Building Your Firm’s Business Strategy

Description

Description: A firm’s business strategy involves research, analysis and synthesis of strategic management concepts, theories and strategic initiatives in organisations.This course provides an opportunity to build, apply and evaluate strategies in real world scenarios. 

Background: With many directions, strategic options and ideas in front of a firm, how to best succeed when rationalizing the findings of analysis is a complex challenge. Designing and implementing strategy are considered one of the most challenging parts of the strategy formulation process. A brilliantly conceived strategy can fail from a misinterpretation of the marketplace, over or underemphasizing findings, inabilities to find agreement, staff resistance, poor communication and lack of execution. This strategy must also align with the direction the firm identifies with the vision, mission and overarching corporate values. Core to successful planning is building a strategy execution framework that supports the direction for strategic business units to embrace the strategy for implementation.

Core to the success of SBU (Strategic Business Unit) level strategic planning are several managerial functions. These include:

• Matching organizational structure to the strategy
• Adopting best practices and employing continuous improvement management tools
• Installing information and operating systems

The core focus of developing the SBU-level strategic planning is to inform implementation and establish the direction for functional level implementation. This is not possible without a focus on leadership, management and operations with each essential to developing performance-driven ‘implementation’ or ‘execution’.

Author

Sentinel | 9

90 Courses