Strategic Planning and Management

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Strategic Planning and Management

By | April 2011
Page 1 of 12
IILM Institute for Higher Education

Course Manual Strategic Planning & Implementation GM-402

PGP 09-11

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PGP Batch 09-11 I. COURSE FACILITATORS Prof. S. Das Prof. Rakesh Chaudhry Prof. Rahul Mishra Dr. Ashok Mehta Ms. Rabiya Sood Dr. Sangeeta Yadav II. COURSE OVERVIEW: Strategic management is set of managerial decisions and actions that determine the long term performance of a corporation. It includes environmental scanning (both external and internal), strategy implementation, and evaluation and control. It emphasizes the monitoring and evaluating of external opportunities and threats in light of a corporation’s strengths and weaknesses. Achievement of appropriate fit between an organization’s environment and its strategy, structure and processes has positive effects on its performance. Many of the concepts and techniques dealing with strategic management have been developed and used successfully by business corporations such as General Electric and Boston Consulting Group. Over the time, business practitioners and academic researchers have expanded and refined these concepts and added many more. Initially strategic management was of most use to large corporations operating in multiple industries and locations. Over the years its benefit has been realized for all types of organizations, small and large, private and public, industrial and cooperative Increasing risks of error, costly mistakes, and even economic ruin are causing today’s professional managers in all organizations to take strategic management seriously in order to keep their company competitive in an increasingly volatile environment. A survey of nearly 50 corporations in a variety of countries and industries found the three most highly rated benefits of strategic management to be, (i) clearer sense of strategic vision for the firm, (ii) sharper focus on what is strategically important, and (iii) improved understanding of a rapidly changing environment. The course is planned to...
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