Fundamentals of Business and Strategic Management III Module
Strategy sets the direction for an organisation. Every organisation that exists was established for a purpose. That purpose is created during strategy formulation. Where an organisation wants to be, what it wants to do, what function it wants to fulfil, are a few examples of the decisions made during the strategic planning process.
Models have been devised as a guide to assist organisations in their practical application of strategy. But each organisation is unique. A strategy that uplifts one organisation may have the opposite effect if applied in another. So models may be revised or adjusted according to the particular organisation’s specifications. We focus on the Exploring Strategy Model, Kotter’s Eight-Step Model and McKinsey’s Seven-S Model. We will walk you through how to evaluate the extent to which these strategies are likely to meet the intended outcomes.
Upon completing this course, students should be able to:
- Examine strategic management concepts and principles;
- Compare and evaluate a range of strategy theories and models;
- Evaluate and selected strategy models and theories and apply to them to a workplace context;
- Create a comprehensive strategic plan;
- Critique strategic plans in the context of an organisation; and
- Relate organisational strategy to industry and sector trends.