MMD7013 - Foundation of Senior Management

Objectives:

On successful completion of the module, students will be able to: Identify and develop the concept of business processes and critically apply to specific cases Make judgements on the appropriateness of management models and theories for particular organisational challenges Explain and examine the role of cost and management accounting in management process and decision making Recognise and assess the link between the main business functions and business strategy and the role of each business function in achieving organisational effectiveness Analyse, diagnose and design the strategic position of an organisation and formulate appropriate strategic option

Content:

Contemporary management faces a new competitive and uncertain environment which challenges the traditional standards and practices in organisational design and activity. Businesses have traditionally been organised on the basis of business functions: Finance, Marketing, Human Resources, Operations, Information Systems, etc. The module aims to develop the students' understanding of these principal functions. On the other hand, the new standard in management discipline emphasises the process dimension of business activities. From this perspective, the module addresses the issues and challenges of managing business processes. Further, it focuses on both operational and strategic level management. It provides the knowledge and skills needed to enable managers to assess organisational capability and understand the process of strategy formulation and implementation in the context of the internal and external environment of the organisation. The module provides the foundation for students (whatever the nature of their previous business experience) to study strategic management in depth.

Marketing
Marketing and competitive advantage, redefinition of marketing and the move beyond customer led
New thinking on marketing strategy and marketing excellence
Relationship Marketing
The development of asset and competency based thinking in marketing
The “hard” and “soft” elements of customer and competitor analysis
Structural, market and environment analysis
The management of the expanded marketing mix
The role and function of brand
The importance of Public Relations in the process of brand and corporate image creations

Finance
The accounting system: analysis and interpretation of published Company accounts
Budgeting processes and control
Cost accounting including cost structure, overheads, absorption costing versus marginal costing, standard costing
Break Even analysis
Source of finance
Investment appraisal and risk assessment

HRM
The main trends of changes in HRM
Development of HRM – reasons for the growth and models and theories
Corporate Culture (typology, creation)
The main functions of HRM (recruitment and selection, staff development, reward management – non-financial and financial rewards, staff appraisal, performance management)
Human Resource Planning – deployment and utilisation of human resources, flexible working practices and the psychological contact
New concepts and methods of HRM
Intellectual Capital Management Operation Management
Total Quality Management (TQM)
Business Processes Management
The relationship between corporate structure and efficiency of operations
Productivity Management
The value chain (categorising the core and support processes of specific organisations)
Creation of value added value in companies Strategic Management
Review of the main concepts and models of strategic management
The changing environment: economic, social, political and technological factors, industry and market structures
Organisational capabilities: analysing resources and strategic capability, core competence, organisational mission and objectives, culture and organisational value
The sources of competitive advantage
Strategy formulation: techniques and models for development and evaluating strategies, analyse strategic options, the strategic decision making process
Strategy implementation: resource management and control, information and performance measurement, the effects of structure power and systems

Learning and Teaching Information:

Students will be introduced to a wide selection of theoretical concepts and principles through various texts and a workbook for this module. The material will then be developed through discussion, commentary, and case study analysis. Interactive, small group sessions will comprise a mix of teaching and working both individually and in small groups. The key issues will be critically appraised, case studies on the various topics will be analysed, and a number of students' findings presented.

Lectures/workshops (online)
Hours: 72
Intended Group size: 25

Guided independent studies
Hours: 204

Intended Group size: 1

Tutorials/consultation Hours: 24
Intended Group size: 25

Further details relating to assessment
The individual assignments and exam allow students to demonstrate, and be assessed on, the knowledge and skills they acquire during the module, the assignments place greater emphasis on argumentation and in-depth understanding, while the exam on a comprehensive cross-section of topics covered.

Do all individual components need to be passed to pass the module overall? Yes
Is this module exempt from condonement of marginal failure? Yes

Other relevant matters
All modules and on-line support features are available to all students following registration for their chosen programme of study.