Business Policy and Strategy

Strategic management process can be described as an objective, logical, systematic approach for making major decisions in an organization. It attempts to organize qualitative and quantitative information in a way that allows effective decisions to be made under conditions of uncertainty. Yet, strategic management is not a pure science that lends itself to a nice, neat, one-two-three approach.

Based on past experiences, judgment, and feelings, intuition is essential to making good strategic decisions. Intuition is particularly useful for making decisions in situations of great uncertainty or little precedent. Although some organizations today may survive and prosper because they have intuitive geniuses managing them, most are not so fortunate. Most organizations can benefit from strategic management, which is based upon integrating intuition and analysis in decision making. Choosing an intuitive or analytic approach to decision making is not an either-or proposition. Managers at all levels in an organization inject their intuition and judgment into strategic management analyses. Analytical thinking and intuitive thinking complement each other.

Corvinus University of Budapest awards credits based on the ECTS system (2 ECTS credits equals 1 U.S. credit therefore, 6 ECTS credits is equivalent to 3 U.S. credits). At Corvinus University of Budapest, all classes meet for a minimum of 180 minutes per week. Contact hours are calculated through a combination of lecture hours and outside activities which can include (workshops, seminars, fieldwork activities, guest lectures, and independent work) therefore, contact hours may vary on syllabi.