Understanding of concepts – Strategic management & its implications

Strategy is overall plan of a firm deploying its resources to establish a favorable position & compete successfully against its rivals.

It describe and determine an approach for the company that builds on its strength , vision & mission.

It has two approaches: top-down; bottom-up

1. Top down strategic planning describes an approach to strategy formulation in which

corporate centre determines mission, strategic intent, objectives & strategies for the

org. as a whole & for parts. Unit managers are seen as implementers of pre-specified

corporate strategies

2. Bottom up strategic planning is the approach where corporate center doesn’t

conceptualize its strategic role, rather, they prefer to act as a catalyst & facilitator,

keeping things reasonably simple & keeping itself to broader strategic intent

If you want to be a business owner or a corporate executive whose job involves business decisions,

then you will certainly need to equip with following concepts:-

• Corporate Strategy

• Strategy Management Process

• Theories of Corporate Strategy

Theories are :-

– Ansoff Model

– Porter Matrix

– Porter Generic Model

– Generic Strategic Theory

–  Glueck & Jauch Theory

These are interesting and important view points and to build a solid base for understanding  Corporate Strategy & management

Each of these concepts is explained in a clear and effective way and I tried cover most important topics with the necessary level of detail.

The course covers real-life examples, which makes it even more fun and easy to understand.