Bachelor 2020/2021

Strategic Management

Type: Compulsory course (Logistics and Supply Chain Management)

Area of studies: Management

Delivered by: Department of Management

Where: St.Petersburg School of Economics and Management

When: 3 year, 4 module

Mode of studies: distance learning

Instructors: Elena Serova

Language: English

ECTS credits: 3

Contact hours: 30

Course Syllabus

Abstract

This course is concerned with strategic management and strategic planning. To be effective, managers must clear understand the factors responsible for their company’s past performance and be able to identify the changes (inside or outside the company) that can help or hurt future performance. Competitive advantage is generally derived from two sources: a) the internal capabilities and resources and b) the positioning of the company in the external business environment. This course introduces a variety of modern strategy frameworks and methodologies in order to help students acquire different skills and habits needed to be successful managers. The main goal of this course is studying the fundamental concepts in strategic management. The course also supports the student’s learning of the following:  Analysis of firms’ ability to create sustainable competitive advantages in turbulent business environment;  Application of resource-base and dynamic capabilities thinking to produce value;  Creation of international business strategies and evaluation of it under different scenarios. The course explores strategic management from two perspectives – theoretical and practical. At the theoretical level, students will examine the strategic discourse – a rich conversation of competing ideas, debate, and case-studies. At the practical level, students will be organized into group project teams. The major academic purpose of the group project is to challenge students to apply theories, concepts, and tools from the classes. The group project reports should contain a comprehensive analysis (inside and/or outside the company), including a detailed analysis of relevant competitors, and conclude with strategic recommendations for top management. Group reports will be done in the form of consulting project.

Learning Objectives

• The main goal of this course is studying the fundamental concepts in strategic management. The course also supports the student’s learning of the following:  Analysis of firms’ ability to create sustainable competitive advantages in turbulent business environment;  Application of resource-base and dynamic capabilities thinking to produce value;  Creation of international business strategies and evaluation of it under different scenarios.

Expected Learning Outcomes

• Can work with information; to find, evaluate and use information, from various sources, that is necessary to solve scientific and professional assignments. Be able to acquire new knowledge and abilities, including in different management areas
• Be able to conduct professional, including scientific research activities based on analysis and syntheses in the field of strategic management Have knowledge and professional skills in the sphere of evaluating the demands for relevant resources and plan their use in solving tasks related to the strategic management
• Be able to identify the scientific essence of problems in strategy analysis and management Be able ability to evaluate the impact of the macroeconomic environment on the functioning of organizations and on municipal management Can conduct an analysis of the competitive environment
• Can analyze and synthesize the student’s cumulative experience (their own and others’) in relation to professional and social activity. Participate in team based project work and class discussions. Be able to build effective methods of communication based on the objectives and situation of the communication. Be able to conduct professional, including scientific research activities in the international environment in the field of strategic management
• Be able to find and evaluate new market opportunities for company, generate and evaluate business ideas, develop business plans for the creation of new business. Can conduct an analysis of the competitive environment
• Have knowledge and professional skills in the sphere of evaluating the demands for relevant resources and plan their use in solving tasks related to the strategic management. Be able to conduct professional, including scientific research activities in the international environment in the field of strategic management Be able ability to evaluate the impact of the macroeconomic environment on the functioning of organizations and on municipal management
• Be able to acquire new knowledge and abilities, including in different management areas. Can work with information; to find, evaluate and use information, from various sources, that is necessary to solve scientific and professional assignments. Be able to conduct professional, including scientific research activities in the international environment in the field of strategic management
• Be able to develop and implement of corporate, business, and functional strategies in the organization

Course Contents

• The Basis of Strategy and Strategic Management. What is strategy and who is involved? System of Basic Concepts.
  • Strategy basic definitions, the main concepts, role, and brief history. • The nature and key terms of Strategic Management. • The basic framework: strategy as a link between the firm and its environment. • Competitive advantage. • System of Basic Concepts. • Concepts of Innovative Strategies. • Strategy analysis process: the main stages. • The strategy analysis process and strategic management. • Introducing Culture and Values
• Strategy and Environmental Analysis (Evaluation a firm’s external environment and internal capabilities)
  • Analysis of external and internal environment. • Industry analysis fundamentals. Using industry analysis to develop strategy. • The analysis of competition and industry. • Resources and capabilities in strategy formulation. • Organization structure, management systems and strategy implementation. • Strategic Change Management
• Strategy Analysis. Creating and formulating strategy: alternatives, evaluation and choice
  • Methodological principles of strategy analysis. • Strategy analysis methods classification. • Analytical methods used in strategic analysis. • Five Forces Framework. TOWS-analysis methods. A quantitative model of SWOT analysis PESTLE analysis. VRIO model. BCG matrix. McKinsey matrix. Red and Blue Ocean • The link between financial analysis and strategic analysis. Balanced Scorecard.
• Strategy Implementation. Strategy and strategizing: towards an activity–based view.
  • The main management and operations issues of strategy implementation. • Strategy as practice - a field of study. • How does strategy-as-practice differ from traditional strategy research? • Micro strategy and strategizing. A conceptual framework for analysing strategy as practice. • Strategic control and measuring success
• Business-level Strategies and Competitive Advantage. The dynamics of competition
  • What is Business Strategy? Cost Leadership strategies and sustained competitive advantage. • Differentiated products and services strategies. Focus strategies. • Knowledge management contribution and the knowledge-based view. • Strategic knowledge management. Intellectual capital and development strategy. • Strategy analysis as decision support. • Dynamic capabilities and competitive advantage. • Business models, business strategy, and competitive advantage. • Innovation management and sustaining competitive advantage. • Competitive advantage analysing in an international context.
• Corporate Strategies. Strategic planning
  • The basic corporate strategies. • Vertical integration. • Corporate diversification. • Global strategy and the multinational corporation. Strategic alliance. • Corporate Strategy in managing the multibusiness firm. • Corporate strategy and strategic planning systems.
• Strategic Management: essential trends
  • External environment tendencies. • New directions in strategic thinking. • Redesigning organizations. • The changing role of managers. Strategic leadership and intrapreneurship: Towards visionary leadership? • Business Ethic. Social responsibility. • Global/International issues. Strategic growth: domestic and/or international? • Final thoughts and reflections: The practice of strategy.
• Course conclusion
  Review of the course. The main key points addressed in the course.

Assessment Elements

• Individual assignment (exercises, case-studies, quizzes, panel discussion, and presentations)
• A team project including the production of a report and group presentation
• exam
  Exam is held as a written test based on all course issues and materials. Students have to show their knowledge or ability in a particular subject, or to obtain a qualification.

Interim Assessment

• Interim assessment (4 module)
  0.5 * A team project including the production of a report and group presentation + 0.25 * exam + 0.25 * Individual assignment (exercises, case-studies, quizzes, panel discussion, and presentations)

Bibliography

Recommended Core Bibliography

• Tovstiga, G. (2015). Strategy in Practice : A Practitioner’s Guide to Strategic Thinking (Vol. 3rd Edition). Hoboken: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1067051

Recommended Additional Bibliography

• Cavusgil, S. T., Knight, G. A., & Riesenberger, J. R. (2017). International Business: The New Realities, Global Edition (Vol. Global edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1419679
• Collis, D. J. (2014). International Strategy : Context, Concepts and Implications. West Sussex: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=817371
• Jennifer F. Wood. (2015). Dowling, P. J., Festing, M., Engle Sr., A. D., International Human Resource Management (6th Edition), Cengage Learning EMEA, 2013. Management International Review, (4), 589. https://doi.org/10.1007/s11575-014-0236-1
• McManners, P. J. (2014). Corporate Strategy in the Age of Responsibility. Farnham, Surrey, England: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=790697