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Strategic management is concerned with managing an organisation from a total enterprise perspective. It deals with the decisions and actions involved in formulating organisation-wide strategies and in managing an organisation’s operations in a way that effectively carries these strategies out. Every aspect of the organisation plays a role in this process, for example, its people, finances, production methods, organisation structure, environment and organisational culture. This is the reason why strategic management is such a complex and often ambiguous process, as it has to deal with many variables and issues simultaneously and has to take conflicting interests and approaches into consideration.
This unit will provide students with a working model of the strategic management process, and develop students’ abilities to think strategically about an organisation, for example, its position in the market place and how it can gain sustainable competitive advantage. The unit will build students’ skills in conducting strategic analysis in different industries and competitive situations, and improve students’ abilities to manage the organisational processes by which strategies are implemented.