MN6008 - Business Strategy (2023/24)
|Module specification||Module approved to run in 2023/24|
|Module title||Business Strategy|
|Module level||Honours (06)|
|Credit rating for module||30|
|School||Guildhall School of Business and Law|
|Total study hours||300|
|Running in 2023/24(Please note that module timeslots are subject to change)||No instances running in the year|
This module considers the strategic options, issues and challenges facing the business leaders of public, private and third sector organisations. It will focus on strategy formulation, planning, implementation and an evaluation of business impact in terms of strategic alignment. The module will present and evaluate a variety of analytical models, techniques and concepts, considering their utility and application to a range of contexts.
The aims of this module are to encourage students to:
• Critically analyse the concept of strategy formulation and the strategic planning process.
• Critically evaluate the interrelationship between strategic analysis, strategic choice, strategy implementation and the alignment of strategic plans.
• Demonstrate analytical thinking and business communication skills.
• Strategic Management Concepts and Strategy Development
• Vision, Mission, Goals and Objectives
• The Strategy Formulation Process (Analysis, Choice, Implementation, Alignment)
• Core Competences
• Models for Organisational Analysis and Environmental Audit
• Strategic Choice Models and Generating Strategic Options
• Strategic Planning
• Strategic Implementation and Strategy Evaluation
• Strategic Alignment Models and Frameworks
• Performance Metrics including Critical Success Factors (CSFs), Key Performance Indicators (KPIs) and the Balanced Scorecard
• Strategic Alliances and Partnerships
Learning and teaching
The module will be delivered through weekly teaching sessions in the form of 12 lectures, two revision and feedback classes, 10 group tutorials, two workshops from industry experts and two field trips.
The lectures will aim to focus on the theoretical knowledge and understanding whereas group tutorials will focus on the application and analysis of these using a variety of means including case studies, problem solving, strategy discussions and debates. Articles from various magazines and journals will be used in addition to directed reading from text books and online materials/webinars of relevance.
Industry experts with relevant experience will be invited as guest speakers during the two workshops (of a total duration of 6 hours) with a focus on career skills, employability issues and strategy development in a given enterprise or industry. Field trips will be to organisational or industrial premises to understand the context to the business strategy that may be developed.
On completion of this module, students will be able to:
1. Determine and apply the range of appropriate theories, models and conceptual frameworks that can be used to formulate a business strategy.
2. Interpret and critically assess the internal and external factors affecting an organisation, and apply this knowledge to evaluating the organisation’s competitive and strategic position.
3. Generate and evaluate strategic options to account for a range of possible contexts.
4. Determine the most appropriate way to implement a chosen strategy.
5. Critically evaluate current and future strategies with regard to their likely effectiveness.
The students will be assessed based on two assessments:
Assignment 1 (50%) - Students will undertake an Individual case study on an agreed organisation and present their findings individually in the form of a written report (2,500 words maximum).
Assignment 2 (50%) – Students will be required to take a 2.5 hour open book examination based on a case scenario (not the questions) that will be issued to students in advance. Students will be allowed to research and prepare for the examination, and bring in no more than 4 sides of A4 notes to the examination.
Core Text Books
• Johnson, G., Whittington, R., Scholes, K., Angwin, D., Regner, P., (2013) Exploring Strategy: Text and Cases. 10th Edition, Pearson Education
Recommended Text Books
• De Wit, B. and Meyer, R., (2010), Strategy Process, Content, Context: An International Perspective. 4th edition, EMEA: Cengage Learning
• Ghemawat, P., (2009) Strategy and the Business Landscape, 3rd edition, London: Prentice Hall
• Grant, R.M., (2009) Contemporary Strategy Analysis. 7th edition, UK: John Wiley & Sons
• Thompson, J., and Martin, F., (2010) Strategic Management: Awareness and Change. 6th edition, South-Western: Cengage Learning
Journals and Other Learning Resources
Strategic Management Journal
International Journal of Business and Economics
Journal of Business Strategy
Strategy and Leadership