• To develop an in-depth comprehension of strategic planning concepts and processes • To develop the student’s ability to analyse, interpret, evaluate, synthesize and communicate business knowledge. • To provide the student with a comprehensive understanding of the role played by strategic planning in shaping sustainable competitive advantage. • To develop the student’s critical thinking ability, critical self-reflection and synthesizing skills in order to produce a comprehensive strategic plan. • To have a comprehensive knowledge of the different phases and planning methodologies used in strategy formulation.
Overview of Strategic Management
Defining strategic management; key terms in strategic management;stages of the strategic management process; integrating intuition and analysis; benefits of strategic management; pitfalls of strategic management
Strategy Formulation
Business Vision and Mission - writing and evaluating mission statements; importance of vision and mission; cascading vision and mission through the organisation.External Assessment - external audits; macro environmental forces; competitive forces; competitive analysis and tools.Internal Environment - internal audits; resources, capabilities, sustainable competitive advantage.Strategies in Action - Long term objectives; types of strategies; means for achieving strategies.Strategy Analysis and Choice - the process of generating and selecting strategies; strategy formulation framework.
Strategy Implementation
Annual objectives; policies; matching structure and strategy; linking performance to pay; resistance; creating a strategy supportive culture
Strategy Evaluation
Reviewing bases of strategy; measuring performance; taking corrective action.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 50 |
| Other Assessment(s) | 50 |