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2021/2022  DIP-DIBUO1002U  Strategy and decision making

English Title
Strategy and decision making

Course information

Language English
Course ECTS 5 ECTS
Type Mandatory
Level Graduate Diploma
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for Graduate Diploma in Business Administration (part 2)
Course coordinator
  • Carmelo Cennamo - Department of Strategy and Innovation (SI)
  • Evis Sinani - Department of International Economics, Goverment and Business (EGB)
Main academic disciplines
  • Globalisation and international business
Teaching methods
  • Blended learning
Last updated on 21-05-2021

Relevant links

Learning objectives
At the end of the course the student should be able to demonstrate:
  • An understanding of and familiarity with theories, concepts and cases covered by curriculum.
  • An analytical ability to ponder the different perspectives of the strategic decision process in applied contexts.
  • An ability to apply the theories and concepts in strategic analysis of concrete company cases.
  • An understanding of the central issues for strategy formulation that current business challenges, such as digitalization, pose for firms, and ability to critically assess the scope, limits and complementarities of applying the different theories and concepts covered in the course to those challenges.
Strategy and Decision Making:
Exam ECTS 5
Examination form Written sit-in exam on CBS' computers
Individual or group exam Individual exam
Assignment type Written assignment
Duration 4 hours
Grading scale 7-point grading scale
Examiner(s) One internal examiner
Exam period Autumn
Aids Closed book: no aids
However, at all written sit-in exams the student has access to the basic IT application package (Microsoft Office (minus Excel), digital pen and paper, 7-zip file manager, Adobe Acrobat, Texlive, VLC player, Windows Media Player), and the student is allowed to bring simple writing and drawing utensils (non-digital). PLEASE NOTE: Students are not allowed to communicate with others during the exam.
Make-up exam/re-exam Oral Exam
Duration: 20 min. per student, including examiners' discussion of grade, and informing plus explaining the grade
Preparation time: No preparation
Examiner(s): If it is an internal examination, there will be a second internal examiner at the re-exam. If it is an external examination, there will be an external examiner.
Course content, structure and pedagogical approach

The objective of this course is to provide systematic insights on the relevant strategic decisions that modern firms need to ponder, with special emphasis on recent trends in industrial and strategic dynamics as they relate to digitization of firm processes and digital transformation at the sector and market level. Focusing on the strategic decision making, different theoretical perspectives will be considered, at the micro (individuals/firm processes) and macro (inter-firm/industry strategic dynamics) level. We will review the different perspectives of the theory of the firm, including transaction cost theory, agency theory, resource-based view, and the different strategy “schools”, from the early industry-based perspectives to more recent customer-centered frameworks on value creation and value capture. The theoretical perspectives are considered complementary rather than mutually exclusive in analyzing the strategic issues covered in the course; they will be used to assess the issue at stand from multiple aspects and ponder the different possible range of strategic decisions for strategy formulation. Case studies of companies and strategic problem simulations form an important input into class discussions. The strategy themes that we discuss include both traditional aspects of any firm strategy (such as “make-or-buy” decisions) as well as more disruptive innovation strategies, such as platform market strategy, ecosystem strategy, and more generally digital transformation strategies.


Description of the teaching methods
A proactive learning approach will be taken, whereby lectures are combined with class discussion, cases analysis, videos and short simulations to stimulate critical thinking about the topics covered in each session throughout the course.
Feedback during the teaching period
Feedback will be provided through the course on team presentations, which will be an integral part to the teaching/learning activity. Students will work in teams to analyze and discuss cases and simulate real strategic decision issues and present (and defend) their own strategy formulation in a “pitching-like” format (details will be provided at the beginning of the course).

Student workload
Written exam 4 hours
Lectures 25 hours
Further Information

Lectures will take place every Tuesday and Thursday from week 46 to 49/2021.


Written exam in week 50/2021

Expected literature
  • Bazerman, M. & Moore, D. 2013: Judgement in managerial decision making (8th Ed.) Wiley
  • Cennamo C., 2019, Competing in digital markets: A platform-based perspective. Academy of Management Perspective https:/​/​doi.org/​10.5465/​amp.2016.0048
  • Ozalp H., Cennamo C. Gawer A. 2018. Disruption in platform-based ecosystems. Journal of Management Studies, 55(7): 1203-1241. https:/​/​doi.org/​10.1111/​joms.12351
  • Cennamo C., Meyer T. 2018. Digital Transformation and the Value of Incumbents' Complementary Assets: The Substitution Effect of Digital Platforms. Available at SSRN: https:/​/​ssrn.com/​abstract=3218170
  • Jacobides M, Cennamo C, Gawer A. 2018. Towards a theory of ecosystems. Strategic management journal, 39(8): 2255-2276
  • Cennamo C and Santalo J. 2013. Platform competition: Strategic tradeoffs in platform markets. Strategic management journal, 34: 1331–1350
  • Adner R. 2017. Ecosystem as structure: An actionable construct for strategy. Journal of Management, Vol. 43: 39–58
  • Adner R. 2016. Match your innovation strategy to your innovation ecosystem. Harvard Business Review 
  • Das T. & Teng, B. 1999: Cognitive biases and strategic decision processes: An integrative perspective, Journal of Management Studies, 36(6): 757-778
  • Hagiu A. (2014). Strategic decisions for multisided platforms. MIT Sloan Management Review. https:/​/​sloanreview-mit-edu.esc-web.lib.cbs.dk:8443/​article/​strategic-decisions-for-multisided-platforms/​
  • Leiblein, M.; Reuer, J.; & Zenger, T. 2018: What makes a decision strategic? Strategy Science, 3(4): 558-573
  • Schwenk, C. 1988: The cognitive perspective on strategic decision making. Journal of Management Studies, 25(1): 41-55
  • Schwenk, C. 1995: Strategic decision making. Journal of Management, 21(3): 471-493
  • Hoskisson R., Hitt M., Wan W., Yiu D. (1999). Theory and research in strategic management: Swings of a pendulum. Journal of Management, 25(3): 471-456. https:/​/​journals-sagepub-com.esc-web.lib.cbs.dk:8443/​doi/​abs/​10.1177/​014920639902500307
  • Priem R. (2007). A consumer perspective on value creation. Academy of Management Review, vol. 32: 219-235. http:/​/​web.b.ebscohost.com.esc-web.lib.cbs.dk/​ehost/​detail/​detail?vid=6&sid=332c7bd6-86e2-43d2-8965-f36210a6910e%40pdc-v-sessmgr03&bdata=JnNpdGU9ZWhvc3QtbGl2ZSZzY29wZT1zaXRl#AN=23464055&db=bth
  • Mintzberg, H. (1987): The Strategy Concept I: Five Ps For Strategy, California Management Review, Fall 1987 (14 p.) http:/​/​esc-web.lib.cbs.dk/​login?url=http:/​/​search.ebscohost.com.esc-web.lib.cbs.dk/​login.aspx?direct=true&db=bth&AN=4760299&login.asp&site=ehost-live&scope=site
  • Williamson, O., 1979. Transaction Cost Economics: The Governance of Contractual Relations, Journal of Law and Economics 22(2), 233-261  http:/​/​www.jstor.org/​stable/​725118
  • Barney, J. (1991: Firm Resources and Sustained Competitive Advantage, Journal of Management, 17: 99-120 (19 p.)  https:/​/​doi.org/​10.1177%2F014920639101700108 
Last updated on 21-05-2021