STRATEGIC PLANNING

Course Description

In this strategic planning course, students gain an understanding of the relationships between strategy, planning and execution, and learn how to develop a strategic mindset, improve their analytical skills, and apply creative planning to current challenges. Using case studies and drawing on the ideas and models of leaders in the field, this strategic planning course will debunk the myths and illustrate how good strategies are formed. The course gives a complete outline of the main areas found within the plan and offers guidelines for all information contained under the main headings. It also gives guidance for creating ownership within the organization and how to communicate the plan.

STRATEGIC PLANNING

Evaluation Tools (Active Term)

No evaluation items have been defined.

Course outcomes

1. 01 • be aware of the origins of strategy and how views on strategy have changed over time, • be familiar with some of the key questions and terminology in strategy
2. 02 • be familiar with key frameworks used to analyse organisations’ external environments and gain a sound understanding of how the structural characteristics of an industry influence competition and profitability; • be able to use evidence on structural trends within industries to forecast likely changes in competition and industry attractiveness and to consider the implications of such changes for organisations’ future strategies; • understand the value and challenges of undertaking external analysis and are are able to provide a critique of Porter’s five forces of competition framework; • be able to analyse competition and customer requirements in order to identify ‘key success factors’.
3. 03 • Identify and appraise the resources and capabilities of a firm; • Evaluate the potential for a firm’s resources and capabilities to confer sustainable competitive advantage; • Use the results of resource and capability analysis to formulate strategies that exploit internal strengths while defending against internal weaknesses; • Identify the means through which a firm can develop its resources and capabilities; • Recognise the challenges that managers face in developing the resources and capabilities of the organization.
4. 04 • Understand the concept of ‘competitive advantage and identify the circumstances in which a firm can create a competitive advantage over a rival; • Predict the potential for competition to erode competitive advantage through imitation; • Recognize how resource conditions create imperfections in the competitive process that offer opportunities for competitive advantage; • Distinguish the two primary types of competitive advantage: cost advantage and differentiation advantage; • Use the value chain framework to analyze potential sources of cost and differentiation advantage and to recommend strategies for enhancing competitiveness;
5. 05 • recognise the different stages of industry development and understand the factors that drive the process of industry evolution; • identify the key success factors associated with industries at different stages of their development and the strategies appropriate to these different stages; • recognise the particular challenges that face managers engaged in strategic decision making in the public and not-for-profit sectors
6. 06 • analyze how technology affects industry structure and competition; • Identify the factors that determine the returns to innovation, and evaluate the potential for an innovation to establish competitive advantage; • formulate strategies for exploiting innovation and managing technology;
7. 07 • understand what determines firm boundaries and the shifts in firm boundaries over time; • comprehend the rationale behind multi-business activity and the potential benefits and costs of extending the horizontal or vertical scope of a firm; • be able to evaluate the advantages and disadvantages of changing a firm’s scope and the different ways of exploiting opportunities for value creation;
8. 08 • Discern patterns of internationalization; • Analyse the implications of a firm’s national environment for its competitive advantage; • Formulate strategies for exploiting overseas opportunities, including overseas market entry strategies and overseas production strategies; • Formulate international strategies that achieve an optimal balance between global integration and national differentiation; • Design organizational structures and management systems appropriate to the pursuit of international strategies.
9. 09 • Understand the basic principles of organizational design; • Be aware of different types of organizational structure and their fit with particular tasks and business environments; • Comprehend the role of management systems in the coordination and control of corporations; • Understand the role that organizational culture plays in the way strategy is realized in practice
10. 10 • Familiarize students with some of the key changes that have occurred in the business environment in recent years; • Enable students to understand why the 2008 financial crisis has led to calls for change in a number of areas of management practice; • To raise students’ awareness of some of the latest development in strategic thinking; • To alert students to the forces that are driving changes in organizational design; • To raise students’ awareness of the approaches and initiatives that are being developed by firms in response to turbulence in the business environment.

Course Syllabus

Reference Books & Course Materials

1. 01 Grant R.M. and Jordan J. 2012. Foundations of Strategy, John Wiley and Sons, Ltd.1st edition.

Learning Outcomes

1. L01 • be aware of the origins of strategy and how views on strategy have changed over time, • be familiar with some of the key questions and terminology in strategy
2. L02 • be familiar with key frameworks used to analyse organisations’ external environments and gain a sound understanding of how the structural characteristics of an industry influence competition and profitability; • be able to use evidence on structural trends within industries to forecast likely changes in competition and industry attractiveness and to consider the implications of such changes for organisations’ future strategies; • understand the value and challenges of undertaking external analysis and are are able to provide a critique of Porter’s five forces of competition framework; • be able to analyse competition and customer requirements in order to identify ‘key success factors’.
3. L03 • Identify and appraise the resources and capabilities of a firm; • Evaluate the potential for a firm’s resources and capabilities to confer sustainable competitive advantage; • Use the results of resource and capability analysis to formulate strategies that exploit internal strengths while defending against internal weaknesses; • Identify the means through which a firm can develop its resources and capabilities; • Recognise the challenges that managers face in developing the resources and capabilities of the organization.
4. L04 • Understand the concept of ‘competitive advantage and identify the circumstances in which a firm can create a competitive advantage over a rival; • Predict the potential for competition to erode competitive advantage through imitation; • Recognize how resource conditions create imperfections in the competitive process that offer opportunities for competitive advantage; • Distinguish the two primary types of competitive advantage: cost advantage and differentiation advantage; • Use the value chain framework to analyze potential sources of cost and differentiation advantage and to recommend strategies for enhancing competitiveness;
5. L05 • recognise the different stages of industry development and understand the factors that drive the process of industry evolution; • identify the key success factors associated with industries at different stages of their development and the strategies appropriate to these different stages; • recognise the particular challenges that face managers engaged in strategic decision making in the public and not-for-profit sectors
6. L06 • analyze how technology affects industry structure and competition; • Identify the factors that determine the returns to innovation, and evaluate the potential for an innovation to establish competitive advantage; • formulate strategies for exploiting innovation and managing technology;
7. L07 • understand what determines firm boundaries and the shifts in firm boundaries over time; • comprehend the rationale behind multi-business activity and the potential benefits and costs of extending the horizontal or vertical scope of a firm; • be able to evaluate the advantages and disadvantages of changing a firm’s scope and the different ways of exploiting opportunities for value creation;
8. L08 • Discern patterns of internationalization; • Analyse the implications of a firm’s national environment for its competitive advantage; • Formulate strategies for exploiting overseas opportunities, including overseas market entry strategies and overseas production strategies; • Formulate international strategies that achieve an optimal balance between global integration and national differentiation; • Design organizational structures and management systems appropriate to the pursuit of international strategies.
9. L09 • Understand the basic principles of organizational design; • Be aware of different types of organizational structure and their fit with particular tasks and business environments; • Comprehend the role of management systems in the coordination and control of corporations; • Understand the role that organizational culture plays in the way strategy is realized in practice
10. L10 • Familiarize students with some of the key changes that have occurred in the business environment in recent years; • Enable students to understand why the 2008 financial crisis has led to calls for change in a number of areas of management practice; • To raise students’ awareness of some of the latest development in strategic thinking; • To alert students to the forces that are driving changes in organizational design; • To raise students’ awareness of the approaches and initiatives that are being developed by firms in response to turbulence in the business environment.

Program Outcomes

1. 1. Analyzes, compares, and synthesizes advanced theoretical and applied knowledge in subfields of civil engineering.
2. 2. Identifies a problem in the field, formulates a research question, collects and analyzes data, and draws conclusions using scientific methods.
3. 3. Develops innovative solutions by applying modeling, analysis, and interpretation skills to complex engineering problems.
4. 4. Designs new systems, processes, or materials by considering real-world constraints such as economy, environment, sustainability, and safety.
5. 5. Plans laboratory or field studies, collects data, performs statistical analysis, and derives scientific results.
6. 6. Effectively uses modern analysis and design software, information technologies, and measurement tools in civil engineering applications.
7. 7. Recognizes, interprets, and integrates relationships between civil engineering and other engineering or scientific disciplines.
8. 8. Acts in accordance with ethical principles, demonstrates professional responsibility, and evaluates the societal impacts of engineering practices.
9. 9. Communicates research and engineering outcomes clearly and effectively through written, oral, and visual means.
10. 10. Works effectively in intra- and interdisciplinary teams and assumes leadership roles when necessary.
11. 11. Follows, critically evaluates, and continuously improves professional knowledge and skills through lifelong learning.
12. 12. Evaluates the environmental, sustainability, and societal impacts of engineering practices and develops responsible solutions.

Po-Lo Matrix