Business Strategy
Unit code: HBM240
| Credit points | 12.5 Credit Points |
| Duration | One teaching period |
| Contact hours | 36 hours |
| Prerequisites | Nil |
| Corequisites | Nil |
Related course(s)
A unit of study in the Bachelor of Business Administration suite of programs.
Aims and objectives
The aim of this unit is to give learners the knowledge and understanding of how a business unit can strategically organise and plan for likely future outcomes in order to be successful. This unit builds on learners' existing knowledge of the basic tools of business analysis and enhances this so that the learners think strategically. Learners will be introduced to further analysis tools needed for the process of strategic planning. They will be able to explain the significance of stakeholder analysis and carry out an environmental and organisational audit of a given organisation.
Learners will learn how to apply strategic positioning techniques to the analysis of a given organisation and prepare a strategic plan based on previous analysis. They will also learn how to evaluate possible alternative strategies (such as substantive growth, limited growth or retrenchment) and then select an appropriate future strategy for a given organisation. Finally, learners will compare the roles and responsibilities for strategy implementation and evaluate resource requirements for the implementation of a new strategy for a given organisation. Learners will then be able to propose targets and timescales for implementation and monitoring of the strategy in a given organisation.
After successfully completing this unit, you should be able to:
- Understand the process of strategic planning
- Formulate a new strategy
- Understand approaches to strategy evaluation and selection
- Understand how to implement a chosen strategy.
Generic skills outcomes
During this unit students will receive feedback on their:
- Analysis skills
- Communications skills
- Critical thinking
- Ability to tackle unfamiliar problems
- Ability to work independently
Content
Strategic planning process:
- Strategic contexts and terminology, strategic thinking, planning systems, strategic planning issues, strategic planning techniques
New strategy formulation:
- Stakeholder analysis, environment auditing, strategic positioning, the organisational audit
Strategy evaluation and selection
- Market entry strategies, substantive growth strategies, limited growth strategies, disinvestment strategies, strategy selection
Strategy implementation
- The realisation of strategic plans to operational reality, resource allocation, review and evaluation
