Strategic Management

OBJECTIVES:

• To learn the major initiatives taken by a company’s top management on behalf of corporate, involving resources and performance in external environments. It entails specifying the organization’s mission, vision and objectives, and to equip with skills required to manage business and non-business organizations at senior levels. The course adopts a functional approach to management developing policies and plan to understand the analysis and implementation of strategic management in strategic business units.

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UNIT I - STRATEGY AND PROCESS

‍Conceptual framework for strategic management, the Concept of Strategy and the Strategy Formation Process – Stakeholders in business – Vision, Mission and Purpose – Business definition, Objectives and Goals – Corporate Governance and Social responsibility-case study.

UNIT II - COMPETITIVE ADVANTAGE

‍External Environment – Porter‘s Five Forces Model-Strategic Groups Competitive Changes during Industry Evolution-Globalisation and Industry Structure – National Context and Competitive advantage Resources- Capabilities and competencies–core competencies-Low cost and differentiation Generic Building Blocks of Competitive Advantage- Distinctive Competencies- Resources and Capabilities durability of competitive Advantage- Avoiding failures and sustaining competitive advantage-Case study.

UNIT III - STRATEGIES

‍The generic strategic alternatives – Stability, Expansion, Retrenchment and Combination strategies – Business level strategy- Strategy in the Global Environment-Corporate Strategy- Vertical Integration- Diversification and Strategic Alliances- Building and Restructuring the corporation- Strategic analysis and choice – Managing Growth – Environmental Threat and Opportunity Profile (ETOP) – Organizational Capability Profile – Strategic Advantage Profile – Corporate Portfolio Analysis – SWOT Analysis – GAP Analysis – Mc Kinsey’s 7s Framework – GE 9 Cell Model – Distinctive competitiveness – Selection of matrix – Balance Score Card-case study.

UNIT IV - STRATEGY IMPLEMENTATION & EVALUATION

‍The implementation process, Resource allocation, Designing organisational structure-Designing Strategic Control Systems- Matching structure and control to strategy-Implementing Strategic change- Politics-Power and Conflict-Techniques of strategic evaluation & control-case study.

UNIT V - OTHER STRATEGIC ISSUES

‍Managing Technology and Innovation – Strategic issues for Non Profit organisations. New Business Models and strategies for Internet Economy-case study Challenges in Strategic Management: Introduction, Strategic Management as an Organisational Force, Dealing with Strategic Management in Various Situations, Strategic Management Implications and Challenges

Recent Trends in Strategic Management: Introduction, Strategic Thinking, Organisational Culture and its Significance, Organisational Development and Change, Change Management, Strategic management in a new globalised economy

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