Strategy and Management

Course goals

Learning objectives
This course has two main learning objectives, supported by numerous supplementary ones:

• To design a corporate strategy to compete in a dynamic competitive environment
• To diagnose the reasons for good or bad performance and formulate strategies that lead to value creation and recommend organisation designs to implement the strategies

Supplementary learning objectives are:

• To develop a thorough understanding of the principal theoretical frameworks and concepts linked to strategy formulation (both at the business- and corporate-levels) and strategy implementation
• To describe how organisations can create a competitive advantage
• To discuss the differences between static and dynamic strategic management theories
• To develop appreciation of the multidimensional challenges that globalisation and changes in technologies (Internet and digital technologies) pose for strategy formulation and implementation and how firms can successfully address these challenges.
• To critically analyse academic papers and interpret their contributions for the topics covered in the course. As this course aims to provide students with the knowledge and skills they require to theoretically understand and apply them to real life cases, it is essential that preparation, attendance, and in-class contributions are prioritised
• To practice presentation (reflect what went wrong, elaborate on the mistakes) and team working skills)
• To translate strategy into action
• To match the theoretical aspects with the strategy practice by assessing pre-read cases that will be discussed at the tutorials

Content

Strategic management is a field of study concerned with developing understanding of why some firms are more successful than others. To be successful, the firm’s strategy must permeate all departments and functional areas. As such, this course integrates knowledge and skills gained from your prior studies (e.g., marketing, management, finance, accounting...). To advance students’ comprehension of how a company could potentially outperform its rivals, the present course focuses on the key theoretical ideas and concepts of strategic management and how to apply them in practice. In the course, focus is on business-level as well as corporate-level and global-level strategy. Rather than viewing the firm as simply operating in a single business in a single geographic region, we analyse the strategic options available to multi-divisional, multi-national firms. In drawing on these tools, we adopt a general management point of view –we will analyse strategies in light of the total enterprise.
 
Moreover, because of the limitations of applying static analysis in the real world, the course underlines the dynamic nature of effective strategy formulation and implementation. This shifts the emphasis from generic strategies of cost leadership and differentiation based on industry analysis (i.e., Porterian approaches) to strategies that managers should develop for resource and knowledge building, entrepreneurship, leadership, innovation, and learning.
 
The course will feature assessment of the external environment, on firm-specific unique resources and competences, on the contribution of Blue Ocean Strategy and on a game-theoretical approach to strategy. The case studies will enable you to apply your accumulated knowledge to address real-world business problems. Pedagogically, this discussion-based course draws heavily on case analyses, simulation, and experiential exercises to develop a deeper understanding of strategic management. It is recognised that a firm does not only have tangible assets such as capital and technology, but also non-tangible assets such social and emotional capital. Students are prepared for a strategy career by discussing how both types of resources could be harnessed for competitive advantage. Because a strategy can only produce results if properly implemented, the course familiarises students with issues of control and corporate-governance. A good understanding of these is essential to effectively align the interests of owners, managers and employees. 
 
Academic skills
This course focuses the following skills:

Communication skills

• Being able to present any subject without specific instruction in a convincing manner to a broad audience.

Academic reasoning
For independent large economic and multidisciplinary problems/questions:

• Asking critical questions, having a curiosity-driven and critical attitude.
• Analysing questions from different perspectives.

Format
This course involves lectures and tutorials. The course consists of 8 weekly sessions and the final exam in week 9. Each week’s session includes 1 lecture and 1 tutorial. The weekly meetings consist of up to 2 X 45-minute lectures and 2 X 45-minute tutorials, which are both of a highly interactive character. Plenary lectures are meant to guide students through the literature, with additional tutorials to get a better grip on the theory and practice of strategic management, i.e. using academic articles and case studies.

Effort requirements
80% attendance in tutorials, with pre-reading of that week’s case study (essential to be able to participate in the discussion).

In case online access is required for this course and you are not in the position to buy the access code, you are advised to contact the course coordinator for an alternative solution. Please note that access codes are not re-usable meaning that codes from second hand books do not work, as well as access codes from books with a different ISBN. Separate or spare codes are usually not available.