Introduction & Contexts

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Introduction to the Module

CLASS CONTACT 9 hours per

week 10 weeks.
Lecture Seminar

2 hours 2 hours

E-learning 1 hour

Group work 3 hours

Assessment 1 hour
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Assessment of Module
INDIVIDUAL management report

- minimum 3000 words worth 70% of marks

GROUP presentation, with 1.

evidence of participation and contribution to the group.

2. reflective evaluation of own group,

and other groups performance - minimum 1000 words worth 30% of marks
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How we are going to make this work for us.?

CORE TEXT
Supplementary reading

TEACHING SCHEDULE
Definitions of strategy Strategic analysis frameworks, tools

and models How to assess business performance Strategy Formulation Strategy Implementation Corporate governance
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What is Strategy?
Class thoughts and views

please..

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What is Strategy?
There is no universally

agreed definition
Why..?

Academics have many views on what

strategy is... Porter (1996)

competitive strategy is about being different.. (Strategy is) the selection of a strategic position..
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Markides (1999)

What is The purpose of Strategy?

Much more agreement here;

the purpose of strategy is

to help organisations achieve sustainable competitive advantage..

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Another thought..
Kay (1993)
Views strategy of an organisation

as the

match between its internal capabilities and its external relationships..

Do you agree..? Groups please, 10 mins
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If a large part of strategy is about trying to understand that world that the organisation operates in, so that it can make sense of it, and influence its position in that world..

What does that imply for

managers who operate at strategic level..?

Class thoughts? Groups please 10 minutes

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Strategy
Analysis

Of internal & external environments Allows evaluation of how well placed it is to exploit opportunities

Formulation

At corporate level At business level

Implementation

Needs good, effective communication Needs stakeholder buy-in

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The strategic management process

Strategy ANALYSIS

Strategy FORMULATION

Strategy IMPLEMENTAT ION

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Strategy Formulation
2 main perspectives

The Design School

Andrews

(1971); after Ansoff (1965)

The Learning School

Mintzberg

(1990)

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The Design School

An Organisation has to MATCH its Strengths & Weaknesses (its internal

world e.g. Its resources and competences.. In other words, its strengths and weaknesses..)
...to the Needs of the Competitive

environment (its external world e.g. Its opportunities, and the threats it faces)

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The Learning School

The Rational approaches of the Design

School fail to take account of the HUMAN condition;

How strategy formulation occurs in real

life depends on people; inside and outside the organization.

They change... Over a period of time.

The way they think, they way they act, the things they need/do.

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The Learning School 3 sub approaches...

Intended strategy Realized strategy Emergent strategy

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Vision, Mission & Values

vision
What the organisation aspires to achieve in the future

mission

Why the organisation exists

values

An organisations central beliefs that will not be compromised

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Theory of the business

Is it reasonable to say that

a combination of Vision, Mission & Values are what a business is all about..?

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Any organisations Theory of its business

Has 4 characteristics;

Assumptions made must be

based in reality Assumption made in one area of the business must fit with others The Theory must be known, understood and accepted throughout the business The Theory of the business must be continually tested
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Types of strategy
Corporate
What industries the organisation wants to be in Allocates resources to SBUs and oversees big strategy

Business
How an organisation will compete in a market or industry sector SBUs given autonomy to plan strategies to compete

Functional
Subsumed within corporate and/or business

e.g. Marketing, R & D, Finance

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TIE it all together..

Internal environment Stake holders External environment

Values Goals Resources Structures Processes

General & competitive environments

STRATEGY S.W. O.T.

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Summary
This has been an introductory

section.
It has given us an over-view of

an immensely complex and changing subject.

Over the next few weeks we will

return to many aspects we have only just touched on

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