Business Strategy
Duration:
1 Teaching Period
Unit Code:
MGT80002
Contact Hours:
Recommended 10 hours of study per week
About this unit
This unit provides students with skills and practice of strategic management and critical thinking techniques in turbulent environments. In addition, the subject develops skills in using strategic and foresight tools and critical evaluation of strategic alternatives in the context of small to medium enterprises involved in single industry, as well as strategic business units of large corporations. Its main focus is not only the generation of viable strategic alternatives to gain competitive advantage but also developing a viable implementation plan.
Content
- Overview of Strategic Management – past, present and future trends
- The future of strategy and relevance of non-linear reality in entrepreneurship, innovation, and its implication on competitive advantage – external environment analysis
- Creative destruction versus new business creation – identification and evaluation of business opportunity
- Evaluating and managing the internal environment
- Sorting the Strategy Tool Box
- Developing strategic alternatives and selection of viable strategy
- Implementing the strategy – allocation of requisite resources
- Strategy review, evaluation and control.