Strategic Management CS Notes
KASNEB CS Advanced Level Notes
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UNIT DESCRIPTION
The aim of the paper is to strengthen the strategic thinking capability of the candidate in formulating and implementing a corporate strategy that can help organisations build a sustainable competitive advantage.
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CONTENT
- Overview of Strategic Management
1.1 Concept of strategy
1.2 Purpose of strategy
1.3 Characteristics of strategy
1.4 Advantages and disadvantages of strategic planning
1.5 Strategy approaches
1.6 Strategic versus tactical decisions
1.7 Patterns of strategy development - History of the Organisation and Culture
2.1 History of the Organisation
2.1.1 Importance of history
2.1.2 Path dependency
2.1.3 History as a resource
2.1.4 Historical analysis
2.1.5 Mission: stated and perceived
2.2 Organisational culture
2.2.1 Influence of culture on strategy
2.2.2 Undertaking cultural analysis
2.2.3 Hofstede’s Cultural Dimensions Theory - Strategy Levels and Intent
3.1 Corporate strategy
3.2 Business strategy
3.3 Operational strategy
3.4 Functional strategy
3.5 Vision statement
3.6 Mission statement
3.7 Strategic objectives
3.8 Statement of corporate values - Strategic Management Process
4.1 Steps in the strategic management process
4.2 Strategic management in different contexts
4.3 Uncertainty and strategic drift
4.4 Limitations of strategic management - Strategic Analysis: The External Environment
5.1 Policy and administrative framework
5.2 Political environment
5.3 Economic environment
5.4 Sociocultural environment
5.6 Technological environment
5.7 Ecological environment
5.8 Legal environment
5.9 Key drivers for change
5.10 Industry and sector analysis
5.11 Tools for external analysis
5.12 Competitor Analysis
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6. Strategic Analysis: The Internal Environment
6.1 Distinctive resources and capabilities as a basis of competitive advantage
6.2 VRIO- value of resources and capabilities, rarity, inimitability, organisational support
6.3 Organisational knowledge as a basis of competitive advantage
6.4 Diagnosing resources and capabilities
6.5 The value chain and value system
6.6 Activity systems
6.7 Benchmarking
6.8 Strengths and Weaknesses
6.9 The Balanced Scorecard and Strategy map
6.10 Critical success factor analysis
6.11 Scenario planning
6.12 Gap Analysis
6.13 SWOT and the business model
▪ Key features of corporate culture
▪ Health cultures that aid strategy execution
▪ Unhealthy cultures that impede strategy execution
▪ Influence of culture on strategy
▪ Undertaking cultural analysis
7. Business Strategy and Models
7.1 Generic competitive strategies
▪ Cost leadership strategy
▪ Differentiation strategy
▪ Focus strategy
▪ Hybrid strategy
▪ The Strategy Clock
7.2 Interactive strategies
▪ Interactive price and quality strategies
▪ Cooperative strategy
▪ Game theory
7.3 Business models
▪ Value creation. configuration and capture
▪ Business model patterns
8. Corporate Strategy and Diversification
8.1 Strategy directors
8.2 Diversification and performance
8.3 Vertical integration
8.4 Value creation and corporate parent
8.5 Portfolio matrices
▪ The BCG (growth/share) matrix
▪ The directional policy (GE- McKinsey) matrix
▪ PIMS (Profit Impact on Marketing Strategy
▪ Parenting matrix
▪ The Scenario/vision – building approach
9. International Strategy
9.1 Internationalisation drivers
9.2 International business environment and challenges
9.3 Geographical sources of advantage
▪ Locational advantage: Porter’s Diamond
▪ The international value system
▪ International strategies
▪ Market selection and strategy
▪ Internationalisation and performance
10. Strategy Development Processes
10.1 Strategic thinking
▪ The paradox of logic and creativity
▪ The art and science of strategic thinking
▪ The “Deep Dive” analogy: acumen, allocation of resources and action
10.2 Strategy formation
▪ Deliberate strategy developers
▪ Emergent strategy developers
▪ Logical incrementalism
▪ Strategy as an outcome of political processes
10.3 Implications for managing strategy development
▪ Strategy development in different contexts
▪ Managing deliberate and emergent strategies
11.Matching Organisational Structure to Strategy
11.1 Value chain activities to be performed internally
11.2 Value chain activities to be outsourced
11.3 Aligning structure with strategy
11.4 Organisational structure
▪ Simple structure
▪ Functional structure
▪ Divisional structure
▪ Matrix structure
▪ Multinational structures
▪ Project-based structures
▪ Strategy and structure fit
11.5 Delegation of authority
11.6 Systems
▪ Planning system
▪ Performance targeting systems
11.7 Configurations and adaptability
▪ The McKinsey 7-Ss
▪ Agility and resilience
11.8 Collaboration with external parties and strategic allies (network structure)
12. Leadership and Strategic Change
12.1 Strategic Leadership vision and change
12.2 Theories of leadership and change
12.3 Types of strategic change
12.4 Levers for strategic change
12.5 Methods of introducing strategic change
12.6 Strategic leadership roles and effectiveness
12.7 Strategic change: revolution versus evolution
12.8 Diagnosing the change context
12.9 Managing major changes
12.10 Problems of formal change programmes
12.11 Managing corporate politics
12.12 Managing complexity
12.13 Leadership in practice
13. The Practice of Strategy
13.1 The strategists
▪ Top managers and directors
▪ Strategic planners
▪ Middle managers
▪ Strategy consultants
13.2 Strategising
▪ Strategy analysis
▪ Strategy issue-selling
▪ Strategic decision making
▪ Communicating the strategy
13.3 Strategy methodologies
▪ Strategy workshops
▪ Strategy projects
▪ Hypothesis testing
▪ Business cases and strategic plans
13.4 Strategy Implementation
▪ Relationship between strategy formulation and implementation
▪ Plans Programs and budgets
▪ Steps for effective strategy implementation
▪ Resource allocation
14 Strategic Control
14.1 Evaluation and control in strategic management
14.2 The strategic control process
14.3 Monitoring evaluation and reporting
14.4 Measuring corporate performance
14.5 Strategic information systems
14.6 Strategic surveillance
14.7 Guidelines for proper control
14.8 Balance Scorecard as a tool for control
14.9 Sustaining organisational effectiveness