Motivation: The challenge and the dilemma of strategic management
What is strategy? The answer to this question varies among different schools of strategy studies. However, it is generally agreed that the firm’s strategy, as a whole, is essentially of an integrative nature and does not break into parts that can be separately addressed. Yet, in an individual managerial situation, the manager must focus on the specific strategic theme of the situation as if it were a separable part of the whole strategy. How does the manager comprehend the whole of the strategy if it is not a collection of parts? How does the manager successfully complete a specific strategic task if it is an inseparable part of the whole? Clearly, the dilemma to manage here is to maintain the undisturbed focus on the part while developing a broader picture of the whole.
This course is an introduction on the fundamentals of strategic management. It introduces the basic tools, concepts and frameworks useful in conceiving a firm’s strategy as an irreducible whole. Throughout the course, the essential task of students is to develop the ability to take an integrative perspective when making a decision in a specific business situation.