Strategic Management I

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MGT 111.3
BBA, Fourth Year, Seventh Semester

Course Objectives:

This course aims to introduce the students to the fundamental concepts of strategic management. The course also aims to develop skills in students to develop a mission statement, perform an external audit, conduct an internal assessment, and formulate strategies through cases and experiential exercises.

Course Contents:

1. Strategic management                                                                                 7 hours

Definition: Dimensions of strategic decisions, Levels of strategy, Characteristics of strategic management decisions, Formality in strategic management, Value of strategic management, Role of chief executives in strategic management.

2.   External environmental analysis and forecasting                                         5 hours               

      Components of remote environment: economic, social, political, legal (legislation and regulations), technological (PEST analysis), Linking strategy with ethics and social responsibility.

3.  Establishing company direction                                                                  6 hours

      Developing business mission and strategic vision. Communicating the strategic vision. Setting performance objectives. Strategic objectives versus financial objectives. Strategic intent. Strategy making pyramid: Corporate strategy, Business strategy, Functional strategy and operational strategy. Uniting the strategy making effort.

4.  Industry and competitive analysis                                                               6 hours

Methods of industry and competitive analysis, Five forces of competition, Driving forces, Environmental scanning techniques, Strategic group maps, Monitoring competition, Key factors for competitive success evaluating

5.   Evaluating company resources and competitive capabilities                        8 hours

      Strengths and resources capabilities, Weakness and resource deficiencies, Competencies and capabilities, Market opportunities, Threats to future profitability, Strategic cost analysis and value chains, Benchmarking, Competitive capabilities to competitive advantage

5.   Strategic options                                                                                         10 hours

      Generic strategies: Low cost provider strategy, Differentiation strategy, Best-cost provider strategy, focused strategy. Grand Strategies: Concentration, Market development, Product development, Innovation, Horizontal integration, Vertical integration, Joint Venture, Concentric diversification, Conglomerate diversification, Retrenchment/turnaround, Diverstiture, Liquidation.

6.  Strategic analysis and choice                                                                       6 hours

      Evaluating and choosing strategies, Industry environment and strategy choices, Evaluating and choosing to diversity

     

Text Books

1.       Pearce, John A. and Robinson, Richard B: Strategic Management, AITBS, Delhi.

2.       Thomson, Arthur A. and Stickland III, Strategic Management, Tata Mcgraw-Hill, New Delhi

Reference Books:

        1.     Agrawal, G.R: Business Strategy & Strategic Management in Nepal, M.K. Publisher Kathmandu