Its importance and relevance, Characteristics of StrategicManagement, The Strategic Management Process –Relationship between a Company’s Strategy and its BusinessModel.
Developing Strategic vision and Mission for a company – Setting Objectives –Strategic Objectives and Financial Objectives – Balanced score card, Company Goals and Company Philosophy.The hierarchy of Strategic Intent – Merging the Strategic Vision Objectives and Strategy into a Strategic Plan.
The Strategically relevant components of a company’sexternal environment – Industry Analysis- Porter’s dominant economic features – Competitive EnvironmentAnalysis – Porter’s five force model - Industry driving forces – key success factors- concept andimplementation.
Analysis of the company’s present strategies –SWOT Analysis – Value chain Analysis – Bench marking.
Low cost, Differentiation, Best cost , Focused Strategies .Strategic alliances,Collaborative partnerships , Mergers and acquisition, Joint Ventures Strategies – Outsourcing Strategies-International Business level strategies.
Tailoring Strategy to fit specific Industry and companysituation – long term objectives for Grand Strategies- Innovation, Integration and diversification –Conglomerate Diversification, Retrenchment, Restructuring and turnaround – GE nine cell planning grid and BCG Matrix.
Operationalizing strategy, Annual Objectives, Developing Functional strategies,Developing and communicating concise policies.Institutionalizing the strategy, Structure, Leadership and Culture. Ethical Process and corporate social responsibility.
Strategic control guiding and evaluating strategies, Establishing Strategic controls, Operational ControlSystems, Monitoring performance and evaluating deviations, challenges of strategy Implementation.