Strategic Management

Transcription

1 Strategic Management Course Title: Strategic Management Number of Credits: 3 Credits Number of Hour: 48 Hours Pre-requisites: Financial Mgt., Human Resource Mgt, Marketing Mgt., and Operation Mgt. Lecturer: Mr. Nhek Sokun, Senior Lecturer of Management nheksokun@yahoo.com Phone:

2 Strategic Management Course Description: Strategic management is an integrative capstone course the only course that challenges students to study and experience sets of multifunctional problems that confront top management. Course Objectives: Upon completion of this course, you should be able to: Define strategic management. Identify and describe the steps management must take to effectively design and implement organizational strategies. Evaluate the degree to which a properly formulated and implemented strategy will provide a firm with a sustainable competitive advantage. 2

3 Strategic Management Student Evaluation: (1) Participation 10% (2) Quiz, Mid Term 30% (3) Final Exam 60% (a) Assignment 20% (b) Writing Test 40% 3

4 Strategic Management Course Outline: Chapter 1: Nature Of Strategic Mgt. Chapter 2: Value, Vision & Mission Chapter 3: External Assessment Chapter 4: Internal Assessment Chapter 5: Levels of Strategy Chapter 6: Strategy Analysis & Choice Chapter 7: Strategy Implementation and Evaluation 4

5 Strategic Management Reference Books: 1. Fred David ( 2005) Strategic Management 10 th Edition, Prentice Hall. 2. Wheelen Hunger (2004), Strategic Management & Business Policy, 4 th Edition, McGraw Hill. 3. Pearce & Robinson (2005), Strategic Management, 9 th Edition, McGraw Hill. 5

6 Chapter 1 The Nature of Strategic Management 6

7 Strategic Management Defined The process for formulating, implementing, and evaluating, crossfunctional decisions that enable an organization to achieve its objectives. 7

8 Strategic-Mgt. Process Three Stages Strategy Formulation Strategy Implementation Strategy Evaluation 8

9 Strategy Formulation The development of long-range plans for the effective management of environmental opportunities and threats, in light of corporate strengths and weaknesses. It includes defining the corporate mission, specifying achievable objectives, developing strategies, and setting policy guidelines. 9

10 Strategy Implementation The process by which strategies and policies are put into action through the development of program, budgets, and procedures. This process might involve changes within the overall culture, structure, and/or management system of the entire organization.. 10

11 Strategy Evaluation The process in which corporate activities and performance result are monitored so that actual performance can be compare with desired performance. Managers at all levels use the resulting information to take corrective action and resolve problem. 11

12 Roles of Board of Directors The Board represents the interest of the Stockholders (owner) of the company The Role of the Board is to review and approve strategic plans prepared by the CEO and other senior managers of the Corporation. Traditionally, Board of Directors have not been directly involved in the strategic management process, though this is changing as Boards are now taking a more active role with regards to strategic management. 12

13 Who perform strategic management Large Corporations : The Chief Executive Officer (CEO) Vice President : (Ex: Production, Marketing...) General Managers of Divisions Small Business : The Owner Entrepreneur Non-Government Organizations (NGO's) : Home Office/ Country Coordinators / Representatives Senior Coordinators of Programs, Administration and Finance, etc. 13

14 Benefits of Strategic Management Strategic management provides a clear direction for the Organization, its managers and staff. Managers who have good strategic management skills are often more alert to environmental changes including potential threats and new business opportunities Strategic management encourages a more Proactive, as opposite to Reactive, management position. Strategic management promotes efficient use of organizational resources. Finally, given the rapidly changing business environment, good strategic management skills are essential for the long-term survival of the organization 14