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 platform AMS Campus

Readings/Bibliography

TEXTBOOK

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

 

FURTHER READINGS

Heracleous, L. and Wirtz J. 2010. Singapore Airlines’ Balancing Act. Harvard Business Review, July-August.

Kim, W.C. and Mauborgne R. 1997. Value innovation: the strategic logic of high growth. Harvard Business Review, January-February, 103-112.

Kosovà, R., Lafontaine F. and Perrigot R. 2013. Organizational form and performance: evidence from the hotel industry. Review of Economics & Statistics, 95(4): 1303-1323.

Porter, M.E. 1979. How competitive forces shape strategy. Harvard Business Review, 137-145.

Porter, M.E. 1996. What is strategy? Harvard Business Review, November-December, 61-78.

Porter, M.E. 2008. The five competitive forces that shape strategy. Harvard Business Review, 57-71.

Zook, C. and Allen J. 2011. The Great Repeatable Business Model. Harvard Business Review, November.

Teaching methods

Lectures, exercises and case-studies discussed in class

Assessment methods

The assessment is based on two types of activities

• A written exam at the end of the course. The written exam comprises 21 multiple choice questions and accounts for 50% of the final grade.
• Two take home exams during the course. This activity involves the writing of a report (maximum 5 pages; font size 12 pt, 1.5 line space) dealing with a relevant topic in the field of strategic management. Students can perform the activity either individually or in couple.

As for the deadlines of the assignment:

• First take home exam: hand out on October, 20^th 2017. Deadline for submitting the report is October 27^th 2017.
• Second take home exam: hand out on December 7^th 2017. Deadline for submitting the report is December 14^th 2017.
• The take home exams will be distributed by email and the report must be returned, in pdf format, to the following address: marco.corsino@unibo.it [mailto:marco.corsino@unibo.it]
• Report received after the deadline expires will be penalized.

The take home exam comprises the following tasks:

1. A bibliographic search of articles, published in scholarly, peer reviewed journals since 2010, that deal with the topic of the assignment. Students are required to:
   • use the ABI/Inform Collection database to carry out the bibliographic search;
   • describe the criteria that define the scope of the literature review: e.g., terms used to carry out the bibliographic search; type of sources; language; etc.;
   • as for the output of the bibliographic search, students must select a subset of at most 20 articles, arranged by relevance, export this list using the APA citation style, and sent it as an attachment to the take home exam;
   • select one empirically oriented study from the subset of 20 articles and discuss its: research question; theoretical background; research hypotheses; context of analysis; major results; managerial implications.
2. A bibliographic search of an article published on a major newspaper (e.g., Wall Street Journal, Financial Times) or magazine (e.g., The Economist) that deals with the topic of the assignment. Students are required to:
   • discuss the major issues presented in the article.

Each take home exam accounts for 25% of the final grade.

Office hours

See the website of Marco Corsino