1.1 explain strategic contexts and terminology β missions, visions, objectives, goals, core competencies
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LO1 Understand the process of strategic planning
Strategic contexts and terminology: role of strategy; missions; visions; strategic intent; objectives; goals; core competencies; strategic architecture; strategic control
Strategic thinking: future direction of the competition; needs of customers; gaining and maintaining competitive advantage; Ansoff’s growth-vector matrix; portfolio analysis
Planning systems: informal planning; top-down planning;
1.1 explain strategic contexts and terminology – missions, visions, objectives, goals, core competencies
1.2 review the issues involved in strategic planning
1.3 explain different planning techniques bottom-up planning; behavioural approaches
Strategic planning issues: impact on managers; targets; when to plan; who should be involved; role of planning
Strategic planning techniques: BCG growth-share matrix; directional policy matrices; SPACE, PIMS
LO2 Be able to formulate a new strategy
Stakeholder analysis: stakeholder significance grid; stakeholder mapping
Environment auditing: political, economic, socio-cultural, technological, legal and environmental analysis (PESTLE); Porter’s 5 force analysis; the threat of new entrants; the power of buyers; the power of suppliers; the threat of substitutes; competitive rivalry and collaboration
Strategic positioning: the Ansoff matrix; growth; stability; profitability; efficiency; market leadership; survival; mergers and acquisitions; expansion into the global marketplace
The organisational audit: benchmarking; SWOT analysis; product positions; value-chain analysis; demographic influences; scenario planning; synergy culture and values
2.1 produce an organisational audit for a given organisation
2.2 carry out an environmental audit for a given organisation
2.3 explain the significance of stakeholder analysis
LO3 Understand approaches to strategy evaluation and selection
Market entry strategies: organic growth; growth by merger or acquisition; strategic alliances; licensing; franchisin Substantive growth strategies: horizontal and vertical integration; related and unrelated diversification
Limited growth strategies: do nothing; market penetration; market development; product development; innovation
Disinvestment strategies: retrenchment; turnaround strategies; divestment; liquidation
Strategy selection: considering the alternatives; appropriateness; feasibility; desirability
3.1 analyse possible alternative strategies relating to substantive growth, limited growth or retrenchment
3.2 select an appropriate future strategy for a given organisation
LO4 Understand how to implement a chosen strategy
The realisation of strategic plans to operational reality: communication (selling the concepts); project teams; identification of team and individual roles, responsibilities and targets; programme of activities; benchmark targets at differing levels of the organisation
Resource allocation: finance; human resources; materials; time
Review and evaluation: an evaluation of the benchmarked outcomes in a given time period in relation to corporate, operational and individual targets
4.1 compare the roles and responsibilities for strategy implementation
4.2 evaluate resource requirements to implement a new strategy for a given organisation
4.3 discuss targets and timescales for achievement in a given organisation to monitor a given strategy.
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