Course description
This course integrates the core functional disciplines of business within a strategic perception. The course introduces several strategic management concepts including industry analysis and dynamics, the organizational resource audit, strategic topologies the role of general manager and the management of strategic transformations. The principal objective is to develop and enhance student ability in problem identification, environmental and organizational and action implementation. While Policy focuses more on the purpose, mission, vision, or values, of the organization, Strategy deals more with developing top management’s game plan for enabling the organization to adapt and exploit changes in its environment. Since the problems, issues, and decisions facing senior general management are complex, messy, and quite unstructured, the overall purpose of this course is to provide conceptual and analytical tools to enable you to think strategically about how to effect positive change within the organization and in the society. The course is integrative, and builds on students’ understanding of the functional areas of the firm including operations, finance, marketing, human resource management and organizational design. Through readings, case analysis, real world company strategy analysis, simulation and discussion, students will learn the processes, tactics and schemes for specific action that firms use to achieve their intended business objectives.
Course outcomes
Upon the completion of this course, students will be able to:
• Integrate understanding of business and the strategic management processes
• Develop advanced analytical skills through the use of complex and comprehensive cases and able to identify central issues/problems in these cases and present well-supported recommendations for future actions
• Develop advanced understanding of strategic management concepts, research and theories
• Understand the present and future environments within which organizations function
• Improve the secondary research skills required in gathering and interpreting key environmental data
Course contents
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🔽 0 h 36 min | The Nature of Strategic Management
- Defining strategic management
- Stages of strategic management
- Key terms in strategic management
- The strategic management model
- Benefits of strategic management
- Business ethics and strategic management
🔽 0 h 29 min | Strategies in Action
- Steps of strategic action
- Types of strategies
- Michael Porter’s generic strategies
🔽 0 h 37 min | The Business Vision and Mission
- Strategic formulation
- The nature and role of vision and mission statements in strategic management
- Characteristics of effective business mission
- The components of mission statements
- Mission statements of different organizations
- Long objective, differentiate long objective and goal
🔽 0 h 40 min | External Environment
- Elements of micro and macro environment
- The way to scan environment
- Nature of globalization
- Forecasting tools and techniques
- The competitive environmental analysis
- Conduct external strategic management audit
- Ten major external forces that affect organizations
- Key sources of external information
🔽 0 h 40 min | The Internal Assessment
- Perform an internal strategic-management audit
- Resource-Based View (RBV) in strategic management
- Interrelationships among the functional areas of business
- Basic functions/activities that make up management, marketing, finance, production, research and development and management information systems
🔽 0 h 35 min | Strategy Analysis and Choice
- Three-stage framework for choosing among alternative strategies
- Develop a SWOT Matrix, SPACE Matrix, BCG Matrix, IE Matrix and QSPM
- Responsibility considerations (behavioral, political, ethical and social) in strategy analysis and choice
🔽 0 h 36 min | Strategy Implementation
- Strategy implementation versus strategy formulation
- Organizational structure in strategy implementation
- The role of leadership in the implementation of strategy
- General framework for strategy implementation
- Build a supportive corporate culture
🔽 0 h 51 min | Strategic Evaluation and Control
- The nature of strategy evaluation
- Strategy evaluation framework
- The characteristics of an effective evaluation system
- Strategic control process
This course includes:
5 h 04 min recorded video
Downloadable resources (books and articles)
One year access
Access on mobile and TV
Advanced Level
Certificate of completion