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Strategic Planning Lecture 1

The course on Business Strategy Planning covers strategic management concepts, including definitions, key terms, and models over 17 weeks. It includes topics such as business ethics, external and internal assessments, strategy formulation, implementation, and evaluation, along with assignments and quizzes. The course aims to provide a comprehensive understanding of strategic management and its application in real-world scenarios.

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13 views24 pages

Strategic Planning Lecture 1

The course on Business Strategy Planning covers strategic management concepts, including definitions, key terms, and models over 17 weeks. It includes topics such as business ethics, external and internal assessments, strategy formulation, implementation, and evaluation, along with assignments and quizzes. The course aims to provide a comprehensive understanding of strategic management and its application in real-world scenarios.

Uploaded by

abdullahbaloch.x0
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Introduction to Course

Business Strategy Planning


Week 1:- Introduction to Strategic Management -Definition, key terms, strategic
management model, benefits

Week 2:- Business Ethics, Social Responsibility and Environmental Sustainability


Code of business ethics, ethics culture, social policy, sustainability and
green behavior
Week 3:- The Business Vision and Mission -Importance of vision and mission statements,
writing and evaluating these statements + ASSIGNMENT 1

Week 4:- External Assessment -Industrial organization view, PESTEL, Porter’s five forces
model + QUIZ 1

Week 5:- External Assessment -Sources of external information, EFE matrix, CPM

Week 6:- Internal Assessment - Resource based view, culture and strategy, Management
Functions overview + ASSIGNMENT 2

Week 7:- Internal Assessment -IFE matrix, VCA + QUIZ 2

Week 8:- Strategies in Action - Long term objectives, Generic strategies, Strategic management
in nonprofit and government organizations
WEEK 9:- MID TERM
Week 10:- Strategy Analysis and Choice - Input stage, Matching stage (SWOT, SPACE, BCG,
IE) - Decision stage (QSPM)

Week 11:- Strategy Analysis and Choice - Input stage, Matching stage (SWOT, SPACE, BCG,
IE) - Decision stage (QSPM) + Assignment 3

Week 12:- Implementing Strategies - Objectives, policies, resource allocation, managing


conflict + QUIZ 3

Week 13:- Strategy Review, Evaluation and Control - Rumelt’s criteria for strategy evaluation,
strategy evaluation framework

Week 14:- International/global issues in strategic management + Assignment 4

Week 15:- Revision and Project Presentation + QUIZ 4

Week 16:- Presentation


Week 17:- FINAL TERM
Introduction to Strategic Management
Definition, key terms, strategic management model, benefits
Definition of Strategic Management
• Strategic Management is the process of
determining an organization’s long-term goals
and then identifying the best approach for
achieving those goals.
Key Terms - Strategy
• A strategy is a plan of action designed to
achieve long-term goals and gain competitive
advantage.
Key Terms - Strategic Planning
• Strategic Planning is a systematic process of
envisioning a desired future and translating
this vision into broadly defined goals or
objectives.
Key Terms - Competitive Advantage
• Competitive Advantage refers to anything that
a firm does especially well compared to rival
firms.
Key Terms - Vision and Mission
• Vision: Future-oriented declaration of purpose
• Mission: What an organization is and why it
exists
Examples of Vision and Mission Statements
🔹 Google
• • Vision: To provide access to the world’s information in one click.
• • Mission: To organize the world’s information and make it universally
accessible and useful.

🔹 Tesla
• • Vision: To create the most compelling car company of the 21st century by
driving the world’s transition to electric vehicles.
• • Mission: To accelerate the world’s transition to sustainable energy.

🔹 Amazon
• • Vision: To be Earth’s most customer-centric company.
• • Mission: To continually raise the bar of the customer experience by using the
internet and technology to help consumers find, discover, and buy anything.
Stages of Strategic Management
• 1. Strategy Formulation
• 2. Strategy Implementation
• 3. Strategy Evaluation
Strategy Formulation
• Includes developing vision and mission,
identifying external opportunities and threats,
determining internal strengths and
weaknesses, and establishing long-term
objectives.
Strategy Implementation
• Requires a firm to establish annual objectives,
devise policies, motivate employees, and
allocate resources.
Strategy Evaluation
• Includes reviewing external and internal
factors, measuring performance, and taking
corrective actions.
Strategic Management Model (Text)
• Model includes:
1) Environmental Scanning
2) Strategy Formulation
3) Strategy Implementation
4) Evaluation and Control
Strategic Management Model (Diagram)
Strategic Management Model (Diagram)
Characteristics of Strategic Decisions
• - Long-term direction
• - Scope of activities
• - Competitive advantage
• - Strategic fit
Benefits of Strategic Management - 1
• - Clear sense of strategic vision
• - Sharper focus on goals and objectives
Benefits of Strategic Management - 2
• - Improved understanding of external
environment
• - Enhanced coordination and control of
activities
Benefits of Strategic Management - 3
• - Better performance
• - Alignment of objectives across departments
Examples of Strategic Decisions
• - Entry into a new market
• - Mergers and acquisitions
• - Product innovation strategies
Real-World Strategic Practices
• - Apple’s focus on innovation
• - Amazon’s supply chain strategy
• - Tesla’s vision-driven approach
References
• Strategic Management Concepts & Cases: A
Competitive Advantage Approach by Fred R. David
& Forest R. David, 16th Edition, Published by
Pearson Education Limited.

• Strategic Management and Business Policy:


Globalization, Innovation and Sustainability by
Thomas L. Wheelen, J. David Hunger, Alan N.
Hoffman & Charles E. Bamford, 15th Edition,
Published by Pearson Education Limited.

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