| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Strategic Management |
| Unit ID: | BUMGT6976 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (At least 120 credit points from program MM4 or MM9 or MM9.EL or MM9.HSM or MM9.IB or PQ9) |
| Co-requisite(s): | Nil |
| Exclusion(s): | (BUMGT5976) |
| ASCED: | 080301 |
| Other Change: | |
| Brief description of the Unit |
In today’s increasingly complex and changing environment that is filled with uncertainty, businesses are continuously looking for better ways to gain and maintain sustainable competitive advantage. Strategic management concerns the long-term direction and scope of the business and draws from business fundamental knowledge, e.g. marketing, finance and economics. Through case studies and stories about successful businesses, students learn about the importance of strategy in any business. The unit equips students with the 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. The unit 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: | |
| Supplementary Assessment:No |
| Supplementary assessment is not available to students who gain a fail in this Unit. |
| 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 the 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 businesses’ 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: |
•The concept of strategy
•Tools of strategic management: goals, values and performance
•The analysis of industry and external environment
•The analysis of internal environment of the firm: resources and capabilities
•Business strategies in different industry contexts
•Corporate strategies
•Strategies for competing in international markets
•Building capacity for strategy execution
•Strategy Implementation
•Corporate culture and strategic leadership
•Ethics and Corporate Social Responsibility |
| 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 | Analyse firm, organisation or industry using a range of approaches | Assignment/Report/Essay | 30-40% | | 3. | K1,K3,K4 S3,S5 A2,A3 | Review and analyse material across the unit | Exam/Case Preparation | 40-50% |
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