Strategic Management - Department of Higher Education

?

Strategic Management

Subject: STRATEGIC MANAGEMENT

Credit: 4

SYLLABUS

Strategic Planning Strategic Context and Terminology; Definition of Strategy; Difference between policy, Strategy and Tactic; Difference between Long Range Planning and Strategic Planning; Characteristics of Strategic Decisions

Different Approaches to Strategy Introduction to Different Approaches to Strategy; Incremental and Emergent Strategies; Implicit and Explicit Strategies; Approaches to Strategic Management; Strategic Implementation; Strategic Evaluation and Control; Planning Process: Feature, Importance, and Steps; Strategic Planning Process; Strategic Planning in the Next Millennium

Strategy Formulation: Environmental Auditing Environmental Analysis; Environmental complexity; Pestle Analysis; Porter's 5 Force Analysis

Strategy Formulation: Strategic Direction Introduction to Understanding Business; Competitor Analysis; Boston Matrix; International Dimensions of Strategy: Growth, Stability, Profitability, Efficiency, Market Leadership, Survival, Merger, and Acquisition; Core Competence

Strategy Formulation: The Internal Audit Bench Marking; the Use of McKinsey's 7S Framework; SWOT (Strength, Weakness, Opportunities, and Threats) Analysis; Value Chain Analysis; Scope of Activities and Markets

Strategy Implementation Framework of Strategic Implementation: Concept, Factors Causing Unsuccessful Implementation of Strategy. Activation Strategy; Structural Implementation; Functional Implementation; Behavioral Implementation; Resource Mobilization and Allocation: Finance, Human Resources, Materials, and Time

Strategic Evaluation and Control Strategic Evaluation and Control: Concept, Role, and Barriers; Control Process; Techniques of Strategic Evaluation and Control

Suggested Reading: 1. Exploring Corporate Strategy by Johnson & Scholes, Publishing House: Prentice Hall 2. The Strategy Process by Mintburg, Quinn, and Ghosal, Publishing House: Prentice Hall 3. Strategic Management by Ireland, Hoskisson & Hitt, Indian Edition, Cengage Learning 4. Concepts in Strategic Management & Business Policy by Thomas L. Wheelen & J. David Hunger, Pearson

COURSE OVERVIEW

Strategic Management Description of Course

The aim of this course is to develop students' ability to evaluate the strategy process and its implementation in organisations. This will involve an evaluation of the impacts of the external operating environment and the need to adopt organisational strategies to ensure effective business performance.

Summary of outcomes

To achieve this unit a student must:

1 Examine the process of strategic planning

2 Analyse approaches to strategy formulation

3 Examine approaches to strategy implementation. Strategic planning Strategic contexts and terminology: Definition of Strategy, history of strategy, nature of strategy, missions, concept of Strategic Management, Need for Strategic Management, Difference between policy ,strategy and tactic, Difference between Long range planning and strategic planning, Characteristics of Strategic decisions. Strategy Architecture : Levels of Strategies, Characteristics of strategic decisions at 3 levels, role of strategic management. Objective / Mission/Vision : Concept of goals, objective, mission , vision, strategic intent, core competencies. Differing Approaches to strategy: Introduction to different approaches to Strategy, Incremental and emergent strategies, Implicit or explicit Strategies, Overview of Behavioral Approach, Concept of incrementalism and competition. The Planning process: Features of Planning, Importance of Planning, Steps in the planning process. Strategic Planning process, Approaches to planning and formulation of strategy and objectives in small, medium and large organisations.

Strategy formulation Environment auditing: Environment analysis,Political, Economic, Socio-cultural, Technological, Legal andEconomic analysis (PESTLE), Porter's 5 force analysis, the threat of new entrants, the power of the buyer, the threat of substitutes, competitive rivalry, competition and collaboration. Strategic direction: Competitor analysis, Boston matrix , International dimensions of strategy: growth, stability, profitability, efficiency, market leadership, survival, mergers and acquisitions, core competence. The internal audit: Benchmarking, the use of McKinsey's 7S framework, SWOT : strengths, weaknesses, opportunities and threats purpose, Value Chain analysis, scope of activities and markets.

Strategy Implementation Framework for Strategy Implementation: Concept of strategy implementation, Activating strategy, Factors causing unsuccessful implementation of strategy, Structural implementation, Functional implementation, Behavioural implementation. Resource mobilisation and allocation: finance, human resources, materials, time

Strategic Evaluation and Control Strategic Evaluation and Control: Concept of strategic evaluation and control, role of strategic evaluation and control, barriers in strategic evaluation and control.

Strategic Control : Control process ;Techniques of strategic evaluation and control.

i

STRATEGIC MANAGEMENT

STRATEGIC MANAGEMENT

Lesson No. Lesson 1: Lesson 2 Lesson 3 Lesson 4 Lesson 5 Lesson 6 Lesson 7 Lesson 8 Lesson 9 Lesson 10 Lesson 11 Lesson 12 Lesson 13 Lesson 14 Lesson 15 Lesson 16 Lesson 17 Lesson 18 Lesson 19 Lesson 20 Lesson 21 Lesson 22 Lesson 23 Lesson 24 Lesson 25 Lesson 26 Lesson 27 Lesson 28

CONTENT

Topic Introduction to Business Introduction to Strategic Management Difference between Policy, Strategy and Tactic Long Range Planning And Strategic Planning Characteristics Of Strategic Decisions Levels Of Strategy Characteristics of Strategic Decisions at 3 Levels Role Of Strategic Management Concept of Objective, Mission and Vision Comparative Analysis of Objective, Mission and Vision of Various companies Understanding Objective, Mission and Vision Strategic Intent Approaches to Strategy Approaches to Strategy ( Continued ) Planning Process Strategic Planning Process Strategic Planning in the next millennium Environmental Analysis Pestle Analysis Porter`s 5 Force Analysis Understanding Business Competitor Analysis Competitor Analysis Boston Matrix The International Dimensions of Strategy Core Competence Benchmarking Mc Kinsey`s 7S Framework

Page No. 1 5 10 16 17 18 20 24 28 36 40 45 49 54 59 62 64 70 74 81 86 89 94 97 98 102

107 108

v

STRATEGIC MANAGEMENT

STRATEGIC MANAGEMENT

CONTENT

.

Lesson No.

Topic

Lesson 29

Swot Analysis and Value Chain

Lesson 30

Introduction to Strategy Implementation

Lesson 31

Structural Implementation

Lesson 32

Functional Implementation

Lesson 33

Functional Implementation (contd....)

Lesson 34

Behavioural Implementation

Lesson 35

Resource Mobilisation and Allocation

Lesson 36

Concept of Strategic Evaluation and Contro

Lesson 37

Control Process

Lesson 38

Techniques of Strategic Evaluation and Control

Page No. 111 115 120 123 127 133 136

140 145 150

vi

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download