Assignment Question

Criteria Complete Not yet complete Expected Student Learning Outcome 1 Understand and explain the basic concepts of strategy – competitive advantage, mission, vision, objectives, and core competencies. Not yet met. Expected Student Learning Outcome 2 Identify and appreciate the significance of the five-step strategic management process. Not yet met. Expected Student Learning Outcome 3 Explain the generic strategies of cost leadership and differentiation. Not yet met. Expected Student Learning Outcome 4 Analyze an organization using SWOT. Not yet met. Expected Student Learning Outcome 5 Analyze an industry using the five forces model. Not yet met. Expected Student Learning Outcome 6 Understand the significance of strategic groups. Not yet met. Expected Student Learning Outcome 7 Identify the various growth strategies available to firms. Not yet met. Expected Student Learning Outcome 8 Understand the importance of strategic leadership. Not yet met. Expected Student Learning Outcome 9 Identify the strategic leadership skills. Not yet met. Expected Student Learning Outcome 10 Explain the need for change and the role of strategic leadership in organizational change. Not yet met. Expected Student Learning Outcome 11 Develop an appreciation for the eight-stage change process. Not yet met. Expected Student Learning Outcome 12 Understand the distinction between internal and external customers. Not yet met. Expected Student Learning Outcome 13 Understand segmentation, targeting, and positioning concepts. Not yet met. Expected Student Learning Outcome 14 Understand the relationship between customer service and customer loyalty. Not yet met. Expected Student Learning Outcome 15 Identify the components of service quality. Not yet met. Expected Student Learning Outcome 16 Apply the elements of value to a given product or service. Not yet met. Expected Student Learning Outcome 17 Understand performance management and its role in organizational performance. Not yet met. Expected Student Learning Outcome 18 Understand balanced scorecard, strategy maps, and activity-based costing. Not yet met. Expected Student Learning Outcome 19 Develop an appreciation of the role of supply chains in organizational success. Not yet met. Expected Student Learning Outcome 20 Explain performance management from a system framework. Not yet met. Expected Student Learning Outcome 21 Understand the criticality of continuous improvement in achieving and sustaining competitive advantage. Not yet met. Expected Student Learning Outcome 22 Explain the PDCA model for continuous improvement. Not yet met. Expected Student Learning Outcome 23 Understand problem-solving methodologies. Not yet met. Expected Student Learning Outcome 24 Develop an appreciation for after action reviews in continuous improvement initiatives. Not yet met. Expected Student Learning Outcome 25 Understand today’s tools of six sigma, lean, and poka-yoke. Not yet met. Expected Student Learning Outcome 26 Understand and interpret the components of the value chain. Not yet met. Expected Student Learning Outcome 27 Explain the importance of value chain integration. Not yet met. Expected Student Learning Outcome 28 Understand integrated business planning. Not yet met. Expected Student Learning Outcome 29 Define the role of ERP in business integration. Not yet met. Resources Bible (New International Version) Video: Decision-making Steps in Management Video: The Power of Decision-making | Benedikt Ahlfeld | TEDxGraz Writing Resources tab: IWU APA Guide Writing Resources tab: IWU APA Resources Website: Purdue Onling Writing Lab (OWL) Website: Grammarly Website: Turnitin

Answer

Introduction

In the realm of business education, strategic management stands as a cornerstone discipline, imparting a comprehensive understanding of essential concepts and tools crucial for organizational success . This essay explores the criteria necessary to achieve the expected student learning outcomes in a strategic management course. Our primary focus lies in comprehending and explaining key concepts, such as competitive advantage, mission, vision, objectives, and core competencies (Expected Student Learning Outcome 1). Additionally, we delve into the significance of the five-step strategic management process (Expected Student Learning Outcome 2) and the exploration of generic strategies like cost leadership and differentiation (Expected Student Learning Outcome 3). To attain these outcomes, it is imperative to employ various resources, including the Bible, videos on decision-making, and writing guides like APA, Purdue OWL, Grammarly, and Turnitin.

 Expected Student Learning Outcome 1

Expected Student Learning Outcome 1 necessitates a deep understanding and articulate explanation of fundamental strategic concepts. Competitive advantage, a linchpin in strategic management, represents an organization’s ability to outperform competitors by producing goods or services more efficiently or distinctively (Porter, 1998). The Bible, a timeless resource, provides wisdom that echoes the principles of competitive advantage. For instance, 1 Corinthians 9:22 (NIV) states, “I have become all things to all people so that by all possible means, I might save some,” highlighting the importance of adaptability and differentiation, which are key components of competitive advantage.

Mission and Vision

Furthermore, mission and vision statements are pivotal components guiding an organization’s strategic direction (Pearce & Robinson, 2018). The Bible itself offers illustrative examples of mission and vision, such as the Great Commission (Matthew 28:16-20), emphasizing the significance of clear objectives and a visionary outlook. By incorporating these biblical examples into the curriculum, students can gain a profound understanding of these concepts and their applicability in the business world.

 Expected Student Learning Outcome 2

Expected Student Learning Outcome 2 revolves around the five-step strategic management process, which comprises environmental scanning, strategy formulation, strategy implementation, evaluation, and control (David, 2020). These steps serve as the bedrock of effective decision-making within organizations. Videos on decision-making and strategic planning, such as Benedikt Ahlfeld’s TEDxGraz talk, offer invaluable insights into the power of decision-making and its pivotal role in the strategic management process. These resources can be seamlessly integrated into the course material to enhance students’ appreciation of this critical aspect of strategic management.

Strategies for Success: Expected Student Learning Outcome 3

Expected Student Learning Outcome 3 concentrates on generic strategies, specifically cost leadership and differentiation (Porter, 1985). Cost leadership involves becoming the lowest-cost producer in the industry, while differentiation entails offering unique products or services. These concepts can be reinforced through biblical passages that emphasize frugality and uniqueness. Proverbs 21:20 (NIV) states, “The wise store up choice food and olive oil, but fools gulp theirs down,” underscoring the importance of cost-consciousness, a key element of cost leadership.

Exploring a Comprehensive Learning Journey

To ensure a comprehensive learning journey in strategic management, it’s imperative to delve into the remaining expected student learning outcomes. Each of these outcomes contributes significantly to building a well-rounded understanding of the discipline: Expected Student Learning Outcome 4 entails analyzing an organization using SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis (Hill & Jones, 2017). This exercise allows students to gain insights into how internal and external factors can influence an organization’s strategic decisions. It provides a practical perspective on the alignment of an organization’s strengths and weaknesses with external opportunities and threats. Expected Student Learning Outcome 5 involves the analysis of an industry using the Five Forces model (Porter, 2008). This model is instrumental in helping students assess the competitive forces within an industry and identify potential areas for competitive advantage. By understanding these forces, students can better grasp the dynamics that shape industry attractiveness and competitiveness.

Expected Student Learning Outcome 6 emphasizes the significance of strategic groups within industries (Porter, 1980). Strategic groups play a crucial role in shaping competitive dynamics, and students should be able to identify and analyze these groups to gain insights into how organizations within the same industry compete and differentiate themselves. Expected Student Learning Outcome 7 is centered on identifying various growth strategies available to firms (Ansoff, 1957). It is vital for students to comprehend the different paths organizations can take to expand their operations, whether through market penetration, product development, market development, or diversification. Understanding these strategies is key to making informed strategic choices. Expected Student Learning Outcome 8 underscores the importance of strategic leadership (Northouse, 2018). Leadership theories and concepts help students understand how leadership influences an organization’s strategy and performance. Effective leaders play a pivotal role in shaping an organization’s strategic direction and execution.

Expected Student Learning Outcome 9 requires identifying the specific skills and qualities that effective strategic leaders possess (Daft, 2019). These skills encompass communication, decision-making, adaptability, and the ability to navigate complex and uncertain environments. Expected Student Learning Outcome 10 delves into the need for change and the role of strategic leadership in organizational change (Kotter, 1996). Change management is an integral aspect of strategic leadership, and students should comprehend how leaders drive change initiatives and manage resistance effectively. Expected Student Learning Outcome 11 centers on developing an appreciation for the eight-stage change process (Kotter, 1996). This process provides a structured framework for managing change within organizations, ensuring that change efforts are well-planned, communicated, and executed. By systematically addressing each of these learning outcomes, instructors can guide students on a comprehensive learning journey that equips them with the knowledge and skills needed to excel in the field of strategic management. This approach not only prepares students for success in the business world but also fosters critical thinking and problem-solving skills that are invaluable in any career path.

Conclusion

In summation, achieving the expected student learning outcomes in a strategic management course is paramount for equipping future business leaders with the knowledge and skills requisite for thriving in the dynamic world of business. By infusing diverse resources such as the Bible, videos on decision-making, and writing guides, educators can construct a comprehensive and captivating learning experience. Through a profound grasp of fundamental concepts, the strategic management process, and generic strategies, students will be better poised to navigate the intricacies of strategic decision-making and contribute significantly to their organizations’ success. Furthermore, the integration of these resources not only elevates learning outcomes but also nurtures a holistic approach to education that harmonizes academic knowledge with real-world applications.

Frequently Asked Questions (FAQs)

Q1: What are the key concepts covered in a strategic management course?

A1: A strategic management course typically covers key concepts such as competitive advantage, mission, vision, objectives, and core competencies. It also delves into the strategic management process, generic strategies like cost leadership and differentiation, and leadership skills in the context of strategic management.

Q2: How can biblical references be integrated into a strategic management curriculum?

A2: Biblical references can be integrated by drawing parallels between strategic concepts and passages that emphasize principles like adaptability, differentiation, clear objectives, and visionary outlook. These references provide practical insights and ethical perspectives.

Q3: What is the significance of the five-step strategic management process?

A3: The five-step strategic management process is crucial for effective decision-making within organizations. It includes environmental scanning, strategy formulation, strategy implementation, evaluation, and control, providing a structured approach to crafting and executing strategies.

Q4: What are some examples of generic strategies in strategic management?

A4: Examples of generic strategies include cost leadership, where an organization aims to become the lowest-cost producer, and differentiation, where an organization offers unique products or services to stand out in the market.

Q5: Why is strategic leadership important in organizational change?

A5: Strategic leadership is essential in organizational change because it guides and drives change initiatives. Effective leaders can inspire and motivate employees during times of transformation, ensuring that the organization adapts successfully.

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