MGS526 - Business Strategy and Strategic Decision Making
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|Last revision date||Oct 12, 2012 4:45:53 PM|
|Last review date||Oct 12, 2012 4:45:53 PM|
Business Strategy and Strategic Decision Making
Business strategy is the development and utilization of specific qualities and characteristics that set your business apart form the other businesses within your industry. Your business strategy defines your position in the marketplace and distinguishes you from your competition. It determines your market identity, reflects the core values of your business, and drives what actions you must take to maintain and support your competitive advantage. A viable and compelling business strategy is the result of a comprehensive decision-making process. Though it is also referred to as strategic planning, the reality is that it is Management's strategic decision-making to emphasize the importance of making the tough decisions that make a difference in how you run your business.
Upon successful completion of this subject the student will be able to:
Upon successful completion of this subject the student will be able, by reference to "theory" versus "Real World" examples:
1. Explain the fundamental pluralistic strategies that must be accounted for in designing A BUSINESS PLAN to achieve "Real World" competitively sustainable successful financial/economic performance that compliments all stakeholder issues not just the profit maximization principles implicit to traditional strategic business management concepts.
2. Compare and contrast and therefore comprehend the winning strategies of successful Corporations that developed competitive advantage via strategic stakeholder management versus the incompetent decision making dynamics of the "losers".
3. Define and explain what competitive advantage fundamentals can be developed to differentiate any business venture from the industry competition in terms of comparative business cost equations re: managerial process, governanace, culture, economics, logistics, operations, marketing, organization, etc.
4. Evaluate the environmental challenges that business must competitively address to cope with the political and legal factors encompassing the stakeholder community with respect to ethical and social responsibilities encompassing corporate domestic and global governance.
5. Analyze the key performance factor and competitive realities of "winning" versus "losing" strategies as evidenced by actual comparative outcomes using the Case Study method.
6. Analyze core business fundamentals involved in Pluralistic Strategic Stakeholder Management specifically the design of qualitative and quantitative objectives plus the business plan to successfully implement, execute and monitor post mortem results to achieve distinctive comparative competitive advantage using the Case Study method.
7. Apply the business theories learnt in previous Business Faculty Management courses within the Strategic Business Equation to achieve wealth creation plus Pluralistic Strategic Stakeholder Management success in "Real World" performance.
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