AØKA08101U  Strategic Management

Volume 2016/2017

BSc programme in Economics - elective from the 2.year 

MSc programme in Economics – elective course


The aim of the course is to provide students with an analytical qualitative foundation for developing a business strategy for an organisation based on tools within the area of strategic management, and drawing on different theories of economic value creation.

The course start by explaining some central terms, concept, and definition in the area of strategy as for instance the mission, vision and strategy of an organisation, and we will look into some different ways in which a strategy can be developed. In connection to this we will discuss behaviouralisme and the idea of bounded rationality.  

Next we will focus on how we can map and analyse the environment of a company and on how Porters Five Forces framework build on the neoclassical theory and the structure of conduct performance paradigm. Further we well determine competitive advantages and how economic value is created through the internal resources, activities, and competencies of the firm. Here we draw on the resource based view and evolutionary economic theory. Furthermore tools for mapping and analysing the political and cultural context of the company will be presented and in connection to this we will focus on principal/agent theory and behavoralistic theory.  

After this we will discuss how corporate strategies, business/competitive strategies, international strategies, growth strategies and strategies on innovation can be developed. We will look into the different roles for the patterning company and the size of the corporation drawing on transaction cost theory. When looking at the competitive strategies of the company we will discuss the importance of long-term commitment, game theory, neo-institutional theory and constitutional theory. Furthermore we will be concerned with entrepreneurship and innovation and some of Schumpeters ideas of value creation. We will also explain what kind of route companies develop through over the long-term view and what kind of classical growth problems they are faces with during this development. Finally, in this section we will look at how we can evaluate different strategies concerning their suitability, acceptability, and feasibility.    

In the last section of the course we will exemplify how companies can implement their strategies through organising the company, develop its functional areas and by managing strategic change. Again we will return to the ideas of bounded rationality and the management of stakeholders introduced within behavioural theory.

Learning Outcome

After completing the course, the student should be able to demonstrate:


  • About relevant terms, concepts, models, processes and perspectives within the field of strategic management

  • About economic theories that the terms, models and processes of strategic management draw upon

  • To understand how different strategy models and processes draw on different types of economic theory.


  • To identify strategic problems within organizations and industries.

  • To solve strategic problems within organizations and industries.

  • To talk about organizations and their environment within a clear and accurate language that make use of relevant terms and concepts from the field of strategic management and relevant economic theories.


  • In analysing organizations and their environments

  • In analysing strategic problems and argue for relevant strategic solutions

  • To develop strategies and creating a strategy implementation plan.

  • In discussing and evaluating the strength and weakness of the applied terms, concepts, models, processes and perspectives within the field of strategic management in relation to the behind economic theories.


Johnson, Whittington, Scholes, Angwin & Regnér: ”Exploring Strategy – Text Only – Tenth Edition”, Financial Time/Prentice Hall 2014. (530 pages)

Joseph T. Maghoney: “Economic Foundations of Strategy”, Saga Publications 2005. (200 pages)

Mehmet Barca: “Economic Foundations of Strategic Management”, Ashgate 2003 (selected parts).

In order to follow this course a basic understanding of micro and macro economics is necessary.
Within the classes a combination of lectures, group work, student speeches and plenum discussion are applied. It is expected that students participate in the lessons and during the lessons are willing to entre class discussions and make a group presenation of a case. As a consequence students must prepare the text and cases in advanced. Further students must be willing to engage in presentation and discussion of text and cases.

The course in Strategic Management can also be combined with the seminar in Strategic Management.
The course can also be supplemented by the course in Advanced Strategic Management, which goes further into deep with strategic challenges facing top management.

The course consists of 3 hours of classes (lectures) every week for 14 weeks.

Timetable and venue:
To see the time and location of classroom please press the link under "Se skema" (See schedule) at the right side of this page (16E means Autumn 2016).

You can find the similar information partly in English at
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-E16; [Name of course]””
-Select Report Type: List
-Select Period: “Efterrår/Autumn – Weeks 30-3”
Press: “ View Timetable”
7,5 ECTS
Type of assessment
Oral examination, 20 min under invigilation
A 20 minutes individual oral exam with around 17 minutes preparation.
The exam is in English or Danish. Language must be chosen at the course registration.
Exam registration requirements

In order to take the oral exam the students must hand in a 3 page individual exam paper before the exam. The date for this will be informed at the course.

Only certain aids allowed

It is allowed to look into written notes and books during the preparation. In the exam room it is only allowed to look into keywords on one page written during the preparation.

Marking scale
7-point grading scale
Censorship form
External censorship
100% censorship
Exam period

The oral exam is in week 49 (December 5 to 9, 2016) and week 50. The exact dates will be informed in Absalon by the administration.

For enrolled students more information about examination, exam/re-sit, rules etc. is available at the student intranet for Examination (English),student intranet for Examination (KA-Danish) and student intranet for Examination (BA-Danish).


Same as ordinary exam in week number 6 7 or 8 of 2017. The exact dates will be informed by the exam administration.


Criteria for exam assesment

Students are assessed on the extent to which they master the learning outcome for the course.

To receive the top grade, the student must be able to demonstrate in an excellent manner that he or she has acquired and can make use of the knowledge, skills and competencies listed in the learning outcomes.

  • Category
  • Hours
  • Lectures
  • 42
  • Preparation
  • 163,3
  • Exam
  • 0,7
  • Total
  • 206,0