MA 100|Initial Contents

Week 1: Introduction to Strategic Management

• Overview of strategic management concepts

• Importance of strategic planning in organizational

success Assessment:
Week 2: Strategic Goals and Objectives  Midterm Exam: Covering concepts from weeks 1-6
 Final Exam: Covering concepts from weeks 7-12
 Defining and setting strategic goals
 Group Project: Conducting a strategic audit for a
 Criteria for effective goal-setting
chosen organization
Week 3: Internal Analysis  This syllabus provides a structured approach to
teaching the key areas of a strategic audit, allowing
 Evaluating organizational strengths and
students to gain practical skills and insights into
weaknesses
strategic management.
 Resource and capability analysis

Week 4: External Analysis

 Analyzing the external environment

 Identifying opportunities and threats

Week 5: Strategic Planning Process

 Different approaches to strategic planning

 Decision-making models in strategic
management

Week 6: Implementation and Execution

 Strategies for effective implementation

 Overcoming common challenges in execution

Week 10: Organizational Culture and Leadership

 Impact of culture on strategy

 Leadership styles and their influence on
strategic initiatives

Week 11: Performance Metrics

 Selecting and refining performance metrics

 Evaluating the effectiveness of measurement
systems

Week 12: Comprehensive Case Study

 Applying strategic audit concepts to a real-

world case
 Presenting findings and recommendations
ELEMENTS OF STRATEGIC AUDIT • those capabilities that are critical to a
business achieving competitive advantage
What is Strategic Audit? • starts with recognizing the competition
• A process in business strategy corporate, between businesses is as much a race for
business unit, operational competence mastery as it is for market
• Focused on ensuring that resources and position and market power
competencies are understood and evaluated • Senior management cannot focus on all
activities of a business and the
Some Preliminaries competencies required to undertake
• Essence of business strategy is all about them.
choices related to competition • THE GOAL IS FOR MANAGEMENT TO
• Strategic thinking and decision making FOCUS ATTENTION ON COMPETENCIES
• Emphasis on business environment THAT REALLY AFFECT COMPETITIVE
• Internal (sw) external (ot) ADVANTAGE.
• “To be in a position to exploit opportunities or
respond to threats, a business needs to have 4. PERFORMANCE ANALYSIS
the right resources and capabilities in place.” • After defining the strategic capabilities of a
business. Questions that can be asked that
Elements (stages) of Strategic Audit: evaluate the overall performance of the
1. RESOURCE AUDIT business include:
The resource audit identifies the a. How have the resources deployed in
resources available to a business. Some of the business changed over time? Historical
these can be owned (e.g., plant and Analysis
machinery, trademarks, retail outlets) whereas b. How do the resources and capabilities
other resources can be obtained through of the business compare with others
partnerships, joint ventures or simply supplier in the industry?
arrangements with other businesses. Industry Norm Analysis
DO YOU HAVE WHAT YOU NEED? DO c. How do the resources and capabilities
YOU NEED WHAT YOU HAVE? of the business compare with “best-
in-class” – wherever that is to be
2. VALUE CHAIN ANALYSIS found? Benchmarking
• describes the activities that take place in a d. How has the financial performance of
business and relates them to an analysis the business changed over time, and
of the competitive strength of the how does it compare with key
business. competitors and the industry as a
• Two Groups: whole? Financial Statement Analysis/
1. Primary Activities – those that are Ratio Analysis
directly concerned with creating and
delivering a product (e.g. component 5. PORTFOLIO ANALYSIS
assembly) inbound logistics, operations, • Balance of the strategic business units
outbound logistics, marketing & sales, services • Operations in more than one market
2. Support Activities – they are not segment
directly involved in production, may • Diversification – a strategy that mixes wide variety
increase effectiveness or efficiency of investments within a portfolio to reduce risks
(e.g. human resource management). • An important objective of a strategic audit
It is rare for a business to undertake is to ensure that the business portfolio is
all primary and support activities. strong and that business units requiring
• One way of identifying which activities are investment and management attention
best undertaken by a business and which are highlighted. This is important – a
are best provided by others (outsourced) business should always consider which
• PRIORITIZING IMPORTANT ACTIVITIES markets are most attractive and which
business units have the potential to
3. CORE COMPETENCE ANALYSIS achieve advantage in the most attractive
markets.
6. SWOT ANALYSIS
• Abbreviation for Strengths, Weaknesses,
Opportunities, and Threats
• Use S to overcome the W
• Maximize / Optimize O and minimize the T
• Use S/W to exploit O and respond to T

Key Areas of Strategy Audit?

• Strategic Goals and Objectives: Assessing the
clarity, relevance, and achievability of
organizational goals.
• Internal Analysis: Evaluating the organization's
strengths and weaknesses, including its
resources, capabilities, and overall
competitiveness.
• External Analysis: Examining the external
environment, considering factors like market
trends, competition, and regulatory changes.
• Strategic Planning Process: Reviewing the
methods used for strategic planning and
decision-making within the organization,
• Implementation and Execution: Assessing how
well the strategies have been put into action
and whether they are achieving the intended
results.
• Monitoring and Measurement: Evaluating the
systems in place for tracking and measuring
progress toward strategic goals.
• Adaptability and Flexibility: Assessing the
organization's ability to adapt to changes in
the internal and external environment.
• Risk Management: Identifying and addressing
potential risks that may impact the success of
the strategies.
• Organizational Culture and Leadership:
Examining how organizational culture and
leadership support or hinder the execution of
strategic initiatives.
• Performance Metrics: Analyzing the
effectiveness of performance metrics in
measuring strategic success.