Strategic Management Damelin©
BCOM MARKETING AND BUSINESS MANAGEMENT
BCOM INFORMATION MANAGEMENT
BCOM BUSINESS MANAGEMENT
BUSINESS MANAGEMENT 3A /
STRATEGIC MANAGEMENT
STUDY GUIDE
2021
1
,Strategic Management Damelin©
COPYRIGHT © EDUCOR, 2021
All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any
form or by any means, including photocopying, recording, or other electronic or mechanical
methods, without the prior written permission of Educor Holdings. Individuals found guilty of
copywriting will be prosecuted and will be held liable for damages.
2
,Strategic Management Damelin©
Table of Contents
1. About Brand .................................................................................................................................... 7
2. Our Teaching and Learning Methodology ....................................................................................... 8
2.1 Icons ...................................................................................................................................... 10
3. Introduction to the Module........................................................................................................... 11
3.1 Module Information .............................................................................................................. 11
3.2 Module Purpose .................................................................................................................... 11
3.3 Outcomes .............................................................................................................................. 11
3.4 Assessment............................................................................................................................ 12
3.5 Planning Your Studies............................................................................................................ 12
4. Prescribed Reading........................................................................................................................ 12
4.1 Prescribed Book..................................................................................................................... 12
4.2 Recommended Articles ......................................................................................................... 13
4.3 Recommended Multimedia ................................................................................................... 13
5. Module Content ............................................................................................................................ 14
5.1 Study Unit 1 Strategic Management Essentials ..................................................................... 15
5.1.1 Introduction .................................................................................................................. 15
5.1.2 Definitions of Strategic Management............................................................................ 16
5.1.3 Stages of Strategic Management................................................................................... 16
5.1.4 Integrating intuition and Analysis.................................................................................. 17
5.1.5 Strategic management model ....................................................................................... 19
5.1.6 Benefits of Strategic Management ................................................................................ 20
5.1.7 Conclusion ..................................................................................................................... 22
5.1.8 Revision questions ......................................................................................................... 23
5.2 Study Unit 2: Outside -Use Strategic Planning....................................................................... 24
5.2.1 Introduction .................................................................................................................. 24
5.2.2 Multinational Organizations .......................................................................................... 24
5.2.3 Advantages and Disadvantages of entering global markets .......................................... 25
5.2.4 The Global Challenge ..................................................................................................... 26
5.2.5 Communication differences across countries ............................................................... 27
5.2.6 Business Cultures across Countries ............................................................................... 28
5.2.7 African Countries ........................................................................................................... 29
3
, Strategic Management Damelin©
5.2.8 Conclusion ..................................................................................................................... 30
5.2.9 Revision Questions ........................................................................................................ 32
5.3 Study Unit 3: Ethics/Social Responsibility and Sustainability ................................................ 33
5.3.1 Introduction .................................................................................................................. 33
5.3.2 Business Ethics .............................................................................................................. 34
5.3.3 Social Responsibility ...................................................................................................... 36
5.3.4 Environmental Sustainability ......................................................................................... 36
5.3.5 Conclusion ..................................................................................................................... 37
5.3.6 Revision Questions ........................................................................................................ 39
5.4 Study Unit 4: Types of Strategies........................................................................................... 40
5.4.1 Introduction .................................................................................................................. 40
5.4.2 Types of Strategies ........................................................................................................ 40
5.4.3 Michael Porter’s Five Generic Strategies ....................................................................... 42
5.4.4 Means for Achieving Strategies ..................................................................................... 43
5.4.5 Strategic Management in Non-Profit and Governmental organisations ....................... 45
5.4.6 Strategic Management in Small firms ........................................................................... 45
5.4.7 Conclusion ..................................................................................................................... 48
5.4.8 Revision Questions ........................................................................................................ 48
5.5 Study Unit 5: Vision and Mission Analysis ............................................................................. 49
5.5.1 Introduction .................................................................................................................. 49
5.5.2 What do we want to become?.......................................................................................... 49
5.5.3 What is our business? ................................................................................................... 50
5.5.4 Benefits of a clear Vision and Mission Statements........................................................ 51
5.5.5 Characteristics of a Mission Statement ......................................................................... 51
5.5.6 Revision Questions ........................................................................................................ 53
5.6 Study Unit 6: Internal Audit ................................................................................................... 54
5.6.1 Introduction .................................................................................................................. 54
5.6.2 Nature of an Internal Audit ........................................................................................... 54
5.6.3 Resource Based View .................................................................................................... 55
5.6.4 Management ................................................................................................................. 55
5.6.5 Marketing ...................................................................................................................... 57
5.6.6 Finance and Accounting ................................................................................................ 57
5.6.7 Production and Operations ........................................................................................... 59
5.6.8 Research and Development .......................................................................................... 59
4
BCOM MARKETING AND BUSINESS MANAGEMENT
BCOM INFORMATION MANAGEMENT
BCOM BUSINESS MANAGEMENT
BUSINESS MANAGEMENT 3A /
STRATEGIC MANAGEMENT
STUDY GUIDE
2021
1
,Strategic Management Damelin©
COPYRIGHT © EDUCOR, 2021
All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any
form or by any means, including photocopying, recording, or other electronic or mechanical
methods, without the prior written permission of Educor Holdings. Individuals found guilty of
copywriting will be prosecuted and will be held liable for damages.
2
,Strategic Management Damelin©
Table of Contents
1. About Brand .................................................................................................................................... 7
2. Our Teaching and Learning Methodology ....................................................................................... 8
2.1 Icons ...................................................................................................................................... 10
3. Introduction to the Module........................................................................................................... 11
3.1 Module Information .............................................................................................................. 11
3.2 Module Purpose .................................................................................................................... 11
3.3 Outcomes .............................................................................................................................. 11
3.4 Assessment............................................................................................................................ 12
3.5 Planning Your Studies............................................................................................................ 12
4. Prescribed Reading........................................................................................................................ 12
4.1 Prescribed Book..................................................................................................................... 12
4.2 Recommended Articles ......................................................................................................... 13
4.3 Recommended Multimedia ................................................................................................... 13
5. Module Content ............................................................................................................................ 14
5.1 Study Unit 1 Strategic Management Essentials ..................................................................... 15
5.1.1 Introduction .................................................................................................................. 15
5.1.2 Definitions of Strategic Management............................................................................ 16
5.1.3 Stages of Strategic Management................................................................................... 16
5.1.4 Integrating intuition and Analysis.................................................................................. 17
5.1.5 Strategic management model ....................................................................................... 19
5.1.6 Benefits of Strategic Management ................................................................................ 20
5.1.7 Conclusion ..................................................................................................................... 22
5.1.8 Revision questions ......................................................................................................... 23
5.2 Study Unit 2: Outside -Use Strategic Planning....................................................................... 24
5.2.1 Introduction .................................................................................................................. 24
5.2.2 Multinational Organizations .......................................................................................... 24
5.2.3 Advantages and Disadvantages of entering global markets .......................................... 25
5.2.4 The Global Challenge ..................................................................................................... 26
5.2.5 Communication differences across countries ............................................................... 27
5.2.6 Business Cultures across Countries ............................................................................... 28
5.2.7 African Countries ........................................................................................................... 29
3
, Strategic Management Damelin©
5.2.8 Conclusion ..................................................................................................................... 30
5.2.9 Revision Questions ........................................................................................................ 32
5.3 Study Unit 3: Ethics/Social Responsibility and Sustainability ................................................ 33
5.3.1 Introduction .................................................................................................................. 33
5.3.2 Business Ethics .............................................................................................................. 34
5.3.3 Social Responsibility ...................................................................................................... 36
5.3.4 Environmental Sustainability ......................................................................................... 36
5.3.5 Conclusion ..................................................................................................................... 37
5.3.6 Revision Questions ........................................................................................................ 39
5.4 Study Unit 4: Types of Strategies........................................................................................... 40
5.4.1 Introduction .................................................................................................................. 40
5.4.2 Types of Strategies ........................................................................................................ 40
5.4.3 Michael Porter’s Five Generic Strategies ....................................................................... 42
5.4.4 Means for Achieving Strategies ..................................................................................... 43
5.4.5 Strategic Management in Non-Profit and Governmental organisations ....................... 45
5.4.6 Strategic Management in Small firms ........................................................................... 45
5.4.7 Conclusion ..................................................................................................................... 48
5.4.8 Revision Questions ........................................................................................................ 48
5.5 Study Unit 5: Vision and Mission Analysis ............................................................................. 49
5.5.1 Introduction .................................................................................................................. 49
5.5.2 What do we want to become?.......................................................................................... 49
5.5.3 What is our business? ................................................................................................... 50
5.5.4 Benefits of a clear Vision and Mission Statements........................................................ 51
5.5.5 Characteristics of a Mission Statement ......................................................................... 51
5.5.6 Revision Questions ........................................................................................................ 53
5.6 Study Unit 6: Internal Audit ................................................................................................... 54
5.6.1 Introduction .................................................................................................................. 54
5.6.2 Nature of an Internal Audit ........................................................................................... 54
5.6.3 Resource Based View .................................................................................................... 55
5.6.4 Management ................................................................................................................. 55
5.6.5 Marketing ...................................................................................................................... 57
5.6.6 Finance and Accounting ................................................................................................ 57
5.6.7 Production and Operations ........................................................................................... 59
5.6.8 Research and Development .......................................................................................... 59
4
