Resources a Source of Competitive Advantage

STO313 Module Guide 2020-21 Page 1 Strategic Management: Theory and Practice (STO313) Course Structure: Semester 2, 2020-21 Course Assessment: 100% Coursework (60% case study-teaching note, 40% essay) Module Leader: Dr Jonathan Moizer Email: [email protected] Other Module Staff: Dr Mamata Dhakal Email: [email protected] The Student Support office for this module is located in Room 109, Roland Levinsky Building. Opening Hours: 0830 – 1700 Mon - Thurs (Fridays 0830 – 1630) Tel: 01752 585020 Email: [email protected] Introduction The purpose of this module is to develop an understanding of strategic management in facilitating enterprise sustainability and growth. The module provides an integrative perspective on business development. The module introduces key strategic issues and frameworks and develops students’ abilities in applying appropriate analytical techniques used in strategic decision-making. The module is a capstone to the degree programme and, in addition to applying new approaches, it requires students to practice what they have learnt from previous modules. The module is delivered as a block over an 11-week period. The timetable contained within this document indicates exactly when you will be expected to attend online classes & where you have the option to attend surgeries with module teachers. STO313 Module Guide 2020-21 Page 2 Module Aims • To apply appropriate methodologies and techniques to the analysis of strategic management issues. • To develop an understanding of the cross-disciplinary integrative nature of the subject material. • To use the principles covered in the programme to analyse issues in a variety of markets and contexts, including within a simulation game. Learning Outcomes By the end of the module you should be able to: 1. Demonstrate an ability to synthesise and to critically assess different perspectives on enterprise strategy. 2. Appreciate the strategic significance of value creation and competitive advantage. 3. Select and apply appropriate techniques of strategy analysis to obtain useful strategic insights. 4. Convert strategic analysis and vision into strategies appropriate to the operational context of the enterprise. 5. Effectively communicate and present the results of analysis. Employment Competencies You may achieve the following competencies and skill development in this module, which you may wish to record in your Higher Education Achievement Record (HEAR). • Research skills • Group working • Problem solving • Decision making • Project management • Organisational skills • Leadership skills • Result-driven working • Communication/presentation skills STO313 Module Guide 2020-21 Page 3 Timetable Wk. Online Lectures & Seminars Reading and Live Sessions 1 Fri 5 Feb Introduction to Strategy 11:00-13:00 Reading-Reflecting on the Strategy Process 11:00-12:00 • Pre-recorded lecture 12:00-13:00 • Live workshop session via Zoom-Strategy Terms 2 Tue 9 Feb Case Method and Case Assignment 11:00- 13:00 Reading-Sample Case Assignments 11:00-12:00 • Live lecture via Zoom 12:00-13:00 • Live workshop session via Zoom-Case Assignment 3 Tue 16 Feb Strategic Management 11:00-13:00 Reading-Vision, Mission and Corporate Values 11:00-12:00 • Live lecture via Zoom 12:00-13:00 • Live workshop session via Zoom- Snapchat Case Study 4 Tue 23 Feb The External Environment 11:00-13:00 Reading-Organising Environmental Scanning 11:00-12:00 • Live lecture via Zoom 12.00-13.00 • Live workshop session via Zoom-HE Case Study 5 Tue 2 Mar Internal Resources and Competencies 11:00-13:00 Reading-Why a management concept fails to support managers’ work 11:00-12:00 • Live lecture via Zoom 12:00-13:00 • Live workshop session via Zoom-Internal Resources and Competencies 6 Tue 9 Mar Generic Strategies Growth & Disposal Strategies 11:00-13:00 Reading-Dynamic Capabilities and Strategic Management 11:00-12:00 • Live lecture via Zoom 12:00-13:00 • Live workshop session via Zoom- Facebook Case Study 7 Tue 16 Mar Implementation and Evaluation 11:00-13:00 Reading-The Balanced Scorecard 11:00-12:00 • Live lecture via Zoom 12:00-13:00 • Live workshop session via Zoom-Implementation and Evaluation 8 Tue 23 Mar Global Strategy Essay Assignment 11:00-13:00 Reading -The boundaries of the firm in global strategy 11:00-12:00 • Live lecture via Zoom 12:00-13:00 • Live workshop session via Zoom- Essay Assignment Easter Break 9 Tue 20 Apr Maverick Strategies 11:00-13:00 Reading-Blue ocean strategy 11:00-12:00 • Live lecture 12:00-13:00 • Live workshop session via Zoom-Blue/Red Ocean Discussion STO313 Module Guide 2020-21 Page 4 10 Tue. 27 Apr Innovation Strategy 11:00-13:00 Reading-Strategies to Turn Adversity into Profits 11:00-12:00 • Live lecture 12:00-13:00 • Live workshop session via Zoom- Microsoft vs Apple Case Video 11 Tue. 4 May Effectuation 11:00-13:00 Reading-Strategic and Operational Planning, Uncertainty, and Performance in Small Firms 11:00-12:00 • Live lecture 12:00-13:00 • Live session via Zoom-Module feedback and Q&As Lectures & Seminars Lectures will be pre-recorded and uploaded to the DLE, and seminars will be held via live Zoom conferencing software. Please access these classes using Zoom via your teaching timetable. STO313 Module Guide 2020-21 Page 5 Surgeries Two optional 1 hour surgeries (1 hour with Mamata &/or 1 hour with Jonathan) are available per week for face to face support between week 2 and week 11. You can request to attend a surgery via Zoom if you prefer. Bring along questions about lecture or seminar content or assignments. Please email Mamata or Jonathan 24 hours ahead of a meeting to book a meeting slot. The surgeries1 will run as follows: Date Time Room Wednesday 10th February 10:00-11:00 with Mamata CKY 511 Thursday 11th February 09.00-10.00 with Jonathan CKY 511 Thursday 11th February 10:00-11:00 with Mamata CKY 511 Wednesday 17th February 10:00-11:00 with Mamata CKY 511 Thursday 18th February 09.00-10.00 with Jonathan CKY 511 Wednesday 24th February 10:00-11:00 with Mamata CKY 511 Thursday 25th February 09.00-10.00 with Jonathan CKY 511 Wednesday 3rd March 10:00-11:00 with Mamata CKY 511 Thursday 4th March 09.00-10.00 with Jonathan CKY 511 Wednesday 10th March 10:00-11:00 with Mamata CKY 511 Thursday 11th March 09.00-10.00 with Jonathan CKY 511 Thursday 18th March 09.00-10.00 with Jonathan CKY 416 Thursday 18th March 10:00-11:00 with Mamata CKY 416 Thursday 25th March 09.00-10.00 with Jonathan CKY 511 Thursday 22nd April 09.00-10.00 with Jonathan CKY 511 Thursday 22nd April 10:00-11:00 with Mamata CKY 511 Wednesday 28th April 10:00-11:00 with Mamata CKY 511 Thursday 29th April 09.00-10.00 with Jonathan CKY 511 Tuesday 4 th May 10:00-11:00 with Mamata CKY511 Thursday 6 th May 09.00-10.00 with Jonathan CKY511 1 Face to face surgery contact is subject to COVID-19 developments & may be by conference call only. STO313 Module Guide 2020-21 Page 6 Assessment • 60% Coursework (Case study/teaching note assignment) • 40% Coursework (Essay) Assessment 1: Case Study Assignment (60%) In order to encourage strategic thinking, you are required to write and evaluate an individually written Case Study of approximately 2,000 words. This must be submitted online via the Moodle-DLE site by 12:00, Wednesday 28 th April. Work submitted up to 24hrs late will be capped at 40%. After this period has elapsed, it will receive a mark of zero. Module staff are unable to issue students with extensions to deadlines. If you have a valid reason for late or non-submission you will need to complete an extenuating circumstances form and obtain approval from the Faculty. Please be aware that students can now self-certify for illness once in an academic year. The extenuating circumstances regulations can be found here: https://www.plymouth.ac.uk/student-life/your-studies/essentialinformation/exams/examrules-and-regulations/extenuating-circumstances. This assignment has two parts: 1. A case study description. This will identify the details of a UK-based organisation that has a specific strategic problem(s), which needs a turnaround or retrenchment strategy. For example, the problem may be the result of unsuccessful previous strategies, changes in market demand, or changes in competition, or a combination of factors. The problem should exist now, or have existed in the previous 12 months. The case organisation may be a private business (sole trader, partnership or company), social enterprise, or public body. Your case description should be based on secondary data, i.e. public domain knowledge, and primary research is not expected. However, if you have access to primary data, e.g. you work for the firm or have contacts in the firm, you may use such primary data. The case section should be around 1,000 words and accounts for 40% of the assignment mark. The case should lead to a strategic management issue or problem that needs solving. The end of the case must be followed by two strategic management questions. At least one of the questions should require the ‘student’ to devise or suggest a strategy for the future, to solve the specific problem(s) or issue(s). (The Marking Grid with weighted marks for each marking criteria for Case Description will be uploaded to the DLE). 2. A teaching note. Think of this as your ‘model answers’. For each question, you should provide details of at least two possible/acceptable answers. Remember, case answers should be given in the form of a conclusion (e.g. this is what you should do) followed by evidence of how you arrived at this conclusion. It may be appropriate to spell out the learning outcomes of the case. STO313 Module Guide 2020-21 Page 7 The teaching note should be no more than 1,000 words in total and accounts for 60% of the mark. Marks are awarded for how well the two parts integrate. Theories or concepts covered in the module must be used to support the teaching note. You may also other appropriate sources such as strategic management text books and journals. Their use must be appropriate and clearly justified. Please note that all material should be referenced in a section following the teaching note (e.g. newspapers, text books, journals, etc.). References are not included in your word count. The use of photographs, tables, etc. is encouraged where relevant. During the module, case studies will be used to highlight various strategic issues and these can be seen as useful benchmarks. The core text (Angwin and Cummings, 2017) offers many examples of good case studies. Indeed, almost all strategic management text books will be illustrative here. Case study information may be sourced from the business sections of newspapers, news agencies, personal contacts, or from your own experience. It may help to contextualise your case by stating at the beginning of the teaching note where the case belongs in a strategic management course. Your target audience are final year undergraduate Business Management students studying a strategic management core module. You only have 1,000 words for each part and you will more than likely have to write and rewrite the case several times until you think you are making the best use of the available space to pose an interesting strategic management case. References are not included in your word count. Finally, for guidance on marking, an outstanding case would be fit for teaching with no modification. The following is a list of points that you should bear in mind: 1. Ensure that you address a strategic problem(s) or issue(s). 2. Avoid disclosing new information within the teaching note; all information required to answer the questions should be contained within the case. 3. Having written the questions and possible answers you might find that the original question just does not work very well. A good case will be re-drafted several times until there is a good fit between the case and the answer. 4. The questions and answers should not lead to a brain-dump of all the strategic management theory you know. Good case studies focus in on specific areas of strategy, with practical issues arising from the case. You need to answer these well, rather than use a scattergun approach. 5. The level of depth required to give a good specific answer requires a similar level of depth within the case. If there is not enough data available to provide this, then this suggests either a poor choice of case or a poor choice of question. 6. Given that this is a final year module, SWOT analysis should be avoided in answers. You need to ask whether the questions being asked are appropriate for 3rd year business management students – specifically strategic management students. 7. However, SWOT analysis might be a useful part of the case if it is then used to answer the questions. If a SWOT helps to answer the questions, consider providing it as part of the case. STO313 Module Guide 2020-21 Page 8 (The Marking Grid with weighted marks for each marking criteria for Teaching Note will be uploaded in the DLE). Grading Criteria for Case Study/Teaching Note Assignment Case Study 1. The case study is based on a British organisation requiring a turnaround strategy 2. The chosen organisation and the scenario will be original and interesting, and less likely to have been chosen by other students 3. The scenario will be based on a strategic issue 4. The two questions should be (i) original and interesting (ii) allow a range of possible answers/responses (iii) allow theory from the module to be used (iv) unlikely to lead to overlapping content or repetition in answers 5. Good use made of secondary research (and if primary research is used it should be well integrated and suitably used) 6. Suitable and effective structure, style and presentation, and free of language errors 7. The case study should be 1,000 words +/-10% Teaching note 1. The teaching note details multiple possible answers with analysis and evaluation 2. Both answers make use of the literature and theory learnt in the module 3. The case study and teaching note are suitably integrated and sufficient information was given in the case to answer the questions satisfactorily 4. Suitable and effective structure, style and presentation, and free of language errors 5. A minimum of 10 reference sources from academic journals and books 6. The teaching note should be 1,000 words +/-10% Indicative marks 39% or less Fails to meet essential criteria such as no strategic issue framed or does not use literature/theory 40- 49% Meets most of the criteria above but with substantial weaknesses e.g. weak case/teaching note integration, only basic use of theory, multiple answers are not given for each question 50- 59% Meets most of the criteria above but would need several major improvements before it could be issued to a class 60- 69% Meets all of the criteria above but the assignment would still require a number of improvements before it could be issued to a class. Perhaps the choice of organization/scenario lacks originality 70- 79% Meets all of the criteria above but the assignment would require only one or two minor improvements before it could be issued to a class e.g. modification of one question, addition of a theory, improvements to language 80% more or Meets all of the criteria above and could easily be issued to a class STO313 Module Guide 2020-21 Page 9 Assessment 2. Essay: 40% In order to encourage further strategic thinking, you are required to individually write an essay of 1,500 words +/-10%. This must be submitted online via the Moodle-DLE site by 12:00, Wednesday 12th May. Brief It could be argued that the key sources of competitiveness are the resources of companies. Give examples of the resource bases residing within a company of your choice. Which three resources do you believe the company could further develop and leverage in order to further add value? You should be able to describe the types of resources typically resident in firms and apply any appropriate concepts, models and frameworks to help you diagnose these resources. The library has a broad range of electronic resources including electronic databases/searching (e.g. WoK, Zetoc) and electronic journal collections (e.g. BSP, Emerald, Science Direct, Ingenta etc). These can be accessed via the portal. Grading Criteria for Essay Assignment This assessment will take the form of an essay (1,500 words +/-10%, excluding any appendices and references) & contribute towards 40% of the final module mark. You will be marked on your ability to: • Undertake research using a range of appropriate sources (40%); • Analyse, synthesise and critically evaluate information (40%) • Summarise and conclude on the key points (10%); • Present a clear, coherent and well structured essay (10%). Indicative marks 39% or less Fails to meet essential criteria such as company resources not understood or does not use literature/theory 40-49% Meets most of the criteria above but with substantial weaknesses e.g. weak application of theory to support the resource analysis and evaluation 50-59% Meets most of the criteria above but needs several major improvements to generate sufficient insights into the use of resources for competitiveness 60-69% Meets all of the criteria above but the assignment would still require a number of improvements to provide depth of insight 70-79% Meets all of the criteria above but the assignment would require only one or two minor improvements e.g. clarification of specific points, addition of a theory, improvements to language 80% more or Meets all of the criteria above STO313 Module Guide 2020-21 Page 10 Readings There are a large number of strategy books in the library. While all will be of use to you, you should be aware that different writers adopt alternative perspectives on the subject (there are a number of different ‘Schools of Thought’ on the nature of strategy), and this can sometimes lead to confusion. Core Text: The Strategy Pathfinder: Core Concepts and Live Cases (3rd Edition). Duncan Angwin and Stephen Cummings. Wiley, 2017. ISBN: 978-1-119-31189-8 Supplementary Text: Strategy Management (8th Edition). Richard Lynch. Pearson, 2018. ISBN: 978-1-29221140-4 Both texts are available in the library as books and e-books. STO313 Module Guide 2020-21 Page 11 Weekly Reading Wk. Sessions Reading 1 Fri 5 Feb Introduction to Strategy Mintzberg, H. and Lampel, J., 1999. Reflecting on the strategy process. MIT Sloan Management Review, 40(3), p.21. 2 Tue 9 Feb Case Method and Case Assignment Sample Case Assignments 3 Tue 16 Feb Strategic Management Brătianu, C. and Bălănescu, G.V., 2008. Vision, mission and corporate values. A comparative analysis of the top 50 US companies. Management & Marketing, 3(3), pp.19-38. 4 Tue 23 Feb The External Environment Robinson, C.V. and Simmons, J.E., 2018. Organising environmental scanning: exploring information source, mode and the impact of firm size. Long Range Planning, 51(4), pp.526-539. 5 Tue 2 Mar Internal Resources and Competencies Schaupp, M. and Virkkunen, J., 2017. Why a management concept fails to support managers’ work: The case of the ‘core competence of a corporation’. Management Learning, 48(1), pp.97-109. 6 Tue 9 Mar Generic Strategies Growth & Disposal Strategies Teece, D.J., Pisano, G. and Shuen, A., 1997. Dynamic capabilities and strategic management. Strategic management journal, 18(7), pp.509-533. 7 Tue 16 Mar Implementation and Evaluation Kaplan, R.S. and Norton, D.P., 2005. The balanced scorecard: measures that drive performance. Harvard business review, 83(7), p.172. 8 Tue 23 Mar Global Strategy Essay Assignment Cuervo‐Cazurra, A., Mudambi, R. and Pedersen, T., 2018. The boundaries of the firm in global strategy. Global Strategy Journal, 8(2), pp.211-219. Easter Break 9 Tue 20 Apr Maverick Strategies Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne 10 Tue. 27th Apr Innovation Strategy Afuah, A., 1999. Strategies to turn adversity into profits. MIT Sloan Management Review, 40(2), p.99. STO313 Module Guide 2020-21 Page 12 11 Tue. W/C 4th May Effectuation Shrader, C.B., Mulford, C.L. and Blackburn, V.L., 1989. Strategic and operational planning, uncertainty, and performance in small firms. Journal of small business Management, 27(4), p.45. Student Portal / Moodle The Student Portal / Moodle enables you to access your e-mail remotely via the Internet (thereby allowing you to keep in touch / keep on top of your studies wherever you are) and it will also let you access files relating to your course / modules. This module STO313 will be using the system in the following ways to: • provide lecture notes for students; • make announcements relating to the course; and allow submission of the case study assignment. NOTE: Lecture slides will be available on Moodle at least five days before each lecture. Please note that the lecture notes are NOT a summary of the core text. It is important therefore that you attend lectures AND read the recommended pages from the core text. Learning Support You are strongly encouraged to make use of the resources available for learning support within the University. See: http://intranet.plymouth.ac.uk/stuni/learning/intranet.htm This resource includes a guide to referencing. Contacting the Module Leader The module tutor’s e-mails are listed on the front of this document. If you wish to meet outside lesson times, please send an e-mail to arrange an appointment. Please note that students should check their university email on a regular basis, as this is the way in which staff may try and contact you. STO313 Module Guide 2020-21 Page 13 Contacting the Faculty Support Office The Faculty Support Office is there to help with administrative queries and problems e.g. extenuating circumstances. It is located in Room 109, Roland Levinsky Building, next to the main entrance. Opening Hours: 0830 – 1700 Mon - Thurs (Fridays 0830 – 1630) Tel: 01752 585020 Email: [email protected] Academic Offences Academic offences, including plagiarism, are treated very seriously in the Plymouth Business School. A student who is proven to have committed an academic offence may be placing his or her degree in jeopardy. It is your responsibility as a student to make sure that you understand what constitutes an academic offence, and in particular, what plagiarism is and how to avoid it. Read through the information in the Faculty Undergraduate Programmes Handbook under ‘Assessment and Examinations Offences’, including the penalties for offences. If you still do not understand what constitutes an academic offence, please consult the Faculty Support Office, your personal tutor or your programme manager. Study Skills If you require advice on study skills e.g. note taking, essay writing, presentations, exam preparation etc., one to one sessions and workshops are available from the Learning Development Team, or alternatively you can print off their study guides from the Learning Development portal pages - https://www.plymouth.ac.uk/studentlife/services/studentservices/learning-development. The Learning Development Team can be contacted via email ([email protected]), telephone (01752) 587676, or alternatively you can make an appointment by going to the information desk in the 'Gateway', Roland Levinsky Building.