Course detail

Strategic Management

FP-IsmanPAcad. year: 2010/2011

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

Metody vyučování závisejí na způsobu výuky a jsou popsány článkem 7 Studijního a zkušebního řádu VUT.

Assesment methods and criteria linked to learning outcomes

To get course-unit credit students have to complete three conditions - active participation at seminars, solving of case studies and elaboration of final project. Participation at seminars is required. There will be solved three case studies during semester. Students solve them in teams on lessons according to time table. Students will choose one of these studies and elaborate it as written report. Final project is solved in teams. Project has to be focused on strategic analysis of company and proposal of formulation of strategy and its realization. Project will be presented at lesson according to timetable. Students submit project in written form with presentation materials.
Only students who obtained course-credit unit can pass an exam. Student has to demonstrate his/her ability to explain theoretical base and apply it in wide context. of practical application.Exam is written - test with answers (a,b,c,d,e) - 60 minutes.

Course curriculum

1. Process of strategic management
2. Definition of business objectives, three levels of strategy, strategic business units
3. Behavior of companies in competitive environment
4. Structure of business environment, analysis of general and industrial environment
5. Analysis of internal factors
6. Strategy formulation, competitive strategy
7. Generic strategies
8. Diversification, mergers and acquisition, joint venture, internationalization of company
9. Selection of strategy
10. Implementation and evaluation of strategy, development of strategic management

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

Attendance at seminars is required and controlled. If percentage of absence is more than 10% than this absence can be compensated by knowledge test, solving of additional case study and/or elaborating of additional final project. Attendance at lectures is not compulsory, but is recommended.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

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)
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

Not applicable.

Classification of course in study plans

  • Programme MGR-SI Master's

    branch MGR-IM , 2 year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

Syllabus

1. Process of strategic management
2. Definition of business objectives, three levels of strategy, strategic business units
3. Behavior of companies in competitive environment
4. Structure of business environment, analysis of general and industrial environment
5. Analysis of internal factors
6. Strategy formulation, competitive strategy
7. Generic strategies
8. Diversification, mergers and acquisition, joint venture, internationalization of company
9. Selection of strategy
10. Implementation and evaluation of strategy, development of strategic management

Exercise

13 hod., compulsory

Teacher / Lecturer

Syllabus

1. Introduction to strategic management. Requirements on final project
2. Czech industry, strategic management of Czech companies - discussion.
3. Case study1
4. Practical exercises - application of presented methods
5. Case study 2
6. Practical exercises - application of presented methods
7. Case study 3
8. Presentation of final projects
9. Presentation of final projects
10. Conclusion, test