| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Strategic Management |
| Unit ID: | BUMGT5976 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (At least 120 credit points from course MN9 or ML9 or MK9 or MM9 or MM9.EL or MM9.HSM or MM9.IB or PQ9) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 080301 |
| Other Change: | |
| Brief description of the Unit |
In today’s increasingly complex, dynamic and uncertain environment, businesses are continuously looking for new means of gaining and maintaining sustainable competitive advantage. Strategic management concerns the long-term direction and scope of the business. Through case studies and stories about successful enterprises, in this unit students will learn about the value and application of business strategy. The unit equips students with concepts, frameworks, tools and skills needed for developing and implementing strategic decisions to gain and sustain superior performance in both traditional and emerging markets/industries. It focuses on building the capacity of current and future managers by identifying sources of superior business performance. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: No |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | | | | | Intermediate | | | | | | | | Advanced | | | | |  | |
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| Learning Outcomes: |
| Knowledge: |
| K1. | Recognise the internal and external national and international factors influencing business competitiveness and the key roles of strategy, resources and capabilities to gain sustained competitive advantage. |
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| K2. | Develop strategic thinking for formulating and implementing strategies that will enable an organisation to achieve competitive advantage and sustainability. |
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| K3. | Evaluate the sources and routes to superior performance and judge the appropriateness of the tools and techniques for developing strategies that help businesses to grow and create economic, social and ecological value. |
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| K4. | Develop management skills and knowledge to examine strategic management challenges from strategy, change and learning perspective. |
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| Skills: |
| S1. | Apply theoretical knowledge within diverse organisational and environmental contexts to build business capacity to gain competitive advantage. |
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| S2. | Research and synthesise industry, macro and global environment related secondary data and interpret the findings to make informed strategic decisions. |
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| S3. | Recognise the limitations of theoretical and practical concepts in strategic management and explain the implications of those limitations. |
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| S4. | Cooperatively undertake critical and systematic evaluations of relevant theories, concepts and practices and communicate the findings with clarity to specialist and non-specialist audiences. |
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| S5. | Critically evaluate the sustainable competitive advantage (and its underlying drivers) for an organisation. |
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| Application of knowledge and skills: |
| A1. | Adapt and apply strategic management knowledge and skills in diverse and novel organisational settings. |
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| A2. | Apply proprietary tools and techniques to develop strategic options that an enterprise can use to grow and create shareholder value in the context of a changing global and local environment. |
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| A3. | Integrate ethical, social and environmental perspectives into the organisational strategies. |
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| Unit Content: |
•Opportunity Analysis Strategic development process
•Business model design
•Design thinking
•Hypothesis-driven innovation - lean startup & agile innovation methodologies
•Value proposition canvas, the lean canvas
•Competitive Analysis: "outside-in" strategic planning process
•Competitive Analysis: "inside-in" strategic planning process, Blue Ocean Strategy
•Going Global: Strategies for competing in international markets
•Transformational innovation: sustaining, disruptive and radical innovations
•Managing paradox and contraindications
•Lean business plan: financial, ethical and regulatory environments |
| Graduate Attributes: |
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K3, K4
S3,
A1
| Assess core principles and theories and apply associated analytical frameworks | Case Analysis | 10-20% | | 2. | K1, K2, K3, K4,
S1, S2, S4, S5
A1, A2, A3
| Group Presentation - pitching your business venture and making strategic choice | Group Presentation | 30-40% | | 3. | K1, K2, K3, K4
S1, S2, S4, S5
A1, A2, A3
| Report: Business model innovation: Opportunity and competitive analysis using a range of approaches | Assignment/Report/Essay | 40-50% |
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