Applied Business Strategy for Managers - Lecture 1 - What is Strategy?
This is an overview of the entire subject, spanning 5 lectures/modules. Each module will relate to varying components of the whole subject overview.
This unit focuses on strategy and the study of strategic management theory in managing a company for the achievement of long term company objectives, competitive advantage and business profitability. This unit is designed to introduce you to the processes of strategic analysis, strategy development, implementation and evaluation and to introduce you to the foundations of strategic thinking and game theory. This course will develop your understanding of the importance of developing sustainable competitive advantage in an increasingly dynamic, global and interconnected world. This unit aims to develop your mastery of strategic thinking through understanding how to manage organisations for long-term success by creating the value proposition, building competitive advantage and delivering outstanding results for all stakeholders. This unit is essential for future business executives and business leaders, as it helps to realise the crucial importance of setting a vision, mission and goals of the organisation, aligning these with strategic objectives and tactics necessary strategies to attain benefit of all stakeholders.
This course will allow you to comprehensively understand:
- What is Strategy?
- Strategy Definition
- Mintzberg Strategy Definitions
- What is Strategy & Identifying a Company's Strategy
- Identifying a Company's Strategy
- Strategy & the Quest for Competitive Advantage
- Strategy and the Firm's Business Model
- Why Crafting & Executing Strategy Are Important Tasks
- The Ideology of Strategy
- The 3c Model and the Triple Bottom Line
- Hierarchy of Strategy
- Management by Objectives (MOB)
- Mintzberg (Strategy & Structure)