BMGT 265 Managing Strategically

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Strategic Management is the culmination of a Business Management Diploma. Students will analyze the resources and capabilities of the organization and the industry environment to identify opportunities and threats. Using this analysis and the knowledge gained in previous courses in marketing, finance, operations, and management, students will make management decisions that affect business performance. In doing so, students will not only think about personal functions but also formulate coherent strategic alternatives in order to obtain final supportive sentences.

Strategic management is the process of setting goals, procedures and objectives aimed at increasing the competitiveness of a company or organization. Typically, strategic management focuses on the efficient use of people and resources to achieve these goals. Typically, strategic management includes a strategic assessment of the entire company, internal analysis of the organization, and strategy execution.

In business, strategic management is important because it allows companies to analyze areas for operational improvement. In many cases, they can follow an analysis process that identifies potential threats and opportunities, or simply follow general guidelines. Given the organizational structure, companies can choose a prescriptive or descriptive approach for strategic management. The regulatory model sets out a development and implementation strategy. In contrast, the descriptive method describes how the company develops these strategies.

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