What you will study
This module aims for you to develop a deep understanding of effective strategic management in business and public services. The different examples presented across the units as well as activities that we have designed will enhance your learning through application to real-world situations. In addition, two course-long case studies in video form featuring IKEA and the European Training Foundation will help you consolidate your understanding of how strategy works in practice.
Unit 1: Introduction to strategy
This provides an overview of concepts such as strategy, vision, mission, stakeholder management and non-market strategy. Additionally, you will be introduced to the concept of purpose and the different types of business and public organisations that exist so that you can understand their aims and ways of measuring their performance (financial and non-financial). The unit also includes a session explaining the pressures on managers to integrate additional social and environmental issues into their organisational strategies.
Unit 2: Strategic analysis
This will teach you how to conduct external and internal strategic analyses, both in businesses and the public sectors. You'll explore concepts such as five forces, strategic groups, value chains as well as organisational capabilities. Building on Unit 1, you'll also learn how to analyse financial and non-financial indicators of organisational performance.
Unit 3: Strategic decision-making
This introduces you to how different organisations develop strategic options and choose between them, both at headquarters and unit level. You'll also learn the role that managers play in making these decisions. The unit places a special emphasis on the internationalisation of firms, which constitutes a key decision in the current business world. Consistent with prior units, it also explores the peculiarities of decision-making in the context of public services.
Unit 4: Strategy in action
This focuses on the implementation of strategic choices, devoting special attention to organisational structure and culture and the barriers that may unfold during this phase. You'll also learn about the importance and practice of change management. The unit addresses innovation in its broadest sense, including technological innovation, process innovation and management innovation, and its links to organisational strategies. There will also be a discussion about cutting-edge novel organisational structures and practices such as holacracy and Rendanheyi.
The module comprises 19 study weeks, which are structured in four linked units.
You will be required to study between 14 and 15 hours per week for six months.