- Commonwealth of Learning (COL)
The aim of this Strategic Planning Course is to describe to entrepreneurs how to plan the activities of their business to ensure competitive advantage and subsequent sustained profitability. They will be able to identify strategies, give scope and direction to their business, and make the right decisions based on matching strategies with available resources and capabilities. A number of theories, concepts, tools and techniques will be described and applied to hypothetical and real business situations. Strategic management tools such as Porter’s Five Forces model, PESTEL & SWOT analysis will be operationalized in a practical, hands‐on approach to learning. The course will therefore systematically expose the learner to a number of concepts and tools which will be applied to the context of the business enterprise. The common thread of the whole course will be the strategic management process.
1. Define strategic planning and distinguish it from business planning
2. Describe the steps in the strategic management process as comprising the steps of a strategic plan
3. Distinguish between Vision and Mission
4. Complete an environmental scan, internal and external
5. Perform a SWOT analysis.
6. Assess and choose strategies from the SWOT and set goals ad objectives based on resources and capabilities
7. Examine the process of strategy implementation with regards to human resource issues, structural and other considerations
8. Establish performance measures to asses the original goals and objectives
9. Evaluate strategies with a view to bring any corrective action following changes in the business environment.
1. Strategic planning - An overview
2. Environment analysis
3. Strategy formulation & implementation
4. Controls and performance measures