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Principles and Concepts of Strategy

BM501

Course CodeBM501
ECTS

Course Description

The Principles and Concepts of Strategy module explores the fundamental elements that guide strategic decision-making in organisations. It covers the analysis of internal and external environments, competitive positioning, and strategic resources and capabilities. Key frameworks such as SWOT, PESTEL, and Porter's Five Forces are examined to understand how they influence strategic choices. This unit also delves into the development and implementation of business strategies, emphasising the importance of alignment with organisational goals and the dynamic nature of the strategic landscape.

Course Outline

WeekTopics
1What business strategy is: operational, tactical and corporate strategy
2Strategic framework: vision, mission, objectives, strategy, approach and tactics
3Strategy development processes: deliberate and emergent strategies
4Types of business strategy: growth, diversification, cost leadership and hybrid
5The strategic management process: planning, execution and monitoring, review and adjust
6Organisational theories: Taylor, Weber, Fayol and the Hawthorne Studies
7Organisational theories: McGregor, Fiedler, Hersey and Blanchard, and von Bertalanffy
8Midterm evaluation
9Techniques to measure the micro environment: internal environment, value chain and VRIO
10Applying micro environment techniques: Porter’s 5 Forces and sector/industry analysis
11Techniques to measure the macro environment: PESTLE, scenario analysis and SWOT
12Applying macro environment techniques to a business
13Strategic options: Ansoff matrix, Porter’s generic strategies and integration
14Internationalisation, mergers, acquisitions and joint ventures; recommending an option
15Review and coursework completion
16Final evaluation and project assessment

Learning Outcomes

  1. LO1 Understand the principles of business strategy.
  2. LO2 Understand key business strategy theories and concepts.
  3. LO3 Be able to measure a business’s micro and macro environment.
  4. LO4 Understand a business’s strategic options.
Learning Resources

Johnson, G. et al (2019) Exploring Strategy 12th edition, Pearson, Harlow Whittington, R. et al (2020) Fundamentals of Strategy 10th edition, Pearson, Harlow Business Strategy and the Environment Journal of Business Strategy Management Help

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