The aim of this module is to provide students with a sound understanding of what it means for an organisation to develop and implement a strategy that enables it to achieve and sustain competitive advantage. They learn to evaluate critically how the processes of strategic management assist firms in major corporate and business decisions relating to the scope, scale and direction of an organisation’s activities. Students learn how to identify and analyse strategic challenges and opportunities, and to develop, evaluate, and select recommendations for implementable strategic actions. Using a case-based approach, the module encourages students to put themselves into the shoes of managers who are faced with strategic dilemmas or underexploited opportunities. They are then given a range of approaches, frameworks and methods in order to analyse and understand these challenges on a deeper level, and develop meaningful strategic options. The module draws on both behavioural and econo mic perspectives on strategy. It aims to make students aware of central theories and debates in the strategy literature (e.g., the resource-based view of the firm, value creation and value appropriation strategies, theories of competitive positioning, the notion of the boundaries of the firm). It also helps students to develop a conceptual understanding of resilience and an awareness of strategies for coping with disruptive change. Furthermore, the module takes a critical approach, in that it provides opportunities to reflect on the purpose of a business and the effects of strategic actions on different stakeholder groups .

(LO1) Define strategy and trace its development as a business discipline, with particular reference to the broadening scope of the field from positioning, resource-based approaches, and strategies for coping with disruptive change.

(LO2) Identify key elements of strategic management, from mission through to implementation and critically evaluate how the process of strategic management assists organisations in major corporate and business decisions relating to the scope, scale and direction of an organisation's activities.

(LO3) Analyse an organisation and identify its strategic strengths and weaknesses.

(LO4) Understand the notions of value creation and strategic prioritising approaches derived from it.

(LO5) Develop a critical awareness of the key issues in international business and management, demonstrating awareness of a range of perspectives of the global economy, the inter-relationships between companies internationally, and the global nature of strategy.

(LO6) Analyse markets and industries using a variety of strategic management approaches, while understanding the limitations of those approaches.

(LO7) Develop a comprehensive understanding of the role of ethical dilemmas, corporate social responsibility and sustainability issues in strategic management and the impact this has on strategy.

(S1) Adaptability. Use of multiple cases and examples. Students need to switch from one problem set to the next quickly.

(S2) Problem solving skills. Each case involves a set of complex problems that need to be addressed.

(S3) Numeracy. The module involves a heavy emphasis on empirical analyses in the context of strategic questions.

(S4) Commercial awareness. Solutions are assessed with respect to the question of whether they are commercially viable.

(S5) Teamwork. The presentation is held by diverse teams (in terms of nationality, gender, etc.)

(S6) Organisational skills. The module has tight deadlines. The group presentation requires good organisational skills.

(S7) Communication skills. Cases are discussed interactively and presented by groups. Students need good written communication skills for their assignments.

(S8) IT skills. Use of presentation software and spreadsheet packages for problem solving.

(S9) International awareness. The module discusses case studies of international companies.

(S10) Lifelong learning skills. Nature of strategy requires application to real-life settings.

(S11) Ethical awareness. Ethical implications of strategic decision-making situations are discussed.

Online Discussions x 28 hours (scheduled)
The learning and teaching strategy is founded upon the principles established through the MBA programme (see Section 6 of the Thoroughbred Horseracing Industries MBA Programme Specification). This module will include 28 hours of directed learning delivered online using both synchronous and asynchronous methods. The teaching will use a number of digital collaboration methods such as: online classrooms; online discussion boards; podcasts; blogs; video-blogs; video-presentations; and online simulations of decision environments and cases.

Online Discussions x 10 hours (unscheduled, i.e. time spent away from the timetabled sessions but directed by the teaching staff)

Self-directed learning x 62 hours
Self-directed learning hours will be used by students to ensure that requisite reading is undertaken, preparation for online classes andpresentations, and for completion of assessed and non-assessed work that will aid and enhance the students’ own learning experience.

What is strategy?
Definitions and scope;
Trade-offs;
Exercising judgement.

Identifying and selecting business opportunities:
Business level strategy, business models, resources and capabilities;
Generic competitive strategies.

Growing the business:
Competitive landscape analysis and strategic positioning;
Diversification;
Internationalisation strategies.

Changing the business:
Creative destruction, innovation and disruption.

The complex organisation:
Managing change;
Strategic leadership.