MGT6203
Strategic Management
The course presents the functions of management in the formulation of strategic policies, goals, objectives, and procedures relative to organizational effectiveness. Topics include theories of strategic planning, internal and external factors in strategic planning, strategic planning relative to goals, forecasting techniques, and analyzing and evaluating change. The course is a capstone integration of all aspects of business that focuses on strategic planning.
PREREQUISITE: Twelve hours of 5000/6000 level BUS, ECO, FIN, MGT, MKT.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Discussing the major issues associated with gaining acceptance of the strategic planning process.
- Identifying organizational structures that are compatible with stated organizational directions.
- Describing techniques for integrating the functional areas of a business with strategic business units.
- Identifying and analyzing information sources used in the development of a strategic plan.
- Analyzing and evaluating the effectiveness of corporate and business level strategies.
- Evaluating financial ratios and financial statements and their impact on an organization’s operations.
- Evaluating marketing agendas and how it complies with the organization’s strategy.
- Identifying and utilizing organizational internal and external factors (strengths, weaknesses, opportunities, threats), and core competencies to gain a competitive advantage.
- Formulating, implementing, and evaluating strategic plans.
- Understanding the purpose and function of the Mission and Vision statements.
- Recognizing the importance of ethical standards and social responsibility as a core value of an organization.
- Assessing various types of strategies, integration strategies, intensive strategies, diversification strategies and defense strategies faced by organizations today to remain competitive or gain a competitive edge.
- Preparing and delivering a strategic business plan for an actual or hypothetical business or organization.