STM FBM BUT smanP Acad. year 2018/2019 Summer semester 5 credits
Strategic management in the market economy and competitive environment is crucial aspect of company success. Decision about strategy, if selected strategy should lead company to the required target, has to be based on solid strategic analysis. Only on this base management can generate possible solutions, choose a and implement optimal variant. Within the process of strategic management managers of company consider factors like available resources, mission and goals, eternal and internal environment of company. Strategy created and understood in this way can be good base of the competitiveness of company.
Language of instruction
Subject specific learning outcomes and competences
Students will have a clear idea of strategic management process and principals of strategic thinking. Students will be made familiar with analytical tools for strategic analysis of external and internal factors. Students will learn method of formulation of strategy based on hierarchical strategy structure - corporate, business, functional and horizontal strategy. Students learn as well methods of selection, realization and evaluation of strategy.
The course objective is to make students familiar with strategic management process in market and competitive environment. The course is focused on explanation of analytical tools and possibility of their application and on formulation of strategy and its realization.
Prerequisite kwnowledge and skills
Students are expected to have basic knowledge of methods used in planning, organizing, stimulation and control. They have to understand basic function of company. Knowledge of basic marketing methods is required.
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- HITT, M.A. - IRELAND, R.D. - HOSKISSON, R.E. Strategic Management - Competitiveness and Globalization: Concepts. 6th ed. South-Western College Pub, 2004. 544 p. ISBN 0324275307
- GRANT, R.M. Contemporary strategy analysis. 6th ed. Blackwell Publishing, 2008. 482 p. ISBN 978-1-4051-6309-5
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- VODÁČEK, L. - VODÁČKOVÁ, O. Strategické aliance se zahraničními partnery. 1. vyd. Praha: Management Press, 2002.137 s. ISBN 80-7261-058-9
Syllabus of lectures
- Characteristics of process of strategic management, vision, mission, strategy of company, schools of strategic management
- Analysis of external environment, environment of company, analytical tools for external factors
- Development of competition and competitive environment
- Analysis of internal environment, value chain, resources, competencies and capabilities, portfolio analysis, financial analysis, SWOT analysis
- Definition of strategic objectives, strategic business units
- Corporate strategy, business strategy, functional strategy, horizontal strategy
- Competitiveness of company, competitive advantage and its development, Porter and his generic strategies, competitive behavior
- Alternative tools of evaluation of competitive position of company
- Diversification, integration, mergers, acquisition, restructuring, joint-venture, cooperation of companies, business networks
- Strategy of internationalization of company
- Selection of strategy, factors influencing strategic choice and methods of strategic choice
- Implementation and evaluation of strategy, corporate governance
- Organizational aspects of implementation of strategy, strategic leadership and control
Attendance at seminars is required and controlled. If percentage of absence is more than 10% than this absence can be compensated by knowledge test, solving of additional case study and/or elaborating of additional final project. Attendance at lectures is not compulsory, but is recommended.
To get course-unit credit students have to complete one of three case studies or elaboration of final project solving strategy of concrete company. Final project or case study is solved in teams - 3 - 6 students. Students have to prepare assignment and ppt presentation. Project or case study will be presented in the term defined in timetable. Detailed information about content and structure of both project and case study will be available in subject news. Only students who obtained course-credit unit can pass an exam. Student has to demonstrate his/her ability to explain theoretical base and apply it in wide context. of practical application. Exam is written - test form (60 minutes, 50 questions, 5 possible answers, only one correct, +1 point for right answer, -1 point for wrong answer, 0 point for no answer). Students who will not pass test will have oral exam with written preparation (duration about 30 minutes).
Course inclusion in study plans