| 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.
|
| Examination |
|
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
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