The objective of the course is to provide students with a comprehensive understanding of the principles, processes and methods of strategic planning. The course introduces the stages of the strategic planning process, from defining organisational mission, vision and long-term objectives to analysing the external and internal environment, identifying strategic alternatives, selecting appropriate courses of action and translating strategic objectives into implementation plans. The course aims to develop students’ ability to prepare coherent, evidence-based and realistic strategic plans. Particular emphasis is placed on environmental analysis, stakeholder assessment, scenario planning, objective setting, resource allocation, risk assessment, performance indicators and the monitoring of strategic implementation. By the end of the course, students are expected to be able to connect long-term organisational goals with operational programmes, budgets and measurable outcomes.

Lectures

The lectures cover the theoretical foundations, structure and principal methods of strategic planning, including: the concept, purpose and importance of strategic planning; the relationship between strategic planning, strategic management and operational planning; the stages and logic of the strategic planning process; organisational mission, vision, values and long-term objectives; stakeholder identification and stakeholder analysis; analysis of the macro-environment using PESTEL and related frameworks; industry, market and competitor analysis; internal analysis of resources, capabilities and organisational competencies; SWOT and TOWS analysis; identification and formulation of strategic issues; development and evaluation of strategic alternatives; selection and prioritisation of strategic objectives; scenario planning and the treatment of uncertainty; strategic forecasting and the interpretation of future trends; preparation of strategic programmes, action plans and implementation schedules; allocation of financial, human and organisational resources; strategic risk identification, assessment and mitigation; formulation of key performance indicators and strategic targets; the Balanced Scorecard and other strategic planning frameworks; integration of strategic plans with annual plans and budgets; monitoring, review and revision of strategic plans; sustainability, digital transformation and innovation in strategic planning; the structure, content and formal requirements of an organisational strategic plan.

Seminars

During the practical classes, students apply the concepts and methods of strategic planning to organisational problems, case studies and planning exercises. The practical work includes: formulating organisational mission, vision and long-term objectives; identifying and analysing key stakeholders; conducting macro-environmental analysis using the PESTEL framework; analysing industries, markets and competitors; assessing organisational resources, capabilities and core competencies; preparing SWOT and TOWS analyses; identifying strategic issues, opportunities, threats and development priorities; generating and comparing strategic alternatives; evaluating strategic options on the basis of feasibility, suitability and acceptability; defining strategic objectives, priorities and measurable targets; preparing scenarios and analysing alternative future developments; developing strategic programmes, action plans and implementation schedules; determining responsibilities, milestones and resource requirements; linking strategic objectives to annual operational plans and budgets; identifying and assessing strategic risks; formulating risk-mitigation measures; developing key performance indicators and monitoring systems; preparing strategy maps and Balanced Scorecards; evaluating the consistency and feasibility of strategic plans; preparing written strategic planning documents; presenting and defending strategic proposals; formulating evidence-based recommendations for decision-makers; working effectively in individual and group-based strategic planning tasks.

Corporate Performance & Planning (n.d.) [slideshow]. Downloadable: https://drive.google.com/drive/folders/18tQweJsm33QzEZzRatF5GFDHn5_rC5Zv?usp=sharing Hamza, A.A. (2013) BUS429: Corporate Planning. Lagos: National Open University of Nigeria. Downloadable: https://drive.google.com/drive/folders/1iQ__ZqJjx_kX8XSOgyo3bKIjL1aoGGsy?usp=sharing