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Planning and Managing Business Strategy: Strategic Management Fundamentals

Audience

Managers, prospective managers, and anyone else within an organization involved in making business decisions

Prerequisites

None

Course Aim

To provide the learner with an understanding of the corporate financial management techniques that can be used to improve an organization's financial performance

Learning Objectives

Identify the five tasks of strategic management. Recognize the importance of vision and mission statements. Explain the process of strategic management. Define industry analysis. List the standard factors used to profile an industry's economic traits. Explain how the competition can be assessed. Recognize the concept and importance of driving forces. Identify the effect that operating in emerging and high-velocity industries has on strategy. Explain how the maturing, declining, and fragmenting phases of an industry affect strategy decisions. Explain how budgets are linked to strategy. Explain how to implement strategy-supportive procedures and policies. Explain how reward systems can complement company strategy. Participate in a real-life case study involving strategy making at Ben and Jerry's Homemade, Inc..

Topics Covered

Strategic Management: An Overview - Five tasks of strategic management - Hands-on: Developing a strategy - The process of strategic management Industry Analysis - What is industry analysis? - Identifying the dominant economic features - Assessing the competition - What are the industry's drivers of change? Matching the Situation - Emerging and high-velocity industries - Maturing, declining, and fragmenting industries - Hands-on: Identifying the best strategy Implementing Strategy - A strategy framework - Hands-on: Shaping organizational design - Leading the implementation process Case Study: Ben & Jerry's Homemade, Inc. - Ben & Jerry: Beginnings - External factors - Internal concerns - Hands-on: Selecting a strategy