Unlike other business courses that concentrate narrowly on a particular function or piece of the business—accounting, finance, marketing, production, human resources, or information systems, strategic management is a big picture course. It cuts across the whole spectrum of business and management. The center of attention is the total enterprise–-the industry and competitive environment in which it operates, its long-term direction and strategy, its resources and competitive capabilities, and its prospects for success.
Throughout the course, you’ll learn what we mean by a company’s strategy, the concept of a sustainable competitive advantage, the five most basic strategic approaches for setting a company apart from rivals and winning a sustainable competitive advantage and how a company’s strategy tends to evolve because of changing circumstances and ongoing efforts by management to improve the strategy.
You’ll be called on to probe, question, and evaluate all aspects of a company’s external and internal situation, throuh case studies and a specific business game. You’ll grapple with sizing up a company’s standing in the marketplace and its ability to go head-to-head with rivals, learn to tell the difference between winning strategies and mediocre strategies, and become more skilled in spotting ways to improve a company’s strategy or its execution.