BM302 - Strategic Management

Credit Points: 15 credit points

Workload: 36 hours

Prerequisite: BB103 Management Principles

Co-requisite: N/A

Aims & Objectives

This is a third-year core unit offered in the Bachelor of Business Management. For Course Learning Outcomes and further information relating to Bachelor of Business programs please visit our website:  http://www.mit.edu.au/study-with-us/programs/bachelor-business.

In today’s rapidly changing business environment, managers are increasingly required to justify their business decisions. This highly practical and interactive unit will provide students with a comprehensive understanding of techniques and models applied in organisations to obtain sustainable competitive advantage. Students will learn to prepare a strategic business plan, examining the key strategic business areas that a successful plan must consider, plus take into account equally important issues such as core values, purpose and mission statements. In addition, students will gain stronger insights into competitive strategies, value chains and life cycles. The focus in this unit will be on developing the ability of students to understand, evaluate and effectively apply strategic management knowledge to modern organisations.

Unit topics include:

  • The strategic planning process
  • Core values, purpose and mission
  • Situation analysis and competitive strategies, including Porter’s five forces.
  • The value chain and lifecycles
  • People management issues
  • Monitoring the plan
  • Strategic plan simulation

Learning Outcomes

The Course learning outcomes applicable to this unit are listed on the Melbourne Institute of Technology’s website: www.mit.edu.au
At the completion of this unit students should be able to:
a. Analyse the conceptual, theoretical and practical knowledge of strategic management.
b. Apply the theoretical models of strategic management such as Porter’s five forces, value chain and lifecycles to work based practices.
c. Articulate the key aspects and major processes of a strategic business plan
d. Develop a strategic business plan.
e. Explain the role of leadership in changing organizational environment.

Assessment

Assessment Task     Due Date A B Unit Learning Outcomes
1. Formative Assessment Week 2 - 4% d,e
2. Contribution in Class Weeks 1-12 - 6% a-e
3. Case Study Analysis  [individual] Week 5 20% - a,b,c,e
4. Strategic Business Plan [Group] Week 8 20% - a-e
5. Strategic Business Plan Presentation [Group] Week 8 10% - a-e
6. Case Study Analysis [Individual] (3 hours) TBA - 40% a,b,c,e
TOTALS   50% 50%  

Task Type: Type A: unsupervised, Type B: supervised.

Contribution and Participation (5%)

This unit has class participation as an assessment. The assessment task and marking rubric will follow the Guidelines on Assessing Class Participation (https://www.mit.edu.au/about-us/governance/institute-rules-policies-and-plans/policies-procedures-and-guidelines/Guidelines_on_Assessing_Class_Participation). Further details will be provided in the assessment specification on the type of assessment tasks and the marking rubrics.

Teaching Methods

NOTE: All School of Business units 3-hour workshops Flipped Classroom Mode. 

Textbook and Reference Materials

Note: Students are required to purchase the prescribed text book and have it available each week in class.

Prescribed Text Book

  • Hill, C., Schilling, M., & Jones, G. (2020). Strategic Management: Theory & Cases: An Integrated Approach, 13th ed. U.S.A: Cengage Learning.

Other recommended references

  • Hitt, M. Ireland, D. and Hoskisson, R. (2017). Strategic management: Competitiveness and Globalisation: Concepts and Cases, 12th ed., Boston: USA, Cengage Learning. ISBN9781305502147.
  • Grant, Murray, Orr, Butler, Bezemer (2020). Strategic Management, Essentials Edition, Brisbane Wiley. ISBN: 9780730385769.

Journal articles

  • Making Strategy Hot, Healey, Mark P.; Hodgkinson, Gerard P.. California Management Review; SPR 2017; 59; 3; p109-p134.
  • Strategy as Diligence: Putting Behavioural Strategy into Practice, Powell, Thomas C… California Management Review; SPR 2017; 59; 3; p162-p190.
  • Aristos, D., Georgios, S., Miltiadis, C., and Grigorios, K. (2018). The impact of mergers and acquisitions on corporate culture and employees: the case of Aegean & Olympic Air, Academy of Strategic Management Journal, 17, (1), 1-13.

The Referencing style for this unit is APA: See the MIT Library Referencing webpage: https://library.mit.edu.au/referencing/APA and the Unit Moodle page for additional referencing support material and weblinks.

Graduate Attributes

MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:

Ability to communicate Independent and Lifelong Learning Ethics Analytical and Problem Solving Cultural and Global Awareness Team work Specialist knowledge of a field of study

Legend

Levels of attainment Extent covered
The attribute is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations.
The attribute is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations.
The attribute is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations.
The attribute is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by activities such as lectures or tutorials.
The attribute is not considered, there is no theory or practice or activities associated with this attribute.