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Introduction to Strategy

International Business Strategy 301REN. Introduction to Strategy. Unit: 1 Knowledgecast : 1. Welcome. Module Learning Outcomes. Demonstrate a sound appreciation of current strategic management concepts . What is Strategy?.

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Introduction to Strategy

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  1. International Business Strategy 301REN Introduction to Strategy Unit: 1 Knowledgecast: 1

  2. Welcome

  3. Module Learning Outcomes • Demonstrate a sound appreciation of current strategic management concepts.

  4. What is Strategy? “Strategy is the direction and scope of an organization over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations.” Johnson & Scholes 2008:3 “A coordinated series of actions which involve the deployment of resources to which one has access for the achievement of a given purpose.” White 2004:5

  5. Aims of Strategy • Articulation of business goals • Organisationof activity to achieve those goals • Translating business opportunity into outcomes such as sales, profit etc

  6. Strategic Management Elements

  7. The Challenges (Some of them…..!) • Who is the strategist? • Strategic drift • Internationalization • E-Commerce • Strategic capability to employ e-commerce? • Changing organisational purpose • Knowledge and learning

  8. Knowledgecast Summary • Demonstrate a sound appreciation of current strategic management concepts.

  9. Seminar Heraldic Shields Getting to Know Each Other When selected to work in an internal, cross- functional team, it is important that the team get to know each other quickly in order to understand what each other can bring to the project and therefore understand their own role and responsibilities. The purpose of this seminar is for you to get to know your fellow team members as quickly as possible by undertaking the following activity.

  10. Seminar Balloon Debate Business Balloon Debate: As a team of management consultants you are bidding for some work with a new client who is looking to develop their Strategy and needs your expertise and experience. Prepare a case to justify your inclusion in the team. Remember this is a persuasive piece of work upon which you are going to receive some pretty direct feedback! Further details of this group activity are available in Moodle.

  11. Group Activity Researching Strategy: You are required to carry out an independent research activity to identify a minimum of three other definitions of strategy from both academic and non-academic sources. Please record the definition, its source and whether it is an academic or non-academic definition on paper or digitally and bring it to the session. When you have gathered the alternative definitions, share them with your team in order to make notes comparing and contrasting the definitions (max 250 words).

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