MGMT20112  Strategy Formulation & Initiatives

Due to the integrative nature of this course, the Faculty recommends that it be undertaken towards the end of a Masters program after the completion of all other core courses. Students are encouraged to seek program advice prior to enrolment.

This course introduces students to the principles and practices of strategic management, and examines the developing of strategic initiatives and the formulating of sound strategies. It will discuss the main approaches to strategic management in general and business policy formulation in particular. It will explore the tools and techniques for developing strategic initiatives currently used by executives, strategic planners and scholars. The course will stress the integrative and international nature of modern strategy formulation, and the vital link between strategic initiatives and their implementation. Throughout the course, students will be involved in experiential exercises of a practical nature to hone their skills as decision-makers.

At the end of this course, students will be able to:

• discuss the role and significance of strategy in enterprises
• identify and discuss the major approaches to strategy formulation
• synthesise the impact of power, structures, systems and culture on the strategy development process
• identify and evaluate the main tools, techniques and processes of strategy formulation and the development of strategy formulation
• identify and discuss the main techniques whereby strategists can gain acceptance and empower people during the strategy development process
• identify and discuss the continuous two-way link between strategy development and strategy implementation