Description:
The Strategic Management unit is designed to enable students to integrate concepts from their studies in the core and professional strand units. It will introduce students to the study of Strategic Management within the organisational context. It will extend and integrate the basic concepts of Management, Marketing, Operations management, Information Systems and Financial Strategic Planning.
The unit is designed to help participants to become acquainted with elements of the organisational strategy exploring the context of strategy, internal & external environmental scanning, strategy formulation and issues relating to the implementation of strategy. The unit also includes how the various functional strategies integrate and interact to form the organisational strategy. It will provide participants with competencies, skills and the understanding necessary for implementing and managing the strategy processes that aims to ensure the long-term viability and success of an organisation or enterprise..
Development of graduate attributes
Graduates from the Bachelor of Business program are expected to have knowledge, skills and abilities (KSA) on three different dimensions. Each subject in your course contributes in some way to the development of the Stott's Graduate Attributes which you should demonstrate by the time you complete your course.
Professional
GA1 Graduates have an understanding of business that allows them to identify and develop business functions and understand their effect on business outcomes
GA2 Graduates understand the professional working environment and have developed an awareness of business ethics that is consistent with the Australian business culture.
GA3 Graduates can identify and solve common problems in business using tools available to them
Personal
GA4 Graduates can develop their KSAs to meet the demands of the workplace, their chosen career path and a changing environment
GA5 Graduates have developed interactive skills to work well in a multicultural environment
GA6 Graduates can successfully work in their chosen profession and have the necessary knowledge and skills for an entry/intermediate level position after graduation.
Academic
GA7 Graduates have developed academic skills and attributes necessary to undertake research, comprehend and evaluate new information, concepts and evidence from a range of sources;
GA8 Graduates have recognised potential shortcomings in their KSAs and have developed the tools necessary to engage in self directed life long learning to address this.
GA9 Graduates have an understanding in how to apply knowledge gained in their degree into the workplace
Learning Outcomes:
In this subject the student develop and analyse the implementation of company strategies with a particular emphasis on small and medium sized businesses.
At the completion of this subject a student should be able to:
1. understand and examine the role of the vision and mission statements, and the internal and external organisational environment and examine their role in developing the organisational strategy;
2. gain an insight into the various processes and stages of strategy formulation, implementation, and evaluation;
3. apply the skills and competencies necessary to formulate the strategies that result in sustainable competitive advantage;
4. analyse and choose appropriate strategic initiatives at the corporate, business and functional levels of an organisation;
5. become acquainted with the impact of social, ethical, behavioural and international operations' issues in strategic management;
6. appreciate the significance and relevance of strategic management in a ‘not for profit' business environment.
CONTENT
Topics will include:
- The nature of strategic management;
- Environmental scanning and assessment;
- Internal scanning and analysis;
- Types of organisational and functional strategies;
- Organisational strategy analysis and choice;
- Strategy implementation;
- Strategy review and evaluation;
- Strategic management and social responsibility;
- Strategic management and managing technology and innovation.
In this unit there are five (5) separate but coordinated assessment tasks
1. All reports must be typed written with proper margin and line spacing.
2. All assignments submitted must clearly indicate the student names and student number on the front cover sheet. .
Assessment Tasks 1 & 2
Situational Analysis - this is an INDIVIDUAL student task
This comprises TWO assessments
1. Preparation for and submission to Moodle in which you are required to demonstrate significant progress towards the finalisation of the Situation Analysis Report. Students will be given details during the second week for submission of a one page report
The Situation Report.
Word Limit 1500 words
What you are required to do;
You will be supplied on Moodle with initial industry research on the Australian Aged Care Industry and some information on the company, assigned to you by the lead lecturer, for which you are to develop a strategic plan.
You will need to supplement this research with your own research.
Students are required to undertake a detailed analysis of the chosen market in Australia and the external factors affecting that industry. The analysis should cover market structure, segmentation, distribution channels, competitors and trends for the total market. In addition you will also be required to undertake an internal analysis of your chosen company in order to identify their core capabilities and competencies and any competitive advantage they may possess. From this analysis you will highlight the key issues facing the industry and the company and put forward an initial range of potential future strategies which the company may consider.
The structure of your report headings will be
- Executive Summary
- Market Size & Trends
- Financial and Corporate Performance
- SWOT & Competitive Advantage
- Strategic Options
- Possible Recommendations
This comprises TWO assessments
1. Preparation for and participation in an online discussion forum in which you are required to demonstrate significant progress towards the finalisation of the Final Strategic Recommendations Report. Students will be given the time and log in details during the second week for participation during the week 5 forum
2. Final Strategic Recommendations Report.
What you are required to do;
Based on the feedback received on your Situation Analysis Report you will now proceed to a Final Strategic Recommendation for your chosen company in which you will be required to detail not only what your strategic recommendations are but also what specific steps at the business and corporate level are necessary to implement those strategies as well as how you will monitor and control the performance of the company as it goes forward.
You will incorporate in your report those parts of your Situation Analysis as are appropriate to produce a full strategic report. This will mean that you may cut and paste from your initial report and Turnitin Similarity levels will be adjusted to accommodate this.
The structure of your report headings will be
- Executive Summary
- Market Size & Trends
- Financial and Corporate Performance
- Strategic Options
- Final Recommended Strategy
- Implementation of Final Strategy
- Monitoring and Control of Future Performance