Strategic Management

22C9008

Bachelor

Englisch

5.0

nur Sommersemester

1 Semester

Firstly, the goal of this module is to contribute to the development of the student’s knowledge and understanding of strategic management as applied in the Event Industry and non-subject related competences in terms of instrumental, interpersonal and systemic learning outcomes to make the student employable today and tomorrow.

Secondly, the goal of this module is to implement business strategies and analyse their consequences through a management simulation game.

Strategic position:  

• The characteristics of strategic decisions and the strategic management model
• The external environment and how it influences strategic planning (incl. PESTEL framework)
• The competitive environment and Porter’s Five Forces model
• Environmental and competitive analyses including strategic group maps
• Internal strategic capability (including strengths and weakness analysis, network activity systems, benchmarking and the VRIO framework)
• The role of stakeholders and corporate governance

Strategic choices

• The strategy clock and competitive advantage
• Business strategies and the generic strategies framework
• The influence of organisational culture on strategic choices
• Strategy development directions in the event industry 
• The BCG growth matrics and the management of corporate portfolios
• International strategies and how they can lead to a competitive advantage

Strategy in Action 

• Development of strategies and the alignment between strategy, structure and systems
• Strategic implementation of organisational structures and systems 
• Managing change through effective leadership
• Effective strategy implementation

Business Simulation

• Make strategic business decisions while playing a business game

Der Arbeitsaufwand für das Modul umfasst insgesamt 150 Stunden (siehe auch "ECTS-Leistungspunkte und Benotung").

• Portfolio-Prüfungsleistung

The portfolio examination consists of:

PFP1: a one-hour exam (60%), a presentation (10%) and a written project report (30%)
PFP2: a one-hour exam (60%) and a seminar paper with oral and written parts (R; 40%)
PFP3: a one-hour exam (60%) and a presentation (40%)

Written examination: in accordance with the valid study regulations

Presentation: approx. 15-20 minutes

Seminar paper: approx. 5-10 pages/ approx. 10 -15 minutes

Written project report: approx. 15-20 pages

The requirements are specified in the relevant class.

none

THE STRATEGIC POSITION- Introduction

After successfully completing this module, students should be able to

• describe the characteristics of strategic decisions and define what is meant by strategy and strategic management.
• consider ways to express the strategic purpose of organisations in terms of values, vision, mission, and objectives.
• summarise the strategy of an organisation in a “strategy statement”.
• explain the elements of the strategic management model, highlighting the interactive nature between the elements in the model.

THE STRATEGIC POSITION – Environment 

After successfully completing this module, students should be able to

• describe the forces in the macro-environment of an event agency by using the PESTEL framework.
• construct alternative scenarios to address possible environmental changes.
• use the five forces framework to identify the sources of competition for an event agency.
• identify strategic groups, market segments and blue oceans thinking and use them to recognise strategic gaps and opportunities in the event market.
• based on the five competitive forces and complementors and network effects define industry attractiveness and identify ways of managing these.

THE STRATEGIC POSITION- Strategic Capability 

After successfully completing this module, students should be able to

• identify organisational resources and capabilities and how these relate to the strategies of organisations.
• analyse how strategic capability might provide sustainable competitive advantage based on their value, rarity, inimitability and organisational support (VRIO).
• understand the following tools in diagnosing strategic capability: network; activity systems, benchmarking, and SWOT analysis.

THE STRATEGIC POSITION- Stakeholders, culture and history

After successfully completing this module, students should be able to

• undertake stakeholder analysis to identify the power and attention of different stakeholder groups.
• identify differences in the corporate social responsibility stances taken by organisations and how ethical issues relate to strategic purpose.
• analyse how history influences the strategic position of an organisation.
• distinguish between different types of culture.
• explain the use of the cultural web to diagnose culture.
• identify organisations that may be experiencing strategic drift.

STRATEGIC CHOICES-Business strategy and models

After successfully completing this module, students should be able to

• assess business strategies in terms of the generic strategies of cost leadership, differentiation and focus and hybrid strategy.
• explain bases of achieving competitive advantage in terms of “routes” on the strategy clock.
• apply principles of game theory and the benefits of competitorsvs cooperation to business strategy.
• identify and apply business models components: value creation, configuration, and capture.
• access how multi-sided platforms compete.

STRATEGIC CHOICES- Corporate strategy 

After successfully completing this module, students should be able to

• understand and explain the various strategy development directions available to an organisation.
• distinguish between different diversification strategies – related and conglomerate diversification.
• explain the BCG and parenting matrix for managing corporate portfolios.

STRATEGIC CHOICES - International Strategy 

After successfully completing this module, students should be able to

• assess the internationalisation potential of different markets.
• identify sources of competitive advantage in international strategy.
• distinguish between four main types of international strategy.
• assess the merits of different market entry strategy modes, including joint ventures, licensing and franchising and wholly owned subsidiaries.

STRATEGY IN ACTION- Strategy development processes and organising for success 

After successfully completing this module, students should be able to

• analyse main structural types in event organisations.
• recognise how the three strands of strategy, structure and systems should reinforce each other in organisational configurations and the managerial dilemmas involved.

STRATEGY IN ACTION- Leadership and strategic change 

After successfully completing this module, students should be able to

• identify and assess different leadership styles as related to strategic change. Discuss event managers as motivators, decision makers and leaders.
• identify types of required strategic change.
• identify the approaches, pitfalls and problems of leading different types of strategic change.

MANAGEMENT SIMULATION GAME

After successfully completing this module, students should be able to

• make strategic business decisions in a realistic environment.
• learn principles of strategic and business administration by designing strategies, goals and implementing the goals into decisions.
• practice strategic thinking .
• experience decision-making processes within a team while managing time constraints.

Students who successfully complete this module should be able to

• apply the strategic management principles in the event management industry. This is achieved through being able to apply their instrumental and communicative skills and competencies to both short and longer case studies and challenges/scenarios posed during the lecture time.
• demonstrate an understanding of the different strategic concepts and related implications and apply these techniques in specific business cases.

Students who successfully complete this module should be able to apply the strategic management principles in the event management industry. This is achieved through being able to apply their instrumental and communicative skills and competencies to both short and longer case studies and challenges/scenarios posed during the lecture time. The students should also be able to demonstrate an understanding of the different strategic concepts and related implications and apply these techniques in specific business cases.

Students who successfully complete this module should be able to

• bonduct additional independent research on key aspects pertaining to strategic management.
• search for additional contemporary theory and empirical studies to further supplement the topics in strategic management.
• explain and operationalise key contemporary theory and empirical findings relevant to topics in strategic management.
• apply the contemporary and theory and empirical findings in a critical and innovative manner to analysing case studies and scenarios.

Students who successfully complete this module should be able to

• communicate effectively on any of the strategic management topics covered in this module by having the opportunity to discuss strategic management challenges and solve problems based on case studies/scenarios in groups during the lecture time.
• present their feedback on group discussion and/or case studies during the lecture time.
• interact individually during the lecture time based on the open discussions on specific topics and challenges and/or case studies.
• present their topic paper on their assignment during the lecture time.

Students who successfully complete this module should be able to critically reflect on their ability to

• work in a team.
• organise and manage their time and themselves.
• collect, analyse and evaluate existing and new information.
• communicate effectively.
• solve problems and challenging contexts.
• reflect on their professional actions on being more culturally and aesthetically aware and sensitive. 
• reflect on being a responsible corporate citizen by being mindful of societal expectations and consequences and ethical decision-making.
• justify their own professional actions with theoretical and empirical knowledge gained in this module.
• assess their own competencies (knowledge, skill and attitude), reflect autonomous and think creatively.
• develop their own professional self-image, recognise a general framework of acting professionally and be mindful of the impact of ethical decision-making. 

The strategy course is intended to integrate the prior course work of the IEMS programme. The modules that are related before this module are the following:

• Microeconomic Theory and Policy
• The Global Event Market
• Principles of Marketing
• Principles of Business Management
• Finance, Risk and Legal Issues in Event Management
• Cultural Management

The modules that are related to this course after the module has been presented are the following:

• Human Resource Management and Leadership
• Sustainable Event Management and Evaluation
• Event Design and Value Creation
• Macroeconomic Theory and Policy
• Event Marketing and New Media
• Financial Management
• Entrepreneurial Management

• International Event Management Shanghai (IEMS), B.A. (01.09.2024)

• Werner, Kim

• Louw, Mattheus