UNIVERSITY OF LUSAKA (UNILUS) SCHOOL OF BUSINESS BBA 410 STRATEGIC MANAGEMENT

INTRODUCTION Strategic Management or Business Policy is one of the most important courses of the business degree, be it in Accounting and Banking or Business Administration. It is the capstone of all functional areas of business by way of integrating all aspects of the degree programs in the School of Business. As you take this course, it is assumed that you will have studied the functional areas of an organization such as marketing, Accounting and Finance, Personnel, Production among others.

The main reasons for the study of this course are the following:- To help you have a clear understanding of how to perform your functions when you are in organizations and know or anticipate the potential direction the firm is going in its pursuit of its objectives. The course aims to give you an opportunity to identify actors which lead to significant changes in organizations that may have either positive or negative impact on you individually. The course also helps you to develop a long term perspective of the organization and be able to anticipate potential changes in future. This means strategic management is about awareness of change and management of change. Any managers who ignores or resists to change is by implication suggesting the demise of his/her company. In addition to the foregoing, the Zambian economy is undergoing economic and financial liberalization experiencing high rate of inflation and interest rates. Strategic Management/Business Policy and Strategy course gives you an opportunity to be aware of various options to rake in order for the company you manage to remain a float.  

OBJECTIVES To introduce the case method in Business Policy to overcome difficulty in bridging the gap between descriptive theories and methods and their analytical application in business problem solving. To integrate knowledge and methods learned in prior business courses such core courses as economics, accounting, management, etc. To develop the students’ ability in using analytical problem solving and decision making skills.

MANAGEMENT OF THE COURSE The course shall be administered by three interdependent approaches. The first of the three is through structured lecturers. Under this approach a theoretical exposition of the course shall be attempted. The three main text books to use are given below. The case study method is unavoidable in a Business School. This tool shall be used every after a major topic has been completed. Since most of you have never worked other than the vocational employment, a case study puts you in an organizational setting where you should make a decision. Guest speaker/video shows shall be used to give you or expose you to experiences of other people.

ASSESSMENT SYSTEM The assessment system shall be 40% allotted for continuous assessment and 60% final examinations. 10% shall be for an assignment that shall be given to you in class during the second week of the first term. This piece of work shall be submitted in groups in form of a report followed by a public presentation to a panel before the end of the semester. There shall be a test to be administered immediately after the mid-semester break. The grading system is as given in the progression rules of the school. So get busy now or you’ll never have time to do other courses.

OTHER RECOMMENDED TEXTBOOKS PRESCRIBED TEXT BOOKS Strickland A and Thompson A M, Strategic Management 4th Ed BP1 Irwin 1987. Glueck, W F and Jauch L R Strategic Management and Business Policy 3rd Ed, McGraw-Hill 1984. Thompson J L Strategic Management Awareness and Change. Chapman and hall London 1990. OTHER RECOMMENDED TEXTBOOKS Glueck W F Business Policy and Strategic Management 3rd Ed, mcHGraw-Hill 1984. Newman et al; Strategy Multi-level Integrative Approach South-west Pub. 1989.

COURSE CONTENT THE STRATEGIC MANAGEMENT PROCESS Introduction Whose responsibility is it Why it matters Why case study method THE ESSENTIAL ENTREPRENEURIAL TASKS Business Mission Strategic Objectives What is Strategy Formulating Strategy Primary Determinants of Strategy Case study 1

GENERIC BUSINESS STRATEGIES AND INDUSTRY ENVIRONMENT General Business and Competitive Strategies Cost leadership Differentiation Focus Strategies for general types of industry environments and competitive situations. Case study 2

GENERIC CORPORATE STRATEGIES Grand Strategies and their variations Stability Strategies Expansion Strategies Retrenchment Strategies Combination Strategies Alternative and Performance

BUILDING AND DEFENDING COMPETITIVE ADVANTAGES Building Competitive Advantage Via cost leadership Via differentiation Via focusing Offensive and defensive strategies. Case study 3

TECHNIQUES FOR STRATEGY ANALYSIS AND CHOICE OF STRATEGY Matric techniques for evaluating diversifies portfolio Evaluating Corporate Strategies beyond the business portfolio Matrix Checking for performance gaps Managerial factors that influence choice of strategy

IMPLEMENTNG STRATEGY, ORGANISATION STRUCTURE, DISTINCTIVE COMPETENCE AND RESOURCE ALLOCATION Allocating and focusing resources on strategic objective. Building a capable organization Building distinctive competence.

IMPLEMENTING STRATEGY, COMMITMENT, CULTURE, SUPPORT SYSTEMS AND LEADERSHIP Strategic Leadership Administrative Support Systems Galvanizing Organization Wide Commitment to Strategic Plan Corporate Culture. Case study 4

EVALUATION AND CONTROL OF STRATEGY The control and evaluation process Gap analysis The motivation to evaluate Criteria for evaluation Measuring and feed back Evaluation and correction Management by objectives

COURSE REVIEW