Course detail

Strategic Management

FP-SMANAcad. year: 2019/2020

Course is focused on strategic management of complex company development in competitive environment. Course is based on modern concepts of strategy, strategic management and strategic competitiveness. Principles of company development in the context of various approaches to strategy, including hierarchical and alternative approach to strategic management, are explained. Course deals with topic of diversified and non-diversified companies. Process of strategic management is explained on the base of variable approaches to strategy and strategic goals formulation, methods of strategic analysis focused both on evaluation of position of company and potential of future development, evaluation of market conditions and formulation and implementation of strategy of goal oriented company development.

Learning outcomes of the course unit

Students will learn application of strategic principles on all company management levels. Students obtain knowledge of approaches and methods of strategic analysis for complex evaluation of market environment and company potential. Students will be familiar with key approaches combining formulation and implementation of strategy of development of company.

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.

Recommended optional programme components

Not applicable.

Recommended or required reading

MALLYA, T. Základy strategického řízení a rozhodování. Praha: Grada Publishing, 2007. ISBN 978-80-247-1911-5.
KOTLER, P. and K.L. KELLER. Marketing Management. 14. ed. Pearson, 2011. 816 p. ISBN 978-0132102926. (doporučená literatura)
HITT, M.A., IRELAND, R.D. and R.E. HOSKISSON. Strategic Management - Competitiveness and Globalization: Concepts and Cases. 12th ed. South-Western College Pub, 2017. 896 p. ISBN 978-1-305-50214-7.
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.
PORTER, MICHAEL E. Competitive Advantage. First Free Press Export Edition: Free Press 2004. 557 s. ISBN: 0-7432-6087-2.
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 the project, its defence and points from written exam combined with oral examination. Score can be as following:
• Evaluation of continuous work at seminars – up to 40 points, required minimum is 20 points.
• Project defence – up to 60 points – based on team discussion. Students must prove both practical knowledge of solved problem and knowledge of theoretical background.
• Exam – written with oral examination – up to 100 points

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 20 point. 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.
Project elaboration and project defence
Project is solved in teams (3 – 8 members). Students can choose either analytical or complex project -for detailed specification see e-learning. Students must establish team, define the project goal and submit the specification of assignment until 6th week of semester. One consultation, at least, is compulsory before submission. Final defence is planned for two last weeks of semester and first two weeks of exam period. Time reserved for on defence is 60 – 120 minutes. Whole team must participate. Missing members must come individually. Whole project must be submitted one week before the defence - electronic version, pdf file (use surname of one management member as file name). Project submission and ate least 10 points from seminars is required minimum for evaluation from seminars. The defence test both practical knowledge of solved problem and knowledge of theoretical background. Whole team is evaluated. Peer evaluation of team members can be part of evaluation.
Penalization:
Late project submission: -10b
Late assignment submission: -10b
Compulsory consulting missing: -10b
Final mark follows from number of points and respect ECTS. Retakes are defined by Study and Examination Code.

Language of instruction

Czech

Work placements

Not applicable.

Course curriculum

1. Importance, specific and process of strategic management. Hierarchical and alternative approach to strategy. Structure and content of strategy. Importance and hear of levels of strategy for company development. Strategy as fundamental point of company behavior.
2. Definition and evaluation of strategic goals in the context of vision, mission, corporate, business and functional strategy. 3D view of strategic objectives. Application of SMART principles in strategic management. Goal oriented approach to stakeholders.
3. Meaning, structure, specific and evaluation of requirements of strategic analysis. Methods of external and internal strategic analysis. Project principles in strategic analysis.
4. Competitive space concept and its application in evaluation of competitive environment. Complex evaluation of competitive links and stakeholder evaluation. Identification of external and internal factors influencing strategic development. Competitive market mapping. Definition of the range of competitive market. Evaluation of competition and competitive relation. Competitive comparison.
5. Strategic competitiveness of company. Nature of competitive advantage. Customer value in context of competitive advantage. Typology of competitive advantages. Competitive nature of strategy.
6. Value chain traditional approach to the value creation. Value creation in the concept or resources and core competences. Net value creation concepts. Value cocreation concepts.
7. Evaluation of internal factors in the process of strategic management of company. Internal factors and approaches to the value creation and cocreation.
8. Corporate strategy in the development of diversified company. Triangle of corporate advantage, Evaluation of diversification of company. Restructuring of diversified company.
9. Business strategy as frameworks of competitive and business behavior of company. Definition of strategic business unit. Application if business models for definition of business strategy. Application of structure of marketing mix for formulation of business strategy. Competitive character of business strategy.
10. Character of strategy and its influence on level and character of competitiveness. Characteristics of levels of strategy in the context of competitiveness development. Meaning of hierarchy of strategy for competitiveness development.
11. Variants of strategic development. Individual and cooperative approaches to strategic development. Aspects of internationalization in strategic company behavior. Merger, acquisition and net-based forms of competitive development.
12. Approaches to formulation and evaluation of conclusion of analysis and formulation of foundation for strategy formulation. Factors influencing strategy selection, approaches to strategic variants evaluation. Approaches to formulation of strategy.
13. Aspects of implementation of strategy. Strategic control. Communication of strategy.

Aims

Course is focused on explanation of strategic management as a fundamental point of complex strategic development of company.

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

The attendance at seminars is required, at least on consulting meeting focused on assignment is required and one consulting meeting focused on project solution. The attendance at the defence of project is compulsory. The attendance at lectures is recommended.

Classification of course in study plans

  • Programme MBA-IM Master of business administration, 1. year of study, summer semester, 7 credits, compulsory

Type of course unit

 

Guided consultation in combined form of studies

40 hours, optionally

Teacher / Lecturer

eLearning