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Strategic Management

Strategic Management

  • Class 40
  • Practice 0
  • Independent work 110
Total 150

Course title

Strategic Management

Lecture type

Obligatory

ECTS

5

Lecturers and Associates

The course aims

Introduce students to relevant aspects of contemporary strategic management theory as well as design, analysis and implementation of company’s business strategies through selected literature, discussions and case studies. Review basic guidelines and objectives of the organization, its environment (social, political, technological, economic and global factors), industry and market structure and organizational strengths and weaknesses.

Content

(L1 – L15 = 20 x 2 hours = 40 hours of lectures) (S1 – S15 = 10 x 2 hours = 20 hours of seminars) Lecture topics: L1: Strategy and strategic management. L2: Strategic management process. Strategic thinking. L3: Environment analysis. L4: Methods and techniques of environment analysis 1/2. L5: Methods and techniques of environment analysis 2/2. L6: Setting mission, vision and goals. L7: Formulation of strategy. L8: Implementation of strategy. L9: Strategic evaluation. L10: Concept of strategic control. L11: Types of control systems. L12: Strategic options. L13: Development strategies. L15: Continuity strategy. L16: Corporate strategies. L17: Strategic portfolio analysis. L18: Competitive advantage. L19: Competitive positioning. L20: Strategy in crisis situations. Topics for seminar classes: S1: Strategy as central category of strategic management. S2: Nature and organs of strategic management. S3: Strategic tensions. S4: Levels of strategy in enterprises. S5: Basics of environment analysis: definition of environment analysis, purpose and task of environment analysis. S6: Environment structure, conceptualization of environment. S7: General or social environment, business environment or task environment, industry environment, internal environment. S8: Analysis of macro-environment: PEST analysis. SWOT/TOWS analysis. S9: Industry analysis: Model 5C. Porter’s 5 forces. S10: Strategic vision. Vision shaping. Vision statement. S11: Enterprise mission. Mission content. Mission statement formation. S12: Strategic goals of enterprises. Influence of interest groups on creating goals. Areas and features of long-term goals. Conflicts between goals. S13: Company policy. S14: Access to strategy formulation. Strategy formulation – strategic analysis inputs. S15: Strategic analysis. S16: Alternative strategies. Corporate strategies. Continuity strategy. S17: Change strategy. S18: McKinsey 7S model. Strategic initiatives matrix. S19: Strategic innovation. Strategic change and organizational learning. S20: Strategy in crisis conditions. Strategic restructuring. Strategic renewal process.

Literature

G. Fisher, J. Wisneski and R. Bakker (2018). Strategy in 3D: Essential Tools to Diagnose, Decide, and Deliver

Supplementary literature

Thompson, A. A. Jr. i Strickland III, A. J. (2002): Strategic Management: Concepts and Cases, 13th Edition, McGraw-Hill/Irwin
Wheelen, Th. L.; J. Hunger, D. i Hoffman, A. N. (2014): Strategic Management and Business Policy: Globalization, Innovation and Sustainablility, 14th Edition, Prentice Hall. Selected articles from Harvard Business Review i McKinsey Quarterly.


Minimum learning outcomes

  • Determine strategy concept and explain key terms and concepts of strategic management.
  • Discuss the process of development and implementation of business strategies in order to achieve sustainable competitive advantage.
  • Determine mission, vision and strategic objectives of an enterprise.
  • Evaluate processes and levels of strategy within an enterprise.
  • Evaluate the capability of identifying and understanding key competences and strengths of enterprises.

Preferred learning outcomes

  • Critically evaluate the impact of strategy on competitiveness and sustainability of enterprises based on analysis.
  • Critically evaluate external and internal environment of the organization as the basis for strategic decision-making.
  • Critically evaluate vision and mission of an enterprise and review its strategic objectives.
  • Identify key issues and challenges related to the implementation of strategies and offer solutions to overcome them.
  • Recommend business strategy based on market feedback and operational performance.