Administrative Practice
There are no prerequisites.

Course Description

Strategic Management introduces, explains, and analyzes the activities needed to develop, select, implement, and evaluate a firm's competitive strategy. This course focuses on both the content of a firm's strategy and the process by which this strategy is developed and executed. This course is designed to illustrate development, formulation, implementation, and evaluation of business strategy. Emphasis is placed on the need for awareness of, and accommodation to, changes in an organization's internal and external environments. Generic types of business strategies and techniques for analyzing strategies are also covered.


Delta Publishing

For many years, Delta Publishing has offered a wide variety of continuing education courses for financial professionals. Topics covered by Delta’s courses include accounting, financial management, budgeting, investments, financial statement reporting, business management, IFRS, ethics, valuations, real estate, and business writing. The diversity and breadth of Delta’s course offerings make the company a prolific and unique contributor to the CPE world. Delta’s well-credentialed authors and contributors have also been published in numerous academic and professional journals and quoted by some of the leading financial media outlets.

Course Specifics

Administrative Practice
Jan 4, 2018
There are no prerequisites.

Compliance Information

Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Define strategic management
  • Discuss the three phases of the strategic management process
  • Outline the strategic planning process
  • Define guiding philosophy, purpose, mission, objectives, and strategies
  • Explain the reason for organizational policies
  • Differentiate between long- and short-range objectives
  • Discuss corporate, business, and functional strategies
  • Compare and contrast social responsibility (CSR) and business ethics
  • Explain what a strategic business unit (SBU) is

Chapter 2

  • Explain environmental analysis
  • Describe the relationship among environmental analysis, competitive analysis, and internal appraisal
  • Discuss some of the characteristics of an organization's environment
  • Explain the three major steps involved in environmental analysis
  • Describe the six major environmental forces that can influence an organization
  • Explain both qualitative and quantitative forecasting techniques
  • Define scenario planning

Chapter 3

  • Present the five forces of competition model
  • Identify opportunities and threats
  • Identify strengths and weaknesses
  • Describe how to assess the competitive positions of rival companies
  • Describe the process of industry and competitive analysis
  • Present the concept of the industry life cycle and discuss issues involved in the analysis of industry structure
  • Summarize the major issues in determining key success factors (KSF) in an industry
  • Discuss product life cycle

Chapter 4

  • Describe the internal appraisal process
  • Identify nine areas that organizations should analyze in performing an internal appraisal
  • Discuss resources and capabilities (or competencies) as the fundamental building blocks of a firm's strategy
  • Outline the VRINE framework for competitive advantage
  • Distinguish between long- and short range organizational objectives
  • List several potential areas for establishing long range objectives
  • Describe the basic steps in a SWOT analysis
  • Outline value chain, cost driver, and core competencies analyses

Chapter 5

  • Distinguish among corporate, business, and functional strategies
  • Explain the characteristics of a stable growth strategy
  • Describe three general approaches to pursuing a concentration strategy
  • Define vertical integration
  • Discuss the difference between concentric and conglomerate diversification
  • Distinguish among mergers, and acquisitions (M&As) and joint ventures
  • Explain a takeover and tender offer
  • Describe a harvesting strategy
  • Discuss the defensive strategies of turnaround, divestment, liquidation, filing for bankruptcy, and becoming a captive
  • Distinguish among generic competitive strategies: overall cost leadership, differentiation, and focus strategies

Chapter 6

  • Apply the Balanced Scorecard to your company
  • Describe the BCG's growth-share matrix
  • Define cash cows, dogs, question marks, and stars as they are used in the growth-share matrix
  • Outline the GE's model
  • Discuss the life cycle approach to strategy evaluation and selection
  • Describe the profit impact of market strategy (PIMS) approach to strategy evaluation and selection

Chapter 7

  • Design organizational structures that help implement a chosen strategy
  • Discuss how to build the strategy implementation framework
  • Achieve various types of synergy
  • Distinguish among four types of operations strategy
  • Explain the concept of Management by Objective (MBO)
  • Discuss Total Quality Management (TQM)
  • Manage change

Chapter 8

  • Outline the control process step by step
  • Describe the pros and cons of various corporate performance measures
  • Define benchmarking
  • Differentiate conventional planning and discovery-driven performance
  • List financial and nonfinancial measures of performance

Chapter 9

  • Discuss reasons for the rising internationalization of business
  • Discuss the characteristics of global industries
  • Define multidomestic and global industries
  • Determine strategies in global markets
  • Outline the role of national factors in global strategy
  • Identify generic strategies companies may pursue in global industries
  • Apply the CAGE framework to finding the foreign location

Table of Contents

Chapter 1 – Strategic Management: An Overview

Learning Objectives

Defining Strategic Management

The Strategic Management Process

Strategic Planning

Defining the Organization’s Guiding Philosophy

Developing Organizational Policies from the Guiding Philosophies

Defining the Organization’s Purpose

Defining the Organization’s Mission

Mission and Management

Mission and Stakeholders

Changing the Mission

Uniting for a Mission

Strategic Vision vs. Mission

Establishing Organizational Objectives

Selecting a Strategy

Identifying a Strategy

Hierarchy of Strategy

Exhibit 5

Hierarchy of Strategies

Strategic Business Units

Strategy and Corporate Social Responsibility

CSR Best Practice

Strategy and Ethics: Passing the Test of Moral Scrutiny

Chapter 1 Review Questions

Chapter 2 – Environmental Analysis

Learning Objectives

Environmental Analysis

Defining the External Environment--PESTEL analysis

Scanning and Forecasting

Environmental Forecasting Methods

Scenario Planning

Chapter 2 Review Questions

Chapter 3 – Industry and Competitor Analysis

Learning Objectives

Porter Five Forces Model

Industrial Attractiveness and Industry Life Cycle

Key Success Factors (KSFs)

Competitor Analysis

Product Life Cycle

Competitive Positioning

Assessing Competitors

Chapter 3 Review Questions

Chapter 4 – Internal Appraisal

Learning Objectives

Responsibility for Performing an Internal Appraisal

Areas Covered by Internal appraisal

Financial Position

Product/Service Position

Product/Service Quality

Marketing Capability

Research and Development Capability

Organizational Structure

Human Resources

Condition of Facilities and Equipment

Past and Current Objectives and Strategies

Resources and Capabilities

Resource and Capability Audits

The VRINE Criteria

Strategy and Internal Structure

Strategy and Internal Culture

SWOT Analysis

Establishing Long-Range Objectives

Mix of Organizational Objectives

Value Chain Analysis

Cost Drivers Analysis

Core Competencies Analysis

Chapter 4 Review Questions

Chapter 5 – Strategic Formulation

Learning Objectives

Corporate Strategy Alternatives

Stable Growth Strategies

Growth Strategies

Concentration Strategy

Vertical Integration


Concentric Diversification

Conglomerate Diversification.

Internal Growth vs. Merger or Acquisition

Reasons for Mergers and Acquisitions

Carrying Out Mergers and Acquisitions

Harvesting Strategies

Defensive Strategies

Combination Strategies

Business (Competitive) Strategy Alternatives

Overall Cost Leadership


Focused Low-Cost Leadership

Focused Differentiation

Integrated Positions

Chapter 5 Review Questions

Chapter 6 – Strategic Choices

Learning Objectives

Strategic Fit

Business Portfolio Matrices

Boston Consulting Group's Growth-Share Matrix

GE’s Planning Grid

Precautions and Assumptions in the Use of the Growth-Share Matrix and Planning Grid

Competitive Strategy Formulation

Life-Cycle Approach

Profit Impact of Market Strategy (PIMS) analysis

Nine Basic PIMS Proposition on Business Strategy

Chapter 6 Review Questions

Chapter 7 – Strategic Implementation Issues

Learning Objectives

Designing Organizational Structures

Implementation Framework

Achieving Synergy

Monitor and Control

Operations Strategy

A Cost Strategy

A Quality Strategy

A Speed Strategy

A Flexibility Strategy

Management by Objectives (MBO)

Total Quality Management (TQM) Concept

Management of Change

Chapter 7 Review Questions

Chapter 8 – Strategic Evaluation and Control

Learning Objectives

Evaluation and Control in Strategic Management

Measuring Performance

Measures of Corporate Performance

Value Added Measures

Shareholder Value

Economic Value Added (EVA)

Evaluation of Top Management

Management Audits

Measures of Divisional and Functional Performance

Investment Decisions under ROI and RI

Control and Business Unit Strategy

Responsibility Centers


Discovery-Driven Planning

Strategic Information Systems

Problems in Measuring Performance

Short-Term Orientation

Goal Displacement

Behavior Substitution


Guidelines for Proper Control

Strategic Incentive Management

A Guide to Performance Measurement and Non-Financial Indicators -- The Need for a Range of Performance Measures

Who Does the Analysis?

Financial vs. Non-Financial

The Case for Non-Financial Performance Indicators

1. Manufacturing and Production Indicators

2. Sales and Marketing Indicators

3. People Indicators

4. Research and Development Indicators

5. Environment Indicators

Balanced Scorecard

Chapter 8 Review Questions

Chapter 9 – Crafting Global Strategy

Learning Objectives

Reasons for Rising Internationalization of Business

Global Industries

International Strategic Choices

Determining the Company's Preparedness for International Operations

Market Factors

Competitive Factors.

Government Regulations

Considering the Mode of Entry

Wholly Owned Subsidiaries

Global Strategic Alliances

Choice of Entry Mode

Configurations of International Operations

Generic International Strategies

Organizational Structure and International Operations

Evaluating and Managing Interdependence

Managing the Corporate-Subsidiary Relationship

The Role of National Factors in Global Strategy

The CAGE framework--to Choose Foreign Countries

Cultural Distance

Administrative Distance

Geographic Distance

Economic Distance

Chapter 9 Review Questions

Review Question Answers and Rationales



Qualified Assessment

Answer Sheet

Course Evaluation

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