Strategy involves the coordination and integration of the efforts within the different functional areas of an organization for dealing with an uncertain future. This includes formulating a business strategy for each individual unit of the firm, formulating a corporate strategy, and implementing these strategies.
Strategy formulation involves understanding the business the firm is in, determining how to position the strategic unit within this business environment, and developing the capabilities to compete, but also to cooperate, in this environment. Therefore, strategy at the same time coordinates and integrates the individual functional strategies such as manufacturing, marketing, sales, and finance.
You will be introduced to analytical tools required in the process of strategic planning, learn how to apply strategic positioning techniques to the analysis of the firm and prepare a strategic plan, evaluate possible alternative strategies, and select an appropriate future strategy for the firm.
Class sessions will be a mixture of lectures, case studies, site visits, and guest speeches. In class, each student will take a perspective of a general manager, who has overall responsibility for the performance of the firm or of a business unit within the firm.