Meaning and Nature of Strategic Management, its importance and relevance. Characteristics ofStrategic Management. The Strategic Management Process. Relationship between a Company’sStrategy and its Business Model.
Strategy Formulation – Developing Strategic Vision and Mission for a Company – SettingObjectives – Strategic Objectives and Financial Objectives – Balanced Scorecard. CompanyGoals and Company Philosophy. The hierarchy of Strategic Intent – Merging the StrategicVision, Objectives and Strategy into a Strategic Plan.
Analyzing a Company’s External Environment – The Strategically relevant components of aCompany’s External Environment – Industry Analysis – Industry Analysis – Porter’s dominanteconomic features – Competitive Environment Analysis – Porter’s Five Forces model – Industrydiving forces – Key Success Factors – concept and implementation.
Analyzing a company’s resources and competitive position – Analysis of a Company’s presentstrategies – SWOT analysis – Value Chain Analysis – BenchmarkingGeneric Competitive Strategies – Low cost provider Strategy – Differentiation Strategy – Bestcost provider Strategy – Focused Strategy – Strategic Alliances and Collaborative Partnerships –Mergers and Acquisition Strategies – Outsourcing Strategies –International Business levelStrategies.
Business Planning in different environments – Entrepreneurial Level Business planning – Multistage wealth creation model for entrepreneurs– Planning for large and diversified companies –brief overview of Innovation, integration, Diversification, Turnaround Strategies - GE nine cellplanning grid and BCG matrix.
Strategy Implementation – Operationalizing strategy, Annual Objectives, Developing FunctionalStrategies, Developing and communicating concise policies. Institutionalizing the strategy.Strategy, Leadership and Culture. Ethical Process and Corporate Social Responsibility.
Strategic Control, guiding and evaluating strategies. Establishing Strategic Controls. OperationalControl Systems. Monitoring performance and evaluating deviations, challenges of StrategyImplementation. Role of Corporate Governance