FP-EsmtPAcad. year: 2019/2020
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
a) Displays comprehensive knowledge and understanding of strategic management concepts, strategic thinking and process of strategic management of company in global environment
b) Understanding of a complex of managerial tools, models and techniques to specific needs of strategic management
c) Encourage managerial skills in order to formulate strategy on the base of complex analysis and to set and manage conditions for its implementation
d) Demonstrates expertise in highly specialised conditions, efficiency of realization of implementation of strategy from the view of key stakeholders
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. (EN)
KEŘKOVSKÝ, M. - VYKYPĚL, O. Strategické řízení - teorie pro praxi. 1. vyd, Praha: C.H.Beck, 2002. 172 s. ISBN 80-7179-578-X. (CS)
KOTLER, P. Matrketing Management. 10. vyd. Praha: Grada Publishing, 2001. 720 s. ISBN 80-247-0016-6. (CS)
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. - MONTGOMERY, C.A. Corporate strategy - Resources and the Scope of the Firm.1st ed. McGraw-Hill, 1997. 764 p. ISBN 0-256-17894-1. (EN)
MALLYA, T. Základy strategického řízení a rozhodování. 1.vyd., Praha: Grada Publishing, a.s.,2007. 246 s. ISBN 978-80-247-1911-5. (CS)
MINTZBERG - QUINN - GHOSHAL The Strategic Management Process. Revised European Edition. Prentice Hall Europe 1998, 1036 p. ISBN 0-13-675984-X. (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. 396p. ISBN: 0-7432-6088-0. (EN)
PORTER, MICHAEL E. Competitive Advantage. First Free Press Export Edition: Free Press 2004.557 s. ISBN: 0-7432-6087-2. (EN)
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.
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.
To introduce to many generally used concepts and ideas of strategic management process and principals of strategic thinking
To train the students’ ability to use analytical tools for strategic analysis of external and internal factors.
To equip the student with a detailed knowledge of method of formulation of strategy based on hierarchical strategy structure - corporate, business, functional and horizontal strategy.
To develop management skills for application of methods of selection, realization and evaluation of strategy.
Specification of controlled education, way of implementation and compensation for absences
Attendance at lectures and seminars is required as well as studying of basic literature. Control is in teacher’s competence. The attendance at the presentation and defence of project is compulsory.