Oct 17th 2016

Strategic Management (Open2Study)

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Learn to proactively take control of your workplace and projects by making more strategic decisions and plans. Strategic management is one of the most important "hard skills" in business management. In Strategic Management, you'll learn how you can manage businesses and projects proactively with a focus on long-term strategy, rather than reacting to day-to-day hiccups.

In this subject, you'll learn about the role of strategic management in running a business, the difference between defensive and aggressive business strategies, taking a strategic position and recommending a strong business strategy. You'll also learn how to incorporate factors like competitor behaviour and market movements into your decision making.

What will you learn?

The principles of strategic management, including:

- How organisations use strategic management

- Strategic management theories and processes

- How to apply Porters Five Forces Model and use it for business analysis

- Potential strategic positions for organisations

Scanning, monitoring and analysing industries and markets for signs of strategic shift

Competitive strategic management strategies, including:

-The bargaining power of buyers and suppliers

- Competitor analysis

Management errors, including:

- Management biases, commitment errors, and reasoning errors

- How to improve strategic decision making