By Hassan
INTRODUCTION
To Strategic Management
Course Description
Strategic Management is a course designed to introduce students
to theWhat
concepts, tools, and frameworks used in formulating,
is HRM?
implementing, and evaluating business strategies.
The course covers a wide range of topics, including environmental
and industry analysis, strategic planning, governance, and the role of
information systems in strategy.
Students will learn to identify trends and changes in the business
environment, formulate
Role of HRM strategies, and evaluate their effectiveness.
in organizations
The course emphasizes practical application through case studies.
Learning outcomes
Describe the nature, scope, and meaning of Strategic Management in
What is HRM? in organizations
any organization.RM
Explain company mission, vision, policy, strategy, and objectives
clearly.RM in organizations
Perform environmental analysis and identify the company’s strengths
and weaknesses. RM in organizations
Demonstrate fundamental approaches to strategy formulation. RM in
organizations
Identify different types of strategies And Apply techniques of
strategic evaluation.RM in organizations
Definition
Strategic Management can be defined as a comprehensive
approach involving the formulation, implementation, and
continuous evaluation of strategies that guide an
organization towards its objectives.
It combines both art and science, requiring analytical skills,
creativity, and a deep understanding of the business
environment.
Scope of Strategic
Management:
Cross- Dynamic Long-term
functional Adjustment Focus
Integration
Importance of Strategic Management
Facilitates Informed
Decision-Making
Enables Proactive Adaptation
Aligns Resources and Actions
Enhances Organizational
Performance
Builds and Sustains Competitive
Advantage
Strategic Management Process
Strategy Strategy Strategy
Formulation Implementation Evaluation
Strategic Management Process
Definition and Purpose:
Strategy formulation involves the development
of the organization’s mission, vision, and long
Strategy
Formulation
term objectives, followed by crafting a
strategic plan to achieve these goals.
It sets the overall direction of the organization
and establishes a foundation for decision-
making.
Strategic Management Process
Key Steps in Strategy Formulation:
Vision Statement
Strategy
Formulation Mission Statement
Setting Objectives
Environmental Analysis
Crafting Strategy
Strategic Management Process
Definition and Purpose:
Strategy implementation is the process of
translating the formulated strategy into
Strategy
action.
Implementation
This stage focuses on putting the strategic
plan into operation by mobilizing resources,
structuring the organization, and guiding
employees towards achieving strategic
objectives.
Strategic Management Process
Key Aspects of Strategy Implementation:
Strategy
Resource Allocation
Implementation Organizational Structure
Leadership and Culture
Change Management
Strategic Management Process
Definition and Purpose:
Strategy evaluation is the final stage of the
Strategy strategic management process, where the
Evaluation
performance of the strategy is assessed to
ensure it meets the organization’s goals.
Evaluation helps in identifying what is working
well and where adjustments are needed.
Strategic Management Process
Key Steps in Strategy Evaluation:
Strategy
Performance Measurement
Evaluation
Review and Feedback
Corrective Actions
Vision, Mission, and Objectives
The vision statement is a compelling picture of the future that
provides direction and sets the aspirations of the organization. It is
intended to inspire employees and stakeholders, offering a clear
sense of where the organization is headed.
The mission statement articulates the organization’s fundamental
purpose and scope of operations. It defines the core business,
identifies the target audience, and outlines the organization’s
commitment to its stakeholders.
Objectives translate the mission and vision into actionable targets.
They provide a measurable framework for achieving strategic goals
and serve as benchmarks against which performance can be
evaluated. .
Levels of Strategy :
Corporate-level strategies are concerned with overall
organizational scope and direction.
Corporate strategies answer the question: “What business
should we be in?”
Business-level strategies focus on how an organization
competes within a specific market or industry.
Business strategies answer: “How do we compete?”
Functional strategies focus on specific areas within the
organization, such as marketing, finance, operations, and
human resources.
Challenges in Strategic
Management
Dynamic Environments
Limited Resource
Ethical and Social Responsibilities
Globalization
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