Strategic Management Course Code
Program or Programs for which course is part
Master in Real Estate (MRE) Executive Master in Real Estate (E-MRE) Master in Real Estate and Finance (MRE(Fin)) Executive Master in Real Estate and Finance (E-MRE(Fin)) Master in Real Estate and Finance (MRE (Fin)) Semester Abroad Master in Real Estate and International Business (MRE-Int.Bus) Master in Real Estate and Marketing (MRE-Mkt) Master in Real Estate and Project Management (MRE-PM)
Level (I, H, or M)
Number of Credits
This course carries a weight of 20 credits of the Homburg Academy, which is equal to 10 ECTS (European Credit Transfer System credits).
This course requires approximately 200 hours of learning time. This includes all taught and supervised classes and all private study and research.
Stage (I or II, where applicable)
Is this Course Core, Specialist or Elective
Core for the MRE-Int.Bus Elective for the MRE, E-MRE, MRE(Fin), E-MRE(Fin), MRE(Mkt), and MRE(PM)
Courses that are prerequisite or co-requisite
Name of Course Convenor
Dr Ron Collins
Brief Course Summary This course is about strategic management, and its application to the Real Estate firm. It aims to impart to students an appreciation for, and understanding of, the nature, scope, and importance of strategy, and of strategic management for the Real Estate firm. Topics covered include the definition of strategic intent (Vision, Mission, Goals and Objectives); the process of Internal Appraisal (how to appreciate the strengths and weaknesses of the internal environment and organisational capabilities in various functional areas); Methods and techniques used for organisational appraisal (Value chain analysis, Financial and non financial analysis, historical analysis, Industry standards and benchmarking, balanced scorecard and key factor rating); The Environmental Appraisal (concept of environment, components of environment (Economic, legal, social, political and technological) and environmental scanning techniques; Corporate level strategies, and business level strategies; and the concepts of strategic control and operational control; Strategy implementation.
Course Objectives The intended learning outcomes of this course are to enable students to: 1. 2. 3. 4. 5. 6.
Know and understand essential concepts of business strategy and strategic planning; Understand concepts and procedures of industry and comparative analysis; Evaluate company resources and competitive capabilities; Understand strategic management processes; Understand how to control and evaluate business plans; Understand the role of culture, leadership, and international agencies in strategic planning and implementation.
These specific learning outcomes contribute to achieving the learning outcomes of the relevant programs by demonstrating knowledge of the following (mapped to the Program Specification): A. Advanced knowledge and understanding of: 12.A.1: Business strategy in Real Estate and how subject-specific knowledge of different disciplines can be drawn upon to assist strategic business decisions as these relate to the process of Real Estate acquisition, development, management, and the divestiture of Real Estate assets and holdings; 12.A.5: How to carry out an independent research project and write in a scholarly manner demonstrating familiarity with academic conventions in the preparation of the studentâ€™s case study report. B. Intellectual skills: 12.B.1: Develop general research skills, especially bibliographic and computing skills in finding, selecting, and analysing materials for the independent project;
12.B.2: Learn to gather, organise and deploy evidence, data and information from a variety of secondary and some primary sources; 12.B.4: Learn to identify, investigate, analyse, formulate and advocate solutions to problems; 12.B.5: Develop problem solving skills, including the ability to identify and define problems, and to establish strategies for dealing with them including criteria for success, mapping optimum and alternative solutions, and exercising critical judgement to discriminate between the ranges of alternatives; 12.B.6: Synthesise relevant information and exercise critical judgement in the development of reasoned arguments; 12.B.7: Enable students to reflect upon and manage their own learning, and seek to make use of constructive feedback from staff and peers to enhance their performance and personal skills.
C. Subject-Specific Skills 12.C.2: Understand the development process as one that is inherently interdisciplinary, and draws, in different stages of the development process, or cycle in the business strategy, on different kinds of knowledge and understanding and different forms of subject specific skills; 12.C.3: Be able to discriminate between forms of knowledge and be able to draw selectively and appropriately on them; 12.C.9: Understand the nature of international business and the strategies of multinational companies;
D. Transferable skills: 12.D.1: Develop autonomy in learning, work independently demonstrating initiative and self organisation; 12.D.2:. Work co-operatively on group tasks, understand how groups function, collaborate with others and contribute effectively to the achievement of common goals; 12.D.3: Use communication and information technology for the retrieval and presentation of information, in the form of prose or numeracy as appropriate; 12.D.4: Develop communication skills, both orally and in writing. Communicate clear, succinct, analytical ideas; 12.D.5: Prepare and deliver oral presentations individually and as part of a group.
List of Lecture Topics 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
The Nature of Strategic Management The Business Vision and Mission The External Assessment The Internal Assessment Strategies in Action Strategy Analysis and Choice Implementing Strategies: Management and Operations Issues Implementing Strategies: Marketing, Finance, Accounting, R&D, and MIS Issues Strategy Review and Evaluation Analysis of a Case Study in Real Estate
Learning and Teaching Methods Achievement of learning outcomes: the learning outcomes for this course are achieved through student participation in lectures (compulsory), in their active participation in seminars (compulsory), and in their fulfilment of the assessed elements (compulsory). This is a ten week course that is offered entirely online. In each week there is a lecture presentation for approximately one hour, plus an interactive seminar discussion for approximately one hour. Lecture presentations led by the course professor. The lectures are designed to introduce key theories, practices, and methods in real estate appraisal, and to guide students through an understanding of their rationale, their uses, and their limitations, so that students may both understand and reflect critically upon the techniques of strategic management in general and how these apply to the real estate firm. The lectures contribute to the achievement of learning outcomes by guiding students through the main theories, concepts, and debates in the scholarly literature, as well as the contested concepts and methods. Seminar Discussions are led by students under guidance of the course professor. The seminar is the opportunity for students to gain clarification of the lecture material and the reading materials. Also, through these guided discussions, it is intended that students will gain a comprehensive understanding by linking lectures, independent reading and class discussion, enabling students to apply concepts, theories, and methods to the practice of strategic management. Through dialogue, interaction, cooperation, and confrontation, students learn to formulate, structure, and defend their perspectives. Independent Study: students are expected to read the stipulated text for each lecture and seminar session, as well as to read more widely in recommended texts for this course. Additionally, students are expected to conduct independent research for their contribution to seminar discussions, and for their research project. Learning outcomes for independent study are achieved through studentsâ€™ own reading, research and preparation, seminar presentations, and in their research project.
Indicative Reading List Fred R David, Strategic Management, 11h Ed. Pearson Education, 2007
Method of Assessment (and how the chosen method of assessment is related to learning outcomes) Students will be assessed on the basis of unseen timed examinations, a research project, and contributions to class discussions (participation). The unseen timed examinations provide students with the opportunity to demonstrate their ability to retain and call upon specific knowledge in response to targeted questions, under the time strictures that replicate life in the professional world. Examinations test the studentâ€™s ability to reflect upon issues quickly, and to use reasoned judgement in response to questions. The research project provides students with an opportunity to focus in depth on a research question and undertake a structured investigation, analysis and reasoned argumentation. This enables students to demonstrate acquired knowledge and understanding of the key concepts, display an ability to find organise and use information, and interpret this material in a creative fashion. Students will have the opportunity to bring to bear competing explanations and positions to a coherent argument that demonstrates their ability to reflect critically on their own work. Contributions to class discussions (participation) provides students with an opportunity to demonstrate their preparation for class, through presentations designed to lead discussion and to engage debates and other issues in a scholarly manner.
Summary of Assessed Elements, and Percentage Weight of Each Element Unseen timed examination 1 Unseen timed examination 2 Group Project Class Participation
25% 25% 40% 10%