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MM309 - Business Evolution

MM309-Business Evolution

Module Provider: International Business and Strategy
Number of credits: 20 [10 ECTS credits]
Level:6
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Prof Peter Scott
Email: p.m.scott@henley.ac.uk

Type of module:

Summary module description:

This module examines time-dependent phenomena in business & management and explains how evolutionary processes can lead to radically different outcomes to those predicted by neoclassical economics. The module looks at various time-dependent business phenomena and their impacts on firm survival, growth, domination, or extinction. A combination of theoretical models, case-studies, and statistical data are used to explain the models and their explanatory and predictive value. 


Aims:

The module examines a variety of time-dependent models in business and management (first-mover advantages; managerial rigidity; disruptive innovation; “Kodak problems,” “the wheel of retailing”, etc.)  and tests their salience and importance via detailed case-studies and other evidence. It thereby gives the students an insight into factors that are threats, and/or opportunities for firms and how to avoid the risk of product, industry, or business model decline or “redundancy”. 


Assessable learning outcomes:

Students will be made aware of time-dependent models that predict outcomes differently from neoclassical economics. 



Students will be able to test these models, using firm and industry case-studies and evaluate their importance and generalisability.



Students will be able to critique standard neoclassical models of business using an evolutionary perspective. 


Additional outcomes:

Students will be able to critique real-world business phenomena, using both static and evolutionary theories. They will also be able to benefit from essay writing and case-study skills.


Outline content:

Indicative topics include:  




  • business model inertia;  

  • path dependence;  

  • radical innovation;  

  • the “wheel of retailing” and similar evolutionary models; 

  • first mover advantages;  

  • product cycles;  

  • financialization and short-termism. 


Brief description of teaching and learning methods:

Lectures that will introduce the phenomenon, look at the dominant neoclassical economics models, then moving on to time-dependent models. The models will then to be tested using case-studies, statistical data, and other data, to see which models are most useful for explaining and predicting outcomes. 


Contact hours:
  Autumn Spring Summer
Lectures 20
Seminars 4
Guided independent study:      
    Wider reading (independent) 20
    Wider reading (directed) 50
    Exam revision/preparation 6 27
    Advance preparation for classes 20
    Preparation for seminars 18
    Essay preparation 30
    Reflection 5
       
Total hours by term 0 173 27
       
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Written exam 60
Written assignment including essay 40

Summative assessment- Examinations:

A two hour  “open book”  exam (choice of two questions out of six). 


Summative assessment- Coursework and in-class tests:

One 2,500 word essay to be submitted in teaching week 10 of the spring term. 


Formative assessment methods:

The seminars will provide opportunities for formative feedback, as will the essays. 


Penalties for late submission:

Standard penalties apply.


Assessment requirements for a pass:

A weighted mark of 40%. 


Reassessment arrangements:

By examination only. Re-examination for Finals takes place in August of the same year (students can choose two out of six questions).


Additional Costs (specified where applicable):

N/A


Last updated: 12 April 2023

THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.

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