Strategic Management for Technology based Firm
Strategic Management is the process by which a firm manages the formulation and implementation of its strategy, to achieve the goals of the firm. Strategy is derived from the Greek term, strategos, which means “the general’s view” of determining the direction of the firm, and how to allocate resources and integrated with the other functions of the firm. This course is particularly useful for entrepreneurs who are setting off with the opportunities identified and bringing their firms to achieve and sustain their competitiveness and employing relevant strategies in the changing landscape, through the various stages of the industry life cycle.
Our perspective is that of the CEO/General manager. The general manager may be a corporate president, a divisional chief executive, the head of an operating unit, or an owner-proprietor. An appreciation of the organization’s overall strategy is essential for functional specialists if they are to successfully coordinate their activities with the overall needs of the business.
The approach of the course is practical and problem-oriented. The major part of the course will involve applying concepts, analytic frameworks, and intuition to the strategic issues which real-world companies face.
- To acquire familiarity with the principal concepts, frameworks, and techniques of strategy formulation and execution.
- To gain expertise in applying these concepts, frameworks, and techniques in order to:
- Understand the reasons for good or bad performance by an enterprise.
- Generate strategy options for an enterprise.
- Assess available options under conditions of imperfect knowledge, select the most appropriate strategy, and recommend the best means of implementing the chosen strategy.
- To integrate the knowledge gained in previous and parallel courses.
- To develop your capacity as a general manager in terms of: an appreciation of the work of the general manager, the ability to view business problems from a general management perspective, and the ability to develop original and innovative approaches to strategic problems, thereby improving business judgment.