Strategic Management

Course content

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.


MSc programme in Economics – elective course

Bacheloruddannelsen i økonomi – valgfag fra 2. år

The Danish BSc programme in Economics - elective from the 2nd year

Sidefagsuddannelsen i Økonomi-Erhvervsøkonomi - valgfag på KA delen

Learning outcome

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


  • In relevant terms, concepts, models, processes and perspectives within the field of strategic management
  • In economic theories that the terms, models and processes of strategic management draw upon



  • 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 strategic problems and argue for relevant strategic solutions
  • 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.


The course provides students with competences in analysing organizations and their environments. Furthermore the course gives students competences in developing strategies and in creating a strategy implementation plan. Finally the provide students with an understanding of how different strategy models and processes draw on different types of economic theory.

Within the classes a combination of lectures, group work, student speeches and plenum discussion are applied. 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.

  • Johnson, Whittington, Scholes, Angwin & Regnér: ”Exploring Strategy Eleventh  Edition”, Financial Time/Prentice Hall 2017. (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 macroeconomics is necessary as from Principle of Economics A (Økonomiske Principper A) and Principle of Economics B (Økonomiske Principper B) at the first year of the Bachelor in Economics.

3 hours lectures a week from week 36 to 50 (except week 42).

The overall schema for the BA can be seen at https:/​/​​polit_ba/​undervisning/​Lektionsplan-E18/​skemaer/​Sider/​default.aspx
or the Master at https:/​/​​economics_ma/​courses/​CourseCatalogue-E18/​Courseschema/​Pages/​default.aspx

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

You can find the similar information partly in English at
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-E18; [Name of course]””
-Select Report Type: “List – Weekdays”
-Select Period: “Efterår/Autumn – Weeks 31-5”
Press: “ View Timetable”

7,5 ECTS
Type of assessment
Oral examination, 20 min under invigilation
- individual oral exam with around 17 minutes preparation.
The exam must be performed in English. It is no longer possible to perform the oral exam in Danish/Scandinavian otherwise through a received dispensation.
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
Criteria for exam assessment

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

To receive the top grade, the student must with no or only a few minor weaknesses be able to demonstrate an excellent performance displaying a high level of command of all aspects of the relevant material and can make use of the knowledge, skills and competencies listed in the learning outcomes.



Single subject courses (day)

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