Unit 951 - Strategic Management

1. Introduction to Strategic Management

• Definition and scope of strategic management
• Importance of strategic management in organizations
• Key components of strategic management processes
  • Strategic formulation
  • Strategic implementation
  • Strategic evaluation and control

2. Strategic Analysis

2.1 Environmental Scanning

• Purpose and types (external, internal)
• Tools and techniques (PESTEL analysis, SWOT analysis)

2.2 Industry Analysis

• Porter's Five Forces model
• Competitor analysis

2.3 Internal Analysis

• Resource-based view (RBV)
• Core competencies
• Value chain analysis

2.4 SWOT Analysis

• Identifying strengths, weaknesses, opportunities, and threats
• Integrating SWOT into strategic decision-making

3. Strategic Planning

• Setting organizational goals and objectives
• Strategy formulation processes
• Types of strategies (corporate, business, functional)
• Developing actionable strategic plans
• Competitive advantage and sustainability

4. Strategy Implementation

• Aligning organizational structure with strategy
• Role of organizational culture in strategy implementation
• Leadership and strategic change management
• Resource allocation and budgeting
• Communication and stakeholder management

5. Strategic Evaluation and Control

• Establishing performance metrics and benchmarks
• Monitoring and measuring strategy effectiveness
• Feedback mechanisms and corrective actions
• Balanced scorecard and other control tools

6. Corporate Strategy

• Defining corporate-level strategy and scope
• Growth strategies: diversification, mergers, acquisitions
• Strategic alliances and partnerships
• Portfolio management

7. Business-Level Strategy

• Competitive strategies (cost leadership, differentiation, focus)
• Market positioning and segmentation
• Responding to competitive forces

8. Functional-Level Strategy

• Marketing strategy
• Operations strategy
• Human resources strategy
• Financial strategy
• Aligning functional strategies with business strategy

9. International Strategy

• Motivations for global expansion
• Modes of entry: exporting, licensing, joint ventures, wholly-owned subsidiaries
• Adapting strategies to foreign markets
• Managing cultural differences and global teams

10. Strategic Leadership

• Role and characteristics of strategic leaders
• Vision and mission setting
• Decision-making under uncertainty
• Aligning organization towards strategic goals
• Leading change and innovation