Business Strategy (GRAI012)

Course description

Business strategy is a critical component of business success. Identifying, setting and following long term direction for any business is essential in order to marshal limited resources in the most effective manner. Important aspects are not only the company’s competitive position in a market, but also a many internal and external issues, that company’s management must successfully navigate. To a large extend strategic work is about understanding these factors and reinterpreting them so that they become assets rather than restrictions. Strategy management concepts and techniques are studied during this course to address these issues. The course serves as an opportunity to develop skills for environmental and market analysis, understanding of the major business strategy issues, formulating business strategies and tactics. During this course participants not only learn about theoretical concepts, but experience first-hand issues of managing business in a competitive landscape via simulation.

Course aim

Students are going to discover knowledge and apply skills enabling them to help organizations to meet and manage significant threats and challenges. Students will learn how to analyze environment and company’s resources, generate strategic alternatives and to select the most appropriate alternative for particular circumstances. Students will learn and apply provide students the fundamental knowledge of strategic management concepts and techniques; to enable students to identify key problem in complex, comprehensive situation. The major responsibility of students in this course to make objective strategic decisions and present well supported recommendations for future action while justifying them through oral and written communication.

Learning outcomes

  • Knowledge and its application. Demonstrate ability to apply in decision making and problem solving of the elements of the strategic management process, research and theories. Integration and understanding of innovation as a key component of company’s competitiveness.
  • Research skills. Ability to analyze micro (market) and macro environments; implement an industry analysis and be able to apply strategic evaluation tools to understand business environment.
  • Special abilities. To be able to develop strategic options available for the company, to defend the recommendations. Evaluate the strategic rationale for each alternative and assess the risks for an organization.
  • Social abilities. Ability to work in and lead a team, to present work results in written or oral form, to be able to argue decisions.
  • Personal abilities. Develop personal and professional abilities, critical thinking, and creativity.