Business Policy and Strategy

Nature & importance of business policy & strategy: Introduction to the strategic management process and related concepts; Characteristics of corporate, business & functional level strategic management decisions.
Company’s vision and mission: need for a mission statement, criteria for evaluating a mission statement- Goal, Process & Input formulation of the mission statement-Drucker’s Performance Area, Bennis’s Core Problem; formulation of mission statement.

Environmental Analysis & Diagnosis: Analysis of company’s external
environment Environmental impact on organisations policy and strategy, organizations dependence on the environment, analysis of remote environment, analysis of specific environment- Michael E. Porter’s 5 Forces model; Internal analysis: Importance of organisation’s capabilities, competitive advantage and core competence, Michael E.
Porter’s Value Chain Analysis.
Environmental Analysis & Diagnosis: Analysis of company’s external
environment Environmental impact on organisations policy and strategy, organizations dependence on the environment, analysis of remote environment, analysis of specific environment- Michael E. Porter’s 5 Forces model; Internal analysis: Importance of organisation’s capabilities, competitive advantage and core competence, Michael E.
Porter’s Value Chain Analysis.

Formulation of competitive strategies: Michael E. Porter’s generic competitive strategies, implementing competitive strategies- offensive & defensive moves.
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 analyses – BCG, GE, product market evolution matrix, experience curve, directional policy matrix, life cycle portfolio matrix, grand strategy selection matrix; Behavioural considerations affecting choice of strategy; Culture and Strategic Leadership: Implementing & operationalizing strategic choice, Impact of structure,
culture & leadership, functional strategies & their link with business level strategies, Balanced Score Card

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