Strategic Management 2600-ERSM1SM

This course is designed as a capstone experience, meaning it ties together everything you have learned in other business disciplines (like marketing, finance, operations, and human resources) and applies them to the "big picture" of an organization. It moves beyond day-to-day operations to focus on the long-term direction and success of a company. The description emphasizes that this is not just a theoretical course. It aims to change how you think. The goal is to develop "Strategic Thinkers", individuals who can see the forest and the trees, anticipate future challenges, and make informed decisions that benefit the entire organization.
Topics covered.
1.
Strategic Management Process, Key terms in strategic management, Nature of strategy formulation, implementation, and evaluation activities. The Agile Strategic-Management Model: Present the classic model (Formulation, Implementation, Evaluation).
2.
Strategy Formulation: Nature and role of vision and mission statements in strategic management. Process of developing a mission statement. Components of mission statements. Evaluate mission statements. The modern "Strategic Direction", a triad of Vision, Mission, and Values (VMV).
3.
Strategic Analysis in a Dynamic World. The Purpose and Nature of an External Audit, Key External Forces, The Process of Performing an External Audit, External Forces That Affect Organizations: Economic Forces, Social, Cultural, Demographic, and Natural Environment Forces, Political, Governmental, and Legal Forces, Technological Forces, Competitive Forces.
4.
Industry analysis. Porter’s Five-Forces Model. Sources of External Information, Forecasting Tools and Techniques, The Competitive Profile Matrix, Scenario Planning, Trend analysis, The External Factor Evaluation Matrix, How to conduct an external strategic-management audit.
5.
The Internal Audit & Resource-Based View (RBV), The Nature of an Internal Audit, Integrating Strategy and Culture, Microenvironment analysis, Internal Factor Evaluation (IFE) Matrix, The Grand Strategy Matrix, Practical Case study.
6.
Boston Consulting Group (BCG) Matrix. Functional areas like Finance/Accounting, Marketing, R&D, and Management Information Systems (MIS), Practical Case study.
7.
Implementing Strategies: Management and Operations Issues, Importance of annual objectives and policies. Marketing, Finance/Accounting, R&D, and MIS Issues, Market segmentation and product positioning as strategy-implementation tools.
8.
Implementing Strategies: Management and Operations Issues, Importance of annual objectives and policies. Marketing, Finance/Accounting, R&D, and MIS Issues, Market segmentation and product positioning as strategy-implementation tools.
9.
Strategy Evaluation: Strategy Review, Evaluation, and Control, The Strategy-Evaluation Process, Criteria, and Methods. The Three Strategy-Evaluation Activities, The Balanced Scorecard, Twenty-first-century challenges in strategic management. Practical Case study.
10.
Business Ethics, Social Responsibility, and Environmental Sustainability. Artificial intelligence and the changing sources of competitive advantage. Final evaluation.