Syllabus
Unit 1
Strategic management- Meaning, definition – scope – importance – benefits – stages in Strategic management -guidelines for effective strategic management – Strategic Planning and its need – strategic planning process- strategic management V/S strategic planning – Pitfalls in strategic planning- Vision vs. Mission – statements – importance – characteristics – components – writing and evaluating good vision and mission statements- – Importance of ethics in the overall process of strategic management.
Unit 2
Key internal forces – process of internal strategic management audit – basic functional areas of business – Key external forces – sources of external information – Porter’s five forces model of competition – Cooperative vs. Competitive Strategies – examples and exercises.
Unit 3
Five important generic strategies. Strategies of – first mover, early starters, market followers. Diversification strategies – related and unrelated, core competencies, outsourcing, horizontal and vertical integration, Merger and acquisition, strategic alliance, strategic business units. Case studies.
Unit 4
Strategy formulation, three stage strategy formulation framework, corporate strategy, business strategy, functional level strategy, SWOT Matrix, SPACE Matrix, BCG Matrix, value chain analysis.
Unit 5
Strategy formulation vs. Strategy Implementation, Matching Structure with Strategy, creating strategy supportive culture, challenges in strategy implementation. Emerging issues in strategic management – Digital Transformation of business.
Objectives and Outcomes
Course Objective:
To appreciate the complexities of managing a formal organization; to help develop analytical skills for
identifying key strategic issues and formulating appropriate strategies given a firm’s situation. Course Outcomes:
The student will be able:
C01: To understand strategic management concepts and processes to improve organizational performance.
C02: To describe on external organization & its environment. C03: To describe on internal organization & its capabilities C04: To define and formulate strategies.
C05: To compare strategy formulation and strategy implementation.
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