EPOKA UNIVERSITY
FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES
DEPARTMENT OF BUSINESS ADMINISTRATION
COURSE SYLLABUS
2021-2022 ACADEMIC YEAR
COURSE INFORMATIONCourse Title: STRATEGY AND MANAGEMENT |
| Code | Course Type | Regular Semester | Theory | Practice | Lab | Credits | ECTS |
|---|---|---|---|---|---|---|---|
| BUS 502 | B | 2 | 3 | 0 | 0 | 3 | 7.5 |
| Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature) | NA |
| Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: | Dr. Esmir Demaj edemaj@epoka.edu.al , Thursday, 09:00-11:30 |
| Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: | NA |
| Teaching Assistant(s) and Office Hours: | NA |
| Language: | English |
| Compulsory/Elective: | Elective |
| Study program: (the study for which this course is offered) | Professional Master in Business Administration |
| Classroom and Meeting Time: | E-212, Tuesday 18:00-21:00 PM |
| Code of Ethics: |
Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline" |
| Attendance Requirement: | min 60% |
| Course Description: | The goal of this course is to inform and familiarize students with what strategic management means to today’s global world. Often people are unaware of how the strategy-making process affects them. We are all used to going to work and going into companies such as restaurants, stores, and banks, and buying the goods and services we need to satisfy our many needs. However, the actual strategic management activities and processes that are required to make these services available to us commonly go unappreciated. Similarly, we might know that companies exist to make a “profit,” but what is profit, how is it created, and what is profit used for? Moreover, what are the actual strategic management activities involved in the creation of service, and why is it that some companies seem to be more effective and more “profitable” than others? Hence, this course has been structured to address these issues. The goal is to explain in a clear, comprehensive, but concise way why strategic management is important to people, the companies they work for, and the society in which they live. Consequently, to provide the overall “big picture” of what strategic management is, what strategic managers do, and how the strategy-making process affects company performance. The course provides a focused, integrated approach that gives students a solid understanding of the nature, functions, and main building blocks of strategic management. Despite of the schematic view of Strategic Management, the course offers also integrated materials from influential scholars such as Peter Drucker and Henry Mintzberg in order to develop a critical thinking approach on students. |
| Course Objectives: |
|
BASIC CONCEPTS OF THE COURSE
|
| 1 | Strategic Planning |
| 2 | Strategy Formulation |
| 3 | Strategy Implementation |
| 4 | Strategy Evaluation |
|
COURSE OUTLINE
|
| Week | Topics |
| 1 | Course Introduction. Syllabus Review Strategic management is the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives. Strategic management focuses on integrating management, marketing, finance and accounting, production and operations, research and development, and information systems to achieve organizational success. The purpose of strategic management is to exploit and create new and different opportunities for long range planning, in contrast, tries to optimize for tomorrow the trends of today. The strategic management process consists of three stages: strategy formulation, strategy implementation, and strategy evaluation. |
| 2 | Chapter 1_The Nature of Strategic Management & Chapter 2_The Business Vision and Mission (p4 &p39) In strategic management, nine key terms are defined such as competitive advantage, strategists, vision and mission statements, external opportunities and threats, internal strengths and weaknesses, long term objectives, strategies, annual objectives and policies. Strategic management allows an organization to be more proactive than reactive in shaping its own future, it allows an organization to initiate and influence activities. All firms have a strategy, even if it is informal, unstructured, and sporadic. Every organization has a unique purpose and reason for being, which is reflected in vision and mission statements. The nature of a business company mission or vision can represent either a competitive advantage or disadvantage for the firm. Well designed vision and mission statements are essential for formulating, implementing and evaluating strategy. |
| 3 | Chapter 3_The External Assessment(p59) This chapter examines the tools and concepts needed to conduct an external strategic management audit, called environmental scanning or industry analysis. The purpose of an external audit is to develop a finite list of opportunities that could benefit a firm as well as threats that should be avoided. This chapter provides a framework for collecting and evaluating economic, social, cultural, demographic, environmental, political, governmental. Legal, technological and competitive information. A major responsibility of strategists is to ensure development of an effective external audit system. The external audit approach described in this chapter can be used effectively by any size or type of organization. |
| 4 | Chapter 4_The Internal Assessment (p89) This chapter focuses on identifying and evaluating a firm’s strengths and weaknesses in the functional areas of business, including management, marketing, finance. Accounting, production, operations research, management information systems. Also, strategic implications of important functional area concepts are explained. In addition, this chapter describes the process of performing an internal audit. A strategic management audit of a firm’s internal operations is vital to organizational health. Many companies still prefer to be judged solely on their bottom line performance, while it is essential that strategists identify and evaluate internal strengths and weaknesses to effectively formulate and choose among alternative strategies. |
| 5 | Chapter 5_Strategies in Action (p129) In this chapter characteristics of objectives and benefits of having clear objectives are identified and discussed. Through involvement in strategic management activities, managers and employees achieve a better understanding of an organization’s priorities and operations. Long term objectives represent the results expected from pursuing certain strategies, which represent the actions to be taken to accomplish long term objectives. Objectives should be quantitative, measurable, realistic, understandable, challenging and obtainable. Diversification strategies are discussed in this chapter, which are related to the two general types, related diversification and unrelated diversification. In addition to integrative, intensive and diversification strategies, organizations also could pursue defensive strategies such as retrenchment, divestiture or liquidation. |
| 6 | Chapter 6_Strategy Analysis and Choice (p167) In this chapter strategy analysis and choice process are described. Strategy analysis and choice largely involve making subjective decisions based on objective information. This chapter introduces important concepts that can help strategists generate feasible alternatives, evaluate those alternatives, and choose a specific course of action. Behavioral aspects of strategy formulation are featured, including culture, politics, ethics and social responsibility considerations. Modern tools for formulating strategies are described, and the appropriate role of a board of directors is discussed. The important strategy formulation technique, which can be integrated into a three stage decision making framework, is also discussed. The essence of strategy formulation is an assessment of whether an organization is doing the right things and how it can be more effective in what it does. Objectives and strategies should be consciously developed and coordinated and should not merely evolve out of day to day operating decisions. |
| 7 | Chapter 7_Implementing Strategies: Management, Operations, and Human Resource Issues (p205) Implementing strategy affects an organization from top to bottom, including all the functional and divisional areas of a business. This chapter focuses on management, operations and human resource issues most critical for successful strategy implementation. The reasons why annual objectives are essential for effective strategy implementation are discussed, why policies are essential for effective strategy implementation as well. We discuss the need to match a firm’s structure with its strategy, we identify, diagram, and discuss types of organizational structure. In a single word, strategy implementation means change, and it is widely agreed that the real work begins after strategies are formulated. Successful strategy implementation requires support of, as well as discipline and hard work, from motivated managers and employees. |
| 8 | Practical Sessions. Project Presentations |
| 9 | Practical Sessions. Project Presentations |
| 10 | Practical Sessions. Project Presentations |
| 11 | Chapter 9_Strategy Review, Evaluation, and Control (p279) This chapter presents a framework that can guide managers’ efforts to evaluate strategic management activities, to make sure they are working, and to make timely changes. Guidelines are presented for formulating, implementing, and evaluating strategies. We discuss the strategy evaluation process, criteria, and methods used. We identify and describe characteristics of an effective strategy evaluation process. We also explain the role of auditing in strategy evaluation. Effective strategy evaluation allows an organization to capitalize on internal strengths as they develop, to exploit external opportunities as they emerge, to recognize and defend against threats, and to mitigate internal weaknesses before they become detrimental. |
| 12 | Chapter 10_Business Ethics, Social Responsibility, and Environmental Sustainability (p305) Business ethics can be defined as principles of conduct within organizations that guide decision making and behavior. In this chapter, we explain why good ethics is good business in strategic management. We explain why whistle blowing, bribery, and workplace romance are strategic issues. In this chapter is also discussed why social responsibility and policy are key issues in strategic planning. Business ethics, social responsibility and environmental sustainability are interrelated and key strategic issues facing all organizations. |
| 13 | Chapter 11_Global and International Issues (p329) In this chapter the nature of doing business globally, including language and labor union issues are discussed. We also explain the advantages and disadvantages of doing business globally. The global challenges that firms face, and why this is a strategic issue are discussed. Global considerations impact virtually all the strategic decisions. The boundaries of countries no longer can define the limits of our imaginations. Businesses search for new opportunities beyond their national boundaries for centuries to come. There has never been a more internationalized and economically competitive society than today’s model. Success in business increasingly depends on offering products and services that are competitive on a world basis. |
| 14 | Final Review |
| Prerequisite(s): | Na |
| Textbook(s): | David, Fred & David, Forester (2020). Strategic Management: Concepts and Cases - A Competitive Advantage Approach. 16th ed. Pearson Education Inc. ISBN 978-0134167909 |
| Additional Literature: | Course Notes, Case Studies |
| Laboratory Work: | NA |
| Computer Usage: | NA |
| Others: | No |
|
COURSE LEARNING OUTCOMES
|
| 1 | Actively think about and engage in strategic management issues and decision making |
| 2 | Designing and formulating effective strategies |
| 3 | Understanding the relation between mission, strategy, structure, and performance |
| 4 | Implementing efficiently the strategy |
| 5 | Creating a sustainable competitive advange |
| 6 | Navigate on change and complexity |
| 7 | Building resources, capabilities, and competencies |
| 8 | Becoming a critical and systems thinker on dealing with yourself, employees, and stakeholders |
|
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution) |
| No | Program Competencies | Cont. |
| Professional Master in Business Administration Program | ||
| 1 | Integrate tools and concepts from business and economics to solve business problems. | 5 |
| 2 | Inspire an open minded-attitude through continuous learning and team-work. | 4 |
| 3 | Demonstrate ethical, social, and legal responsibilities in organizations. | 4 |
| 4 | Critically evaluate business case studies. | 5 |
| 5 | Manage business operations effectively and efficiently. | 4 |
| 6 | Report project results. | 4 |
|
COURSE EVALUATION METHOD
|
| Method | Quantity | Percentage |
| Project |
1
|
40
|
| Final Exam |
1
|
50
|
| Other |
1
|
10
|
| Total Percent: | 100% |
|
ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)
|
| Activities | Quantity | Duration(Hours) | Total Workload(Hours) |
| Course Duration (Including the exam week: 16x Total course hours) | 16 | 3 | 48 |
| Hours for off-the-classroom study (Pre-study, practice) | 16 | 5 | 80 |
| Mid-terms | 0 | ||
| Assignments | 3 | 5 | 15 |
| Final examination | 1 | 20 | 20 |
| Other | 1 | 24.5 | 24.5 |
|
Total Work Load:
|
187.5 | ||
|
Total Work Load/25(h):
|
7.5 | ||
|
ECTS Credit of the Course:
|
7.5 | ||
|
CONCLUDING REMARKS BY THE COURSE LECTURER
|
|
Attendance: Students should attend at least 60% of the classes. However, students should consider possible loss of specific evaluation in a certain day they are missing. Exam content: Content for exam questions will be developed from class sides, discussions, assignments and student presentations. Academic integrity: Cheating,plagiarism or any other type of academic dishonesty is not tolerated. Each student is responsible for understanding the Epoka Unversity Student Discipline Regulation and Exam Rules. Grading: Student grade is not subject to negotiation. In case of perceived human error by the lecturer side, the student should submit their concern in writing and ask for reevaluation of the exam paper/assignment/project. |