Marketing: Business Policy and Strategy C10/D10, 10 credits. (Advanced level) Course: Marketing: Business Policy and Strategy, 10 credits. Course code: FEKC86 Responsible Department: Department of Business Administration Subject: Business Administration Level: C/D Field of education: Social Science This is a course at the C/D-level in a Bsc- and Msc-degree at Umeå University. The course can also be included in the study programme in Business Administration and Economics at Umeå School of Business and Economics. 1. Resolution to arrange the course The course is established by the Faculty of Social Science at Umeå University and the syllabus is confirmed by the Board of Business Administration June 6, 2002. 2. Objective and contents Module 1 The Strategy Process (5 credits) The purpose of the course is to enhance the students' knowledge and under- standing of the role that business policy and strategy plays in different contexts. In the first module on the strategy process, the aim is to discuss the nature of strategy and strategic decisions, and create know- ledge of different theories and methods concerning strategy formulation, analysis and implementation. Strategy can be seen as the matching of the activities to the environment in which it operates. This matching process is dealt with from two perspectives - one focusing on the content of strategies and one focusing on the emerging aspects of strategies in different environments. The content perspective will cover in-depth analysis of industries and competitors, the prediction of competitor behaviour, and techniques for analysing how firms can develop and sustain advantages over time. Particular attention is paid to topics of competitive positioning, the analysis of added value, and the development and leveraging of organisational resources and capabilities. The emerging perspective will cover descriptions of gradually evolving patterns of action merging into successful strategic approaches. These socially constructed patterns emerge in different contexts depending on configurations of industry transition, structure and culture. The course ends by comparing the different perspectives, emphasising the responsibility of the students to become reflexive individuals capable of critically examining divergent views. Module 2 New Perspectives on Strategy (5 credits) The course, New Perspectives on Strategy challenges traditional views and perspectives and aims to reach an understanding of alternative frameworks on business policy and strategy. The purpose is to prepare the students for critical and creative elaboration of long-term questions for the 21st century. This implies more profound analyses of globalisation, competition, co-operation, communication, strategic alliances, sustainable development, culture, and ethics. The end of the 20th century saw the construction of vertical integration and value chains that came to define modern business. The beginning of the 21st century is witnessing their deconstruction, opening up for new progressive and innovative value constellations. The boundaries defining businesses, companies, and industries are coming under attack and radically transforming the nature of strategy. Deconstruction forces a fundamental rethinking of some of the basic principles of strategy with a potentially broad impact on the concepts of decision making, economies of scale, economies of scope and core competencies. Contemporary research addresses visionary pluralism and enhances questions of cultural diversity across transnational markets. Strategies need to be tailored to turbulent environments, and it is important to emphasise the necessity for strategic solutions to be customised to the unique circumstances and characteristics of a given firm. Through history there have been a succession of alternative models - from classical microeconomics, through industry structure, core competencies, the resource-based view and organisational learning, each claiming widespread applicability. However, each model has its shortcomings as is pointed out by the proponents of any of its alternatives. Consequently, in order to renew strategic thinking the course will develop the students' capacity to see beyond universal models and reach understanding of fundamental prerequisites and strategic challenges for the 21st century. 3. Prerequisites Students require a minimum of 30 credits from the A- and B-level courses in Business Administration for entry into the course. Exchange students require a minimum of 40 credits from the A- and B-level courses in Business Administration for entry into the course. It corresponds to 60 ECTS-credits in basic courses in Business Administration (Management, Accounting, Financial Investments, Cost Accounting and Marketing). 4. Teaching methods The core topics of the course will be covered by lectures, seminars and case studies. The students will also meet guest lecturers during the course. On several occasions, students will be asked to make oral and written presentations of assignments, case studies and term papers. They will be expected to take an active part in the classroom discussions, seminars and case studies. Guest lectures might be used in examination. 5. Examination/Grading criteria Attendance and participation at lectures, seminars and case presentations are expected. Also, students have to obtain a ”Pass” in the individual segments of the course (assignments, case studies, term paper, and comprehensive final examination) to pass the entire course. The following grading system is used: Pass with distinction (Väl godkänd, VG), Pass (Godkänd, G) and Fail (Underkänd, U). For exchange students, the ECTS grading scale will be used upon request. To receive the grade Pass with distinction on the course, the student must have achieved at least 75% of the total of points on the separate modules or the equivalent. When a student has failed an examination on two occations, he or she has a right to have another grading teacher. A written request should be handed to the director of studies no later than two weeks before the next examination opportunity. Grades on the course are awarded when students have passed all examinations and compulsory course elements. For additional information about "muntan" Swedish-speaking students should refer to the syllabus: "Företagsekonomi C10/D10" as confirmed in 2001 or later. Further information can also be obtained from the Student Counsellor. 6. Utilisation, et cetera In cases where there are applicants from exchange programme, the course language will be English. Otherwise, parts of the course may be taught in English. Information on language aspects can be obtained from the Student Counsellor. 7. Readings and other material Module 1 The Strategy Process (5 credits) Mintzberg, H., Quinn, J.M. & Ghosal, S., The Strategy Process. Prentice-Hall. Revised European edition1998. ISBN 0-13-675984-X Department of Business Administration Articles. Studentexpeditionen. Module 2 New Perspectives on Strategy (5 credits) Robert M. Grant,. Contemporary Strategy Analysis: Concepts, Techniques, Applications. Blackwell Publishers 4th ed 2002. ISBN 0631231366 Compendium of Selected Articles, 2001. Department of Business Administration. Studentexpeditionen. Umeå University, Department of Business Administration, S-901 87 Umeå, Sweden.