FP-smanKAcad. year: 2018/2019
Strategic management in the market economy and competitive environment is a crucial aspect of company success. Decision about strategy, if the selected strategy should lead the company to the required target, has to be based on solid strategic analysis. Only on this base, the management can generate possible solutions, choose and implement an optimal variant. Within the process of strategic management, the management of a company considers factors such as available resources, mission and goals, external and internal environment of company. Strategy created and understood this way can represent a good basis for ensuring the competitiveness of a company.
Learning outcomes of the course unit
Students will have a clear idea of strategic management process and principals of strategic thinking. They will be made familiar with analytical tools intended for strategic analysis of external and internal factors. Students will learn the methodology of formulation of strategy based on hierarchical strategy structure - corporate, business and functional strategy. Students will also learn the methods applied for selection, realization and evaluation of strategy.
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.
Recommended optional programme components
Recommended or required reading
GRANT, R.M. Contemporary strategic analysis. 6th ed. Blackwell Publishing, 2008. 482 p. ISBN 978-1-4051-6309-5.
MALLYA, T. Základy strategického řízení a rozhodování. Praha: Grada Publishing, 2007. ISBN 978-80-247-1911-5.
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
KOTLER, P. Marketing Management. 10. vyd. Praha: Grada Publishing, 2001. 720 s. ISBN 80-247-0016-6.
JOHNSON, G. - SCHOLES, K. Cesty k úspěšnému podniku. Přel. Z. Strnad. 1. vyd. Praha: Computer Press, 2000. 803 s. Přel. z: Exploring Corporate Strategy. ISBN 80-7226-220-3
HITT, M.A. a K. G. SMITH. Great minds in management - The process of theory development. 1st ed. Oxford: Oxford University Press, 2007. 600 p. ISBN 978-0-19-927682-0.
MINTZBERG - QUINN - GHOSHAL The Strategic Management Process. Revised European Edition. Prentice Hall Europe 1998, 1036 p. ISBN 0-13-675984-X.
ZICH, R. Koncepce úspěchuschopnosti Konkurenceschopnost - vítězství, nebo účast v soutěži?. Brno: Akademické nakladatelství CERM, 2012. 125 s. ISBN: 978-80-7204-818- 2.
PORTER, MICHAEL E. Competitive Advantage. First Free Press Export Edition: Free Press 2004. 557 s. ISBN: 0-7432-6087-2.
COLLIS, D.J., MONTGOMERY, C.A. Corporate strategy - Resources and the Scope of the Firm. 1st ed. McGraw-Hill, 1997. ISBN 0-256-17894-1.
PORTER, MICHAEL E. Competitive Strategy. First Free Press Export Edition: Free Press 2004. ISBN: 0-7432-6088-0.
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 is based on points from written exam combined with oral examination.
Written exam with oral examination
First par consist of 10 multiple choice questions (ABCDE), second part consist of two open tasks with partial questions. Multiple choice questions are evaluated: correct answer “+ 1 point”, wrong answer “- 1 point” and no answer “0”. Just one answer is correct. Each open task is evaluated 45 points. Students have 15 minutes for the first part and 60 minutes for the second part. No materials can be used for the first part, second part is open book type. Oral examination follows written part. Maximum of points is 100.
Final mark follows from number of points and respect ECTS. Retakes are defined by Study and Examination Code.
Language of instruction
1. Strategic management – process and specification, hierarchy of company strategy.
2. Strategic goals and objectives and their links to vision, mission, corporate, business and functional strategy.
3. Definition and analysis of business environment. Identification of relevant factors of general and industry environment. Analysis of competitive environment. Identification of customers and competitors. Analysis of competition and competitive relations.
4. Analysis of internal factors of competitive advantage based on functional approach. Application of value chain as a tool for analysis and development of competitive advantage.
5. Application of resource based view and core competences in the process of identification and development of competitive advantage.
6. Definition of business strategy. Competitive character of business strategy. Business strategy based on application of business model.
7. Formulation of vision and mission. Corporate strategy in the context of diversification. Restructuring of company. Function of corporate strategy in development of strategic competitiveness.
8. Hierarchy of company strategy in the context of internationalization activities.
9. Strategic development based on external cooperation. Strategic alliances and networks. Strategic aspects of mergers.
10. Implementation of strategy. Organizational aspects of strategy implementation. Strategic control. Strategic leadership and role of management in strategy implementation.
The objective of the course is to make students familiar with the 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
Attendance at lectures is recommended. Control is in teacher’s competence. Projects are discussed as well during lectures.