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Strategic Management

The Concept and Context of Strategic Management

Module 1

The Nature and Scope of Strategic Management

  • Preview
  • The need for strategic management
  • Early uses of strategy
  • Administrative theories: Max Weber
  • Human relationships in management: Henri Fayol
  • Human relationship movement: Maslow
  • Structural views of strategy: Porter's contributions
  • Resource-based view of the firm
  • Henry Mintzberg
  • Towards a definition of strategy
  • Strategic management: what it is
  • What does strategic management do?
  • Strategic management: what it requires
  • Application of strategic management
  • Myths and criticisms of strategic management

Module 2

The Process of Strategic Management

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  • The value of frameworks in strategic management
  • The process of strategic management
  • Why organisations lose competitive capability
  • Approaches to the practice of strategic management
  • The strategic management process: technical/sociocultural perspectives
  • Language of strategic management
  • Ethical frameworks
  • The strategic information system
  • Strategic thinking
  • Towards an integrated conceptualisation of strategic management

 

Module 3

Strategic Capability: Decision Making, Performance Management and Leadership

 

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  • Strategic capability
  • Strategy and decision making in organisations
  • Strategic decision-making process
  • Issues in strategic decision making
  • Developing a strategic decision-making process
  • Strategy and performance management
  • Leadership and strategic management
  • Strategy, the board and corporate governance
  • A practical model of leadership
  • Leadership roles
  • Learning and strategic leadership
  • Leadership and change management
  • Strategic leadership style
  • A managerial perspective on ethics

Strategy Analysis and Direction Setting

Module 4

Organisational Mission: Vision, Purpose and Values

 

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  • Mission: a statement of organisational aspirations
  • Vision statement
  • Purpose statement
  • Values statement
  • Optional components of a mission statement
  • Evaluating mission statements
  • Mission statement versus sense of mission

Module 5

Analysing the External Environment

 

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  • Process for analysing the strategic environment
  • External or internal analysis
  • Components of the strategic environment
  • Macroenvironment
  • Industry analysis
  • Customer analysis
  • Competitor analysis

 

Module 6

Environmental Turbulence and Strategic Management

 

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  • Building a flexible organisation
  • Identifying a turbulent environment
  • Is turbulence a problem or a predicament?
  • Concept of strategic flexibility
  • Creating strategic flexibility
  • Commodification and the creation of value
  • Scenario analysis
  • Strategic windows
  • Analysis of opportunities and threats

Module 7

Internal Analysis: Organisational Skills and Resources

 

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  • What is an organisational resource?
  • Identifying and analysing internal skills and resources
  • Organisational strengths and weaknesses
  • Shareholder value analysis
  • Approaches to quality management
  • Concept of the value chain
  • Linking resources to value creation
  • Critique of traditional approaches to analysing internal skills and resources
  • FPC resource matrix
  • Identifying core competencies

Module 8

Formulating Strategic Objectives

 

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  • Common mistakes in formulating objectives
  • The source of strategic objectives
  • Scope of strategic objectives - the Triple Bottom Line (TBL)
  • Attributes of strategic objectives
  • Linking strategic objectives to strategies and action plans
  • Establishing priorities for strategic objectives
  • Key result areas (KRAs)
  • Key performance indicators (KPls)
  • Establishing and validating strategic objectives

Strategic Choice

Module 9

Corporate Strategy Alternatives: Managing Organisational Scope

 

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  • The elusive 'right' strategy
  • Analysis of competitive advantage
  • Strategic gap analysis
  • Levels of strategy
  • Framework for developing corporate strategic alternatives
  • Corporate strategic alternatives
  • Quadrant 1 Market penetration, continuation, consolidation and divestment
  • Quadrant 2 Product development, product extension and vertical integration
  • Quadrant 3 Market development, market extension and international markets
  • Quadrant 4 Diversification alternatives
  • Methods of pursuing alternative strategies

Module 10

Business-Level Strategy Alternatives: Managing A Competitive Profile

 

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  • Generic competitive strategies
  • Choosing a generic strategy
  • Value analysis and business-level strategies
  • Specific business-level strategy alternatives
  • Competitive strategies in different industrial contexts
  • Competitive strategies in the public sector
  • Choosing a competitive strategy

Module 11

Evaluating and Choosing Strategic Alternatives

 

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  • Need for strategy evaluation
  • Strategy evaluation criteria
  • Evaluating corporate-level strategies
  • Corporate strategy evaluation models
  • Detailed screening of strategic alternatives
  • Alternative method of allocating priority to strategies
  • Impact of alternative strategies on stakeholders

Strategy Implementation and Strategic Performance Management

Module 12

Strategy Implementation

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  • Key issues in strategy implementation
  • Strategy implementation element 1: resource management
  • Strategy implementation element 2: organisation structure
  • Strategy implementation element 3: organisational systems
  • Strategy implementation element 4: corporate culture
  • Strategy implementation and risk management
  • Strategy implementation and integrated performance management
  • Why strategy implementation fails

Module 13

Managing Strategic Change

 

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  • Change and the strategic management process
  • Common change conditions
  • Change at different levels of strategy
  • Alternative approaches to change management
  • Model of strategic change
  • Resistance to change
  • Innovation and change management

Module 14

Assessing Strategic Performance

 

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  • Overview of strategic control
  • Strategic performance and 'drill-down' analysis
  • Assessing 'successful' strategic performance
  • Integrating corporate- and business-level strategy assessment
  • A strategy evaluation framework
  • The balanced scorecard
  • Implementing strategic controls

Module 15

Developing the Strategic Plan

 

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  • Characteristics of 'good' strategic planning systems
  • Strategic plan development
  • Developing a successful strategic plan
  • Integrating strategic, business and individual performance planning