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STRATEGIC MANAGEMENT BBS207

Duration (approx) 100 hours
Qualification Statement of Attainment

Learn to develop strategies that think ahead

  • be aware of the tools and resources used to manage organisations strategically.
  • understand optional approaches to strategic management
  • make appropriate decisions that are focussed on achieving the long term goals of a business or organisation.

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Learn to develop strategies that think ahead

Be conscious of tools and resources that are and will become available, then make appropriate decisions that are focussed on achieving the long term goals of a business or organisation.

What is Strategic Management?

This is a management concept that involves developing objectives, analysing the competition and your internal organisation, then evaluating strategies to ensure any developed strategies are implemented successfully.

To be successful strategic management must be:

  • Flexible
  • Supported from the top
  • User friendly
  • A planned process i.e. it shouldn’t be a quick fix
 

Course Content:

Nine Lessons as follows:

Lesson 1.  Nature and Scope of Strategic Management

  • What is the Difference between Strategy & Strategic Management?
  • The Importance Of Strategic Planning
  • Mintzberg’s Five P’s
  • How can you Use Mintzberg’s Approach?
  • What Strategies Are There?
  • Views of Strategy
  • Levels of Decisions 
  • Strategic (Corporate) Level Decisions
  • Tactical (Business) Level Decisions
  • Operational (Functional) Level Decisions
  • Where Do You Start?
  • Analysis of your external environment and resource capabilities. 
  • Identify your mission statement. 
  • Identify a vision for the future. 
  • What are your core values and guiding principles? 
  • What are your long term goals and SMART objectives?  
  • An action plan with timelines. 
  • Develop a communication plan. 
  • Develop and implementation and monitoring plan.  

Lesson 2. The External Environment

  • Introduction
  • Why Analyse the External Environment? 
  • Tools of Analysis – Macro Environment
  • Pestle Analysis
  • Political
  • Economic
  • Socio-Cultural
  • Technological
  • Legal
  • Environmental
  • Porter’s Five Forces
  • Bargaining Power of Suppliers
  • Bargaining Power of Buyers
  • Threat Of Potential New Entrants
  • Threat Of Substitutes
  • Extent Of Competitive Rivalry
  • Competitors Review
  • Competitor Profiling 
  • Tools of Analysis – Micro Environment
  • SWOT Analysis

Lesson 3. The Internal Environment

  • Purpose of Analysing the Internal Environment
  • Internal Analysis Tools
  • VRIO
  • McKinsey 7S Framework
  • Using and Applying McKinsey’s Model
  • Value Chain
  • Portfolio Analysis
  • Competitive Advantage 

Lesson 4. Strategic Management of Human Resources

  • Human Resources
  • Staff and Strategic Planning
  • What is an HR Audit?
  • Components of an HR audit 
  • Organisational Structure & Strategy
  • Hierarchal 
  • Functional 
  • Horizontal (also known as Flat) 
  • Divisional
  • Matrix
  • Team Based
  • Network
  • Process
  • Succession Planning
  • Organisational Culture
  • Adhocracy
  • Clan
  • Hierarchy
  • Market

Lesson 5. Developing a Strategic Plan

  • Business Level Versus Corporate Level Strategy
  • Developing a Strategy
  • What Focus are you Wanting to Achieve? 
  • Strategy Mapping
  • Finances
  • Customers
  • Processes
  • Learning/Growth
  • Choosing the Right Strategy
  • Consistency
  • Suitability
  • Validity
  • Feasibility
  • Business Risk
  • Attractiveness to Stakeholders
  • Strategic Plan Document
  • Foundation
  • Competitive Advantages
  • Vision
  • Strategic Objectives and Organisational Goals
  • Key Performance Indicators
  • Resource Implications
  • Implementation
  • Strategy Timeline
  • Evaluation before implementation

Lesson 6. Some Initial Checks

  • Resource Allocation
  • Who Allocates Resources?
  • Gaps In Resources
  • Balanced Scorecard & Strategy Implementation
  • The four perspectives
  • Implementing the BSC
  • Communicating the Implementation
  • Evaluation
  • Who Evaluates?
  • What Are You Evaluating?
  • What Happens After Evaluation?
  • Strategy Monitoring & Control
  • Creating A Control System
  • Types of Control

Lesson 7. Green Strategy and Sustainability

  • Sustainability
  • What is a Green Strategy?
  • What do Companies Need to Consider? 
  • Creating a more Sustainable Business Strategy
  • Assess the problem and define the objectives
  • What is the organisation’s mission?
  • Identify the available options
  • Implementation
  • Sustainability and Strategy - Areas for Concern
  • Management Buy-In
  • Stakeholder Engagement
  • Goal Type
  • Poor Monitoring
  • Lack Of Investment
  • Not Aligning Strategies
  • Loss Of Innovation
  • Missed Cost Savings
  • Negative Perception

Lesson 8. Managing Strategic Change

  • What is Strategic Change?
  • Why do we need Strategic Change?
  • Maslow’s Hierarchy of Needs and Change
  • Impacts of Strategic Change
  • What Causes the Need for Strategic Change?
  • Approaches To Managing Strategic Change – Emergent and Prescriptive Tools
  • Developing A Strategic Change Plan
  • Sustainable Change
  • Pillars of Sustainable Change
  • Leadership
  • Strategy
  • Culture
  • Structure
  • Systems
  • A Model for Sustainable Change
  • The Prerequisite Approach
  • Building Awareness
  • Levels Of Motivation and Desire 
  • Assess Abilities 
  • Creating Opportunities 
  • Feedback

 Lesson 9. Leading Strategic Change

  • Leading Strategic Change
  • What is Strategic Leadership?
  • Leadership and Management
  • Leadership Styles
  • Situational Leadership Theory
  • Life Cycle of Leadership
  • Contingency Theories
  • Fielder
  • Style Theories
  • The Blake and Mouton Managerial Grid
  • Informal Leadership
  • Inspirational Theories
  • Path Goal Theory
  • Instrumental Theories
  • Four Framework Leadership Model
  • Limitations of Leadership Theories
  • Leading Strategic Planning and Change
  • Tools

Lesson Aims

  • Discuss the nature and scope of Strategic Management in organisations.
  • Analyse the external environment that affects an organisation’s operations 
  • Determine potential applications of strategic management to human resources in an organisation. 
  • Determine how to develop a strategic plan.
  • Recommend the implementation of components of a strategic plan
  • Develop socially, economically, and environmentally sustainable approaches within a strategic plan 
  • Explain how to manage strategic change.
  • Explain how to lead or facilitate strategic change

 

Once Determined -How are Strategies Implemented?

For strategies to be put in to place, they require resources. Without resources, or the correct level of resources, the likelihood of the strategy not being effectively implemented is very high. The process of resource allocation is about planning how to use available resources in order to achieve goals, they are key inputs to successful implementation. Without the correct resources, in the right place, at the right time, the plan may not be executed successfully. 
Resources are often divided in to four, fairly broad, categories:

  1. Physical (land, buildings, equipment etc)
  2. Financial (share and loan capital) 
  3. Human (right number of employees, with the right skills)
  4. Intellectual or intangible (non-physical which are necessary in some industries e.g., legal permissions, brand designs, databases etc)

    There will be some aspects of resource allocation which are a one-time process i.e. resources which are only required to get a project off the ground. There are also resources which require continuous allocation. 

Who Allocates Resources?

There are three approaches which can be taken, which one will depend on the structure of the business and the controls in place. 

  • Top down – allocation takes place at a corporate level 
  • Bottom up – resource allocation is completed after recommendations from the operational departments are taken in to consideration
  • Budget – this is a joint decision-making process focused on the financial resources available in terms of the budget available

In order for accurate allocation to be applied there is often decision making taken at both the corporate and business (or operational) level. At the corporate level there is a focus on what is required within each area (this could be departments or product lines for example), and at the operational level there is concern with how the resource is deployed in order to support the strategy. At a corporate level there is high interest in the cost of the resource, the related impact on the bottom line, but also ensuring that the resource allocation will contribute towards successful strategy implementation.

Who Needs to Learn Strategic Management?

  • Managers, Owners, Stake holders who are invested in better management of an organisation in any way
  • Anyone who needs to allocate or control the use of resources used to make a strategic management plan work
  • Students of management, teachers, writers, academics, researchers, anyone with an interest in improving their knowledge and skill in this subject

 

 
Courses can be started anytime from anywhere in the world!

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