Exploring Business Strategy

profileWEN.XU
lecture_1_module_introduction.ppt
Home>Business & Finance homework help>Management homework help>Exploring Business Strategy


Exploring Business Strategy

(247SAM)

Lecture 1: Module Introduction

*

MODULE TEAM

Dr Dongmei Cao (Module Leader)

Office: WM120

Office hour: Mon 11:00-12:00, Tue 14:00-16:00

Email: [email protected]

Dr Da Teng (Seminar tutor)

Office: WMG23

Email: [email protected]

Mr Ali Ehsan (Seminar tutor)

Office: WM115

Email: [email protected]

Module Assessment

100% Coursework, 2 components of coursework:

CW1 – Phase Test (50% weighting):

Contains section A 25 multiple choice questions and section B 1 essay question; Both sections are worth 50% of the marks allocated

Monday, 27th Feb 2017.

CW2 – 2,000 words Essay (50% weighting)

Submission through Turnitin on or by Friday, 5th May 2017.

CORE TEXT

  • Johnson, G., Whittington, R., and Scholes, K. (2014). Fundamentals of Strategy. 3rd ed. Pearson.

(online access via Locate)

  • Additional reading for the module see Module Guide and Resources on Moodle

*

Module framework and the Exploring Strategy Model

Indicative topics and contents
Week (Commencing) Lecture (Topic) Seminar (Case study: Activity-Peers-Feedback-Reflection)
23.01.17 Module introduction Definitions & Characteristics of Strategy Introduction: Grouping and cases (preparing for case studies and presentations); Case1*: Glastonbury (Introducing strategy)
30.01.17 The Environment (Environmental Analysis) Case2**: Global forces and the advertising industry (PESTEL and Five Forces model)
06.02.17 The Environment (Competitive Analysis) Activity learning: 1) Group1 presentation 2) Tutor feedback on presentation and group work 3) Peer feedback and self-reflection
13.02.17 Strategic Capability (Resource-based Analysis) Case3*: Dyson (VRIN framework) Understanding CW1
20.02.17 Strategic Purpose Ethics Culture and Strategy Case4*: Club Med Activity learning: 1) Group2 presentation 2) Tutor feedback and peer feedback and self-reflection
27.02.17 Phase Test Understanding CW2
06.03.17 Business Strategy Case5**: IKEA approach
13.03.17 Corporate Strategy Case 6*: Virgin the global entrepreneur Activity learning: 1) Group3 presentation 2) Tutor feedback and peer feedback and self-reflection
20.03.17 International Strategy Case 7**: Wanda’s acquisition Feedback on CW1
27.03.17 Strategy in Action Case 8**: Google strategy development Activity learning: 1) Group4 presentation 2) Tutor feedback and peer feedback and self-reflection
03.04.17 Revision on CW Drop in session Q&A on CW2

Ground rules & expectations of you

  • How can you get most out of this module? (2mins thinking)
  • Engagement and contribution in class
  • Valuing critics and in-depth thinking
  • Attendance of all lectures and seminars
  • Visiting module Moodle website
  • Communication with colleagues and tutors:

When: whenever you have queries or need clarification

How: emails, face-to-face chat, booking appointments

*

Break time

  • Any questions?

e.g. access to the moodle webpage

What is strategy?

  • Your thoughts on the concept of strategy (5mins)

Defining strategy

Strategy is defined as “the long-term direction of an organisation” (Johnson et al. 2014:p3).

  • The long term

Three horizons for strategy

  • Strategic direction:

long-term objectives, e.g. profit, non-profit

  • Organisation

configuration of resources and competences; stakeholder expectations.

Return

Strategic statements

  • Strategic statements are summary of an organisation’s strategy
  • Strategic statements should have three main themes (Collis and Rukstad 2008):

Fundamental goals (mission, vision or objectives)

Activity scope or domain

Particular advantages or capabilities

https://cumoodle.coventry.ac.uk/
Module links/Resource
Exploring Strategy, P.8

Mission What business are we in
Vision What do we want to achieve?
Objectives What are we going to do in the coming period? quantifiable
Scope Who we are and where we are? consumers, location, activities integration
Advantage Advantages over competitors

Levels of Strategy

2813.bin

Corporate Strategy

  • Organisational Issues:

overall scope of an organisation

management of SBUs

role of the centre

control and co-ordination

Business Strategy

  • Individual business:

Adding value

Competitive strategy

Strategy implementation
(Complementary)

  • Delivering effectively the corporate- and business-level strategies in terms of resources, processes and people
  • Strategy requires careful and sensitive management, or strategic management

Strategic Management

Strategic management includes understanding the strategic position of an organisation, making strategic choices for the future, and managing strategy in action.

*

What is “Strategic Management”?

It includes understanding the strategic position of an organisation (ANALYSIS):

External environment (focus of Week 2)

Expectations/influence of stakeholders and purpose

Internal resources & competences

2. It includes making strategic choices for the future (CHOICE):

Corporate-level strategies (e.g. Scope, managing relationships, adding value/parenting)

Business-level strategies (e.g. Competitive advantage)

Developing strategy in terms of both direction and method (Suitability, Feasibility, Acceptability)

What is “Strategic Management”?

3. It includes turning strategy into action (IMPLEMENTATION)

Making sure strategy works effectively by:

Organising (e.g. Structure)

Enabling (e.g. Resources)

Managing Change

What is “Strategic Management”?

Essential reading (before next week):

Chapters 2.1-2.2 (ps. 32 – 40)

Recommended text:

“Writers on Strategy & Strategic Management”

Moore, J.I. (2001, 2nd Edition) Penguin

“Corporate Strategy”

Lynch R. (2012, 6th Edition) Chapter 1-2 Prentice Hall

Single Business Unit 1

Single Business Unit 2

Single Business Unit 3

Corporation