Course detail

Strategic Management

FP-IsmanPAcad. year: 2016/2017

Strategic management in the market economy and competitive environment is crucial aspect of company success. Decision about strategy, if selected strategy should lead company to the required target, has to be based on solid strategic analysis. Only on this base management can generate possible solutions, choose a and implement optimal variant. Within the process of strategic management management of company consider factors like available resources, mission and goals, eternal and internal environment of company. Strategy created and understood in this way can be good base of the competitiveness of company.

Language of instruction

Czech

Number of ECTS credits

3

Mode of study

Not applicable.

Learning outcomes of the course unit

Students will have a clear idea of strategic management process and principals of strategic thinking. Students will be made familiar with analytical tools for strategic analysis of external and internal factors. Students will learn method of formulation of strategy based on hierarchical strategy structure - corporate, business, functional and horizontal strategy. Students learn as well methods of selection, realization and evaluation of strategy.

Prerequisites

Students are expected to have basic knowledge of methods used in planning, organizing, stimulation and control. They have to understand basic function of company. Knowledge of basic marketing methods is required.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The course contains lectures that explain basic principles, problems and methodology of the discipline, and exercises that promote the practical knowledge of the subject presented in the lectures.

Assesment methods and criteria linked to learning outcomes

Evaluation of the course consists of two parts - the processing of the project dealing with the case study and exam written test with possibility of consequent oral examination. Scoring of each component is as follows:
- Case study is evaluated a maximum of 40 points according to the level of processing
- The final test has two parts. The first part has 10 questions with optional answers. The second part has two open questions. There will be only one correct answer for questions with optional answers. The correct answer is evaluated by 2 points, wrong answer -1 point and no response 0 points. Open questions are evaluated each max. 20 points. The maximum score for the test is 60 points. Time for the first part of test ) questions with optional answers) is 20 minutes. Time for the second part of test (open questions) is 60 minutes. No materials can be used for the first part of the test. The second part of the test (open questions) is “open book”.
Students solve in teams one of the specified variant case study, individually defined topic is possible. The composition of the teams, chosen case study and name of the company should be sent electronically by the end of the fifth week of the semester. Particular company can be chosen only by one team within semester and course. Particular focus of the case study is gradually solved in exercises according to the timetable. The study addresses the strategic aspects of the behavior of individual companies in those sectors, or frames on the strategic analysis of the company and strategy formulation of the company. The study is presented and defended in the term specified by timetable – see news. Students have to hand over a written feasibility study in the form surname_surname_....doc or surname_surname_....pdf. Use surname of team members for name of file. These documents must be submitted one week before presentation. Late submission will be penalized tearing down 10 points from the total score. Processing, delivery and presentation of case studies is also a condition for granting credit.
In the case of poor results of case presentation (less than 10 points) students can prepare new extra case instead of it. The best possible evaluation for this new extra case would be 20 points. Term of presentation will be set up individually.

The maximum number of points, at 100% fulfillment of the two conditions, is 100. The final classification is based on the number of points and is in line with ECTS. Students have to obtain at least 50 points in sum to pass the course. In case of insufficient number of points, or the need to obtain a better assessment, students have the opportunity to use oral exam.

Course curriculum

Description and characteristics of the process of strategic management.
Possible ways of making goals in the company, three levels of strategy, SBU.
The structure of the analytical procedures. General and specialization environment of the company.
Competition and competitive environment, competitive space.
Internal factors - functional approach.
Analyses of resources, competitive advantage, basis competencies
Strategy formulation, strategy hierarchy, Porter's generic strategies.
Diversification, restructualization.
The essence of acquisitions, mergers, joint ventures and franchising, internationalization strategy.
Factors influencing the choice of strategies, methods of selection.
Implementation and evaluation of strategy.

Work placements

Not applicable.

Aims

The course objective is to make students familiar with strategic management process in market and competitive environment. The course is focused on explanation of analytical tools and possibility of their application and on formulation of strategy and its realization.

Specification of controlled education, way of implementation and compensation for absences

The attendance at seminars is required. The attendance at the presentation and defence of project is compulsory. The attendance at lectures is recommended.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

ZICH, R. Koncepce úspěchuschopnosti Konkurenceschopnost - vítězství, nebo účast v soutěži?. Brno: Akademické nakladatelství CERM, 2012. 125 s. ISBN: 978-80-7204-818- 2. (CS)
COLLIS, D.J. and C.A. MONTGOMERY. Corporate strategy - Resources and the Scope of the Firm. 2nd ed. McGraw-Hill, 2004. 204 p. ISBN 978-0072312867. (základní literatura) (EN)
HITT, M.A. - IRELAND, R.D. - HOSKISSON, R.E. Strategic Management - Competitiveness and Globalization: Concepts. 6th ed. South-Western College Pub, 2004. 544 p. ISBN 0324275307 (EN)
PORTER, MICHAEL E. Competitive Strategy. First Free Press Export Edition: Free Press 2004. 396 (EN)

Recommended reading

KOTLER, P. and K.L. KELLER. Marketing Management. 14. ed. Pearson, 2011. 816 p. ISBN 978-0132102926. (doporučená literatura) (EN)
MINTZBERG, H., QUINN, J.B. and S. GHOSHAL. The Strategic Management Process. Revised European Edition. Prentice Hall Europe 1998, 1036 p. ISBN 0-13-675984-X. (doporučená literatura) (EN)
PORTER, M. E. Competitive Advantage. First Free Press Export Edition: Free Press 2004.557 s. ISBN: 0-7432-6087-2. (doporučená literatura) (EN)
PORTER, M. E. Competitive Strategy. First Free Press Export Edition: Free Press 2004. 396p. ISBN: 0-7432-6088-0. (doporučená literatura) (EN)
KANDER, D. All In Startup: Launching a New Idea When Everything Is on the Line. 1st ed. Wiley, 2014. 304 p. ISBN 1118857666. (Doporučená literatura) (EN)

Classification of course in study plans

  • Programme MGR-SI Master's

    branch MGR-IM , 1. year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

Syllabus

1. Popis a charakteristika procesu strategického řízení firmy
2. Možné způsoby tvorby cílů ve firmě, hierarchie strategie,SBU
3. Struktura analytických postupů. Obecné a oborové okolí firmy
4. Konkurence a konkurenční prostředí, konkurenční prostor
5. Interní faktory – funkční přístup
6. Analýzy zdrojů, konkurenční výhoda, základní kompetence
7. Formulace strategie, Porterovy generické strategie, hodnotový řetězec
8. Diverzifikace, restrukturalizace
9. Podstata akvizice, fúze, joint-venture a spolupráce firem, strategie internacionalizace
10. Faktory ovlivňující výběr strategie, metody výběru
11. Implementace a hodnocení strategie
12. Strategické vůdcovství, organizační aspekty realizace strategie
13. Alternativní přístupy k formulaci strategie, Specifika strategického řízení různých typů organizací

Exercise

13 hours, compulsory

Teacher / Lecturer

Syllabus

1. Introduction to strategic management. Requirements on final project
2. Czech industry, strategic management of Czech companies - discussion.
3. Case study1
4. Practical exercises - application of presented methods
5. Case study 2
6. Practical exercises - application of presented methods
7. Case study 3
8. Presentation of final projects
9. Presentation of final projects
10. Conclusion, test