INTERNATIONAL BUSINESS STRATEGY

SHE Level 3
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M3N225066
Module Leader Keith Halcro
School Glasgow School for Business and Society
Subject Management
Trimester
  • A (September start)

Pre-Requisite Knowledge

None

Summary of Content

This module provides students with the knowledge and skills to develop and implement business strategies within a variety of organisational and geographical settings. It is repeatedly stated that organisations are operating in a complex, fast-moving environment in which they are constantly seeking to discover ways that will help them survive and succeed. This module explains how managers can use a variety of tools to analyse situations and craft a strategy that can help the organisation gain and maintain its competitive advantage/achieve its objectives. The syllabus examines strategy in the commercial, public and not-for profit sectors, as well as considering the reason for organisations operating beyond their national boundaries. The syllabus examines the evolution of strategy and its development from a financial tool to one designed to encourage innovation. The module explores the analysis, choice and implementation of a strategy with an emphasis on generating sustainable, competitive advantage. -2784 Students are introduced to the language, analytical tools, frameworks and normative models of strategic management that provide the basis for assignments which test students' abilities to apply knowledge. Content considers strategy from various organisational settings, including public and not-for-profit, ones often ignored in many textbooks, yet frequently comprising half an economy's GDP. The module aims to inform the student on the 'why', 'what', 'where' and 'how' strategy is made. Summary of how PRME-related issues / topics are covered in this module: within this module, students will critically evaluate strategies across a range of organisational contexts including consideration of opportunities aimed towards the 'Bottom of the Pyramid'. This approach will seek to align the strategic process to ideas related to the 'triple bottom line' (profit, people, planet) The percentage of Work Based Learning for this module, as represented by the Independent Learning 'Activity Type' is 62%. There is no Work Based Assessment, but part of the assessment portfolio requires students to reflect on their team's performance through the assessments and their role in the development of the team.

Syllabus

-142 - Historical context of strategy; origin, process, content and drivers of strategy - rational strategic management models, and frameworks for various organisational settings. - The global context: 'Globalisation' - definitions, origins, changing patterns in world trade and investment, global economic shift from West to East, the rise of emerging markets and the concept of an interdependent world. - Leadership challenges: economic, social, environmental, and the emergence of 'rules for business leaders' e.g. United Nations Global Compact (UNGC) - Principles of Responsible Management Education PRME - the implications for strategy design and assessing organisational performance. - The strategy process: Vision, mission, stakeholder analysis, corporate social responsibility and connection to strategy and creation of competitive advantage. -142 - External analysis: Analysing the macro environment, applying relevant tools PESTEL/SPENT. - Analysing the meso environment, applying relevant tools Porter's 5 Forces, Strategic Industry Mapping - Internal analysis: Analysing an organisation's strengths and weaknesses, skills, capabilities and competences, applying relevant tools: value chain and weighted competitive assessment - Business strategy: generic strategy and choices, competitive positioning and the creation of competitive advantage. - Strategy in the public sector and not for profit; similarities and differences - Corporate strategy: Ansoff's matrix, strategic options and choice: strategic directions (e.g. market development) and methods (e.g. acquisition]. - Corporate strategy: rationale for entering foreign markets; implications: culture, demographic and market, Porter's diamond - Quest for competitive advantage in foreign markets, exporting, joint ventures Not-for-profit strategies in foreign market - Implementation: structure - Implementation: culture, instilling - Implementation: Learning and change, the role of innovation - Evaluation of strategy: tools and frameworks for evaluating an organisation's strategy and strategic performance using financial and non-financial measures: key performance indicators, financial ratios, the 'triple bottom line'.

Learning Outcomes

On successful completion of this module, the student should be able: 1. Critically assess past, present and future developments within strategic management and their implications for organisational strategy.2. Understand and apply core concepts and analytical tools necessary to analyse the environment in which the organisation operates.3. Evaluate the various strategies available to an organisation in its quest for competitive advantage within national and international markets.4. Formulate and implement innovative strategies necessary to create sustainable competitive advantage within national and international markets.5. Assess the success of the strategy implemented using various performance indicators.

Teaching / Learning Strategy

The teaching and learning strategy uses a combination of lectures, seminars and workshops, some of which are led by academic staff and others by the students. The teaching programme draws on case studies, guest speakers and archived media material to contextualise and analyse various strategic issues. Emphasis is placed on bridging the gap between theory and practice using a simulation game. Working in groups students will develop their strategic knowledge and skills within a realistic environment. This platform gives students the opportunity to apply and evaluate a range of concepts, analytical tools and frameworks; and ultimately examine the consequences of their strategic decisions. Simulation games have been shown to be excellent mechanisms for developing subject knowledge and employability skills. Learning will be supported with the use of technology and the GCU Managed Learning Environment (MLE) in a number of ways: -360 1. As a repository for all course materials (module handbook, assignment details, mini-lecture podcasts, etc.). 2. Group discussion boards will be used to facilitate learning for module assignments and exam preparation. 3. Provision of links to useful research resources, readings, video clips (e.g.bob-box of broadcasts, ted.com). Feedback strategy: Marks and feedback will normally be provided within 3 working weeks of submission. If required, students may also make an appointment with the module leader for clarification and/or further feedback. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. The module aims to maximise the direct and digitally mediated contact time with students by practicing teaching and learning strategies that use authentic work based scenarios and encourage action learning, enquiry based learning, problem based learning and peer learning. All these approaches aim to directly involve the students in the process of learning and to encourage sharing or learning between students. The module team will determine the level and accuracy of knowledge acquisition at key points in the delivery, inputting when necessary either directly or with the support of external experts who will add to the authenticity , the credibility and applications of the education and learning to the workplace. The module seeks to develop the students' knowledge and understanding of strategic management through the application of theory, concepts and thinking to realistic scenarios. It uses a simulation games to achieve these outcomes, particularly as it can help to mirror the complexity students will face in their future careers. The module uses a critically acclaimed simulation game to develop subject knowledge and employability skills. The tutors randomly allocate students into seminars to develop a firm's strategy. Random allocation reflects the reality of the workplace, but also research suggests that random teams are often more creative, a key element of strategic success. The individual assessment requires the student to reflect upon the theoretical learning within the game, but also reflect on the team's development and their role in the development of the team.

Indicative Reading

-108 Anderson, J. and Billou, N. (2007), Serving the world's poor: innovation at the base of the economic pyramid, Journal of Business Strategy, Vol. 28, No. 2, pp. 14-21. Clegg, S., Carter, C., Kornberger, M., and Schweitzer, J. (2011), Strategy: Theory and Practice, Sage, ISBN: 978-1-84920-152-0. Crane, A., and Matten, D. (2010), Business Ethics: Managing Corporate Citizenship and Sustainability in an Age of Globalisation, 3 rd Edition Oxford University Press, ISBN: 978-0-19-956433-0. Grant, R. (2010), Contemporary Strategy Analysis, 7 th Edition, Wiley, ISBN: 978-0-470-74709-0. Hill, C.W. (2013), International Business: Competing in the Global Marketplace, South-Western/Cengage Learning ISBN: 978077140656. Kelly, P. (2009), International Business and Management, South-Western/Cengage Learning, ISBN: 978144807840. Lasserre, P. (2012), Global Strategic Management, 3 rd Edition, Palgrave, ISBN 978-0-230-29381-6. London, T. and Hart, S. L. (2011) Next Generation Business Strategies for the Base of the Pyramid: new approaches for building mutual value, Pearson Education. ISBN 978-0-13-704789-5. Lynch, R. (2012), Strategic Management, 6 th edition, Pearson, 978-0-273-75092-5. Peng, M.W. (2013), Global Strategy, 3rd Edition, South-Western/Cengage Learning, ISBN: 9781133964612. Prahalad, C. K. (2010), The Fortune at the Bottom of the Pyramid: eradicating poverty through profits, Revised and updated 5 th Anniversary Edition, Pearson Education, ISBN 978-0-13-700927-5. Stead, J. G. and Stead, W. E. (2014), Sustainable Strategic Management, 2 nd Edition, Greenleaf Publishing, ISBN: 978-1-907643-96-5. Thompson, A.A., Janes, A., Peteraf, A, Sutton, C., Strickland, A.J., and Gamble, J.E., (2013),, Crafting and Executing Strategy: the quest for competitive advantage, McGraw-Hill, 18 th Edition, ISBN: 9780077137236 Verbeke, A., (2013), International Business Strategy, Cambridge University Press, 2 nd Edition, ISBN: 978-1-107-68309-9. Volberda, H., Morgan, R., Reinmoeller. P., Hitt, M., Ireland, R. D. & Hoskisson, R. (2011) Strategic Management, South-Western/Cengage Learning, ISBN: 978-1-4080-1918-4. Academic Journals: California Management Review European Management Journal European Management Review Journal of International Business Studies International Business Review International Marketing Review Management International Review Additional reading materials will be drawn from online resources.

Transferrable Skills

-108 Students following this module will further develop the following personal transferable skills: b7 Analytical skills - through case study analysis in seminars b7 Communication and interpersonal skills - through presenting individual findings in seminars and through group discussions b7 Problem-solving skills - through the application and integration of knowledge gained (from this and other disciplines) to making recommendations on the validity of various tools and techniques b7 Self-management/independent learning skills (reflected in management of coursework and directed learning activities) b7 Writing skills (through the written formative and summative coursework) b7 Research skills - through directed investigative work b7 ICT Skills - through the use of the Internet, Blackboard and Web 2.0 technologies

Module Structure

Activity Total Hours
Simulation Game 5.00
Independent Learning (FT) 124.00
Assessment (FT) 40.00
Seminars (FT) 7.00
Lectures (FT) 24.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 02 n/a 50.00 35% Individual report on simulation game. Week 14. 1500 words
Course Work 01 n/a 50.00 35% Team Report on simulation game. Week 14. 2500 words