Modular value: 10 credits
The overall aim of this module is replicate the dynamic nature of strategic management, using a business simulation to blend theory with practice. Students are tasked with directing and expanding a business, from research and development to the introduction of new and improved products and the search for new markets.
In seeking to expand the business students are required to improve productivity, manage human resources and take responsibility for finance and accounting issues.
Through the simulation, students appreciate the contribution of different functions in creating value for the customer and advantage over competitors, they experience the realism of making business decisions and develop their skills in strategy formulation and implementation.
By the end of the module, students will have developed knowledge and critical understanding of:
- The components and process of strategy formulation, the linkages between marketing decisions and overall business strategy and the design of business plans;
- The financial consequences of marketing decisions and alternative methods of financing marketing investments;
- The contribution of research and development and quality consistency to improved customer satisfaction;
- The impact of work force and capital expenditure on productivity performance;
- The challenges of dealing with environmental change and balancing the expectations of a wide range of stakeholders