The course content has given me a new prespective into business strategy. Applying those would be helpful in business sustainability.
A foundational business course that teaches you how to build a winning corporate strategy. It helps you answer two key questions, “Where do you want to compete?” and “How do you want to compete?”
Developing a corporate and business strategy is key to success. It helps align the efforts of decision makers, middle management, and other employees, making sure they work in the same direction In this Business and Corporate Strategy course, you will learn how to a create a clear outline of an organization’s goals and plan to achieve them. It covers several key topics: corporate strategy vs. business strategy, the industry life cycle model (describing the introduction, growth, maturity, and decline stages), Michael Porter’s five forces model, game theory, the concept of competitive advantage, the types of growth strategies (organic vs. inorganic, horizontal vs. vertical, etc.), and so on. By the end of the lessons, you will be able to distinguish between businesses that are well-positioned from a strategic perspective and those with an incoherent corporate and business strategy. This course does not require an MBA or a business degree. It teaches you the fundamental skills you need to become a successful executive.
The Corporate and Business Strategy course is the perfect tool to build strong foundations for your company’s future. Understanding what drives value in the long run is the one sure way to build a successful and sustainable business.
Introduction to the course and what you will learn in the lessons to come.
The term “strategy” refers to the ways companies achieve their goals. In this section, you will learn why companies need strategy and how to distinguish between corporate and business strategy. We also discuss the importance of the mission, vision, and values statements.
Just like everything else in life, most industries have a lifecycle too. The four stages of the Industry Lifecycle model are Introduction, Growth, Maturity, and Decline. This section describes how product demand and business health looks like during each one of them.
The 5 Forces Model is one of the most widely used corporate strategy frameworks. It helps analyse the competitive environment in a given industry. The section goes into more detail about the 5 forces influencing the level of competition: the threat of new entrants, the threat of substitute products, the rivalry among existing firms, the bargaining power of buyers, and the bargaining power of suppliers.
Michael Porter’s 5 Forces framework provides a holistic view and considers multiple layers of an industry’s dynamics. However, it has one major drawback – it is static. Game theory, on the other hand, considers the interactions among competitor companies. We discuss this alternative framework in more detail.
This section introduces a company’s internal decision-making process. This is one of key factors determining the success of a business. This part of the Business and Corporate Strategy course examines how to use internal processes to gain a competitive advantage.
This part of the course focuses on Porter’s competitive strategies theory. According to it, every company must choose between one of three fundamental strategies: cost leadership, differentiation, and niche positioning. The best way to set up a business is to settle on one from the very beginning.
The two drivers that create value for a business owner are revenue growth and profitability. This section describes the difference between organic and inorganic and horizontal and vertical growth.
The SWOT framework allows us to combine internal and external analysis. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and Weaknesses are related to a firm’s internal environment, while Opportunities and Threats refer to the external environment.
“Top managers decide on major issues like vertical integration, diversification, M&A, capital intensive investments, and allocation of resources between the different units of the company. These are the big-time decisions that will shape the future of a business and are part of a firm’s corporate strategy.”