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Strategic Management

Course CodeBBS207
Fee CodeS2
Duration (approx)100 hours
QualificationStatement of Attainment

Plan and execute a strategic approach to management

- businesses, organisations, finance, marketing, logistics, personnel, and more 

Strategic planning makes you think about where your strengths and weaknesses lie, and how/whether they can be leveraged to develop competitive advantage (where you are better than others in the same/similar markets). Alongside this, as a long-term plan, it also acknowledges where you may need to consider skill or competence development. Strategic planning is about having the ability to look at the long-term view of the business and where you want to be. 

Lesson Structure

There are 9 lessons in this course:

  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.
  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
  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
  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
  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
  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
  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
  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
  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

Each lesson culminates in an assignment which is submitted to the school, marked by the school's tutors and returned to you with any relevant suggestions, comments, and if necessary, extra reading.


What Levels of Decision Making are Involved?

Strategic (Corporate) Level Decisions

The focus at this level is the ability to achieve sustainable competitive advantage, this is the level at which long term objectives are developed and the strategies that will be selected (and later monitored) in order to achieve them. These types of decisions are made by the more senior people within the business e.g., directors, and often affect the whole organisation (or a substantial part of it). These are decisions which are developed to focus on the medium to long term (so a number of years rather than months) and can be very complex. Once these decisions are made, it is unlikely that changes are made in the short term.

Those making these decisions need to have the ability to consider the impacts of internal and external influences on the business, and thus be able to see how the strategy can be adjusted in order to take this in to account. Examples of these type of decisions could include:

  • Technological changes e.g., a move to automation of an assembly line or warehouse picking system.
  • Capacity.
  • Facilities – choice of location, changing the layout of a warehouse.
  • Investments/take overs.
  • New product development.

Tactical (Business) Level Decisions

The focus at this level is to ensure that the strategic level objectives are met, and how this is to be done. It focuses on how the strategies are going to be implemented, which can involve making adjustments. These decisions are usually made at the departmental area level and only have an impact on parts of the business rather than all of it. The timescale is medium term, there may be some uncertainty and can be semi-complex but less so than at the strategic level. Examples of these type of decisions could include:

  • Marketing and promotion – identifying where and when to advertise a product.
  • Maintenance programs.
  • Pricing adjustments.

Operational (Functional) Level Decisions

As the name suggests this is about the day-to-day decisions, therefore focusing on the shorter-term objectives (up to 1 year) which depend on strategy and tactics. There is much less complexity and a higher sense of certainty in terms of the outcome of decisions being made. This means that the decisions can be made at lower level or supervisory level. Examples of these type of decisions could include:

  • Quality specifications.
  • Targets for responding to customer queries.
  • Maintain staff training levels.

WHO MIGHT BENEFIT FROM STUDYING THIS COURSE

  • Anyone who wants an organisation to be more sustainable
  • Managers, CEO's Business Owners, Investors, Board members, Politicians
  • Anyone invested in the future of an organisation or enterprise
  • Teachers, academics, management students, journalists and writers