Introduce students to the conceptual framework and analytical tools of strategic management to identify key drivers of organizational performance. Explain how to formulate, implement and monitor strategies in a changing business environment. Provide the understanding of the basic concepts of strategic management: environment monitoring, strategy formulation, strategy implementation and strategic control.
Expected learning outcomes
Having successfully completed the course, the students will be able to:
Explain the basic terms and fundamental concepts of strategic management.
Interpret the role of corporate governance and the importance of managerial ethics in the organization.
Synthesize key factors of the external environment (PESTEL, industry, competition, opportunities and threats) and internal environment (management, resources, structure, culture, strengths and weaknesses) of the companies as well as their impact on development and implementation of the strategies.
Evaluate the mission and vision of the company which are led by company values, and short-term and long term objectives.
Apply situational (SWOT) analysis for generating, valuation and selection of the optimal strategies.
Create and integrate action plans in a practical framework for the formulation and implementation of strategies.
Monitor (control and undertake corrective action) action plans implementation for carrying out the chosen strategy.
Describe challenges of international strategic management and the influence of information technology on strategic management.