|Lecture hours per week||3|
|Lab hours per week|
This course provides an in-depth understanding of business strategies and of the specific ways in which these strategies are implemented throughout organizations. Students will learn how businesses and projects are managed proactively with a focus on long-term strategy.
Strategic management is about developing action plans that are designed to achieve organizational goals. It involves first identifying specific goals for a firm, analyzing both the internal and external business environments, developing strategies to achieve those goals, implementing those strategies, and reevaluating those strategies on a regular basis. Strategic management is applicable to both small and large organizations because even the smallest organizations face competition, and by formulating and implementing appropriate strategies, an organization can attain a sustainable competitive advantage.
This course is a capstone of the business major as it incorporates elements from previous semester courses. Students should be familiar with the functional areas of business, ethics, and management concepts to some degree; however, strategic management ties them all together.