Strategic Myopia And How To Avoid It
OVERVIEW
Managers at all hierarchical levels in an organization usually fail to conduct long-term evaluations for numerous reasons. For example, the executives usually don t realize their importance; they believe that short-term considerations are more important than long-term considerations; they aren t personally evaluated on a long-term basis; and they don t have the time to perform a long-term analysis.1 In order to avoid nearsightedness or the myopia problem, managers need to embrace the strategic view of the organization and try to see the bigger picture . Strategic management tools and frameworks are the perfect way of broadening the horizon of managers at low, middle, and top levels.
COURSE DESCRIPTION AND MAIN OBJECTIVE
The course will provide insightful and practical knowledge about the major concepts in strategic management and offer guidance in applying these tools in the context of a contemporary business in the UAE. The participants will be guided through the important areas of business environment analysis, the stages of strategy development and implementation, as well as through the process of strategic control and evaluation. Case studies and interactive discussions will be the main methods of course delivery. The main objective of the course is to embed a strategic way of thinking and abandoning myopic managerial habits in modern corporations.
LEARNING OUTCOMES
After having completed this course, the participants will fully understand the difference between myopic and strategic management and will be able to incorporate strategic reasoning in their everyday activities. In particular, the course will expose participants to the application of concepts needed for strategic internal and external analysis, as well as the concepts that help executives in following strategy implementation. Finally, the participants will be able to connect their operational tasks with the strategy of the corporation, which in turn will enable them to make sense of their position in the company s value chain and their role in the value creation process.
CONTENT
Module 1: Defining strategy and elements of strategic analysis; Introduction to strategic myopia and strategic thinking; The need for a long-term orientation to avoid myopic management; Why all managers need to be thinking strategically and not just the top ones; Strategic management process and development of understandable and doable strategy.
Module 2: Strategic analysis of a company s environment the difference between general, industry, competitor, and internal approaches; Understanding and implementing STEEP analysis, Five forces framework and strategic groups; Distinguishing strategic types of companies in the market; Development of EFAS table.
Module 3: Understanding internal strategic strengths and weaknesses; Applying VRIO, RBV, and Value Chain frameworks in strategic analysis; Identifying strategic resources, finding own competitive advantage and making it sustainable; Understanding business models; Development of IFAS table .
Module 4: The pyramid of strategy development; Understanding and identifying business and corporate strategies; The essence of strategic choice; Global strategy; Organizing and structure; Evaluation and control for long-term corporate success.
FACULTY MEMBER
Vladimir Dzenopoljac is the associate professor of Strategic Management at College of Business and Economics, United Arab Emirates University. Previously, he was engaged as the associate professor, director of the MBA program, and Business Consulting Center coordinator at the College of Business Administration, American University of the Middle East, Kuwait. From 2003 to 2016 he was the assistant professor of Strategic Management at Faculty of Economics, University of Kragujevac, Serbia. He received his PhD Degree from the University of Kragujevac, Serbia, in the field of the impact of intellectual capital on value creation in contemporary enterprises. Alongside his academic career, Vladimir was providing business consultancy services in the fields of strategy development and execution, business planning, financial planning and analysis, and leadership. His areas of professional interest are strategy development and execution and intellectual capital management in contemporary organizations.
TARGET GROUP
This course is designed for executives at all levels, who are responsible for operational tasks, functional, business, or corporate strategies, people who make operational and/or strategic business decisions. Executives who are moving into these roles and wish to enhance their strategic thinking skills, will also benefit from the course. Also, the course is suitable for entry-level managers and those whose background is not from the business sector.
ADMISSION REQUIREMENTS
Participants should have meaningful management experience and be able to follow and participate in discussions in English.
TEACHING METHODS
- Face-to-face learning
- Discussions and case studies
CERTIFICATE
Obtain a Certificate of Successful Completion by demonstrating knowledge, understanding and skills of the learning outcomes in practical assessments at the end of the course.
1 RM. Hodgetts and M. S. Wortman, Administrative Policy, 2nd ed. (New York: John Wiley & Sons, 1980), p. 128.
Contact Us
Mr. Johan Burger
Head of Executive Development College of Business and Economics P.O. Box: 62931, Abu DhabiDo you find this content helpful?
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