Applied Business Strategy for Managers - Lecture 2 - Strategic Management Approaches

Course Overview

This is an overview of the entire subject, spanning 5 lectures/modules. Each module will relate to varying components of the whole subject overview.

This unit focuses on strategy and the study of strategic management theory in managing a company for the achievement of long term company objectives, competitive advantage and business profitability. This unit is designed to introduce you to
the processes of strategic analysis, strategy development, implementation and evaluation and to introduce you to the
foundations of strategic thinking and game theory. This course will develop your understanding of the importance of
developing sustainable competitive advantage in an increasingly dynamic, global and interconnected world. This unit aims
to develop your mastery of strategic thinking through understanding how to manage organisations for long-term success
by creating the value proposition, building competitive advantage and delivering outstanding results for all stakeholders.
This unit is essential for future business executives and business leaders, as it helps to realise the crucial importance of
setting a vision, mission and goals of the organisation, aligning these with strategic objectives and tactics necessary
strategies to attain benefit of all stakeholders.

Learning Objectives

This course will allow you to comprehensively understand:

• Strategic Management Approaches
• Prescriptive Strategy
• Emergent Strategy
• Strategic Thinking
• Design Led Thinking
• Game Theory
• Decision Making Models
• Models of Decision Making
• Strategic Frameworks & Models
• Perspectives on Strategic Directions & the Market Based View (MBV)
• VRIO Resource Based Framework & Knowledge Based View
• Relational and Transient Based Views
• Dominant Themes - Corporate Social Responsibility (CSR)
• Dominant Themes - Digital Distribution
• Corporate Governance &Ethical Leadership
• Strategic Management Approaches Summary