Credit Points: 15
Prerequisite: BB103 Management Principles
Workload: 36 contact hours
Campus: Melbourne, Sydney
Aims & Objectives
This is a third-year core unit offered in the Bachelor of Business Management. For further information refer to: http://www.mit.edu.au/study-with-us/programs/bachelor-business.
In today’s rapidly changing business environment, managers are increasingly required to justify their business decisions. This highly practical and interactive unit will provide students with a comprehensive understanding of techniques and models applied in organisations to obtain sustainable competitive advantage. Students will learn to prepare a strategic business plan, examining the key strategic business areas that a successful plan must consider, plus take into account equally important issues such as core values, purpose and mission statements. In addition, students will gain stronger insights into competitive strategies, value chains and life cycles. The focus in this unit will be on developing the ability of students to understand, evaluate and effectively apply strategic management knowledge to modern organisations.
Unit topics include:
- The strategic planning process
- Core values, purpose and mission
- Situation analysis and competitive strategies, including Porter’s five forces.
- The value chain and lifecycles
- People management issues
- Monitoring the plan
- Strategic plan simulation
At the completion of this unit students should be able to:
Analyse the conceptual, theoretical and practical knowledge of strategic management
Apply the theoretical models of strategic management such as Porter’s five forces, value chain and lifecycles to work based practices
Articulate the key aspects and major processes of a strategic business plan
Develop a strategic business plan
Explain the role of leadership in changing organizational environment
These Unit Learning Outcomes are mapped onto AQF Level 7
Tutorial/Workshop: 1 hour
Learning Outcomes Assessed
|Contribution in class||a-e*||10%|
|Situational Analysis Report (Individual)||a&b||15%|
|Strategic Business Plan (Group)||a-e*||20%|
|Strategic Business Plan Presentation (Group)||a-e*||15%|
|Final Examination (3 hours)||a-e*||40%|
*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:
Hill, C. and Jones, G. (2016). Strategic Management: Theory & Cases: An Integrated Approach, 12th ed. U.S.A: Cengage Learning
- Carpenter, M.A., Sanders, W.M. G., Rice, J., & Martin, N. (2010). Strategic management: A dynamic perspective concepts and cases. Frenchs Forest, NSW: Pearson Australia
- David, F.R. (2009). Strategic Management Concepts and Cases, 12th ed. NJ: Pearson Prentice Hall
- Dess, G.G., Lumpkin, G.T., & Eisner, A.B. (2008). Strategic Management Creating Competitive Advantages, 4th ed. Sydney: McGraw-Hill Irwin
- Faulkner, D.O., & Campbell, A. (2003). The Oxford handbook of strategy. Oxford: Oxford University Press
- Grant, R.M., Butler, B., Hung, H., & Orr, S. (2011). Contemporary strategy management –An Australian perspective. Milton, QLD: John Wiley & Sons Australia Ltd.
- Haberberg, A., & Rieple, A. (2008). Strategic Management: Theory and application. Oxford: Oxford University Press
- Henry, A.E. (2011). Understanding Strategic Management. Oxford: Oxford University Press
- Hitt, M.A., Ireland, D.R., & Hoskisson, R.E. (2009). Strategic Management Competitiveness & Globalization Concepts and Cases, 9th ed. Mason, OH: South-Western Cengage Learning.
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|