Course detail

Strategic Management

FP-smaPAcad. year: 2022/2023

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.

Guarantor

doc. Ing. Robert Zich, Ph.D.

Department

Institute of Management (ÚM)

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

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 + exam

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
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
ZICH, R. Koncepce úspěchuschopnosti Konkurenceschopnost - vítězství, nebo účast v soutěži?. Brno: Akademické nakladatelství CERM, 2012. 125 s. ISBN: 978-80-7204-818- 2.

Recommended reading

GRANT, R.M. Contemporary strategic analysis. 6th ed. Blackwell Publishing, 2008. 482 p. ISBN 978-1-4051-6309-5.
KOTLER, P. Marketing Management. 10. vyd. Praha: Grada Publishing, 2001. 720 s. ISBN 80-247-0016-6.
MALLYA, T. Základy strategického řízení a rozhodování. 1.vyd., Praha: Grada Publishing, a.s., 2007. 246 s. ISBN 978-80-247-1911-5.
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.

Elearning

eLearning: currently opened course

Classification of course in study plans

  • Programme MGR-IM Master's 1 year of study, winter semester, compulsory
  • Programme MGR-SRP Master's 1 year of study, winter semester, compulsory
  • Programme MGR-UFRP Master's 2 year of study, winter semester, compulsory-optional
  • Programme MPC-EVM Master's 2 year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

doc. Ing. Robert Zich, Ph.D.

Syllabus

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.

Exercise

13 hod., compulsory

Teacher / Lecturer

doc. Ing. Robert Zich, Ph.D.

Syllabus

Řešení případových studií
Prezentace projektů

Elearning

eLearning: currently opened course