Strategic Management

Participants in this seminar learn

• to develop strategies methodically, using proven, practical tools from business consultancies.
• how to efficiently control and coordinate the processes of developing and implementing strategy.

Subjects

The Concept of Strategic Management

Introduction to the basic philosophy of strategic management, history of strategic management, empirical insights, methodologies and practical application of strategic management:

• Strategy as turning point for the future
• The most important strategic questions
• The process of strategy formulation and strategy implementation: the strategy approach
• Strategic management in turbulent times

Business Segments as Planning Units

Segmenting a corporation or division strategically in order to get meaningful units for strategic planning.

• Business segments as strategic planning units
• Segmentation: options, approach
• Best-practice examples and tools

Recognizing the Strategic Call for Action

Enduring success with current business models often masks the need for change. Conserving success the old way, using proven concepts is easy. In this context, anyone who sees and warns of a coming crisis is often viewed as a nuisance. Ignoring early warning signals, however, often cause firms to postpone required changes until the situation finally provokes renewal. By this point, however, financial results may have deteriorated to such a degree that orderly action is impossible. When visionary minds try to convince management of the urgency of untimely change - often in an exaggerated way - the firm can find itself facing disaster. 

Neither ignorance nor exaggeration are effective strategic behaviors. We at SGMI recognize that it is necessary to moderate between evolutionary development and radical change. This Strategic Management course, thus, covers the following topics:

• Anticipation and early recognition of changes
• Key analytical methodologies; practical exercises with structured tools and best-practice examples
• Driving forces for new strategies
• Demonstration of strategic call for action

Promising Strategic Options

The sooner management addresses the various ways to safeguard the future the firm, the more winning options remain for the firm to choose.

• Ways to develop promising strategic options
• How to assess strategic options and evaluate their advantages, disadvantages and prerequisites for their implementation
• How to appraise strategic options in terms of feasibility and success potential

Strategy Formulation

Strategies are crafted following an evaluation of the most promising future strategic options. Good strategies are simple, concise and easy to communicate; they can be unfolded and integrated into everyday business life.

• Who should participate in the strategy development team?
• Concise strategy formulation; best-practice examples
• Methods and tools for strategic planning
• Assessment of feasibility and quantification of strategies
• Functional strategies
• The impact of new media and digital strategies

Changing Structures

Usually, organizational structures are advantageous only for a certain time and business situation. Strategic change often dictates change of organizational structures. Unfortunately, "structure follows strategy" is often misinterpreted as "structure follows trend."

Successful Implementation of Strategies

Implementation is not just the final act of the strategic process. The weather gauge for implementation demonstrates that every single step of the implementation process needs to be managed diligently.

• Knowing and overcoming barriers to implementation
• Implementation as a managerial responsibility