BFB3350: STRATEGIC MANAGEMENT [45 LH]
PURPOSE OF THE COURSE
To equip a learner with knowledge on strategic management.
EXPECTED LEARNING OUTCOMES
By the end of the course the learner should be able to:-
- Describe internal and external business environment
- Describe the values of strategic management
- Discuss strategy formulation, control and evaluation.
- Formulate missions for different organizations
- Conduct an industry analysis to understand competitive forces that influences the intensity of rivalry within an industry.
- Implement, evaluate and control business strategies.
Introduction to Strategic Management: Definitions of terms and general management concepts, Role of strategy, Strategic management process/Cycle, Levels of Management. Strategy formulation: Elements of strategy Formulation, Strategic analysis tools, Environmental analysis (industry competition), Value chain analysis, Portfolio analysis, Scenario planning, Hierarchy of Strategy, Grand strategies (Turnaround and recovery strategies), Michael Porters generic strategies. Strategy implementation: Elements of strategic implementation, Resource planning, Managing strategic change, Strategy vs. organizational goals, Aligning strategy and the organization, Strategy Evaluation and control – A continuous Process.