Credit Points: 15

Prerequisite: BB103 Management Principles

Co-requisite: N/A

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

Learning Outcomes

At the completion of this unit students should be able to:

  1. Analyse the conceptual, theoretical and practical knowledge of strategic management

  2. Apply the theoretical models of strategic management such as Porter’s five forces, value chain and lifecycles to work based practices

  3. Articulate the key aspects and major processes of a strategic business plan

  4. Develop a strategic business plan

  5. Explain the role of leadership in changing organizational environment

These Unit Learning Outcomes are mapped onto AQF Level 7


Teaching Method

Lecture: 2 hours
Tutorial/Workshop: 1 hour

Assessment

Assessment Task
Learning Outcomes Assessed
Weighting
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%
Total   100%

*refer to learning outcomes above.

Textbook

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


Reference Reading

  • 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
             

Legend

Colour coding    

Extent covered

                                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