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STRM043 COMPETITIVE STRATEGY & INNOVATION

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Successful organisations need to be flexible and adaptable to rapidly changing circumstances. For managers, this means being able to reconcile a diversity of strategic issues, no matter what their professional background.  All managers need the capability to develop and interpret strategies for their organisations, both at corporate and business levels, in order to seek competitive advantage in a fast-changing world where innovation and adaptability are key strategic weapons.
 
OVERALL AIMS FOR THE MODULE
 

  • The module helps students develop a broad knowledge and understanding of strategy development in organisations, the external context in which they operate and how they are managed for strategic goals.

 

  • They will be able to understand, respond to and lead change and be able to develop intellectual and professional breadth by making integrative links across the various functional areas of organisations whilst taking into account the social, environmental and ethical elements required of leaders today.

LEARNING OUTCOMES
On successful completion of the Module, participants will be able to:
Knowledge and Understanding
 

  1. Identify, critically appraise and select strategies for organisations operating within domestic and international contexts

 

  1. Critically evaluate strategies linked to responding to external environments (fit strategies) and contrast them to strategies linked to core competencies (stretch strategies)

 

  1. Recognise, consider and address macro-economic trends in a changing world and their impact on business whilst evaluating competitive, organisational and ethical values.

 
Subject Specific Skills
 

  1. Be able to apply the concepts of strategic planning to current organisations and conduct an environmental and competitor analysis of a given organisation or industry, including within an international or global marketplace
  2. Develop appropriate policies and strategies within a changing environment for a variety of organisations, to meet stakeholder interests.

 
Key Skills
 

  1. Develop and demonstrate key communication and time management skills

 

  1. Develop effective group-based capabilities both in terms of leadership and/or participation

 

  1. Demonstrate critical thinking and creativity: engage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise alternative strategies and choices.

 
INDICATIVE CONTENT:
The contents of this module, including a workshop, are shown below:
Introduction to Strategy
The role and nature of strategic management. Levels of strategy.
Overview of the strategic management process. Strategic decision-
making in practice, including planned and emergent strategies. Characteristics of strategy in the public sector and international context.
 
Resource / Internal Analysis
Resource auditing and identifying value-added both within the
Organisation and between organisations. From value-added to
Developing core competencies and the resource-based view of
Competitive advantage. Identifying Strengths and Weaknesses
In the organisation
 
Market based / External Analysis
Structure of Environmental analysis and rates of change in the
Environment from stable to chaotic. Broad structural analysis and
Competitive analysis and identifying opportunities and threats. Industry and Competitive Analysis
 
Strategy Choices and Formation
Theory of the firm. Generic strategies and market positioning. Identifying potential strategic options for the organisation. Directions and methods for strategic development. Competitive dynamics.
 
 
 
 
Strategy Implementation and Evaluation
Issues affecting strategy implementation and change management. Evaluation criteria and techniques emphasising suitability, feasibility and acceptability and allied screening devices. Portfolio analysis and
Balanced scorecard approach
 
Strategy in context
A look at strategy in the public and third sectors as well as corporate vs business unit strategies
 
Strategic visioning
Scenario planning, drivers of change, Blue Ocean strategies,
 
Managing Innovation and Creativity
Lateral thinking, managiing innovation and commercial – a stimulating two-day workshop for new skills and reflection on individual attitutes.
 
Global Issues and Trends in Strategic Management
Stratgey around the world, key macro-economic issues driving change, business and society, globalisation and technology, risk, corporate social responsibility
 
 
 
 
 
ASSESSMENT STRUCTURE & CRITERIA
 
There are two assessments for this module, the first of which is an individual presentation analysing a company followed by another individual assignment case analysis, both based on an actual and integrated case studies. The main focus of case based assignments is to test the students’ ability to apply some of the strategic concepts covered in the course to real-world organisations and sometimes their own organisations. Students will need to carry out some independent research to determine the effectiveness of an organisation’s strategy.
 
Harvard referencing system is used at all times for the recording & citing of all academic theory. It is an important academic skill & principal to follow & observe. Students must familiarise themselves with Harvard referencing & make the time to understand & apply it.
 
Assignments should be accurately and appropriately referenced. Marks may be deducted for poor or inadequate referencing. The work submitted must be authentic and original, in other words, the assignment should be your own work.
 

  • Where there is concern over the authenticity of an assignment, it will be referred to the School Academic Misconduct Officer. Work that has been plagiarised will be dealt with very severely.

 

  • All completed work must be submitted Electronically through the NILE site for the Module. Details will be issued in due course.

 

  • It is important that you comply with assignment submission dates as these are non-negotiable. If an extension is given it will only be in exceptional circumstances & be a maximum of two weeks.

 

  • If you are unable to submit your assignment by the required date & have legitimate grounds you will need to make an application through the university mitigating circumstances policy, details of which are outlined on the university web site.

 
ACADEMIC OBLIGATIONS
 
Students who enrol on a course at The University of Northampton are expected to fulfil the academic requirements for the course and meet any associated forms of professional or vocational conduct. These include:
 

  • attendance at all scheduled lectures, seminars and other similar teaching sessions
  • participation in and engagement with all scheduled teaching sessions, including completing appropriate preparatory work
  • providing prompt explanations for unavoidable absence from such sessions

 
Where a student is found not to be meeting these requirements she/he will be subject to the procedure for Failure to meet Academic Obligations.
 
University policies and procedures
 
The Academic Registry intranet site can be accessed by accessing the university web site on www.northampton.ac.uk  and then clicking on ‘Academic Registry’ under ‘Schools and Departments’. This contains information on University policies relating to issues such as:
 
Academic regulations and appeals
Mitigating Circumstances procedures – crucial to consult and use if you think you cannot submit an assignment on time or cannot sit an exam for a legitimate reason
 
Academic Misconduct and cheating
The Student Code of Conduct including your academic obligations as a student
READING LIST:
Core recommended texts (one of the following):
Grant, R. (2015) Contemporary Strategy Analysis, 9th ed, Wiley
Johnson, G. Whittington, R. & Scholes, K. (2011)  Exploring Strategy, 9th ed, FT Prentice Hall
Lampel J., Minztberg H., Quinn, J.B., Ghoshal, S (2014) The Strategy Process: Concepts, Contexts, Cases, 5th ed, Pearson
Additional reading:
Mintzberg H., Ahlstrand B. and Lampel, J. (2009) Strategy Safari, 2nd edition, FT Prentice Hall
Financial Times / FT.com
Bouee, C-E. (2011) China’s Management Revolution, Palgrave Macmillan
Done, A. (2012) Global Trends, Palgrave Macmillan
Lloyd, T (2009) Business at a Crossroads: The Crisis of Corporate Leadership, Palgrave Macmillan
Mayle, D. (2011) Managing Innovation and Change, 3rd ed, Open University/Sage Publicatio

 
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