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Strategic Management

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Overview

Strategic Management draws together and applies ideas from many of the disciplines and fields of study which contribute to a broad understanding of business.

Some of the ideas may already be familiar to students who have previously studied courses in marketing, economics, management theory or organizational behaviour. Crucially though, through an understanding of strategy and strategic management, we can gain an insight into how these individual disciplines interact.

The course has been designed for all those intending a business career and for those with an interest in how contemporary organisations operate. Business strategy is not simply the province and responsibility of senior level management decision makers.

The ideas which underpin Strategic Management can be applied at many levels in the business organisation to help ensure that individual business units or departments maintain an effective contribution to the overall success of the business.

Modules

Unit 1: Origins and Nature of the Strategic Process

Introduction

Objectives

1. Nature of strategy

2. Strategic decisions

3. Business culture

4. Missions, visions, goals, objectives?

5. Strategic process

6. Paradigms and strategic decision making

Summary

References

Further reading

Unit 2: Analysis of Strategic Situations

Introduction

Objectives

1. Strategic environment

2. Macro-environment: PEST

3. Task environment

4. Competitive environment

5. Analysing competitors

6. Prioritisation

Review activity 2.1: British Airways A

Internal appraisal

7. Analysing resources and capabilities

Review activity 2.2: British Airways A

Review activity 2.3: Laporte

Summary

Further reading

Unit 3: Making Strategic Choices

Introduction

Objectives

1. Essential criteria for strategic choices

2. Basic strategic choices

3. Decision support matrices

4. Risk

5. Success and choice

6. Evaluation procedures

7. Alternative approaches to strategy

Review activity 3.1: Ladbrokes

Summary

References

Further reading

Unit 4: Implementing Strategic Decisions

Introduction

Objectives

1. Implementation: an overview

2. Organisational design and effectiveness

3. Planning and control

4. Managing strategic change

5. Development of competencies

Review activity 4.1: British Airways B

Summary

References

Further reading

Appendix

Index of retail prices: 2 indices

Requirements

There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.

Assessment

Assessment Method

After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support

Course Textbook

For this course you will be required to purchase the textbook:

  • Strategic Management: An Analytical Introduction (1996) George Luffman, Edward Lea, Stuart Sanderson and Brian Kenny, 3rd edition, Oxford: Blackwell

Strategic Management draws together and applies ideas from many of the disciplines and fields of study which contribute to a broad understanding of business.

Some of the ideas may already be familiar to students who have previously studied courses in marketing, economics, management theory or organizational behaviour. Crucially though, through an understanding of strategy and strategic management, we can gain an insight into how these individual disciplines interact.

The course has been designed for all those intending a business career and for those with an interest in how contemporary organisations operate. Business strategy is not simply the province and responsibility of senior level management decision makers.

The ideas which underpin Strategic Management can be applied at many levels in the business organisation to help ensure that individual business units or departments maintain an effective contribution to the overall success of the business.

Modules

Unit 1: Origins and Nature of the Strategic Process

Introduction

Objectives

1. Nature of strategy

2. Strategic decisions

3. Business culture

4. Missions, visions, goals, objectives?

5. Strategic process

6. Paradigms and strategic decision making

Summary

References

Further reading

Unit 2: Analysis of Strategic Situations

Introduction

Objectives

1. Strategic environment

2. Macro-environment: PEST

3. Task environment

4. Competitive environment

5. Analysing competitors

6. Prioritisation

Review activity 2.1: British Airways A

Internal appraisal

7. Analysing resources and capabilities

Review activity 2.2: British Airways A

Review activity 2.3: Laporte

Summary

Further reading

Unit 3: Making Strategic Choices

Introduction

Objectives

1. Essential criteria for strategic choices

2. Basic strategic choices

3. Decision support matrices

4. Risk

5. Success and choice

6. Evaluation procedures

7. Alternative approaches to strategy

Review activity 3.1: Ladbrokes

Summary

References

Further reading

Unit 4: Implementing Strategic Decisions

Introduction

Objectives

1. Implementation: an overview

2. Organisational design and effectiveness

3. Planning and control

4. Managing strategic change

5. Development of competencies

Review activity 4.1: British Airways B

Summary

References

Further reading

Appendix

Index of retail prices: 2 indices

Requirements

There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.

Assessment

Assessment Method

After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support

Course Textbook

For this course you will be required to purchase the textbook:

  • Strategic Management: An Analytical Introduction (1996) George Luffman, Edward Lea, Stuart Sanderson and Brian Kenny, 3rd edition, Oxford: Blackwell

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