Strategic Management 6HO705 Module Handbook WINTER 2017 Sydney Moyo Lecturer [email protected] Academic Centre, BEL - 1Page 2 Module Title: Strategic Management Module Code: 6HO705 Number of Credits: 20 Credit Level: 6 Learning Hours: 200 MODULE DESCRIPTION Service sector organizations must recognize the need to stay abreast of changes in the external environment and remain goal focused to ensure company objectives are met in both the short and long term. Increasing competition, dynamic customer demand and the pace of technology have led to a realization that organizations need to flexible, agile and responsive to change. To this end, businesses need to identify and critically examine future developments within the service sector, and develop appropriate management strategies and actions to facilitate change. Organizations that are risk adverse will take longer to proactively meet the changing external environment and this module seeks to develop an awareness of the organizational approach to risk by analyzing appetite and maturity levels. The module aligns with the nationally recognized need for undergraduates to have a far deeper understanding and greater knowledge of international issues and general awareness of the global agenda. LEARNING OUTCOMES On successful completion of the module, students will be able to: 1. Critically analyze strategic and non-strategic decisions, positions and the differences between functional, business-level and corporate-level strategies. 2. Evaluate the role of risk, uncertainty, and trade offs play in strategic decision making. 3. Critically assess the need for change, develop strategies for managing change and monitor the change. INDICATIVE CONTENT • The process of strategic planning; the service sector business environment; current and future perspectives and challenges • Understanding the context of global strategic alliances, mergers and acquisitions • Globalization of markets and competition to include the phenomenon of both global and glocal markets combined with localized responses to Global integration.Page 3 • Global marketing, branding, standardization, advertising, positioning the role of media, business Internet space • Global financial management, project financing, currency fluctuations, global capital structures, funding control • Risk Management, Appetite and Maturity • Strategies for managing change • Managing culture in global organizations • Internationalization and diversification of organizations MODULE LEARNING AND TEACHING METHODS A variety of learning and teaching methods will be used including: classroom guidance using workshops, group work, case studies and critical reflection on your studies. The practice - based approach to learning integrate analysis and evaluation of strategic management planning in order to improve organizational effectiveness. These practical concepts will be explored in depth through studying weekly study of cases, articles and video presentations. Tutorial sessions will be contextualized to different hospitality industries to support related product and organizational development strategies, but these will be predominantly student-led to allow for further discussion, debate and independent thought of the topics covered in the module. The module will be delivered via integrated approaches such as case studies, academic articles, recommended videos. All the above resources will be accessed on Moodle be generic whilst the seminars. Tutorials will be contextualized to the subject or topics aimed at supporting students areas of interest.Page 4 MODULE OUTLINE W Lectures Tutorials Cloud Activity 1 Introduction to strategic management and strategy as practice Discuss strategies for managing hospitality case using strategy framework questions Class Activity ‘What’s your strategy for managing hospitality activities’ Raffles Case’ 2 Understanding strategic management & deliberate and emergent strategy Discuss Case Study ‘Northern European Tour Operator’ using Mintzberg’s five Ps Read Case study : NextJet’s Change Mission & link it to Strategy for managing knowledge 3 Mission & Vision : Objectives. Assessing Internal Environment Discuss articles creating mission statement & strategies & link to levels of strategic decision-making Watch Hilton Worldwide – Vision, Mission & Values & Case example – Hotels & Airlines 4 Analyzing External Environmental : Porter’s 5 Competitive Forces and Strategic Positioning – SWOT, TOWS Matrix Formative Presentations for Course Work 02 & discussion of firm competitive advantage Article reading: firm resources and competitive advantage & link to strategy framework 5 Strategic Tools 1 and auditing resources capabilities approach & manager compétences Course Work 02 Presentations and slides submitted to turnitin at 15h00 of presentation day Reflections on challenges of future Hotels and Tomorrow’s Hospitality Manager & CoAlignment Principle 6 Strategic Tools 11: Strategic choice, Porters Generic strategies and Ansoff growth strategies Group discussions on Learning Organizations and links to Strategic Tools Read articles : Leader’s role in building learning organizations and integrated risk management 7 Managing change and innovation and role of force field theory and related theories Formative Presentations for Course Work 01 and watch clip force field presentation Group Learning Sets select a business environment and evaluate external business analysis 8 Managing change at individual, business and corporate levels of impact Discuss challenges of getting managers to think strategically Submission report for Course Work 01. Meet submission deadline Friday 15h00 9 SM Learned & Reflected Stories SM Learned & Reflected Stories SM Learned & Reflected StoriesPage 5 *Content of above is subject to change… please refer to the course materials posted in Moodle. FORMATIVE ASSESSMENT These are assessments such as mini-presentations and written exercises that you as a student in a group or individually will undertake during lectures and in tutorial sessions. Feedback for these will be given during the tutorial sessions. These assignments are not formally graded but are designed to enhance the student learning experience and skills. In addition there will be an opportunity in Week 5 to share your findings in the class with peers and the module leader. The feedback will be useful to further develop the learning. Opportunities for individual consultation with the module leader would be made available by arranging an appointment to discuss your group presentation and individual report ideas. SUMMATIVE ASSESSMENTS Weighting: 100% Coursework Coursework 01: Assessing learning outcomes 1 & 2 Weighting: CW01: 50% / CW02: 50% Coursework 01: Assessing learning outcome 2 & 3 Coursework 02: Assessing learning outcome 1 & 2 COURSEWORK CW 1 (50%) The course work is an individual report where you are required to write a report on the case organization’s implementation of its chosen strategy. The report should analyze and evaluate the organizations chosen strategy highlighting its suitability given the competitive environment. The report should also address the consequential implications of change that will occur as the strategy is implemented and suggest how organizations could manage these changes so that the strategy is effectively implemented. The report should demonstrate selected strategic management process of a current business setting and evidence how intervention techniques have been applied for improving business effectiveness. The report is justified using analyzed and evaluated theories. This is a 2,500-word report.Page 6 The purpose of this report assignment is aimed at developing skills for proposing and implementing strategic analysis and changes that has an impact on hospitality business environments. Students will select and analyze hospitality industry workplace events, programs or services and propose strategic change for improvement. The report will be based on Learning outcome 2 & 3 The following structure for the individual report guideline is recommended: Title page: Include report title, students’ names and students’ numbers, module name and code, assessment task, lecturer’s name and date. Background: Description of the business situational context. Explanation as to why analyzing the organizational case strategy is important and explanation of the competitive environment. In approximately 200- 300 words, provide a basic background to the strategic communication plan, state the purpose of the report and provide overview of the rest of the content. Contents page: List the contents of the essay report (headings, sub-headings) and the page numbers they appear on. Presentation of main ideas: Analyze and evaluate your chosen organizational business strategy supported with theoretical perspectives and strategic processes. A. Analyze the organization’s external competitive environment to identify opportunities and threats. B. Analyze the organization’s internal operating environment to identify the organization’s strengths and weaknesses. Critical evaluation: Evaluate the implications and justifications on how strategies are implemented and outline how the changes are managed effectively. A. Justify how selected strategies are consistent with mission and major goals of the organization. B. Demonstrate how employed strategies are congruent and constitute a viable business model. C. Review how you have employed strategic management theories in your report? D. Reflect on the role you played either as an internal consultant or internal change agent in improving business or organizational effectiveness. Conclusion: In 300 – 400 words state the summary and evaluation of the ideas and statement of your own point of view with reasons. Explain why organizational managers should select the outlined strategies. *Support your report with examples and evidence of theories and models from academic literature readings of strategic management and intervention techniques discussed in class and module content.Page 7 * Support your report with 10 sources including articles, books or journals. Do not use dot.com-downloaded sources for support material. * Select a different hospitality business for this report than the one you used for your group work presentations. Referencing in the text: Reference all citations in the text of the assessment. Referencing section: Provide references on a separate page at the back of the report using Harvard method. Appendices: If appropriate, provide appendices at the end back of your report. FORMATTING GUIDELINES • All reports should be typed using 12p text, 1.5 line spacing and Arial/Times. • All reports should be spell checked. • All sources must be referenced using the Harvard Referencing System. • All full reference list of all sources and appendix supportive material must be included at the end of the report. WRITING GUIDELINES • Analysis: Examine and break information into parts by drawing conclusions, find evidence and examples to support your generalizations. • Evaluation: Make judgments about the value of information given in context by interpreting and justifying your perspectives. • Reflection: Consider connections you make within your organizational problems or issues and learning outcomes that are identified. Please save your file as 161_6EM705_CW01_LastName FirstName.doc Submission Date: The individual report (CW1) Friday of Week 8 (March 31st, 2017), not later than 15:00hrs. Only one electronic copy of your report should be submitted to Turn It In via Moodle. There is no provision for late submissions, unless otherwise approved by your Programme Leader. Please refer to the Programme Handbook for regulations pertaining to late submissions, resubmissions, and extenuating circumstances.Page 8 COURSEWORK CW 2 (50%) The course work is a presentation where as part a group of 4-5 persons you are required to prepare a presentation (15 minutes). The purpose of this presentation will address and focus on the impact and evaluation of the external environment of an industry organization (hospitality & events sectors), and the influence this has on strategic choice of the relevant organization. The task is not about describing strategic theories, but a proper integration of theory and selected plans or processes that demonstrate confidence use of strategic techniques. The task is justified through academic literature and strategic management or human resource management. You will demonstrate critical and integrative use of strategic theories to demonstrate how organizations within the hospitality and events industry are improved. Submission Date: The presentations (CW2) will take place in (Week 5 - week starting March 6th, 2017) The following considerations or questions will be useful guides for conceptualizing and evaluating problem issues of your organization. • Select a hospitality business company with the approval of module teacher. • What might be some of the common barriers to change and improvement this organization may face? • How can this organization make necessary changes without exposing the organization to unacceptable risks? • Why is it critical to propose strategic analysis and change to justify future added value and competitive advantage for the organization? The following process for of problem solving will be a useful guideline for planning key components that you intend to address for your presentation project. • Define the real problem: What do you want to solve? • Set objectives and performance indicators: What do you want to change? • Identify boundaries and constraints: Which specific part of the organization do you want your problem choice of solutions to focus on? • Identify, generate and prioritize options: Which kind of action plans will you generate from your selected options? • Develop, evaluate and choose options: What types of solutions are emerging or how do you propose addressing them? Consider their impact and implications. • Implement: What the action choices you have taken to solve your problems?Page 9 • Evaluate: How have monitored the progress of the solution, making further changes if necessary? What strategic lessons or learning do you draw for the future? • Application and integration: How have you applied strategic theories to link theory and practice of solving problems? * Selected a different hospitality business for this presentation than the one you will use for your report. The following structure for the presentation guideline is recommended: • Background of the chosen organization with a clear focus on vision and mission goals. • Identification and justification of chosen strategy level for change and how realistic and achievable objectives of change are delivered. • Evaluate role of risk, uncertainty, and trade offs applied in strategic decisionmaking. • Identification of impacts of change processes and justify how these are achieving the aim and objectives leading into diagnosing and managing change competitively. • Application of appropriate theoretical strategies and intervention methods for implementing proposed changes. • Critically evaluate the urgency for change to justify how selected intervention methods or models that foster realization of change. • Conclusion: To critically evaluate and reflect how the outlined theoretical and practical change models have provided support towards your strategic change plans. PLAGIARISM Individual assignments are what the title suggests – your own, individual pieces of work. Copying all or part of another person’s work is not permitted. If there is considerable likeness between assignments actions might be taken. Failure to fully reference all your sources could be construed by the marker/tutor as intentional and therefore as plagiarism. Plagiarism is a serious academic offence. It arises when a student is suspected of presenting work undertaken by other people as if it were their own. A student is liable to be found guilty of plagiarism if any work presented for individual assessment is found to contain the unacknowledged work of some other person or persons. If this involves deliberate misrepresentation of material as the student’s own in an attempt to deceive the examiners then the offence isPage 10 very grave indeed. All sources should be cited and all quotations from the works of other authors clearly identified as such. If a student’s work is found to contain verbatim (or near verbatim) quotation from the work of other authors (including other students past or present) without clear acknowledgement, then plagiarism has been committed whether or not the student intended to deceive the examiners. This rule also applies to the fraudulent provision of work by anyone for use by a student as his/her own. Students are permitted to get their academic work edited by a third party, however the original working document, any notes, the receipt from the editing company and / or any correspondence relating to the involvement of a third party, must be kept on hand until the final grade has been issued following the official publication of grades post Assessment / Examination Board. If there are any doubts about the originality of the student’s work, the student might be asked to defend their work orally before the final grade is awarded. Please do not leave anything to chance. SHMS has strict rules regarding plagiarism and has specialist electronic surveillance equipment to determine if the work is plagiarized. ATTENDANCE In line with the student participation contract, this contract will be considered as breached if the student has missed two sessions of the module without good cause, where one lecture or one tutorial or one lesson constitutes a session. In this case, the student receives a verbal warning. A third session missed incurs a final warning letter. In the event of a fourth session missed, the student will be deregistered from the module in question. Registers will be taken for every session.Page 11 THE UNDERGRADUATE GRADING SCALE % mark Mark Descriptors Class 70-100% Excellent Outstanding; high to very high standard; a high level of critical analysis and evaluation, incisive original thinking; commendable originality; exceptionally well researched; high quality presentation; exceptional clarity of ideas; excellent coherence and logic. Trivial or very minor errors. First 60-69% Very good A very good standard; a very good level of critical analysis and evaluation; significant originality; well researched; a very good standard of presentation; pleasing clarity of ideas; thoughtful and effective presentation; very good sense of coherence and logic; Minor errors only. Second Div 1 50-59% Good A good standard; a fairly good level of critical analysis and evaluation; some evidence of original thinking or originality; quite well researched; a good standard of presentation; ideas generally clear and coherent, some evidence of misunderstandings; some deficiencies in presentation. Second Div 2 40-49% Satisfactory A sound standard of work; a fair level of critical analysis and evaluation; little evidence of original thinking or originality; adequately researched; a sound standard of presentation; ideas fairly clear and coherent, some significant misunderstandings and errors; some weakness in style or presentation but satisfactory overall. Third 35-39% Unsatisfactory Overall marginally unsatisfactory; some sound aspects but some of the following weaknesses are evident; inadequate critical analysis and evaluation; little evidence of originality; not well researched; standard of presentation unacceptable; ideas unclear and incoherent; some significant errors and misunderstandings. Marginal fail. Fail 5-34% Very poor Well below the pass standard; a poor critical analysis and evaluation; no evidence of originality; poorly researched; standard of presentation totally unacceptable; ideas confused and incoherent, some serious misunderstandings and errors. A clear fail well short of the pass standard. 0-4% Nothing of merit Nothing, or hardly anything, of merit submitted. When no work has been submitted the NS notation will applyPage 12 INDICATIVE LEARNING RESOURCES The list below is by no means exhaustive and you will be expected to use journals both in the Learning Centre and electronically. There is also a wealth of information available on the Internet, but please use this wisely and selectively. Remember that this area of research covers many different subject areas so look beyond tourism, hospitality and events literature and try to assess the applicability of the wider literature. Strategic Management Resources Appelbaum, S.H, St- Pierre, N.Glavas, W. (1998) ‘ Strategic Organizational Change: the role of Leadership, Learning, Motivating and Productivity’, Management Decision, 36 (5) pp. 289 -301. Beardwell, I., Holden, L. & Claydon, T. (2004) Human Resource Management, a contemporary approach. (4th ed) Harlow. Prentice Hall. Blanchard, K (2007) Leading at a Higher Level: London: Pearson Education. Boella, M. J. (2005) Human resource management in the hospitality industry: an introductory guide. (8th edn) Oxford. Bratton, J. & Gold, J. (2007) Human resource management theory & practice. (4th edn) Basingstoke. Macmillan Business. Butterworth-Heinemann. Enz, C.A. (2010) Hospitality Strategic Management. 2nd edn. New Jersey: Wiley Press. Fuller, E.D. (2011) You Can’t Lead with your feet on the desk. New Jersey: Wiley. Golsorkhi, D. Rouleau, L. Seidl, D. & Vaara E. (ed) (2010) Strategy as Practice. Singapore: Cambridge University Press. Harvard Business Review (1999) Managing Uncertainty: Harvard Business School Press. Harrison, J.S.ENZ, C.A. (2005) Hospitality Strategic Management: New Jersey: Wiley. Hill, W.L and Jones, G. R. (2007) Strategic Management Theory, 7th edn. New York: Houghton Mifflin Company.Page 13 Hitt, M.A, Ireland, R. D. & Hoskingsson (2005) Strategic Management: Competitivess and Globalization, 6th edn. United Kingdom: Thomson- South Western. Houlden, B. (1996) Understanding Company Strategy, 2nd edn. Oxford: Blackwell. Irwin, D. (1998) Make Your Business Grow: Take a Strategic Approach: London: International Thomson Business Press. Irwin, D. (2002) Strategy Mapping in the Public Sector, Long Range Planning, Vol 35, pp. 637- 647 Johnson, B. (1997) Improving Your Organizations Success, Oxford: Pergamon Open Learning. Johnson, J. Whittington, R. Scholes, K. Angwin, D. and Regner, P (2014), Exploring Strategy. 10th edn. London: Pearson. Johnson, S.M.D. (1998) Who Moved My Cheese: New York: G.P. Putnam’s Sons. Kotter, J. P. (1996) Leading Change: Boston: Harvard Business School Press. Kotter, J. & Rathgeber, H. (2006) Our Iceberg Is Melting. Changing and succeeding under any conditions, Oxford: MacMillan. Mabey, C. and White, B.M (eds) (1993) Managing Change, 2nd edn. London: Paul Chapman Publishing Ltd. Mahoney J. T and Pandian R. (1992) ‘ The Resource – based view within the conversation of strategic management’, Strategic Management Journal, 13 (5), pp.363 -380. Manson, R. B. (2007) ‘The external environments effect on management and strategy’, Management Decision, 45 (1), pp.10-18. Marsick, V. J. & Watkins, K.E. (2003) ‘Demonstrating the value of an Organization’s Learning Culture: The Dimensions of the Learning Organization Questionnaire’, Advances in Developing Human Resources, 5 (2), pp. 132- 151. McGee, J. and Thomas, H. (ed.) (1986) Strategic Management Research, New York: John Wiley & Sons. Mintzberg H. and Waters J. A. (1985) ‘Of Strategic, Deliberate and Emergent’, Strategic Management Journal, 6 (1) pp.257 – 272.Page 14 Mullins, L.J. and Dossor, P. (2013) Hospitality Management and Organizational Behavior, 5th edn. United Kingdom: Person. Nickson, D. (2006) Human resource management for the hospitality and tourism industries. Oxford. Butterworth-Heinemann. (also available as an e-book) Olsen, M.D. West, J.J. and Tse, E.C. (2008) Strategic Management in the Hospitality Industry: 3rd edn. New Jersey: Pearson. Porter M.E. (1996) What is strategy? Harvard Business Review. November – December. Porter, M.E. (1980) Competitive Strategy: Techniques for Analyzing Industries and Competition, Free Press. Porter, M.E. and Millar, V.E. (1985) How Information gives you a competitive advantage, Harvard Business Review, July – August. Rayner, C. & Adam-Smith, D. (eds) (2009) Managing and leading people. (2nd edn) London. Chartered Institute of Personnel and Development. Rollinson, D. (2008) Organizational Behaviour and Analysis, 4th edn, London: Prentice Hall. Sun, L (2011) ‘ The Core Competences and Strategic Management of Raffles – A Case Study of Singapore Hotel Industry’, International Journal of Innovation, Management and Technology, 2 (4), pp. 270 – 273. Van der Wagen, L. (2006) Human resource management for events: managing the event workforce. Oxford. Butterworth-Heinemann. (also available as an e-book) Walsh, K. (2003) ‘Qualitative Research: Advancing the Science and Practice of Hospitality, Cornell Hotel and Restaurant Administration Quarterly, 44 (2), pp. 66 - 74. Whittington, R. (2003) ‘ The Work of Strategizing and Organizing for a practice perspective’ Strategic Organization, 1 (1), pp. 117-125. Wilson, D.C. (2000) A Strategy of Change, London: Thomson Learning.Page 15 Some of these journals are dedicated to strategic management periodicals Academy of Management Journal; Academy of Management Review; Administrative Science Quarterly; Business and Society; Business Horizons; Journal of Business; Journal of Business Strategy; Journal of General Management; Journal of Management Studies; Long-Range Planning; Management Decision; Omega; Organizational Dynamics; Policy Sciences; Policy Studies Journal; Sloan Management Review; Strategic Management Journal; Harvard Business Review; People Management; International Journal of Innovation, Management and Technology. Some of the Journals dedicated to Hospitality Education and Management Event Management; the International Journal of Hospitality Management; Journal of Hospitality and management; Journal of Hospitality and Marketing Management; Journal of Hospitality and Tourism Education; and International Journal of Culture, Tourism and Hospitality Research; Journals of Hospitality Education and Management; International Journal of Contemporary Hospitality; Hospitality Administration and Management Commons. The Magazine for Hospitality Management Professional; The Magazine for Hospitality Management Professionals (www.instututeofhospitality.org) Some of the resources dedicated to business strategy and improving organizational practices McKinsey consulting firms www.mckinsey.com, www.bcg.com, www.bain.com How to improve your organization: http//www.improve.org/tqm How to improve strategic operation plan: http://www.osborngroup.com/strategic &operational_plan.html How to improve business issues: http:// www.businessweek.com How to improve action learning: www.studygs.net/actionlearn.htm How to improve organizational learning: http://www.leadershipcircles.orgPage 16