Meaning and Nature of Strategic Management, its importance and relevance.Characteristics of Strategic Management. The Strategic ManagementProcess. Relationship between a Company’s Strategy and its Business Model.
Strategy Formulation – Developing Strategic Vision and Mission for aCompany – Setting Objectives – Strategic Objectives and FinancialObjectives – Balanced Scorecard. Company Goals and CompanyPhilosophy. The hierarchy of Strategic Intent – Merging the StrategicVision, Objectives and Strategy into a Strategic Plan.
Analyzing a Company’s External Environment – The Strategically relevantcomponents of a Company’s External Environment – Industry Analysis –Industry Analysis – Porter’s dominant economic features – CompetitiveEnvironment Analysis – Porter’s Five Forces model – Industry diving forces– Key Success Factors – concept and implementation.
Analyzing a company’s resources and competitive position – Analysis of aCompany’s present strategies – SWOT analysis – Value Chain Analysis –Benchmarking
Generic Competitive Strategies – Low cost provider Strategy –Differentiation Strategy – Best cost provider Strategy – Focused Strategy –Strategic Alliances and Collaborative Partnerships – Mergers and AcquisitionStrategies – Outsourcing Strategies –International Business level Strategies.
Business Planning in different environments – Entrepreneurial LevelBusiness planning – Multi stage wealth creation model for entrepreneurs–Planning for large and diversified companies – brief overview of Innovation,integration, Diversification, Turnaround Strategies - GE nine cell planninggrid and BCG matrix.
Strategy Implementation – Operationalizing strategy, Annual Objectives,Developing Functional Strategies, Developing and communicating concisepolicies. Institutionalizing the strategy. Strategy, Leadership and Culture.Ethical Process and Corporate Social Responsibility.
Strategic Control, guiding and evaluating strategies. Establishing StrategicControls. Operational Control Systems. Monitoring performance andevaluating deviations, challenges of Strategy Implementation. Role ofCorporate Governance