Strategic Management and Business Environment
Course Title: Strategic Management and Business Environment
Course No: MGT 505
Nature of the course: Core
Duration of the course: 100 lecture hours
Duration of the class: 60 minutes
Course Content
Group “A”- Strategic Management
Unit 1: Introduction to Strategic Management
Evolution of stratetgic management, Characteristics of Strategic Decision, Mintzberg’s Modes of strategic decision making. Components of strategic management: Strategic planning, strategy implementation and strategic control.
Importance of strategic Management in Nepal, strategic plan: mission, objectives, strategies. Levels of objectives and strategies. Role of chief executive officer (CEO) in strategic management
Unit 2: External Environment Analysis
Nature of environment: Remote and operating environment. Process of environment scanning. Techniques of environment analysis: PESTEL analysis (political, economic, socio-cultural, technological, environmental, and legal analysis). Scenario Planning, Porter’s five forces model, Environmental threat and opportunity profile (ETOP).
Unit 3: Internal Environmental Analysis
Corporate resource analysis for strength and weakness: marketing, human resource, production/operation, finance and accounting. Process of corporate appraisal: Concept of available resource, threshold resources, unique resources, core competencies and strategic advantage. Technique of internal analysis: value chain analysis (cost efficiency, product features), comparative analysis, historical comparison, industry standard, benchmarking robustness, strategic advantage profile (SAP)
Unit 4: Strategic Options
Generating alternative strategies using SWOT analysis (Strength, weakness, opportunities, threats). Corporate strategies; stability, growth (related and unrelated diversification), retrenchment. Business strategies: Porter’s competitive strategy: strategy clock (low price, differentiation, hybrid, focused differentitation, and failure strategies. Sustaining competitive advantage. Cooperative and collaborative strategies. Directions for strategy development: consolidation, market penetration, product development, market development and diversification. Methods of strategy development: internal development, mergers and acquisition, joint development and strategic alliance.
