The course explores the concepts surrounding organizational strategy and aims to give clear understanding and knowledge of:
A) Concept of business strategy and the basis for how it is crucial to identify a company’s particular strategy and the importance of striving for competitive advantage in the marketplace and the role strategy plays in achieving this advantage.
B) Approach of the competitive advantage with a discussion about how sustainable advantage is in present times and of the concept of hypercompetitive environments. The difference partly proactive strategy and partly proactive reactive. The close look at the relationship between a company’s strategy and its business model.
C) What makes a successful strategy and then presents reasons for why crafting and executing strategy are important with thoughts on the equation: Good Strategy + Good Strategy Execution = Good Management.
D) Managers at all companies face three central questions in thinking strategically about their company’s present circumstances and prospects: What is the company’s present situation? Where does the company need to go from here? How should it get there? The first of these questions prompts managers to evaluate industry conditions and competitive pressures, the company’s current performance and market standing, its resource strength and capabilities and its competitive weaknesses. Where does the company need to go from here? pushes managers to make choices about the direction the company should be headed—what new or different customer groups and customer needs it should endeavour to satisfy, what market positions it needs to be staking out, what changes in its business makeup are needed. How should it get there? challenges managers to craft and execute a strategy—a full-blown action plan— capable of moving the company in the intended direction, growing its business, and improving its ﬁnancial and market performance