Meaning and Nature of Strategic Management, its importance and relevance. Characteristics of Strategic Management. The Strategic Management Process. Relationship between a Company’s Strategy and its Business Model.
Strategy Formulation – Developing Strategic Vision and Mission for a Company – Setting Objectives – Strategic Objectives and Financial Objectives – Balanced Scorecard. Company Goals and Company Philosophy. The hierarchy of Strategic Intent – Merging the Strategic Vision, Objectives and Strategy into a Strategic Plan.
Analyzing a Company’s External Environment – The Strategically relevant components of a Company’s External Environment – Industry Analysis – Industry Analysis – Porter’s dominant economic features – Competitive Environment 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 a Company’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 Acquisition Strategies – Outsourcing Strategies –International Business level Strategies.
Business planning in different environments – Entrepreneurial Level Business 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 planning grid and BCG matrix.
Strategy Implementation – Operationalizing strategy, Annual Objectives, Developing Functional Strategies, Developing and communicating concise policies. Institutionalizing the strategy, Strategy, Leadership and Culture
Practical Components:
· Analysing the Mission and Vision statements of a few companies
· Applying Michael Porter’s model to an industry (Retail, Telecom, Infrastructure, FMCG,Insurance, Banking etc
· Pick a successful growing company. Do a web-search of all news related to that company over a one-year period. Analyse the news items to understand and write down the
company’s strategy and execution efficiency.
· Pick a company that has performed very badly compared to its competitors. Collect information on why the company failed. What were the issues in strategy and execution
that were responsible for the company’s failure in the market; Analyse the internal and external factors
· Map out GE 9-cell matrix and BCG matrix for some companies and compare them
· Conduct SWOT analysis of your institution and validate it by