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MSING015: BUSINESS STRATEGY
Core Module Information:
Prof. Dovev Lavie
MSc Management Route A and MSI MRes/PhD students only
3-hour lecture (x 10 weeks)
60% group case analyses; 20% individual case analysis; 20% class participation
This module exposes students to fundamental issues in business strategy with the aim of analysing business situations from the point of view of the general manager. General managers are responsible for making strategic decisions that ensure the long-term success of the firm. This module teaches students how to identify opportunities and threats in the competitive environment, develop and allocate resources, and engage in competitive interactions with competitors.
The main thesis of this module is that the firm’s bargaining position and the value and rarity of its resources and capabilities are essential to its competitive advantage. This advantage derives from the fit between the firm’s internal resources and capabilities and the external environment. To sustain this advantage the firm leverages early mover position, barriers to entry and isolating mechanisms, yet in dynamic environments, adaptation becomes critical. The module also considers the implications of global expansion and the process of formulating and implementing business strategy.
Upon successful completion of the module, a student will be able to:
- Develop and reinforce a general management point of view -- the capacity to view the firm from an overall perspective, in the context of its environment.
- Develop an understanding of fundamental concepts in business strategy, such as the roles of industry analysis, resource-based analysis, and competitive advantage.
- Develop an understanding of the inner workings of large and/or complex organizations – allowing students to better understand their work environment.
- Develop an awareness of the impact of external environmental forces and internal conditions on business strategy.
- Learn to distinguish between basic causes of business problems and attendant symptoms.
- Practice in working out business strategies and implementation plans.
- Develop habits of orderly, analytical thinking and skill in reporting conclusions effectively in written and oral form.
- Familiarity with some of the practical realities of running different types of businesses.
- Industry analysis
- Cost advantage
- Differentiation advantage
- Firm resources and capabilities
- Sustainability of competitive advantage
- Competitive dynamics
- Global strategy
- Strategy formulation
- Strategy implementation
60% is awarded on the basis of written team-based case analyses. 20% is awarded for individual case analysis, and the remaining 20% are based on contribution to class discussion.
Contemporary Strategy Analysis, by Robert M. Grant; Wiley Textbooks, 2013; ISBN 9781119941880