Business Strategy Fundamentals

Unlock the secrets to effective business strategy with our quick course on Business Strategy Fundamentals. Designed for aspiring business leaders and entrepreneurs, this course covers essential frameworks used in strategic planning and assessment.

Beginning with PESTLE Assessment, an analytical tool that examines the external macro-environmental factors, by exploring Political, Economic, Social, Technological, Legal, and Environmental influences. You will learn to anticipate, respond, and leverage or de-risk external factors and changes impacting business performance.

Next, we discuss Porter’s Five Forces, a framework for understanding forces that shape industry dynamics and profitability. Through detailed exploration of the five forces — competitive rivalry, the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, and the threat of substitutes — products or services — you will imbibe an understanding necessary to develop strategies that enhance competitive advantage.

Next, we discuss  internal and external Stakeholders, including shareholders, employees, customers, suppliers, and the community. You will learn to identify stakeholders and understand their interests to engage them effectively for pursuing successful strategy implementation. We also emphasise on balancing conflicting interests to drive organisational success.

The course culminates with the Business Model Canvas, a strategic tool that allows businesses to develop, visualise, and even pivot business models. You will learn to map out key components such as value propositions, customer segments, channels, customer relationships, key resources, key activities, key partnerships, revenue streams, and cost structure.

This holistic view helps in creating and maintaining a viable and innovative business models.

Through a blend of theoretical knowledge and practical applications, you will be equipped with the essential skills to formulate strategic vision and implement robust business strategies.

Course Image Source: AbsolutVision on Unsplash

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Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!