Strategic Management

This subject has the following teaching availabilities in 2008:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This subject is about the strategic management process - how managers develop and implement strategies in organisations - and how that process itself is changing. It focuses on three main issues: (1) how different industry conditions support different types of strategies, (2) how industry conditions change and the attendant implications for strategic management, and (3) how organisations develop and maintain capabilities that lead to sustained competitive advantage. As members of a top management team, students are required to evaluate situations and make decisions, access outcomes, and compete with other management teams for resources, opportunities and markets. Each team develops a strategy for its firm and applies the subject's concepts within a practical decision-making framework. Students have an opportunity to see the interaction of a firm's production, marketing, R&D, human resources, and financial operations and observe the impact of key decisions on business performance within a competitive market.

This subject is not available as a breadth subject.

• Explain the dynamic nature of business and the role of strategy in generating and sustaining a competitive advantage;
• Analyse relevant information and evaluate the competitive environment faced by organisations;
• Identify and evaluate business strategies and explain why and how a particular course of action will provide a competitive advantage.
• Analyse the capacity for strategy implementation within an organisation given an understanding of structure, culture, systems, governance mechanisms and stakeholder relationships.

On successful completion of this subject, students should have improved the following generic skills:

• Problem solving skills and critical thinking, which should be fostered in the seminar program where students will apply theoretical material to actual case studies.
• Collaborative learning and teamwork, which should be enhanced through exercises, role-plays, and simulations that are incorporated into the seminar program.
• Evaluation, interpretation and analysis of data.
• Accessing data and other research information from a range of sources, which should be facilitated through the major assignment and preparation for the exam;
• Developing oral and written communication skills.