Foundations of Strategy
Study Board of Business Economics
Teaching language: English
EKA: B150199112, B150199102
Censorship: Second examiner: None
Grading: Pass/Fail, 7-point grading scale
Offered in: Odense
Offered in: Autumn
Level: Master
Course ID: B150199101
ECTS value: 10
Date of Approval: 21-03-2022
Duration: 1 semester
Course ID
Course Title
Teaching language
ECTS value
Responsible study board
Date of Approval
Course Responsible
Offered in
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Offered in
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Recommended prerequisites
Aim and purpose
Foundations of strategy is a core course in the Strategy and Organization master. It presents the theories that comprise state-of-the-art in strategy research. This level of knowledge, as well as the ability to engage directly with research literature, provides a foundation for the further courses in the strategy and organizations profiles.
The aim of this course is to:
- provide a comprehensive understanding of standard approaches to analyze competitive advantage at the firm, industry and network levels
- give the students skills in using the principles laid out in this course to examine and solve strategic problems for a master thesis and in a managerial career.
- improve the students' abilities to read, assimilate, argue, and put to use texts from the research literature.
Content
Issues relating to strategic decisions and market processes are an integral part of these topics. The most influential recent contributions to theories about strategy are presented, including theories of industrial organization and technological change, competence- and resource-based theory, transaction cost and property rights economics as well as relational approaches.
This course is centered on three main topics:
- Industry and context analysis: Market Power and Dominant Firms; Market Power and Product Quality; Strategic Behavior with Applications (advertising, R&D, learning); Conducting an analysis of markets, industries and strategic groups.
- Analysis of the firm: The Resource Based View; rent analysis; bargaining; dynamic capabilities.
- The Structure and Boundaries of the firm: Transaction Costs and Property Rights; Relational rents; Diversification and Integration; Identifying sources of competitive advantage; Analysis of markets and asset stocks.
Learning goals
Description of outcome - Knowledge
• Explain the theories that represent state-of-the-art in strategy research.
• Explain how these theories relate to each other.
• Explain the conditions under which each theory can be applied and what can be gained from such application.
• Explain how these theories relate to each other.
• Explain the conditions under which each theory can be applied and what can be gained from such application.
Description of outcome - Skills
• Evaluate and use the theories that represent state-of-the-art in strategy research.
• Conduct an informed, insightful, and well-structured strategic analysis of firms and industries.
• Analyze strategic problems relating to ownership, including the boundaries and structure of the firm.
• Conduct an informed, insightful, and well-structured strategic analysis of firms and industries.
• Analyze strategic problems relating to ownership, including the boundaries and structure of the firm.
Description of outcome - Competences
• Read and relate articles from the state-of-the-art strategy research literature.
• Do proper analysis of problems in firms or institutions related to strategy.
• Communicate and argue for solutions to strategic problems.
• Use the principles laid out in this course to examine and solve strategic problems for a master thesis.
• Use the principles laid out in this course to examine and solve strategic problems for a master thesis.
Literature
The classroom activities draw on a mix of journal articles and selected book chapters. A potential textbook could be “Industrial Organization,” J. Church & R. Ware (Boston, 2000). A background textbook, along the lines of “Economics of Strategy,” D. Besanko et al (Hoboken , 2013, will be used to help framing and relating the research articles, which includes central pieces on Transaction Cost Economics, Resource-Based View, and Industrial Organization. The reading is roughly 1400 pages, and the reading list is announced at the beginning of the semester.
Teaching Method
Lectures, student exercises, and class discussions in English. The learning activities support the students in achieving the aim of the course through readings and reading exercises, lectures, group work, e-learning activities, illustrative empirical materials and cases, and classroom games. To ensure proper learning outcomes, the students must prepare for class and be motivated to participate actively in the teaching activities. Preparation includes reading, summarizing/exercises, and reflection.
Workload
Scheduled classes:
3 hours weekly in 15 weeks.
Workload:
These activities result in an estimated distribution of the work effort of an average student as follows:
- Lectures: 45 hours.
- Preparation for class, reading: 185 hours.
- Mandatory assignment: 15 hours.
- Exam, including preparation: 25 hours.
- In total: 270 hours.
Examination regulations
Exam
Name
Exam
Timing
Exam:
Home assignment: November
In situ exam: January.
Reexam:
Home assignment November/december
In situ exam: February.
Home assignment November/december
In situ exam: February.
Tests
Home assignment
Name
Home assignment
Form of examination
Take-home assignment
Censorship
Second examiner: None
Grading
Pass/Fail
Identification
Student Identification Card - Exam number
Language
English
Duration
1 week
Length
Maximum 2 standard pages (of 2400 keystrokes including spaces)
Examination aids
All exam aids allowed. It is not allowed to communicate with others.
Assignment handover
Digital hand-out via "Digital Exam".
Assignment handin
Digital hand in via "Digital Exam".
ECTS value
1
Additional information
The assignment is a review of one or a few of the research articles from the syllabus, focusing on contribution and implications.
EKA
B150199112
Written exam
Name
Written exam
Form of examination
Written examination on premises
Censorship
Second examiner: None
Grading
7-point grading scale
Identification
Student Identification Card - Exam number
Language
English
Duration
3 hours written exam.
Length
Maximum 6 standard pages (of 2400 keystrokes including spaces).
Examination aids
All exam aids allowed.
It is not allowed to communicate with others.
It is not allowed to communicate with others.
Assignment handover
Digital hand-out via "Digital Exam".
Assignment handin
Digital submission via "Digital Exam".
ECTS value
9
Additional information
The examination is based on 2-5 broad questions that invite independent thinking and use of the material taught in this course.
EKA
B150199102
External comment
NOTE - This course is identical with the former course B150033101 Foundations of Strategy.
Used examination attempts in the former identical course will be transferred.
Courses that are identical with former courses that are passed according to applied rules cannot be retaken.
Courses offered
Teachers
| Name | Department | City | |
|---|---|---|---|
| Franziska Lauenstein | fsu@sam.sdu.dk | Strategic Organization Design (SOD) | Odense |
| Michael Christensen | chm@sam.sdu.dk | Strategic Organization Design (SOD) | Odense |
| Torben Thorbjørn Knudsen | tok@sam.sdu.dk | Strategic Organization Design (SOD) | Odense |