MGMT304 - Strategic Management
Prerequisites MGMT213 Organisational Analysis Or HRMG204 Organisational behaviour
Teaching Organisation 3 hours per week for 12 weeks or equivalent
Strategic Management is an advanced subject which draws on students’ previous knowledge of functional business areas, such as accounting, marketing, management, operations, HRM, as well as economics, in order to create new, higher level knowledge of organisational strategy and managing a company for achievement of long-term company objectives competitive advantage and overall business success. The unit is designed to introduce students to the processes of strategic analysis, strategy development, implementation and evaluation. It will help learners understand the importance and the sources of competitive advantage, how to gain and retain a competitive edge in an increasingly dynamic and competitive world, while protecting the interests of all members of the society, in line with the principles of the Common Good. This knowledge is essential for future business executives and business leaders, as it helps realise the crucial importance of setting the vision, mission and goals of the organisation and putting in place the necessary strategies to attain these for the benefit of all stakeholders. The subject aims to explain why some competitors in the same industry, with resources comparable to other industry rivals can achieve much better results than others. The overarching aim of the unit is to build knowledge of how to manage organisations for long-term success while consistently creating value to consumers and following ethical business practices.