IENT2011 - STRATEGIC MANAGEMENT

Course Description:

Any change that a business plans to implement has a strategy. The key to any successful strategy is
the thoroughness of its formulation and implementation. Managers as leaders need to make
strategic decisions on sound judgement. It is imperative that every management student should be
exposed to basic methodology of strategic management and the steps taken for rolling out an
effective strategy.

Course Educational Objectives:

This course intends the student to

a) Demonstrate the ability to think critically in relation to a particular problem/situation through

real-world scenarios.

b) Analyse the main structural features of an industry and develop strategies that position the firm
most favourably in relation to the competition.

c) Realize the nature and dynamics of the strategy formulation and implementation processes as
they occur in complex organizations.

d) Explain how the evaluation and control of the strategies are crucial in accomplishing the intended
results.

UNIT 1 Basic concepts of Strategic Management 7 hours

Strategy – Evolution of Strategic Management – Meaning and Scope of Strategic Management –

Need and Benefits of Strategic Management – Characteristics of Strategic Decisions – Strategic
Management Process – Prescriptive and Emergent Approaches to Strategy Making – Challenges for
Strategic Management – Growing Relevance of Strategic Management in India.

UNIT 2 Strategic Direction & Strategic Analysis 11 hours

Mission, Vision and Objectives – Environmental Analysis: Social and Cultural, Techno-logical,
Economic, Political Environment – Industry Analysis: Market Environment, Customer, Demographic
Factors, Geographic Factors, Competitor Analysis – Porter’s Five Forces Model, Organization
Analysis: Resources, Capabilities, Core Competencies and SWOT analysis.

UNIT 3

Strategy formulation & Choice

8 hours

TOWS Matrix – BCG Matrix – Corporate Level Strategies: Stability, Growth, and Retrenchment
Strategies – Business Strategies: Cost Leadership, Differentiation and Focus Strategies – Functional
Strategies.

UNIT 4

Strategy Implementation

4 hours
Steps in Strategy Implementation – Role of Leadership in Implementation – 7S Framework for
Successful Strategy Implementation.

UNIT 5

Strategy Evaluation and Control

6 hours

Strategy Evaluation and Control Process – Essential Features of an Effective Evaluation and Control
System – Types of Strategic Control.

Text Books:

1. Francis Cherunilam. “Strategic Management”, Himalaya Publishing House Pvt. Ltd., Mumbai, 2016.

2. P. Subba Rao. “Business Policy and Strategic Management”, Himalaya Publishing House Pvt. Ltd.,
Mumbai, 2016.

References:

Thomas L. Wheelan, J. David Hunger, Alan N. Hoffman and Charles E. Bamford "Concepts in Strategic
Management and Business Policy", Pearson Education Limited, New Delhi, 2018.

Course Outcomes:

1. Present the concepts of strategic management, its evolution, approaches, and challenges

2. Describe the tasks of strategic direction and diagnose the general environment, industry trends,
and internal competitive strengths and weaknesses of an organization

3. Develop strategies at various levels using a variety of tools.

4. Explain the various issues involved in the successful implementation of the selected strategy

5. Discuss the process of evaluating and controlling the chosen strategies for achieving the desired
results