Institute of Commercial Management | Qualification Subject

Strategic Management

Main Topics of Study

Nature of Strategic Management

  • Definitions
  • Stages of strategic management
  • Key terms in strategic management
  • Strategic management model
  • Benefits of strategic management
  • Business ethics and strategic management
  • Business and military strategy

Strategies in Action

  • Types of strategies
  • Integration strategies
  • Intensive strategies
  • Diversification strategies
  • Defensive strategies
  • Guidelines for pursuing strategies
  • Mergers and leveraged buyouts
  • Generic strategies
  • Strategic management in governmental organisations
  • Strategic management in small firms

Business Mission

  • Importance of a clear mission
  • Nature of a business mission
  • Components of a mission statement
  • Writing and evaluating mission statements

External Assessment

  • Nature of an external audit
  • Economic forces
  • Social, cultural, demographic and environmental forces
  • Political, governmental and legal forces
  • Technological forces
  • Competitive forces
  • Sources of external information
  • Forecasting tools and techniques
  • Competitive analysis
  • Industry analysis

Internal Assessment

  • Nature of an internal audit
  • Relationships among functional areas
  • Management
  • Marketing
  • Finance
  • Productions/operations
  • R&D
  • Computer information systems
  • Internal audit checks
  • Internal factor evaluation matrix

Strategy Analysis and Choice

  • Nature of strategy analysis and choice
  • Long term objectives
  • Comprehensive strategy formulation framework
  • Input stage
  • Matching stage
  • Decision stage
  • Cultural aspects of strategy choice
  • Politics of strategy choice
  • Role of board of directors

Strategy Implementation, Management Issues

  • Nature of strategy implementation
  • Annual objectives
  • Policies
  • Resource allocation
  • Managing conflict
  • Matching structure with strategy
  • Restructuring and reengineering
  • Linking performance and pay to strategies
  • Managing resistance to change
  • Managing the natural environment
  • Creating a strategy-supportive culture
  • Production/operations concerns when implementing strategies
  • Human resource concerns when implementing strategies

Implementing Strategies, Other Issues

  • Nature of strategy implementation
  • Marketing issues
  • Finance issues
  • R&D issues
  • Computing information systems issues

Strategy Review, Evaluation and Control

  • Nature of strategy evaluation
  • Strategy evaluation framework
  • Published sources of strategy evaluation information
  • Characteristics of an effective evaluation system
  • Contingency planning
  • Auditing
  • Using computers to evaluate strategies
  • Guidelines for effective strategic management

Recommended Reading

Main Text:

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Strategic Management: Concepts & Cases – Fred R David (Prentice Hall)

Indicative Text:

Alternative Text and Further Reading:

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Exploring Corporate Strategy – Gerry Johnson & Kevin Scholes (Prentice Hall)