An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. What is strategic management definition and features. The strategic management of projects1 expands this general concept to include aligning the direction of the organisations overall project delivery capability to the achievement of its strategic objectives. Strategic management tutorial in pdf tutorialspoint. Strategic management notes pdf, book, paper mba 2020. In other words, strategic management can be seen as a combination. Download strategic management study materials 2020. The art of strategic management remained primarily associated with the military history. The management of projects describes the organisations ability to select, nurture and deliver projects and programs effectively.
Our website exams time has come up with the best materials for the main concepts of strategic analysis, businesslevel strategy. Please note that a strategic marketing management plan is a writ ten document, not just an idea. Therefore, given to these questions, the importance of strategic management should be further investigated. Strategic management study materials 2020 download study. Strategic management full notes linkedin slideshare. The importance of the strategic management process in the.
Ltasks of strategic management lstrategic management is an ongoing process lwho performs the tasks of strategy lbenefits of managing strategically strategic management the art and science of formulating, implementing, and evaluating crossfunctional decisions that. Strategic management a levels only introduced at a level, this topic area explores the business concepts and theories that underpin strategic management and considers why strategy is practised in a range of business contexts from commercial and entrepreneurial to social and notforprofit organisations. Strategic management contents 1 introduction 7 2 the basis of strategy. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext.
Findings from the czech republic afonina anna abstract the purpose of this study is to investigate the current level of strategic management tools and techniques utilization as well as to explore and identify the impact of management tools on or. Strategy in business is concerned with the key decisions that are taken to ensure that. It is a rigorous explanation of many topics and concerns in strategic management. Generating strategic procurement options for analysis 28 15. A marketing plan is a written document containing the guidelines for the organizations marketing programs and allocations over the planning period cohen 2001. The subject is situational and so a script will never be enough but is meant to imbibe in student a sense and direction of tact of management. They have some specific mission towards which all efforts are directed. Strategic management process may be simply defined as the process through which a company formulates its business strategy elements in strategic management process. Under strategic management, the first step to be taken is to identi fy the objectives of the business concern. Strategic management, in contrast, focuses more on aligning environmental impacts with the mission statement of the organisation, so as to ensure that the right decisions are made for the future.
Strategic surprisingly, here there is ready agreement. The distinction between strategic thinking, strategic management and strategic planning 45 strategy in actionquick strategic thinking in unfavourable circumstances45 strategy in actionsony the disruptive innovator 50 principles for the successful use of strategy 61 finding the right strategic mix of entrepreneurial creativity and. Cs executive financial and strategic management study. Example of porters five forcescompetitive rivalry 14 3.
The term strategic management refers to the managerial process of o forming a strategic vision, o setting objectives, o crafting a strategy, o implementing and executing the strategy, o and making corrective adjustments in the vision, objectives, strategy, and execution are deemed appropriate. Subsequently, the collected data are analysed and our model is tested. The purpose of this course is to enhance your ability to do the job of a general manager responsible for strategic performance. Overview of strategic management theory strategic management is the process and approach of specifying an organizations objectives, developing policies and plans to achieve and attain these objectives, and allocating resources so as to implement the policies and plans. Strategic management is concerned with the determination of the basic longterm goals and the objectives of an enterprise and the adoption of courses of action and allocation of resources necessary for carrying out these goals. Defining the organizations business and developing a strategic mission as a basis for establishing what the organization does or doesnt do and where its headed. A framework for the strategic management of information. Download course materials strategic management i sloan. Scenarios are plausible views of how the environment of an organisation might develop in the future based on the pestel analysis an organisation will typically develop a few alternative scenarios 24 to explore and evaluate strategic options. Strategy and process conceptual framework for strategic management, the concept of strategy and the strategy formation process stakeholders in business vision mission and purpose business definition, objectives and goals corporate governance and social responsibility case study unitii. Corporate governance concept, issues, models, evolution and significance. Strategic management process strategic management process dr i. Special thanks is extended to those who participated in the case studies by sharing the details of their strategies.
Download mba strategic management lecture notes pdf mba. Corporate strategy is the pattern of deci sions in a company t hat determines and reveals its objectives, purposes, or goals, produces the principal policies and. Ba7302 strategic management syllabus notes question papers. List of key topics in strategic financial management notes ebook. Define strategic management and its four key attributes define. Concept based notes business policy and strategic management. Afterwards, the phenomenography research is described and explained. Strategic management is defined as dynamic process of formulation implication and control of strategies to realize the organization strategic intent dynamic means changing process which is not static or mechanistic process. Strategic management is the management of an organizations resources to achieve its goals and objectives. Summary strategic management chapter 19 exam 15 may 2014, questions exam 12 may 20, questions business economics revision notes multiple choice questions strategic management notes on book pages 2 30. Exchange is the focus exchanges are carried out by business firms, and also by non business organisations and even individuals. Porters frameworks and the resourcebased view of the firm pdf 1 1. Strategic management course notes strategic analysis lecture 2 chapter 1 business models vision, mission, values learning objectives. In the absence of a clear strategic focus you run the risk of making decisions based purely on immediate or pressing concerns and this will generally result in a lack of direction.
Mental model or cognitive structure that must condition how the organization reflects on its business project. Com, can download these study materials which will be useful for their exam preparation. Download strategic management tutorial pdf version previous page print page. Chaneta department of business studies faculty of commerce university of zimbabwe abstract wheelen and hunger 2002 say that strategic management is a set of managerial decisions and actions that determines the longrun performance of an organization. Specifically, to integrate the different functional areas of business e. Strategic thinking and strategic management strategic planning is only useful if it supports strategic thinking and leads to strategic management and, even more importantly, execution. Strategic management is a field of study that involves the process through which firms define their missions, visions, goals, and objectives, as well as craft and execute strategies at various levels of the firms hierarchies to create and sustain a competitive advantage. Mba strategic management lecture notes pdf free download. Einstein college of engineering 1 ba932 strategic management unit1. Mba finance strategic financial management sfm notes. Strategic thinking and subsequent management must result in action. Under strategic management, the first step to be taken is to identify the objectives of the business concern. Hence a corporation organized under the basic principles of strategic management will find a smooth sailing due to effective decisionmaking.
Strategic procurement planning depends on complexity, 3 risk, and value 2. Strategy in the simple sense of the word is a plan designed to achieve an objective and planning as we all know is the primary function of management that lays down the base for the entire business. These are previous examination questions papers that has been tested, check suggested answers in the comment section of the respective paper. It is usually considered that strategic management has five critical components. Four conditions must exist for an exchange to be able to occur. Anna university ba7302 strategic management syllabus notes 2 marks with answer is provided below. Difference between business policy and strategic management.
Strategic management is relevant to both small as well as large businesses as even the smallest business face competition and, by formulating and implementing proper strategies, they. Find materials for this course in the pages linked along the left. Their input, advice, and lessons learned, both successes and failures, have been incorporated into this document so that we may all apply better strategic management processes in our organizations. Pdf explanation of the strategic marketing management. Strategic management notes what is strategic management. Strategic management tools and techniques and organizational performance. These notes and ebook on strategic financial management have been prepared by experienced mba finance faculty and toppers and will provide you with easy to study material. Also published in 1980, was top management strategy, by benjamin b. Establishing the hierarchy of strategic intent creating and communicating a vision. Example of porters five forcesbuyers bargaining power 14 4. Strategic management courses is considered one of the most important courses that you will take during mba postgraduate degree as it integrates other courses, builds on them, and acts as a steppingstone to the real world of business the purpose of this course is to enhance your capacity to do the job of a general manager responsible for strategic performance.
It is difficult for candidates to secure a good result by picking isolated sections of the syllabus to study. In this article, we are going to provide the study notes for management studies. Topics include those such as innovation, top management, collaboration across firms, diversification, acquisitions, new ventures, internal organization, top management. Strategic management the main objective of strategic management is to provide a framework which guides all your business activities over the medium and longer term. The essentials of strategic management the essentials of strategic management provides us with a short, concise explanation of the most important concepts and techniques in strategic management.
Building a foundation for your future 2 introduction this workbook is designed to help producers become more familiar with how to construct a strategic marketing management program for their business. Lecture notes strategic management i sloan school of. The strategic and operations management paper examines both the breadth in the compulsory section a and depth in section b of candidates knowledge of the subject. Com, management strategic management is nothing but planning for both predictable as well as unachievable contingencies. Kasneb strategic management past papers and answers.
Financial and strategic management subject is paper 8 in cs executive examination and one the subject in module 2. Hello friends now i decided to provide these notes for free to you. Strategic management 2 a strategy is an action plan built to achieve a specific goal or set of goals within a definite time, while operating in an organizational framework. The methodology adopted in the survey is presented in the next section. Strategic management strategic management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. Strategic management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization.
Defining strategic management, planning outline l why strategic management. Strategic management notes lecture notes, lectures 1. Screening and selecting strategic options 32 boxes 1. Strategic management tools and techniques and organizational. Originally used at the grapefruit economic workshop, this material was. Strategic management is continual evolving iterative process which is repeated over the time as situation demands. These concepts are clearly explained by citing various examples.
Company reputation with customers, suppliers and other stakeholders is an intangible resource. Ba7 302 notes syllabus all 5 units notes are uploaded here. Strategic management meaning and important concepts. It is an essential management process to strategize and prepare for different odds. A strategic plan is an overall defined course of organizational action for a set period of time that guides daytoday decisionmaking and activity.
Comparative adjustment costs, transaction costs, and opportunity costs. Strategic management is a broader term than strategy and is a process that includes top management s analysis of the environment in which the organization operates prior to formulat ing a strategy, as well as the plan for implementation and control of the strategy. Students who are pursuing mba 3rd sem should refer to this page for availing the best lecture notes for strategic management subject. In the corporate sector, its emergence started after the culmination of second world war. Strategicmanagementnotes ba932 strategic management unit. Examples of organizational capabilities are outstanding customer service, excellent product development. Meaning nature, scope, and importance of strategic management. Jagdish sheth, a respected authority on marketing and strategic planning, provides. Weve given revised syllabus 2017 cs executive financial and strategic management study material by. This list of publicly held companies is an approximate compilation of the largest companies headquartered in michigan outside of wayne, oakland, macomb, washtenaw and livingston counties that have stock traded on a public. Ca ipcc strategic management fast track revision with hand. Free download cs executive financial and strategic management study material pdf for december 2019 exams.
Mba strategic management lecture notes pdf download mba. The range of topics to which qualitative research has contributed in strategic management is wide and deep. Introduction of strategic management assignment point. Sep 24, 2012 notes for mba strategic management unit i 1. Strategic management is a broader term than strategy and is a process that includes top managements analysis of the environment in which the organization operates prior to formulat ing a strategy, as well as the plan for implementation and control of the strategy. It results into financial benefits to the organizations in the form of increased profit even in the face of environmental threats. Effective strategic planning processes are intangible resources. Building a foundation for your future 4 customer characteristics and purchasing hot buttons provide the information needed to decide whether the firm can and should attempt to gain or maintain a sustainable competitive advantage for marketing to a particular market segment lehmann and winer 1994. Customer segmentation and customer value proposition pdf 4. It involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies and ensuring that management rolls out the strategies across the organization. The strategic management subject is in effect since history but has been taught as a syllabus of recent, to win over the various limiting factors attached with the organisation. Strategic managementunit i strategy and process 9conceptual framework for strategic management, the concept of strategy and thestrategy formation process stakeholders in business vision, mission and purpose business definition, objectives and goals corporate governance and socialresponsibilitycase study. Two or more people or organisations must be involved the parties must be involved voluntarily each party must have something of value to exchange, and the parties must believe. The history is filled with the examples where the strategic management of offensives and counter offensives paved the path for decisive victories.