Understand the principles of strategy formulation, management and execution.
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While much of strategy deals with strategic analysis, any practising manager will immediately agree that any strategy is only as good as adhering to the Strategic Framework. The question of strategy formulation, management and execution is therefore a key challenge for managers and will form the focus of this course. Executing the framework involves balancing every aspect of the framework and operational goals of the organisation while appreciating the interconnectedness of strategy, structure and systems. It involves gaining the commitment of organisational members to a new strategy as well as managing processes of organisational change, both of which deal with the complex dynamics of people, power and politics.
In this course, we will examine how managers can anticipate, understand and resolve different problems that arise when a new strategy is put in place. In general, a different area of the strategy framework will be explored during each class. Class discussions, exercises and readings from the textbook and the business press will be used to link the conceptual material we will consider with real world issues and problems. Case analysis and discussion are integral parts of the course and I will expect all students to have carefully prepared the assigned cases before class. The cases are designed to test and sharpen the ability of students’ to identify course concepts in actual business settings and apply these concepts in decision-making but the case approach only works if students prepare properly for class.
. Understand the central concepts in the strategy framework
. Understand how to develop a plan for the implementation of a strategy
. Understand the sorts of challenges and barriers that may pose problems for strategy implementation
. Ability to apply concepts and frameworks from strategy implementation to business cases and real-life firms
. Ability to identify problem areas when implementing a strategy and use theory to develop potential solutions
. Enhanced skills ¡n written and verbal communication, teamwork, analytical thinking, decision-making, project planning and general management
Upon completion of the course students will:
. Understand the principles of strategy formulation, management and execution.
. Have developed a deep understanding of the challenges of executing strategy within a given framework