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This module explores how strategic management creates persistent superior performance for organisations in general and business firms in particular. It considers the themes of competitive advantage and strategy, set in the contexts of both the determination of the strategic direction and the management of the strategic process. The view adopted is that of a general manager whose ultimate responsibility is the long-term health of an entire organisation or a major division within an organisation. This perspective enables us to view the organisation in an overall fashion in the context of its external environment. In that context, the focus is on companies, be they large or small, which are not single businesses but groups, comprising a portfolio of more or less separate business units and one or more levels of corporate management. The module examines how the CEO of a multi-business company, an advisor to the CEO, or a business unit manager who wants to collaborate with another business unit, identifies and applies which corporate strategies can be used to compete as a collection of multiple businesses. Associated corporate strategy challenges which arise are: i) portfolio composition - which businesses should a company be in, and how can a company enter these businesses and exit from others? ii) portfolio organisation - how should a company be organised to create value across the different businesses?

Concept and frameworks are introduced that are rooted in the theory of strategy and management, which have proved valuable in practice. Key concepts relating to strategy, competition, competencies and customers are combined with analyses of choices firms make to achieve their objectives. Overall, the module sets a focus on the thinking, skills and actions required of the manager for the development, communication and implementation of strategic organisational choices towards organisational success.