The world continuously goes through changes and cycles some of which brings new dimension and views forward. And no aspect is left untouched by this. The education side of things, has itself capitalized on the ongoing changes and updated it with the modern dynamic aspects. That includes developing new courses and adding new skill-based programs.
One such thing that has developed enlarge in recent times is the viewpoint on strategic management. Which was once thought of as a high-level course only pursued by a few people has now opened itself for all enthusiasts with the recent courses. Strategic management courses have become one of the much-needed things in the present day growth spurt. We here take a look at strategic management and different courses on offer under this stream. Let’s check it out.
What is Strategic Management?
Strategic management refers to a bundle of acts and decision-making aspects that is taken by the management level persons to evaluate and plan for the business operations. Strategic management deals with the development of the thinking process and skills that help to plan, formulate, and evaluate the ongoings and set goals for further growth. It allows a person to build strategies for organizations and see how it can be implemented.
This is one of the far-sighted developing education which allows the company to maintain its present-day running as well as keeping an eye on the future. It is significant to allow a company to understand its stakeholders and deal with the aspects like employee roles, behavior, consumer requirements, consumer satisfaction, and ensuring that the investors are well and truly vested with their interests in the organization.
Scope of Strategic Management Courses
Strategic management is one of the most desired attributes for anyone seeking a leadership role and plays a vital role in any managerial level recruitments. The scope for strategic management courses is vast and is still untapped if you look at the current ongoings in the organizational scheme of things. This is going to be one of the most sought after skills and will only further increase its demand in the long run.
Strategic management courses allow a person to add the skillset that will help them to maximize the company’s potential and set sights for long term growth. There are plenty of career roles and pathways that strategic management courses offer. Some of which are high profile roles as a financial analyst, business analyst, project analyst, project coordinator, project manager, consultant, advisory roles, and more.
Courses on offer in Strategic Management
Since strategic management courses in themselves are a highly devised educational curriculum, these tend to be offered by a few universities and institutes around the globe. In India, IIM’s and other highly ranked B-schools are mostly known to offer these courses. We have picked up five major courses offered in strategic management as part of our post. All of these courses are after graduation as strategic management demands prior knowledge of management studies for students to pursue.
1. Post Graduate Program in Management – Strategic Management (PGDM)
This is a post-graduate program for students looking for a desirable course in strategic management. This course is one of the most preferred ones in India and plenty of students go for it. Let’s find out more in brief down below:
This one is a post-graduate course offered for 2 years for students who have completed their graduation. This course is currently offered by the Indian Institute of Management (IIM) across its different branches in India. It is one of the top-ranked strategic management courses around and is suited for developing strategic skillsets among students. Students learn different modules like managerial economics, macroeconomics, microeconomics, government system and processes, managerial communication, managerial information system, written analysis, general orientation skills, and more.
Since it’s a post-graduation course, it requires a student to have cleared their graduation before applying. He/she needs to score at least 50% marks or an equivalent GPA. The course dictates that further criteria should also be met where the students need to have prior experience of a minimum of 3 years in managerial or entrepreneur capacity. They need to apply for the course and then go through the entrance test and interview rounds to be selected for the course.
This is a highly desired course and students will get great growth opportunities with it. They will likely be offered campus placement for their jobs. They can go into managerial roles, analyst roles, coordinator roles, and more.
2. Master of Management Programme – Economics and Strategy
Next up is another highly sought after course and is offered to students willing to learn strategic management skills. This course is one of the top flagship courses and comes with a great degree of skills development and training that allows students to take up high decision-making roles in the organization. Let’s discuss more of this down below:
This is one of the flagship courses offered exclusively by the Indian Institute of Bombay (IITB) as part of their SJMSOM referring to Shailesh J. Mehta School of Management. This course is developed in coordination with world-class inputs to allow students to learn the best of strategic management. The course focuses on the aspect of economics and strategy and develops a skillset for planning and decision making in regards tothe economy. It has a two-year running period and comes with knowledge of modules like perspective giving, collaborative and experimental learning, leadership management, economics, managerial economics, communication skills, and more. Students will have to study a few compulsive subjects and can select a few additional from elective ones.
IITB has set tough eligibility for this course so that only interested and those with a keen learning attribute can get into it. A student needs to have completed their graduation course with a minimum of 50% or an equivalent GPA from any recognized university or institute. They also need to have prior experience in the role of manager or project coordinator. The students will then need to appear for entrance tests and complete the interview rounds before being eligible for the course.
This course has plenty of benefits for students who are taking it. The students will likely get campus placement offers at the end of their term. They can go for a management organization or finance based institutions with their knowledge of this course. The students can take positions of manager, advisor, consultant, analyst, and more.
3. Master of Business Administration – Strategic Management (MBA)
The next course on our list is the MBA with a major in Strategic Management. This is an expansion of the MBA course where the focus is put on developing strategic decision-making skills among the students. It is quite a desirable profile among graduate students.
This course is a post-graduate master’s program that runs for 2 years. This course is offered by many universities and institutes in India, unlike the aforementioned ones which were exclusive to only IIM and IITB. A student will undergo four semesters of six months each to complete the course where they can learn different aspects like modern business organization, business research, accounting, information technology, business law, strategic management, policy making, strategic marketing management, and more.
A student needs to have completed their graduation course from any recognized university or institute and should have scored at least 50% marks or an equivalent GPA. A few top colleges will probably ask for 60% marks to filter the candidates. Like other MBA entrance exams, a student needs to go through CAT, GMAT, MAT, or CMAT as per the requirement of the institutes.
A student has plenty of scope with this course and can go for different roles like research investigator, compliance officer, consumer insight analyst, business analyst, project manager, strategic sales initiator, and more.
4. Post Graduate Program in Corporate Strategy and Policy
Although this course as the name suggests is more inclined towards corporate strategy making, it has a good role in developing strategic management in students. The course strategy and curriculum have strategic management as part of it which is something that may interest students looking for a different strategic management course. Let’s find out more down below.
This course is a post-graduate program and is offered for 2 years. A student willing to undergo this course will need to apply for it and get selected. This course is offered exclusively by the Indian Institute of Bangalore (IIMB) and is one of the top courses on offer there. It provides students modules like corporate laws, business laws, economics, government policy and decision making, corporate strategic planning, strategic management to compliance, and more.
This course is a post-graduate program and requires a candidate with at least a graduation degree or any other post-graduate degree. A student needs to have scored at least 50% marks in their graduation. An equivalent GPA will also work for students. They need to undergo entrance tests set by IIMB and clear them before going for the interview round. At the end of the interview round, a student will be provided with the seal of approval.
A student with this skillset and degree can get into different fields like corporate, government, business enterprise, and more. They can take up roles like a corporate planner, corporate strategist, project manager, compliance strategist, and more.
5. Doctorate of Philosophy in Strategic Management (Ph.D.)
The next course on our list the Ph.D. in Strategic Management. This one is a research-level program designed for students who are looking for an advanced level of learning and skillset. This course is designed for people with prior master level or postgraduate degrees.
Here’s the course, scope, and salary for this course
As we talked about, this one is a research-level program and is targeted at students with a prior master’s program. This course runs for a period of 2 to 5 years and allows a student to learn intensively about the concepts and skillsets of strategic management. It is offered by a select few top universities and institutes across India. A person will learn aspects like managing international firms, competitive growth analysis, globalization, strategic theory and consulting technology and innovation skills, and more. The course runs on a semester basis.
A student needs to have completed a master’s program or postgraduate course from a recognized university or institute. The student needs to have scored the mandated marks as designated by the university offering the course. The university puts the applicant through the entrance test to test them out.
This course is one of the highest variants of strategic management courses offered anywhere in the world and allows a student to take the highest level of positions. They are likely to be hired by top companies and government organizations. A student with this degree can go for roles like a lecturer, strategy maker, researcher, economist, and much more.
Strategic management has become the need of time in the present-day for ensuring the organization and economy prospers and goes through a growth cycle. These aforementioned courses are one of the best ones offered with a specialization in strategic management. We hope that you find the list useful for your future endeavors.