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Introduction to Strategy

International Business Strategy LON301BUS. Introduction to Strategy. Unit: 1 Knowledgecast: 1. Welcome. Module Learning Outcomes. Demonstrate a sound appreciation of current strategic management concepts . What is Strategy?.

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Introduction to Strategy

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  1. International Business Strategy LON301BUS Introduction to Strategy Unit: 1 Knowledgecast: 1

  2. Welcome

  3. Module Learning Outcomes • Demonstrate a sound appreciation of current strategic management concepts.

  4. What is Strategy? • “Strategy is the direction and scope of an organization over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations.” (Johnson & Scholes 2008:3)

  5. What is Strategy? • “A coordinated series of actions which involve the deployment of resources to which one has access for the achievement of a given purpose.” (White 2004:5)

  6. What is Strategy? De Wit & Meyer (2004:5) Strategy Context Organisational Purpose Strategy Process Strategy Content

  7. Aims of Strategy • Articulation of business goals • Organisation of activity to achieve those goals • Translating business opportunity into outcomes such as sales, profit etc

  8. Strategic Management Elements

  9. The Challenges (Some of them…..!) • Who is the strategist? • Strategic drift • Internationalisation • E-Commerce • Strategic capability to employ e-commerce? • Changing organisational purpose • Knowledge and learning

  10. Knowledgecast Summary • Demonstrate a sound appreciation of current strategic management concepts. • Issue of validity is key - who determines which definition or model is most valid?

  11. Seminar Heraldic Shields • Step 1: Listen to your tutor explain the history of heraldic shields and run through the instructions for this activity • Step 2: Draw your heraldic shield as big as possible on your piece of flip chart paper using the following design guide • Step 3: However, you are NOT allowed to use letters or words so each quadrant and even the banner of your name must be completed by drawing. For example, if your family name is Cooper you could draw a man making a barrel as this is the traditional name for this job or if you have 5 people in your family you could draw 5 ‘stick people’ in the ‘Family/Home’ quadrant. • Step 4: Share and explain your heraldic shield to the rest of your new team.

  12. Seminar Your Name Family/Home Education/Work Experience When I was young I wish I’d known❾ My future� Heraldic Shield Design

  13. Group Activity Researching Strategy: You are required to carry out an independent research activity to identify a minimum of three other definitions of strategy from both academic and non-academic sources. Please record the definition, its source and whether it is an academic or non-academic definition on paper or digitally and bring it to the session. When you have gathered the alternative definitions, share them with your team in order to make notes comparing and contrasting the definitions (max 250 words).

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