BITM Strategic Management

Concept and importance of strategic management. evolution of strategic management. elements of strategic management. strategic management process. need for strategy. levels of strategy. concept and features of strategic planning. concept of vision. mission and objectives. roles of information in strategic management.

Concept of environment (internal and external). Techniques of external environment analysis: PESTLE analysis, ETOP, scenario planning, competitors analysis. Techniques of internal analysis: value chain analysis, comparative analysis (historical comparison, industry standards, benchmarking), strategic advantage profile (SAP) and financial analysis. SWOT analysis for strategies. environmental analysis for strategic management.

Strategy formulation: concept and importance. Generating strategic options: corporate strategy, business strategy and functional strategy. Strategic alternatives at corporate level (stability strategy, growth strategy, retrenchment strategy, combination strategy). Strategic alternatives at business level (Porter's competitive strategy, strategic clock - oriented market based generic strategies). Strategies at functional level (marketing strategy, financial strategy, operation strategy, human resource management strategy and research and development strategy). Direction for strategy development (Consolidation, market penetration, product development, market development, diversification). Methods of strategy development (Internal development method, acquisition and merger method, joint development and strategic alliances method). Portfolio analysis for strategic choice (BCG matrix, GE Business Screen, Hofer's Matrix).

Concept and meaning of strategy implementation. organizational structure and its types for strategy implementation (simple, functional, multidivisional, SBU, holding company, Project based, team based structure). process of strategy implementation. strategic leadership. requirements for strategy implementation: structure, resources and management system.

Concept of strategic evaluation and control. strategic audit. strategic information system. difference between strategic and operational control. types of strategic control and evaluation. guidelines for proper control and evaluation. roles of information in strategic evaluation and control.