Bba 4951 Business Policy And Strategy Course Description

Bba 4951 Business Policy And Strategy 1course Description An Overv

This course provides an overview of strategic management, introducing a practical, integrative model of the strategic-management process. It covers fundamental activities and terminology in strategic management, discusses the benefits of strategic planning, and explores the relationship between business ethics and strategic management. The course uses the textbook by David, F. R. (2011), "Strategic management: Concepts and cases" (13th edition), as the primary resource. Students will learn to analyze strategic nuances, evaluate external and internal audits, assess strategies in action, and understand the processes of strategy selection, implementation across various business functions, and strategy evaluation and control. The course incorporates case studies, assessments, and a final proctored exam, emphasizing APA formatting and scholarly research throughout. It aims to develop critical thinking and practical skills to formulate, implement, and evaluate effective strategies in diverse business environments.

Paper For Above instruction

Strategic management is a crucial component of contemporary business operations, serving as the foundation for organizations seeking sustained competitive advantage and long-term success. The course BBA 4951, "Business Policy and Strategy," offers students a comprehensive understanding of the strategic management process, emphasizing real-world application, ethical considerations, and strategic analysis tools. This paper explores the key concepts taught in the course, the importance of strategic management, and the practical skills students develop to become strategic thinkers and decision-makers.

At its core, strategic management entails the formulation, implementation, and evaluation of cross-functional decisions that enable an organization to achieve its objectives. The course begins with an overview of the strategic management process, highlighting the importance of vision and mission statements in guiding the company's strategic direction. These foundational elements articulate where the organization aims to go and the core purpose that drives its activities. Analyzing these components helps align internal capabilities with external opportunities and threats, ensuring strategic coherence and focus.

Understanding the external audit process is vital for identifying macroeconomic, industry-specific, and competitive forces that influence organizational success. Tools like PESTEL analysis and industry surveys provide insights into external opportunities and threats, crucial for strategic positioning. Conversely, internal audits assess organizational strengths and weaknesses using frameworks like the SWOT analysis. Integrating both external and internal analyses allows students to develop a comprehensive understanding of strategic environments and formulate effective strategies.

The course stresses the importance of evaluating strategies in action, which involves assessing strategic fit, resource allocation, and organizational capabilities. Evaluating strategy effectiveness requires adherence to strategic goals, market responsiveness, and adaptability. The strategy analysis process incorporates various frameworks, such as SPACE matrices and BCG growth-share matrices, which facilitate the evaluation of strategic positions and options. Students also learn the critical process of selecting appropriate strategies based on their analysis, considering factors like corporate scope, competitive advantage, and risk.

Implementing strategies across different organizational functions—management, operations, marketing, finance, R&D, and MIS—is another focal point. Effective strategy implementation necessitates coordination among departments, clear communication, and appropriate resource deployment. The course emphasizes how functional strategies should align with overall corporate strategy, supporting organizational coherence and operational efficiency.

Monitoring and controlling strategy involve ongoing evaluation of performance through metrics and feedback systems. Strategy review, evaluation, and control help organizations adapt to changing environments, ensuring strategies remain relevant and effective. Emphasis is placed on the ethical responsibilities of strategic decision-making, reinforcing the integration of business ethics into strategic planning and execution.

The course culminates with an exploration of global strategies, acknowledging the importance of internationalization, cross-cultural considerations, and global competition. Students analyze case studies, such as McDonald's and Starbucks, to understand how multinational corporations adapt strategies to different markets and uphold social responsibility and environmental sustainability.

Overall, this course equips students with analytical tools, strategic thinking skills, and practical knowledge necessary for effective decision-making in dynamic business environments. Through case studies, assessments, and scholarly research, students learn not only to develop sound strategies but also to consider their ethical implications and long-term impact on society and the environment.

References

• David, F. R. (2011). Strategic management: Concepts and cases (13th ed.). Pearson.
• Barney, J. B., & Hesterly, W. S. (2015). Strategic management and competitive advantage: Concepts and cases (5th ed.). Pearson.
• Porter, M. E. (1985). Competitive advantage: Creating and sustaining superior performance. Free Press.
• Peppard, J., & Ward, J. (2016). The strategic management of information systems: Building a digital strategy. Wiley.
• Grant, R. M. (2019). Contemporary strategy analysis and competition policy: Text and cases. Wiley.
• Kaplan, R. S., & Norton, D. P. (1996). Using the balanced scorecard as a strategic management system. Harvard Business Review, 74(1), 75-85.
• Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing. Pearson.
• Johnson, G., Scholes, K., & Whittington, R. (2017). Exploring corporate strategy. Pearson.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic management: Concepts and cases: Competitiveness and globalization. Cengage.
• Michael E. Porter. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86(1), 78-93.