325-228 Principles of Strategic Management

Students must have completed at least 75 points of level-1 subjects (commerce or non-commerce).

This subject introduces the main elements of corporate and business strategy that enable firms to achieve and maintain competitive advantage in a dynamic business environment. The two key questions are 'what business(es) should the firm be in?' and 'how should it compete?'. Beginning with vision and values, the subject examines resources, capabilities and competencies and how firms can best mobilise these to position themselves in competitive rivalry. The key issue of corporate strategy is to identify the core business(es) in terms of sustainable tacit knowledge. Business strategy involves decisions as to how to compete with rivals in that industry through leveraging cost and differentiation strategies.

• High level of development: oral communication; written communication; problem solving; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.

• Moderate level of development: collaborative learning; team work; statistical reasoning; use of computer software.

A 2-hour examination (60%) and assignment(s) totalling not more than 4000 words (40%).