Minimizes competitive disadvantage it minimizes competitive disadvantage and. In his 1965 classic corporate strategy, he developed gap analysis to clarify the gap between the current reality and the goals and to develop what he called gap reducing actions. 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. Seek better operational control by trying to meet budgets. The key concepts of the companies concerned the sources of sustained competitive advantage i. An overview learning objectives after completion of the unit, you should be able to. Difference between strategic management and business policy.
Any university student can download given mba finance notes and study material or you can buy mba finance books at amazon also. Lecture notes strategic management i sloan school of. Chapter 1 visioning,strategic planning, and corporate. Define strategic management and its four key attributes define. Know the featurescharacteristics of strategic management. In fact, it must lie in society since a business enterprise is an organ of society. Therefore, this research aims to assess the acquired knowledge of university management students relating to strategy and strategic management concepts with the purpose of answering the. 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. Download mba strategic management lecture notes pdf. Nmims global access school for continuing education. It is the technique by which companies are directed and managed. And its purpose must lie outside the business itself. Business policy and strategic management learning objectives learn what business policy and strategy is all about. The evolution of corporate governance and consequent.
Pdf fundamentals of strategic management second edition. Ba7 302 notes syllabus all 5 units notes are uploaded here. Drucker emphasized the importance of marketing in his classic book, the practice of management as. Evolution of strategic management from the 1950s to the. Chapter 1 an overview of financial management what is finance. Origin and evolution of strategic planning in the united nations. The survival and success of an organisation depend to a large extent on the competence and character of its management. Nov 19, 2015 anna university ba7302 strategic management syllabus notes 2 marks with answer is provided below. Tactical information information in this category is used in short term planning and is of use at management control level. Defining strategy, levels at which strategy operates, strategic decision making and approaches to strategic decision making, essence of strategic thinking, replacing planning with strategic thinking, strategic management process.
Strategic management business policy 1 deals with strategic decisions that decide the longterm health of an enterprise. Mba strategic management lecture notes pdf download mba 3rd. Strategic management is the process by which top management determines the longterm direction of the organization by ensuring that careful formulation, implementation and continuous evaluation of strategy take place. Ba7302 strategic management syllabus notes question papers. Corporate governance deals with determining ways to take effective strategic decisions.
Know the framework and importance of strategic management. By so doing, it appears to have 1 1 visioning,strategic planning, and corporate. Management has to also facilitate organisational change and adaptation. Strategic management is defined as the process of evaluation, planning, and implementation designed to maintain or improve competitive advantage. The evolution of business strategy by rich horwath while the underpinnings of the concept of strategy can be traced to military ancestry, the business application has gained in popularity and following. The evolution of strategic management strategic management. May 29, 2016 he felt that management could use the grid to systematically prepare for the future. Strategicgroup competitive changes during industry evolutionindustry. Strategic informationit is required by the managers at the strategic level of management for the formulation of organisational strategies. The phases of evolution of strategic management are. Corporate social responsibility, and governance notes for mba pdf mba 3rd. A strategic plan is an overall defined course of organizational action for a set period of time that guides daytoday decisionmaking and activity.
It takes major strategic decisions and formulates corporate level strategies. Conceptualization of project dynamics and the issuestradeoffs involved in strategic management of projects. Strategic management contents 1 introduction 7 2 the basis of strategy. On the other hand, the strategic management journal also has a high level of citations 67 with greater link strength to other papers 1173. 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. Strategy and corporate evolution strategic management mergers. Strategic management process is a tool that has been successfully used by the ailing corporate. In the early stages of development, strategic management concepts revolved around microeconomics. Corporate governance concept, issues, models, evolution and significance. O box 146340800 nairobi abstract governance determines the exercise of power in the management of economic and social resources for. Ba7302 strategic management syllabus notes question papers 2.
Notes activities such as planning, organising, leading or controlling. Porters frameworks and the resourcebased view of the firm pdf 1. Marketing is the main function for keeping track of new product ideas. Evolution of strategic management in strategic management. Mba finance notes 2020 download all semester books. Corporate governance refers to the way a corporation is governed. 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.
The evolution of business policy to strategic management summaried below. Anna university ba7302 strategic management syllabus notes 2 marks with answer is provided below. Share this article with other students of mba finance for two years who are searching for mba finance books. The need to strengthen the implementation of resultsbased management by defining corporate strategic plans and developing the related tools required for monitoring. Write a short note about management information system mis. The theory and practice of strategy in business organizations. See note 6 on slide 76 2 mediumterm payout ratio is based on analyst estimates 3 reflects average cet1 capital. Strategy, strategic management, strategic planning and strategic thinking fred nickols. He felt that management could use the grid to systematically prepare for the future. The evolution of corporate governance and consequent domestication in kenya rita ruparelia amos njuguna chandaria school of business p.
Discuss the nature and scope of corporate management and its role in nonbusiness organization corporate strategy is basically concerned with the choice of businesses, products and. Concept based notes business policy and strategic management. 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. Jagdish sheth, a respected authority on marketing and strategic planning, provides. Strategic thinking and subsequent management must result in action. Corporate governance concept, issues, models, evolution and. The subject is situational and so a script will never be enough but is meant to imbibe in student a. Strategic management course notes strategic analysis lecture 2 chapter 1 business models vision, mission, values learning objectives. Force has thus twice deployed considerable efforts toward corporate strategic planning within a sixyear period. They have some specific mission towards which all efforts are directed. 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. The aim of this research paper is to study about the art of strategic management and its role in the success of corporate sector. Four phases in the evolution of formal strategic planning.
Defining strategy, levels at which strategy operates, strategic decision making and approaches to strategic decision making, essence of strategic thinking, replacing planning. It is the function performed not only by corporation president and the army general but also of the shop supervisors and the company commander. Corporate evolution and strategic management mba pt vth. Jofre foreword the present report is the result of an ongoing study on the patterns and trends on both the theory and practice in the field of strategic management. The term strategic management is used to denote a branch of management that is concerned with the development of strategic vision, setting out objectives, formulating and implementing strategies and introducing corrective measures for the deviations if any to reach the organizations strategic intent. The evolution of business strategy the strategic thinking. 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. Seeking more effective planning for growth by trying to predict the future beyond next year. Minimizes competitive disadvantage it minimizes competitive disadvantage and adds up to competitive advantage.