This course will give you an introduction to the concept of strategic management and how the principles which underlie strategic management can be used by management to formulate and implement large-scale goals and projects.
You will learn what a mission statement is and how if used correctly, it can achieve success for a business. You will study the parameters that should be included in a strategic plan and how long-term decisions can be determined by a strategic plan. These decisions include an organization’s objectives, goals and course of action. You will find out how a clearly-stated mission statement can add focus to the organization’s efforts.
The course will then show you the difference between operating decisions and strategic decisions, and the steps involved in a strategic management decision process. You will also learn more about experience curves and how an organization may use them in a business strategy. Lastly, you will study doom loops, how a business can avoid getting into a doom loop and the steps that a business can take to 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 the learner 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:
Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning
Alison offers 3 types of Certification for completed Certificate courses:
Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping
All Certification is available to purchase through the Alison Shop. For more information on purchasing Alison Certification, please visit our faqs. If you decide not to purchase your Alison Certification, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certification pricing, please visit our Pricing Page.