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Indicative Content

An introduction to strategic management: meaning and scope, benefits, concepts and issues – organizational philosophy, organizational policy, strategic planning, strategic plan, competitive strategy, organizational competence – competence, core competence and distinctive competence, business ethics, competitive advantage.

 

Developing vision and mission: meaning of vision and mission, characteristics of an effective vision, necessity of vision, ideal contents of a mission statement, changing a mission statement, integrating vision and mission.

 

Environmental analysis: concepts of organizational environment, influence of environment on business, types of organizational environment, meaning and elements of internal environment, conducting internal analysis, strength and weaknesses, meaning and nature of external environment, the general environment factors, analysis of general environment.

 

Industry analysis: concept of industry, industry environment, elements, importance, analysis of competition, Michael Porter’s Five Forces Model, industry analysis plan.

 

SWOT analysis: SWOT framework, importance, sources of data for SWOT analysis, procedure for analysis

 

Strategy formulation: levels of strategy-making, generic strategies, cost leadership strategy, differentiation strategy, focus strategy, best-cost provider, concentration strategy, growth strategy, stable-growth strategy, offensive strategy, defensive strategy, first-mover strategy, late-mover strategy

 

Diversification and corporate-level strategy: meaning and scope, concept of diversification, levels of diversification, diversified company, diversification strategies.

 

Strategy implementation: meaning, strategy implementation tasks, creating strategy-supportive policies and procedures, installing support systems.

 

Strategic evaluation and control: meaning and nature, requirements, strategy-evaluation framework, importance, types of strategy control, balanced scoreboard, monitoring and evaluation.

 

Grade Determination:

The student will be graded on satisfactory completion of in-class assignments, homework, quizzes/case study, presentation and exams.

Strategic Management

This course designed to introduce the basic concepts, issues, and skills of strategic management as well as the challenges facing the practicing executives in formulating and implementing competitive strategies. It not only aims at providing students with an introduction to competitive strategies in organizations, it also encourages students to put these concepts and skills into practice. Through the course, students are expected to improve their skills to manage their study and organizational lives. In addition, they will be equipped with strategic management competence and understanding of managerial strategies for their future career.

 

COURSE OBJECTIVES

This course presents a thorough and systematic coverage of universally-accepted strategic management process. It focuses on the development of vision and mission, and cascading through, environmental analysis, both external and internal, setting strategic objectives, formulation of business-level and corporate-level strategies, and implementation of strategies. Special attention is given to strategic evaluation and control of strategies.

Upon completion of the course, students are expected to be able to:

 

  1. understand fundamental concepts, issues, and skills of strategic management;

  2. be knowledgeable of historical development, theoretical aspects and practice application of managerial process;

  3. be familiar with interactions between the environment, technology, human resources, and organizations in order to achieve high performance;

  4. developing vision and mission.

  5. demonstrate critical thinking when presented with managerial problems

 

The material covered will be relevant to you, regardless of your career objectives. In all likelihood, you will either be a manager or work with one in any occupation you choose. In the final analysis, we are all managers of our own lives and can benefit by studying to be better managers.

 

Recommended Text Book: Mannan, M. A. (2013) Strategic Management, University Grants Commission.

 

Supplementary Reading List (Optional where appropriate)

  1. Thompson, A., Strickland, A. J., Thompson, J. (2003) Strategic Management, 15th Edition, McGraw-Hill.

  2. Pearce, A. J. (2009) Strategic Management, 10th Edition, McGraw-Hill.

 

FORM OF EVALUATION

Class Assignments and Homework:

The cases, problems, and exercises assigned are to be done completely, neatly and on time according to the more complete instructions given in class at the time of the assignments. The class work and assignments must be kept in a notebook which may be checked periodically. The notebook will serve as a cross check against instructor records.

 

Term Project Presentation

The term project, on an approved management topic, will be due when indicated.

 

Examinations

The examinations may consist of multiple choice, true/false, and essay questions which measure the ability to know and apply principles of good management. Other types of questions may be included. The questions will cover the lectures, class discussions, activities, exercises, and textbooks. The mid-term and final may include multiple choice questions on the test as well as application exercises.

 

STUDENT PREPARATION

Students are expected to have all lessons, papers, presentations, etc., prepared on the dates (to be announced), to come class with the required materials, to take notes, and to read the assignments by the dates due. Assignments turned in late will receive one-half grade lower than they would earn if on time.

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