Introduction
In the constantly evolving world of business, strategic management and leadership play a paramount role in determining the trajectory of success for organizations.
This strategy-building and sustaining competitive advantage course delves into the essence of the strategy to build a competitive advantage and how to sustain it over time.
The strategy-building and sustaining competitive advantage course is designed to answer pressing questions that puzzle business leaders: why do some companies excel in competitive markets while others falter? What underpins the dominion of a few companies that garner the lion's share of profits within their industry?
At the core of these inquiries lies a fundamental understanding of strategic management building and sustaining competitive advantage. Strategy is not a static concept but a dynamic process that must adapt to the intricacies of the business environment.
The strategy-building and sustaining competitive advantage course is more crucial than ever to master the art of strategy-building and competitive advantage in an increasingly complex, competitive, and globalized marketplace.
This strategy-building and sustaining competitive advantage course equips participants with the knowledge and skills to understand why competitive advantage is essential in business and how to formulate and implement strategies that propel organizations to the forefront of their respective sectors.
Targeted Groups
- Experienced operations, marketing, and human resource managers.
- Managers from the public sector are tasked with development, regeneration, and boosting inward investment, tourism, and employment growth.
- Bankers, corporate strategists, and investment analysts.
- Program managers.
- Project and newly appointed directors seek a more modern perspective on strategy and competitive advantage.
Course Objectives
By the end of this business strategy course, participants will be able to:
- Comprehend strategic management and its core principles.
- Recognize and apply the principal frameworks for crafting robust strategies.
- Understand the dynamic linkage between strategic thinking, strategy-building, and implementation.
- Grasp the meaning and significance of achieving a competitive advantage.
- Adapt and evolve strategies to maintain sustained high performance over time.
- Understand how each functional area contributes to building competitive advantage through business-level strategy.
- Enhance decision-making speed and problem-solving skills for strategic dilemmas.
- Improve operations and specialization impact on corporate strategy.
- Enhance team coordination in analyzing and solving strategic issues.
- Augment individual contributions towards the strategic objectives.
- Increase motivation and proactive strategic leadership within the organization.
Targeted Competencies
- Strategic thinking and leadership.
- Strategic management.
- Risk management.
- Ability to build innovative strategies.
- People management and development skills.
Course Content
Unit 1: Business Strategy, Competitive Strategies, and Strategic Choice
- Generic competitive strategies
- Structural analysis of industries and companies.
- "Competitive Positioning" vs. "Blue Ocean" strategic approaches.
- How does value migrate over time?
- Customer selection and the principle of differentiated customer engagement.
- The integrated supply-demand chain is the core of 21st century strategic thinking.
- Addressing choice and complexity in strategic planning.
Unit 2: Refining Strategy-Building Techniques
- The interface of external and internal analysis: trade-offs and balance.
- The concept of shareholder value and its relationship to strategic planning.
- Financial and non-financial aspects of strategy, objectives and mechanisms.
- Advanced application of the "Balanced Scorecard" principles.
- Diagnosing strategic problems and opportunities.
- Strategic choice – offensive versus defensive strategic programs.
- How do you build and use the "5-page Strategy framework"?
Unit 3: Competitive Advantage – Creation and Sustenance
- Tools for securing competitive advantage.
- Achieving competitive advantage through cost leadership.
- Gaining competitive advantage via product/service differentiation.
- Innovative business models for competitive advantage.
- Synthesizing cost leadership with differentiation strategies.
- Optimizing cost leadership and differentiation for consumer benefit.
Unit 4: Tackling Strategic Risk and Embracing Global Strategic Management
- Recognizing and mitigating strategic risks.
- Effective management of risk and uncertainty.
- Grasping the globalization impetus and strategic shifts.
- Managing the strategic shift from national to international to global stages.
- Addressing organizational change in the global context.
- Constructing and leading a strategic planning team.
- Aligning strategy with global operations.
Unit 5: From Present Structure to Future Framework
- Envisioning strategic renewal within the corporate lifecycle.
- The role of vision and values in strategic evolution and change.
- Senior executives as strategic leaders and communicators.
- The senior executive's role is to coach and mentor in promoting strategic thinking.
- Projecting today's organization into tomorrow's success.
- Recognizing the corporate and individual value of strategic thought.
This advanced competitive strategy course is not just a business strategy training program. It's an integrated strategic management and leadership course designed to master the complex variables influencing competitive strategy and competitive advantage.
