referencing System. • All full reference list of all sources must be included at the end of the report.
Please save your file as 161_6EM705_CW01_LastName FirstName.doc
Submission Date: Friday of Week 17 (3rd June, 2016), not later than 15:00hrs. Only one electronic copy of your report should be submitted to Turn It In via Moodle. There is no provision for late submissions, unless otherwise approved by your Programme Leader. Please refer to the Programme Handbook for regulations pertaining to late submissions, resubmissions, and extenuating circumstances. COURSEWORK CW 2 (50%) The course work is a presentation where as part a group of 4-5 persons you are required to prepare a presentation (15 minutes). The purpose of this presentation will address and focus on the impact and evaluation of the external environment of an industry organization (hospitality & events sectors), and the influence this has on strategic choice of the relevant organization. The task is not about describing strategic theories, but a proper integration of theory and selected plans or processes that demonstrate confidence use of strategic techniques. The task is justified through academic literature and strategic human resource management. You will demonstrate critical and creative use of strategic theories to demonstrate how organizations within the hospitality and events industry are improved. Submission Date: The presentations will take place in (Week 14 - week starting May 9th, 2016)
Page 8
The following considerations or questions will be useful guides for conceptualizing and evaluating problem issues of your organization.
• Select a hospitality business company with the approval of module teacher. • What might be some of the common barriers to change and improvement
this organization may face? • How can this organization make necessary changes without exposing the
organization to unacceptable risks? • Why is it critical to propose strategic analysis and change to justify future
added value and competitive advantage for the organization?
* Selected a different hospitality business for this presentation than the one you will use for your report.
The following structure for the presentation guideline is recommended:
• Background of the chosen organization with a clear focus on vision and
mission goals. • Identification and justification of chosen strategy level for change and how realistic and achievable objectives of change are delivered. • Evaluate role of risk, uncertainty, and trade offs applied in strategic decision
making. • Identification of impacts of change processes and justify how these are
achieving the aim and objectives leading into diagnosing and managing change competitively.
• Application of appropriate theoretical strategies and intervention methods for implementing proposed changes.
• Critically evaluate the urgency for change to justify how selected intervention methods or models that foster realization of change.
• Conclusion: To critically evaluate and reflect how the outlined theoretical and practical change models have provided support towards your strategic change plans.
PLAGIARISM Individual assignments are what the title suggests – your own, individual pieces of work. Copying all or part of another person’s work is not permitted. If there is considerable likeness between assignments actions might be taken. Failure to fully reference all your sources could be construed by the marker/tutor as intentional and therefore as plagiarism. Plagiarism is a serious academic offence. It arises when a student is suspected of presenting work undertaken by other people as if it were their own.
Page 9
A student is liable to be found guilty of plagiarism if any work presented for individual assessment is found to contain the unacknowledged work of some other person or persons. If this involves deliberate misrepresentation of material as the student’s own in an attempt to deceive the examiners then the offence is very grave indeed. All sources should be cited and all quotations from the works of other authors clearly identified as such. If a student’s work is found to contain verbatim (or near verbatim) quotation from the work of other authors (including other students past or present) without clear acknowledgement, then plagiarism has been committed whether or not the student intended to deceive the examiners. This rule also applies to the fraudulent provision of work by anyone for use by a student as his/her own. Please do not leave anything to chance. SHMS has strict rules regarding plagiarism and has specialist electronic surveillance equipment to determine if the work is plagiarised.
ATTENDANCE
In line with the student participation contract, this contract will be considered as breached if the student has missed two sessions of the module without good cause, where one lecture or one tutorial or one lesson constitutes a session. In this case, the student receives a verbal warning. A third session missed incurs a final warning letter. In the event of a fourth session missed, the student will be de- registered from the module in question. Registers will be taken for every session.
Page 10
THE UNDERGRADUATE GRADING SCALE
% mark
Mark Descriptors Class
70- 100%
Excellent Outstanding; high to very high standard; a high level of critical analysis and evaluation, incisive original thinking; commendable originality; exceptionally well researched; high quality presentation; exceptional clarity of ideas; excellent coherence and logic. Trivial or very minor errors.
First
60- 69%
Very good A very good standard; a very good level of critical analysis and evaluation; significant originality; well researched; a very good standard of presentation; pleasing clarity of ideas; thoughtful and effective presentation; very good sense of coherence and logic; Minor errors only.
Secon d Div
1
50- 59%
Good A good standard; a fairly good level of critical analysis and evaluation; some evidence of original thinking or originality; quite well researched; a good standard of presentation; ideas generally clear and coherent, some evidence of misunderstandings; some deficiencies in presentation.
Secon d Div
2
40- 49%
Satisfactory A sound standard of work; a fair level of critical analysis and evaluation; little evidence of original thinking or originality; adequately researched; a sound standard of presentation; ideas fairly clear and coherent, some significant misunderstandings and errors; some weakness in style or presentation but satisfactory overall.
Third
35- 39%
Unsatisfactory Overall marginally unsatisfactory; some sound aspects but some of the following weaknesses are evident; inadequate critical analysis and evaluation; little evidence of originality; not well researched; standard of presentation unacceptable; ideas unclear and incoherent; some significant errors and misunderstandings. Marginal fail.
Fail 5-34%
Very poor Well below the pass standard; a poor critical analysis and evaluation; no evidence of originality; poorly researched; standard of presentation totally unacceptable; ideas confused and incoherent, some serious misunderstandings and errors. A clear fail well short of the pass standard.
0-4% Nothing of merit Nothing, or hardly anything, of merit submitted. When no work has been submitted the NS notation will apply
Page 11
INDICATIVE LEARNING RESOURCES The list below is by no means exhaustive and you will be expected to use journals both in the Learning Centre and electronically. There is also a wealth of information available on the Internet, but please use this wisely and selectively. Remember that this area of research covers many different subject areas so look beyond tourism, hospitality and events literature and try to assess the applicability of the wider literature. Link to ASPIRE reading list Johnson, Scholes & Whittington, (2008), Exploring Corporate Strategy (8th Ed), FT Prentice Hall Johnson, Scholes, Whittington, Angwin, Regner (2008), Exploring Strategy (10th Ed), Pearson ASTD Research, (Aug 2014) Change Agents: The Role of Organizational Learning in Change Management, Product Code 191407 John Kotter and Holger Rathgeber, Sep 2006, Our Iceberg Is Melting: Changing and Succeeding under Any Conditions Major strategy consulting firms have enormous amount of information on the subject. www.mckinsey.com, www.bcg.com, www.bain.com Finance books D’Angelo, J.M. (2006) Spa business strategies : a plan for success. Clifton Park, NY. Thomason Delmar Learning Davies, D.B. (2005) Managing financial information. (2nd ed) London. Chartered Institute of Personnel and Development Knott, G. (2004) Financial management .(4th ed) Basingstoke. Palgrave Macmillan Sutherland, J. and Canwell, D. (2004) Key concepts in accounting and finance Basingstoke. Palgrave MacMillan Turban, E. [et al.] (2006) Electronic commerce 2006: a managerial perspective Upper Saddle River, N.J. Prentice Hall
Page 12
Finance journals British Journal of Management Journal of Management Studies Management Today Marketing books Fletcher, R. (2004) International e-business marketing. Australia. Thomson Jobber, D. (2007) Principles and practice of marketing (5th ed) Maidenhead. McGraw Hill Publishing Company. Kirby, J. and Marsden P. (2006) Connected marketing Oxford : Butterworth- Heinemann Mudie, P. and Pirrie, A. (2006) Services marketing management (3rd ed) Oxford. Butterworth-Heinemann Palmer, A. (2007) Principles of services marketing (5th ed) London. McGraw-Hill Higher Education Smith, I (2003) Meeting customer needs (3rd ed) Oxford. Butterworth-Heinemann Smith, P. (2005) emarketing excellence : the heart of ebusiness (2nd ed). Elsevier Butterworth-Heinemann Zeithaml, V A and Bitner, M J, (2006) Services marketing (4th ed) London. McGraw-Hill Higher Education Marketing journals International Journal of Advertising International Journal of Hospitality Management Journal of Integrated Marketing Communications Journal of Marketing Journal of Marketing Management Journal of Services Marketing Journal of Travel & Tourism Marketing Journal of Vacation marketing Human resource books Beardwell, I., Holden, L. & Claydon, T. (2004) Human Resource Management, a contemporary approach. (4th ed) Harlow. Prentice Hall. Boella, M. J. (2005) Human resource management in the hospitality industry: an introductory guide. (8th ed) Oxford.
Page 13
Bratton, J. & Gold, J. (2007) Human resource management theory & practice. (4th ed) Basingstoke. Macmillan Business. Butterworth-Heinemann. (also available as an e-book) Dick, P. & Ellis, S. (2006) Introduction to organizational behaviour. (3rd ed) Maidenhead. McGraw-Hill. Huczynski, A & Buchanan, D (2004) Organisational behaviour: an introductory text. (5th ed) Harlow. Pearson Education. Lashley, C. & Lee-Ross, D. (2003) Organization behaviour for leisure services. Oxford. Butterworth-Heinemann. Nickson, D. (2006) Human resource management for the hospitality and tourism industries. Oxford. Butterworth-Heinemann. (also available as an e-book) Rayner, C. & Adam-Smith, D. (eds) (2009) Managing and leading people. (2nd ed) London. Chartered Institute of Personnel and Development. Van der Wagen, L. (2006) Human resource management for events: managing the event workforce. Oxford. Butterworth-Heinemann. (also available as an e- book) Some of these journals are dedicated to one of the fields (Human Resource Management; Harvard Business Review; People Management; Event Management and the International Journal of Hospitality Management; and International Journal of Culture, Tourism and Hospitality Research)
