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.What does the course cover
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.Why companies need a Strategy Distinguishing Corporate and Business Strategy The Misssion, Goals, 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.Introducing the industry life cycle model Here is why you need to know about the industry lifecycle model The introduction stage The growth stage The maturity stage The decline stage
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.The five forces model - An invaluable tool for practitioners The threat of new entrants The threat of substitute goods Competitor analysis The bargaining power of suppliers The bargaining power of buyers Porter's five forces in practice
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.The essence of zero-sum games Game theory and why it is useful in strategy Understanding the Prisoner's dilemma and its implications in the business world Gametheory shown in practice
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.Internal decision making Introducing the company life cycle model What is a competitive advantage and why companies need it Acquiring a sustainable competitive advantage The fundamental role of resources and capabilities Acquiring 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.Focusing on competitive strategy The cost leadership strategy - sell cheap Differentiation - be better and different Niche strategies - serve a specific sub-segment of people in the best way Hybrid strategies and why they can be dangerous
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 main types of growth strategies Organic growth - building a solid foundation and growing from the inside Inorganic growth - Using the potential of M&A to acquire third party companies Growing horizontally Growing vertically
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.SWOT analysis - a useful framework for strategic analysis SWOT analysis in practice - analyzing Starbucks