Course detail

Strategic Management

FP-IsmanPAcad. year: 2021/2022

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 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 (compulsory) – up to 60 points, required minimum is 20 points. Specific tasks are evaluated in individual seminars.
• Project defense (optional) – 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
Two open tasks with partial questions plus oral examination. Students have 60 minutes for written part. Written part is organized as open book exam. Oral examination follows written part. Maximum of points is 100.
Project elaboration and project defense
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 is recommended before submission.
Defense of the final study is planned for first two weeks of exam period (optional). Registration for the final defense will be in the last week of semester. Time reserved for on defense is 60 – 120 minutes. Whole team must participate. Missing members must come individually. Whole project must be submitted one week before the defense - electronic version, pdf file (use surname of one management member as file name). Project submission is required for the final defense – standards of academic writing are required. The defense 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
Final mark follows from number of points and respect ECTS. Students can be evaluated on the base of project when the results are sufficient. Retakes are defined by Study and Examination Code.

ISP:
- Tasks + project and their defense + exam

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.

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)
GRANT, R.M. Contemporary Strategy Analysis: Text and Cases Edition. John Wiley & Sons, 2016. 776 p. ISBN 9781119120841. (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)
WÖRDEMANN, W., BUCHHOLZ, A. and N. WILEY. The Impossible Advantage: Winning the Competitive Game by Changing the Rules. 1st ed. Wiley, 2009. 220 p. ISBN 0470717122. (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, compulsory

Teacher / Lecturer

Syllabus

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.

Exercise

13 hours, compulsory

Teacher / Lecturer

Syllabus

1. cvičení: Úvod do předmětu strategie řízení. Zadání semestrálního projektu.
2. – 6. cvičení: Konzultace zadání projektu, konzultace projektu, konzultace jednotlivých témat projektu.
7. – 10. Cvičení: konzultace a řešení projektu, konzultace a procvičování jednotlivých oblastí řešení projektu.
11. – 13. Cvičení: Finalizace a odevzdání projektu, obhajoby projektu, ve 13 týdnu zápočet.