Introduction to Strategic Management
Leverage your understanding of the difference between operating and strategic management decisions.
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The course Introduction to Strategic Management introduces you to the concept of strategic management and how management can use the principles underlying strategic management to formulate and implement major goals and initiatives.
The course explains what a mission statement is and what it can achieve for a business. You will learn what parameters should be included in a strategic plan and how a strategic plan should help determine long-term decisions including an organization's objectives, goals and course of action. You will learn how clearly stated mission statements add focus to the organization's efforts. You will learn the difference between operating decisions and strategic decisions and what a strategic management decision process involves. You will also learn more about experience curves and how they are used in business strategy. Finally, you will learn about doom loops, how a business can avoid getting into a doom loop, and what steps can help a business get out of a doom loop if they are already in one.
This course will be of great interest to all professionals working in management, who are involved in making strategic decisions, and to all learners who would like to learn more about the role of strategic management in business.
Having completed this course you will be able to: - Define the concept of strategic management; - Describe the principles of strategic planning; - Explain what a Mission Statement is for organizations; - Describe what a business mission can achieve; - Describe Goodness of Fit Test, Competitive Advantage Test, and the Performance Test; - Compare and contrast operating decisions and strategic decisions; - Explain the concept of strategic flexibility; - Describe the Strategic Management Decision Making Process; - Explain the concept of business strategy; - Describe cost dynamics with examples; - Explain experience curves; - Describe doom loops and how businesses fail.
All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire official Certification, which is a great way to share your achievement with the world. Your Alison Certification is:
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