McTimothy Associates

Strategic Management Best Practice

Why Attend

What makes firms successful and what makes them fail or underperform? Strategic management
provides some answers to these fundamental management questions. It involves analyzing a firm’s
resources and its industry environment to deliver competitive advantage over other firms.

This course addresses the strategic management of organizations, including the formulation of longer
term strategic directions, the planning of objectives and supporting strategies, and the control of
strategic implementation. It provides learners with an understanding of the approaches and tools for
planning and controlling strategy at the organization and sub-unit levels, as well as experience in case
analysis and practical application of planning and control skills. Topics include evaluating the strategic
environment, industry and competitive analysis, formulating mission and setting objectives, strategy
selection and implementation, and strategic control.

Furthermore, success in the future may well require the firm to change in radical ways and to target
different markets with different products and services. This course will give you a holistic view of the
firm and will provide you with an understanding of business and corporate strategy.

$ 223.46

Event Date: 24/04/2024 – 27/04/2024

Total:

More Dates

24/07/2024 – 27/07/2024

Price: $ 223.46

16/10/2024 – 19/10/2024

Price: $ 223.46

COURSE OBJECTIVES
By the end of the course, you will be able to:
• Understand principal concepts in strategy theory and practice
• Apply these concepts to analyze markets and firms in real life situations
• Design strategies that enable firms to achieve and sustain competitive advantage
• Have awareness of some of the challenges inherent in implementing new strategies
• Discuss strategic issues with colleagues and be able to offer critical insight

COURSE STRUCTURE

Part 1: Industry and competitive analysis
The start of the course will involve an introduction to what strategy actually is. Using economic and
management principles, we will then consider methods to analyze the competitive landscape that firms
operate in. You will learn how to determine industry attractiveness (i.e. detect profit opportunities; how
to identify potential threats to a firm’s profit making abilities; and how to select an appropriate strategic
position in relation to an existing industry structure).

Part 2: Core competencies
In this part of the course, we will explore the relationship between competitive advantage and firms’
internal capabilities (also called core competencies). We will look at how firms develop unique and
superior resources and capabilities that are difficult for other firms to replicate.

Part 3: Corporate strategy and implementation
This section focuses on common strategic actions that alter the scope of the firm, particularly
diversification, mergers, acquisitions and alliances. We will explore how organizational structures and
processes influence strategic outcomes and the role of managers as organizational leaders and
architects.

Part 4: Strategy and innovation
The ability of a firm to innovate, whether it be through new product development or through
organizational innovation, is crucial to sustaining competitive advantage. We will begin by looking at
some of the problems that successful firms face and we will consider how firms can get in front and stay
ahead of the pack.

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