Business Policy and Strategy

Nature & importance of business policy & strategy: Introduction to the strategic management process, Level of Strategy- corporate, business & functional level strategic management decisions.
Company’s vision and mission: need for a mission statement, criteria for evaluating a mission statement

Environmental Analysis & Diagnosis: Analysis of company’s external
environment Environmental impact on organisations policy and strategy, analysis of remote environment, analysis of specific environment- Michael E. Porter’s 5 Forces model; Internal analysis: Organisation’s capabilities, Michael E. Porter’s Value Chain Analysis.

Formulation of competitive strategies: Michael E. Porter’s generic competitive strategies, implementing competitive strategies- offensive & defensive moves, Core Competence
Formulating Corporate Strategies: Introduction to strategies of growth, stability and renewal, Types of growth strategies – concentrated growth, product development, integration, diversification, international expansion (multi domestic approach, franchising, licensing and joint ventures), Types of renewal strategies – retrenchment and turnaround. Strategic fundamentals of merger & acquisitions.

Strategic Framework: Strategic Analysis & choice, Strategic gap analyses, portfolio analysis – BCG, GE, Ansoff’s product market evolution matrix; Behavioural considerations affecting choice of strategy; Functional strategies & their link with business level strategies, Key Issues and Aspects of Strategic Implementation

Introduction to Strategic control & evaluation, Strategic Control Process: Types of Control: Strategic surveillance. Feed Forward Control, Concurrent Control, Feedback Control