Year
2021Credit points
10Campus offering
No unit offerings are currently available for this unitPrerequisites
NilIncompatible
MGMT640 Strategic Management and Decision Making
Teaching organisation
3 hours per week (two hours of lectures and one hour of tutorial) for 12 weeks or equivalent in intensive mode or online.Unit rationale, description and aim
Knowledge about strategic management is essential in successfully determining the direction of an organisation’s future in a dynamic environment. This unit provides the conceptual frameworks and skills required by management for effective strategies for sustainable competitive advantages. Strategic management includes the formulation and implementation, as well as the process of control and review of strategic direction of an organisation. Using a distinctly global, ethical and practical approach to business, the aim of this unit is to provide students with strategic management knowledge in order to create economic and social values which enable a balanced development of organisations and stakeholders, business and society and common good.
Learning outcomes
To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.
Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.
Explore the graduate capabilities.
On successful completion of this unit, students should be able to:
LO1 - Design and implement strategies, and build decision-making abilities to generate creative and ethical decisions to achieve the common good (GA2, GA5)
LO2 - Analyse strategic business environments and critically develop the process of formulation, implementation, evaluation and communication of sustainable strategies in national and global settings to responsibly solve managerial problems (GA5, GA6)
LO3 - Distinguish and critique different means by which organisations achieve competitive advantage for sustainability(GA4, GA5)
LO4 - Critically evaluate complex issues related to strategic management processes and communicate this to various stakeholders to achieve competitive advantage for sustainability (GA5, GA9)
LO5 - Reflect, synthesise and evaluate domestic and international organisational strategies in a variety of industries and circumstances (GA5, GA8)
Graduate attributes
GA2 - recognise their responsibility to the common good, the environment and society
GA4 - think critically and reflectively
GA5 - demonstrate values, knowledge, skills and attitudes appropriate to the discipline and/or profession
GA6 - solve problems in a variety of settings taking local and international perspectives into account
GA8 - locate, organise, analyse, synthesise and evaluate information
GA9 - demonstrate effective communication in oral and written English language and visual media
Content
Topics will include:
- Introducing strategy and strategic thinking
- Strategic management process
- Business environmental analyses
- Business competitive advantage for sustainability
- Ethical issues in strategic management for the common good
- Business, corporate and global strategies
- Corporate governance for sustainability
- Implementation, change and organisational sustainability
- Global issues in strategic management
Learning and teaching strategy and rationale
Learning in this unit will require three-hour face-to-face workshop in specific physical location/s. Students will have face-to-face workshop to achieve the learning outcomes. The following technology assistance will be accessible to students online:
- unit outline;
- notices/announcements;
- assessment information, submission, marking and return of results/feedback;
- learning resources (readings, direction to further sources of online information, lecture slides, audio and video recorded material); and
- Interactive online self-study activities and quizzes
Assessment strategy and rationale
Assessment is an integral part of the learning process. Assessment tasks in MGMT605 are aimed at developing and measuring student’s achievement of both the learning outcomes and graduate attributes noted above. In this unit to achieve the learning outcomes, three (3) main pieces of summative assessment are used. The first piece of individual based assessment focusses on developing contemporary strategic management concepts and theories and apply it in business decision making. The second assessment is group based and it aims to develop skills to plan and implement business strategies through a comprehensive case study. The third piece of assessment is a critical reflective journal, which draws on a student’s developed understanding of strategic management knowledge to achieve organisational performance for the common good.
Overview of assessments
| Brief Description of Kind and Purpose of Assessment Tasks | Weighting | Learning Outcomes | Graduate Attributes |
|---|---|---|---|
Assessment Task 1: Strategy report This assessment task consists of a 1000-word report on two contemporary strategic management concepts relating contents/topics from current published peer-review journals. This assessment requires students to analyse how the chosen concepts help businesses achieve ethical decisions and competitive advantages for the common good. Submission Type: Individual Assessment Method: Report Artefact: Written report | 30% | LO1, LO3 | GA2, GA4, GA5 |
Assessment Task 2: Case study This assessment task consists of a 1300-word written case study entailing the practical application of strategic management knowledge. This task requires student to work collaboratively to analyse global problems of the case study and generate research-based responsible and global solutions and recommendations and communicate this effectively to various stakeholders. Submission Type: Group Assessment Method: Case study report Artefact: Written report | 30% | LO2, LO4 | GA5, GA6, GA9 |
Assessment Task 3: Critical reflective journal This assessment task consists of a 1700-word written journal entailing the reflection and critical evaluation of strategic management knowledge. This task requires students to work autonomously to synthesise their knowledge in strategic management and their experiences to in order to shape themselves in the role of a manager. Submission Type: Individual Assessment Method: Reflective journal Artefact: Written journal | 40% | LO3, LO5 | GA4, GA5, GA8 |
Representative texts and references
The latest editions of:
David, FR, David, FR & David ME 2020, Strategic management: A competitive advantage approach, concepts and cases, 17th Edition, Pearson, UK.
De Wit, B 2020, Strategy: An international perspective, 7th Edition, Cengage, UK.
Hitt, MA,. Ireland, RD & Hoskisson, RE 2019, Strategic management: Competitiveness and globalization - concepts and cases, 13th Edition, South-Western Cengage, US.
Johnson, G. Whittington, R. Scholes, K. Angwin, D & Regner, P 2019, Exploring strategy – text and cases, 12th Edn, Pearson, UK.
Lynch, R 2018, Strategic management, 8th Edition, Pearson, UK.
Rothaermel, F 2020, Strategic management, 5th Edn, McGraw Hill, Australia.