Paper 3.5 - Strategic Business Planning and Development

 

Aim

To ensure that students can exercise judgement and technique in strategic business management to enable them to contribute to the formulation of business strategy, the development of products and services and the maintenance of quality throughout the organisation.

Objectives

On completion of this paper candidates should be able to:

  • identify and apply the principal concepts and ideas in the theory and practice of strategic management
  • understand the internal and external factors affecting an organisation and apply this knowledge to evaluate its strategic position
  • identify appropriate strategies based on the evaluation of the organisations’ objectives and position
  • identify appropriate methods of implementing chosen strategies and evaluate their impact on organisational structures and operations
  • understand the impact of globalisation on strategic business planning and
  • demonstrate the skills expected in Part 3.

Content

Models of strategic management traditional models of strategic management, contingency approaches, organisational learning.

External environment scanning macroeconomic environment, competitive environment, global environment, competitor intelligence systems.

Internal assessment performing a position audit, functional area relationships, marketing, finance, production, R&D, IS/IT, procurement, HRM.

The nature of strategy analysis and choice strategy generation and selection, strategy evaluation, evaluation systems, contingency planning, cultural implications of strategic choice.

The nature of strategy implementation marketing issues (segmentation and positioning), finance issues (performance evaluation), R&D issues (quality and innovation), IS/IT issues (automate, infomate and transfomate), HR issues (motivation, development and performance evaluation), management issues (managing change and persuasion skills), project management tools and techniques.

Matching structures with strategy strategic business unit, functional structures, divisional structures (product based), matrix structures – product, project, client and global approaches.

The nature of global competition global challenge, global competitive advantage, strategies for the global service business, global organisations, cross-cultural management and leadership, reaching the global customer.

Ethical considerations ethics and business conduct.

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