Strategic Management

This subject has the following teaching availabilities in 2011:

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.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. In a strategic management simulation, 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.

• 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.

2-hour end-of-semester examination (50%) and assignments not exceeding 6000 words (50%)

This subject is not available as a breadth subject.

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.