Strategic Management - An Introduction

May 29th, 2015
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A. T. Still University
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After studying this unit the student will be able to -  Understand the concept of strategy and strategic management.  Know the process of strategic management  Know the levels of strategic management  Understand the various types of strategies  Explain its advantages and limitations  Know the roles of strategists play in strategic management.

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1INTRODUCTION TO STRATEGIC MANAGEMENTUnit Structure :1.0. Objective1.1Introduction1.2Meaning and definition of strategy.1.3Nature of business strategy1.4Strategic management process.a) Levels of strategy Corporate level strategy Business level strategy Operational level strategyb) Types of functional strategiesFunctional strategyH.R. StrategyMarketing strategyFinancial StrategyOperational strategy.1.5Benefits of strategic management. OBJECTIVESAfter studying this unit the student will be able to -Understand the concept of strategy and strategic management.Know the process of strategic managementKnow the levels of strategic managementUnderstand the various types of strategiesExplain its advantages and limitationsKnow the roles of strategists play in strategic management.1.1. INTRODUCTIONGlobalization of economy has brought about revolutionary changes in the policy framework of both developed and underdeveloped countries. The liberalization has removed artificial trade barriers and businesses have, now truly become international and the competition has become very severe. These developments gave rise to new paradigms in business policies and strategic thinking. Due to this there are drastic changes in conventional concept of business. The survival and success of the firm ,is influenced significantly by superior strategies like business have started focusing on customers and their satisfacti

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