Strategy is one of the most important aspects of business management because it determines whether businesses will succeed or fail in the long term. Externally, it is essential that organisations position themselves well within their environment so that they can reduce the threats that they face from without while capitalizing on the opportunities that are available to them. Internally, organisations need to be in a constant study of their resources and capabilities in order to get rid of competitive disadvantages and instead provide the essential support required to its strengths in order to compete effectively within their marketplace.
This course will teach you how to strategically position your organisation in a way to compete effectively. This will be done by teaching you:
•How to conduct a PESTEL analysis that will allow you to understand the environment within which your business operates.
•How to conduct a Porter’s five forces analysis to determine the level of competition and attractiveness of your industry.
•How to conduct a resources and capabilities analysis of your organisation using a VRIO to determine organisational sources of competitive advantage
•How to conduct a SWOT analysis to identify the Strengths, Weaknesses, Opportunities and Threats of your organisation.
•How to come up with strategies for your organisation using a TOWS analysis.
Use these simple innovation strategies for your business model to accelerate the growth of your business
4.6
★★★★★ 4.6/5
43,240 students
