Business Policy and Strategic Management
Introduction: Business policy-evolution of the concept. Difference between business policy and strategic management. Corporate governance- concept, issues, models, evolution and significance. Introduction to Strategic Management-Concept importance of strategic Management, Strategy & Competitive Advantage, Strategy Planning & Decisions, strategic Management Process.
Top management perspective: Establishing company direction-developing strategic vision, setting objectives and crafting a strategy-Internal & External Environment, Formulating Long Term objective & Strategy, Strategic Analysis & Choice.
Analyzing business environment: Analysis of Business environment at 3 levels-Macro external environment analysis, external environment analysis (Industry analysis and competitor analysis) porter’s five forces and competitor analysis framework, and firm level internal analysis.
Identifying alternative strategies: Grand strategies: stability, growth, retrenchment & combination strategies.
Competitive strategy and competitive advantage: Industry and competitive analysis, strategy and competitive advantage, Principles of Competitive Advantage-Identifying Value Activities, Competitive Scope and the Value Chain, the Value Chain and Generic Strategies, Mergers & Acquisitions Strategies.