Business Strategy

What is business strategy?

A business strategy is a plan put in place by senior management that outlines the long-term goals of the organization and how it intends to get there.

With a strategy in place, management knows what’s expected of them and their respective teams, so they can each work in unison to steer the business toward its overall goal. This way, teams can support each other by being aligned.

What is business strategy training?

Business strategy training is training that ensures business owners and senior management have all the necessary tools, skills, and knowledge they need to put together an effective business strategy. This includes making sure employees know the differences between a strategy, a business model, and a business plan - however, these things do complement each other.

Training can cover a wide range of topics which teaches employees new skills and updated knowledge of outdated practices. This enables your senior staff to create a modern business strategy that keeps you ahead of your competitors.

Why is business strategy training important?

We’ve already covered the main reasons why a business strategy is important, which ultimately comes down to your business goals and how you intend to achieve them. Putting together a solid strategy that’s right for your business is only possible if your senior management has up-to-date and in-depth knowledge of what’s needed. This is all possible with regular training.

Devising a strategy is a complex and often intimidating task. It involves a lot of communication and organization, and confidently being able to address your business’s strengths and weaknesses.

A plan needs to consider every aspect of your business, because by neglecting to include certain areas it can risk them not working in unison with the rest. This ensures your strategy - and therefore your business - is as efficient and effective as possible.

Once a strategy has been created, management's involvement isn’t over - it’s up to them to see it through.

Training courses delve into every aspect of business strategy, which is why they should be an integral part of your business’s learning and development program. Without it, your strategy may not be as strong or effective as it could be.

Who should take business strategy courses?

Business strategy courses should only be taken by employees who will be directly involved in putting together your organization’s business strategy. This includes the owner, the CEO, executives, and senior management.

Because the majority of your business won’t oversee a business strategy, having all of your employees take training in this topic won’t be beneficial. However, training in related topics can help implement the strategy, such as attention to detail and critical thinking. 

For more information check out our blog post on how to align learning and development to the organization's strategy.

Is business strategy training difficult?

Because it focuses on the direction, goals, and objectives of your organization, putting together a business strategy can be challenging. As a result, training courses explore complex topics, which may be difficult for those with little experience. However, employees with years of experience in a senior role will likely find them less difficult, but will still be able to take a lot from them that can be put into practice.

Is it time-consuming?

If a senior employee has little experience with devising a business strategy then there will be a lot to learn - which means it may be time-consuming to learn everything they need to know to put together a strong strategy.

However, those with prior training and experience shouldn’t find training to be too time-consuming. Refresher training and courses intended to upskill can vary in length.

This is why online training courses are a valuable resource. eLearning courses can be picked up and put down as and when needed, meaning they don’t interfere with day-to-day responsibilities and operations. It’s also a great way to take advantage of micro-learning, as many eLearning courses are relatively short - which is a great way to retain information by not being overwhelming.

What are the benefits of business strategy training courses?

The main and most obvious benefit of business strategy training is that your senior employees become knowledgeable, skilled, and confident in creating a solid business strategy.

There are also a number of other benefits that impact your business so it can meet its objectives.

• A greater understanding of your business
• The ability to identify and build on strengths and weaknesses
• More clarity and direction
• A greater level of focus
• Increased enthusiasm and drive
• Encouraging discussion and collaboration
• Generating new ideas and opportunities

Once you have your business strategy and are on the way to meeting your objectives this will, of course, allow your business to make more money.

What is the best way to take business strategy courses?

There are several ways senior employees can take a business strategy course. One of the most impactful ways is through in-person learning, either in a classroom or seminar environment. Both are great for learning directly from experts, with classroom learning allowing for a more intimate experience. However, this can be both expensive and time-consuming. 

Books, videos, and blogs can also be interesting resources, but it can be hard to validate whether they’ve been produced by notable authors, particularly when published online. There’s also the risk that they can quickly become outdated.

Another option is eLearning, which is affordable and flexible, which means learning can be done as and when an employee has the time. Course materials can be accessed at any time and on any device, meaning learning can be done whenever it’s convenient - even during the morning commute.

The best online business strategy training courses

We’ve highlighted how eLearning is one of the best ways to learn thanks to its affordability and convenience. Below is a selection of some of the best courses available to take right now.

• Operationalize Business Strategies-Organizational Strategy Elements
• Business Strategy for the Post-pandemic Economy
• Applied Business Strategy for Managers
• Executing Your Strategy
• Create a Powerful Positioning Strategy
• Introduction to Business Models

Ready to train your employees in business strategy?

At Go1 we have a range of online courses so your senior employees can develop and create a solid business strategy to secure the future of your organization. For more information on how Go1 can support your business with learning and development, book a demo with a member of our team today.