Strategic Management

Course	V-712-STJO
Semester	20243
ETCS	7,5
Core	No

Year	1. year
Semester	Fall 2024
Level of course	N/A
Type of course	Elective
Prerequisites	No prerequisites.
Schedule	No schedule found.
Lecturer	Sveinn Viðar Guðmundsson
Content
The purpose of this course is to push students to think strategically in different situations. Therefore the course provides students with essential knowledge in strategic management and develops skills and competences to apply this knowledge. The following topics and concepts are covered: General Management involves the coordination and integration of the efforts within the different functional areas of an organization for dealing with an uncertain future. This comprises formulating a strategy for each individual business of the firm, formulating a corporate and business strategy and implementing these strategies. In this course we will focus on the formulation of a competitive strategy for a business of a firm. Competitive strategy formulation involves understanding the business you are in, determining how to positioning your strategic unit within this business environment, and, developing the capabilities to compete in this environment. The course introduces the students to a coherent framework that can be used to analyze the competitive environment of a firm and its internal strengths and weaknesses. Students are expected to be able to deal with the strategy concepts introduced. Nevertheless, there remain tools, which should aid students in becoming better strategic thinkers. The ultimate objective is to formulate a strategy for a business that will shape the future environment of the firm and will aid a firm with its strategic decision-making in this future.
Learning outcome - Objectives
Knowledge: Collection of facts, concepts, theories and techniques acquired by students. The student should: - Understand the role of strategy in general management of organizations - Know main strategy concepts for organizations - Understand the consequences of an uncertain future for an organization - Understand the role of an organization in its competitive environment - Know the concepts of strengths and weaknesses of organizations - Are familiar with techniques to identify and analyze strengths and weaknesses of organizations - Are familiar with techniques and frameworks to analyze the competitive environment of organizations. Skills: The ability to apply knowledge to different settings in strategic management. The student should be able to: - Identify and analyze the strengths and weaknesses of organizations - Analyze the competitive environment of organizations - Analyze the strategy in place and identify room for improvement Competences: The ability to apply knowledge and skills in strategic management. The student should be able to: - Apply strategy concepts to an organizational context - Formulate individually and in teams a competitive strategy for an organization - Actively shape the strategy of an organization - Develop and implement strategic decisions in an organization - Think strategically and deal with an uncertain future.
Course assessment
Reading material
No reading material found.
Teaching and learning activities
Language of instruction	English