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BUS428Management Sciences3 Unitsintermediate

Business Policy and Strategy

This course introduces business policy and strategic management, essential for professionals in today's competitive environment. It explores the development and implementation of business strategies, emphasizing the integration of strategic concepts and processes. Students will learn to analyze internal and external environments, formulate strategies, and implement them effectively. The course also covers key areas such as marketing, production, and financial policies, along with ethical considerations and global challenges in strategic management.

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96h

Study Time

13

Weeks

7h

Per Week

basic

Math Level

Course Keywords

Business PolicyStrategic ManagementStrategy FormulationImplementationEvaluation

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

➕

Math Level

Basic Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Strategic Management

2

Business Policy

3

Environmental Analysis

4

Strategy Formulation

5

Strategy Implementation

6

Strategy Evaluation

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Final Written Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Business Analyst

Apply your skills in this growing field

Management Consultant

Apply your skills in this growing field

Strategic Planner

Apply your skills in this growing field

Executive Manager

Apply your skills in this growing field

Policy Advisor

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

ConsultingManufacturingFinanceHealthcareTechnology

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Dimensions of Business Policy and Strategy

2h

Unit 1: Conceptual Mining of Business Policy and Strategy

2 study hours

•Understand the nature of policy and its establishment.
•Differentiate between policy, objectives, and procedures.
•Define business policy and its features.
•Distinguish between policy and strategy.

Week

2

Module 1: Dimensions of Business Policy and Strategy

2h

Unit 2: The Nature and Value of Strategic Management

2 study hours

•Comment on the origin and development of Business strategy
•Describe the key elements in the strategic management process.
•Describe the strategic-management process.
•Define and give examples of key terms in strategic management.
•Discuss the nature of strategy formulation, implementation, and evaluation activities.
•Describe the benefits, problems and risks of strategic management.

Week

3

Module 1: Dimensions of Business Policy and Strategy

2h

Unit 3: Vision, Mission and Objectives

2 study hours

•Describe the nature and role of vision and mission statements in strategic management.
•Discuss how clear vision and mission statements can benefit other strategic-management activities.
•Write good vision and mission statements.

Week

4

Module 1: Dimensions of Business Policy and Strategy

2h

Unit 4: Environmental Analysis

2 study hours

•Appraise the impact of external factors on strategic planning.
•Describe the competition and strength of the competitive forces.
•Assess industry attractiveness the prospects for above average profitability.

Week

5

Module 1: Dimensions of Business Policy and Strategy

2h

Unit 5: Assessment of Companies

2 study hours

•Pinpoint and comment on the available strategic tools for company assessment
•Demonstrate mastery of the following environmental analysis tools: Porter's Five Forces, Critical question analysis, SWOT analysis, PEST, Business portfolio analysis among several others.
•Explain why we should use TOWES instead of SWOT analysis.

Week

6

Module 2: Strategy Formulation and Policy Interrelationship

2h

Unit 6: Company Strategy

2 study hours

•Explain the issues involved in strategic alternative
•Comment on how organisations identify alternative courses of action for its survival and growth
•Discuss the basis for strategic alternative classifications
•Differentiate among the types of organization strategies
•Describe alternatives for integrating and implementing an acquisition

Week

7

Module 2: Strategy Formulation and Policy Interrelationship

2h

Unit 7: Strategy Implementation

2 study hours

•Clearly define the concept of strategy implementation.
•Explain why strategy implementation is more difficult than strategy formulation.
•Discuss the importance of annual objectives and policies in achieving organizational commitment for strategies to be implemented.
•Explain why organizational structure is so important in strategy implementation.

Week

8

Module 2: Strategy Formulation and Policy Interrelationship

2h

Unit 8: Strategy Evaluation and Control

2 study hours

•Define in clear term the concept of strategy evaluation
•Discuss the strategic evaluation process
•Describe practical framework for evaluating strategies.
•Explain why strategy evaluation is complex, sensitive, and yet essential for organizational success.
•Discuss the role of auditing in strategy evaluation.

Week

9

Module 2: Strategy Formulation and Policy Interrelationship

2h

Unit 9: Basic Policy Areas

2 study hours

•Explain the hierarchy of policies
•Highlight and comment on the gamut of policies that support a company strategy
•Identify the different organic functions of a business with basic policy outlook.

Week

10

Module 3: Practical Issues of Strategy Formulation

2h

Unit 10: Marketing Policy

2 study hours

•Comment on the different dimensions of product line policies
•Highlight and explain the scope of customer policies
•Discuss issues involved in the marketing mix policies
•Describe the specific issues by a company pricing policy

Week

11

Module 3: Practical Issues of Strategy Formulation

2h

Unit 11: Production Policy

2 study hours

•State policy issues relating to the extent of vertical integration
•Comment on company policies on the production process
•Explain policy decisions on how much capacity to operate
•Discuss the maintenance and replacement policies.

Week

12

Module 3: Practical Issues of Strategy Formulation

2h

Unit 12: Procurement Policy

2 study hours

•Discuss the intricacies of policies of make – or – buy decisions
•State the guides to make – or – buy decisions
•Explain the issues involved in vendor selection
•Present a tabular summary of the factors that informs vendor's selection.

Week

13

Module 3: Practical Issues of Strategy Formulation

2h

Unit 13: Financial Policy

2 study hours

•Explain the dimensions of a company policy on regulation investment in fix asset
•Discuss a company policy concerns relating to profit
•Comment adequately on the policies affecting distribution of earnings (Dividend)
•Describe the policies governing the deployment or otherwise of the various financial instrument
•explain the policy areas of a company financial structure.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a study schedule and stick to it.

2

Review all key concepts and definitions from each unit.

3

Practice analyzing case studies to apply theoretical knowledge.

4

Focus on understanding the strategic management process and its components.

5

Prepare summaries of each unit to aid recall.

6

Review all Tutor Marked Assignments (TMAs) and their solutions.

7

Practice time management during study and exam sessions.

8

Identify and focus on areas of weakness.

9

Create concept maps linking different units and modules.

10

Review past exam papers to understand the exam format and question types.

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