Strategic Management

Welcome to MGT 8015BED Strategic Management!

MGT 8015BED Strategic Management is a six-credit-unit, two-term, 8000-level course. The course is intended for students who wish to acquire a holistic framework of knowledge in strategic management and the accompanying skills to develop and implement strategic management in today's organisations.

Company secretaries, as members of the senior management, have an important role to play in the strategic management process to promote the competitiveness and sustainability of their organisations with good governance.

This course is delivered primarily in blended learning mode with online study materials, supplemented with a Study Guide, pre-recorded video lectures as well as regular learning sessions. The online study materials are provided by the Hong Kong Chartered Governance Institute (HKCGI) and are prepared specifically for the Chartered Governance Qualifying Programme (CGQP).

Course aims

The overall aims of MGT 8015BED Strategic Management are to:

• enhance your ability to comprehend management from a strategic perspective;
• provide you with fundamental theoretical knowledge and practical skills in strategy and management; and
• equip you with a holistic body of knowledge on strategic management, so that you can make quality decisions for developing sustainable competitive advantage in your organisation.

Course learning outcomes

Upon completion of this course, you should be able to:

• explain and apply key strategic management concepts and theories;
• analyse an organisation's internal and external strategically relevant environments and discuss the implications for strategy design;
• propose appropriate strategic approaches that serve the purpose of the organisation and its stakeholders in differing operating contexts; and
• recommend appropriate structures and controls required for the implementation of management strategies and recommend appropriate approaches to manage a change.

This course will be delivered in blended learning mode with online study materials provided by the HKCGI, pre-recorded video lectures and regular learning sessions. Your study pathway through these online course materials is set out in an HKMU-produced Study Guide.

A series of pre-recorded video lectures will be provided by the HKMU Course Team to help you get a better grasp of the learning materials. As you embark on each unit, we suggest that you watch the video entitled 'Unit overview' first before you start working through the learning materials of the unit.

Your third main point of reference during the course is HKMU's Online Learning Environment (OLE). There, you will have access to all of your learning materials, including the Study Guides and a link to the HKCGI learning platform. You will also be able to discuss topics with other students and your tutor on the course discussion board.

This course is further supported by regular learning sessions in the form of live online lectures and day schools (compulsory; in person) to provide you with additional support and interactive learning opportunities.

The online learning materials

This course is divided into ten units and for each unit you will need to access e-learning resources, such as the HKCGI online study materials, videos, and selected readings. The HKCGI e-learning materials are used for the Chartered Governance Qualifying Programme (CGQP).

You will find that some units consist of two to three chapters of the HKCGI study materials while others involve part of a specific chapter from the HKCGI supplemented with other selected materials. The Study Guide will indicate at which point you should read specific chapters/sections of the online study materials.

The HKCGI study materials are accessible on the HKCGI platform: http://wkprime.com/commentary/index?bookId=MzAwMDE4NQ. On this website, in the 'Commentary' tab, go to the upper left menu showing the folder structure by practice areas: HKCGI Chartered Governance Qualifying Programme → Part Two (4) → Strategic Management. The relevant chapters for this unit are found in the subfolders.

Further information about how to connect to the HKCGI platform will be provided on the OLE.

Video lectures (pre-recorded)

For each study unit, an HKMU-produced two-part supplementary lecture (pre-recorded video) is provided to facilitate your learning. Part I, 'Unit overview', introduces and gives you a framework for each unit, while Part II, 'Reviewing major contents', provides a discussion of major concepts or models covered and summarises the important takeaways of the unit.

The Study Guide

The Study Guide sets out your study pathway through the online learning materials and other course learning resources, and provides supplementary materials and additional self- assessment opportunities such as activities and self-tests. You'll therefore need to keep it by your side as you work through the course.

The Study Guide is divided into ten units. The titles of the units and the HKCGI chapters they will cover are set out in the following table.

E-Library readings

In the Study Guide, you may be instructed to read E-Library articles from the E-Reserve. To read these items, go to the E-Library homepage and click on 'E-Reserve'. Log in, click 'Accept/Agree' on the Copyright Restrictions page, fill in the 'Course Code' box, and click 'Search'. Alternatively, you may access the readings via a hyperlink in the online course materials.

The Online Learning Environment (OLE)

A dedicated area for MGT 8015BED students has been set up in HKMU's OLE. You will need to log on regularly to the OLE to access the course discussion board and online learning components such as PowerPoint slides and supplementary lecture videos. You will also need to go online to access various Readings that are referred to in the Study Guide.

Learning support

You will be supported throughout the course by regular learning sessions in the form of live online lectures and compulsory in-person day schools. Details of the dates and times of these sessions can be found in the 'Course Schedules' section of the MGT 8015BED OLE.

* This schedule is tentative. Please refer to the 'Course Schedules' section of the OLE for the latest updates.

Assessment

During the course, your progress will be assessed both formally and informally.

Formative assessment includes various activities, self-tests and online discussions that you will undertake while working your way through online learning materials and the Study Guide.

Summative assessment is formal assessment which counts towards your final grade. It consists of two assignments, two application-based assessments and a final examination.

Assignment extension policy

The summative assessment items are outlined in the following table.

* To be conducted compulsory in-person during day schools

Assignments

There are two assignments for the course. You will be expected to apply concepts and techniques acquired during the course when completing the assignments.

• Assignment 1, worth 15% of the total marks for the course, evaluates contents covered in Units 1 to 4.
• Assignment 2, worth 15% of the total marks for the course, evaluates contents covered in Units 5 to 9.

The assignments will be made available in the 'Assignment File' section of the MGT 8015BED OLE. Please refer to the OLE for the assignment submission dates.

Application-based assessments

Two application-based assessments are worth 10% of the total marks of the course. They are designed as learning activities conducted during the compulsory day schools (in person) to facilitate your application of acquired knowledge, concepts and skills to authentic business contexts. They aim to evaluate study materials covered in Units 1 to 10.

How to submit assignments

You must use word processing software (such as Microsoft Word) to prepare the assignments, and submit the assignments via the Online Learning Environment (OLE). All assignments must be uploaded to the OLE by the due date.

Failure to upload an assignment in the required format to the OLE may result in the score of the assignment being adjusted to zero.

Assignment submission extension policy

The assignment policy of the University as stated in the Student Handbook should be observed. You are required to submit assignments for this course in accordance with the dates communicated by your Course Coordinator. You may apply for a submission extension on the grounds of illness, accident, disability, bereavement or other compassionate circumstances.

Applications for extensions must be submitted online via the OLE. Please note the following:

• Supporting documents must be submitted to justify applications for extensions of over seven days.
• Applications for extensions should normally be lodged before or on the due date.
• Applications are considered by:
  • your tutor for extensions of up to seven days;
  • the Course Coordinator for extensions of 8 to 21 days; and
  • the Dean for extensions of over 21 days.

After an assignment is submitted via the OLE, it is your responsibility to check that the assignment has been successfully submitted. Extension applications due to any problem with uploading will not be accepted. The University cannot accept any responsibility for assignments that are not received by your tutor due to any problem with submission via the OLE. As a precaution, you are advised to keep a copy of each assignment you submit.

According to the University's policy, no extension of the due date will be allowed for the final assignment. This policy will be strictly enforced. Any late submission of the final assignment will result in the score of the assignment being adjusted to zero.

Examination

The final examination for MGT 8015BED Strategic Management will be of two hours' duration and has a value of 60% of the total course grade. The examination will consist of questions that reflect the types of practice exercises and assignments that you have previously completed.

To pass this course, you are required to obtain no less than 40% in the continuous assessment components (i.e. Assignments 1 and 2; Application-based assessments 1 and 2) and 40% in the final examination.

You are required to attend the two compulsory day schools in person. Failing to attend either one of the compulsory day schools will render a Fail grade in the whole course. For more information on the University's policies on assignments and examinations, please refer to the HKMU Student Handbook.

The following table gives a general overview of the course structure. It suggests the amount of time you should allow for completing each unit and provides a broad schedule for you to plan your work. This estimation includes the time for reading the material, watching video lectures, completing activities, self-tests and assignments, attending learning sessions and preparing for your final examination.

* Exact due dates for the assignments will be provided on the MGT 8015BED OLE.

** Application-based assessments will be completed during the compulsory in-person day schools. Exact dates for the day schools will be provided on the MGT 8015BED OLE.

Case studies are a useful and increasingly popular form of learning and assessment at the Lee Shau Kee School of Business and Administration. In this section we will look at why case studies are used and then suggest some learning strategies that you can use to approach case studies. We will also briefly discuss some problems that you may encounter as you learn from case studies.

What is a case study approach to learning

One main purpose of a case study is to explore an issue or a number of issues in relation to an organisation. The intention is to get you to carefully diagnose an organisation; to focus on key problems, and to suggest how these might be resolved. Often the case is a real-life account of an organisation which you are required to analyses in order to focus on a problem. Usually, the information that is provided is incomplete and you are often expected to observe developments in the organisation over a period of time. The case study approach is an excellent opportunity to actively apply conceptual knowledge and material that you have read to the reality of an organisation.

At HKMU, case studies may be used as part of assignments, exams, study units, or day school exercises. You normally are given some information about a company (this could be both text and graphical information, such as figures and tables). You are then asked to think about some problems related to the company and to use concepts and apply theories that you have learned in your course to propose possible solutions for the company.

Let's have a look at two kinds of case study questions that you might be asked to work through in your courses. The first example is quite structured, while the second is much more open-ended.

Two examples of case study questions

1. Read the case study entitled 'ABC Consultants' and consider the following issues:
   • Based on your understanding of the resource-based model, what measures could be taken to improve ABC's returns?
   • Drawing on your broad understanding of the consultancy industry, assess ABC's relative competitiveness and its profit potential.
   • To what extent do internal factors account for ABC's financial weaknesses?
   • Based on your assessment of ABC's financial weaknesses, formulate a new strategic intent and develop a mission statement for ABC.
2. Read the case study entitled 'XYZ Industries'.
   • Identify the key problems that are currently faced by XYZ's management.
   • Propose viable solutions to these problems.

Why case studies

As you can see from the above examples, a case study approach to learning requires a great deal of thinking and often will not easily yield a quick 'wrong' or 'right' answer. However, case studies are good preparation for dealing with real-life business problems. Some cases may be short and relatively simple, while others longer and more complex. The purpose of both types of cases is the same: to give you an opportunity to develop your skills in analysing the strengths and weaknesses of the organisation under examination, to consider the processes at work within the organisation, and to make decisions about future actions.

Case studies are not meant to replace textbooks, but rather to prompt you to draw connections between theories and practice and to apply abstract ideas, concepts, and principles to specific concrete situations. Ultimately, analysing cases will help you develop a number of skills that are crucial in business. In particular, they will help you to:

• analyse complex, unstructured, sometimes ambiguous situations;
• identify critical issues and problems;
• question your own and others' assumptions;
• improve your problem-solving skills;
• develop your ability to find alternatives and make informed decisions;
• make decisions with incomplete information and think strategically;
• self-educate yourself and draw on a broad range of resources and knowledge; and
• present and justify your recommendations in writing.

You may find that there are many possible 'right' answers to the questions in a case study. This illustrates that there is often no single best way to responsibly manage and solve real-life business problems.

Some guidelines for analysing case studies

The following strategies should help you to successfully analyse case studies:

1　Read the case and become familiar with the facts

First, skim-read the case to obtain a general understanding of the main point(s). Highlight or underline the pertinent points as you read.

Read the case again, and this time note down critical facts (such as names, time sequences, and where events occurred). Try to understand how events have influenced decisions.

Identify the important individuals or stakeholders, and try to assess the importance of the supporting information in the case. How reliable is this supporting information? Are there any gaps in the information that is given?

Make a note of any questions that you may have as you read the case.

2　Assess the context of the case

Try to understand the environment of the organisation and the wider context of the case.

Ask yourself questions about:

• The state of the organisation: What is the state of this organisation: good, bad or in- between? Usually this involves thinking about interpersonal relationships, and assessing production or financial problems.
• Key players and systems: How do systems and people operate in this organisation? Why do they operate like this? Are the systems undergoing change? How successful are the changes? Is there anyone who may sabotage any future strategy? Is there someone who can ensure the success of a future strategy?
• Significant trends: How does this industry operate? What are the main or unique characteristics of the industry? What were they five or ten years ago, and what are they likely to be in the future? What impact are the trends likely to have on the organisation under investigation? How does this organisation's performance compare with that of its competitors?
• Constraints: Clearly identify all constraints in the A constraint may be viewed as anything (usually beyond the control of the organisation) that may prevent an otherwise feasible course of action from becoming a success. What is outside the control of individuals in the case study? For example, it is unlikely that any company or individual in Hong Kong could prevent a foreign government from imposing tariff barriers on imports.

Doing a SWOT analysis is a good way to get a better understanding of the organisation and the context or environment in which it is operating. A SWOT analysis considers the Strengths and Weaknesses of the organisation, and the Opportunities and Threats which the organisation faces in the external environment.

3　Recognize the case's symptoms

Read the case again and as you read, try listing all the symptoms of the case. The symptoms of a case are not the problems, but they may help you to identify the problems. Symptoms are all the things that are undesirable or that are not as expected. For example, falling sales could be a symptom of several problems such as poor market segmentation, poor product quality, or problems in a supply chain. At this stage of your analysis, you should just try to observe all the symptoms, and avoid prematurely identifying problems or suggesting solutions. Like a doctor during a medical consultation, you would first need to observe and note all the symptoms of your patient before giving a definite diagnosis of the problem. Then think about how the symptoms may be interrelated. Relationship diagrams, like the one below, may help you to see the relationships between symptoms.

4　Diagnose the case's problems

After getting a good grasp of the symptoms, you're ready to determine key issues that need to be analysed more closely. You are now diagnosing the situation, like a doctor diagnosing a patient's condition. Ask yourself, 'What seems to be the trouble in this organisation?' and make a list of what you now perceive to be the key problem(s). You will probably need to go back to the details of the case and as you do this, you may add to or refine your list of potential problems.

If there are several problems, you need to order and prioritise them. You might want to number the problems according to how you perceive their importance, or make a matrix, like the one below, which shows relationships between various criteria and each problem.

Also try to establish if there are relationships or themes in common among the various problems. Perhaps different problems in your list are actually variations of a broader central problem.

Ask yourself what assumptions you have made about the case. Are these assumptions reasonable, and supported by facts? Would other people objectively suggest the same problems, based on the facts that you have? Are you suggesting problems that are not supported by the facts of the case?

After you have considered and prioritised the possible problems and questioned your assumptions relating to these problems, you should write a statement of the problems as you perceive them. Avoid suggesting solutions at this stage.

Once you have a problem statement, you need to find evidence in the case to support your problem diagnosis. Also, try to identify ideas, concepts and theories from your textbook and course units which help to explain what is happening in the case.

5　Formulate criteria for a 'good' solution and identify possible constraints to solutions

Before you propose a solution, you need to consider the characteristics of a 'good' solution. Obviously, your solution should bring benefits such as improved productivity, reduced costs or greater profits. However, it also needs to be viable and be able to accommodate the constraints that you have already identified. For example, you should ask yourself the following questions: Is the solution legal? Is there a budget for this solution? Does it conflict with the organisation's culture?

Try to brainstorm alternative solutions. Aim to generate a broad and creative range of options and then try to rate each according to various criteria.

The following matrix demonstrates how this can be done.

Also refer to ideas, concepts and theories from your course materials as you consider and assess each possible solution.

It's often wise to propose a solution that allows for plausible alternatives if it should fail. Managers use the term satisfice when they are considering acceptable alternative solutions — that is, they look for a solution that is able to satisfy the situation while also making some realistic sacrifices to existing constraints. Such a solution is a satisficing rather than a maxismising solution.

Finally, don't forget to consider the possibility of taking no action. What will actually happen if no action is taken? Are any (or all) of the solutions less viable than taking no action at all?

6　Recommend a viable solution

After you have assessed the merits and pitfalls of each alternative solution, select the best solution for the situation.

Remember that the solution needs to be viable. Can the recommended solution be introduced? Are there the resources and the willingness to implement it? Be realistic about what may work. Explain why it is the best solution within the constraints of the existing context and explain how it can be applied to the organisation. Suggest a time frame for the solution's implementation.

Outline possible strategies for implementing your solution, either partially or completely. As many feasible courses of action as possible should be considered before you choose the one that seems the most likely to succeed. The more ideas you have, the greater your chance will be of finding a solution that will work well. The complexity of most organisational problems means that it is highly unlikely that one idea alone will correct the situation. Usually a combination of actions is required, and these need to be funded differently, timed carefully and staffed as necessary.

7　Present your solution as a written recommendation

Review your final solutions and then prepare a set of written recommendations. These should clearly outline your proposed solutions in relation to the problems that you have identified. Your recommendations should also include details of why these solutions are the most appropriate given the circumstances and constraints of the case. Finally, you need to clearly state how and when your proposals will be implemented.

Your tutor and your course Assignment File can provide some guidelines on how to present your recommendations.

Some mistakes to avoid as you analyse cases

When you first tackle case studies, you should be careful to guard against the following mistakes:

1. One of the most common mistakes made in case analysis is repeating or simply summarising the facts of the Your tutor is already very familiar with the case details, so you do not have to restate them. You are required to use and analyses the facts, not repeat them. Your analysis should contain only enough case material to support your arguments. Therefore, be analytical!
2. You may often be tempted to just deal with symptoms and ignore the causes of the It is very important to analyses the background of the case (and the climate in which the events of the case unfold).
3. Avoid discussing problems in isolation and do not overlook their interrelatedness. If you try to think in terms of 'systems' rather than individual problems, you will be more likely to avoid this pitfall.
4. Students often fail to state the assumptions underlying their If any important assumptions have been made, have you questioned them and are they reasonable and appropriate? Avoid selectively using and interpreting case material in order to justify a preconceived solution.
5. Practical limitations and constraints may sometimes be For example, a recommendation that a whole team be fired is probably unrealistic.
6. A very common mistake is poor integration of the facts in the case with the concepts, principles, and theories in the A high level of integration is vital. Ask yourself if relevant theories from your course have been fully and constructively applied.
7. Finally, recommendations are too often not spelled out in detail or are A timetable for implementing them is also often omitted.

Analysing cases poses many challenges, and this is one reason the case study method is so rewarding. It is a very active form of learning. It offers you a risk-free opportunity to gain managerial and organisational experience and should greatly increase your confidence to make informed decisions in the real world.

Good luck and we hope you enjoy working through the cases that you encounter!

MGT 8015BED Strategic management is designed to help you acquire a holistic framework and the accompanying skills to develop and implement strategic management in today's organisations. By studying this course, you will be able to strengthen your analytical, conceptual and practical skills for strategic management in the real world.

This course will be delivered primarily in blended learning mode and supplemented with a Study Guide, HKCGI online study materials, video lectures, live online lectures and compulsory in-person day schools..

The course is assessed through two assignments, two application-based assessments and a final examination. We hope you find MGT 8015BED stimulating and valuable for your professional development.

If you wish to defer your studies of this course until a later date, you should apply for deferment of studies. For regulations governing the deferment of studies, please refer to your Student Handbook. If you have applied for deferment of studies, you should continue with your studies of this course and submit the required assignments until formal approval is given by the University. 

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