PM303 Strategic Management Assessment Answers

PM303 Task Answers

This course is identified as the Strategic Management course which is focused on helping the students understand how a business organization functions and what are the core strategies and issues in running a business unit. The Strategic Management course is designed to explore an organisation's vision, mission, examine principles, techniques and models of organisational and environmental analysis, discuss the theory and practice of strategy formulation and implementation such as corporate governance and business ethics.

This course is extremely helpful for fresher to acquire the necessary knowledge during undergraduate studies as well as on-the-job. It helps one ensure that they are up to date on the latest business growth strategies as well as on the newest tools for strategic planning models. This is not about repeating knowledge. For example, a strategic management course for new general managers should build cross-functional skills and focus on how to implement corporate strategy across functions.

That's because functions are not isolated from one another, and general managers need to know how all business functions work together. In contrast, a strategic management course for more senior managers will probably focus on international business management and developing new business opportunities. Moreover it will also help the students to improve their overall leadership skills and overall help the students build their career prospects.

A strategic management course will ultimately give students an opportunity to step back and observe their own leadership style and effectiveness. Leadership exercises and executive leadership coaching help one gain new perspectives and get the "feel" for their leadership skills in a safe and supportive environment.

Unit Details:

The course emphasizes the value and process of strategic management. In addition to familiarising students with new subject matter, students are expected to integrate and apply their prior learning to strategic decision making in organisations. The Strategic Management course is designed to explore an organisation’s vision, mission, examine principles, techniques and models of organisational and environmental analysis, discuss the theory and practice of strategy formulation and implementation such as corporate governance and business ethics for the development of effective strategic leadership.

The course unit is designed in a very systematic manner. The unit plan is also provided with sufficient examples and various class room activities that will help the students easily understand the lessons as well as test their abilities and improve their existing capabilities. The aim is to maintain the right balance in terms of giving proper theoretical information as well as providing practical exposure for the students.

Some of the topics that are to be discussed in these unit courses are: Creating value and diversification, outsourcing, acquisitions, internal new ventures, international strategic alliances, and restructuring. Horizontal and vertical integration. Strategic leadership, creating a learning organisation and an ethical organisation. Strategic control and corporate governance.

The focus is to help the students learn about how they can manage businesses and projects proactively with a focus on long-term strategy, rather than reacting to day-to-day hiccups along with analysing factors like competitor behaviour and market movements into their decision making.

Location: United Kingdom

Study Level: Postgraduate and Undergraduate

Unit Code: PM303

Brief of Assessment:

The course assessment as already mentioned can be identified in different units where each unit addresses individual topics that altogether will help the student better understand the conceptual and theoretical implications of business communication. For instance the first unit is basically meant for understanding the concept of strategic management. The units are designed in a very strategic manner to ensure that there is no confusion or difficulty in understanding the whole course.

The discussions with ensure that the students can have absolute clarity of information. The students in this course unit will be marked upon their theoretical knowledge along with practical exposure and their understanding of the concepts. The focus would be on developing a holistic assessment structure that will enable the students to completely understand the different concepts and aspects related to business communication and how it can be practically implemented in a real business setting.

It is actually important for the students to enrol for this course because Strategic management, especially when done well, is important for a business' long-term success. The business will then create clear, well-defined plans that it will then put in action to achieve its goals and to align its business activities, so that the business will be in harmony with those goals

Weightage of the PM303 Course Code in the Semester:

PM303 Strategic Management is a full time course which is meant for the undergraduate students to help them get a proper introduction to the concepts of strategic management and how it is implemented in a business organization. The practical examination carries more than 30% weightage while the theoretical examination holds the rest 70% and for allowing the students to qualify for the next semester it is actually important for them to at least secure the basic pass marks that confirm them for the eligibility criteria of the university.

The university is very strict regarding the rules and procedures of how it should maintain a proper decorum and ensure high quality in academic performance for all its students. It is necessary for the students to abide by the same in order to avoid any penalty from the college authorities. Important aspects of strategy formulation include developing a business mission, performing an external audit, conducting an internal audit, generating alternative strategies, and choosing among alternative strategies.

Performing an external audit generally takes the most time. The university is extremely quality conscious and this is exactly the reason why it emphasises on the aspect of ensuring that the students do not face any challenges in understanding of the concepts and theories. The university also arranges for various classroom discussions session and group projects along with planning industry visits and workshops.

This will actually help the students to understand these concepts in a better manner and also ensure that the course is interactive and interesting. The university management also provides equal significance on the feedback of the students to check whether they face any issue with the teachers or with the understanding of the overall course material.

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