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Strategic Management Professional Enquire Now

Course Summary

  • In today’s competitive world and dynamically evolving markets,  business goals are not easy to achieve without adopting a right strategic planning and tactical execution. Goal setting based on a clear strategic vision and strategic assessment achieve positive outcomes than those lacking a clear strategy. At LearnersPoint we have taken a pragmatic approach to conceptualise this course enabling students to learn “how to do strategic planning,” rather than simply focus on inspiring theories in strategy.

Course Contents

  • Module 1: The Nature of Strategic Management

    • Describe the strategic-management process.
    • Discuss the three stages of strategy formulation, implementation, and evaluation activities.
    • Explain the need for integrating analysis and  intuition in strategic management.
    • Define and give examples of key terms in strategic management.
    • Illustrate the comprehensive strategic-management model.
    • Describe the benefits of engaging in strategic management.
    • Explain why some firms do no strategic planning.
    • Describe the pitfalls in actually doing strategic planning.
    • Discuss the connection between business and military strategy.

    Module 2: The Business Vision and Mission

    • Describe the nature and role of vision statements in strategic management.
    • Describe the nature and role of mission statements in strategic management.
    • Discuss the process of developing a vision and mission statement.
    • Discuss how clear vision and mission statements can benefit other strategic-management activities.
    • Describe the characteristics of a good mission statement.
    • Identify the components of mission statements.
    • Evaluate mission statements of different organizations and write effective vision and mission statements

    Module 3: The External  Assessment     

    • Describe the nature and purpose of an external assessment in formulating strategies.
    • Identify and discuss 10 external forces that must be examined in formulating strategies: economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive.
    • Explain Porter’s Five Forces Model and its relevance in formulating strategies.
    • Describe key sources of information used for locating vital external information.
    • Discuss forecasting tools and techniques.
    • Explain how to develop and use an External Factor Evaluation (EFE) Matrix.
    • Explain how to develop and use a Competitive Profile Matrix.

    Module 4: The Internal Assessment        

    •  Describe the nature and role of an internal assessment in formulating strategies.
    • Discuss why organizational culture is so important in formulating strategies.
    • Identify the basic functions (activities) that make up management and their relevance in formulating strategies.
    • Identify the basic functions of marketing and their relevance in formulating strategies.
    • Discuss the nature and role of finance and accounting in formulating strategies.
    • Discuss the nature and role of production/operations in formulating strategies.
    • Discuss the nature and role of research and development (R&D) in formulating strategies.
    • Discuss the nature and role of management information systems (MIS) in formulating strategies.
    • Explain value chain analysis and its relevance in formulating strategies.
    • Develop and use an Internal Factor Evaluation (IFE) Matrix.

    Module 5: Strategies in Action

    • Identify and discuss eight characteristics of objectives and ten benefits of having clear objectives.
    • Define and give an example of eleven types of strategies.
    • Identify and discuss the three types of “Integration Strategies.”
    • Give specific guidelines when market penetration, market development, and product development are especially effective strategies.
    • Explain when diversification is an effective business strategy.
    • List guidelines for when retrenchment, divestiture, and liquidation are especially effective strategies.
    • Identify and discuss Porter’s five generic strategies.
    • Compare (a) cooperation among competitors, (b) joint venture and partnering, and (c) merger/acquisition as key means for achieving strategies.
    • Discuss tactics to facilitate strategies, such as (a) being a first mover, (b) outsourcing, and (c) reshoring.
    • Explain how strategic planning differs in for-profit, not-for-profit, and small firms.

    Module 6: Strategy Analysis and Choice

    • Describe the strategy analysis and choice process.
    • Diagram and explain the three-stage strategy-formulation analytical framework.
    • Diagram and explain the Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix.
    • Diagram and explain the Strategic Position and Action Evaluation (SPACE) Matrix.
    • Diagram and explain the Boston Consulting Group (BCG) Matrix.
    • Diagram and explain the Internal-External (IE) Matrix.
    • Diagram and explain the Grand Matrix.
    • Diagram and explain the Quantitative Strategic Planning Matrix (QSPM).
    • Discuss the role of organizational culture in strategic analysis and choice.
    • Identify and discuss important political considerations in strategy analysis and choice.
    • Discuss the role of a board of directors (governance) in strategic planning.

    Module 7: Implementing Strategies: Management, Operations, and Human Resource Issues

    • Describe the transition from formulating to implementing strategies.
    • Discuss five reasons why annual objectives are essential for effective strategy implementation.
    • Identify and discuss six reasons why policies are essential for effective strategy implementation.
    • Explain the role of resource allocation and managing conflict in strategy implementation.
    • Discuss the need to match a firm’s structure with its strategy.
    • Identify, diagram, and discuss seven different types of organizational structure.
    • Identify and discuss fifteen dos and don’ts in constructing organizational charts.
    • Discuss four strategic production/operations issues vital for successful strategy implementation.
    • Discuss seven strategic human resource issues vital for successful strategy implementation.

    Module 8: Implementing Strategies: Marketing, Finance / Accounting, R&D, and MIS Issues

    • Identify and describe strategic marketing issues vital for strategy implementation.
    • Explain why social media marketing is an important strategy-implementation tool.
    • Explain why market segmentation is an important strategy-implementation tool.
    • Explain how to use product positioning (perceptual mapping) as a strategy-implementation tool.
    • Identify and describe strategic finance/accounting issues vital for strategy implementation.
    • Perform EPS/EBIT analysis to evaluate the attractiveness of debt versus stock as a source of capital to implement strategies.
    • Develop projected financial statements to reveal the impact of strategy recommendations.
    • Determine the cash value of any business using four corporate evaluation methods.
    • Discuss IPOs, keeping cash offshore, and issuing corporate bonds as strategic decisions that face many firms.
    • Discuss the nature and role of research and development (R&D) in strategy implementation.
    • Explain how management information systems (MISs) impact strategy-implementation efforts.

     

    Module 9: Strategy Review, Evaluation, and Control

    • Discuss the strategy-evaluation process, criteria, and methods used.
    • Discuss three activities that comprise strategy evaluation.
    • Describe and develop a Balanced Scorecard.
    • Identify and describe published sources of strategy-evaluation information.
    • Identify and describe six characteristics of an effective strategy-evaluation system.
    • Discuss the nature and role of contingency planning in strategy evaluation.
    • Explain the role of auditing in strategy evaluation.
    • Identify and discuss three twenty-first-century challenges in strategic management.
    • Identify and describe 17 guidelines for effective strategic management.

     

    Module 10: Business Ethics, Social Responsibility, and Environmental Sustainability

    • Explain why good ethics is good business in strategic management.
    • Explain why whistle-blowing, bribery, and workplace romance are strategic issues.
    • Discuss why social responsibility and policy are key issues in strategic planning.
    • Discuss the nature of environmental sustainability and why it is a key issue in strategic planning.
    • Explain why animal welfare is a strategic issue for firms.


    Module 11: Global and International Issues

    • Discuss the nature of doing business globally, including language and labor union issues.
    • Explain the advantages and disadvantages of doing business globally.
    • Discuss the global challenge facing firms and why this is a strategic issue.
    • Discuss tax rates and tax inversions as strategic issues.
    • Compare and contrast American business culture versus foreign business cultures; explain why this is a strategic issue.
    • Discuss the business culture found in Mexico, Japan, China, and India; explain why this is a strategic issue.
    • Discuss the business climate in Africa, China, Indonesia, India, Japan, Mexico, and Vietnam; explain why this is a strategic issue.

     

    Course Objectives

    • To introduce students of business to the complexities of multifunctional organizational problems in the context of strategic management.
    • To acquaint students with the idiosyncrasies and demands placed on top management in terms of strategic decisions, as opposed to functional management.
    • To actively involve students in the exploration of current ideas, issues, problems and techniques associated with top management duties and apply a focus on the total organization from a global perspective.
    • To familiarize students with the current literature, concepts, and theories of Strategic Management.
    • To improve and sharpen report writing and oral presentation skills.

     

    Course Outcomes

    At the end of the course, students will have studied, through a variety of pedagogical models, the major topic areas of strategic management. They will be aware of the challenges and opportunities for an organization, and will be confident as managers to apply strategic management principles within an organization.

     

    Target Audience

    This program is aimed at managers in organizations who are currently in roles that require them to handle strategic issues or managers who are looking to move into such roles. Senior and middle-level managers and profit Centre heads would find the program particularly useful. Working professionals wishing to participate in the program need to have a minimum experience of 5- 7 years. Managers with longer and broader experience would benefit more from the program.

     

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