Module Summary and Description

Provide a context for current strategic and social issues raised by technology change

Business strategy addresses the choices firms make as they set their mission and goals, make decisions in relation to positioning and which markets to enter, and develop their business models. They do this in the context of the external environment, addressing changes in technology, government intervention, competitor actions, customers and markets.

• Enable students to develop an understanding of business purpose, strategy and strategy development and to understand how this applies in global organisational contexts for both small and large businesses. • Develop the knowledge and skills to analyse the current and future business environment through the recognition of changes and trends, and the construction of scenarios
• Introduce the importance of resources and capabilities and develop students’ abilities to critically evaluate their importance as sources of sustainable competitive advantage but also as potential sources of disadvantage when disruptive innovation occurs
• Develop critical awareness of the importance of stakeholders including governments, societies, suppliers and employees, and the need for corporate uncertainty through participation in a business simulation. During the twelve timetabled 3-hour sessions there will be a mix of: • Lectures
• Case Studies
• Pair, Group and Class Discussion
• Group work, particularly in relation to the simulation
• Student presentations to the class

A key element of the module is participation in the business simulation in which students will compete against each other in terms within in a simulated global marketplace for mobile phones. The simulation, Cesim Global Challenge, is  complex, in that you will be managing a global company making a range of marketing, operations, R&D, HR, supply chain and financial management decisions.

We will form company teams in the first week of the course and complete two practice rounds in week 4 of the course. Please bring a laptop or tablet that you can use to access the simulation. A smartphone screen is not sufficient for this purpose.

On successful completion of the module, students will be able to:

1. Analyse the environment of a firm, both internal and external, current and future, to identify sources of competitive advantage and disadvantage and opportunities and threats
2. Critically evaluate strategic direction and strategic options in complex current and future business environments to inform executive decisions
3. Critically evaluate strategic information, insights and recommendations
4. Communicate strategic analysis and recommendations clearly, concisely and effectively
5. Appraise the strategic decision-making process

Building a clear mental model of a firm and its industry is time consuming and requires wide reading and research. The module aims to give you the models, tools and skills to make sense of a business and its external and internal environment and use your analysis to make strategic recommendations. To provide a range of firm and industry perspectives we make use of case studies, along with the simulation. Competing in the simulation addresses all the Learning Outcomes above.

Over the course of 5 weeks you will analyse a selected company and each week some students will present their findings in class. This will give you an opportunity to build understanding of a firm and its industry (LO1-3) and also practice yourcommunication skills (LO4).

The module topics in order are: • Introduction to Strategy– we begin to look at strategy in terms of its meaning, place in firms and how it is developed and evolved. How important are the vision mission and values of the firm and does a firm execute its strategy?

• CESIM Simulation – introduction to the simulation game and Assignment 1
• Internal Analysis – here we will consider how the inner workings of a firm are linked to strategy, both as an enabler and a constraint. • External Analysis – we then consider how to make sense of the external environment now and in the future

Introduction to Strategy– we begin to look at strategy in terms of its meaning, place in firms and how it is developed and evolved. How important are the vision mission and values of the firm and does a firm execute its strategy?

CESIM Simulation – introduction to the simulation game and Assignment 1

Internal Analysis – here we will consider how the inner workings of a firm are linked to strategy, both as an enabler and a constraint. • External Analysis – we then consider how to make sense of the external environment now and in the future

Business & Corporate Strategies – now we consider how a business working in a single industry acts strategically in order to be successful. Many firms operate in a number of industries. For example, Shimano makes bicycle components, fishing gear and also other sporting equipment, and Apple is in the PC, Tablet, Smartphone, music and now the TV industries. We explore how firms compete in different industries within a single business organisation and the pros and cons of this for shareholders. • Systems Tools – we consider how firms can anticipate future developments in order to strategize now. This part deals with company schematics, scenario planning and strategy tables. • Global Strategies – we look at growth strategies in a global context and how a firm might address markets in different contexts successfully. We explore modes of entry and approaches to geographic expansion. We also consider collaborative strategies based on M&As and strategic alliances.

Technology-based Strategies – technology-based industries have a number of characteristics that make them both interesting and different when considering their strategy. Here we examine some of the main features of such industries and the way firms act to be successful

• Culture & Governance – a soft approach to Strategy, this session highlights ethical ways to strategize (CSR) as well as governance issues and ways to differentiate based on culture
• Strategic Options – change is a constant. We look at how firms stay relevant and how they adjust themselves and develop strategic choices over time
• Non-Profit Strategies – in the final session of the module, we will reflect on the previous 11 works by focusing on strategies for non-profit entities. We will also reflect on the business simulation and discuss the final assessment.

You are required to attend all teaching sessions of this module. If your attendance is unsatisfactory, the module leader will arrange that you are withdrawn the module. Before doing this, the hub will email you to inform you of this. If there is a specific reason why you cannot attend a particular session, you must contact the module leader in advance of the lecture. If the reason is accepted, it will be noted on the register as an authorised absence. You will only be granted authorised absence for three sessions; if the absence is longer you must discuss this further with your Course leader.

Academic integrity requires honesty in your studies. You should not present another person’s sentences or ideas as your own work. You should clearly identify quotations through the use of quotation marks and references to the sources. Failure to adhere to these academic standards may lead to allegations of academic misconduct, which will be investigated by the Casework Office.

• Plagiarism: copying another person’s ideas or words and presenting them as your own work, without the use of quotation marks and/or references
• Self-plagiarism: reproducing parts of one of your assignments in another piece of work
• Inventing, altering or falsifying the results of experiments or research
• Commissioning another person to complete an assessment
• Collaborating with others in the production of a piece of assessed work which is presented as entirely your own work
• Cheating in an exam (e.g., by taking revision notes into the exam room)