STRATEGIC MANAGEMENT AND LEADERSHIP (Note: New content will be developed to capture the new paper Leadership and Management. It had been developed as a common paper with CS but this has now been changed)
General objective
This paper is intended to equip the candidate with the knowledge, skills and attitudes that will enable him/her to formulate and implement innovative strategies for sustainable organisation’s competitive advantage
Learning Outcomes
A candidate who passes this paper should be able to:
- Analyze an organizations environment and formulate an actionable business strategy that is grounded in theory and practice from multiple business disciplines.
- Demonstrate an ability for critical and strategic thinking
- Develop and implement a strategic plan
- Understand the strategic decisions that organizations make in strategic management
- Effectively react to and incorporate emerging issues in strategic management.
Overview of Strategic Management and Leadership
- Defining strategy
- The purpose of strategic planning
- Characteristics of Strategy
- Advantages and disadvantages of strategic planning
- Strategy Approaches
- Strategic versus tactical decisions
- Leadership approaches and strategy
- Defining Leadership
- Leadership traits
- Leadership styles
- Leadership skills and developing leadership skills
- Creating a vision
- Handling conflict
- Ethics in leadership
- The role of leadership in strategic management
Strategy Levels and intent
- Corporate Strategy, Business strategy and Operational/ Functional strategy
- Vision statement
- Mission statement
- Strategic objectives
- Statement of corporate values
Strategic Management Process
- Patterns of Strategy development
- Steps in the strategic management process
- Strategic management in different contexts (small business, multinational companies, voluntary and nonprofit organizations, professional service organizations, public sector organizations)
- Uncertainty and Strategic Drift
- Limitations of Strategic Management
Strategic Analysis: The External Environment
- Environmental Analysis
- PESTEL analysis (Political, Economic, Social, Technological, Ecological, Legal)
- Key drivers for change
- Industry and Sector analysis
- Tools for external analysis
- Porter’s Five Forces Model,
- Product life cycle Analysis
- Directional Policy Matrices (BCG matrix, GE matrix, Shell matrix, Arthur D Little Strategic Condition Matrix)
- Competitor Analysis
- Industry types and dynamics
- Competitors and markets
- Opportunities and threats
- Stakeholders
- Stakeholder groups
- Stakeholder mapping
- Social Audits
- Owners
Strategic Analysis: The Internal Environment
- Distinctive resources and capabilities as a basis of competitive advantage
- VRIO- value of resources and capabilities, rarity, inimitability, organizational support
- Organizational knowledge as a basis of competitive advantage
- Diagnosing resources and capabilities
- The value chain and value system
- Activity systems
- Benchmarking
- Strengths and Weaknesses
- The Balanced Scorecard and Strategy map
- Critical success factor analysis
- Scenario planning
- Gap Analysis
- SWOT and the business model
- Organizational culture
- Importance of history
- Path dependency
- History as a resource
- Historical analysis
- Key features of corporate culture
- Health cultures that aid strategy execution
- Unhealthy cultures that impede strategy execution
- Influence of culture on strategy
- Undertaking cultural analysis
Business Strategy and Models
- Generic competitive strategies
- Cost leadership strategy
- Differentiation strategy
- Focus strategy
- Hybrid strategy
- The Strategy Clock
- Interactive strategies
- Interactive price and quality strategies
- Cooperative strategy
- Game theory
- Business models
- Value creation. configuration and capture
- Business model patterns
Corporate Strategy and Diversification
- Strategy directors
- Diversification and performance
- Vertical integration
- Value creation and corporate parent
- Portfolio matrices
- The BCG (growth/share) matrix
- The directional policy (GE- McKinsey) matrix
- PIMS (Profit Impact on Marketing Strategy
- Parenting matrix
International Strategy
- Internationalization drivers
- International business environment and challenges
- Geographical sources of advantage
- Locational advantage: Porter’s Diamond
- The international value system
- International strategies
- Market selection and strategy
- Internationalization and performance
Strategy Development Processes
- Strategic Thinking
- The paradox of logic and creativity
- The art and science of strategic thinking
- The “Deep Dive” analogy: acumen, allocation of resources and action
- Strategy Formation
- Deliberate strategy developers
- Emergent strategy developers
- Logical incrementalism
- Strategy as an outcome of political processes
- Implications for managing strategy development
- Strategy development in different countries
- Managing deliberate and emergent strategy
Matching Organizational Structure to Strategy
- Value chain activities to be performed Internally
- Value chain activities to be outsourced
- Aligning structure with strategy
- Organizational structure
- Simple structure
- Functional structure
- Divisional structure
- The Matrix structure
- Multinational structures
- Project-based structures
- Strategy and structure fit
- Delegation of authority
- Systems
- Planning system
- Performance targeting systems
- Configurations and adaptability
- The McKinsey 7-Ss
- Agility and resilience
- Collaboration with external parties and strategic allies (network structure)
Leadership and Strategic Change
- Strategic leadership vision and change
- Leadership and strategic change
- Strategic leadership roles
- Leadership styles
- Diagnosing the change context
- Types of strategic change
- Levers for strategic change
- Methods of introducing strategic change
- Problems of formal change programmes
The Practice of Strategy
- The strategists
- Top managers and directors
- Strategic planners
- Middle managers
- Strategy consultants
- Strategizing
- Strategy analysis
- Strategy issue-selling
- Strategic decision making
- Communicating the strategy
- Strategy methodologies
- Strategy workshops
- Strategy projects
- Hypothesis testing
- Business cases and strategic plans
- Strategy Implementation
- What is involved in strategy implementation
- Relationship between strategy formulation and implementation
- Plans Programs and budgets
- Steps for effective strategy implementation
- Resource allocation
Strategic Control
- Evaluation and Control in strategic management
- The strategic control process
- Monitoring evaluation and reporting
- Measuring corporate performance
- Strategic information systems
- Guidelines for proper control
- Sustaining Organizational effectiveness
Case Studies in Strategic Management and Leadership
References
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