Strategic managementLaajuus (5 cr)

Objective

The course aims for a student to (be able to):
1. Develop strategic thinking.
2. Apply theory and practice to analyse strategic issues.
3. Conduct strategic environmental analysis and identify implications.
4. Formulate a strategic plan.
5. Design and manage strategy execution.
6. Form a self-learning ability for strategic management.

Content

Basic Concepts of Strategic Management
Strategy and Strategic Thinking
Mission and Strategic Objectives
Analysis of External Strategic Environment
Analysis of Internal Strategic Environment
Strategic Evaluation and Selection Process
Competitive Strategy
Expansion Strategy
Mergers, Acquisitions, and Alliances
Ethics and Strategy

Learning objectives of the course
You recognize the role and significance of strategy and strategic management as a future success factor for companies and public organizations. You master the basic concepts of strategic thinking, identify different schools of strategic management and become familiar with strategic thinking in the digital age. You internalize the significance of strategy as a tool for developing operations, identify the different stages of the strategy process, master tools and methods related to strategy structuring and implementation. You can evaluate different strategies and have the cognitive skills to carry out strategic analysis, choose a strategy and implement it.

Learning outcomes
After you complete this course:

• You will understand strategic thinking, and you will be able to familiarize yourself with strategic management and strategy implementation.
• You can analyze the current situation and anticipate the future of their field and changes in the operating environment.
• You recognize the role and significance of strategy and strategic management as a future success factor for companies and public organizations.
• You master the basic concepts of strategic thinking, identify different schools of strategic management, and become familiar with strategic thinking in the digital age.
• You internalize the significance of strategy as a tool for developing operations, identify the different stages of the strategy process, and master tools and methods related to strategy structuring and implementation.
• You can evaluate different strategies and have the cognitive skills to carry out strategic analysis, choose a strategy, and implement it.

Assessment criteria, satisfactory (1)

0 (Failed) The student does not meet the level of approved competence.
1 (Sufficient): The student knows about the strategic planning process and its basic elements
2 (Satisfactory): The student can conduct industry analysis, value chain analysis and SWOT analysis.

Assessment criteria, good (3)

3 (Good): The student can build appropriate strategies for a company to gain competitive advantage.
4 (Very good): The student is also able to apply the concept of shared value creation in strategy development.

Assessment criteria, excellent (5)

5 (Excellent): The student recognizes changes in the environment and is able to adapt strategies to capture opportunities.

Materials

Other suggested reading materials for the course:

Hunger, J. D. & Wheelen, T. L. 2014. Essentials of Strategic Management. Pearson. (Available: https://janet.finna.fi/Record/jamk.993580564806251?sid=495445996 7)