1.2. About the Concept of Strategic Management - The Core of Our lessons

Although we may not emphasize it enough in our lessons, the contents of this E-learning program are based on the concept of strategic management - a method which provides detailed instructions on how to implement strategic management in small and medium-sized businesses. Before we get started, we would like to make a few comments regarding the method itself which E-learning users should keep in mind:

1. As you will see in each lesson, strategic management must be TAUGHT as a relatively structured and systematic method. It is important that, using this structured and linear approach, you formulate a basic, concise, and logical system for how to implement strategic management in your company. In reality, however, companies are not expected to only approach their strategies systematically or structurally, as it is not realistic. We therefore distinguish between a systematic, structured approach towards learning this method and its flexible application in a real company, as well as a strategic way of thinking i.e. how you will deliberate and formulate your strategy.

2. The method you will be taught on strategically managing your company will be presented in its entirety and in detail. The method has been formulated so that it accommodates medium-sized business as well. That being said, it is also just as applicable to very small businesses - e.g. start-ups or more complex trades. We expect that every company will choose parts of the method that best suit their company’s needs. This applies to deciding on what type of strategy to formulate for your company, as well selecting different types of analyses and working with strategic data. This method can be easily adapted to suit your company’s needs, as it allows for easy selection, and at the end we will also show you how to flexibly and efficiently work with it in different sized companies.

3. A summary of what we mentioned in the previous chapter:

1. The aim of this method is not to replace your current management style - on the contrary. It can add to your current management style and streamline certain aspects of it.

2. The strategy you will formulate for your company is not set in stone, but is expected instead to easily adapt over time to any changes within your company. One of the advantages of a strategic approach is that your company is always aware of the direction it’s going in, and that you can always CHOOSE which direction it goes in. This direction is also most likely to be realistic and competitive, despite the fact that it may change and adapt to your company’s current needs.