Strategic Issues in Financial Services

Module Title	Strategic Issues in Financial Services
Module Code	25-6055-00L
Semester of Delivery	See Module Information Table
Mandatory/Elective/Option	See Module Information Table
Level	6
Credit Points	20
Assessment Mode Weighting	CW100
Pre-requisites	Financial Institutions and Markets (Level 5) or placement in Financial Services Sector
Co-requisites	Strategic Management
Class Contact Hours
Average Weekly	1.5
Directed Learning
Average Weekly	5
Module Leader	Ian Sharpe
	Sheffield Business School
Module Banding	A
Approval Status	Validated

Rationale

This module will provide students with an understanding of the major strategic issues facing the financial services sector. As such, it will examine strategic issues facing individual groups of financial institutions and those issues facing particular financial markets. Although the emphasis will be primarily on the UK financial services sector, the international focus and activities of the majority of participants in the sector, and the international nature of many of the services provided, will ensure that the module is not limited to just the UK financial services sector.

By looking at strategic issues facing the financial services sector, the module will complement the skills and theoretical base gained in the co-requisite module., and upon the placement experience of those students that have completed a placement within a financial services organisation. The module will enable students to acquire an appreciation of the major strategic issues facing the contemporary financial services sector, the forces giving rise to these issues and the possible responses open to the institutions involved.

Summary of Aims

1. To provide students with an understanding and awareness of the major contemporary strategic issues facing the financial services sector.
2. To provide students with an appreciation of the impact (both actual and possible) of a range of strategic issues upon organisations operating within the financial services sector and upon the structure and operations of financial markets.
3. To enable students to identify and subsequently evaluate alternative strategic options facing financial services sector organisations consequent upon the strategic issues facing them.
4. To provide students with an understanding of the range of forces that could give rise to strategic issues within the financial services sector. Depending on the nature of the major strategic issues at the time, this could involve the impact of financial regulation or deregulation, of evolving competition (both national and international), of developing technology, of EU directives, of changing consumer tastes, etc.

Anticipated Learning Outcomes

On completion of the module, students should be able to:

1. Analyse the sources, and form, of the major contemporary strategic issues facing organisations within the financial services sector.
2. Analyse and evaluate the possible responses by organisations operating within the financial services sector to the strategic issues identified.
3. Analyse and evaluate the strategies being followed by organisations operating within the financial services sector in response to strategic issues.
4. Through the analysis of trends and developments across a broad range, identify and evaluate the importance of what may become strategic issues facing organisations operating within the financial services sector.

Assessment and Feedback Strategy

Assessment will be by means of coursework, which will vary in format according to the particular strategic issues that are facing the financial services sector at the time the module is being delivered. One possible format would consist of two written assignments and a group presentation, and formative feedback would be given at each stage.

Module Assessment Criteria

Learning Outcome	Assessment Criterion	Level descriptors
		Fail	Pass	2.2	2.1	First
Outcome 1	Assignment	Inadequate and/or confused analysis of the sources and form of strategic issues. Very limited sources of information utilised.	Limited and mainly descriptive analysis of the sources and form of strategic issues. Adequate sources of information utilised.	Some accurate analysis of the sources and form of strategic issues. A wider range of sources of information utilised.	Thorough and accurate analysis of the sources and form of strategic issues. A wide range of sources of information utilised.	Extensive and rigorous analysis of the sources and form of strategic issues. An extensive range of sources of information utilised.
Outcome 2	Assignment	Inadequate and/or confused analysis and evaluation of possible responses. Very limited sources of information utilised.	Limited and mainly descriptive analysis and evaluation of possible responses. Adequate sources of information utilised.	Some accurate analysis and evaluation of possible responses. A wider range of sources of information utilised.	Thorough and accurate analysis and evaluation of possible responses. A wide range of sources of information utilised.	Extensive and rigorous analysis and evaluation of possible responses. An extensive range of sources of information utilised.
Outcome 3	Assignment	Inadequate and/or confused analysis and evaluation of strategies being followed. Very limited sources of information utilised.	Limited and mainly descriptive analysis and evaluation of strategies being followed. Adequate sources of information utilised.	Some accurate analysis and evaluation of strategies being followed. A wider range of sources of information utilised.	Thorough and accurate analysis and evaluation of strategies being followed. A wide range of sources of information utilised.	Extensive and rigorous analysis and evaluation of strategies being followed. An extensive range of sources of information utilised.
Outcome 4	Assignment	Inadequate and/or confused analysis of trends and developments. Unclear and inadequate identification and evaluation of what may become strategic issues. Very limited sources of information utilised.	Limited and mainly descriptive analysis of trends and developments. Limited identification and evaluation of what may become strategic issues. Adequate sources of information utilised.	Some accurate analysis of trends and developments. Some identification and evaluation of what may become strategic issues. A wider range of sources of information utilised.	Thorough and accurate analysis of trends and developments. Well reasoned and clear identification and evaluation of what may become strategic issues. A wide range of sources of information utilised.	Extensive and rigorous analysis of trends and developments. Insightful and informed identification and evaluation of what may become strategic issues. An extensive range of sources of information utilised.

Teaching and Learning Strategy and Methods

Handouts and lectures will introduce a range of key issues facing a variety of organisations operating within the financial services sector, and to provide a framework for independent research, reading and study. Seminars will utilise a variety of formats, but will emphasise the discussion of the impact of, and possible responses to, strategic issues. Such seminars will build upon the prior research and reading undertaken by students, and may involve group discussion or students giving presentations on, for example, a firm's optimal response to a particular strategic issue. Loosely-organised case studies will be employed to emphasise the practical aspects of the issues being discussed.

Indicative Content

The particular strategic issues examined within this module will naturally depend upon the issues, trends and developments taking place within the financial services sector at the time that the module is delivered. As a consequence, the format and content of the module is likely to change considerably from one delivery to the next. Areas which might be included within the module comprise the following:

• The evolving nature of competition within the different elements of the financial services sector and the reasons for that evolution.
• The impact of changing IT, economic policy, regulation, demographics and ethics upon individual financial markets and groups of financial institutions.
• How financial services organisations are responding to strategic issues through the use of IT, branding, outsourcing, mergers, acquisitions and alliances.

Indicative Reading

Given that this module is concerned with what are currently strategic issues within a fast-changing sector of the economy, there is no one textbook that comes close to covering a significant element of the content of the module. Accordingly, there is no textbook - or textbooks - that are recommended for purchase.

This is emphatically not to say that reading is unimportant to this module!

As indicated earlier, the module seeks to complement understanding gained in the Strategic Management module, and therefore use will be made of texts and articles from that subject area. Students will find that a range of other texts and articles from the corporate strategy/change management subject areas will also be of use within this module.

Given the nature of this module, it is plainly important that students keep themselves up-to-date with developments and issues arising within the financial services sector. For that purpose, it is essential that students read quality (i.e. non-tabloid) newspapers, with the Financial Times and The Economist particularly recommended. Other publications such as Financial World (formally Chartered Banker), Money Management, The Banker, etc. will also be useful.