Introduction to Strategic Management from Udemy

Strategic Management is all about identification and description of the strategies that managers can undertake so as to achieve better performance and a competitive advantage for their organization. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry.

The manager must have a thorough knowledge and analysis of the general and competitive organizational environment so as to take right decisions. Managers should use the results of the SWOT Analysis to make best possible utilization of the organizational strengths, minimize the organizational weaknesses, make use of arising opportunities from the business environment and shouldn’t ignore the threats.

They should conduct a SWOT Analysis which is an analysis of the Strengths, Weaknesses, Opportunities, and Threats of an organization. Strategic management is nothing but planning for both predictable as well as unfeasible contingencies. Strategic Management is a way in which strategists set the objectives and proceed about attaining them.

It is applicable to both small as well as large organizations as even the smallest organization faces competition and by formulating and implementing appropriate strategies; they can attain sustainable competitive advantage. Strategic management is a continuous process that evaluates and controls the business and the industries in which an organization is involved. Hence, it is important to re-evaluate strategies on a regular basis to determine how they had been implemented and whether they were successful or do the strategies need replacement.

Strategic Management gives a broader perspective to the employees of an organization and they can better understand how their job fits into the entire organizational plan and how it is co-related to other organizational members. It helps the employees become more trustworthy, more committed and more satisfied as they can co-relate themselves very well with each organizational task.

What's inside

Learning objectives

Explain what is strategic management
Explain what is a strategy
Describe the strategy statement and its components
Explain the steps of strategic management process
Describe the components of strategic management process
Differentiate between strategy formulation and strategy implementation
Differentiate between strategic, administrative and operational decisions
Describe the qualities of a strategic leader
Explain what is a business policy

Describe the structure of bcg matrix
Describe the factors of swot analysis
Explain porter’s five forces model of competition
Explain what is corporate governance
Explain what is business ethics
Describe the core competency theory of strategy
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Explain what is strategic management
Explain what is a strategy
Describe the strategy statement and its components
Explain the steps of strategic management process
Describe the components of strategic management process
Differentiate between strategy formulation and strategy implementation
Differentiate between strategic, administrative and operational decisions
Describe the qualities of a strategic leader
Explain what is a business policy
Describe the structure of bcg matrix
Describe the factors of swot analysis
Explain porter’s five forces model of competition
Explain what is corporate governance
Explain what is business ethics
Describe the core competency theory of strategy
Show more
Show less

Syllabus

Introduction

Explain What is Strategic Management

Explain What is a Strategy

Describe the Strategy Statement and its Components

Explain the Steps of Strategic Management Process

Describe the Components of Strategic Management Process

Differentiate between Strategy Formulation and Strategy Implementation

Differentiate between Strategic, Administrative and Operational Decisions

Describe the Qualities of a Strategic Leader

Explain What is a Business Policy

Describe the Structure of BCG Matrix

Describe the Factors of SWOT Analysis

Explain Porter’s Five Forces Model of Competition

Explain What is Corporate Governance

Explain What is Business Ethics

Describe the Core Competency Theory of Strategy

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Provides a detailed analysis of general and competitive organizational environments, helping learners make informed decisions

Offers a comprehensive understanding of SWOT Analysis, aiding learners in identifying strengths, weaknesses, opportunities, and threats

Covers Porter's Five Forces Model of Competition, empowering learners to analyze industry dynamics and competitive landscapes

Delves into the Core Competency Theory of Strategy, enabling learners to identify and leverage unique organizational strengths

Suitable for both small and large organizations, making it practical for a wide range of learners

Requires no prior knowledge of the subject, making it accessible to beginners

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Introduction to Strategic Management with these activities:

Review 'Strategic Management: A Competitive Advantage Approach'

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Enhance your foundational knowledge by reviewing a comprehensive text that provides a structured overview of strategic management principles and frameworks.

View Strategic Management on Amazon

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Seek Mentorship from Industry Professionals

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Gain valuable insights and perspectives by connecting with industry professionals and seeking their guidance on strategic management practices.

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Practice application of SWOT Analysis

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Engage with exercises and drills that reinforce the practical application of SWOT Analysis for enhanced understanding.

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Five other activities

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Follow tutorials on Porter's Five Forces Model

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Supplement your learning by exploring tutorials that provide step-by-step guidance on applying Porter's Five Forces Model for competitive analysis.

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Attend a workshop on 'Crafting Effective Strategies'

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Gain practical insights and techniques for developing and implementing effective strategies by participating in a dedicated workshop.

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Volunteer as a Study Group Leader

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Deepen your knowledge by actively leading study groups, facilitating discussions, and providing guidance to fellow learners.

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Business Policy Development Project

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Solidify your understanding by actively participating in developing a comprehensive business policy framework that aligns with strategic objectives.

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Define the scope and objectives of the business policy
Conduct research and analysis on industry best practices and trends
Develop and document the business policy guidelines and procedures
Present the business policy to stakeholders for feedback and approval

Infographic: 'Key Components of Strategic Management'

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Reinforce your understanding by creating a visually appealing infographic summarizing the core components and processes involved in strategic management.

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Career center

Learners who complete Introduction to Strategic Management will develop knowledge and skills that may be useful to these careers:

Corporate Planner

Corporate planners develop and implement corporate plans. The understanding of strategic planning principles from **Introduction to Strategic Management** can help corporate planners develop and implement effective corporate plans.

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Consultant

Consultants help organizations improve their performance. The analytical frameworks and critical thinking skills from **Introduction to Strategic Management** can be used by consultants to diagnose organizational problems and develop solutions.

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Strategy Consultant

Strategy consultants help organizations develop and implement strategies. The understanding of business strategy and management principles from **Introduction to Strategic Management** can help strategy consultants develop and implement effective strategies.

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Management Consultant

Management consultants help organizations improve their operations. The understanding of business strategy and management principles from **Introduction to Strategic Management** can help management consultants develop and implement solutions to improve organizational performance.

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Financial Analyst

Financial analysts help companies make investment decisions. The knowledge of financial markets and analysis techniques from **Introduction to Strategic Management** can help financial analysts evaluate potential investments and make recommendations.

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Product Manager

Product managers develop and launch new products. The understanding of product development and management principles from **Introduction to Strategic Management** can help product managers develop and launch successful products.

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Operations Manager

Operations managers oversee the day-to-day operations of an organization. The understanding of operations management principles from **Introduction to Strategic Management** can help operations managers improve the efficiency and effectiveness of their operations.

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Public Administrator

Public administrators manage public sector organizations. The understanding of public administration principles from **Introduction to Strategic Management** can help public administrators develop and execute effective public administration strategies.

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Investment Banker

Investment bankers help companies raise capital. The understanding of financial markets and analysis techniques from **Introduction to Strategic Management** can help investment bankers structure and execute financial transactions.

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Entrepreneur

Entrepreneurs start and run their own businesses. The understanding of business strategy and management principles from **Introduction to Strategic Management** can help entrepreneurs develop and execute successful business plans.

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Business Development Manager

Business development managers identify and develop new business opportunities for an organization. The understanding of business strategy and market analysis techniques from **Introduction to Strategic Management** can help business development managers identify and develop successful business opportunities.

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Nonprofit Manager

Nonprofit managers oversee the operations of nonprofit organizations. The understanding of nonprofit management principles from **Introduction to Strategic Management** can help nonprofit managers develop and execute effective nonprofit management strategies.

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Marketing Manager

Marketing managers develop and execute marketing campaigns. The understanding of marketing strategy and analysis techniques from **Introduction to Strategic Management** can help marketing managers develop and execute effective marketing campaigns.

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Project Manager

Project managers plan and execute projects. The understanding of project management principles from **Introduction to Strategic Management** can help project managers plan and execute successful projects.

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Sales Manager

Sales managers oversee the sales team of an organization. The understanding of sales strategy and management principles from **Introduction to Strategic Management** can help sales managers develop and execute effective sales strategies.

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