Strategic management is concerned with the long-term direction, scope and performance of an organization. Whether an organization’s overall strategy emerges from the interplay of functional departments or is a grand plan devised by one group, its success is contingent on the fit between the organization and the relevant environmental dynamics. The actions of the organization are simultaneously a result of these dynamics and a cause of them. Hence a continuous, accurate analysis and synthesis of environmental and organizational interactions is a critical component of a successful strategy. To be a successful strategic leader, one needs to start with an understanding of the internal factors and the external factors that determine the success of the company, whether short term or long term. That understanding needs to be both deep and clear.
Strategic Management is an integrative and interdisciplinary course that provides the primary step to get that deep and clear understanding of the business environment of the business. In this business and management course, you will develop a strong sense of how firms compete by learning about critical analytical approaches underlying business strategy. The system helps in understanding the various techniques used in business.