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Online Courses Professional Development Business Skills Strategic Business Planning: Strategy Formulation

Strategic Business Planning: Strategy Formulation

Created by: Sentinel | 9
5.0 1,108 views Prime
Last Updated 11/2020
English
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What you'll learn

Understand the theoretical and practical knowledge of strategic business planning to generate solutions to improve current practice.
Critically analyze information from a wide range of sources to demonstrate research skills, show initiative in consulting the academic literature and demonstrate the capacity to document the outcomes with sound analysis and recommendations.
Examine the key challenges faced by strategic business planners and conceptualize a strategic response to overcome these challenges.

Skills covered in this course

14.3 Business Planning Strategy Formulation

Overview

FAQs

Description

Description: This course has been designed to introduce a variety of aspects of international business. Globalization and growing international trade amongst many different countries have brought new challenges and opportunities for many new economies and established economies.

This course features dynamic and engaging video with audio narration, infographics and short quizzes to test your knowledge.

 

Background: As discussed in the previous section, the vision and mission statements help an organisation to establish its goals, and this is the first step in the process of formulating a strategy. Strategy formulation is the process by which an organisation chooses the optimal strategic course of action that enhances the chances of achieving its goals and objectives. This process is important because it designs the framework for the organisation’s processes and procedures to achieve the targeted results in light of the organisation’s situation and prospects. Mintzberg highlighted that:
“Strategy formation is judgmental designing, intuitive visioning, and emergent learning; it is about transformation as well as perpetuation; it must involve individual cognition and social interaction, cooperation as well as conflict; it has to include analysing before and programming after as well as negotiating during; and all of this must be in response to what can be a demanding environment. Just try and leave any of this out and see what happens”

The Strategic Business Planning process is an integrated approach. This figure outlines the strategic business planning components, including: Formulation; Implementation; and Evaluation. The following sections will discuss the steps in strategy formulation.

Author

Sentinel | 9

90 Courses

Sentinel | 9 specializes in Business Education and Professional Development for managers and executives. Their catalog includes courses in Business Strategy, Marketing, Finance, and Digital Transformation. Each program blends academic knowledge with workplace application, making them ideal for corporate learners. Sentinel | 9 helps organizations strengthen management capabilities while supporting ongoing employee development. Their concise, modular training aligns with the needs of today’s business environment.

Frequently Asked Questions

This course is designed for employees who need to complete Strategic Business Planning: Strategy Formulation training

Yes. This course is designed to meet applicable federal requirements and commonly mandated state standards. Always confirm specific state or industry requirements with your local regulations.

The course takes approximately 60 minutes to complete and can be paused and resumed at any time.

No. This course does not include a certificate of completion.

Yes. You can assign this course to individuals or groups using Coggno’s LMS, or purchase multiple seats for your team.

Yes. This course can be exported for delivery in most learning management systems (SCORM compatible).

Yes. The course is fully self-paced and available 24/7.

Yes. This course includes a knowledge check to reinforce learning and verify completion.

Learners have lifetime access from the date of purchase.

Yes. A preview is available so you can review the course format and content before purchasing.

Yes. Content is reviewed and updated as regulations and best practices change.

Yes. This course is available for free with an active Prime Subscription.

Yes. Refund requests can be submitted within 30 days of purchase.