Students are encouraged to apply the concepts and learnings from the courses within their own organizations. HERV 590-YZ, the capstone course, is designed to serve as an integrating experience, providing students the opportunity to test, apply, and extend the concepts learned in the first two courses. Individually and in teams students will define, analyze, and solve organizational problems through case studies, exercises, and workshops. This course views strategic management as the orchestration of these factors to adapt the organization to a changing environment and to manage the internal changes required to accomplish its goals. In the context of the competing values framework, this course centers on the domains of Open Systems and Rational Goals, emphasizing the managerial roles of innovator, broker, producer, and director.
Strategic management is about both the formulation and execution of strategy.
Strategic management is externally oriented. It seeks to understand the environmental and market forces affecting the organization and to adapt the organization to these forces in ways that further its effectiveness and maintain its viability. Strategic management provides direction. It guides decisions about organization-wide goals, strategies, external relationships, internal structures, resources, and operations so they all support the organization s mission and vision. Central to strategic management is leadership and the management of change.