Context of the company: its environment. Concept of strategy. Strategic direction. Strategic approaches. Strategic alternatives. Corporate social responsibility.
Strategic Management I is a required 6-credit course, which according to the European Credit Transfer System, is equivalent to 150 student work hours (1 credit = 25 hours). It is given in spring semester during the third year of the Business Administration undergraduate program. In this course, students learn to recognize the importance of strategy as a way to achieve the ultimate objectives in any organization. As these objectives depend upon learning about the surrounding situation and its evolution, the students will learn various assessment techniques both in the external and internal context. Along with strategic analysis, they will become familiar with competitive advantage strategies. This course is given near the end of the Business Administration program, because it requires prior knowledge in multiple areas in both the organization as well as the socio-economic environment within which it operates. Its contents will bring the students closer to one of top management¿s most important functions: recognizing a changing environment and designing actions to facilitate the organization¿s survival.