78357 - Strategic Management

Learning outcomes

The course is meant to endow students with the theoretical constructs and methodological techniques needed to design an effective business strategy. Two major factors underpin the achievement of this objective: 1) the focus on the determinants of value creation; 2) the assessment of contingencies that drive business operations in the real world. In the aftermath of the financial crisis occurred in 2008-2009, markets are characterized by a high degree of turbulence, unexpected events and fierce competition. In such a context, implementing an effective strategy is mandatory for firms struggling to achieve and sustain a competitive advantage. Thereafter, it is important to develop the competences required to carry out a strategic analysis that supports: 1) the survival and growth of firms; 2) a superior rate of profitability in the long run; 3) a thorough understanding of customers needs; 4) the knowledge of strengths and weaknesses of the firm.

Course contents

PART I. INTRODUCTION TO THE COURSE, STRATEGY AND THE TOURISM INDUSTRY

• The concept of strategy
• Industry analysis: the fundamentals
• Scope and peculiarities of the tourism industry

PART II. BUSINESS STRATEGY AND THE QUEST FOR COMPETITIVE ADVANTAGE

• The sources and dimensions of competitive advantage
• Industry Evolution and Strategic Change

PART III. CORPORATE STRATEGY

• Vertical integration and the scope of the firm
• Global strategies and the multinational corporation
• Diversification strategies
• Implementing corporate strategy: managing the multibusiness firm
• External growth strategies: mergers, acquisitions, and alliances

A detailed version of the course program can be found in the syllabus, available through the e-learning platform

Readings/Bibliography

TEXTBOOK

Grant, R. M. (2016) Contemporary Strategy Analysis, 9^th Edition. John Wiley & Sons, United Kingdom.

Corsino, M. 2020. The management of inventions in research institutions. An international perspective on the ownership of scientific discoveries. McGraw Hill Education: Milano, Italy.

Further references will be distributed during classes through the platform Virtuale. Among these references are:

Bloom N., Sadun R., Van Reenen J. 2012. Does management really work? Harvard Business Review, 90(11): 76-82.

Porter ME 1996. What is strategy? Harvard Business Review, 74(6): 61-78.

Blank S. 2013. Why the Lean Start-Up Changes Everything. Harvard Business Review, 91(5): 64-72.

Johnson MW, Christensen CM, and Kagermann H. 2008. Reinventing your business model. Harvard Business Review, 86(12): na.

Porter ME 1979. How competitive forces shape strategy. Harvard Business Review, 57(2): 137-145.

Wessel, D. 2018. Is Lack of Competition Strangling the U.S. Economy? Harvard Business Review, Boston (Mar/Apr 2018).

Kim WC, Mauborgne R. 2004. Blue ocean strategy. Harvard Business Review, Vol. 82, Fasc. 10, (Oct 2004): 76-84.

Heracleous, L. and Wirtz J. 2010. Singapore Airlines’ Balancing Act. Harvard Business Review, 88(7,8), n/a.

Zook, C. and Allen J. 2011. The Great Repeatable Business Model. Harvard Business Review, 89(11): 106-114.

Barthelemy J. 2011. The Disny-Pixar relationship dynamics: Lessons for outsourcing vs. vertical integration. Organizational Dynamics, 40: 43-48.

Boyen MH and Ogasavara MH. 2013. Internationalization patterns of multinational lodging firms in Brazil. Tourism and hospitality Research, 13(4): 181-200.

Teaching methods

Lectures, individual work to carry out in class, teamworks

Assessment methods

Exam enrolment

Registration to the exam is compulsory: students must register through the platform AlmaEsami in the time window (15 days) during which registrations are open. Students not registered in AlmaEsami will not be admitted to the exam. The teacher will not take into account requests of registration received after the deadline of the enrolment period.

Structure of the exam

• Written exam (to be held in the Lab)
  
• 30 multiple-choice questions
• Time available: 40 minutes
• Each correct answer assigns 1 point

Evaluation grid

<18 Insufficient
18-23 Sufficient
24-27 Good
28-30 Great
30 cum laude Excellent

To pass the exam students must correctly answer at least 18 questions.

Grade rejection
Students can reject the grade obtained at the exam only once. To this end, he/she must email a request to the instructor within the date set for registration. If the grade is rejected, the student must retake the full exam. The instructor will confirm reception of the request within the same date.

Class activities (optional)
During the course, students who regularly attend classes can take part in class activities to carry out individually and/or in teams. The successful completion of these activities will assign extra points that will be used to compute the final grade. The extra points gained through the completion of these activities are valid only during the current academic year (2022-2023).

Teaching tools

Tools available through the platform Insegnamenti online

Office hours

See the website of Marco Corsino