MGMT304 - Strategic Management

Year

Credit points

Campus offering

Prerequisites

MGMT213 Organisational Analysis OR HRMG204 Organisational Behaviour

Teaching organisation

Unit rationale, description and aim

Strategic Management is an advanced unit which draws on students’ previous knowledge of functional business areas, such as accounting, marketing, management, operations, HRM, as well as economics, in order to create new, higher level knowledge of organisational strategy and managing a company for achievement of long-term goals, competitive advantage and overall business success. The unit is designed to introduce students to the processes of strategic analysis, strategy development, implementation and evaluation. It will help learners understand the importance and the sources of competitive advantage, how to gain and retain a competitive edge in an increasingly dynamic and competitive world, while protecting the interests of all members of the society, in line with the principles of the Common Good. This knowledge is essential for future business executives and business leaders, as it helps realise the crucial importance of setting the vision, mission and goals of the organisation and putting in place the necessary strategies to attain these for the benefit of all stakeholders. The unit aims to explain why some competitors in the same industry, with resources comparable to other industry rivals can achieve much better results than others. The overarching aim of the unit is to build knowledge of how to manage organisations for long-term success while consistently creating value to all stakeholders in line with common good principles. 

Learning outcomes

To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.

Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.

Explore the graduate capabilities.

Content

Topics will include: 

·       the nature of strategy and strategic management

·       the role of effective communication skills in communicating corporate mission and vision

·       critical analysis and evaluation of the external environment

·       internal analysis using a variety of analytical frameworks

·       ethical implications of decisions

·       functional strategies

·       business strategies

·       corporate strategies

·       achieving competitive advantage while creating conditions for all stakeholders, including customers and society, to thrive

·       strategy implementation and the role of teamwork

·       strategy review and evaluation

·       strategic leadership, social responsibility, and ethical implications of local and international strategies; not-for-profit organisations

·       global strategies

·       the role of technology and innovation.  

Learning and teaching strategy and rationale

The learning and teaching strategy for this unit is based on using weekly workshop-style meetings during which the new topic will be introduced, and the students will be engaged in series of exercises, brainstorming sessions, problem solving activities and group analysis and discussions of short case studies. The teaching of the unit is supported by the extensive use of the University digital learning platform which allows students access to the teaching notes, exercises, activities as well as extra resources, even when they are not able to be present to the face-to-face workshops. The knowledge acquired by students in the unit during the semester will be assessed via written assignments and an exam as outlined below.

Assessment strategy and rationale

In order to pass this unit, students will be required to critically analyse key strategic management concepts and tools. They will be expected to employ critical evaluation skills to defend these concepts and tools, and to identify relevant works from the seminal and recent literature incorporating a range of perspectives. In the second assessment students will need to analyse a business situation of a real company and solve strategic management and business related problems, by considering common good principles when applying the concepts, principles and theories studied in this unit. Lastly, students will produce a business report focused on strategic management analysis of an organisation. This task entails group collaboration, where effective communication and teamwork skills are vital. Students will apply their acquired knowledge and skills from the unit to analyse a large company comprehensively. To pass the unit the students have to obtain at least an overall pass of 50%. Marking of the assignments will be in accordance with a rubric specifically developed to measure the level of achievement of the learning outcomes. Students will also be awarded a final grade that signifies their overall achievement in the unit. The assessment strategy allows students to sequentially develop their knowledge and skills in the unit.

Overview of assessments

Representative texts and references

Bhagwat, Y., Warren, N.L., Beck, J.T. and Watson IV, G.F., 2020. Corporate sociopolitical activism and firm value. Journal of marketing, 84(5), pp.1-21.

Buonomo, I., Benevene, P., Barbieri, B. and Cortini, M., 2020. Intangible assets and performance in nonprofit organizations: A systematic literature review. Frontiers in Psychology, 11, p.538613.

Ershadi, M.J. and Eskandari Dehdazzi, R., 2019. Investigating the role of strategic thinking in establishing organizational excellence model: A moderating role of organizational forgetting. The TQM Journal, 31(4), pp.620-640.

Grant, R., Butler, B., Orr, S. and Murray, P.A., 2014. Contemporary strategic management: An Australasian perspective. John Wiley & Sons.

Hill, C.W., Schilling, M.A. and Jones, G.R., 2020. Strategic management: an integrated approach: theory and cases. Cengage Learning.

McDonald, R. and Eisenhardt, K., 2020. The New-Market Conundrum In emerging industries the usual rules of strategy don't apply. Harvard Business Review, 98(3), pp.75-83.

Thompson, A., Janes, A., Peteraf, M., Sutton, C., Gamble, J. and Strickland, A., 2013. EBOOK: Crafting and executing strategy: The quest for competitive advantage: Concepts and cases. McGraw Hill.