Business Policy (2021)

Course name: BUSINESS POLICY

 Course code: 3102

Level of course: 111 Semester

Credit units: 4 CU

Brief course description

This course will enable students to put together what they have learnt from other subjects into practical aspects when making different choices of decisions. Each manager is expected to make decisions for the corporations that they manage on a daily basis.

Objectives

1. To understand the various management concepts used in strategic management.

2. Explore the meaning of organizational strategy and competitive strategies.

3. Investigate the process by strategies are formulated within the organization.

4. Measure organizational performance against set objectives and also in comparison to the industry competition.

5. To understand the basis and functions of various strategic management models.

Learning outcomes

By the end of this course students should be able to:

1. Describe the characteristics of strategic decisions.

2. Define what is meant by strategy and strategic management.

3. Explain how strategic priorities vary by level in terms of corporate, business and operational.

4. Identify key structural drivers of change and the different impact on organizations.

5. Describe the most important organizational processes, systems, performance targets and the circumstances where they will be most appropriate.

Detailed course description (contents)

Introduction (7 hours)

     -What is strategic management?

     -Definition of terms.

     -Strategic managers and types of businesses

     -Strategic management VS management

Strategic management (6 hours)

     -Basic resources of strategic management

     -Strategic planning and strategic direction

     -Corporate planning

The corporate environment (6 hours)

     -Types of environments

     -Factor markets

     -Analysis methods commonly used: SWOT/SWOC analysis

Decision making (7 hours)

     -Challenges decision makers encounter

     -Flexibility in thinking

     -Types of decisions

     Strategy alternatives (6 hours)

     -Types of strategies

     -Combination strategies

     -Alternatives and performance

Analysing resources and capabilities  (6 hours)

    -Objectives

    -Research and development

    -Functional strategies

Evaluating and choosing policy alternatives (8 hours)

    -Decision making under certainty

    -Uncertainty and risk

    -Characteristics of the decision making process.

    -Freewheeling opportunism

Competitor analysis (7 hours)

   -Identifying competitors.

   -Assessing competitors

   -Selecting competitors to attack and avoid

   -Basic competitive strategies

Business assessment  (7 hours)

     - Identify non-functional aspects.

     -Benchmark according to the competitive forces.

     -Provide a general overview of the corporate performance.

Mode of delivery

Lectures

Case studies

Group assignments

Mode of assessment

 Group work, individual assignments and tests 50%

 Final exams 50%

References

Gerry, J., and Kevan, S. (2002) Explaining corporate strategy. 6^th edition. USA: Financial Times Prentice Hall

Philippe, L. (2010) Global management. London: University of Greenwich.

Richard, L. (1997)  Corporate strategy. 7th edition. USA:  Prentice Hall

John, A. P., and Richard B. R J. (2004) Formulation, implementation and control of competitive strategy. 11^th edition. USA: Prentice Hall, Inc