Strategic Management - Planning


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number


Overview/Description
Strategic management is defined as the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company's objectives. Strategic management is future oriented and long-term focused. This course focuses on the planning phase of strategic management, which includes defining company mission, performing internal analysis, and evaluating the external environment.

Target Audience
Business students and professionals who want to gain knowledge of the strategic planning process fundamentals.

Expected Duration (hours)
2.5

Lesson Objectives

Strategic Management Overview

  • recognize the behavioral benefits of the strategic management in achieving the goals of an organization.
  • identify the dimensions of strategic management activities.
  • match the levels of strategic management with their characteristics.
  • match the components of the strategic management planning with their descriptions.
  • identify the implications of viewing strategic management as a process.

    • Defining Company Mission

  • recognize the significance of a well-defined company mission.
  • select the components of a company mission.
  • identify the steps strategic makers take to achieve company responsibility for stakeholders.

    • Internal Analysis

  • identify the importance of conducting internal analysis.
  • identify the activities associated with functional approach in SWOT analysis.
  • sequence the steps in conducting value chain analysis.
  • select the comparison standard to use when examining internal strengths and weaknesses.

    • External Environment

  • identify the importance of a firm's concern about the external environment in strategy formulation.
  • match the remote environment factors with their examples.
  • select the forces in the industry environment that shape strategy.
  • identify the issues to be considered in industry analysis and competitive analysis.
  • match the factors in the operating environment with their descriptions.
  • sequence the steps in conducting environmental forecasting.

    • Course Number:
    STGY0301