Instructions

Module No:  BU3413

Module Title:  Business Strategy and Decision Making

Task 3 – Individual Essay

‘Strategic planning at most companies doesn’t really matter anymore. Sure, the process often consumes an enormous amount of time and produces reams of data, but rarely does it drive top management’s decisions or a company’s overall strategy.’ (Mankins, 2008)

Critically evaluate strategic planning as an appropriate way of developing an organizations strategy

2000 Words

FIND THE FULL ESSAY HERE

Key considerations:

Focus is on strategic planning not strategy

Must be theoretically embedded and include company examples

Essay format, not a report

Essay Structure:

What is strategic planning?

Introduction to the strategic planning school of thought.Characteristics of the planned approach.

Models / theorists which are associated with the school

Signposting the reader

Strengths and pitfalls of strategic planning

Strengths   Plans in place – everyone knows what they are – gives direction Increases awareness of external factors – can possibly be more prepared – have foreseen some events coming.  Better understanding of the external environment due to the analysis taking place – see bigger picture Allocated resources better and budgeting Having conversations about the future and thinking about the future Facilitate risk management agenda

Pitfalls   Less agile and less flexible – increased rigidity if remain committed to original plans / or too much focus Plans completely wrong – changes that are unforeseen – waste of time?  – volatile environment – strategic planning not as useful Analytical tools used have limitations – both in the data collected and the subjective nature. Same team making strategic decisions / plans – same decisions being made. Lack diversity will compound this issue. Plans are not the correct ones for the event that occurs. Divorced implementation from decision making

What are the alternatives?

Mintzberg – strategy as craft / incremental approach

RBV / core competency theory

So how should organisations approach strategic planning?

Blended approach: Quinn (1978) and Quinn and Voyer (1994) adopt both a strategic planning approach and purposeful incrementalism. Strong emphasis on environmental scanning, organisation learning and strategy as an on-going process (Markides).Deliberate and unplanned.

Company examples (Very important)

Implementation implications – practical insights

Conclusions

Summing up of the essay. Nothing new should appear in this section – just a recap of what you have already said.

References:

Reading from Blackboard and evidence of wider reading also (see the filebox of references)

Strategic Planning Essay Marking Criteria:

Grading	Essay	Feedback
40%-	Critical evaluation and synthesis of context to make effective analyses and decisions: Effective analysis of question. Considers a wide range of peer reviewed concepts. Evidence of strong engagement in the literature both classic perspectives on the question and contemporary thinking. Critically evaluated the theory, concepts and models. Legible and carefully proof read (spelling mistakes and grammatical errors non-existent) Referenced Correctly. The essay offers practical insight. It considers how organisations should approach strategic planning. Includes company examples Strong and clear signposting Written with conviction and focus Contains some distinctive or independent thinking
0-39.9%	Adequate analytical treatment with evidence of some independent learning. Occasionally descriptive content with minimal clear critical evaluation. Adequate attempt to construct a coherent argument. Legible and carefully proof read (spelling mistakes and grammatical errors non-existent) Accurate and written to an exceptional standard

Module Guide

1.  Module Outline

‘He will win who knows when to fight and when not to fight.’

Sun Tzu, The Art of War, 490 BC

Business strategy is often seen to be about making decisions to do things that will enhance a company’s position, but equally it is not making decisions about not doing things that may prove detrimental to the company’s survival.  The difficulty is, of course, in knowing what to do.

Decision-making is seen as forming an integral part of the strategic function in all types of organisation and constitutes a critical factor in determining the success and failure of organisations and the individuals within. This module examines the complex processes involved in the practice of strategic decision-making, focusing on the extent to which decision-making deviates from rational and systematic approaches. The module seeks to provide students with a background in strategic analysis, strategic decision making and strategy development. The focus is on the development of strategy and strategic choice as they both are inextricably linked to the nature, structure, and success of business.

While it is beyond the remit of this, or any, course to turn you into effective business strategists, the study of strategy is important because strategic decision making is inextricably linked to the nature, structure, and success of organisations.

The course will make extensive use of case studies in order to provide a realistic framework for understanding and applying tools and techniques that underpin business strategy.

The course content covers five main areas. The programme starts with an Introduction to Decision Making in which students will become acquainted with the rational decision making process and conditions which result in deviation away from the rational decision making process. It will then move on to introduce students to Strategic analysis, which is concerned with understanding the company environment and situation. Following strategic analysis students will then consider Strategic choice, which deals with how organisations choose between alternative strategies. Final strategic implementation, which will look at some of the issues and consequences of organisational decisions.

2. Module Aim

The module seeks to provide students with a background in business analysis and strategy development. The focus is on the development of strategy and strategic concerns because strategy is inextricably linked to the nature, structure, and success of business.

3. Learning Outcomes

On successful completion of this module a student will be able to:

1. Critically examine how the decision-making context (individual, social, cultural and economic) influences the nature and effectiveness of managerial decision-making.
2. Critically analyse the limitations and problems that can arise in group decision-making and suggest measures that might be taken to enhance the effectiveness of group decision-making.
3. Apply and analyse various theories that underpin an understanding of corporate strategy and the associated analytical tools and techniques to analysing strategic options.
4. Select and apply appropriate tools and techniques to examine strategic options and explain and assess the consequences of those choices.
5. Critically reflect on their own decision-making capability and identify areas that require further development.

4. Learning Process

A variety of teaching and learning methods will be utilised. These will include lectures, videos, case studies, group work, discussions and decision-making exercises. The emphasis will be on activity based learning using realistic materials in a practical context. This module will also encourage a collaborative learning environment that encourages students to learn with, and from, each other.

Students will be supported in their learning through seminar activities and learning materials. The staged nature of the assessment process enables feedback to be provided throughout the module. This facilitates the continued development of student understanding and skills.

4.1 WebCT Support Material

Copies of the module handbook, lecture notes and other relevant learning material are available on the WebCT site.   Note you will need to have completed the enrolment process to have access to this material.

5.  Essential Reading

There is one essential textbook that you must obtain for this module as it includes most of the reading and case study material you will be assessed on though the individual assessments:

Exploring Corporate Strategy: Text and Cases, Johnson, Whittington, Scholes, Angwin and Regner (2014), 10^th Edition, London, Financial Times Prentice Hall 

8^th or 9^th editions are also acceptable

6.  Recommended Reading

Campbell, D., Edgar, D. & Stonehouse, G. (2011) Business Strategy: An Introduction. Palgrave. Basingstoke

Henry, A.E. (2011) Understanding Strategic Management 2^nd Edition Oxford University Press, Oxford

Thompson, A., Strickland, A., Gamble, J., Peteraf, M. Janes, A. & Sutton, C. (2012) Crafting and Executing Strategy McGraw-Hill, Maidenhead

Mintzberg, H., Ahlstrand, J. and Lampel, J., (1998), Strategy Safari: A Guided Tour Through the Wilds of Strategic Management, Simon & Schuster.

A large number of journal articles are now available online through the computer network and the University library (see Electronic Journals A – Z from the library homepage). Some examples include the Harvard Business Review, Long-range Planning Journal, Journal of Strategic Management and Sloan Management Review.

There are several newspapers and magazines that deal with business issues.  Most broadsheet newspapers will have a business section, the Financial Times is a dedicated business paper and the Economist magazine has a strong business focus.

7.  Assessment Strategy

BU3413 is assessed by both group work (20%) in the form of a case study analysis and an individual analysis of your performance in the group context (10%). An individual essay (30%) and finally an exam (40%). See section 9 and 11 for detail of relevant dates. 

The final module mark will be calculated as a weighted average of the assessment modes using the weights indicated above.  A final module mark of, at least, 40% is required to pass the module.

8. University Regulations

8.1 Reassessment

The decision to offer reassessment lies with the Course/School Assessment Board taking account of the recommendations from Module Boards and the student’s overall profile.  For modules which are assessed at the end of the first semester, the decision to offer reassessment lies with the Module Board.

The best mark which may be awarded for a module following reassessment is 40%.  If both the original mark and the reassessment are at <40% then the better of the two marks will be used in any subsequent averaging calculation.

Where a reassessed module is failed the Course/School Assessment Board will use academic judgement to determine whether that module may be condoned or retaken, taking account of the recommendations from the Module Board.  A retaken module (or alternative module) counts as a second attempt.

8.2 Attendance

Student attendance at timetabled learning activities of Courses and Modules is required.  Notification of illness or exceptional requests for leave of absence must be made to the Course Leader.  Unauthorised absence is not acceptable and may attract academic penalties (See Academic Regulations C11.4) and/or other penalties (see Regulations for the Conduct of Students).

Students who do not respond to communications concerning continuous unauthorised absence may be deemed to have withdrawn from the course.  The date of withdrawal will be recorded as the last day of attendance.  Individual modules may incorporate a specific attendance requirement as part of the assessment criteria for successful completion of a module. 

8.3 Late Submission

The University requires students to adhere to submission deadlines for any form of assessment.  A penalty will be applied in relation to unauthorised late submission of work.

Authorisation of the late submission of work requires written permission.  There is an extension form that needs to be completed, available from the Student Office.  This form needs to be signed by the module tutor and the Division Leader with responsibility for the module [if the Division leader is not available then the form can be signed by the appropriate Associate Director].   It is your responsibility to get the form signed which will give you permission for one extension period of between 1 and 10 working days where evidence of circumstances has been accepted and where submission within this timescale would be reasonable taking into account those circumstances.

The University operates a universal penalty scale for unauthorised late submission of any form of assessed work.   Students who submit work within 5 working days after the published submission date without an authorised extension will obtain a maximum mark of 40% for that element of assessment.

All work submitted later than 5 working days after the published submission date will be awarded a mark of 0%.

8.4 Extenuating Circumstances and Poor Performance

Students who are unable to submit work within 10 working days after the submission date due to verifiable extenuating circumstances which are serious and exceptional, may submit a case for consideration in accordance with the University’s Extenuating Circumstances Procedure.

The University operates a universal scheme for the submission of extenuating circumstances.  If you feel that you have extenuating circumstances then you need to obtain a special envelope marked “Extenuating Circumstances” from the Student Office.  This contains a form which asks for details of the course, the year of study, the name of the student, the name of the course leader and identifies the modules affected.  (This includes modules internal and external to the School).

You must attach relevant documentary evidence such as medical certificates.  The completed form and envelope are then returned to the Student Office.

[Note:  disability or learning difficulty does not constitute an extenuating circumstance]

8.5 Cheating, Plagiarism and using Unfair Means to Enhance Performance

The University regards any use of unfair means in an attempt to enhance performance or to influence the standard of award obtained as a serious academic and disciplinary offence.

Unfair means includes all forms of cheating, plagiarism and collusion.  Students are required to sign a declaration indicating that individual work submitted for assessment is their own.

All instances or allegations of the use of unfair means will be investigated under the procedure detailed in Appendix 10 of the Academic Regulations.

It is therefore essential that you acknowledge an author’s work that you may have used to support an argument in any of your assignments.

Plagiarism is a particular form of cheating that the University is concerned about.  All work that is submitted for assessment must be genuinely your own work and not the result of plagiarism.    You sign to this effect on each cover sheet submitted with your assignments.  If you are quoting actual words from a published or unpublished text you must use quotation marks and cite your source. In order to avoid accusations of plagiarism you should use the Harvard Referencing System. This will ensure that there is no ambiguity.

You must also not pass work off as the result of your individual efforts, if you have in fact colluded with other students to prepare the piece of work jointly, or you have copied each other’s work.  Clearly, it is also wrong to copy another student’s work without them knowing about it.

You are advised to read the extract on this subject in the University Regulations.  If you have any doubts on this important matter, you are advised to speak with the module tutor or Course Leader.

9. Lecture Programme

Strategy and Decision Making (BU3413)

Week commencing	Lecture	Seminar
26th Jan	What is Strategy?	Module Introduction Case Study: Airline Industry post 9/11
2nd Feb	Strategic External Analysis – The General Environment	Glastonbury Case study release
9th Feb	Strategic External Analysis – The Competitive Environment	Case Study: Vodafone
16th Feb	Strategic Internal Analysis – Strategic Capabilities	Case Study: Ikea
23rd Feb	Groups and Teams in the Strategic Environment	Survival exercise
2nd March	Strategic Planning	Approaching the essay
9th March	Strategic Formulation – Competitive Strategy	Case Study: Mattel Barbie
16th March	Strategic Formulation – Strategic Capabilities	Case study: Nike SB
23rd March	Strategic Implementations	Pixar: Collective Creativity
30th March
6th  April
13th April	Organisational Change and Development	Case Study: Sony vs Samsung
20th April	Strategic Leadership	Release Exam case study
27th April	Revision Lecture Past Papers
6th May	No Lecture

10.  Core Case Studies

The majority of case studies  are from Exploring Corporate Strategy: Text and Cases (9^th Edition) by Johnson, Scholes and Whittington. Case examples are found in or at the end of chapters. Case studies are found at the back of the textbook. All case studies will be supplied to students on blackboard. You are expected to read and answer the questions prior to attending the seminar.

Task 3

Individual Essay

‘Strategic planning at most companies doesn’t really matter anymore. Sure, the process often consumes an enormous amount of time and produces reams of data, but rarely does it drive top management’s decisions or a company’s overall strategy.’ (Mankins, 2008)

Critically evaluate strategic planning as an appropriate way of developing an organizations strategy

Submission Date: Week commencing 13^th April

2000 Words