This subject provides an introduction to the main theories and frameworks used for understanding the strategic management process of organisations. The strategic management process is defined as the full set of commitments, decisions, and actions required for a firm to achieve competitive advantage. In order to successfully engage in these activities, managers must be able to effectively analyse the external environment in which the firm competes and identify key resources and capabilities that can be leveraged to create a competitive advantage. Further, it is critical to understand fundamental business-level strategies for deploying those resources, the role of corporate-level strategies in setting the activities and boundaries of the firm and strategies for competing internationally as well as the challenges associated with implementing such strategies. Today, as expectations regarding the role of business in society continue to shift, it is also crucial that managers be aware of salient objectives that extend beyond increasingly dated notions of maximising shareholder value. This subject introduces students to these and other, related, strategy activities and provides them with the tools necessary to analyse the relevant elements of the business environment and develop effective management strategies.
|Academic unit:||Bond Business School|
|Subject title:||Strategic Management|
Delivery & attendance
|Attendance and learning activities:||Participation in all online sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible.|
|Prescribed resources:|| |
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.|
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
|Restrictions: ?|| This subject is not available to|
Must be admitted into a BBT/MBA Program
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Demonstrate an understanding of the fundamental issues and challenges associated with developing an effective management strategy.
- Demonstrate an understanding of the major strategic management theories and concepts concerning the processes of management strategy relevant to addressing those issues
- Demonstrate skills in applying frameworks and concepts to a range of business problems such that they are able to diagnose underlying causes and develop analysis-based strategic recommendations
|Discussion||iLearn discussion board and webinar participation||30%||Progressive||1, 2, 3.|
|Case Analysis||case reports x 2||30%||In Consultation||1, 2, 3.|
|Written Report||Final Report||40%||In Consultation||1, 2, 3.|
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
|High Distinction||85-100||Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.|
|Distinction||75-84||Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.|
|Credit||65-74||Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.|
|Pass||50-64||Usually awarded to students whose performance meets the requirements set for work provided for assessment.|
|Fail||0-49||Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.|
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Students must check the [email protected] subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Additional subject information
As part of the requirements for Business School quality accreditation, the Bond Business School employs an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Explain what strategy is and why it is a critical managerial task for any business. Discuss central elements of strategy development and execution previewing the content covered over the semester
The environment outside the firm plays a critical role in shaping the effectiveness of current and future strategy. Introduce tools for understanding the external market (Five Forces) and non-market (PEST) environments.
Introduce the role of firm resources and capabilities in supporting firm competitive advantage. Detailed exploration of what resources and capabilities are and why they are important.
Discuss generic strategies of cost leadership and differentiation, going over detailed examples of elements of each. Introduce challenges to maintaining competitive advantage over time.
Exploration of the influence of time and competitive dynamics on firm strategy. Discuss industry life-cycles, technology and how the importance of different capabilities changes over time.
Discuss role of organizational structure on implementing strategy. Highlight two archetypical types of structure (Functional and Divisional) and explore how different structures more or less appropriate to different combinations of strategy and competitive conditions.
Explain vertical integration and introduce transaction costs economics lens for identifying which activities should be conducted inside versus outside the firm. Discuss alternatives to full integration.
Explain horizontal integration and discuss advantages and disadvantages of related and unrelated diversification. Discuss the role of synergies to corporate diversification discuss challenges of managing integrated businesses.
Introduce strategic challenges emerging when conducting business that crosses political boundaries. Discuss motivations and challenges of international business and introduce OLI framework for understanding when it is more or less appropriate to conduct business activities in foreign countries.
Discuss some limitations and potentially negative business consequences of strictly emphasizing the logic of shareholder value maximization. Explain the importance of recognizing and supporting contributions from multiple stakeholders to ensure the continuing success of the business. Introduce the stakeholder perspective for understanding how to identify and effectively consider the interests of multiple stakeholders.