II.DESCRIPTION Analysis of the factors to be considered in the formulation and selection of strategies and policies for the development and operations of companies in local and international competitive markets. Core courses must have already been completed. Grade P/NP. III OBJECTIVES 1. Analyze how strategic leaders can manage the strategy-making process to achieve competitive advantage, and how it cango wrong. 1.1. Explain the concept of strategy and specify the relationships between superior performance, profitability, competitive advantage, and sustainable competitive advantage. 1.2. Identify the roles and responsibilities of strategic managers at different levels within the organization and outline the main components of the strategic management process. 1.3. Contrast the rational,deterministic view of strategy with alternate views. 1.4. Explain why formal strategic planning may not always lead to success, and identify ways of avoiding some of the common pitfalls associated with strategic planning.
1.5. Identify the attributes associated with superior strategic leadership and the barriers to effective strategic decision making and the techniques for improving decisionmaking. 2. Analyze how to succeed, a company must either fit its strategy to the environment in which it operates or be able to reshape the environment to its advantage through its chosen strategy. 2.1. Explain the importance of understanding the forces that shape competition in a company's external environment and how change gives rise to strategic opportunities. 2.2. Discuss the strategicimportance of each of Porter's five forces. 2.3. Examine the emergence of a sixth competitive force-complementors. 2.4. Describe the concepts of strategic groups and mobility barriers. 2.5. Discuss the industry life cycle, the limitations of the five forces, strategic group, and industry life cycle models. 2.6. Discuss the different forces in the wider macro environment and identify the forces that haveresulted in the globalization of production and markets. 2.7. Explain the concept of the value chain, and how distinctive competencies lead to superior efficiency, quality, innovation, and responsiveness to customers, which in turn allow a company to differentiate its products and lower its costs. 2.8. Describe how competitive advantage leads to higher profitability, and the factors thatinfluence the durability of a company's competitive advantage. 2.9. Discuss the steps that companies can take to avoid failure and sustain a competitive advantage. 3. Evaluate the nature of competitive advantage and why managers need to perform internal analysis, just as they must conduct industry analysis, to achieve superior performance and profitability. 3.1. Discuss how a company can build andmaintain a competitive advantage through its choice of functional strategies. 3.2. Analyze the different steps that can be taken at the functional level to improve a company's efficiency. 3.3. Analyze the different steps that can be taken at the functional level to improve the quality of the company's product. 3.4. Analyze the different steps that can be taken at the functional level to improve acompany's ability to innovate. 3.5. Analyze the different steps that can be taken at the functional level to improve a company's responsiveness to its customers.
4. Explain how functional-level strategies can be used to build a sustainable competitive advantage. 4.1. Analyze the main ways to compete in a business or industry. 4.2. Analyze Porter's generic strategies of cost leadership,...