FIRM STRATEGIES

The course is one of the elective courses of the degree programme in Business Administration that allow students to gain knowledge of and understand the nature of management activities from a strategy perspective.
The course provides a general introduction to basic concepts and theories of strategy. The objectives of the course are: gaining basic knowledge of topics in strategy formulation in highly uncertain contexts, understanding tools and models that allow to interpret and critically analyze the strategic challenges facing contemporary firms, developing the ability to apply such knowledge, tools and models to the assessment and resolution of concrete strategic problems.

Attendance and active participation to the three formative activities proposed by the course (taught classes, teamworks, management guest lectures) coupled with systematic individual study will allow students to achieve the following learning outcomes:
1. Knowledge and understanding
1.1 Knowledge and understanding of the different theoretical approaches to the study of competitive advantage
1.2 Knowledge and understanding of tools and models for the interpretation of the strategic challenges that contemporary firms face when dealing with competitors, customers, value chain partners as well as with the broader socio-economic, technological, institutional and international context
1.3 Knowledge and understanding of the different strategic options available to firms facing uncertain competitive environments
2. Ability to apply knowledge and understanding
2.1 Ability to apply the different theoretical approaches to competitive advantage to real-world cases
2.2 Ability to apply models and tools to interpret the competitive environment in which firms operate and effectively analyze the resulting strategic challenges
3. Judgement
3.1 Ability to determine which theoretical approaches, tools and models are more appropriate to effectively evaluate the strategic challenges facing contemporary firms, in relation to the characteristics of the industrial, institutional, technological and international environment in which these operate
3.2 Ability to critically evaluate the most suitable strategic options, given the characteristics of the industrial, institutional, technological and international environment in which firms operate

Propaedeutic subjects: Business Administration (http://www.unive.it/pag/fileadmin/user_upload/cdl/laurea/et11/documenti/2017-18/propedeuticitaET11.pdf )
Basic knowledge of the theory of the firm, microeconomics, and basic management concepts, including knowledge of the nature and activities of the firm's business functions will be taken for granted.

The course will cover the following topics:
- The concept of strategy
- The concept of competitive advantage
- The resource-based theory
- Industry evolution and strategic change
- The strategic management of innovation
- Corporate strategies (diversification, vertical integration and internazionalization strategies)
- Strategy implementation

The topics covered in the course will be examined in depth by adopting different theoretical perspectives; applications to specific industry settings and real-world cases will be proposed.

Compulsory text

Robert M. Grant (2016) L'analisi strategica per le decisioni aziendali, Quinta edizione, Editore: Il Mulino
Chapters: 1, 5, 8, 9, 11, 12, 13

The students' learning achievements are evaluated based on:
1. their participation to the 4 practical classes in which case studies will be analyzed and discussed in groups;
2. the 25 minutes written exam at the end of the course, which will be composed of 1 essay question (which grants a maximum of 4 points) and 13 multiple choice questions (multiple choice questions grant a maximum of 2 points each; each wrong answer deducts 0.5 points).

For students not attending the course, learning achievements will be evaluated exclusively based the written exam.

Exam questions cover both theoretical issues and concrete management problems, with the aim to verify theoretical knowledge as well as capabilities in the application of models, tools and approaches to the analysis of complex business situations.

The course teaching method is based on the combination of frontally-taught classes, teamworks, and practitioner guest lectures.
Teamworks require students to analyze real-world case studies dealing with some of the most important theoretical topics covered in the course, to collaborate to solve strategic problems proposed by the instructor, and to discuss solutions in the classroom, with the aim to develop competences in the application of models, tools and theoretical approaches to real-world business cases, and to build up capabilities in the critical evaluation of different strategic options.
Practitioner guest lectures allow to put into contexts tools and theoretical models by leveraging the speakers' direct experience in the strategic management of real-world firms.

Italian

written

This subject deals with topics related to the macro-area "Circular economy, innovation, work" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development