Strategic Management Practice Exam

About Strategic Management
Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Changes in business environments will require organizations to constantly assess their strategies for success.

The concept of strategic management has its roots in 1950s economic theory based on industrial-organisational approaches. Peter Drucker, also known as the Father of Modern Management Theory, believed that setting objectives and monitoring company growth should permeate the entire organisation, top to bottom.      

Whether an organisation is small or large is irrelevant when it comes to strategic management. Even the smallest companies need to know how effective they are within their industry and take the appropriate actions to achieve their desired outcome for the future.  

Why is Strategic Management important?
Achieving organizational goals takes planning and patience. Strategic management can help companies reach their goals. Strategic management ensures the steps necessary to reach a business goal are implemented company-wide.
Strategic management offers many benefits to companies that use it, including:
•    Competitive advantage: Strategic management gives businesses an advantage over competitors because its proactive nature means your company will always be aware of the changing market.
•    Achieving goals: Strategic management helps keep goals achievable by using a clear and dynamic process for formulating steps and implementation.
•    Sustainable growth: Strategic management has been shown to lead to more efficient organizational performance, which leads to manageable growth.
•    Cohesive organization: Strategic management necessitates communication and goal implementation company-wide. An organization that is working in unison towards a goal is more likely to achieve that goal.
•    Increased managerial awareness: Strategic management means looking toward the company's future. If managers do this consistently, they will be more aware of industry trends and challenges. By implementing

Who should take the Strategic Management Exam?
•    Aspiring entrepreneurs
•    Business owners
•    Business executives
•    Business analysts
•    Entrepreneurs
•    Innovators
•    Anyone who wants to assess their business strategy skills
•    Business strategy consultants
•    Anyone interested in business strategy
•    Students

Knowledge and Skills required for the Strategic Management

Candidates gain quick success if they have skills of critical thinking and good communication skills.

Strategic Management Practice Exam Objectives

Strategic Management exam focuses on assessing your skills and knowledge in strategic analysis and decision making.

Strategic Management Practice Exam Pre-requisite

There are no prerequisites for the Strategic Management exam.

Strategic Management Certification Course Outline

1. Strategic Management
1.1 What is Strategy
1.2 Strategic Management Processes
1.3 Environmental Analysis
1.4 Pestle Analysis
1.5 SWOT Analysis
1.6 Value Chain Analysis
1.7 Competitor Analysis

2. Strategic Decision Making
2.1 What is Decision Making
2.2 Decision Making Process
2.3 Decision Making Strategies
2.4 What is Strategic Decision Making
2.5 Strategic Decision Making Models

3. Innovation Management
3.1 Pillars of Innovation
3.2 Crucial Questions for Innovation
3.3 Types of Innovation
3.4 What is a Business Innovation Culture
3.5 Building an Innovative Culture
3.6 Characteristics and Actions of an Innovation Leader

4. Change Management
4.1 Overview of Change Management
4.2 Recognizing Obstacles to Change
4.3 Introducing Change
4.4 Managing Change
4.5 Eight-Step Change Management Process
4.6 Strategies for Effective Implementation of Change
4.7 Leading Change
4.8 The CHANGE Model
4.9 Leading through Change

5. Business Ethics
5.1 History
5.2 Ethical Principles
5.3 Ethical Theories
5.4 Functional Business Areas
5.5 Value Integrity

6. Corporate Governance
6.1 What is Corporate Governance?
6.2 Principles Of Corporate Governance
6.3 Corporate Governance Models
6.4 Legal Environment – General
6.5 Sarbanes-Oxley Act of 2002
6.6 Codes and Guidelines
6.7 OECD Principles

7. Corporate Social Responsibility
7.1 CSR Approaches
7.2 Cost-Benefit Analysis (with RBV)
7.3 Social Accounting, Auditing and Reporting
7.4 Potential Business Benefits
7.5 Developing an Engagement Plan
7.6 Types of CSR Actions
7.7 Criticisms and Concerns
7.8 Public Policies
7.9 Crises and Their Consequences
7.10 Industries Considered Void of CSR

8. Sustainability
8.1 What is Sustainability
8.2 Pillars of Sustainability
8.3 Organizational Sustainability
8.4 Strategic Sustainability
8.5 Product Sustainability
8.6 Personnel Sustainability
8.7 Financial Sustainability


Exam Format and Information
Certification name – Strategic Management Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199