Strategic Management: Concepts & Tools

Upon successful completion of this course, participants will be able to:

Chapter 1

• Define strategic management;
• Discuss the three phases of the strategic management process;
• Outline the strategic planning process;
• Define guiding philosophy, purpose, mission, objectives, and strategies;
• Explain the reason for organizational policies;
• Differentiate between long- and short-range objectives;
• Discuss corporate, business, and functional strategies;
• Compare and contrast social responsibility (CSR) and business ethics;
• Explain what a strategic business unit (SBU) is;

Chapter 2

• Explain environmental analysis;
• Describe the relationship among environmental analysis, competitive analysis, and internal appraisal;
• Discuss some of the characteristics of an organization’s environment;
• Explain the three major steps involved in environmental analysis;
• Describe the six major environmental forces that can influence an organization;
• Explain both qualitative and quantitative forecasting techniques;
• Define scenario planning;

Chapter 3

• Present the five forces of competition model;
• Identify opportunities and threats;
• Identify strengths and weaknesses;
• Describe how to assess the competitive positions of rival companies;
• Describe the process of industry and competitive analysis;
• Present the concept of the industry life cycle and discuss issues involved in the analysis of industry structure;
• Summarize the major issues in determining key success factors (KSF) in an industry;
• Discuss product life cycle;

Chapter 4

• Describe the internal appraisal process;
• Identify nine areas that organizations should analyze in performing an internal appraisal;
• Discuss resources and capabilities (or competencies) as the fundamental building blocks of a firm’s strategy;
• Outline the VRINE framework for competitive advantage;
• Distinguish between long- and short range organizational objectives;
• List several potential areas for establishing long range objectives;
• Describe the basic steps in a SWOT analysis;
• Outline value chain, cost driver, and core competencies analyses;

Chapter 5

• Distinguish among corporate, business, and functional strategies;
• Explain the characteristics of a stable growth strategy;
• Describe three general approaches to pursuing a concentration strategy;
• Define vertical integration;
• Discuss the difference between concentric and conglomerate diversification;
• Distinguish among mergers, and acquisitions (M&As) and joint ventures;
• Explain a takeover and tender offer;
• Describe a harvesting strategy;
• Discuss the defensive strategies of turnaround, divestment, liquidation, filing for bankruptcy, and becoming a captive;
• Distinguish among generic competitive strategies: overall cost leadership, differentiation, and focus strategies;

Chapter 6

• Apply the Balanced Scorecard to your company;
• Describe the BCG’s growth-share matrix;
• Define cash cows, dogs, question marks, and stars as they are used in the growth-share matrix;
• Outline the GE’s model;
• Discuss the life cycle approach to strategy evaluation and selection;
• Describe the profit impact of market strategy (PIMS) approach to strategy evaluation and selection;

Chapter 7

• Design organizational structures that help implement a chosen strategy;
• Discuss how to build the strategy implementation framework;
• Achieve various types of synergy;
• Distinguish among four types of operations strategy;
• Explain the concept of Management by Objective (MBO);
• Discuss Total Quality Management (TQM);
• Manage change;

Chapter 8

• Outline the control process step by step;
• Describe the pros and cons of various corporate performance measures;
• Define benchmarking;
• Differentiate conventional planning and discovery-driven performance;
• List financial and nonfinancial measures of performance;

Chapter 9

• Discuss reasons for the rising internationalization of business;
• Discuss the characteristics of global industries;
• Define multidomestic and global industries;
• Determine strategies in global markets;
• Outline the role of national factors in global strategy;
• Identify generic strategies companies may pursue in global industries; and
• Apply the CAGE framework to finding the foreign location.