Principles and Concepts of Strategy

Unit Level 5

Number of Credits 20

Total Qualification Time (TQT) 200 hours

Guided Learning Hours (GLH) 100 hours

Mandatory / Optional Mandatory

Task Grading Type Pass / Fail

Unit Aims

Simply put, strategy is about putting a business in the best place possible to gain competitive advantage in its target market. However, to achieve competitive advantage requires research, analysis, interpretation and strategic decision making. The aim of this unit is to develop learner’s knowledge and skills, so they are in a strong position to contribute to an organisation’s strategy development and implementation.

Learning Outcomes and Assessment Criteria Learning Outcome – The learner will:

Assessment Criteria – The learner can:

1. Understand the principles of business strategy.

1.1 Explain what is meant by the term ‘business strategy.’

1.2 Compare different levels of business strategy. 1.3 Compare elements of a strategic framework. 1.4 Explain strategy development processes.

2. Understand key business strategy theories and concepts.

2.1 Differentiate between different types of business strategies.

2.2 Compare the elements of a strategic management process.

2.3 Discuss key organisational theories which impact business strategy.

3. Be able to measure a business’s micro and macro environment.

3.1 Explain different techniques used to measure a business’s micro environment.

3.2 Apply techniques to measure a business’s micro environment.

3.3 Explain different techniques used to measure a business’s macro environment.

3.4 Apply techniques to measure a

business’s macro environment.

4. Understand a business’s strategic

options.

4.1 Explain what is meant by the term ‘strategic option.’

4.2 Compare different strategic options available to a business. 4.3 Recommend and justify a relevant strategic option which a business could

implement.

ASSIGNMENT BRIEFS | SEPTEMBER 2022 9 OTHM LEVEL 5 DIPLOMA IN BUSINESS MANAGEMENT

Scenario

You are employed as an intern in a large local business. Your internship is coming to an end so your mentor thinks it is time for you to develop your understanding of business strategy.

You have been directed by your mentor to work on a project where you will conduct some research on the topic of business strategy, and which will ultimately result in recommending a strategic option which the business could implement. To support you with this project your mentor has set you a series of tasks as follows.

Unit Title Principles and Concepts of Strategy

Task 1 of 3

Unit Learning Outcomes Assessment Criteria

LO 1 Understand the principles of business strategy. 1.1, 1.2, 1.3, 1.4

LO 2 Understand key business strategy theories and concepts. 2.1, 2.2, 2.3

LO 4 Understand a business’s strategic options. 4.1

Assignment Brief and Guidance

To demonstrate you have sufficient fundamental knowledge to be able to make a justified recommendation, you are to produce a report which considers the following; • the concept of business strategy

• levels of business strategy • elements of a strategic framework • a strategy development process • types of business strategies • elements of a strategic management process • key organisational theories which relate to business strategy • the concept of strategic options

Delivery and Submission

The submission is in the form of a report written in Word format. The recommended word limit is 1500 words excluding diagrams, references, and

appendices.