Fundamentals of Strategic Management KNEC notes

Fundamentals of Strategic Management notes

TOPIC 1: INTRODUCTION TO STRATEGIC MANAGEMENT

  • Meaning of terms
  • Roles of strategic management:
  • Factors that Shape Strategy
  • Essential features of organization‘s strategy
  • Evolution of strategic Management
  • Strategic issues
  • Strategic management process

TOPIC 2: STRATEGIC MANAGEMENT OF ENVIRONMENT

  • Environment in strategic Management
  • Environmental Scan
  • External and internal influences
  • SWOT Analysis
  • PESTEL Analysis

TOPIC 3: COMPETITIVE ADVANTAGE

  • Meaning of Competition
  • Competitive advantage
  • Competitive forces in a business environment
  • Benefits of analyzing organization‘s competitive advantage
  • Approaches in an organization‘s competitive environment
  • Porter‘s model

TOPIC 4: FORECASTING STRATEGIC MANAGEMENT

  • Meaning of forecasting
  • Benefits of forecasting in strategic management
  • Strategic management forecasting methods

TOPIC 5: STRATEGY FORMULATION

  • Meaning of strategy formulation
  • Importance of strategy formulation
  • Levels of strategy formulation
  • Models of strategy formulation

TOPIC 6: STRATEGY IMPLEMENTATION

  • Meaning of strategy implementation
  • Importance of Strategy Implementation
  • Model of strategy implementation

TOPIC 7: STRATEGY EVALUATION AND CONTROL

  • Strategy Evaluation and control
  • Importance of strategy evaluation and control
  • Criteria for Evaluating Strategies:
  • Levels of strategy evaluation
  • Approaches in strategy evaluation
  • Definition
  • Components of organizational culture
  • Roles of organizational culture
  • Organizational change
  • Types of organizational change

TOPIC 8: STRATEGY AND DIVERSIFICATION

  • Meaning of Diversification
  • Types of diversification strategy

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