LRM 714: STRATEGIC MANAGEMENT & INNOVATION – 2 Units
Course Purpose
The purpose of this course is to equip students with the knowledge and skills to develop and implement innovative business strategies in a rapidly changing global environment. Students will learn to analyze both internal and external factors affecting organizations and to formulate strategies that ensure long-term competitive advantage.
Course Expected Learning Outcomes
By the end of the course, students should be able to:
- Explain the fundamental principles of strategic management, including goal setting, value creation, and global integration.
- Conduct thorough external and internal analyses to identify opportunities and threats.
- Develop comprehensive strategic plans that align with organizational goals and market conditions.
- Present strategic plans and decisions clearly and persuasively to stakeholders.
Course Content
This Course includes:
- Introduction to Strategic Management: Overview of strategic management concepts, evolution, and process.
- External Environmental Analysis: Industry analysis, Porter’s Five Forces, PESTEL analysis, and scenario planning.
- Internal Organizational Analysis: Resource-based view, VRIO framework, and value chain analysis.
- Strategy Formulation: Developing business-level and corporate-level strategies, including growth strategies, diversification, and strategic alliances.
- Strategy Implementation: Techniques for executing strategic plans, change management, and leadership.
- Innovation in Strategy: Integrating innovation into strategic planning, managing innovation processes, and fostering a culture of innovation.
- Ethical and Social Responsibility: Corporate governance, ethics, and social responsibility in strategic management.
Reading Materials
- Strategic Management by Kennedy B. Reed
- The Delta Project: Discovering New Sources of Profitability by Arnoldo C. Hax and Dean L. Wilde
- The Strategy Concept and Process: A Pragmatic Approach by Arnoldo C. Hax and Nicolas S. Majluf