Literature review on strategic management in MBA programs.

Literature review on strategic management in MBA programs.

Strategic Management MBA Literature Review

Introduction

Strategic management is a critical aspect of any organization’s success, as it involves the formulation and implementation of goals and initiatives to achieve competitive advantage. In the MBA program, students are exposed to various aspects of strategic management through coursework and projects. This literature review focuses on the existing system of strategic management in MBA programs and proposes a new system that can provide better outcomes for students.

Problem Statement

While MBA programs typically cover strategic management concepts, there is often a lack of practical application and real-world experience for students. Students may struggle to understand how to apply theoretical concepts to real-life scenarios, leading to a disconnect between classroom learning and actual business practices. This can hinder their ability to develop the critical thinking and decision-making skills necessary for success in the field of strategic management.

Existing System

In the existing system of strategic management education in MBA programs, students are typically taught theoretical concepts through lectures, readings, and case studies. While these methods can provide a solid foundation of knowledge, they may not adequately prepare students for the complexities of real-world business situations. Additionally, the focus on individual assignments and exams may limit students’ ability to collaborate and develop teamwork skills, which are essential in the field of strategic management.

Disadvantages

The disadvantages of the existing system of strategic management education in MBA programs include:

  • Lack of practical application
  • Disconnect between theory and practice
  • Limited development of critical thinking and decision-making skills
  • Focus on individual assignments over teamwork

Proposed System

The proposed system for strategic management education in MBA programs aims to address the shortcomings of the existing system by incorporating more practical, hands-on learning experiences. This can include:

  • Experiential learning projects with real companies
  • Collaborative group assignments and presentations
  • Internships and industry placements
  • Mentorship programs with industry professionals

Advantages

The advantages of the proposed system for strategic management education in MBA programs include:

  • Improved practical application of theoretical concepts
  • Enhanced development of critical thinking and decision-making skills
  • Increased focus on teamwork and collaboration
  • Better preparation for the complexities of real-world business situations

Features

The proposed system for strategic management education in MBA programs will include the following features:

  • Hands-on learning experiences with real companies
  • Collaborative group projects and assignments
  • Internship opportunities with industry partners
  • Mentorship programs with experienced professionals

Conclusion

In conclusion, the existing system of strategic management education in MBA programs may have limitations that hinder students’ ability to succeed in the field. By implementing a new system that focuses on practical application, teamwork, and real-world experiences, students can better develop the skills and competencies necessary for success in strategic management. It is essential for MBA programs to continuously evaluate and evolve their curriculum to ensure that students are well-prepared for the challenges of the business world.