• explain how the different theories of strategy form an organisation’s view of the world and limit its choices
• make qualified analyses of a company’s possibilities of action within the constraint of different strategic frameworks
• present, discuss and criticise a company’s strategic choices in the global marketplace from an industry-based view, a resource-based view and an institutional view
• present and discuss their recommended actions vis-a-vis business cases and appreciate the limitations of those recommendations
• critically evaluate the benefits and drawbacks of the different strategies discussed in the course

The purpose of this course is to give students an understanding of the different theoretical views of strategy, as well as giving them an understanding of the practical application of the different approaches when designing international business strategy.

First, the course addresses the theoretical and managerial consequences of different schools of strategy and examine the advantages, disadvantages and blind spots of each theoretical framework. These theories will give an insight into descriptive theories of strategy and the analytical processes of formulating prescriptive strategies, in order to show how strategy is used in business analysis and planning.

The second part of the course focuses on international business strategy, including how the industry structure influences an organisation’s choice of position in the global marketplace, how the company’s resources determine the competitive advantage, and the role on the institutional environment. This latter perspective will examine how formal and informal institutions reduce uncertainty, how and why isomorphism constrains an organisation’s space of action, and how path dependency influences, and limits, future possibilities of strategy decisions.

Business cases are used throughout the course in order to train students to identify and evaluate different strategies and problem solving methods. The cases touch on concrete, strategic choices faced by managers and organisations and cover international strategy from different, geographical directions. They will address the strategic choices which confront Western MNEs, and how enterprises from the developing world engage in the mature markets for products and services in the West.

Students’ ability to engage in qualified discussions on the basis of the above is developed through business cases and group presentations throughout the course.

Indicative literature:

Mintzberg et al.: Strategy Safari. The free Press.