Course Title: Fundamentals of Business Strategy and Innovation
Part A: Course Overview
Course Title: Fundamentals of Business Strategy and Innovation
Credit Points: 12.00
Course Coordinator: Dr. Ashenafi Biru
Course Coordinator Phone: +61399251143
Course Coordinator Email: Ashenafi.biru@rmit.edu.au
Course Coordinator Location: RMIT Building 80
Course Coordinator Availability: On appointment
Pre-requisite Courses and Assumed Knowledge and Capabilities
None
Course Description
This course is designed to familiarise you with the core concepts of business strategy and innovation, as well as the essential principles, tools, and frameworks of strategic management and innovation models that play a pivotal role in guiding effective strategists within leading organisations. The course places particular emphasis on providing a comprehensive understanding of how businesses innovate and strategically formulate and execute their plans to secure sustainable competitive advantages within ever-evolving market landscapes. The course will equip you with the essential skills and knowledge to analyse, develop, and enhance innovative strategic business models for organisations.
Objectives/Learning Outcomes/Capability Development
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On successful completion of this course, you will be able to:
- Explain key business strategy and innovation concepts and theories such as competitive advantage, industry analysis and value creation and illustrate their interconnectedness in shaping business strategies.
- Describe internal and external factors that influence business environments, like market trends and organisational capabilities, and explain their role in strategic decision-making.
- Apply strategy and innovation tools to evaluate real-world business situations and develop adaptive strategies for dynamic contexts.
- Collaborate effectively in teams to evaluate business models for their value, adaptability and ethical implications in fluctuating markets.
- Utilise digital tools and technologies to collect, assess and present business data for informed strategic decisions and innovation.
- Critically assess the ethical and social implications of business strategies, showcasing a grasp of global responsibilities in strategic decision-making.
Overview of Learning Activities
This course is delivered as a blend of face-to-face activities and online learning. Learning will be supported through in-class and online activities such as: personal development activities; guest speakers/expert commentators; Case studies, prescribed readings; practical tasks; seeking and providing peer feedback; and reflective praxis.
Overview of Learning Resources
Various learning resources are available online through MyRMIT Studies/Canvas. Class activities, recordings, notes and outcomes are posted on Canvas.
Resources are also available online through RMIT Library databases and other facilities. Visit the RMIT library website for further details. Assistance is available online via our chat and email services, face to face at our campus libraries or via the telephone on (03) 9925 2020.
Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period.
Overview of Assessment
The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows.
Assessment Task 1: 20%
Linked CLOs: 1, 2
Assessment Task 2: 40%
Linked CLOs: 2, 3, 4, 6
Assessment Task 3: 40%
Linked CLOs: 1, 2, 3, 5
Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on progress, outcomes and approaches, and by individual consultation.