This is the first time that I am taking the Strategic Management course. This course is usually taken by business students (in MBA) or even IT students since a lot of their subjects are business-related.
All I know about Strategic Management is that it is a high-level subject where the management plans the direction of the organization.
We had a brief discussion of the Product Lifecycle where the goal is to reach the maturity peak and remain there, otherwise the business will fall. (case on Nokia for instance)
Some questions that are asked include:
- Where are we?
- Where do we want to go?
- How do we get there?
Some strategy approaches include:
- Industry Life Cycle
- Critical Success Factors Analysis
- Value Chain
- Porter’s 5- forces
Again, this is a very new subject for me especially because this is a management course. I really need to remove my technical cap and wear a “simulated management” cap to understand and enjoy the course.