Strategic Business Planning

Course overview

Strategic business planning is important because it provides clarity, direction and focus for the organization and therefore allows organizations to be proactive rather than reactive. It improves the organization’s management process and decision-making processes by enhancing allocative, operational, information and dynamic efficiency, including achieving a sustainable competitive advantage. Other benefits include an increase in market share, profitability and business longevity. Therefore, it is imperative that decision makers understand the key concepts of Strategic Business Planning and be able to apply this knowledge effectively to create solutions to consumer, market, environmental and social problems. This course aims to provide students with the opportunity to develop and enhance their skills and knowledge in the field of Strategic Business Planning. The unit includes the following topics: Vision and Mission Statements, Strategy Formulation, Strategy Implementation and Strategy Evaluation.

Outcomes

• Understand the theoretical and practical knowledge of strategic business planning to generate solutions to improve current practice.
• Understand problem-solving and decision-making abilities to achieve a competitive advantage.
• Critically analyze information from a wide range of sources to demonstrate research skills, and demonstrate the capacity to document the outcomes with sound analysis and recommendations.
• Examine the key challenges faced by strategic business planners and conceptualize a strategic response to overcome these challenges.

Lessons

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  Concept Profile: Strategic Business Planning

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  Preliminary Vision and Mission Statements (Interim Targets and Goals)

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  Strategy Formulation

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  Strategy Implementation

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  Strategy Evaluation