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MGT603 : Strategic Management

Course Overview

Course Synopsis

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.

Course Learning Outcomes

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.

Course Calendar

Nature of Strategic Management1Handouts1-5
Key Terms of Strategic Management2Handouts6-8
Internal Factors and Long Term Goals3Handouts9-12
Benefits of Strategic Management4Handouts13-15
Comprehensive Strategic Model5Handouts16-22
Quiz No. 1
Characteristics of a Mission Statement6Handouts23-27
External Assessment7Handouts28-30
Key External Factors8Handouts31-34
Key External Factors9Handouts35-37
Technological Forces10Handouts38-42
Industry Analysis11Handouts43-46
IFE Matrix12Handouts47-53
Functions of ManagementHandouts54-62
GDB No. 1
Internal Assessment (Finance/Accounting)15Handouts64-70
Analytical Tools16Handouts71-74
The Internal Factor Evaluation (IFE) Matrix17Handouts75-77
Types of Strategies18Handouts78-83
Types of Strategies19Handouts84-88
Types of StrategiesHandouts89-96
Strategy-Formulation Framework23Handouts97
Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix24Handouts98-99
The Strategic Position and Action Evaluation (SPACE)25Handouts100
The Strategic Position and Action Evaluation (SPACE) (Contd…)26Handouts101-102
Boston Consulting Group (BCG) & IE Matrix27Handouts103-104
Boston Consulting Group (BCG) & IE Matrix28Handouts105-106
Grand Strategy Matrix & QSPM29Handouts107-109
Grand Strategy Matrix & QSPM30Handouts110-111
The Nature of Strategy Implementation31Handouts112-115
Resource Allocation32Handouts116-117
Organizational Structure33Handouts118-120
Restructuring & Reengineering34Handouts121-125
Production/Operations Concerns When Implementing Strategies35Handouts126-128
Marketing Issues36Handouts129-131
Marketing Issues (Contd)37Handouts132-134
Finance/Accounting Issues38Handouts135-139
Research and Development Issues39Handouts140-141
Strategy Review, Evaluation and Control40Handouts142-146
Porter’s Supply Chain Model41Handouts147-148
Strategy Evaluation42Handouts149
Reviewing Bases of Strategy43Handouts150
Measuring Organizational Performance44Handouts153
Characteristics of an Effective Evaluation System45Handouts154-157
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