Strategic management involves two processes: first, the process of identifying specific goals for a firm and designing strategies to achieve those goals, and second, the process of implementing those strategies. It is easy to say that your goal is to increase sales by 50% in three years, but how do you achieve that goal? Are you going to lower prices, acquire a competitor, move into other businesses, or something else? Assuming you are going to lower prices, how will you do so and keep profits up? These are the sorts of questions that strategists must answer.
This course begins with an introduction to the field and defines some important terms and concepts. You will then identify goals and formulate strategies before addressing implementation. This course concludes with strategies for the 21st century.
This course includes the following units:
- Unit 1: Introduction to Strategy
- Unit 2: Strategic Planning
- Unit 3: Creating Competitive Advantage
- Unit 4: Corporate Strategy
- Unit 5: 21st-Century Strategy