571-LSMI: Strategic Management I
Competitive environments are complex and require managers to be nimble and decisive. To help managers make better decisions, this course covers fundamental concepts and principles in management strategy, exposing learners to current academic thinking and strategic management practices. Students will study the history and current state of business strategy, and learn how objectives guide the creation of an organization’s strategy. The course explores the idea of sustained competitive advantage and considers different frameworks for understanding the business environment of an organization. Through a hands-on assignment, students will learn how to analyze an industry and use the analytical tool Scenario Analysis to help make sense of uncertain futures. They will also apply the TOWS Analysis technique to identify threats and opportunities that an organization can best respond to, given its existing strengths and weaknesses. Finally, students will learn how to differentiate an organization’s mission from its vision, identify espoused values, and create a solid strategy statement.
After completing this course, learners will be able to:
- explain the connection between management strategy and successful organizational performance;
- apply several analytical frameworks to an organization’s external environment, and explain how the structural features of an industry influence competition and profitability;
- outline the complexities of trying to predict the future in the context of a company’s specific situation;
- apply a framework to evaluate an organization’s potential to use its resources and capabilities to confer sustainable competitive advantage.
- Lesson 1: Introduction to Strategic Management
- Lesson 2: The Competitive Environment of an Organization
- Lesson 3: Analytical Tools and Processes
- Lesson 4: Seeking Competitive Advantage
Students will be evaluated based on their participation in weekly online discussions (50%), and one case study assignment (50%). To pass the course, students must achieve 60% or more on each of the credit activities.
This four-week course is worth 1 credit of graduate-level study.