Description

Description: Mastery of the skills and professional conduct is required for strategic planning and corporate social responsibility in diverse business

contexts. This course provides the tools and critically evaluate the commercial, social, environmental and ethical factors impacting strategy in modern business.

Background: The process of crafting a strategy is a systematic sequence of activities that begins with an analysis of the external environment. It is essential to understand the interaction of the external and internal environments and their influence on the firm and how they impact the choice of strategy.

This includes the process of forming a vision after analyzing the external and internal environments. Some strategists suggest a holistic vision comes prior to analysis, with others suggesting analysis drives the vision. Irrespective of this lack of consensus, developing vision and values, designing and executing strategy are determined by the extent and power of forces in the external environment and the internal capabilities of the firm to achieve the vision, with the success of a strategy reliant on two vital factors.

The external environment contains the following parts:

• Relevant components of a company’s external environment
• Assessing the company’s industry and competitive environment
• Five forces framework
• Strategic group analysis
• Key success factors (KSFs)
• Mission and vision and values