Course Overview
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Course Synopsis
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The knowledge of Strategic Management is inevitable for the present day manager. This course will enable the students to understand the underlying concepts and processes involved in the strategic management practices. It will provide a basic idea about what strategists do in organizations and how do they do it? Students will be able to better comprehend some of the basic concepts of strategic management highlighted in this course.
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Course Learning Outcomes
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At the end of this course, you will be able to:
- Assimilate the core and specialist subjects into an integral whole.
- Effectively use the strategic models, evaluate and synthesize the dynamics of strategic decision making including current strategic thinking and philosophy.
- Develop suitable missions, set key objectives, propose and evaluate alternative strategies.
- Apply the strategic process to a range of organizations and industries including situations of growth, decline, turnaround and consolidation in a national and international context.
- Design the policies for implementation through key functional areas.
- Identify and synthesize change factors including the cultural and leadership aspects of strategy.
- Discuss the nature of strategic control within the integration process throughout the organization.
- Evaluate the issues and nature of corporate governance and the relationship of the organization with its stakeholders.
- Develop coherent and persuasive arguments for the adoption of innovative strategies for a range of business and organizational situations including the development and evaluation of strategic leadership and business team dynamics.
- Describe the strategic management process.
- Explain the need for integrating analysis and intuition in strategic management.
- Define and give examples of key terms in strategic management.
- Discuss the nature of strategy formulation, implementation, and evaluation activities.
- Describe the benefits of good strategic management.
- Discuss how a firm may achieve sustained competitive advantage.
- Importance of strategic management in 21st century.
- Discuss why the process of developing a mission statement is as important as the resulting document.
- Describe how to conduct an external strategic-management audit.
- Discuss 10 major external forces that affect organizations: economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive.
- Explain how to develop an EFE Matrix.
- Develop an Internal Factor Evaluation (IFE) Matrix.
- Explain how to develop a SWOT Matrix, SPACE Matrix, BCG Matrix, IE Matrix, and QSPM.
- Explain how to develop a Competitive Profile Matrix.
- Describe how to perform an internal strategic-management audit.
- Identify the basic functions or activities that make up management, marketing, finance/accounting, production/ operations, research and development, and management information systems.
- Explain the importance of financial ratio analysis.
- Discuss the value of establishing long-term objectives.
- Identify numerous examples of organizations pursuing different types of strategies.
- Discuss Porter’s five generic strategies.
- Explain market segmentation and product positioning as strategy-implementation tools.
- Discuss the nature and role of research and development in strategy implementation.
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Course Calendar
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1
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Nature of Strategic Management
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2
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Key Terms of Strategic Management
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3
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Internal Factors and Long Term Goals
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4
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Benefits of Strategic Management
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5
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Comprehensive Strategic Model
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6
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Characteristics of a Mission Statement
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9
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External Assessment (Key external factors)
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Assignment
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13
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Functions of Management
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Quiz 01
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14
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Functions of Management.
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15
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Internal Assessment (Finance/Accounting)
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Quiz 02
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17
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The Internal Factor Evaluation (IFE) Matrix
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GDB
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23
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Strategy-Formulation Framework
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24
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Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix
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Mid Term Examination
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25
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The Strategic Position and Action Evaluation (SPACE) Matrix
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26
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The Strategic Position and Action Evaluation (SPACE) Matrix (Contd)
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27
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Boston Consulting Group (BCG) & IE Matrix
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28
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Boston Consulting Group (BCG) & IE Matrix (Contd)
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29
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Grand Strategy Matrix & QSPM
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30
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Grand Strategy Matrix & QSPM.
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31
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The Nature of Strategy Implementation
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Quiz 03
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33
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Organizational Structure
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34
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Restructuring & Reengineering
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35
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Production/Operations Concerns When Implementing Strategies
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36
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Marketing Issues (Market Segmentation)
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37
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Marketing Issues (Marketing Mix) (Cont)
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38
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Finance/Accounting Issues
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39
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Research and Development Issues
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40
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Strategy Review, Evaluation and Control
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41
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Porter’s Supply Chain Model
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43
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Reviewing Bases of Strategy
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44
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Measuring Organizational Performance
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45
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Characteristics of an Effective Evaluation System
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Final Term Examination
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