Unit 1: Introduction LH 4
Meaning of strategy and strategic management; Strategic Management Model; Characteristics of strategic management; Formality in strategic management.
Unit 2: Company Direction LH 3
Mission and mission statement; Vision; Strategic intent; Strategic objective vs. Financial objective; Policies; Long term and short term objectives.
Unit 3: External Environment Analysis LH 10
PEST analysis - political, legal, economic, socio-cultural, technological, ecological, and international environment analysis framework (individualism vs. collectivism, totalitarian system vs. democracy, common law vs. civil law system; Determinants of culture; State of technological stage; Impact of ecological and international factors); Industry and competitive analysis - Porter's five force model; Monitoring competition.
Unit 4: Internal Analysis LH 5
Resource to competitive advantage pyramid; internal analysis approaches - value chain; functional approach; and Resource based view (RBV); Benchmarking.
Unit 5: Strategic Options and Choice Techniques LH 10
Porter's five generic strategies, Grand Strategies (concentration, market development, product development, innovation, vertical and horizontal integration, concentric and conglomerate diversification, retrenchment/turnaround, divesture, liquidation, bankruptcy, joint venture, and strategic alliance); Corporate level analytical tools - BCG and GE nine cell matrices; Business level analytical tools - grand strategy selection matrix and grand strategy cluster.
Unit 6: Post-formulation and Pre-implementation Phase LH 6
Matching existing organizational structure, leadership, and organizational culture with newly chosen strategy.
Unit 7: Implementation Phase LH 5
Functional plan - finance, Marketing, HR, R & D, Production operations, MIS, and general management work plan.
Unit 8: Strategic Evaluation and Control LH 5
Difference between strategic and operational control; Strategic control tools - premise control, strategic surveillance, Implementation control, and special alert.