Fundamentals of Strategy

BMAN24492 Fundamentals of Strategy 10 Semester 2 Undergraduate Level 2 Karl Taeuscher Unit coordinator 1 FHEQ level (Framework for Higher Education Qualifications) ' Middle part of Bachelors ' European Credit Transfer & Accumulation System Rating : 5.0 This course provides a foundation for understanding and appreciating the role of firms’ strategic management. The goal of strategic management is to develop and defend a competitive advantage that allows a firm to sustainably outperform its competitors and achieve superior returns. Strategic management deals with decisions that fundamentally affect a firm’s direction as well as the effective implementation of these decisions. This includes decisions about the market(s) in which a firm competes, the value proposition and business model it chooses to create value to customers, how it positions itself vis-a-vis its competitors, and decisions about the unique resources and capabilities that allow the firm to sustainably defend its position. This course is designed to help students understand the most important strategic decisions, and learn to effectively apply practical tools to confidently address these strategic decisions. This course provides a foundation for understanding and appreciating the role of firms’ strategic management. The goal of strategic management is to develop and defend a competitive advantage that allows a firm to sustainably outperform its competitors and achieve superior returns. Strategic management deals with decisions that fundamentally affect a firm’s direction as well as the effective implementation of these decisions. This includes decisions about the market(s) in which a firm competes, the value proposition and business model it chooses to create value to customers, how it positions itself vis-a-vis its competitors, and decisions about the unique resources and capabilities that allow the firm to sustainably defend its position.  This course is designed to help students understand the most important strategic decisions, and learn to effectively apply practical tools to confidently address these strategic decisions. 1.    Develop an understanding of how firms gain and sustain competitive advantages; 2.    To help students understand how managers make strategic decisions in practice; 3.    To develop students' strategic thinking and decision-making skills 4.    To collaboratively analyse and develop strategies for real-world firms On successful completion of the course unit, students should be able to:<ul><li>Explain how firms can achieve a competitive advantage</li><li>Make informed decisions about firms' strategic choices with the objective to improve their performance</li><li>Analyze strategic situations and make predictions about competitive dynamics</li><li>Develop teamwork skills to collaboratively analyse and develop strategies</li></ul> <ul><li>Understand how firms achieve competitive advantage.  </li><li>Understand and evaluate strategic options for improving firm performance.  </li><li>Analyse strategic environments.     </li></ul> <ul><li>Synthesize insights across diverse analyses to gain in-depth insights and derive strategic decisions.   </li></ul> <ul><li>Apply strategic management frameworks to analyze business cases.  </li><li>Develop strategic recommendations based on rigorous analysis.</li></ul> <ul><li>Communicate strategic analyses effectively in written form.  </li><li>Collaborate in teams to solve complex business problems.   </li></ul> In this course, you strengthen your understanding of consumers' needs and firms' approaches to satisfy these needs. You will develop an understanding of what it takes to develop products that customers want and how to successfully commercialize such products. You further understand how firms can develop resources and capabilities to develop a competitive advantage. Analytical skills By the end of the course, students will have a larger set of analytical tools and will have gained more experience in analysing real-world business cases. Group/team working In this course, you learn how to work collaboratively with others in order to achieve a goal. As an individual team member, you will learn how to take on a role within your team, take responsibility for the team's progress, contributing your ideas, and communicate effectively. Problem solving In this course, you improve your ability to identify and evaluate the necessary information to develop informed solutions. You will learn a systematic approach to solving the problems you face. Other The course helps you to develop and improve skills regarding the effective use of your time and workload. You will need to develop a systematic approach to plan and structure your assignment project and follow through on your plan. • Overview and introduction to strategy • Key concepts of strategy • Value creation • Business models • Strategic positioning • Resources and capabilities • External environment • Identifying strategic options • Evaluating strategic options • Review & Summary  Lectures, plus self-directed study by students.  Total study hours: 100 hours split between lectures, self-study and preparation for classes and coursework. 0 Other 100% Formative Assessment:In-class case discussions (During lectures)Summative Assessment:Coursework 100% - essay (group-based)  Written feedback on coursework assignment and verbal feedback in lectures and via Blackboard discussions. Core for BSc IBFE.Pre-requisites: None Co-requisites: None Dependent course units: BMAN33000 Business Analysis Project N Fisher, Greg; Wisneski, John E.; Bakker, Rene M.. 2020. Strategy in 3D. Oxford: Oxford University Press. Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. 2016. Strategic Management, 12th edition, Boston, MA: Cengage Learning. Lectures 20 0 80 Programme Restrictions: Core for International Business, Finance and Economics (IBFE)For Academic Year 2025/26Updated: March 2025Approved by: March UG Committee