COURSE NAME COURSE CODE PREREQUISITE

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STRATEGIC MANAGEMENT BPMN 6023 NIL

1.0

SYNOPSIS Organizations are required to continuously find better ways to compete in the rapidly changing global business environment. Survival and competition have become imperative for organizations in the current global scenario. Whilst most leaders and managers will agree that a vision and mission is essential to the survival and success of modern-day organizations, strategic thinking and abilities to craft and execute the right strategies to remain competitive become increasingly essential. The course develops the strategic thinking and decision making abilities of students, especially in relation to understanding the use of various strategies in different situations.

2.0

OBJECTIVES Students are expected to: 2.1. Understand the strategic management process, which involves strategy formulation, execution, and evaluation. 2.2. Acquire knowledge about a company's present and long-term direction, its resources and competitive capabilities in the context of a business environment. 2.3. Develop awareness on current issues of todays business environment.

3.0

LEARNING OUTCOMES At the end of this course, students will be able to: 3.1. Demonstrate the link between business success and strategic management decisions through the strategic management process (C3, A3, P4). 3.2. Analyse a company's internal and external environment and identify longterm strategic direction, its resources and competitive capabilities for crafting an appropriate strategy (C4, A4, P5). 3.3. Evaluate a companys position in a variety of industries and competitive situations based on the five generic competitive strategies for better organizational performance (C6, A4, P4).

3.4.

Formulate a competitive strategy upon analyzing a companys resources and competitive position (C5, A4, P5).

3.5.

Appraise an organizational capabilities for good strategy execution, and build core competencies and competitive capabilities (C6, A4, P5).

3.6.

Critique the chosen strategy in terms of its effectiveness, and suitability competitiveness for a company to succeed in a challenging global business environment (C6, A5, P5).

4.0

REFERENCES Main Reference: Strategic Management: A Competitive Advantage Approach, Concepts (14th Edition) Fred R David Thompson, Jr. A. & Strickland, A. J. (2007). Crafting executive strategy: Text and cases (19th ed.). New York: McGraw-Hill. Hillman, H., Armugam, S.S., Cheng, W. H., Badruddin, A.R., Mustafa, Z. Shamir, S.A., Zainuddin, O. Khaw, Y.B., Kadzrina, A.K., Dzulhilmi, A.F. and Chong, Y. W. (2010).Crafting and Executing Strategy. Singapore:McGraw-Hill. Other References: Dess, G. (2007). Strategic management: Text and cases (4th ed.). Dallas: Mc-Graw Hill. Hashim, K. (2008). Strategic management,(2nd ed.). Kuala Lumpur: Thomson Learning. Hilman H.(2011). Pengurusan strategik (3rd. ed.). Kuala Lumpur: Mc-Graw Hill. Hitt, M. A., Ireland, R. D., & Hoskinsson, R. E. (2011). Strategic management, competitiveness and globalization: Concepts and cases (9th ed.). South Western: Thomson Corporation. Wheelen, T. & Hunger, J. D. (2010). Strategic management and business policy (12th ed.). New Jersey: Prentice Hall.

5.0

CONTENT
TOPIC 1. COURSE INTRODUCTION AND OVERVIEW 1.1. 1.2. 1.3. 1.4. 1.5. What is strategy and why is it important? Why companies strategy evolves over time. Identifying a companys strategy. The relationship between a companys strategy and its business model. Strategic management process five tasks

2. EVALUATING COMPANYS EXTERNAL ENVIRONMENT 2.1. 2.2. 2.3. 2.4. 2.5. 2.6. The industrys dominant economic features The competitive forces in the industry The driving forces for industry change and the impacts The components of a companys macro environment The market position do industry rivals occupy The strategic moves that rivals likely to make next

3. EVALUATING COMPANYS INTERNAL ENVIRONMENT 3.1. Good Corporate Governance 3.2. The effectiveness of the companys present strategy 3.3. The companys resource strengths and weaknesses and its external opportunities and threats (SWOT) 3.4. The concept a companys value chain 3.5. The competitive strength assessment of a company 4. CRAFTING AND EXECUTING STRATEGY 4.1. A companys strategy making process 4.2. Corporate strategy 4.3. Business strategy 4.4. Functional area strategy 4.5. Operating strategy 4.6. Developing a companys strategic plan 4.7. The strategy execution process 5. FIVE GENERIC COMPETITIVE STRATEGIES AND THE PREFERRED 5.1. The five distinct competitive strategy approaches 5.2. The contrasting features of the five generic competitive strategies 5.3. The justification of a preferred strategy within the five generic competitive strategies

6. COMPETITION IN FOREIGN AND GLOBAL ENVIRONMENT 6.1. 6.2. 6.3. 6.4. 6.5. Why companies expand into foreign markets Factors that shape strategy choices in foreign markets The concepts of multi country competition and global competition The quest for competitive advantage in foreign markets Strategies to compete in the market of emerging countries

7. TAILORING STRATEGY TO FIT SPECIFIC INDUSTRY AND COMPANY SITUATION 7.1. Business strategy choices for specific market situations 7.2. Strategy for competing in emerging industries 7.3. Strategy for competing in rapidly growing markets 7.4. Strategy for competing in slow growth and mature markets 7.5. Strategy for competing in stagnant or declining markets 7.6. Strategy for competing in turbulent, fast changing markets 7.7. Strategy for competing in fragmented industries 7.8. Strategy for competing in concentrated industries 7.9. Other strategic options 8. DIVERSIFICATION STRATEGIES 8.1. When to diversify? 8.2. Strategies for entering new businesses 8.3. Choosing the diversification path 8.4. Related vs. unrelated diversification strategy 8.5. Evaluating the strategy of a diversified company 9. ESSENTIAL ELEMENTS TO EXECUTE THE STRATEGY: LEADERSHIP, CORPORATE CULTURE AND RESOURCES 9.1. A framework for executing strategy 9.2. The managerial (8) components of the strategy execution process 9.3. Building an organization capable of good strategy execution 9.4. Strategic leadership 9.5. Corporate culture 9.6. Ethical, social responsibility and environmental sustainability 9.7. Marshalling resources behind good strategy execution 10. EVALUATION OF STRATEGY AND MAKING CORRECTIVE ADJUSTMENTS 10.1. 10.2. 10.3. Monitoring external development Evaluating the companys progress with the strategy Making corrective adjustment

6.0

TEACHING METHODS Lectures, case analysis, group discussion, individual & group presentation, and industry based research.