Course Level 3: Advanced
Estimated Study Time: 2-3 hours
The course Introduction to Strategic Management introduces you to the concept of strategic management and how management can use the principles underlying strategic management to formulate and implement major goals and initiatives.
This course explains what a mission statement is and what it can achieve for a business. You will learn what parameters should be included in a strategic plan and how a strategic plan should help determine long-term decisions including an organization’s objectives, goals and course of action. You will learn how clearly stated mission statements add focus to the organization’s efforts. You will learn the difference between operating decisions and strategic decisions and what a strategic management decision process involves. You will also learn more about experience curves and how they are used in business strategy. Finally, you will learn about doom loops, how a business can avoid getting into a doom loop, and what steps can help a business get out of a doom loop if they are already in one.
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