Business Policy and Strategy

1. Analyze internal and external environments of organizations
2. Formulate effective business strategies
3. Implement strategies effectively
4. Evaluate and control strategic outcomes
5. Understand the role of ethics in strategic decision-making

13 weeks, about 26 hours in total. Yours will differ.

1. Week 1Module 1: Dimensions of Business Policy and Strategy

   • Unit 1: Conceptual Mining of Business Policy and Strategy · 2 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..

2. Week 2Module 1: Dimensions of Business Policy and Strategy

   • Unit 2: The Nature and Value of Strategic Management · 2 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..

3. Week 3Module 1: Dimensions of Business Policy and Strategy

   • Unit 3: Vision, Mission and Objectives · 2 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..

4. Week 4Module 1: Dimensions of Business Policy and Strategy

   • Unit 4: Environmental Analysis · 2 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..

5. Week 5Module 1: Dimensions of Business Policy and Strategy

   • Unit 5: Assessment of Companies · 2 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..

6. Week 6Module 2: Strategy Formulation and Policy Interrelationship

   • Unit 6: Company Strategy · 2 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.

7. Week 7Module 2: Strategy Formulation and Policy Interrelationship

   • Unit 7: Strategy Implementation · 2 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..

8. Week 8Module 2: Strategy Formulation and Policy Interrelationship

   • Unit 8: Strategy Evaluation and Control · 2 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..

9. Week 9Module 2: Strategy Formulation and Policy Interrelationship

   • Unit 9: Basic Policy Areas · 2 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..

10. Week 10Module 3: Practical Issues of Strategy Formulation

    • Unit 10: Marketing Policy · 2 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.

11. Week 11Module 3: Practical Issues of Strategy Formulation

    • Unit 11: Production Policy · 2 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..

12. Week 12Module 3: Practical Issues of Strategy Formulation

    • Unit 12: Procurement Policy · 2 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..

13. Week 13Module 3: Practical Issues of Strategy Formulation

    • Unit 13: Financial Policy · 2 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..