Overview of Course
Why do some companies thrive and others fail? In large part, the result stems from strategy. Strategy describes the ways firms build and sustain competitive positions and achieve long-term profitability. Strategy is perhaps the most important activity that companies undertake. Strategic management is the process through which firms choose and implement their strategies, setting a direction for the organization and its employees. Throughout our voyage, we will analyze the formulation and implementation of the strategic management process in a variety of industries at various ports. Our perspective is that firms succeed because their strategy allows them to pursue potential profit opportunities and effectively adapt to changing economic, political, and social circumstances.
Through this highly interactive course, we explore and reconcile the tensions that accompany management decisions – choosing what to do and what not to do. We adopt the role of the general manager who is responsible for the long-term health of the organization. We will analyze the competitive environment facing a firm, assess the attractiveness of the industry, and isolate potential sources of competitive advantage. This course will equip you with the concepts and frameworks needed to develop sound strategy.