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IGNOU's MMPC 017 course involves understanding the complex frameworks, models, and approaches used to formulate and implement strategies in dynamic and competitive business environments. Here's an in-depth guide to help you effectively study for this course:Introduction to Advanced Strategic Management:Define advanced strategic management and its significance in achieving sustainable competitive advantage.Understand the evolution of strategic management theories and practices.Strategic Analysis:Conduct in-depth analyses of the external and internal environments to identify opportunities and threats.Study tools and frameworks such as PESTEL analysis, Porter's Five Forces, SWOT analysis, and value chain analysis.Competitive Strategy:Formulate competitive strategies to position the organization effectively within its industry or market segment.Study generic strategies (cost leadership, differentiation, focus) and hybrid strategies for achieving competitive advantage.Corporate Strategy:Develop corporate-level strategies to guide the organization's overall direction and portfolio of businesses.Explore growth strategies (vertical integration, horizontal integration, diversification) and portfolio management techniques.International Strategy:Formulate strategies for international expansion and global market entry.Study modes of entry (exporting, licensing, joint ventures, acquisitions) and adaptation strategies for diverse markets.