Course detail

Strategy Management

FEKT-MPC-PMAAcad. year: 2021/2022

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.

Language of instruction

Czech

Number of ECTS credits

5

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. 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.

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

Teaching methods depend on the type of course unit as specified in the article 7 of BUT Rules for Studies and Examinations.

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 60 points, required minimum is 20 points. Specific tasks are evaluated in individual seminars.
• Project defence – up to 40 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 part consists 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.

Course curriculum

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.

Work placements

Not applicable.

Aims

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 and controlled. Attendance at seminars is required. Control is in teacher’s competence. Projects are discussed as well during lectures and seminars.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

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)
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 (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)

Recommended reading

Not applicable.

Classification of course in study plans

  • Programme MPC-EVM Master's, 2. year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

Syllabus

Introduction to management.
Properties of businessman, requirements, personal limits.
Management, aims, function, elements, definitions, position, structure.
Strategy, planning, basic elements of management.
Organising - Investment subjects, licence.
Organising - Investment subjects, public commercial organisation, limited partnership company.
Organising - investment subject: limited company.
Organising - investment subject: joint stock company.
Organising - organisation structure, principles of establishing, typology.
Organising - organisation structure, demonstration of used structure. Stimulation, motivation - reasons, types, applications.
Control, controlling - meaning, ways, applications.
Methods and tools of management.
Decision-making process, types and objectifying of the process.

Fundamentals seminar

13 hours, compulsory

Teacher / Lecturer

Syllabus

Assignment of seminary tasks
Role of manager
Evaluation of own business limits
Advantages of Taylor theory, Fayol theory of management
Solving of case study
Baťa management system - strategy of company
Baťa management system - commercial activities, social and educational activities
Solving of case study
Business Register - proposal of company record
Effective delegation of authority
Teamworks: Description of successful company

Project

26 hours, compulsory

Teacher / Lecturer