The goal of the course is to give engineering students an overview on how strategic planning and decision-making processes are carried out in companies. They will get to know the prerequisites (in addition to a suitable product or a suitable business idea) that are necessary in order to successfully position a business in the market. In addition, they are able to evaluate products or business ideas, taking into account the market environment and the competitive situation. Goal is to to be able to prepare sound management decisions.
- Development of the macro environment
- Analysis of competitors and markets
Analysis of own capabilities
- Resources, competencies and distinct capabilities
- Value chain and value system
Strategic purpose (vision, mission, values; stakeholders)
- Identifying strategic business units
- Competitive strategies (cost leadership, differentiation, focus)
Corporate strategy and diversification
- Forward and backward integration
- Value creation and the corporate parent
- Portfolio Management
Innovation and entrepreneurship
- Technology push or market pull
- Product or process innovation
- Open or closed innovation
- Technological or business model innovation
Mergers, acquisitions and alliances
Strategy planning process
Organization of companies
Excursion to the corporate strategy department of a high tech company
Teaching and learning methods
The lecture is accompanied by intense dicussions about pros and cons of specific strategy tools. There will be also discussions about case studies of specific companies.
Power Point Slides, Animations, Blackboard
The examination is done in written form at the end of the semester. Considering the learning objectives the theoretical and practical concepts of strategic management will be covered. The students should be able to explain notions, concepts, methods and the background of the covered topics. The students should also be able to discuss different solutions of specific practical problems from the entrepreneurial practice.
"Recommended literature: Gerry Johnson: Exploring Strategy - Text and Cases"