Credit Points: 15
Prerequisite: BB103 Management Principles, BB104 Introductory Accounting, BB105 Marketing Principles, BN105 Information Technology for Users in Organisations, BB313 Critical Thinking and Decision Making
Workload: 36 contact hours
Campus: Melbourne, Sydney
Aims & Objectives
This is a third-year Capstone Core Unit in the Bachelor of Business, majors in Accounting, Marketing and Management. A business strategy is the means by which an organisation sets out to achieve its desired ends (objectives). It can simply be described as a long-term business planning. Typically, a business strategy will cover a period of about 3-5 years (sometimes even longer).
BB320 Integrated Strategy Capstone is designed to be an exciting and challenging final trimester unit for Bachelor of Business students, across the three majors of accounting, marketing and management. It is intended that the students will work collaboratively in syndicates, across the three majors. It is first and foremost a course about ‘strategy’ and about ‘managing for success.’ Students will be exposed to both the current theory and the practice of corporate and business strategy. Particular emphasis is placed on how strategy concepts can aid in analysing, formulating, and implementing business strategy. This unit is also designed to encourage students to apply knowledge that they have acquired in their previous coursework to real life business and management issues. In particular, students will be introduced to issues confronted by upper level managers who are concerned about the overall performance of a firm through a business strategy simulation game.
The computer-based competitive strategy simulation, called Business Strategy Game (BSG), provides students with the opportunity to gain hands-on experience in running a business as a member of a senior management team. In this capstone units all three School of Business Bachelor streams will come together and work as business syndicates consisting of a mix of management, marketing and accounting student. No matter what a student’s major is, accounting, management or marketing; the experiential learning and content of this unit has all the ingredients to be the best unit MIT students have taken - best in the sense of learning about business, holding students’ interest from beginning to end, enhancing their powers of business judgment and delivering on employability skills relevant to the contemporary workplace. Furthermore, students will improve their action-oriented, decision-making approach based on rigorous analysis and critical thinking.
Unit topics include:
- Strategy and its importance to organisations;
- Evaluation of internal and external organisational environments;
- Competitive strategy options;
- Strategy for competing internationally and globally;
- Building organisational capability.
At the completion of this unit students should be able to:
- Assess an organisation’s present business position, its long-term direction, its resources and competitive capabilities, the quality of its strategy, and its opportunities for gaining sustainable competitive advantage.
- Formulate business strategies, reason carefully about strategic options, use what-if analysis to evaluate action alternatives, and make sound strategic decisions.
- Understand, explain and analyse the managerial tasks associated with implementing strategies and the range of actions managers can take to successfully implement strategy.
- Appreciate and assess how and why ethical principles, core values, and socially responsible management practices matter greatly in the conduct of a company’s business.
- Apply managerial judgment in combination with analyses to assess business situations and make strategic recommendations to achieve effective outcomes in a global market environment.
Tutorial/Workshop: 1.5 hours
Learning Outcomes Assessed
|Contribution in class||a-e*||10%|
|Literature Review (Individual)||c||20%|
|In-Class Online Quiz (Individual)||c&e||10%|
|Simulation Performance (Syndicate)||a-e*||10%|
|Capstone Report & Presentation (Syndicate)||a-d*||40%|
|In-Class Online Test (1 hour)||a-e*||10%|
*refer to learning outcomes above.
Note: Students are required to purchase the prescribed text book and have it available each week in class.
Prescribed Text Book:
Thompson, A.A. Peteraf, M.A. Gamble, J.E. Strickland, A.J. (2016), Crafting and Executing Strategy – the Quest for Competitive Advantage Concepts and Cases (20th ed.). New York: McGraw Hill Education.
De Wit, B., Meyer, R., (2014), Strategy: An international perspective, Cengage Learning, 5 ed.
De Wit, B., Meyer, R., (2014), Strategy synthesis, Cengage Learning, 5 ed.
Formisano, R., (2003), The manager’s guide to strategy, McGraw-Hill
Hough, J., (2011), Crafting & executing strategy, McGraw-Hill, 1 ed.
Peng, M, (2013), Global strategy, Cengage Learning, 3 ed.
Robert, M., (1997), Strategy pure & simple II: How winning companies dominate their competitors, McGraw-Hill
Watson, D., (2000), Managing strategy, McGraw-Hill
Adopted Reference Style: APA can be found in MIT library referencing
MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:
|Ability to communicate||Independent and Lifelong Learning||Ethics||Analytical and Problem Solving||Cultural and Global Awareness||Team work||Specialist knowledge of a field of study|
|The standard is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations|
|The standard is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations|
|The standard is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations|
|The standard is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by activities such as lectures or tutorials|
|The standard is not considered, there is no theory or practice or activities associated with this standard|