MSEM 525 Strategic Management in a Globalized Economy

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The term "strategic management" refers to a systematic approach to planning and implementing a company's path to success. A large number of companies are seeking market share in limited markets where only a certain amount of money is available. This requires competitiveness. Globalization refers to the acceleration of international trade and the increasing degree of interdependence between the economies of different countries. Competitiveness and globalization are linked to strategic management, and understanding how these concepts relate to each other is essential to developing a successful long-term strategy for your business.

A business strategy can span multiple time frames and goals. For example, a strategy might focus on short, medium, or long term goals and might include goals for growth, brand development, market leadership, product differentiation, or infrastructure development. Goal setting is just the beginning of strategic management, which also includes establishing systems and processes to achieve goals, monitoring operations, and comparing results to benchmarks.

Course learning outcomes:

• Assess project management functions.
• Develop a strategic plan to improve efficiency and effectiveness.
• Development of processes for production and production systems.
• Develop strategies to manage and motivate a diverse workforce.
• Build and improve ethical project management.

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