Ministerul Educației Naționale și Cercetării Științifice

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1 DISCIPLINE SYLLABUS 1. Program Information 1.1 Higher-Education Institution Lucian Blaga University of Sibiu 1.2 Faculty Economic Sciences 1.3 Department Management, Marketing and Business Administration 1.4 Study Domain Management 1.5 Study Level Master 1.6 Study Program / Qualification Business Management 2. Discipline Information 2.1 Discipline name Strategy and Strategic Management 2.2 Course Teacher Professor Ph.D. Claudia Ogrean 2.3 Seminar Teacher Professor Ph.D. Claudia Ogrean 2.4 Year of Study II 2.5 Semester II 2.6 Evaluation Type E 2.7 Discipline Type C 3. Estimated Total Time (hours/semester for teaching activities) 3.1 Hours/Week 3 Out of which: 3.2 course seminar/laboratory Total hours from learning plan 42 Out of which: 3.5 course seminar/laboratory 14 Learning time schedule Hours Learning by using course materials, references and personal notes 18 Additional learning by using library facilities, electronic databases and on-site information 20 Preparing seminars/laboratories, homework, portfolios and essays 25 Tutorial activities 14 Exams 11 Other activities Total individual study hours Total hours per semester ECTS 6 4. Preconditions (if needed) 4.1 curriculum Managerial economics 4.2 competences Knowing and understanding of the basic concepts in Management 5. Conditions (if needed) 5.1. course related Videoprojector & laptop 5.2. seminar/laboratory related Videoprojector & laptop

2 Transversal Professional 6. Developed competences 7. Course objectives (resulted from developed competencies) Ministerul Educației Naționale și Cercetării Științifice Identifying, describing and explaining the main concepts, categories and theories of Strategy and Strategic Management in order to use them in specific contexts; Applying the most appropriate tools to solve Strategy & Strategic Management related problems strategic competitiveness, sustainable competitive advantage, co-evolution with the environment; Explaining and interpreting the relationships between the different systems, domains, processes and relations of an organization through the lens of their interconnections with the Strategic management process and the organization s Strategic System; Applying the most appropriate tools to optimize the strategic process within the organization as regards strategy analysis, formulation, implementation and evaluation; Identifying, explaining and interpreting of the social, economic and environmental impacts associated with the strategic management of the organization; Applying the most appropriate tools to analyze the functioning of the entire company/ organization within the framework of strategic management; Describing the constructs, theories and methodologies for database strategic management; Explaining and interpreting quantitative and qualitative information extracted from databases in order to anticipate and project future developments, able to impact the strategic trajectory of the company; Applying the most appropriate tools to analyze and interpret the data resulted from scanning the environment, monitoring the environment and strategic intelligence in order to develop the most appropriate strategic system and the best fitted strategies to connect the organization with its environment. Applying the ethical principles, standards and values in students work; Identifying roles and responsibilities in a multi-specialized team and applying networking and effective work techniques within the team; Identifying training opportunities and effective use of resources and learning techniques for personal and professional development; Working with Strategic Management specific vocabulary in English. 7.1 Main course objective 7.2 Specific course objectives For students to know what strategy and strategic management are, why they are crucial for any kind of organization and how can they determine a company s (sustainable) competitiveness. Understanding the strategic management process and the key-role of strategy within it; Developing the ability to work in teams and to lead working teams in order to elaborate formulate implement control and evaluate a company s strategy; The acquisition and developing of knowledge and skills enabling creative and critical thinking, fast and timely decisions, and proactive behaviours; Gaining of the necessary knowledge, and the main abilities and competencies needed in order to perform a strategic audit.

3 8. Content Ministerul Educației Naționale și Cercetării Științifice 8.1 Course Teaching methods Observation Part 1: Strategy Analysis Introducing Strategy What is strategy and why is it important? The characteristics of strategic decisions Levels of strategy The vocabulary of strategy The strategy process The nature of Strategic Management What is SM? definition, key attributes & Key terms The SM process / model Benefits of SM Why some firms do no strategic planning Pitfalls in strategic planning The role of corporate governance and stakeholder management The strategic management perspective: an imperative throughout the organization The External Assessment What is the external environment? Why does it matter? Creating the Environmentally Aware Organization The general environment: PESTEL framework The competitive/ industry / task environment Porter 5 forces model Industry dynamics Strategic groups Performing the external audit EFE (EFAS) & CPM The Internal Assessment Components of Internal Analysis Leading to Competitive Advantage and Strategic Competitiveness Resources Capabilities Core competencies The Resource-Based View (RBW) of the firm VRIO Framework Sustaining competitive advantage Dynamic capabilities The value chain perspective (VCP) and analysis - Porter Primary activities & Support activities; the prosumer concept Benchmarking & Outsourcing The nature of the internal audit Identifying strengths and weaknesses in the Explaining / Lecturing Demonstrating (through examples) Exposing Debate Class participation

4 functional areas of business; strategy and (organizational) culture IFE matrix Part 2: Strategy Formulation Ensuring Coherence in Strategic Direction Ensuring Coherence in Strategic Direction Vision; Mission; Values ; Strategic Objectives Generic strategies 4 categories & 11 types Formulating strategy across levels Corporate; Business; Functional The Strategy-Formulation Analytical Framework Input stage EFE, CPM, IFE Matching stage SWOT, SPACE, BCG, IE, Grand Strategy Decision stage - QSPM Business-Level Strategy: Creating and Sustaining Competitive Advantages A. Business strategy - generic strategies Business-Level Strategy: How to Compete for Advantage Strategic Position; Generic Business Strategies Differentiation Strategy: Understanding Value Drivers Product features; Customer Service; Complements Cost-Leadership Strategy: Understanding Cost Drivers Cost of Input Factors; Economies of Scale; Learning Curve; Experience Curve Business-Level Strategy and the Five Forces: Benefits and Risks Cost-Leadership Strategy: Benefits and Risks; Differentiation Strategy: Benefits and Risks Integration Strategy: Combining Cost Leadership and Differentiation Value and Cost Drivers of Integration Strategy; Integration Strategy Gone Bad: Stuck in the Middle The Dynamics of Competitive Positioning B. Business strategy - innovation and entrepreneurship Competition Driven by Innovation The Innovation Process Strategic Entrepreneurship & Social Entrepreneurship Innovation and the Industry Life Cycle Introduction Stage; Growth Stage; Shakeout Stage; Maturity Stage; Decline

5 Stage; Crossing the Chasm Types of Innovation Incremental vs. Radical Innovation; Architectural vs. Disruptive Innovation; The Internet as Disruptive Force: The Long Tail; Open Innovation Corporate-Level Strategy: What Is Corporate Strategy? The Boundaries of the Firm Firms vs. Markets: Make or Buy?; Alternatives on the Make-or-Buy Continuum Vertical Integration along the Industry Value Chain Types of Vertical Integration; Benefits and Risks of Vertical Integration; Alternatives to Vertical Integration Corporate Diversification: Expanding Beyond a Single Market Types of Corporate Diversification; Leveraging Core Competencies for Corporate Diversification; Corporate Diversification and Firm Performance Mergers & Acquisitions; Strategic Alliances International Strategy: Creating Value in Global Markets The Global Economy: A Brief Overview Factors Affecting a Nation s Competitiveness International Expansion: A Company s Motivations and Risks Achieving Competitive Advantage in Global Markets Entry Modes of International Expansion Part 3: Strategy Implementation How to Organize for Competitive Advantage Organizational Inertia and the Failure of Established Firms The Key Elements of Organizational Structure Assembling the Pieces: Mechanistic vs. Organic Organizations Matching Strategy and Structure Simple Structure Functional Structure Multidivisional Structure Matrix Structure Organizational Culture: Values, Norms, and Artifacts Where Do Organizational Cultures Come From? How Does Organizational Culture Change? Organizational Culture and Competitive Advantage Strategic Control-and-Reward Systems Input Controls & Output Controls Corporate Governance and Business Ethics The Shared Value Creation Framework

6 Public Stock Companies and Shareholder Capitalism Creating Shared Value Corporate Governance Agency Theory The Board of Directors Other Governance Mechanisms Strategy and Business Ethics Implementing strategy Management and Operations Issues Marketing, Finance & Accounting, R & D, and MIS Issues Strategy Review, Evaluation and Control Bibliography David, F. R., & David, F. R. (2012). Strategic Management: A Competitive Advantage Approach, Concepts and Cases Eden, C., & Ackermann, F. (2013). Making strategy: The journey of strategic management. Sage FitzRoy, P., Hulbert, J., & Ghobadian, A. (2012). Strategic management: the challenge of creating value. Routledge Hill, C., Jones, G., & Schilling, M. (2014). Strategic Management: Theory: An Integrated Approach. Cengage Learning Hitt, M., Ireland, R. D., & Hoskisson, R. (2012). Strategic management cases: competitiveness and globalization. Cengage Learning Hrebiniak, L. G. (2013). Making strategy work: Leading effective execution and change. FT Press Johnson, G., Whittington, R., Scholes, K., & Pyle, S. (2011). Exploring strategy: Text & cases. Harlow: Financial Times Prentice Hall Ogrean, C., & Herciu, M. (2015). A Dynamic Model for the Global Corporation: The Triad Networks Coevolution Competitiveness. Global Enterprise Management, Volume I: New Perspectives on Challenges and Future Developments, 1, Palgrave Mac Millan, 1079 Ogrean, C., & Herciu, M. (2011). Strategic Management between the Constraints and Incentives of Globalization the Role and Contribution of Business Ethics and Corporate Social Responsibility. The economic geography of globalization, In Tech, 21 Peng, M. (2013). Global strategy. Cengage learning Rothaermel, F. (2015). Strategic management. McGraw-Hill 8. 2 Seminar/laboratory Teaching methods Observations Introducing the methods - of case study analysis; of the Problematizing strategic audit Case studies Company s vision, mission and strategic goals Debates Assessing the internal environment and measuring Problem solving company s performance Role playing Evaluating the external environment general, Mosaic industry, competitors Cognitive map Corporate-level strategies Brainstorming Business-level strategies Class participation The strategic audit of the company final term project Collaborating Bibliography Barney, J. B., & Hesterly, W. S. (2008). Strategic management and competitive advantage: concepts and cases. Upper Saddle River, NJ: Pearson/Prentice Hall Eden, C., & Ackermann, F. (2013). Making strategy: The journey of strategic management. Sage Hitt, M., Ireland, R. D., & Hoskisson, R. (2012). Strategic management cases: competitiveness and

7 globalization. Cengage Learning Lasserre, P. (2012). Global strategic management. Palgrave Macmillan Stead, J. G., & Stead, W. E. (2013). Sustainable strategic management. ME Sharpe Journals: Harvard Business Review, Strategic Management Journal, Journal of Strategy and Management, International Journal of Strategic Management, Management Decisions 9. Conjunction of the discipline s content with the expectations of the epistemic community, professional associations and significant employers of the specific teaching program Is realized by: The (theoretical and practical) knowledge acquired, which is: consonant with the theories and practices of the field; adjusted to the dynamic labor market's needs; able to develop skills and competencies relevant for industry practice; The (profound) practical dimension of: the discussed case studies; The transversal competences acquired: as concern critical, creative and innovative thinking; through communication / debates, working in a team; PC operation; making connections with other disciplines and with concrete organizational realities; individual study and personal / professional development. 10. Evaluation Activity type 10.1 Evaluation Criteria 10.2 Evaluation Methods 10.3 Percentage in the Final Grade Class participation Knowing and 10.4 Course understanding of the Continuous evaluation 10% concepts, categories Exam 30% and theories of the course Understanding of 10.5 Seminar/laboratory particular contexts for strategy and strategic management Problematizing Case studies Identifying and Projects formulating strategic Homework solutions 60% Applying specific strategic management tools for problem solving 10.6 Minimum performance standard The student to identify and classify the basic concepts The student to define, recognize and enumerate the fundamental categories of strategy and strategic management The student to conceptualize and to operate with the basic concepts, to identify them into case studies; The student to develop a proper and coherent representation of the significance of strategy and strategic

8 management. Fill-in Date Signature of Course Teacher Signature of Seminar Teacher Department Acceptance Date Signature of Department Director......