Theory and Practice of Strategic Management
Prof. Dr. Rudi K. F. Bresser
Firms employ strategic management concepts and techniques to ascertain their long-term profi tability and competitive advantage. Achieving such long-term advantages is diffi cult in contemporary business environments, which are becoming increasingly complex and dynamic. Research in strategic management is based on various theories and techniques which a fi rm’s top management can use in its pursuit of long-term advantages. It is the aim of this module’s lectures to familiarize students with the theoretical foundations of strategic management. Interactive discussion sessions based on case studies are used to help students analyze complex strategic problems and develop appropriate problem solutions.
Theories covered in the lectures include concepts developed in institutional economics, neo-institutional organization theory, evolutionary theory, as well as the resource-based theory of the fi rm. The case study sessions encompass analyses of strategic decision makers, business environments, and fi rm resources and capabilities. In addition, the sessions will focus on the strengths and weaknesses of alternative corporate and business level strategies and their implementation.