1.1 explain strategic contexts and terminology – missions, visions, objectives, goals, core competencies

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1.1 explain strategic contexts and terminology – missions, visions, objectives, goals, core competencies

Business Strategy

LO1 Understand the process of strategic planning

Strategic contexts and terminology: role of strategy; missions; visions; strategic intent; objectives; goals; core competencies; strategic architecture; strategic control

Strategic thinking: future direction of the competition; needs of customers; gaining and maintaining competitive advantage; Ansoff’s growth-vector matrix; portfolio analysis

 Planning systems: informal planning; top-down planning;

1.1 explain strategic contexts and terminology – missions, visions, objectives, goals, core competencies

1.2 review the issues involved in strategic planning

1.3 explain different planning techniques bottom-up planning; behavioural approaches

Strategic planning issues: impact on managers; targets; when to plan; who should be involved; role of planning

Strategic planning techniques: BCG growth-share matrix; directional policy matrices; SPACE, PIMS

LO2 Be able to formulate a new strategy

Stakeholder analysis: stakeholder significance grid; stakeholder mapping

Environment auditing: political, economic, socio-cultural, technological, legal and environmental analysis (PESTLE); Porter’s 5 force analysis; the threat of new entrants; the power of buyers; the power of suppliers; the threat of substitutes; competitive rivalry and collaboration

Strategic positioning: the Ansoff matrix; growth; stability; profitability; efficiency; market leadership; survival; mergers and acquisitions; expansion into the global marketplace

The organisational audit: benchmarking; SWOT analysis; product positions; value-chain analysis; demographic influences; scenario planning; synergy culture and values

2.1 produce an organisational audit for a given organisation

2.2 carry out an environmental audit for a given organisation

2.3 explain the significance of stakeholder analysis

LO3 Understand approaches to strategy evaluation and selection

Market entry strategies: organic growth; growth by merger or acquisition; strategic alliances; licensing; franchisin Substantive growth strategies: horizontal and vertical integration; related and unrelated diversification

Limited growth strategies: do nothing; market penetration; market development; product development; innovation

Disinvestment strategies: retrenchment; turnaround strategies; divestment; liquidation

Strategy selection: considering the alternatives; appropriateness; feasibility; desirability

3.1 analyse possible alternative strategies relating to substantive growth, limited growth or retrenchment

3.2 select an appropriate future strategy for a given organisation

LO4 Understand how to implement a chosen strategy

The realisation of strategic plans to operational reality: communication (selling the concepts); project teams; identification of team and individual roles, responsibilities and targets; programme of activities; benchmark targets at differing levels of the organisation

Resource allocation: finance; human resources; materials; time

Review and evaluation: an evaluation of the benchmarked outcomes in a given time period in relation to corporate, operational and individual targets

4.1 compare the roles and responsibilities for strategy implementation

4.2 evaluate resource requirements to implement a new strategy for a given organisation

4.3 discuss targets and timescales for achievement in a given organisation to monitor a given strategy.