Paper 13: Strategic Management

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About Course

The Professional courses are administered at Foundation, Intermediate and Advanced Levels. Each level requires an average of one year, though candidates are advised to provide for an additional one year to meet requirements for internship/ practical experience.

A student must book for a minimum of three papers in a level in any order unless is exempted or has credits.

This course is aimed at persons who wish to qualify and work or practice as corporate secretaries, policy formulators, and consultants in governance, governance and compliance auditors and administrators at county and national levels and in the private sector.

Course Content

Overview of Strategic Management   
Concept of strategy Purpose of strategy Characteristics of strategy Advantages and disadvantages of strategic planning  Strategy approaches  Strategic versus tactical decisions Patterns of strategy development 

  • Overview of Strategic Management Part 1
  • Overview of Strategic Management Part 2

History of the Organisation and Culture
History of the Organisation Importance of history Path dependency History as a resource Historical analysis Mission: stated and perceived                                           Organisational culture Influence of culture on strategy Undertaking cultural analysis Hofstede’s Cultural Dimensions Theory

Strategy Levels and Intent
Corporate strategy Business strategy  Operational strategy Functional strategy  Vision statement Mission statement Strategic objectives Statement of corporate values

Strategic Management Process 
Steps in the strategic management process  Strategic management in different contexts  Uncertainty and strategic drift Limitations of strategic management 

Strategic Analysis: The External Environment  
Policy and administrative framework Political environment  Economic environment Sociocultural environment Technological environment Ecological environment Legal environment Key drivers for change Industry and sector analysis Tools for external analysis  Competitor Analysis 

Strategic Analysis: The Internal Environment 
Distinctive resources and capabilities as a basis of competitive advantage VRIO- value of resources and capabilities, rarity, inimitability, organisational support Organisational knowledge as a basis of competitive advantage Diagnosing resources and capabilities The value chain and value system Activity systems Benchmarking Strengths and Weaknesses The Balanced Scorecard and Strategy map Critical success factor analysis Scenario planning Gap Analysis SWOT and the business model Key features of corporate culture  Health cultures that aid strategy execution  Unhealthy cultures that impede strategy execution  Influence of culture on strategy Undertaking cultural analysis

Business Strategy and Models
Generic competitive strategies Cost leadership strategy Differentiation strategy Focus strategy Hybrid strategy The Strategy Clock 7.2 Interactive strategies Interactive price and quality strategies Cooperative strategy Game theory 7.3 Business models Value creation. configuration and capture Business model patterns

Corporate Strategy and Diversification
Strategy directors Diversification and performance Vertical integration Value creation and corporate parent Portfolio matrices The BCG (growth/share) matrix The directional policy (GE- McKinsey) matrix PIMS (Profit Impact on Marketing Strategy Parenting matrix The Scenario/vision – building approach

International Strategy
Internationalization drivers International business environment and challenges  Geographical sources of advantage Locational advantage: Porter’s Diamond The international value system International strategies Market selection and strategy Internationalisation and performance

Strategy Development Processes
10.1 Strategic thinking The paradox of logic and creativity The art and science of strategic thinking The “Deep Dive” analogy: acumen, allocation of resources and action  10.2 Strategy formation Deliberate strategy developers Emergent strategy developers Logical incrementalism Strategy as an outcome of political processes 10.3 Implications for managing strategy development Strategy development in different contexts Managing deliberate and emergent strategies

Matching Organisational Structure to Strategy
Value chain activities to be performed internally Value chain activities to be outsourced Aligning structure with strategy  Organisational structure Simple structure  Functional structure Divisional structure Matrix structure Multinational structures Project-based structures Strategy and structure fit Delegation of authority  Systems Planning system Performance targeting systems Configurations and adaptability The McKinsey 7-Ss Agility and resilience Collaboration with external parties and strategic allies (network structure) 

Leadership and Strategic Change
Strategic Leadership vision and change Theories of leadership and change Types of strategic change Levers for strategic change Methods of introducing strategic change  Strategic leadership roles and effectiveness Strategic change: revolution versus evolution Diagnosing the change context Managing major changes Problems of formal change programmes Managing corporate politics Managing complexity Leadership in practice

The Practice of Strategy
The strategists Top managers and directors Strategic planners Middle managers Strategy consultants Strategising Strategy analysis Strategy issue-selling Strategic decision making Communicating the strategy Strategy methodologies Strategy workshops Strategy projects Hypothesis testing Business cases and strategic plans Strategy Implementation Relationship between strategy formulation and implementation  Plans Programs and budgets  Steps for effective strategy implementation  Resource allocation

Strategic Control
Evaluation and control in strategic management  The strategic control process  Monitoring evaluation and reporting  Measuring corporate performance  Strategic information systems Strategic surveillance Guidelines for proper control Balance Scorecard as a tool for control Sustaining organisational effectiveness

Contemporary issues and Case Studies in Strategic Management

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