MM309: Business Evolution

Module code: MM309

Module provider: International Business and Strategy; Henley Business School

Credits: 20

Level: Level 3 (Honours)

When you'll be taught: Semester 2

Module convenor: Professor Peter Scott, email: p.m.scott@henley.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: na

Academic year: 2024/5

Available to visiting students: Yes

Talis reading list: No

Last updated: 28 May 2024

Overview

Module aims and purpose

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.

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”.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

1. Be made aware of time-dependent models that predict outcomes differently from neoclassical economics.
2. Be able to test these models, using firm and industry case-studies and evaluate their importance and generalisability.
3. To critique standard neoclassical models of business using an evolutionary perspective.

Module 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.

Structure

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.

Study hours

At least 25 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students must achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Essay

Reassessment

Additional costs