Strategic management is the ongoing planning, monitoring, analysis and assessment of all the necessities an organization needs to meet its goals and objectives. Changes in business environments will require organizations to constantly assess their strategies in order to strive for success.

The term ‘Strategic Management’ is used to denote a branch of Management concerning; the development of strategic vision, setting out objectives, formulating and implementing strategies, and introducing corrective measures for any deviations to reach the organization’s strategic intent. It has two objectives:

1. To gain competitive advantage, with an aim of outperforming the competitors, to achieve dominance over the market.
2. To act as a guide to the organization to help in surviving the changes in the business environment.
3. Management is responsible for monitoring the external environment closely enough to know when to initiate strategy change. They have to know the business and organization well enough to know what kind of changes to initiate. In conclusion, the fundamentals of strategic management are needed to drive the whole approach to managing organizations.

After completion of this program, participants will be able to:

• Understand the concept and crux of strategic management
• Formulate vision, mission and core values to set strategic objectives
• Conduct comprehensive internal and external situation analyses
• Craft corporate, business, functional and operations strategies as well as prepare strategic courses of actions
• Develop the required strategy implementation support systems & resources, and lead the implementation of strategic plans