Strategic Management – KASNEB Syllabus

PAPER NO.16   STRATEGIC MANAGEMENT

GENERAL OBJECTIVE

This paper is intended to equip the candidate with the knowledge, skills and attitudes that will enable him/her to effectively undertake strategic management responsibilities in an organisation.

LEARNING OUTCOMES

A candidate who passes this paper should be able to;

  • Explain the concepts of strategy, strategic management and strategic management process
  • Analyse an organisation’s environment and its impact on strategic decisions
  • Develop and implement a strategic plan
  • Demonstrate an ability for critical and strategic thinking
  • Effectively react to and incorporate emerging issues in strategic Management

CONTENT

Concept of strategy and strategic management

  • Meaning ,essence, nature and scope of strategy
  • Characteristics and importance of strategy
  • Mintzberg’s 5p’s of strategy
  • Levels/hierarchy of strategy
  • Criteria for effective strategy
  • Strategic decisions
  • Strategic management;
  • Meaning, key terms, aspects and tasks
  • Management versus strategic management
  • Scope of strategic management
  • Components of strategic management
  • Strategists – their roles and levels

Strategic management process

  • Key terms in strategic management
  • The nature and value of strategic management
  • Steps in the strategic management process
  • Benefits of strategic management
  • Limitations of strategic management

External Analysis

  • The concept and characteristics of environment
  • Purpose of environmental analysis
  • Meaning and components of the external environment
  • Micro environmental analysis
  • Macro environmental analysis

Strategic management tools and techniques

  • SWOT analysis
  • Gap analysis
  • PESTEL
  • Porter’s five forces model
  • Strategic groups
  • Strengths, opportunities, aspirations and results (SOAR)
  • BCG matrix
  • Balances scorecard

Internal analysis

  • Meaning and components of the internal environment
  • Significance of internal analysis
  • Competitive advantage
  • Value chain
  • Value system
  • Core competency

Strategy formulation/ strategic planning

  • Meaning of strategy formulation/strategic planning
  • Types of strategy
  • Organisational vision and mission
  • Organisational goals and objectives
  • Steps in strategy formulation
  • Development of corporate strategy and business strategy
  • Development of functional strategies
  • Strategic options
  • Strategy formulation constraints
  • Competitive advantage

Strategy implementation

  • What strategy implementation involves
  • The relation between implementation and formulation of strategy
  • Plans, programs and budgets
  • Steps for effective strategy implementation
  • Resource allocation

Monitoring and evaluation of strategy

  • Purpose and role of strategic monitoring and evaluation
  • Process of strategic monitoring and evaluation
  • Tools of strategic monitoring and evaluation
  • Role of management information systems
  • Performance indicators
  • Features of good strategic monitoring and evaluation systems
  • Review and feedback
  • Continuous improvement

Management of strategic change

  • Levels at which change occurs
  • Major types of strategic change –reengineering, restructuring and innovation
  • Stages in the strategic change process
  • Strategic leadership
  • Managing organisation power and politics
  • Business excellence model
  • Learning organisation
  • Lean management and benchmarking

Global Strategic Management

  • Theoretical foundations of global strategic management
  • International business environment crafting a global strategy
  • Internationalisation of business
  • Foreign market selection
  • Foreign market entry and operations strategy
  • Globalisation of business
  • Multinational corporations (MNC’s )

Case studies on strategic management

 Emerging issues and trends



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