Introduction to Course
Business Strategy Planning
Week 1:- Introduction to Strategic Management -Definition, key terms, strategic
management model, benefits
Week 2:- Business Ethics, Social Responsibility and Environmental Sustainability
Code of business ethics, ethics culture, social policy, sustainability and
green behavior
Week 3:- The Business Vision and Mission -Importance of vision and mission statements,
writing and evaluating these statements + ASSIGNMENT 1
Week 4:- External Assessment -Industrial organization view, PESTEL, Porter’s five forces
model + QUIZ 1
Week 5:- External Assessment -Sources of external information, EFE matrix, CPM
Week 6:- Internal Assessment - Resource based view, culture and strategy, Management
Functions overview + ASSIGNMENT 2
Week 7:- Internal Assessment -IFE matrix, VCA + QUIZ 2
Week 8:- Strategies in Action - Long term objectives, Generic strategies, Strategic management
in nonprofit and government organizations
WEEK 9:- MID TERM
Week 10:- Strategy Analysis and Choice - Input stage, Matching stage (SWOT, SPACE, BCG,
IE) - Decision stage (QSPM)
Week 11:- Strategy Analysis and Choice - Input stage, Matching stage (SWOT, SPACE, BCG,
IE) - Decision stage (QSPM) + Assignment 3
Week 12:- Implementing Strategies - Objectives, policies, resource allocation, managing
conflict + QUIZ 3
Week 13:- Strategy Review, Evaluation and Control - Rumelt’s criteria for strategy evaluation,
strategy evaluation framework
Week 14:- International/global issues in strategic management + Assignment 4
Week 15:- Revision and Project Presentation + QUIZ 4
Week 16:- Presentation
Week 17:- FINAL TERM
Introduction to Strategic Management
Definition, key terms, strategic management model, benefits
Definition of Strategic Management
• Strategic Management is the process of
determining an organization’s long-term goals
and then identifying the best approach for
achieving those goals.
Key Terms - Strategy
• A strategy is a plan of action designed to
achieve long-term goals and gain competitive
advantage.
Key Terms - Strategic Planning
• Strategic Planning is a systematic process of
envisioning a desired future and translating
this vision into broadly defined goals or
objectives.
Key Terms - Competitive Advantage
• Competitive Advantage refers to anything that
a firm does especially well compared to rival
firms.
Key Terms - Vision and Mission
• Vision: Future-oriented declaration of purpose
• Mission: What an organization is and why it
exists
Examples of Vision and Mission Statements
🔹 Google
• • Vision: To provide access to the world’s information in one click.
• • Mission: To organize the world’s information and make it universally
accessible and useful.
🔹 Tesla
• • Vision: To create the most compelling car company of the 21st century by
driving the world’s transition to electric vehicles.
• • Mission: To accelerate the world’s transition to sustainable energy.
🔹 Amazon
• • Vision: To be Earth’s most customer-centric company.
• • Mission: To continually raise the bar of the customer experience by using the
internet and technology to help consumers find, discover, and buy anything.
Stages of Strategic Management
• 1. Strategy Formulation
• 2. Strategy Implementation
• 3. Strategy Evaluation
Strategy Formulation
• Includes developing vision and mission,
identifying external opportunities and threats,
determining internal strengths and
weaknesses, and establishing long-term
objectives.
Strategy Implementation
• Requires a firm to establish annual objectives,
devise policies, motivate employees, and
allocate resources.
Strategy Evaluation
• Includes reviewing external and internal
factors, measuring performance, and taking
corrective actions.
Strategic Management Model (Text)
• Model includes:
1) Environmental Scanning
2) Strategy Formulation
3) Strategy Implementation
4) Evaluation and Control
Strategic Management Model (Diagram)
Strategic Management Model (Diagram)
Characteristics of Strategic Decisions
• - Long-term direction
• - Scope of activities
• - Competitive advantage
• - Strategic fit
Benefits of Strategic Management - 1
• - Clear sense of strategic vision
• - Sharper focus on goals and objectives
Benefits of Strategic Management - 2
• - Improved understanding of external
environment
• - Enhanced coordination and control of
activities
Benefits of Strategic Management - 3
• - Better performance
• - Alignment of objectives across departments
Examples of Strategic Decisions
• - Entry into a new market
• - Mergers and acquisitions
• - Product innovation strategies
Real-World Strategic Practices
• - Apple’s focus on innovation
• - Amazon’s supply chain strategy
• - Tesla’s vision-driven approach
References
• Strategic Management Concepts & Cases: A
Competitive Advantage Approach by Fred R. David
& Forest R. David, 16th Edition, Published by
Pearson Education Limited.
• Strategic Management and Business Policy:
Globalization, Innovation and Sustainability by
Thomas L. Wheelen, J. David Hunger, Alan N.
Hoffman & Charles E. Bamford, 15th Edition,
Published by Pearson Education Limited.
