STRATEGIC MANAGEMENT

The course is one of the core courses of the degree programme in Economics and management (http://www.unive.it/data/32461/ ). The course will introduce the basic concepts of business strategy, with a special emphasis on the relationship between resources and capabilities, corporate strategy and business strategy. The course is designed specifically not only to introduce students to key strategy concepts but also aims to help students to integrate and apply their prior learning to various business situations. The course aims to support Economics and Management programme objectives with a solid grounding in technological innovation and cross-functional challenges.

The course will enable students to critically analyze concrete examples of business strategy and how firms are facing the challenges of global competition. In particular, students will be expected to be able to:
1 Knowledge and understanding
- knowledge of the fundamental principles of strategic management;
- knowledge of the theoretical frameworks apt at understanding and explaining strategy formulation and implementation,
- Knowledge and understanding of the different theoretical approaches to the study of the relationship between resources and capabilities, corporate strategy and business strategy.
2 Applying knowledge and understanding
- application of the fundamental tools and models on strategic planning;
- analyze and evaluate critically real-life company situations and develop creative solutions, using a strategic management perspective (individually and in a team setting).
3 Making judgments
- know how to frame a hypothesis and which is the most appropriate tool or model to apply;
- ability to critically evaluate the most suitable strategic options.

Basic knowledge of the theory of the firm, microeconomics, and basic management concepts will be taken for granted. Those who have not passed Principles of Management and International Accounting exam, cannot take this exam. Please consult the following page: https://www.unive.it/web/it/1188/esami

The course program includes presentation and discussion of the following subjects:
The Concept of Strategy
Industry Analysis
Resources and Capabilities
The Nature and Source of Competitive Advantage
Industry Evolution and Strategic Change
Technology-Based Industries and the Management of Innovation Corporate Strategy
Cases

Textbook:
Foundations of Strategy
Authors: Robert M. Grant, Judith J. Jordan ISBN: 978-1-118-91470-0
Press: Wiley
Chapters: 1-7

Further readings:
Strategic Management of Technological Innovation
Author: Melissa A. Schilling
Press: McGraw Hill
Chapters: 1-4

Further reading material (see moodle)

The exam consists of a written and an oral part (the oral part is optional).

Written part of the exam
• Traditional pen-and-paper exam; no external help allowed.
• 10 multiple-choice questions to be answered in 30 minutes. Each question has four options.
• Correct answers award 3 points. Blank answers are worth 0 points. Wrong answers are worth −1 point.
Oral part of the exam
Students who are not satisfied with their written exam grade can register for an optional oral exam to improve their grade (or, for those who score 30/30 on the written exam, to be considered for a laude distinction).
The oral exam consists of a single question. If the answer is exhaustive, the student can receive up to three additional points. If the answer is incorrect or insufficient, the student may have their grade reduced by up to 3 points.
Bonus points
During the course, there will be up to four case study discussions and/or guest lectures by business professionals. Students will be asked to write a short essay addressing one question for each case study or lecture.
Students who participate in the discussions/lectures and submit the corresponding essay will receive bonus points added to their final exam grade. Bonus points are valid only the first time a student registers for the written exam. If the student passes the exam, the bonus points will be added to the test score.
Sample exam questions
Below are three questions that reflect the type of questions you might encounter on the exam. The questions have three different levels of difficulty, ranging from very easy to difficult.
Note: Answers are not provided; you are encouraged to find the correct answers on your own.

Q1
The vision of a corporation is made explicit in order to coordinate executives’ and managers’ decisions. How?
A. By outlining rules for employee behavior.
B. By providing a common long-term direction for the entire organization.
C. By defining expected financial targets.
D. By describing the KPIs used to assess intermediate goals.
Q2
Porter’s generic strategies (cost leadership versus differentiation) are often presented as alternative strategies. Are they actually alternative strategies?
A. Not necessarily. Firms can combine elements of both, although doing so is risky and very difficult.
B. Yes. A firm must always choose one; pursuing both simultaneously is almost impossible.
C. Yes. Pursuing both strategies implies a non-coherent market approach, damaging the company’s reputation.
D. No. Cost advantages and differentiation can reinforce each other with an appropriate production system.

written and oral

The instructor is responsible for ensuring the authenticity and originality of all examinations and coursework. In cases of suspected academic misconduct, an additional on-site assessment may be required during the exams, which may differ from the standard format.

Regarding the grading scale see MOODLE

The course teaching method is based on traditional lectures, case study teaching, class discussions.
Teamworks require students to analyze real-world case studies dealing with some of the most important theoretical topics covered in the course, to
collaborate to solve strategic problems proposed, and to discuss solutions in the classroom, with the aim to better understand the application of models, tools and theoretical approaches to real-world business cases.

Ethics, Responsibility, Sustainability (ERS)
The course will frame the firm as a social entity. Companies are increasingly accepting responsibilities that extend well beyond the immediate interest of shareholders for ethical reasons and for reasons of self interest. Among these latter: sustainability (it is in both society’s and the firm’s interests to sustain the ecosystem), reputation (CSR enhances the firm’s reputation with consumers and third parties); license to operate (firms need the approval and support of the constituencies on which they depend)

Internationalization
The course will frame strategic management in the broader context of modern firms' business environment that goes beyond national borders. This will contribute to develop potential international managers.

Connections with practice
The course will host alumni and managers that will help students to connect theory to practice.

This subject deals with topics related to the macro-area "Circular economy, innovation, work" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development