Level 7 – IBAS
- Personal Development for Leadership and Strategic Management
- Finance for Strategic Managers
- International Marketing
- Organizational Behavior
- Human Resource
- Research for Strategic Development
- Strategic Planning
- International Business Environment
1) Strategic Planning
- Understand the foundations for developing organizational strategy
- Explanations of organizational vision, mission, strategy and business plans; the differences and the interface between them
- Core organizational values e.g. ethical, environmental, client centered; cultural diversity; drivers e.g. business growth; profit; market share; workforce expectation
- Objectives and measures: SMARTER (specific, measurable, achievable, realistic, time- based, evaluate, re-evaluate) objectives; stakeholder involvement
- Understand the external environment affecting organizations
- External factors: needs and expectations of stakeholders e.g. customer groups, shareholders, suppliers and sub-contractors, the workforce and the community
- The success and direction of competitors and changes in the market sector as a whole in the short and long term e.g. product design; political changes and developments; legal changes; trends and expectations; exchange rates; trading agreements
- Use of external surveys and statistics; customer analysis and feedback; use of tools e.g. SWOT (strengths, weaknesses, opportunities, threats) analysis, STEEP (social, technological, economic, environmental and political) analysis; market research including primary and secondary information; feasibility
- Be able to review an organization’s strategy and business plans
- The purpose of review and what this will entail; tools e.g. Value Chain analysis, SWOT analysis, Porter‟s Five Forces; internal surveys and statistics
- Market position; market share analysis; life cycle analysis; Boston growth share BCG Matrix
- SWOT analysis, resource analysis, competitive analysis, skills and competencies audit, benchmarking sustainable competitive advantage; pricing strategies; resource analysis; economies of scale and scope for this; market equilibrium
- Be able to develop strategy options for an organization
Strategic planning options:
- Ansoff Matrix Strategies; corporate expansion; integration i.e. vertical, backwards and forwards; horizontal; differentiation; Porter‟s generic strategies
- Diversification, control of resources, distribution channels; Mintzberg‟s strategies (deliberate, emergent)
- Strategic alliance; merger, acquisition; competitive strategies
- Value-based strategy; contingency strategy; maintaining/increasing market share, niche markets; market segmentation
- Adding value; workforce competence development; product portfolio; reconfiguration; gap analysis; profitability; portfolio analysis; benchmarking
- Criteria for judging options; feasibility studies; risk assessments
- Understand how to create a strategic plan to meet business objectives
- Mission statement /corporate vision, corporate values and principles, decisions from options; strategic goals / initiatives, strategy, roles, responsibilities, accountability; objectives and measures: SMARTER (specific, measurable, achievable, realistic, time-based, evaluate, re- evaluate) objectives; execution plan, balanced scorecard, targets / interim targets / success metrics
- Resources e.g. financial, human; skills and competencies; needed v in place; availability.
Stakeholder involvement and buy-in:
- When and at what stage in the process; how will this take place; who will be involved; communications with stakeholders; gaining general organizational agreement to the process; feedback
- Tie departmental plans into strategic plan, align performance management and reward systems to strategy implementation.
- Communications with stakeholders how and when; dissemination and cascading processes; guidelines; timetable for implementation; Business Process Re-Engineering (BPR); action planning at departmental and operational levels
- Monitoring and evaluation control systems; responsibilities at strategic and operational levels; performance appraisal; focus and realignment; contingency planning; smart objectives and success criteria at all levels in the organization; establish nature of monitoring e.g. tracking system and monitoring points; review meetings; role of celebration.
2) Finance for Strategic Managers
- Understand the importance of financial data in formulating and delivering business strategy
- Sources of financial information: Internal (internal accounting systems, payroll etc.), External (suppliers, Companies House, the Budget etc.)
- Financial information: Profitability, Cash flow, Business value, Financial stability, Cost projections.
- Need for financial information: Assessing finance requirements, obtaining finance, reporting to owners, shareholders and stakeholders, Setting and meeting targets, appraising new projects, Managing risk, Internal needs v External needs.
- Business risks: Strategic, Market, Compliance, Operational, Risk modelling.
- Be able to analyze financial data for an organization in order to inform strategic decision- making purposes
- Published accounts: Purpose, Provide information to shareholders/stakeholders, Users – for example, shareholders, potential shareholders, managers, employees, lenders, creditors, suppliers, customers, community, competitors, Annual reports, including main financial statements (statements of financial position, income statements, sources and statements of cash flows),
director‟s report, audit report, notes to accounts etc., Internal management accounts versus published financial accounts, Structure of financial statements – content and requirements, Limitations of published accounts.
- Comparative analysis: Comparison between years, Comparison between businesses, Industry comparisons, Benchmarking.
- Ratio analysis: Reasons for using ratios, advantages and limitations, Ratio categories, including profitability, liquidity, efficiency, capital and investor.
- Be able to evaluate proposals for strategic decisions on capital expenditure in an organization
- Types of expenditure, difference between capital and revenue expenditure (definitions, decision making, treatment in financial statements)
- Investment appraisal techniques: Payback, Accounting rate of return, Net present value, Internal rate of return, Discounted cash flow, Cost benefit analysis, Value for money.
- Long term and short-term finance: Definitions of long term and short term, Importance of matching finance to project.
- Sources of finance: Range of sources, External and internal sources, Role of markets, Role of government, Long term and short term, Advantages and disadvantages of each source, Implications of each source, for example gearing.
- Cash flow management: Cash flow forecasts v Cash flow statements, Managing inventory, trade payables, trade receivables, etc., Budgetary control processes – budgets and variances.
3) Research for Strategic Development
- Be able to formulate a research proposal relating to strategic business development
- Possible questions or hypothesis; different formats for research proposals; aims of research; scoping research projects; SMART objectives; terms of reference; rationale for selection; ethical issues
Information for strategic development of business area:
- Examples may include analysis of organization; structure, culture; planned growth strategy, marketing, operational issues; SWOT analysis, PEST analysis, analysis of customers and key stakeholders, competitor analysis
- Linked to purpose, objectives and outcome, SMART Project planning:
- Key milestones, resources, risk assessment and management, critical pathways, contingency, accessing relevant information, project goals, schedule, communication
- systems, sensitivity of information gathered e.g. intellectual property, data protection Link to Business Development:
- Rationale for chosen research linked to stated business development needs
- Be able to use different research methodologies to gather sufficient and valid data
- Research methods e.g. survey, questionnaire including manual and electronic, observations; ways to test sufficiency, reliability and validity; definitions of data e.g. primary and secondary sources, qualitative and quantitative; literature search and review – its credibility, use and acceptance; ways to reference sources
- Size and sufficiency of data, reliability and validity of information gathered
- Be able to present research findings in an appropriate format for a target audience.
- Report format e.g. title, acknowledgements, contents page, introduction, summary of literature review, research methods used, findings, recommendations, references, bibliography, appendices e.g. questionnaires, surveys
- Referencing e.g. Harvard system
Analysis of data and application of statistical methods:
- Qualitative interpretation of records, feedback, processes, categories, trends and relationships
- Quantitative e.g. mean, median, mode, variability e.g. range, standard deviation, application to business data, reliability of estimates from samples, trends and forecasting
Presentation of findings:
- Methods for statistical data e.g. graphs, charts, statistical tables; chosen audience e.g. colleagues, Board members, external stakeholders; use of language in report appropriate to the chosen audience; power point presentations
- Be able to evaluate own skills while undertaking research
Methods of self-evaluation:
- Personal reflection, constructive feedback from range of sources, evaluation forms, use of electronic equipment e.g. recording interviews, SWOT analysis. Balanced judgements
Improving own research skills:
- Examples may include courses or qualifications, mentoring, coaching, conferences, secondments, application in future research
- Plan with specific actions, timescales, success criteria, resource implications, milestones. The plan is realistic but challenging and can be implemented. It addresses areas of weakness and builds on strengths
4) Organizational Behavior
- Understand leadership behavior theory and practice
- Leadership versus management
- Leadership behavior theory including: personal leadership traits, trait theories (e.g. Allport. Eysenck Cattell), „great man‟ theory of leadership, contingency theories (e.g. Fiedler, cognitive resource theory), situational theories (e.g. Hersey and Blanchard, Vroom and Yet ton), behavioral theories (e.g. role theory, managerial grid/leadership grid), participative theories (e.g. Lewin/Likert, transformational v transactional leadership, emotional intelligence).
- Working relationships and interaction e.g. power, behavioral theories, social constructivism
- Understand how organizational structures and culture impact on the effectiveness of the organization
- Organizational structure: Bureaucracies, Stakeholders, re-engineered corporation, modular, hierarchical, matrix, liquid devolved decision-making powers, networked and atomized organizations, virtual organizations, line, staff & functional structures, formal and informal organizations, designing organization structure, centralization, decentralization.
- Organizational culture: Harrison – power, role, person, task cultures, Likert – autocratic, benevolent autocratic, consultative participative, Mintzberg – simple, machine bureaucracy, divisional, adhocracy, Peddler et al – the learning organization.
- How structure and culture impact on effectiveness
- Leader as a change agent
- Understand how organizations can improve employee effectiveness to respond to business opportunities
- Innovation and creativity
- Organizational culture: integration / interaction of disciplines and teams, attitude to risk, rewards.
- Organizational learning: The learning, learning culture, knowledge capture and management, technical knowledge versus experiential knowledge, technology.
- Measuring performance: Metrics, KPI, business scorecard, working in teams, group dynamics, teams versus groups, communications, collaboration and team decision making, motivation of groups.
- Change processes and outcomes: Changes (reorganization, restructuring, merger and acquisition, downsizing), involving stakeholders, communicating and managing change.
- Understand how organizations can motivate employees to improve their efficiency and effectiveness
- Motivational theory including: Taylorism, Mayo, Maslow, Herzberg, McGregor, Broad theories (e.g. temporal motivation theory), cognitive theory.
5) Personal Development for Leadership and Strategic Management
- Understand how knowledge and skills in leadership and strategic management support the creation and achievement of organizational vision and strategy
- Meaning of vision and strategy and their interrelationship
- Knowledge and skills required – visioning, describing possible futures with clarity, creating, giving direction, specificity, providing motivation, planning, communicating and listening at different levels, synthesizing, analyzing, empathy, decision taker, link between vision and strategy, bringing about effective change, emotional intelligence, developing and leading high- performance teams, consistency and reliability, delegation, dealing with conflict, gaining alignment.
- Contribution to organizational vision and strategy. Leadership and management knowledge and skills can be insufficient. Other factors which come into play include – financial situation, political uncertainty, availability of human and physical resources, and instability in the market.
- Ranking order produced from criteria leading to determination of high, medium and lesser importance.
- Similarities, difference and importance of knowledge and skills needed by strategic managers compared to operational managers.
- Understand how to develop and communicate organizational vision
- Factors impacting on organizational vision – history of the organization, external and internal business environment, capacity of the organization, anticipating potential barriers, skills and ambition of leadership team
- Approaches to developing vision – Two-way, top down bottom up, timing, clarity, specificity, quality of information, presentation, dialogue, culture understanding and, feedback loops, involvement,
- Factors which impact on the communication of vision to internal and external stakeholders – size of organization, organizational development, culture and diversity, size, complexity and boldness of vision, communication systems, dissemination and cascading processes
- Be able to manage development of own personal knowledge and skills in leadership and strategic management to support achievement of personal and organizational vision and strategy
- Theories of leadership and management and their application – Transformational Leadership, Transactional Leadership, tri-dimensional leadership theory, charismatic leadership, situational leadership
- Audit of personal skills and knowledge linked to creation and achievement of organizational vision and strategy
- Objectives and personal development plan- specific, clear, challenging, achievable objectives linked to audit, directly related to plan with stated outcomes, tasks, time frames, deadlines, monitoring points. Plan could include formal learning leading to qualifications, training courses, work shadowing, and job rotation or mentoring. Plan could include informal learning e.g. reading texts, learning from successes and mistakes, using diagnostic tools e.g. Myers Briggs; development of emotional intelligence, ability to learn, systems thinking
- Be able to reflect on the benefits of personal development in the achievement of personal growth and organizational vision and strategy
- Benefits of review – reviewing performance, learning from experience, repeating what is good, dealing with weaknesses, acknowledging success. Review can be used frequently to improve e.g. at key milestones, at the outset and conclusion of tasks, at the end of a meeting, after a difficult problem.
- Sources of information – appraisal outcomes, 360-degree feedback systems, client feedback, staff/colleague/superiors‟ feedback, personal observations, data, KPIs, business results.
6) International Business Environment
- Be able to analyses the international business environment
- Analysis techniques: Environmental analysis and diagnostics, Environment audit, Porter‟s diamond (The Competitive Advantage of Nations – Porter), PESTLE, „Five Forces‟ analysis.
- Micro-environment: Stakeholders, Suppliers, Customers, Competitors, Market intermediaries.
- Macro-environment: External climate, Economic conditions, Political opinion, Legal environment (national and international), Cultural environment, Resources, for example capital, people and natural, Technology.
- International business environment: Culture, Corporate Social Responsibility, Politics, Environmental Issues, Globalization.
- Understand the impact of globalization and international trade
- History: Economic theory, Dependency theory, Non-western cultures, Maritime European empires, Industrialization, Trade and empire, Bretton Wood, Development of communications, Information technology.
- Extent of globalization – Trade, labor movement, cultural exchange, technical development and exchange and capital
- Effects of globalization – Effects on markets, business change, capital, jobs and outsourcing, cultural dominance, natural resources, conflict; debates: benefits and challenges of globalization, advocates and critics
- Operations: International business conduct, Competition in different markets, International brand development, Protection of IP, Trade partnerships, Politics and regulation, Security, Ethics.
- Understand the international markets in which businesses operate
- Moral and Ethical issues: Organization purpose, Nature of business ethics, Corporate responsibility, Social responsibility, Corporate accountability, Corporate governance, Cultural conflict (For example: nature of bribes and rewards), Different economic models, Different ethical frameworks (theories: deontological and utilitarianism), Hofstede, Hall (monochronic and polychronic cultures).
- Conflicts: Current conflicts and issues should be examined
Examples include: climate change and environmentalism, anti-globalization and social
responsibility, „Peak Oil‟, greater insecurity, relationships with government, technological change and privacy concerns, social media, intellectual property issues
- Legislation: UK, European, global and other national legislation and guidance; global agreements on carbon; legislation on pollution; agreements on issues affecting specific industries, for example fishing agreements; institutions; codes of practice and guideline from international (e.g. OECD, ISGN), and industry (e.g. ISAR) bodies, reporting mechanisms (audit standards)
7) International Marketing
- Understand the implications of international marketing for organizations
International market research
- Validity of data produced in developing markets; international marketing information systems and their integration into organization-wide systems; suitability of different marketing research methods in an international context; use of environmental scanning tools in an international context
- Advantages, disadvantages and requirements of different methods of market entry; international agencies; multinational trading groups; role of UKTI, BIS and international development agencies in overseas trade; accommodation; availability of local labor and skills; international logistics, distribution networks and environmental/political conditions affecting them
- Reasons for market entry; associated issues; nature, size and maturity of local markets; barriers to success, return on investment. Start-up and ongoing costs; methods of financing international marketing; sources of finance; availability of local incentives; international insurance; multinational financial systems. Design of pricing structures; exchange rates and options; international insurance; shipping and import costs; factors affecting financial risk and their
strategic implications: e.g. market conditions, customers‟ creditworthiness, local government involvement in the economy; identification of financial risk; risk maps; financial risk treatment options; risk management in an international context (identifying issues, range of risk treatment options); local laws; foreign monetary policies and reducing exposure; risk sharing options; Suitability of different risk treatment options; role of foreign exchange markets; arbitrage; spot and forward exchange rates; hedging.
- Understand how to develop an international marketing strategy
Nature of the market
- Local economic and political conditions; impact of foreign business cultures on local communities; ethical considerations; potential for friction between local marketing objectives and strategies and corporate objectives and strategies; history of the market
International marketing methods
- Strategic international marketing planning; factors affecting the selection of marketing methods in an international context e.g. need for local endorsement, availability of technology and distribution networks, relationship management considerations
- Size and nature of the local market; presence and reputation of local and international competitors and rival products/services; local sensitivities; suitability of management styles for locally recruited employees; delivery models e.g. joint ventures, franchising and licensing, agents
- International market segmentation, targeting and positioning; international marketing mix; standardization v adaptation in the international marketing mix; organizational structures, locus of decision making powers and their potential impact; management control (centralized v decentralized)
- Implications for marketing, product; materials, safety, branding. Promotions; cultural regulations, restrictions. Distribution; PDM, use of agents. Market research. Pricing; tariffs
- Understand the requirements of international marketing communications
- Culture, ethics, local beliefs and practices; language issues; need for acceptance by community leaders and influencers; cultural and advertising taboos
Role of technology
- Integration of country marketing information systems into an international marketing information system; availability, reliability and functionality of technology; alternative methods of marketing communications
Implications and requirements
- Implications of cultural and language factors on operational management (e.g. recruitment and training of staff); availability and sophistication of local facilities to support sales and marketing communications strategies and activities
- Globalization and glocalization; advantages and disadvantages of glocalization; Brooks & No more; Govindarajan and McCreary
Human Resources Management
Module Description: This Module Human Resources will be able the Students to understand the concept of managing human resources on a strategic basis.
The subject will expose the students with the necessary knowledge on human resources process and general perspective dealing with HR issues in today’s organization.
Students will also be able to practically apply the knowledge in dealing
With HR functions and development in a way that helps to improve Organizational performance.
- Lectures 0
- Quizzes 0
- Duration 50 hours
- Skill level All levels
- Language English
- Students 0
- Assessments Yes