Strategic Management

Description

As businesses and organizations become more volatile, uncertain, complex, and ambiguous, the ability to define a well thought yet agile strategic plan is a must for any organization to achieve its vision, mission, and objectives. Strategic Management is a two-day course gives the participant a comprehensive look at strategic management as he/she goes through the various tasks involved in developing and maintaining a strategic management plan. This course is designed as a combination of lectures, activities, games, and discussions using the CASE method of learning – a teaching method used in the top business schools in the world.

At the end of this course, the participant should be able to:

• Describe what is strategic management including its nature and benefits
• Identify various drivers and motivators of strategic management
• Identify similarities and differences of the various strategic management models
• Perform environmental scanning using PESTEL, SWOT, and the VUCA framework
• Describe the elements and importance of the Vision and Mission statement
• Describe what comprises good strategic objectives
• Describe various corporate level and competitive strategies
• Describe how to implement and execute strategies
• Describe how to monitor and evaluate the performance of strategic management initiatives

Course Outline for Strategic Management

• The Evolution
  • The nature
  • Benefits
  • Strategic Types
• Drivers and Motivators
  • The Dynamic Nature of the Market and the Business
  • The Triggering Events
  • Theory of the Firm
  • Technology and Innovation
  • The Product Life Cycle
  • Experience Curve
  • Economies of Scale
  • Best Operating Level
• Strategic Management Models
  • Wright, Kroll, and Parnell Model
  • Thomson and Strickland Model
  • R. David Model
  • Wheelen and Hunger Model
  • Rayport and Jaworksi Model
  • Pitts-Lei Model
  • The Hybrid Model (Orcullo Model)
  • Strategic Plan – The output of strategic management models
  • Short, Medium, and Long-Term Plans
• Task 1 – Environmental Scanning
  • PESTEL Analysis
  • SWOT Analysis
  • Porter’s Five Forces Analysis
  • VUCA Analysis
• Task 2 – The Vision and Mission Statement
  • The Need for a Vision-Mission Statement
  • Vision vs. Mission Statement
  • Elements of a Mission Statement
  • Elements of a Vision Statement
  • Examples of Vision-Mission Statements
• Task 3 – Setting Strategic Objectives
  • The Need for Strategic Objectives
  • The Nature of setting Strategic Objectives
  • Strategic Intent vs. Strategic Thrust
  • Characteristics of Strategic Objectives
  • What is considered a good strategic objective
• Task 4 – Crafting Strategies
  • Factors to consider in crafting strategies
  • Corporate Level Strategies
  • Competitive Strategies
• Task 5 – Implementing and Executing Strategies
  • The Challenge of Implementing and Executing Strategies
  • Goals of Strategy Execution
  • Components of Strategy Execution
  • Determinants to successful Implementation of strategy
  • Implementing and Executing strategy
  • Who should be involved in implementing strategy
  • Ways to lead the implementation and execution process
  • Role of Policies in Aid of Strategy Execution
• Task 6 – Monitoring, Evaluating, and taking corrective actions
  • The Need to Monitor
  • Use of Charts and Milestone Indicators
  • Considerations in Reporting Monitoring Activities
  • Strategy Audit
  • Balanced Scorecard as an Evaluation Tool
  • Evaluating Top Management
  • Some Key Indicators
  • Considerations for Financial Ratios
    • Liquidity Ratios
    • Profitability Ratios
    • Activity Ratios
    • Leverage Ratios
    • Other Ratios
  • Taking corrective actions

Who should attend

• Company Executives
• C Level professionals
• Senior Management engaged in Strategic Management
• Managers who would like to have a fundamental knowledge on Strategic Management

Course Fee is inclusive of AM/PM snacks, lunch, access to the xworks learning management system, digital course materials, and course certificates.

Training Schedules

https://crossworks.ph/event/strategic-management-batch-191/

https://crossworks.ph/event/strategic-management-batch-192/