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Qualification - OTHM Level 7 Diploma In Strategic Management And Leadership

Unit Name - Strategic Management

Unit Reference Number - T/507/8228

Unit Level - Level 7

Unit Number - Unit 2

Assignment Title - Strategic Management

Unit Credit - Credit 15

Aim: To examine the principles of strategy and change management and provide learners with a critical understanding and ability to use various models of the strategy and change management process and the analysis of internal external environmental and resource variables.

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Learning Outcome 1: Critically review organisational strategic plans

Answer: This learning outcome requires a deep and analytical examination of an organisation's existing strategic plans. A strategic plan is a comprehensive document outlining an organisation's long-term vision, mission, goals, and the specific strategies it will employ to achieve them, typically over a period of three to five years. To "critically review" means going beyond a simple summary; it involves assessing the plan's effectiveness, feasibility, internal consistency, and alignment with the organisation's capabilities and the external environment. This includes scrutinising the clarity of the mission and vision, the realism and measurability of objectives, the suitability of chosen strategies, the adequacy of resource allocation, and the robustness of performance metrics. A critical review also considers the underlying assumptions, potential risks, and the plan's adaptability to unforeseen changes, ensuring it remains relevant and actionable in a dynamic business landscape.

Learning Outcome 2: Propose strategic options for an organisation.

Answer: This outcome focuses on the ability to identify, develop, and recommend viable future directions for an organisation. Strategic options represent alternative paths or choices an organisation can pursue to achieve its long-term objectives. The process of proposing these options typically begins with a thorough analysis of the internal environment (strengths and weaknesses) and the external environment (opportunities and threats), often utilising frameworks like SWOT, PESTEL, and Porter's Five Forces. Based on this analysis, various strategic options can be generated, such as growth strategies (market penetration, market development, product development, diversification), stability strategies (no change, pause/proceed with caution), or retrenchment strategies (turnaround, divestment, liquidation). The proposed options must be well-justified, consider the organisation's unique context, resources, competitive advantages, and potential risks, and be aligned with its overall strategic intent.

Learning Outcome 3: Create a strategy implementation plan for an organisation.

Answer:  This learning outcome is about translating strategic choices into actionable steps and ensuring their successful execution. A strategy implementation plan details how a chosen strategy will be put into practice. It bridges the gap between strategic formulation (what to do) and operational execution (how to do it). Key components of such a plan include defining specific action plans or initiatives, allocating necessary resources (financial, human, technological), designing or adapting the organisational structure to support the strategy, establishing clear roles and responsibilities, developing effective communication channels, setting realistic timelines, and defining key performance indicators (KPIs) to monitor progress. The plan must also consider leadership's role in driving change, fostering a supportive culture, and managing potential resistance, ensuring that the entire organisation is aligned and mobilised towards achieving the strategic objectives.

Learning Outcome 4: Critically analyse the principal processes of organizational change.

Answer: This outcome requires a deep understanding and evaluative perspective on how organisations manage transitions and transformations. Organisational change refers to any alteration in an organisation's structure, technology, or people. "Critically analyse" means examining the various models and theories of change (e.g., Kurt Lewin's three-step model of unfreeze-change-refreeze, John Kotter's 8-Step Process for Leading Change, or the ADKAR model) by evaluating their strengths, weaknesses, applicability in different contexts, and their potential impact on various stakeholders. This analysis also involves understanding the principal drivers of change (e.g., technological advancements, market shifts, regulatory changes), common reactions to change (e.g., resistance, acceptance), and the critical factors that contribute to successful or failed change initiatives, such as effective communication, leadership commitment, employee involvement, and cultural considerations.

Learning Outcome 5: Evaluate the implementation of strategic plans

Answer:  This final outcome focuses on assessing the effectiveness and impact of a strategic plan after it has been put into action. While Learning Outcome 1 is about reviewing the plan itself, this outcome is about evaluating how well the plan was executed and what results it achieved. Evaluation involves systematically measuring the organisation's performance against the objectives set in the strategic plan, identifying any variances, and determining the reasons behind successes or shortfalls. This can involve using a range of metrics and tools, such as financial performance indicators, market share analysis, customer satisfaction surveys, employee engagement metrics, and the Balanced Scorecard framework. The evaluation process provides crucial feedback, allowing the organisation to learn from its experiences, make necessary adjustments to ongoing strategies, and inform future strategic planning cycles, ensuring continuous improvement and adaptability.

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Aim: To examine the principles of strategy and change management and provide learners with a critical understanding and ability to use various models of the strategy and change management process and the analysis of internal external environmental and resource variables.

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Indicative content

» Explaining the importance of scanning business environment in making strategic decisions of organisation: business environment e g. definition, featurs, characteristics, types; distinctions between culture and organisational environment; key components of organisational environment; organisational environment basics; internal environment e g. working capacities, employment relations, job satisfaction; external factors e g. beneficiaries identification, consumer group demands; ways to meet those demands; contractors; stakeholders; shareholders; suppliers; general workforce; competitor success directions; links of influential factors e g. social, political, technological; organisational commitment e g. short term, medium and long term; competitor analysis; designing of products or services; influence measurement; organisational environment improvement;

» Using a variety of tools to critically analyse external business environment: business environment dynamics e g. definition, characteristics, changes; basics of business environment; organisational environment e g. benchmark, liability, elasticity, intelligibility, commitment of team, management practices impact;, effectiveness and efficiency effects; tools of analysis; threats and opportunities analysis; SWOT (strengths, weaknesses, opportunities, threats) analysis; market analysis, consumer survey; competitor identification; market research; data and information analysis;

» Using a variety of tools to critically analyse internal business environment: internal organisational environment e g. definition, types, features and changes; internal management analysis; employee and management review; efficient communication rationale; strength analysis; weaknesses analysis; resource analysis; pricing strategies; strategic drift; product analysis; product life cycle analysis;

» To review the position of an organisation in its current market: market situation analysis; organisational position measurement; strategic business planning tools e g. SWOT (strength, weakness, opportunity and threats) analysis; Porter's Five Forces Analysis; value chain analysis; Boston growth-share (BCG) matrix; market equilibrium; market share; sustainable competitive advantage;

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» To analyse the effects of exiting plans on organisation: organisational planning effects; organisational agreement between several organisations; communication with stakeholders; organisational planning development; objectives led management; guidelines; action planning; strategic and structure fit; Business Process Re-engineering; performance appraisal; policy development; systems of communication; realignment and focus;

» Identify and analyse mandatory competency and competitive advances of an organisation: competitive advantage identification; economies of scope and scale; product or service life measurement; internal statistics and surveys; measures for monitoring and evaluating; emergent and unrealised strategy; globalisation effects; resources analysis; mandatory skills and competences; experience curves; comparative analysis;

» Discussing relationship between, corporate, business and operational strategies: strategic relationships e g. concepts, application and changing trends; corporate strategies; business strategies; operational strategies; effective communication; strategy formulation; strategic drift; strategic options review; benchmarking; competitor analysis; benefit-cost analysis; information review; organisational value consistency; position in markets; market share; globalisation effect; impacts of technological advancements;

» Use various models and tools to develop strategic options for an organisation: strategic models e g. identification, uses and effectiveness; Mintzberg's strategies e.g. emergent and deliberate; Ansoff matrix strategies; balanced smandatorycard analysis; sensitivity analysis; organisational integration; merger and acquisition; gap analysis; product portfolio;

» Analyse and decide strategic and business strategic options: strategic options e g. basics and organisation led applications; potential option review; business ethics; good practices; effective participation of stakeholders; diversity management; organisational environment consideration; awareness raising; objectives settings; strategic alliance; benchmarking; leadership;

» Developing appropriate vision, mission and strategic goals for an organisation: situational analysis; setting vision and mission targets; understanding organisational values; business environment outlining; conceptualising stakeholders;

» Proposing a suitable structure: stakeholders: identification, role analysis; comprehensive target setting for a business organisation; motivation to participate in strategic planning; strategy formulation; strategy implementation; monitoring and evaluation of stakeholders' performance;

» Developing an agreed strategy plan that addresses all resource implications due to new action plan: organisational culture analysis; understanding basic values of a business organisation e g. cultural, ethical, social, economic, business; SMART (specific, measurable, achievable, realistic,time-based) target selection; resource audit; risk analysis;

» Carrying out force field analysis: organisational changes e g. definitions, processes, patterns; the identification of change forces; roles of change forces; factor identification; impact of globalisation;

» Using various change management models: change management models e g. identification, selection and use; in order to implement any change in an organisation; Lewin's Change Management Model; McKinsey 7-S Model; Kotter's 8 Step Change Model;

» Acquiring leadership and change agent skills: change agent skills e g, identification, appropriate selection and application; implementing a strategic change in an organisation; right attitude; appropriate knowledge; leadership and skills;

» To develop a time schedule for implementation of the plans: time requirement for planning implementation; time allocation for planning; time management; time scheduling; planning implementation timetable;

» To develop key success factors in order to monitor the implementation of the strategic plan: success factors definition; success factors identification; successful strategic plan monitoring; planning implementation; evaluation and monitoring of control system; cascading and dissemination process;

» To analyse potential risk: risks e g. definitions, features, identification and relevancies in diverse circumstances; implementation risks; implementation risks avoidance; contingency planning; contingency corrective development; risk preventive actions.

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