Learn how marketing, finance, production and human resources blend into a cohesive plan that provides a directional focus for your organization. This course enables you to develop and maintain a strategy for sustainable performance. Through case study analysis, this course will teach you to see the “big picture” and address the challenges involved in drafting a strategic plan.
At the completion of this course students will be able to:
- Enumerate and understand the essence and definitions of strategy, the key attributes of strategic management, and competitive advantages
- Perform an external environmental scan and know how trends and events in the general environment and forces in competitive environment are interrelated and affect performance
- Execute an internal analysis using various frameworks to gain insights into how individual activities are interrelated as well as how they create, add value and maintain a sustainable advantage for the firm
- Recognize the vital role of technology and understand the key role of social capital in leveraging knowledge and human capital
- Develop unique strategies and understand how the successful attainment of generic strategies while considering the industry life cycle can improve a firm’s relative power vis-à-vis the five forces that determine an industry’s average profitability
- Appreciate why firms engage in diversification efforts and how corporations use related and unrelated diversification to achieve synergistic benefits through various corporate level strategic methodologies
- Understand the two opposing forces—cost reduction and adaptation to local markets—that firms face when entering international markets and explicate the advantages and disadvantages associated with each of the four basic strategies for achieving competitive advantage in global markets
- Comprehend and clarify how the internet is disrupting industry structures and how internet technologies are affecting the five competitive forces as well as how and why firms are using e-business strategies to add value and achieve unique advantage and their competitive position
- Understand the relationship between a firm’s strategy and a firm’s structure as well as their relative advantages and disadvantages of each type of organizational structure
- Explain why there is no “one best way” to design strategic control systems and how the most effective systems are contingent on situational factors and the organization’s specific strategic choices and the role governance plays in ensuring that the interests of managers align with those of shareholders
- Describe the crucial role of emotional intelligence, ethics, and a leader’s role in establishing successful leadership in creating and maintaining a learning organization.
- Understand how corporations create an internal environment and culture that promotes entrepreneurial development in successfully pursuing and supporting new ventures in achieving an organization’s mission
This course is offered in class and online. There is a reasonable amount of work involved outside the classroom. Textbooks are required, and reading will be assigned on a regular basis. If you choose to take this course online you should plan to log into your course regularly throughout the week.
Please come to this course prepared to share your experiences, opinions and perspectives with the class.